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4. The City shall pay the balance of $3.4 million (for the Southern Property) owed to the County in seven equal annual principal installments, the first of which is due one year after close of escrow on the Southern Property. 5. The first two installments shall be interest free. The remaining five installments shall bear interest at the Local Agency Investment Fund rate prevailing on the due date of the installment. Currently that rate is estimated to be 4.25%; an example of the payment schedule, assuming a rate of 4.25%, is set forth below. 6. The County shall assign existing license agreements to the City. These include licenses for Hap's Restaurant, the Old Ice House and Pleasanton Specialty Cars. All of these agreements are currently on a month-to-month basis and can be terminated by the City with a 30 day notice. 7. If within five years of the closing of the Southern Property, the Alameda County Health Care Services issues a Remedial Action Completion Certification letter (Certificate) rendering the cleanup of the contamination on Segment 7 complete the City is obligated to purchase the Northern Property for $2.0 million. 8. At the close of escrow for the Southern Property, the City shall deposit $1.0 million into an escrow account to guarantee its purchase of the Northern Property. 9. If the Certificate is not issued and the City is not obligated to purchase Segment 7, the purchase price for Segments 8 through 10 (Balance of Northern Property) shall be $1,687,250, payable in roughly equal installments over the remaining annual payments for the Southern Property. 10. If the Certificate is issued but for whatever reason the City does not purchase some or all of the Northern Property the City will forfeit some or all of the $1.0 million deposit and will initiate an amendment to the land use designations applicable to the portion of the Northern Property not purchased. Funding Sources The following table presents the source of monies available for the payments required under the Purchase Agreement: Monies Available for Parking in the Downtown Area Fund/Project # Downtown Corridor CIP 18044 $2,380,324.00 Downtown Specific Plan 28006 $1,097,158.00 In Lieu Parking Fund #226 226 $ 265,626.00 C.I.P. for Downtown and N. Pleasanton 153 $4,486,682.00 Total $8,229,790.00 Page 4 of 6