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Resolution 07-02 i • TIGARD WATER DISTRICT, OREGON TIGARD WATER DISTRICT BOARD RESOLUTION NO. 07- o Z.. A RESOLUTION AUTHORIZING THE TIGARD WATER DISTRICT'S REPRESENTATIVE TO THE INTERGOVERNMENTAL WATER BOARD TO VOTE ON AND APPROVE THE FIRST AMENDMENT TO THE INTERGOVERNMENTAL AGREEMENT DATED 12/23/1993, TO EXECUTE THE TENANTS IN COMMON AGREEMENTS FOR THE WATER BUILDING PROPERTY AND THE CANTERBURY PROPERTY, AND TO EXECUTE THE BARGAIN AND SALE DEEDS FOR THE CANTERBURY PROPERTY AND WATER BUILDING PROPERTY FROM TIGARD WATER DISTRICT TO INTERGOVERNMENTAL WATER BOARD MEMBER JURISDICTIONS AS TENANTS IN COMMON. WHEREAS, in December 1993 the City of Tigard, City of King City, and the City of Durham withdrew from the original Tigard Water District; and WHEREAS, a remnant of the Tigard Water District, now only representing portions of the unincorporated area to the west and south of Tigard, along with the City of Tigard, City of King City, and the City of Durham formed the Intergovernmental Water Board and entered into an Intergovernmental Agreement for the delivery of water service in December 1993;and WHEREAS, the Tigard Water District is currently the owner of record of the Canterbury Property located at 10310 SW Canterbury Lane in Tigard, Oregon, and of the Water Building at 8777 SW Burnham Street in Tigard,Oregon; and WHEREAS, the Intergovernmental Water Board has determined the need to amend the Intergovernmental Agreement in order to implement recent Board decisions;and WHEREAS, based on the December 1993 Intergovernmental Agreement, the Intergovernmental Water Board has agreed to take ownership of the Water Building Property and the Canterbury Property as Tenants In Common;and WHEREAS,the Tigard Water District as a member of the Intergovernmental Water Board must vote on and approve the amendment to the Intergovernmental Agreement,vote to execute the Bargain and Sale Deeds to the Canterbury Property and the Water Building Property,and to execute the Tenants In Common Agreements for the Water Building Property and Canterbury Property. NOW,THEREFORE,BE IT RESOLVED by the Tigard Water District that: SECTION 1: The Tigard Water District approves the amendments to the Intergovernmental Agreement and authorizes its representative to the Intergovernmental Water Board to vet -far- execute the approval of the amendment to the Intergovernmental Agreement. RESOLUTION NO.07-t?.�, � ��` �`� `� L21 Page 1 ac-fc� ,A), ©-7—offl� • SECTION 2: The Tigard Water District authorizes its representative to the Intergovernmental Water Board to execute the Bargain and Sale Deeds transferring ownership of the Canterbury Property and the Water Building Property to the Intergovernmental Water Board as Tenants In Common. SECI1ON 3: The Tigard Water District authorizes its representative to the Intergovernmental Water Board to execute the Tenants In Common Agreements for the Water Building Property and the Canterbury Property. SECIION 4: This resolution is effective immediately upon passage. PASSED: This day of 2007. i_ _ _ Ch.• on, Tig. ; ater District Al'1EST: Tigard Water District Recording Secretary RESOLUTION NO.07-0-2, Page 2 FIRST AMENDMENT TO INTERGOVERNMENTAL AGREEMENT BETWEEN THE CITY OF TIGARD AND THE TIGARD WATER DISTRICT FOR DELIVERY OF WATER SERVICE TO TERRITORY WITHIN THE DISTRICT BOUNDARIES THIS FIRST AMENDMENT TO THIS INTERGOVERNMENTAL AGREEMENT (this "Amendment") is made and entered into as of , 2007, by and between the CITY OF TIGARD, an Oregon municipal corporation, (hereinafter "Tigard") and the Tigard Water District, a domestic water supply district existing under ORS Ch. 264, (hereinafter "District"), referred to herein as "the Parties". RECITALS A. The Parties previously entered into that certain INTERGOVERNMENTAL AGREEMENT BETWEEN THE CITY OF TIGARD AND THE TIGARD WATER DISTRICT FOR DELIVERY OF WATER SERVICE TO TERRITORY WITHIN THE DISTRICT BOUNDARIES dated December 23, 1993 (the "IGA") relating to the Parties' creation of the Intergovernmental Water Board (hereinafter "IWB") and the cooperative effort to serve the long term water supply needs of the residents in the original District. B. The Parties hereto desire to amend the IGA: to further ensure consistency across the jurisdictions among rates and services, to clarify the IWB votes required to change ownership of original District assets, to memorialize a new lease between the IWB and the City of Tigard for the Water Building, to establish a process for calculating and recording prorated expenses and revenues, and to allow the IWB to use proceeds from sales of assets for expenses in addition to capital improvements. AGREEMENT NOW THEREFORE, in consideration of the terms and conditions contained herein, the receipt and adequacy of which are hereby acknowledged, the Parties hereby amend the IGA as follows: 1. Paragraph 5. Asset Ownership/Water Rates/Revenues , B., is replaced with the following: First Amendment to the Intergovernmental Agreement City of Tigard/Tigard Water District Page 1 of 4 B. The fees, rates and charges charged by Tigard for providing water services to properties, residences and businesses in the District shall be the same as those charged within Tigard, and rates shall be consistent among those receiving water services from Tigard under this IGA. Notwithstanding the foregoing, Tigard may impose higher fees, rates and charges for providing water service to properties, residences and businesses when the cost of providing such service is greater due to unusual circumstances, including, but not limited to additional cost to pump water up hill to reach customers. Any higher fees, rates and charges imposed for providing water service shall be reviewed by the Intergovernmental Water Board prior to taking effect and shall be limited to covering the actual additional costs of providing such service. When higher fees, rates and charges are imposed, they shall be consistently applied among all member jurisdictions, except that at the request of the District, Tigard will collect on behalf of the District additional charges imposed by the District on District customers. 2. Paragraph 5. Asset Ownership/Water Rates/Revenues C. (2) Moneys/Revenues, is replaced with the following: (2) Moneys transferred to Tigard as a result of the division of assets after withdrawal from the original District by Tigard which were previously dedicated by the original District to system capital improvements shall be used solely for system capital improvement by Tigard in accordance with subsection 5.D, except that the Intergovernmental Water Board may at its discretion, and consistent with voting requirements in Paragraph 3.D. of this Intergovernmental Agreement, determine that said moneys may be used for other purposes. 3. Paragraph 5, Asset Ownership/Water Rates/Revenues, G. Accounting, is added to as follows: (3) In fulfillment of the Intergovernmental Agreement's intent to reliably and methodically account for expenses and revenues, Exhibit A showing allocation of ownership interests is attached hereto and incorporated thereby as the model for documenting the use of assets by the City of Tigard. 