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%fiat CITY OF PLEASANTON <br /> SEP 05 2013 <br /> CITY Public Works Agency Daniel oldeen&4�R P4 Diratur <br /> Alameda County <br /> 399 Elmhurst Street•Hayward(1194544-1307 •(510)670-5480•wwwacgovorg/pwa <br /> August 30, 2013 <br /> Nelson Fialho <br /> City Manager <br /> City of Pleasanton <br /> 123 Main Street <br /> Pleasanton, CA 94566 <br /> Re: County of Alameda/City of Pleasanton <br /> Transportation Corridor—Purchase of Northern Property <br /> Dear Mr. Fialho: <br /> Thank you for hosting the meeting between the City of Pleasanton ("City") and County of <br /> Alameda("County") last week relating to the transportation corridor transaction reflected in the <br /> July 8, 2008 Purchase Agreement ("Agreement") between the City and County. The parties are <br /> making excellent progress toward resolving all remaining issues and the meeting was very <br /> helpful in this regard. <br /> The intent of this letter is to confirm the parties' agreement with respect to the City's acquisition <br /> of the Northern Property(Segments 7-10) under the Agreement. At the meeting, the following <br /> items were agreed to: <br /> 1. The City will move forward with the purchase of Segments 8, 9 and 10, under the <br /> terms set forth in the Agreement, except as to the new dates and provisions set forth herein; <br /> 2. The closing date for this purchase will be September 30, 2013; <br /> 3. The purchase price of$1,687,250 for Segments 8-10 will be paid in three roughly <br /> equal installments, on September 30, 2013, August 1, 2014 and August 1, 2015. Interest will <br /> accrue at the LAIF rate commencing September 30, 2013 (after payment of the first installment) <br /> and a promissory note secured by a deed of trust on the Southern Property will be executed by <br /> the City no later than September 30, 2013 and placed in escrow; <br /> 4. The County will return to the City the $1,000,000 held in escrow pursuant to the <br /> Agreement as a security deposit for the purchase of Segments 8-10; <br /> 5. The City's first installment of$562,417 for Segments 8-10 will be credited from <br /> the $1,000,000, and the balance of$437,583 will be paid by County to City out of the existing <br /> escrow, after consideration of this credit and receipt of the executed promissory note, no later <br /> than September 30, 2013; <br /> 010618.0026\3259172.I <br /> "To Sere and Preserve OurCommuni4/' <br />