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HomeMy WebLinkAboutCC Resolution 10554 (Easement MCF Property Holdings)RESOLUTION NO. 10554 A RESOLUTION AUTHORIZING THE SIGNING OF REVISED OPTION AND EASEMENT AGREEMENTS BETWEEN THE CITY OF SAN RAFAEL AND MCF PROPERTY HOLDINGS, INC. THE CITY COUNCIL OF THE CITY OF SAN RAFAEL RESOLVES as follows: The CITY MANAGER is authorized to execute, on behalf of the City of San Rafael, Revised Option and Easement Agreements between the City of San Rafael and MCF Property Holdings, Inc., regarding the Menzies parking lot, copies of which are hereby attached and by this reference made a part hereof. I, JEANNE M. LEONCINI, Clerk of the City of San Rafael, hereby certify that the foregoing resolution was duly and regularly introduced and adopted at a regular meeting of the City Council of said City held on Monday, the twentieth day of December, 1999, by the following vote, to wit; AYES: COUNCILMEMBERS: Cohen, Heller, Miller, Phillips & Mayor Boro NOES: COUNCILMEMBERS: None ABSENT: COUNCILMEMBERS: None JEA NE M. L`1EONC9INI, City Clerk OPTION AGREEMENT BETVd}?EN THE CITY OF SAN RAFAEL, A CALIFORNIA MUNICIPAL CORPORATION, AS SELLER, MCF PROPERTY HOLDINGS, INC., A CALIFORNIA PUBLIC BENEFIT CORPORATION, AS BUYER TABLE OF CONTENTS Page 1. Grant Of Option....................................................................................................... I 1.1 Property Included in Option............................................................................... 1 1.2 Term.................................................................................................................. 2 1.3 Purchase Price ...................................... :............................................................. 2 1.4 Option Consideration......................................................................................... 2 2. Buyer's Examination................................................................................................ 2 2.1 Scope of Investigation........................................................................................ 2 2.2 Entry .................................................................................................................. 4 2.3 Cooperation Regarding Design of Easement Improvements ................................ 5 2.4 Representations and Warranties of Seller............................................................ 6 2.5 Seller's Environmental Indemnity....................................................................... 7 3. Exercise of Option................................................................................................... 7 3.1 Exercise of Option; Conditions of Buyer's Obligations ....................................... 7 3.2 Covenants of Seller............................................................................................ 8 4. Closing And Escrow................................................................................................ 9 4.1 Escrow Instructions........................................................................................... 9 4.2 Closing.............................................................................................................. 9 4.3 Deposit of Documents........................................................................................ 9 4.4 Prorations........................................................................................................ 10 5. Brokers And Expenses........................................................................................... 10 5.1 Brokers............................................................................................................ 10 5.2 Expenses.......................................................................................................... 11 6. Additional Parking 11 7. Miscellaneous........................................................................................................ 11 7.1 Notices............................................................................................................ 11 7.2 Entire Agreement............................................................................................. 12 7.3 Time................................................................................................................ 12 7.4 Attorneys' Fees................................................................................................ 12 7.5 No Merger....................................................................................................... 13 7.6 Successors and Assigns.................................................................................... 13 7.7 Counterparts.................................................................................................... 13 7.8 Governing Law................................................................................................ 13 7.9 Interpretation of Agreement............................................................................. 13 7.10 Authority of Buyer........................................................................................ 13 7.11 Amendments................................................................................................. 14 7.12 Recordation of Memorandum; Action on Termination ................................... 14 8. Right of First Refusal............................................................................................. 14 9. Falkirk Mansion..................................................................................................... 14 10. Easements in Favor of Seller.................................................................................. 14 Exhibit A Description of Fee Parcel B Description of Easement Parcel C Description of Falkirk Parcel D Bill of Sale and General Assignment Exhibit 1 to General Assignment: Description of Real Property Exhibit 2 to General Assignment: List of Agreements E Easement Agreement Exhibit I to Easement Agreement: Description of Falkirk Parcel Exhibit 2 to Easement Agreement: Description of Fee Parcel Exhibit 3 to Easement Agreement: Description of Easement Parcel Exhibit 4 to Easement Agreement: Description of Easement Improvements Exhibit 5 to Easement Agreement: Description of Sewer Easement Exhibit 6 to Easement Agreement: Description of Drainage Easement F Seller's Closing Certificate G Designation Agreement H Grant Agreement Between MCF Property Holdings, Inc. and Marin Arts Council OPTION AGREEMENT TIIIs OPTION AGREEMENT (this "Agreement"), dated for reference purposes only as of December 23, 1999, is between the CITY OF SAN RAFAEL, a California municipal corporation ("Seller"), and MCF PROPERTY HOLDINGS, INC., a California public benefit corporation ("Buyer"). 1. GRANT OF OPTION 1.1 Property Included in Option As of the date hereof, Seller hereby grants to Buyer an option (the "Option") to purchase from Seller, subject to the terms, covenants and conditions set forth herein, all of the following property: (a) The real property located in the City of San Rafael, County of Marin, State of California, commonly known as the "Menzies Parking Lot," and, subject to Section 3.2(c) below, more particularly described in Exhibit A-1 hereto (the "Fee Parcel"), (b) All improvements erected or located on the Fee Parcel (collectively, the "Fee Parcel Improvements"), (c) All of Seller's right, title and interest, if any, in and to any rights and appurtenances pertaining to the Fee Parcel, including minerals, oil and gas rights, air, water and development rights, roads, alleys, easements, streets and ways adjacent to the Fee Parcel, rights of ingress and egress thereto, any strips and gores within or bounding the Fee Parcel and in profits or rights or appurtenances pertaining to the Fee Parcel (the "Appurtenant Rights"); (d) All fixtures and all other tangible personal property of every kind and character, if any, owned by Seller and located in or on the Fee Parcel (the "Tangible Personal Property"); (e) All of Seller's right, title and interest in and to all zoning variances, use or other permits, approvals, authorizations, licenses and consents obtained from any governmental authority in connection with the development, use, operation or management of the Fee Parcel, and all other general intangibles relating to the design, development, operation, management and use of the Fee Parcel (the "General Intangibles")- (f) All soils tests and engineering reports relating to all or any portion of the Fee Parcel (the "Reports"), - (g) All of Seller's right, title and interest in and to any maintenance and service contracts and other agreements relating to the Fee Parcel and in effect on the Closing Date (as defined in Section 4.2, below) (the "Agreements"); and (h) Easements (collectively, the "Easements") for access, landscaping, utilities and related purposes, as more fully set forth in the Easement Agreement (as defined in Section 4.3, below), over that portion of the Falkirk Parcel (as defined below) which is described in Exhibit B attached hereto (the "Easement Parcel"). As used herein, "Falkirk Parcel" means the parcel of real property owned by Seller which is adjacent to the Fee Parcel and described in Exhibit C attached hereto. The Fee Parcel, the Fee Parcel Improvements, the Appurtenant Rights, the Tangible Personal Property, the General Intangibles, the Reports, the Agreements and the Easements are herein collectively referred to as the "Option Property." The Option Property and the Easement Parcel (together with any existing improvements thereon) are herein collectively referred to as the "Property." 1.2 Term The term of the Option (the "Term") shall commence on the date hereof and expire at midnight on March 30, 2000; provided, however, that Buyer may extend the Term until midnight on June 30, 2000 by giving Seller written notice of such extension not later than February 1, 2000. 1.3 Purchase Price The consideration paid by Buyer for Seller's conveyance to Buyer of the Option Property shall consist of (I)) a cash payment in the amount of Seven Hundred Fifty Thousand Dollars ($750,000), which shall be paid to Seller in immediately available funds at Closing; and (II) Buyer's agreement to make a charitable contribution at Closing to the Marin Arts Council ("MAC") in the amount of Three Hundred Fifty Thousand Dollars ($350,000), pursuant to, and subject to satisfaction of the terms and conditions of, a Grant Agreement between Buyer and MAC in the form of Exhibit H attached hereto (the "Grant Agreement"). 1.4 Option Consideration Seller hereby acknowledges receipt from Brayer of Ten Dollars ($10.00) and acknowledges that such payment, together with the covenants and obligations of Buyer contained herein, constitutes sufficient consideration for Seller's grant of the Option for the period from the date hereof through March 30, 2000. 