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GRANTOR: LEISURE SPORTS,INC. APN: 941-1311-36-3 AND 941-1311-39
<br /> PROJECT: JOHNSON DRIVE ECONOMIC DEVELOPMENT ZONE PROJECT
<br /> CITY OF PLEASANTON
<br /> AGREEMENT FOR PURCHASE OF PERMANENT EASEMENT AND TEMPORARY
<br /> CONSTRUCTION EASEMENT
<br /> In consideration of the terms and conditions set forth in this Agreement for Purchase of a
<br /> Permanent Easement and Temporary Construction Easement ("Agreement"), Leisure Sports,
<br /> Inc., a California corporation as to an undivided 2/3 interest; North Point Trust Company, L.L.C.,
<br /> a South Dakota limited liability company, in its capacity as Administrative Trustee of The LSI-S
<br /> Trust created under The LSI-S Trust Agreement dated June 29, 2018, as to an undivided 1/6
<br /> interest; and North Point Trust Company, L.L.C., a South Dakota limited liability company, in its
<br /> capacity as Administrative Trustee of The LSI-D Trust created under The LSI-D Trust Agreement
<br /> dated June 29, 2018, as to an undivided 1/6 interest (collectively, "GRANTOR") hereby grants
<br /> and delivers this Agreement to the City of Pleasanton ("CITY") conveying a Permanent Easement
<br /> and Temporary Construction Easement as set forth herein.
<br /> This Agreement is based on the following facts:
<br /> A. GRANTOR owns Property located in the City of Pleasanton;
<br /> B. CITY wishes to construct a Project on Grantor's Property and will require a permanent
<br /> easement and a temporary construction easement over a portion of the Property.
<br /> Now, therefore, the Parties agree:
<br /> 1. Definitions. In this Agreement:
<br /> City means the City of Pleasanton, a political subdivision of the State of California, and its
<br /> elected and appointed officials, officers, employees, agents, contractors, and volunteers.
<br /> Project means the CITY's Johnson Drive Economic Development Zone Project.
<br /> Grantor means Leisure Sports, Inc., a California corporation, as to an undivided 2/3
<br /> interest; North Point Trust Company, L.L.C., a South Dakota limited liability
<br /> company, in its capacity as Administrative Trustee of The LSI-S Trust created under
<br /> The LSI-S Trust Agreement dated June 29, 2019, as to an undivided 1/6 interest; and
<br /> North Point Trust Company, L.L.C., a South Dakota limited liability company, in its
<br /> capacity as Administrative Trustee of The LSI-D Trust created under The LSI-D Trust
<br /> Agreement dated June 29, 2018, as to an undivided 1/6 interest.
<br /> Property means the parcel(s) owned by GRANTOR on which the permanent easement and
<br /> temporary construction easement are located, identified in Attachment 1 (Legal
<br /> Description).
<br /> Permanent Easement means the area of the Property to be acquired by the CITY as a
<br /> permanent easement, as described in Attachment 2, including its Exhibits A and B.
<br /> TCE or the TCE Area means the Temporary Construction Easement, described in
<br /> Attachment 3 including its Exhibits A and B.
<br /> Escrow or Escrow Account means the escrow account established by the CITY at First
<br /> American Title Company, 920 5t'Avenue, Suite 1200, Seattle, WA 98104, Order
<br /> No.NCS-969448-WA1
<br /> 2. Permanent Easement Deed. GRANTOR shall deposit in Escrow a Permanent Easement
<br /> Deed suitable for recordation conveying the Easement from GRANTOR to CITY. The Easement
<br /> must be free and clear of all liens, leases, encumbrances, recorded or unrecorded,
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