RDA Agmt 2000 Creekside Associates LLC

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generally alongside the creek and adjacent to the Property, as more particularly depicted on Exhibit "E." As of the Date of Agreement, the Agency is owner of the Adjacent City Property. The Agency may, at its option, convey the Adjacent City Property to the City without necessity of Developer's consent. "Adjacent City Property Improvements" means all improvements to the Adjacent City Property required under the Scope of Development. "Agency" means the Redevelopment Agency of the City of San Leandro "Agency Conveyance" means the conveyance of the Property by the Agency to the Developer by means of the Agency Deed. "Agency Deed" means a deed in the form of Exhibit "C" hereto. "Approved Restaurant Product" means such restaurant operator as may be approved hereafter by the Agency Director in his reasonable discretion. "Cash Amount" means the sum of Two Million Two Hundred Sixty -Five Thousand One Hundred Twenty Dollars ($2,265,120). "City" means the City of San Leandro. "Conditions Precedent" means: (a) the submittal by the Developer to the Agency of a Conforming Firm Financing Commitment; (b) the submittal by the Developer to the Agency of executed Minimum Required Leases; (c) the execution by Developer and delivery to the Agency of the License Agreement; (d) the execution and Delivery by the Developer to the Agency of confirmation by Developer that the Developer has undertaken and completed its due diligence as to the Property, that the Property is suitable for the development required to be accomplished by the Developer under this Agreement, and that any corrective action concerning soils, if necessary, will be accomplished by the Developer at its cost and within the time established in this Agreement for the accomplishment of the Phase 1 Improvements; (e) the submittal by Developer to Agency of a guaranteed fixed-price construction contract for the Phase 1 Improvements; (f) the approval by City of final working drawings for the Phase 1 Improvements; (g) the execution by Developer as grantee of the Agency Deed; (h) delivery by the Developer to the Agency of proof of insurance conforming to Section 10.08 of this Agreement and construction bonds conforming to Section 4.11 of this Agreement; (i) the Developer shall have approved the condition of title as Conforming Condition of Title; and 0) the Developer shall not be in default of this Agreement. "Condominium Benefiting Improvements" means those improvements as designated in Section 4.03 hereof. "Conforming Condition of Title" means title to the Property subject only to: (a) the provisions of the Agency Deed; (b) exceptions 1, 2, 3, 4 and 7 as contained in Schedule B of that certain preliminary title report by First American Title Guaranty Company dated as of November 17, 1999 (Order No. SP 157776), a copy of which is on file with the Agency; (c) the conditions and effect of the Redevelopment Plan, as such plan then exists or is thereafter from time to time amended; (d) applicable building and zoning laws and regulations; (e) the provisions of this Agreement; (f) any lien for taxes accruing subsequent to recordation of the Deed; (g) the License Agreement; DOCS00701700v6\24258.0001 el/ -I r) 0(JJLi -'