Annexation - Washington Manor (15000 pop) , 1006.37 Acres, Ord 1052, 05-20-1957

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As for the remainder of the rent, to be paid by Lessee, Lessee agrees to assume and to pay the indebtedness of both principal and interest in connection with that "00,000.00 band Issue of WASHINGTON MANOR COMdtUPJITY SERVICES DISTRICT dated December 153, 19555, which re;:iains unpaid on January 1, 196h., or which remains unpaid at that time that the level of park and recreation dove l opment elsewhere within the CITY OF SAN Li ANDRO shall equal the development within that area now known as WASHINGTON DUANOR Co?,011MITY SERVICES )ISTRICTs whichever occurs sooner. It is the intent of the parties that property owners within that area now known as r`JASMITIGTON MANOR CODXAAJITY SERVICES DISTRICT shall be completely relieved of any tax or obligation to pay principal and interest on the said $300,000.00 bond issue after January 1, 1961E_, or such earlier time as is herein provided. FOUR: The premises are leased to Lessee for the purpose of a public park. FIVE: This lease is intended by the parties to be and shall also be a third -party beneficiary contract for the benefit of the property owners within WASHINGTON IMIOR CMMUNITY SERVICES DISTRICT whose property is subject to a lien for the payment of the bond principal and interest above -mentioned. Lessee hereby acknowledges that it represented to property owners and voters within 4VASHINGTON MAMR COlW.LJITY SERVICES DISTRICT that this lease with the rental provisions herein contained would be executed by Lessee if property owners and voters of WASHINGTON MANOR COISJ'R UNITY SERVICES DISTRICT voted to annex to the CITY OF SAID LEANDRO. Lessee intended that voters and property owners within WASNINGTON MANOR C011IUNITY SERVICES DISTRICT rely on this repre- sentation and it is hereby acknowledged by Lessee that property owners and voters within UASHINGTOIT 'rfi 1011 COLfUNITY SERVICE'S DISTRICT did rely on the said representation. -L-