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~t <br />RE~I~fAL <br />1oFz <br />PURCHASE AND SALE AGREEMENT <br />THIS PURCHASE AND SALE AGREEMENT is made and entered into <br />this 16th day of February, 1993, by and between the CITY OF <br />PLEASANTON, hereinafter referred to as the "City", and ROTARY <br />CLUB OF PLEASANTON NORTH, hereinafter referred to as "Rotary". <br />RECITALS <br />A. City is the owner of real property ("the Property") <br />located at the corner of Palomino Drive and Concord <br />Street in the City of Pleasanton, County of Alameda, <br />State of California, and more fully described in <br />Exhibit A attached hereto and incorporated herein by <br />this reference. <br />B. City desires to sell and Rotary desires to purchase the <br />Property to permit Rotary to construct on the Property <br />an affordable housing project ("the Project"), mare <br />particularly described as follows: <br />Four units that are three bedroom <br />houses, approximately 1,443 square feet <br />in size, with an attached two-car <br />garage; and, three units that are two <br />bedroom houses, approximately 1,212 <br />square feet in size, with an attached <br />two car garage. Each of the units shall <br />have a gas-fired furnace, air <br />conditioning system, cooking range, <br />dishwasher, and carpeting in living room <br />and all bedrooms. <br />NOyP THEREFORE, in consideration of the mutual covenants, <br />agreements and conditions contained herein, City and Rotary <br />agree as follows: <br />1. Purchase Price. Rotary shall pay to City the sum of <br />One Dollar ($1.00). <br />2. Grant Deed. City shall convey fee simple title to <br />Rotary by grant deed. <br />- 1 - <br />