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L <br /> Recording Requested by and: <br /> When Recorded Return to: <br /> Redevelopment Agency of the <br /> City of Redwood City <br /> 1017 Middlefield Road <br /> Redwood City CA 94063 <br /> Attn: Legal Department <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 March 4, 2011, Janice Salaman, individually, and Janice Salarnan, <br /> as Successor Trustee of the J. Franklin Salzman Trust under agreement dated March 7, 1997 <br /> (collectively, "Seller "), and THE REDEVELOPMENT AGENCY OF THE CITY OF <br /> REDWOOD CITY ("Buyer") 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 March 4, 2011, 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 8.24 acres, having Assessor Parcel No. 052- 53 -010, located in the <br /> City of Redwood City, County of San Mateo, State of California, as more particularly described <br /> 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 June 17, 2011, and may end earlier as provided in the Purchase and Sale <br /> Agreement. <br /> 3. Price and Tcrms. 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 /> 1 <br />