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- 1 - PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS THIS PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (the “Agreement”) is entered into as of ____________, 2025 (the “Effective Date”), by and between the City of San Leandro, a California municipal corporation and charter city (“City”), and KK Eden Properties, LLC, a California limited liability company (“Purchaser”). City and Purchaser are collectively referred to herein as the “Parties.” RECITALS A. City is owner of an unimproved dirt and gravel strip of real property within the boundaries of the City used by the City, adjacent businesses and the public for roadway purposes, known as Eden Road (the “Property”). The Property is designated as Alameda County Assessor’s Parcel Number 042-4530-005-02, and more particularly described in Exhibit A attached hereto and incorporated herein. B. The Purchaser owns certain other parcels of real property that are located adjacent to the Property (the “Adjacent Parcels”). C. Alco Iron & Metal Co., a California corporation ("Applicant"), has applied to the City for a conditional use permit (“CUP”) to use a portion of the Adjacent Parcels for Applicant’s business under Planning Application #PLN21-0027. As a condition to issuance of the CUP, City and/or other relevant agencies with regulatory authority have indicated that Applicant must make certain improvements to Eden Road. D. City, Applicant and Purchaser have entered into an Eden Road Public Improvement Agreement (“Public Improvement Agreement”), dated March 19, 2024, which provides for City to sell the Property to Purchaser, and for City, Applicant and Purchaser to perform certain obligations relating to the design, permitting and construction of improvements to Eden Road on the Property, for the City to pay Applicant One Million Dollars ($1,000,000) upon Applicant’s receipt of all permits for such project and Two Million Dollars ($2,000,000) within 30 days following completion of Eden Road, for certain public utility easements to be granted with respect to such obligations, and for the ongoing maintenance of Eden Road (the “Eden Road Project”). E. The City Council has made a finding that the Property is “exempt surplus land” pursuant to Government Code Section 54221(f) of the Surplus Land Act, as it is surplus land that is a former street, right of way, or easement, and is conveyed to an owner of an adjacent property. F. The City has conducted a valuation of the Property which has determined that the Property has no value, because of the extraordinary cost of the improvements to be made to the Property, together with extraordinary costs of future maintenance. G. Purchaser agrees to purchase the Property, and City agrees to sell the Property to Purchaser, subject to the terms and conditions of this Agreement.