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<br />OWNER PARTICIPATION AGREEMENT BY AND BETWEEN THE <br />REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO AND WHITE <br />HOUSE EVENTS, LLC <br /> <br />For Property Located at 599 MacArthur Boulevard <br />(APN 076 0326 009 01) <br /> <br />This Owner Participation Agreement (the "Agreement") is entered into this <br />I tltL1 day of fV1 ([reM ,2007, by and between the Redevelopment Agency <br />of the City of San Leandro, a public body, corporate and politic (the "Agency") and <br />White House Events, LLC, California limited liability company (the "Owner"). <br /> <br />RECITALS <br /> <br />A. Purpose of Aqreement. The purpose of this Agreement is to effectuate the <br />Redevelopment Plan (the "Plan") for the West San Leandro-MacArthur Boulevard <br />Redevelopment Project Area (the "Project Area") and to find that the development (as <br />defined below) of the Site by the Owner pursuant to this Agreement conforms to the <br />uses, requirements, and other provisions of the Plan. Further, the purpose of this <br />Agreement is to set forth the development rights and obligations of all parties. <br /> <br />B. The Redevelopment Plan. This Agreement is subject to the provisions of the <br />Plan which was approved and adopted by the City Council of the City of San Leandro <br />by Ordinance No. 99-025 on July 19, 1999, and as thereafter amended. <br /> <br />C. Proiect Area. The Project Area is located in the City of San Leandro, California, <br />and is more particularly described in the Plan. <br /> <br />AGREEMENT <br /> <br />NOW THEREFORE, in consideration of the mutual covenants contained in this <br />Agreement, the Agency and Owner do agree as follows: <br /> <br />1. DEFINITIONS. The following definitions shall apply to the language in this <br />Agreement: <br /> <br />1.1 The Site. The Site is that portion of the Project Area consisting of real <br />property located at 599 MacArthur Boulevard and shown on the Site Map attached <br />hereto as Exhibit A and which is incorporated herein by this reference. <br /> <br />1.2 Development. The Development ("Development") consists of a plan to <br />remodel the exterior of the building' located on the Site, create a new building fac;ade, <br />and add new signage pursuant to this Agreement and as set forth in Exhibit B, <br />attached hereto and incorporated herein by this reference. <br /> <br />939797\11 <br /> <br />2 Owner Participation Agreement <br />City of San Leandro Redevelopment Agency <br />599 MacArthur Boulevard <br />