2018-071428 ~ Lot 5 of plat Burnham Tract Washington County,Oregon 2018-071428
D-IPPS
Stn=11 C WHITE 10/17/2018 03:16:18 PM
$40.00 511.00$5.00$60.00 $116.00
I,Richard Hobernicht,Director of Assessment end Taxation and Ex.
Officio County Clerk for Washington County,Oregon,do hereby
certify that the within instrument of writing was received and
recorded In the book of records of said county.
Richard Hobernicht,Director of
Assessment and Taxation,Ex-Officio
After recording, return to:
Brix Law LLP
75 SE Yamhill St., Suite 202
Portland, OR 97214
Attn: Bradley S. Miller
TERMINATION OF DEVELOPMENT AND DISPOSITION AGREEMENT
This Termination of Development and Disposition Agreement (the"Termination") is
V executed as of this,(.Z'`day of October, 2018 by Town Center Development Agency of the
City of Tigard, Oregon ("TCDA", formerly known as City Center Development Agency
kiN "CCDA") and Premium Property-Tigard LLC, an Oregon limited liability company
("Developer").
N
Recitals:
Qr
A. Reference is made to that certain unrecorded Development and Disposition
jJJ Agreement with an effective date of April 16, 2015 by and between CCDA and DIG Tigard
LLC, an Oregon limited liability company ("Diamond") and Capstone- Green Light LLC, an
bio
Oregon limited liability company ("Capstone"), as amended by that certain First
Amendment to Development and Disposition Agreement dated September 1, 2015 ("DDA
First Amendment") and that certain Second Amendment to Development and Disposition
S- Agreement dated November 10, 2015 ("DDA Second Amendment"), and as assigned by
Diamond and Capstone to Developer by Assignment of Development Agreement and
W Disposition Agreement dated October 27, 2015 (the"DDA").The DDA provides for the sale
1— of the real property (the"Property") legally described on the Exhibit A attached hereto. All
capitalized terms not otherwise defined herein shall have the meanings set forth in the
DDA.
0
B. Pursuant to Section 8.2.4 of the DDA, the parties thereto may terminate the
DDA at any time upon mutual agreement.
C. Developer and TCDA desire to terminate the DDA in the public record.
Agreements:
NOW, THEREFORE:
1. Recitals Incorporaated. The recitals set forth above are hereby incorporated
herein by reference.
2. Termination of DDA. The DDA is hereby terminated and of no further force or
effect.
{00099687;2} 1
3. Waiver. The provisions of Section 3.9 of the DDA"Property Sold As-Is" shall
survive this Termination. This Termination constitutes a full and complete waiver and
release of any and all claims, known or unknown, relating to or arising from Section 3.9 of
the DDA as between the parties and is binding on the successors and assigns of the parties.
4. Recording of Termination. This Termination shall be recorded in the Official
Records of Washington County, Oregon, in order to provide record notice of the matters set
forth herein.
IN WITNESS WHEREOF, this Termination has been executed as of the day and year
first written above.
TCDA: TOWN CENTER DEVELOPMENT AGENCY OF THE
CITY OF TIGARD
By: �''G' 1Ari 1k •
Name: MA-QTY M K&
Title: arf tViAtv44-61Z. CITY FI TT Mier)
DEVELOPER: PREMIUM PROPERTY-TIGARD LLC,
an Oregon limited liability company
By:
Christopher 3. Nelson,
Authorized Operations Co-Manager
By:
Thomas E. Stevenson,
Authorized Financial Co-Manager
Acknowledgements on following page.
{00099687;2} 2
3. Waiver. The provisions of Section 3.9 of the DDA"Property Sold As-Is" shall
survive this Termination. This Termination constitutes a full and complete waiver and
release of any and all claims, known or unknown, relating to or arising from Section 3.9 of
the DDA as between the parties and is binding on the successors and assigns of the parties.
4. Recording of Termination. This Termination shall be recorded in the Official
Records of Washington County, Oregon, in order to provide record notice of the matters set
forth herein.
