City Center Development Agency - CCDA - Promissory Note - Saxony Property PROMISSORY NOTE
$515,499.00 December 14, 2015
Tigard, Oregon
FOR VALUE RECEIVED,the City Center Development Agency, an ORS 457 Urban
Renewal Agency("Maker"), hereby promises to pay to the city of Tigard, an Oregon municipal
corporation, or order("Holder"), at 13125 SW Hall Blvd, Tigard, OR 97223, or at such other
place as Holder may from time to time designate in writing,the Principal amount of Five
Hundred Fifteen Thousand, Four Hundred and Ninety-Nine and 00/100($515,499.00)or the
amount established in Section 2.2.1 and 2.2.2 of the Purchase and Sale Agreement
("Agreement") entered into between Maker and holder on or about November 30, 2015,
whichever is greater("Purchase Price"). Maker agrees to pay to Holder the amount of the
Purchase Price on or before June 30, 2017, on which date any unpaid balance of principal owing
hereunder shall be due and payable in full.
Principal is payable in lawful money of the United States. Any payments under this
Promissory Note("Note") shall be applied first to any costs or expenses incurred by Holder in
collecting payments due hereunder, second to any penalties incurred pursuant to this Note, and
third to principal. Maker may prepay the principal owing under this Note, in whole or in part, at
any time,without penalty or premium.
The occurrence of any of the following events shall constitute a default under this Note
("Event of Default"): (a) Maker's failure to pay when due the amounts owing under this Note;
(b)the filing by Maker of a voluntary petition in bankruptcy seeking arrangement or
readjustment of debts, or any other relief under the Bankruptcy Code, as amended, or under any
other insolvency act or law, state or federal, now or hereafter existing; (c)the filing of an
involuntary petition against Maker in bankruptcy seeking arrangement or readjustment of debts
or any other relief under the Bankruptcy Code, as amended, or under any other insolvency act or
law, state or federal, now or hereafter existing, and the continuance thereof for 60 days
undismissed, unbonded,or undischarged; or(d) Maker takes any action that violates the Measure
or the Maker's Measure-related post-closing obligations as provided in Section 10.2 of the
Agreement.
Upon the occurrence of an Event of Default,the entire amount of unpaid principal owing
under this Note shall become immediately due,payable, and collectible,without notice, at the
option of Holder, and Holder may exercise any remedies available to Holder under this Note, and
applicable law. Such remedies shall be cumulative and nonexclusive, and may be pursued
singularly, successively, or together, in the sole discretion of Holder. Failure of Holder to
exercise any remedy hereunder shall not constitute a waiver of the right to exercise the same at
any time after an Event of Default or in the event of a subsequent Event of Default.
Any notices required or permitted to be given under this Note shall be in writing and may
be given by personal delivery,by a nationally recognized overnight delivery service, or by
certified mail, return receipt requested, directed to Holder or Maker at the following addresses,
Page 1 —PROMISSORY NOTE .50014-710241583056_1VAMJ/12/10/2015
or such other address as Holder or Maker may designate in writing prior to the time of the giving
of such notice:
To Holder: City of Tigard
Attn: City Manager
13125 SW Hall Blvd
Tigard,OR 97223
To Maker: City Center Development Agency
Attn: Executive Director
13125 SW Hall Blvd
Tigard, OR 97223
Any notice given shall be effective when actually received or if given by certified mail,
then forty-eight(48)hours after the deposit of such notice in the United States mail with postage
prepaid.
If Maker fails to pay this Note within five(5)days of when due, Holder, in its sole
discretion, may assess, and Holder shall pay, a late payment penalty in an amount equal to two
percent(2%)of the unpaid amount,which amount shall be payable by Maker upon demand.
Such late payment penalty may be assessed by Holder monthly until this Note is paid in full.
Except as expressly provided in this Note,Maker waives presentment for payment,
protest, demand, notice of protest,notice of dishonor, and notice of nonpayment, and expressly
agrees that this Note, or any payment hereunder, may be extended from time to time by Holder
without in any way affecting Maker's liability hereunder.
If Holder retains an attorney or collections agency to attempt collection of this Note,
Maker agrees to pay Holder's reasonable attorney fees and collection costs, even though no civil
action is filed on this Note. If a legal proceeding is commenced for the purpose of interpreting or
enforcing this Note, the prevailing party in such proceeding shall be entitled to recover
reasonable attorney fees in such proceeding, or any appeal thereof, in addition to the costs and
disbursements allowed by law.
This Note is made and delivered in, and shall be governed by, the laws of the state of
Oregon.
Time is of the essence under this Note. This Note shall inure to the benefit of and be
enforceable by Holder and Holder's successors and assignees, and shall be binding upon and
enforceable against Maker and his heirs,personal representatives, and administrators. Maker
shall not have the right to assign his obligations under this Note.
Maker
Page 2—PROMISSORY NOTE 50014-710241583056_1"/12/10/2015
Page 3—PROMISSORY NOTE 30014-71024 15,8305e_naM3n2n0n013
`'' •� Owner's Policy of Title Insurance
First A1 erican ISSUED BY
First American Title Insurance Company
POLICY NUMBER
Owner's Policy 5011400-NCS-767146-0
Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be
given to the Company at the address shown in Section 18 of the Conditions.
COVERED RISKS
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B, AND THE CONDITIONS,
FIRST AMERICAN TITLE INSURANCE COMPANY, a Nebraska corporation (the "Company") insures, as of Date of Policy and, to the extent
stated in Covered Risks 9 and 10,after Date of Policy, against loss or damage, not exceeding the Amount of Insurance,sustained or incurred by the
Insured by reason of:
1. Title being vested other than as stated in Schedule A.
2. Any defect in or lien or encumbrance on the Title.This Covered Risk includes but is not limited to insurance against loss from
(a) A defect in the Title caused by
(i) forgery,fraud,undue influence,duress,incompetency, incapacity,or impersonation;
(ii) failure of any person or Entity to have authorized a transfer or conveyance;
(iii) a document affecting Title not properly created,executed,witnessed,sealed,acknowledged, notarized,or delivered;
(iv) failure to perform those acts necessary to create a document by electronic means authorized by law;
(v) a document executed under a falsified,expired,or otherwise invalid power of attorney;
(vi) a document not properly filed, recorded, or indexed in the Public Records including failure to perform those acts by electronic
means authorized by law;or
(vii)a defective judicial or administrative proceeding.
(b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable,but unpaid.
