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FINANCING AND TR <br />U T <br />AGREEMENT <br />1 THIS FINANCING AND TRUST AGREEMENT is made and entered into as f December 1, <br />2 1998, by and between MA~uoN CouNTV, OREGON, a political subdivision and bo corporate and <br />3 politic duly created and existing under the laws of the State of Oregon (the `County"), and <br />4 **TRUSTEE~`*, as trustee ("Trustee"). ' <br />5 I <br />6 - ~I <br />~ PREMISES <br />s <br />9 WHEREAS, the County is authorized under the provisions of ORS 271.39 (the "Act") to <br />lo enter into contracts for the financing of any real or personal property that the gove ing body of the <br />~1 County determines is needed, including financing agreements with financial instit tions; and <br />12 <br />13 WHEREAS, the County and the Salem Area Mass Transit District, a polit cal subdivision <br />14 of the State of Oregon (the "Transit District"), have entered into a certain Int rgovernmental <br />15 Development Agreement dated as of , 1998 (the "Development Agree ent") pursuant <br />16 to which they will undertake to acquire and construct a project in downtown alem, Oregon <br />17 commonly known as "Courthouse Square", said project to consist of a multi-storied office building <br />1 s to house administrative offices for the governmental operations of the County and the Transit District <br />19 together with parking therefor and a transit mall to be used by the Transit District in its mass transit <br />20 operations; and i, <br />21 <br />22 WHEREAS, the land upon which the Courthouse Square Project is to be 1 I cated as more <br />~ <br />23 particularly described in the Mortgage, the "Site") is owned by the County and the ransit District <br />24 as tenants in common; and <br />I <br />25 I <br />26 WHEREAS, the County and the Transit District have entered in to a Condominuim <br />27 Declaration for Courthouse Square Condominium dated as of , 1998 (the ` Condominium <br />28 Declaration") to provide for the ownership of their respective interests in the buildings and <br />29 improvements constituting the Courthouse Square Project in the form of condomini interests; and <br />30 I <br />~~, <br />~ I <br />FINANCING AND TRUST AGREEMENT PAGE 1 <br />