27657 sw stafford ROAD, WILSONVILLE OR WEST NEIGHBORHOOD PLANNED SCHOOL. New to Market!

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1 FROG POND RESIDENTIAL LAND DEVELOPMENT LAND IN WILSONVILLE S FROG POND 2035 PLANNED COMMUNITY sw stafford ROAD, WILSONVILLE OR WEST NEIGHBORHOOD SUBJECT PROPERTY SW STAFFORD RD. EAST NEIGHBORHOOD PLANNED SCHOOL BOECKMAN RD. AREA PLAN SOUTH NEIGHBORHOOD WILSONVILLE HIGH SCHOOL FOR SALE New to Market! 1 0 A C R E S S U B D I V I S I O N L A N D WILSONVILLE S NEWEST PLANNED COMMUNITY 2839 SW 2nd Avenue, Portland OR, PLEASE CONTACT FOR DETAILS: GEORGE N. DIAMOND (office) (cell) gdiamond@reig.com NICHOLAS G. DIAMOND (office) (cell) ndiamond@reig.com Licensed in Oregon

2 FROG POND RESIDENTIAL LAND SW FROG POND Ln. R-7 SW STAFFORD RD. R-5 BOECKMAN RD. Zoning and lot depictions are approximate. Property Features SALE PRICE: MARKET LAND SIZE: 10 ACRES CALL GEORGE DIAMOND ( ) OR NICHOLAS DIAMOND ( ) ZONING: R-7 SINGLE FAMILY FROG POND AREA: Frog pond west MASTERPLAN R-5 SINGLE FAMILY ULTILITIES: ALL ACCESSIBLE AVG lot size: 7,000 (R-7) - 5,000 (R-5) TOPOGRPAHY: GENERALLY LEVEL ( ) POSSIBLE LOTS: min 38 - max 47 DEveLOPABLE AREA: 10 Acres PAGE 2

3 F R O G P O N D R E S I D E N T I A3 8 -L4 7 SLI N GAL E NL O TDS The Frog Pond planned neighborhoods are situated conveniently on Wilsonville s east side, accessible by Boeckman Rd and within minutes of I-5, retail centers and major employers such as Xerox, Mentor Graphics and Sysco. ARGYLE SQUARE WILSONVILLE CHEVY WORLD OF SHOPPING CENTER SPEED MOTORSPORTS MUSEUM Villebois 500 AC MASTER PLANNED COMMUNITY Frog Pond WILSONVILLE TOYOTA PLANNED ELEMENTARY SWIRE COCA COLA USA WILSONVILLE WES RAIL SUB JECT PRO PER TY RITE AID DISTRIBUTION OLD TOWN SQUARE WILSONVILLE TOWN CTR. SHOPPING CENTER SHOPPING CENTER wilsonville high school MERIDIAN CREEK MIDDLE SCHOOL BOECKMAN CREEK PRIMARY SCHOOL SITE AERIAL VIEW PAGE 3

4 PRELIMINARY DATA FROG POND RESIDENTIAL LAND SINGLE LOTS The subject property is a 10-acre, rectangular shaped tract of land which is zoned Rural Residential Farm Forest 5-Acre (RRFF-5) of unincorporated Clackamas County. It is located inside the Metro Urban Growth Boundary (UGB) and immediately north of the Wilsonville city limits. It is part of the Frog Pond West Master Plan and intended for residential development with R-7 and R-5 densities. On July 17, 2017 City Council executed Ordinance No. 806 adopting the Frog Pond West Master Plan. It is a single tax lot that has generally level topography with an overall elevation range of 230 to 240 feet above sea level (ASL). R-7 R-5 ASSESSOR S MAP - PARCEL ACCESS FROM SW STAFFORD RD. LOT DETAIL PAGE 4

