Loading...
96-047221 ton . ,ty of Washing , Assess- Director of unt at !R 11anson, 0if cio Ga tvl 1 ferry • ~x- and taxation a 6o i'Jereby certify ive ment Said county, 'V ritln~ Nos r ofi rsald Glerk for o of .'records the `NAM" Cjecj ` cnt f book and recorded county' ~ Hinson, Director of Jerry R' and Taxation, Ex- pssessmentt Glerk vVkcio Goun Y 0t 72,2 o•n :1.47' 1 • 2~azn 051.1 6/1,99(o NG W aai~ 1cn A,• of ltin C~f j, 13 -j S a ^ 9T) ` i4od, psi T BE SEI~ S Sgp,L1, ALL TAX STA` "d, Oregon 91223 IS OQviESTED, -fall Blvd., Tig gah Blvd, Tigard' uLESS A AT tY of Tlgd' 13125 S w of Tigard, 13125 S' w G~PS City ; be delivered to_ After recording, this Deed shall Oregon 97223 RO "Jvj DEED BA wed dulY a corporat" ah , CT OF OAB CO TOg, vey5 to Oregon 97223, to- N NC of Delaware, O Blvd., Tigard' Oregon, of the State gall County, esting under the la corporation, of olerty situated in washirigton and RD G ' a ITMCIP e folowmg described real Pr p 2 South, Range E,, th Tewn-h P Oregon, GUOTE ,la of Section 2, of Tigard, City vvit: Northeast county, and situated in the Washington p,, tract of' an ette -meridian, Partition 1 west, witlam County plat as follows: ashington described Plat 1996-026 as recorded inw parcel 2 of partition records. ance is $30,Q~0 00• to all reservations, The true consideration for this convey interests, including but not 1~ted e%19019 Pd way wever, to or otherwise the Oregon Electric i~c~nn rlatPd SAW CT, ho of record and easements ent granted by -gigliv~ay Coma' L Y rights-of way that certain easem State SO, to by and through its bridge. S ACT of Oregon, acting ct and manmtain an overhead aannd the State t to constru Grantor, its successors Company 10S7 for the f of every kin her 11939, G, however, unto said n~nerals ed, together Decem gEI~ as and all ores and convey rotect, ses herein C Y. a, EpTING A" od, gas, casing-h he surface of t to eXP re, or drill four and A h light assigns, a ll of the c and gravel under yin and all times nn ht of nth the sand ucts in together nature, includngt, pri`1ege and license at any all such prod conveyed, and marke rem ses herein _ with thefull inehtake, remouace of the a ~a conserve, cures on the damage structures to exercise said fights ®0 access at , u- OREGON TITLE INSURANCE COMPANY 1515 SW Fifth Avenue, Ste 800 Portland, Oregon 97201 (503)220-0015 FAX 228-4848 City of Tigard DATE June 3, 1996 13125 SW Hall Blvd. ESCROW: 121540w Tigard, Oregon 97223 William A. Monahan PROPERTY: Parcel 2 RE: BURLINGTON NORTHERN Partition Plat 1996-026 In reference to the above escrow, I am enclosing the following: [X] Copy of the Nonforeign Certificate If you have any questions, please don't hesitate to contact the undersigned. Ver y yours, GON TITLE URANCE COMPANY c c~1 o~ s n Escrow Officer w NONFOREIGN CERTIFICATE Exemption From Withholding of Tax for Dispositions of U.S. Real Property Interests Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a foreign person. To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by BURLINGTON NORTHERN RAILROAD COMPANY, Transferor, the undersigned hereby certifies the following: 1. BURLINGTON NORTHERN RAILROAD COMPANY, Transferor, is not a nonresident alien, foreign corporation, foreign partnership, foreign trust, or foreign estate for purposes of U. S. income taxation. (If the transferor is a foreign corporation that has made a valid election under Section 897 (1) of the Internal Revenue Code to be treated as a domestic corporation, a copy of the acknowledgment of the election provided to the corporation by the Internal Revenue Service, is attached hereto); 2. BURLINGTON NORTHERN RAILROAD COMPANY's taxpayer identifying number (Social Security or U.S. employer number) is 41-603-4000; and 3. BURLINGTON NORTHERN RAILROAD COMPANY's address is 3300 Continental Plaza, 777 Main Street, Fort Worth, Texas 76102. BURLINGTON NORTHERN RAILROAD COMPANY understands that this certification may be disclosed to the Internal Revenue Service by the transferee and that any false statement contained herein could be punished by fine, imprisonment, or both. Under penalties of perjury I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct, and complete, and I further declare I have authority to sign this document in the capacity indicated. BURLINGTON NORTHERN RAILROAD COMPANY By: D. Schneider Director Real Estate Date: .5 Z Z - g~ BN 11417 Tigard, OR POLICY OF TITLE INSURANCE ISSUED BY a 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 in the 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 INSURANCE COMPANY Countersigned BY~ . `p ~4 PRESIDENT b f A orized 5H _c ATTESTSECRETARY OTIC 923 - ALTA Owner's Policy (10-17-92) EXCLUSIONS FROM COVERAGE 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: e 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 cepted from coverage, which would entitle a purchaser of 4. DEFENSE AND PROSECUTION OF ACTIONS; The following