4. Paragraph 3. Intergovernmental Water Board. D., is replaced as follows: D. A quorum of the Board shall be three (3) members. All actions of the board shall require at least three (3) votes, excluding abstentions. First Amendment to the Intergovernmental Agreement City of Tigard/Tigard Water District Page 2 of 4 E. Notwithstanding prior agreements, no more than three (3) jurisdictions'votes (from among Tigard, Durham, King City and the Tigard Water District) will be required to purchase, sell, or otherwise act with respect to the original District's real property assets. By: IWB Representative for the City of Tigard CERTIFICATE OF NOTARY PUBLIC STATE OF OREGON COUNTY OF Signed or attested before me on ,2007,by Signature of Notarial Officer First Amendment to the Intergovernmental Agreement City of Tigard/Tigard Water District Page 3 of 4 44u, By: IWB Representative for the Tigard Water District CERTIFICATE OF NOTARY PUBLIC STATE OF OREG.OplL COUNTY OF ruiLIJ 4_ (t / Signed or attested before me on SL L 1 2.5Ci,2007,by ear te//Liu) OFFICIAL SEAL Signature Notarial Officer y, �� �1 :: GREER A GASTON �SA NOTARY PUBLIC-OREGON Z, COMMISSION NO.373020 MY COMMISSION EXPIRES OCT.10,2007 First Amendment to the Intergovernmental Agreement City of Tigard/Tigard Water District Page 4 of 4 EXHIBIT A AMENDMENT TO INTERGOVERNMENTAL AGREEMENT BETWEEN CITY OF TIGARD AND TIGARD WATER DISTRICT EEECONOMIC AND ENGINEERING SERVICES, INC. \ '4380 S W Macadam Avenue,Suite 365 Portland.OR 972131 (50 )223.3033•FAX(503)274-6248 EXHIBIT A FIRST AMENDMENT TO INTERGOVERNMENTAL AGREEMENT BETWEEN THE CITY OF TIGARD AND THE TIGARD WATER DISTRICT Letter Verifying System Asset and Liability Allocations from EES Final Report • November 1, 1994 Ms.Beverly Froude Tigard Water District 8777 S.W. Burnham Street Tigard,OR 97223 Dear Ms.Froude: Enclosed please find Economic and Engineering Services, Inc.'s (EES's) final report of system asset and liahil llocations prepared for the Tigard Water District(District). • The total of assets equals the total of liabilities. This total amount is $25,620,938 and is allocated as follows: Tigard Water District $5,394,464 (21.05%) City of Tigard 17,997,978 (70.25%) City of Durham 1,044,091 (4.08%) • City of King City 1,184,406 (4.62%) • This report and the allocations have been adopted by resolutions passed by each jurisdiction. Copies of the fbur resolutions are bound into this final report, immediately after this letter. Very truly yours, P"opi- `� R � ECONOMIC AND ENGINEERING 42 ` SERVICES,INC. • • 7 _ • Gilb G'jgs ��kT R. ��\� Project t Man rt m �e ager GRMpp , , ani -pot54, Gc Olympia.WA Bellevue.WA Vancouver.B.0 Porlland,OR Washington.D.0 EXHIBIT A FIRST AMENDMENT TO INTERGOVERNMENTAL AGREEMENT BETWEEN THE CITY OF TIGARD AND THE TIGARD WATER DISTRICT City of Tigard Analysis of Proportionate Interest Allocations Updated from Tigard Water District System Assets and Liabilities Final Report- November 1994 Allocation Basis Real Market Consumption* Value** Meters*** (A) (B) (C) District 641,523 880,511,030 3,671 Tigard 2,093,982 2,822,340,560 12,196 King City 130,395 201,727,000 1,238 Durham 74,115 116,051,350 358 2,940,015 4,020,629,940 17,463 Proportionate Interests Proportionate Change From Interests Original District 21.82% 21.90% 21.02% 21.58% 3.99% Tigard 71.22% 70.20% 69.84% 70.42% -2.96% King City 4.44% 5.02% 7.09% 5.51% -1.20% Durham 2.52% 2.89% 2.05% 2.49% 0.18% 100.00% 100.00% I 100.00% 100.00% 0.00% "Other Assets"Percentages For Allocations District Tigard King City Durham District, Tigard, King City 22.13% 72.22% ; 5.65% 0.00% 100.00% District, Tigard 23.46% 76.54% 0.00% 0.00% 100.00% Tigard, Durham 0.00% 96.59% 0.00% 3.41% 100.00% * Annual consumption from November 1, 2005 through October 31, 2006 **Real Market Value(RMV) Updated as of November 7,2006 ***Meter count updated as of October 31, 2006 r tae 0 C TWD Study Analysis.xls 6/5/20072:47 PM EXHIBIT A FIRST AMENDMENT TO INTERGOVERNMENTAL AGREEMENT BETWEEN THE CITY OF TIGARD AND THE TIGARD WATER DISTRICT CITY OF TIGARD, OREGON RESOLUTION NO. 14a A RESOLUTION OF THE CITY COUNCIL, CITY OF TIGARD, OREGON, TO ADOPT THE TIGARD WATER DISTRICT SYSTEM ASSETS AND LIABILITY REPORT AS REVISED BY THE INTERGOVERNMENTAL WATER BOARD (IWB) WHEREAS, the Tigard Water District, in accordance with Section 4 of the Intergovernmental Agreement (hereinafter "Agreement") between the City of Tigard and the Tigard Water District for Delivery of Water Service to Territories Within the District Boundaries has caused preparation of a System Assets and Liability Report; and WHEREAS, the Tigard Water District accepted the report with amendments on September 12, 1994; and WHEREAS, the Intergovernmental Water Board reviewed the Tigard - Water District's actions and further amendments as proposed by • • Tigard Water District and its consultants, Economic & Engineering Services, Inc. , and unanimously voted. to recommend that the cities of Durham, King City, and Tigard formally adopt the plan; and WHEREAS, the City of Tigard acknowledges that it has reviewed the report and amendments and finds its contents to be consistent with the direction given to the IWB participants within Section 4 of the Agreement; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF TIGARD THAT: SECTION 1: The conclusions contained within the Tigard Water District System Assets and Liability Report as revised by the Intergovernmental Water Board (IWB) are accepted and adopted. PASSED: By taarrirninC0 vote of all Council members present after beingread by number and title only, this c2-7 -41 day of 4_•r • , 1994. • . -thy Wheatle ity corder APPROVED: This c7*day of ,.,fes� J Schwartz, -Mayor �7' Approved as to form: `74 ,om/ City Attorn Date: 91,27-(fc warn eh\90024V wa t erb.re I marmommerimmm �An1n11 A FIRST AMENDMENT TO INTERGOVERNMENTAL AGREEMENT BETWEEN THE CITY OF TIGARD AND THE TIGARD WATER DISTRICT •- :: .4. ._:;:DivisiOn:'of'3-tOrig nal--District . . -. • - - moi. - - _ - E,' - - . ,,._,. :'i;. �22' '54b(4) ,:the`:Di.strict':ag -ees"•that -the - -`,'', of:: as'sets:rafter: w- the r;awal.;freiu'; t e_original. District by -.-'the-``!Cities•°�shaill.°-: be::c0:i..0 to it .04 the f ollow ng-.concepts (1.)- :-Assets_.'>lnc.1ude;`;real;- pers:onal.:and .intangible property. .� - .1=rlta-ngi-bYe':pr.dper'ty- iriclxides but is not limited -to: moneys, checks, drafts., -depos'its, interest, dividends and income. (2) Assets will be divided into two groups: - a. System Assets: Assets necessary for the operation of Tigard's water supply system throughout the original District, not.including those "other assets" of Tigard. m personal and intangible property are system assets. n -Water: ,mains, .. ,_service . installations, structures, m -•::.1:- faCi1_ities, improvements.o'r. .ot.her- property necessary ,for v, - operation.;o ,the 'City{ o'f:;Tigard's .:water supply system • m y al. lflstr ctt:are.-<s stem assets. -i 5n �''E:'�thrgugY_iol�.�;.tl`.re'=:or�.�gS1_ _ - �- _ �Y= 1 - -- • �. 7y ;b. : :other,`.;Assets: _ .`.Assets t not necessary •for • the . „ �`operatip ;af°,;tlie,:Cil y.:sof, Tigard's ,Mater supply system d z - :'througihcut_•-':--V}�}.•,e ;ppr .g a°1 Dist{ ct•- ;•�Otlier :'assets shall ti -•'-'::i::‘-'-*_:':--;; *\J ecome:-thef,'pr petty-'¢.f. he:,_:.jurisdiction•;. n :.Which.-th-e. Pz /z F1asset s...;locat°ed» later 4444'11M :!ser,vice ::installations, = O • structure's•;=: aci3itis:;` " fnpo�veYa�ents .;or .other prz5perty 0 MI ~. :,riot necessary.•.fort::tl e._opieration:_of_ the; City of Tigard's .r - -- water:,.supply.;system_ throughout:.the _:origin al District are '5• 3 -'':other:;as_sets. - - • - = m :.`B. .A3.1 system assets and other assets shall be pledged by 9. 4 c ar the .Cities and the District to Tigard.- All system assets and other a assets shall be managed by Tigard and shall be utilized by Tigard , n in order to provide water services to properties, residences and businesses in the original District. in t/1 C. Should one of the Cities or the District terminate its Z water service agreement with Tigard, the Cities' and the District's • proportionate interest in a system asset shall be determined based . upon the following formula: • • j - '.3:urisdic •op:':s ..Proportionate Interest = •{A- + B + C) /3 • - :;A = ,-Juer%sdiction',s:.Fercentage.of Current Consumption in - - .t..•' , , :..'it..;o . 