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SENT BY:SF OFFICE 1-30-96 : 9:48 ; KEYSER MARSTON— 5105776007:# 5/10 The Agency or City shall assume all costs for removing all existing improvements from the Property, rough grading and compacting the Property, and installing curbs, gutters and sidewalks along the boundary lines of the Property. 4. The Agency or City will assume all costs to extend utility services to the property line of the Property, including water service, electricity, sanitary sewer lines and such storm drain structures and facilities as may be required by public authorities. The Agency or City will assume all costs for traffic improvements to public right-of- way required for permits for the property. 6. The Agency or City will commence the above mentioned off -site work within 90 days of notification from the Developer. 7. The Agency or City will execute a Record of Restrictive Covenant in the form included in the Agreement restricting for 20 years any other automobile service stations or fast food restaurants selling directly competing fast food items which duplicate items sold by Developer from development/operation on other land owned by Agency in the Phase H development area associated with the Costco site. The Agency or City shall provide the Devcloper with appropriate easements, licenses and approvals so that the Developer may erect a high-rise sign or share sign space. The sign shall be of sufficient height and size to visible from I-880 in both southbound and northbound directions. 9. The Agency or City will pay one-half of the conveyance and transfer taxes, recording fees and escrow fee. 10. The Agency shall indemnify the Developer from any losses or expenses incurred as a result of contamination on the Property prior to the date of closing. 11. The Agency shall pay all brokerage fees and commissions. G Developer Responsibilities As a condition precedent to the ability of the Developer to exercise the option to purchase the Property: The Developer will purchase the Property all cash from the Agency for $24 per sq.& of land area. The parcel is approximately 55,000 sq.fl. in size, resulting in an estimated sale price of S 1.32 million. The exact price will be determined in the future after the survey measuring the parcel is completed. 19096=15-Mi .doc Pepe 4