2. BUYER'S EXAMINATION 2.1 Scope of Ini�estigation During the Term Buyer shall be entitled to review and approve all matters relating to the Property, including the following matters: (a) All matters relating to title to the Property, including (i) matters disclosed by a preliminary title report or title insurance commitment, or by any underlying exception document referred to therein, and (ii) matters disclosed by any survey of the Property. (b) All matters relating to any governmental and other legal requirements relating to the Property, such as taxes, assessments, zoning, use permit requirements and building codes, including any governmental permits and plans and specifications for the Property. (c) The physical condition of the Property, including any structures, pavements, and all other physical and functional aspects of the Property. (d) Any easements and/or access rights affecting the Property. (e) To the extent in Seller's possession or reasonable control, the following written materials relating to the Property, originals or true copies of which shall be made available at City Hall, City of San Rafael, within ten (10) days after the date hereof. (i) Materials relating to governmental and other legal requirements relating to the Property, such as entitlements, taxes, assessments, zoning, use permit requirements and building codes, (ii) Any existing survey of the Property; (iii) Governmental permits, licenses and plans and specifications for the Property; (iv) Materials regarding the physical condition of the Property, including any structures and all other physical and functional aspects of the Property; (v) Reports, studies, assessments, investigations and other materials related to the presence of Hazardous Materials (as defined below) at, on or under the Property and the compliance or noncompliance of the Property with any Hazardous Materials Laws (as defined below); (vi) Any agreements affecting the Property and all amendments thereto, and any options, rights of first offer and rights of first refusal; and (vii) Materials regarding litigation, mechanics' liens, administrative or condemnation proceedings or governmental investigations pending or threatened regarding the Property. (fJ As used herein, "Hazardous Materials" means any material, substance or waste designated as hazardous, toxic, radioactive, injurious or potentially injurious to human health or the environment, or as a pollutant or contaminant, or words of similar import, under any Hazardous Materials Law (as defined below), including, but not limited to, petroleum and petroleum products, asbestos, polychlorinated biphenyls, urea formaldehyde, radon gas, radioactive matter, medical waste, and chemicals which may cause cancer or reproductive toxicity. As used herein, "Hazardous Materials Law" means any federal, state or local law, statute, regulation or ordinance, as amended from time to time, pertaining to materials, substances or wastes which are injurious or potentially injurious to human health or the environment or the release, disposal or transportation of which is otherwise regulated by any agency of the federal, state or any local government with jurisdiction over the Property or any such material, substance or waste removed therefrom, or in any way pertaining to pollution or contamination of the air, soil, surface water or groundwater, including, but not limited to, the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (42 U.S.C. Section 9601 et seq.), the Resource Conservation and Recovery Act of 1976 (42 U.S.C. Section 6901 et seq.), the Clean Water Act (33 U.S.C. Section 1251 et seq.), the Safe Drinking Water Act (42 U.S.C. Section 300f el seq.), the Hazardous Materials Transportation Act (49 U.S.C. Section 1801 el seq.), the Toxic Substance Control Act (15 U.S.C. Section 2601 et seq.), the Hazardous Substance Account Act (California Health and Safety Code Section 25300, el seq.), the Hazardous Waste Control Law (California Health and Safety Code Section 25100, el seq.), the Medical Waste Management Act (California Health and Safety Code Section 25015, el seq.), and the Porter -Cologne Water Quality Control Act (California Water Code Section 13000, el.veq.). 2.2 Entry (a) During the Term, Buyer, including all agents, representatives and other persons designated by Buyer, shall have the right, with reasonable prior notice, and in compliance with the requirements of this Section 2, to enter on any portion of the Property for the purpose of investigation, discovery and testing of the Property, including surveying, soil testing and boring, hydrological studies, environmental studies, or any other testing Buyer determines to be necessary or appropriate. Buyer, including all agents, representatives and other persons designated by Buyer, shall also have the right to inspect all books, records and files of Seller pertaining to the Property, provided that such inspection is conducted during Seller's normal business hours, unless Seller desires such inspection to be performed at other hours. Seller agrees to cooperate with Buyer at no material cost to Seller with regard to Buyer's efforts to obtain all relevant information concerning the Property. (b) Without limiting the provisions of subsection (a), before any entry to perform any on-site testing, Buyer shall give Seller written notice thereof, including the identity of the company or persons who will perform such testing and the proposed scope of the testing. Seller shall approve or disapprove the proposed testing in writing, together with an explanation of any disapproval (if applicable), within three (3) business days after receipt of such notice. If Seller fails to respond to Buyer's request, such request shall be deemed approved. If Buyer or its agents, employees or contractors take any sample from the Property in connection with any such testing, Seller shall be provided an opportunity to take a portion of such sample being tested in a sufficient quantity to allow Seller, if it so chooses, to perform its own testing Buyer shall; if requested to do so by Seller, backfill 4 any borings, holes or trenches resulting from any entry on the Property by Buyer or its agents, employees or contractors (including removal of any cylinder or core installed as part of such borings, holes or trenches, and compaction of backfill material to match the compaction of surrounding soil). Buyer shall obtain at its sole expense any clean materials needed to complete any such backfilling in accordance with all applicable laws and regulations. In the event that any material excavated by Buyer in connection with its testing is contaminated by the presence of Hazardous Materials, if Buyer actually purchases the Property (or an easement interest in the Property) from which such material is excavated, Buyer shall at its sole expense dispose of any such material which has been excavated by Buyer in accordance with all applicable laws and regulations; if Buyer does not purchase the Property (or any easement interest in the Property) from which such material is excavated in accordance with this Agreement, Seller shall dispose of any such material which has been excavated by Buyer in accordance with all applicable laws and regulations, and Buyer shall reimburse Seller for one-half (1/2) of Seller's actual out-of- pocket costs incurred in performing such disposal. Any such material so excavated by Buyer shall be stored on the Property in sealed containers, in accordance with all applicable laws and regulations pending determination of the party responsible for the disposal thereof. If the purchase of the Option Property does not close for any reason, Buyer shall have no obligation to remediate any contamination revealed by Buyer's investigations with respect to the Property except to the extent Buyer or its contractors caused the release of such contamination to occur or exacerbated the condition thereof. (c) Buyer shall provide to Seller copies of all laboratory analyses performed by or for Buyer of samples taken from the Property promptly after Buyer receives the same. In addition, Buyer shall promptly deliver to Seller copies of any reports relating to any testing or other inspection of the Property performed by Buyer or its agents, employees or contractors. (d) Seller may continue to use the Property in its customary fashion during the term hereof to the extent such use does not interfere with Buyer's exercise of its rights of entry and investigation under this Agreement. 2.3 Cooperation Regarding Design of Easement Improvements The proposed design of improvements which are to be constructed by Buyer on the Easement Parcel pursuant to the Easement Agreement shall be reviewed by the Cultural Affairs Commission, which shall forward a recommendation to the City Council in an expeditious manner. The Cultural Affairs Commission shall consider recommendations of the Historic Preservation Impact Report to be prepared by Page & Turnbull, (the "Page Turnbull Report") and the Arborist's Report (the "Arborist's Report"), both of which will be completed as part of the planning submittal package. 5 2.4 Representations and Warranties of Seller (a) Seller represents and warrants to Buyer that: (i) This Agreement and all documents executed by Seller which are to be delivered to Buyer (a) are or at the time of Closing will be duly authorized, executed and delivered by Seller, (b) are or at the time of Closing will be legal, valid and binding obligations of Seller, and (c) do not and at the time of Closing will not violate any provision of any agreement or judicial order to which Seller is a party or to which Seller or the Property is subject. (ii) To Seller's knowledge, there are no pending or threatened claims, suits, actions, arbitrations or regulatory, legal, or other proceedings or investigations affecting the Property or Seller's rights and obligations under this Agreement, or any pending or threatened condemnation of the Property, or any part of it. (iii) To Seller's knowledge, the Property is in compliance with all applicable federal, state and local laws, regulations, orders and permit conditions. (iv) There are no outstanding leases, licenses or other occupancy agreements, service or maintenance contracts, or other agreements relating to the Property which will survive the Closing, other than as disclosed by Seller to Buyer in writing (including a copy of any such agreement if in writing) within thirty (30) days after the date hereof, or if Seller enters into such agreement after such 30 -day period, then within five (5) days after Seller enters into such Agreement. If Buyer receives written notice of such an agreement after giving notice of its exercise of the Option, Buyer may cancel such notice of exercise of the Option by giving written notice to Seller within five (5) days after receiving such notice of such agreement. (v) At the Closing there will be no outstanding contracts made by Seller for any improvements to the Property which have not been fully paid for, and Seller shall cause to be discharged all mechanics' and materialmen's liens arising from any labor or materials furnished prior to Closing which pertain to the Property. (vi) The Property is not in violation of any federal, state, or local law, ordinance, or regulation relating to any environmental conditions on, under, or about the Property, including, but not limited to, soil and groundwater conditions. During the time in which Seller owned the Property, neither Seller nor, to the best of Seller's knowledge, any third party has used, generated, manufactured, produced, stored or disposed of on, under, or about the Property or transported to or from the Property any Hazardous Materials. There is no proceeding or inquiry by any governmental authority (including, without limitation, the Environmental Protection Agency or the California State Department of Health Services) with respect to the presence of Hazardous Materials on the Property or their migration from or to other property. (b) All representations and warranties of Seller contained in this Agreement shall survive the Closing. 2.5 Seller's Environmental Indemnity Seller agrees to indemnify, defend and hold harmless Buyer and any successors to Buyer's interest in the Property, and their respective directors, officers, employees and agents, from and against any and all liability, including, without limitation, any and all suits, actions, proceedings, investigations, demands, claims, liabilities, fines, penalties, liens, judgments, losses, injuries, damages, expenses and costs whatsoever, including attorneys' and experts' fees and costs and investigation and remediation costs, arising from the use, generation, storage or disposal of Hazardous Materials on, under or about the Property by Seller ("Seller -Caused Liabilities") or any other person ("Third -Party - Caused Liabilities") before the Closing; provided, however, that Buyer and/or Buyer's successors in interest in the Property, as applicable, shall reimburse Seller for one-half (1/2) of Seller's actual out-of-pocket costs incurred in indemnifying, defending and holding Buyer and/or Buyer's successors in interest to the Property (and their respective directors, officers, employees and agents), as the case may be, harmless from and against any Third -Party -Caused Liabilities which arise from events or conditions that occurred before Seller acquired possession of or title to the Property. Seller's indemnity set forth in this Section 2.5 shall survive the Closing. 3. EXERCISE OF OPTION 3.1 Exercise of Option; Conditions of Buyer's Obligations Buyer may exercise the Option by giving Seller written notice (the "Option Notice") prior to the expiration of the Term. Upon such exercise of the Option, Buyer's obligation to purchase the Option Property shall be subject to, among other conditions, the following conditions of closing: (a) First American Title Insurance Company shall issue in favor of Buyer an ALTA 1970 Form B extended coverage owner's policy of title insurance relating to the Option Property, subject only to (i) non -delinquent liens for local real estate taxes and assessments, and (ii) any other exceptions approved in writing by Buyer during the Term or arising out of Buyer's actions (collectively, the "Permitted Exceptions"), and including such special endorsements as Buyer may require in Buyer's sole and absolute discretion (collectively, the "Title Policy"). Buyer shall pay the title insurance premiums for the Title Policy. (b) Buyer shall have approved, in its reasonable discretion, a corrected legal description for the Fee Parcel which Seller shall have caused to be prepared pursuant to Section 3.2(c) below. (c) A traffic consultant reasonably acceptable to Buyer shall have confirmed in writing, at Buyer's sole expense, that a total of seventy-four (74) parking spaces, including twenty (20) public parking spaces, all as configured in plans prepared by Buyer subject to design review approval by Seller, will be sufficient to satisfy all zoning and all other regulatory and legal requirements relating to the provision of parking on the Property in connection with Buyer's planned development of the Property. Seller must review and approve Buyer's traffic consultant's study regarding the sufficiency of parking hereunder. Buyer agrees that all 74 spaces onsite shall be made available to the public when not in use by Buyer. (d) From and after the time of Buyer's exercise of the Option, there shall have occurred no change in the condition of the Property, whether physical or otherwise, that makes the Option Property materially less suitable for the Project. (e) Seller shall deliver into escrow all of the items described in Section 4.3(a) below. (f) Buyer shall have approved, in its sole and absolute discretion, the locations of the Sewer Easement (as defined in Section 10 below) and the Drainage Easement (as defined in Section 10 below), as specified by the legal descriptions for such easements prepared by Seller pursuant to Section 10 below. 3.2 Coi,ennnts of ,Seller Upon Buyer's exercise of the Option, Seller covenants and agrees as follows: (a) Seller shall not enter into any leases, licenses, occupancy agreements, service or maintenance contracts or any other agreements relating to the Property, or any material amendments of the same, without Buyer's prior written consent. (b) If any portion of the Property shall become subject to a condemnation action, this Agreement shall terminate and neither party shall have any further obligations hereunder. (c) Seller, at its sole expense, shall arrange for the filing of a Record of Survey and take all other steps necessary to prepare a revised legal description which corrects any mathematical errors contained in the preliminary legal description for the Fee Parcel attached hereto as Exhibit A-1. If Buyer, in its reasonable discretion, approves of such corrected legal description, Buyer and Seller, by written agreement at or before the Closing, shall attach such corrected legal description to this Agreement as Exhibit A-2 hereto and to the Easement Agreement as Exhibit 2 thereto, and for the purposes of the Closing such corrected legal description shall supersede the legal description set forth in Exhibit A-1 hereto. 4. CLOSING AND ESCROW 4.1 Escrow Instructions Upon execution of this Agreement, the parties hereto shall deposit a fully executed copy of this Agreement with First American Title Insurance Company, Myra Engelkes (the "Escrow Agent"), and this instrument shall serve as the instructions to the Escrow Agent as the escrow holder for consummation of the purchase and sale contemplated hereby. Seller and Buyer agree to execute such reasonable additional and supplementary escrow instructions as may be appropriate to enable the Escrow Agent to comply with the terms of this Agreement; provided, however, that in the event of any conflict between the provisions of this Agreement and any supplementary escrow instructions, the terms of this Agreement shall control. 4.2 Closing The closing hereunder (the "Closing") shall be held, and delivery of all items to be made at Closing under the terms of this Agreement shall be made, at the offices of the Escrow Agent on the thirtieth (30`x') day after Seller's receipt of the Option Notice, or if such day is not a business day, then on the first business day thereafter, and before 1:00 p.m. local time, or at such other earlier date and time as Buyer and Seller may mutually agree upon in writing (the "Closing Date"). Such date and time may not be extended without the prior written approval of both Seller and Buyer. 4.3 Deposit of Documents (a) At or before the Closing, Seller shall deposit into escrow the following items: (i) A good and sufficient grant deed conveying the Fee Parcel, the Fee Parcel Improvements, and the Appurtenant Rights to Buyer, subject only to the Permitted Exceptions; (ii) Two (2) duly executed counterparts of a Bill of Sale and General Assignment ("General Assignment") in the form attached hereto as Exhibit D, conveying the Tangible Personal Property, the General Intangibles, the Reports, and Agreements to Buyer, subject only to the Permitted Exceptions; (iii) Two (2) duly executed and acknowledged counterparts of an Easement Agreement in the form attached hereto as Exhibit E (the "Easement Agreement"), conveying to Buyer, among other things, various easement rights in the Easement Parcel, (iv) A duly executed Seller's Closing Certificate in the form attached hereto as Exhibit F; (v) Two (2) duly executed counterparts of a Designation Agreement ("Designation Agreement") in the form attached hereto as Exhibit_G. (b) At or before the Closing, Buyer shall deposit into escrow funds necessary to close this transaction, together with the following items: (i) Two (2) duly executed counterparts of the General Assignment; (ii) Two (2) duly executed and acknowledged counterparts of the Easement Agreement; (iii) Two (2) duly executed counterparts of the Designation Agreement; and (iv) Two (2) duly executed counterparts of the Grant Agreement 4.4 Prorotions (a) Real property taxes and assessments; annual permits and/or inspection fees (calculated on the basis of the period covered); and any other expenses normal to the operation and maintenance of the Fee Parcel shall all be prorated as of 12:01 a.m. on the date the Deed is recorded, on the basis of a 365 -day year. Seller and Buyer hereby agree that if any of the aforesaid prorations cannot be calculated accurately on the Closing Date, then the same shall be calculated as soon as reasonably practicable after the Closing Date and either party owing the other party a sum of money based on such subsequent proration(s) shall promptly pay said sum to the other party. (b) Any transfer taxes applicable to the sale and any recording charges shall be paid by Seller. Escrow fees and any other expenses of the escrow for the sale shall be paid by Buyer and Seller in accordance with customary practice as determined by the Escrow Agent. 5. BROKERS AND EXPENSES S.1 Brokers (a) Seller represents to Buyer, and Buyer represents to Seller that (except for Orion Partners Ltd. ("Broker"), whose commission will be paid by Buyer pursuant to the terms of a separate agreement between Broker and Buyer) there is no broker, finder, or intermediary of any kind with whom such party has dealt in connection with this transaction. (b) Seller agrees to indemnify and hold harmless Buyer and all of its officers, directors, agents, representatives and employees, and Buyer agrees to indemnify and hold harmless Seller and all of its officers, agents, representatives and employees, against and from all claims, demands, causes of action, judgments, and liabilities which may be asserted or recovered for fees, commissions, or other compensation claimed to be owing due to any dealings between the indemnifying party and the party claiming such fee, commission or compensation in connection with this transaction, including costs and reasonable attorneys' fees incident thereto. The parties hereto agree that the foregoing obligations of indemnification shall survive the Closing hereunder and the expiration or termination of the Agreement, however caused. 5.2 Expenses Except as provided in Sections 3(a) and 4.4(b) above, each party hereto shall pay its own expenses incurred in connection with this Agreement and the transactions contemplated hereby. 6. ADDITIONAL PARKING In the event that, in addition to the seventy-four (74) parking spaces referred to in Section 3.1(c) hereof, additional parking spaces on the Property shall become required by Seller pursuant to any zoning or other regulatory or legal requirement, Seller hereby agrees that Buyer may comply with such additional parking requirement by contributing an amount, calculated as provided below, to a general parking fund which shall be owned and administered by Seller. The amount to be contributed shall be determined by the use of the Marshall Valuation Service ("MVS") published by Marshall & Swift, Los Angeles, CA. Interpretation of the MVS shall be done using the calculator method by an M.A.I. appraiser mutually agreed upon between Buyer and Seller. If agreement on an appraiser cannot be reached, Buyer and Seller will each select an M.A.I. appraiser. These two M.A.I. appraisers shall then select a third M.A.I. appraiser to interpret the MVS, using the then current issue of MVS, adjusted for Marin County conditions. Costs will be for a Class A — Good — parking structure or an Excellent Surface Parking Lot, or for the City's prevailing construction standards at that time. In all cases, the value of land necessary to build a project shall be considered part of the project cost. 7. MISCELLANEOUS 7.1 Notices Any notices required or permitted to be given hereunder shall be given in writing and shall be delivered (a) in person, (b) by certified mail, postage prepaid, return receipt requested, or (c) by a commercial overnight courier that guarantees next day delivery and provides a receipt, and such notices shall be addressed as follows: ,SEL/IsR: City of San Rafael City Ball - 1400 Fifth Avenue San Rafael, CA 94901 Attention: Mr. Rod Gould City Manager WITH COPIES TO: Ragghianti, Freitas, Montobbio & Wallace 874 Fourth Street San Rafael, CA 94901 Attention: Gary T. Ragghianti, Esq. BUYER: MCF Property Holdings, Inc. 17 E. Sir Francis Drake Boulevard Suite 200 Larkspur, California 94939 Attention: Mr. Sid Hartman WITH COPIES TO: Morrison & Foerster LLP 425 Market Street San Francisco, CA 94105 Attention: Brian N. Poll, Esq. Real Estate Notices/412595/27 or to such other address as either party may from time to time specify in writing to the other party. Any notice shall be effective only upon delivery. 7.2 Entire Agreement This Agreement, together with the Exhibits hereto, contains all representations, warranties and covenants made by Buyer and Seller and constitutes the entire understanding between the parties hereto with respect to the subject matter hereof. Any prior correspondence, memoranda or agreements are replaced in total by this Agreement together with the Exhibits hereto. 7.3 Time Time is of the essence in the performance of each of the parties' respective obligations contained herein. 7.4 Attorneys' Fees If either party hereto fails to perform any of its obligations under this Agreement or if any dispute arises between the parties hereto concerning the meaning or interpretation of any provision of this Agreement, then the defaulting party or the party not prevailing in such dispute, as the case may be, shall pay any and all costs and expenses incurred by the other party on account of such default and/or in enforcing or establishing its rights hereunder,'including, without limitation, court costs and reasonable attorneys' fees and disbursements. Any such attorneys' fees and other expenses incurred by either party in enforcing a judgment in its favor under this Agreement shall be recoverable separately from and in addition to any other amount included in such judgment, and such attorneys' fees obligation is intended to be severable from the other provisions of this Agreement and to survive and not be merged into any such judgment. lip) 7. S No Merger The obligations contained herein shall not merge with the transfer of title to the Option Property but shall remain in effect until fulfilled. 