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EXHIBIT B <br /> MEMORANDUM OF PURCHASE AND SALE AGREEMENT <br /> Recording Requested by and: <br /> When Recorded Return to: <br /> This Space For Recorder's Use Only <br /> MEMORANDUM OF REAL ESTATE PURCHASE AND SALE AGREEMENT <br /> By this Memorandum of Real Estate Purchase and Sale Agreement (this <br /> "Memorandum ") dated as of , 2011, ( "Seller "), and THE <br /> REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY ( "Buyer ") <br /> acknowledge and agree to the following: <br /> 1. Real Estate Purchase and Sale Agreement. Pursuant to the terms of that certain <br /> unrecorded Real Estate Purchase and Sale Agreement (the "Purchase and Sale Agreement "), <br /> by and between Seller and Buyer, dated as of , Seller has granted to Buyer the <br /> exclusive right to purchase all of Seller's right, title and interest that certain real property, <br /> consisting of approximately acres, having Assessor Parcel No. , located in the <br /> City of , County of , State of California, as more particularly <br /> described on Exhibit A attached hereto (the "Property "). <br /> 2. Term. The term of the Purchase and Sale Agreement, and any rights or interest of <br /> Buyer in and to the Property created hereby, shall begin on the date of this Memorandum, and <br /> shall end no later than , 2011, and may end earlier as provided in the Purchase <br /> and Sale Agreement. <br /> 3. Price and Terms. The price and other terms are set forth in the Purchase and Sale <br /> Agreement, all of the terms, covenants and conditions of which are incorporated herein by <br /> reference as though set forth fully herein. In the event of any inconsistency between this <br /> Memorandum and the Purchase and Sale Agreement, the Purchase and Sale Agreement shall <br /> control. All capitalized terms used herein and not otherwise defined herein shall have the same <br /> meaning as is set forth in the Purchaser Agreement. <br /> Purchase and Sale Agreement 1548 Maple <br /> 03.04.2011 v.1 <br /> 30 <br />