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90032-1 - Martin Settlement - Dartmouth LID
Ref. 90032-1 POLICY OF TITLE INSURANCE ISSUED BY OREGON TITLE INSURANCE COMPANY 1515 Southwest Fifth Avenue • Portland, Oregon 97201 • (503) 220-0015 SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, OREGON TITLE INSURANCE COMPANY, an Oregon corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided yinthe Conditions and Stipulations. IN WITNESS WHEREOF, OREGON TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto affixed and authenticated by the facsimile signatures of its President and Secretary, provided this°policy is valid only when countersigned by a duly authorized officer or agent of the corporation. OREGON TITLE INSUR4NCE COMPANY Countersigned BY ' '4T ~4r PRESIDENT 4 EIALt thori cer ATTEST r'rt SECRETARY OT1C 923-ALTA Owner's Policy (1041.92) EXCLUSIONS FROM COVERAGE 1 The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or lo- cation of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public re- cords at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value with- out knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. Any claim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (a) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (b) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the prefer- ential transfer results from the failure: (i) to timely record the instrument of transfer; or (ii) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS. 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE. to the title or interest as insured, but only as to those stated The following terms when used in this policy mean: causes of action alleging a defect, lien or encumbrance or (a) "insured": the insured named in Schedule A, and, The coverage of this policy shall continue in force as of other matter insured against by this policy. The Company subject to any rights or defenses the Company would have Date of Policy in favor of an insured only so long as the in- shall have the right to select counsel of its choice (subject to had against the named insured, those who succeed to the sured retains an estate or interest in the land, or holds an in- the right of the insured to object for reasonable cause) to interest of the named insured by operation of law as distin- debtedness secured by a purchase money mortgage given represent the insured as to those stated causes of action guished from purchase including, but not limited to, heirs, by a purchaser from the insured, or only so long as the in- and shall not be liable for and will not pay the fees of any distributees, devisees, survivors, personal representatives, sured shall have liability by reason of covenants of warranty other counsel. The Company will not pay any fees, costs or next of kin, or corporate or fiduciary successors. made by the insured in any transfer or conveyance of the es- expenses incurred by the insured in the defense of those (b) 'insured claimant": an insured claiming loss or tate or interest. Th is policy shall not continue in force in favor causes of action which allege matters not insured against by damage of any purchaser from the insured of either (i) an estate or in- this policy. (c) "knowledge" or "known": actual knowledge, not terest in the land, or (ii) an indebtedness secured by a pur- (b) The Company shall have the right, at its own cost, constructive knowledge or notice which may be imputed to chase money mortgage given to the insured. to institute and prosecute any action or proceeding or to do an insured by reason of the public records as defined in this any other act which in its opinion may be necessary or desir- policy or any other records which impart constructive notice 3. NOTICE OF CLAIM TO BE able to establish the title to the estate or interest, as insured, of matters affecting the land. GIVEN BY INSURED CLAIMANT. or to prevent or reduce loss or damage to the insured. The d() "land": the land described or referred to in The insured shall notify the Company promptly in writing Company may take any appropriate action under the terms riY of this policy, whether or not it shall be liable hereunder, and Schedule A, and improvements affixed thereto which by law (i) in case of any litigation as set forth in Section 4(a) below, shall not thereby concede liability or waive any provision of constitute real property. The term "land" does not include (ii) in case knowledge shall come to an insured hereunder of this policy. If the Company shall exercise its rights underthis any properly beyond the lines of the area described or refer- any claim of title or interest which is adverse to the title to the paragraph, it shall do so diligently. red to in Schedule A, nor any right, title, interest, estate or estate or interest, as insured, and which might cause loss or easement in abutting streets, roads, avenues, alleys, lanes, damage for which the Company may be liable by virtue of (c) Whenever the Company shall have brought an ways or waterways, but nothing herein shall modify or limit this policy, or (iii) if title to the estate or interest, as insured, is action or interposed a defense as required or permitted by the extent to which a right of access to and from the land is rejected as unmarketable. If prompt notice shall not be given the provisions of this policy, the Company may pursue any insured by this policy. to the Company, then as to the insured all liability of the litigation to final determination by a courtof competentjuris- "mortgage": mortgage, deed of rust, trust deed, Company shall terminate with regard to the matter or mat- diction and expressly reserves the right, in its sole discre- (e) ters for which prompt notice is required; provided, however, tion, to appeal from any adverse judgment or order. or other security instrument. that failure to notify the Company shall in no case prejudice (d) In all cases where this policy permits or requires (f) "public records": records established under state the rights of any insured under