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<br />EXHIBIT A (TO SR 06:152) <br /> <br />PURCHASE AND SALE AGREEMENT <br /> <br />THIS PURCHASE AND SALE AGREEMENT is made this 'b'day of J1rNv/41L '/ ' <br />2005 between Threehand, LP a Limited Partnership (Seller) and the City of Pleasant on <br />(City). <br /> <br />RECITALS <br /> <br />A. Seller owns the real property at 1680 Vineyard Avenue, Pleasanton, CA, more <br />particularly described in the attached Exhibit A. <br /> <br />B. City desires to acquire a fee interest in a portion of Seller's property in order to <br />construct thereon a water tank; in connection with that tank's construction, the City also <br />needs to acquire a public utility easement and a temporary construction easement on <br />Seller's property. <br /> <br />C. City has commissioned an appraisal of the fair market value of the property, <br />whether in fee or for an easement, that it needs. <br /> <br />D. Seller has indicated a willingness to sell the fee interest and the easements to <br />City but has requested that the City make certain improvements to the public utility <br />easement that will enable Seller to serve its remaining property if it is developed. <br /> <br />E. Seller is also interested in processing a development agreement for its <br />property, which agreement would be similar to development agreements provided for <br />other property owners in the Vineyard Avenue Corridor Specific Plan area. <br /> <br />F. City has obtained an estimate for the improvement work requested by Seller <br />and is willing to construct those improvements as part of its project conditioned on <br />Seller's paying to the City the cost above the fair market value of the property that the <br />City needs to acquire. <br /> <br />G. Seller is willing to pay such cost. <br /> <br />NOW, THEREFORE, in consideration of the mutual promises set forth in this <br />Agreement, Seller and City agree as follows: <br /> <br />1. Seller shall transfer to the City in fee the real property described in Exhibit A <br />and as depicted in Exhibit A-I. At the time of transfer, the Exhibit A property will be <br />subject only to those exceptions to title that are acceptable to City. <br /> <br />2. Seller shall grant to City an easement for public utility purposes as depicted <br />generally in Exhibit 8. The actual legal description of this easement will be ascertained <br />as part of the development plan of the property. <br />