Reso 1996-061 to 065 - Laserfiche WebLink

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9. In the subsequent transfer of all of these properties fi-om the Agency to the Auto Dealer, escrow fees, conveyance and transfer taxes shall be borne equally by the Agency and the Auto Dealer. The Auto Dealer shall pay the cost of title insurance premiums. The Agency's total approximate closing costs as described above for items 7-9 are $20,000. 10. The Agency will pay up to $5,000 to relocate equipment belonging to a printing company formerly located at 1152 Marina Boulevard. 11. The Agency is responsible for finding a suitable location, visible from Interstate 880, for a Readerboard Sign. The Agency has no financial obligations related to the sign or the land upon which the sign will be located. 12. The Agency will sell the Agency Assemblage to the Auto Dealer for a purchase price set by a formula in the DDA. This formula is discussed further under the Agency costs. 13. In the event that the Auto Dealer does not purchase the adjacent property, as described under the Auto Dealer's responsibilities in the DDA, the Agency may withdraw from this transaction. C Auto Dealer Responsibilities The Auto Dealer will purchase the Agency Assemblage from the Agency pursuant to the terms and conditions of the DDA. 2. Separately from the Agency Assemblage, the Auto Dealer is privately assembling additional land (1302-1314 Marina Boulevard) for the purposes of developing three auto dealerships in San Leandro ("Private Assemblage"). The Auto Dealer is funding this private assemblage without any Agency involvement. Also, the Auto Dealer has negotiated a clean-up plan for its private purchase of 13 02-13 14 Marina Boulevard. The Auto Dealer is assuming the risk that the clean-up costs could be higher. The Auto Dealer is purchasing property "as is" and has budgeted $75,000 for clean-up. This arrangement is independent of the Agency agreement with the Auto Dealer regarding clean-up costs for the other properties. Auto Dealer will fund demolition costs of $30,000 to demolish existing structures on 1066-1072 Marina Boulevard. Additional remediation costs will paid by the Agency (B6 above). There will be no demolition costs for 1152 Marina Boulevard, as the Auto Dealer will remodel the improvements. KEYSER MARSTON ASSOCIATES I N C. 19096100140CZdoc Page 5