terms when used in this policy mean: the estate or interest described in Schedule A to be released DUTY OF INSURED CLAIMANT TO from the obligation to purchase by virtue of a contractual COOPERATE: (a) "insured": the insured name in Schedule A, and, condition requiring the delivery of marketable title. subject to any rights or defenses the Company would have (a) Upon written request by the insured and subject to had against the named insured, those who succeed to the (h) "leasehold estate": the right of possession for the the options contained in Section 6 of these Conditions and interest of the named insured by operation of law as distin- term or terms described in Schedule A hereof subject to any Stipulations, the Company, at its own cost and without an- guished from purchase including, but not limited to, heirs, provisions contained in the Lease which limit the right of reasonable delay, shall provide for the defense of an insured distributees, devisees, survivors, personal representatives, possession. in litigation in which any third party asserts a claim adverse next of kin, or corporate or fiduciary successors. to the title or interest as insured, but only as to those stated (b) "insured claimant": an insured claiming loss or 2. CONTINUATION OF INSURANCE AFTER causes of action alleging a defect, lien or encumbrance or CONVEYANCE OF TITLE. other matter insured against by this policy. The Company damage. shall have the right to select counsel of its choice (subjectto (c) "knowledge" or "known" actual knowledge, not The coverage of this policy shall continue in force of the right of the insured to object for reasonable cause) to constructive knowledge or notice which may be imputed to Date Policy favor of an insured only so long the e in- sured retains an estate or interest in the land, or holds an in- represent the insured as to those stated causes of action an insured by reason of the public records as defined in this and shall not be liable for and will not pay the fees of any policy or any other records which impart constructive notice debtedness secured by a purchase money mortgage given other counsel. y by a purchaser from the insured, or only so long as the in- . The Company will not pay any fees, costs or o of matters affecting the land. sured shall have liability by reason of covenants of warranty expenses incurred by the insured in the defense of those (d) "land": the land described or referred to in made by the insured in any transfer orconveyance ofthe es- causes of action which allege matters not insured against by Schedule (A), and improvements affixed thereto which by tate or interest. This policy shall not continue in force in favor this policy. law constitute real property. The term "land" does not in- of any purchaser from the insured of either (i) an estate or in- (b) The Company shall have the right, at its own cost, clude any property beyond the lines of the area described or terest in the land, or (ii) an indebtedness secured by a pur- to institute and prosecute any action or proceeding or to do referred to in Schedule (A), nor any right, title, interest, es- chase money mortgage given to the insured. any other act which in its opinion may be necessary ordesir- tate or easement in abutting streets, roads, avenues, alleys, able to establish the title to the estate or interest, as insured, lanes, ways or waterways, but nothing herein shall modify or 3. NOTICE OF CLAIM TO BE or to prevent or reduce loss or damage to the insured. The limit the extent to which a right of access to and from the land GIVEN BY INSURED CLAIMANT. Company may take any appropriate action under the terms is insured by this policy. The insured shall notify the Company promptly in writing of this policy, whether or not it shall be liable hereunder, and (e) "mortgage": mortgage, deed of trust, trust deed, (i) in case of any litigation as set forth in Section 4(a) below, shall not thereby concede liability or waive any provision of or other security instrument. (ii) in case knowledge shall come to an insured hereunder of this policy. If the Company shall exercise its rights underthis (f) "public records": records established under state any claim of title or interest which is adverse to the title to the paragraph, it shall do so diligently. statutes at Date of Policy for the purpose of imparting con- estate or interest, as insured, and which might cause loss or (c) Whenever the Company shall have brought an structive notice of matters relating to real property to pur- damage for which the Company may be liable, by virtue of action or interposed a defense as required or permitted by chasers for value and without knowledge. With respect to this policy, or (iii) if title to estate or interest, as insured, is re- the provisions of this policy, the Company may pursue any Section 1(a)(iv) of the Exclusions From Coverage, "public jected as