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City of San Leandro <br />Civic Center, 835 E. 14th Street <br />San Leandro, California 94577 <br />Office of the City Manager 510-577-3351 <br />FAX 510-577-3340 <br />November 13, 1998 <br />David Irmer, President <br />Creekside Associates, Inc. <br />2656 Bridgeway, Suite 200 <br />Sausalito, CA 94965 <br />Subject: Letter of Termination <br />Creekside Center Development <br />Dear David: <br />As you know, the Agency has decided not to proceed with the specific <br />development in the Disposition and Development Agreement ("Agreement") between the <br />San Leandro Redevelopment Agency and Creekside Center Associates. That Agreement <br />contemplated a specific type of retail development anchored by an upscale grocery store. <br />Unfortunately, it does not appear that it will be possible to develop the center envisioned <br />in the Agreement. The extended deadline for submittal of a final leasing plan and signed <br />leases expired in June, 1998, Accordingly, by way of this letter, the Agency is now <br />terminating the Agreement. <br />While we are ending our legal relationship under the current Disposition and <br />Development Agreement, the Agency is willing to discuss future development options for <br />the site or other sites in the City. Any future project would be subject to new agreements <br />with the Agency. <br />In the interest of being complete, I have included language in this letter that will <br />not only terminate the Agreement, but will also protect both you and the Agency from <br />any future potential liability, Effective on the date this letter is signed by both parties, the <br />letter will act as a mutual release of all claims. The Agency shall release and forever <br />discharge Creekside Center Associates, Inc., and its successors and assigns, from any and <br />all claims, demands, obligations, and causes of action of any nature under any legal <br />theory, whether known or unknown, which arise out of or in any way relate to the <br />Agreement. Creekside Center Associates shall release and forever discharge the Agency <br />and its successors and assigns, from any and all claims, demands, obligations, and causes <br />