Inst 2010 Easement CIPP Lot 1 - Laserfiche WebLink

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Grantee will record a release and reconveyance of this Grant of Easement upon the earliest to occur of the following: (i) completion of construction of Improvements required for the Property (as described in Section 5.1 of the Improvement Agreement, (ii) submission to Grantee of bonds or other security as described in Paragraphs A and B of Section 5.3 of the Improvement Agreement in form acceptable to Grantee for the Improvements required for the Property (as described in Section 5.1 of the Improvement Agreement), or (iii) Grantee's approval of a revised development plan or re-subdivision of the tract of which the Property is a part ("Tract 8010"), provided that (a) all improvements required by the subsequent improvement agreement related to said revised development plan or re-subdivision have been completed, and all other conditions required by the subsequent improvement agreement have been satisfied, or (b) security for the completion of such improvements and the satisfaction of such conditions, in form and amount acceptable to Grantee, has been provided to Grantee, (iv) Grantee's approval of a parcel map evidencing a reversion to acreage or a merger and re-subdivision of Tract 8010, pursuant to Government Code section 66499.11 et seq., and San Leandro Municipal Code sections 7-1-1000 through 7-1-1035; or (v) or such other act, approval or occurrence that results in the Conditions of Approval (defined in the Improvement Agreement) and the entitlements for development of Tract 8010 being rescinded or superseded. IN WITNESS WHEREOF, Grantor has executed this Grant of Easement as of F-el.,r ~ 4 , 2010. GRANTOR: CHANG INCOME PROPERTY PARTNERSHIP, L.P., SAN LEANDRO LAND SERIES (R11), a Delaware limited partnership By: Westlake Development Group, LLC a Delaware limited liability company, Chang Income Property Partnership Series ( 103) i general partner By: / M. ry on resident SIGNATURES MUST BE NOTARIZED 1328544-5 2