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17 +' FirSi American Tiile Co. <br />FSc tow # b1c.5 - S-4 111 411 <br />Recording Requested by <br />and when Recorded, return to: <br />City of San Leandro <br />835 East 14"i Street <br />San Leandro, CA 94577 <br />Attention: City Manager <br />EXEMPT FROM RECORDING FEES PER CALIFORNIA <br />GOVERNMENT CODE §§6103, 27383 <br />(0. <br />2013395393 12/31/2013 11:20 AM <br />OFFICIAL RECORDS OF ALAMEDA COUNTY <br />PATRICK O'CONNELL <br />RECORDING FEE: 0.00 <br />ip1'1VIPNIINI1'IVIVI1'IVII1V• <br />PGS <br />MID <br />A03 <br />fI <br />APN: 077-0540-009 (SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE) <br />GRANT DEED <br />For valuable consideration, the receipt and sufficiency of which are hereby <br />acknowledged, the City of San Leandro, a municipal corporation ("Grantor") acting for <br />itself and in its capacity as the Successor Agency to the Redevelopment Agency of the City <br />of San Leandro, hereby grants and conveys to Innisfree Ventures II, LLC, a California <br />limited liability company (the "Grantee"), the real property (the "Property") described in <br />Exhibit A attached hereto and incorporated in this grant deed ("Grant Deed") by this <br />reference. <br />1. The Property is conveyed subject to that certain Disposition and Development <br />Agreement entered into by and between the Grantor and the Grantee dated as of June 1, <br />2012 (the "DDA"). The Grantor and the Grantee have executed a Memorandum of Option <br />and Disposition and Development Agreement dated as of the date of this Grant Deed (the <br />"Memorandum") which shall be recorded in the Official Records of Alameda County <br />("Official Records") substantially concurrently herewith. The Property is further conveyed <br />subject to certain requirements, including without limitation those set forth in that certain <br />Regulatory Agreement and Declaration of Restrictive Covenants Regarding Maintenance of <br />Public Improvements executed by and between Grantor and Grantee, dated as of the date <br />hereof (the "Regulatory Agreement") and recorded substantially concurrently herewith. <br />2. The Grantee hereby covenants and agrees, for itself and its successors and assigns, <br />that the Grantee and such successors and assigns shall promptly begin and diligently <br />prosecute to completion the redevelopment of the Property through the construction of new <br />improvements (collectively, the "Improvements") in accordance with the DDA, including <br />without limitation the provisions of the DDA that specify time periods for commencement <br />and completion of construction. Promptly following completion of the Project (as defined in <br />the DDA) in accordance with the DDA and the issuance of a certificate of occupancy for the <br />Improvements, the Grantor will furnish the Grantee with an instrument so certifying (a <br />"Certificate of Completion"). Such Certificate of Completion shall constitute conclusive <br />determination of satisfactory completion of construction of the Improvements and <br />compliance with the covenants in the DDA and in this Grant Deed regarding the dates for <br />the commencement and completion of such construction. <br />3. The Grantee hereby covenants and agrees, for itself and its successors and assigns, <br />