Agmt 2017 Amend No. 1 BAU Bay Area Urban Development, LLC 3190

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FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (this "Amendment"), is entered into as of October 4, 2017, by and between the Successor Agency for the Redevelopment Agency of the City of San Leandro, a public agency ("Seller") and BAU Bay Area Urban Development, LLC, a Delaware limited liability company ("Buyer"), and amends that certain Purchase and Sale Agreement and Joint Escrow Instructions dated June 27, 2017 (the "Agreement") by and between Buyer and Seller. Seller and Buyer are collectively referred to herein as the "Parties." Capitalized terms used without definition herein have the meaning ascribed to such terms in the Agreement. RECITALS A. Pursuant to the Agreement, Buyer has agreed to purchase Alameda County Parcel Number 079A-0568-005-00 (the "Property"). B. Buyer desires to extend the Due Diligence Contingency Period with respect to the review of the Properties to January 9, 2018, and Seller has agreed to the extension. C. Buyer has further requested to extend the Closing Date to February 8, 2018. NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained in this Agreement, and other good and valuable consideration, the receipt and adequacy of which .is hereby acknowledged by the Parties, Seller and Buyer hereby agree as follows: Section 1. Recitals. The above recitals are true and the recitals, and defined terms set forth therein, are incorporated into this Amendment by this reference. Section 2. Due Diligence Contingency Period. Section 5.2(a) of the Agreement is hereby amended to extend the Due Diligence Contingency Period to end on January 9, 2018. Section 3. Closing. Section 5.1 of the Agreement is hereby amended to extend the Closing Date to February 8, 2018. In the event the Closing has not occurred due to a delay beyond the Buyer's control, then Close of Escrow may be extended up to an additional twenty (20) days (the "Extension Period") at the sole discretion of the Executive Director of the Seller. If Close of Escrow has not occurred by the end of the Extension Period, Buyer may elect to terminate this Agreement. Section 4. Severability. If any term of this Amendment is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the provisions shall continue in full force and effect unless the rights and obligations of Landlord or Tenant are materially altered or abridged by such invalidation, voiding or unenforceability. 1