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AGREEMENT TO CONVEY PROPERTY AND <br />TO DELIVER PROCEEDS FROM FUTURE DISPOSITION <br />THIS AGREEMENT ("Agreement") is entered into this ;"`day of 5~~'~~t~~fz,.., <br />2003 ("Effective Date"), by and between the CITY OF SAN LEANDRO ("City") and the <br />SAN LEANDRO REDEVELOPMENT AGENCY ("Agency"). <br />RECITALS <br />This Agreement is entered into upon the basis of the following facts, <br />understandings, and intentions of the parties: <br />A. City is the owner of two parcels (APN 075-0148-005-00 and 075-0148-006- <br />01)located in the City of San Leandro, County of Alameda, State of California legally <br />described in Exhibit "A" attached hereto and incorporated herein by this reference, and <br />commonly known as 1016 and 1040 Davis Street, San Leandro, California (the <br />"Property"), <br />B. City desires and agrees to convey the Property to Agency and Agency <br />desires and agrees to accept the conveyance of the Property from City on the terms <br />and conditions in this Agreement. <br />C. Agency is a redevelopment agency existing pursuant to the Community <br />Redevelopment Law, California Health and Safety Code Section 33000, et seq. <br />Pursuant to its authority under California law, Agency has the responsibility to carry out <br />the Redevelopment Plan for the Plaza Redevelopment Project Area, as amended <br />("Redevelopment Plan"). City is conveying, and Agency is accepting the conveyance <br />of, the Property in furtherance of the Redevelopment Plan. <br />D. The Property is located in an area governed by the Redevelopment Plan. <br />E. Under Section 33220(a) of the Community Redevelopment Law, for the <br />purpose of aiding and cooperating in the Redevelopment Plan, the City, upon the terms <br />and with or without consideration as it determines, may dedicate or convey any of its <br />property to the Agency. <br />F. The conveyance of the Property as provided for herein is in furtherance of <br />the Redevelopment Plan, provides a benefit to the City, and serves the City's public <br />purposes. <br />G. The parties desire and agree that City shall convey the Property to <br />Agency as provided for herein without the payment of monies prior to or at the time of <br />such conveyance; and the parties further desire and agree that when Agency thereafter <br />disposes of the Property to another party, any and all funds Agency derives from such <br />disposition of the Property shall be paid to City as provided for herein. <br />City-Agency Agreement <br />1016-1040 Davis Street <br />