PLEASANTON GARBAGE PURCHASE AGREEMENT

PURCHASE AGREEMENT THIS PURCHASE AGREEMENT ("Agreement") is made this ~ ~~ day of October, 1996, by and between PLEASANTON GARBAGE SERVICE, INC., a California corporation ("Seller") and the CITY OF PLEASANTON, a municipal corporation ("Buyer"). RECITALS A. Seller is the owner of certain real property located in the City of Pleasanton. B. Seller's property is located in an area through which the City Council has approved the realignment of Vineyard Avenue. A portion of the Seller's property, consisting of an area of approximately 9,861 square feet, generally consisting of a portion of Assessor's Parcel No. 946-1735-8, more particularly described in Exhibit A, attached hereto and incorporated herein by this reference (hereinafter "Property"). B. The Buyer has a need to realign Vineyard Avenue for public safety and health reasons and the Property has been selected as the best location for the realignment, and Seller is willing to sell the Property to the Buyer. NOW, THEREFORE, the parties agree as follows: 1. Property To Be Sold. The Seller shall sell and convey the Property to the Buyer as provided herein. 2. Purchase Price. The Seller shall sell the Property to the Buyer for Two Dollars ($2.00) per square feet and the total purchase price shall be $19,722 payable to Old Republic Title Company as escrow agent, for a grant deed with full covenants, duly executed in proper form for recording so as to convey to the Buyer a good and marketable record and title to the Property free and clear of all liens, easements, encumbrances, restrictions and conditions, except those acceptable to Buyer. Buyer shall take possession of the Property on the date of closing. The Buyer agrees to the additional terms as follows: (a) Buyer's contractor will coordinate with Seller to construct an appropriate gate and Seller will be given credit for the cost of replacing the existing gate (any upgrades to an electrical gate shall be Seller's responsibility); 1