5 F R O G P O N D R E S I D E N T I A3 8 -L4 7 SLI N GAL E NL O TDS F R O GPond P O N D WEST WEST Frog Boeckman FROG POND AREA PLAN The Frog Pond Area in 2035 is a Wilsonville community with attractive and connected neighborhoods. The community s hallmarks are its walkable and active streets, variety of quality homes, and connected trails and open spaces. Frog Pond s excellent schools and parks are focal points of the community. Frog Pond is just a short bike, walk, or bus trip from all parts of Wilsonville a highly valued part of the larger city. Road R Wilsonville oad Three walkable and connected neighborhoods, with a set of parks and trails within and between the three areas: The West Neighborhood: A new neighborhood for Wilsonville - in the current UGB and adjacent to the Boeckman Creek Corridor - comprised entirely of single-family detached homes in the large, medium, and small lot residential categories; land for an estimated 610 homes; along with civic uses, trails, and two neighborhood parks. te River Willamet Purpose and scope Please Consult the full Frog Pond West Master Plan document pertaining to the subject property at 1 The East Neighborhood: A future neighborhood in the urban reserve adjacent to the BPA powerline/open space corridor; comprised of a variety of housing choices that includes Attached/Cottage Single Family; land for an estimated 849 homes; a 3.5 acre neighborhood commercial center to provide small scale retail and a community gathering place; civic uses at the historic Frog Pond Grange; and one neighborhood park hood parks. The South Neighborhood: A future neighborhood - in the urban reserve - anchored by civic uses that include a new middle school (opening 2017), primary school (future), and 10-acre community park (future); and comprised of a variety of detached housing choices and land for an estimated 476 homes. AREA MASTER PLAN PAGE 5

6 FROG POND RESIDENTIAL LAND SINGLE LOTS Stafford Road Kahle Road LAND USE FRAMEWORK Framework Street Local Connection Planning Area Frog Pond Lane Planned School Site Boeckman Creek Boeckman Road SUBJECT PROPERTY Advance Road Community Park BPA Corridor Natural Resources Overlay Existing Trees and Groves Tax Lots Large Lot SF (8,000-12,000 SF) Medium Lot SF (6,000-8,000 SF) Small Lot SF (4,000-6,000 SF) Institutional/ 60th Ave Future Large Lot SF (7,000-9,000 SF) Future Medium Lot SF (5,000-7,000 SF) Future Small Lot SF (3,000-5,000 SF) Future Attached & Cottage SF (2,000-3,000 SF) Future Commercial Wilsonville Road W illow Creek Future Institutional/ Feet ,000 Prepared By: Angelo Planning Group Date: 7/21/15 [ Coordinate System: NAD 1983 HARN State Plane Oregon North FIPS 3601 Disclaimer: This map is intended for informational purposes only. While this map represents the best data available at the time of publication, the City of Wilsonville makes no claims, representations, or w arranties as to its accuracy or completeness. Metadata available upon request. FROG POND LAND USE FRAMEWORK PAGE 6

