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SEP.ly.199~ 11~~~AM <br />N0.~52 P.~iS <br />~ THIS DEV~LOPMfiNT AGRBEME~T (the "A~Teert~ent'") iS m3de ~~GONd ~~ppli~t al <br />the ~ day of ~~~ 1997~ vY arid be~ween N~ARION COUNTY, ~ <br />subdivisiQn of che Statethe 3ta e~of~`Oregon (}'Tr nsis Di~nct~AREA MASS TRANSIT DISTRICT, a <br />political subdiv~sion of <br />RECITALS <br />A. Tb~ County and the Transit District own certairl real propeny located in doWntown Salem, <br />M~rion County, Oregon, c~n~ lY ~re on (che "Property"aloThe CQ u Yeand~Tra SityD~stricb have <br />Block S, SAL~M, Mar~an Y~ . g ener~lly cansistin of the ~ollow~ng; (i) a <br />agreed to locate a mixed use faciliry on the Property, g ~ <br />transit center and Transit nistrict administrae le sedcbs he r1'ra.nsit D~stricDt4 third cll~t ~s, alllto be <br />parking facilities, and office facilities to b a Y <br />owned (via a leasehold condolm nt o e ationsa(asT moree pArti~ularly def ned ~he~einn the `STraas [ <br />its mass transit and govern P <br />Facilities"); (ii) Coun~it es o~ be~leased or sold bynhe Caunty to~uthird Pa.ities, all to be owned (via a <br />facilicies, ~nd office facil ~ <br />teasehold condominium inter~st as c~pT~hird~dart es~(as mete S R culaz~ly def'i ed herein~ he f County <br />ope r a t i o n s o r l e a se d b y the Coun~y P <br />Facilities"); and (iii) comcnei~i ari~~d 1 ased tothi d pa es (~ lmore part cq latly defined herein, <br />g r o v i d e d l l e r e t n) b y a p r i p Y <br />the "RetRil Faciliues")• <br />B. A private par~y to acc~uire, finance, own and opetate the Retail Facilities shall be selected <br />by ch~. County and Transic Distnct, _ <br />C, The County and Transie District bave eng~B~elo p~in~~the1Propertylto ~n~lude het'I`rans t <br />property which so fa~ have resulted in a concept for d $,,, <br />District Facilities, the County Facilities, eo ect Im ro~vementsi~are jo ntlytr~f r'red to~~Pz~~this <br />ImprovemenCs"). The Property and the Pr ~ P <br />Agreement as the "Project." <br />D. Tlie Parties have prQVided for preliminary de$ign of the Praject ImprovemenXs, as shown <br />in the Plans. ~ <br />E. The purpose of tliis Agree uont iii~ mAnagemenx and (i~ ownersh p ofethe Pro,}ect al <br />preconstcuction activittes, (it) constru , ( <br />~ generally according to the terms of this Agreement and the Sehedule of Perforntance• <br />F. Th~ county has ~uchorized this AgFeeraenC purS~lant ta ' <br />daced _ , 1997, and the Transit District has au~horized tbis Agreernent <br />pursuant to eso uuon -- , ate e tem ex ~ <br />'t. <br />NOW THfiREFORE, ere n A ldsother v~u b e c ns deratlon,~ e adequacyaof whicb~is hereby <br />of the other Parties set forth h <br />acknowledged, cov~nanl' an~ a~~e as follows: <br />SECTION 1. DEFINITIONS . The following terras shall have the designated meanin~s for purposes <br />of the Agr~~.ment: <br />« ect Co$t Budget" m~ans the line item budget for all ~roje~t Costs ather Chan <br />1.1 Additional Praj <br />die Project Coscs incl.uded in tlze D~molition Conttact or the Genaral Construction Budget. <br />~ Couithouse Squar~ <br />pcveloQment Agreement <br />Page - 1 <br />