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Purchase Agreement
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Seaport Centre Owner's Association - Purchase Agreement
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Purchase Agreement
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Last modified
11/18/2025 4:05:57 PM
Creation date
11/18/2025 4:00:50 PM
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Agreement
Contractor Name
HCP LS Redwood City, LLC Metropolitan Life Insurance Company Seaport Centre Owner's Association
RMP File Number
304
Date
10/23/2025
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ARTICLE IX <br />CLOSING <br />Section 9.1 Procedure. The Parties shall deliver the following documents and funds as <br />indicated below and cause to occur at the Closing on the Closing Date the following: <br />(a) The Grant Deeds, duly executed and acknowledged by HCP and <br />Met Life, respectively, and Certificates of Acceptance in the form of Attachment 5, duly <br />executed and acknowledged by City, shall be delivered to Title Company to be recorded in the <br />Official Records of the County of San Mateo, California, at Closing. <br />(b) The Easement Deeds, duly executed and acknowledged by HCP <br />and Met Life, respectively, and Certificates of Acceptance in the form of Attachment 5, duly <br />executed and acknowledged by City, shall be delivered to Title Company to be recorded in the <br />Official Records of the County of San Mateo, California, at Closing. <br />(c) The Quitclaim Deeds, duly executed and acknowledged by SCOA, <br />and Certificates of Acceptance in the form of Attachment 5, duly executed and acknowledged by <br />City, shall be delivered to Title Company to be recorded in the Official Records of the County of <br />San Mateo, California, at Closing. <br />(d) The Encroachment Easement Deed and Quitclaim Deed, duly <br />executed and acknowledged by Stanford and Certificates of Acceptance in the form of <br />Attachment 5, duly executed and acknowledged by City, shall be delivered to Title Company to <br />be recorded in the Official Records of the County of San Mateo, California, at Closing. <br />(e) Two (2) counterparts of a General Assignment for each Seller in <br />the form of Attachment 8 attached hereto (the "General Assignment") shall be duly executed by <br />each Seller and City, and Title Company shall deliver to City and each Seller at Closing an <br />original of the fully -executed General Assignment for each Seller. <br />(f) Each Seller shall date as of the Closing Date, execute and deliver <br />to City at Closing, a Certificate(s) of Non -Foreign Status in accordance with Section 1445 of the <br />Internal Revenue Code of 1986, as amended, and the Income Tax Regulations thereunder in the <br />form attached hereto as Attachment 7. <br />(g) Each Seller shall date as of the Closing Date, execute and deliver <br />to Title Company for delivery to City at Closing, its Seller's Closing Certificate. <br />(h) City shall date its Buyer's Closing Certificate as of the Closing <br />Date and execute and deliver such certificate to Title Company for delivery to Seller at Closing. <br />(i) The Title Company shall issue to City the Title Policy. <br />Section 9.2 Possession. Each Seller shall deliver title to and possession of the Levee <br />Assets it owns to City in the condition required by Section 3.1 on the Closing Date. <br />15 <br />4846-4218-3288 v36 <br />2025.276 - SEAPORT PURCHASE AGREEMENT <br />REV: 10-15-25 VR <br />
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