Saxony Property DEQ Contaminated Property Notice for PPA 14-05 NOTICE OF TRANSFER OF PROPERTY AND ASSIGNMENT AND ASSUMPTION OF
PROSPECTIVE PURCHASER AGREEMENT
(DEQ PPA No. 14-05)
This Notice of Transfer or Property and Assignment and Assumption of Prospective
Purchaser Agreement ("Notice") is made by the undersigned and is provided pursuant to the
Section 8 of the Prospective Purchaser Agreement (DEQ PPA No.14-05) dated May 28,
2015 (the"PPA") between the Oregon Department of Environmental Quality("DEQ") and
the City of Tigard.
The parties to this Notice are the City of Tigard ("Seller"), City Center Development
Agency of the City of Tigard ("Buyer"), and DEQ.
The parties acknowledge that the subject property described in Attachment A to the
PPA ("Property") has environmental contamination in place and that there are obligations
related to development of the Property that are required to protect public health and the
environment. These obligations are documented in the project files for the Saxony-Pacific
Project Site, and are specifically set forth in the PPA.
The Buyer notified DEQ by way of e-mail dated November 3, 2015 that Buyer
proposes to acquire the Property and requests approval of this Notice. Representatives of
the Buyer and DEQ spoke by telephone on November 9, 2015 to discuss notice of transfer
options and procedures, including DEQ's due diligence questions, and related matters.
By its signature below, Seller confirms that it will continue to comply with the terms
of the PPA until the date of acquisition of ownership of the Property by Buyer, after which
time Seller shall be released from all obligations under the PPA.
By its signature below, Buyer hereby confirms that it assumes and agrees to be
bound by the terms of the PPA as of the date of its acquisition of ownership of the Property.
As a result of such assumption, Buyer shall assume the burdens and obtain the benefits of
the PPA, including but not limited to the release from liability described in the PPA, as
further described and subject to the conditions set forth in the PPA.
By its signature below, DEQ acknowledges receipt of this Notice and approves of
the proposed transfer and assumption and assignment of the PPA as provided herein.
Buyer and Seller both acknowledge and agree that this Notice does not alter, amend or
modify their respective obligations to each other as set forth in the Purchaser and Sale
Agreement dated November 30, 2015.
This Notice is executed by Seller and Buyer as of the 11f day of . C'U , 2015.
SELLER: BUYER:
City of Tigard City Center Development Agency of the City of
Tigard
By. By: t
Title: A44 rla c,e r- Title: u�►'� /�P� z�
The Oregon Department of Environmental Quality hereby confirms receipt of the above
referenced Notice.
THE OREGON DEPARTMENT OF
ENVIRONMENTAL QUALITY
By:
Title:
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89186-0001/LEGAL123612475.3
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Buyer and Seller both acknowledge and agree that this Notice does not alter, amend or
modify their respective obligations to each other as set forth in the Purchaser and Sale
Agreement dated November 30, 2015.
This Notice is executed by Seller and Buyer as of the 1� day of_be-utrt'.r,2015.
SELLER: BUYER:
City of Tigard City Center Development Agency of the City of
Tigard
By:
Title: Lit 4 A&-tn a.P Title: t✓CGLL� Irpr �
The Oregon Department of Environmental Quality hereby confirms receipt of the above
referenced Notice.
THE OREGON DEPARTMENT OF
ENVIRONMENTAL QUALITY
Title: _4GV'E:YzA'Pr,N"s U L5 I oKti /ym(t) t.
-2-
89186.000I/LEGAL12361247S_3