7 Figure 6. Frog Pond West Land Use and Subdistricts SW THORNTON DR SW ADEN A VE Subarea 1 SW SW THORNTON LOWRIE LN DR S R O Z Subarea 7 Subarea 4 Subarea 8 Subdistrict 1 Subarea 7 FROG POND RESIDENTIAL LAND Frog Pond WESTSubarea 4 Master Plan Subdistrict 7 Subdistrict 8 Subdistrict 4 SW BOECKMAN RD SW FROG POND LN Subdistrict 13 Subdistrict 9 Land Banked PF Subdistrict 12 Subarea 13 PF Subarea 9 S R O Z Future School Site Subdistrict 3 Subarea 3 Subarea 5 Subarea 2 Subarea 11 Subarea 10 Subarea 6 * Subarea 12 Subdistrict 5 Subdistrict 2 Subdistrict 11 Subdistrict 10 SUBJECT PROPERTY Taxlots BPA Corridor PHS Wetland - 80% Developable SROZ Subdistrict 6 School/Park Site <all other values> Subarea Land Use SW KAHLE RD 1 inch = 333 feet Frog Pond West Subareas - Large Lot Single Family SW STAFFORD RD - Medium Lot Single Family - Small Lot Single Family SW ADVANCE R [ Subarea 1 S R 1 inch = 275 feet Subdistrict 1 Subdistrict 7 Subarea SINGLE LOTS Subdistrict 4 Subdistrict 13 SW BOECKMAN RD 24 Land Use City of Wilsonville SW ADVANCE RD a These metrics apply to infill housing within the Community of Hope Church property, should they c Feet a These metrics apply to infill housing within the Community of Hope Church property, to develop housing on the should site. the Housing property owner in the choose to develop subdistrict housing is on subject the site. Housing to the in R-7 the Medium Lot Sing Family regulations. subdistrict is subject to the R-7 Medium Lot Single Family regulations. Subarea 5 Land Banked PF Subdistrict 12 - Medium Lot Single Family Subarea 10 Subarea 6 S R O Z Future School Site Subdistrict 3 Subarea 12 Subdistrict 5 Subdistrict 2 Subarea 2 metrics and method for calculating proportional density. Subarea 13 PF PHS Wetland - 80% Developable SROZ Subdistrict 6 School/Park Site <all other values> Subarea Land Use - Large Lot Single Family SW STAFFORD RD - Medium Lot Single Family - Small Lot Single Family * basis, using gross acreage. See Appendix C for further information on the subd Disclaimer: This map is intended for informational purposes only. While this map represents the best data available at the time of publication, the City of Wilsonville makes no claims, representations, or warranties as to its accuracy or completeness. Metadata available upon request Prepared By: Angelo Planning Grou Coordinate System: NAD 1983 HARN State Plan Disclaimer: This map is intended for in While this map represents the time of publication, the no claims, representations accuracy or completeness request. Flexibility. The City may Subarea allow 3 a reduction in the minimum density for a subd when it is demonstrated that the reduction is necessary due to topography; pro Feet of trees, wetlands, and other natural resources; constraints [ 250 posed by existing development; Prepared By: Date: - Small infrastructure Lot Single Familyneeds; provision of non-residential Public Angelo Facilities uses; or similar Planning Group 1/3/2017 Coordinate System: conditions. NAD 1983 HARN State Plane Oregon North FIPS 3601 The subdistrict approach provides a straightforward and clear method of establishing lo densities, and standards that implement the Area Plan. It eliminates the uncertainty that - Large Lot Single Family Significant Resources property owners, and developers often face when using the Overlay old formulas Zone (SROZ) for density calc in the Code. * Land banked The draft for school Frog facilities, Pond a neighborhood West subdistrict park, and/or method residential is use. simpler and more predictab parties, while still providing flexibility. Table 1 lists the minimum and maximum dwelling u each subdistrict. Table 1. Minimum and Maximum Dwelling Units Permitted in Each Subdistrict Area Plan Designation R-10 Large Lot Single Family (8,000 12,000 SF) R-7 Medium Lot Single Family (6,000 8,000 SF) R-5 Small Lot Single Family (4,000 6,000 SF) Frog Pond West Subdistrict Minimum Dwelling Units in Subdistrict Maximum Dwelling Units in Subdistrict a Public Facilities (PF) TOTAL Land Use City of Wilsonville FROG POND WEST LAND USE & SUBDISTRICTS PAGE 7

