Purchase Agreement from Tualatin Country Club
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PURCHASE AND SALE AGREEMENT
AND.IOINT ESCROW INSTRUCTIONS
THIS PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS
("Agreement") is entered into as of L8 1997 (the "Effective Date"), between
TUALATIN COUNTY CLUB, an Oregon corporation ("Seller") and the CITY OF TIGARD, an
Oregon municipal corporation ("Purchaser").
RECITALS
A. Seller is the owner of property consisting of approximately 225 acres located in
Washington County, Oregon that is described in Exhibit "A" attached hereto and incorporated herein
by reference (the "Property").
B. Purchaser desires to purchase the Property from Seller, and Purchaser and Seller
desire to preserve the Prof:~rty in its natural state, and Seller desires to sell the Property to Purchaser.
C. It is the intention of the parties to set forth in this Agreement the terms and conditions
of the sale and purchase of the Property.
D. These recitals are contractual in nature and shall be construed to give full effect to the
provisions of this Agreement.
AGREEMENT
In consideration of the mutual promises set forth in this Agreement, the parties agree as
follows-
I . Purchase Price. The purchase price (the "Purchase Price") to be paid by Purchaser to Seller
for the Property is Twenty Five Thousand and No/100 Dollars ($25,000). The Purchase Price shall
be payable in cash or other readily available funds through escrow at the Closing (as defined below).
2. Escrow and Earnest Money Payment.
2.1 :scrow Agent. Upon execution of this Agreement, the parties shall deliver
a copy of this fully executed Agreement to Oregon Title Insurance Com1-. [:y, 10220 SW Greenburg
Road, Tigard, Oregon 97223 (the "Escrow Agent"). Seller and Purchaser hereby authorize Escrow
Agent to take necessary steps for the closing of this transaction pursuant to the terms of this
Agreement. Further, Seller and Purchaser hereby authorize their respective attorneys to execute and
deliver into escrow any additional instructions consistent with this Agreement as may be necessary
or convenient to implement the terms of this Agreement and to close this transaction.
22 Earnest Money. Within five (5) days of the opening of escrow with Escrow
Agent, Purchaser shall deposit with Escrow Agent $2,500.00 (the "Earnest Money") to be applied
to the Purchase Price if the transaction contemplated herein is completed, or if the transaction is not
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completed, to be disbursed by Escrow Agent in accordance with the terms of Section 2.3 of this
Agreement.
2.3 Cancellation Fee and Expenses. In the event this escrow terminates because
of the non-satisfaction of any condition set forth in Section 3 any cancellation charges required to be
paid to Escrow Agent shall be borne by Purchaser. In the event this escrow terminates because of
Purchaser's default, the cancellation charges required to be paid to Escrow Agent shall be borne by
Purchaser. In the event this escrow terminates because of Seller's def,-_L". the cancellation charges
required to be paid to Escrow Agent shall be borne by Seller.
3. Conditions Precedent to Purchaser's Obligation to Close.
Purchaser's obligation to close the transaction described in this Agreement is expressly
continent on satisfaction or waiver by Purchaser of all of the following conditions precedent:
3.1 Approval of Title by Purchaser.
3.1.1 Preliminary Title Report. Within five (5) days of the effective
date of this Agreement, Purchaser, at Purchaser's expense, shall obtain a Preliminary Title Report
issued by the Escrow Agent, describing the Property, listing the Purchaser or the Purchaser's designee
as the prospective named insured, and showing as the policy amount the total Purchase Price. The
Escrow Agent shall also deliver to Purchaser copies of any financing statements filed against the
Property and true, correct and legible copies of all instruments referred to in such Preliminary Title
Report as conditions or exceptions to title to the Property, including liens.
3.1.2 Title Objections
3.1.2.1 Notice to Seller. In the event the Preliminary Title
Report should show any exceptions other than the Permitted Exceptions (defined below), Purchaser
shall deliver to Seller written notice of disapproval of exceptions within ten (10) days of Purchaser's
receipt of the Preliminary Title Report. Failure of Purchaser to disapprove of any exception within
such time shall be deemed an approval.
3.1.2.2 Seller's Removal of Exceptions. In the event Purchaser
shall disapprove any exceptions to title, Seller, within five (5) days of written notice of disapproval
by Purchaser, notify Purchaser in writing of those disapproved exceptions that Seller agrees to
remove, or will not remove, prior to the Closing.
