RDA Agmt 2001 Lavery California Dealership Properties No. 1 LLC

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THIS DISPOSITION AND DEVELOPMENT AGREEMENT (hereinafter "Agreement") is made on or as of this day of October, 2001, by and between the Redevelopment Agency of the City of San Leandro (hereinafter "Agency") and Lavery California Dealership Properties No.1 L.L.C. (hereinafter "Developer") (collectively, "Parties"). WITNESSETH: 1. Pursuant to its authority granted under California law, the Agency has the responsibility to carry out the Alameda County - City of San Leandro Redevelopment Plan, which was approved and adopted on July 12, 1993, by the Board of Supervisors of the County of Alameda by Ordinance No. 0-95-5, as amended, and by the City Council of the City of San Leandro by Ordinance No. 93-012, as amended. Said redevelopment plan as described and as thereafter from time to time amended is referred to herein as "the Redevelopment Plan" and is incorporated into this Agreement by reference. Any amendments to the Redevelopment Plan which change the uses or development permitted on the property described or otherwise change the restrictions or controls that apply to said property shall require the written consent of the Developer which consent shall not be unreasonably withheld; Agency acknowledges that no such amendments have been adopted since the adoption of Ordinance No. 0-95-5 and No. 93-012 which affect the Property. Amendments to the Redevelopment Plan applying to other property in the Project Area shall not require the consent of the Developer. Agency has performed and shall continue to perform all of its obligations pursuant to the Redevelopment Plan as they relate to the property that is the subject of this Agreement, and shall indemnify, defend and hold harmless Developer and its members, officers, directors, partners, successors, assigns, mortgages, lenders, tenants and licensees from and against any loss, cost, expense, damage or claim relating to the Agency's obligations under the Redevelopment Plan. 2. In furtherance of the Redevelopment Plan, the Agency has selected Developer to develop a full service automobile dealership for the sale and service of new and used vehicles on Marina Boulevard within the City of San Leandro (hereinafter "City"), on the property located at 467, 505 and 517 Marina Boulevard, more particularly described in the attached Exhibit A incorporated herein by reference (the "Property"). 3. Agency shall provide no financial assistance to Developer for the Development. 4. The purposes of this Agreement are to provide a mechanism whereby the Developer shall acquire, own, and develop the Property in accordance with this Agreement and to effectuate the provisions of the Redevelopment Plan. The Agency acknowledges that the development of the Property contemplated by this Agreement is consistent with the Redevelopment Plan, the Agency's Five Year Implementation Plan and the City of San Leandro General Plan. 5. The Agency has concluded that the Developer has the necessary expertise, skill and ability to carry out the commitments herein contained and that this Agreement is in the best interests and will materially contribute to the Redevelopment Plan. Disposition and Development Page 1 of 32 Agreement (Lavery California Dealership Properties No. 1 LLC)