(c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an
accurate and complete land survey of the Land.The term"encroachment"includes encroachments of existing improvements located
on the Land onto adjoining land,and encroachments onto the Land of existing improvements located on adjoining land.
3. Unmarketable Title.
4. No right of access to and from the Land.
(Covered Risks Continued on Page 2)
In Witness Whereof, First American Title Insurance Company has caused its corporate name to be hereunto affixed by its authorized officers as of
Date of Policy shown in Schedule A.
First American Title Insurance Company
Omnis J Gilmore
President
P#,"J 0
Jeffrey S Robinson
Secretary
(This Policy is valid only when Schedules A and B are attached) This Jacket was created electronically and constitutes an original document
Copyright 2006-2009 American Land Title Association.All rights reserved.The use of this form is restricted to ALTA licensees and ALTA members in good standing as of the date of use.
All other uses are prohibited.Reprinted under license from the American Land Tide Association
Form 5011400(7-1-14) Page 1 of 10 ALTA Owner's Policy of Title Insurance(6-17-06)
COVERED RISKS(Continued)
5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning)
restricting, regulating, prohibiting, or relating to
(a) the occupancy, use,or enjoyment of the Land;
(b) the character,dimensions,or location of any improvement erected on the Land;
(c) the subdivision of land; or
(d) environmental protection
if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but only to
the extent of the violation or enforcement referred to in that notice.
6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement
action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement referred to in that
notice.
7. The exercise of the rights of eminent domain if a notice of the exercise,describing any part of the Land, is recorded in the Public Records.
8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge.
9. Title being vested other than as stated in Schedule A or being defective
(a) as a result of the avoidance in whole or in part,or from a court order providing an alternative remedy, of a transfer of all or any part
of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior
transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency,or similar creditors'rights laws; or
(b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy,
state insolvency,or similar creditors'rights laws by reason of the failure of its recording in the Public Records
(i) to be timely,or
(ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor.
10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached
or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument
of transfer in the Public Records that vests Title as shown in Schedule A.
The Company will also pay the costs,attorneys'fees,and expenses incurred in defense of any matter insured against by this Policy, but only to
the extent provided in the Conditions.
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of Records at Date of Policy, but Known to the Insured Claimant
this policy, and the Company will not pay loss or damage, costs, and not disclosed in writing to the Company by the Insured
attorneys'fees,or expenses that arise by reason of: Claimant prior to the date the Insured Claimant became an
1. (a) Any law, ordinance, permit, or governmental regulation Insured under this policy;
(including those relating to building and zoning) restricting, (c) resulting in no loss or damage to the Insured Claimant;
regulating, prohibiting,or relating to (d) attaching or created subsequent to Date of Policy (however,
(i) the occupancy, use,or enjoyment of the Land; this does not modify or limit the coverage provided under
(ii) the character, dimensions, or location of any Covered Risk 9 and 10); or
improvement erected on the Land; (e) resulting in loss or damage that would not have been
(iii) the subdivision of land; or sustained if the Insured Claimant had paid value for the Title.
(iv) environmental protection; 4. Any claim, by reason of the operation of federal bankruptcy, state
or the effect of any violation of these laws, ordinances, or insolvency, or similar creditors' rights laws, that the transaction
governmental regulations. This Exclusion 1(a) does not vesting the Title as shown in Schedule A, is
modify or limit the coverage provided under Covered Risk (a) a fraudulent conveyance or fraudulent transfer;or
5' (b) a preferential transfer for any reason not stated in Covered
(b) Any governmental police power. This Exclusion 1(b) does Risk 9 of this policy.
not modify or limit the coverage provided under Covered 5. Any lien on the Title for real estate taxes or assessments imposed
Risk 6. by governmental authority and created or attaching between Date
2. Rights of eminent domain. This Exclusion does not modify or of Policy and the date of recording of the deed or other instrument
limit the coverage provided under Covered Risk 7 or 8. of transfer in the Public Records that vests Title as shown in
3. Defects,liens,encumbrances,adverse claims,or other matters Schedule A.
(a) created, suffered, assumed, or agreed to by the Insured
Claimant;
(b) not Known to the Company, not recorded in the Public
Form 5011400(7-1-14) Paqe 2 of 10 ALTA Owner's Policy of Title Insurance(6-17-06)
CONDITIONS
1. DEFINITION OF TERMS notice of matters relating to real property to purchasers for
The following terms when used in this policy mean: value and without Knowledge. With respect to Covered Risk
(a) "Amount of Insurance": The amount stated in Schedule A, 5(d), "Public Records" shall also include environmental
as may be increased or decreased by endorsement to this protection liens filed in the records of the clerk of the United
policy, increased by Section 8(b), or decreased by Sections States District Court for the district where the Land is located.
10 and 11 of these Conditions. (j) "Title":The estate or interest described in Schedule A.
(b) "Date of Policy": The date designated as"Date of Policy"in (k) "Unmarketable Title":Title affected by an alleged or apparent
Schedule A. matter that would permit a prospective purchaser or lessee of
(c) "Entity": A corporation, partnership, trust, limited liability the Title or lender on the Title to be released from the
company,or other similar legal entity. obligation to purchase, lease, or lend if there is a contractual
(d) "Insured":The Insured named in Schedule A. condition requiring the delivery of marketable title.
(i) The term"Insured"also includes 2. CONTINUATION OF INSURANCE
(A) successors to the Title of the Insured by The coverage of this policy shall continue in force as of Date of
operation of law as distinguished from purchase, Policy in favor of an Insured, but only so long as the Insured
including heirs, devisees, survivors, personal retains an estate or interest in the Land, or holds an obligation
representatives,or next of kin; secured by a purchase money Mortgage given by a purchaser from
(B) successors to an Insured by dissolution, merger, the Insured, or only so long as the Insured shall have liability by
consolidation,distribution,or reorganization; reason of warranties in any transfer or conveyance of the Title.