3.1.2.3 Purchaser's Remedies. In the event Purchaser does not
approve the exceptions and Seller is unable or unwilling to remove the same with the exercise of due
diligence prior to Closing., the Purchaser may, in Purchaser's sole discretion, (i) suspend performance
of its obligations under this Agreement at no cost to Purchaser and extend the Closing Date until the
exceptions Seller has notified Purchaser will be removed have been removed; or (ii) terminate this
Agreement, in which event all the rights and obligations of the parties under this Agreement shall be
null and void, or (iii) agree to close this transaction subject to all unremoved exceptions. In no event
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shall Seller be required to remove or to reimburse Purchaser for the removal of any lien or other
exception to title created by Purchaser's activities with respect to the Property.
3.1.3 Permitted Exceptions. As used herein, the term "Permitted
Exceptions" means:
3.1.3.1 The standard printed exceptions contained in the Preliminary
Title Report of only zoning ordinances, building and use restrictions, reservations and federal patents,
and utility easements of record.
L' ).2 The standard printed exception for encroachments, overlaps,
boundary line disputes, and any matters which would be disclosed by an accurate survey and
inspection of the premises to the extent allowed by applicable rules and regulations unless Purchaser
obtains a survey of the Property, at its sole expense, and Purchaser obtains the right to object to any
exceptions that would be disclosed by an accurate survey.
3.1.3.3. The standard exception as to the lien for taxes, limited to the
period during which Closing is scheduled to occur for which said taxes ar- not yet due and payable.
3.1.3.4 Any exception contained in the Preliminary Title Report that
has been approved by Purchaser.
3.1.3.5 Any lien or encumbrance created by Purchaser, including any
from Purchaser to Seller.
3.2 Creation of Legal Parcel and Annexation. The parties acknowledge that it
will be necessary to partition the Property from the parcel of which it is, at the date of this
Agreement, a part and to establish the Property as a legal parcel. Purchaser agrees to bear the cost
and expense of such partition and Seller and Purchaser agree that they will execute all documents and
perform all acts necessary to complete such partition as promptly as practicable. If, at any time,
Purchaser shall detennine that the partition of the Property is not feasible, Purchaser shall notify Seller
in writing of such detennination. Such notice shall serve as a termination of this Agreement, and the
parties shall thereafter have no further obligations toward each other pursuant hereto.
3.3 Failure of Conditions Precedent. In the event of a failure of any condition
precedent to Purchaser's obligation, or if Purchaser has timely terminated this Agreement pursuant
to Sections 3.1, or 3.2, the escrow and the rights and obligations of Pu. ~-'.,tser and Seller under this
Agreement shall terminate, and the Earnest Money deposit shall be returned to Purchaser by Escrow
Agent, less an_y cancellation charges described in Section 23.
4. Seller's Warranties.
4.1 Marketable Title. Seller warrants that, at the time of Closing, that no work,
labor or materials have been expended, bestowed or placed upon the Property, adjacent thereto or
within any existing or proposed assessment district which will remain unpaid at close of escrow or
upon which a lien may be filed at close of escrow.
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4.2 Parties in Possession. Seller warrants that as of the close of escrow there
will be no rental agreements or leases affecting the Property.
4.3 Authority of Seller. Seller warrants that it has the authority to execute this
Agreement, to enter into the escrow contemplated herein, to perform all of its obligations hereunder,
and that the party executing this Agreement on behalf of Seller has been fully authorized by
appropriate resolution to bind Seller to the terms and provisions hereof.
4.4 No Option to Acquire Premises. Seller represents that no person or entity
has any right of first refusal or option to acquire any interest in the property or any part thereof.
4.5 Environmental Warranty. Without investigation beyond Seller's staff, Seller
has no knowledge of any existing or pending claim or of any facts or circumstances that may give rise
to any future civil, criminal or administrative proceedings against Seller relating to hazardous
materials. To the best of Seller's knowledge without investigation beyond Seller's staff, no hazardous
materials have been discharged upon, brought upon or stored on the Property in violation of
applicable law. As used herein "hazardous materials" means any substance the presence of which on
the Property is regulated by any federal, state or local law relating to the protection of the
environment or public health.
