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243 • TIGARD BRANCH THE UNITED STATES NATIONAL BANK OF PORTLAND,OREGON P. O. BOX 6305 TIGARD 23, OREGON August 23, 1963 Mr. Fred A. Anderson P.O. Box 6406 Tigard, 23, Oregon Dear Fred: Enclosed herewith is a Tigard Development Corp. check in the amount of $11.23 representing over- payment of the City Hall purchase together with itemized accounting. We also enclose Title & Trust Policy No.L3$ -767 insuring the City of Tigard for $16,000.00. - Yours very truly, Manager CT /mh 9. " 'tea h 10 T �� k �I r"t �,�„ . fp ' ,7' if ' , i� CO MPANY �x ra ,, 1 r , ..— 321 S.W. FOURTH AVENUE ' t'^ : ' Phone: CApitol 8-1181 PORTLAND 4, OREGON TITLE AND TRUST BUILDING Premium $ 90.00 Policy of Title Insurance TITLE AND TRUST COMPANY, a corporation, (incorporated under the laws of the State of Oregon), hereinafter called the Company, for a valuable consideration paid for this policy of title insurance, the number, date, and amount of which are shown in Schedule A, does hereby insure the parties named as Insured in Schedule A, the heirs, devisees, personal representatives of such Insured, or if a corporation, its successors by dissolution, merger or consolidation, against direct loss or damage not exceeding the amount stated in Schedule A, together with costs, attorneys' fees and expenses which the Company may be obligated to pay as provided in the Conditions and Stipulations hereof, which the Insured shall sustain by reason of: 1. Title to the land described in Schedule A being vested, at the date hereof, other- wise than as herein stated; or 2. Unmarketability, at the date hereof, of the title to said land of any vestee named herein, unless such unmarketability exists because of defects, liens, encumbrances, or other matters shown or referred to in Schedule B; or 3. Any defect in, or lien or encumbrance on, said title existing at the date hereof, not shown or referred to in Schedule B, or excluded from coverage in the Conditions and Stipulations; or 4. Any defect in the execution of any mortgage or deed of trust shown in Schedule B securing an indebtedness, the owner of which is insured by this policy but only insofar as such defect affects the lien or charge of such mortgage or deed of trust upon said land; or 5. Priority, at the date hereof, over any such mortgage or deed of trust, of any lien or encumbrance upon said land, except as shown in Schedule B such mortgage or deed of trust being shown in the order of its priority. all subject, however, to SCHEDULES A and B, and the CONDITIONS and STIPULATIONS herein, all of which are hereby made a part of this policy. In witness whereof, TITLE AND TRUST COMPANY has caused its corporate name and seal to be here= unto affixed by its duly authorized officers. - ' TITLE AND TRUST COMPANY P A 41144/ 4 / #17)" a 1 ' . .. �� �,� '" 7/ President Attest: -Seererary: F 204 R 8-60 • Assistant Secretary. • OREGON LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY • SCHEDULE A Amount $ 16, 000.00 Date August 12, 1963 At 8:00A. M. INSURED -- -CITY OF TIGARD - -- The fee simple title to said land is, at the date hereof, vested in City of Tigard. The land referred to in this policy is described as PARCEL I The following described property situated in the County of Washington and State of Oregon: A part of Section 2, Township 2 South, Range 1 West, W.M., more particularly described as follows: Beginning at the Northwest corner of a certain tract of land situated in the Geo. Richardson D. L. C. No. 38 in Township 2 South, Range 1 West, W. M., formerly owned.by Pierre Morin, deed for which is recorded at page 136, Book 34, Deed Records, being�a point in the center of Taylor's Ferry Road; thence South 48° 15' West, following the center line of Taylor's Ferry Road, a distance of 48 feet to the true point of beginning; thence South 45 34' East 121 feet; thence South 48° 15' West 46.1 feet; thence North 45 34' West a distance of 120 feet, more or less, to the center of Taylor's Ferry Road; thence Northeasterly, along the center of said road, a distance of 46.2 feet, more or less, to the place of beginning, subject to the rights of the public in and to roads and highways. PARCEL II The following described property situated in the County of Washington and State of Oregon: A part of Section 2, in Township 2 South, Range 1 West of the W.M., more particularly described as follows: Beginning at the Northwest corner of a certain tract of land situated in the Geo. Richardson D. L. C. No. 38 in Township 2 South, Range 1 West of the W.M., formerly owned by Pierre Morrin, deed for which is recorded at page 136, of