4 •in li i1.47 1'1-4Ct • - . f• i"' .. • ..t . 4� - �..{'•tr_ (t� t-t C3°•.:i•'i.:- i>` i_I�f•.t_;t;� •,- 'sdi:cti`�.n :'_s-'ff.:ae=ifia�(e;.;of... -,Current . ea•1 :Market_ :4 t�•t,..t. '_"-..j_.' -:`--• f!:.`tt:�_'i-�7.It.-"!(s• - - - �i•.�•,:4:y7,.... _ ,.. `.!';' t` a� ue:i In,1_o 4:•i.ia?:,P.#'.ct'; . C = Jurisdiction's Percentage of •Current Meters in original District . r . . •. 'The Cities' and_the District's proportionate interest in a system :asset captal.'improyemeart shall be based upon the capital • • -improvement'.s. aepre:i:ated•:�va]:iue:_.` :The depreciated value shall- be bas ' ed ..ui ' pari!):t i.P...- sefu].,_-:1?fe,:'of_. ;the `:capital improvement under ..general :y :accepte4-• �ac;counting• princililes--using a- -straight line �[ethot :Pt-tested a•,tIb i. - ;-,-r; - . 'L' ,. fa••i•..'' C;:!. `I'`-4P`':��:t' •.'t'-t E'r -••l .. t. ' ' =!-;••••:.Y,- ::r:t a� 1 t F`a .a • A_ reement,`_!::t er ;:assets Gall. - - -:i`- :fib: �poi�.;tetm� t�'on;; ..�-:t�?�5: �..... �O�i: .h become":':# ie I -rope ;ty.;••:of< t3 e-`.0irXsdietiof ,M.:!which .the: :asset a.s - TENANCY IN COMMON AGREEMENT THIS AGREEMENT is made and effective the day of , by CITY OF TIGARD ("Owner"), CITY OF DURHAM ("Owner"), CITY OF KING CITY, ("Owner"), and TIGARD WATER DISTRICT, ("Owner"), collectively known as the INTERGOVERNMENTAL WATER BOARD (IWB), and hereinafter referred to as the "Owners". WHEREAS, the ownership of the Canterbury Property was vested in the Tigard Water District (TWD) as a single entity; and is now owned by the City of Tigard, city of King City, City of Durham, and the Tigard Water District as Tenants In Common; and WHEREAS, the IWB and its,member jurisdictions desires to provide for the management and control of the Property; and WHEREAS, on April 11, 2007, the IWB adopted Resolution 07-02, recommending to the Tigard City Council that a portion of the Canterbury property be declared surplus; and WHEREAS, the City of Tigard has expressed an interest in purchasing the surplus property for use as a public park; and WHEREAS, the Owners of the Canterbury Property have determined that the preferred disposition of the surplus Canterbury Property is that it should be sold under the conditions set forth in IWB Resolution 07-02. The Owners agree as follows: 1. Acquisition of Property. The Owners have acquired certain real and personal property commonly known as THE CANTERBURY PROPERTY, located at 10310 SW Canterbury Lane, .Tigard, Oregon, and more particularly described as Exhibit A attached hereto and incorporated by this reference(the "Property"). 2. Co-Tenancy. The Property has been improved with two (2) reservoirs and a storage building. The intent of the Owners is to enter into a sale agreement with CITY OF TIGARD to purchase a portion of the Property ("Park Property") for use as a public park and to continue in ownership of the balance of the Property as Co-Tenants. 3. Business Name. The business of the co-tenancy shall be conducted under the name "INTERGOVERNMENTAL WATER BOARD (IWB)". An application for registration of a fictitious business name shall be filed and published as provided by law. Page 1 of 10—Canterbury Property Tenancy In Common Agreement 4. Declaration of Ownership. The owners as described intend that their relationship with respect to the Property shall be a tenancy in common. The Owners intend that no provision of this Tenancy In Common Agreement shall be construed as establishing a partnership, joint venture, or any other-form of business entity. 5. Ownership Interest. The names of the Owners and their percentage of undivided interests in the Property are currently as follows: Name Percentage Ownership City of Tigard 70% Tigard Water District 22% City of King City - 5.5% City of Durham 2.5% The Property has been acquired by the co-tenancy. The Owners shall be responsible for payment of all financial obligations of the co-tenancy in the proportion of their ownership interests. Every twenty-four (24) months, and at the time of any sale of the Property, the ownership proportions shall be adjusted to reflect population changes as a result of annexation, and Owners will execute a new deed to reflect the changes. 6. Expenses. Until the sale of the surplus portion of the Property, the expenses incurred with respect to the Property shall be the obligation of the Owners. Anticipated expenses include, but are not limited to: cost of repairs, maintenance, debt service, taxes, assessments, insurance and property management, and as provided for in the Intergovernmental Agreements. In the event of a conflict between or among the agreements with respect to this Tenancy In Common Agreement, this Agreement will prevail. Periodically, the Owners shall determine the extent, if any, of additional funds necessary to provide for the payment of expenses. Each Owner shall pay a portion of the amount necessary to pay expenses equal to the Owner's undivided interests in the Property. Payment shall be made within thirty (30) days for receipt by the Owner of notice of the amount due. 7. Improvements. In the event the Owners shall further improve the Property, each Owner shall be obligated for the costs of such improvements in an amount proportionate to the Owner's undivided interest in the Property. The Owners shall determine whether to assess the cotenants for the amount required for said improvements, or to fmance said amount as a joint debt of the Page 2 of 10—Canterbury Property Tenancy In Common Agreement cotenants. In the event an assessment is made, payment shall be made within thirty (30) days of receipt by the Owner of notice of the amount due. 8. Default. In the event an Owner shall fail to pay his or her obligations within the time prescribed above in the amount due under the terms of this Agreement, the undivided interest of the nonpaying Owner shall be subject to a lien in the amount of the deficiency. The provisions of Section 18 of this Agreement relating to liens shall be applicable to an unpaid obligation of an Owner. 9. Revenue, Expenses and Deductions. Subject to Section 12, the revenues, expenses and deductions from the operation and any sale of the Property shall be shared by the Owners in proportion to their respective undivided interest in the Property. 10. Disbursements. The Owner shall determine if funds are available for disbursement from the operations of the Property and shall direct the Manager hereinafter described to pay said amounts to the Owners in proportion to their respective undivided interests in the Property, subject to the provisions of the Lease and the Intergovernmental Agreement. 11. Proceeds from Sale or Refinance. Proceeds received from any sale or refmancing of the Property, or from the condemnation or destruction of the Property, to the extent that the proceeds are not needed for debt service, anticipated expenses, and reasonable reserves for contingencies as determined by the Owners, shall be retained by the IWB as reserves for capital projects. Notwithstanding the foregoing, the Owners may determine to use part or all of said proceeds to reduce or repay any mortgage indebtedness, contract, or other liability incurred in connection with the Property. 12. Management. The Owners have each engaged the CITY OF TIGARD ("Tigard") to manage the Property under terms and conditions contained in the Intergovernmental Agreement. The Owners agree that Tigard may enter into a separate off-site management agreement with a management company of Tigard's choice as it may approve, for management of the Property. 13. Duties of Property Manager. The City of Tigard shall be responsible for performance of all services and duties as set forth in the Intergovernmental Agreement. None of the Owners, their agents or representatives, shall be entitled to any compensation for management or other services rendered to or for the Property unless such compensation is expressly authorized by the Owners, and subject to the Lease, and Intergovernmental Agreement. 