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1. Agreement to Sell and Purchase. Owner agrees to sell to <br />City and City agrees to purchase from Owner, subject to an option <br />agreement for purchase of Parcels B1 and B3 as described in <br />"Option" attached hereto as Exhibit "A" and incorporated herein <br />by this reference, upon the terms and conditions set forth <br />herein, all that certain real property consisting of <br />approximately two acres (the "Property") situated in the City of <br />Pleasanton, County of Alameda, State of California, described in <br />Exhibit "B", attached hereto and incorporated by reference <br />herein. <br /> <br /> 2. Assignment of Right to Purchase. City, at its sole <br />discretion, may elect to assign the right to purchase described <br />in Section 1 herein to a nonprofit public benefit corporation. <br /> <br /> 3. Consideration for Purchase of Main Street Extension to <br />Bernal Avenue - Parcel B2. Owner agrees to sell to the City a <br />road right-of-way for the construction of the Main Street <br />extension to Bernal Avenue, said road right-of-way to follow an <br />alignment as generally shown in Exhibit "B". <br /> <br /> The City shall pay the Owner the sum of Three Hundred <br />Thousand and No/100ths Dollars ($300,000.00) for Parcel B2, as <br />shown on Exhibit "B" consisting of approximately 0,472 acres. <br />The purchase price shall be provided to Owner upon close of <br />escrow for this road right-of-way parcel. <br /> <br /> 4. Option to Purchase School Administration Center - Parcel <br />B1 and B3. Owner grants to City an option to purchase a parcel <br />consisting of approximately 1,530 acres and an administrative <br /> <br /> - 2 - <br /> <br /> <br />