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• <br />THIS AGREEMENT is entered into this day of May, 1999, <br />by and between DONNA BONASERA, TRUSTEE OF THE THOMAS BONASERA <br />LIVING TRUST, MICHAEL J. BONASERA, TRUSTEE, STEPHEN CORIO, <br />and PATRICIA CORIO ("Seller"), and THE CITY OF <br />PLEASANTON("Buyer"). <br />IN CONSIDERATION of the respective agreements <br />hereinafter set forth, Seller and Buyer agree as follows: <br />1. Property Included in Sale. Seller hereby <br />agrees to sell and convey to Buyer, and Buyer hereby agrees <br />to purchase from Seller, upon and subject to the terms and <br />conditions set forth herein, all of Seller's right, title and <br />interest in and to that certain real property commonly known <br />as 157 Main Street, Pleasanton, Alameda County, California. <br />2. Purchase Price. The purchase price of the <br />Property is two million, two hundred thirty thousand dollars <br />and No/100 ($2,230,000.00) (the."Purchase Price") and the <br />balance after deposit shall be paid in cash at close of <br />Escrow. A deposit of twenty five thousand dollars shall be <br />paid on the signing of this agreement and increased to one <br />hundred thousand dollars at the end of sixty days from the <br />date of this agreement <br />3. Title to the Property. <br />3.1 Title to be Conveyed. At the close of <br />Escrow Seller shall convey to Buyer fee simple title to the <br />Property by duly executed and acknowledged grant deed in the <br />form satisfactory to Buyer's legal counsel ("Grant Deed"), <br />subject only to: (i) real property taxes and assessments a <br />lien not yet due and payable; (ii) covenants, conditions, <br />restrictions, easements, rights, and rights by way of title <br />of record. <br />4. <br />4.1 specific Conditions. The close of Escrow <br />and the transactions contemplated by this Agreement are <br />expressly conditioned upon the satisfaction of each of the <br />following conditions not later than. the Closing Date (unless <br />otherwise provided): <br />4.1.1. BPpraisal. Buyer's review and <br />approval within sixty (60) days of this agreement of a <br />satisfactory appraisal of said property. <br />4.1.2. Physical Inspection. Buyer's <br />review and .approval of the structural, mechanical, electrical <br />-1- <br />