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I. Introduction, 3 II. Preliminary Matters, 3 A. The Decision to Acquire, 3 B. Limits on the Use of Eminent Domain, 3 III. The Transaction, 4 A. Type of Interest to Acquire, 4 B. Taking Amtrak into Account, 4 C. What to AcquireâIf Freight Service Will Continue, 5 D. What to AcquireâIf Freight Service Will Not Continue, 6 E. Due Diligence Issues, 7 F. Operations and Maintenance Following the Transaction, 8 G. Other Legal and Regulatory Issues, 9 H. Other Related Agreements, 13 IV. Conclusion, 14 Annotated Term Sheet Template for Acquisition of Real Property Interests from a Railroad by a Public Agency Seeking to Operate Passenger Rail Service, 15 CONTENTS LRD 3 RAILcover_final.indd 2 1/20/16 4:09 PM