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EDEN DOUSING 1900 Broadway in Redwood City. The City of Redwood City has required that the 847 Woodside and 1900 Broadway gbtain planning approvals concurrently. Buyer and Seller will work together "to entitle the 847 Woodside project prior to conveyance. Broker Commission: Each party represents to the other that no broker has been involved in this transaction and no broker fees will be incurred. Purchase and SaleAgreement: '�- Within one hundred twenty (120) days of mutual acceptance of this Letter of Intent together with.any plodifications agreed to by Buyer and Seller, Buyer shall have a Purchase and Sales Agreement (PSA) drawn up and delivered to Seller: Buyer will prepare the Purchase and Sale Agreement. ' Should Buyer aid Seller fail to reach agreement within 120 days from receipt on a.final Purchase and Sales Agreement, this Letter of Intent shall have no further effect and neither party shall have any obligation to the other party. Conveyance:, Seller shall convey the Property vacant. Due Dili ence: In addition to other standard conditions (i.e. Phase 1 environmental report, no hazardous materials, compliance with all laws, zoning for use, certificate of occupancy, business financial records, estoppels, as well as those additional estoppels required by lender, etc.), buyer's obligations to complete this transaction shall be contingent upon its satisfaction with the results of its investigation of all aspects of the property, including but not limited to, current obligations, any property discussions, financials, the title condition, any existing reports (including any environmental reports) on the property held by the Seller, the as - built survey, discussions with representatives of the ownership, the local planning department and the zoning. If purchaser, in its sole and absolute discretion, is not satisfied with any of the above conditions, or any other condition, then it may terminate the Purchase and Sale Agreement by written notice to Seller and receive the return of its deposit without any Iiability. The due diligence period for investigation of the property shall be 45 (forty-five) calendar days from the later of the delivery of all pertinent documents pursuant to the definitive agreement or the effective date of the PSA ("Due Diligence Period"). Closing Costs: Buyer to be responsible for the costs of the ALTA policy of title insurance, including a record of survey, all city and county transfer taxes and the escrow and recording fees. Buyer shall be responsible for Buyer's legal fees, and inspection costs.. Closing Date: Closing must occur prior to or concurrent with issuance of the first building permit for the 1900 Broadway project. Exclusive : During the period from acceptance of this Letter of Intent and either acceptance of a final Purchase and Sales Agreement or the expiration of the time provided for acceptance of a final 22645 Grand Street I Hayward, CA 94541 ; Tel: 510-582-146 1 edenhousing,org ATTY/AGR/2024.193.1-AFFORDABLE HOUSING LAND DONATION AGREEMENT- EXHIBIT 8 -AFFORDABLE HOUSING PLAN REV: 10-22-24 VR Page 38 of 48