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<br />PARKING AGREEMENT FOR 101 CALLAN AVENUE <br /> <br />This Parking Agreement (the "Agreement") is entered into on this 19th dayof March ,2007, <br />by and between the CITY OF SAN LEANDRO, a public body corporate and politic ("City or Landlord") and <br />SL 101 LLC ("Lessee"). <br /> <br />RECITALS <br /> <br />WHEREAS, City is the owner of that certain parking garage located at Callan and Estudillo in the <br />City of San Leandro, and more particularly described as Alameda County Assessor's Parcel No. 077-0551- <br />064-00 (the "Estudillo Garage"); and <br /> <br />WHEREAS, City is the owner of that certain parking lot located at Hyde Street in the City of San <br />Leandro, and more particularly described as Alameda County Assessor's Parcel No. 077-0447-007-001 <br />(the "Hyde Street Parking Lot"); and <br /> <br />WHEREAS, Lessee desires to purchase that certain real property located at 101 Callan Street, <br />San Leandro, California 94577 and more particularly described as Assessor's Parcel NO 077-0551-065-03 <br />which consists of commercial office space (the "Property"); and <br /> <br />WHEREAS, Lessee desires to convert the Property into condominiums pursuant to Article 24 of <br />the San Leandro Zoning Code; and <br /> <br />WHEREAS, pursuant to San Leandro Zoning Code Section, Lessee is required to provide one <br />hundred fifty-nine (159) parking spaces (the "Required Parking Spaces"); and <br /> <br />WHEREAS, Lessee desires to lease from City parking spaces in the Estudillo Garage and the <br />Hyde Street Parking Lot in order to provide the Required Parking Spaces; and <br /> <br />WHEREAS, only one hundred and eight (108) parking spaces are currently available in the <br />Estudillo Garage and the Hyde Street Parking Lot; and <br /> <br />WHEREAS, as additional parking spaces become available in the Estudillo Garage and the Hyde <br />Street Parking Lot, Lessee desires to increase the number of parking spaces leased from City in order to <br />provide the Required Parking Spaces; and <br /> <br />WHEREAS, City desires to make additional parking spaces available to Lessee in either the <br />Estudillo Garage or the Hyde Street Parking Lot, as such additional parking spaces become available, until <br />Lessee is able to provide the Required Parking Spaces; and <br /> <br />WHEREAS, Lessee does not at this time have altemative parking available. <br /> <br />NOW, THEREFORE, in consideration of the recitals and obligations of the parties herein <br />expressed, City and Lessee hereby agree as follows: <br /> <br />926090-4 <br /> <br />1 <br /> <br />Estudillo Garage Parking Agreement <br />