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AGREEMENT THIS AGREEMENT, dated this S:tb. day of 1999, between the City of Moscow (hereafter "City"), a municipal corporation of the State of Idaho, and the Regents of the University of Idaho, a public corporation, state educational institution and body politic and corporate organized and existing under the Constitution and laws of the State of Idaho (hereafter WHEREAS: the Idaho Transportation Department (hereafter "ITO") is constructing the Moscow South Couplet project and is acquiring right-of-way upon which to place the couplet; and WHEREAS, Parcel No. 2483L07 is real property which is impacted by the right-of-way acquisition for the South Couplet project; and WHEREAS, ITO has determined that the most expeditious manner of obtaining such right-of way is to purchase Parcel No. 2483L07 in total; and WHEREAS, lTD has a limited budget for purchase of right-of-way for the South Couplet project; and WHEREAS, pursuant to agreement between lTD and the City, the City has agreed to make available certain Federal Aid Funds (maintained by lTD for the City's use on applicable projects) for the South Couplet project; and WHEREAS, such Federal Aid Funds are unavailable for use in the entire purchase of the Parcel No 2483L07 property; and WHEREAS, the Ul is interested in the development of the South Couplet area as its proximity to the University's entrance on Sweet Avenue and its overall long range campus development; and WHEREAS, the Ul has agreed to provide up to $135,000 toward the purchase of the Suva property; and WHEREAS, lTD requires that the City act as the primary contracting local entity; and ---PAGE BREAK--- WHEREAS, the City and the Ul are desirous that the South Couplet project proceed with all due speed and are eager to cooperate in this endeavor. NOW, THEREFORE, the parties agree as follows: 1. The City agrees to execute the Cooperative Agreement NH-4114 (062) Moscow Couplet, South Connection Key No. 2483 as provided by lTD or a substantially similar document. 2. That within ten (10) days of the City's execution of the Cooperative Agreement, the University of Idaho will provide City with $135,000 to fund City's obligation pursuant to the Cooperative Agreement. 3. City shall, upon receipt of the Warranty Deed for Parcel No. 2483L07, and executing Easement No. 0038702 in favor of lTD, issue a warranty deed to the Ul for Parcel No. 2483L07. Gjjpert F. Myers, City Clerk C:\Legai\AGREEMENT.Suva lTD Ul.doc-cb REGENTS OF THE UNIVERSITY OF IDAHO ---PAGE BREAK--- MEMORAl"