HomeMy WebLinkAbout _ 4.1(b)--Purchase and Sale agreement with Technisoil Industrial Inc. � � �' � � �
� � � ' � �' � � ' � ` CITY OF REDDING
REPORT TO THE CITY COUNCIL
MEETING DATE: May 6,2025 FROM: Jason Gibilisco, Management
ITEIVI NO. 4.1(b) Assistant to the City M�anager
***APPROVED BY***
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jgibilisco@cityofredding.org btippin@cityofredding.org
SUBJECT: 4.1(b)--Purchase and Sale Agreement with Technisoil Industrial Inc.
Recommendation
Authorize and approve the following:
(1) Approve the Rea1 Estate Purchase and Sale Agreement (PSA) with Technisoil Industrial
Inc., for 25.41 acres of City of Redding-owned property located at 6155 Venture
Parkway, Stillwater Business Park Parcel 12 (Assessor's Parcel Number 054-260-004),
for the appraised value; and
(2) Authorize the Mayor to sign the PSA and other documents needed to complete the sale
and transfer of the property.
Fiscal Impact
The sale of the property is for the appraised value, subject to adjustments for closing costs,
escrow fees, and broker's fee. The net proceeds will be deposited into the General Fund.
Alternative Action
The City Council (Council) could al�er the terms of the Purchase and Sale Agreement or choose
not to se11 the property at this time.
Backg�ound/Analysis
Technisoil Industrial Inc. (Technisoil), has submitted an offer to purchase a City af Redding
(City) owned property located at 6155 Venture Parkway (Assessor's Parcel Number 054-260-
004), also known as Stillwater Business Park Parcel 12 (25.41 acres) as depicted in the attached
location map. Technisoil is planning to build a manufacturing warehouse and global
headquarters to house their new pavement technology operations.
The listed property is part of the Stillwater Business Park planned development. The basic terms
and conditions of the agreement include:
Report to Redding City Council May 5, 2025
Re: 4.1(b)--Purchase and Sale agreement with Technisoil lndustrial lnc. Page 2
• Refundable deposit of$10,000;
• Price to be based off current appraisal;
• Due diligence period of 60 days;
• Closing shall occur on or before 30 days following the due diligence period;
• Split escrow fees; and
• The City will pay a broker's fee of three percent on the purchase price.
The Property was declared exempt surplus property on October 6, 2020, by Resolution 2020-
119.
Environmental Review
The sale of City-owned property presents no significant impact on the environment and is
therefore categorically exempt from review under the California Environmental Quality Act
Guidelines Section 15312 (Surplus Government Property Sales).
Council Pr�ioNity/City Manager Goals
• Economic Development — "Facilitate and become a catalyst for economic development
in Redding to create jobs, retain current businesses and attract new ones, and encourage
investment in the community."
Attachments
^Location Map
^Purchase and Sale Agreement
Stillwater Business Park Parcel 12
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Redding GIS
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+�L�STATE PURCH��E AND SALE AGRE�MENT
This I�eal Estate Purchase and Saie Agreernent {"Agreement"), clated for reference pury�oses
o��1y as of` ,2025, is n�acle by and l�etween the City of R:ecldii�g,a n�unicipai corporati�n
("Sellet"},and Tecl�nisoil Industrial i��c.,a L�elaware Carporatiioil ("Blayer"),(collectiiVely the"Parties"
or individL�ally a"Pac-ty").Tl�e latest date for which this Agreernent is mutualCy executed and c�elivered
by botll parties is hereinafter Y�efer��ed t�r as tl�e"Effe�tive Date,"
l�CITALS
A. Sellety�s tl�e owner�of that certain teal property (ocaied in the City of Reddi��g,County
of SlZasta, State of Califc�rnia; in t1�e deve[opment of Stillwater Business Park, commanly known as
6155 Venture Parkway;Reddi��g, California 9�002,and �hasta Cozznty Assessor's F'arcel No.054-2�0-
404, ancl leg�lly desct�i�ed as failows:
Pa�cel 12, as slzown on the M�p of Stillr}vater Busi��ess Park Parcel Map 5-07 &PD 4-
07, MDM Reeorded May 8, 2008„ in Baok 3� af Parcel Maps at Page 93j and tllace
particular�y desct�il�ecl it� Exliibit"A."hereto {tlte "Propei-Cy"}.
B. I�uyer desires to pt�i:ci�ase the Propert}� frc�in Seller; alad Se11er desites to sell the
I'raperty to Btayer, an t1�e tertns �i1d cc�ilditior�s sef forth 1lerein.
NOW, TI-�EREFQRE, Seller and B�►yer agree as follows-;
l. Praner�tv �'urchased and Sole�. 5e11�r agtees ta sell �nd co�ivey all of Seller's rights,
title and illterest in tl�e Praperty to Buyer, anci Buyer agrees to purchase and aceept the convey�nce on
a11 of Seller's rights,title,and ii�terest in the Praperty froin �eller, ot�tl�e terms and coliditiot�s s�t foi-kh
hereir�, Tl�e Property shall it�clude all of Seller-'s rights, title, and interest, if any; in and to (a) a(l
E�uildir�gs and i�n�rovernents [ocated c�n th�Property,{b)aIl water,mineral and r�ther rights�ppl�rtenant
to the propei•ty, tc� t11e exte��t owned !�y Se�ler; antl (d} the Seller's interest i» al1 tr��asfei:able pei•�nits
and licenses, if aa�y, rel�ting tc�tlYe Property.
2. Furchase Price.
2.1. The purcl�ase pt•ice for the Pro�erty slzall be t4�e fair market value of t�Se fee
simple estate ii� the Fraperty; at its I�ighest and best use. Such value sh�ll be deteimined by apprais�l
as af a cl�te that is no earlier tl�an sixty (60) days prior to the Effective Date in accordat�ce witl� this
Section 2.
2.�: The S�Iler shall retai�l aiz appraiser to �ppraise til�e fair mar�ket value of tl�e
Prope�-ty as��rovicled far herein(tl�e"Appr�'rser"}. Sucl�Appraiser shall be arz MAI Designated inember
of the Ap�raisal Institute ("MAI"} wha l�as a �ninirnUin of ten (14)years' of experienee appraising
similar praperties witlxin the State of Ca�iforllia. The apprais�l and resulting appraisal report {the
"Appraisal Report") slaall b� a sta�7clalone appraisal of the fair tnarket value ofthe Property only {i:e.,
it sliall nat be a izew or irpdated appraisal Qf the fair inarket values of al! of the Seller's utisolcC p�rcels
withii� Stillwater Busil�ess 1'�rk}:
R�AL E3TATCPURC[iA:�E�ND SALLt\GRI:fMENT Page l
GITY C1F K�I7DIIQGI T�CIIN150CL INDIISTRlAL 1NC.
2.3. The az�alyses, apinions, ar�d canclusic�ns of the Appraiser sha11 be based upon,
az�d the AppraisaC F�epork sl�al l be pt�epared ii� conformance�ith, the g�.aidelines at�d recam�ne��dations
set forth in the U��ifor�n Stat�cl�rc�s ofPt•ofessional Appr•aisa�Fracti�e,and the requir•emer�ts oftlle�ode
of I'rofessional �tl�ics �nd Sta�ldaijds of Professional Appraisal F'tactice of the Appraisal Institute.
Buyer aild Sellee shali be intended t�sers c�f the appraisal and Appraisal Repot�t.
2.�. The appt{aisal al�d Appi�aisal Report shall be c�mp�eted ��0 later than forty-fve
(45) days'following tlle Effective Date. Seller�l�a1l provide Bl�yer with a copy c�f the Appraisal Report
�rompfly folltrwi��g receipt therecsf fro�n tl�� Appraiser. The fair market value of the Pro�erty as set
fortll in the A�p�i��isal Report sl�all be the pt�r-chas� price for the Property �the "Purchase Price"). IF
Buyer does not approve ofthe Purchase Price as cleterminecl by the Appraisal Report,Buyer sha11 have
tl�e ri�;ht to termirzate this Cr���tract within five {5} btisiness ciays of Buyer's receipt of the Apprais�l
Repc�rt. If B�lyer tertni��ates tl�is Contract t�nclel• tl�'rs Paragr�ph by providing �iatice to Seller, ��l
t`efundab7e Earnest Money, sh�ll be rett�rned to Buyer anc�the par-ti�s s�lall be relieved of any fi�rthei�
obligatians hereundee�.
2.5: Seller to p�y for appraisal eosts:
3. �`.�yment; De�posit. Buyer s1�all pay the Purchase Price to Seller through tl�e Escraw�s
follows:
3.1. Within fi�e (5} bl�siness da}�s following the Effective Date,B�Xyer shall deliv�r
to 'the Escraw Agent the sum c�f Ten Thousar�c� Doll�cs {$1O,OOQ.QO} by wire transfer or� other
immediately�vailable func�s(the"I)eposit"}.The Deposit shall,be applrcable(1}to the Ptiirchase Price
L�pan t11e C[ose c�f Escrow, shoutd tllat occur, ot• {b) refti�nded to the BGtyer if this Agreement is
tertnii�ated by �»y Party witlio��t c�t�se prior to the expiration of the Dtie diligence l'erit�d , or(cf paid
to the Seller as liquidated clainages, i�z each case as otherwise pravided l�erein.
3.2. At least two (2) ?�usiness day prior tt�the Close of Escrow, Btayer shall cleliver
to tl�e Escrow A�e��t cas11 or otl�er immediately available funds in an ainc�tint eqlial to t11e Pi.�rchase
Price, (ess the I�el�osit{the "Balance oftlre F'urcl7�se I?rice'")..
3.3. Th� P�irchase Pcice, less all cl�ai��es to Sel[ei•,s accQunt praVided for liereil�,
will be d'istributeci to Seller fron�tl�e Escrow iapon the Clase of E�crow.
4. f��tentionaily C�rr�ittedl. This sectioia has bee�1 intentionally left blank.
S. �scrow. Within five(5} bu�iness days fallowing tl�e Effective Date, Bc�yec-anc� �eller
s�Yall open an esc�•ow ("Escrow") 'rnterest-�ieacing accolrnt with Place�Title �omp�ny,2145 La��kspl.tr
Lane, Suite A; R�,c�ciing, C�lifai•nia 96002, Attentic�n: Norina Chicoine (the "Escraw Agent"). This
agreei��e�it shall constitlrte e�crow znstr��ctiocis to and for the benefit af the Escrow Agent to facilitate
tlYe Clcssing {as defined below). l'rior ta tl�e Closing Date; Seller �nd Buyer rnay each give any
adciitio��ral writter� escrow iilstruct�ot�� to tl�e Escraw Agent w��icl�t are reasonably necessary ta
accornpl�sl�t1-►e Closii�►g in aceorda��ce with this Agreement; pcovided th�t, iii tl�e event of any conflict
between nr�y sztc}� st►pplern��ital escrow; instructio��s and the provisions of this Agr'eementa the
p�:c�visians c�f thi�Agreemez�t si1a11 control.
6: ��ose�f Escrow. �9eliveries
REAI.�STATG i'URCIIAS�ANI7 SALE AGRET MENT 1'Zge 2
CITI'Ql^P��I3DlNGtTC�HNISOTL 1NDUSTRIt�L tNC.