this policy unless the com- the Company to prosecute or provide for the defense of any statutes at Date of Policy for the purpose of imparting con- pany shall be prejudiced by the failure and then only to the action or proceeding, the insured shall secure to the Com- structive notice of matters relating to real property to pur- extent of the prejudice. pany the right to so prosecute or provide defense in the ac- chasers for value and without knowledge. With respect to lion or proceeding, and all appeals therein, and permit the Section 1(a)(iv) of the Exclusions From Coverage, "public Company to use, at its option, the name of the insured for records" shall also include environmental protection liens 4. DEFENSE AND PROSECUTION OF ACTIONS; this purpose. Whenever requested by the Company, the in- filed in the records of the clerk of the United States district DUTY OF INSURED CLAIMANT TO sured, at the Company's expense, shall give the Company court for the district in which the land is located. COOPERATE. all reasonable aid (i) in any action or proceeding, securing (g) "unmarketability of the title": an alleged or appar- (a) Upon written request by the insured and subject to evidence.. obtaining witnesses, prosecuting or defending ent matter affecting the tide to the land, not excluded or ex- the options contained in Section 6 of these Conditions and the action or proceeding', or'affecting settlement, and (ii) in cepted from coverage, which would entitle a purchaser of Stipulations, the Company, at its own cost and without un- any other lawful act which in the opinion of the Company the estate or interest described in Schedule A to be released reasonable delay, shall provide for the defense of an insured may be necessary or desirable to establish the title to the es- from the obligation to purchase by virtue of a contractual in litigation in which any third party asserts a claim adverse tate or interest as insured. If the Company is prejudiced by condition requiring the delivery of marketable title. (continued on inside back cover) ..ONDITIONS AND STIPULATIONS 10. REDUCTION OF INSURANCE; REDUCTION (Continued from inside front cover) OR TERMINATION OF LIABILITY. the failure of the insured to furnish the required cooperation, gations to the insured under this policy for the claimed loss All payments under this policy, except payments made for the Company's obligations to the insured under the policy or damage, other than the payments required to be made, costs, attorneys' fees and expenses, shall reduce the shall terminate, including any liability or obligation to defend, shall terminate, including any liability or obligation to defend, amount of the insurance pro tanto. prosecute, or continue any litigation, with regard to the mat- prosecute or continue any litigation. 11. LIABILITY NONCUMULATIVE ter or matters requiring such cooperation. 7. DETERMINATION; EXTENT OF LIABILITY It is expressly understood that the amount of insurance 5. PROOF OF LOSS OR DAMAGE AND COINSURANCE. under this policy shall be reduced by any amount the Com- In addition to and after the notices required under Section This policy is a contract of indemnity against actual mone- pany may pay under any policy insuring a mortgage to which 3 of these Conditions and Stipulations have been provided tary loss or damage sustained or incurred by the insured exception is taken in Schedule B or to which the insured has the Company, a proof of loss or damage signed and sworn claimant who has suffered loss or damage by reason of mat- agreed, assumed, or taken subject, or which is hereafter ex- to by the insured claimant shall be furnished to the Company ters insured against by this policy and only to the extent ecuted by an insured and which is a charge or lien on the es- within 90 days after the insured claimant shall ascertain the herein described. tate or interest described or referred to in Schedule A, and facts giving rise to the loss or damage. The proof of loss or the amount so paid shall be deemed a payment under this damage shall describe the defect in, or lien or encumbrance (a) The liability of the Company under this policy shall policy to the insured owner. on the title, or other matter insured against by this policy not exceed the least of: which constitutes the basis of loss or damage and shall (i) the Amount of Insurance stated in Schedule 12. PAYMENT OF LOSS. state, to the extent possible, the basis of calculating the A; or, (a) No payment shall be made without producing this amount of the loss or damage. If the Company is prejudiced (ii) the difference between the value of the in- Policy for endorsement of the payment unless the policy has by the failure of the insured claimant to provide the required sured estate or interests as insured and the value of the in- been lost or destroyed, in which case proof of loss or de- proof of loss under the Company's obligations to the sured estate or interest subject to the defect, lien or encum- struction shall be furnished to the satisfaction of the Com- insuredunder the policy shall terminate, including any liabil- parry. ity or obligation to defend, prosecute, or continue any litiga- bran insured against by this policy. tion, with regard to the matter or matters requiring such (b) In the event the Amount of Insurance stated in (b) When liability and the extent of loss or damage proof of loss or damage. Schedule A at the Date of Policy is less than 80 percent of has been definitely fixed in accordance with these Condi- In addition, the insured claimant may reasonably be re- the value of the insured estate or interest or the full consid- tions and Stipulations, the loss or damage shall be payable quired to submit to examination under oath by any au- eration paid for the land, whichever is less, or K subsequent within 30 days thereafter. thorized representative of the Company and shall produce to the Date of Policy an improvement is erected on the land 13. SUBROGATION UPON PAYMENT for examination, inspection and copying, at such reasona- which