Book 34, Deed Records of said County and State, being a point in the center of Taylor's Ferry Road; thence South 48° 15' West, following the center line of Taylor's Ferry Road, a distance of 48 feet; thence South 45 34' East, a distance of 31 feet to the true point of beginning; thence South 45 34' East a distance of 48.5 feet; thence North 48° 15' East a distance of 1.5 feet; thence North 45 34' West a distance of 48.5 feet; thence South 48° 15' West a distance of 1.5 feet to the true point of PAGE 2 OF POLICY NO L38 -767 beginning; subject to the rights of the public in roads and highways. er Oregon Land Title Association Standard Coverage Policy - R 8 -60 SCHEDULE B This policy does not insure against loss by reason of the matters shown or referred to in this Schedule except to the extent that the owner of any mortgage or deed of trust is expressly insured in Paragraphs numbered 4 and 5 on page 1 of this policy. 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; pending pro- ceedings for vacating, opening or changing of streets or highways preceding entry of the ordinance or order therefor. 2. Any facts, rights, interests, 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 which are not shown by the public records; unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments or any other facts which a correct survey would disclose. 5. Rights of the public in and to any portion thereof lying within the boundaries of roads and highways. • 6. Grant of a perpetual right of way and easement for placing one pole, anchor and anchor guy on said premises from First Bank of Tigard to West Coast Telephone Company, recorded. December 17, 1943, Book 225, page 267, Deed Records. Subject to the terms and con- ditions thereof. (Affects Parcels I and II) • F.ZO, Page 3of Policy No. L38 -767 • The sketch below 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 location ascertained by actual survey. • • %I/e -- rust ✓ y ✓ a Q ..... ....• /moo .. W : V 4 • _ V 0 N a rc 6e!` 50.S I ` 5 1 • o 1 OREGON EIECI •� I .I 431 ' - a • 4e 130 ; - QI '51.. we.•e 11 I• !! ; s gF...0. • • a., e .� P w�i is _ , • L • V /.__ 0 21 —.2_70 e6 55 11 e • 1 . _ , aeo Ky . ` ' C 0 a° .. .1 O 140'n /K 5711. Sl pl. li' • tea,• } y 4 •• '� O w Q` / . 41 C or 57.or 0UNT1! . ROAD NO. 1319 - 5 vz cc ♦0 St 5 45 <L . 9)3," lot» I00 • • • A 1 • L 3 8 — - 7 6 7 I r - - • Sand rd Co Coverage Association Form CONDITIONS AND STIPULATIONS F -208 R -4 -63 ( Includes those in the American Land Title Association - Owner's Policy- Standard Form B -1962 ) 1. DEFINITION OF TERMS title to said estate or interest is rejected as unmarketable, edness secured by such mortgage, except as provided in the Insured shall notify the Company thereof in writing. paragraph 2 hereof. The following terms when used in this policy mean: If such notice shall not be given to the Company within ten ( e) When liability has been definitely fixed in accord- ( a) "land ": the land described, specifically or by refer- days of the receipt of process or pleadings or if the Insured ance with the conditions of this policy the loss or damage ence, in Schedule A and improvements affixed thereto which shall not, in writing, promptly notify the Company of any shall be payable within thirty days thereafter. by law constitute real property; defect, lien or encumbrance insured against which shall come (b) "public records ": those records which impart con- to the knowledge of the Insured, or if the Insured shall not, 8. LIABILITY NONCUMULATIVE structive notice of matters relating to said land; in writing, promptly notify the Company of any such rejec- (c) "knowledge ": actual knowledge, not constructive tion by reason of claimed unmarketability of title, then all It is expressly understood that the amount of this policy knowledge or notice which may be imputed to the Insured liability of the Company in regard to the subject matter of is reduced by any amount the Company may pay under any by reason of any public records; such action, proceeding or matter shall cease and terminate; policy insuring the validity or priority of any mortgage (d) "date ": the effective date; provided, however, that failure to notify shall in no case shown or referred to in Schedule B hereof or any mortgage ( e) "mortgage ": mortgage, deed of trust, trust deed, or prejudice the claim of any Insured unless the Company hereafter executed by the Insured which is a charge or lien other security instrument; and shall be actually prejudiced by such failure and then only on the estate or interest described or referred to in Schedule ( f) "insured ": the party or parties named as