Agmt25 Property Purchase agreement

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GRANTOR: PENINSULA BUILDING MATERIALS CO., A NEVADA CORPORATION, APN: 052-394-510,-520,-530,-540 (portion) AS TO AN UNDIVIDED % INTEREST AND GRANITE ROCK COMPANY, A PROJECT PARCEL NO. 64077 CALIFORNIA CORPORATION, AS TO AN UNDIVIDED % INTEREST PROJECT: US HIGHWAY 101 /STATE ROUTE 84(WOODSIDE ROAD) INTERCHANGE IMPROVEMENT PROJECT C. In case of unpredictable delays in construction, upon written notification by the CITY, the terms of the TCE may be extended by an amendment to this Agreement. CITY shall compensate the GRANTOR at the fair market value of the TCE at the time of extension. D. In the event GRANTOR sells, conveys or assigns the property of which the Subject Property is a part, GRANTOR shall notify the successor or assigner of the rights and obligations contained in this Agreement. GRANTOR shall indemnify and hold the CITY harmless from any such claims by any third party for any compensation arising from the TICE described in Exhibit "2" or the construction of the public improvement project. 4. Work Performed All work done under this Agreement shall conform to all applicable building, fire and sanitary laws, ordinances, and regulations relating to such work, and shall be done in a good and workmanlike manner. All structures, improvements or other facilities, when removed, and relocated, or reconstructed, shall be left in as good condition as found. 5. Cost to Cure Damages It is understood and agreed by and between the parties hereto that included in the amount payable under Clause 2(A) above payment in full to compensate GRANTOR for the expense of the following work: Cutting and capping irrigation lines. 6. Hazardous Wastes The Purchase Price reflects the fair market value of the Subject Property in its current "as - is" condition. Provided, however, that GRANTOR represents and warrants to CITY as follows: A. To the best of GRANTOR's knowledge and belief: the Subject Property is not contaminated and no hazardous or toxic materials have been used, discharged or released by GRANTOR, or any of GRANTOR's agents or representatives, on or about any of the Subject Property; ii. No hazardous or toxic materials have been disposed of, on or about the Subject Property; and iii. No litigation or claim exists related to the presence of hazardous or toxic materials on or about the Subject Property. B. GRANTOR has not received any notification(s) from any regulatory agencies regarding the presence of hazardous or toxic materials on the SUBJECT PROPERTY. 7. Right of Possession and Use It is agreed and confirmed by the parties hereto that notwithstanding other provisions in this contract, the right of possession and use of the subject property by the CITY, including the right to remove and dispose of improvements, shall commence on the date the amount of funds as specified in Clause 2(A) herein are deposited into the escrow controlling this transaction. The amount shown in Clause 2(A) herein includes, but is not limited to, full payment for such possession and use, including damages, if any, from said date. 42age 3 of 16-- -- 4880-0380-6390 v2 REV: 06-23-25 LR ATTY/AGR.2025.154/Peninsula Building Materials Co. and Granite Rock Company (SR 84/U.S. 101 Interchange Reimagined) (Page 3 of 16)