6,1. Tlle �urcMase and sale of the Pra}�erty will be accc�mplisheci through tlle
Escrow.Se11er shall cotivey title ta the Property to B�ryer by Quitclarm Deed in the fot•m attached het�eto
as Exhihit:`B" {tl�►e "QL2itcl�im Deed"}. "C�o�e af Escrow'' a��"Closing" is defined to be the date tl�e
Q�iitclaiin I7eed, is recorded ir1 tk�e �ffic�al Records of Shasta Caunty; Califc�rnia (t[Ze "Official
Records"}.The Quitclaun Deed sl�all be recorded and tl�e Escrow shall close thirty(30)days following
the expiration oft�le Due Diligence Peri�d(as defined belaw}(the"Clasing Date"};p�ovidecl,however,
that Buyer shall have the ribht to elect atl earlier�Clasing I�ate if the conditic�ns tc�the Close af Esc7°ow
and Buyei:'s a��cl �eller's obligations set forth i�� �ectian� 12 and 13 below, or elsewhere l�erein, are
satisfied or waivecl by sucl� earlier Closing D�te;
6.2, Sellet� shall dept�sit the following ite�ns witl� the Escraw Agent at least twa
l�tisi��ess (2) days }�rioi to tlle Close of Escrow, �nd shall cat�se sucl� ite�ns to be recorded and/or
delivered to Buy�r at t11e Close of Escrow:
G.2.1. The Quitclainm I�eed, dl�ly executed ai�cl acknowledg�ed by tl�e Mayor
of tl�e City of Recidiy�g on bel}alf af tl�e Seller, approvec3 as to for�7� by tlae City Attorney, and Attested
to by tl�e City Clerk, conveyi��g fee title ta t}ze Property to BLzyer, subject only to tlle Appresved
Exceptiot�ts (as c�ef�rled belou�}; and
6.2.�. Stach other cet-�ificates, assurances, consents and docLa�nents �s are
ltsual al�cl ct�storn��ry ii� SUasta Co��tity, Ca�ifornia andlor as may reasonably be required by the Bt�yeii,
Escrow Agent, c�r Tiile Co�npany in connection with the consummation �f tlje trans�ctior�s
contemplatecl Ire��e�y, includit�g, bttt not limited to, �ny affidauits or atllet ilsstr�.�ments ��equired by the
Tit1e �orr►pany to e�iable it to issue tl�e Title Policy (as defined below) ta Buyer (pravided, howevez•,
tl�at Seller sha11 n�t be obligated ta provicle the Escrow Aget�t �r Tit1e Company with at�y indemnity
agreen�►ent, or any awner's �f�d�vit, infot•�nation staternent, or otl�er representatian oi' warranty, iti
c�rcler ta indtice tl�e Title CoYnpa��y t� issLie tlle Title Policy to Buyer here�.tncier).
6.3-. Blzyer sl�►ali cleposit the fo�lawin; items vvitl� the Escrow Agent �t least twa
busin�ss(2)cMays prior to tl�e Close of Escrow,and�h�Il,except fc�r tl-�e funds provi�ed far i��sub�ectian
6.3.3, cause sach items to be delivered ta Seller at the Close of Eserow:
6.3.1 Tl�e l3alance of the Purclzase Pcic� in imtnedi�tely available funds,
G.3.2- Imin�ciiately available funds in al�amoLint sufficient to pay the fees ai�d
casts p�yable ksy l3ti�yer under this Agreetnent; ar�d
6.3.3 Suc1i other anci further certificates,assurances,consents and docLtments
as are�istial and c�.�stornary in Sl�ast� County, California and Inay reasonal�ly be requirec� l�y Seller,the
�,scraw Agent,or Title Corn�any in connection with the�onsuml�ation ofthe transactio��contemplated
herehy.
6.� Irnmediately fallowing the recording of the Quitclaim Deed,tl�e Escrow Agent
shall (�) disbl.irse tl�e PLtt:cllase Price; Iess all cl�arges to Seller's accol�nt pcavided fot• l�erein, tc�
Selle�•;(b)�listribute a�ly at�d a11 canveyances,assigtvnents and all other instruinents and doc�rtneYits
as may l�e reasonably necess�ry in order to colnplete the tl•ansacfian }�erein pravided and to car��y
c��at tlre intent ancl p�irpases of tllis Agreement.
REAL LSTATC Pt1FtCHASEAND:SALEAGREEMENT �'���3
G[TY OP REDD(NG!"CGCI IN1S�iL INDUSTRIr\L:1NC_
7. Title,
7.1 Sellet•shall convey title to the Propez-ty ta BLtyer by t(1e Quitclai�n Leed,subject
t4 aII covenants; conditians, l�estri�tio��s, t`eservatiotn, encuinbrances, a��d other matters
affect�ng title to tlze Pro��erty,tl�e i�nprovemet�ts thei�eon,any interest therein,or any pgi-tian
the�•eaf, wllethei-or not of��ecc�rd. L'uyer sl�all al�tait�► the Title Policy desci~ibed in Section
8.7 below for the p�arposes of insuring tl�e Buyer's title to tl�e Property.
8. F�reliminarv Ti�le Ite�ort;Title'Insurance.
8.1. Title Report. Sellef� shall be i•es�4nsible, at its own expense, foi• c�btaining a
prelimina�-y re�ai-t issued by tl�e Tit(e Coinpany cavering t11e 1'ropertiy and best avai�able copies c�f any
and �Il i«strL�tner�ts referred ta tl�erein as cor7stituting exceptir�tls, conditions or r•estrictiot7s upoa� title
to tlle Pro��erty ar�d best available col�ies of any and all instrLlments referre�t to t}�erein as col�stituting
exceptiol�s, cor�►ditioi�s o�� restr'rct�ons �.�pon title to tl�e Prc,perty ("Title Repor�t"). Witl�in ten (10)
btisiness ciays following the �ffective Date, Se11er shall order a Title Report and ea�sut•e it is tle]ivered
ta Buyer �lnmecii�tely after it is issti►ed by tt�e Title Company.
8,2.Survev. Within ten {10) business days after the Effective I�ate, Se]ler
sl�all provicie BLlyer with a copy of the existing suc�vey af the Property curreiltly in tl�e
possessioel af Se�1er, if alzy {"Existing Survey"). If Buyer so elects, B�:iyer lnay orcler an
updat� of the Existing ��irvey ("Upd�ted Sut•�ey"j at Btiyer's sc�le ct�st.
�.3.Title C}bjectio»s. No latet thail ten (10) b�.�siness days prrc�r ta the
expiration of the Dt�e Lailigence Pei•iod, Buyer si1a11 prc�vide written �lotice to Sellei•
disapproving nny title���atters set fc�rth in the Title Re�or•t ancl tl�e Existing Stti:vey (or t��e
Upd�ted Stiirvey if c�l�tained by Buyer prior ta tlae Due Diliger�ce Periocl) (`B��yer's Title
Noticc:"); If Buyer f�ils to provide written �iotice, Buyer s}�all be deemecl to I�aue accepted
a►Zc�appraved the i-nattet:s set fortl7 in the Title Repart and the Existing Survey or Updated
Silrvey. Seller sha1� 1-►ave f�ve (5) b�.asiness c�ays ("Seller's Respanse Peric�d"} af'ter receipt
of Buyer's Title l�Totice ta notify B�.iyet:af Se1ler's intent to caase any iterns disapproved by
Btiyer to be reznoved or cured by the Clcrse of Escrow.If�eller fails�o notify Biiyer within
Seller°s Respt�nse Perio�i that Seller cloes not inter�d ta cause t�1e disapproved items to be
��emoved or curecl, tl�en Sell�r shall be deemeci to have not agreed ta re�rtove or cut•e such
disap�roved iterns. If, within �eller's Respanse Feriod; 'Se11er noti�es Buyer that Sellet
does not intenc�ta cause the disapproved iterns to be so reznoved ar cuted {or is deetned to
l7ave agreed �1ot to remove or cure fihe saine), tl�ei� Buyer s�3a11, by the later of five (S)'
bLasiness d�ys�fteg~the expiratior�t of 5eller's Respanse Periad �st-the expiratiori of tlze DL�e
Di ligence Periac�,whicl7ever is earliet•,either waive Buyer-'s objections ta tl�ase title matters
tl3�t Seller l�as not agreed to reinave or cui°e, or ter�ninate t17is Agreelnent tipon ��rittel�
notic� ta Seller�t1d Escr•aw Agetlt. If t(iis tertninatian is effective prior to the expiration af
tlie sixty (Ga} day Due I)iligence Periad, Bttyer shalI i�nt�eciiately receive a fi►11 refi�n�i of
tlie Deposit; neitl�er Party sliall ��ave furtl�er liability or abligation 1�ei•eimcier, except as
otllercvise expressly provided her�eunder.
8.4.A�praved Exce t� i�t�s. A��y title matters appraved by B�.7yer (�rr fi�r
whlcl� Bc�yer has waiveci an objection) �ursuant tt� Secfiion �.3 ahove, all �natters caused,
REAL�STATE PURCIIASP ANI7 SAL�AGRI;�MGI*IT P�ge 4
CITY(7F RGDI3ING/'CLC'(ITdISOIL IND[7STRIAL 1hIG:
ceeated, approveci c�r expressly permitted by Buye1 in wrrting, �nd all non-delinquent
genet•al and spe�ial real propert� t�xes antl assessinents far the cLlrret�t fiscal year are
referred ta herein as the``Appt:aved Exceptions."Notwithst�ndi�tg tlie preceding sentence,
Sectian 8.3 �bave; or nny other provision of this Agreement to the cant►-ary, in na event
sha11 Approved Exceptions include, nar sha11 B�iye� be req��ired ta provide any objecti�n
to, an� oftl�e following (coilectively, "Monetary Liens"): {a) any mortgag�, deed oftrclst9
or oth�r instru�nent secljr-ing any financial obligation ofany Party otherthan Btiiyer,(b)any
tax liens,;abstracts of juclgments, mechanics'1i�ns c�r similar 11ens or eticumbrances which
req�iire any morletary payment to remove or i:elease, {c}the lien of any delinquent taxes ar
asses�met�ts,al�d(d)�ny notices c�f default,foreclosure no�ices,or sirnilar notices reflecting
�ny actior�being taken to assert or fc��eclost��:e upc�n,any lien or enct�mbr�nce:
$.5.Seller's(7bligatic�n to Rertnove: Sel�er,at its so�e cosfi at�d expense�shall
Ue �bligated to reinove ancl release; on or before the Clase ofEscrow (and withot�t any
independent right to exteri�l the Clasing Date), (a) �ny rnatter where, puesuant to Section
8.3 above, Sellet: l�as agreed, ol• is deeme�l to h�ve agreecl, tti remove,,{b) any Monetary
Lretis, ax�cl (c} any ac�ditian�� title encumbr�nc�s or ex�eptians (wl�etl�er or nQt such
constitt�te a Monetary Lietl} wllicl� becon�e known, �rise, or are created fc�[lowii�g tt�e
expiration of the I3ue �iliger�ce Period, othet•than tl�ose placed on tlze Froperty by�iuye�
or otherwise acceptec� by Bctyer in writin�notifyir7g Sell�r that need t�ot remove or rele�se
the'ti�atter.