Insured, to the extent of such prejudice. A, and the amount so paid shall be deemed a payment to the and if the owner of the indebtedness secured by a mortgage (c) The Company shall have the right at its own cost to Insured under this policy. The provisions of this paragraph shown in Schedule B is named as an Insured in Schedule A, institute and prosecute any action or proceeding or do any numbered 8 shall not apply to an Insured owner of an the Insured shall include ( 1) each successor in interest in other act which in its opinion may be necessary or desirable indeb:edness secured by a mortgage shown in Schedule B ownership of such indebtedness, ( 2 ) any such owner who to establish the title of the estate or interest or the lien of unless such Insured acquires title to said estate or interest in acquires the estate or interest referred to in this policy by the mortgage as insured; and the Company may take any satisfaction of said indebtedness or any part thereof. foreclosure, trustee's sale, or other legal manner in satisfac- appropriate action 'under the terms of this policy whether tion of said indebtedness, and ( 3 ) any federal agency or or not it shall be liable thereunder and shall not thereby 9. COINSURANCE AND APPORTIONMENT instrumentality which is an insurer or guarantor under an concede liability or waive any provision of this policy. ( a) In the event that a partial loss occurs after the Insured insurance contract or guaranty insuring or guaranteeing said (d) In all cases where this policy permits or requires makes an improvement subsequent to the date of this policy. indebtedness, or any part thereof, whether named as an the Company to prosecute or provide for the defense of and only in that event, the Insured becomes a coinsurer to Insured herein or not, subject otherwise to the provisions any action or proceeding, the Insured shall secure to it the the extent hereinafter set forth. hereof. right to so prosecute or provide defense in such action or If the cost of the improvement exceeds twenty per centum proceeding, and all appeals therein, and permit it to use, • of the amount of this 2. BENEFITS AFTER ACQUISITION OF TITLE at its option, the name of the Insured for such purpose. policy, shall be borne proportion only of any Whenever requested by the Company the Insured shall give Partial loss established borne by the Company pany as If an insured owner of the indebtedness secured by a one hundred twenty per centum of the amount of this policy the Company all reasonable aid in any such action or pro- mortgage described in Schedule B acquires said estate or bears to the sum of the amount of this policy and the amount interest, or any part thereof, by foreclosure, trustee's sale, seeding, in effecting settlement, securing evidence, obtaining expended for the improvement. The foregoing provisions or other legal manner in satisfaction of said indebtedness, witnesses, or proscuting or defending such action or proceed- shall not apply to costs and attorneys' fees incurred by the or any part thereof, or if a federal agency or instrumentality ng, and the Company shall reimburse the Insured for any Company in prosecuting or providing for the defense of expense so incurred. acquires said estate or interest, or any part thereof, as a actions or proceedings in behalf of the Insured pursuant to consequence of an insurance contract or guaranty insuring the terms of this policy or to costs imposed on the Insured or guaranteeing the indebtedness secured by a mortgage 5. NOTICE OF LOSS — LIMITATION OF ACTION in such actions or proceedings, and shall apply only to that covered by this policy, or any part thereof, this policy shall In addition to the notices required under paragraph portion of losses which exceed in the aggregate ten per cent continue in force in favor of such Insured, agency or instru- 4 (b) , a statement in writing of any loss or damage for. of the face of the policy. mentality, subject to all of the conditions and stipulations which it is claimed the Company is liable under this policy Provided, however, that the foregoing coinsurance provi- hereof. shall be furnished to the Company within sixty days after sions shall not apply to any loss arising our of a lien or such loss or damage shall have been determined and no encumbrance for a liquidated amount which existed on the 3. EXCLUSIONS FROM THE COVERAGE OF right of action shall accrue to the Insured under this policy date of this policy and was not shown in Schedule B; and THIS POLICY until thirty days after such statement shall have been fur- provided further, such coinsurance provisions shall not apply