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~- <br />*• <br />Approved As To Form <br />By General Counsel <br />June 15, 1987 <br />OFFER TO PURCHASE REAL PROPERTY <br />1. BUYER <br />~~ <br />CITY OF PLEASANTON, ("Buyer") hereby offers to purchase from SOUTHERN <br />PACIFIC TRANSPORTATION COMPANY, ("Seller"), the real property hereinafter <br />described upon the terms and conditions contained in this Agreement. <br />2. PROPERTY <br />The real property ("Property") which is the subject of this offer consists <br />of 1.538 acres, more or less, located at or near Pleasanton, County of <br />Alameda, State of California, together with all appurtenances thereto and <br />improvements thereon,. if any. The Property is more particularly described <br />on Exhibit "A". <br />3. PURCHASE PRICE <br />The Purchase Price to be paid by Buyer to Seller for the Property is FOUR <br />HUNDRED THOUSAND DOLLARS ($400,000), all cash at close of escrow. <br />4. DEPOSITS. <br />4.1 Within five (5) calendar days of acceptance of this offer by Seller, <br />Buyer shall deliver to Escrow Holder (as defined in Paragraph 5.1), a <br />cashier's check in the sum of ONE THOUSAND DOLLARS ($.1,000) <br />("Deposit"), which shall apply toward the Purchase Price. <br />4.2 Escrow Holder is hereby authorized and instructed to disburse to Seller <br />the total of the Deposit, less $500.00, as provided in Paragraph 7.2. <br />Buyer hereby releases Escrow Holder from any claims arising out of <br />Escrow Holder's compliance with the provisions of this Paragraph 4.2 <br />and Paragraph 7.2. <br />BUYER'S INITIALS ~ SELLER'S INITIALS <br />4.3 .The balance of the Purchase Price, including Buyer's escrow fees and <br />other closing costs, if any, shall be deposited with Escrow Holder, by <br />cashier's check, no later than 2:00 P.M. on the business day prior <br />to the Closing Date (as defined in Paragraph 8.1). <br />4.4 In the event Buyer shall fail to deliver the Deposit on or before the <br />dates set forth in this Paragraph 4 or promptly to perform any other <br />covenant or obligation contained in this Agreement, Seller may elect to <br />specifically enforce this Agreement or to terminate this Agreement and <br />retain as liquidated damages the amounts provided in Paragraph 4.5 of <br />Document 0044 <br />Page 1 of 8 <br />