(C) successors to an Insured by its conversion to This policy shall not continue in force in favor of any purchaser
another kind of Entity; from the Insured of either(i) an estate or interest in the Land, or
(D) a grantee of an Insured under a deed delivered (ii) an obligation secured by a purchase money Mortgage given to
without payment of actual valuable consideration the Insured.
conveying the Title 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT
(1) if the stock, shares, memberships, or other The Insured shall notify the Company promptly in writing (i) in
equity interests of the grantee are wholly- case of any litigation as set forth in Section 5(a) of these
owned by the named Insured, Conditions, (ii) in case Knowiedge shall come to an Insured
(2) if the grantee wholly owns the named hereunder of any claim of title or interest that is adverse to the
Insured, Title, as insured, and that might cause loss or damage for which
(3) if the grantee is wholly-owned by an the Company may be liable by virtue of this policy, or (iii) if the
affiliated Entity of the named Insured, Title,as insured,is rejected as Unmarketable Title. If the Company
provided the affiliated Entity and the named is prejudiced by the failure of the Insured Claimant to provide
Insured are both wholly-owned by the same prompt notice, the Company's liability to the Insured Claimant
person or Entity, or under the policy shall be reduced to the extent of the prejudice.
(4) if the grantee is a trustee or beneficiary of a 4. PROOF OF LOSS
trust created by a written instrument In the event the Company is unable to determine the amount of
established by the Insured named in loss or damage, the Company may, at its option, require as a
Schedule A for estate planning purposes. condition of payment that the Insured Claimant furnish a signed
(ii) With regard to (A), (B), (C), and (D) reserving, proof of loss. The proof of loss must describe the defect, lien,
however, all rights and defenses as to any successor encumbrance, or other matter insured against by this policy that
that the Company would have had against any constitutes the basis of loss or damage and shall state, to the
predecessor Insured. extent possible, the basis of calculating the amount of the loss or
(e) "Insured Claimant": An Insured claiming loss or damage. damage.
(f) "Knowledge" or "Known": Actual knowledge, not 5. DEFENSE AND PROSECUTION OF ACTIONS
constructive knowledge or notice that may be imputed to (a) Upon written request by the Insured, and subject to the
an Insured by reason of the Public Records or any other options contained in Section 7 of these Conditions, the
records that impart constructive notice of matters affecting Company, at its own cost and without unreasonable delay,
the Title. shall provide for the defense of an Insured in litigation in
(g) "Land": The land described in Schedule A, and affixed which any third party asserts a claim covered by this policy
improvements that by law constitute real property, The adverse to the Insured.This obligation is limited to only those
term"Land"does not include any property beyond the lines stated causes of action alleging matters insured against by
of the area described in Schedule A, nor any right, title, this policy. The Company shall have the right to select
interest, estate, or easement in abutting streets, roads, counsel of its choice (subject to the right of the Insured to
avenues, alleys, lanes, ways, or waterways, but this does object for reasonable cause) to represent the Insured as to
not modify or limit the extent that a right of access to and those stated causes of action. It shall not be liable for and will
from the Land is insured by this policy. not pay the fees of any other counsel.The Company will not
(h) "Mortgage": Mortgage, deed of trust, trust deed, or other pay any fees, costs, or expenses incurred by the Insured in
security instrument, including one evidenced by electronic the defense of those causes of action that allege matters not
means authorized by law. insured against by this policy.
(i) "Public Records": Records established under state statutes
at Date of Policy for the purpose of imparting constructive
Form 5011400(7-1-14) Paqe 3 of 10 ALTA Owner's Policy of Title Insurance(6-17-06)
CONDITIONS(Continued)
(b) The Company shall have the right, in addition to the 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;
options contained in Section 7 of these Conditions, at its TERMINATION OF LIABILITY
own cost, to institute and prosecute any action or In case of a claim under this policy, the Company shall have the
proceeding or to do any other act that in its opinion may be following additional options:
necessary or desirable to establish the Title, as insured, or (a) To Pay or Tender Payment of the Amount of Insurance.
to prevent or reduce loss or damage to the Insured. The To pay or tender payment of the Amount of Insurance under
Company may take any appropriate action under the terms this policy together with any costs, attorneys' fees, and
of this policy, whether or not it shall be liable to the expenses incurred by the Insured Claimant that were
Insured. The exercise of these rights shall not be an authorized by the Company up to the time of payment or
admission of liability or waiver of any provision of this tender of payment and that the Company is obligated to pay.
policy. If the Company exercises its rights under this Upon the exercise by the Company of this option, all liability
subsection,it must do so diligently.
(c) Whenever the Company brings an action or asserts a and obligations of the Company to the Insured under this
defense as required or permitted by this policy, the policy, other than to make the payment required in this
Company may pursue the litigation to a final determination subsection,shall terminate, including any liability or obligation
by a court of competent jurisdiction, and it expressly to defend,prosecute,or continue any litigation.
reserves the right, in its sole discretion, to appeal any (b) To Pay or Otherwise Settle With Parties Other Than the
adverse judgment or order. Insured or With the Insured Claimant.
6. DUTY OF INSURED CLAIMANT TO COOPERATE (i) To pay or otherwise settle with other parties for or in the
(a) In all cases where this policy permits or requires the name of an Insured Claimant any claim insured against
Company to prosecute or provide for the defense of any under this policy. In addition, the Company will pay any
action or proceeding and any appeals, the Insured shall costs, attorneys' fees, and expenses incurred by the
secure to the Company the right to so prosecute or provide Insured Claimant that were authorized by the Company
defense in the action or proceeding, including the right to up to the time of payment and that the Company is
use,at its option,the name of the Insured for this purpose. obligated to pay;or
Whenever requested by the Company, the Insured, at the (ii) To pay or otherwise settle with the Insured Claimant the
Company's expense, shall give the Company all reasonable loss or damage provided for under this policy, together
aid (i) in securing evidence, obtaining witnesses, with any costs, attorneys' fees, and expenses incurred
prosecuting or defending the action or proceeding, or by the Insured Claimant that were authorized by the
effecting settlement, and (ii) in any other lawful act that in Company up to the time of payment and that the
the opinion of the Company may be necessary or desirable Company is obligated to pay.
to establish the Title or any other matter as insured. If the Upon the exercise by the Company of either of the options
Company is prejudiced by the failure of the Insured to provided for in subsections (b)(i) or (ii), the Company's
furnish the required cooperation,the Company's obligations ( )()
to the Insured under the policy shall terminate, including obligations to the Insured under this policy for the claimed
any liability or obligation to defend, prosecute, or continue loss or damage, other than the payments required to be
any litigation, with regard to the matter or matters made, shall terminate, including any liability or obligation to
requiring such cooperation. defend,prosecute,er continue any litigation.
(b) The Company may reasonably require the Insured Claimant B. DETERMINATION AND EXTENT OF LIABILITY
to submit to examination under oath by any authorized This policy is a contract of indemnity against actual monetary loss
representative of the Company and to produce for or damage sustained or incurred by the Insured Claimant who has
examination, inspection, and copying, at such reasonable suffered loss or damage by reason of matters insured against by
times and places as may be designated by the authorized this policy.
representative of the Company, all records, in whatever (a) The extent of liability of the Company for loss or damage
medium maintained, including books, ledgers, checks, under this policy shall not exceed the lesser of
memoranda,correspondence, reports,e-mails,disks,tapes, (i) the Amount of Insurance; or
and videos whether bearing a date before or after Date of (ii) the difference between the value of the Title as insured
Policy, that reasonably pertain to the loss or damage. and the value of the Title subject to the risk insured
Further, if requested by any authorized representative of against by this policy.
the Company, the Insured Claimant shall grant its (b) If the Company pursues its rights under Section 5 of these
permission, in writing, for any authorized representative of Conditions and is unsuccessful in establishing the Title, as
the Company to examine, inspect, and copy all of these insured,
records in the custody or control of a third party that (i) the Amount of Insurance shall be increased by 10%,and
reasonably pertain to the loss or damage. All information
designated as confidential by the Insured Claimant (ii) the Insured ge dete shall have the right to have the
provided to the Company pursuant to this Section shall not loss or damage determined either as of the date the
be disclosed to others unless, in the reasonable judgment claim was made by the Insured Claimant or as of the
of the Company, it is necessary in the administration of the date it is settled and paid.
claim. Failure of the Insured Claimant to submit for (c) In addition to the extent of liability under (a) and (b), the
examination under oath, produce any reasonably requested Company will also pay those costs, attorneys' fees, and
information, or grant permission to secure reasonably expenses incurred in accordance with Sections 5 and 7 of
necessary information from third parties as required in this these Conditions.
subsection, unless prohibited by law or governmental
regulation, shall terminate any liability of the Company
under this policy as to that claim.
Form 5011400(7-1-14) Paqe 4 of 10 ALTA Owner's Policy of Title Insurance(6-17-06)
CONDITIONS(Continued)
9. LIMITATION OF LIABILITY Association("Rules"). Except as provided in the Rules, there shall
(a) If the Company establishes the Title, or removes the be no joinder or consolidation with claims or controversies of
alleged defect, lien, or encumbrance, or cures the lack of other persons.Arbitrable matters may include, but are not limited
a right of access to or from the Land, or cures the claim to, any controversy or claim between the Company and the
of Unmarketable Title, all as insured, in a reasonably Insured arising out of or relating to this policy, any service in
diligent manner by any method, including litigation and connection with its issuance or the breach of a policy provision,
the completion of any appeals, it shall have fully or to any other controversy or claim arising out of the transaction
performed its obligations with respect to that matter and giving rise to this policy. All arbitrable matters when the Amount
shall not be liable for any loss or damage caused to the of Insurance is $2,000,000 or less shall be arbitrated at the
Insured. option of either the Company or the Insured. All arbitrable
(b) In the event of any litigation, including litigation by the matters when the Amount of Insurance is in excess of
Company or with the Company's consent, the Company $2,000,000 shall be arbitrated only when agreed to by both the
shall have no liability for loss or damage until there has Company and the Insured.Arbitration pursuant to this policy and
been a final determination by a court of competent under the Rules shall be binding upon the parties. Judgment
jurisdiction, and disposition of all appeals, adverse to the upon the award rendered by the Arbitrator(s) may be entered in
Title,as insured. any court of competent jurisdiction.
(c) The Company shall not be liable for loss or damage to the 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE
Insured for liability voluntarily assumed by the Insured in CONTRACT
settling any claim or suit without the prior written consent (a) This policy together with all endorsements, if any, attached
of the Company. to it by the Company is the entire policy and contract
10. REDUCTION OF INSURANCE; REDUCTION OR between the Insured and the Company. In interpreting any
TERMINATION OF LIABILITY provision of this policy, this policy shall be construed as a
Ali payments under this policy, except payments made for whole.
costs, attorneys'fees, and expenses, shall reduce the Amount (b) Any claim of loss or damage that arises out of the status of
of Insurance by the amount of the payment. the Title or by any action asserting such claim shall be
11. LIABILITY NONCUMULATIVE restricted to this policy.
The Amount of Insurance shall be reduced by any amount the (c) Any amendment of or endorsement to this policy must be in
Company pays under any policy insuring a Mortgage to which writing and authenticated by an authorized person, or
exception is taken in Schedule B or to which the Insured has expressly incorporated by Schedule A of this policy.
agreed,assumed,or taken subject,or which is executed by an (d) Each endorsement to this policy issued at any time is made
Insured after Date of Policy and which is a charge or lien on a part of this policy and is subject to all of its terms and
the Title, and the amount so paid shall be deemed a payment provisions. Except as the endorsement expressly states, it
to the Insured under this policy. does not(i) modify any of the terms and provisions of the
12. PAYMENT OF LOSS policy, (ii) modify any prior endorsement, (iii) extend the
When liability and the extent of loss or damage have been Date of Policy,or(iv)increase the Amount of Insurance.
definitely fixed in accordance with these Conditions, the 16. SEVERABILITY
payment shall be made within 30 days. In the event any provision of this policy, in whole or in part, is
13. RIGHTS OF RECOVERY UPON PAYMENT OR held invalid or unenforceable under applicable law, the policy
SETTLEMENT shall be deemed not to include that provision or such part held to
(a) Whenever the Company shall have settled and paid a be invalid, but all other provisions shall remain in full force and
claim under this policy,it shall be subrogated and entitled effect.
to the rights of the Insured Claimant in the Title and all 17. CHOICE OF LAW;FORUM
other rights and remedies in respect to the claim that the (a) Choice of Law:The Insured acknowledges the Company has
Insured Claimant has against any person or property, to underwritten the risks covered by this policy and
the extent of the amount of any loss, costs, attorneys' determined the premium charged therefor in reliance upon
fees,and expenses paid by the Company. If requested by the law affecting interests in real property and applicable to
the Company, the Insured Claimant shall execute the interpretation, rights, remedies, or enforcement of
documents to evidence the transfer to the Company of policies of title insurance of the jurisdiction where the Land
these rights and remedies. The Insured Claimant shall is located.
