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GRANTOR: PENINSULA BUILDING MATERIALS CO., A NEVADA CORPORATION, APN: 052-394-510,-520,-530,-540 (portion)
<br />AS TO AN UNDIVIDED % INTEREST AND GRANITE ROCK COMPANY, A PROJECT PARCEL NO. 64077
<br />CALIFORNIA CORPORATION, AS TO AN UNDIVIDED % INTEREST
<br />PROJECT: US HIGHWAY 101 / STATE ROUTE 84 (WOODSIDE ROAD) INTERCHANGE IMPROVEMENT PROJECT
<br />8. Escrow Instructions
<br />GRANTOR hereby authorizes the CITY to prepare and file escrow instructions in accordance
<br />with this Agreement on behalf of both parties.
<br />9. Binding on Successors and Assigns
<br />This Agreement shall be binding on and inure to the benefit of the respective heirs,
<br />successors and assigns of the parties to this Agreement.
<br />10. No Leases
<br />GRANTOR warrants that there are no oral or written leases on all or any portion of the Subject
<br />Property exceeding a period of one month, and GRANTOR further agrees to hold the CITY
<br />harmless and reimburse the CITY for any and all of its losses and expenses occasioned by
<br />reason of any lease of said Subject Property held by any tenant of GRANTOR for a period
<br />exceeding one month.
<br />11. Quitclaim Deeds
<br />If any leases are identified in Clause10 herein, as a condition precedent to approval of this
<br />Agreement by the CITY, Quitclaim Deeds or similar releases sufficient to clear any
<br />possessory rights from the Subject Property will be required. GRANTOR agrees to assist the
<br />CITY in securing said Quitclaim Deeds or releases prior to the close of escrow.
<br />12. Mutual Release of Claims
<br />GRANTOR, for itself, its agents, assigns, successors in interest, and any related or affiliated
<br />entities, and the CITY, for itself, its elected and appointed officials, agents, employees, officers,
<br />directors, divisions, attorneys, accountants, insurers, successors, and other representatives,
<br />and any and all related or affiliated private or public agencies or entities, hereby fully release
<br />and discharge each other from any and all causes of action, actions, judgments, liens,
<br />indebtedness, obligations, losses, claims, damages, liabilities, and demands, including without
<br />limitation any claim arising out of or pertaining, directly or indirectly, to the acquisition of the
<br />Subject Property described in this Agreement and the construction of any improvements
<br />thereon, including without limitation, appraisal costs, inverse condemnation, nuisance,
<br />severance damages, the cost or value of any equipment or fixtures, attorneys' and witness
<br />fees and costs, loss of goodwill, construction -related dust, noise, traffic and other related
<br />construction activity, and lost rentals or business associated with construction of any
<br />improvements, and any other types of related losses or damages. Notwithstanding the
<br />foregoing or any other provisions of this Section 12, CITY reserves all rights related to any
<br />misrepresentation or any other inaccuracy related to GRANTOR's representations and
<br />warranties set forth in Section 6 above.
<br />Except as provided in the representations and warranties contained herein, both parties
<br />acknowledge that they may hereafter discover facts or law different from, or in addition to, that
<br />which they now believe to be true with respect to their release of claims as set forth in this
<br />Agreement, and understand that by executing this Agreement they are waiving any rights of
<br />claims for any other or future benefits or damages to which they might be entitled which are
<br />not specifically exempted herein. In giving this release, both parties expressly waive the
<br />protection of Civil Code Section 1542, which statute provides as follows:
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<br />4880-0380-6390 v2
<br />REV: 06-23-25 LR
<br />ATTY/AGR.2025.154/Peninsula Building Materials Co- and Granite Rock Company (SR 84/U.S. 101 Interchange Reimagined) (Page 4 of 16)
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