14. Allocation of Purchase Price on Sale or Other Distribution of Property. The allocation of the purchase price received for any sale of the Property as between real property, improvements and personal property, shall be determined by the IWB and the accountant for the co-tenancy, in consultation with the Owners, who shall be bound by said determination. Page 3 of 10—Canterbury Property Tenancy In Common Agreement 15. Liens and Encumbrances. Any lien or encumbrance on an Owner's undivided interest in the Property, including but not Iimited to, any judicial attachment, any judgment lien, any lien arising out of the order or judgment of any court, any lien in connection with taxes claim due any governmental unit, any lien arising under federal or state bankruptcy or insolvency laws, and any lien arising from non-payment by an Owner of amounts pursuant to the terms of this Agreement, shall be discharged by said Owner, and the undivided interest released, within ten (10)days after the lien is filed or otherwise becomes effective. Failure to discharge the lien and obtain release of the undivided interest within the stated time shall constitute a default of this Agreement. During the term of the default, interest shall accrue on any unpaid balance due the co-tenancy at the rate of ten percent (10%) per annum. All amounts due, plus interest thereon, shall be immediately due and payable without.further demand and notice. In addition to the foregoing, the remaining Owners may agree to revoke the right of the defaulting Owner to vote and manage the affairs of the co-tenancy. Any cash distributions which may become payable to a defaulting Owner shall be reduced by the outstanding amounts due plus interest thereon. The remaining Owners shall have the right, but not the obligation, to pay the deficient amount and to obtain release of the lien and to receive reimbursement for the amount of the deficiency plus interest as provided above, from any cash distributions which may become payable to the defaulting Owner. 16. Bonding of Liens. An Owner whose interest in the Property is subject to a lien may, within thirty (30) days after the lien is filed or otherwise becomes effective, deposit with the remaining Owner's cash, a corporate surety bond, or other security satisfactory to the remaining Owners, in an amount sufficient to discharge the lien and all costs, attorney's fees and other charges which could accrue as a result of a foreclosure or sale under the lien. Upon making said deposit, the Owner shall not be considered in default of this Agreement. 17. Waiver of Right of Partition. Each Owner irrevocably waives the right to directly or indirectly maintain an action or petition in any court for a partition of the Property. 18. Restrictions on Sale of the Owner's Interest. An Owner may sell, convey or transfer the Owner's undivided interest in the Property only in compliance with the terms of Section 18 herein, and the Intergovernmental Agreement. Upon the withdrawal of an Owner from the IWB, the remaining Owners shall have authority to act on behalf of the withdrawn Owner with respect to the Property. Any sale of a portion of the interest of an IWB member jurisdiction must be to another member jurisdiction or to the IWB as a group. 18.1 Sale. An Owner may sell, convey or transfer its interest only to another Owner or Owners. 18.2 Price. The selling price of the Property shall be established through an appraisal performed by an appraisal company highly experienced in valuation of properties similar to the Canterbury Property and selected by the mutual agreement of Seller and Purchaser, except the Page 4 of 10—Canterbury Property Tenancy In Common Agreement value of the improvements on the Property, which shall be valued according to the System Assets and Liabilities Final Report (Section II, Utility Plant in Service) prepared by Economic and Engineering Services, Inc. dated November 1994. 19. Sale of the Park Property. The Owners may sell the Park Property upon an affirmative vote of three (3) out of four (4) of the representative Owner jurisdictions and the net proceeds distributed under the terms of Section 11 above. 20. Right of First Refusal. No Owner/Landlord of the Property shall sell or transfer the Owner's/Landlords undivided interest in the Property except as set forth herein. In the event that three (3) out of four (4) of the representativejurisdiction Owners vote to sell the Canterbury Property, the City of Tigard shall have the Right of First Refusal. Within 30 days of notification to Tenant that the Property will be sold, Tenant shall notify Owner of the intent to exercise the right to purchase the Property. Within 30 days of Tenant's notification to Landlord, the City of Tigard shall determine the Canterbury Property improvement value as set forth in the System Assets and Liabilities Final Report (Section II, Utility Plant in Service) prepared by Economic and Engineering Services, Inc. dated November 11994, and order an appraisal of the land to be performed by an appraisal company highly experienced in valuation of land similar to the Property and agreed upon by seller and purchaser. Within 30 days of receiving the determination of value of the Property,the sale shall be closed. 21. Required Vote for Determinations. All determinations to be made by the Owners under the terms of this Agreement, other than sale of the Property, shall be by majority vote of the five (5)members of the IWB. Unless specifically provided otherwise, an affirmative vote of three or more of the IWB members shall be required for any action to be taken, any determinations to be made, or any authorizations to be given by the Owners under the terms of this Agreement. 22. Manner of Voting. All determinations to be made by the Owners shall be made at meetings or by telephone conferences. However, the Owners may make determinations without a meeting or telephone conference by obtaining the signed, written vote of each Owner. 23. Events of Termination. The co-tenancy Agreement shall continue until terminated by the occurrence of one of the following events: the sale of the Property, the majority agreement of the Owners to terminate this Agreement, or the majority Agreement of the Owners to divide and separate the Property among themselves. 24. Effect on Obligations. Termination shall not affect the rights or obligations of the Owners which arise prior to the termination. 25. Notices. All notices will be in writing and delivered by mail or in person to each Owner. Page 5 of 10—Canterbury Property Tenancy In Common Agreement 26. Attorney Fees. In the event of suit, action or arbitration to interpret or enforce any of the terms of this Agreement, including any action under the Bankruptcy laws of the United States, the prevailing party or parties shall be awarded such sum as the court or arbitrator may adjudge reasonable as attorney fees in such suit, action or arbitration and in any appeal or review therefrom. 27. Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of each of the'Owners, their respective heirs, executors, administrators, legal representatives, successors and assigns. 28. Amendment. This Agreement may be'amended at any time by the Owners in the same manner as they make any other determination under Sections 21 and 22 of this Agreement. 29. Integration. This Agreement contains the entire Agreement of the Owners and supercedes all prior and contemporaneous agreements between them with respect to the co- tenancy. Except as fully set forth herein, there are no presentations, agreements, or understandings, oral or written, among the Owners relating to the co-tenancy, except for the Intergovernmental Agreements, and the Lease. 