8 FROG POND RESIDENTIAL LAND SINGLE LOTS SUBJECT PROPERTY FROG POND WEST PLANNED STREETS PAGE 8

9 FROG POND RESIDENTIAL LAND SINGLE LOTS SNAPSHOT RADIUS: 1 MILE 3 MILE 5 MILE 10 MILE DATA HIGHLIGHTS Population Estimated Population (2017) 8,157 32,385 83, ,903 Projected Population (2022) 8,861 34,916 90, ,319 Census Population (2010) 6,831 25,182 71, ,498 Census Population (2000) 5,744 19,302 60, ,609 Projected Annual Growth ( ) % 2, % 6, % 36, % Historical Annual Growth ( ) 1, % 7, % 11, % 40, % Historical Annual Growth ( ) 1, % 5, % 10, % 45, % >5,000 DAYTIME EMPLOYEES WITHIN 1 MILE >32,000 ESTIMATED POPULATION WITHIN 3 MILEs (EST.) GROWTH of >2,500 BY 2022 WITHIN 3 MILEs Households Estimated Households (2017) 3,346 11,878 30, ,363 Projected Households (2022) 3,549 12,626 32, ,134 Census Households (2010) 2,847 9,859 27, ,108 Census Households (2000) 2,356 7,790 22, ,353 Average Household Income Estimated Average Household Income (2017) $101,544 $113,047 $113,470 $111,899 Projected Average Household Income (2022) $124,476 $134,230 $132,428 $130,198 Census Average Household Income (2010) $68,442 $84,984 $84,432 $82,043 Census Average Household Income (2000) $66,732 $77,502 $74,905 $71,564 Projected Annual Change ( ) $22, % $21, % $18, % $18, % Historical Annual Change ( ) Total Businesses $34, % $35,545 1, % $38,565 4, % $40,335 19, % Total Employees 3,955 19,750 48, ,938 Company Headquarter Businesses 2 1.8% % % % Company Headquarter Employees % 1, % 3, % 11, % Employee Population per Business 31.0 to to to to 1 Residential Population per Business 64.0 to to to to 1 flir systems inc. (335), fred meyer (242), costco (226) Adj. Daytime Demographics Age 16 Years or Over 5,627 30,263 72, ,590 As of 1/1/2018 5,000-7,000sf Lots Labor Force Labor Population Age 16 Years or Over (2017) 6,599 26,785 66, ,413 Detached Homes # of Lots Average Price Average Home SF Average P/SF Home Labor Force Total Males (2017) 3, % 13, % 32, % 167, % Male Civilian WILSONVILLE Employed AVERAGE HOME 2,627COMPARABLES: 82.1% 9, % Active 23,435 (Current) 71.3% 117, % 8 $685,855 3,338 $205 Male Civilian Unemployed % % Pending 760 (Current) 2.3% 3, % 4 $697,490 3,433 $203 Males in Armed Forces as of 1/1/2018-5,000-7, % SF LOTS 3 - Sold (2017) % 31 $682,995 3,218 $212 Males Not in Labor Force % 3, % Total/Average 8, % 45, % 43 $684,875 3,260 $210 Labor Force Total Females (2017) 3, % 13, % 34, % 178, % Female Civilian Employed 2, % 7, % 19, % 102, % Female Civilian Unemployed % % % 2, % Females in Armed Forces % 53 - Females Not in Labor Force 1, % 6, % 14, % 72, % Unemployment Rate 3, % 13, % 32, % 167, % Labor Force Growth ( ) % % % Male Labor Force Growth ( ) % % % Female Labor Force Growth ( ) % % % >11,000 HOUSEHOLDS in 3-mile TRADE AREA SIGNIFICANT RISE IN HOUSEHOLD INCOME FORECASTED THROUGH 2022 IN 5 mile radius 34 COMPANY HEADQUARTERS WITHIN 5 MILEs TOP EMPLOYERS IN WILSONVILLE: MENTOR GRAPHICS (1085), stream international inc. (1066), xerox corporation (1032), rockwell collins (510), sysco food service (491), te connectivity (418), DEMOGRAPHIC & BUSINESS INFORMATION Occupation (2015) Occupation Population Age 16 Years or Over 5,392 16,262 42, ,718 PAGE 9

10 FROG POND RESIDENTIAL LAND SINGLE LOTS PORTLAND METRO AREA CITY PROFILE: Wilsonville, Oregon is a perfectly located community of just over 23,000 residents. The city offers the serenity of the scenic Willamette River while also providing a community with a thriving job market. The city s prime location has brought with it innovative companies such as Xerox, Mentor Graphics, Sysco, Rockwell Collins, Orepac, foodguys, Datasafe, Inc., TE Connectivity, and Flir Systems Inc. which provide the basis for a local annual median income of $60,672. The national average for median income falls shorter at $55,7751. Wilsonville is an opportunistic city for employers with 62.8% of the total population falling into the prime working ages of This is much higher than the national average of 52.9%. While just 30 miles from the Portland International Airport and situated along I-5, Wilsonville s growing community offers easy access to the city amenities as well as the rural wine country. Wilsonville has even been recognized as a Tree City, USA due to the abundance of parks and the natural beauty of the city. Wilsonville boasts numerous local shops and restaurants, frequent town events, family-friendly neighborhoods providing a balanced community, an extensive park system with easy access to boating, kayaking, fishing, swimming, bird watching, and other recreational activities. Wide open spaces have provided breathtaking natural landscape for several large community developments in recent years, and many more to come online soon. The largest residential development in Wilsonville has become home to the upscale family community of Villebois. This urban village has managed to bring new housing to Wilsonville while still focusing on creating a pedestrian and transit oriented community. Family oriented communities brings with it a need for a great school district. Wilsonville boasts exemplary schools and the West Linn Wilsonville SELLWOOD School District BRIDGE was even ranked the fourth best school district in Oregon for Wilsonville s exceptional location offers both rural and city living, an excellent workforce, as well as easy access to the freeway for nearby recreation. PROFILE PAGE 10

