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BMDV-54329\2647924.2 PUT OPTION AGREEMENT AND JOINT ESCROW INSTRUCTIONS Town Hall Square THIS PUT OPTION AGREEMENT AND JOINT ESCROW INSTRUCTIONS (this “Put Option Agreement”), dated as of December __, 2022 (the “Effective Date”), is between SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO, a public agency (the “Agency”), the CITY OF SAN LEANDRO, a California charter city (the “City,” and together with the Agency, “City/Agency”), and BEAM DEVELOPMENT, LLC, a California limited liability company (“Beam”). The City, Agency, and Beam are each referred to individually as a “Party” and collectively as the “Parties”. RECITALS A. The Parties entered into that certain Purchase and Sale Agreement and Joint Escrow Instructions dated as of December 7, 2017 (the “Original Agreement”), as amended by that certain First Amendment to Purchase and Sale Agreement dated as of December 4, 2018 (the “First Amendment”), that certain Second Amendment to Purchase and Sale Agreement dated as of January 30, 2020 (the “Second Amendment”), that certain Third Amendment to Purchase and Sale Agreement dated as of January 31, 2022 (the “Third Amendment”), that certain Fourth Amendment to Purchase and Sale Agreement dated as of May 31, 2022 (the “Fourth Amendment”), and that certain Fifth Amendment to Purchase and Sale Agreement dated as of July 18, 2022 (the “Fifth Amendment”), and collectively with the Original Agreement, First Amendment, Second Amendment, Third Amendment, Fourth Amendment and Fifth Amendment, the “Purchase Agreement”). The Purchase Agreement involves the conveyance of the Property from City/Agency to Beam for the purpose of facilitating its ultimate redevelopment consistent with the overall land use vision and relevant goals and objectives as set forth in the City’s relevant planning documents (e.g., the City’s General Plan). B. As provided in Section 5 of the Fifth Amendment, Beam has the right in its sole discretion, but not the obligation (a) to proceed to Closing (as that term is defined in the Purchase Agreement) prior to satisfaction of the Entitlements Condition, and (b) to require City/Agency to accept a conveyance of the Property from Beam pursuant to the terms hereof (the “Put Option”) by Beam delivering written notice to City/Agency of Beam’s election to do so at least thirty (30) days in advance of Closing but no later than November 30, 2022. Beam provided said notice to City/Agency on ______________, 2022. Thereafter, Beam purchased the Property pursuant to the terms of the Purchase Agreement concurrently with the date of this Put Option Agreement (“Acquisition Date”). C. This Put Option Agreement sets forth the Parties’ mutual understanding and agreement regarding the mechanics for the conveyance of the Property from Beam to City/Agency pursuant to the Put Option. AGREEMENT NOW, THEREFORE, for and in consideration of the foregoing, the Parties hereby agree as follows: