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HomeMy Public PortalAboutResolution - 86-62- 19861022 - Lands of ZandRESOLUTION NO. 86-62 RESOLUTION OF THE BOARD OF DIRECTORS OF THE MIDPENINSULA REGIONAL OPEN SPACE DISTRICT AUTHORIZING ACCEPTANCE OF AGREEMENT TO EX- CHANGE REAL PROPERTY, AUTHORIZING OFFICER TO EXECUTE CERTIFICATE OF ACCEPTANCE OF GRANT TO DISTRICT, AND AUTHORIZING GENERAL MANAGER TO EXECUTE ANY AND ALL OTHER DOCUMENTS NECES- SARY OR APPROPRIATE TO CLOSING OF THE TRANS- ACTION (THORNEWOOD OPEN SPACE PRESERVE - LANDS OF ZAND) The Board of Directors of the Midpeninsula Regional Open Space District does resolve as follows: Section One. The Board of Directors of the Midpeninsula Regional Open Space District does hereby accept the.offer contained in that certain Agreement to Exchange Real Property between Siavosh Marc Zand and the Midpeninsula Regional Open Space District, a copy of which is attached hereto and by reference made a part hereof, and authorizes the President or appropriate officers to execute the Agreement on behalf of the District. Section Two. The President of the Board of Directors or other appropriate officer is authorized to execute a Certificate of Acceptance to any deed(s) granting title to said property. Section Three. The General Manager of the District shall cause to be given appropriate notice of acceptance to the seller. The General Manager further is authorized to execute any and all other documents in escrow necessary or appropriate to the closing of the transaction. Section Four. The General Manager of the District is authorized to expend up to $5,000.to cover the cost of title insur- ance, escrow fees, and other miscellaneous costs related to this transaction. Section Five. The sum of $280,000 is hereby ordered to be withdrawn from the Midpeninsula Regional Open Space District 1986 Promissory Note Fund for this purchase. * * * * * RESOLUTION NO. 86-62 PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space District on October 22 ,1986 at a regular meeting thereof, by the following vote: AYES: Katherine Duffy, Daniel Wendin, Teena Henshaw, Nanette Hanko, Harry Turner, and Richard Bishop. NOES: None ABSTAIN: None ABSENT: Edward Shelley ATTEST: APPROVED: Secretary, Board of Dir lctors Vice President, Board of Directors I, the District Clerk of the Midpeninsula Regional Open Space District, hereby certify that the above is a true and correct copy of a resolution duly adopted by the Board of Directors of the Midpeninsula Regional Open Space District by the above vote at a meeting thereof duly held and called on the above date. 4.1 4;cido Dis ict Clerk L AGREEMENT TO EXCHANGE REAL PROPERTY This Agreement is made and entered into effective as of the day of , 1986 by and between SIAVOSH MARC ZAND (here- inafter "Zand"), and MIDPENINSULA REGIONAL OPEN SPACE DISTRICT, a Public District formed pursuant to Article 3 of Chapter 3 of Division 5 of the California Public Resources Code (hereinafter "District"). RECITALS WHEREAS, Zand is the owner of certain real property ("the Property") containing approximately 12.491 acres and located in the Town of Woodside, County of San Mateo, State of California; being more par- ticularly described in the property description attached to the Preliminary Title Report Number 112040, dated September 16, 1986 from Founders Title Company, said Report being attached hereto as Exhibit "A" and incorporated herein by this reference; and WHEREAS, Zand is also the owner of certain rights in real property ("the Property Interests") resulting from that certain Stipulation upon Judgment (San Mateo Superior Court Case No. 228057), filed for record on August 22, 1979 and attached hereto as Exhibit "B" and incorporated herein by this reference; the Property Interests encum- ber that certain real property described in Exhibit "C" as attached hereto and incorporated herein in this reference; and WHEREAS, District was organized as a public district to acquire real and personal property by purchase, exchange, gift or bargain sale for public park, recreation, conservation and open space purposes in the San Francisco Midpeninsula area; and WHEREAS, the Property has natural beauty, open space and recreational value currently of interest to District; and Agreement to Exchange Real Property - Zand Page Two WHEREAS, District is proposing to acquire certain real property ("the Exchange Property") on a bargain -sale basis, containing approximately 60 acres and located in the Town of Woodside, County of San Mateo, State of California; being more particularly described in the real property description attached to Preliminary Title Report Number 619755, dated September 22,1986 from Founders Title Company; said Report being attached hereto as Exhibit "D" and incorporated herein by this reference, and WHEREAS, Zand is desirous of acquiring the Exchange Property from District, subject to an Open Space and Conservation Easement over a portion of the Exchange Property ("Open Space Area"), in the form attached hereto as Exhibit "E" and incorporated herein by this reference, and WHEREAS, Zand desires to sell and exchange the Property to District and District desires to sell and exchange the Exchange Property to Zand for the consideration and on the terms hereinafter set forth. AGREEMENT NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises and covenants herein contained, the parties hereto agree as follows: 1. Property Interests to be Conveyed by District. District agrees to grant and convey to Zand, and Zand agrees to receive and accept title from District, the Exchange Property, as described in said Exhibit "D", subject to an Open Space and Conservation Ease- ment over the Open Space Area in the form attached hereto as said. Exhibit "E", subject to the conditions of Section 10 hereinbelow. Title and possession of the Exchange Property and the interests therein shall be conveyed and exchanged to Zand at the Closing (as hereinafter defined), free and .clear of all liens, encumbrances, easements, r Agreement to Exchange Real Property - Zand Page Three assessments, leases (recorded or unrecorded), restrictions, rights, covenants and conditions of record,• except: . a. Current real property taxes shall be pro -rated as of Close of Escrow. b. Title exceptions 8 through 12 and 14 through 23 as listed in the Preliminary Title Report attached hereto as said Exhibit "D". c. The Conservation Easement over the Open Space Area in the form attached hereto as said Exhibit "E". d. Any other title exceptions or encumbrances as may be acceptable to the parties hereto. 2. Property Interests to be Conveyed by Zand. 2.01 The Property. Zand agrees to grant and convey to District and District agrees to receive and accept title from Zand, the Property, as described in said Exhibit "A", subject to the con- ditions of Section 10 hereinbelow. Title and possession of the Property and interests therein shall be conveyed and exchanged to District at the Close of Escrow, free and clear of all liens, encumbrances, easements, assessments, leases (recorded or unrecorded), restrictions, rights, covenants, and con- ditions of record except: a. Any and all taxes for the fiscal year in which escrow closes shall be prorated as of the close of escrow. b. Title exceptions 3, 4, 5 and 6 shown in said Preliminary Title Report attached hereto as Exhibit "A". c. Any other exceptions or encumbrances which may be accept- able to the parties hereto. ti. y r Agreement to Exchange Real Property - Zand Page Four 2.02 The Property Interests. Zand agrees to quitclaim to District and District agrees to accept from Zand the Property Interests in the land described in said Exhibit "C". 3. Additional Consideration by Zand. In addition to the Prop- erty and the Property Interests being conveyed to District by Zand as stipulated in Section 2 hereinabove, Zand shall pay to District, as additional consideration, the sum of One Hundred Twenty Thousand and No/100 Dollars ($120,000.00), payable at Close of Escrow as further provided herein, reduced by the exchange value credits and interim payments owed by District to Zand in accordance with Section 4 hereinbelow. 4. Exchange Agreements. District and Zand have previously entered into two exchange agreements under which Zand was a grantor of real properties to District in connection with delayed tax-free exchanges, as follows: a. In accordance with that certain Agreement to Exchange Real Property - (Lot 10), by and between the parties hereto, dated August 13, 1986, a copy of which is labelled'Exhibit "F" as attached hereto and incorporated herein by this reference, Zand has an exchange value credit in the amount of $54,700.00 (plus interim payments) with District, for real property transferred to District on August 13, 1986, receipt of which is hereby acknowledged by District. b. In accordance with that certain Amendment Regarding Exchange of Real Property - (Lot 11), by and between the parties hereto, dated August 13, 1986, a copy of which is labelled Exhibit "G" as attached hereto and incorporated herein by this reference, Zand has an exchange value credit in the amount of $64,471.25 (plus interim payments) with District, for real property transferred to District on August 13, 1986, receipt of which is hereby acknowledged by District. g. • r Agreement.to Exchange Real Property - Zand Page Five Zand has a total exchange value credit in the amount of.$119,171.25 (plus interim payments) with District under the agreements described in this Section 4, and in accordance with the terms of those agree- ments and the letter of September 22, 1986 from Zand to District (a copy of which is attached hereto as Exhibit "H" and incorporated herein•by this'reference), District shall transfer and convey the Property to Zand in part to satisfy District's exchange obligations under those agreements. Additionally, District shall pay all of the costs of escrow and title insurance fees for both the Exchange Prop- erty and the Property (as provided in Section 5 herein). Within 30 days after the Closing, as further defined herein, District shall provide to Zand a full accounting of the exchange value credits and the interim payments due from District to Zand and shall include either (i) a check payable to Zand representing any amounts remaining due to Zand in connection with the entire exchange transaction, or (ii) an invoice and bill to Zand representing any amounts due to District in connection with the entire exchange transaction. In the event Zand owes money to District, said amount shall be paid within 10 days of receipt of such notice in accordance with the provisions of Section 11.05 herein. 