RDA Agmt 2004 EBMUD - Laserfiche WebLink

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East Bay Municipal Utility Distract AGREEMENT FOR THE SALE OF REAL PROPERTY THIS AGREEMENT entered into this day of S~tember, 2004, by and between East Bay Municipal Utility District ("District") and the City of San Leandro Redevelopment Agency ("Agency") for the purchase of certain real property. It Is Hereby Agreed As Follows; District agrees to sell to Agency and Agency agrees to purchase from District upon the terms and for the consideration set forth in this Agreement, all that certain property ("property") situated in the City of San Leandro, County of Alameda, State of California and described as follows: • 1595 Washington Avenue, San Leandro, CA 94577 2. Consideration: Agency agrees to pay District in cash the total sum of four hundred sixty five thousand dollars ($465,000) for the purchase of said property. Payment shall be made payable to: East Bay Municipal Utility District. 3. Term: Except for as noted herein, the term of this Agreement shall be from the date of execution of Agreement by both parties and shall terminate upon close of escrow but no later than October 1, 2004. 4. Joint Escrow Instructions: This Agreement constitutes the joint escrow instructions of District and Agency and hereby empowers the escrow agent, to whom these instructions are delivered, to act under this Agreement. The parties hereto agree to do all acts necessary to close this escrow. In the event the parties mutually agree to terminate this Agreement, District and Agency shall share equally the amount of the escrow fees due at the time. In addition, any funds paid into the escrow account by Agency shall be refunded. Prior to the close of escrow, Agency will. deposit into escrow, or cause to be deposited into escrow, all funds and/or documents, required from Agency to enable escrow to close. District agrees to deposit with the escrow agent a Grant Deed conveying the property to Agency. Escrow officer shall send Agency a copy of the Grant Deed and Agency shall prepare and execute a formal acceptance of Grant Deed, returning original of such to the escrow officer for recordation purposes. Title to the property shall be vested as such; "City of San Leandro Redevelopment Agency, a public body, corporate and politic, ofthe State of California".