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78 Page 26 ATIACHMENT NO.2 SUMMARY OF AGREEMENT OF SALE AND PURCHASE DATED AS OF APRIL 16, 2009 Seller: Lonestar California, Inc., a Delaware corporation, an affiliate of CEMEX Corp. Prooerty: Approximately 9.563 acres located at 1402 - 1450 Maple Street, Redwood City. Approximately four acres of the Property is in an active tidal influence zone (i.e., wet twice daily). Purchase Price: $4,450,000. Earnest Money Deposits: . Non-Refundable Deposit: . Refundable Deposit*: $ 500 $100,000 *Fully refundable until June 3, 2009. Closing Date: . Closing is scheduled for June 11, 2009. . Seller is granted two (2) options to extend the closing until July 14,2009, and August 13,2009, respectively. These extension options may be exercised by Seller only if Seller requires additional time to deliver possession free of tenants and subtenants. The extension options must be exercised, if at all, at least two business days before the scheduled Closing Date. Feasibilitv Period. . The City has until June 3, 2009 ("Feasibility Period"), to perform inspections and other due diligence of the Property to determine whether the Property is suitable for the City's intended uses. . The City is authorized to perform physical inspections, including geological, engineering and environmental studies, including taking core samples and other testing within the scope of a "Phase II" environmental study. . During the Feasibility Period the City may review the condition of title to the Property and all documents in the Seller's possession or under its reasonable contro 1. . The City in its sole and absolute discretion may cancel the Agreement at any time before expiration of the Feasibility Period if it is dissatisfied with the results of its inspection and feasibility studies of the Property. In such event, the Refundable Deposit is to be returned to the City. 1