Agmt25 Property Purchase Agreement Woodside Road Interchange Improvement Project

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Docusign Envelope ID: E798FFDB-2346-4993-A39D-3A6381A6D239 GRANTOR: FN VETERANS LLC, A CALIFORNIA LIMITED LIABILITY COMPANY APN: 052-431-010 (portion of) PROJECT PARCEL NO. 64076 PROJECT: US HIGHWAY 101 / STATE ROUTE 84 (WOODSIDE ROAD) INTERCHANGE IMPROVEMENT PROJECT 13. Approval of the CITY GRANTOR understands that this Agreement is subject to the approval of the CITY. Further, that this Agreement shall have no force or effect unless and until said CITY approval has been obtained. 14. Authority to Sign GRANTOR and the signatories represent and warrant that the signatories to this Agreement are authorized to enter into this Agreement to convey real property and that no other authorizations are required to implement this Agreement on behalf of GRANTOR. 15. Integrity of Property Except as otherwise provided herein or by express written permission granted by the CITY, GRANTOR shall not, after the date of execution of this Agreement and the close of escrow, alienate, lien, encumber or other transfer of the Subject Property or any portion thereof or allow the same to occur, cause or allow any physical changes on the Subject Property, or enter into any lease or contract with respect to the Subject Property or any portion thereof which would survive the close of escrow and impair the CITY's or its designees or assignees use of the Subject Property. 16. Casualty or Loss If, prior to the close of escrow, GRANTOR becomes aware that all or any material portion of the Subject Property has been destroyed, or substantially damaged, GRANTOR shall promptly give the CITY written notice of the event, and the CITY, at its option, may, on or before the close of escrow, elect to terminate this Agreement by giving GRANTOR written notice of termination, in which event the parties shall be relieved and released of and from any further duties, obligations, rights, or liabilities hereunder. If the CITY elects to complete the transactions contemplated in this Agreement, the Agreement shall remain in full force and effect and the purchase contemplated herein shall be consummated with no further adjustment or modification, and at the close of escrow, GRANTOR shall assign, transfer, and set over to the CITY all of the right, title, and interest of GRANTOR in and to any insurance proceeds resulting from any casualty or any awards that have been or may thereafter be made. Such set over may be made at close of escrow by crediting the amounts of any such proceeds and/or awards against the amounts by the CITY for the Subject Property under this Agreement. 17. Notices. Any notice, demand or request required or permitted hereunder shall be given in writing at the addresses set forth below by any of the following means: (a) personal service; (b) telephonic facsimile with telephonic confirmation of receipt; or (c) nationally recognized overnight commercial mail service. TO CITY: City of Redwood City Engineering and Transportation Department Attn: Tanisha Werner, P.E., City Engineer 1017 Middlefield Road Redwood City, CA 94063 Phone: (650) 780-7370 E-mail: Twerner@redwoodcity.org 4880-0380-6390 v2 REV: 05-23-25 LR ATTY/AGR.2025.121/FN Veterans LLC (1475 Veterans) (SR84/US101 Interchange Project) (Page 5 of 18)