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<br />3. Seller shall grant to City a temporary construction easement on the real <br />property described in Exhibit C as depicted in Exhibit C-I. <br /> <br />4. At the time that City constructs the improvements for public utility purposes, it <br />shall also construct certain improvements described in Exhibit D; those improvements are <br />intended for the benefit of Seller in connection with Seller's potential development of its <br />property. <br /> <br />5. Seller shall pay City $28,500, to be paid at the close of escrow for the City's <br />purchase of the fee interest and the easements; the $28,500 represents the difference <br />between the fair market value of the fee interest and the easements and the improvements <br />described in Exhibit D. <br /> <br />6. Seller may apply for a development agreement with City in a form <br />substantially similar to what has been approved for other property owners within the <br />Vineyard Avenue Corridor Specific Plan area and a copy of which is attached hereto as <br />Exhibit E. If Seller elects to apply for such development agreement, City shall process it <br />expeditiously. <br /> <br />7. This Agreement is intended by the parties as complete and exclusive statement <br />of the entire agreement of the parties with respect to the purchase and sale of the interests <br />in the properties described herein <br /> <br />8. This Agreement shall be binding upon and enforceable by the successors and <br />assigns of the parties hereto. <br /> <br />IN WITNESS WHEREOF, Seller and City have executed this Agreement as of <br />the date first above written above. <br /> <br />THREEHAND LP <br /> <br />By: THREEHAND,LLC <br />Its: General Partner <br /> <br />By: The Pivotal Trust u/t/a dated July 20, 2000 <br />Its: Managing Partner <br /> <br /> <br />c-=) <br /> <br />stee <br /> <br />2 <br />