This policy does not not insure against loss or damage by nished, and no recovery shall be had by the Insured under to any loss if, at the time of the occurrence of such loss, the this policy unless action shall be commenced thereon within then value of the premises, as so improved, does not exceed' reason of the following: Any law, or governmental regulation five years after expiration of said thirty day period. Failure one hundred twenty per centum of the amount of this policy. (a) nny w, ordinance n b building to furnish such statement of loss or damage, or to com- (b) If the land described or referred to in Schedule A ( includ but not limited to buil it ing and mence such action within the time hereinbefore specified, is divisible into separate and noncontiguous parcels, or if dances) restricting b or regulating of the land, prohibiting regulating the tilno zoning occu- n regeg shall be a conclusive bar against maintenance by the Insured contiguous and such parcels are not used as one single site, panty, use or enjoyment or panty, of any improvement now of any action under this policy. and a loss is established affecting one or more of said parcels character, dimensions, or location bur not all, the loss shall h and settled or hereafter erected on said land, or prohibiting a separation amount ud in ownership or a reduction in the dimensions or area of 6. OPTION TO PAY, SETTLE OR COMPROMISE rata basis as if the s face on the t o of f the policy was divided' was of a ded f e pro rata as to the value on the date of this policy of each any lot or parcel of land. CLAIMS separate independent parcel to the whole, exclusive of any (b1 Governmental rights of police power or eminent The Company shall have the option to pay or settle or improvements made subsequent to the date of this policy, domain unless notice of the exercise of such rights appears compromise for or in the name of the Insured any claim unless a liability or value has otherwise been agreed upon in the public records at the date hereof. insured against or to pay the full amount of this policy, or, as to each such parcel by the Company and the Insured at (c) Title to any property beyond the lines of the land in case loss is claimed under this policy by the owner of the time of the issuance of this policy and shown by an expressly described in Schedule A or title to streets, roads, the indebtedness secured by a mortgage covered by this express statement herein or by an endorsement attached avenues, lanes, ways or waterways on which such land abuts, policy, the Company shall have the option to purchase said hereto. or the right to maintain therein vaults, tunnels, ramps or indebtedness; such purchase, payment or tender of payment any other structure or improvement; or any rights or ease- of the full amount of this policy, together with all costs, 10. SUBROGATION UPON PAYMENT OR menu therein unless this policy specifically provides that attorneys' fees and expenses which the Company is obligated SETTLEMENT such property, rights or easements are insured, except that hereunder to pay, shall terminate all liability of the Company Whenever the Company shall have settled a claim under if the land abuts upon one or more physically open streets P an y or highways this policy insures the ordinary rights of abut- hereunder. In the event, after notice of claim has been given this policy, all right of subrogation shall vest in the Com - ting owners for access to one of such streets or highways, to the Company by the Insured, the Company offers to put- pany unaffected by any act of the Insured, and it shall be unless otherwise excepted or excluded herein. chase said indebtedness, the owner of such indebtedness subrogated to and be entitled to all rights and remedies (d) Defects, liens, encumbrances, adverse claims against shall transfer and assign said indebtedness and the mortgage which the Insured would have had against any person or the title as insured or other matters (1) created, suffered, securing the same to [he Company upon payment of the property in respect to such claim had this policy not been purchase price. assumed or agreed to by the Insured claiming loss or dam- issued. If the payment ment does not cover the loss of the Insured, age; or (2) known to the Insured Claimant either at the the Company shall be subrogated to such rights and reme- date of this policy or at the date such Insured Claimant 7. PAYMENT OF LOSS dies in the proportion which said payment bears to the acquired an estate or interest insured by this policy and not (a) The liability of the Company under this policy shall amount of said loss. If