7.6 Successors and Assigns This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and assigns. 7.7 Counterparts This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. 7.8 Governing Laiv This Agreement shall be governed by and construed in accordance with the laws of the State of California. 7.9 Interpretation of Agreement The section and other headings of this Agreement are for convenience of reference only and shall not be construed to affect the meaning of any provision contained herein. Where the context so requires, the use of the singular shall include the plural and vice versa and the use of the masculine shall include the feminine and the neuter. The term "person" shall include any individual, partnership, joint venture, corporation, trust, unincorporated association, any other entity and any government or any department or agency thereof, whether acting in an individual, fiduciary or other capacity. 7.10 Authority of Buyer Buyer represents and warrants to Seller that Buyer is a public benefit corporation duly organized, validly existing, and in good standing under the laws of the State of California. Buyer further represents and warrants to Seller that this Agreement and all documents executed by Buyer which are to be delivered to Seller at Closing (a) are or at the time of Closing will be duly authorized, executed and delivered by Buyer, (b) are or at the time of Closing will be legal, valid and binding obligations of Buyer, and (c) do not and at the time of Closing will not violate any provision of any agreement or judicial order to which Buyer is a party or to which Buyer is subject. The foregoing representation and warranty and any and all other representations and warranties of Buyer contained herein shall survive the Closing. 73 7.11 Amendments This Agreement may be amended or modified only by a written instrument signed by Buyer and Seller. 7.12 Recordation of 1Mlennoranrlun:; Action on Termination Buyer may record a memorandum of this Agreement signed by Buyer and Seller in the Official Records of Marin County, California. At the option of Seller, upon termination or revocation of this Agreement, a statement acknowledging such termination or revocation, signed by Buyer and Seller shall be recorded in the Official Records of Marin County, California. 8. RIGHT OF FIRST REFUSAL After the Closing, in the event that Buyer elects to sell the Option Property, Buyer shall notify Seller in writing of the material terms (the "Selected Terms") on which Buyer intends to offer the Option Property for sale. Seller shall have forty-five (45) days from receipt of such notice in which to elect whether to purchase the Option Property on such Selected Terms, and to negotiate in good faith with Buyer the remaining terms of, and enter into, an agreement to purchase the Option Property incorporating such Selected Terms. If no such agreement is entered into within such forty-five (45) day period, Buyer shall be free to offer the Option Property for sale on the Selected Terms to any other party. If Buyer elects to offer the Option Property for sale on terms materially different from the Selected Terms previously offered to Seller, Buyer shall first offer the Option Property to Seller on such new terms. The obligations of Buyer set forth in this Section shall survive the Closing. 9. FALKIRK MANSION Buyer and Seller acknowledge that, after the Closing, (i) Seller may donate all or any portion of the total cash proceeds resulting from the sale of the Option Property, to a Falkirk Cultural Center Fund (the "Fund"), as may be established by an Agreement establishing said Fund through the Marin Community Foundation, to be mutually agreed and entered into by Buyer and Seller, and (ii) in the event of such donation, MCF intends to agree to manage the Fund for a period of ten (10) years without assessing an administrative fee to the Fund. 10. EASEMENTS IN FAVOR OF SELLER At the Closing, pursuant to the Easement Agreement, Buyer will grant in favor of Seller certain easements over, across and under various portions of the Property for parking and for maintenance of an underground sewer pipe and an underground storm drainage pipe, each on terms and conditions set forth in the Easement Agreement. Within sixty (60) days after the execution of this Agreement, Seller shall, at its own sole expense, 14 cause the preparation of legal descriptions of the portions of the Property to be encumbered by such sewer pipe easement (the "Sewer Easement") and such storm drainage pipe easement (the "Drainage Easement"), which legal descriptions shall be attached as Exhibits 5 and 6, respectively, to the form of the Easement Agreement. It shall be a condition to Buyer's obligation to close the purchase of the Property that such legal descriptions be approved by Buyer in its sole and absolute discretion. The parties hereto have executed this Agreement as of the respective dates written below. SELLER: CITY OF SAN RAFAEL, a California municipal corporation Date: /2-/"z , 1999 By:�._ RUD GOULD Its: City Manager Ai It51 : Date: AT , 1999 By:A. - _ JEAIVNE M LEONCI I Its: City Clerk BUYER: MCF PROPERTY HOLDINGAration ., a Cal' is public benefit Date: /-Z- �? . , 1999: By: om Peters, Ph.D. Its: President and CEO 15 ESCROW AGENT'S ACKNOWLEDGMENT The undersigned hereby executes this Option Agreement to evidence its agreement to act as Escrow Agent in accordance with the terms hereof. ESCRW AGENT: FIRST AMERICAN TITLE INSURANCE COMPANY, Date: , 1999 By: Its: 16 EXHIBIT A DESCRIPTION OF FEE PARCEL All that certain real property situated in Marin County, California, described as follows: [SEE FOLLOWING PAGES] EXHIBIT A-1 DESCRFPTION OF FEE PARCEL All that certain real property situated in Marin County, California, described as follows: DFPICIAL WORDS 0011M OF }(AKIN aeCOa OImr wr'011rayco 1Y r,3,)77 ..a — .re.......n .. rTl10 Cl.... of Lan Rafael City Ilall .r~ CGT. Ra£ael, Calif. Ov L ATTN: Gd')f!Vd4'f:"' L I�'' a.l W 1 ra.r Sano of 1Ioovr L 10LUEEMEXHUM 3::•31?0 a.:.1:5� f;ECORDED AT -REQUEST OF TITLE INSURANCE AND TRUS I COMPANY 1 ATQ nlrn. FA3T M. NOV 301976 ••u:: Olfi:til h=* A Ihrf>f C4101y, Wil. •--� iTi S�Q3_ rp�nrt.Ii J -rACL AOOVC TUIV LIN[ ►011 AEManro'a L,at Individual Grant Deed A -L --Iy/C -_ 7.10004d /U441ML9 r7 nC04 TITLCIt -"f , The ofldcra1a04a1 Sraatur(.) doLrcl,) Docw=ury (raaalfw Uz u S 770.00 _ -�_ ( X4 e=Lpj, d an loll Tllue of property e0ovcycd, or ( c put,4 M pill vahw Ins value of lkni Lnd cnu w1rwev 1emain;v9 it Llai Of ule. ( 1 UOo..e.,y.r.La .Y..1 ( 1 C•KT .I - and rOR A VALUADLE CONSIDERATION, —:r4 -1 -W6 6 1'^-hT aano.rled� ROUND 0. JOINSON MD DORA JOti.YSc„*f, his wife 3.rn1T CRdMf(S) t. THE CITY OF 3rLY RJUJALL, a tdlalicipal Cosporati0n Ibe folia -;.g descriW real property In the City of 5an Rafael C„a,T of Marin , swe of f lif—:.: COMMENCING AT A POINT IVRTM 6 1/2a EAST 60 FC --T rrO(l TM! IIORTMiCSTCALY C0RM1:R OF Tf'E HA115014 LOT SO-CALLED, SAID MANSOII'S LOT 11MIG THAT POPTION OF BLOCK 111911 (III TIIE TOWIL PLAT OF TITS TOWN OF SAI1 RAFAEL, AS SURVEYED BY COUNTY SURVEYOR A. 0. EASC00T, A.O. 1253) C011VEYEO SY T. H_ MAtISOII To S. V. SoITM BT DCCD OATCO MARCH 10, 1000; Tlimcc ruwlluc I:ORTH 83 1/20 tIEST 100 FEET TO A STAKE; THLME I:UKTn 5 l/z• EAST :69 FCCT, CRO53I:r, 11000ED ARROYO TO A STAKE; TIIENCE I.UP.TI( 570 EAST 175 FEET C INCHES ALCM THE )4OATMW9;TEP.LY GAIM OF ARPOYO TO T)IF S i AI.E Ili THE LESTEP.LT LIIIE OF LAr1D 5OLU OT J. D. OULLIS TO S, V. S111TIII THEtIC6 SCUTII 6 1/20 NEST 373 FEET 3 1r4Cr1t5 ALONG ThE 1rCST LMC Or 3111THIS LVID, rCCr:a1,7[I1G AAPOVO TO THE PLACE OF BEG11411111G. \ / v 1 1% r>,w Noy, er 1 1 ]z .NT %TE or r_t1.IMF:11•% CIl(:TTT UF- A-*- _.. — 0.1 -.KaY. ZSR-lub mire a,. tA- uM1Fi- .:._I• . •4. _ pVlJir i. rel I.d •Jj `I.I•. rr-..Jll 3pP-.r-1 R6I-aad.� T••Lw• •• aarl Dora -Tohac6a 1. tr IM 0.r_..• _ •b.. u...•_S izn wl•-•rah-J t.. IA..nl.;n :..,...-...-I .l...I-L-I ,Lr .-h1G141 NW It - IL ITNEA1 t- 11TNEA1 -, L. -J. -.l .Z :.I -.L f,Q'- QLG..Z'.1-i.Lw Ro and 0, jlobn n Mo—"% ILM !�� rete_ pef.tly Olen OF m" lb Ore. Ah- ra.. a tta• • 1111. Ik.L�r �, 1'-.... .� I...,. �... 94915.. (� "Alk T'A SFAYE"PM Az1 od►aCT[0 A10" c� r � n. r D THIS FLAP MAY OR MAY NOT BE A SURVEY OF TWE O LAND DEPICTED HEREON. YOU SHOULD NOT RELY UPON ! f FOR ANY PURPOSE OTHER THAN ORIEWTA m .� TION TOTIIEGENERALLOCATION OFTHEPARCEL OFI N„ HCELS DEM TED. FIRST AMERICAN IVAESSLY ft r;, D;SCLA!kiS ANY LIABILITY FOR ALLEGED LOSS OR i jb D DAIVAGE WHICH MAY RESULT FROM RWANCE UPON ,.rh 7. m z TH9 W. n _ Fk-seE)erfcan TLt1e Cowpony m Q b GfLo m � n. EXHIBIT B DESCRIPTION OF EASEMENT PARCEL All that certain real property situated in Marin County, California, described as follows: [SEE FOLLOWING PAGES] EXF[IBIT B DESCRIPTION OF EASEMENT PARCEL INGRESS AND EGRESS EASEMENT All that real property in the City of San Rafael, County of Marin, State of California, being an easement for ingress and egress over that portion of the lands of the City of San Rafael as described in the deed recorded in Book 2848 of Official Records, Page 293, Marin County Records, and more particularly described as follows: BEGINNING AT the southwesterly comer of said lands, also being the southeasterly comer of the lands of the City of San Rafael as described in the deed recorded in Book 3120 Official Records, Page 184, Marin County Records, thence, northerly along the easterly line of said lands also being the westerly line of said lands first described above. North 6052'00" East 382.39 feet to the northeasterly comer of said lands second described above; Thence, leaving said common line, South 54008'00" East, 25.50 feet; Thence South 46008'00" East 25.67 feet; Thence South 29008'00' East 20.25 feet; Thence South 0008'00" East 43.54 feet; Thence along a non -tangent curve to the west, from a line bearing South 6005'20" East to the radius point, with a radius of 26.00 feet, through a central angle of 45025'08", 20.61 feet to a point of compound curvature; Thence, along said curve with a radius of 100.00 feet through a central angle of 25026'21', 44.40 feet; Thence South 13003'11" West, 38.44 feet; Thence along a tangent curve to the left with a radius of 115.00 feet, through a central angle of 13017'10% 26.67 feet to a point of compound curvature; Thence along said curve with a radius of 190.00 feet, through a central angle of 17011'46" 57.02 feet to a point of reverse curvature; Thence, along said curve with a radius of 220 feet, through a central angle of 14043'00', 56.51 feet to a point of compound curvature; Thence, along said curve with a radius of 384.00 feet, through a central angle of 91,37'45", 64.54 feet; Thence South 6055'00' West, 4.00 feet to a point on the southerly boundary line of said lands first described above; Thence westerly along said southerly line also being the northerly right of way line of Mission Avenue, North 83005'00' West, 62.64 feet to the POINT OF BEGINNNING. Prepared by: I.L. SCH RTZ ASSOCIATES, sr Iry�rt� L. Schwan , C.E. / w 6970;;mt.doc d 01/19/99 X* )�,pFESS10,4 pUIS S�y�lFy 9� G, No. 18221N � Exp. 6-30-01 s�qr CIVIL ���' OFCAI�Fac 1. EXHIBIT B I.L. 56HWAR TZ .A55001/4 TE5, INC. o CIVIL ENGINEERING AND LAND SURVE77NO 79 GALL1 DR/VE NOVATO CA 94949 (4/5,1983-9200 FAX d03-2763 INGRESS/EGRESS EASEMENT I I SSlON A VTAVj DRAW. ..sae NO. J.R.H. 6970 DATE: SFT Na. 7/17/99 / OF" ,A 55406vo,F � 25-50' 5 , ?567' 205' .33'00 .2� Z Cb OB' 25 262/" i r 100.60' / y~ L= 44.-A,, m 6-M- OF 5AN R FAEL, 3/20 OR 16.4 v= /317/0' AP1/-162-/7 i R= /1500' q:96' 5 d3 05620"E. LN 99 d= 17'//46' •moi � ;� L= 57.02' C� I SSlON A VTAVj DRAW. ..sae NO. J.R.H. 6970 DATE: SFT Na. 7/17/99 / OF" ,A 55406vo,F � 25-50' 5 , ?567' 205' .33'00 .2� Z Cb OB' 25 262/" i r 100.60' / y~ L= 44.-A,, m 6-M- OF 5AN R FAEL, 3/20 OR 16.4 v= /317/0' AP1/-162-/7 i R= /1500' q:96' 5 d3 05620"E. o / ; 61 TY OF 5AN RAFAEL 'tel2640 OR 293 APN 11-131-05 A= 14'43W' .• ���,•' -`--R=21000' L= 5651' i �% •.` / i d= 9 37'45' 364.00' LS 64-5:4' / N O�i SSGiO' E '� • �/ 4.00 6164, 5GALE I" = 50' L - 2d67' 99 d= 17'//46' R= 190.00' ry L= 57.02' o / ; 61 TY OF 5AN RAFAEL 'tel2640 OR 293 APN 11-131-05 A= 14'43W' .• ���,•' -`--R=21000' L= 5651' i �% •.` / i d= 9 37'45' 364.00' LS 64-5:4' / N O�i SSGiO' E '� • �/ 4.00 6164, 5GALE I" = 50' DESCRIPTION OF FALKIRK PARCEL OFFICIAL RYCORD3 COtrM OF wiN .