PLEASANTON JOINT SCHOOL DISTRICT PURCHASE AGMT

c 1. Agreement to Sell and Purchase. Owner agrees to sell to City and City agrees to purchase from Owner, subject to an option agreement for purchase of Parcels B1 and B3 as described in "Option" attached hereto as Exhibit "A" and incorporated herein by this reference, upon the terms and conditions set forth herein, all that certain real property consisting of approximately two acres (the "Property") situated in the City of Pleasanton, County of Alameda, State of California, described in Exhibit "B", attached hereto and incorporated by reference herein. 2. Assignment of Right to Purchase. City, at its sole discretion, may elect to assign the right to purchase described in Section 1 herein to a nonprofit public benefit corporation. 3. Consideration for Purchase of Main Street Extension to Bernal Avenue - Parcel B2. Owner agrees to sell to the City a road right-of-way for the construction of the Main Street extension to Bernal Avenue, said road right-of-way to follow an alignment as generally shown in Exhibit "B". The City shall pay the Owner the sum of Three Hundred Thousand and No/100ths Dollars ($300,000.00) for Parcel B2, as shown on Exhibit "B" consisting of approximately 0.472 acres. The purchase price shall be provided to Owner upon close of escrow for this road right-of-way parcel. 4. Op tion to Purchase School Administration Center - Parcel 81 and B3. Owner grants to City an option to purchase a parcel consisting of approximately 1.530 acres and an administrative - 2 -