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JAH:djm 03/06/90R (REDEV) JAH:djm 03/19/90R JAH:djm 04/04/90R G -------------------------- PR 334978 H -------------------------- PR 334981 I -------------------------- PR 334977 J -------------------------- PR 334980 K -------------------------- PR 334972 L -------------------------- PR 334982 These nine parcels hereinafter will be referred to collectively as the "Acquisition Parcels". Title to and right of possession of the Acquisition Parcels will be acquired by the Agency and conveyed to the Developer in accordance with Article 3 hereof. The Agency's duty under this Agreement to acquire and convey the Acquisition Parcels to the Developer extends only to the aforesaid nine parcels as each is described in the Preliminary Report for each property prepared for the Agency by First American Title Insurance Company ("Title Company") as of March 26, 1990. The Developer acknowledges and agrees that the Agency has no duty under this Agreement or otherwise to acquire or convey to the Developer any other land lying within the Project Site, except as may be required by mesne conveyance pursuant to Section 202. Article 3. PROVISIONS RELATING TO ACQUISITION PARCELS. §301 Sale and Purchase In accordance with and subject to all of the terms, covenants and conditions of this Agreement, the Agency will acquire the Acquisition Parcels, by eminent domain, if necessary, and sell and convey the Acquisition Parcels to the Developer, and the Developer will purchase and accept the conveyance of the Acquisition Parcels from the Agency and develop and build the Project on the Project Site within the times, for the consideration, for the uses and subject to the terms and conditions of this Agreement. §302 Method of Financing Acquisition This Agreement constitutes, in part, a financing plan for the acquisition of the Acquisition Parcels by the Agency, utilizing a combination of advances and future loans from the Developer, and future contributions by the Agency and the City of Tax Increment and Sales and Use Taxes received by the Agency and the City from the Project as ultimately developed by the Developer, subject to possible recoupment of the Sales and Use Taxes by the City under Section 805 of this Agreement; accordingly this Agreement constitutes a contract, obligation and evidence of indebtedness within the meaning of Section 53511 of the California Government Code. The financing plan is more specifically set forth in the following sections of this Agreement.