�ee�o,No ted�t,.Eo o. RECORDED AT REQUEST OF MME GUARa���^ 95. . AT tYl� A� r• 7 / D M. r" —1 Offtzt�l lsefri� !t �frbl lbMrlt). Ct[il. rmi'_203 0 RECOROE4 l03 e►ar.r Jan%,r 711,R LINE FOR RECORDER'S USE DOGUMENTART 7RANSfER TAX j `x.ox.c. �-, _Conl3uled on full uarl,7 al p.n:rrl:• :-+nvy�,+., OR ComPurcd on null .,,rue res rr�:f; ;rtrt L J `qaC ;�; « al ume or60C:..Ic. IVXnal4.a of Deem -.w aa,w, rkm ftne Grant. i.)Ped"-- r , • . . r.rf .G• 1o.,ruwa4 •t e,r�L rwW►.wGt Mo 7.Y.T Go....• //�� // -il�• CS 7•�rr /0495,0 l!,' FOR A VALUADLE COMIDERATIOir, rmipt or .hied is hereby actnovled:r 1. D FRT F.R J. Dor.rAR, Ai50 KNOWN AS FSTHF.R T. DOLLAR BF -ARE One or the Trustees under the Will of K. Stanley Dollar, deceasec 1r %Aj GRA.NTISl fY THE CITY OF 3AH RAFAEL, A Municipal Corporation, the A- r,II .;wF A..e.:4-! ,.al r•^r*•b :w •n. County DAZFXM !Kirin ,9,.1rorri11rwrnl.: Beginning at the southeartorly corner of that lot of land eonv!yed bJ Jamc3 D. Dullia to 0. 8. Haakcll, by decd dated JLly 15th, 1e661 and recorded on page 113 of Liber F ur Dccd9, In Lhe office of the County nc- corder of said 1t4rin County, said point of beginning being 233-1/2 feet mossurpd northerly alone the easterly line of E Street from the northerly Aide of Sth Avenue and running thence by the true merit?n on n enur.na pparallel to the northerly aide of 5th Avenue, SButh 83 4 1 319 1/2 feet to a post rmrked W. 2 x B; thence North 23 31 mat461/e Teat to a poab markerd W. j A 3 drlv�n in the clump of live eak bru3 et; thence north j8 west 115 1/2 feet to a post marked W. 4 z 5 from which a 11 -re mak tree 2 feet in diameter narked B T. W. 4 Dears South 2jo rest dis- tant 9/1/4 feet; thence north 6-1/h b P.3Rt 330 feet (at 130 feet this latter cour3c pooato 2 feet Neat of P+ator tank), to the northeast corner of Ltfeie lo: o1' land conveyed by Sydney V. Smith to Jo=c3 D, Walker by need dated July 1st, 1369, and :ctorded on payc 5502 of L1Der 0 of dccd3, Marin Count!- Records; thence by t." true meridian and ascending,tne sourn- erly nlnr,Ryoorr Senn Rafael Hill, north 16600 15' Ea3t 792 feet to a stake In ako?85 t'tr gvooaej�Y• inoae:dL ; thence descerwihill ing frays the 510 .� hill in the call-.■ or and alone the eafrterly line of the northerly por- tion of th-a landa fomerlg to 01Corm ors; SOutn 160 15' Wes: 932 Ccct, then:e -Fouth 3'-* 301 'Wtat 650 foot to the p1sce of her -inning, containing 11-1/10 acro], wort Or 1&'J3. Q Alto known az i.....ao-'] ?3fc2l ill -1'1-i. "4448 7•t6EGrn '1• '.,..'jam,' ,' ;fr;i '•'i r ii Y i _ :f •: 0 MAW to t� r Amami ltWti .�.ryrrv. r1.: �;•r .:..•., •1' '. �'f. .� Irl.: ':' � •' � f Y '! i�'-, 'zr•,•. ) {: :y: , �,h.�.4*,'t.. r�f�711rr. no niter,l'j:•��i'�•'G'�;!�'':�'•'r' ° a`"' •i:i:••' 'ii;:.t�`l— c •(• -. 1. ..{ t: {••:7.''f''_': - .;?5. • :`:;1':. ;, �I, 1�.: t,.,r,r1 ,!: '•";uZc'(1`?•rrl , 1'j c :i-• ''7 ,�� Jb::: i"t' ••SJ-J.�'�I®'�y �A '•ir�•i i!r,'1\:j _u `.'''' •i�''' l••` ' ,. �.�.r.• � -,., 1. ,,;� ;... :�:, � l;�l, f, ,• r'' '1�•, x•'. is -i; .i•. .� a EXHIBIT D BILL OF SALE AND GENERAL ASSIGNMENT Concurrently with the execution and delivery hereof, the CITY OF SAN RAFAEL, a California municipal corporation ("Assignor"), is conveying to MCF PROPERTY HOLDINGS, INC., a California public benefit corporation ("Assignee'), by Grant Deed, that certain tract of land, together with the improvements thereon (the "Real Property"), located in the City of San Rafael, County of Marin, State of California and more particularly described in Exhibit 1 attached hereto. In consideration of the receipt of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confessed by Assignor, Assignor does hereby ASSIGN, TRANSFER, SET OVER and DELIVER to Assignee, its successors and assigns, without warranty (whether statutory, express or implied), except as hereinafter set forth, the following property: All fixtures and all other tangible personal property of every kind and character, if any, owned by Assignor and located in or on the Real Property, All of Assignor's interest in and to all zoning variances, building, use or other permits, approvals, authorizations, licenses and consents obtained from any governmental authority in connection with the development, use, operation or management of the Real Property, and all other general intangibles relating to the design, development, operation, management and use of the Real Property; All soils tests and engineering reports relating to all or any portion of the Real Property; and All of the maintenance and service contracts and other agreements described on Exhibit 2 hereto relating to the Real Property (the "Agreements"). In connection with the Agreements, Assignor, on behalf of itself, its successors and assigns, hereby agrees to indemnify and hold Assignee, its successors and assigns, harmless from and against all liabilities arising under the Agreements as a result of acts or events occurring before the date hereof but not thereafter. Assignee, on behalf of itself, its successors and assigns, hereby agrees to assume the obligations of Assignor arising under the Agreements from and after the date hereof, and hereby agrees to indemnify and hold Seller, its successors and assigns harmless from all such obligations arising under the Agreements from and after the date hereof. TO HAVE AND TO HOLD unto Assignee, its successors and assigns, to WARRANT AND FOREVER DEFEND, all and singular, title to such property unto Assignee, its successors and assigns, against every person whomsoever lawfully claiming or to claim the same, or any part thereof, by, through or under Assignor, but not otherwise, subject to all terms and provisions hereof and subject to the same Permitted Encumbrances listed and described on Exhibit B to that certain Grant Deed of even date herewith from Assignor to Assignee. This document may be executed in any number of counterparts, each of which may be executed by any one or more of the parties hereto, but all of which shall constitute one instrument, and shall be binding and effective when all parties hereto have executed at least one counterpart. IN WITNESS WI 11",REOF, Assignor and Assignee have caused this Bill of Sale and General Assignment to be executed as of December 23, 1999. ASSIGNOR: CITY OF SAN RAFAEL, a California municipal corporation By: Name: Title: By: Name: Title: ASSIGNEE' MCF PROPERTY HOLDINGS, INC., a California public benefit corporation By: n^o�� Name: Thomas Peters. Ph.D. Title: President and CEO EXHIBIT D-I TO BILL OF SALE AND GENERAL ASSIGNMENT DESCRIPTION OF REAL PROPERTY Err D- I TO BILL OF SALE AND GENERAL ASSIGNMENT DESCRIPTION OF REAL PROPERTY OFFICIAL RFt.ORDS COUNTY OF )SARIN wlcoao,mr. ■rouratto BY 53277 rT710 CI.,- of 'on Rafael City 11311 Snr R2f2el. Calif. o1a LTTN: Gd xafdK') `• F Saba 2s above o.. "^ L 1.111:: C..It. ,., 3::•31?0 F�:.1.�s� GECORDED AT -REQUEST OF TITLE INSURANCE ANMD TRUST COMPANY �T-15-0. MIN. PAST''?/'/AM• NOV 301976 Olfrd,l Afm* if Nub faaatt. Glil. - 1 rSL S 303_ afr0Or%m t -r ACC AaiOVC TWO LIN[ FOR YEfl.nnrA'A UR► T lndMIS +vldual Grant COR �Deed a L The an1c1t16Q.Jpantur(.) Jdlucla): Doeameotary Uaw" Ux U ) ?Zo_t)O __ (XI co:4pow as full value of property conveyed, or ( ) caepubrf nn ru4 vale. Las, value of Beat and enculehF11K 1071iinin6 at Ilene Of W1- ( 1 u=6_rp.,.,ed area. ( ) City of L03 FOR A VALUABLE CONSIDERATION, r-.-Irt -( -U-1 is )„r-hy aanovledsed. ROLAND 0. JOINM4 A.ND DORA JOILYSUN, nis wife LerAr CR1M(S) t. TNB CITY OF 3AH RAFALL, a Municipal Corporation the fello.,in(t dexrilml real property is the City Of Sat: Rafael C.„ary d Marin Seate afr lifa+nu: COMENCING AT A POINT UORTH 6 1/2e EAST 60 FEET FrOfi Thr 11OATHWESTeRLY CORMER OF TI•E HA115011 LOT SO-CALLED, SAID MANSON'S LOT DC114G THAT POP,TION OF BLOCK 1129". (111 THE TOW11 PLAT OF THE TOWN OF SAIL RAFAEL, AS SURVEYED BY COUNTY SURVEYOR A. 0. EASKOOT, A.D. 1:57) COtIVEYEO BY T. H_ HAIISON TO S. V. ui1Tn By DeeO OATCD MARCH 10, lOGG; TIICIICC PUt111114. I:OnTH 03 1/20 t1EST 100 FEET TO A STAr.F.; THLUCe I:tlkTn 5 1/2e CAST Z69 FeCT, CROS3IrIG HOODED ARROYO TO A STAKE; TtIENCE I.OP.TII 510 EAST 125 FEET C 11tcHes ALCIA; THE NORTHWESTEPLY SAUK OF ARPOYO TO T11F STALE Ili TIIE UESTEP.LY LIIIE OF LAND SOLD DT J. 0. OULLIS TJ S, V. S14IT14j THENCE SOUTH 6 1124 NEST 373 FEET 3 lNutitS ALD?%G THE VeST Lllle OF 3111TH'S LANG, rCCr033t11G AAROYO TO TIIE PLACE OF BEGII01114. N / v I A ll,I,d Have Pr S I 7c - _•-- Ra and 0, aM n %T%TE or r.. urnptmt•t 1 r7 ohn. o.-.tiay-25_101, Mme, ■,. 11., ar.i r :,-..I, . `l.a+n ILII.• i. a..l I...J.1 `lal,, s.—At _Rol and.n� v^t -• - Sad Dora .TohnA&m --__ --. _1111 —•---- tn•.a G. m, r•�•aaw v 41M v r -•n _ .6r u.v_S 7.LL wl•.'riMJ 1- Il...tlt,:r Plw a i 19 alrha r twl Ib a— ha- h" ta. .....�t�L•_ D-3 'lit, Ih.L-r I...,. -,-. 9t191S _ W,. '.A 6rA.1)xfP+1) AS tY Hmo A)" n a. on 11 11 • T 4 4 D 0 THIS MAP MAY OR MAY NOT BE A SURVEY OF THE 1 � N. • r w w J 4•�•� a ' yM��4. Yp1 ��aC:cL y UPON I f FOR ANY PURPOSE OTHER THAN ORIcrWTA- m .� TIONTOTIIEGENERA.LLOCATIONOFTHEPARCELOR D 0 THIS MAP MAY OR MAY NOT BE A SURVEY OF THE Ok A c y UPON I f FOR ANY PURPOSE OTHER THAN ORIcrWTA- m .� TIONTOTIIEGENERA.LLOCATIONOFTHEPARCELOR -Z '" o D THIS MAP MAY OR MAY NOT BE A SURVEY OF THE LAND DEPICTED HEREON. YOU SHOULD NOT PiLY c y UPON I f FOR ANY PURPOSE OTHER THAN ORIcrWTA- m .� TIONTOTIIEGENERA.LLOCATIONOFTHEPARCELOR -Z '" o NAHCELS DE?!rTED. FIRST AMERICAN IMCSSLY DISCLAIM ANY LIABILITY FOR ALLEGED LOSS OR OAMAGEWHICH MAY RESULT FROM REUANCEUPOFJ Tw9 b1Ar' •• 0 D-4 ExTUBIT D-2 TO BILL OF SALE AND GENERAL ASSIGNMENT' LIST OF AGREEMENTS EXHIBIT E EASEMENT AGREEMENT [SEE FOLLOWING PAGES] RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: Morrison & Foerster LLP 425 Market Street San Francisco, California 94105 Attn: Brian N. Poll, Esq. (Space above this line forRecorder's use) EXHIBIT E EASEMENT AGREEMENT THIS EASEMENT AGREEMENT (this "Agreement") is made and entered into as of December 23, 1999 between the CITY OF SAN RAFAEL, a California [municipal corporation] ("City"), and MCF PROPERTY HOLDINGS, INC., a California public benefit corporation ("MCFPH"). RECITALS A. City is the owner of the real property described on Exhibit E- I attached hereto (the "Falkirk Parcel"), on which City operates a community cultural center (the "Falkirk Mansion"). B. Concurrently herewith, pursuant to that certain Option Agreement dated as of December 23, 1999 between City and MCFPH (the "Option Agreement"), MCFPH is purchasing from City the parcel of real property located adjacent to the Falkirk Property and described on Exhibit E-2 attached hereto (the "Fee Parcel"). MCFPH intends, among other things, to construct and operate an office building on the Fee Parcel. C. Pursuant to the Option Agreement, and in connection with City's conveyance to MCFPH of the MCF Parcel, City has agreed to grant to MCFPH easements for access, utilities and landscaping over and across that portion of the Falkirk Parcel described in Exhibit E-3 attached hereto (the "Easement Parcel"), on the terms and conditions set forth herein. D. In partial consideration for such easements, MCFPH has agreed to grant an easement to City for parking purposes over and across a portion of the Fee Parcel, on the terms and conditions set forth herein AGREEMENT Now, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, City and MCFPH hereby agree as follows: 1. EASEMENTS FOR ACCESS, LANDSCAPING AND UTILITIES (a) City hereby grants to MCFPH (i) an easement for vehicular and pedestrian ingress and egress, and for the construction of improvements for roads and pedestrian walkways, over and across the Easement Parcel between Mission Avenue and the MCFPH Parcel; (ii) an easement for the construction, maintenance and repair of landscaping improvements on the Easement Parcel, including, without limitation, gardens, stairways and terraces; and (iii) an easement for the installation, operation, maintenance and repair of utility lines, including, without limitation, water and electricity distribution lines and telecommunication lines, over, across and under the Easement Parcel between Mission Avenue and the MCFPH Parcel. (b) City agrees that the easement granted herein to MCFPH for vehicular and pedestrian ingress and egress over the Easement Parcel is for the benefit of MCFPH and all of its tenants, occupants, licensees, invitees and guests. City further agrees that the Easement Parcel shall be used only by MCFPH and City and their respective tenants, occupants, employees, licensees, invitees and guests for ingress and egress among Mission Avenue, the Falkirk Parcel and the MCFPH Parcel. City represents