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THIS DISPOSITION AND DEVELOPMENT AGREEMENT is made on or as of this 20th day of
<br /> March 2000, by and between the Redevelopment Agency of the City of San Leandro
<br /> (hereinafter "Agency ") and Michael Brooks, an individual, Leonard Bruno, an individual, and John Thomas
<br /> Pereira, an individual (hereinafter "Developer').
<br /> WITNESSETH:
<br /> 1. Pursuant to its authority granted under California law, the Agency has the responsibility to
<br /> carry out the City of San Leandro Plaza II Redevelopment Project, which was approved and adopted on
<br /> December 26, 1967, by the City Council of the City of San Leandro by Ordinance No. 67 -62, Serial
<br /> BA23623, Reel 2137, Images 753 -756, and amended on October 26, 1971, by Ordinance No. 71 -28, on
<br /> February 25, 1974, by Ordinance No. 74-14, on December 17, 1979, by Ordinance No. 79 -39, on March
<br /> 30, 1981, by Ordinance No. 81 -019, on November 29, 1982, by Ordinance No. 82 -093, on October 10,
<br /> 1983, by Ordinance No. 83 -026, on January 6, 1986, by Ordinance No. 83 -026, on January 6, 1986, by
<br /> Ordinance No. 85 -049, on December 15, 1986, by Ordinance No. 86 -039, on July 5, 1988, by Ordinance
<br /> No. 88 -013, by Ordinance No. 94-019, on August 15, 1994, by Ordinance No. 94 -029, on December 19,
<br /> 1994, Ordinance No. 95 -05, on February 27, 1995, and Ordinance No. 95 -06, on February 27, 1995. Said
<br /> redevelopment plan as described and as thereafter from time to time amended is referred to herein as "the
<br /> Redevelopment Plan' and is incorporated into this Agreement by reference.
<br /> 2. In furtherance of the Redevelopment Plan, the Agency and Developer entered into a letter
<br /> of intent on December 10, 1999, (incorporated herein by this reference and on file in the office of the
<br /> Agency Secretary) for the purchase and the development of approximately eighteen thousand five hundred
<br /> twenty -four (18,524) square feet of real property at 1948 Davis Street, San Leandro and more particularly
<br /> described on the attached Exhibit A incorporated herein by reference. Said real property, which is located
<br /> in an area governed by the Redevelopment Plan, is hereinafter referred to as "the Property.' The Property
<br /> as described in Exhibit A is the real property shown on the Preliminary Development Plan attached hereto
<br /> as Exhibit B.
<br /> 3. The purposes of this Agreement are to provide a mechanism whereby the Developer shall
<br /> acquire, own, and develop the Property in accordance with this Agreement and to effectuate the provisions
<br /> of the Redevelopment Plan. The development of the Property contemplated by this Agreement is
<br /> consistent with the Redevelopment Plan, the Implementation Plan, and the City of San Leandro General
<br /> Plan.
<br /> 4. The Agency has concluded that the Developer has the necessary expertise, skill and ability to
<br /> carry out the commitments herein contained and that this Agreement is in the best interests and will
<br /> materially contribute to the Redevelopment Plan.
<br /> Disposition and Development Page 1 of 23
<br /> Agreement
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