RecDoc 2011-039193 - Laserfiche WebLink

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Recording Requested by and: When Recorded Return to: Redevelopment Agency of the City of Redwood City 1017 Middlefield Road Redwood City CA 94063 Attn: Legal Department This Space For Recorder's Use Only MEMORANDUM OF REAL ESTATE PURCHASE AND SALE AGREEMENT By this Memorandum of Real Estate Purchase and Sale Agreement (this "Memorandum ") dated as of March 4, 2011, Salaman Associates, LLC, a California limited liability company ( "Seller "), and THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY ( "Buyer ") acknowledge and agree to the following: 1. Real Estate Purchase and Sale Agreement. Pursuant to the terms of that certain unrecorded Real Estate Purchase and Sale Agreement (the "Purchase and Sale Agreement "), by and between Seller and Buyer, dated as of March 4, 2011, Seller has granted to Buyer the exclusive right to purchase all of Seller's right, title and interest that certain real property, consisting of approximately 8.24 acres, having Assessor Parcel No. 052 -53 -010, located in the City of Redwood City, County of San Mateo, State of California, as more particularly described on Exhibit A attached hereto (the "Property "). 2. Term. The term of the Purchase and Sale Agreement, and any rights or interest of Buyer in and to the Property created hereby, shall begin on the date of this Memorandum, and shall end no later than June 17, 2011, and may end earlier as provided in the Purchase and Sale Agreement. 3. Price and Terms. The price and other terms are set forth in the Purchase and Sale Agreement, all of the terms, covenants and conditions of which are incorporated herein by reference as though set forth fully herein. In the event of any inconsistency between this Memorandum and the Purchase and Sale Agreement, the Purchase and Sale Agreement shall control. All capitalized terms used herein and not otherwise defined herein shall have the same meaning as is set forth in the Purchaser Agreement. 1