unmarketable. If prompt notice shall not be given litigation to final determination by a court of competent jyris- records" shall also include environmental protection liens to the Company, then as to the insured all liability of the diction and expressly reserves the right, in its sole discre- filed in the records of the clerk of the United States district Company shall terminate with regard to the matter or mat- tion, to appeal from any adverse judgment or order. court for the district in which the land is located. ters for which prompt notice is required; provided, however, (d) In all cases where this policy permits or requires (g) "unmarketability of the title": an alleged or appar- that failure to notify the Company shall in no case prejudice the Company to prosecute or provide for the defense of any ent matter affecting the title to the land, not excluded or ex- the rights of any insured under this policy unless the com- pany shall be prejudiced by the failure and then only to the extent of the prejudice. (Continued on inside back cover) CONDITIONS AND STIPULATIONS (Continued from inside front cover) action of proceeding, the insured shall secure to the Com- (i) to pay or otherwise settle with other parties for tion of any appeals therefrom, it shall have fully performed pany the right to so prosecute or provide defense in the ac- or in the name of an insured claimant any claim insured its obligations with respell to that matter and shall not be li- tion or proceeding, and all appeals therein, and permit the against under this policy, together with any costs, attorneys' able for any loss or damage caused thereby. Company to use, at its option, the name of the insured for fees and expenses incurred by the insured claimant which (b) In the event of any litigation, including litigation by this purpose. Whenever requested by the Company, the in- were authorized by the Company up to the time of payment y g y sured, at the Company's expense, shall give the Company and which the Company is obligated to pay; or the Company with the Company's consent, the Company all reasonable aid i in any action or securin shall have no liability for loss or damage until there has been Y proceeding, 9 (ii) to pay or otherwise settle with the insured a final determination by a court of competent jurisdiction, evidence, obtaining witnesses, prosecuting or defending claimant the loss or damage provided for under this policy, and disposition of all appeals therefrom, adverse to the title ,the action or proceeding, or effecting settlement, and (ii) in together with any costs, attorneys' fees and expenses incur- or to the lien of the insured mortgage, as insured. any other lawful act which in the opinion of the Company red by the insured claimant which were authorized by the may be necessary or desirable to establish the title to the es- (c) The Company shall not be liable for loss or dam- Company up to the time of payment and which the Company 4 tate or interest, as insured. If the Company is prejudiced by is obligated to pay. age to any insured for liability voluntarily assumed by the in- the failure of the insured to furnish the required cooperation, Upon the exercise by the Company of either of the options sured in settling any claim or suit without the prior written the Company's obligations to the insured under the policy provided for in paragraphs (b)(i) or (ii) the Company's obli- consent of the Company. shall terminate, including any liability or obligation to defend, gations to the insured under this policy for the claimed loss prosecute, or continue any litigation, with regard to the mat- 10. REDUCTION OF INSURANCE; REDUCTION or damage, other than the payments required to be made, ter or matters requiring such cooperation. shall terminate, including any liability or obligation to defend, OR TERMINATION OF LIABILITY. 5. PROOF OF LOSS OR DAMAGE. prosecute or continue any litigation. (a) All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce In addition to and after the notices required under Section 7. DETERMINATION AND EXTENT OF LIABILITY the amount of the insurance pro tanto. 3 of these Conditions and Stipulations have been provided AND COINSURANCE. the Company, a proof of loss or damage signed and sworn This policy is a contract of indemnity against actual mone- 11. LIABILITY NONCUMULATIVE. to by the insured claimant shall be furnished to the Company tary loss or damage sustained or incurred by the insured it is expressly understood that the amount of insurance within 90 days after the insured claimant shall ascertain the claimant who has suffered loss or damage by reason of mat- under this policy shall be reduced by any amount the Com- facts giving rise to the loss or damage. The proof of loss or ters insured against by this policy and only to the extent an ma pay under any policy insuring a towhich damage shall describe the defect in, or