Deed - 721, 723, & 725 E 14th St, Civic Center expansion - File 927, 1974 pt1

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OPTION In Consideration of TEN AND NO/100 ) DOLLARS, THE RECEIPT WHEREOF IS HEREBY ACKNOWLEDGED, I HEREBY GIVE TO the City of San Leandro, a Municipal Corporation HEREINAFTER REFERRED TO AS OPTIONEE, THE OPTION OF BUYING, FOR THE FULL PRICE OF SIXTY THOUSAND AND NO/100 - - - - - - - - - - - - - - - - - - ($ 60 , 000.00/ ) DOLLARS, THE FOLLOWING DESCRIBED REAL PROPERTY SITUATED IN THE CITY OF San Leandro COUNTY OF Alameda , STATE OF CALIFORNIA, AND MORE PARTICULARLY DESCRIBED AS FOLLOWS, TO WIT: 721, 723 and 725 E. 14th St. Westerly line E. 14th St. 50' southerly from Peralta Avenue. Lot size: 49' x 108' improved with one-story and mezzanine concrete store building. OPTIONEE SHALL HAVE THE RIGHT TO CLOSE THIS APPLICATION AT ANY TIME WITHIN 90 days FROM DATE HEREOF, AND I AGREE TO EXECUTE AND DELIVER TO OPTIONEE, OR TO ANY ONE NAMED BY OPTIONEE, A GOOD AND SUFFICIENT GRANT DEED. ON EXECUTION OF SAID DEED I AM TO BE PAID THE FURTHER SUM OF FIFTY THOUSAND NINE HUNDRED NINETY AND NO/00 - - - - -($ 50 , 990.00 ) DOLLARS, IN FULL PAYMENT OF THE PURCHASE PRICE OF SAID REAL PROPERTY: BUT IF SAID OPTION IS NOT CLOSED WITHIN 90 days FROM DATE HEREOF, I AM TO RETAIN THE SAID SUM OF TEN AND NO/00 - - - - ($10.00 ) DOLLARS, SO PAID AS AFORESAID, AS LIQUIDATED DAMAGES. IF SAID OPTION IS CLOSED WITH THE SAID 90 da s , THE AMOUNT PAID AS AFORESAID IS TO BE APPLIED TOWARDS THE PURCHASE PRICE. TIME IS OF THE ESSENCE OF THIS CONTRACT. DATED THIS 5th DAY OF April , 1974 Current Leases: 721 E. 14th St. - Bar - to 1/31/7 6 723 E. 14th St. - Printer - to 12/31/74 725 E. 14th St. - Tax - to 4/30/75 State of California) County of Alameda) ss On this day of personally appeared /4, kAA1 S 19 , before me, the undersigned Notary Public, Known to me to be the person described in and whose name and who executed the within instrument and acknowledged to me that same Notar•7 Public in and for said County and State subscribed to executed the