increases the value of the insured estate or interest by OR SETTLEMENT. ble times and places as may be designated by any au- at least 20 percent over the Amount of Insurance stated in thorized representative of the Company, all records, books, Schedule A, then this Policy is subject to the following: (a) The Company's Right of Subrogation. ledgers, checks, correspondence and memoranda, whether bearing a date before or after Date of Policy, which (i) where no subsequent improvement has been Whenever the Company shall have settled and paid a reasonably pertain to the loss or damage. Further, if re- made, as to any partial loss, the Company shall only pay the claim under this policy, all right of subrogation shall vest in quested by any authorized representative of the Company, loss pro rata in the proportion that the amount of insurance the Company unaffected by any act of the insured claimant. the insured claimant shall grant its permission, in writing, for at Date of Policy bears to the total value of the insured estate The Company shall be subrogatod to and be entitled to all any authorized representative of the Company to examine, or interest at Date of Policy; or (ii) where a subsequent im- rights and remedies which the insured claimant would have inspect and copy all records, books, ledgers, checks, cor- provement has been made, as to any partial loss, the Com- had against any person or property in respect to the claim respondence and memoranda in the custody or control of a pany shall only pay the loss pro rata in the proportion that had this policy not been issued. If requested by the Com- third party, which reasonably pertain to the loss or damage. 120 Percent of the Amount of Insurance stated in Schedule pany, the insured claimant shall transfer to the Company all All information designated as confidential by the insured A bears to the sum of the Amount of Insurance stated in rights and remedies against any person or property neces- claimant provided to the Company pursuant to this Section Schedule A and the amount expended for the improvement. sary in order to perfect this right of subrogation. The insured shall not be disclosed to others unless, in the reasonable The provisions of this paragraph shall not apply to costs, claimant shall permit the Company to sue, compromise or judgment of the Company, it is necessary in the administra- attomeys' fees and expenses for which the Company is li- settle in the name of the insured claimant and to use the tion of the claim. Failure of the insured claimant to submit for able under this policy, and shall only apply to that portion of name of the insured claimant in any transaction or litigation examination under oath, produce other reasonably re- any loss which exceeds, in the aggregate, 10 percent of the involving these rights or remedies. quested information or grant permission to secure reasona- Amount of Insurance stated in Schedule A. If a payment on account of a claim does not fully cover the bty necessary information from third parties as required in- (c) The Company will pay only those costs, attorneys' loss of the insured claimant, the Company shall be subro- hich this paragraph, unless prohibited by law or governmental fees and expenses incurred in accordance with Section 4 of gated to these nights and remedies in the proportion which regulation, shall terminate any liability of the Company these Conditions and Stipulations. the Company's payment bears to the whole amount of the loss. under this policy as to that claim. If loss should result from any act of the insured claimant, 6. OPTIONS TO PAY OR OTHERWISE SETTLE 8. APPORTIONMENT. C stated above, that act shall not void this policy, but the CLAIMS; TERMINATION OF LIABILITY. Company, in that event, shall be required to pay only that If the land described in Schedule A consists of two or part of any losses insured against by this policy which shall In case of a claim under this policy, the Company shall more parcels which are not used as a single site, and a loss exceed the amount, if any, lost to the Company by reason of have the following additional options: is established affecting one or more of the parcels but not all, the impairment by the insured claimant of the Company's (a) To Pay or Tender Payment of the Amount of In- the loss shall be computed and settled on a pro rata basis as right of subrogation. surance. if the amount of insurance under this policy was divided pro (b) The Company's Rights Against Non-Insured rata as to the value on Date of Policy of each separate parcel Obligors. (1) To pay or tender payment of the amount of in- to the whole, exclusive of any improvements made sub- suranceunder this policy together with anycosts, attorneys' sequent to Date of Policy, unless a liability or value has The Company's right of subrogation against non- fees and expenses incurred by the insured claimant, which otherwise been agreed upon as to each parcel by the Com- insured obligors, shall exist and shall include, without limita- were authorized by the Company, up to the time of payment parry and the insured at the time of the issuance of this policy lion, the rights ,of the insured to indemnities, guaranties, or tender of payment and which the Company is obligated to and shown by an express statement or by an endorsement other policies of insurance or bonds, notwithstanding any pay- attached to this policy. terms or conditions contained in those instruments which (ii) Upon the exercise by the Company of this op- provide for subrogation rights by reason of this policy. tion, all liability and obligations to the insured under this pol- icy, other than to make the payment required, shall termi- 9. LIMITATION OF LIABILITY. 