Matrix Development Corporation ~ 01.01.1901 ~ Road Improvement Agreement - 81St Avenue ROAD IMPROVEMENT
AGREEMENT
THIS AGREEMENT OF PURCHASE AND SALE (the "Agreement") is made and entered into as of May
/0 ;2004 by and between THE CITY OF TIGARD(the"City"),and Matrix Development Corporation,an Oregon
corporation,("Matrix").
RECITALS
A. Matrix is the owner of certain unimproved real property located in Township 2, Section 1 Tax Lot 300 and
2800 ("Property"). The Property comprises approximately 4.34 acres and is located in the City of Tigard
and in the county of Washington,State of Oregon.
B. Matrix has obtained preliminary plat approval for a 19 lot single-family subdivision and is in the process of
obtaining construction approval to begin development of the subdivision. The Conditions of Approval in
the Notice of Decision for SUB2002 — 00010 ("SUB2002-00010") require Matrix to construct road
improvements to SW 8151.
C. Matrix and the City have agreed that Matrix will pay the City a fee in lieu of construction such road
improvements to SW 815`and the City will construct such improvements at a later date.
AGREEMENT
The terms of the Agreement are as follows:
1. Matrix agrees to pay the City of Tigard Nine Thousand Eight Hundred Ninety Four Dollars and Fifty
Cents ($9,894.50) ("Payment") in lieu of construction the required road improvements to SW 81" as
specified in Condition of Approval of SUB2002-00010 for the property("Improvements").
2. Matrix will provide the City with Payment prior to the issuance of engineering permits for the construction
of site subdivision work on the Property. Upon Payment by Matrix to the City any and all obligations or
responsibility Matrix has to construct such improvements required under SUB2002-00010 shall be fulfilled.
IN WITNESS WHEREOF,the parties have executed this Agreement as of the date and year written above.
THE//CITY OF TIGARD M4* De lopment Corporation
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