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LEASE AGREEMENT <br />CITY OF EUGENE / LANE TRANSIT DISTRICT <br />AMAZON PARK TRANSFER STATION <br />This Agreement is made and entered into this: -1 day, of June 1997, by and between the CITY <br />OF EUGENE, a municipal corporation of `the` State of Oregon, hereinafter referred to as City, and <br />the LANE TRANSIT DISTRICT, a municipal corporation, hereinafter referred to as District. <br />AGREEMENTS <br />1. Lease. For and in consideration of the covenants, agreements and stipulations herein <br />contained on the part of the District to be kept and faithfully performed by the District, City does <br />hereby lease to the District and the District does hereby lease from the City, the real property <br />described in Exhibit "A" (Property) which is attached hereto and "incorporated herein by <br />reference, subject to the terms and conditions herein, including all.improvements thereon. <br />2. Term. The term of this lease is indefinite. It may be terminated by law or by either party <br />with six months notice. The City has the right to periodically (not more than once per year) <br />review its expenses for the purpose of revising the rental rate, as detailed in Paragraph 4 below. <br />3. Use of Premises. The real property covered by this agreement, together with all <br />improvements constructed to date, onto be constructed thereon as hereinafter`provided, shall be <br />used by the District for or support of mass transit purposes. <br />4. Rental. The District shall make an annual rent payment to the City for the use of the <br />described property. Two components of the rent are as follows: <br />a. Land rental, which shall be based on eight percent (8 %) of the market value. Market <br />value will be determined by appraisal by the City's Real Property Officer. Any party, <br />including a third party, may at their own expense, obtain an independent appraisal of <br />market value, which shall be accepted unless challenged and resolved in a binding <br />mediation proceeding. <br />b. Landscape maintenance reimbursement, which covers the expense of the City to mow, <br />weed, prune and irrigate 6950 sq. ft. of landscaping. The amount of rent for this <br />component may be renegotiated if the District elects to have portions of the landscape <br />maintenance provided by a non -City maintenance provider. <br />Either of the following components shall become part of the annual rent if they impact the City. <br />c. If paid by the City, all taxes, assessments, levies and other charges, general and <br />special, ordinary and extraordinary, of whatever name, nature and kind, which may be <br />levied, assessed, imposed and charged upon the described land and all District <br />improvements constructed or located thereon, and all personal property taxes upon any <br />personal property which may be placed or located upon the described premises by any <br />1f�1 <br />