14. ARBITRATION. nate, including any liability or obligation to defend, prose- cute, or continue any litigation, and the policy shall be sur- (a) If the Company establishes the title, or removes Unless prohibited by applicable law, either the Company r9ndered to the Company for cancellation. the alleged defect, lien or encumbrance, or cures the lack of or the insured may demand arbitration pursuant to the Title (b) To Pay or Otherwise Settle With Parties Other a right of access to or from the land, or cures the claim of un- Insurance Arbitration Rules of the American Arbitration As- (b) To Insured or With the Insured Claimant. marketability of title, all as insured, in a reasonably diligent sociation. Arbitrable matters may include, but are not limited manner by any method, including litigation and the comple- to, any controversy or claim between the Company and the (i) to pay or otherwise settle with other parties for tion of any appeals therefrom, it shall have fully performed insured arising out of or relating to this policy, any service of or in the name of an insured claimant any claim insured its obligations with respect to that matter and shall not be li- the Company in connection with its issuance or the breach against under this policy, together with any costs, attorneys' able for any loss or damage caused thereby. of a policy provision or other obligation. All arbitrable mat- fees and expenses incurred by the insured claimant which ters when the Amount of Insurance is $1,000,000 or less were authorized by the Company up to the time of payment (b) In the event of any litigation, including litigation by shall be arbitrated at the option of eitherthe Company orthe and which the Company is obligated to pay; or the Company or with the Company's consent, the Company insured. All arbitrable matters when the Amount of Insur- shall have no liability for loss or damage until there has been ance is in excess of $1,000.000 shall be arbitrated only (ii) to pay or otherwise settle with the insured a final determination by a court of competent jurisdiction, when agreed to by both the Company and the insured. Arbi- claimant the loss or damage provided for under this policy, and disposition of all appeals therefrom, adverse to the title together with any costs, attomeys' fees and expenses incur- as insured. t pursuant to this policy and under the Rules in effect on red by the insured claimant which were authorized by the the e date the demand for r arbitration is made or, at the option Company up to the time of payment and which the Company (c) The Company shall not be liable for loss or dam- of the insured, the Rules in effect at Date of Policy shall be is obligated to pay. age to any insured for liability voluntarily assumed by the in- binding upon the parties. The award may include attorneys' Upon the exercise bythe Company ofeither ofthe options sured in settling any claim or suit without the prior written provided for in paragraphs (b)(i) or (ii), the Company's obli- consent of the Company. (continued on back) CONDITIONS AND STIPULATION; (Continued from inside front cover) fees only if the laws of the state in which the land is located ing any provision of this policy, this policy shall be construed 16. SEVERABILITY. permit a court to award attorneys' fees to a prevailing party. as a whole. In the event any provision of this policy is held invalid or Judgment upon the award rendered by the Arbitrator(s) may (b) Any claim of loss or damage, whether or not unenforceable under applicable law, the .policy shall be be entered in any court having jurisdiction thereof. based on negligence, and which arises out of the status of deemed not to include that provision and all other provisions The law of the situs of the land shall apply to an arbitration the title to the estate or interest covered hereby or by any ac- shall remain in full force and effect. under the Title Insurance Arbitration Rules. tion asserting such claim, shall be restricted to this policy. A copy of the Rules may be obtained from the Company (c) No amendment of or endorsement to this policy upon request. can be made except by a writing endorsed hereon or at- 17. NOTICES, WHERE SENT. 15. LIABILITY LINKED TO THIS POLICY; tached hereto signed by either the President, a Vice Presi- All notices required to be given the Company and any dent, the Secretary, an Assistant Secretary, or validating of- in writing required wired to be tumished the Company POLICY ENTIRE CONTRACT. ficer or authorized signatory of the Company. statement 9 (a) This policy together with all endorsements, if any, shall include the number of this policy and shall be ad- attached hereto by Company is the entire policy dressed to the Company at 1515 S.W. Fifth Avenue, PortY Pant i land, Oregon 97201. contract between the insured and the Company. In interpret- . ALTA Owner's Policy (10/17/92) SCHEDULE A Date of Policy: February 6, 1998 At: 3:05 p.m. Policy No.: 763095w Amount of Insurance: $600,781.98 Order No.:: 763095w Premium: $1,511.50 1. Name of Insured: City of. Tigard, an Oregon municipal corporation 2. The estate or interest in the.land which is covered by this policy is: AN EASEMENT as. described in instrument recorded February 6; 1998 as Recorder's 'Fee No. 98011117 3r Title to the estate or interest in the land is vested in: City of Tigard, an Oregon municipal corporation 4. The land referred to in this policy is situated in the State of Oregon, County of Washington and is described as follows: (Continued) 1 Owner's Policy No.: 763095w SCHEDULE A, CONTINUED Legal Description, Continued PARCEL .I A parcel of land lying in the Southeast one-quarter and the Southwest one-quarter,of Section 36, Township 1 South, Range 1 West of the Willamette Meridian, and the Northeast one-quarter of Section l, Township 2 South, Range 1 West of the Willamette Meridian, in the'.City.bf Tigard, County of Washington and State of Oregon, being a portion of that particular tract' described in Document No. 81-042427 of the Washington County Deed Records„ more particularly described as follows: Beginning at the intersection of the East line of the Richardson Donation Land Claim and the South line of Section 36; thence North 880 33' 09" West along said South line, a distance of 20.02 feet to the true point of beginning; thence North 880 33' 09" West along said South line a distance of 150.03 feet,to a point of curve to the right;. thence along said curve with a radius•of 465.00 feet, a ,delta of 140 32' 16" (a chord which bears North 81° 1.7' 01" West 117.67 feet), and a length of 117.99 feet; thence North 740 00''53 West a distance of 136.52 feet; thence South O1° 371. 