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BMDV-54329\2647924.2 Put Option Agreement - 17 - <br />ARTICLE 9 <br /> <br />MISCELLANEOUS <br />9.1 Amendment and Modification. Subject to applicable law, this Put <br />Option Agreement may be amended, modified, or supplemented only by a written agreement <br />signed by the Parties. <br />9.2 Risk of Loss and Insurance Proceeds. City/Agency shall be bound to <br />purchase the Property for the full Purchase Price as required by the terms hereof, without regard <br />to the occurrence or effect of any damage to the Property or destruction of any improvements <br />thereon or condemnation of any portion of the Property, provided that upon the Closing, there <br />shall be a credit against the Purchase Price due hereunder equal to the amount of any insurance <br />proceeds or condemnation awards collected by Beam as a result of any such damage or <br />destruction or condemnation. Beam shall have no obligation to repair or restore any such <br />damage or destruction. If the proceeds or awards have not been collected as of the Closing, then <br />such proceeds or awards shall be assigned to City/Agency. <br />9.3 Notices. All notices required or permitted hereunder shall be in writing <br />and shall be served on the Parties at the following address: <br />If to Agency: Successor Agency to the San Leandro <br />Redevelopment Agency <br />835 E. 14th Street <br />San Leandro, CA 94577 <br />Attn: Economic Development Manager <br />E-mail: <br /> <br />and to City: City of San Leandro <br />835 E. 14th Street <br />San Leandro, CA 94577 <br />Attn: City Manager <br />E-mail: <br /> <br />If to Beam: Beam Development, LLC <br />4100 Redwood Road, Suite 10-292 <br />Oakland, CA 94611 <br />Attn: Mukesh Bajaj <br />E-mail: maebajaj@gmail.com <br /> <br />with copies to: Miller Starr Regalia <br />1331 N. California Blvd., Fifth Flr. <br />Walnut Creek, CA 94596 <br />Attn: Nadia Costa, Esq. <br />E-mail: nadia.costa@msrlegal.com <br /> <br />If to Escrow Agent: First American Title Company