permit the Company to sue, compromise, or settle in the Therefore, the court or an arbitrator shall apply the law of
name of the Insured Claimant and to use the name of the the jurisdiction where the Land is located to determine the
Insured Claimant in any transaction or litigation involving validity of claims against the Title that are adverse to the
these rights and remedies. Insured and to interpret and enforce the terms of this
If a payment on account of a claim does not fully cover policy. In neither case shall the court or arbitrator apply its
the loss of the Insured Claimant,the Company shall defer conflicts of law principles to determine the applicable law.
the exercise of its right to recover until after the Insured (b) Choice of Forum: Any litigation or other proceeding brought
Claimant shall have recovered its loss. by the Insured against the Company must be filed only in a
(b) The Company's right of subrogation includes the rights of state or federal court within the United States of America or
the Insured to indemnities, guaranties, other policies of its territories having appropriate jurisdiction.
insurance, or bonds, notwithstanding any terms or 18. NOTICES,WHERE SENT
conditions contained in those instruments that address Any notice of claim and any other notice or statement in writing
subrogation rights. required to be given to the Company under this policy must be
14. ARBITRATION given to the Company at First American Title Insurance
Either the Company or the Insured may demand that the claim Company, Attn: Claims National Intake Center, 1 First
or controversy shall be submitted to arbitration pursuant to the American Way; Santa Ana, CA 92707. Phone: 888-632-
Title Insurance Arbitration Rules of the American Land Title 1642.
Form 5011400(7-1-14) Paqe 5 of 10 ALTA Owner's Policy of Title Insurance(6-17-06)
.� Owner's Policy of Title Insurance
First American
ISSUED BY
First American Title Insurance Company
Schedule A POLICY NUMBER
NCS-767146-0
Name and Address of Title Insurance Company:
First American Title Insurance Company, 1 First American Way, Santa Ana, CA 92707.
File No.: NCS-767146-OR1
Address Reference: 2533, 12535, 12537, Southwest Amount of Insurance: $515,500.00
Main Street, Tigard, OR
Premium: $1,374.00 Date of Policy: December 03, 2015 at 8:00 A.M.
1. Name of Insured:
City Center Development Agency
2. The estate or interest in the Land that is insured by this policy is:
Fee Simple
3. Title is vested in:
City Center Development Agency, an ORS Chapter 457 urban renewal agency
4. The Land referred to in this policy is described as follows:
See Exhibit"A" attached hereto and made a part hereof
Form 5011400(7-1-14) Paqe 6 of 10 ALTA Owner's Policy of Title Insurance(6-17-06)
` Owner's Policy of Title Insurance
First American
`lir Nc� ISSUED BY
First American Title Insurance Company
Schedule B POLICY NUMBER
NCS-767146-0
EXCEPTIONS FROM COVERAGE
File No.: NCS-767146-OR1
This policy does not insure against loss or damage, and the Company will not pay costs, attorneys' fees,
or expenses that 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. Facts, rights, interests or claims which are not shown by the public records but which could be
ascertained by an inspection of the land or by making inquiry of persons in possession thereof.
3. Easements, or claims of easement, not shown by the public records; reservations or exceptions in
patents or in Acts authorizing the issuance thereof; water rights, claims or title to water.
4. Any encroachment (of existing improvements located on the subject land onto adjoining land or
of existing improvements located on adjoining land onto the subject land), encumbrance,
violation, variation, or adverse circumstance affecting the title that would be disclosed by an
accurate and complete land survey of the subject land.
5. Any lien, or right to a lien, for services, labor, material, equipment rental or workers
compensation heretofore or hereafter furnished, imposed by law and not shown by the public
records.
6. City liens, if any, for the city of Tigard.
7. These premises are within the boundaries of the Clean Water Services District and are subject to
the levies and assessments thereof. None as of the date of the policy
S. Easement, including terms and provisions contained therein:
Recording Information: July 13, 1964 in Book 517, page 282
In Favor of: City of Tigard
For: Sewer
9. Easement, including terms and provisions contained therein:
Recording Information: November 20, 1972 in Book 897, page 977
In Favor of: Unified Sewerage Agency
For: Sewer
Form 5011400(7-1-14) Pace 7 of 10 ALTA Owner's Policy of Title Insurance(6-17-06)
10. Easement, including terms and provisions contained therein:
Recording Information: November 20, 1972 in Book 897, page 979
In Favor of: Unified Sewerage Agency
For: Sewer
11. Easement, including terms and provisions contained therein:
Recording Information: September 13, 2012 as Recording No. 2012-076047
In Favor of: The City of Tigard
For: Temporary construction
12. The terms and provisions contained in the document entitled "Consent Judgment" recorded June
12, 2015 as Recording No. 2015-046428 of Official Records.
13. The terms and provisions contained in the document entitled "Easement and Equitable
Servitudes" recorded December 07, 2015 as Fee No. 2015-100108 of Official Records.
14. Grantor's repurchase right as disclosed by deed recorded December 16, 2015 as Fee No. 2015-
102934.
Form 5011400(7-1-14) Paqe 8 of 10 ALTA Owner's Policy of Title Insurance(6-17-06)
First American
ISSUED BY
First American Title Insurance Company
POLICY NUMBER
Exhibit A 5011400-NCS-767146-0
File No.: NCS-767146-OR1
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE COUNTY OF Washington, STATE OF OR, AND IS
DESCRIBED AS FOLLOWS:
PARCEL I:
BEGINNING AT AN IRON PIPE MARKING THE NORTHWEST CORNER OF THE SOUTH 1/2 OF THE JOHN HICKLIN
DONATION LAND CLAIM NO. 37 IN TOWNSHIP 2 SOUTH, RANGE 1 WEST, WILLAMETTE MERIDIAN, WASHINGTON
COUNTY, OREGON.
AND RUNNING THENCE SOUTH 45°00' WEST ON LINE BETWEEN THE SAID JOHN HICKLIN DONATION LAND CLAIM AND
THE GEORGE RICHARDSON DONATION LAND CLAIM, A DISTANCE OF 1807.1 FEET TO A POINT;
THENCE SOUTH 45000' EAST ALONG THE EASTERLY LINE OF THAT CERTAIN TRACT OF LAND CONVEYED TO EMIL A.