loss should result from any act of shown by the public records, unless disclosure thereof in in no case exceed, in all, the actual loss of the Insured and the Insured, such act shall not void this policy, but the writing by the Insured shall have been made to the Company costs and attorneys' fees which the Company may be obli- Company, in that event, shall be required to pay only that prior to the date of this policy; or (3) resulting in no loss gated hereunder to pay. part of any losses insured against hereunder which shall to the Insured Claimant; or (4) attaching or created subse- (b) The Company will pay, in addition to any loss exceed the amount, if any, lost to the Company by reason quent to the date hereof. insured against by this policy, all costs imposed upon the of the impairment of the right of subrogation. The Insured, (e) Loss or damage which would not have been sus- Insured in litigation carried on by the Company for the if requested by the Company, shall transfer to the Company tained if the Insured were a purchaser or encumbrancer for Insured, and all costs and attorneys' fees in litigation car - all rights and remedies against any person or property nec- value without knowledge. ried on by the Insured with the written authorization of essary in order to perfect such right of subrogation, and the Company. shall permit the Company to use the name of the Insured' 4. DEFENSE AND PROSECUTION OF ACTIONS — (c) No claim for damages shall arise or be maintainable in any transaction or litigation involving such rights or NOTICE OF CLAIM TO BE GIVEN BY THE INSURED under this policy (1) if the Company, after having received remedies. . notice of an alleged defect, lien or encumbrance not excepted If the Insured is the owner of the indebtedness secured (a) The Company, at its own cost and without undue or excluded herein removes such defect, lien or encumbrance by a mortgage covered by this policy, such Insured may delay shall provide (1) for the defense of the Insured in within a reasonable time after receipt of such notice, or (2) release or substitute the personal liability of any debtor or all litigation consisting of actions,or proceedings commenced for liability voluntarily assumed by the Insured in settling guarantor, or extend or otherwise modify the terms of against the Insured, or defenses, restraining orders, or injunc- any claim or suit without written consent of the Company, payment, or release a portion of the estate or interest from tions interposed against a foreclosure or sale of the mortgage or (3) in the event the title is rejected as unmarketable the lien of the mortgage, or release any collateral security and indebtedness covered by this policy or a sale of the because of a defect, lien or encumbrance not excepted or for the indebtedness, provided such act does not result in any estate or interest in said land; or (2) for such action as excluded in this policy, until there has been a final deter- loss of priority of the lien of the mortgage. may be appropriate to establish the title of the estate or mination by a court of competent jurisdiction sustaining such interest or the lien of the mortgage as insured, which litiga- rejection. 11. POLICY ENTIRE CONTRACT tion or action in any of such events is founded upon an (d) All payments under this policy, except payments action or actions or rights of action that the Insured alleged defect, lien or encumbrance insured against by this made for costs, attorneys' fees and expenses, shall reduce may Any y have io may bring against rights the Company arising eg out of policy, and may pursue any litigation to final determination the amount of the insurance pro tanto and no payment shall in the court of last resort. be made without producing this policy for endorsement of the status of the lien of the mortgage covered by this policy (b) In case any such action or proceeding shall be such payment unless the policy be lost or destroyed, in or the title of the estate or interest insured herein must be begun, or defense interposed, or in case knowledge shall which case proof of such loss or destruction shall be fur- based on the provisions of this policy. come to the Insured of any claim of title or interest which dished to the satisfaction of the Company; provided, how- No provision or condition of this policy can be waived is adverse to the title of the estate or interest or lien of the ever, if the owner of an indebtedness secured by a mortgage or changed except by writing endorsed hereon or attached mortgage as insured, or which might cause loss or damage shown in Schedule B is an Insured herein then such