30. Severability. If any term or provision of this Agreement shall to any extent be invalid or unenforceable, the remainder of this Agreement shall not be affected thereby, and each term or provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 31. Governing Law. This Agreement shall be subject to, and governed by, the laws of the State of Oregon. The parties have executed this agreement as of the date first written above. Page 6 of 10—Canterbury Property Tenancy In Common Agreement By: IWB Representative for the City of Tigard CERTIFICATE OF NOTARY PUBLIC STATE OF OREGON COUNTY OF Signed or attested before me on ,2007,by Signature of Notarial Officer Page 7 of 10— Canterbury Property Tenancy In Common Agreement By:Y IWB Representative for the Tigard Water District CERTIFICATE OF NOTARY PUBLIC STATE OF OREGON , COUNTY OF 1440,911 n G Signed or attested before me on JUJU—1Le_ Z 5 ,2007,by L7 eO'i2 . VILA 0 Signnattuur of Notarial Office ""a' OFFICIAL SEAL C�., ),� /,7-7.1, r .4,r:.r�a GREER A GASTON r' .1 NOTARY PUBLIC-OREGON COMMISSION NO.373020 MY COMMISSION EXPIRES OCT.10,2007 Page 8 of 10—Canterbury Property Tenancy In Common Agreement By: IWB Representative for the City of Durham CERTIFICATE OF NOTARY PUBLIC STATE OF OREGON COUNTY OF Signed or attested before me on ,2007,by Signature of Notarial Officer Page 9 of 10—Canterbury Property Tenancy In Common Agreement By: IWB Representative for the City of King City CERTIFICATE OF NOTARY PUBLIC STATE OF OREGON COUNTY OF Signed or attested before me on ,2007,by Signature of Notarial Officer Page 10 of 10—Canterbury Property Tenancy In Common Agreement EXHIBIT A CANTERBURY PROPERTY TENANTS IN COMMON AGREEMENT LEGAL DESCRIPTION OF PROPERTY . Begin g .st the„4,#)prest oorner of'Lot 5,•_R` 4gtrdvil1e Heights a subdivision of rocor$ in. 'Seaton 1]. run ihhip 2 4404 Range 1 Weft oicthe ifilig4ette }deridian, in Washington 0' 4:.° h•I .?-.3:9:!•gleat► alio the West,line of •said 3”*,_ .v .°ion - :fa-�t to.:.the..:$.ou i.Otit?: a ar.-.of•Lot.5.,.ther1g0.�1at.gp .: .3e.,,So <th-.. apt . . 26), .feed theaoe•North and.parallel lirith the'Weet lino of said lot 165 feet to the' North �.ine,thereof; .thence'West 264 feet to the place of beginning; Together with an easement over the followi.ng• •described tract of lel; Aegi..r.' 4V:404,--Np3 heaat corner of the above-4ssi� bed. property; thence EaattafalonL tbx# • oa'i' Tigardvill.e.Haig� s” to the center..44 ?iuidock Avenge, thopco_ 5oiiiih',4:ong..seid�a'ei'►tar'li k- -distenbe or.. .riO'Ot,<�ttrenoa tat and pora'7.re.-4- t�;the' •Nort#uline of'Lot 5,•to_the_.East line ox:the=h"briv* dleocribed tract of 3.und, thence North a.distanoe of 12 feet to the' place of beginning:- TENANCY IN COMMON AGREEMENT THIS AGREEMENT is made and effective the day of , by CITY OF TIGARD ("Owner"), CITY OF DURHAM ("Owner"), CITY OF KING CITY, ("Owner"), and TIGARD WATER DISTRICT, ("Owner"), collectively known as the INTERGOVERNMENTAL WATER BOARD(IWB),and hereinafter referred to as the"Owners".The Owners agree as follows: WHEREAS, the ownership of the Water Building and associated real property (Water Building Property) was vested in the Tigard Water District (TWD) as a single entity and is now owned by City of Tigard,City of King City,City ofDurham and Tigard Water District as Tenants In Common; and • WHEREAS,the IWB and its member jurisdictions desire to provide for the management and control of the Property; and WHEREAS,the Water Building Property is suitable and has been used for water operations,City of Tigard offices,and IWB and TWD meetings; and WHEREAS, the Owners of the Water Building Property have determined that the preferred disposition of the Water Building property is to lease it to the City of Tigard for use in water operations, as city offices and other related activities. The Owners agree as follows: - 1. Acquisition of Property. The Owners have acquired certain real and personal property commonly known as THE WATER BUILDING, located at 8777 SW Burnham Street, Tigard, Oregon, and more particularly described as Exhibit A attached hereto and incorporated by this reference(the "Property"). 2. Co-Tenancy. The Property has been improved as the Water Building,a building suitable for water operations,city offices and related activities.The intent of the Owners is to enter into a Lease with the CITY OF TIGARD and to manage and control the Property as Co-Tenants through this Agreement. 3. Business Name. The business of the co-tenancy shall be conducted under the name "INTERGOVERNMENTAL WATER BOARD (IWB)". An application for registration of a fictitious business name shall be filed and published as provided by law. 4. Declaration of Ownership. The owners as described intend that their relationship with respect to the Property shall be a tenancy in common. The Owners intend that no provision of this Tenancy In Common Agreement shall be construed as establishing a partnership,joint+veiiture, or any other form of business entity. Page 1 of 10—Water Building Tenancy In Common Agreement 5. Ownership Interest. The names of the Owners and their percentage of undivided interests in the Property are currently as follows: Name Percentage Ownership City of Tigard 70% Tigard WaterDistrict 22% City of King City 5.5% City of Durham 2.5% The Property has been acquired by the co-tenancy. The Owners shall be responsible for payment of all financial obligations of the co-tenancy in the proportion of their ownership interests. Every twenty-four(24)months and at the time of the sale of the Property,the ownership proportions shall be adjusted to reflect population changes as a result of annexation,and Owners will execute a new deed to reflect the changes. 6. Expenses. The expenses incurred with respect to the Property shall be the obligation of the Owners. Anticipated expenses include, but are not limited to: cost of repairs, maintenance, debt service, taxes, assessments, insurance and property management, and as provided for in the Intergovernmental Agreements. In the event of a conflict between or among the agreements with respect to this Tenancy In Common, this Agreement will prevail. Periodically, the Owners shall determine the extent,if any, of additional funds necessary to provide for the payment of expenses. Each Owner shall pay a portion of the amount necessary to pay expenses equal to the Owner's undivided interests in the Property. Payment shall be made within thirty(30)days for receipt by the Owner of notice of the amount due. 7. Improvements. In the event the Owners shall further improve the Property,each Owner shall be obligated for the costs of such improvements in an amount proportionate to the Owner's undivided interest in the Property, except as may otherwise be provided for in the Lease. The Owners shall determine whether to assess the cotenants for the amount required for said improvements,or to finance said amount as a joint debt of the cotenants. In the event an assessment is made, payment shall be made within thirty (30) days of receipt by the Owner of notice of the amount due. 8. Default. In the event an Owner shall fail to pay his or her obligations within the time prescribed above in the amount due under the terms of this Agreement,the undivided interest of the nonpaying Owner shall be subject to a lien in the amount of the deficiency. The provisions of Section 18 of this Agreement relating to liens shall be applicable to an unpaid obligation of an Owner. • 9. Revenue. Expenses and Deductions. Subject to Section 12, the revenues, expenses and Page 2 of 10—Water Building Tenancy In Common Agreement • deductions from the operation and any sale of the Property shall be shared by the Owners in proportion to their respective undivided interest in the Property. 