5. Escrow. Promptly upon execution of this Agreement, an escrow shall be opened at Founders Title Company or other title company acceptable to District and Zand ("Escrow Holder") through which the purchase and exchange of the Property shall be consummated. A fully executed copy of this Agreement shall be deposited with Escrow Holder to serve as instructions to Escrow Holder, provided that the parties shall execute such additional supplementary or customary instructions as Escrow Holder may reasonably require. This Agreement may be amended or supplemented by explicit additional instructions signed by the parties, but the printed portion of such instructions shall not supersede any inconsistent provisions contained herein. Escrow _ Holder is hereby appointed and designated to act as an escrow holder Y Agreement to Exchange Real Property - Zand Page Six and is authorized and instructed to deliver, pursuant to the terms of this Agreement, the documents and monies to be deposited into the escrow as herein provided, with the following terms and conditions to apply to said escrow: • a. The time provided for in the escrow for the close thereof shall be on or before the expiration of thirty (30) days following execution of this Agreement by District; provided, however, that the parties may, by written agreement, extend the time for Closing. The term "Closing" as used herein shall be deemed to be the date when the Escrow Holder causes the Grant Deed and other documents (as defined below) to be duly recorded in the office of the County Recorder of San Mateo County. b. Zand shall deposit into the escrow on or before the Closing an executed and recordable Grant Deed for the Property and Quitclaim Deed for the Property Interests in a form acceptable to District. c. District shall deposit into escrow on or before the Closing an executed and recordable Grant Deed for the purchase of the Exchange Property, and the required Certificate of Acceptance duly executed by District and to be dated as of the Closing for the Grant Deed and Quitclaim Deed from Zand. d. Zand shall cause Founders Title Company, or other title company acceptable to District and Zand, to be prepared and committed to deliver to District a standard coverage CLTA Policy of Title Insur- ance dated as of the Closing, insuring District in the amount of Two Hundred Eighty Thousand and No/100 Dollars ($280,000.00) for the Property and showing title to the Propertv vested in fee simple in District, subject to the exceptions enumerated in Section 2.01 here- inabove; provided however that, in the event Zand is unable to remove disapproved exceptions before the time set for the Closing, District shall have the right either (i) to terminate the escrow provided for Y Agreement to Exchange Real Property - Zand Page Seven herein (after giving written notice to Zand of such disapproved excep- tions and affording Zand at least twenty (20) days to remove such exceptions) and then Escrow Holder and Zand shall, upon District's direction, return to the parties depositing the same, all monies and documents theretofore delivered to Escrow Holder; or (ii) to close the escrow and consummate the purchase of the Property. e. District shall cause Founders Title Company, or other title company acceptable to District and Zand, to be prepared and committed to deliver to Zand a standard coverage CLTA Policy of Title Insurance dated as of the Closing, insuring Zand in the amount of Four Hundred Thousand and No/100 Dollars ($400,000.00) for the Exchange Property and showing title to the Exchange Property vested in fee simple in Zand, subject to the exceptions enumerated in Sec- tion 1 hereinabove. In the event District is unable to remove dis- approved exceptions before the time set forth for the Closing, Zand shall have the right either (i) to terminate the escrow provided for herein (after giving written notice to District of such disapproved exceptions and affording District at least twenty (20) days to remove such exceptions) and then Escrow Holder and District shall, upon Zand's direction, return to the parties depositing the same, all monies and documents theretofore delivered to Escrow Holder; or (iii) to close the escrow and consummate the purchase of the. Property. f. All costs or expenses for escrow fees, title insurance and other costs and fees associated with close of escrow shall be apportioned or allocated equally (50/50) between District and Zand. All current property taxes for the Property shall be prorated through escrow between District and Zand as of the Closing based upon the latest available tax information using the customary escrow procedures. g. Escrow Holder shall, when all required funds and instru- ments have been deposited into the escrow by the appropriate parties and when all other conditions to Closing have been fulfilled, cause the Grant Deed and other recordable documents to be recorded in the office of the County Recorder of San Mateo County, California. Upon Agreement to Exchange Real Property - Zand Page Eight the Closing, Escrow Holder shall cause to be delivered to the District and Zand originals of the policies of title insurance required herein, and to District and Zand,as the case may be, all other documents or instruments which, in accordance with the intentions of this Agree- ment, are to be delivered to them. In the event the escrow termin- ates without closing as provided herein, Escrow Holder shall return all monies, documents or other things of value deposited in the escrow to the party depositing the same. 6. Rights and Liabilities of the Parties in the Event of Termina- tion. In the event this Agreement is terminated and the escrow is cancelled for any reason, all parties shall be excused from any further obligations hereunder, except as otherwise provided herein. Upon any such termination of escrow, all parties hereto shall be jointly and severally liable to Escrow Holder for payment of its title and escrow cancellation charges (subject to rights of subroga- tion against any party whose fault may have caused such termination of escrow), and each party expressly reserves any other rights and remedies which it may have against any other party by reason of a wrongful termination or failure to close escrow. 7. Leases or Occupancy of Premises. District warrants that there exist no oral or written leases or rental agreements affecting all or any portion of the Exchange Property. Zand warrants that there exist no oral or written leases or rental agreements affecting all or any portion of the Property. Zand further warrants and agrees to hold District free and harmless and to reimburse District for any and all costs, liability, loss, damage or expense, including costs for legal services, occasioned by reason of any such lease or rental agreement of the Property being acquired by District, including but not limited to claims for relocation benefits and/or payments pur- suant to California Government Code Section 7260 et seq. Zand under- stands and agrees that the provisions of this Section shall survive the Close of Escrow and the recordation of any Grant Deed. • t t , , Agreement to Exchange Real Property - Zand Page Nine 8. Zand's Warranties. This Agreement and all other documents delivered. by Zand to District now or at the Closing have been or will be duly authorized, executed and delivered by Zand and are legal, valid and binding obligations of Zand sufficient to convey Zand's title to District, and are enforceable in accordance with their respective terms and do not violate any provisions of any agreement to which Zand is a party. 9. Waiver of Statutory Compensation. Zand and District under- stand and agree that Zand may be entitled to receive the fair market value of the Property under the Federal Uniform Relocation Assistance and Real Property Acquisition Act of 1970 (Public Law 91-646) and California Government Code Section 7267, et seq. Zand acknowledges that he is familiar with the applicable federal and California law. Zand hereby waives all existing and future rights he may have to receive the fair market valueof the Property under any applicable federal or California law. 10. Condition Precedent. As a condition precedent, the obliga- tions of Zand to sell, convey and exchange the Property, as described in said Exhibit "A" herein, to District, and the obligations of Dis- trict to sell, convey and exchange the Exchange Property, as descrived in said Exhibit "D", to Zand, are conditioned upon the acquisition by District of title to the Exchange Property as described in said Exhibit "D". 11. Miscellaneous Provisions. 11.01 Choice of Law. The internal laws of the State of California, regardless of any choice of law principles, shall govern the validity of this Agreement,the construction of its terms and the interpretation of the rights and duties of the parties. 11.02 Attorneys' Fees. If either party hereto incurs any expense, including reasonable attorneys' fees, in connection with any action or proceeding instituted by reason of any default or , t Agreement to Exchange Real Property - Zand Page Ten alleged default of the other party hereunder, the party prevailing in such action or proceeding shall be entitled to recover from the other party reasonable expenses and attorneys' fees. 11.03 Amendment and Waiver. The parties hereto may by mutual 'written agreement amend this Agreement in any respect. Any party hereto may: (i) extend the time for the performance of any of the obligations of the other party; (ii) waive any inaccuracies in representations and warranties made by the other party contained in this Agreement or in any documents delivered pursuant hereto; (iii) waive compliance by the other party with any of the covenants contained in this Agreement or the performance of any obligations of the other party; or waive the fulfillment of any condition that is precedent to the performance by such party of any of its obliga- tions under this Agreement. Any agreement on the part of any party for any amendment, extension or waiver must be in writing. 11.04 Rights Cumulative. Each and all of the various rights powers and remedies of the parties shall be considered to be cumula- tive with and in addition to any other rights, powers and remedies which the parties may have at law or in equity in the event of the breach of any ofthe terms of this Agreement. The exercise of partial exercise of any right, power or remedy shall neither constitute the exclusive election thereof nor the waiver of any other right, power or remedy available to such party. 