lien or encumbrance herein described. exception may y y ed Y g on the title, or other matter insured against by this policy exception i s taken in Schedule l3 or to which the insured has which constitutes the basis of loss a damage and shall (a) The liaiblity of the Company under this policy shall agreed, assumed, or taken subject, or which is hereafter ex- not exceed the least of: ecuted by an insured and which is a charge or lien on the es- state, extent t possible, f calculating ating the tate or interest described or referred to in Schedule A, and amount to of the the loss llamage. the the basis Company y prejudiced (i) the Amount of Insurance stated in Schedule the amount so paid shall be deemed a payment under this by the failure of the insured claimant to provide the required A; or, policy to the insured owner. ` proof of loss or damage, the Company's obligations to the (ii) difference between the value of the in- insured under the policy shall terminate, including any liabil- ity or obligation to defend, prosecute, or continue any litiga- sured estate or interests as insured and the value of the m- 12. PAYMENT OF LOSS. tion, with regard to the matter or matters requiring such sured estate or interest subject to the defect, lien or encum (a) No payment shall be made without producing this proof of loss or damage. brance insured against by this policy. policy for endorsement of the payment unless the policy has In addition, the insured claimant may reasonably be re- (b) In the event the Amount of Insurance stated in been lost or destroyed, in which case proof of loss or de- quired to submit to examination under oath by any au- Schedule A at the Date of Policy is less than 80 percent of struction shall be furnished to the satisfaction of the Com- thorized representative of the Company and shall produce the value of the insured estate or interest or the full consid- pany. for examination, inspection and copying, at such reasona- eration paid for the land, whichever is less, or if subsequent ble times and places as may be designated by any au- to the Date of Policy an improvement is erected on the land (b) When liability and the extent of loss or damage which increases the value of the insured estate or interestb has been definitely fixed in accordance with these Condi- thorized representative of the Company, all records, books, Y ledgers, checks, correspondence and memoranda, at least 20 percent over the Amount of Insurance stated in tions and Stipulations, the loss or damage shall be payable within 30 days thereafter. whether bearing a date before or after Date of Policy. which Schedule A, then this Policy is subject to the following. reasonably pertain to the loss or damage. Further, if re- (i) where no subsequent improvement has been 13. SUBROGATION UPON PAYMENT quested by any authorized representative of the Company, made, as to any partial loss, the Company shall only paythe OR SETTLEMENT. the insured claimant shall grant its permission, in writing, for loss pro rata in the proportion that the amount of insurance any authorized representative of the Company to examine, at Date of Policy bears to the total value of the insured estate (a) The Company's Right of Subrogation. inspect and copy all records. books, ledgers, checks, cor- or interest at Date of Policy: or (ii) where a subsequent im- Whenever the Company shall have settled and paid a respondence and memoranda in the custody or control of a provement has been made, as to any partial loss, the Com- claim under this policy. all right of subrogation shall vest in third party, which reasonably pertain to the loss or damage. pany shall only pay the loss pro rata in the proportion that the Company unaffected by any act of the insured claimant. All information designated as confidential by the insured 120 percent of the Amount of Insurance stated in Schedule The Company shall be subrogated to and be entitled to all claimant provided to the Company pursuant to this Section A bears to the sum of the Amount of Insurance stated in rights and remedies which the insured claimant would have shall not be disclosed to others unless, in the reasonable Schedule A and the amount expended for the improvement. had against any person or property in respect to the claim f judgment of the Company, it is necessary in the administra- The provisions of this paragraph shall not apply to costs, had this policy not been issued. If requested by the Com- tion of the claim. Failure of the insured claimant to submit for attorneys' fees and expenses for which the Company is ii- pany, the insured claimant shall transfer to the Company all examination under oath, produce other reasonably re- able under this policy, and shall only apply to that portion of rights and remedies against any person or property neces- quested information or grant permission to secure reasona- any loss which exceeds, in