Deed - 1077 & 1091 Davis St - File 1131, 1985

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OPTION IN CCNSIDERATION GF Cne Hundred ($100.00) DOLLARS, THE RECEIPT WHEREGF IS HEREBY ACKNOWLEDGED, I HEREE7Y GIVE TO The City of San Leandro, HEREINAFTER REFERRED TG AS OPTIONEE, THE OPTION OF BUYING, FOR THE FULL PRICE OF One Hundred Seventy Five Thousand ($175,000.00) DOLLARS, THE FOLLOWING DESCRIBED REAL PROPERTY SITUATED IN THE CITY OF San Leandro, COUNTY OF Alameda, STATE OF CALIFCRNIA, AND MORE PARTICULARLY DESCRIBED AS FOLLOWS, TO WIT: 10i7 and 1091 Davis Street, together with all improvements thereon. This agreement includes that the optionor is selling the property under threat of condemnation by the City of San Leandro. GPTIGNEE SHALL HAVE THE RIGHT TO CLOSE THIS APPLICATION AT ANY TIME WITHIN 90 days from acceptance by the City Council of the City of San Leandro, AND I AGREE TO EXECUTE AND DELIVER TO GPTIGNEE, OR TC ANY ONE NAMED BY GPTIGNEE, A GOOD AND SUFFICIENT GRANT DEED. ON EXECUTICN OF SAID DEED I AM TO BE PAID THE FURTHER SUM OF One Hundred Seventy Four Thousand, Nine Hundred ($174,900.00) DOLLARS, IN FULL PAYMENT OF THE PURCHASE PRICE OF SAID REAL PROPERTY: BUT IF SAID OPTION IS NOT CLOSED WITHIN 90 days from acceptance by the City Council of the City of San Leandro, I AM TO RETAIN THE SAID SUM OF One Hundred ($100.00) DOLLARS, SO PAID AS AFORESAID, AS LIQUIDATED DAMAGES. IF SAID OPTION IS CLOSED WITHIN THE SAID Option Period, THE AMOUNT PAID AS AFORESAID IS TO EE APPLIED TOWARDS THE PURCHASE PRICE. TIME IS OF THE ESSENCE OF THIS CONTRACT. DATED THIS llth DAY OF February STATE OF CALIFORNIA) COUNTY OF ALAMEDA)SS ON THIS llth DAY GF February 1985 , BEFORE ME, THE UNDERSIGNED NOTARY PUBLIC, PERSONALLY APPEARED Joseph Eellini KNOWN TO ME TO BE THE PERSON DESCRIBED IN AND WHOSE NAME SUBSCRIBED TO AND WHO EXECUTED THE WITHIN INSTRUMEN AND ACKNOWLEDGED TO ME THAT he EXECUTED THE i� �ir SA " OFFICIAL SEAL HENRY P. DEADRICH • "�'� NOTARY PUBLIC - CALIFORNIA N. ALAMEDA COUNTY My Comm. Expires April 9, 1986 / %Pub sand for the ou ty Xnd State