11.05 Notices. All notices, consents, waivers or demands of any kind which either party to this Agreement may be required or may desire to serve on the other party in connection with this Agreement shall be in writing and may be delivered by personal ser- vice or sent by telegraph or cable or sent by registered or certi- fied mail, return receipt requested, with postage thereon fully prepaid. All such communications shall be addressed as follows: l• Y ♦' Agreement to Exchange Real Property - Zand Page Eleven SELLER: S. Marc Zand 50 Toyon Road Atherton, CA 94025 (415) 323-3016 DISTRICT: Midpeninsula Regional Open Space District Old Mill Office Center Building C, Suite 135 201 San Antonio Circle Mountain View, CA 94040 Attn: Herbert Grench, General Manager (415) 949-5500 cc: Stanley R. Norton, Esq. 407 Sherman Avenue Palo Alto, CA 94306 (415) 324-1366 If sent by telegraph or cable, a confirmed copy of such telegraphic or cabled notice shall promptly be sent by mail (in the manner pro- vided above) to the addressee. Service of any such communication made only by mail shall be deemed complete on the date of actual delivery as shown by the addressee's registry or certification re- ceipt or at the expiration of the third (3rd) business day after the date of mailing, whichever is earlier in time. Either party hereto may from time to time, by notice in writing served upon the other as aforesaid, designate a different mailing address or a different per- son to which such notices or demands are thereafter to be addressed or delivered. Nothing contained in this Agreement shall excuse either party from giving oral notice to the other when prompt noti- fication is appropriate, but any oral notice given shall not satisfy the requirement of written notice as provided in this Section. 11.06 Severability. If any of the provisions of this Agreement are held to be void or unenforceable by or as a result of a determination of any court of competent jurisdiction, the decision of which is binding upon the parties, the parties agree that such determination shall not result in the nullity or unenforceability of the remaining portions of this Agreement. The parties further 1 f Agreement to Exchange Real Property - Zand Page Twelve agree to replace such void or unenforceable provisions of this Agree- ment with valid and enforceable provisions which will achieve, to the extent possible, the economic, business and other purposes of the void or unenforceable provisions. • 11.07 Counterparts. This Agreement may be executed in separate counterparts, each of which shall be deemed as an original, and when executed, separately or together, shall constitute a single original instrument, effective in the same manner as if the parties had executed one and the same instrument. 11.08 Waiver. No waiver of any term, provision or condition of this Agreement, whether by conduct or otherwise, in any one or more instances, shall be deemed to be, or be construed as, a further or continuing waiver of any such term, provision or condition or as a waiver of any other term, provision or condition of this Agreement. 11.09 Entire Agreement. This Agreement is intended by the parties to be the final expression of this agreement; it embodies the entire agreement and understanding between the parties hereto; it con- stitutes a complete and exclusive statement of the terms and condi- tions thereof; and it supersedes any and all prior correspondence, conversations, negotiations, agreements or understandings relating to the same subject matter. 11.10 Time of Essence. Time is of the essence of each provision of this Agreement in which time is an element. 11.11 Survival of Covenants. All covenants of District or Zand which are expressly intended hereunder to be performed in whole or in part after the Closing, and all representations and warranties by either party to the other, shall survive the Closing and be binding upon and inure to the benefit of the respective parties hereto and their respective heirs, successors and permitted assigns. Agreement to Exchange Real Property - Zand Page Thirteen 11.12 Assignment. Except as expressly permitted herein, neither party to this Agreement shall assign its rights or obliga- tions under this Agreement to any third party without the prior written approval of the other party. 11.13 Further Documents and Acts. Each of.the parties hereto agrees to execute and deliver such further documents and per- form such other acts as may be reasonably necessary or appropriate to consummate and carry into effect the transactions described and con- templated under this Agreement. 11.14 Binding on Successors and Assigns. This Agreement and all of its terms, conditions and covenants are intended to be fully effective and binding to the extent permitted by law, on the succes- sors and permitted assigns of the parties hereto. 11.15 Captions. Captions are provided hereinfor conveni- ence only and they form no part of this Agreement and are not to serve as a basis for interpretation or construction of this Agreement, nor as evidence of the intention of the parties hereto. 11.16 Pronoun References. In this Agreement, if it be appro- priate, the use of the singular shall include the plural, and the plural shall include the singular, and the use of any gender shall include all cther genders as appropriate. 11.17 Broker's Commission. Each party agrees to and does hereby indemnify and hold the other harmless from and against any and all costs, liabilities, losses, damages, claims causes of action or proceedings which may result from any broker, agent or finder, licensed or otherwise, claiming through, under or by reason of the conduct of the indemnifying party in connection with this transaction. t Agreement to Exchange Real Property - Zand Page Fourteen 11.18 Acceptance. Provided that this Agreement is delivered to District on or before October 15,, 1986, District shall have until midnight October 23, 1986 to approve, accept and execute this Agree- ment and during said period this instrument shall constitute an irre- vocable offer by Zand to sell, exchange and convey the Property to District for the consideration and under the terms and conditions herein set forth. As consideration for the tender of said offer the District has paid and Zand acknowledges receipt of the sum of Ten and No/100 Dollars ($10.00). Provided that this Agreement is accepted and executed by District, this transaction shall close as soon as practicable in accordance with the terms and conditions set forth herein. Agreement to Exchange Real Property - Zand Page Fifteen IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized officers: MIDPENINSULA REGIONAL OPEN SPACE DISTRICT APPROVED AS TO FORM ACCEPTD FOJ RECOMMENDATION L. Cra`i• B'itton, SR A Land Acquisition Manager APPROVED AND ACCEPTED Vcz.- President, Board of Directors ATTEST w-Ait Dis rict Clerk Date tiaelLtv Qa Ig 29 SELLER obi Siavosh Marc Zan Date * * * **'*ft****.*** l * * * * . * * * * 8-25-86 * * * Issued for the sole use of: * * * * * * * * * * * * * Property Address: 1 , . , *fit * ****** ********la***ii********>1 **#*#�tt►*!rf►t►�###at 7k ii~***>t FOUflDERS TITLE compenv 1700 S. F.1 Ca^tinn Real. San Mateo. l'A 94102 Telephone: 14151 5:4-11110 • 600 Allerton St.. P.O. host' t.0., R•rltt.rxl City. CA 940•14 Telephone: 11131 ,.:3....s(, 1::: 1 Donnelly Are.. 13w•lu:_an:e. CA !1-InUI Telephone: 14131 .148-791 ✓ 2".13 59th Street. Sure. lot. Daly City CA 94013 Teleolmnt•: 1413. ;x•.1.2121 RWC-4 "A"-25 PLEASE ADDRESS ALL INQUIRES AND CORRESPONDENCE TO Shntvlire St.ttt..n. 22.1 S. Cabrillo llie tttay. State 11%;13 Matt 31.. n Bay. CA 1'U•1t) Telephone: 14131 7211-9..95 (. 3 Ei ''amine Real. San Bruno. CA 94066 Telephone: • 4131 871-4131 "I 1.47 Linda Mar Center. Pacifica. CA 9.1044 Telephone:.4151 :".33-87.... 1123 E. Flilt.-dale 131yd., Stone 105. Foster Cit'.. CA 944111 Telephone: 14131 3::: 7 s. 4 PRELIMINARY REPORT Mid Peninsula Regional Open Space District Old Mill Office Center #C135 201 San Antonio Circle Mountain View, California Our Order No. 112040 Reference When Replying Please Contact: Redwood City Office • 41 • • • • 41 • • • • • * * • * a policy of title insurance Founders Title Company hereby reports that it is prepared to issue or cause to be issued, as of the date * * * * defect, lien or encumbrance not shown or referred to as an E • * $ # * The printed Exceptions and Exclusions from the coverage of said Policy or Policies are set forth in Schedule I and Schedule ch d I 4, hereof, a Policy or Policies of Title Insurance describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any Exceptionbelow at of said * I (continued) attached. Copies of the Policy forms should be read. They are available from the office which issued this 41 * In response to the above referenced app lication for ow or not excluded from coverage pursuant to the printed Schedules Conditions and Stipulations policy Icy forms. * * * * * This report (and any supplements or amendments hereto) is issued solely for the purpose of facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If it is desired that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment should be requested. Dated as of September 16 86 19 ,at7:30A.M. FOUNDERS TITLE COMPANY / 6444 • Title Officer The form of policy of title insurance contemplated by this report is: "a California Land Title Association Standard Coverage Policy - 1973, owner's policy". * * * The estate or interest in the land hereinafter described or referred to covered by this Report is: a fee * * * * Title to said estate or interest at the date hereof is vested in: 1 3 Page of Pages a s *4 41 • * 111 =TG '039A 'REV 7:1+'83) 4 4 ►*•44444►4* * *.*4444444.4. SIAVOSH MARC ZAND, an unmarried man. 4 4 4 • s $ 4▪ 1 • • s • • $ $ 4 *.• . ,► 44XH,1BIT* w,• ► � Aaap 1 of 19 - * 3. Easement for road purposes over any portion of said land which lies * * within the roads as shown on the map. * * * * 4. Easement for the free flow of any creeks running through said lands * * as shown on the map. * * * * N1 1 �1 1 y . /�� • . 1 • y* ***** ****** ** * ***** *( ,**** **** *�*** * **t***** **.