5. Covenants Running with the Land. Purchaser and Seller agree that it is the purpose
of this Agreement and the sale contemplated hereby to establish, keep and preserve the Property in
its natural state. Purchaser and Seller agree that it shall substantially enhance the value of the
Property and of certain adjacent lands of Seller to maintain the Property as herein provided. To that
end, the deed shall contain a restrictive covenant substantially similar to the following:
Purchaser hereby covenants for its successors, grantees, and --signs, that it will
preserve the Property in its natural state, and it shall not cause the Property to be
subject to clearing, logging, development, paving, building, cultivation, or like
activities, provided however that Purchaser and Seller agree that Purchaser may
construct a pedestrian and/or bicycle pathway over and across the Property, together
with benches and other improvements reasonably associated with such a pathway. In
its reasonable discretion, Purchaser may take such affirmative steps as are necessary
to avert or remedy damage threatened or resulting from fire, flooding, erosion,
collapse, or similar occurrences, but this covenant shall not be construed to allow
development of the Property as a public park, motorized vehicles thoroughfare,
building site, or for any other use incompatible with a natural area containing a
pedestrian/bicycle pathway.
6. Closing.
6.1 Closing Date. The closing (the "Closing") of the sale of the Property by
Seller to Purchaser shall occur in escrow in the offices of the Escrow Agent within thirty (30) days
of the satisfaction or waiver of the conditions set forth in Section 3, and all subparts thereof, of this
Agreement (the date of the Closing being the "Closing Date"). The transaction contemplated in this
Agreement is "closed" when the Deed (as defined below) to be delive,.°.: by Seller is recorded, all
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other documents required by this Agreement are executed and delivered, and the Purchase Price is
paid through escrow to Seller as provided in this Agreement.
6.2 Deliveries to Escrow Agent. In connection with the Closing, the following
shall occur, and the performance or tender of performance of all matters set forth in this Section 5.2
shall be mutually concurrent conditions:
6.2.1 Seller's Deliveries. On or before the Closing Date, Seller, at
Purchaser's cost and expense, shall deliver the following into escrow:
(1) Statutory Warranty Deed ("Deed"), fully executed and
acknowledged by Seller, conveying to Purchaser the Property free and clear of all encumbrances
other than the Permitted Exceptions;
(ii) At Closing, Seller shall cause to be issued to Purchaser an ALTA
standard coverage owner's title policy in the amount of the total Purchase Price that shall insure fee
simple, indefeasible title (o the Property in Purchaser, subject only to the Permitted Exceptions,
provided that Purchaser shall have the right to order an ALTA extended coverage owner's policy.
Seller shall be responsible for and pay the premium for the standard ALTA owner's policy, and
Purchaser shall pay the additional premium for an ALTA extended coverage owner's policy, together
with all related expenses.
(iii) Certificate executed and sworn to by Seller (a) confirming Seller's
United States taxpayer identification number and (b) stating that Seller is not a "foreign person"
within the meaning of Section 1445 of the Internal Revenue Code of the United States of America
of 1986 and otherwise in compliance with § 1.1445-2T of the regulations promulgated thereunder.
622 Purchaser's Deliveries. On or before the Closing Date,
Purchaser shall deliver the Purchase Price into escrow, receiving full credit for the Earnest Money.
6.3 Closing Costs: Prorations. Seller and Purchaser shall each pay one-half of
all escrow fees. Purchaser shall pay the cost of recording the Deed, and Seller shall pay the cost of
an ALTA standard coverage owner's policy of title insurance. Purchaser shall pay the additional
premium necessary for an ALTA extended coverage owner's policy of title insurance, if Purchaser
shall desire such extended coverage, together with all other attendant costs for such extended
coverage. Seller shall pay Washington County transfer taxes. Ad valorem and similar taxes and
assessments relating to the Property shall be prorated between Seller and 1,archaser as of the Closing
Date, Seller being charged and credited for the same up to such date and Purchaser being charged
and credited for the same on and after such date. If the actual amounts to be prorated are not known
at the Closing Date, the prorations shall be computed on the basis of the evidence then available,
when actual figures are available a cash settlement shall be made between Seller and Purchaser. The
provisions of this Section 5.3 shall survive the Closing.
6.4 Authority Documents. Purchaser and Seller shall, if requested by the other
party or the Escrow Agent, furnish satisfactory evidence of their authority to consummate the sale
and purchase contemplated by this Agreement.
