Purc Sale Agmt Sansome Pacific Amdt 2

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SECONDAMENDMENTTOPURCHASEANDSALEAGREEMENT TI TIS SECOND AMENDMENT TO PURCI !ASE AND SAI,E AGREEMENT, dated as of August21_, 20 I 9 (this "Second Amendment") is made and entered into by and between the City of San Leandro, a California charter city (the "City" or "Seller"), and Sansome Pacific Prope1ties, Inc., a California corporation ("Buyer"). Seller and 13uyer are collectively referred to herein as the "Parties." WHEREAS, Seller and Buyer have entered into that cettain Purchase and Sale Agreement and Joint Escrow Instructions, dated May 17, 2016 (the" Agreement"), with respect to that certain real property located in the City of San Leandro at I 188 E. 14th Street, known as Alameda County Assessor's Parcel No. 077-0447-007-01 and ore particularly described in Exhibit A attached to and incorporated in the Agreement (the "Property"). WI TE REAS, Seller and Buyer have entered into that certain First Amendment to the Agreement, dated April 20, 2018 (the "First Amendment"). WI lEREAS, Seller and Buyer wish to amend the Agreement, as previously amended by the first Amendment, in order to provide for an additional extension for the Entitlements Contingency Date as provided below. NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained herein, Seller and Buyer agree as follows: I. The foregoing recitals are incorporated by reference herein. 2. Section 3.3. Section 3.3 of the Agreement is hereby deleted and replaced with the following: As set forth in Section 3.2, the Buyer shall deposit Fifty Thousand Dollars ($50.000.00) in Escrow (the "Deposit"). Buyer shall increase the Deposit in the event Buyer exercises the Second Extension, Third Extension, Fourth Extension, foitth Extension, Sixth Extension, Seventh Extension, Eighth Extension and Ninth Extension to the Closing Date. as set forth and dc!ined in Section 5.1 below. 3. Section 3.5. Section 3.5 or the Agreement is hereby deleted and replaced with the following: As independent consideration for Seller's entering into this Agreement Lo sell the Property lo 13uyer, Buyer shall deliver the sum of Ten Dollars($ l ().()0) to Seller through Escrow ("Independent Consideration''). In the event that Buyer terminates this Agreement in accordance with Section 3.4 above, Seller shall retain the Independent Consideration and shall refund the Deposit, as increased by the Extension Deposits, lo Buyer; in Lhe event that Buyer does not terminate this Agreement as aforesaid, the Independent Consideration shall be applied to the Purchase Price al Closing. 4. Section 5.2(b). The second and third paragraphs of Section 5.2(b) of the Agreement, as previously amended by the First Amendment, is hereby deleted and replaced with the l'ollowing: