RDA Agmt 2001 Batarse Family Trust UTA

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Boulevard at 563 Marina Boulevard. 1.04 Development of Properties at 936, 945, 872 and 846 Marina Boulevard. Developer agrees to give up any rights to develop the properties at 936, 945, 872 and 846 Marina Boulevard for auto-related uses. Developer shall enter into an agreement to convey 936 Marina Boulevard to Dailey Chevrolet for SIX HUNDRED SEVENTY FIVE THOUSAND DOLLARS ($675,000) for development of the site pursuant to the terms of the Owner Participation Agreement between Dailey Chevrolet and the Agency. The transfer of the property to Dailey Chevrolet shall be completed no later than the date of Close of Escrow as defined below. In compensation for Developer's agreement to forego any rights to develop these properties, Agency shall pay Developer ONE HUNDRED SIXTY THOUSAND DOLLARS ($160,000.00). 1.05 Auto Mall Reader Board Sian. Agency and Developer entered into a Ground Lease for an Auto Mall Reader Board sign wherein Developer agreed to lease property from the Agency and build and maintain a Reader Board_sign to advertise the San Leandro Auto Center. Agency and Developer hereby agree to enter into the Third Amendment to the Ground Lease in the form attached hereto as Exhibit E. PART THREE: 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 Property B and Yokota Site A for the commencement of construction of the Improvements, 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 date of approval of this Agreement, the Developer shall submit to the Agency a Development Plan for the development of Yokota Site A, Property A and Property B. The Development Plan shall call for the following improvements (hereinafter "Improvements"): A) Development of a new and used automobile dealership at 765 Marina Boulevard (Property A) with an approximately 3,000 square foot showroom. B) Development of 635 Marina Boulevard (Property B) into a site for the display and storage of new and used vehicles. The site shall include paving and lighting. Disposition and Development Agreement (Automall) Page 6 of 29