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<br />Fireside Thrift Company
<br />2117 Broadway, Redwood City, California
<br />APN: 052-366-010
<br />
<br />ORIGINAL
<br />
<br />AGREEMENT FOR PURCHASE OF BUSINESS GOODWILL, IMPROVEMENTS
<br />PERTAINING TO REALTY, FIXTURES AND EQUIPMENT, LEASEHOLD INTEREST
<br />AND RELOCATION BENEFITS
<br />
<br />THIS AGREEMENT, entered into by and between the CITY OF REDWOOD CITY ("City"), and
<br />FIRESIDE THRIFT COMPANY ("Fireside").
<br />
<br />In consideration of which, and the other considerations hereinafter set forth, it is mutually agreed as
<br />follows:
<br />
<br />1.
<br />
<br />The City and Fireside have herein set forth the whole of their agreement. The performance of this
<br />agreement constitutes the entire consideration for said document and shall relieve the City of all
<br />further obligations or claims on this account, or on account of the location, implementation,
<br />construction or operation of the public parking garage project referred to below, except as otherwise
<br />provided herein.
<br />
<br />2.
<br />
<br />The City is purchasing that certain parcel of real property described as Assessor's Parcel No. 052-
<br />366-010 and located at 2117 Broadway, Redwood City, California, ("subject property") for a public
<br />use. Fireside is a tenant of the subject property and conducts a business upon the subject property.
<br />
<br />3.
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<br />The City shall pay the sum of $ 75,000.00, in addition to the sum of $ 26,100.00 the City has
<br />previously paid to Fireside pursuant to the Court's Order for Withdrawal of Deposit of Probable
<br />Compensation by Fireside Thrift Co. in San Mateo County Superior Court Action No. CIV 429511
<br />for the purpose of acquiring the subject property for public parking facilities, a public use, by the City
<br />("eminent domain action"), for Fireside's interests in and to the subject property, including but not
<br />limited to business goodwill, improvements pertaining to realty, fixtures and equipment, leasehold
<br />interest, business goodwill and relocation benefits.
<br />
<br />4.
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<br />Fireside acknowledges that it has been apprised and is aware of the statutory requirements relating to
<br />appraisals, offers and pertinent procedural requirements as to the acquisition of its interests in and to
<br />the subject property, business goodwill and all matters relating thereto, and agrees that the City has
<br />satisfied all such requirements and further agrees that the above payment represents compensation for
<br />business goodwill, improvements pertaining to realty, fixtures and equipment, leasehold interest and
<br />relocation benefits, all of which shall be free and clear of all liens, encumbrances, conditions,
<br />restrictions, easements, delinquent tax liens of whatever nature, rights to possession or ownership or
<br />claims to rights of possession or ownership, leases, whether the same be recorded or not. Fireside
<br />further agrees to execute quit claim deeds, if appropriate, for any such interests.
<br />
<br />5.
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<br />Fireside has been apprised and is aware of relocation benefits assistance provided for by law and
<br />agrees that the City has satisfied all such requirements of law, and further releases and forever
<br />discharges the City and its successors and assignees, from any and all claims or damages for
<br />relocation assistance benefits which may arise by reason of Article 9 of Chapter 4 of Division 24 of
<br />the Health and Safety Code of the State of California, or by reason of Chapter 16 of division 7 of
<br />Title I of the Government Code of the State of California, or by reason of the federal act entitled
<br />"Uniform Relocation Assistance and Real Prope11y Acquisition Policies Act of 1970" (Public Law
<br />91-646), as amended, or by reason of any law or regulation of the United States of America or the
<br />State of California.
<br />
<br />6.
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<br />It is agreed that the consideration provided by the terms of this Agreement is in full settlement of: (i)
<br />any claim Fireside has made or could have made in the eminent domain action, including, but not
<br />limited to claims for the subject property, for loss of business goodwill, the leasehold interest and
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