11 OREGON REAL ESTATE INITIAL AGENCY DISCLOSURE PAMPHLET OAR (4) Consumers: This pamphlet describes the legal obligations of Oregon real estate licensees to consumers. Real estate brokers and principal real estate brokers are required to provide this information to you when they first contact you. A licensed real estate broker or principal broker need not provide the pamphlet to a party who has, or may be reasonably assumed to have, received a copy of the pamphlet from another broker. This pamphlet is informational only. Neither the pamphlet nor its delivery to you may be interpreted as evidence of intent to create an agency relationship between you and a broker or a principal broker. Real Estate Agency Relationships An "agency" relationship is a voluntary legal relationship in which a licensed real estate broker or principal broker (the "agent"), agrees to act on behalf of a buyer or a seller (the "client") in a real estate transaction. Oregon law provides for three types of agency relationships between real estate agents and their clients: Seller's Agent - Represents the seller only; Buyer's Agent - Represents the buyer only; Disclosed Limited Agent - Represents both the buyer and seller, or multiple buyers who want to purchase the same property. This can be done only with the written permission of both clients. The actual agency relationships between the seller, buyer and their agents in a real estate transaction must be acknowledged at the time an offer to purchase is made. Please read this pamphlet carefully before entering into an agency relationship with a real estate agent. Definition of Confidential Information Generally, licensees must maintain confidential information about their clients. Confidential information is information communicated to a real estate licensee or the licensee s agent by the buyer or seller of one to four residential units regarding the real property transaction, including but not limited to price, terms, financial qualifications or motivation to buy or sell. Confidential information does not mean information that: a. The buyer instructs the licensee or the licensee s agent to disclose about the buyer to the seller, or the seller instructs the licensee or the licensee s agent to disclose about the seller to the buyer; and b. The licensee or the licensee s agent knows or should know failure to disclose would constitute fraudulent representation. Duties and Responsibilities of Seller s Agent Under a written listing agreement to sell property, an agent represents only the seller unless the seller agrees in writing to allow the agent to also represent the buyer. An agent who represents only the seller owes the following affirmative duties to the seller, the other parties and the other parties agents involved in a real estate transaction: 1. To deal honestly and in good faith; 2. To present all written offers, notices and other communications to and from the parties in a timely manner without regard to whether the property is subject to a contract for sale or the buyer is already a party to a contract to purchase; and 3. To disclose material facts known by the agent and not apparent or readily ascertainable to a party; A seller s agent owes the seller the following affirmative duties; 1. To exercise reasonable care and diligence; 2. To account in a timely manner for money and property received from or on behalf of the seller; 3. To be loyal to the seller by not taking action that is adverse or detrimental to the seller s interest in a transaction; 4. To disclose in a timely manner to the seller any conflict of interest, existing or contemplated; 5. To advise the seller to seek expert advice on matters related to the transactions that are beyond the agent's expertise; 6. To maintain confidential information from or about the seller except under subpoena or court order, even after termination of the agency relationship; and 7. Unless agreed otherwise in writing, to make a continuous, good faith effort to find a buyer for the property, except that a seller's agent is not required to seek additional offers to purchase the property while the property is subject to a contract for sale. None of the above affirmative duties of an agent may be waived, except #7. The affirmative duty listed in #7 can only be waived by written agreement between seller and agent. Under Oregon law, a seller's agent may show properties owned by another seller to a prospective buyer and may list competing properties for sale without breaching any affirmative duty to the seller. Unless agreed to in writing, an agent has no duty to investigate matters that are outside the scope of the agent's expertise, including but not limited to investigation of the condition of property, the legal status of the title or the seller s past conformance with law. Duties and Responsibilities of Buyer s Agent An agent, other than the seller s agent, may agree to act as the buyer s agent only. The buyer s agent is not representing the seller, even if the buyer s agent is receiving compensation for services rendered, either in full or in part, from the seller or through the seller s agent. An agent who represents only the buyer owes the following affirmative duties to the buyer, the other parties and the other parties agents involved in a real estate transaction: 1. To deal honestly and in good faith; 2. To present all written offers, notices and other communications to and from the parties in a timely manner without regard to whether the property is subject to a contract for sale or the buyer is already a party to a contract to purchase; and 3. To disclose material facts known by the agent and not apparent or readily ascertainable to a party. A buyer s agent owes the buyer the following affirmative duties: 1. To exercise reasonable care and diligence; 2. To account in a timely manner for money and property received from or on behalf of the buyer; 3. To be loyal to the buyer by not taking action that is adverse or detrimental to the buyer s interest in a transaction; 4. To disclose in a timely manner to the buyer any conflict of interest, existing or contemplated; 5. To advise the buyer to seek expert advice on matters related to the transaction that are beyond the agent s expertise; 6. To maintain confidential information from or about the buyer except under subpoena or court order, even after termination of the agency relationship; and 7. Unless agreed otherwise in writing, to make a continuous, good faith effort to find property for the buyer, except that a buyer s agent is not required to seek additional properties for the buyer while the buyer is subject to a contract for purchase. None of these affirmative duties of an agent may be waived, except #7. The affirmative duty listed in #7 can only be waived by written agreement between buyer and agent. This form has been licensed for use solely by Nicholas Diamond pursuant to a Forms License Agreement with Oregon Real Estate Forms, LLC. Provided by Oregon Real Estate Forms, LLC 9/9/ OREF 042 May not be reproduced without express permission of Oregon Real Estate Forms, LLC Page 1 of 3 This form has been licensed for use solely by Nicholas Diamond pursuant to a Forms License Agreement with Oregon Real Estate Forms, LLC. Provided by Oregon Real Estate Forms, LLC 9/9/ OREF 042 May not be reproduced without express permission of Oregon Real Estate Forms, LLC Page 2 of 3 OREGON REAL ESTATE DISCLOSURE PAGE 11