8.b.Title U��date or Su�plement. In the event any update of the Title Report
or the Existing St�rvey {or�Updated Survey), if any shows any new matters or conditions
affecting title to the Property not set forth on the origznat Title Report or Exi�ting Sl►rvey
(each, a "New Title Matter"), tl�en, no latet` that� tl�e later three {3) business days a�ter
BL�yer's recei�at of such updated Tit1e Report, Buyer s1��11 h�ve tihe right to object to any
sucl� rn�tter; ii� �vhich evei�t ti�e same prt�cedl�i�es for response, terminatroz� and waiver set
fortll �bove in Sectian 8:3 antl Se(lei•'s t�bligatians with respect to Monetary Liens shatl
apply to each New Title Matte��:
8:7,Title InsL�r�nce. Seller s}�all c�trse Title Compar�y tc�commit to issue tc�
B��yer at tl�e Close afEscraw a1z ALTA sta►�dard coverage owne��'s palicy of`title instarance
(2006) insurii�g �'ee title to the Froperty vested in �3uyer, si�bject onty ta the App�-oved
Exce�tions,witl�caverage in an amotint ec�aal to the F�.�rcllase Price ancl sucl�endorsernents
rec�L�estecl by Bi�yer(col[ectively,tlYe"Tit1e Pc�licy»�.
9'< Scller's 1't�ot�erty Documen�s: Within ten {10} days following the Effective Date,
Seller sl�all deliver tl7e following to Buyer: (a}a Natura] Hazard Discic�sure Report witli respect tc�tl�e
Pt'ape�•ty; (b) a Title Repol-t if any; and (c}tcue,c�rrect and co�nplete copies of any permits,approvals
and othel� items relatil�g to gover��rnet�tal entitle�nents; a�1y engi�7eering, geologie�l, arct�eolo;ica[,
biolagical si,uc�ies, sorls, or other studies,tests,t�r repoi�ts; any e�lvirQninental and hazardous in�teri�l
reports and r�otic�s; copies of all Ie�ses ancl contracts, if any, �iffecting tlYe Property ai�d any
ar�nend►nents ot- sic�e letters ti�tereto, tax arzd assessment stateinents; public notices pe�-tainir�g to t��e
Aropertys all "Phase I", "Ph�se II37 ancl otl�er studies, assessments, or reports relating ta the
environ�nental candrtic�7�of tl�e Prc�per-ty,ai�c�all architectural,engineering,gi•ading ai�d otl�er p(ans and
si��7ilar data r�lating tb tl�e Prape��ty; any daculnents regarding any fil�d or threatened litigatian
affecting ar relatir�g ta t11e Property; a�-�ti any otl��ei:�naterial dat�and inforination abc�ut tlxe Propei�ty in
Selle�•'s passession or aie reasan�.61y available ta Seller(collectively;``�ellet•'s Property Dc�cuineiats").
RCAL CSTATG PURCi�ASG AND SALEAGR��M�NT P�ge�
C1TY OI^RCDDING/T�C'HNTSOIL INDUSTRIAL INC:
In tl�e event Sellec�repares or acc�uires ariy af t}�e foregoing or sitnilar iteims after tlle Effective Date,
Sel]er sl�a[1 proi��tly c3eliv�r cc�pies tl�eret�f tc� B�ayer:
10: Erttr�,Inspeetion and A�roval I�ti�hts; Due Dili�enc�Perit�d.
10.I. For ptirrpc�ses of this Agree�nent,the tel-rn "D�re Diligel�ce Peric�cl" means t}7e
period beginni��g a��tihe Effective Date atld ending at 5:00 p.in., local time, oix tl�e �ixtieth (bOth) day
fallowing the EFfective Date. Prior to tlze ex�irati�n t�f the Due L�iligence Periody Buyer and B�tyer's
ernployee�,agents,consultaiits, independent cantractors and lenders sl�ail have the nQn-exclt�sive right
to er�ter upa�1 tlae l'roperty tc�co»duct all ii�spections a�1d investigations af tl�e Property as Buyer tteen�s
�7ecessary or ac�visable ir� its sale cliscretian. Any such inspectiail ar i��vestigation may only be
c���ductec��Fter p1°oviding reaso�aable natice tc�Seller. Sucl� inspections;at�td investigatic�ns inay inclt�de,
btit sllall ►1ot be (iinited to, Pl�ase l, I'I�ase 2 �nd oti�er er-�vi�Qnmental site assesstner�ts. All ct�sts
associated with st�c11 irzspections and investigations s1�all be bc�Ytle by Bt�yer:
10.2. Buye�•'s obtigatiot� tQ pttrchase tlie Property is expressly conditi+�ned �ipoil
Bl�yer's approval, ir� its sole discretion,af any and aIl m�tters disclose�l by Se1ler's Ptoperty Documents
and/or a�1y il�s�ectiorls and il�vestig�tians af or relating to tl�e Propel-ty Bi�yer elects to utldert�ke. In
the everlt I3�.zyer disappraves of any such items,Buyer shall deiiver writt�n natice thereof to Seller and
il�e Esc�~ow Aber�t on or before the expiratic�n af the I3�te Diligei�ce Periacl, IF Buyer fails ta deliver a
written notiee af�lisapproval to Selle�•al�cl the Escraw Agent urithin s�ach tiine peri�d, I3�:tyer sl�all be
deemec( ta have appravecl of a(1 0�t1�e Sell�r's Pi°ope��ty Dacu��lents cIetive��ecl to Buyer and �ityer's
inspectioi�s and inv�stigatioris of tl�e Praperty; a�1c� this ti•ansactio�� sltall praceed. Na appraval ar
deemeci approval of Seller's Property Doct�meilts and Buyer's inspections and investigations af the
I�t:�perty sl�all i•elieve Seller fram any liability or obligatiot7s for`brea�l�or tlefault af any representatian,
warranty; covenant or agreen�etit of S�llet:Ilerei�z. If Buye��delivers a writtel� notice of disapproval to
Se11er priat; to tl�e expiratioli �f the sixty (b0) day Due T}iligence T'eriod, tller� tlzis Agreen�e��t sha[l
terminate; the Deposit sllall be retti�rned ta Buyer, and taeitlier pa��ty sl�all l�ave any furthet liability or
ol�ligation�rncler this Agreelnent except as othet-wise pt�ovided l�erein.
10.3. Buyer s1�111 provide to Sellet; at no cha�•ge, cc�p�es of any site speci�c
explc�ratory repc�rts including sails ancl environmental assessments; if any, t�f the Pi°c��e��ty or the
i�npravernents th�reon witl�ir� five (5) days following any terinin�tion crf this Agreement. Blzyer is
r.inder ncr obligatian to provide t•eports 11�td analysis tl�at is specific to future buildi�lg(s) and or is
proprietary it� t�ature to t1�e desigiz and aperations ofthe fi,�ttire 1auildings and business:
10.4: �uye� s11a11, at Buyer's sole cast and expe�ise, pr:omptly r•epair �.»� and al1
d�rnage to the F'r�perty or any iinprovements t1�er:eon X•esulting fratn any tests, studies, inspections and
invesiigatiotis perfor�ned by or ot� behalf af Buyer �ursuant to tlzis Section lt}. Buyei• shall also
i��cle�nni�'y; defencl, protiect �nd hold 5eller, and its eleeted officials, �gents, employ�es, indepertclent
contractors; trustc�t�s, trustees, be�t��ciai•jes, successors ai7d assigns, a�3d the Property and
improvement�tl�ereorr,harrnless frot�n and agaillst any an�i all claims;demands,damages,liabi�ity,lt�ss,
cast c�r expense (includillg attotueys' fees, ca�.irt co�t� atld otl�er reasoi7a�le costs of defense) arising
o�it of oc relating to any il�spectians or investigations of the Property or t11e improvernents thereor�
l�er•eui�der; �i�y act, olnission, or i�regligence of Buyer or any of its agents5 emplayees, co1lsG�ltants, crr
indepetident cantractors in coilnectian tl�erewitl�, ai�d/or any breacl� of Buyer's c�bligatians under t(tis
Section I0. �uy�r's indemilit}� and c�efe�Ise abligations I�ereunder shall ��ply even if Bl�yer itself is
i7ot negligent. W�tl�ot�t limiting t}�e ge��erality af the for:egoir�g, Buyer sllalt pay or otherwise remove
any mecltanic's;�rraterialman's or otl7er]ien recarded against the Pro�er~ty atldlor any impro�etnents by
REAL GSTATG PUF2CCTA5E ANI7 SALE AGRI�rM�NT Page 6
CITY 4F REI7I31NG1 T�CI IIVISOIL 1NDUSTI�IAL ING.
any �'at�ty providin� labor, matie�ials or ser-vices at the rec�liest of Buyer, or any agent, consultant, ar
i�ldepende�zt contractot•of Buyer. Tlle Bt�yer'� obligations�.�ndei this Sttbsecti�n 10.4 sha�Il survive the
Close of Escrow ancl �ny expiration; cancellatioz� �r earlier terminaticrn of this Agreement, hc�wever
cat�sed.
11. Seiler's R��re�entatians �nd Wa�-ranties. Seller lreeeby 1•epresents and warrants to
Buye�•th�t the faClowi��g are true anc�cor�•ect as of tlte date hereof and,excepti as otherwise required or
permittecl elsewhere he��ein, sliall be tri�e and cflrrect as of the �tose �f Escrow:
11 1. Seller l�as the legal pawer;right ancl �uthority to ente�` i��to tl�is Agree�nent and
the ir�str�li�rents �•e�"ere��cec� l�etein, ai�rd ta consurnz�nate tlze tra�ls�ctions canternplated hereby, ai�d all
re�uisite action�lxrunicipal a�otherwise} llas l�een talcen by Seller in co��nection witll the eiltering into
of this A�;reerne��t, tl�e il�tst�•uine��tis cefere��ced 1lerein, and the +cc�ns�,zmmatioil af tl�e transactio��s
contetnplated 17erel���. Seller's execution a�7d c�elivery af ti�is Agreetiaent, atld tl�e perfor�nanc� of its
obligatio��s liereul�det:, will �Z�t (a} conflict witl� or violate atly stafiute, law, intillicipal cnde, rul�,
regul�tiai�; ar perlicy applicab{e to Seller or tl�e Pic�perty; or (b} violatie or res�ait in the bc�each c�r tl7e
termil3atio�7 c�f, or othe�•wise give ariy coiitracting par-ry tt�e t•i�I1t to terrr►inate or declare a defa��lt��nder
tl�e terins of, a��y wcitten agreei�7ent re[ating to tl�e Property ta wl�ich Selle�is a party or by which t1�e
Pl�aper�ty �nay be boul�d. This Agreeinent ancl all documents r:equired l�ereby to be exectited by Seller
a�`e and sl�all be valid, legally bindirlg obligations ofar�d enforceab(e against Seller in accardance witl�
tl7e"tr 1er�ns, �ubject oi11y to applical�Ie bankruptcy, insalve�lcy, i•ec�rga�lizatiai�, lnaratot•iur'n or sirnilar
laws ar ec�uitable principles affecting ar lil�niting the rights af contracting parties generaIly.
