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,~ <br />AGREEMENT TO CONVEY PROPERTY AND <br />TO DELIVER PROCEEDS FROM FUTURE DISPOSITION <br />THIS AGREEMENT ("Agreement") is entered into this ~~day of 5~~ <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 one parcel (APN 079A-0568-005) located in the City of <br />San Leandro, County of Alameda, State of California legally described in Exhibit "A" <br />attached hereto and incorporated herein by this reference, and commonly known as <br />2101 Marina Boulevard, San Leandro, California (the "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 West San Leandro-MacArthur Boulevard <br />Redevelopment Project Area, as amended ("Redevelopment Plan"). City is conveying, <br />and Agency is accepting the conveyance of, the Property in furtherance of the <br />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 />2101 Marina Boulevard <br />