47" West. a distance of 72.26, feet; thence South 740 00' 53" East a distance of 118.60 feet to a point of curve-to the left; thence along said curve with a radius of 535.00 feet, a delta of 140 32' 16" (a chord,of which bears South 811 17' 01" East 135.38 feet) and a length of 135.75 feet; thence. South 880 33' 09" East,a distance of 153.04 feet to the West right of way line of _SW 72nd Avenue; thence North 010001,47" East along said West right of way a distance of 70:06 feet to the true point of beginning. PARCEL II.; A,15 foot wide parcel of land in the Northeast one-quarter of Section 1, Township 2 South, Range 1 West of the Willamette Meridian, in the City of. Tigard, County.of Washington and State of Oregon, being a portion of that particular tract described in Document No. 81-042427 of the Washington County Deed'Records. Said 15 foot wide parcel lies South`of and adjacent to the South line of the following described tract: Beginning at the intersection of the East line of the Richardson Donation Land Claim and the South line of Section 36; thence North 880 33' 09" West along said South line, a distance of 20.02 feet to the true point of beginning; thence North 880 33' 09" West;, along said South line a distance of 150.03 feet to a point of curve to the right;- thence along said curve with a radius.of 465.00 feet, a delta of 140-32' 16" (a chord which bears North 810 17' 01" West 117.67 feet) and alength of 117.99 feet; thence North 74.0 00' 53" West a distance of 136.52 feet; thence South 011 37' 47" West a distance of 72..26 feet; thence South 740 00' 53" East a distance of '118.60 feet to a point of curve to the left; thence along said curve with a radius of 535.00 feet, a delta of 140 32' 16!' (a chord which bears South 810 17' 01"'East 135.38 feet) and a length of 135.75 feet; thence South 880 33' 09" East a distance of, 153.04 feet.to the West right of way line of SW 72nd Avenue; thence North 010 00' 47" East, a distance of 70.06 feet to the true point,of beginning. .(Continued) Owner's Policy No.: 763095w SCHEDULE A, CONTINUED Legal Description, Continued PARCEL III: A parcel of land lying in the Southeast one-quarter and the Southwest one-quarter of Section 36, Township 1 South; Range .1 West of the Willamette Meridian, and the Northeast one-quarter of Section 1, Township '2 South, Range 1 West, of the Willamette Meridian, in the City of Tigard, County of Washington and State of Oregon, being a portion of that particular tract described in Deed Book 495, Page 98, of the Washington County Deed Records, more particularly described as follows: Beginning at a 1-1/2.inch iron pipe marking the Southwest corner of the A. Lipman Tract as recorded in Deed Book 153, Page 313, of the Washington County Deed Records; thence South 890 16' 25" East, along the South line of said tract, a distance of 168.22 feet; thence South 740 00' 53" East a distance of 234.61 feet, thence South 010 37' 47" West a distance of 72.26 feet; thence North 740 00' 53" West a distance of 533.43 feet to a point of curve to the right; thence along said curve to the right with a radius of 535.00 feet, a delta of 020 47' 0111, (a chord which bears North 720 371 22" West, 25..99 feet), and a length of 25.99 feet; thence South 830 51' 30" East 146.79 feet to the point of beginning. ALTA owner's Policy (10/17/92) Policy No.: 763095w SCHEDULE 8 EXCEPTIONS FROM COVERAGE • This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: 1. Taxes or assessments, which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments, on real property or by the public records; proceedings by a public-agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by.. the public records. 2. Any facts, rights, interest's, or claims which are not shown by the public records but which could be ascertained by an inspection of said land or by making inquiry of persons in possession thereof.. 3. Easements, liens or encumbrances or claims thereof, which are not shown by the public records; unpatented mining claims; reservations or exceptions in patents or in•acts authorizing the issuance thereof; water rights, claims or title to water. 4. Any lien, or right to a lien, for taxes, worker's compensation, services, labor, 'equipment rental or material, heretofore or hereafter furnished, imposed by law and not shown by the public records., 5. Discrepancies, conflicts in boundary lines, shortage in area, encroachments or any other facts which a correct survey would disclose. 6. The assessment roll and the tax roll disclose that the subject premises were or are. specially assessed as farm land. If the land has become or•becomes disqualified for the-special assessment under the statute, an additional tax may be levied. 7. Municipal liens, if any, imposed by the City of Tigard.' 8. The subject property lies within the boundaries of the Unified Sewerage Agency and is subject to the levies and assessments thereof. 9. The subject property lies within the boundaries of the Tualatin Valley Water District and is subject to the levies and assessments thereof. 10. The rights of the public, governmental bodies, and public utilities, in and to that portion of the herein described property lying within the limits of SW 72nd.-Avenue. 11. The terms and provisions of an easement created or disclosed by instrument,. Dated January 26;••1988 • Recorded February 6, 1988 as Recorder's Fee No. 98011117 In favor of The City of Tigard For Road or street purposes Affects Please see recorded document for details lcd N Ecsy Of Oregon Title Insurance Company 'I his sketch is made solely for the purpose of assisting lu locating sald premises, _ and the company assintics no Ilublllty for varlatlons, If nny, lit dimettslons and J locations ascertalncd by actual survey. N + " AN 13 616. 