the aggregate, 10 percent of the sary in order to perfect this right of subrogation. The insured bly necessary information from third parties as required in Amount of Insurance stated in Schedule A. claimant shall permit the Company to sue, compromise or this paragraph, unless prohibited by law or governmental insured claimant and to use the the regulation, shall terminate any liability of the Company (c) The Company will pay only those costs, attorneys' settle insured of the claimant insrd transaction t litigation under this policy as to that claim. fees and expenses incurred in accordance with Section 4 of name in in the the name any these Conditions and Sstipulations. involving these rights or remedies. If a payment on account of a claim does not fully cover the 6. OPTIONS TO PAY OTHERWISE SETTLE 8. APPORTIONMENT. loss of the insured claimant, the Company shall be subro- CLAIMS: TERMINATION OF LIABILITY. gated to these rights and remedies in the proportion which In case of a claim under this policy, the Company shall If the land described in Schedule (A) consists of two or the Company's payment bears to the whole amount of the have the following additional options: more parcels which are not used as a single site, and a loss loss. is established affecting one or more of the parcels but not all. If loss should result from any act of the insured claimant, (a)' To Pay or Tender Payment of the Amount of Insur- the loss shall be computed and settled on a pro rata basis as as stated above, that act shall not void this policy, but the ance. if the amount of insurance under this policy was divided pro Company, in that event, shall be required to pay only that To pay or tender payment of the amount of insur- rata as tothe value on Date of Policy of each separate parcel part of any losses insured against by this policy which shall ance under this policy together with any costs, attorneys' to the whole, exclusive of any improvements made sub- exceed the amount, if any, lost to the Company by reason of fees and expenses incurred by the insured claimant, which sequent to Date of Policy, unless a liability or value has the impairment by the insured claimant of the Company's wpre authorized by the Company, up to the time of payment otherwise been agreed upon as to each parcel by the Com- right of subrogation. or tender of payment and which the Company is obligated to pany and the insured at the time of the issuance of this policy pay. and shown by an express statement or by an endorsement (b) The Company's Rights Against Non Insured Upon the exercise by the Company of this option, all liabil- attached to this policy. Obligors. ity and obligations to the insured under this policy, other than The Company's right of subrogation against non- to make the payment required, shall terminate, including 9. LIMITATION OF LIABILITY. insured obligors shall exist and shall include, without limita- any liability or obligation to defend, prosecute, or continue (a) If the Company establishes the title, or removes tion, the rights of the insured to indemnities, guaranties, any litigation, and the policy shall be surrendered to the the alleged defect, lien or encumbrance, or cures the lack of other policies of insurance or bonds, notwithstanding any Company for cancellation. a right of access to or from the land, or cures the claim of un- terms or conditions contained in those instruments which (b) To Pay or Otherwise Settle With Parties Other marketability of title, all as insured, in a reasonably diligent provide for subrogation rights by reason of this policy. than the Insured or With the Insured Claimant. manner by any method, including litigation and the comple- (Continued on back) CONDITIONS AND STIPULATIONIF (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 LIMITED TO THIS POLICY; tached hereto signed by either the President, a Vice Presi- All notices required to be given the Company and any POLICY ENTIRE CONTRACT. dent, the Secretary, an Assistant Secretary, or validating of- statement in writing required to be furnished the Company ficer or authorized signatory of the Company. shall include the number of this policy and shall be ad- (a) This policy together with all endorsements, if any, dressed to the Company at 1515 S. W. Fifth Avenue, Port- attached hereto by the Company is the entire policy and land, Oregon 97201. contract between the insured and the Company. In interpret- ALTA Owner's Policy (10/17/92) SCHEDULE A Date of Policy: May 28, 1996 At: 2:15 p.m. Policy No.: 121540w Amount of Insurance: $30,000.00 Order No.: 121540w Premium: $230.00 1. Name of Insured: City of Tigard 2. The estate or interest in the land which is covered by this policy is: A FEE 3. Title to the estate or interest in the land is vested in: City of Tigard 4. The land referred to in this policy is situated in the State of Oregon, County of Washington and is described