* ***********`At***•'*******' * ORDER NO. 112040 * * The land referred to in this Report is situated in the State of California, County of San Mateo • * .and is described as follows: Town of Woodside * * All those Parcels as shown on that certain Map entitled, "MAP OF PORTOLA * :HILLS SAN MATEO COUNTY, CALIFORNIA", filed for record on June 28, 1910, • * in Book 7 of Maps at Page 20, in the Office of the Recorder of the * County of -San Mateo, California, more particularly described as follows: • * * * PARCEL ONE: * * * * Lot 34 as shown on the map hereinabove referred to. * * * * * PARCEL TWO: * * * * * THAT CERTAIN tract of land marked "WATER RESERVE NO. * 2", on said map * which lies between Lots 23 and Lot 34 also certain tract of land marked * * "WATER RESERVE NO. 3", on said map which lies between Lots 33 and * * * 34. * * ALSO THAT CERTAIN tract of land shown on Map as an extension of "WATER * * RESERVE NO. 3" which lies between Lots 34 and 35 and Lot 36. Also that * * certain tract of land marked "WATER RESERVE NO. 4",on said map which * lies between Lots 33 and 36. * * * * A.P.N. 071-112-040 J.P.N. 75-11-112-4-A * * * 071-112-020 75-11-112-5-A * 071-112-050 75-11-112-2-A * At the date hereof exceptions to coverage in addition to the Exceptions and Exclusions in said policy form would be as * * follows: * * it 1. Taxes, general and special, for the fiscal year 1986&87, a lien not * * yet due or payable. * * * 2. "The lien of supplemental taxes, if any, assessed pursuant to the * .provisions of Section 75, et seq. of the Revenue and Taxation Code of * * the State of California". * * * * * 5. Provisions for the use of waters in Dennis Martin Creek contained in * * the Deed from Portola Investment Company, a corporation, to August * * Schilling, Recorded May 31, 1911, in Book 197 of Deeds at Page 455. * * * *. * * * * * 2 3 " Page of Pages / *.:_an. EXHIBIT ►•••••••••+w** ►•*• s * •r ► 41 4it ** *.►. .►ar�► �►sra��►*** FTG 1039S ,REV 7 1 631 Page 7., * l▪ et 3i4 ** �► 3 4 4 • • 4 • * •+444443 4 4 *444444*** *• 4 • * 4 *4 FO U fI D E R S TITLE COmPCMY ORDER NO. 112040 3 6. Covenants, Conditions and Restrictions, which do not contain express provisions for forfeiture or reversion of. title in the event of viola- tion, but deleting restrictions, if any, based on race, color, religion or national origin, as provided in an instrument Entitled "Deed" Executed By : Portola Investment Company, a corporation Recorded • : May 9, 1921, in Book 12, at Page 89, Official Records 7. Any Interest of the spouse of the Vestee herein and the Requirement that said spouse join in the execution of any and all Documents affect- ing said land. NOTE: Taxes, general and special, for the fiscal year 1985&86, as follows: Assessor's Parcel No.: 075-112-020 Code No. : 015-043 1st Installment 2nd Installment : NOTE: Taxes, general follows: Assessor's Parcel Code No. 1st Installment 2nd Installment No.: NOTE: Taxes, general follows: Assessor's Parcel No.: Code No. $29.95 "PAID" $29.95 "PAID" and special, 075-112-040 015-043 $194.59 "PAID" $194.59 "PAID" and special, 075-112-050 015-043 1st Installment : $24.47 "PAID" 2nd Installment : $24.47 "PAID" * * * * * * * * * * * * * for the fiscal year 1985&86, as for the fiscal year 1985&86, as * • NOTE: According to the Public Records, there have been no Deeds convey- : ing the property described in this Report recorded within a period of * six months prior to the date hereof except as follows: NONE * FWA/tml-3 * * * * * * * * * * * * * * * Page 3 of 3 P,iges * * o17C-1u4o rr77 „ , , r , • SCHEDULE I CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY -- 1973 SCHEDULE B This policy does not insure against loss or damage, nor against costs, attorneys' fees or expenses, any or all of which arise by reason of the following: Part 1 1. Taxes or assessments which are not shown, as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the public records. 2. Any facts. rights. interests or claims which are not shown by the public records but which could be ascertained by an inspection of the land or by making inquiry of persons in possession thereof. 3. Easements, liens or encumbrances. or claims thereof, which are not shown by the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area. encroachments, or any other facts which a correct survey would disclose. and which are not shown by the • public records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights. claims or title to water. whether or not the matters excepted under (a), (b), or (c) are'shown by the public records. 6. Any right, title, interest. estate or easement in land beyond the lines of the area specifically described or referred to in Schedule A, or in abutting streets. roads, avenues, alleys, lanes. ways or waterways, but nothing in this paragraph shall modify or limit the extent to which the ordinary right of an abutting owner for access to a physically open street or highway is insured by this policy. 7. Any !aw. ordinance or governmental re ! (including but not limited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions or location of any improvement now or hereafter erected on the land, or prohibiting a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part, whether or not shown by the public records at Date of Policy, or the effect of any violation of any such law, ordinance or governmental regulation, whether or not shown by the public records at Date of Policy. 8. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears in the public records. 9. Defects, liens. encumbrances, adverse claims, or other matters (a) whether or not shown by the public records at date of policy. but created, caused, suffered, assumed or agreed to by the insured claimant; (b) not shown by the public records and not otherwise excluded from coverage but known to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest insured by this policy or acquired the insured mortgage and not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became an insured hereunder: (c) resulting in no loss or damage to the insured claimant: (d) attaching or created subsequent to Date of Policy: or (e) resulting in loss or damage which would not have been sustained if the insured claimant had been a purchaser or encumbrancer for value without gu anon knowledge. AMERICAN LAND TITLE ASSOCIATION RESIDENTIAL TITLE INSURANCE POLICY -1979 EXCLUSIONS In addition to the exceptions in Schedule B. you are not insured against loss, costs, attorneys' fees and expenses resulting from: 1. Governmental police power, and the existence or violation of any law or government regulation. This includes building and zoning ordinances and also laws and regulations concerning: land use improvements on the land land division environmental protection This exclusion does not limit the zoning coverage described in Items 12 and 13 of Covered Title Risks. 2. The right to take the land by condemning it. unless a notice of taking appears in the public records on the Policy Date. 3. Title Risks: that are created, allowed, or agreed to by you that are known to you, but not to us, on the Policy Date — unless they appeared in the public records. that result in no loss to you that first affect your title after the Policy Date -- this does not limit the labor and material lien coverage in Item 8 of Covered Title Risks 4. Failure to pay value for your title. 5. Lack of a right: to any land outside the area specifically described and referred to in Item 3 of Schedule A or in streets. alleys. or waterways that touch your land. This exclusion does not limit the access coverage in Item 5 of Covered Title Risks. EMMIBA Pace of Ca" 7 T l T T t t •, f t. • 1 J T 1 • T / T • * * * * *. * * * * * .* * * * * * * * * R * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * SCHEDULE I (Continued) * AMERICAN LAND TITLE ASSOCIATION LOAN POLICY -1970 WITH A.L.T.A. ENDORSEMENT FORM 1 COVERAGE * (AMENDED 10-17-70) SCHEDULE OF EXCLUSIONS FROM COVERAGE * The following matters are expressly excluded from the coverage of this policy: * 1. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordi- nances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions or location of any improvement now or hereafter erected on the land, or prohibit- * ing a separation in ownership or a reduction in the dimensions or area of the land, or the effect of any viola- ; tion of any such law, ordinance or governmental regulation. * 2. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears in the public records at Date of Policy. 3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to * by the insured claimant; (b) not known to the Company and not shown by the public records but known to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest * insured by this policy or acquired the insured mortgage and not disclosed in writing by the insured claim- * ant to the Company prior to the date such insured claimant became an insured hereunder; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy (except to * the extent insurance is afforded herein as to any statutory lien for labor or material or to the extent * insurance is afforded herein as to assessments for street improvements under construction or completed at Date of Policy). • * 4. Unenforceability of the lien of the insured mortgage because of failure of the insured at Date of Policy or of } any subsequent owner of the indebtedness to comply with applicable "doing business" laws of the state in * which the land is situated. * * * * * AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY FORM B-1970 (AMENDED 10.17-70) SCHEDULE OF EXCLUSIONS FROM COVERAGE 1. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordi- * nances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions or location of any improvement now or hereafter erected on the land, or prohibit- * ing a separation in ownership or a reduction in the dimensions of area of the land, or the effect of any * violation of any such law, ordinance or governmental regulation. 2. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such * rights appear in the public records at Date of Policy. * 3. Defects, liens. encumbrances, adverse claims, orother matters (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company and not shown by the public records but known to * the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest by * this policy and not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became an insured hereunder; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. *. EXH B T • • • • * • • • • ♦ • • • • * • • ♦ • • ♦ • • • • • • ♦ ♦ ♦ • ♦ • • • ♦ ♦ ♦ ♦ • ♦ • • • ♦ ♦ • • ♦ • • • • • • • 1PEV7!E31 • Page * * * 4 4 4 4 4 4 5 4 1* 4 4 • 5 411 5 f • • 4 4 • 4 5 • 4 • .04 * t 4' n •R i' .r •j {. 0 v44. !lJ"V••• - -- " .404 y,.4 •/ran S 34 N 77"�.''Ja•n' • RE S E pYE No. -2 A :, Y w e ,t.. .od,od•/i �, . vr� rnn %.1.0' 4,7,1 0.1 .e — t tsdt�f � '.w� 15 MA R 11 N tS mss Sti< •e 7 t Z �� tK n $st•ec'so•e E •se �NoSA N.lr es b_ y�MM K� x�t�/IS'0�'71•r+ : �N'!f #J•r. S�•!S� nJJITf� ;•nom ��A �• cu ref 4 Ors'. 44ei NN' It;y'r • i 0 =s 2 :'.' f111J ••' K•" 11 t4-Z. RAND VIEW �Fj 41 71:4 A' /2 ri Oil le i7.1" to li M ti .r4 '�- ' � . • �`,. /J A. w �� y :4ef,,. 