11.2. Ta il�e best of Seller's l�.r�awledge and belief tirere are no recorcled or
ti�nl:ecorcled coaltracts or agree�nents relating to the ownez:slzi�,accupancy,use,apeiation,tnai��tenance
or perforillance oi'services at1 ar with�•espect to tlle Proper�y, except as discla�ed in tlle Title IZeport,
11.3, To tl�e best of Sellei•'s kn�wledge and belief tl�ere are no ut�reeordec� (eases,
options to purcl�ase, rigl�ts of iirst refi�sal,or ather contracts gr�t�ti�lg tl�e right to purcl�ase or lease tl�e
PrQperty iil any way tlaat will l�e bindi»g o��Property at Clasing.
11;4. To the b�st of Seller's ki�owledge and belief the�•e �re no Mailetary Liens,
�gai�lst, re[ating tr�, ai�otherwise af�'ecting all ar at�ty portian of ti7e Property ar any interest therein.
1 I.S, Se11er's Propet-�y I?ocuments are and sllall be tt°ue, correct, and co��nplete in all
rn�terial respects, and�re a11 tl�e r�naterial doeuments al�ct information iti Seller's possession Qr control
relating to tl�e Pi•�perty:
l l.b. To tl�e best af Sellei•'s kiiawled�e and belief: (a} tl�ere llas been r�o stor�ge,
tre�tment,��se, dispasal or release 4n c�i:idrlder tlle Property af any Hazardaus St,tbst�nces l�y Seller or
any tei�rat�t or previous owner or tenarlt of tl�e Property� {1�)there are 110 Hazardaus Substances present
in tl�e soil and/at~�;rouildwater on or ti�ndertlle Proper-ty;(c}there are i�o per�dit�g oc threatened lawsuits�
gavet•nine7ztal i�lr�estigations or other proceedings relating in a�iy way to the presence, storage,
treat�nent, d�sposal or 1~elease af any Hazat•dous Substances on�r under tlle Propet�ty or any adjoin'rng
real p�opei�ty;��1d(d}tlaere I�aVe beeil l�o cotnmunicatiolls or agreelnents with any federal,:state or lc�c�l
gavernmental ag�,ncy or any pri�ate person or entity(inclt�ding,withotat limitation,any piior ow��er c�f
the I'roperty or�l�y adjaining real praperty and any present c�r foi•mel:occupant af'the F'roperty t�r ai�y
adjoiixing real property) relating �n any way to the presence, storage, treatment, disposal ot•release of
RGAL LSTATG PURCHASE AND SALG AGR�GMENT Page 1
CITY OP`R�DDING/`I'��CIIt+I1SOIL[NDUSTRIAL INC:
any Hazardous Substances olz ar u��der tl�e PI•aperty or any adjaining i•eal prope�fiy. For �G�rpases of
t17is Agreeme�It.
(i} tl�e terrn "I-�azardol�s Materials" �neans any m�terial; sul�sta��ce or waste designated as hazarclous,
toxic, radioaetive, inj�crious ar potel7tially i�ijut�ious ta I�urnan hea(tl� ar the envirnnme�7t, or as a
po�lutant c�r conta�nina�lt,ar words ofsitnilar import,r.�nder aray Envirotlmental Law, including,b�tt not
limrted to, pet�°ol�t,�m and petroleum praducts, salvents; asbestos, tn�1d, polychlarinated biphenyls,
urea forrr�aldehyde, radon gas, racliaactive matter, medical rvaste, and ehemicals which may ca�.�se
cat7ce�� ar reproductive toxicity, a�zd (ii} the ter�n "Enviranmer�tal L�ws" ineans any fecle�•al, state ar
local Caw; statL�te, reg��latic�n or acdinance r�ow t�r hereafter in fot•ce, as an�ended from time tcr time;
pez�taining to �naterials, stiabstances oi� wastes u�llich are injuriaus or potentlally injuriat�s to l�uman
l�ealtl� or tlje e»vironanei�t or tl�e rele�se, disposal or trar�sportation e�f w1�ic11 is c�therwise regulated by
any agency or tl-►e federaI,state or a��y local gavernrnent wit11 jliristliction aver the Property ar any sLtc17
In�terial,subst�r3ce or waste rernc�ved tlYerefrc�m,c�r in any w��pertaining to pollutir��a ar contarnination
af the a�r, sail, sLmface vvater o1• gl�otlndwater, illel��dii�g, bl�t not limited t�, the CQinpeehensive
�nvironiner�tal I��sponse, Ct�mpe��sation arid Liabiiity Act af 1980, as amended (42 U:S.C. �ectir�tl
9ba1 et seq.),tI�e Itesotirce Conservatic�rl and RecoveryAct(42 U.s.C;Section 6901 et seq.},the Clean
Water Act (33 U,�.C. Section 1251 et seq.)> ihe Safe Dritlking Water Act (42 U.S.C. Section 300f et
sec�.), tl�e Haza�•clous Materials Tr�t�spc�rtation Safety and Security Realithorization Act (49 U.S.C.
Sectior� 5101 et sec�.),the Clea��Air Act(42 U.S.C;Sections'74(l l et seq.},the Toxic Substance Cc�ntrral
Act(l 5 L7.S.C. Sectian 2601 et sec�.},the Federal Insectici�Ie,F�:�ngicrde,antl Rodenticide Act(7 U.S.C,
Sections 13f� et seq.), tl�te Atolnic Energy Act af 1954 (�2 U.S,C. Seclio��s 2t}11 et sec�.}, the Nt�cleal:
Waste P�Iicy Act af 1982 (4� U.S.C. 5ectic�ns l(}1{?1 et seq.),the Hazardous Substan�e AccaunC Act
(C�lifori-�ia Health �l�cl Safety Cade Sectian 2S'300, et seq.), the �Iazardous Waste C�ntrol Law
(Califar��i� He�lt�z and Safety Code �ectio�i 2S l 00, et seq.), the Mec�ical Waste Manageinent Act
(C�lifornia Health and Safety �ode Sectit�n 117600, et seq.), the Safe Drinking Water al�t3 Toxic
Enforcernent Act a�f 1986(California Health and Safety Cc�de Section 25249.5,et seq.),and the Portei--
Calogne Water Q�xa�ity Contr�ol Act{Ca�ifornia Wat�c�Cod� Sectioi� 13000, et seq.):
11.'7. To t11e best of Seller's knowledge ancl belief Seller arld the Prc�perty at�e i17 fi�ll
and cot�n��l�te colnplial�ce with a11 federal, state �n�l local laws, c�rtliiiances, rEiles and, regulatiions
appitcable to tFte Property, incli�ding, without lirnitatic�n, the Califot�t�ria Sul�divisio�l Map Aet (Cat,
Gavt. Cade ��G���10,et sey.} a��d all El�vir•oninental Lavvs.
T 1.8: There are na l�nown actions, suits,praceedi�Ygs or investigations pen�iin�or,to
tl�e best of Seller's knowledge �ncl belief, tl�reatened against or affectii�g the Property in al�y court or
before ar by any�;overn�nental dep�t-tn�ent, boai•d, agellcy, or instrt�lnentality;or�t3y arbitratar.
11.9. Th�re are 1to known prolzibitions of or impediments ta the ��•ansf�r or
assigi�inent of tl�e Propei�ty, or any portioi7 thereaf;and the Property is atherwise f�►�ly transferable and
assi���able.
11.10: Seller llas camplie�i,o��sl�atl cornply priar to tl�e Closing,witl�t al1 statutes, l�ws,
arciinat�ces, r��[es;ar�d regulations��3plicable ta Seller�ndlor the sale ofthe F'ropei�ty by Seller to Buyer
het�e�,�r3dei`; aa�cl has satisfied, or shall satisfy prior ta the Closing, all cr�nditiol�s precedent tc� such sate
of tlYe Pr•aperty req��ired by law,
ll.11, To tl�e best of Sellet�'s I�nowledge and belief there are no btiildings and
impr�ven�ents located on the I'roperty, tlle I'ropei-ty c�n be overgrc�wn by veget�tion ancl dry in the
sumnler n�oi�ths,
�At�rSTATG PURCEIASE ANDSALG AGREGMENT Page 8
Ci'CY OF REDDTNG!"I'ECHN1St7IL INDUSTRi1�L iNC:
11.12. The Seller IZereby discloses to tlie buyet•that,to the best of Seller's knowledge
and belief, the o»ly access to the Property i� by a gated dirt raad to tl�e West aftfle Prapei-�y.
To the f�rl�est extellt allowecl by law, Seller agrees to inde��nify,defe��d,protiect and hold Buyer
and its respecti�ve offieers, directors, slZareholders, �nembers, tnanagers, agents, einployees;
indepetident contt•�ctars {including prilne contra�tors �tld subct�ntrlcfor•s an any constrl�ctio» pt•ojecf
r:�lating to tl�e Proper-ty), st�ecessoz�s znd assigns hatmless from ar�d agair�st any at�d all claiins,
deinands, c�amages, liability, �nes, pei�alties, lt�ss, ct�st or expense (inc�utling attorneys' fees; court
costs aild other cc�sts Qf cl�Eense) �rising c�ut of or relating to any inacc�;tracy �n,ar 6reach or defa�ilt by
Selle�°of,a��y of�elfet�'s representations or warranties c�ntained in this Sectit�tzs Il, above.
Seller hereby acknowledges �nd agrees tl�at the foregoing representations �Yac3 warranties are
n�aterial and I�eil�i� relied upon by Buyer il1 collnection with t11e executior� of this Agree�nent, anci the
ac�uisitioti af tf�e P�operty.
All rept•eser�tations, warrat�ties and cov�nants af Seller contained in this Sectic�n 11 "sl�►all
scatvive tl�e Close of Eserc�wand tl�e recoidi��g of the Quitclai�n Deed in the Official Records.
12. r�dclitional Covenants of Sellei• Pendin� #he Closin�. Beginnit�g on the Effective
I)ate at�d �mtil the earliec Qf t11e Close c��`Escrow or•t11e termination afthis Agreen�ent, 5eller sh�ll:
12.1: Maintain the Pro�e��. Maintain {ar cause to be maintained) tl�e Pr�perCy 'rn the sa�ne
cond�tion existing as of tlte Effective Date except far the coilstrti�ction t�r instal(atioil af
aciclitianal str►,Ictural iinproveinents tiecessary for the Pt-operty.
12.2. Paytner�t o�Obli�atic�ns;and T�xes. Pay, as ancl wl�en tl�e sarne are dtire, aI1 p�yme�lts on
ai�y enci�tnbrances, or assess�iie��ts preser�tly affecting the Property (excludi��g (iei�s or'
e«culnbrances caused by �uye��) and any and atl ta�es, assessinents at�e� levies i�� respect
af t37e Pr-operty tht:ough tlze Closing I)ate.
12,3`. Colni�lv witl� L�w�. Colnply it� all �Z�aterial respects witla all laws, stat��tes; rales,
r•egulatiot�s, ardir�ances that are applic�ble t� the F'ropertiy, iticl�:�ding; l�ut not limited to,
Envit�c�ninental L�ws.
12.4. No Encu�nbrances. U»less rec��iired by a Ciaverntnent�l Autharity as a condition to tl�e
etititl��nents, Se[ler shall not gr�nt or convey or enter it7to any easement, Iease, license,
perl�lit,agreement ar 1ny other legal or benefici�l interest in or to the Property,withattt the
��rioty written consent of Bu�er, �vhi�h consent si�all nc+t be �.�nreasonably witl�held,
co�7ditionec�ar delayed. U»less i•eq�tired by a Governme��tal Autl�ority as a conditian to tl�e
entitle�nents, Seller sh�11 nQt undertake any actians w1�ic1�impait•any and all rights of way;
easemer�ts, grants, ap�urtenances, eitcuinbrances, liens, covenants, contiitions; or
privlleges and licenses in favor c�r corxsistii�g any portion of t11e Prope�-ty.
