RES 98149 - Laserfiche WebLink

GRANT AGREEMENT This Grant Agreement (hereinafter referred to as "Agreement") is entered into this day of ¢) c.~ b-e r- ,1998 by and between T.T.K. Partnership, a California Limited Partnership, (hereinafter referred to as "T.T.K.") and the City of Pleasanton, a municipal corporation (hereinafter referred to as "City"). I. PROPERTY TO BE GRANTED. T.T.K. agrees to grant all T.T.K.'s right, title and interest in that certain real property consisting of approximately_ [26.01 estimated] acres located south of Happy Valley Road, in Alameda County, California, described more particularly in the artached Exhibit 1, incorporated herein by reference (the "Property"). II. CONSIDERATION. T.T.K. has received from the City a density bonus for additional housing units, as set forth more particularly in the Density Bonus / Land Dedication Agreement for the Pleasanton Golf Course dated (~ cA-. i ~' , 1998, and such density bonus represents full consideration for the grant of property herein. III. ESCROW. The grant shall be consummated through an escrow established with Northwestern Title Company, 6000 Stoneridge Mall Road, Suite 100, Pleasanton, California 94588. Northwestern Title Company shall be the escrow agent for this transaction. The "close of escrow" shall be when the grant deed to the property is recorded. Real property taxes and insurance shall be prorated as of the closing date on the basis of a thirty day month. IV. TITLE TO PROPERTY. Title to the property shall be conveyed to the City at the close of escrow by grant deed. The Property. shall be free and clear of any liens, exceptions or encumbrances, except for those specifically approved by the City. V. CONDITION OF PROPERTY. City shall purchase Property in an "as-is" condition. VI. CLOSE OF ESCROW. Escrow shall close within ninety (90) days of the date of this agreement. VII. CLOSING COSTS. City shall pay one-half(I/2) of recording costs and escrow fees, and all title insurance premiums. T.T.K. shall pay one-half (1/2) of recording costs and escrow fees and all transfer taxes. VIII. WARRANTIES. The transfer of the real Property is without any representations or warranties of any kind whatsoever and is strictly on an "as-is .. where is" basis. IX. ATTORNEY'S FEES. In the event of a default under this Agreement, defaulting party shall reimburse the non-defaulting party for all costs and expenses reasonably incurred by the non-defaulting party in connection with the default, including, without limitation, artorney's fees. Additionally, in the event a suit or action is filed to enforce this Agreement or with respect to this Agreement, the prevailing party shall be reimbursed by the other party for all costs and expenses [2 lot] Exhibit C 1