Inst 2010 Easement CIPP Lot 1 - Laserfiche WebLink

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Recording Requested by and when recorded return to: City of San Leandro 835 East 14th Street San Leandro, CA 94577 Attention: City Manager EXEMPT FROM RECORDING FEES PER GOVERNMENT CODE &&6103. 27383 use. GRANT OF EASEMENT AND DECLARATION OF RESTRICTIONS (Negative Easement Preventing Development -Lot 1 of Tract 8010) For valuable consideration, receipt of which is hereby acknowledged, Chang Income Property Partnership, L.P., San Leandro Land Series (R11), a Delaware limited partnership ("Grantor") hereby grants to the City of San Leandro, a municipal corporation ("Grantee"), a permanent negative easement giving Grantee the right to prevent development on that certain real property situated in the City of San Leandro, County of Alameda, State of California, described and depicted in Exhibit A attached hereto and incorporated herein by this reference (the "Property"). Grantee's right to prevent development shall mean the ability to prevent any form of development on the Property (other than the Improvements applicable to the Property as identified in the Improvement Agreement (defined below)), including grading, and shall include the right to withhold the issuance of any permits, authorizations, or approvals for development on the Property (including without limitation, grading and building permits) to which the applicant for such permits, authorizations, or approvals might otherwise be entitled under California law or Grantee's rules and regulations. This Grant of Easement and Declaration of Restrictions (this "Grant of Easement") is delivered pursuant to that certain Improvement Agreement for Tract 8010, a subdivision of land on Martinez Street, San Leandro, dated as of ~,1-,. ~ ~ , 2010 and recorded in the Official Records of Alameda County substantially concurrently herewith (the "Improvement Agreement"). Notwithstanding any contrary provision in this Grant of Easement or the Improvement Agreement, Grantee will not have the right to prevent development on the Property if either: (a) construction of the Improvements required for the Property (as described in Section 5.1 of the Improvement Agreement) has been completed and accepted by Grantee, or (ii) bonds or other security as described in Paragraphs A and B of Section 5.3 of the Improvement Agreement have been provided to Grantee in the amount required by the Improvement Agreement for the Property and in form acceptable to Grantee. 1328544-5