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~ Public Works <br /> Engineering. <br /> ~ , <br /> City of Eugene <br /> 858 Pearl Street <br /> August 4, 2005 Eugene, Oregon 97401 <br /> (541)682-5291 <br /> (541)682-5032 Fax <br /> (541) 682-5245 TfY <br /> James and orma vans <br /> 2871 Badey .Mill Road <br /> Eugene, OR 974fl5 <br /> RE: City's proposed purchase of 18-(14-A3-00, TL #5106 <br /> (Approximately 24.67 acres off Bailey Hill Rd, Eugene, Oregon) <br /> I <br /> Dear Mr. and iVirs. Evans: <br /> <br /> i <br /> As you la~ae~~ frflm previous discussions, the City of Eugene is in±erested in acquiring the <br /> above referenced property owned by you for parks and open space purposes. <br /> i <br /> A professional appraisal has been completed by Charles Thompsan, MAI and I <br /> previously provided a copy for your advance review. The appraisal indicated a value of <br /> j $913,000 as the market value-of the propased acquisition area. In earlier conversations <br /> we discussed the possibility of a partial donation from you in the amount of $113,000 of <br /> the purchase price to assist in the funding of the park acquisition, understanding you may <br /> still need to further review this with your tax consultant as to the details of haw the <br /> donation is structured. The City of Eugene offers to purchase the property for appraised <br /> value of $913,000 with the terms of sale bring $800,000 cash at the claw of escrow anti. <br /> the remaining $113,000 to be a charitable donation from you to the City of Eugene- The <br /> City agrees to execute the appropriate forms to document the charitable contnbution. <br /> <br /> 1 <br /> The City's offer is subject to its review and approval of the condition of title {preliminary <br /> title report from Cascade Title), and approval of the fnal terms of the sale by the City's <br /> Director of Public Works. The property is to be conveyed free and clear of all liens and <br /> encumbrances unless accepted in writing by the City of Eugene. Closing of escrow to be <br /> completed with Cascade Escrow and to occur within 50 days of acceptance of this offer <br /> to purchase, or as soon thereafter as closing documents can be completed. Both parties to <br /> pay the typical costs of closing and seller shall provide an owner's title insurance policy <br /> for the cash amount -paid. The- current property taxes shall be pro-rated to the date of <br /> closing. <br /> It is further acknowledged there is an interest of both parties to make a properCy Iine <br /> adjustment between the subject property and your remainder property which is adjacent <br /> to and west of the sub}ect area. The intent is to include the remainder of the water way <br /> onto the acquisition area in exchange for some of the most southwesterly portion of the <br /> j subject tax Iot. This area is subject to fiu-ther identification, review, and approval by both <br /> parties. It has further been expressed you wish to retain an easement for potential future <br /> <br />