Inst 2013395393 - Laserfiche WebLink

Home

ti ° l=ir$t American Title Co. ;� f `a 2013395393 12/31/2013 11:20 AM Ls Escrow #NC5'S4L5/''Se? u OFFICIAL RECORDS OF ALAMEDA COUNTY ✓ . PATRICK O'CONNELL '',e,,00` RECORDING FEE: 0.00 Recording Requested by 111 I III III II I II I II I III II and when Recorded, return to: 8 PGs City of San Leandro No 835 East t4"'Street "" San Leandro,CA 94577 .e�turf Attention: City Manager EXEMPT FROM RECORDING FEES PER CALIFORNIA �a GOVERNMENT CODE§§6103.27383 Ufl APN: 077-0540-009 (SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE) GRANT DEED For valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City of San Leandro, a municipal corporation ("Grantor") acting for itself and in its capacity as the Successor Agency to the Redevelopment Agency of the City of San Leandro, hereby grants and conveys to lnnisfree Ventures II, LLC, a California limited liability company (the "Grantee"), the real property (the "Property") described in Exhibit A attached hereto and incorporated in this grant deed ("Grant Deed") by this reference. 1. The Property is conveyed subject to that certain Disposition and Development Agreement entered into by and between the Grantor and the Grantee dated as of June 1, 2012 (the "DDA"). The Grantor and the Grantee have executed a Memorandum of Option and Disposition and Development Agreement dated as of the date of this Grant Deed (the "Memorandum") which shall be recorded in the Official Records of Alameda County ("Official Records") substantially concurrently herewith. The Property is further conveyed subject to certain requirements, including without limitation those set forth in that certain Regulatory Agreement and Declaration of Restrictive Covenants Regarding Maintenance of Public Improvements executed by and between Grantor and Grantee, dated as of the date hereof (the "Regulatory Agreement") and recorded substantially concurrently herewith. 2. The Grantee hereby covenants and agrees, for itself and its successors and assigns, that the Grantee and such successors and assigns shall promptly begin and diligently prosecute to completion the redevelopment of the Property through the construction of new improvements (collectively, the "Improvements") in accordance with the DDA, including without limitation the provisions of the DDA that specify time periods for commencement and completion of construction. Promptly following completion of the Project (as defined in the DDA) in accordance with the DDA and the issuance of a certificate of occupancy for the Improvements, the Grantor will furnish the Grantee with an instrument so certifying (a "Certificate of Completion"). Such Certificate of Completion shall constitute conclusive determination of satisfactory completion of construction of the Improvements and compliance with the covenants in the DDA and in this Grant-Deed regarding the dates for the commencement and completion of such construction. 3. The Grantee hereby covenants and agrees, for itself and its successors and assigns,