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ADDENDUM NO. 1 <br />INTERGOVERNMENTAL DEVELOPMENT AGREEMENT <br />COURTHOUSESQUARE <br />RECITALS: <br />WHEREAS Marion County and the Salem Area Mass Transit District executed an <br />Intergovernmental Development Agreement for the development of Courthouse Square on <br />October 28, 1998; and <br />WHEREAS the parties recognize that amendments may be required from time-to-time <br />to insure that the intergovernmental development agreement continues to reflect the intent of <br />the parties; <br />NOW, THEREFORE, the parties agree as follows: <br />AGREEMENT: <br />In consideration of the mutual promises and covenants made in the intergovernmental <br />development agreement, the parties hereby agree that the last paragraph of Section 5.2 of the <br />intergovernmental development agreement shall be changed to read as follows: <br />"Notwithstanding anything in this Section 5.2 to the contrary, the County shall have <br />the right to grant a mortgage on the County's interest in the Property as a cotenant of <br />the Property to secure financing for the County Facilities. Neither party may assign <br />any interest in this agreement." <br />Executed in multiple counterparts as of the <br />Marion County <br />Board of Commissioners <br />~ ~'~~~~ $ <br />Chair <br />missi er <br />Commissi n r <br />day of , 1998. <br />Salem Area <br />Mass Transit District <br />By: <br />Title: <br />Approved as to form: <br />Salem Area Mass Transit Legal Counsel <br />