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6.1 I <br /> Page 16 <br /> Record'u�g Rec�uested by and: <br /> When Recorded Return to: <br /> CITY QF REDWOOD CITY <br /> l0l 7 Middlefield R.oad <br /> Redwood City, California 94063 <br /> Attn: City Manager <br /> This Spuce ror Recorder's Use Oniy <br /> MEMORANDUM OF REAL ESTATE OPTION AGREEMENT <br /> (80 Chemical Wav) <br /> By diis Mamorandum of Real Estate Option Agreement (this "Memorandum") <br /> dated as of October 20, 2010, SCHRADT.R LEASK DEVELOPMENT, INC., a <br /> California corporation ("Owner"), and THE CITY OF REDWOOD CITY, a charter <br /> city and municipal corporation of the State of Ca[ifornia {`°Optionee"}, acicnowledge and <br /> agree ta the following; <br /> 1. Real Estate Ontion Agreement. pursuant to the terms of that certain <br /> unrecorded Real Estate Option Agreement (the "Qption Agreement"), bX and between <br /> Ovv�ier and Optionee, dated as of October 1, 2010, Owner grants to Qptionee the <br /> exclusive right and option to purchase fliat certain real property, consisting of <br /> approximately 0.73 acres of land, having Assessor parcel Number 052-392-I90, located <br /> in the City of Redwood City, County af San Mateo, 5tate of Califomia, as more <br /> particulazly described on Exhibit A attached hereto (the "Property"). <br /> 2. Term. The term of the Option Agreement, and any rights or interest of <br /> Optionee in and to the Property created hereby, shall begin on the date of this <br /> Memoranduni, and shall end no later tl�an Decenxber 31, 2011, and may end earlier as <br /> pro�ided in the Option Agreenient. <br /> 3. Price and Terms. The price and other terms are set forth in the Option <br /> Agreement, all of the terms, covena�rts and conditians of wluch are incoiporated herein <br /> by reference as though set forth fully herein. In the event of any inconsistency betweeii <br /> this Memorandum and the Option Agreement, tl�e Option Agreement shail control. All <br /> capitalized tern�s used herein and not atherwise defined herein shall have the same <br /> meaning as is set forth in the Purchaser Agreemen�. <br /> 4. Ef#'ect Owner and Optionee have executed and recorded this <br /> Memorandum for the purpose of imparting notice of the aption Agreement and the <br /> respective rights and abligations o# Owner and Optionee thereunder. The obligataons of <br /> 1 <br />