as follows: Parcel 2, according to Partition Plat No. 1996-026, in the City of Tigard, filed March 6, 1996, Records of the County of Washington, State of Oregon. ALTA Owner's Policy (10/17/92) Policy No.: 121540w SCHEDULE B 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, 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, claims of easement or encumbrances, not shown by the public records; unpatented mining claims; reservations or exceptions in patents or in acts authorizing the issuance thereof; water rights or 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. Pursuant to O.R.S. 308.505 through 308.730, the Oregon State Department of Revenue has assessed the subject property along with other real property in Washington County which is owned by Oregon Electric Railway Company and we are unable to segregate the amount of tax, if any. Due to the power and authority of the Department of Revenue to correct any assessment errors, this property may be subject to additional taxes following a transfer to title. 7. The subject property lies within the boundaries of the Unified Sewerage Agency and is subject to the levies and assessments thereof. 8. The rights of the public in and to that portion of the herein described property lying within that portion conveyed to Washington County for road purposes, by instrument, Recorded January 23, 1940 in Book 186 Page 561 9. An easement created or disclosed by instrument, including the terms and provisions thereof, Dated December 18, 1939 Recorded February 2, 1940 in Book 187 Page 26 In favor of State of Oregon, acting by and through its State Highway Commission For A viaduct or overhead crossing over the railroad tracks Affects A portion of Parcel II (Continued) Owner's Policy No.: 121540w SCHEDULE B, CONTINUED Exceptions, Continued 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 Main Street, and any other streets, roads, and highways. 11. Conditions, restrictions and/or setbacks as disclosed by the recorded plat of PARTITION PLAT NO. 1996-026, Recorded March 6, 1996 12. Lack of a right of access to and from said land. The subject property does not appear of record to have access to a public street or way. lp 0 F. O /°O h N6o° / 0 111 0 ~Fb ''q O y ( ~ 9-70 9 ~A 19 918 '9F II 1 \ry 4p" A it, A' C O ti0 11 a h /Zp p i b 690 3 .28A4c. ANZ OHO. T \ )85 ° /p00>w o 05 ti o o e$J 919 .0 F SEE 4 1600 M O ~o ,o° 1201 ° Nsv° S l►~ \ 2 e Al a°A •24Ac. r s tea'' 26Ac III1IId' \ \ ,y ° 6yo O ~j =6 'I i~ / 630 p 1300 /Q~D3 O ~o rrrr r \ 64 ~F \ \ / 17 0c aw .tiy ..5 OA c. 10A CO) O~ 1200 QQ ~Qy \ O 5A 1.09 zp _ c \ 5~ cpJ Q o ~ ~j/ -74 "'0 2/0 TgAE p a? t~ 0~ _ ~ O \ \ - 3 A CURVE ry C/F/C / ~ O a of e 3700'00 -s? / 3600 - 2 54Ac. aA° x 1901 5 58 Ac. 0 1 \ A \0° to OUR` / V N, F lp i 5400 A-) 10102 ~ ~ ' ` ~O \ cOG r l ~ ' ] /r \ \ ? C \tie 3400/ 4OS - \ ~~i 0 / - el 03 3: MW (0 / h = p1q \35 / 00 0 /0 0\ 3100 `5 0 ti J e Jo 4 , 3 h .02Ac 3900 S~ J 90%/ 4sq-e {3/~, y1o~\ 4.75 /BAc /J +~9 B~? o NW COR .~#t- O ~h; v / ~7\ I k = ?01 1 - y 1 34n36 4100 ~ J ~h1 0 90% .2 ~j \z ~L I .09A4 4300 2600 / ~O © I abti~ J46Ac. bs. 66~ c. 4400: .~D °~y1 ti 9j 6, / \ I\3 1O4c. F ? 42 0 5302 a, tiA.re n o p 45090 2 ~A . 58 Ac. 3°s 'p `,\°S. IlyJ s . \ 4 0 y Ir It J.9 A6p`'Z 9'~ s ^ 1• / < '\`J Q~ 9S° h \ 57> c 0 JO Of' 96° , ]v/!i(\J "•a 14A . ° ao r , fG 4800 ? !ar J,^ A nl i a v_ .19 Ar 1 7 3o y This Map Provided As A Courtesy Of Oregon Title Insurance Company N This sketch is made solely for the purpose of assisting in locating said premises, and the company assumes no liability for variations, if any, in dimensions and locations ascertained by actual survey. AGREEMENT REGARDING PURCHASE AND USE OF FORMER BURLINGTON NORTHERN PROPERTY THIS AGREEMENT is made the day of September, 1995, by and between the City of Tigard, an Oregon municipal corporation (the "City") and the Tigard Area Chamber of Commerce ("TALC"). This Agreement is made with reference to that certain joint offer (the "Offer") made by the City and TACC, dated August 31, 1995, by which the City and TACC offered to purchase certain real property (the "Property") from Burlington Northern Railroad. In order to give full effect to such offer, and in order to describe with certainty the relative duties and responsibilities of the City and TACC with regard to the Offer, and in consideration of the mutual promises contained herein, and other good and valuable consideration receipt of which is acknowledged, THE PARTIES AGREE AS FOLLOWS: 1. TACC agrees to purchase the front approximately 1/3 of the Property which is the subject of the Offer located on the corner of SW Main and Tigard Streets in Tigard, Oregon for the sum of $25,000, as recited in the Offer. In conjunction with delivery of the Offer to Burlington Northern, TACC agrees to pay a purchase price of $25,000, of which $5,000 shall be deposited with Burlington Northern as earnest money in accordance with the terms of the Offer. The balance of TACC's purchase price shall be paid to Burlington Northern at closing. 