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SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT <br />Town Hall Square <br />THIS SECOND AMENDMENT to Purchase and Sale Agreement (this <br />"Amendment"), is entered into as of January 31, 2020 (the "Amendment Date"), by <br />and among the Successor Agency to the Redevelopment Agency of the City of San <br />Leandro, a public agency (the "Agency"), the City of San Leandro, a California <br />charter city (the "City") and Beam Development LLC, a California limited liability <br />company ("Buyer"), and amends that certain Purchase and Sale Agreement dated <br />December 7, 2017 (the "Agreement") by and between City and Buyer, as previously <br />amended by the First Amendment to Purchase and Sale Agreement, dated <br />December 4, 2018 (the "First Amendment"). City, Agency and Buyer are <br />collectively referred to herein as the "Parties." Capitalized terms used without <br />definition herein have the meaning ascribed to such terms in the Agreement. <br />RECITALS <br />A. Pursuant to the Agreement, Buyer has agreed to buy the City Property and <br />the Agency Property for development of a mixed use project. <br />B. Pursuant to Section 5.2(a) of the Agreement, Buyer had twelve months from <br />the Opening of Escrow to conduct the Due Diligence Contingency Period. <br />C. Pursuant to Section 2 of the First Amendment, the Parties extended the Due <br />Diligence Contingency Period to January 31, 2020 in order to provide additional time for <br />Buyer to complete physical inspections of the Property and to negotiate for the purchase <br />of adjacent property. <br />D. Pursuant to Section 3 of the First Amendment, Buyer provided the <br />Additional Deposit required under Section 5.1 of the Agreement in consideration of the <br />City and Agency extending the Due Diligence Contingency Period. <br />E. Pursuant to Section 4 of the First Amendment, the Parties revised provided <br />that the Buyer had only four (4) twelve month Extension Periods of the Closing. <br />F. Buyer, Agency and the City have determined that it is necessary to continue <br />the Due Diligence Contingency Period for an additional time period. <br />G. Buyer has agreed to provide the Additional Deposit required under Section <br />5.1 of the Agreement in consideration of the City and Agency extending the Due Diligence <br />Contingency Period. <br />H. City, Agency and Buyer desire to enter into this Amendment in order to <br />extend the Due Diligence Contingency Period. <br />3468366.1 <br />