AND OLIVIA T. JOHNSON BY DEED AS RECORDED IN BOOK 118 PAGE 0069, WASHINGTON COUNTY, DEED RECORDS A
DISTANCE OF 131.0 FEET TO THE POINT OF BEGINNING OF THE HEREIN DESCRIBED TRACT;
THENCE FROM THE DESCRIBED POINT OF BEGINNING SOUTH 45000' EAST ALONG THE EASTERLY LINE OF SAID
JOHNSON TRACT A DISTANCE OF 93.0 FEET TO A POINT ON THE NORTHERLY LINE OF THE PACIFIC HIGHWAY,
THENCE FOLLOWING SAID NORTHERLY LINE OF THE PACIFIC HIGHWAY ON A 5730.0 FOOT RADIUS CURVE TO THE
RIGHT(THE LONG CHORD OF WHICH BEARS SOUTH 57°31' WEST 23.5 FEET) 23.5 FEET TO A POINT MARKED BY AN
IRON HIGHWAY RIGHT OF WAY MARKER;
THENCE SOUTH 57°38' WEST ALONG SAID RIGHT OF WAY LINE 145.0 FEET TO A POINT IN THE CENTER OF FANNO
CREEK;
THENCE NORTH 36°30' WEST IN THE CENTER OF FANNO CREEK A DISTANCE OF 78.6 FEET TO A POINT;
THENCE NORTH 55°52' WEST IN THE CENTER OF FANNO CREEK A DISTANCE OF 6.1 FEET TO A POINT;
THENCE NORTH 55009' EAST ALONG THE HIGHWAY RIGHT OF WAY LINE A DISTANCE OF 156.4 FEET TO THE POINT
OF BEGINNING.
PARCEL II:
BEGINNING AT AN IRON PIPE MARKING THE NORTHEAST CORNER OF THE SOUTH 1/2 OF THE JOHN HICKLIN
DONATION LAND CLAIM IN TOWNSHIP 2 SOUTH, RANGE 1 WEST, WILLAMETTE MERIDIAN, WASHINGTON COUNTY,
OREGON.
AND RUNNING THENCE SOUTH 45°18' WEST ALONG THE DONATION LAND CLAIM LINE 1814.5 FEET TO THE MOST
WESTERLY CORNER OF LOT 15 OF ELECTRIC ADDITION TO TIGARDVILLE ( PLAT BOOK 2, PAGE 0042), A DULY
RECORDED SUBDIVISION IN WASHINGTON COUNTY, OREGON;
THENCE SOUTH 44047' EAST ON THE SOUTHWESTERLY LINE OF SAID LOT 15 AND THE NORTHEASTERLY LINE OF A
TRACT OF LAND CONVEYED TO EMIL JOHNSON BY DEED AS RECORDED IN BOOK 118 PAGE 0069 OF WASHINGTON
COUNTY DEED RECORDS, 131.0 FEET TO THE WESTERLY CORNER OF THE SOUTHEASTERLY 1/2 OF SAID LOT 15 AND
THE TRUE POINT OF BEGINNING OF THE HEREIN DESCRIBED TRACT;
THENCE FROM THE DESCRIBED POINT OF BEGINNING SOUTH 44°47' EAST ON SAID SOUTHWESTERLY LINE OF LOT 15
A DISTANCE OF 96.0 FEET TO THE NORTHERLY LINE OF THE OLD TAYLORS FERRY ROAD;
THENCE NORTH 60012' EAST ON SAID ROAD LINE 22.2 FEET TO AN IRON;
THENCE NORTH 36°10' WEST 48.3 FEET TO AN IRON;
THENCE NORTH 60012' EAST 40.1 FEET TO AN IRON;
THENCE NORTH 36°10' WEST 65.0 FEET TO AN IRON ON THE EASTERLY BOUNDARY OF THE STATE HIGHWAY;
THENCE SOUTH 45°14' WEST ALONG SAID LINE, 77.24 FEET TO THE POINT OF BEGINNING.
Form 5011400(7-1-14) Paqe 9 of 10 ALTA Owner's Policy of Title Insurance(6-17-06)
EXCEPTING THEREFROM THAT PORTION DEDICATED TO THE CITY OF TIGARD FOR ROAD AND STREET PURPOSES BY
DEDICATION DEED RECORDED SEPTEMBER 13, 2012 AS RECORDING NO. 2012-076047.
Form 5011400(7-1-14) Paqe 10 of 10 ALTA Owne,'s Policy of Title Insurance(6-17-06)
l
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First American Title Company of Oregon
National Commercial Services
200 SW Market Street, Suite 250
Portland, Oregon 97201
Title Officer: Steve Manome
Phone: (503)219-8742
Fax: (866)678-0591
E-mail smanome@firstam.com File No: NCS-767146-OR1
PRELIMINARY TITLE REPORT
ALTA Owners Standard Coverage Liability $ TBD Premium $ TBD
ALTA Owners Extended Coverage Liability $ Premium $
ALTA Lenders Standard Coverage Liability $ Premium $
ALTA Lenders Extended Coverage Liability $ Premium $
ALTA Leasehold Standard Coverage Liability $ Premium $
ALTA Leasehold Extended Coverage Liability $ Premium $
Endorsements Liability $ Premium $
Govt Service Charge Cost $
Other $
We are prepared to issue Title Insurance Policy or Policies in the form and amount shown above, insuring
title to the following described land:
The land referred to in this report is described in Exhibit"A" attached hereto.
and as of 12/03/2015 at 8:00 a.m.,title to the fee simple estate is vested in:
City of Tigard, an Oregon municipal corporation
Subject to the exceptions, exclusions, and stipulations which are ordinarily part of such Policy form and
the following:
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. Facts, rights, interests or claims which are not shown by the public records but which could be
ascertained by an inspection of the land or by making inquiry of persons in possession thereof.
3. Easements, or claims of easement, not shown by the public records; reservations or exceptions in
patents or in Acts authorizing the issuance thereof; water rights, claims or title to water.
This report is for the exclusive use of the parties herein shown and is preliminary to the issuance of a
title insurance policy and shall become void unless a policy is issued,and the full premium paid.
Preliminary Report Order Number: NCS-767146-OR1
Page Number: 2
4. Any encroachment (of existing improvements located on the subject land onto adjoining land or
of existing improvements located on adjoining land onto the subject land), encumbrance,
violation, variation, or adverse circumstance affecting the title that would be disclosed by an
accurate and complete land survey of the subject land.
5. Any lien, or right to a lien, for services, labor, material, equipment rental or workers
compensation heretofore or hereafter furnished, imposed by law and not shown by the public
records.
The exceptions to coverage 1-5 inclusive as set forth above will remain on any subsequently
issued Standard Coverage Title Insurance Policy.