10. Disbursements: The Owner shall determine if funds are available for disbursement from the operations of the Property and shall direct the Manager hereinafter described to pay said amounts to the Owners in proportion to their respective undivided interests in the Property, subject to the provisions of the Lease and the Intergovernmental Agreement. 11. Proceeds from Sale or Refinance. Proceeds received from any sale or refinancing of the Property,or from the condemnation or destruction of the Property,to the extent that the proceeds are not needed for debt service, anticipated expenses, and reasonable reserves for contingencies as determined by the Owners, shall be retained by the IWB as reserves for capital projects. Notwithstanding the foregoing, the Owners may,determine to use part or all of said proceeds to reduce or repay any mortgage indebtedness, contract, or other liability incurred in connection with the Property. 12. Management. The Owners have each engaged the CITY OF TIGARD("Tigard")to manage the property under terms and conditions contained in the Intergovernmental Agreement and the Water Building Lease. The Owners agree that Tigard may enter into a separate off-site management agreement with a management company of Tigard choice as it may approve, for management of the Property. 13. Duties of Property Manager. The City of Tigard shall be responsible for performance of all services and duties as specified in the Water Building Lease. None of the Owners, their agents or representatives,shall be entitled to any compensation for management or other services rendered to or for the Property unless such compensation is expressly authorized by the Owners, and subject to the Lease, and Intergovernmental Agreement. 14. Allocation ofPurchase Price on Sale or Other Distribution of Pronerty. The allocation of the purchase price received for any sale of the Property as between real property, improvements and personal property, shall be determined by the IWB and the accountant for the co-tenancy, in consultation with the Owners,who shall be bound by said determination. 15. Liens and Encumbrances. Any lien or encumbrance on an Owner's undivided interest in the Property,including but not limited to, any judicial attachment, any judgment lien, any lien arising out of the order or judgment of any court, any lien in connection with taxes claim due any governmental unit, any lien arising under federal or state bankruptcy or insolvency laws, and any lien arising from non-payment by an Owner of amounts pursuant to the terms of this Agreement, shall be discharged by said Owner,and the undivided interest released,within ten(10)days after the lien is filed or otherwise becomes effective. Failure to discharge the lien and obtain release of the undivided interest within the stated time shall constitute a default of this Agreement. During the term of the default,interest shall accrue on any unpaid balance due the co-tenancy at the tate of ten percent (10%) per annum. All amounts due,plus interest thereon, shall be immediatdlY- due and payable without further demand and notice. In addition to the foregoing,the remaining Owners may Page 3 of 10—Water Building Tenancy In Common Agreement • agree to revoke the right of the defaulting Owner to vote and manage the affairs of the co-tenancy. Any cash distributions which may become payable to a defaulting Owner shall be reduced by the outstanding amounts due plus interest thereon. The remaining Owners shall have the right,but not the obligation, to pay the deficient amount and to obtain release of the lien and to receive reimbursement for the amount of the deficiency plus interest as provided above, from any cash distributions which may become payable to the defaulting Owner. 16. Bonding of Liens. An Owner whose interest in the Property is subject to a lien may,within thirty (30) days after the lien is filed or otherwise becomes effective, deposit with the remaining Owners cask a corporate surety bond,or other security satisfactory to the remaining Owners,in an amount sufficient to discharge the lien and all costs, attorney's fees and other charges which could accrue as a result of a foreclosure or sale under the lien. Upon making said deposit,the Owner shall not be considered in default.of this Agreement. 17. Waiver of Right of Partition. Each Owner irrevocably waives the right to directly or indirectly maintain an action or petition in any court for a partition of the Property. 18. Restrictions on Sale of the Owner's Interest. An Owner may sell, convey or transfer the Owner's undivided interest in the Property only in compliance with the terms of this Section 18,the Intergovernmental Agreement,and the Water Building Lease(granting Right of First Refusal to the City of Tigard). Upon the withdrawal of an Owner from the IWB,the remaining Owners shall have authority to act on behalf of the withdrawn Owner with respect to the Property. Any sale of a portion of the interest of an IWB member jurisdiction must be to another member jurisdiction or to the IWB as a group. 18.1 Sale. An Owner may sell, convey or transfer its interest only to another Owner. 18.2 Price. The selling price of the Water Building property shall be established through an appraisal performed by an appraisal company highly experienced in valuation of properties similar to the Water Building Property and selected by the mutual agreement of Seller and Purchaser,except the value of the improvements on the Property,which shall be valued according to the System Assets and Liabilities Final Report (Section II, Utility Plant in Service) prepared by Economic and Engineering Services, Inc. dated November 1994. 19. Right of First Refusal. No Owner/Landlord of the Property shall sell or transfer the Owner's/Landlords undivided interest in the Property except as set forth herein and in the Water Building Lease to the City of Tigard. In the event that three(3)out of four(4)of the representative jurisdiction Owners vote to sell the Water Building Property,the City of Tigard shall have the Right of First Refusal. Within 30 days of notification to Tenant that the Property will be sold,Tenant shall notify Owner of the intent to exercise the right to purchase the Property. Within 30 days of Tenant's notification to Landlord,the City of Tigard shall determine the Canterbury Property improvement value as set forth in the System Assets and Liabilities Final Report (Section II, Utility Plant in Service)prepared by Economic and Engineering Services,Inc.dated November 1994,and order an appraisal of the land to be performed by an appraisal company highly experienced in valuation of Page 4 of 10—Water Building Tenancy In Common Agreement land similar to the Property and agreed upon by seller and purchaser. Within 30 days of receiving the determination of value of the Property, the sale shall be closed. 20. Vote on Sale of Water Building. Subject to the provisions of the Water Building Lease and of this Tenants in Common Agreement Section 18.1.Right of First Refusal,the Owners may sell the Water Building upon an affirmative vote of three (3) out of four(4) of the representative Owner jurisdictions and the net proceeds distributed to the Owners under the terms of Section 11 above. 21. Required Vote for Determinations. All determinations to be made by the Owners under the terms of this Agreement, other than sale of the Property, shall be by majority vote of the five (5) members of the IWB. Unless specifically provided otherwise, an affirmative vote of three or more of the IWB members shall be required for any action to be taken,any determinations to be made, or any authorizations to be given by the Owners under the terms of this Agreement. 