13 0 Jy_ 33 N � LI? • n N 004'• 31• 0 '•'. I (/4) AA t' • ,; 1 �i� r • ,`, t.r•.r7YR 7 iY PI • 1iN .4 .1 ▪ r'i ✓ ---w't •`1 PORTOLA /11 ti. NW4S 1! r r r ; t 1,04 oft A'N 71 C., 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 MITCHELL & HERZOG ATTORNEYS AT LAW 550 HAMILTON AVENUE, SUITE 326 PALO ALTO. CALIFORNIA 94301 TELEPHONE (41 S) 327.7476 Attorneys for Plaintiffs FILE AUG2 21979 lARVIN UBRCH, Coun Clerk By 6 DEPUTY. CLERL SUPERIOR COURT OF THE STATE OF CALIFORNIA COUNTY OF SAN MATEO THOMAS M. GANO, CLAUDIA J. GANO, JOHN THOMAS ROSEN- BERG, MARY JEAN ROSENBERG, ROBERT S. PROCTER and VIR- GINIA S. PROCTER, v. SIAVOSH MARC ZAND, • • Plaintiffs, Defendant. X ;1 No. 228057 JUDGMENT BY STIPULATION FOR PARTITION AND DIVISION OF LAND BY COMMON OWNERS Pursuant to oral stipulation recited in open Court, the 8th day of August, 1979, in the presence of each of the parties plaintiff and the party defendant, and theirrespective attorneys of record herein, which stipulation for judgment was agreed to in open Court by each of said parties, and good cause appearing, the Court orders the following Judgment herein upon the following Stipulated Facts: STIPULATED FACTS On June 28, 1910, in Map Book 7 at page 20, there w filed and recorded in the Office of the Recorder of the Coun- EXHIBIT_ k„ c:? VIZ 1 2 •3 LI 4 co ri 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 of San Mateo, State of California, a certain map entitled, "MAP OF PORTOLA HILLS, SAN MATEO COUNTY, CALIFORNIA", hereinafter referred to "the Portola Hills Map". On July 26, 1976, there was recorded in the Official Records of the Recorder of San Mateo County, State of Califor- nia, at Volume 7198, Page 396 to Page 400, inclusive, a certain grant deed dated July 19, 1976, pursuant to which plaintiffs and defendant, and each of them, became the record legal owners in common of certain real property, improvements thereon, and appurtenances thereto more particularly described in Exhibit "A" attached hereto and made a part hereof by reference. The real property described in said Exhibit "A" is hereinafter re- ferred to as "the Schilling Lands". Prior to July 26, 1976, for a good and valuable consideration, the plaintiffs and the defendant agreed to acquire title to the Schilling Lands in their common names, and further agreed that each would receive separate legal title at a later date to specifically identified lots, roads, and water rights shown on the Portola Hills Map, and included within the Schilling Lands. Specifically, it was agreed prior to July 26, 1976, by the plaintiffs and the defen- dant, and each of them, that the following lots, roads and water reserves would be conveyed separately to the following named persons: A. All of the real property described in Exhibit "B" hereto, made a part hereof by reference, was to be con- veyed solely to THOMAS M. GANG and CLAUDIA J. GANO, (here- [2] EXHIBIT . Page of 2. 1 2 3 4 5 6 7 •._j 8 9 10 cs-2 11 ss,a 12 ;.�.: 13 .` 14 15 16 17 18 19 20 21 22 23 24 25 26 inafter, "GANO"); B. All of the real property described in Exhibit "C" hereto, made a part hereof by reference, was to be conveyed solely to SIAVOSH MARC ZAND, (hereinafter, "ZAND"); C. All of the real property described in Exhibit "D" hereto, made a part hereof by reference, was to be conveyed solely to JOHN THOMAS ROSENBERG and MARY JEAN ROSENBERG, (here- inafter, "ROSENBERG") ; D. All of the real property described in Exhibit "E" hereto, made a part hereof by reference, was to be conveyed solely to ROBERT S. PROCTER and VIRGINIA S. PROCTER, (hereinaf- ter, "PROCTER") ; E. All of the real property described in Exhibit "F" hereto, made a part hereof by reference, was to be retained for the common investment benefit of each of the plaintiffs and defendant herein so that upon the ultimate sale or disposition thereof, GANO, ZAND, ROSENBERG and PROCTER, and each of them, would receive one-fourth (1/4) of the net proceeds thereof, and each would have the further right, upon certain circumstances, to exchange the real property received by each of them as des- cribed in Exhibits "B" through "E" hereof for one of the three lots contained in the real property described in Exhibit "F" hereof. To make such an exchange, GANO, ZAND, ROSENBERG or PROCTER would have to demonstrate that the real property re- ceived by each of them alone had no building site for a resi- dence, i.e., a site for which there can be an adequate provision [3] EXHIOIT Page L7 co wri Elf 00.4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 for disposal of sanitary sewage wastes, one which has an ade- quate domestic water supply, one which is geologically stable, one which has soil conditions acceptable for construction of a foundation for a residence of reasonable size not less than '2,000 square feet, and one for which adequate provision can be made for obtaining electrical and telephone utility services. Thereafter, and were presented to each of to be executed by each of intended further division above, with the exception elected to make a gift of on or about September 15, 1976, deeds the plaintiffs and to the defendant them to effectuate and carry out the of the Schilling Lands as described that on or about that date, PROCTER a portion of the lands to be received by him as described in Exhibit "E" to each of his children. Specifically, a deed was presented for transfer of title to Lot 19 on the Portola Hills Map to Glenn H. Procter and of Lot 9 on the Portola Hills Map to Carol L. Procter. Certain legal descriptions on the deeds presented were not exactly in accor- dance with the agreement of the parties as set forth above, and corrected deeds were presented for signature on December 12, 1976, and these deeds were in accordance with the previous oral agreement of the parties, as adjusted by the gifts by PROCTER of a lot to each of his children. On December 12, 1976, the deeds presented were not executed, because of disputes which then arose between plain- tiffs and defendant, which disputes were unrelated to and not encompassed within the completed oral agreement of the parties [4] Page 1 2 3 4 5 L1 6 • 7 8 9 13 14 15 16 17 18 19 20 21 22 23 24 25 26 as set forth above. The legal consideration paid by GANO, ZAND, ROSENBERG and PROCTER, and each of them, to date is and has been one- fourth (1/4) of the total cost of the Schilling Lands. In executing this form of Judgment, showing their concurrence herein, the plaintiffs and the defendant, and each of them, do agree that the facts set forth herein are true and correct, and that a true factual basis exists, were testimony presented herein, to support the Stipulated Facts set forth above. GOOD CAUSE APPEARING, IT IS ORDERED, ADJUDGED AND DECREED as follows: 1. Plaintiffs and defendant, and each of them, are ordered to execute and deliver for recording in proper form standard forms of Quitclaim Deeds so that the following properties are transferred and conveyed to the following per- sons: A. A deed of the property described in Exhibit "B" to THOMAS M. GANO and CLAUDIA J. GANO; B. A deed of the property described in Exhi- bit "C" to SIAVOSH MARC ZAND; C. A deed of the property described in Exhi- bit to JOHN THOMAS ROSENBERG and MARY JEAN ROSENBERG; D. A deed of the property described in Exhi- bit "E", excepting Lots 19 and 9 therefrom, to ROBERT S. PROCTER II D and VIRGINIA S. PROCTER; [5] EXHiBIii' Page 1 2 3 4 rO Q5 ',�, 6 7 8 .4' 9 10 11 •;i r2 12 r' 13 ''- 14 15 16 17 18 19 20 21 22 23 24 25 26 E. A deed of Lot 19 as described in Exhibit "E" to Glenn H. Procter; F. A deed of Lot 9 as described in Exhibit"E" to Carol L. Procter; G. A deed of Lot 10 as described on Exhibit "F" to THOMAS M. GANO and CLAUDIA J. GANO, subject to the con- ditions described in Subparagraph "J" below; H. A deed of Lot 11 as described on Exhibit "F" to SIAVOSH MARC ZAND, subject to the conditions described in Subparagraph "J" below; I. A deed of Lot 12 to JOHN THOMAS ROSENBERG and MARY JEAN ROSENBERG, subject to the conditions described in Subparagraph "J" below; J. The transfers of Lots 10, 11 and 12, re- spectively, to GANO, ZAND and ROSENBERG, set forth in Sub- paragraphs "G" through "I" above shall be made subject to the following conditions: (1) New first deeds of trust shall be executed by GANO, ZAND and ROSENBERG, respectively, and re- corded against Lots 10, 11 and 12, respectively, securing to ZAND, ROSENBERG and PROCTER, as to Lot 10, and to GANO, ROSEN- BERG and PROCTER, as to Lot 11, and to GANO, ZAND and. PROCTER, as to Lot 12, the right of each of said secured beneficiaries under said deeds of trust to receive upon the sale, exchange, assignment or transfer of any of said Lots 10, 11 and 12, one- fourth (1/4) of the net proceeds thereof. [6] EXHIBIT Page ♦ � t 1 � T 1 2 3 4 5 6 7 16 17 18 19 20 21 22 23 24 25 26 (2) In the event of the proposed sale, exchange, assignment or transfer of any of said Lots 10, 11 or 12, the owner thereof shall deliver to the beneficiaries under the aforementioned deeds of trust, and each of them, a copy of any written offers which the owner intends to accept and before his acceptance thereof. Within ten (10) days after the receipt by such beneficiaries from the owner of the property of said written offer, any of said beneficiaries may acquire the lot proposed to be sold, exchanged, assigned or transferred upon the same or any better terms than those set forth in the offer of the third party purchaser. The exercise of this right of first refusal shall be in writing, signed by the exercising beneficiary, and delivered to the record owner of the property within said ten-day period. If more than one beneficiary exercises this right of first refusal, the one who offers the highest and best bid for such lot, after each has an opportu- nity to review the other's bids, and amend their bids accord- ingly, shall be entitled to purchase the same. (3) No sale, exchange, assignment or transfer of Lots 10, 11, or 12 shall be made or entered into by the owner thereof for less than the then current fair market value of said lot, or except on an arms -length basis between said owner and the purchaser thereof. In no event shall any sale, exchange, assignment or transfer of any of said Lots 10, 11 or 12 be consummated on or before August 8, 1981, except on the prior written consent of the owner thereof and each of [7] EXHIMT Page .....7...0f.2=k • f f k f 'a grit • C2 r 1 c 1 2 3 4 5 6 7. 