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i . <br /> 6.1 I <br /> Page 35 <br /> R.ecording Requested by and: <br /> When Reoorded Return to: <br /> CITY OF REDWOOD CITY <br /> 1017 Middlefield Road <br /> Redwood City, Califomia 94063 <br /> Attn: City Mauiager <br /> This Spaee For Recorder's Use Only <br /> 1Vi�MORANDUM OF REAL ESTATE OPTION AGRE�MENT <br /> (24 C6emical Wav) <br /> By this Memorandum of Real Estate Qption A.greement (this "Memorandum") <br /> dated as of �ctober 20, 201 Q, CHEMICAL WAY PROPERT�ES, LLC, a California <br /> limited liability company ("Owner"), and THE C1TY OF REDWOOD CITY, a chazter <br /> city and municipal corporation of the State of California ("Optionee"), acknowledge and <br /> agree to the following: <br /> 1. Real Estate Oution Agreeraent, Pursuant to the ternis of that certain <br /> uruECarded Real Estate 4ptian Agreement {the "Option Agreement"), by and between <br /> Qwner and Optionee, dated as of October 1, 2014, Owner grants to Optionee the <br /> exclusive right and option to purchase that certain reat property, consisting of <br /> approximately I.03 acres of land, having Assessor Pareei Numbers 0�2-392-240 and <br /> 052-392-27Q, lacated in the City of Redwood City, County of San Mateo, State of <br /> California, as more particularly described on xhibit A attached hereto (the "Property"). <br /> 2. Term. The term af the Option Agr�eement, and any rights or interest of <br /> Optionee in and to the Pinperty created hereby, shall begin on the date of this <br /> Memorandum and shall end no later than December 31, 201 I, and raay end earlier as <br /> provided in the Option Agreement. <br /> 3. �rice a�nd Terms. 17�e price and other terms are set forth in the Option <br /> Agreement, alI of the terms, covenants and condirions of which are incorporated herein <br /> by reference as though set forth fulfy herein. In the event of any inconsistency between <br /> this Memorandum and ihe Option Agreement, the Option Agreement sl�all control. A11 <br /> capitaliz.ed terms used herein and not otherwise c�efined herein shall have the same <br /> meaniiig as is set forth in the Purcl�aser Agreement. <br /> 4. Effect. Owner and Optionee have executed and recorded this <br /> Memorandum for the pvrpose of imparting notice of the Option Agreement and the <br /> respective rights and obligations of �wner and Optionee thereunder. The obligations of <br /> 1 <br />