Financial- Melvin Mark (Files 1-2)

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~ ~ PROJECT MANAGEMENT AGREEMENT DATED: June 1, 1997 BETWEEN: MARION COUNTY, OREGON, a political subdivision of the State of Oregon and SALEM A.REA MASS TRANSIT DISTRICT, a political subdivision of the State of Oregon AN~: MELVIN MARK DEVELOPMENT COMPANY, an Oregon corporation (together, "Owner") ("Manager") Owner owns certain real property known as block 5, SALEM, Marion County, Oregon, together with all improvements ~ocated ther~on (collectively, the "Property"). Owner intends to develop the Property by the construction thereon of a mixed use facility, generally consisting of the following: (i) a transit mall and Transit District administrative offices and related Transit district facilities, including parking facilities, and office and retail facilities to be leased by the Transit District to third parties, all to be owned (via a leasehold condominium interest) and used by the Transit District in its mass transit and governmental operations, (ii) County administrative offices and related County facilities, including pazking facilities, and office facilities to be leased or sold by the County to third parties, a11 to be owned (via a leasehold condominium interest) and used by the County in its govemmental operations or leased or sold by the County to third parties, and (iii) interim improvements (such as a parking lot or landscaping) on a pad of land on the north side of the Property intended for fuhue development. The mixed-u,e facility, during the conshuction thereof and after completion of construcdon, together with all building systems, fuctures, and equipment used in connection with the operation thereof is hereinafter referred to as the "Building" and, together with the Property, as the "Project" Owner desires to engage Manager to perform certain duties in connection with the construction of the Project, as more fully set forth herein, and Manager wishes to accept such engagement, upon all the terms and conditions hereof. NOW, TT~REFORE, in consideration of the mutual promises of the parties set forth in this Project Management Agreement (the "Agreement"), Owner and Manager agree as follows: " Emplovment, Term, Termination 1.1 Employment Owner hereby engages Manager exclusively to supervise the final design and construction of the Project for the Term of this Agreement and authorizes Manager to exercise, sub;ect to the supervision of the Owner and upon all the terms and conditions hereoy such powers as may be necessary and appropriate for the construction of the Project during the Term. 0145790.07