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 the beneficiaries under the aforementioned deed of trust against said lot. (4) No sale, exchange, assignment or transfer of any of said Lots 10, 11 or 12 shall be made by the owner thereof, subject to the deeds of trust referred to in Subparagraph (1) above. Such a sale would impair the security of said deeds of trust. (5) As to each of said Lots 10, 11, and 12, the owner of record thereof, and each of the beneficiaries under the deeds of trust described in Subparagraph (1) above agree to pay and contribute one-fourth (1/4) of all expenses associated with said lots until each lot has been sold and disposed of in accordance herewith, and the deed of trust as- sociated with each particular lot has been satisfied in full. Said expenses shall include, without limiting the generality ality of the foregoing, all property taxes and assessments, maintenance and insurance. (6) The record owner of Lots 10, 11 and 12 shall not construct any improvements on said lots, other than as reasonably necessary to maintain the same in their current condition, or subdivide or further encumber the same, except upon the prior written consent of each of the benefici- aries under the deeds of trust described in Subparagraph (1) above. (7) The title of said Lots 10, 11 and 12 hereunder shall be further subject to the rights of GANO, ZAND, [8] EXHIBIT Page co 27* ZD 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 ROSENBERG or PROCTER, respectively, to exchange all of the real property described in Exhibits "B" "C", "D", or "E", re- spectively, for one of the Lots 10, 11 or 12 in the event that GANO,.ZAND, ROSENBERG or PROCTER demonstrate on or before August 8, 1981, that the said real property originally de- signated for them alone either has no building site for a residence (a) for which adequate provision can be made for disposal of sanitary sewage wastes, (b) which has an adequate domestic water supply, (c) which is geologically unstable, (d) which has soil conditions acceptable for construction of a foundation for a residence of reasonable size, not less than 2,000 square feet, and (e) which is one for which adequate provision can be made for obtaining electrical and telephone utility services. The fact that no building permit has been issued for construction of a particular residence, without a showing that it was denied for failure of one of the five preceding conditions, shall not entitle any person to exchange lards for one of Lots 10, 11 or 12. In the event an exchange occurs hereunder of real property described in Exhibits "B", "C", "D", or "E" for any of Lots 10, 11 or 12, then the real property received in exchange for Lot 10, 11 or 12 shall be held subject to all the conditions of this Subparagraph "J". (8) A sale, exchange, assignment or transfer of said Lots 10, 11 or 12 may be made by the owner thereof in accordance herewith any time during the two-year period following August 8, 1981. Thereafter, upon the written [9] EXHIBIT ?age • Cl • 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 request of any of the beneficiaries under one of the deeds of trust described in Subparagraph (1) hereof, the owner of said Lots 10, 11 or 12 receiving such request shall make all reason- able and necessary efforts in good faith to sell, exchange, assign or transfer the lot so owned by him in accordance with the provisions and conditions of this Subparagraph "J". (9) The burdens and benefits of transfers of Lots 10, 11 and 12 in accordance with Subparagraphs "G", "H" and "I" hereof, and the conditions thereto set forth in Sub- paragraphs (1) through (8), inclusive, of this Subparagraph "J", shall be binding upon and inure to the heirs, representa- tives, successors and assigns of GANO, ZAND, ROSENBERG and PROCTER, and each of them. 2. To the extent that GANO, ZAND, ROSENBERG and PROCTER, by virtue of their 1976 purchase of the Schilling Lands, received any rights of way for ingress and egress or easement rights in, on or to that certain road designated "Dennis Martin Road" on the Portola Hills Map, then such rights hereby are partitioned and divided equally between them, and each of them, and to and between Glenn H. Procter and Carol L. Procter, and the heirs, representatives, successors and assigns of each of them, on a non-exclusive basis. Notwithstanding the foregoing, none of the foregoing persons to whom such non- exclusive rights, if any, have been equally partitioned and divided, shall operate any motorcycle or motorized vehicle along Dennis Martin Road except: (10] EXHIBIT Page H of r • CI • la lb lc Ctiq�` 3 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 A. PROCTER, Glenn H. Procter and Carol L. Procter, and each of them, their heirs, successors and assigns, may operate motorized vehicles along portions of Dennis Martin Road contiguous to a boundary of properties owned by them, or some of them, to provide access thereto, which rights shall be appurtenant to such properties. B. Within an area inside the gate currently at the intersection of said Dennis Martin Road and the County road shown on the Portola Hills Map, which may be used by said persons to have access to a parking area to be designated by PROCTER for parking of vehicles inside said gate and off the said County road. Said County road is now commonly designated "Old LaHonda Road". 3. • Except for the express limitation of operation of motorcycles and motorized vehicles by the persons named in the preceding paragraph, nothing in this judgment is intended to abridge, deny or take away from any person any rights, re- corded or unrecorded, which such persons have or may have, or whether prescriptive, by implication, by operation of law, by grant or otherwise, in, to or appurtaining to the use, enjoy- ment, ownership, of the properties and lands received by them in accordance herewith. 4. To the extent that GANO, ZAND, ROSENBERG and PROCTER, by virtue of their 1976 purchase of Schilling Lands, received any right of way for ingress and egress or easement rights in, on or to that certain portion of road designated "Espinosa Road" on the Portola Hills Map, where it lies ad- jacent to Lot 23, Water Reserve No. 2, Lot 34, Water Reserve No. 3, Lot 33 and Lot B, as designated [11] EXHIBIT Pane 1/ of _ t ' r r 1 5 6 7 • 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 on said Portola Hills Map, then such rights hereby are parti- tioned and divided equally between them and each of them, and to and between Glenn H. Procter and Carol L. Procter, and the heirs, representatives, successors and assigns of each of them, 'on a non-exclusive basis. 5. PROCTER shall execute in a form satisfactory to counsel of record herein for plaintiffs and defendant a form of Indemnification and Hold Harmless Agreement holding ZAND harm- less of and from any liability for gift taxes due any govern- mental body, including, without limitation, the United States of America and the State of California, by reason of ZAND'S execution of the quitclaim deeds he was ordered to execute hereunder to Glenn H. Procter and Carol L. Procter. 6. To the extent that ZAND, by virtue of his becoming record legal owner of Water Reserve No. 3, designated on the Portola Hills Map, acquires the right to take and use certain water flowing naturally from a year-round spring now located within said Water Reserve, said right to take and use said water hereby is partitioned and divided one-half (1/2) thereof to ZAND and one-half (1/2) thereof to GANO, said half interests, if any, to be appurtenant to Lots 34 and B, as shown on the Portola Hills Map. To the extent the taking and use of said water by ZAND and GANO does not interfere with any rights of other persons, not bound by this judgment, said taking may be for domestic water supply or other purposes, whether or not alternative sources and supplies of water are available for [12] trial i; III Page 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 such purposes. 7. Except as otherwise expressly provided herein, the persons who receive title to Water Reserves No. 1, 2, 3, 4, 5, 6, and 7, as designated on the Portola Hills Map, shall not obstruct the free flow of water or divert the flow of said water within said water reserves to the loss or detriment of any downslope owner of property covered by this judgment. Notwithstanding the foregoing, an owner of any of such water reserves may construct such improvements as are reasonably necessary to avoid floods, erosion and the free and unobstructed flow of water therein. 8. For a period of fifteen (15) years after the date of this judgment, PROCTER may not transfer or assign title to Water Reserves No. 5, 6, or 7, except in conjunction with a sale of Lots 8, 9, 13, or 19, without GANO'S prior written consent. GANO'S consent shall not be required unless he is then living and is then record legal owner of Lot B. GANO'S right of consent shall not be transferable, and shall not be withheld unreasonably. Except as to obtaining GANO'S prior consent, as set out above, nothing herein shall prevent PROCTER from making a gift to any person, firm or corporation, or other entity, of all or some of said water reserves. PROCTER, as. owner of Water Reserves No. 5, 6, and 7, as designated on the Portola Hills Map, shall be personally obligated to pay to ZAND one-half (1/2) of the net legal consideration paid or delivered to PROCTER by any transferee for consideration of any interest [13] EXHIBIT Page J3of ved CO • 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 in Water Reserves No. 5, 6, or 7. Said obligation shall be secured by a new first deed of trust to be executed by PROCTER as Trustors, for ZAND, as beneficiary, to be a lien against said Water Reserves No. 5, 6, and 7. ZAND agrees to execute a full Or partial reconveyance of the lien of said deed of trust in the event of any sale, exchange, assignment or transfer by PROCTER of any interest in said water reserves, so that the transferee of said interest receives title unencumbered thereby. In computing the net legal consideration received by PROCTER from said trans- feree, there shall be deducted from the gross proceeds received each of the following: A. All expenses of sale or transfer; B. All property taxes and assessments paid at any time by PROCTER on the water reserves so sold, exchanged, assigned or transferred; C. All costs and expenses of any type or nature incurred by PROCTER at any time and directly attributable to the water reserve, or interest therein, so sold, exchanged, assigned or transferred, including, without limitation, all maintenance thereof, insurance thereon and improvements thereto; and D. All costs and expenses incurred by PROCTER at any time improving and maintaining that portion of Dennis Martin Road which lies between the intersection of Dennis