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i <br /> 6.1 I <br /> Page 21 <br /> Recording Requested by and: <br /> When Recorded Return to: <br /> CTTY OF REDWOOD CITY <br /> 1017 Midcilefield Road <br /> Redwood City, fralifornia 94063 <br /> Attn: City Manager <br /> Tbis Spacc For Raordcr's Usc Onty <br /> MEMQRANDUM OF REAL ESTATE OPTION AGREEMENT <br /> (70 Chemical Wav) <br /> By this Meinorandum. of Real Estate Optian A�reemant (this "Memorandum"} <br /> dated as of October 20, 2010, KONA VENTU�tFS, LLC, a California limited liability <br /> company ("Owner"}, and THE CITY OF REDWOOD CITY, a charter city and <br /> municipal corporation of the State of CalifoTnia ("Optionee'�, acknowledge and agree to <br /> the following: <br /> 1. Real Estate Option Agreement. Pursuant to die temis of that certain <br /> unrecorded Real Estate Option Agzeement (the "Option Agreement"), by and between <br /> Owner and Optianee, dated as of October 1, 2010, Owner grants to Optionee the <br /> exclusive right and option to purchase that certain real property, consisting of <br /> approximately 0.956 acres of land, having Assessor Paz�cel Number 052-392-200, located <br /> in die City of Redwood City, County of San Matea, State of Califomia, as more <br /> particularly described on Exhibit attached hereto (tbe "Property"). <br /> 2. rer . 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 /> Memorandum, and shall end no later tl�an Decernber 31, 201 I, and may end earlier as <br /> provided in the Option Agreement. <br /> 3. Price and Terms. The price and other terms are set fortl� in the Option <br /> Agreement, all of the terms, covenants and conditions of which are incorporated herein <br /> by reference as though set forth fully herein. In the event of any inconsistency between <br /> this Memorandum and the Option Agreement, the Optian Agreement shall control. All <br /> capitaIized terms used herein and not otherwise defined herein shall have the same <br /> meaning as is set forth in the Purchaser Agreement� <br /> 4. Effeet. Owner and Optionee have executed and recorded this <br /> Memorandum for the purpose of imparting notice of the Option Agreernent and the <br /> respective rights and obligations of Owner and �ptionee ther�under. Ihe obligations of' <br /> 1 <br />