3• S! 2 NN' cu. 20 11.9. SHAVE It 171/193 2J4 N 2°09 w AI►ROx o630.3 r 1/4 CORNER 134 • FROM SE • CORNAlIDER ISO 36 100 R•463 R1C N30N DLC ISI I 73Ac. !!7.99 30 04 I V F O O N r 140 1344 tOILY LINE _ 6E05~6E MARTIN 1 160/66 W Z m w c Q (n N K a n Q W W C\j 0INER 3 03* "LLER 1100/039 N 64°23W 40t 376.• LJ9. 32" ~ ME COR 3,70 ,ate 200/339 1400 23E ° Z ry ~ 46AC. n I 214 M/L 402 I Z & .45A c. 0 v r '.2. 41r'1 244 09.97 N 69°O1' IV 133 6 2Q I 83. '0 AU I O'DONNELL RAMIS CREW H F E B 0 b L998 } CORRIGAN & BACHRACH, LLP v lu U JEFF H. BACHRACH S3Pi~ie & ATTOP14EYS AT MARK L. BUSCH 1727 N. W. Hoyt t Street LAW 181 N. Grant, suite 202 D. DANIEL CHANDLER Portland, Oregon Hoyt 97209 Canby, Oregon 97013 DOMINIC G.; COLLETTA•• TELEPHONE: (503) 266-1149 CHARLES E. CORRIGAN• TELEPHONE: (503) 2224402 STEPHEN R CREW FAX: (503) 243-2944 MARTIN C. DOLAN VANCOUVER, WASHINGTON OFFICE GARY F. FIRESTONE' First Independent Place WILLIAM E. GAAR PLEASE REPLY TO PORTLAND OFFICE 1220 Main Street, Suite 451 G. FRANK HAMMOND• Vancouver, Washington 98660-2964 MALCOLM JOHNSON* TELEPHONE: (360) 699-1287 MARK P. O'DONNELL FAX: (360) 699-7221 T. CHAD PLASTER February 4, 1998 TIMOTHY V. RAMIS WILLIAM J. STALNAKER JAMES M. COLEMAN ANDREW H. STAMP SPECIAL. COUNSEL • ALSO ADMfr1ED TO PRACTICE IN WASHINGTON ALSO ADM17ED TO PRACTICE IN CALIFORNIA ADMITTED TO PRACTICE IN WASHINGTON ONLY ALSO ADMf!•!ED TO PRACTICE IN WASHINGTON AND MONTANA CERTIFIED MAIL. RETURN RECEIPT REQUESTED Mr. William A. Monahan City of Tigard 13125 SW Hall Boulevard Tigard, OR 97223 Re: Dartmouth LID/Martin/City of Tigard Dear Bill: Enclosed with this letter please find an original, fully executed, Settlement Agreement and Mutual Release regarding the above-referenced matter. Also enclosed please find a copy of my letter to Douglas Van Dyk, counsel for Mr. Martin, by which I transmitted a duplicate of the enclosed document. As you are probably aware from your conversations with Wayne Lowry, the escrow for the acquisition of the Martin property is scheduled to close February 5, 1998. I will provide you with prompt notice as soon as escrow has been closed. If you have any questions regarding the enclosed document or the details of the transaction, please do not hesitate to call. As always, it is a great pleasure working with you and the members of your staff ours, Very tru;Colletta c G. DGC/nak Enclosures cc: Wayne Lowry (w/o encl.) Charles E. Corrigan (w/o encl.) 0A R I G I N A L SETTLEMENT AGREEMENT AND MUTUAL RELEASE PARTIES: City of Tigard, an Oregon Municipal Corporation ("City") c/o Charles R. Corrigan O'Donnell Ramis Crew Corrigan & Bachrach 1727 NW Hoyt St Portland OR 97209 Gordon R. Martin, Sr. ("Martin") c/o Tarlow,. Jordan & Schrader PO Box 230669 Portland OR 97281 RECITALS A. By letter dated April 1, 1997, the City attempted to acquire property ("Property"), described in the attached Exhibit 1, in accordance with ORS 35.346(1). At that time, the City and Martin were unable to agree upon the terms. In addition, the parties disputed (and continue to dispute) the formula for Local Improvement District ("LID") assessments to be applied to land adjacent to (and in the vicinity of) the Property. B. On or about May 29, 1997, the City filed a lawsuit (the "Lawsuit") against Martin for condemnation of the Property, entitled City of Tigard v. Gordon R. Martin, Sr., in Washington County Circuit Court, Case No. C970604CV. C. Both before and after the lawsuit was filed, the parties negotiated the terms of acquisition of the Property. D. The acquisition of the Property is for public use in accordance with ORS 35.235. NOW, THEREFORE, recognizing that it is in their mutual best interests to settle and. fully compromise all disputes arising from or relating in any way to the Lawsuit, and in consideration for promises and covenants contained in this Settlement Agreement, the parties agree as follows: AGREEMENT 1. Payment by the City. The City agrees to pay Martin for acquisition of the Property as follows: I- SETTLEMENT AGREEMENT AND MUTUAL RELEASE GLS14441vf.doc/1/15/98-2 1-z6-~S a. On or before January 22, 1998, the City shall deliver into escrow ("Escrow"), at First American Title Co., the principal sum of Five Hundred Sixty Eight Thousand Three Hundred and Sixty-Nine Dollars and 56/100 ($568,369.56), together with accruing interest at the rate of $104.22 per day (.067% per annum) from the 1st day of April, 1997 to the date of closing. b. Closing shall occur and the City shall authorize Escrow in writing to release all amounts described in 1(a) above to Martin upon Martin delivering into Escrow, on or before January 22, 1998, a Dedication Deed conveying the Property to the City of Tigard free and clear of all liens and encumbrances. C. The parties shall authorize Escrow to conclude the transaction by recording the Dedication Deed vesting title in the City of Tigard, collecting a reasonable Escrow fee to be shared equally by the parties and assess the cost of recording the Dedication Deed against the City, and prorating all real property taxes and assessments between the parties as of the date of closing. d. Martin agrees to waive any repurchase rights he may have concerning the Property under ORS 35.385, and the Dedication Deed described above shall include a recital of such waiver. 2. Release by the City. Upon the recordation of the Dedication Deed described above, the City releases and forever discharges, without limitation, Martin, his representatives, agents, successors, assigns, and attorneys, from any and all claims, demands, causes of suit, causes of action, damages or expenses, whether known or unknown, which the City has or may have against Martin relating to the Property and the claims pending in the Lawsuit. This release does not extend to or affect the types or amounts of the City's LID expenditures which the City may lawfully include in the total cost of the LID to be apportioned among LID property owners and collected through LID assessments. 