RESOLUTION NO. _____________

BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA

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RESOLUTION AUTHORIZING AND DIRECTING THE PRESIDENT OF THE BOARD OF SUPERVISORS TO EXECUTE AN AGREEMENT TO EXCHANGE REAL PROPERTY BETWEEN THE COUNTY OF SAN MATEO AND BAY MEADOWS MAIN TRACK INVESTORS LLC; AND AUTHORIZING THE COUNTY MANAGER OR HIS DESIGNEE TO ACCEPT OR EXECUTE ON BEHALF OF THE COUNTY, ANY AND ALL NOTICES, CERTIFICATES OF ACCEPTANCE, CONSENTS, APPROVALS, TERMINATIONS, DEEDS, ESCROW INSTRUCTIONS AND

OTHER DOCUMENTS IN CONNECTION WITH THE AGREEMENT.

(C.O.P. NO. 2689)

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RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that

WHEREAS, Section 25365 of the Government Code authorizes the board of supervisors, by a four fifths vote, to exchange real property of equal value with any person, firm or corporation, for the purpose of removing defects in the title to real property owned by the county; and

WHEREAS, the Clerk of the Board of Supervisors gave notice of the intended action of this Board of Supervisors pursuant to Section 6061 of the Government Code; and

WHEREAS, said notice of intention set TUESDAY, the 27^th of March, 2007, at the hour of 9:15 A.M. in the Supervisors’ Chambers in the Hall of Justice of Records, 400 County Center, Redwood City, California; and

WHEREAS, there has been presented to this Board for its consideration and acceptance an Agreement to Exchange Real Property (the “Agreement”) dated March 27, 2007, between the County, owner of Assessor Parcel Number 040-030-080, and Bay Meadows Main Track Investors, LLC, a California Limited Liability Company, the owner of Assessor Parcel Number 040-030-090, reference to which is hereby made for further particulars, and the Board of Supervisors has examined and approved the same as to form and content and desires to enter into the same; and

WHEREAS, this Board finds the property interests to be exchanged of equal value; and

WHEREAS, it is necessary and desirable that this Board authorize the exchange of the property as hereinafter provided;

NOW, THEREFORE, IT IS HEREBY DETERMINED AND ORDERED:

1. That the President of the Board of Supervisors shall, and is hereby directed to execute the Agreement to Exchange Real Property. Said Agreement shall be executed by the President of the Board of Supervisors for and on behalf of the County of San Mateo, and the Clerk of the Board will attest to the President’s signature thereto; and

IT IS FURTHER DETERMINED AND ORDERED that the County Manager of San Mateo County or his designee is hereby authorized to accept or execute on behalf of the County, any and all notices, certificates of acceptance, consents, approvals, terminations, deeds, escrow instructions and other documents in connection with the Agreement or to meet the intent of this Resolution, except as otherwise provided by applicable law, including the County’s Ordinance Code and Charter.

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