Laserfiche WebLink
EXHIBIT E <br /> <br /> PURCHASE AND SALE AGREEMENT <br /> <br /> This Purchase and Sale Agreement ("Agreement") is made and entered into this 174 <br />day of April , 2001 (the "Agreement Date") and is entered into by and <br />between the City of Redwood City, a municipal corporation, ("Seller") and Shores <br />Childcare, LLC, a California limited liability company ("Buyer"), with respect to the <br />following facts: <br /> <br /> A. Seller will become the owner of an undivided interest in that certain <br /> leasehold estate created pursuant to that certain Ground Lease between the parties <br /> hereto dated At~ril 17t~ ,2001 with respect to that certain parcel of real <br /> property situated in the City of Redwood City, County of San Mateo, State of <br /> California more particularly described in Exhibit "A" attached hereto (the <br /> "Land"). Said undivided interest in the leasehold estate, including the lessee's <br /> interest in the improvements to be constructed upon the Land, is referred to herein <br /> as the "Property." <br /> <br /> B. Buyer wishes to buy from Seller, and Seller wishes to sell to Buyer, the <br /> Property upon the terms and conditions hereinafter set forth. <br /> <br /> NOW, THEREFORE, the parties hereto agree as follows: <br /> <br /> 1. Definitions. <br /> <br /> a. The "Close of Escrow" shall mean the moment when the Grant <br />Deed is recorded in the office of the County Recorder of the County in which the <br />Property is located in accordance with this Agreement. <br /> <br /> b. The "Construction Loan" shall mean the loan secured by Buyer for <br />the purpose of constructing the Building and other improvements as required by the te~ms <br />of the Ground Lease. <br /> <br /> c. The "Escrow Holder" and "Title Company" shall mean the <br />Redwood City office of First American Title Company. <br /> <br /> d. The "Assignment" shall mean a document conveying the Property. <br /> <br /> e. The "Title Policy" shall mean a joint protection California Land <br />Title Association Standard Coverage owner's policy of title insurance, foxm 1990. <br /> <br /> f. The "Permitted Exceptions" shall be items 1 thru 6 as <br />shown on Schedule C of the Preliminary Report. <br /> <br /> g. The "Preliminary Report" shall mean the preliminary title report <br />issued by the Title Company dated November 28th ,2000. <br /> <br /> <br />