IN WITNESS WHEREOF, this Termination has been executed as of the day and year
first written above.
TCDA: TOWN CENTER DEVELOPMENT AGENCY OF THE
CITY OF TIGARD
By:
Name:
Title:
DEVELOPER: PREMIUM PROPERTY-TI :.; LC
an Oregon limited 1 ;,;jmom,
By'
Christop er J. on,
Authorized Operations Co-Manager
By:
Thomas E. Stevenson,
Authorized Financial Co-Manager
Acknowledgements on following page.
{00099687;2} 2
3. Waiver. The provisions of Section 3.9 of the DDA"Property Sold As-Is"shall
survive this Termination. This Termination constitutes a full and complete waiver and
release of any and all claims, known or unknown, relating to or arising from Section 3.9 of
the DDA as between the parties and is binding on the successors and assigns of the parties.
4. Recording of Termination. This Termination shall be recorded in the Official
Records of Washington County, Oregon, in order to provide record notice of the matters set
forth herein.
IN WITNESS WHEREOF, this Termination has been executed as of the day and year
first written above.
TCDA: TOWN CENTER DEVELOPMENT AGENCY OF THE
CITY OF TIGARD
By:
Name:
Title:
DEVELOPER: PREMIUM PROPERTY-TIGARD LLC,
an Oregon limited liability company
By:
Christopher J. Nelson,
Authorized Operations Co-Manager
_
By:
Tho as E. Stevenson,
Authorized Financial Co-Manager
Acknowledgements on following page.
{00099687} 2
1
STATE OF OREGON )
) ss.
County of Washington )
This instrument was acknowledged before me on October 1 5 , 2018, by
YYn CA r —h& I. Curr fu , as CL tea-t\4 P r' of the Town Center
Development Agency of the City of Tigard, Oregon. J
^' OFFICIAL STAMP
,►•r;�'•,�'
_ - .-_ KELLY E BURGiOYNE Notary Publi r Oregon
` NOTARY PUBLIC - OREGON
; Expires: 0 01-
�� COMMISSION NO.959®91 My commission Ex
MY COMMISSION EXPIRES FEBRUARY 12,2021
STATE OF OREGON )
) ss.
County of Multnomah )
This instrument was acknowledged before me on October , 2018, by
Christopher J. Nelson, as Authorized Operations Co-Manager of Premium Property-Tigard
LLC, an Oregon limited liability company, on behalf of the company.
Notary Public for Oregon
My commission Expires:
STATE OF TEXAS )
) ss.
County of HARRIS )
This instrument was acknowledged before me this day of October, 2018,by
Thomas E. Stevenson, as Authorized Financial Co-Manager of PREMIUM PROPERTY—
TIGARD LLC,an Oregon limited liability company, on behalf of said limited liability company.
(Personalized Seal)
Notary Public's Signature
{00099687;2} 3
STATE OF OREGON )
) ss.
County of Washington )
This instrument was acknowledged before me on October , 2018, by
, as of the Town Center
Development Agency of the City of Tigard, Oregon.
Notary Public for Oregon
My commission Expires:
STATE OF OREGON )
) ss.
County of Multnomah )
This instrument was acknowledged before me on October 11 , 2018, by
Christopher J. Nelson, as Authorized Operations Co-Manager of Premium Property-Tigard
LLC, an Oregon limited liability company, on behalf of the company.
,4074...., OFFICIAL STAMP
4. ALLISON BRENNAN ♦ .r.
r- NOTARY PUBLIC-OREGON Notary Public for Oregon
th COMMISSION NO.989253
MY COMMISSION EXPIRES NOVEMBER 30,2021My commission Expires: ki t3b(am(
STATE OF TEXAS )
) ss.
County of HARRIS )
This instrument was acknowledged before me this day of October, 2018,by
Thomas E. Stevenson,as Authorized Financial Co-Manager of PREMIUM PROPERTY—
TIGARD LLC,an Oregon limited liability company, on behalf of said limited liability company.