pay- hereto signed by the President, a Vice President, the Secre- for which the Company shall or may be liable by virtue meats shall not reduce pro tanto the amount of the insur- nary. an Assistant Secretary or other validating officer of of this policy, or if the Insured shall in good faith contract ance afforded hereunder as to such Insured, except to the the Company. to sell the indebtedness secured by a mortgage covered by extent that such payments reduce the amount of the indebt- 12. NOTICES, WHERE SENT this policy, or, if an Insured in good faith leases or con- edness secured by such mortgage. Payment in full by any tracts to sell, lease or mortgage the same, or if the successful person or voluntary satisfaction or release by the Insured All notices required to be given the Company and any bidder at a foreclosure sale under a mortgage covered by of a mortgage covered by this policy shall terminate all statement in writing required to be furnished the Company this policy refuses to purchase and in any such event the liability of the Company to the insured owner of the indebt- shall be addressed to it at the office which issued this policy. - vi✓ OFFICES ..®IU©IUeIU 63111 ®d! ©dl ®11Q11111111 'r rt ` - - - - - sir _&ANILIh®llt®i1!OJsWdiClitel1 9mV - - w>a '. ; ©.I!® bell a .I:® Ii ®I Oil III n - • "�' BRANCH OFFICES . J e - ' ; t ir 3 ' j J , tEQf BE TON COUNTY [. - ma c; ��� � ' ' - TI AN D TR COMPANY ' , Corvallis f _ i y CLACKAMAS COUNTY TITLE AND TRUST COMPANY ® ® ® ® Oregon City it o = T ® 0 CLATSOP COUNTY ii/ 1-5 GO TITLE AND TRUST COMPANY ' - _ - = Astoria e ® ® ® COLUMBIA COUNTY � ® © ® I u C� l9 © TITLE AND TRUST COMPANY r ® ® e ® St. Helens it _ ® ® � D O�L1lU © ® HOOD RIVER COUNTY 1 �� _ _ TITLE AN D TRUST COMPANY 5 ® ® _ ® ® Hood River LINCOLN COUNTY III i i D ® o TITLE AND TRUST COMPANY ti = Newport ® ® a LINN COUNTY _® TITLE AND TRUST COMPANY ® ® ® © Albany it TILLAMOOK COUNTY o ® ® 0 TITLE AND TRUST COMPANY _ k = _ - / • �, - e v Tillamook o ; ii f " � e - ® WASHINGTON COUNTY l i li e e - TITLE AND TRUST COMPANY - ® I 1 C ; © ® Hillsboro and Beaverton e ® ® ® 1 3 '� {Y } YAMHILL COUNTY -I ® _ fi g £ , c ® ® TITLE AND TRUST COMPANY Ili ® ® it 6 ? -. ® © McMinnvill ® ® ® ; , ` r I ! C R � y r © ® ASSOCIATE OFFICES ® "The Symbol of Service" ® ® _ - "' 1 • ® ® BAKER COUNTY ® e ® t � � - � y . - - ; ® ® BAKER ABSTRACT &TITLE CO. 3,� rr, t x. " _ _ ® ® Baker v ® ® DESCHUTES COUNTY I ® e ® 7 : 5 'al ® ® BEND ABSTRACT COMPANY pp i ® ®a a.,._r_ w Bend ri it © TITLE AND TRUST BUILDING = DOUGLAS COUNTY TITLE COMPANY = Roseburg ® ® ® o GRANT COUNT LAND TITLE COMPANY OF GRANT COUNTY ® ® 0 0 ® Canyon City ITO 0 ® ® ® JACKSON COUNTY ® JACKSON COUNTY TITLE COMPANY =, it ® e- i . e ® Medford _ it © ® LANE COUNTY IP t ® © COMPANY it © LANE COUNTY TITLE COMPANY ® ® ® ® ® Eugene - - MARION COUNTY ® ® ®_ ® SALEM TITLE COMPANY F o _ ® ® ® Salem 0 321 S. W. FOURTH AVENUE ® © SALEM POLK TITLE O COMPANY li •® e 0 Phone: 229 -1181 e- 0 Dallas li PORTLAND 4, OREGON ® et UMATILLA COUNTY o it PIONEER TITLE INSURANCE CO. _- 1 = Pendleton - UNION COUNTY �' - .� T HE ABSTRACT & TITLE COMPANY x ( La Grande <W � �* a. ,� � ', WASCO COUNTY ` J " WASCO TITLE OREG. LTD. r '..T4', , ' , c q go) '€ The Dalles ) ' It,.1 110i1i0.1.2.1r®iU9.09.1I3,10,10 . ...rs;iim lt®111t�'il!©iiimimimipaiiiB 't 1 ®IGm11 1 Lfts, -. 97223 August 8, 1963 . Title and Trust Company P. 0. Box 38 Beaverton, Oregon Re: Your Order No. L38-767 Gentlemen: Herewith find , deed fr�m The United States National Bank to the City of Tigard, together; with checks totaling $111.10 to ,cover the following: title premium $ 90.00 revenue stamps • 170 • . recording 3 If by recording the within deed, title to the . described premises will be vested in the City of Tigard, •a municipal corporation of the State of Oregon, :free and clear of all encumbrances other than the usual printed exceptions, and exceptions numbers "1 and 3 of your above - referenced report, please proceed to place $17.00 value of stamps on the deed, record the same, issue your owner ° s policy, and together with a receipt, to the undersigned. '. Very truly yours, Fred. A. Anderson • FAA:dw Enc. • - , • CLOS/NO sT'.' • Tin sTATes NATIONAL 13A TO Crri OF ` se prigs: .. Tau g 16, # n - o rat -gi x.962 6 � 57.57 . - Fire inpurance transferred • 36.29 cr.Gditat • r 'I• I •• • t'• psis . "..' . • Taxes 196 ;4 430 Cash • ,..