12.5. Notify BiiYer of Gertatn Matters. At all ti�nes prior to t11e Clase of Escrow; Seller sh�(1
proin�tly advise Bllyer in writing of�ny rn�terial �dverse change in the condition af the
Prapet-ty, the occurrence of ai�y eventi or discavery of any fact which wot�ld r•endei• any
repl•ese��tation oi•warranty of 5eller to Buyei in this Agreernent tti�true or misleading, anci
any written notice or atlzer colnrnL�nicatian froln atxy tltird person or entity atleging that the
co77se�t of such tl�ird persorl or entity rnay be reqtiii�ed in connectio��t witl� the tcansactiot�
�onte���plateci by tl�is A�;ree�nent.
�2.6. Marketin�. Se1[er shall nat market the Property f�r sale,nnr enter into�ny agreerner�ts, or
accept any offers wit11 respect ta the sale of tlae P�ape�°ty.
REAL�STATE PtJRCI-It4S�AND Sf1LL ACTREGMENT Page 9
CITY OP RGDI�ING/TECIINISOILINDi15TRIr�L INC,
13. ��nditions to Buver's C?bli�,ations. Tl�e following are canditic�ns to the Close of
Escrt�w(``�lasir�� Con�litians") and the obligatiola ofBuyer t�purch�se tile Property:
l.'�.1. Buyer shall t�ot have delivered a B��yer's Titl�Notice ta 5e11e1�and the Escrow
Ageitt pt��suant tt} and within tl�e tit�ne li�-nits pravidec! for in Sul�sectionn 8.3, a�c�ve; B�.�yer s�an1l ndt
haWe deliverecl � w�°ittet� notice of clisappraval ta Seller and �he Escraw�.ge��t p�.arsi�ant to and vt��thin
the time 1i�nits provided far in Subsection 10.2.
13.2. Tl�e Title Cc�inpai�y shall have issued or committecl to issue to Buyer tl�e Title
Policy,totl�e Bc�yer as oftl�e Close ofEscraw in,a Inantl�r and si�bstance as defined in Subsectiotx$.7,
above;
13.J: There shall have been no Ir�aterial advet�se char�ge in tl�e c�ndition of or title to
tl�e Propei�ty pri�r to tl�e Close of Escrc�w,a�icl
13.4. C7i� or befo�-e tl�� Clasit�g; Seller sh�ll h�ve perfa�•tned a11 of its obligatiorls
under this �lgreelnent required ta be pet•fa�•med on or befc�t:e the C1ose �f Escrow, ar�d, except as
otllerwise pr�vided he�:ein,tlle Seller's r.ep�:esentations axzd warranties hereunder sllall be true at�;nd as
afthe C1ose of Escraw as if made as of s�icli time.
The fare�aing cotlditiat�s are created for t11e bei�e�t of tlYe BE�yer only. Such cond►tions ma�l be
w�ivec� uy the Bi.iyer il�writing to Seller 1nd tE�e Escraw Agent:
14. ��nditi�rns to Seller's Obli at� ians, Tl�te fc�llowing ar��onditions to the Clc�se c�t'
Escrow ancl the ol��igatioi�of Sellet°ta sell the Prc�pert}�:
i4.1 Buyei- sl�all 11ave delivered tl�e I'urchase price; aild all otf�et� funcls, dacun�rents` and
instrtainetlts Bl�yer is rec�uired to deliver pursuant to Slabsectian 6.3,abov�,t�r tl�e EscrawAgent within
tl�e time lii��its prr�vicied for l�erein;
l 4.� �n o��t�efore tl�►e Closing, Buyer shall l�ave perfi�rmed all of its obligations i�nder tlzis
Agi:ee�nent r�c�uired to be perfor•ined o��or before tl�e Close of Escrow anc�the B«yer's repr-esentatiol�s
��Zcl warranties liereur�der sha11 be true at az�d as af the Close af�scrow as if�nade �s af`s�ach time,
T11e foregoing condition is createci for tl�e berlefit of tl�e Se[Ier only. Sracli condition n�ay be
waived by tlle Seller ir�writing to Bti�yer ai3d the Escraw Agent.
15. �"ailure of`Conditions, If any condition specified ir� Sectic�n 13 or l4, above, is not
satisfied or waived�witllin the applicable time limit providecl,tllen Buyer, ifBuyer is not tl�en ii�defaitlt
of any of its t�bligations L�ncler t1-�is Agreernent, c�r: �eller, if Seller is not the�� in de�'ault of any of its
representatioi�s, wa�-rat�ties; covellants or agreements uncier tl�is Agree�nei�►t, may tllereafter tertninate
tl�e Esct�aw ai�d tl�is Agc°eernent by giving written tlatice tt�the Escrow Agent and tl�e othe�Party.Upon
any suclz termin�t.ioti,the Deposit s1�a11 be r:eturned to S�tyer,ancl neit}zer P�rty sha�l I�ave any further
liability ar ol�ligatio�i Ileret�►�cler except as othei�ise provided herein,Notwithst�nding t1-�e fc�re�oing,
if�ny conclitiot� set forth ir► Section 12 ot° 13, a�ove, has failec� as a res��lt of a br�eaclY or defattlt by
Seller or T3�.tyer;the otilrer Pa1�ty slr�ll l�a�ve tl�e rights and t-emedies set fortl� in Sectic�n l8 or 19, below}
as the case ina}�b�;
16. Damage or Destruetion. In the event of any materia� dain�ge to e�r destrtiiction of the
Prflperty or inlproveEnea�ts tllereon priat• ta tl�e Closit�g, I3L�yer sl�all, by written ��otiee to �eller
R�AL GSTATC PURC[-IAS�AN]�SALGAGRL-"L"MENT ['age 10
CITY OP itGDDING/TGCIINISC?iL INDUSTRII�L INC.
del'rvered within tet�{14�days of reeeiving�v��ittert»otice from Se11et�af s�ach event(a"Seiler's�amage
Notice""), elect to either; (a}t��-minate this Agreeineilt and tl�e Escrow;in which event the I?epc�sit sl�all
be returned tc� tl��. Buyer, �t�d neitl�er }�a�-ty shall have any furtlaer liability or obligation L�nder tl�is
Agreemertit, exce��t as otherwise provided l�ereiil, c�r (1�) consul-�xrnate its purc�ase of the Property
p�rsuant to this Agreelnenf, For pl�cposes af t11e foregaing, tiarnage to t�r destruction of the Pr�perty
or improvelnentis thet-eon shall be deemecl to be rnaterial if, biit only if;the cost to repair sircl7 clatnage
flr de�truction is r�asoi�ably est'rmated to exceed the sLlm of AMOUNT�$100,400,0�). If Bciyer€ails to
deliver w�-itten nc�tice to Sellei:withii�such ten (10)day period, Buyer shall be ec�ncl�.�sivel�cleem�d to
�i�ve etected to corasuinrnate its putchase af tile Property. If the damage ta crr destructian ofthe Property
�r iinpravelnents i� i�c�t matetial, ot Buye�: elects c�r is cleeil�ed to l�ave elected t� cc�r�suinrnate iis
purchase c�f the Pt-operty: (i}tl�ere s}�all l�e IZo redttction il�the amou�Zf:of tl�e Purchase Priee as a resulT
of the dan�age to nr destcuctiatz c�f the Property ar imprflvelne�its; ancl (ii) Seller sllall at the Closing
(A) pay ta Buyer a11 insurance proceeds, if any, previot�sly received by S`eller witl� rt•es�ect to sucl�
dalna�e ai: clestruction (less �t�y portiio» thereof expended by Sellel�to repair, mitigate, or�void sc�c11
d�ma�e or d�struction, alld/�r ta sec��re tl��Praperty}, ai�tl {B)assign tc� Bttyer all of Seller`s rigl�ts, if
any;to a11 a�lditioi-tal 'rnsi�rance procee�ls, if any,payable by reason c,f such damage or desttuction. The
Clasi��g i�ate s1�ai� be extended if a�3c1 tc� tl�e extent necessary t� p��c�vicle B�.tyef•with tl�re t'ull ten (1fl}
day perioci to il�ake its electiotl l�ereunder.At7y extension of the Clasit�g Date perrsua��t to tl�te precedin�
sentellce shall be in adclitian ta all otller extensian rights provided for herein. Buyer L►t�dersta�lds ti��t
Seller does nat rnaintain fire ar otl�er in�u�:al�ce covering dam�ge to tlie 'rlr�pravements on tl�e Prc�}�erty.
The parties �gree t17at thrs Section sh�li �pply in the evei�t of any damage ta Qt° destructic�tl of the
I'roperty at� improvernents tl7ereon i1� lie�l of the Uniform Vendoc and Purchaser Risk Act; and het�eby
waive tl�e provisions of Calif�rnia Civi� Cade '1662 with respe�t to any damage to or destr•uetion of
tE�e Froperty or improvements therec�n pr'ror to the Clc�sing.
1'T, Prot�et� Taxes. Current real property taxes nnt yet delinquent relating to the Praperty,
if any, s]Za11 be prorafied betwee�l �eller atrd Buyer• as �f the Closir7g Date on the basrs of a thirty-day
rnanth, and, to tlYe extent t�f inforinatio�l t11en available; sucl� prarations s1�a11 be made at the Closing:
Slach prorations shall be adjl�sted, if �7ecessary, aild completed afte� the Clasi»g as soon as fin11
information becoines avail�ble.
1$. �►osin� ancl t�ther Costs. BL�yet ar�d Seller sl�sall ec�ually pay fifty percet�t (50%0} of
the fallawi��g costs i�lcurred i�7 canr�ection with this transactiot�: (a}the cast of recarding th�Quitclaim
I�eed; ar�d (b} t17� daeL�mentary tra[Zsfer tax, if any, ilnposed iti connection with tlze recar•ding af the
Quitclailn Deed:Sellei-sha11 pay foi•custa�n�ry ALTA stanclard coverage titie costs�nd tl�e eost aftl�e
Canlmercial N�ti�.�r�l Hazard Disclaslare Report provided for ill Sectioi7 8(a), abave. l3uyer s1�a11 pay
for any additional title casts incl�.�ding,without limitation,casts far any ALTA�xtendecl�overage,any
su�vey t�eqt�irecl by the title compa��y and/or ciesit:ed by Bt�yer and atly endarsements:�3uyer and Se11er
sh�11 equally sl7are tlle cast of es�raw anci all atl�er closing expenses in the norma] and custalnary
fasliiara for trai�s7ctions ii� Sl�asta County;C�lifc�rnia.
19. AS IS SALE�l�elease
19.1 BLiyet acknowledges ancl ageees tl�at,prior to the C1ose of Esc�ow, Buyer sllall have had
a fiill and�oinplete oppoi-tunity to inspect and investigate eacll and every aspect oftl�e Pr��erty
�►nd the improvements tllereon, either ind�pendently c�r tlaroubh agents of Bi.ryer'� choc�sing.
