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TERMS AND CONDITIONS 3.0 Conditions Precedent: All of the conditions in Paragraphs 3.1 through 3.6 of the MOU must be satisfied prior to Granite and CEMEX being obligated to move and/or assist in the payment for moving of the Asphalt Plant to the New Location or an Offsite Location. 3.1 City Payment: The City will provide $500,000 toward the cost of moving the Asphalt Plant to the New Location ("City Payment"). The City Payment will be the amount, as set forth above, plus any accrued interest beginning on the date this MOU is fully executed. The City will pay Granite within 30 days after Granite incurs costs to move the Asphalt Plant and invoices the City with documents supporting such costs which will not cumulatively exceed the City Payment. 3.2 Costs In Excess of City Payment: Granite and CEMEX will each fund, in equal proportions, the cost to relocate the Asphalt Plant to the New Location that is owned or controlled by CEMEX less the City Payment. Granite will fund the cost to relocate the Asphalt Plant to an Offsite Location that is not owned or controlled by CEMEX less the City Payment. 3.3 California Environmental Quality Act Exemption: Granite believes that moving the Asphalt Plant to the New Location is statutorily exempt from the requirements of the California Environmental Quality Act (Cal. Pub. Res. Code § 21000 et seq.) ("CEQA") and that no Environmental Impact Report ("EIR") or other environmental review will be required as a result of relocating the Asphalt Plant to the New Location. Should an environmental review be legally required in the future, the County and Granite will cooperate to expedite such review so as to expedite the relocation of the Asphalt Plant subject to the schedule in Exhibit B. 3.4 County Board of Supervisors Approval: The County Board of Supervisors ("Board") will consider the approval and authorization to enter into this MOU on July 31, 2007. This MOU provides only one location on the CEMEX Property, the New Location, for relocating the Asphalt Plant but does allow Granite, at solely Granite's discretion, to relocate the Asphalt Plant to an Offsite Location. If the decision of the Board is not in favor of the New Location, then the 2