TIMBERLAND PURCHASE AND SALE AGREEMENT FOR THE MORTON, LEWIS COUNTY, WASHINGTON TIMBERLANDS by and between PLUM CREEK TIMBERLANDS, L.P., As Seller and POPE RESOURCES, A Delaware Limited Partnership,Timberland Purchase and Sale Agreement • March 9th, 2005 • Pope Resources LTD Partnership • Forestry • Washington
TIMBERLAND PURCHASE AND SALE AGREEMENT FOR THE MORTON, LEWIS COUNTY, WASHINGTON TIMBERLANDS THIS AGREEMENT is made and entered into this ___ day of December, 2003, by and among PLUM CREEK TIMBERLANDS, L.P., a Delaware limited partnership, as successor by merger to Plum Creek Timber Company, L.P., a Delaware limited partnership (“Seller”) whose address is 999 Third Avenue, Suite 4300, Seattle, Washington 98104, and POPE RESOURCES, A Delaware Limited Partnership whose address is 19245 Tenth Avenue Northeast, Poulsbo, Washington 98370-0239 (“Purchaser”). Purchaser desires to purchase from Seller and Seller desires to sell to Purchaser approximately 3,297 acres of timberland and associated property and assets located in the State of Washington, known as the Morton, Lewis County, Washington Timberlands. In consideration of the mutual covenants set forth in this Agreement, the receipt and sufficiency of which are acknowledged, and subject to all terms of this Agreement, the parties agree
ContractOption Agreement • March 9th, 2005 • Pope Resources LTD Partnership • Forestry • Washington
AMENDMENT NO. 1 TO OPTION AGREEMENT THIS AMENDMENT NO. 1 TO OPTION AGREEMENT (this “Amendment”) dated for reference purposes only as of May 24, 2004, amends and modifies that certain Option Agreement dated August 14, 2003 (the “Agreement”), by and between POPE RESOURCES, a Delaware limited partnership, and OPG PROPERTIES LLC, a Washington limited liability company, formerly known as OLYMPIC PROPERTY GROUP LLC, a Washington limited liability company (collectively, “Optionor”), and KITSAP COUNTY, a political subdivision of the State of Washington (“Optionee”). NOW, THEREFORE, in consideration of the mutual covenants, conditions, and agreements of the parties, it is agreed by and between the parties as follows: AGREEMENT I. EFFECT OF AMENDMENT. Capitalized terms not otherwise defined herein shall have the meanings given them under the Agreement. This Amendment amends and modifies the Agreement and shall be effective as of the date of mutual execution and delivery hereof. In the event of
ContractOption Agreement • March 9th, 2005 • Pope Resources LTD Partnership • Forestry • Washington
OPTION AGREEMENT This OPTION AGREEMENT (this “Agreement”) is made and entered into this ___ day of _______, 2003, by and between Pope Resources, a Delaware limited partnership, and OPG Properties LLC, a Washington limited liability company (collectively, “Optionor”), and Kitsap County, a Public Entity (“Optionee”), with respect to the following real property (the “Real Property”): PARCEL A: The Southeast quarter of the southeast quarter of Section 33, Township 27 north, Range 2 east; the south half of the southwest quarter of Section 34, Township 27 north, Range 2 east; the north half of the northeast quarter, the southeast quarter of the northeast quarter and the east half of the southeast quarter of Section 4, Township 26 north, Range 2 east; the northwest quarter of Section 3, Township 26 north, Range 2 east, W.M., Kitsap County, Washington, subject to all agreements, conditions, covenants, declarations, easements, restrictions, and other matters of record. PARCEL B: The south
ContractPurchase and Sale Agreement • March 9th, 2005 • Pope Resources LTD Partnership • Forestry • Washington
PURCHASE & SALE AGREEMENT (WORTHINGTON BLOCKS IV AND V) (JEFFERSON COUNTY, WASHINGTON) POPE RESOURCES, a Delaware limited partnership (“BUYER”), hereby agrees to purchase from the ESTATE OF TRENA B. WORTHINGTON, deceased, (“SELLER”), and SELLER, subject to the terms and conditions contained herein, hereby agrees to sell and convey to BUYER that certain real estate located in Jefferson County, Washington, described on Exhibit A attached hereto, together with all rights, privileges and easements appurtenant thereto (“the Property”), for the price and upon the following terms and conditions: 1. PURCHASE PRICE; EARNEST MONEY DEPOSIT. BUYER hereby agrees to pay for the Property the amount of TWELVE MILLION THREE HUNDRED THOUSAND DOLLARS (US$12,300,000) (“the Purchase Price”). As part of a sealed bid on the Property, BUYER proffered a check payable to THURSTON COUNTY TITLE COMPANY, INC. (“the Title Company”) in the sum of ONE MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS (US$1,250,000). BUYER
MANAGEMENT AGREEMENT MANAGEMENT AGREEMENT (“Agreement”), dated as of December 31, 2004, by and between Cascade Timberlands LLC, a Delaware limited liability company (“Company”), and Olympic Resource Management LLC, a Washington limited liability...Management Agreement • March 9th, 2005 • Pope Resources LTD Partnership • Forestry • New York
ContractLoan Agreement • March 9th, 2005 • Pope Resources LTD Partnership • Forestry • Washington
LOAN AGREEMENT This Agreement dated as of October 26, 2004, is between Bank of America, N.A. (the “Bank”) and Pope Resources, A Delaware Limited Partnership (the “Borrower”).
