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LAND DISPOSITION AGREEMENT <br /> FOR <br /> BLP SENIOR HOUSING DEVELOPMENT <br /> This Land Disposition Agreement (the "Agreement") is made and entered into as of <br /> Jenihe4 //2 , 200j,by and between the City of Pleasanton, a municipal corporation (the <br /> "City"), and BLP Partnership, Inc., a California nonprofit public benefit corporation (the <br /> "Developer"),with reference to the following facts: <br /> RECITALS <br /> A. These Recitals refer to and utilize certain capitalized terms which are defined in <br /> Article 1 of this Agreement. The Parties intend to refer to those definitions in connection with the <br /> use of capitalized terms in these Recitals. <br /> B. The City owns an unimproved parcel of real property located in the City of <br /> Pleasanton, County of Alameda, State of California, of approximately 3.59 acres, which is more <br /> particularly described in Exhibit A attached to this Agreement (the "Property"). <br /> C. The Developer desires to lease from the City and to develop the Property <br /> approximately one hundred (100)units of assisted living senior housing(the "Development"). <br /> D. The City desires to lease the Property to the Developer for the Development. <br /> THEREFORE, the City and the Developer agree as follows: <br /> ARTICLE 1 <br /> DEFINITIONS AND EXHIBITS <br /> Section 1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, <br /> the following definitions shall apply throughout this Agreement. <br /> (a) "Affordable Rents" means rents affordable to households identified by the <br /> City and which will be specifically defined in the City Ground Lease to be negotiated between the <br /> Parties. <br /> (b) "City" means the City of Pleasanton, California. <br /> (c) "City Council" means the City Council of the City. <br /> 144\105\105296.4 1 <br />