3. Release by Martin. Upon close of Escrow and receipt by Martin of the City's funds described above, Martin releases and forever discharges, without limitation, the City, its officers, employees, representatives, agents, successors, assigns, and attorneys, from any and all claims, demands, causes of suit, causes of action, damages or expenses, known or unknown, which Martin has or may have against the City arising from or related to the Property and the Lawsuit. This release does not extend to or affect any rights, interests or claims Martin may have relating to Martin's interest in land adjacent to (or in the vicinity of) the Property. 4. Dismissal. Upon the execution of this Settlement Agreement, the close of Escrow, recordation of the Dedication Deed, and disbursement of the City's funds to Martin, the parties agree and direct their attorneys of record to execute and file a stipulation to 2GLS\4441 vf. doc/ 1/ 15/9&2 - SETTLEMENT AGREEMENT AND MUTUAL RELEASE dismiss the Lawsuit with prejudice and without cost or expense to either party in the form attached to this Agreement as Exhibit 2. 5. Representation and Warranties. The parties agree and represent to each other, and agree with each other, as follows: a. The parties each declare and acknowledge that they have had an opportunity to confer with their attorneys prior to executing this document. This Settlement Agreement is a result of arms-length negotiations between the parties. b. The Settlement Agreement has been carefully read by, the contents are known and understood by, and it is freely signed by each person executing this Settlement Agreement. The signatory for the City has full authority to execute and perform this Settlement Agreement and has been authorized to do so by the City. C. The parties each declare and acknowledge that all of the terms of this document are voluntarily accepted, that all the terms of the settlement are incorporated herein, and that this Settlement Agreement is executed based on knowledge of the facts and is not made in any reliance of any statement of any person except as contained herein.. 6. No Assignment. Each of the parties hereby warrants and represents that they have not made or caused to be made any assignments of any claim, right or causes of action that they have, or may in the future have, against the parties herein released. 7. Assessment Hearing. The City agrees not to hold the hearing called for by Tigard Municipal Code 13.04.060(c)(6) regarding the Dartmouth LID until after January 1, 1998. 8.. Counterparts. This Settlement Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument. 9. Integration. This Settlement Agreement constitutes a single, integrated written contract expressing the entire agreement of the parties relating in any way to the subject matter contained in this Settlement Agreement. No covenants, agreements, representations, or warranties of any kind whatsoever have been made by either party, except as provided for in this Agreement. All prior or contemporaneous discussions and negotiations have been and are merged and integrated into, and are superseded by, this Settlement Agreement. 10. Severability. In the event that any of the provisions of this Settlement Agreement shall be held to be void, voidable, or unenforceable, the remaining provisions shall remain in full force and effect. 3- SETTLEMENT AGREEMENT AND MUTUAL RELEASE GLS14441vf.doc11/15198-2 f-a 6-9~ 11. Mutual Preparation. Each party intends that this Agreement in all respects shall be deemed and construed to have been prepared mutually by all parties to this Agreement. It is hereby expressly agreed that any uncertainty existing herein shall not be construed against either party. 12. Modifications. Any modification of this Settlement Agreement or additional obligation assumed by any party to this Settlement Agreement in connection with this Settlement Agreement shall be binding only if evidenced in a writing signed by each party, or an authorized representative of each party. IN WITNESS HEREOF, the parties hereto and their attorneys have each approved and executed this Settlement Agreement on the date set forth opposite their respective signatures. CITY OF TIGARD GORDON R. MARTIN, SR. Its: f( h~ r/1 Gordon R. Martin, Sr. Date: Date:l -1 4S Approved As to Form: Approved As tol Form: CHARLES E. GAN, OSB #76108 DOUGLA V. VAN , OS #86099 Of Attorneys for Ci gard Of Attorneys for Gordon R. Martin, Sr. 4- SETTLEMENT AGREEMENT AND MUTUAL RELEASE GLS14441vf.doc/1/15/98-2 i RIGHT-OF-WAY DESCRIPTION DARTMOUTI i STREET EXl 1;NSION PORTION OFTAX LOT 101 2S I 1 Ii,A PARCEL F A parcel 'of land lying in the Southeast 1/4 and the Southwest 1/4 of Section 36, 1' 1 S. R 1 W. Willamette Meridian, and the Northeast ]/4 of' Section 1, T 2 S. R 1 W, Willarnette tMeridian, City of Tigard, Washington County, Oregon, being a portion of that particular tract described in Deed Book 495, Page 98 of the Washington County Decd Records, more particularly described as follows: Beginning,, at a 1-1/2 inch iron pipe marking the southwest corner of the a 1..ipi11.111 tract as recorded in Deed Book 153 Page 313 of the Washington County Decd Record; thence S 89° l 6' 25" E, along the south line of said tract, a distance of 168.22 feet thence S 74° 0.0' 53- 1 a distance of 234.61 feet; thence S 01' 37' 47" \ a distance of 72.26,- thence N 74' 00' 53" W a distance of 533.43 feet to a point of curve to the ri<,ht, thence alono said cure to the right with a radius of 535.00 feet, a delta of 02° 47' 01... (a chord which bears N 72° 37' 22" W, 25.99 feet), and a length of 25.99 feet; thence S 83° 51 30" E l -1.6 79 feet to the point of beginning. Parcel Containing 26717 square feet. EX E' RIG1-1'l'-OF-Wj\Y DESCRII'l fON DARTMO1.1"1 11 S_l'fU:F`.T EX'1 1-:NSION PORTION OFTAX 1.0'1 100 -IS I I J~A A parcel of land lying in the Southeast 1/4 and the Soullmcst 1'4 of Section 36. '1 1 R 1 \l', Willamette Meridian, and the. Northeast 1/4 of Section 1, T 2 S, FZ I W, Willamette Meridian, City of Tigard, Washington Count), Oregon, being a