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COQ.. ? N Fu Dxl t~'~ <br /> Project 99-446 Lottery Funds <br /> OREGON WATERSHED ENHANCEMENT BOARD <br /> WATERSHED IMPROVEMENT GRANT AGREEMENT <br /> This grant agreement is between the Oregon Watershed Enhancement Board, hereafter <br /> called "Board," and Tillamook County, hereafter called "Grantee," in consideration of the <br /> mutual covenants contained herein. This agreement consists of the following, in descending <br /> order of precedence: this agreement less all Exhibits; and attached Exhibits A, B, and C. <br /> All Exhibits are incorporated herein by this reference. <br /> A. Authorization <br /> This grant is authorized by ORS 541.351 to 541.401 and is subject to Oregon Administrative <br /> Rules 695-001-0000 to 695-030-0030 as such rules may periodically be amended by the Board. <br /> B. Grant Award <br /> The Board hereby agrees to provide funds in the amount of $917,500 to Grantee on the terms <br /> specified in this agreement for the purpose of funding the acquisition of fee simple title to certain <br /> real pro~erty__located_in Tilla__mook_County,_Oregon, as more_partcularly__described in the_ <br /> attached Exhibit A (hereafter the "Property"may the Oregon Parks and Recreation Department <br /> (hereafter, "OPRD"). <br /> <br /> _ _ <br /> C. Funding Conditions <br /> (1) The Board certifies that at the time this agreement is entered into sufficient funds are <br /> authorized for expenditure within the Board's current appropriation or limitation. Should <br /> a reduction in Oregon State Lottery Funds result in reduced funding to the Board, this <br /> grant may be reduced in accordance with Oregon Law. <br /> (2) The $917,500 in grant funds from the Board will be used exclusively for the purchase of <br /> fee simple title to the Property, and to secure transfer of title to the Property to OPRD. <br /> (3) In addition to the other conditions listed herein, Board funds will be disbursed to an <br /> escrow account created for the acquisition of the Property upon written approval by the <br /> Executive Director of the Board of escrow instructions for such escrow account. Such <br /> instructions shall include, but are not limited to, requirements that: (a) Board funds will <br /> not be released from escrow until all other funds necessary to complete the purchase of <br /> the Property are also available and deposited in the escrow account; (b) Board funds be <br /> returned to the Board in the event the purchase of the Property by OPRD has not closed <br /> on or before October 2, 2000, unless otherwise instructed in writing by the Board; and (c) <br /> Board funds will not be released from escrow until the escrow agent receives written <br /> notice from the Executive Director that he has approved: (i) the title report showing the <br /> condition of title of the Property (including any exceptions listed therein); (ii) the form of <br /> deed to the Property in which title will be held by OPRD; and (iii) the form of deed or <br /> <br />