AGREEMENT FOR PURCHASE AND SALE
(UTILITY EASEMENT)
THIS AGREEMENT FOR PURCHASE AND SALE ("Agreement") is made and entered into as of ______ , 20_ {the "Effective Date") by and between CITY OF SANTA CLARA ("Grantee" or "City") and Berto Development, a California limited partnership ("Grantor) with regard to the purchase and sale of certain property interests, upon the terms and conditions set forth herein.
RECITALS
WHEREAS, The City of Santa Clara's Electric Utility, Silicon Valley Power (SVP), plans to construct approximately 0.6 miles of new 60 kilovolt (kV) overhead transmission line along Shulman Avenue, Memorex Drive, Ronald Street, Di Giulio Avenue and Lafayette Street within the northwestern area of the City of Santa Clara. SVP's primary objective of the Memorex Loop Project ("Project") is to increase system capacity and reliability.
WHEREAS, the Project will involve the placement of multiple new monopole steel structures and/or replace existing wood pole structures and result in either the expansion of existing electric overhead and wire clearance easements or the acquisition of new easements.
WHEREAS, Grantee wishes to acquire from Granter, and Grantor wishes to sell to Grantee certain property rights, as more particularly described in Exhibit A (the "Easement") for the Project upon the terms and conditions set forth herein.
WHEREAS, Granter and Grantee recognize that the sale of the Easement is subject to approval of the Santa Clara City Council and that this Agreement shall have no force or effect unless and until said City Council approval has been obtained, which approval shall be obtained before execution of the Agreement by Grantee.
NOW THEREFORE, in consideration of the mutua! covenants and promises of the parties, the parties hereto agree as follows:
ARTICLE 1
PURCHASE
1.1. The Easement. Granter is the fee owner of certain real property commonly known as 1045 Shulman Ave. APN: 224-63-006 located in the City of Santa Clara, California over which the Easement will cross.
1.2. Sale and Conveyance. Granter shall sell to Grantee and Grantee shall purchase from Granter, all of the terms and conditions set forth in Articles 2 and 3 hereof, the Easement.
ARTICLE 2
PURCHASE PRICE
2.1. Purchase Price. The purchase price ("Purchase Price") for the Easement shall be Twenty Thousand and no/100 Dollars ($20,000.00).
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SCLA" 56598\2322245.1
EXHIBIT B