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6.5 Possession. Seller shall deliver to Purchaser possession of the Property on
the first full day after completion of the Closing.
7. Remedies.
7.1 Seller's Remedies. If Purchaser fails or refuses to perform any of its
obligations under this Agreement for any reason other than failure of a condition precedent to occur
or termination of this Agreement pursuant to Sections 3.1, 3.2, or 3.3, thug Seller may terminate this
Agreement by notifying Purchaser thereof, in which event neither party shall have any further rights
or obligations hereunder and Seller may retain the Earnest Money as liquidated damages and as
Seller's exclusive remedy.
7.2 Purchaser's Remedies. If Seller fails or refuses to perform any of its
obligations under this Agreement for any reason other than termination of this Agreement by
Purchaser, then Purchaser may either: (1) terminate this Agreement by notifying Seller thereof and
thereafter neither party hereto shall have any further rights or obligations hereunder; or (ii) Purchaser
may seek any other rights, resources or remedies (including, without limitation, specific performance)
available to Purchaser, such rights, remedies and resources hereunder to be cumulative, and not in
exclusion of any other.
8. General Provisions.
8.1 Time. TIME IS OF THE ESSENCE of this Agreement.
8.2 Full Authority. Each of the signatories to this Agreement represents and
warrants that he/she has the full right, power, legal capacity and authoriti, to enter into and perform
his obligations hereunder and no approval or consents of any other person ai e necessary in connection
herewith.
8.3 Nee~ation of Agency and Partnership. Any agreement by either party to
cooperate with the other in connection with any provision of this Agreement shall not be construed
as making either party an agent or partner of the other party.
8.4 Applicable Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of Oregon.
8.5 Statutory Disclaimer. THE PROPERTY DESCRIBED IN THIS
INSTRUMENT MAY NOT BE WITHIN A FIRE PROTECTION DISTRICT PROTECTING
STRUCTURES. THE PROPERTY IS SUBJECT TO LAND USE LAWS AND REGULATIONS,
WHICH, IN FARM OR FOREST ZONES, MAY NOT AUTHORIZE CONSTRUCTION OR
SITING OF A RESIDENCE AND WHICH LIMITS LAWSUITS AGAINST FARMING OR
FOREST PRACTICES AS DEFINED IN ORS 30.930 IN ALL ZONES. BEFORE SIGNING OR
ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE
PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING
DEPARTMENT TO VE[:IFY APPROVED USES AND EXISTENCE OF FIRE PROTECTION
FOR STRUCTURES.
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8.6 Severability. If any provision of this Agreement shall be held to be void or
invalid, the same shall not affect the remainder hereof which shall be effective as though the void or
invalid provision had not been contained herein.
8.7 Modification or Amendments. No amendment, change or modification of
this Agreement shall be valid, unless in writing and signed by all the parties hereto.
8.8 Waiver. Except as otherwise provided in this Agreement, failure of
either party at any time to require performance of any provision of this Agreement shall not limit the
party's right to enforce the provision, nor shall any waiver of any breach of any provision be a waiver
of any succeeding breach of the provision or a waiver of the provision itself or any other provision.
8.9 Assignment. Seller shall not delegate its duties under this Agreement to any
party without the written consent of Purchaser which may be granted or withheld in the sole and
unfettered discretion of Purchaser. Seller acknowledges and agrees that the continuing obligation of
Seller regarding remediation of hazardous materials which may be located on the Property and for
indemnification as provided in this Agreement constitute a material portion of the consideration for
entry into the Agreement by Purchaser. Purchaser shall not assign its right, title and interest under
this Agreement without the prior written consent of Seller, which consent shall not be unreasonably
withheld by Seller, provided, however that no such consent shall release Purchaser from its
obligations hereunder.
8.10 Successors and Assigns. Subject to the provisions of Section 8.9, this
Agreement shall inure to the benefit of, and shall be binding upon, the parties hereto and their
respective heirs, legal representatives, successors and assigns.