and warrants to MCFPH that City has not granted, and agrees not to grant without MCFPH's prior written consent so long as this Agreement is in effect, in favor of any other parties any rights to use the Easement Parcel for vehicular or pedestrian access or any other purpose. (c) The road, walkway, landscaping and utility improvements to be constructed by MCFPH on the Easement Parcel shall conform to the description of such improvements set forth on Exhibit E-4 attached hereto. (d) City agrees that (i) the roadway lighting fixtures described on Exhibit E-4 hereto which are to be installed by MCFPH on the Easement Parcel shall stub off the existing electrical meter serving the Falkirk Parcel, (ii) City shall cause such roadway lighting fixtures to be operated on a schedule consistent with public safety and reasonable access to the Falkirk Mansion and the MCFPH Parcel, and (iii) City shall be solely responsible for paying the costs of such operation. (e) City agrees that MCFPH may connect any road, walkway, landscaping or utility improvements on the Easement Parcel to any similar improvements constructed on the MCFPH Parcel. (f) MCFPH agrees that if MCFPH installs a water distribution line on the Easement Parcel, City shall have the right to tap into such water distribution line, provided, however, that (i) such installation shall be constructed in a good and workmanlike manner, with minimal interruption of MCFPH's water service and upon reasonable advance written notice to MCFPH; (ii) to the extent that such installation increases the connection size or service, City shall pay all incremental increases in costs associated therewith; (iii) to the extent appropriate, City shall install separate meters for City's and MCFPH's respective water lines; and (iv) City shall maintain its water distribution line in good condition and repair so as not to impair MCFPH's water service. (g) MCFPH acknowledges that City intends to undertake certain construction on the Falkirk Parcel during the years of 2001 and 2003. City agrees to reasonably coordinate such construction activities with MCFPH's construction activities on the Easement Parcel so as to maximize efficiency and avoid delay. Without limiting the foregoing, City agrees that to the extent it plans to construct any connection between (i) roadway lighting fixtures located on that portion of the Falkirk Parcel not included in the Easement Parcel and (ii) roadway lighting fixtures constructed by Buyer on the Easement Parcel pursuant hereto, City shall use its best efforts to coordinate the timing of its construction of such connection with Buyer's construction of the roadway lighting fixtures on the Easement Parcel, so as to minimize any disruption of Buyer's use of the Easement Parcel, or the roadway lighting fixtures constructed by Buyer thereon, resulting from such construction activities of Seller. 2. PARKING EASEMENT IN FAVOR OF CITY MCFPH hereby grants to City, for the benefit of City and its tenants, occupants, licensees, invitees and guests, and for the benefit of the general public, an easement for the parking of vehicles in twenty (20) parking spaces to be constructed by MCFPH on the MCF Parcel and designated by MCFPH for such use; provided, however, that such grant of parking easement shall not be effective until after MCFPH has completed construction of its planned office building and all parking areas on the MCFPH Parcel. 3. MAINTENANCE OF IMPROVEMENTS AND LANDSCAPING ON EASEMENT PARCEL MCFPH shall have the right, but not the obligation, to maintain any improvements and landscaping on the Easement Parcel, whether or not originally installed by MCFPH, if City does not do so. 4. MUTUAL INDEMNITIES (a) MCFPH agrees to indemnify, defend and hold City and its officers, employees and agents harmless from and against all fines, suits, losses, costs, expenses, liabilities, claims, demands, actions, damages and judgments (collectively, "Claims") arising from (i) the use of the Easement Parcel by MCFPH or its tenants, occupants, licensees, invitees or guests, for vehicular or pedestrian ingress or egress pursuant hereto; (ii) MCFPH's installation, operation, maintenance or repair of any improvements or landscaping on the Easement Parcel pursuant hereto, or (iii) the use of the Falkirk Parcel or the Falkirk Mansion by MCFPH or its tenants, occupants, licensees, invitees or guests pursuant hereto, except to the extent that such Claims may arise from the conduct of City or its tenants, occupants, licensees, invitees or guests. (b) City agrees to indemnify, defend and hold MCFPH and its directors, officers, employees and agents harmless from and against all Claims arising from (i) the use of the Easement Parcel by City or its tenants, occupants, licensees, invitees or guests for vehicular or pedestrian ingress or egress; or (ii) the use of the MCFPH Parcel by City or its tenants, occupants, licensees, invitees or guests for parking pursuant hereto, except to the extent that such Claims may arise from the conduct of MCFPH or its tenants, occupants, licensees, invitees or guests. 5. MISCELLANEOUS 5.1 Attorneys' Fees If either party hereto fails to perform any of its obligations under this Agreement or if any dispute arises between the parties hereto concerning the meaning or interpretation of any provision of this Agreement, then the defaulting party or the party not prevailing in such dispute, as the case may be, shall pay any and all costs and expenses incurred by the other party on account of such default and/or in enforcing or establishing its rights hereunder, including, without limitation, court costs and reasonable attorneys' fees and disbursements. Any such attorneys' fees and other expenses incurred by either party in enforcing a judgment in its favor under this Agreement shall be recoverable separately from and in addition to any other amount included in such judgment, and such attorneys' fees obligation is intended to be severable from the other provisions of this Agreement and to survive and not be merged into any such judgment. S.2 Notices All notices hereunder or required by law shall be given in writing, sent via United States Mail, postage prepaid, certified mail, return receipt requested, via any nationally recognized commercial overnight carrier with provisions for proof of delivery, by personal delivery or via telecopier, addressed to the parties hereto at their respective addresses set forth below or as they have theretofore specified by written notice delivered in accordance herewith: CIT}: City of San Rafael City Hall — 1400 Fifth Avenue San Rafael, CA 94901 Attention: Mr. Rod Gould, City Manager Fax No.: 415/459-2242 WITH COPIES TO: Ragghianti, Freitas, Montobbio & Wallace 874 Fourth Street San Rafael, CA 94901 Attention: Gary T. Ragghianti, Esq. Fax No.: 415/453-8269 MCF: MCF Property Holdings, Inc. 17 E. Sir Francis Drake Boulevard Suite 200 Larkspur, CA 94939 Attention: Mr. Sid Hartman Fax No.: 415/464-2555 WITH COPIES' TO: Morrison & Foe�ster LLP 425 Market Street San Francisco, CA 94105 Attention: Brian N. Poll Fax No.: 415/268-7522 Any notice shall be effective only on the date of actual delivery or the date on which the addressee refuses to accept delivery. 5.3 Entire Agreement This Agreement, together with the Exhibits hereto, contains all representations, warranties and covenants made by MCFPH and City and constitutes the entire understanding between the parties hereto with respect to the subject matter hereof. Any prior correspondence, memoranda or agreements are replaced in total by this Agreement together with the Exhibits hereto. 5.4 Successors and Assigns This provisions of this Agreement shall constitute covenants running with the land and shall inure to the benefit of and be binding upon the respective successors in interest of City and MCFPH. 5.5 Counterparts This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. 5.6 Goi,erning Law This Agreement shall be governed by and construed in accordance with the laws of the State of California. 5.7 Amendments This Agreement may be amended or modified only by a written instrument signed by MCFPH and City. WBEREFORE, the parties hereto have executed this Agreement as of the date first written above. CITY: CITY OF SAN RAFAEL., a California [municipal corporation] ATTEST: By: By: E M+-E'O ByR D GOULD Its: City Clerk Its: City Manager MCFPH: MCF PROPERTY HOLD Gs, INC., a Ctlirniapublicb,e t cor oration Byas Peters, Ph.D. Its: President and CEO [Add Notarial Acknowledgments] CALIFORNIA ALL-PURPO*E ACKN State of California County of Marin On December 23, 1999beforeme, Susan Clav, Notary Public Date Name and Title of Officer (e.g., "Jane Doe, Notary Public") personally appeared Thomas Peters, Ph.D. Names) of Signer(s) impersonally known to me L proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the WAWA person(s), or the entity upon behalf of which the person(s) BUSM&CLAIY acted, executed the instrument. CortnlWon� 111l�q WITNESS my hand and official seal. t�ly cork. Exptre� Piav n, aao� a Air Signature of N6tary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Easement Agrpempni- (F.xh i hi t F. to (fin i an AgrPPmPrlt) between City of San Rafael and MCF Property Holdings, Inc. Document Date: December 23, 1999 Number of Pages: 6 Signer(s) Other Than Named Above: Rod Gould Capacity(ies) Claimed by Signer(s) Signer's Name: Thomas Peters, Ph.D. L] Individual XR Corporate Officer Title(s): President and CEO Partner — ❑ Limited -1 General Attorney -in -Fact Trustee _ [ , Guardian or Conservator - i' f ' Other: Top of thumb here Signer's Name: L. Individual C_' Corporate Officer Title(s): _! Partner — , Limited -I General Attorney -in -Fact 1 Trustee _ _l Guardian or Conservator owl 1 .. I Other: Top of thumb here Signer Is Representing: Signer Is Representing: 0 1996 National Notary Association • 8236 Remmet Ave., P.O. Box 7184 • Canoga Park. CA 91309.7164 Prod. No. 5907 Reorder. Call Toll -Free 1-800.876-6827 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of Marin On Wed. , 12/29/99 , before me, Date personally appeared Rod Gould ss. Nancy Eurman, Notary Public Name and Title of Officer (e.g., "Jane Doe, Notary Public-) Name(s) of Signer(s) IN personally known to me I ] proved to me on the basis of satisfactory evidence to be the personk-- whose name(*is ami subscribed to the wilt i instrument and acknowledged to me tt he she/they executed the same in is t3r✓tWr Aythorized capacity(�W, and that by hi hbT/tlw4r signature(> )-on the instrument the person(&), or the entity upon behalf of which the persons, acted, executed the instrument. WITNESS my hand and official seal. Place Notary Seal Above 1 nature of Notary Public L OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Easement Agreement (Exhibit E to Option Agreement) between City of San Rafael and MCF Property Holdings, Inc. Document Date: December 23, 1999 Number of Pages: Signer(s) Other Than Named Above: Thomas Peters, Ph. D. Capacity(ies) Claimed by Signer Signer's Name: Rod Gould WLEW ❑ Individual • 11Corporate Officer — Title(s): Top of thumb here ❑ Partner — ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator K] Other: _„City MarWer Signer Is'Representing: Ci tv of San Rafael Q 1997 National Notary Association - 9350 De Solo Ave., P.O. Boz 2402 • Chatsworth, CA 91313-2402 Prod. No. 5907 Reorder: Call Toll -Free 1•B00-876-6827 r NANCY EURMAN D C COMM. #1086576 11 II• NOTARY PUBLIC -CALIFORNIA Q rt �` v MARIN COUNTY My Comm. Expires Feb. 4, 2400 ss. Nancy Eurman, Notary Public Name and Title of Officer (e.g., "Jane Doe, Notary Public-) Name(s) of Signer(s) IN personally known to me I ] proved to me on the basis of satisfactory evidence to be the personk-- whose name(*is ami subscribed to the wilt i instrument and acknowledged to me tt he she/they executed the same in is t3r✓tWr Aythorized capacity(�W, and that by hi hbT/tlw4r signature(> )-on the instrument the person(&), or the entity upon behalf of which the persons, acted, executed the instrument. WITNESS my hand and official seal. Place Notary Seal Above 1 nature of Notary Public L OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Easement Agreement (Exhibit E to Option Agreement) between City of San Rafael and MCF Property Holdings, Inc. Document Date: December 23, 1999 Number of Pages: Signer(s) Other Than Named Above: Thomas Peters, Ph. D. Capacity(ies) Claimed by Signer Signer's Name: Rod Gould WLEW ❑ Individual • 11Corporate Officer — Title(s): Top of thumb here ❑ Partner — ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator K] Other: _„City MarWer Signer Is'Representing: Ci tv of San Rafael Q 1997 National Notary Association - 9350 De Solo Ave., P.O. Boz 2402 • Chatsworth, CA 91313-2402 Prod. No. 5907 Reorder: Call Toll -Free 1•B00-876-6827 ExHmrr E-1 DESCRIPTION OF FALKIRK PARCEL OFFICW. 