22. Manner of Voting. All determinations to be made by the Owners,shall be made at meetings or by telephone conferences. However,the Owners may make determintions without a meeting or telephone conference by obtaining the signed, written vote of each Owner. 23. Events of Termination. The co-tenancy Agreement shall continue until terminated by the occurrence of one of the following events: the salk'of the Property, the majority agreement of the Owners to terminate this Agreement, or the majority Agreement of the Owners to divide and separate the Property among themselves. 24. Effect on Obligations. Termination shall not affect the rights or obligations of the Owners which arise prior to the termination. 25. Notices. All notices will be in writing and delivered by mail or in person to each Owner. 26. Attorney Fees. In the event of suit, action or arbitration to interpret or enforce any of the terms of this Agreement,including any action under the Bankruptcy laws of the United States,the prevailing party or parties shall be awarded such sum as the court or arbitrator may adjudge reasonable as attorney fees in such suit,action or arbitration and in any appeal or review therefrom. 27. Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of each of the Owners,their respective heirs,executors,administrators,legal representatives,successors and assigns. 28. Amendment. This Agreement may be amended at any time by the Owners in the same manner as they make any other determination under Sections 21 and 22 of this Agreement. 29. Integration. This Agreement contains the entire Agreement of the Owners and supercedes all prior and contemporaneous agreements between them with respect to the co-tenancy. 'Except as fully set forth herein, there are no presentations, agreements, or understandings, oral'or written, among the Owners relating to the co-tenancy,except for the Intergovernmental Agreements,and the Page 5 of 10—Water Building Tenancy In Common Agreement Lease. 30. Severability. If any term or provision of this Agreement shall to any extent be invalid or unenforceable, the remainder of this Agreement shall not be affected thereby, and each term or provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 31. Governing Law. This Agreement shall be subject to,and governed by,the laws of the State of Oregon. The parties have executed this agreement as of the date first written above. • Page 6 of 10—Water Building Tenancy In Common Agreement w By: IWB Representative for the City of Tigard CERTIFICATE OF NOTARY PUBLIC STATE OF OREGON COUNTY OF Signed or attested before me on ,2007,by Signature of Notarial Officer Page 7 of 10—Water Building Tenancy In Common Agreement By: /01-‘7 IWB Representati for the Tigard Water District CERTIFICATE OF NOTARY PUBLIC STATE OF OREGON COUNTY OF kra5hi )Cli _ /' Signed or attested before me on .J/,L/LL_ 25- ,2007,by 6 e.Or 01 Signature of Notarial Officer �/ i f OFFICIAL SEAL /TS%, 5 GREEK A GASTON 731, ir NOTARY PUBLIC-OREGON COMMISSION NO.373020 MY COMMISSION EXPIRES OCT.10,2007 Page 8 of 10—Water Building Tenancy In Common Agreement By: IWB Representative for the City of Durham CERTIFICATE OF NOTARY PUBLIC STATE OF OREGON COUNTY OF Signed or attested before me on ,2007,by Signature of Notarial Officer Page 9 of 10—Water Building Tenancy In Common Agreement By: IWB Representative for the City of King City CERTIFICATE OF NOTARY PUBLIC STATE OF OREGON COUNTY OF Signed or attested before me on ,2007,by Signature of Notarial Officer Page 10 of 10—Water Building Tenancy In Common Agreement EXHIBIT A WATER BUILDING TENANTS IN COMMON AGREEMENT LEGAL DESCRIPTION OF PROPERTY DESCRIPTION PARCEL I • A tract of land in Section 2, Township 2 South, Range 1 Vest of the: Willamette Meridian, in the City of Tigard, County of Washington and State of Oregon, described as follows: Beginning at a point of intersection of the Southwesterly right of way line of that certain 50 foot strip of right of way conveyed to the Oregon Electric Railway Company by James R. O'Mara and Mary C. O'Hara, his wife, by deed dated January 4, 1907 and recorded February 16, 1907, on Page 40 of Book 75, Deed Records of Washington County, Oregon, and the nest line of the William Graham Donation Land Claim No. 39, said point being monumented by an iron pipe; thence South 43° 00' West along the west Donation Land Claim line a distance of 354.3 feet, more or less, to the center line of County Road No. 977; thence South 45' 04' East along the center line of said County Load; a distance of 95.75 feet; thence South 0' 21' West a distance of 132.33 feet to a point, said point being monumented by an iron pipe; thence South B9' 41' East, a distance of 365.55 feet to a point in the center line of County load No. 227; thence North 0' 19' East along the center line of County Road No. 221 to a point on the Southwesterly right of way line of the Oregon Electric Railway Company, as aforesaid; thence North 41' 58' West along the South— westerly right of way line ae aforesaid, a distance of 291.63 feet to the point of beginning. PARCEL II A tract of land in Section 2, Township 2 South, Range 1 West of the Willasette Meridian, in the City of Tigard, County of Washington and State of Oregon, described as follows: Beginning at the point of intersection of the Southwesterly right of way line of that certain 50 foot strip of right of way conveyed to Oregon Electric Railway Company by James R. O'Mara and Mary C. O'Mara, his wife, by deed dated January 4, 1907, and recorded February 16, 1901, on Page 40 of Book 75, Deed Records of Washington County, Oregon, and the west line of the William Graham Donation Land Claim No. 39, said point_being monumented by an iron pipe; thence South 43' 00' West along said wast donation laud claim line a distance of 354.3 feet, more or lees, to the center of County Road No. 997; thence North 45' 04' 30" West along the canter line of County Road No. 997, a distance of 241.44 feet; thence North 43' 00' East a distance of 367.75 feat, more or less, to a point on the Page 2 EXHIBIT A WATER BUILDING TENANTS IN COMMON AGREEMENT LEGAL DESCRIPTION OF PROPERTY DESCRIPTION - Continued Southwesterly right of gay line of that corttin 50 foot strip of right of way conveyed to the Oregon Electric.Railway Company by Rudolph Reeniter and S. C. Bunziker, his wife, by deed dated December 13, 1906 and recorded February 16, 1907, on Page 39 of Book 75, Deed Records of Washington County, Oregon, thence South 41' 58' East a distance of 242.25 feet, more or less, along said South- westerly right of way line to the point of beginning. PARCEL III A tract of land in Section 2, Township 2 South, Range 1 Wast of the Willamette Meridian, in the City of Tigard, County of Washington and State of Oregon, described as follows: Beginning at a point in the center of County Road North 45' 46' • West 241.44 feet of the most easterly corner of that certain tract of land conveyed to Charles Burnham by deed recorded in Book W, Page 162, Deed Records of Washington County, Oregon, said beginning point being also the most westerly corner of that certain tract of land conveyed to W. J. Karry by deed recorded in Book 146, Page 105, Deed Records; thence North 420 19' East along the northwesterly line of said Kerry tract, 367.7 feet to the westerly right of way of Oregon Electric Railway Company; thence Northwesterly along said right of way line 60 feet to a point; thence South 42' 19' West 374.23 feet, more or less, to center line of County Road and the easterly line of said Burnham tract; thence South 45' 46' East 60 feet, more or less, to the place of beginning. AFTER RECORDING,RETURN TO: Attn:Timothy V. Ramis Ramis Crew Corrigan,LLP 1727 NW Hoyt Street Portland, OR 97209 BARGAIN AND SALE DEED TIGARD WATER DISTRICT, ("Grantor")conveys to the TIGARD WATER DISTRICT, CITY OF TIGARD, CITY OF DURHAM AND CITY OF KING CITY, as "Tenants In Common"with the following undivided interests: City of Tigard 70% Tigard Water District 22% City of Durham 2.5% City of King City 5.5% the following real property known as the Canterbury Property and legally described as, See Attached "Exhibit A: Property Description" Subject to any easements, rights of way, and reservations as the same may exist or appear of record. Subject also to the Tenancy In Common Agreement dated Sui . 