2. TACC agrees that it will move a building presently located on the Property, subject to Burlington Northern Lease OE 1238 and currently used as a feed store (the "Building"), onto that portion of the Property to be purchased by TACC. This move shall take place within 180 days of the closing of the purchase of the Property. After completion of the move, renovation of the Building, and the granting of a Certificate of Occupancy for the Building will be the responsibility of TACC, at its sole cost and expense. Such renovation and the grant of a Certificate of Occupancy for the Building may take place after completion of the move. The Building does not constitute part of the Property, but is owned by the current tenant of the land lease described in this Section 2. 3. In the event TACC does not perform its obligation to move said building in a timely manner, the City shall have the right to purchase the portion of the Property purchased by TACC for the sum of $25,000. 4. In the event the City of Tigard shall exercise its right to purchase the portion of the Property from TACC, the City may retain ownership of the entire Property, or dispose of one or both portions thereof, as the City in its sole discretion shall determine. 5. If, and only if, both portions of the Property are sold by the City after exercise 1 - AGREEMENT REGARDING PURCHASE AND USE OF FORMER BURLINGTON NORTHERN PROPERTY of its right described above, the proceeds of the sale of the Property will be distributed first to the City of Tigard in full reimbursement of its land purchase price and improvements and to TACC for reimbursement of actual interest paid by TACC in relation to obtaining funds for the transaction described herein and represented to be at the rate of 12% per year; the next $5,000 of the proceeds shall be paid to Downtown Merchants Association in compensation for the contributions of said association; and the remainder thereof shall be distributed to TALC, up to the amount paid by TACC for the original purchase of the land plus the actual cost of improvements made on the Property by TACC. After the distributions described above, the remainder of any proceeds from the sale of both portions of the Property shall be divided equally between the City and TACC. In the event the Property shall be sold at a loss, the City and TACC shall bear such loss in proportion to the amount paid by each toward the purchase price and cost of moving the Building. 6. In the event the City exercises its right to purchase a portion of the Property from TACC, TACC agrees that it shall, at TACC's own expense, remove the above-described Building from the Property if the City shall so direct. However, the City and TACC agree that, in the event the City shall exercise its right to purchase said portion of the Property, both the City and TACC shall grant to the Tigard Area Historic Preservation Association ("TAHPA") the right to purchase the subject Building for the sum of One and No/100 Dollars ($1.00) or the full amount paid by TAHPA to TACC to purchase and/or remove the Building, whichever sum is greater. As a condition of such purchase, TAHPA shall be obligated to move the Building to another site not located on the Property at its sole cost and expense and TACC shall be fully relieved of such obligation. 7. This Agreement is intended by the parties hereto to assist in giving full effect to the Offer and to comply with all conditions placed on acceptance of the Offer by Burlington Northern Railroad. 8. Time is of the essence of each provision of this Agreement. 9. TAHPA is expressly made a third-party beneficiary of this Agreement, but solely to the extent that TAHPA shall have a right to purchase the Building from TACC pursuant to Number 6 above, and move it to another site, with such right to purchase and being at the price described in this Agreement and on terms acceptable to TACC and the City, and with such purchase and move to be completed within 180 days of the City's acquisition of the portion of the Property previously owned by TACC. 10. This Agreement and the Offer constitute the complete agreement between the parties with regard to the acquisition of the Property, movement of the Building and the respective rights of the parties with regard thereto. This Agreement may only be modified or 2 - AGREEMENT REGARDING PURCHASE AND USE OF FORMER BURLINGTON NORTHERN PROPERTY amended only by subsequent written agreement, executed by authorized representatives of both parties hereto. IN WITNESS WHEREOF, the parties have executed this Agreement on the day and date first above written. City of Tigard Tigard Area Chamber of Commerce 6~L By. By: ' J c: \orcc\domAigard\chamber. ag4 3 - AGREEMENT REGARDING PURCHASE AND USE OF FORMER BURLINGTON NORTHERN PROPERTY