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FINANCING AND TRUST <br />AGREEMENT <br />i THIS FINANCING AND TRUST ACREEMENT is made and entered into as of December 1, <br />3 1998, by and between M~-rt~oN COUNT~', OREGON, a political subdivision and body 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 />J ~ <br />6 ~ ~j~ <br />~ PREMISES ~ ~ <br />s <br />9 WHEREAS, the County is authorized und the provisions of ORS 271.390 (the "Act") to <br />~ o enter into contracts for the financing of any real personal property that the governing body of the <br />~ ~ County determines is needed, including finan ' g agreements with financial institutions; and <br />1? <br />t 3 W HEREAS, the County and the S lem Area Mass Transit District, a political subdivision <br />~a of the State of Oregon (the "Transit Di rict''), have entered into a certain Intergovernmental <br />>> Development Agreement dated as of , 1998 (the "Development Agreement") pursuant <br />16 to which they will undertake to acquire and construct a project in downtown Salem, Ore~on <br />17 commonly known as "Courthouse Square"', said project to consist of a multi-storied office building <br />~ 8 to house administrative offices for the governmental operations of the County and the Transit <br />i 9 District together with parking therefor and a transit mall to be used by the Transit District in its mass <br />2o transit operations; and <br />~~ <br />22 WHEREAS, the land upon which the Courthouse Square Project is to be located (as more <br />23 particularly described in the Mortgage, the "Site") is owned by the County and the Transit District <br />2~t as tenants in common; and <br />~~ <br />26 WHEREAS, the County and the Transit District vv~ll enti~~:'~~~ ~~ ~~+~~~~' into a Condominuim <br />27 Declaration for Courthouse Square Condominium ~~~-e~~ ~~ ,' ~~ (the "Condominium <br />?8 Declaration"') to provide for the ownership of their respective interests in the buildinbs and <br />3~ improvements constituting the Courthouse Square Project in the form of condominium interests; and <br />30 <br />FINANCING AND TRUST AGREEMENT PAGE 1 <br />