RESOLUTION NO. _____________

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

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RESOLUTION AUTHORIZING THE EXECUTION OF AN OPTION TO PURCHASE AND PURCHASE AGREEMENT WITH THE REDEVELOPMENT AGENCY OF THE CITY OF EAST PALO ALTO FOR COUNTY-OWNED IMPROVED SURPLUS PROPERTY LOCATED AT THE SOUTHEAST CORNER OF UNIVERSITY AVENUE AND BAY ROAD, EAST PALO ALTO (APN 063-221-010) AND AUTHORIZING THE COUNTY MANAGER, OR DESIGNEE, TO EXECUTE ANY AND ALL DEEDS, NOTICES, CONSENTS, APPROVALS, PERMITS, ESCROW INSTRUCTIONS AND DOCUMENTS IN CONNECTION WITH THE AGREEMENT, INCLUDING ANY PURCHASE PRICE ADJUSTMENT AS SET FORTH IN SUCH AGREEMENT.

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

WHEREAS, there has been presented to this Board of Supervisors for its consideration and acceptance an Option to Purchase and Purchase Agreement (the “Agreement”) for certain County-owned improved property described as APN 063-221-010 consisting of approximately 10,861 square feet at the southeast corner of University Avenue and Bay Road, East Palo Alto, California (“Property”) and more particularly described in the Agreement, reference to which is hereby made for further particulars, whereby the County of San Mateo grants to the Redevelopment Agency of the City of East Palo Alto the option to purchase the Property for the sum of $660,000, and in accordance with the terms and conditions contained therein; and

WHEREAS, as a condition of the sale of the Property the Redevelopment Agency of the City of East Palo Alto will have a one year option with the right to extend the option for an additional one year upon payment of a non-refundable option fee in the amount of $66,000; and

WHEREAS, the Agreement provides that the County Manager or the County Manager’s designee, may in his or her sole discretion reduce the purchase price in an amount not to exceed $65,000, if during the due diligence period an environmental audit indicates remediation is necessary and appropriate.

WHEREAS, entering the Agreement is in compliance with Government Code Section 25365; and

WHEREAS, the intent to transfer of the Property has been duly noticed in a newspaper of general circulation published in the County; and

WHEREAS, this Board finds that the Property is not required for County use; and

WHEREAS, this Board has examined and approved the Agreement as to both form and content and desires to enter into same.

NOW THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that the President of this Board of Supervisors be, and is hereby, authorized and directed to execute said Agreement for and on behalf of the County of San Mateo, and the Clerk of this Board shall attest the President’s signature thereto; and

IT IS FURTHER DETERMINED AND ORDERED that the County Manager or designee is hereby authorized to accept, execute and enter on behalf of the County, any and all, deeds, notices, consents, approvals, permits, escrow instructions and documents in connection with the Agreement, including any purchase price adjustment as set forth such Agreement, as needed to comply with the intent of this Resolution and the Agreement, except as otherwise provided by applicable law, including the County's Ordinance Code and Charter.

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