In order to remove these exceptions to coverage in the issuance of an Extended Coverage
Policy the following items are required to be furnished to the Company; additional
exceptions to coverage may be added upon review of such information:
A. Survey or alternative acceptable to the company
B. Affidavit regarding possession
C. Proof that there is no new construction or remodeling of any improvement located on the
premises. In the event of new construction or remodeling the following is required:
i. Satisfactory evidence that no construction liens will be filed; or
ii. Adequate security to protect against actual or potential construction liens;
iii. Payment of additional premiums as required by the Industry Rate Filing approved
by the Insurance Division of the State of Oregon
6. City liens, if any, for the city of Tigard.
Note: An inquiry has NOT been made concerning the actual status of such liens. A fee of$25.00
will be charged per tax account each time an inquiry request is made.
7. These premises are within the boundaries of the Clean Water Services District and are subject to
the levies and assessments thereof.
8. Easement, including terms and provisions contained therein:
Recording Information: July 13, 1964 in Book 517, page 282
In Favor of: City of Tigard
For: Sewer
9. Easement, including terms and provisions contained therein:
Recording Information: November 20, 1972 in Book 897, page 977
In Favor of: Unified Sewerage Agency
For: Sewer
10. Easement, including terms and provisions contained therein:
Recording Information: November 20, 1972 in Book 897, page 979
In Favor of: Unified Sewerage Agency
For: Sewer
First American Title
Preliminary Report Order Number: NCS-767146-OR1
Page Number: 3
11. Easement, including terms and provisions contained therein:
Recording Information: September 13, 2012 as Recording No. 2012-076047
In Favor of: The City of Tigard
For: Temporary construction
12. The terms and provisions contained in the document entitled "Consent Judgment" recorded June
12, 2015 as Recording No. 2015-046428 of Official Records.
13. Title to vest in an incoming owner whose name is not disclosed. Such name must be furnished
to us so that a name search may be made.
14. Unrecorded leases or periodic tenancies, if any.
15. The terms and provisions contained in the document entitled "Easement and Equitable
Servitudes" recorded December 07, 2015 as Fee No. 2015-100108 of Official Records.
-END OF EXCEPTIONS-
First American Title
Preliminary Report Order Number: NCS-767146-ORI
Page Number: 4
INFORMATIONAL NOTES
NOTE: This report does not include a search for Financing Statements filed in the office of the Secretary
of State, or in a county other than the county wherein the premises are situated, and no liability is
assumed if a Financing Statement is filed in the office of the County Clerk(Recorder)covering fixtures on
the premises wherein the lands are described other than by metes and bounds or under the rectangular
survey system or by recorded lot and book.
NOTE: Washington County Ordinance No. 267, filed August 5, 1982 in Washington County, Oregon,
imposes a tax of$1.00 per thousand or fraction thereof on the transfer of real property located within
Washington County.
NOTE: Taxes for the year 2015-2016, paid in full.
Tax Amount: $4,356.37
Code No.: 023.75
Map&Tax Lot No. 2S12AB-02000
Property ID/Key No. R461299
(Affects Parcel I)
NOTE: Taxes for the year 2015-2016, paid in full.
Tax Amount: $278.53
Code No.: 023.75
Map&Tax Lot No. 2S12AB-02100
Property ID/Key No. R461306
(Affects Parcel II)
THANK YOU FOR CHOOSING FIRST AMERICAN TITLE
WE KNOW YOU HAVE A CHOICE!
First American Title
Preliminary Report Order Number: NCS-767146-OR1
Page Number: 5
First American Title Insurance Company of Oregon
SCHEDULE OF EXCLUSIONS FROM COVERAGE
1.AMERICAN LAND TITLE ASSOCIATION LOAN POLICY-2006
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
that arise by reason of:
1.(a)Any law,ordinance,permit,or governmental regulation(including those relating to building and zoning)restricting,regulating,prohibiting,or relating to
(i)the occupancy,use,or enjoyment of the Land;
(ii)the character,dimensions,or location of any improvement erected on the Land;
(iii)the subdivision of land;or
(iv)environmental protection;
or the effect of any violation of these laws,ordinances,or governmental regulations.This Exclusion 1(a)does not modify or limit the coverage provided
under Covered Risk 5.
(b)Any governmental police power.This Exclusion 1(b)does not modify or limit the coverage provided under Covered Risk 6.
2. Rights of eminent domain.This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
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(however,this does not modify or limit the coverage provided under Covered Risk 11, 13,or 14);or
(e)resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Insured Mortgage.
4.Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing-business laws of the state
where the Land is situated.
5.Invalidity or unenforceability in whole or in part of the lien of the Insured Mortgage that arises out of the transaction evidenced by the Insured Mortgage and is
based upon usury or any consumer credit protection or truth-in-lending law.
6.Any claim,by reason of the operation of federal bankruptcy,state insolvency,or similar creditors?rights laws,that the transaction
creating the lien of the Insured Mortgage,is
(a)a fraudulent conveyance or fraudulent transfer,or
(b)a preferential transfer for any reason not stated in Covered Risk 13(b)of this policy.
7.Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of
recording of the Insured Mortgage in the Public Records.This Exclusion does not modify or limit the coverage provided under Covered Risk 11(b).
2.American Land Title Association OWNER POLICY-2006
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 that arise by reason of:
1.(a)Any law,ordinance,permit,or governmental regulation(including those relating to building and zoning)restricting,regulating,prohibiting,or
relating to
(i)the occupancy,use,or enjoyment of the Land;
(ii)the character,dimensions,or location of any improvement erected on the Land;
(iii)the subdivision of land;or
(iv)environmental protection;
or the effect of any violation of these laws,ordinances,or governmental regulations.This Exclusion 1(a)does not modify or limit the coverage provided
under Covered Risk 5.
(b)Any governmental police power.This Exclusion 1(b)does not modify or limit the coverage provided under Covered Risk 6.
2.Rights of eminent domain.This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
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(however,this does not modify or limit the coverage provided under Covered Risks 9 and 10);or
(e)resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title.
