Laserfiche WebLink
<br />ATTACH~~1F <br />Page 4 <br /> <br />PURCHASE AND SALE AGREEMENT <br /> <br />Vacant Lot - Bradford St. Redwood City, California <br /> <br />This Purchase and Sale Agreement (this "Agreement") is made and entered into by and <br />between Richard E. Gardella, individually and on behalf of Bradford Associates, a partnership <br />("Seller") and the Redevelopment Agency of the City of Redwood City, a public body, corporate <br />and politic, duly organized and existing pursuant to the Community Redevelopment Law of the <br />State of California ("Buyer"), with respect to the foHowing, and bears the date for reference <br />purposes of September 27,2006. <br /> <br />RECITALS <br /> <br />A. Seller is the owner of that certain parcel of vacant land located on Bradford Street, <br />Redwood City, California, bearing Assessor's Parcel Number 052-372-170, and legally <br />described in Exhibit "A" to this Agreement. Said parcel of land and the appurtenances <br />pertaining thereto are collectively referred to herein as the "Property." <br /> <br />B. Buyer wishes to buy from Seller, and Seller wishes to sell to Buyer, the Property <br />upon the terms and conditions hereinafter set forth. <br /> <br />NOW, THEREFORE, the parties hereto agree as follows: <br /> <br />I. Incorporation of Recitals. <br />incorporated herein by this reference. <br /> <br />2. Definitions. <br /> <br />a. TIle "Agreement Date" shall mean the date that both parties have signed <br />this Agreement or a counterpart thereof. <br /> <br />b. The "Close of Escrow" shall mean the moment when the Grant Deed is <br />recorded in the office of the County Recorder of the County in which the Property is located in <br />accordance with this Agreement. <br /> <br />c. The "Escrow Holder" and "Title Company" shall mean the Redwood <br />City office of First American Title Insurance Company. <br /> <br />d. The "Grant Deed" shall mean a California statutory grant deed. <br /> <br />e. The "Owner's Policy" shall mean a CL TA Owner's Policy of title <br />insurance insuring title in favor of Buyer subject only to the Permitted Exceptions. <br /> <br />f. The "Permitted Exceptions" are those exceptions listed in the <br />Preliminary Report. <br /> <br />g. The "Preliminary Report" shall mean the Preliminary Title Report (2nd <br />Amended Report), issued by the Title Company and dated as of August 11,2006. <br /> <br />h. The "Scheduled Closing Date" shall mean November 15, 2006, or such <br />later date as is necessary in order to satisfy the conditions to <br />Close of Escrow identified in this Agreement, but not later than November 30, 2006. <br /> <br />The Recitals set forth above are true and accurate and <br /> <br />REDW\OOO J\[)()(\O 16-3 <br />