Agmt20 Greystar GP II,LLC - 1306 Main Street

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ATTY/AGR/2020.257/REDWOOD CITY GREYSTAR PURCHASE AND SALE AGREEMENT 1306 MAIN STREET REV: 12-14-2020 VR Page 70 of 82 AGREEMENT 1. Definitions. When used in this Agreement, the following terms shall have the respective meanings assigned to them in this Section 1. Capitalized terms used, but not defined in this Agreement, shall have the meaning set forth in the Purchase Agreement. (a) "Agreement" shall mean this Option to Purchase Agreement. (b) "Building F Financing Plan" shall mean the Owner's financing plan for the development of the Property approved by the City pursuant to the Purchase Agreement. (c) "City" shall mean the City of Redwood City, a charter city and municipal corporation, or any successor or assign. (d) "Effective Date" shall mean the date of this Agreement as first written above. (e) "Grant Deed" shall mean the grant deed in a form approved by the City executed by the Owner in favor of the City for the conveyance of the Property. (f) "Official Records" shall mean the official records of the County of San Mateo. (g) "Option" shall mean the option to purchase the Property as set forth in this Agreement. (h) "Owner" shall mean GS HIP 1304 ECR Owner, LP, a California limited partnership , and its successors and assigns as permitted pursuant to the Purchase Agreement. (i) "Parties" shall mean, collectively, the City and the Owner. "Party" means either the City or the Owner. (j) "Property" shall mean the real property more particularly described in Exhibit A, commonly known as 1304 El Camino Real, Redwood City, California. (k) "Purchase Agreement" shall mean that certain Purchase and Sale Agreement and Joint Escrow Instructions dated as of ______________, 20__, by and between the Parties, as may be amended from time to time. The Purchase Agreement is a public document, and is on file with, and available from, the City. (l) "Replacement Housing Units" has the meaning given in the Purchase Agreement. (m) “Replacement Unit Completion Date” has the meaning given in the Purchase Agreement. (n) "Security Financing Interests" means any and all mortgages, deeds of trust, and other security instruments recorded against the Property by the Owner pursuant to the Building