portion of that particular tract described in Document No. S 1-042'}27 of the. Washington County I )ccd Records, more particularly described as follows: Aeoinning at the intersection of the east line of the pvchar(!sor,.D.L.C. and the south IM" of Section 36; thence N 88° 33' 09" W, along said south line. a distance of'20 02 feet to the True Point of 13eginnina; thence N 88° 33' 09" W along said south line a distance of 150.03 feet to a point of curve to the right; thence along said cure with a radius ol' 465.00 te::t, a delta of 14° 32' 16" (a chord which bars N S I ° 17' 01.. W, 117.67 feet), and a length of 1 17.9.9 feet; thence N 74° 00' 53" W a distance of 136.52 feet, thence S 01° 37'47' W a distance of 72.26 feet; thence S 74° 00' 53" E a distance of 118.60 feet to a point of curve to the left; thence along said cur-,-e %vith a radius of 535.00 feet, a delta of 141 3='' 16" (a chord which bears S 81° 17' 01" E, 135.3S feet), and a length of 135.75 feet. thence S 88° 33' 09" E a distance of 153.04, feet to the west right-of-way line of SW 72nd Ave.; thence N 01° 00' 47" E a distance of 70.06 feet to the true point of beginning Parcel contains 28416 square feet. P; - SLOPF" EASf;MENT DESCRIP"I'ION DARTrNIO1.1Ti { :S"I`[Z[:[:"[ E:X I L:NS[ON PORTION 01 FAX LOT 100 2S 1 l B.A PARCH, I. A 15 foot wide parcel of land in the Northeast 1/4 cif Section 1, 1 2 1: 1 W, Willamette Meridian, City of l'i,ard, Washington County, Oregon, being; a portion of that particular tract described in Document No. 81-042427 of the Washington Count% Deed Records Said 15 foot \%idc parcel Iles south of' and adjacent to the south I!ne of tile rbllo%~111. described tract Beginning at the intersection of the east line of the Richardson T).L.C and the south lint: of Section 36: thence N 88° 33' 09" W, along said south line, a distance of'20.02 feet to the True Point of Beginning; thence N 88° 33' 09" W along said south line a distance of 150.03 feet to a point of cunVe to the right; thence along said carne % ith a radius of' 465.00 feet, a cllelta of 14° 32' 16" (a chord which bears N S1' l7. 01•• W, 117.67 feet). and a length ol' 117 99 feet; thence N 74° 00' 53" W a distance of 136.52 feet-. thence S 01 ° 37 47°• ~V a distance of 72.26 feet; thence S 74° 00' 17 a distance of 118.60 feet to a point of curve to the left; thence along said curve with a radius of 535.00 feet, a delta of 116 32' 16" (a chord which bears S SI° 17' 01" E,, 135.38 and a length of 1 ) , feet; thence S 88° 33' 09" E a distance of 153.04 feet to the west right-of-~~a`~ line of S«' 72nd Ave.; thence N 01° 00' 47" E a distance of 70.06 feet to the true point of beginning. Parcel contains 61 15 square feet. /~?~Qv Ell L--4 J. STREET U `1995-013 l I ii • 14'32'16'' s r~~T R 465 00 S83'S- 0" 168.22' L = 11, 7 99 146.79' 589'16'25'E S74 © CHORD t 7.67 Pq C~53„~ 234 6t HO 26171 BO r,. R;r G - t 7 S EC - 02'47' _ N7 4~~E FEE 4 36 52 r R = 535.^v 0' 4 0053„w r 501.37 47"W N7 d0'S rw t) C):'> = 25.99 533.43 _ 72 26 CHORD = 25.99 b,60 RCFi. CHORD 6EAR1NG ti72'37 22 w S~4'00•532841E SC)U,^,F:(_ ;..r 15' SLOPE EASEMENT 14'32'16 5' cLOPE R = 535:00' ~EaSEMEti' .L 13 5.7 5' CHORD = 135 38' CHORD BEARING = 581 7'01'.E 1 2 3 4 IN THE CIRCUIT COURT FOR THE STATE OF OREGON 5 FOR "I HE COUNTY OF WASHINGTON 6 CITY OF TIGARD, an Oregon municipal ) Case No. C970604CV corporation, ) 7 ) STIPULATED DISMISSAL WITi-I Plaintiff, ) PREJUDICE 8 ) vs. ) 9 ) .GORDON R. MARTIN, SR., ) 10 ) Defendant. ) 12 On endorsed STIPULATION of the parties through their attorney that this case has been 13 settled, this court 14 ORDERS AND ADJUDGES that this action is dismissed with prejudice and wiihoul costs to 15 any party. 16 Dated this day of January, 1998. 17 Circuit Court Judge It is so stipulated: I8 19 Douglas V. Van Dyk, OSB #186099 Charles E. Corrigan, 08B 1176108 Tarlow, Jordan &.Schrader O'Donnell Ramis Crew Corrigan & 26 PO Box 230669 Bachrach, LLP Portland OR 97281 1727 NW Hoyt Street 21 Telephone: (503) 598-7070 Portland OR 97209 Telephone: (503) 222-4402- 22 Of Attorneys for Defendant Of Attorneys for Plainuft Submitted by: 24 Douglas V. Van Dyk Tarlow. Jordan & Schrader 2~ Attorneys for Defendant S I ' { P t ; 1 . A D DISNIISS:IL %k I H I IlkI Il1DK l 1 I ARI (AV J()RI)A\ IK "(IIK \DI R , 1'O ISIK ~11(-(,1) . 1 Ir hm I and ()I, O'DONNELL RAMIS CREW CORRIGAN & BACHRACH, LLP JEFF H. BACHRACH CLACKAMAS COUNTY OFFICE LAW MARK L BUSCH ATTORNEYS AT 181 N. Grant, Suite 202 D. DANIEL CHANDLER 1727 N.W. Hoyt StrSuvua t Portland, Oregon 97209 Canby, Oregon 97013 DOMINIC G. COLLETTA•• TELEPHONE: (503) 266-1149 CHARLES E. CORRIGAN* TELEPHONE: (503) 222-4402 STEPHEN F. CREW FAX: (503) 243-2944 MARTIN C. DOLAN VANCOUVER, WASHINGTON OFFICE GARY F. FIRESTONE' First Independent Place WILLIAM E. GAAR 1220 Main Street, Suite 451 G. FRANK HAMMOND• PLEASE REPLY PORTLAND OFFICE Vancouver, Washington 98660-2964 MALCOLM JOHNSON- TELEPHONE: (360) 699-7291 MARK P. O'DONNELL FAX: (360) 699-7221 T. CHAD PLASTER February 4 1998 , TIMOTHY V. RAMS WILLIAM J. STALNAKER JAMES M. COLEMAN ANDREW H. STAMP SPECIAL COUNSEL • ALSO ADMITTED TO PRACTICE IN WASHINGTON ALSO ADMITTED TO PRACTICE IN CALIFORNIA ADMITTED TO PRACTICE IN WASHINGTON ONLY ALSO ADMITTED TO PRACTICE IN WASHINGTON AND MONTANA CERTIFIED MAIL. RETURN RECEIPT REQUESTED Douglas V. Van Dyk Tarlow Jordan & Schrader P.O. Box 230669 Portland, Oregon 97281 Re: Gordon Martin Sr./City of Tigard Dear Doug: Enclosed with this letter please find one original fully executed Settlement Agreement and Mutual Release with regard to the above-referenced matter. A duplicate, fully executed original has been transmitted to the City of Tigard for its permanent records. As you are aware, escrow in this matter is scheduled to close February 5, 1998. Thank you for your continuing courtesy, and your assistance in bringing this matter to an amicable conclusion. Very t ly yours, 'c G. CGlletta DGC/nak Enclosure cc: City of Tigard Attn: William A. Monahan (W/o encl.) - Attn: Wayne Lowry (w/o encl.) Charles E. Corrigan (w/o encl.)