Martin Road and Water Reserve No. 5 and the intersection of the County road (now "Old LaHonda Road") and said Dennis Martin [14] . f t • .4- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Road, as designated on the Portola Hills Map. The foregoing right.of ZAND to receive one-half (1/2) of the net legal consideration paid or delivered to PROCTER is a personal right of ZAND, only, exercisable by him only if at the time said water rights are transferred, ZAND then is the record owner of all or a part of Lot 34 as shown on the Portola Hills Map, and ZAND is then living. The rights of ZAND are not transferable by gift, bequest or devise, and shall not inure to the benefit of any of the heirs, successors or assigns of ZAND. In the event PROCTER proposes to sell, ex- change, assign or transfer any of said Water Reserves No. 5, 6, or 7, to any third party who will transfer or pay to PROCTER a legal consideration therefor, then PROCTER shall notify ZAND, GANO and ROSENBERG, in writing, of said proposed transfer and the terms thereof. Within ten (10) days after receipt of said notice, ZAND, GANO or ROSENBERG may elect, in writing, deli- vered to PROCTER, to acquire title to said water reserve or water reserves, on the same or better terms as those set forth in the notice delivered by PROCTER. If said first right of refusal is exercised by one or more such persons, then the water reserves proposed to be transferred by PROCTER to the third party shall be transferred to the highest and best bidder among the persons exercising the rights of first refusal, after such persons have had reasonable opportunities to see each other's bids and amend their bids accordingly. The obligations of PROCTER under this paragraph with respect to said Water Reserves [15] EXHIBIT Page o 1 2 8 9 • 10 f : 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 No. 5, 6 and 7 shall be binding upon any child of PROCTER who becomes the owner of any of said water reserves, but shall not be binding upon any other person, firm, corporation or entity who becomes the owner of any of said water reserves, by any • means, who shall take title thereto free and clear of such obligations. The rights of first refusal set forth above shall not be operative in connection with any gift by PROCTER of said water reserves to any person, firm, corporation or entity, ex- cept his children. 9. If for any reason the division of land and the lots designated on Portola Hills Map comprising the "Schilling Lands" is or are declared to be invalid and not legal lots and divisions for any reason, the then owners of the real property which is the subject of this judgment shall take such steps as are reasonably available to them to implement by subdivision or other available methods a plan for partitioning and dividing the Schilling Lands in substantial conformity to the partition, division and creation of rights set forth in this judgment, so that each receives substantially the total land and rights ordered herein, whether or not the particular lots within the lands received by each are created in said subdivision or other process. The costs of said subdivision or other process shall be shared one-fourth (1/4) each by GANO, ZAND, ROSENBERG and PROCTER, if they are then owners of the land, and if they are not, then the one-fourth (1/4) of said costs which each would have paid shall be shared among the [16] BIZ Page le.:0 J .1166.4 • 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Dated: August 12 , 1979 successors and assigns of each of them. 10. Except as expressly limited or otherwise provi- ded herein, the benefits, rights and obligations imposed by this judgment shall inure to the benefit of and be binding upon • the heirs, representatives, successors and assigns of each of the plaintiffs and defendant herein. For this purpose, Glenn H. Procter and Carol L. Procter are deemed to be assigns of ROBERT S. PROCTER and VIRGINIA S. PROCTER. 11. The parties hereto are ordered to execute, deliver and record such further documents and instruments as are reasonably necessary to carry out the terms of this judg- ment. 12. Plaintiffs and the Defendant shall each pay his and her own attorneys' fees and.costs herein, and neither shall recover the same from the other. Upon the filing of this judg- ment, all matters set forth in the complaint, cross -complaint and other pleadings herein shall be deemed to have merged into and be controlled by the terms of this judgment. 13. By executing their separate concurrences in this judgment, the plaintiffs and the defendant, and each of them, do waive notice of entry of judgment, right to move for a new trial, the right to further findings of fact and conclusions of law, and the right to appeal herefrom.r-'---' f JUDGE 0 ` 'THE SUP RIOT- COU ► [17] EX11513iT a , Pagc / % Qf, kb k 1 2 3 4 5 6 7 8 9 10 11 ;13 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 The undersigned concur in the foregoing judgment as to its form and content, and agree to abide by all of the provisions there - f THOMAS M. GANO CLAULSIA S. /GANO��, VIRGi IA S. PROCTER Approved as to form: STATE OF CALIFORNIA COUNTYOi�:IANhAr o s�. i. MAjW!N CHURCH. Cat.:ity Clerk of the abOve ent+ cci i... Coutity, r and c?C• f o u'��,�� Clerk of !+ic Scipzri::r (.:C 11:•l "-.ecn. oA, do h: t b caiti.fY trit the It rego:nit is a full, true ai.. s of the t correct. copy a G::L�':::iL� ��il file If! rr:j/ ;1;•�(;:?, aria-. that. 1 Iiave curets iiy comi.,:-rv.1 clic same t•:zth :::E or in.:L'_. 1 Witneba my band ar-d. seat of soill Superior Co '-. i. L1:is 1� dry •)f 1 ./.2:,......... ..., j,' ,%`.r ,. I9 7 _t'C s t ' it - C'cuu:t!y C;trk snd i-Qf4e.o Clerk, tier_:,: Court [ ]J8 gy h , f.. / ..1,,:_.-- , Let --.2.---•-- 1 ..:.�.:�.� 1.)cpl:ty Clark I dant AAAAU ,Ar4-04415 S-IAVOSH MARC ZA1�TD MITCHELL & HERZOG By: AW( KENT MIT HELL Attorneys for Plaintiffs LARRY LE I Z ER Attorney for Defendants X14 120 � 1 /•• ! 1 . - kzt • • z,. • ("Schilling Lands") That certain real property and improvements thereon located in the Town oC Woodside, County of San Mateo, State of California, more particularly described as follows: Lots numbered 4, S, 8, 9, 10, 11, 12, 13, 19. 34 and lot lettered D. Also water reserves No. 1 and the extension thereof between lots 7 and 8 and water reserve number 2, 3. 4. 5. 6 and 7. Also that certain parcel of land lying Northeasterly of lot 4 and bounded on the North, t•:cst and South by Espinosa Road and on the East by the County Road. Also that certain parcel of lnr.d lying between the Southeasterly boundary line of lots 9 and 13 and the Northwesterly boundary line of Dennis Martin Road. Also that certain parcel of land lying between the Northwesterly boundary line of lots 10 and 12 and the South- easterly line of Dennis Martin Road. • Also that certain triangular g parcel of land lying cart of lot 4, which is bounded on the Easterly tide by the. Westerly line of the County road and on the Northwesterly and South- wentcrly sides by the Southeasterly and Northwesterly line of Espinosa Road. Air* that certain parcel of land harked 'C:tpinosa Road", which runs from a point in the westerly line of the County Road, bctt.'cen lots 'A" and 3 to a line in said Espinoza • Rond, which is the e.::tension of the dividing line betwPr`n lots 9 and 14, extended in a Northeasterly direction across said Espinosa Road. Alno all that portion of Preston Road, which runs fron a point between water reserve No. 1 to where it intersects Espinosa Road, between lots 5 and 0. All as shown on that certain rap entitled 'MAP OF PORTOLA HILLS SAN MATEO COUNTY, CALTFO7::Ir1", which map was filed in tho office of the Recorder of the County of San Mateo, State of California on June 20, 1910 in Dook 7 of Maps at page 20. EXEHFJ1T .� 414.4 .:2 9 r '- 10 11 1 3 4 5 6 7 8 X12 13 14 15 16 17 18 19 20 21 22 ?3 24 25 2e. c r 1 • • f EXHIBIT 'B'" (GANO) That certain real property and improvements thereon 1 oc•.i t.nd in the Town of Woodside, County of San Mateo, State of California, more particularly described as follows: Lot lettered "B". All as shown on that certain map entitled "MAP OF PORTnrj HILLS SAN MATEO COUNT, CALIFORNIA", which map was filed in the office of the Recorder of the County of San Mateo, State of California on June 28, 1910 in Book 7 of Maps at page 20. EXHIBIT " Lei EX H U.rf Page - r , veil A w ' •f: • f 5, 6 .7 .8 9 10 11 12 13 14 15 16 17 18. 19 20 21 22 -23 24 25 26 1 EXHIBIT "Cu (ZAND) That certain real property and improvements thereon 1 oco t r -d in the Town of Woodside, County of San Mateo, State of California, more particularly described as follows: Lot number 34. Also water reserves Nos. 2, 3 and 4. All as shown on that certain map entitled "MAP OF PORTOLA HILLS SAN MATFO COUNTY, CALIFORNIA", which map was filed in the office of the Recorder of the County of San Mateo,._ State of California on June 28, 1910 in Book 7 of Maps at page 20. XHFT •`C•, E 6d Bg Page 21Jc...it* 1 2 3 d w e • l Y•:1 • 11 _' 12 ;13 -14 15 '16. 17 18. 19 20 21 22 23- 24 25 26 EXHIBIT "D" (ROSENBERG) That certain real property and improvements thereon locates in the Town of Woodside, County of San Mateo, State of California, more particularly described as follows: Lots numbered 4 and 5. Also water reserve No. 1 excepting therefrom the extension thereof between Lots 7 and 8. Also that certain parcel of land lying Northeasterly of • lot 4 _and ,bounded on the North, West and South by Espinosa Road and on the East by the County Road. Also that certain triangular parcel of land lying East of lot 4, which is bounded on the Easterly side by the Wo t•r. r I line of the County Road and on the Northwesterly and u t ti - westerly sides by the Southeasterly and Northwesterly line, of Espinosa Road. .Also that certain parcel of land marked "Espinosa Road", which runs from a point in the Westerly line of the Count:y Road, between lots "A" and 3 to a line in said Espinosa Road, which is the extension of the dividing line betwr'rn lots 9 and 14, extended in a Northeasterly direction ncrel said Espinosa Road. Also nll that portion or Preston Road, which runs frnm .� point between water reserve No. 1 to where it intersects Espinosa Road, between lots 5 and 8. A11 as- shown on that certain map entitled "MAP OF PORTCMJ HILLS SAN MATEO COUNTY, CALIFORNIA", which map was filed in t:hr office of the Recorder of the County of San Mateo, State of California on June 28, 1910 in Book 7 of Maps at page 20. EXHll3rr " EXHIBIT 3 Page 3 of � r r � t :8 13 14 15 16 17 18. 