Buyer fur�her acki�owledges at�� agrees tha1:,exeept as expressly set forth ir�Section l l,abc�ve;
RGAL LSTATG PURCI-IASG ANI)SALC AGRLCIvIENT Page 11
CITY C?r RE17L?ING/'T��IItdISOIL INDUSTRIAL INC.
Seller lnakes no i:epresentations c�r warranties, express or implied, regardiFig tl�e Seller, the
Pra�erky, c�r tlle itnprove►nents therean, including, witY�aut limitatian; (a} any warranty of
cnet�c(�ai�t�tbi[ity or fitness fat� a pat�icuiar purperse, (t�}t��e compliarlce of the F'roperty ar�d/or
atly impto�ement� thereo��t, if nny, witt� any applicable codes, laws, regulations, statutes or
ordinances, inclucli7�g a��y E1�vironmental Laws, or with any cavet�a�3ts, coi7ditic�ns and
restrictior�s of a�ay gavern�ne��tal or quasi-gavernmenta]entity ar of�ny other persan or entity;
(c} t11e existence of sail instability; past st�il repairs, soil additia��ts or canciitit���s of soil fill or
st�sceptibility to landslitles, (d} the quality and nature af any ;roulldwater, (e} tt�e awnet•s11ip>
existe��tce, st�tus, q�rality, or nati�re af any water rigl7ts that rnay be appurteilant tc�the Property�
(f} tl�e cswners}iip, existence, statlis, viability, quality at�tzatul•e of any mineral rights that rnay
be apptit�tena»t to the F'roperty; (g)tlle agricuitural pro�lti�ctivity oftl�te Propet�ty; (g)tl�e�Zature,
ty�es ot° quality ofi'tlae soils an the Prc�pet-ty; (II) tlle sufficiency af ar�y undersl�oring; (i} tlae
sufficiency of a►�y drainage; (j}�I1e existe�lce or nor�-existe��ce of Lznderg�oLrnd star�age ta�lks or
pi�elines; (lc) ti-�e presence of any Hazardous Materials (as defined below) on, under or abc�L�ti
tl�e�rape�-ty, or any other�c�joining or neigl�6aring property, or aily itnpl•ovemei�ts thereon; (1)
the aval[ability,quality, �lat�:rre,adeqlaacy and pLlysical conditian df p�blic utilities ai�d services
for tl�e Propet-ty, (m)any other�natter affecting tl�e stal�ility or integrity af the Praperty? �n}tl�e
potel�tial for fi�rtl�er ci�velopment of the Property, (o}the existence of vested land tase, zotZing
o�� b��ildi��g entitleineiats affecting tl�e Property, (p) the zol�ing ai� other le�al status of tl7e
I'roperty �r any athe�• pllblic or private restrictians c�t� use af tl�e Peoperty or tl�e ability to
stibciivic�e the l'roperty, (q) tl�►e physical conditian of tlle Property, ai�y impravetnents an tlae
I'raperty; (r) the canclitian af title to the I'roperty, any improvements on the Prc�perty; (s) tl�e
existence o�• status of any tetzancies affecting tlle Property; (t} the exi�telzce or statt�s of any
pe�����its or approvals rec�L�ired to use ar occupy the Prapez•ty, or any portior�thereaf; andlar(u)
tlze econoAnics oftl�e operatit�i�ofthe Proper�ty, BL�yer�cki�owledges and �grees th�t subject to
tl�e representatians and warranties of 8eller cantained in Section tl, abave, the Prapet°ty is
beillg solcl a«d accepted by Buyer an an"A5-IS,Ve�HERE IS,WITHALLFAULTS"basis,alld
tl�at, efEective as of tl�e Close of Escraw, Buyer assulnes all ��espc�nsibility far a11 faults atld
conditiot�s tlie» existing �•elating to the Prc�perty, or tl7e `rtnprovetnents thereon, spec�f`ieally
it�cltadii�g, but nat liinited to; alI falilts alld conditions i•elatirlg to the matte�•s clescribed in this
�ecticrn 19.1, ancllar as discitrsed or des�ribet� i1� tl�is Agreelnent, andlor in any of tl�e
doc�tnzents or instruments described,pravi�ed for, referred to in, or delivered to Buyer.
19.2 Effective from al�d after the Closiilg, Buyer. hereby waives, releases; exoneiates,
cc>venai�ts r�ot to sue; and forever disch�rges Sel;ler, Seller's elected officials, and their employees,
agents, representatives; �t�ccessars and assigns,to tl�e lnaxiinum extent perrnitted by 1aw, of and from
an� and al1 claims, cieinands; actions, ca�tises of actic�n, rights; liabilities; c�arnages, pei�a.lties, �ne5,
losse5, costs, e�penses; or compeizsation whatsoever, direct oi° inclirect, known c�r tinkylowi�, foreseen
or tmforeseeyi �collectively, °"Claiins;'),tl�at it now has ot�that lnay arise in tl�e future bec�use of`or in
any way grawin� oL�t of, re��ting ta, or connected with tihis Agreernent, atly documel�t ot� instr�.�inel�t
deliv�red p�.�lsuant to tlzis Agreernent, the Prope��ty, any improven�ents on the Propet-ty, including bl�t
riot limitecl to, ar�►y Clai�ns at:ising out of or relating to any Enviranlnental Laws, tlle �resence of
Hazard�us Materials in, on, �.l»der or �botat tlze Prape�-ty; or any �mptoven�ents thereon, or a�ly ather
pliysical ar envir�onmental catldition of tl�e Praperty, or any rmpravements thereon, �ut excll:ading
Seller"s indemnity and defense oblig�tion5 l�nder Section 29, belaw, and matters arising from Sel�er`s
fraud c�r interltional misrepresentation. BUYER EXPRESSLY WAIVES THE BEI�I�FITS OF
SECTION 1542 �F THE CALIF{7RNIA CNIL CODE, WHICH PRC}VIDES AS FOLLC7�VS: "A
CJENERAL RELEASE DOES �OT EXTEND TC� CLAIMS THAT THE CREDITOR OR
RELEA�TNG l'AI2TY L)tJES NOT KNOW C?R SUSP�CT TU E�IST IN HIS OR HER FAVOI�AT
THE TIME OF EXECUTING THE RELEASE AND TF-IAT,I�KNt7WI`�TQ HIM OR HER,WOULD
RE;AL LSTATE PUR�I-IAS�ANI}SALG AGR�EMGNT Page 12
CITY(7r I2EDTJING!TECI-IN150IL INDUSTFtIr1L INC.
HAVE MAT�RIALLY AFFECTED HIS OR I-�ER SETTLEMC�T WITH THE DEBTOR t}R
RELE�SEL>PAI�TY.'"
Bi�yer 11as ilzitialed tl�is Subsection 19.�to fL►rther►ndicate Biayer's awarenes�of and acceptance
of tille genera] release of a(( knc�wi�ar�d ut�known C'l�ims as provided for abave. TIZe prc�visions�f thi�
Subsectio�l 19,2 s1�a11 be effective r:�pan a��►d sha11 sL�rvive tlze Close ofEscraw.
Bl�yer:
20. L�+QUID�iTED llAMrr�GES Q1Y SU'YER'S D�FAULT. BLI�'ER AhII? SELLER
HEREBY ACI�I�OWLEDGE AND ACrREE TI�AT, IF BLTYER i'A�LS TO COMPLETE fiHE
PUI2CHASE OF THE �'ROPERT'Y AS A RESULT C}F A DEFAULT BY BUYEFL IJNDER THI�
ACiRLEMEI�iT A.NL} BUYER FAILS TO CURE SUCT-I I7EFAULT WITHIN FIVE {5) DAYS
F(7LL�WING RECE�PT C}F WRITTEN NOTICE tJF SIJCH DEFAULT FRC}M S��,LE� TO
B:UYER ("BUY�R L}EFAULT"), SELLER WILL SUFFER DAMACiES IN AN AMOUNT Vt/HICH
WILL, I)UE TO THE SPECrAL NATURE (�F THE TRANSACTION CUNTEMP'LATED BY THIS
ACiREEMENT A.ND T�-l� SPECIAL NATURE UF T�IE I�1ECaOTIATIC7NS WHICH PRECEL)ED
THIS ACREEMEI`�T, BE IMPRACTICAL OR EXTREMCLY I�IF�'ICULT TO AS�ERTAIN. IN
AI3l�ITIQN, BU�YER WISHES TO HA�E A LIMITATION I'LACED UPtJI�1 THE POTENTIAL
LIABIL[TY QF�UYER TO SELL.ER IN THE EVENT{}F A B'UYEI�DE�AULT,ANI�WISHE�TO
INDUCE SELLER T{�WAIVE t�THER REMCI)IES WHTCH SELL;ER MAY��AVE IN TI�E EVENT
4F SUCH A BUY�It DEFALILT. BUYER ANI7 S�LLER, �IFTE� DUE N��CITIATION A�+TD
GIVIhiCi I)UE CONSIDERf1TlON TO THE ACTUAL DAMAGES SELLER COULI3 SUFFEIZ 1N
THE EVENT fJE A BUYER DEFAULT; I�EREB�'ACKNt`�WI�EDGE AI�iD AGREE THAT THE
AM�UNT OF THE D�POSIT REPRESE1klTS A REASONABLB ESTIM�IITE t�F THE DAMAGES
SELLER WILL SUSTAIN IN T1�E EVENT(.�F A BUYER DEFAULT,
BUYER AND �ELLER HER�BY AGREE THAT IF BUYER FAIL� T4 FURCHASE THE
I'RUPEIZTY AS ,� PeESULT C?F A DEFAULT BY BUYER HEREUNI�EIt, SELLER SHALL BE
ENTITLEb Tt`� 'TEItlV1INATE THE AGREEMENT UPt�N �VRITTEN N{)TICE T{� BUYER AND
TNE ESCRf�W AGENT,ANI7 THE ESCRC}W AGENT SHALL PAY TC} SELLER TNE DBI'C}SIT
ANI7 ANY AD1��TIC7NAL DEPOSITS (ANI� ALL ACCItUED INTERE'ST THET�EON} A�
LIQUrDATEI7 �AMACiES. THE PAYMENT t�F SUCH I�UNDS TQ SELLER IS INTENT�ED Tt�
CC?NSTITUTE LIQUIDATEI� DAMAGE� TC} SELLER PUl'LS[JAhiT TO �ECTIt7I�1� 1671, 1676
AND 1b77 O� THE CALIFt�PRNIA CIVIL CCJDE, ANI� SI�ALL NOT BE DEEMEU T�
CONSTITUTE A�'tJRFEITUIxE C1R PENALT'Y WITHIN THE MEANIh�Ci QF SECTIC?I�I 32�5 t7R
SECTI4N 3369 �F THE CALIFC�RNIA CIVIL COTT3E, {�R ANY SIMILAF� PRQ�ISIt�NS. THE
LIQUIDAT�I� DAMAGES PROVII)EI� FC1R HEREUNDER SHALL BE SELLER'S SQLE AND
EXCLUSIVE REMCDY(WHETHEit AT LAW OR 1N Et�UIT'Y) IN THE EVENT BUYER FAIL`S
TC?PURCHASE Tl-�C PROPERTYAS A RESULT t7F A BL1'YER L}EFAULT,ALL t�TH�R.CLAIMS
TC} UAMAGES OR C}THER I�EME�IES, INCLUL}ING BUT N{�T LIMITED TO SPECIFIC
PERFORMANC�, BEI1�Ci HEREIN �XPRESSLY WAIVEL? BY SELLEF�. FQLLOWING
TERMINATI(JN OF THIS AGREEMENT, CANCELLATION OF THE ES�RC�W ANI� PAYMEl�]T
OF THE I�EP�7SIT AND ADIJITIONAL I�EPOSITS (AI`�1D ALL ACCRUED INTEREST
TNEREQN) TO ��L,LER AS LIQUIDATED DAMAGES PUI�SUANT TO THIS �ECTION,ALL
(:�I'THE RTGH'I'�AND C�BLIGATIONS O�' BUYT'R ANI7 S�LI.,ER UNDER THIS AGREEMENT
R6AL ESTATC I'URCHASCANCJ SAt,EAGRL�M�NT 1'age 13
CITY OI�RGDDING/TECNNISOTL INDUSTRtAL INC.
