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6.1.B. - Page 4 <br /> ACQUISITION AGREEMENT <br /> THIS AGREEMENT is entered into as of March 28, 2013, by and between the LTNION <br /> PACIFIC RAILROAD COMPANY, a Delaware corporation (formerly known as Southern <br /> Pacific Transportation Company, a Delaware corporation, successor in interest through merger <br /> with Union Pacific Railroad Company, a Utah corporation) ("UPRC") and the CITY OF <br /> REDWOOD CITY, a charter city and municipal corporation of the State of California (the <br /> "City"). <br /> Recitals <br /> A. UPRC has certain interests in that certain real property (the "Site") described in <br /> the "Legal Description of the Site," attached hereto as Exhibit A and incorporated herein by <br /> reference. The Site consists of approximately 12,290 square feet(028 acres) of land area. <br /> B. UPRC desires to quitclaim and convey its entire interest in the Site to the City, <br /> and the City desires to acquire such interest in the Site from UPRC for purposes of development <br /> and use as part of the proposed Depot Circle and other adjacent properties. <br /> A�reements <br /> NOW, THEREFORE, UPRC AND THE CITY HEREBY AGREE AS FOLLOWS: <br /> 1. A�reement to Sell and Purchase. UPRC agrees to sell to the City, and the City <br /> agrees to purchase from UPRC, all of UPRC's interest in the Site, upon the terms and for the <br /> consideration set forth in this Agreement. <br /> 2. Acquisition Price. In consideration for the conveyance of the Site by UPRC, the <br /> City agrees to pay to UPRC as herein provided an amount equal to THREE HLTNDRED <br /> SEVENTY-TWO THOUSAND EIGHT HLTNDRED TEN DOLLARS ($372,810.00) (the <br /> "Acquisition Price"). The Acquisition Price shall be paid by the City within three (3) business <br /> days of recordation of the Deed (as defined in Section 3 below) and conveyance of UPRC's <br /> interest in the Site to the City. <br /> 3. Convevance of the Site. All of UPRC's rights, title and interest in the Site shall <br /> be conveyed to the City upon recordation of the quitclaim deed (the "Deed"), which deed has <br /> been executed and delivered by UPRC to City as of March 21, 2013. All recording costs and any <br /> other costs or fees associated with the conveyance of the Site to the City shall be paid by the <br /> City. <br /> Upon execution and delivery of this Agreement, the City shall file the Deed for <br /> recording among the land records in the Office of the County Recorder for San Mateo County. <br /> UPRC shall maintain all current fire or casualty and liability policies, if any, in force until <br /> conveyance of the Site to the City. <br /> ATTY/AGR/2013.050/City and UP Acquisition Agreement <br /> REV:04-02-13 VR <br /> Page 1 of 5 <br />