8.11 Notice. All notices required or provided under this Agreement shall be in
writing. If mailed, notice shall be deemed effective forty-eight (48) hours after mailing as certified
mail, postage prepaid, directed to the other party at the address set forth below or such other address
as the party may indicate by written notice to the other as provided herein; notice given in any other
manner shall be effective upon receipt by the addressee. For purposes of notice, the addresses of the
parties shall be as follows:
If to Seller, to: Tualatin County Club
Attention: General Manager
P.O. Box 277
9145 SW Tualatin Road
Tualatin, OR 97062
With a copy to: Thomas S. Hillier
Davis Wright Tremaine LLP
1") 00 SW 5th Avenue
Portland, Oregon 97201
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If to Purchaser,
to: City of Tigard
Attn: Ed Wegner
13125 SW Hall Boulevard
Tigard, OR 97223
With a copy to: Pamela J. Beery
O'Donnell Ramis Crew Corrigan
& Bachrach
1727 N.W. Hoyt Street
Portland, Oregon 97209
8.12 Counterparts. This Agreement may be executed in several counterparts,
each of which shall be an original, but all of which shall constitute but cane and the same agreement.
8.13 Captions and Headings. The captions and headings of this Agreement are
for convenience only and shall not be construed or referred to in resolving questions of interpretation
or construction.
8.14 Calculation of Time. All periods of time referred to herein shall include
Saturdays, Sundays and legal holidays in the State of Oregon, except that if the last day of any period
falls on any Saturday, Sunday or such holiday, the period shall be extended to include the next day
which is not a Saturday, Sunday or such holiday.
8.15 Commissions. Each party warrants that it has not utilized the services of
an agent, broker or finder with regard to the transaction contemplated by this Agreement. Seller
hereby agrees to defend, indemnify and hold harmless Purchaser, and Purchaser hereby agrees to
defend, indemnify and hold harmless Seller, from and against any claim by any third parties not named
herein for brokerage, commission, finder's or other fees relative to this Agreement or the sale of the
Property, and any court costs, attorney's fees or other costs or expenses arising therefrom, and
alleged to be due by authorization of the indemnifying party.
8.16 Attorney Fees. If a suit, action, or other proceeding of any nature
whatsoever (including any proceeding under the U.S. Bankruptcy Code) is instituted in connection
with any controversy arising out of this Agreement or to interpret or enforce any rights hereunder,
the prevailing party shall be entitled to recover its attorneys', paralegals', accountants', and other
experts' fees and all other fees, costs, and expenses actually incurred and reasonably necessary in
connection therewith, as determined by the court at trial or on any appeal or review, in addition to
all other amounts provided by law.
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8.17 Entire Agreement. This .Agreement constitutes the entire agreement
between and among the parties, integrates all of the terms and conditions mentioned herein or
incidental hereto, and supersedes all negotiations or previous agreements between the parties or their
predecessors in interest with respect to all or any part of the subject matter hereof.
EXECUTED as of the Effective Date.
SELLER: PURCHASER:
Tual i County Club, an Ore co oration City of Tigard, an Oregon municipal
~1 C corporation
By.
Print N Arne:
Title: `-t_ 4 a O cy ► C
7- ~ may:
' Pri me: m~s I~IiC~,~'
t T; ,
it
Duly Authorized Representative
ACCEPTANCE BY TITLE COMPANY
Oregon Title Insurance Company, by its duly authorized signature below, agrees to accept this
escrow on the terms and conditions of, and to comply with the instructions contained in, the
foregoing Agreement.
