HomeMy WebLinkAbout1996-055 Sale Agrmt - CottleAGREEMENT OF SALE
AND
DECLARATION OF GIFT
WHEREAS, the CITY OF ASHLAND, an Oregon municipal corporation of the
State of Oregon, hereinafter referred to as the "CITY," desires to purchase selected
undeveloped parcels of land within the City of Ashland for the purpose of dedicating
them to and for the purposes and use as Open Space, Neighborhood Parks or Natural
Park areas, and
WHEREAS, the real property described in Exhibit "A", attached hereto and by
this reference made a part hereof, is a parcel of land desired by CITY for such pur-
poses, and
WHEREAS, RICHARD C. CO'I-!'LE and ELIZABETH A. COTTLE, Trustees of
the R.C. COTTLE FAMILY LIVING TRUST and ARTHUR T. PHILLIPS and BILLIE JEAN
PHILLIPS, Trustees of the PHILLIPS FAMILY TRUST, hereinafter collectively referred
to as "SELLERS" ("GRANTORS"), are the Owners of the parcel of land described in
Exhibit "A", and said Owners desire to sell and convey said parcel of land to the CITY
for such purposes and use,
NOW THEREFORE, these Parties do hereby agree that said parcel of land as is
described in Exhibit "A" shall be sold and conveyed by the SELLERS to the CITY
under the Terms and Conditions hereinafter set forth:
SALES PRICE: The Parties hereby agree and acknowledge that the fair market
value of of the subject parcel of land is THREE HUNDRED SIXTY-EIGHT
THOUSAND ($368,000.00) DOLLARS.
GIFT to CITY: The SELLERS do hereby Deicare a GIFT to the CITY, in the nature of a
reduction of the Sales Price in the amount of ONE HUNDRED EIGHTEEN
THOUSAND ($118,000.00) DOLLARS. Said GIFT shall take effect
simultaneously with the execution of this Agreement, and such shall constitute
the documentation of said GIFT by SELLERS and the Acceptance thereof by the
CITY as the Donee.
TERMS OF PAYMENT: The Unpaid Balance of the Sales Price, in the amount of TWO
HUNDRED FIFTY THOUSAND ($250,000.00) DOLLARS, shall be paid as
follows:
Down Payment: With the execution of this Agreement, CITY shall pay the
sum of TWENTY-FIVE THOUSAND ($25,000.00) DOLLARS cash,
in the form of two separate checks in equal amounts, made
payable to the two separateTrusts who are the SELLERS.
Installment Payments: The balance of the sales price in the sum of
TWO HUNDRED TWENTY-FIVE THOUSAND ($225,000.00) shall
be evidenced by a Promissory Note, the terms of which shall re-
quire equal quarterly-annual installments to be made which shall
include interest at the rate of SIX (6%) PERCENT per annum, to
amortize said principal debt and interest over a period not to
exceed FIFTEEN (i 5) YEARS. Said payments shall be evidenced
by the issuance of two checks of equal amounts, payable to the
separate Living Trusts, mentioned above. In addition to the usual
'attorneys fee' clause, said Note shall not not be pre-paid without
the consent of the Payees for a period of FIVE (5) YEARS, after
which such shall be an option of the CITY without a pre-payment
penalty.
ADDITIONAL TERMS AND CONDITIONS:
SELLERS OBLIGATIONS:
1. The SELLERS shall Grant to the CITY a non-exclusive easement for
ingress and egress to the parcel of land being sold hereunder. Said
easement shall be for the sole purpose of public pedestrian traffic and
vehicular traffic only for the maintenance of said parcel as an Open
Space area, Neighborhood Park or Natural Park area. Said non-
exclusive Easement shall be FIFTEEN (15") FEET in width, and shall be
located TEN (10') FEET along and adjacent to the most Easterly property
line of Tax Lot 3700, and FIVE (5') FEET along and adjacent to the
most Westerly property line of Tax Lot 3600, as shown on the Jackson
County Tax Map, Code 5-1, Map 391E 09 CD. The Northerly terminus
shall be the south line of Herbert Street, and the Southerly terminus shall
be the northerly line of Ashland Street (Extended). CITY shall maintain
said Easement in good condition at ClTY's expense.
2. SELLERS shall furnish to CITY, an Owners Policy of Title Insurance,
insuring the fee title in the subject property to be free of all liens, en-
cumbrances or claims of Third Parties, and shall convey the fee title to
CITY by Statutory Deed form, consistent with the warranties above made.
Said Deed shall restrict said property for the sole purposes of its being
dedicated for use as a Dedicated Open Space area, and its development
for use as a Park shall be restricted to reasonable picnic and playground
facilities such as picnic tables, childrens' swings, slide and similar
playground types of equipment. There shall be no development for large
group activities, in the nature of (but not in limitation of this restriction)
ballparks, football and soccer fields, swimming pools, skate boarding or
tennis courts, etc.
CITY OBLIGATIONS:
1. There presently exists an irrigation pipe line connected to the City of
of Ashland (TID) Irrigation Ditch, which line extends in an easterly direct-
ion to the property shown as Tax Lot 3600 on Jackson County Tax Map
Code 5-1, 39 1E 09CD, which furnishes irrigation water for that property.
Said water line is in the immediate vicinity of Ashland Street (Extended).
