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Grant of Option <br /> <br /> 1. Optionor hereby grants to Optionee the exclusive right to pumhase the <br /> Property at a price and under the terms and conditions set forth in the <br /> agreement entitled, "Purchase Agreem~nt ~Between the City of Redwod City and <br /> ,--, ,Iwc, /y <br /> .emnsula Habitat for Humanity~or the Purchase opf Rea Property (210 McEvoy <br /> <br /> Street), marked Exhibit B, attached hereto and incorporated by this reference. <br /> Option Period <br /> <br /> 2. This option will commence on ,~/t,,,,~'/ /z~_ , 1998, and will remain in <br />effect for 60 days thereafter. <br /> <br /> Consideration <br /> <br /> 3. This option is granted in consideration of the agreement by Optionee <br />to comply with the tems and conditions set forth in the agreement entitled <br />"proposal", executed by Optionee and other terms and conditions of the <br />agreement entitled "Agreement with Peninsula Humanity for Funding to acquire <br /> <br />Vacant Land", between Optioner and Optionee, and other valuable <br />consideration. <br /> <br />Agmt-146 2 <br />FXS:djh <br />F:/Shared/Redwood/Council <br />04/09/98 <br />FXS 4/13/98 <br /> <br /> <br />