Oregon Title Insurance Company
By:
Print Name:
lts:
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EXHIBIT y
LEGAL DESCRIPTION
A TRACT OF LAND SITUATED IN THE SOUTHEAST ONE-QUARTER OF
SECTION 14, TOWNSHIP 2 SOUTH, RANGE I WEST, WILLAMETTE MERIDIAN,
CITY OF TIGARD, WASHINGTON COUNTY, OREGON, DESCRIBED AS
FOLLOWS:
THAT PROPERTY LYING NORTHERLY OF THE TUALATIN RIVER WITHIN
THE SOUTHEAST ONE-QUARTER OF THE SOUTHEAST ONE-QUARTER OF
SECTION 14, TOWNSHIP 2 SOUTH, RANGE I WEST, WILLAMETTE MERIDIAN
BEING DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF THE PROPERTY DESCRIBED
IN DOCUMENT NUMBER 91065110 OF THE WASHINGTON COUNTY DEED
RECORDS, ALSO BEING THE BEGINNING POINT IN A DEED GIVEN TO
TUALATIN COUNTRY CLUB IN BOOK 105 PAGE 445 OF THE WASHINGTON
COUNTY DEED RECORDS BEING ON THE NORTH LINE OF SAID SOUTHEAST
ONE-QUARTER OF THE SOUTHEAST ONE-QUARTER; THENCE N 88° 38'48"
W. ALONG SAID NORTH LINE, A DISTANCE OF 567.07 FEET TO THE MEAN
HIGH WATER LINE OF THE TUALATIN RIVER; THENCE ALONG SAID MEAN
HIGH WATER LINE THE FOLLOWING FOURTEEN COURSES; THENCE S 17°
07'14" E A DISTANCE OF 44.58 FEET; THENCE S 34° 21' 20" E A DISTANCE OF
68.54 FEET, THENCE S 40° 52'41" E A DISTANCE OF 29.92 FEET; THENCE S
51 ° 09' 17" E A DISTANCE OF 72.99 FEET; THENCE S 59° 05' 20" E A DISTANCE
OF 82.23 FEET; THENCE S 66° 53' 27" E A DISTANCE OF 38.24 FEET; THENCE
S 780 18' 04" E A DISTANCE OF 36.49 FEET; THENCE N 89° 03)'.3 3" E A
DISTANCE OF 74.66 FEET; THENCE N 80° 25'26" E A DISTANCE OF 54.65
FEET; THENCE N 74° 14' 08" E A DISTANCE OF 52.46 FEET; THENCE N 51° 14'
50" E A DISTANCE OF 46.44 FEET; THENCE N 39° 02' 34" E A DISTANCE OF
64.60 FEET; THENCE N 03'28'35" W A DISTANCE OF 33.02 FEET; THENCE N
60° 40' 35" E A DISTANCE OF 48.78 FEET TO THE WEST LINE OF DOCUMENT
NUMBER 91065110; THENCE N 00° 45'29" E, ALONG SAID WEST LINE, A
DISTANCE OF 52.51 FEET TO THE POINT OF BEGINNNING.
CONTAINING 95681 SQUARE FEET.
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LEGAL DESCRIPTION
FOR
PROPERTY LINE ADJUSTMENT TO COOK PARK
A TRACT OF LAND SITUATED IN THE SOUTHEAST ONE-QUARTER OF
SECTION 14, TOWNSHIP 2 SOUTH, RANGE I WEST, WILLAMETTE MERIDIAN,
CITY OF TIGARD, WASHINGTON COUNTY, OREGON, DESCRIBED AS
FOLLOWS:
THAT PROPERTY LYING NORTH OF THE TUALATIN RIVER WITHIN THE
SOUTHWEST ONE-QUARTER OF THE SOUTHEAST ONE-QUARTER OF
SECTION 14, TOWNSHIP 2 SOUTH, RANGE 1 WEST, WILLAMETTE MERIDIAN.
BEGINNING AT THE NORTHWEST CORNER OF THE SOUTHWEST ONE-
QUARTER OF THE SOUTHEAST ONE-QUARTER OF SECTION OF SAID
SECTION 14; THENCE S 88° ')8'48" E A DISTANCE OF 295.85 FEET TO THE
MEAN HIGH WATER LINE AND THE TRUE POINT OF BEGINNING; THENCE
ALONG THE MEAN HIGH WATER LINE THE FOLLOWING TEN COURSES;
THENCE S 50° 12'27" E A DISTANCE OF 6.71 FEET; THENCE S 59° 59'49" E A
DISTANCE OF 30.03 FEET; THENCE S 51 ° 00' 20" E A DISTANCE OF 22.03
FEET; THENCE S 68° 19'01" E A DISTANCE OF 8.00 FEET; THENCE S 89°14'
49" E A DISTANCE OF 9.64 FEET; THENCE N 61 ° 22' 54 E A DISTANCE OF 10.54
FEET; THENCE N 53° 30' 17" E A DISTANCE OF 11.26 FEET; THENCE N 58° 45'
47" E A DISTANCE OF 11.38 FEET; THENCE N 6542'_3 I" E A DISTANCE OF
18.52 FEET; THENCE N 71 ° 15' 00" E
A DISTANCE OF 24.39 FEET TO THE NORTH LINE OF SAID SOUTHWEST ONE-
QUARTER; THENCE N 88° 38'48" W A DISTANCE OF 133.40 FEET TO THE
TRUE POINT OF BEGINNING.
CONTAINING 2345 SQUARE FEET.
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