• a .o •. .11,1,314/ 5 2 eked .ed • ' , 16,600.0.0 •h • • • • • • • • • • • • • • ' a .. �iY4t4 avap»C✓t ' ■ 4` i 2 4 3 "c BARGAIN AND SALE DEED THE UNITED STATES NATIONAL BANK OF PORTLAND, a national banking association, grantor, bargains, sells and conveys to the CITY OF TIGARD., grantee, the following described real property and appurtenances thereto: »fflIMIENTAfY PARCEL I c- The following described property situated in -�� the County of Washington and State of Oregon: +,,c0 , ` - A part of Section 2, Township 2 South, Range 1 j , West, W.M., more particularly described as -.1. ,- IIi��r follows: beginning at the Northwest corner _ 8�a of a certain tract of land situated in the Geo. r ___ Richardson D.L.C. No. 38 in Township 2 South, voo� ma$t Range 1 West, W.M., formerly owned by Pierre Morin, deed for which is recorded at page 136, " `�� � Book 34, Deed Records, being a point in the center TAW � of Taylor's Ferry Road; thence South 48° 15' West, +` r �� following the center line of Taylor's Ferry Road, � h �� ' - ° point of .a, s3 �� a distance of 48 feet to the true beginning; thence South 45 34' East 121 feet; � ni aIt ne s thence South 48° 15' West 46.1 feet; thence 111> X 10 ; North 45 34' West a distance of 120 feet, more or less, to the center of Taylor's Ferry , ca \ Road; thence Northeasterly, along the center of said road, a distance of 46.2 feet, more , le, 1 ,i or less, to the place of beginning, subject to t � � the rights of the public in and to roads and 4 highways. Ri7 ®S.ATES - . KO F PARCEL II alDO 5l; The following described property situated in r. the County of Washington and State of Oregon: g OCIIMENTARY : 71 Apart of Section 2, in Township 2 South, Range i it'. 1 West of the W.M., more particularly described ''' as follows: Beginning at the Northwest corner :i0 ::NITS lOy of a certain tract of land situated in the Geo. ,.,,,, -., �� ,, D. Richardson D.L.C. No . 38 in Township 2 South, DDCUN01, - Range .1 . West of the W.M. ; formerly owned by lr Pi Pierre Morrin, deed for which is recorded at f page 136 of Book 34, Deed Records of said County a� { -,, � ; � GENTS 5 - and State, being a point in the center of Taylor's kiigf O � Ferry Road; thence South 48° 15' West, following �, - ` the center line of Taylor's Ferry Road, a distance of 48 feet; thence South 45 34' East, a distance of 31 feet to the true point of beginning; thence South 45 34' East a distance of 48.5 feet; thence North 48° 15' East a distance of 1 BOOK 4 PAGE 129 • Y r • 243 • • 1.5 feet; thence North 4 +5 ° 34' West .a distance of 48.5 feet; thence South 48° 15' West a dis- tance of 1.5 feet to the - true point of beginning subject to the rights of the public. in roads and highways. Subject to: • Grant of a perpetual right of way and easement for placing one pole, anchor and anchor guy on said premises from First Bank of Tigard to . West Coast Telephone Company, recorded Decem- ber 17, 19.3, Book 225, page 267, Deed Records. Subject to the terms and conditions thereof. DATED July 25 , 1963. • THE UNITED STATES NATIONAL s ~^ f BANK OF PORTLAND �o Y gym sl F B • .: y Y ° G PRESip�iVl' Atvo CRUS .OFFILR: • By liL ,• • • • • • • • • • • • • - f: 2 • BOOK 493 FASE I3O • • 243 STATE OF OREGON ) s County of Multnomah ) THIS CERTIFIES that on this 25th day of July 19 63 , before me, the undersigned, a notary public in and for said county and state, personally appeared . C. I. Meyers and A. E. Bontty , both to me personally . known, who, being duly sworn, did say that he, the said C. I Meyers Officer . is a Vice president and Trust / , and he, the said A. E. Bontty is an Assistant Cashier of The United States National Bank of Portland, the within named corporation, and that the seal affixed to said instrument is the corporate seal of said corporation, and that the said instrument was signed and sealed in behalf of said .corporation by authority of its board of directors, and said C. I. Meyers and A. E. Bontty acknowledged said instrument to be the free act and deed of said. corporation. IN TESTIMONY WHEREOF, I have hereunto set my hand and notarial seal the day and year last above written. (NOTARIAL SEAL). Notary Public for Oregon • ;? ,a ;::,•' My: commission expires 7 -', • ,^1v, . •.t.`. ?y c �' o ". 0.3 Filed 'for maid .T' /VAL ROGER THOMSSEN, Co my Clerk By . Dept BOOK 493 PAGE 13I • • r1). , ‘ ‘ . & : i.9 t141ts E OF OREGON, ss . • / County of Washingt n- • 'VA. ,":4, • .: • Rogei.ThoniSSen,GiruntyiCler RecorderA"eoit;eyance';ifor, saidcbunlY, do hef:eby certify thilttilej was rec• 3.1 book vzei in the *ReC64I'S' of - • V? of said,'Cont•i::, Witness rnyighandi affixed. 4i ROGER THOMSSEN, County Clerk • • Deputy Auc 9 3 24-M °j Argus 995-A t_ FREDERfCK K ATTORNEY AT LAW 105 TIGARD OFFICE BLDG. TIGARD,' OREGOA MT. 9•1121 P. 0, BOX 64Q6 L _ _ . . The sketch below 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 location ascertained by actual survey. Ni ne Iroas�' ,.. .:1 , . 