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not convey the Adjacent City Property to the City, the Agency will be substituted as a party in place <br />of the City in the License Agreement. <br />"Minimum Office Improvements" means those improvements so designated in the Scope <br />of Development. <br />"Minimum Required Leases" means two executed leases, (a) each of which shall be: (i) for <br />a tern of not less than five (5) years; (ii) for gross building area of not less than ninety thousand <br />(90,000) square feet (as the footage under such two executed leases is aggregated); and (b) which <br />shall provide for occupancy by one of each such tenants in Building "One" and Building "Two," <br />respectively, as designated in the Development Concept Plan. <br />"Opening" means the lawful opening for business of a Conforming Restaurant Facility on <br />the Property. <br />"Outside Date" means October 2, 2000. Notwithstanding the setting forth of times for <br />performance or any provision of this Agreement to contrary effect, and notwithstanding Section <br />10.04 of this Agreement, the Agency shall have the right, at its option (and without liability in <br />connection therewith) to terminate this Agreement and any and all rights of the Developer in respect <br />to the Property in the event the Developer has not satisfied all of the Conditions Precedent on or <br />before the Outside Date. <br />"Parties" means the Developer and the Agency. <br />"Phase 1 Improvements" means the Minimum Office Improvements, the Adjacent City <br />Property Improvements, the Condominium Benefiting Improvements and any off-site improvements <br />or other undertakings required in connection with project approvals (including without limitation any <br />approvals under the California Environmental Quality Act ["CEQA"]). <br />"Phase 2 Improvements" means those improvements so designated in the Scope of <br />Development. <br />"Purchase Price" means the Cash Amount and, if retained by the Agency, the Conforming <br />Restaurant Amount (namely, Two Million Five Hundred Fifteen Thousand One Hundred Twenty <br />Dollars ($2,515,120)). <br />"Redevelopment Plan" means the Plaza 2 Redevelopment Plan adopted by the City Council <br />of the City of San Leandro, as amended. <br />"Restaurant Opening Deadline" means the second anniversary of the Date of Agreement. <br />"Restaurant Security" means a general passbook, interest bearing account or certificate of <br />deposit (of term acceptable to the Agency) in the name of the Agency with one of the five largest <br />banks or savings and loan associations in California or another bank or savings and loan association <br />acceptable to the Executive Director, having an initial balance equal to the Conforming Restaurant <br />Amount. <br />"Scope of Development" means Exhibit "D" hereto. <br />DOCS00701700v6\24258.0001 <br />