(Personalized Seal)
Notary Public's Signature
{00099687;2} 3
STATE OF OREGON )
) ss.
County of Washington )
This instrument was acknowledged before me on October , 2018, by
, as of the Town Center
Development Agency of the City of Tigard, Oregon,
•
Notary Public for Oregon
My commission Expires:
STATE OF OREGON )
) ss.
County of Multnomah )
This instrument was acknowledged before me on October , 2018, by
Christopher J. Nelson, as Authorized Operations Co-Manager of Premium Property-Tigard k==_
LLC, an Oregon limited liability company, on behalf of the company.
Notary Public for Oregon
My commission Expires:
STATE OF TEXAS )
ss.
County of I6 )
This instrument was acknowledged before me this 15-
day of October,2018,by
Thomas E. Stevenson,as Authorized Financial Co-Manager of PREMIUM PROPERTY—
TIGARD LLC,an Oregon limited liability company,on behalf of said limited liability company.
'ersonalized Seal)
No Pub w's Signature
#41111
P�IY` JESSICA HEATHMAN
���, Notary mDis Commission
Expires My Commission Expires
„411/04,9, February 17,2020
3
EXHIBIT A
A tract of land being a portion of Lot 5 of the plat of"BURNHAM TRACT located in the Northeast One-Quarter of
Section 2,Township 2 South,Range 1 West of the Wipamette Meridian,lo the City of Tigard,County of
Washington and State of Oregon and being more particularly described as follows:
Beginning at the Southeast corner of Lot 5 of the plat of"BURNHAM TRACT being a 3/4 inch iron pipe;thence
North 43"16'11"West 71.49 feet to a point;thence North 39"44`30"West 39.15 feet to a point;thence North
4571'36"West 6.34 feet to a point;thence North 12°53'35"West 42.34 feet to a point;thence North 34°58'59"
East 43.75 feet to a pant;thence North 44°3824"East 27.78 feet to a point,thence North 45°21'36"West 9.10
feet to a pant;thence North 37°10'33"East 20.73 feet to a point;thence North 44°3824"East 50.97 feet to a
pant;thence North 06°3824"East 26.98 feet to a panty thence North 28°1623"West 126.55 feet to a point on
the Southeasterly right-of-way of S.W.Ash Avenue(20 feet from centerline);thence along said right-of-way North
44°30'29"East 192.20 feet to a point;thence South 45°29'39"East 17.50 feet to a 5/8 inch diameter iron rod with
yellow plastic cap inscribed"AKS ENGR."Md being on said right-of-way(37.5 feet from centerline);thence along
said right-of-way North 44°30'29"East 55.37 feet to a pont,thence along a curve to the right with a radius of
237.50 feet,delta of 17°1370",length of 71.39 feet,and chord of North 53107'09"East 71.12 feet to a point;
thence North 61°43'49"East 138.76 feet to a pant;thence along a curve to the right with a radius of 21.50 feet,
delta of 75°00'00",length of 28.14 feet,and chord of South 80°46'11"East 26.18 feet to a point along the
southwesterly right-of-way of S.W.Burnham Street(37.5 feet from centerline);thence along said right-of-way
South 43°16'11"East 9.39 feet to a point;thence leaving said right-of-way South 44'31'36"West 232.50 feet to
the Southwesterly corner of that land described in Document No.2010-103509;thence South 43°16'11"East
69.42 feet to the Southeasterly corner of said land;thence South 44"30'13"West 17.00 feet to a 518 inch iron rod
with yellow plastic cap inscribed"WEDDLE LS 874"at the Southwesterly corner of that land described in
Document No_2003-194237;thence South 43°16'11"East 140.48 feet to a 5/8 inch iron rod with yellow plastic
cap inscribed"WEDDLE LS 874"on the Northwesterly line of Lot 6 of the plat of"BURNHAM TRACT;thence
South 44°3874"West 438.30 feet to the point of beginning.
{00099687;2} 4