1tEz:'OR.43 C>1QltIY OP �Iti ■eeo�o�Ha ,eeauts*eo oe RECORDED AT REQUEST OF ... Maly 1111.E 6�IARa/i+Y�C7�. NOV 14 7�1071 f � Otfa{� leefr'it �{ itrle @>�+t�• CACI. '- 29- 9 rAic' 03 40 h-7 4 aea;u. C, rLC RECORDER !03 CPArr Abnvr TY114 L,NC ran RCCORDER'S USE DOCUMEnTART 1RA145rER TAX S `XZ;A- Computed on h,ll call..: at p•n-1vl c m�ryq --OR CO -Puled on fin -iluc fc-SS I[_:I; d'A .�..: f J cn_'`"!hr.,^«A!=XayS ut uMe or lo. IS/.nmvCoo oof�tkt�'ar.Tnl `34r' L�dw.i •u•e La rum Name A au.._.Qui. I Grant. Deed I 11:r:r.a .• 1 . . l.- Itr.w I1w.—L4 or nrf c —u--cr. Mo Ta -r co..._. „.,,,. cs 7•.e.• 10435'0 n FOR A VALUADLE CON51DERATIO:Y, receipt of which in helebT tetnewled;TJ. FSTHF.R J. 1SQr.rAR, Ar SO KNOWN AR FSTHF.R J. DOLLAR EE1RE One of the Trustees under the Will of K. Stanley Dollar, deceasec CnAVT1,1 1v THn CITY OF 3AN AAPAEL, A Municipal Corporation, the L..;..F.I. 4.4 r-1 r^f•e', :. N. County C�Ft� limn s. -1e of CZ11r.mt.: Baeinning st the taouthoartorly corner of that lot of land conveyer! by Jamcs D. Dullis to 0. 8. Paskell, by deed dated Xuly 9th, 1e66, and recorded on page 113 of Libvr t of Decdb, In Lhe orCice or the County Re- corder or said 1t3rin County, said point of beginning being 233-1/2 feet Ie+;PaurPd nnrtherly alone the e23terly line of E Street from the northerly lido of 5th Avvrtue sand running thence by the true lneridlan on A rauris parallel to the northerly aide of 5th Avenue, Sguth 83 4 f L 319 1/2 feet to a post narked W. 2 x 8; thence North 23 31 E: at A6E1 0 Coot to a poab marked W. 3 x 9 driven 1n the cluerp or live cak brus e:; thence north j8 West 115 1/2 reef to a post m rke0 W. b x S Cres which a 11•Ic oak tree 2 feet in diameter marked B T. Y, 4 bearsSouth 230 rest 013- tant 9/1/b feet; thence north 6-1/a t5 ra9t 330 feet (at 130 feet this latter cour3c paeaea 2 foot west of wator tank), to the northeast corner uC that Io: ate land conveyed try Oy9ney V. Smith to Ja=cz D. Walker by deed dated July let, 1369, 314 _ecorded ort page 502 or Liber 0 of deeds, Marin County Rec3rds; thence by tate true meridian and as_ehding�trte south- erly -vlopo of S -in Rafael Hill, north 360 15' East 792 reet to a stake In %���op� enns co crerst overs ur from the hill north 5j0 451 }u5 ' �ert io a stay• in a ItdL ; thence descending from the hill in thi eneirs- of and alone; the eartarly line or the northerly poT- tlan of th-a larch fornerlx .r to O'Cormors; South 160 15' Yes_ 9132 rcct; theme South 3 301 'l-zt•o-30 Coot to the Olsce of heginninz. eontalnin6 11-1/10 acral, no;. or less. ALTO kn��� i�LEG }, '-n -.4-1ill- Su�rtaor'] ?s!esl 1'1-5, NW A E-7 I/ ri 1A elk TX,36N . iflom?fk- 11 Ji—n1wNt. .hem 1�, AS ZA: W, �'k*f A 4if:A.- 'r ,\ ...... M ^ ,`ta (. ••fl•": f, ^t �{"•; a`.� ' .t jia5' ± Via;" ': •� •a X, V, AIA / ExHmrr E-2 bESCRIPTION OF FEE PARCEL DFFICIAL Itil M COUNTY OF NARIN • i •• ntcoaolrr. ■rOrrr.T[o aY 5:3:?77 •.a •... SAC...l...1 n rTh. Clq, of San M fect 1 City Hall S=n Rafael, Calif. o. a ATTN t L J r 1•r SaYe at above 4 L 1. W. C..$I.,., a._•3120 F:_:1.�5� RECORDED AT REQUEST OF TITLE INSURANCE AND �Thus ( COMPANY AT-a2S�MtlV. PAST*/t��/JM. NOV 301976 015;1:1 L•t3+s A VVIN raratl. 61i1. Np %�ra,eant�.esi, VU S 6I03- prcnrrut -rACC APOWC TWUR UN[ rOR aErnonra•a Uar• r!ndIvldual Grant Deed AL Talc a rrdetsi6aA V-wr(.) DacuwW, r7 Umder lis is$22 a _ 0O ( z1 coopatad ea fol! Tdoe of properly tco+cyrd, or ( ) wspata l An F0 wahw Lja value .f Best lad cmurdratca ttmaini.6 d woo of "k - U.:. . a)cU.'.. , ' r..l ( ) City .( _ and FOR A VALUABLE CONSIDERATION,r. :P4 .( .L:.L;a )-r'bT aae.elydtcd. ROLAND 0. JOINSO,Y MD DORA JOHN", RiS Vife 1 r"j, CRAN?(S) t. THE CITY OF 3M RAFACL, a Municipal Corporation Ibe fo!)o. iag dewribeJ tea( prepcn7 in the City of Satz Rafael Ca,eq .( Harin . Sra1r of Glif.m1m: COFYIENCING AT A POINT NORTH 6 1/2' EAST 60 FELT Fr:O)I T11E IIORThWC3TGRLY CORMrrR OF T1•E KMIS014 LOT SO-CALLED, SAID HANS011rS LOT BEING THAT PORTION OF BLOCK I1191t, (III TIIE TOutl PLAT OF 1`11E TOWN OF SAI( RAFAEL, AS SURVEYED BY COUNTY SURVEYOR A. D. EAS1400T, A.D. 1-.57) CO/IVEYED BY T. H. HAl1SCIt TO S. V. 51ilTn BY OI:ED DATLO KARCI( 101 LOG&; TIICIICC rUN14114 ItOnTH 83 1/20 WEST 100 FEET TO A STAr.F; THtNCE 1,UKTM 6 112' EAST 159 PCCT, CROSSNIG WOODED ARROYO TO A STAKE; TiIENCE I.nP.Tli 590 EAST 175 FEET C 111CHES ALCrtG THE NORTHUEMPLY 6ANK OF ARPOYO TO THF STA):E (); THE VESTEP.LY LIME OF LAND SOLD DY J. D. OULLIS TJ C, Y. SHIT11j THRfIC6 SOUTII 6 1/70 NEST 373 FEET 3 INCntS ALONG THE UCST LIuG OF 311ITHrS LA)io, rccrosntmi: ARROYO TO TIIE PLACE OF BEGII01111G. / V I A Rater( meYrsh.r S 1916 - --- — - Qo and 0, otln n .%TiTE or c1L1MF` 1.r _ On -.KgY-z5-lmb— mt, ■..Ir. anter- ra ahnerry Val-. W—AMY -DoSaad.Q- r'L-•^•• a.od Dora Ioh— r. 41M >r.., --. -•6.. u.v_3 12L w}-.•ril�J i.. In..nL:, ® R1A13 t t! ttrar taat_tsea�r :r, --1 ..•I It.• -A�- Clem IF 011101 \ITN'C'C' .rL//J-.I .nL :.I -.L l/Damn, Ah. h.r n ft 11ll� Ik1•r �., F' -r•.• .• L-,. ♦.. 914915. Q KAII Tnt 6tATEx(M1 AS Dd►iC"O A)0rt 1?11 • 1"'.1 E-9 UtC-lu-yd Thu I U[ U rlrLt Utr'I• r1 I -HA NUI gdtj' n OA c% G Mx r D THIS MAP MAY OR MAY NOT BE A SURVEY OF TWE LAND DEPICTED HEREON. YOU SHOULD NOT FiLY UPON l f FOR ANY PURPOSE OTHER THAN ORICWTA- ` 3 S TIONTOTIIEGENER!LLOCATIONOFTHEPARCELOR m q '^ VIANKELS DE;A.CTED. FIRST AMERICAN I-PRESSLY OISCLAWS ANY LIABILITY FOR ALLEGED LOSS OR DAMMAGEWHICHMAYRESULTFROMRELIANCEUPON THIS kv. ' U � n Pk* Amrtcan Tale Co wpcmy Of g �" rm- E-10 DESCRIPTION OF EASEMENT PARCEL EXHIBIT E-3 DESCRIPTION OF EASEMENT PARCEL INGRESS AND EGRESS EASEMENT All that real property in the City of San Rafael, County of Marin, State of California, being an easement for ingress and egress over that portion of the lands of the City of San Rafael as described in the deed recorded in Book 2848 of Official Records, Page 293, Marin County Records, and more particularly described as follows: BEGINNING AT the southwesterly comer of said lands, also being the southeasterly comer of the lands of the City of San Rafael as described in the deed recorded in Book 3120 Official Records, Page 184, Marin County Records, thence, northerly along the easterly line of said lands also being the westerly line of said lands first described above, North 6052'00" East 382.39 feet to the northeasterly comer of said lands second described above; Thence, leaving said common line, South 54008'00" East, 25.50 feet; Thence South 46°08'00" East 25.67 feet; Thence South 29008'00' East 20.25 feet; Thence South 0008'00' East 43.54 feet; Thence along a non -tangent curve to the west, from a line bearing South 6005'20" East to the radius point, with a radius of 26.00 feet, through a central angle of 45025'08", 20.61 feet to a point of compound curvature; Thence, along said curve with a radius of 100.00 feet through a central angle of 25026'21", 44.40 feet; Thence South 13003'11" West, 38.44 feet; Thence along a tangent curve to the left with a radius of 115.00 feet, through a central angle of 13017'10', 26.67 feet to a point of compound curvature; Thence along said curve with a radius of 190.00 feet, through a central angle of 17011'46', 57.02 feet to a paint of reverse curvature; Thence, along said curve with a radius of 220 feet, through a central angle of 14043'00', 56.51 feet to a point of compound curvature; Thence, along said curve with a radius of 384.00 feet, through a central angle of 9037'45", 64.54 feet; Thence South 6055'00' West, 4.00 feet to a point on the southerly boundary line of said lands first described above; Thence westerly along said southerly line also being the northerly right of way line of Mission Avenue, North 83005'00' West, 62.64 feet to the POINT OF BEGINNNING. Prepared by: I.L. SCH RTZ ASSOCIATES, IN 4�pFESS/O,,/ �^ pUIS SOy�l<2 Ir�prf� L. Schwan , C.E. w No. 18221 N m 6970e;mt.doc 07/19/99 d Exp. 6-30-01 � �lglFCIV IL OF C ALF EXHIBIT E-3 I.L . 56Hk IAR TZ A55061A TE5, INC. o GlV/L ENGINEERING AND LAND SURVE7NG 79 6ALLI DRIVE NOVATO, CA 94949 (4/5,1'365-9200 FAX 685-2763 INGRESS/EGRESS EASEMENT I JISSION � VS DRA$ . .,_n nr. J.R.H. 6970 DA rte: sx NO. 7//7/99 1 OF r . YA 5 54 06 L;o 1) , 25.5o' 5 / 2567' j\5 29 06 Gb' E / 'j % ?0.25' ./ / •P, mss. moo. i d= 25162/' R= /00.Cr7' L= 444A?' �m ,'I rr OF 5A RAFAEL 3/20 OR l64 API/ -162-/7 / 97.98' S B3 05L70 • E rC,,• 61 TY OF 5AN RAFAEL 2646 OR 293 APN 11-131-05 d= 14043W' / R=220.00' L= .5651' i. I c= 9 37'45' i R= 36400' L= 6454' 55W' E 6164, 5GALE I" = 50' R= //S.co L - 26.67' k ' a= 17'//'46' R= 190.00' L= 57.02' 61 TY OF 5AN RAFAEL 2646 OR 293 APN 11-131-05 d= 14043W' / R=220.00' L= .5651' i. I c= 9 37'45' i R= 36400' L= 6454' 55W' E 6164, 5GALE I" = 50' EXMBIT E-4 DESCRIPTION OF EASEMENT IMPROVEMENTS [To FOLLOW] Date: May 19, 1999 File: 4.1023.00 EXHIBIT E-5 DESCRIPTION SANITARY SEWER EASEMENT A strip of land 5 feet in width, lying 2-1/2 feet on both sides of the following described line: BEGINNING at a point on the easterly line of the parcel described in Deed to the City of San Rafael, recorded November 30, I976 in Book 3120, Oficial Records, at Page 184, Marin County Records, said point being North 06° 54'51" East, along said line 10.36 feet from a 3/4 inch iron pipe and tag LS 3303 marking the southeast corner of said City parcel; Thence leaving said easterly line, South 48 *2 1' 17" West, 13.83 feet to the southerly line of said City Parcel, also being the northerly line of 5th Street, and the Point of Termination of this easement; Extending and shortening side lines of said easement to terminate at said City Parcel boundary lines. /gyp LAND SU ase expims 6-30-00 \Jil 3303 \F �F C Al 1F0 r r LANDS Of7•}4E C1T y OF SAN RAFT r (3090 0"t 225) r N 06'54'51 " E 380.31' S 4E'21'17"W 13.83' 5' SANITARY SEWER EASEMENT —� EXISTING PAC W BELL EASEMENT 96-026769 Z `-' Q od rn LANDS of THE 9120 CORY r SAN RAFAEL N 06'52'00" E 294.61' LOT 1 CSW CSW STUBER-STROEH st]2 ENGINEERING GROUP, INC. CONSULTING ENGINEERS 790 DeLong Ave., Novato, CA. 94945-3246 GRAPHIC SCALE .20 0 20 40 t t t of '" r ( IN FEET ) r 1 inch = 20 ft. r . r 1"=20' MAY 20, 1999 4102300\EXHIB17 PLAT TO ACCOMPANY DESCRIPTION SANITARY SEWER EASEMENT EXHIBIT "B" EXHIBIT E-6 DESCRIPTION OF DRAINAGE EASEMENT EXHIBIT E-6 Date: May 19, 1999 File: 4.1023.00 DESCRIPTION STORM DRAINAGE EASEMENT Parcel One A strip of landl0 feet in width lying 5 feet on both sides of the following described line: Beginning at a point on the easterly line of the parcel described in Deed to the City of San Rafael, recorded November 30, 1976 in Book 3120, Official Records, at page 184, Marin County Records, said point being South 06°54'51" West 38.00 feet from the most northerly corner of said parcel; thence leaving said easterly line, South 54°30'00" West 17.00 feet; thence South 88'00'00" West 40.00 feet to a point, for convenience sake hereinafter referred to as point `A'; thence South 47°00'00" West 58.86 feet; thence North 83'08'00" West 8.82 feet to the westerly line of said City of San Rafael parcel (3120 OR 184); Parcel Two A strip of land 10 feet in width lying 5 feet on both sides of the following described line: Beginning at the point herein before referred to as Point `A' in Parcel One above, thence North 17 ° 34'34" West 7.67 feet to the northwesterly line of said City of San Rafael parcel (3120 OR 184); Excepting therefrom that portion lying within the herein before described Parcel One. SAND G. S .we expires 6-30-00 3303 /,Z' y S� LA LOT g 38.00' N 0154'51" E 380.31' lf3 NO,. .01 DOi 10.00, I r INCS C3 I 4- I oro C) I ssIs �e I "I F LANDS of THc C7'Y OF SA -N GAEL (3000 D"L 22-5) L-4lqDs of THE - PT. 