RECITALS <br />WHEREAS, Outlot, as successor by merger with McGrath's Eugene, LLC, as successor in <br />interest to Outlot Developers, a California general partnership, is the owner of that certain parcel <br />of real property in Lane County, Oregon, (Tax Lot 17-03-30-20-01201) more particularly <br />described as: <br />See Exhibit "A" attached hereto and incorporated by reference as though <br />fully set forth herein; <br />hereafter referred to as "Parcel 1." <br />WHEREAS, Parcel 1 was acquired under the name of McGrath's Eugene, LLC, who <br />merged with Outlot on March 23, 2007. <br />WHEREAS, Valley is the ownerof that certain real property in Lane County, Oregon, (Tax <br />Lot 17-03-30-20-01200) more particularly described as: <br />See Exhibit "B" attached hereto and incorporated by reference as though <br />fully set forth herein; <br />hereafter referred to as "Parcel 2." <br />WHEREAS, Parcel 1 and Parcel 2 are adjacent to each other along the western and <br />southern boundaries of Parcel 1. <br />WHEREAS, on April 16, 1990, Anna Rossi Von Riedkirch and Margaret HolimarThumel, <br />predecessors in interest to Valley and then owners of Parcel 2, as "Grantors," and Outlot <br />Developers, a California General Partnership, predecessors in interest to Outlot, and then owner <br />of Parcel 1, as "Grantee" entered into an Easement Grant wherein Grantors granted to Grantee <br />a non-exclusive easement for ingress and egress and related landscaping over and across the <br />northern 350 feet of the western 26 feet of Parcel 2, as more particularly described in Exhibit "C" <br />attached hereto and incorporated by reference as though fully set forth herein (hereafter <br />"Easement"). The Easement Grant was recorded on May 2, 1990, at Reel No. 1629R, <br />Reception No. 9020302, Official Records of Lane County, Oregon. <br />WHEREAS, pursuant to the terms of the Easement Grant, Grantee constructed an <br />asphaltic concrete roadway on the easterly 24 feet of the Easement and installed landscaping on <br />the westerly 2 feet of the Easement. <br />WHEREAS, Valley is in the process of developing Parcel 2 for hotel purposes, and <br />desires to construct a sidewalk for pedestrian (including ADA) uses within the Easement. <br />WHEREAS, the parties have agreed to amend the terms of the Easement Grant pursuant <br />to the terms and conditions herein contained. <br />2- First Amendment to Easement Grant <br />