CITY agrees to recognize the right to continue such use as such, by exe-
cuting a written Easement for recording in the Public Records of Jackson
County, Oregon. Such Easement shall be for the repair, maintenance and
replacement of such pipe line, within a (5') foot easement for that pur-
pose, in its present location, subject to the existing and future rules
and regulations otherwise pertaining to the use of such irrigation water.
2. CITY shall share equally with the SELLERS the expense of the
construction of a cyclone or chain link boundary line fence to be along
the common boundary lines of the SELLERS along the northerly line of
Ashland Street (Extended) and otherwise between either of these Parties
with that property described in Exhibit "A". Said construction shall be
commenced forthwith following the closing of this transaction.
3. CITY hereby stipulates that the property being purchased hereunder,
(Exhibit "A") shall be dedicated in perpetuity for use only as Open Space,
as a Neighborhood Park or as a Natural Park area. as those terms are
defined in the Ashland City Code or rules and regulations of the Ashland
consistent with the restricted uses above mentioned.
6. CITY shall execute for recording in the Public Records, a Trust Deed,
naming the SELLERS as the Beneficiaries thereof, to secure the
Promissory Note required to be executed by CITY as above mentioned.
After the recording of said document, SELLERS shall execute a Request
For Reconveyance of the same, to be held by CITY until the debt for
which it stands as security has been fully paid, at which time CITY may
record the same in the Public Records.
THIS AGREEMENT has been entered into this i,~-~ day of ---t~.~r..- ,1996,
and shall be binding upon the heirs, assigns and successors in interest of all Parties
hereto.
CITY OF ASHLAND, an Oregon Municipal Corporation ( BUYER and DONEE)
Cat~herine M. oG l den, Mayor
City of Ashland
._.~.~,~ ~=~'. ~, ~c,,, i~.-.-2~=~,,,.\~...~ "--' ~ '5'-
(Pursuant to Rcso/Ution No. ,=_,~ .... ~ ,.~..~...,,.~, )
SELLERS:
R. C. COTTLE FAMILY LIVING TRUST:
~/__~.(j~ '~' ~: ~'~~ Trustee
SELLERS:
PHILLIPS FAMILY TRUST:
'Successor Tru~ee
EXHIBIT "A"
TO AGREEMENT OF SALE AND DECLARATION OF GIFT
BETWEEN THE R.C.COTTLE FAMILY LIVING TRUST,
THE PHILLIPS FAMILY TRUST, and
THE CITY OF ASHLAND, an Oregon Municipal Corporation
The land referred to in said Agreement above mentioned is situated in the State of
Oregon, County of Jackson, City of Ashland, and is described as follows:
Beginning at a point on the North line of the Northwest quarter of Sec-
tion 16, Township 39 South, Range I East, Willamette Meridian, Jackson
County, Oregon, which point bears South 89'47' West, 693.06 feet from
the Northeast corner thereof; thence South 89'~47' West, 490.94 feet;
Thence Soouth, 489.17 feet, to the Northeasterly line of ditch as follows:
South 23 00' East, 105.5 feet; South 69"00' East, 48.00 feet; North 46'
00' East, 330.0 feet; East, 115.0feet; South 63000' East, 59.4 feet;
thence leaving said Northeasterly line of ditch, North, 402.1 feet to the
point of beginning.
(Shown on Jackson County Tax Map as Tax Lot 1300, Code 5-1,391E 16BA)
EXCEPTING THEREFROM:
1. That parcel of land shown on the Jackson County Tax Map as
Code 5-1, Map 39 1E 09CD, Tax Lot 3300.
2. A parcel of land conveyed to Richard C. Cottie and Elizabeth Ann
Cottie, husband and wife, by Warranty Deed recorded in
Volume 500, Page 409, Jackson County, Oregon Deed Records,
and as reconveyed to said parties by correction deed recorded in
Volume 507, Page 58, said Deed Records.
3. Rights of the public in and to that portion of the herein described pro-
perty lying within the boundaries of roads and highways.
4. Subject to that portion which may be within a strip of land land 20 in
width for the purpose of a public road, granted the City of Ashland
by instrument recorded in Volume 21, Page 84, Deed Records of
Jackson County, Oregon.
5. An easement for right of way for an irrigation canal or water pipe line
purposes, and rights in connection therewith, granted to the City
of Ashland, by instrument recorded in Volume 154, Page 140,
Jackson County, Oregon, Deed Records.
OFFICE OF THE CITY ATTORNEY
CITY OF ASHLAND
20 EAST MAIN STREET
(541) 482-3211, EXT. 59
MEMORANDUM
May 29, 1996
To:
From:
Subject:
Barbara Christensen, City Recorder
Ken Mickelsen, Director of Parks & Recreation
Jim Olson, Acting Public Works Director
Sharlene P. Stephens, ALS, Legal Assistant
Agreement of Sale and Declaration of Gift
(R.C. Cottie Family Living Trust and Phillips Family Trust)
The original of the above named agreement is attached to Barbara's copy of this
memorandum for filing. (This agreement was prepared in triplicate; the other two
originals were given to Richard Cottie.) Copies of this agreement are attached for Ken
and Jim. Patrick Caldwell in Finance was also provided with a copy.
Attachment
(s:~cottle.mem)