'A" 3-120 O � B4 SAN R�AEL. C-1 EPS3�,34 \ 10' STORM DRAIN EASEMENT 00 o �1, s'0 LOT 4 \ GRAPHIC SCALE 20 0 20 40 i r a IN FEET ) 1 inch = 20 ft. Csw CSW STUBER—STROEH st]2 ENGINEERING GROUP, INC. CONSULTING ENGINEERS \ S83'08'00" E 8.82' 1 N 06'52'00" E 1 I 1 1 1 I I � I I 1 1� 294.61' 107.25' (MAP) LOT 3 I EXIST. DRAINAGE EASEMENT I 1"=20' MAY 20, 1999 4102300\EXHIBIT PLAT TO ACCvmrr l f DBMMON STORM DRAIN EASEMENT EXHIBIT F SELLER'S CLOSING CERTIFICATE For valuable consideration, the receipt and sufficiency of which is acknowledged, the CITY OF SAN RAFAEL, a California municipal corporation ("Seller"), hereby certifies to MCF PROPERTY HOLDINGS, INC., a California public benefit corporation ("Buyer"), that all representations and warranties made by Seller in the Option Agreement (the "Option Agreement") dated as of December 23, 1999 between Seller and Buyer, are true and correct on and as of the date of this Certificate, and that all of the covenants of Seller under the Option Agreement to be performed on or before the Closing Date have been fully performed as of the date of this Certificate. This Certificate is executed by Seller and delivered to Buyer pursuant to the Option Agreement. Dated: , 199 CITY OF SAN RAFAEL, a California municipal corporation By: Its: By: Its: EXHIBIT G DESIGNATION AGREEMENT This DESIGNATION AGREEMENT (the "Agreement") is entered into as of December 12, 1999 by and between THE CITY OF SAN RAFAEL, a California municipal corporation ("Seller"), and MCF PROPERTY HOLDINGS, INC., a California public benefit corporation ("Buyer") and FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation ("Escrow Agent"). I. RECITALS A. Pursuant to that certain Option Agreement entered into by and between Seller and Buyer, effective December 23, 1999 (the "Option Agreement"), Seller has agreed to sell to Buyer, and Buyer has agreed to buy from Seller, that certain real property located in San Rafael, California, and described more fully on attached Exhihit A (the "Property") (The purchase and sale of the Property pursuant to the Option Agreement is sometimes referred to below as the "Transaction"). B. Section 6045(e) of the United States Internal Revenue Code and the regulations promulgated thereunder (collectively, the "Reporting Requirements") require an information return to be made to the United States Internal Revenue Service, and a statement to be furnished to Seller, in connection with the Transaction. C. Pursuant to Section 4.1 of the Option Agreement, an escrow has been opened with Escrow Agent [Escrow No. I through which the Transaction will be or is being accomplished. Escrow Agent is either (i) the person responsible for closing the Transaction (as described in the Reporting Requirements) or (ii) the disbursing title or escrow company that is most significant in terms of gross proceeds disbursed in connection with the Transaction (as described in the Reporting Requirements). D. Seller, Buyer and Escrow Agent desire to designate Escrow Agent as the "Reporting Person" (as defined in the Reporting Requirements) with respect to the Transaction. II. AGREEN1ENT Now, TIIEREr•ORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Seller, Buyer and Escrow Agent agree as follows: 1. Escrow Agent is hereby designated as the Reporting Person for the Transaction. Escrow Agent shall perform all duties that are required by the Reporting Requirements to be performed by the Reporting Person for the Transaction. 2. Seller and Buyer shall furnish to Escrow Agent, in a timely manner, any information requested by Escrow Agent and necessary for Escrow Agent to perform its duties as Reporting Person for the transaction. . 3. Escrow Agent hereby requests Seller to furnish to Escrow Agent Seller's correct identification number. Seller acknowledges that any failure by Seller to provide Escrow Agent with Seller's correct identification number may subject Seller to civil or criminal penalties imposed by law. Accordingly, Seller hereby certifies to Escrow Agent, under penalties of perjury, that Seller's correct identification number is 4. The names and addresses of the parties hereto are as follows: SELLER: City of San Rafael City Hall - 1400 Fifth Avenue San Rafael, California 94901 Attention: Mr. Rod Gould BUYER: MCF Property Holdings, Inc. 17 E. Sir Francis Drake Boulevard Suite 200 Larkspur, California 94939 Attention: Mr. Sid Hartman ESCRowAGEw. First American Title Insurance Company Attention: 5. Each of the parties hereto shall retain this Agreement for a period of four years following the calendar year during which the date of closing of the Transaction occurs. 6. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall constitute one and the same agreement. 7. This Agreement shall be governed by and construed in accordance with the laws of the State of California. IN WITNESS WHEREOF, the parties have entered into this Agreement as of the date and year first above written. SELLER: CITY OF SAN RAFAEL., a California municipal corporation ATTEST: By' EANNEI LE INI Its: City Clerk By: <OD GOULD Its: Citv Manaaer Its: BUYER: MCF PROPERTY HOLDIN INC., a rnia public bene it co poration By: o as Peters, Ph.D. Its: President and CEO ESCROIVAGENT.- FIRST AMERICAN TITLE INSURANCE COMPANY, a corporation By: Its: By: Its: EXHIBIT H GRANT AGREEMENT BETWEEN MCF PROPERTY HOLDINGS, INC. AND MARIN ARTS COUNCIL 1. 2. Grant Agreement between MCF Property Holdings, Inc. 17 East Sir Francis Drake Blvd, Ste. 200 Larkspur, CA 94939 and Grantee: Marin Arts Council Address: 251 North San Pedro Rd., Bldg. O San Rafael, CA 94903-4412 Telephone: (415) 499-8350 Contact Person: Ms. Jeanne Bogardus Title: Executive Director TERMS AND CONDITIONS OF GRANT: The following terms and conditions must be met by the above named Grantee ("Grantee") in order to receive the grant that has been awarded. If and when the Grantee fails to meet any of these terns and conditions, MCF Property Holdings, Inc. ("MCFPH") may withdraw its award and terminate this Grant Agreement ("Agreement") and shall thereupon have no further obligation to disburse to Grantee any remaining unpaid grant funds, and may further require repayment of any grant funds which were not used in accordance with the terms of the Agreement, including the grant purpose and objectives set forth in this Agreement. In addition, MCFPH shall have all other rights available at law against the Grantee arising out of a breach of this Agreement. Grant Purpose To renovate the third floor of Falkirk Cultural Center for Marin Arts Council tenancy. General Terms Grant No. MCFPH 1999-01 Grant Amount $350,000 Payment Schedule Payment is to be made at closing. 3. Special Conditions • Grant is to be used only for renovation of the third floor of Falkirk Cultural Center. • Grant funds are to be paid at MCFPH's closing. • Grant is conditioned upon MCF Property Holdings, Inc. exercising its option agreement with the City of San Rafael to purchase the Menzies parking lot. • Grantee must submit project budget. • Grantee shall deliver entire grant amount to City of San Rafael immediately upon payment to MAC by MCFPH. • If, as the City investigates conditions associated with the renovation of the third floor of Falkirk Cultural Center, facts come forward which are not now apparent, rendering the renovation infeasible, the City may reopen discussions with MCFPH regarding an alternate direction for use of these funds. • If, after the City investigates conditions associated with the renovation of the third floor of Falkirk Cultural Center, it deems the renovation feasible, MAC will enter into a below-market rate lease with the space with the City of San Rafael. MCF Property Holdings, Inc. Pagc 1 of 3 4. Hold Harmless Agreement The Grantee hereby irrevocably and unconditionally agrees, to the fullest extent permitted by law, to defend, indemnify and hold harmless MCFPH, its officers, directors, trustees, employees, and agents, from and against any and all claims, liabilities, losses and expenses (including reasonable attorneys' fees) directly, indirectly, wholly or partially arising from or in connection with such grant, the application of the funds furnished pursuant to such grant, the program or project funded or financed by such grant, or in any way relating to the subject matter of this Agreement. This paragraph shall survive the termination of this Agreement. 5. Public Acknowledgment The Grantee agrees to consult with MCFPH before releasing any written communications to the general public about this grant. This includes publications, press releases, brochures, videotapes, or other publicity or public relations materials and presentations. All public information activities should be coordinated through the MCFPH President's Office. 6. Nondiscrimination The Grantee agrees that, in the performance of this Agreement, it will not unlawfully discriminate in its employment practices, volunteer opportunities, or the delivery of programs or services, on the basis of race, color, religion, gender, national origin, ancestry, age, medical condition, handicap, veteran status, marital status, sexual orientation, or any other characteristic protected by law. 7. Handicapped Access Grantee shall make reasonable efforts to make the programs and facilities which are used for client services provided under the terms of this Agreement physically accessible to handicapped and disabled persons. 8. Project Objectives, Budget, and Use of Funds Funds must be used by the Grantee strictly in accordance with the terms of this Agreement, including the grant purpose set forth in Paragraph 1, and the Project Objectives and Project Budget. 9. Access To and Use of Project Information The Grantee agrees to provide MCFPH with full access, except to the extent specifically prohibited by applicable law, to any and all information developed in connection with or arising from the activities funded by this grant. The Grantee authorizes MCFPH to use, reproduce or publish, free of any charge or royalty, and to authorize others to use, reproduce, or publish, free of any charge or royalty, any and all such information, including but not limited to reports, budgets, copyrighted materials, or other data. MCFPH agrees to properly attribute authorship in the use, reproduction, or publication of any information developed with these grant funds, and further agrees to include copyright notice, in any of its publications, of any copyrighted material. 10. Project Review and Evaluation The Grantee agrees that MCFPH may review and/or evaluate the project funded by this grant. This may include visits by representatives or agents of MCFPH to observe the Grantee's project operations and data, and to discuss the project with the Grantee's staff or governing board. 11. Payment Grant payments will be made by MCFPH according to the payment schedule set forth in Paragraph 2 of this Agreement. 12. Modification and Termination The terns of this Agreement may be revised or modified only with the prior written consent of both parties. If and when the Grantee fails to meet any of the terms or conditions of the Agreement, MCFPH may withdraw its award and terminale the Agreement and shall thereupon have no further obligation to disburse to Grantee any remaining unpaid grant funds, and may further require repayment by Grantee to MCFPH of any grant funds which were not used in accordance with the terms of the Agreement including the grant purpose and objectives set forth in Paragraphs 1 and 3 of this Grant Agreement. The Grantee may terminate the Agreement at any time, by written notification to MCFPH accompanied by a final report as required in Paragraph 12, and the return of any unspent grant funds to MCFPH. MCF Property Holdings, Inc. Pa,,c 2 of 3 13. Limit of Commitment This award is made with the understanding that MCFPH has no obligation to provide other or additional support for this project; nor does this award represent any commitment to or expectation of future support from MCFPH for this or any other project of Grantee. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered as of the date listed below. Dated as of , 19 In signing this document, the Grantee signatories each acknowledge that they have been authorized by Grantee agency to sign on its behalf, that they have read and understand the entire Grant Agreement, and that Grantee accepts and agrees to its terms and conditions. The Agreement shall not be effective until MCFPH has received and approved a signed copy with the required schedules from Grantee, and has signed and reconveyed a copy of the entire Agreement to Grantee. By its acknowledgment below, the fiscal agent agrees for the benefit of MCFPH to perform its obligations as set forth in the attached memorandum of understanding. GRANTEE By: Its: Executive Director and By: Its: President of the Board MCF Property Holdings, Inc. By: Its: Thomas Peters, Ph.D. President MCF Property Holdings, Inc. Page 3 of 3