SHALL BE TERMINATEI3, EXCEPT AS �THERWISE EXPRESSLY PRUVIDED ELSEWHERE
HEREIN.
THE PARTIES A�KNOWLEDGE AND AG1�EE THAT THIS LI�UII�ATEL? DAMAGES CLALTSE
SI-IALL NOT APPL4' TEJ BUYETT2'S INI7EMNITY OBLIGATIONS AI'�1D DEFENSE
(3BLIGATIONS IJNL}EI� SUI3SECTION 10.4 AND SECTION 23
C}F THIS AGRE�;MENT OR P.PF'LY T{7 OR LIMIT SE;LLER'S RIGHT T(3
R�COVERATTORNEY'S FEES FR{�M BUYER PUI�SUANT TU SUBSECTIC3N 1�.4, SECT'IDN
28,O�' T�II s A�1�EEM�I�1T.
BUYCR AND S�LLER ACICNOWL�DGE THAT THEY HAUE REAI?AND UNDERSTAND THE
PRC7VISICINS OF TI�IS SECTIC?N ANI7 BY THEIR INITTALS IMMEDIATELY BEL;t�W,AGREE
TO BE BCJC�ND 13Y IT5 TERMS,
t`Seller" "Buyer'°
ll�FAULT BY SELL�I2. IF SELLER I)EFAULTS 1N'SELLER'S OBLIG�TIQN T(� SELL
ANL� TR.�INSFER THE I'Rt�PEIZTY TQ BU�ER AT THE CLOSE C3F ESCRt�W, ANI7 �ELLER
FAILS `TC� CZ.7RE SLTCH DEFAULT �VITHIN FIVE (S} L}AYS FOLLt�WING TLECEIPT C}F
WR.ITTEN Nt7TICE OF SUCH DE�AULT FROM BLJYER T4 SELLER, BUYER SHALL HAUE
THE RIGHT,AT BX.JYER'S OPTIC}N,TC1 EITHEI2; (A}PU1t5UE SPECIFIC P�RF+�RMANCE OF
THIS AGREEMI;NT AND T�-fE RECC?VERY C�F BUYER'S I2�ASt�NABLE ATTt�RNEYS' FEES
PURSUANT TO SECTIC}N 28, BELOW, IN THE EUENT BUYEIZ IS THE PREVAILING PARTY
(BUT EXCLUDING ANY DAMAGES {:?R OTHER M{}NETARY �QMI'ENSATIt}N
WHATSOEVER,IN�LUI7ING BUTN4T LIMITEB TC},ANY INCIDENTAL,CC7I�15EQUENTIAL,
DEL�iY C}R {�THER DAMAGES OR COMPENSATI�N}; OR (B) TERMII'�tATE THIS
AGR�`�MENT ANI) THE ESCRCIW AND RE�EI�E A RETURt'� OF THE DEPO�IT (ANT�ALL
ACC�UED INT]�REST THEREt?N). BUYER SHALL BE DEEM�D TC? HAVE ELECTEI7 T�J
TERMINATE TI�IS AGREEIvIEl'+1T AND RECEIVE A RETURN OF THE I�EPOSIT PURSUAI°4tT
Tt.� CLALTSE (S} ABOVE LTNLESS BUYER MAKES AI'�I A�FIRMATIVE ELECTION BY
WRITTEN NI�TICE TO SELLER AND ES�ROW AGENT WITHIN FIFTEEI�i(15) I�AYS AFTER
EXPTRATION UF THE �'IVE (5) DAY PERIOD FC1R SELLER'� CURE I'RC,�VII}EI)ABOVE Tt}
SE�I� SPECIFIC; PERFORMAI�CE AS PERMITTED IN CLAIJSE (A} ABC}VE, PI�OVIDEI�,
H�WEVER, THAT IF BLTYER�LECTS Tt7 SEEK SPECIFIC PCRFORNIANG�, BUYER MiJST
FILE AND SERVE A COMPLAINT SEEI�ING THE �AME WITHIi�tt SIXTY (60) I)AYS AFTER
THE CL(JSING I�ATE. BUYER'S FAILURE TO ELECT WITHIN FIFTEEN (IS) DAYS AFTER
EXPIRATICIN C?F THE FIVE (5) 17AY PERIOD F�R SELLER'S CURE PROVIDED ABt3VE TO
SEEl�S:PECIFIC FERFt7RMAN�E AS PERMITTED lN CLAUSE{A}ABOVE ANDIOR Tfl�FILE
A1WD SERV�A SPECIFIC P�RF�RIVIANCE ACTION WITHIN THE SIXTY (60} DAY PERI(7D
PR{IV�DEL� HEFtEIN SHALL I3� I7ECMEI,�Al`�T IRREVOCABLE WAIVER OF THE RIGHT TO
FILE SUCI�AN�CTIt7N AND�3F SUCH REMEDY. IT IS UNI)EItSTOUD AND AC"rREED TH1�T
(I) THE REMEI3I�S QF BUYER 5ET FORTH IN TI�IS SECTIQN SHALL BE BUYER'S �OLE
AND EXGLUSI�E REMEDIES IN THE EVENT OF A SELLER DEFAULT, (II) BU�ER SHALL
NOT BE ENTITLED 'TO SEEK C�P� REC(JVER M(JNETARY I)AMAGES OR. OTHER
CUM�'ENSATT4N I'R(�M SELLER UNDER ANY �CIRCUMSTANCES, AND (III) ALL CLAIMS
TC} UAMAGES AND ALL OTHEI� REMEDIES NC}T SET FOI�:TH iN THIS SE�TIC}l'� ARE
HEREBY E�FRESSLY WAI�IED BY BU�'ER.
RLAI.GSTATE PURGI�ASC AND SAL�AGIt��MF,NT Page 14
C'ITY OP RGDDING/T�CI INISO]L INDUSTRIAL INC:
BUYER �ND SELLER ACKNQWLEDGE THAT T�-IEY HAVE READ AND
UNDERSTANI) THE PRQUISI01'�15 C}F THIS SECTIC?N AND BY THEIR INITIALS
IMMEDIATEL�BELOW,AGREE Ta BE BOLII�tL) BY ITS TERMS.
°SELLEIt": "BUYER":
21, P'ossessior�. Po�session af tl�e Pt:aperty sha11 be delivered tio Buyer at the Closing;
uniess otherwise agreed upon in r�vriting between Bttyer anc� Seller•.
22. I`�� olali�ation to ret�air, �orrect T)e�ciencies, Im�rt►ve or Clean-u� Pro�ertY.
Seller sl�all llave t�c� ol�ligation ta repair, cc��•rect ar�ty deficiencies in, or l��ake any impravelnents to tl�e
Prop�rty or any i�nprovernei�ts therec�i�, or ta remove�ny trasl7 ar del�ris from ttae P�:opet�ty,prior ta tlze
Close af Escrow.
23. II��-ol��r's Fees. Seller atld Bt�yer represent anc� warr�nt tc� each other that i11ey l�ave
dealt �vitl� l�o brolcer or finder in connection with any trartsaction cont�mplated by this Agreeinent'
excet�t B`t�yer has engaged a i�eal estate braker F�en Murray (Ca1RE#. 005$1789} (``Buyer's Braker").
Seller sha11 be obligated to pay (witilzout contribLttion of any kind fcc�m Buyer) t� Buyer's �3coker a
cor'nrnission of 3 percent. Seller at�d �uyer each a�ree tio inciemnify, defend, and hold harmless or�e
ai�other against any loss,liabilit�,darnage,cost,claim,or ex��nse incurred t�y reasan of any brokerage,
cornmissio��, c�r fnder''s fee alleged ta be �ayable vecac�se of any �ct, a►nission, or statetnent of tl7e
igzder�nnifyrng pat-ty.Tl7e parties'r�biigations herelrnder st�all strrvive the C3ose of Escrow a11d recording
of the Q�iitcl�iin L�eed in the 4fficial Recor•ds, c�r �ny earlier cancellati4n or terznination of tl�is
Agreerner�t.
2A. l�o Partv�7►eera�ed Dr�fter, In t11e event of a dispute betuTeen any of the pai-ties hereta
over the meaning of this Agree►ne�It, tYo party shall I�e cleemed to have been the dtafter her•eof, al�d tf�e
�rincip�e of law tliat cantracts are ct�t�stcued against the drafter sh�tll nat apply.
25. Further Assur�nces: S�ller and I�uyer agree tl�at, from trme to time, at ar aft�r tl�e
C(ose t�f Escrow; each of them will execcite anc� d�liver such fi�rtl�et• docuit�ents a�i€1 instr�iments of
conveyance ancl transfer, �tid take st�ch atl7er action as may be reasonably necessai:y to car�y out the
pu�pose and in�e»t af tl�is Agreemet�t.
26. IVotices.Ai�y l�otice, request,waiver, co��sent, approval or other communicatioll whicl�
is reauired or permitted lierel�nder shall be in writi�lg and s11a11 be deemed given anly if deliv�red
pei:sc�nally or set�t by registered c�r ce�-I:ified tnail,po�tage prepaid, return recei�t requested,as follows:
(a) if tc� Sell�r, to City of Redcling,Attn: Barry Tippirl, City Mai�ager; 7'77 Cypress Aventae, Redding;
CA 96001, with � �equired capy to �1lristian M. Curtrs; City Attorney; City of Redding,777 Cypress
AvenLle, R:eddin�, CA 9G401; (b) ifto Buyer, ta Technisoil It�dustrial, Inc.,Attn: Sean Weaver,,5660
Westsi�le Rd5 Redding;CA 96001; or{c}to s�lch otl�et•at�dress as the adc�ressee may have speeified in
a'notice d�.aly giv�;ii to tlle sender as provided herein. Strch notice, i�eq�.iest, demand, waiver,consent,
approval c�r otl�er cornn�unicatiar� will be deemec� tc� have been given �s of the date sc� personally
delivered, or twc� (2) clays aftet�it is �lepasited in the mai(.
RCAL�STATE PURCTIA5E AND'SAL�AGRrCMLNT Pryge l i'
�1TY OF TtCt7I311VG1 TGCIiNISOIC..INI7USTRIAL IN�.