12 Under Oregon law, a buyer s agent may show properties in which the buyer is interested to other prospective buyers without breaching an affirmative duty to the buyer. Unless agreed to in writing, an agent has no duty to investigate matters that are outside the scope of the agent s expertise, including but not limited to investigation of the condition of property, the legal status of the title or the seller s past conformance with law. Duties and Responsibilities of an Agent Who Represents More than One Client in a Transaction One agent may represent both the seller and the buyer in the same transaction, or multiple buyers who want to purchase the same property, only under a written "Disclosed Limited Agency Agreement signed by the seller and buyer(s). Disclosed Limited Agents have the following duties to their clients: 1. To the seller, the duties listed above for a seller s agent; and 2. To the buyer, the duties listed above for a buyer s agent; 3. To both buyer and seller, except with express written permission of the respective person, the duty not to disclose to the other person: a. That the seller will accept a price lower or terms less favorable than the listing price or terms; b. That the buyer will pay a price greater or terms more favorable than the offering price or terms; or c. Confidential information as defined above. Unless agreed to in writing, an agent has no duty to investigate matters that are outside the scope of the agent s expertise. When different agents associated with the same principal broker (a real estate licensee who supervises other agents) establish agency relationships with different parties to the same transaction, only the principal broker will act as a Disclosed Limited Agent for both buyer and seller. The other agents continue to represent only the party with whom the agents have already established an agency relationship unless all parties agree otherwise in writing. The principal real estate broker and the real estate licensees representing either seller or buyer shall owe the following duties to the seller and buyer: 1. To disclose a conflict of interest in writing to all parties; 2. To take no action that is adverse or detrimental to either party's interest in the transaction; and 3. To obey the lawful instruction of both parties. No matter whom they represent, an agent must disclose information the agent knows or should know that failure to disclose would constitute fraudulent misrepresentation. You are encouraged to discuss the above information with the licensee delivering this pamphlet to you. If you intend for that licensee, or any other Oregon real estate licensee, to represent you as a Seller's Agent, Buyer's Agent, or Disclosed Limited Agent, you should have a specific discussion with the agent about the nature and scope of the agency relationship. Whether you are a buyer or seller, you cannot make a licensee your agent without the licensee s knowledge and consent, and an agent cannot make you their client without your knowledge and consent. Michael Manougian :51 GMT This form has been licensed for use solely by Nicholas Diamond pursuant to a Forms License Agreement with Oregon Real Estate Forms, LLC. Provided by Oregon Real Estate Forms, LLC 9/9/ OREF 042 May not be reproduced without express permission of Oregon Real Estate Forms, LLC Page 3 of 3 OREGON REAL ESTATE DISCLOSURE PAGE 12