14 ( l W � N ' a o �� u � 0 a .1 0 u 1 7. F 2 • 0 se •• so. so ao �co.l So °� Saw , V . 1 I C 1 7 , 3 1 OREGON ELE( \l 411 ' .1_____ . gi ol Z s 45 H 190 X - •� me { 160 S I P,D ;« er.v ., 6 w'; � w , `tea/ .q i `6 is �' i. . f i -.! C (.e , \i- n S h aec _. _ ss w j . r • c r W i •- c 0 1 , a Mil 2 K H ' _ — _ _ • ail lv/ "5 _ii•1�_•_• 511. 57 w 0 .. , - - ; A ° A .4 0::1 il . }fi : c` g 8 a • a� I - 1 OUNTX . .ROAD NO. I319 sly. c c Mil 01 o _ S as. 44 4 993." - .+.r•45 O me . • • , • _ - . 4- L 3- 7 4 7 . S • ;,, the City of Tigard as been granted: 'optic • to purchase t forme it'ed . CtiteS National nk : ro o p o - • . . Street' noyeacupied .b'^ t` a City of Tigard ea a' 'City X11 t4e pri . b , f' $16).000.00 e : a c .s Pursnanti to the . terms - o said opt , : dated May • _ 1%3 t. and d'iltt voters of... .City Of Turd have : S app ve a : special levy_ for the:: purchase: . Of. , said , :property, of per. the Sgard: : • • •DelielepSent Corporation, and the purohase may, therefore, , apev1y .. X • -. preed :. • - SOLVED; . That -: ct n iE the :city , • Tigard Oregano) does hereby e a se - the said option,. accor . . - to . its t s and .the City . Atta y be and he 40 hereby, : ducted : • ' • to give.. a And • legal tiCe :'' to the Tigard '_De 10 nt • .6o 'at on of the a le eti on ;cif the City of. Tigard to accept the . option; d , the y and the City. Attorney be) and they are .hereby, a uthor rr • teed. and:di ct to take u h btu t ..steps es necessary to c ansimate the purchase .' said property and the transfer :of , title • to the • of ' Lgard ; . .. =SOLD: That_ the ."ability.. .• • ' tax revenues froth the said special lei i.t :to 'p vide - for the haee. prie+ . . said property, tae etre of • is hereby irothoried to be transferred fry account, sate to be repaid to said, account fry the . - to revenues as the same bocce' available. - • PASSED by uninithaus .Norte of 'I•all.iietr.ero of the City Corned • • present -.at the regular meeting of.-the Conch . on '. iy ,S$ 1963.. • . '‘' • - C{4}! � }, 0,- gar 1, Resolution ® Acceptance of Option . Editor Tigard Time- Tigard, Oregon; To the Editor: ' The City Council is referring to the waters at the 'election of July 1 . = special tax lei, to raise $10,478.50 which, together with funds on hand, would enable the pur� chase of the presently rented City Hall property on M®in Street„ fora total price of $16,000.00. ' The city, as a tenant under a lease-purchase agree- ment, is conLtted t© pay $150.00 - month, or $1806.00 per ' year, beginning July 1, 1963, and unless the purchase option to exercised this would continue fora period of four years. If the option to purchase . be exercised at any time,' the city would• be entitled to credit'against the purchase price for all rental payments made prior thereto, after deducting therefrom taxes and ` pa3d by the owner, and interest on the $16,000.00 a t the rate of 6 percent. per annum for the period of the prior tenancy. Thus, on a comparative basis, the probable economic advantage to the peepie of Tigard from purchase as opposed to rental for one year is approximately as follows: . One year's rental $1800.00 (based on annual taxes $345.00 interest 960.00 insurance 55.00 . Totals Probable ownership cost: taxes non: interest none insurance 55.00 yearly upkeep approx. 100.00 Total annual ownership costs 155.00 ,Annual saving through ownership $ 1645.00 Thus . it . is clear on the basis of the foregoing figures that over a period of ten years the. savings available through ownership as compared to rental would equal the purchase price. . • There should be no room for contention that the City does not need the use of these fciILttes rtd based upon professional expert appraisals and comparative values, the price of $16,000.00 is without question a bargain. Equally useful new facilities, with site, could esily. cost, $35,000.00 to $45,000:00. . The. proposition, then, of purchase versu s rental appears to speak for itself—how can the people of Tigard achieve a better return on their investment than 10% net, as above indicated. The:measure to raise $10,478'.50 on the ballot for the election of July 1, 1963 on the basis of a $4,000 ' assessed valuation for the city, means approximately a mill increase in the tax levy. or 25 cents per $100.00 of astjeaSed-valuation, or $2.50 per $10ui.00, for one.year only Stated:otherwise, a taxpayer. owning $16,000.00 residence would contribute $10.00 for one year only to enable purchase of the City Hall property The administration recommends a favorable vote on the proposition... . , • • • • •