2Y_____, 2007. The true consideration for this conveyance is Zero Dollars ($0.00). THIS INSTRUMENT WILL NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY APPROVED USES AND TO DE'T'ERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES AS DEFINED IN ORS 30.930. Dated this 69.5A- day of `Tutt_. , (206-7- GRANTOR: Georgy , R/LLfl L- �/YII SSio-fic ignature, Tigard Water District Print N.�� e and Title of signing Official (Notarial Certificate on following page) Bargain and Sale Deed for the Canterbury Property Page 1 of 2 dl STATE OF OREGON ) ) ss COUNTY OF Wo shy l ) This instrument was signed before me on J1/,Je_ 25 2_661- by 6e©r aJ - - ,;,/ /4-677 t-, 0'�'' OFFICIAL SEAL Notary Public GREER A GASTON My Commission expires: /f -/D-D4' ` _,,y NOTARY PUBLIC-OREGON COMMISSION NO.373020 MY COMMISSION EXPIRES OCT.10,2007 0• Bargain and Sale Deed for the Canterbury Property Page 2 of 2 iF EXHIBIT A CANTERBURY PROPERTY DEED LEGAL DESCRIPTION OF PROPERTY • . Beginking .4t..the;. q,}?thrreet oorrier of'lent 5',,,•,Slg, vi�.le Heights a subdivision of record in. SeDtton 1). wnjghipp'.2 o t; Range 1 Wait of«the' .n 1ott�e Meridian, in Washington Gc 74'`A'sg0ir,3' tR' 4 So_lith• 9I:29:I.'. YQat;a4,;o1}t3)p Nest line of .said snIciivze.lan Seet to.:.#ha..:S.outtator :: r. .Lot S.,.the e..Zeit. pt14 264 ,feet; thenee•North and para11ol, tirith the'Weet lino of slid lot 16'5 feet to the' North �.ine;thereof; 'thence•'1Yest 264 feet to the place of beginning; Together with an easement over toe folloning described tract of lendt . _ Begi• .o Z' bef-Na heaet corner of the abave•doe .bexl. property; thence Ea alor g .._, e. ,�.s 'y e;: i w i5,':Tigardville Heights, to the center.of Ihi dock AvonOB, tthopco Sof l hong»ma a�corit Mina; distauoe or-i2:.£e t,°thence 314`st and paralle . eitli':the' • Northilins of'Lot 5,.ho_the_,East line of the•••$"bxire -described tract of land, thence Nos-F2i a.distance of 12 feet to the: place of beginning. • AFTER RECORDING, RETURN TO: Attn: Timothy V. Ramis Ramis Crew Corrigan, LLP 1727 NW Hoyt Street Portland, OR 97209 BARGAIN AND SALE DEED TIGARD WATER DISTRICT, ("Grantor") conveys to the TIGARD WATER DISTRICT, CITY OF TIGARD, CITY OF DURHAM AND CITY OF KING CITY, as "Tenants In Common"with the following undivided interests: City of Tigard 70% Tigard Water District 22% City of Durham 2.5% City of King City 5.5% the following real property known as the Water Building and legally described as, See Attached "Exhibit A: Property Description" Subject to any easements,rights of way, and reservations as the same may exist or appear of record. Subject also to the Tenancy In Common Agreement dated ` uAL, , 2007. The true consideration for this conveyance is Zero Dollars ($0.00). THIS INSTRUMENT WILL NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY APPROVED USES AND TO DETERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES AS DEFINED IN ORS 30.930. Dated this .2,5 1(- day of boa— , a 00 -: GRANTOR: Afignn: c� btu , C.0 mirliS1/45r6Yier' Signed, Tigard Water District Print Natlne and Title of Signing Official (Notarial Certificate on following page) Bargain and Sale Deed for the Water Building Property Page 1 of 2 FSG*fg" 4 .dim, AO?:O EXIT A WATER BUILDING DEED LEGAL DESCRIPTION OF PROPERTY DESCRIPTION PARCEL I A tract of land in Section 2, Township 2 Smith, Range 1 Hest of the: Willamette Meridian, in the City of Tigard, County of Washington and State of Oregon, described as follows: Beginning at a point of intersection of the Southwesterly right of way line of that certain 50 foot strip of right of way conveyed to the Oregon Electric Railway Company by James R. O'Mara and Mary C. O'Mara, his wife, by deed dated January 4, 1907 and recorded February 16, 1907, on Page 40 of Book 75, Deed Records of Washington County, Oregon, and the lest line of the William Graham Donation Lend Claim No. 39, said point being monumented by an iron pipe; thence South 43° 00' West along the vest Donation land Claim line a distance of 354.3 feet, more or lees, to the center line of County Road No. 977; thence South 45' 04' Bast along the center line of said County Road; a distance of 95.75 feet; thence South 0' 21' West a distance of 132.33 feet to a point, said point being monumented by an iron pipe; thence South 89' 41' East, a distance of 368.55 feet to a point in the center line of County Road No. 227; thence North 0' 19' East along the center line of County Road No. 227 to a point on the Southwesterly right of lay line of the Oregon Electric Railway Company, as aforesaid; thence North 41' 58' West along the South— westerly right of way line as aforesaid, a distance of 291.63 feet to the point of beginning. PARCEL II A tract of land in Section 2, Township 2 South, Range 1 West of the Willamette Meridian. in the City of Tigard, County of Washington and State of Oregon, described as follows: Beginning at the point of intersection of the Southwesterly right • of way line of that certain 50 foot strip of right of way conveyed to Oregon Electric Railway Company by Names R. O'Mara and Maty C. O'Mara, his wife, by deed dated January 4, 1907, and recorded February 16, 1907, on Page 40 of Book 75, Deed Records of Washington County, Oregon, and the west line of the William Graham Donation land Claim No. 39, said point being monumented by an iron pipe; thence South 43' DO' West along said west donation land claim line a distance of 354.3 feet, more or less, to the center of County Road No. 997; thence North 45' 04' 30" West along the canter line of Caney Road No. 997, a distance of 241.44 feet; thence North 43' 00' East a distance of 367.75 feet, more or less, to a point on the • Page 2 EXHIBIT A WATER BUILDING DEED LEGAL DESCRIPTION OF PROPERTY DESCRIPTION — Continued Southwesterly right of way line of that cartiin 50 foot strip of right of way conveyed to the Oregon Electric.Railway Company by • Rudolph Henniker end S. C. Hanziker, his wife, by deed dated Deceaber 13, 1906 and recorded February 16, 1907, on Page 39 of Book 75, Deed Records of Washington County, Oregon, thence South 41' 50' East a distance of 242.25 feet, more or Use, along said South— westerly right of way line to the point of beginning. PARCEL III A tract of land in Section 2, Township 2 South, Range 1 Wast of the Willamette Meridian, in the City of Tigard, County of Washington and State of Oregon, described as follows: Beginning at a point in the center of County Road North 45' 46' West 241.44 feet of the most easterly corner of that certain tract of land conveyed to Charles Burnham by deed recorded in Book W, Page 162, Deed Records of Washington County, Oregon, said beginning point being also the most westerly corner of that certain tract of land conveyed to W. J. Kerry by deed recorded in Book 146, Page 105, Deed Records; thence North 42' 19' East along the northwesterly line of said Kerry tract, 367.7 feet to the westerly right-of way of Oregon Electric Railway Company; thence Northwesterly along said right of may line 60 feet to a point; thence South 42' 19' West 374.23 feet, more or less, to center line of County Road and the easterly line of said Burnham tract; thence South 45' 46' East 60 feet, more or less, to the place of beginuning.