27. �ssi�nment, BL�yer may nat assign its rights and obligations ullder this Agreement
witl�a�,it the pl•it�t• written cr�nsent af the Selle�•w]�ich rn�y be granted or witl�held by Sellet• in its sc>1e
and absott�te discr-etic�n=Ar�y assigr�ee o�the Buyer conseutec�to by Seller shall be requirect to ex�cute
al�c� detiver to Selle�•, prior• tcr t��e date ar�y sl►ch assignrrrent becori�es effective„ a sepat�ate writteil
agreer�rent, approved by Seller an� its legal counsel, pi�rsuant to wl�ic}Z the assignee {i) expressly
ass�:zmes all t�f th� Suyez�'s abligations as Bi�yee under tllis Agreeme��t, and (ii) agrees ta the retease,
lin�itatial�s on r•emedies,and�ther p1:�visions l�erein for tl�e benefit of�e[let`: Na petmitted assigntnent
by the Buyer shal( relieve B��yer of�ny of its obligatians undet this Agreeme��t
Z$. A�torney'� Fees. In th� eve�zt �f any legal action, arbitrltic�n or other proceeding
arising o��t of tt�is Agt�ee►nent,the pte�ailing paa•ty st�alt be entitlec�to its rea�onable attorney's fees and
costis in additic�»to any otl�er relyef to whicl� it may be e�Ititle�.
29. Survival. All of Seller's a1�d Bu�er's covenants, agreetnents, re}�resentations artd
warranties cantained irt this t�g��eeinent shall s�:li:vive the Clase of Escrow and recardatio7� of tE�e
t�ui#claim I)eed i�z tl�e t�f�icial Records of S1lasta County; �alifornra,
30. �r�tire A�reein�nt. Tl7is Agree�nent, at�d a11 documents and "ulstru�nents referred ta
11ez•ein, contain t17e e��tire agreement;oE the parties heret� with respect to the matters covered hereby
ancl super•sede atl prior ar�•atlgen�tents and �,►t1de�•stai�dings betwee�l the parties, and n�other agt•ee�rten#,
statemet�t or prot-nise�nade by either Party i�ereta with respect to such matters�vul�ich is t�ot contained
herein shall be binding or valid,Na �mencll�nent, alteration ar modi�cation t�f this Agreernent sllall be
valid unless i�7 eaclz iiistance sucl� a�nel�cltne�7t, alteration ar ��nc�di�cation is expi:esseci in a written
instrui�lenl:dt�ly executed by the parties.
31. �ucc�ssars anc�Assi�ns. Tlae terms and collditioi�ts of this Agreei�ent shall be binding
upan and incrre to tl�e b�t7e�t of the p���ties I�eretr� and their personal at�d legal repi:esentatives,
bene�ciaries, i�eirs, success�rs in'interest and assigns.
32. Partia�Invalidit�v,If arry term c�r provision aftl�is Agree�nenti crr tl�e applic�tion thereaf
to any person ar circt�instar�ce sha11; to any extent, be invalid c�r u�lenforceable, ti�e remainder of this
Agi:eeme��t, c�r tiie applieatioil of sucl� term or provisian to }�ersans Qt• circutr�stances�the�:than tllase
as to which it is l�eld invaCid or unenforce�ble, shall not be affected thereby, and each sLre11 term and
pt:ovisiai�of tlzis�greei�ent sl�all 1�e`valicl anci be enfo��cecl to tl�e fullest extent perinitted by]aw.
33. �'aivers, l�lo waiver of any breach c�f t17is Agree�nent Shall be vali�i unless in writing,
noi` shall �ny such waiver lae deemed a waive�• of any pre�eding c�t succeedir�g brteach thereof, or of
a��y other cc�vel�ant or provision hei{ei�� contained.
34. l��l�tionshi�of P�rties. This Agreement is a purcllase and sale agreer��ent only. TI�e
p�rties hereto,eacl� af whom is rept�esented by separate legnl cacinsel,da nat intend by this Agreement
tcr create any pat�nerslzrp,jointventure,c�r p�-incipal and aget�t reCationship{and notl�ing lierein sllall be
coi�strtred to create ��Zy s�cl�r�lationsl�ip).
35. Co�interparts,Tl�is Agreement must be tnanually signedat�d initialed by Sellee and Buyer
(and m�y nat be electranicaily �r digitally signecl and ic�itialed by the parties): This
Agr•ee�nez�t may be executed i�� one or more counterparts, each af whicl7 sl�all be cleemed
at� o�igii�al, bl�t �Il of whicl7 tageti7er shall eonst'rtlxte one and the satne instrc�meut. The
R�AL L,STATG PURCC-iA5�ANI]SALC AGRL,GM�NT Page]b
CITY Or REDt3ING1 TE�'ftNiSOIL iNDtJSTRIAL 1NC>
e�ecutioi�pages af caullterpat�ts inay be attached to any one copy of the Ag��ee�nent to fc�rm
a siilgle, cornplete dacuinent. The parties agree tl�at the trans7nission of a si�ned ct�py of
tllis�greeinent via e-�nail sl�atl constitute excclttion and delivery h�reof, and the parties
agree to deliver ariginal ink signed counterpat-t� �s saon as reason�bly possibl�thereafter.
36, Inccar�oratxan by Iteference. A11 recitals, exlzihits and schedules to this Agree�nent
are'inco�-po��ateti hereirl by this refetet7ce.
37. �ove�nin� Law. Jui;isdiction and Venu+�. This Agreemer�t shall be goverl�ed by and
constrl�ed in accordance with the laws of the State of Califarr�i� {withoL�t giving effect to
the conflict af" law provisions of sl.lch State). Any proceeding brocxght by either P�rty
agaiil;;t t�ie other ar any dis�ute acisil�g out ofthis Agreeznent or any matter�-elated t��er•etc�
rntast�e broug}�t in the c�urts of the State af Califor��ia i�l Sl�asta�aut�ty: Seller and Buyer
l�ereby (a}acc�pt ancl consent to the exclusive j��risdictio�� of the catai-ts refei-red tc� i�� tl�e
prececling senter�ce, (b} waive any c�bjectian to the jut�iscliction of t(�e above-referenced
courts,a31d(c)waive any objectic�ns to venue in th��bc�ve-referenced cauurts,wlietl�er b�sed
�tpon forG�i�1��0�1 conve�l'rens or any other gro�.�nds.
3$. T�me.T'irrle is af tlie essence with r•espect to eacli a��d every t�r��n and cc�r�clitton af this
A�reement;
39. I3�s atid Hatida�vs,A(1 references in tllis Agreeinent to the word"days,'>whetl�er for
»atices, scl�edules, perft�rmance, ot otl3er lniscella��eo�:as time limits, s1za11 at all tilnes inean calenclar
d�,ys, u«Iess specifically reFerenced as "business" days; �usiness days �re Monday through Frid�y,
except legal haliclays: In flYe eve��t a�-�y date for pe�formallce of�ny obligation or the giving of aiiy
rlotice pursuant t� tl�is Agreement occurs on a �alifor��ia state or� feder�l holiday or on a Sat�.trcl�y or
Scznclay;t11en tl�e next business day sl�all be dee�ned the applicable ciate for pet�fi�t�ir�ance ar•n�atice.
40. I�'e�rce IYIa`e,�,,,ure.Any prever�tial�► or delay in perfo�•inance dt�e tc� labot•disputes, acts af
God, fire or�ather castialty,acts of tielrorisin or war,pandetnic(it3cluding,biat nt�t lilnited to,the c�:trrenf
COVII)-I9 pandemic);goverllmental actions or t•estrictians{otller tl�an actions or r�strictions impascd
ar taken by Seller), inability to abtait� servrces, Iabar, c�r materials (ir�cl�tding, but not limiteci to, t(ze
services of the Escrow Agent,Title Company,or•SI�►asta County Recot��ier as a resi�lt of offfsce closures
or otl�erwise), oe'�ther cat�ses (except �nancial} beyond the reasonable contrc�l of the �'arty obligated
tc� perfor�n (eacl�t�1-� event t�f"Force M�jei�i�e"} sl�ali excuse the performance by thatPart�for a period
ec�ual to tlie prevention or delay.Any delay in 5e11er's delivery af tlle Property L7oc�ame»ts to Buyei
cattsec!by�"orce Ma�jeut�e shall autornatically extel�d the Uue Dilige»ce Period and tlze�lasing Date by
a Iike rrumber of days.
Signat�ar�e Fage tc�Fallow
R�AL LST?.'TE PUt'�CC-IAiE AND SALE AGRri3M�NT Page 17
CITY bP ItLD171NG!TC�H1�tISOIL INDUSTRIAL iNC,
I�UYER: SELLER:
TECHNISOIL INDUSTI�IAL INC:, �ITY C�F iZEDDINCr?
A Delaware corporation a municipal corporatian
B .
By. y.
1ts: �.�,,�s� Its:
Dated; `'� ' 1 � °'z-- � I�ated:
RGAL�STATG PURC4-IA3�ANT7 SALG AGRGrMENT Page l%
�ITY Ol�I�GDT7LNG1'fECI1M50IL INDUSTRIAL 1NC.
Exhibit A
LE+GAI, �SCRIP'TIO►�f
All that real �rt�perty situate within a portion c�f the Northeas't ane-quarte�� of Section 26,
Township �1 North, R���ge 4 West, Mount Diablo 1vleridian, �ity of Redding, County of Shasta,
State of�alifornia being mare particularly described as follows:
Parcel 12 as shouvn on the Stillwater Business Park Parcel Map PM Su07 &PD 4-07 filed on May
8,2008 in Bt�ol�37 r�f Parcel M�ps at Page 93,Shasta County Records.
Cont�►ining 25.41 acres mc�re or less.
APN 054-26Q-004
Exhibit B
RE�(�RDING F�.EQUESTED BY:
City afReddin�;
WHEN R.ECt�RDED MAIL DQCUMENT
AND TAX STATEMENT T�:
City Clet-k
City of I�eddit-�g
777 Cypr-ess AvenLie
Redding;C1�9bQ01
TiIF,ARi:A riI3ClVE IS RESERVED Ft1R ItECOitL�FR'S US�+
A.P;Na OS4-260-0�4
U�T��f�� �+ �
TNE UNDEI2SIGNEI)GRANTOR DECLARES:
Docume»ta�y Tt•ansfer T�-
City of Rec(ding EXEMPT'-Rev.&Tax.�.A.' t 1922(Transfer Involvit�g-Governrnent Entity�
NO F�E-CITY BUSINESS-Gov:Cade'610�
FOR VALUABLE CONSIDERATION, the receipt of'wl�icl� is h�reby acknowledged; CITY UF
RED�ING,a Municipal Co�pc�ration
HEREBY REMI�E, RELEASE AND FCIRE�ER QUITCLAIM to TECH1�tTSOIL �l�tI�UST AL
IN+C.
The follawing described real property in the CITY OF REI}L)IN(:�, County of Shasta, State oE
Ca�ifc>ri�ia:
Patcel 12 �s shown on tl�e Stillwatez-BLasiness P�ik Parcel Map PM 5-07 & PD 4-0'7 filecl on May $;
2008 it�Boak 3'7 of Palcel Maps at Page 93, Shasta Caunty Recards.
GRANTC?R:
CITY C1F REDDI�G
DATEI?; , 2b25 BY:
JACK ML.JI�II�1S, MAYOR
ATTEST: FORM APPRC}VED
SHARLENE TIPTt}I`�1, CITY CLEPK CHRISTIAN CLTRTIS, CIT`YA'TTC3RNEY