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<br />LJ <br /> <br />OWNER PARTICIPATION AGREEMENT BY AND BETWEEN THE <br />REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO AND HORNET <br />ASSOCIATES <br />For Property Located at 140-144 Joaquin Avenue <br />(APN 077 0551 029 00) <br />AThis Own r Participation Agreement (the "Agreement") is entered into this <br />day of 4L4 , 2008, by and between the Redevelopment Agency <br />of the City of San Leandro, a public body, corporate and politic (the "Agency") and <br />Hornet Associates (the "Owner"). <br />RECITALS <br />A. Purpose of Agreement. The purpose of this Agreement is to effectuate the <br />Redevelopment Plan (the "Plan") for the Plaza Redevelopment Project Area (the <br />"Project Area") and to find that the development (as defined below) of the Site by the <br />Owner pursuant to this Agreement conforms to the uses, requirements, and other <br />provisions of the Plan. Further, the purpose of this Agreement is to set forth the <br />development rights and obligations of all parties. <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. 1295 N.S. on December 28, 1960 and as thereafter amended. <br />C. Project Area. The Project Area is located in the City of San Leandro, California, <br />and is more particularly described in the Plan. <br />AGREEMENT <br />NOW THEREFORE, in consideration of the mutual covenants contained in this <br />Agreement, the Agency and Owner do agree as follows: <br />1. DEFINITIONS. The following definitions shall apply to the language in this <br />Agreement: <br />1.1 The Site. The Site is that portion of the Project Area consisting of real <br />property located at 140-144 Joaquin Avenue and shown on the Site Map attached <br />hereto as Exhibit A and which is incorporated herein by this reference. <br />1.2 Development. The Development ("Development") consists of a plan to <br />upgrade the building fagade and add new signage pursuant to this Agreement and as <br />set forth in Exhibit B, attached hereto and incorporated herein by this reference. <br />2 ~wr~er ~a~#i~ipatior~ Ag~~~~~t <br />pity o~ ~a~a l.eara~ro ~edeve~~~ent A~en~y <br />~4~-1~4 Jv~quin Av~~u~ <br />