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STATE OF CALIFORNIA • DEPARTMENT OF TRANSPORTATION PURCHASE AND SALE AGREEMENT - DIRECT SALE <br />RW 16-5 (NEW 10/2016) <br />ADA Notice For individuals with sensory disabilities, this document is available in alternate formats. For alternate format information, contact the Forms Management Unit <br />at (916) 445-1233, TTY 711, or write to Records and Forms Management, 1120 N Street, MS-89, Sacramento, CA 95814. <br />THIS PURCHASE AND SALE AGREEMENT (this "Agreement") is entered into as of May 10th, 2023, by and between the State of California, <br />Department of Transportation ("Caltrans") and the City of San Leandro (“Purchaser”) <br />Recitals <br />A.Caltrans owns the real property commonly known as DD-021647-X1-X1 (the "Property") and more particularly described as set forth in <br />Exhibit A attached hereto. <br />B.Purchaser is CITY OF SAN LEANDRO <br />C.The parties wish to provide terms and conditions for Purchaser's purchase of the Property from Caltrans. <br />NOW THEREFORE, the parties agree as follows: <br />Section 1. Purchase and Sale <br />Caltrans shall sell the Property to Purchaser and Purchaser shall purchase the Property from Caltrans on the terms and conditions stated in this <br />Agreement. <br />Section 2. Purchase Price <br />The purchase price for the Property shall be TWENTY-TWO THOUSAND THREE HUNDRED DOLLARS [$22,300.00] ("Purchase Price"). <br />The Purchase Price shall be paid by Purchaser as set forth below: <br />(a) Receipt is hereby acknowledged of TWENTY-TWO THOUSAND THREE HUNDRED DOLLARS ($22,300.00), representing 100% of the <br />"Purchase Price", in the form of a (cashier’s check/certified check/money order) made payable to the “California Department of <br />Transportation". <br />(b)Liquidated Damages: THE PARTIES AGREE THAT 10% OF THE PURCHASE PRICE IS A REASONABLE SUM FOR LIQUIDATED <br />DAMAGES SHOULD THIS TRANSACTION FAIL TO CLOSE DUE TO A MATERIAL BREACH OF THIS AGREEMENT BY PURCHASER, <br />IN THAT, WHEN CONSIDERING ALL THE CIRCUMSTANCES EXISTING ON THE DATE OF THIS AGREEMENT, IT WOULD BE <br />IMPRACTICABLE OR EXTREMELY DIFFICULT TO FIX THE ACTUAL DAMAGES. BY PLACING THEIR INITIALS AT THE PLACES <br />PROVIDED, EACH PARTY AGREES THAT THE FOREGOING CONSTITUTES LIQUIDATED DAMAGES AND NOT A FORFEITURE OR <br />PENALTY. <br />Purchaser ; Caltrans [Initials of Purchaser and Caltrans] <br />Section 3. Closing and California Transportation Commission Approval <br />Purchaser understands and agrees that this sale is subject to the approval by the CTC. In the event the CTC fails to approve the sale, all <br />monies paid by the Purchaser will be refunded without interest. Caltrans makes no representations or warranty concerning the CTC's approval <br />of this sale. <br />Section 4. Close of Escrow <br />Caltrans will maintain an internal escrow at no charge to Purchaser. Purchaser may open an external escrow at Purchaser's expense but <br />selection of the escrow company is subject to Caltrans' approval, which Caltrans may withhold for any reason within its discretion. Should <br />Purchaser elect to open an escrow, Purchaser agrees to pay any and all fees associated with the escrow, and any and all recording fees, <br />documentary transfer taxes or any other real estate transaction fees involved in the transaction.