4.Any claim,by reason of the operation of federal bankruptcy,state insolvency,or similar creditors.rights laws,that the transaction vesting the Title as shown
in Schedule A,is
(a)a fraudulent conveyance or fraudulent transfer;or
(b)a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
5.Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and
the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
First American Title
Preliminary Report Order Number: NCS-767146-OR1
Page Number: 6
Exhibit "A"
Real property in the County of Washington , State of Oregon, described as follows:
PARCEL I:
BEGINNING AT AN IRON PIPE MARKING THE NORTHWEST CORNER OF THE SOUTH 1/2 OF THE JOHN
HICKLIN DONATION LAND CLAIM NO. 37 IN TOWNSHIP 2 SOUTH, RANGE 1 WEST, WILLAMETTE
MERIDIAN, WASHINGTON COUNTY, OREGON.
AND RUNNING THENCE SOUTH 45°00' WEST ON LINE BETWEEN THE SAID JOHN HICKLIN DONATION
LAND CLAIM AND THE GEORGE RICHARDSON DONATION LAND CLAIM, A DISTANCE OF 1807.1 FEET
TO A POINT;
THENCE SOUTH 45000' EAST ALONG THE EASTERLY LINE OF THAT CERTAIN TRACT OF LAND
CONVEYED TO EMIL A. AND OLIVIA T. JOHNSON BY DEED AS RECORDED IN BOOK 118 PAGE 0069,
WASHINGTON COUNTY, DEED RECORDS A DISTANCE OF 131.0 FEET TO THE POINT OF BEGINNING OF
THE HEREIN DESCRIBED TRACT;
THENCE FROM THE DESCRIBED POINT OF BEGINNING SOUTH 45000' EAST ALONG THE EASTERLY LINE
OF SAID JOHNSON TRACT A DISTANCE OF 93.0 FEET TO A POINT ON THE NORTHERLY LINE OF THE
PACIFIC HIGHWAY;
THENCE FOLLOWING SAID NORTHERLY LINE OF THE PACIFIC HIGHWAY ON A 5730.0 FOOT RADIUS
CURVE TO THE RIGHT(THE LONG CHORD OF WHICH BEARS SOUTH 57°31' WEST 23.5 FEET) 23.5
FEET TO A POINT MARKED BY AN IRON HIGHWAY RIGHT OF WAY MARKER;
THENCE SOUTH 57°38' WEST ALONG SAID RIGHT OF WAY LINE 145.0 FEET TO A POINT IN THE
CENTER OF FANNO CREEK;
THENCE NORTH 36°30' WEST IN THE CENTER OF FANNO CREEK A DISTANCE OF 78.6 FEET TO A
POINT;
THENCE NORTH 55°52' WEST IN THE CENTER OF FANNO CREEK A DISTANCE OF 6.1 FEET TO A POINT;
THENCE NORTH 55009' EAST ALONG THE HIGHWAY RIGHT OF WAY LINE A DISTANCE OF 156.4 FEET
TO THE POINT OF BEGINNING.
PARCEL II:
BEGINNING AT AN IRON PIPE MARKING THE NORTHEAST CORNER OF THE SOUTH 1/2 OF THE JOHN
HICKLIN DONATION LAND CLAIM IN TOWNSHIP 2 SOUTH, RANGE 1 WEST, WILLAMETTE MERIDIAN,
WASHINGTON COUNTY, OREGON.
AND RUNNING THENCE SOUTH 45018' WEST ALONG THE DONATION LAND CLAIM LINE 1814.5 FEET
TO THE MOST WESTERLY CORNER OF LOT 15 OF ELECTRIC ADDITION TO TIGARDVILLE ( PLAT BOOK
2, PAGE 0042), A DULY RECORDED SUBDIVISION IN WASHINGTON COUNTY, OREGON;
THENCE SOUTH 44047' EAST ON THE SOUTHWESTERLY LINE OF SAID LOT 15 AND THE
NORTHEASTERLY LINE OF A TRACT OF LAND CONVEYED TO EMIL JOHNSON BY DEED AS RECORDED IN
BOOK 118 PAGE 0069 OF WASHINGTON COUNTY DEED RECORDS, 131.0 FEET TO THE WESTERLY
CORNER OF THE SOUTHEASTERLY 1/2 OF SAID LOT 15 AND THE TRUE POINT OF BEGINNING OF THE
HEREIN DESCRIBED TRACT;
THENCE FROM THE DESCRIBED POINT OF BEGINNING SOUTH 44047' EAST ON SAID SOUTHWESTERLY
LINE OF LOT 15 A DISTANCE OF 96.0 FEET TO THE NORTHERLY LINE OF THE OLD TAYLORS FERRY
ROAD;
THENCE NORTH 60012' EAST ON SAID ROAD LINE 22.2 FEET TO AN IRON;
THENCE NORTH 36°10' WEST 48.3 FEET TO AN IRON;
THENCE NORTH 60012' EAST 40.1 FEET TO AN IRON;
THENCE NORTH 36°10' WEST 65.0 FEET TO AN IRON ON THE EASTERLY BOUNDARY OF THE STATE
HIGHWAY;
First American Title
Preliminary Report Order Number: NCS-767146-OR1
Page Number: 7
THENCE SOUTH 45014' WEST ALONG SAID LINE, 77.24 FEET TO THE POINT OF BEGINNING.
EXCEPTING THEREFROM THAT PORTION DEDICATED TO THE CITY OF TIGARD FOR ROAD AND STREET
PURPOSES BY DEDICATION DEED RECORDED SEPTEMBER 13, 2012 AS RECORDING NO. 2012-076047.
First American Title
CERTIFICATE OF NON FOREIGN STATUS
Section 1445 of the Internal Revenue Code provides that a transferee(buyer) of a U.S.
real property interest must withhold tax if the transferor(seller) is a foreign person. To
inform City Center Development Agency, an ORS 457 urban renewal agency
(the"Transferee")that withholding of tax is not required upon the disposition of a U.S.
real property interest by the City of Tigard
(the "Transferor"),the undersigned hereby certifies the following on behalf of the
Transferor:
1. That the Transferor is the owner of the following described property, to wit:
Block: Lot: 2000,2100 County: Washington
Premises: 12533, 12535, 12537 Sw Main St,Tigard OR 97224
2. The Transferor is not a non-resident alien for purposes of the U.S. income taxation(as
such term is defined in the Internal Revenue Code and Income Tax Regulations).
3. The Transferor's U.S.taxpayer identification number(Social Security Number) is
93-0503940
4. The Transferor's address is
13125 SW Hall Blvd
Tigard Or 97223
5. The Transferor understands that this certification 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 THAT I HAVE
AUTHORITY TO SIGN THIS DOCUMENT ON BEHALF OF THE TRANSFEROR.
DATED: I Z/Iq /7o fr
BY:
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