RDA Agmt 2001 Lavery California Dealership Properties No. 1 LLC

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"The Property" - the real property located at 467 Marina Boulevard, identified as Parcel B in the attached Exhibit A. "Purchase Price" - The purchase price of the Property as defined in Section 3.02 of Part Two of the Agreement "Redevelopment Plan" - 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. "Transfer'- Any total or partial sale, transfer, conveyance, assignment or lease of the Property. PART TWO: THE DEVELOPMENT AND DISPOSITION Article One: DEVELOPER'S PRE -DISPOSITION REQUIREMENTS 1.01 Conditions Precedent. As a condition precedent to the Agency's obligation to sell and convey to Developer the Property for the Development, the conditions set forth in this Article One must first be satisfied or waived by the date as set forth in this Article One relevant for such condition, unless such time limit is extended by the Agency or at the discretion of its Executive Director ("the Executive Director'). 1.02 Approval of Development Plan. No later than the Agency's approval of this Agreement, Developer shall provide a Development Plan for the development of the Property. The Development Plan shall call for development of a full-service automobile car dealership of a size and character comparable to that of the other automobile dealerships on Marina Boulevard and with a showroom of at least 3,000 square feet. ("Improvements".) The Development Plan shall set forth in drawings and/or elevations the size and location of building(s), the number and location of parking spaces, the location of all pedestrian and automobile ingress and egress points, the proposed uses of the various portions of the building(s), and the location of other public streets and improvements. The development shall have a minimum frontage along Marina Boulevard of not less than 150 feet and a minimum building size of not less than 15,000 net square feet. When the Development Plan is approved by the Agency, it shall form a part of this Agreement. Any material change, modification, revision or alteration of the approved Development Plan shall be submitted for approval by the Agency; if not so approved, the approved Development Plan shall continue to control. Any proposed material change, modification, revision or alteration to the approved Development Plan shall be approved or disapproved by the Agency within fifteen (15) days of submittal and, if not approved or disapproved in writing within said fifteen (15) day period, shall be deemed approved. Disposition and Development Page 4 of 32 Agreement (Lavery California Dealership Properties No. 1 LLC)