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Purchase Agreement from Tualatin Country Club a 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 Page I - PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS C: AO R CC'V[x ;C V 1'IU A R DECO WrY. AG2.w1x11 10/06/971 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 Page 2 - PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS C:\O RCC\PGC\T1GAR1A000NTY. AG2-pd [ 10/06/971 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. Page 3 - PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS C:AOR( CIDGCATIGAR6V000NTY.AG2.wpd[IO/0(/5771 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 Page 4 - PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS C: \O Rcc%DCcvr]cAR U\CO UMTY. AG2.,*[ 10/061971 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. Page 5 - PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS c•:~ox~'cux •~ri~nki>~courrrv.nc^.µ~~ iaoei~ 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. Page 6 - PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS C'-\OR C0DG0'rIG AR D\COUMI-Y.AG2-jWf I0K61971 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 Page 7 - PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS C \ORC(^d)o~'cri(;ARI)%('OUNTV.A( .,*[1Oro6/971 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. Page 8 - PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS C: \0 RCC\[X;C\TIGARU\COUNTY.AC2.wpd(10/06/47 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: Page 9 - PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS C:\OKCC'\DGC'CI'I<:;A KD\C'O ifN'PY. AG2..pdf 10/06/971 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. mg,~mm,p,rw dm a a z N M 3 COOK PARK AWAA TD K PLOCKASO axn 220 AQC 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. i mY ioftrab #olfowk da a 0 z N Cff 3 Lei I i I COOK PARK I MEA Or LOT u( T 70 T