19 20 21 22 23 24 25 26 ♦ EXHIBIT "E" (PROCTER) That certain real property and improvements thereon loca:'cI in the Town of Woodside, County of San Mateo, State of California, more particularly described as follows: Lots numbered 8, 9, 13 and 19. Also the extension of water reserve No. 1 between • .lots 7 and 81 and water reserves 5, 6, and 7. Also that certain parcel of land lying between the Southeasterly boundary line of lots 9 and 13 and the 'Northwesterly boundary line of Dennis Martin Road. Also that certain parcel of land lying between the .Northwesterly boundary line of lots 10 and 12 and the Southeasterly line of Dennis Martin Road. All as shown on that certain map entitled "MAP OF PORTOT,11 HILLS SAN MATEO COUNTY, CALIFORNIA", which map was filed in the office. of the Recorder of the County of San Mateo, State of California on June 28, 1910 in Book 7 of Maps at page 20. EXFflvT it E•• E.: rr • Page ..2 o :D .2 3 4 5. 6 7 8 9 10 1] *1/ 13 14 15 '16 17 18. 19 20 21 22 23 • 24 25 26 EXHIBIT "F" (COMMON PROPERTY) That certain real property and improvements thereon located in the Town of Woodside, County of San Mateo, State of California, more particularly described as follows: Lots numbered 10; 11 and 12. 'All as_shown on'that certain map entitled "MAP OF PORTOLA HILLS SAN MATEO COUNTY, CALIFORNIA", which map was filed in the office of the Recorder of the County of San Mateo, Stal.r' of California on June 28, 1910 in Book 7 of Maps at page 20. EXHBT " 10 DESCRIPTION The land herein referred to .is situated in the State of California, County of San I4ateo, and is described as follows: All those parcels as shown on that certain map entitled "MAP OF PORTOLA HILLS SAN MATEO COUNTY, CALIFORNIA", filed in the office of the County Recorder of San Mateo County, State of California on June 28, 1910 in Book 7 of Maps at page 20, more particularly described as follows: PARCEL I: Lots numbered 4, 5, 8, 9, 10, 11, 12, 13, 19, 34 and lot lettered "B", as shown on the map hereinabove reffered to. PARCEL II: THAT PORTION of the strip of land marked "WATER RESERVE NO. 1" on the map hereinabove referred to which is bounded Southerly by the Northerly line of said Lots 4 and 5 and which is bounded Northerly by the Southerly line of said Lots 2 and 3 as shown on map hereinabove referred to. ALSO THAT CERTAIN portion of the Tract of land marked "WATER RESERVE NO. 1" on the map hereinabove referred to which lies between Lot 7 and Lot 8. ALSO THAT CERTAIN tract of land marked "WATER RESERVE NO. 2" on said nap which lies between Lot 23 and Lot 34 also certain tract of land marked "WATER RESERVE NO. 3" on said map which lies between Lots .3 and 34. ALSO THAT CERTAIN tract of land shown on Map as an extension of "WATER RESERVE NO. 3" which lies between Lots 34 and 35 and Lot 36. Also that certain tract of land marked "WATER RESERVE NO. 4" on said nap which lies. between Lots 33 and 36, and Water Reserve No. 5 which lies between Lots 25, 30 and 26. Also that certain tract of land marked "WATER RESERVE NO. 6" on said map which lies between Lots 39 and 44 and Lots 40 and 43. Also that certain tract of land marked "WATER RESERVE NO. 7" on said map which lies between Lots 20 and 26. PARCEL III: THAT CERTAIN parcel of land which is bounded by a line common at the oint of intersection of the Southerly line of Espinosa Road with the Westerly line of the County Road said point of commencement being also the Easterly corner of said parcel of land; running thence Westerly on and along said Southerly line of Espinosa Road to an angle in said road; thence South- westerly on and along the Southeasterly line of said Espinosa Road to another angle therein; thence Southeasterly on and along the Northeasterly line of said Espinosa Road to the point where said last mentioned line Continued Page / 7471E7 EXHIBIT l„ meets or intersects the Westerly line of the said County Road and thence Northeasterly on and along the Northwesterly line of said County Road to the said point of commencement, the same being the parcel of land which is bounded on three sides thereof by Espinosa Road and on the other side thereof by the County Road. ALSO THAT CERTAIN triangular parcel of land which is bounded on the Easterly side thereof by the Westerly line of the aforesaid County Road and on the other two sides thereof by the said Espinosa Road, as shown on the map hereinabove referred to. PARCEL IV: THAT CERTAIN parcel of land lying between the Southeasterly boundary line of Lots 9 and 13 and the Northwesterly boundary line of Dennis Martin Road; also that certain parcel of land lying between the Northwesterly boundary line of Lots 10 and 12 and the Southeasterly line of Dennis Martin Road, as shown on the map hereinabove referred to. PARCEL V: THAT TRACT of land marked "PRESTON ROAD" on said map which road runs from a point between Lots 1 and 6 to a point where it intersects the Espinosa Road between Lots 5 and 8. ALSO THE POINT of that certain tract of land marked "ESPINOSA ROAD" on said map which runs from a point in the County Road between Lots A and 3 to a line in said Espinosa Road which is the extension of the dividing line between Lots 9 and 14 in said tract extended in a Northeasterly direction across said Espinosa Road. AP.075-112-020 075-112-040 075-112-050 075-123-030 075-134-100 075-134-190 075-134-200 075-140-030 075-140-040 075-151-010 075-212-090 075-220-040 075-220-050 075-220-080 JPN 075 075 075 075 075 075 075 075 075 075 075 075 075 075 075 075 075 11 112 02 11 112 04 11 112 05 13 131 01 13 131 02 13 132 01 13 132 02 13 133 01 13 134 100 13 134 110 14 140 03 14 140 04 15 151 01 21 212 09 22 220 04 22 220 05 ?2 22e 08 EXHIBIT C, Page e1 * *4 ...it *'* * * * * * * * * ****, *****tk***** * *Aril**fir***i` I ********'************** * * * fOUflDERs TITLE 7. 171x1 S. El Camino Real. San Mateo. CA 9-I ur.! Telephone: 1113) 374.11156 two Aticrton St.. P.O. Dec -1' f:. 1 nx1 City. CA 94nr. 1 Telephone: 1413t 3.13.v .St ► 121•l Donnelly Mt... Borlin_ante. C.\ 94t11!, Telephone: 14131 34S-7991 E. .!.3 Slilh Street. Suite 1(.1. t)..1) 1'itp. CA 94015 Telephone: 1413i 994 _t'=1 9-17-86 RWC-3 "A"-1 Issued for the sole use of: commv PLEASE ADDRESS ALL INQUIRES AND CORRESPONDENCE TO NIu.retiine Sr:tti•a1. s Cabrillo Soae 11'111 llalf )morn Ray. ('A'•t'r19 Tel.•phnne7 1 In:.t 7:.'1'.-91.93 1.•:. El Cami::.. 11...11. San Bruno. CA 94066 Telephone; 11131 '47t.4131 1::17 Linda 51n 1'.•r:n r, P.i. if:ca. ('A 9.444 1••G;.hnne: .11:.t :*..".5.s7. I 1 l.:► K tfilt.•rhle 111‘.1. Sue.: 1.6. Fo•1er Cil+. ('A 9441.4 Telephone: 1 11:.. :.731 7SS4 PRELIMINARY REPORT Mid Peninsula Regional Open Space District Old Mill Office Center 201 San Antonio Center #C135 Mountain. View, CA 94040 Attention: C. Britton Property Address: Our Order No. 619755 2nd Run —to —Date Reference When Replying Please Contact: Redwood City Office In response to the above referenced application for a policy of title insurance, Founders Title Company hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof, a Policy or Policies of Title Insurance describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any defect, lien or encumbrance not shown or referred to as an Exception below or not excluded from coverage pursuant to the printed Schedules, Conditions and Stipulations of said policy forms. • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • * The printed Exceptions and Exclusions from the coverage of said Policy or Policies are set forth in Schedule 1 and Schedule • * I (continued) attached. Copies of the Policy forms should be read. They are available from the office which issued this • s. report. * * • This report (and any supplements or amendments hereto) is issued solely for the purpose of facilitating the issuance of a • • policy of title insurance and no liability is assumed hereby. If it is desired that liability be assumed prior to the issuance of a • policy of title insurance, a Binder or Commitment should be requested. Dated as of September 22 , 19 86, at 7:30 A.M. • • • di 41 • Title Officer • • • • • • • • • • • • • • III, IV AND VI Title to said estate or interest at the date hereof is vested in: • PARVIZ KAMANGER, who acquired Title as a single man, by Deed recorded March 2, 1979, as to PARCELs I, II, III and IV and by Deed recorded July 5, 1979, as to PARCELS V and VI and • FOUNDERS TITLE COMPANY The form of policy of title insurance contemplated by this report is: "a. California Land Title Association Standard Coverage Policy - 1973, owner's policy". The estate or interest in the land hereinafter described or referred to covered by this Report is: FEE AS TO PARCELS I, V AND VII; EASEMENT AS TO PARCELS II, • WILBY EQUIPMENT, LTD., a Canadian corporation, by Deed recorded July __ 1978, as to PARCEL VII. Page 1 of 15 Pages • • • • * • • 4t• 4 * 4F 41 4► 4f 4c 4c * 4► 441 4) # 41 4► # * 4R 4+ 4 # * 4F 4F 4► 4► * 4► 441 4► 4 ♦ 41 41 4► 4+ 41 4► 4E 4► 4r FTG 1039A (REV 7r1i83) • * * 131T Page of The land referred to in this Report is situated in the State of California, County of San Mateo • * and is described as follows: Town of Woodside • * • • • * # 11, See EXHIBIT "A" 4 * * # 41 • • • * # * * * # ► # f * # * # • * # * # * • # * # * # # * # At the date hereof exceptions to coverage in addition to the Exceptions and Exclusions in said policy .form would be as # • * follows: # • 1. Taxes, general and special, for the fiscalyear 1986&87, a lien n # ie not # * yet due or payable. # # • 2. Tax Sale to State of California, as follows: * # For the fiscal year 1981&82, and subsequent delinquencies, + • * Assessor's Parcel No. : 075-070-040 Amount to Redeem $16,513.35 * Prior to : October 31, 1986 # Sale No. : 6769 .***********,i***** **s. a**********************. *********************** *. * # * f • ORDER NO. 619755 # * 2nd Run -to -Date * . * * • * * # * # * # * # * # * # * # * # * # * # * 2 15 # Page of Pages FTG 10398 tREV 7'1'831 * Affects portion of PARCEL I. # # Pale iLoT% 4t4444.4.444.4•4444444444• 444 .... FOUnDERS TITLE comPanv ORDER NO. . 619755 2nd Run -to -Date •" 3. Tax Sale to State of California, as follows: *. For the fiscal year 1981&82, and subsequent delinquencies, Assessor's Parcel No. : 075-060-140 * * * * * * * * * * * * * �► • Affects PARCEL V. Amount to Redeem Prior to Sale No. : $8,293.51 : October 31, 1986 : 6764 Affects portion of PARCEL I. 4. Tax Sale to State of California, as follows: For the fiscal year 1981&82, and subsequent delinquencies, Assessor's Parcel No. : 075-060-160 Amount to Redeem Prior to Sale No. : $8,293.51 : October 31, 1986 : 6765 Affects portion of PARCEL I. * * * * * * * * * * * * * * * * * * * * 7. "The lien of supplemental taxes, if any, assessed * provisions of Section 75, et seq. of the Revenue and * the State of California". 5. Tax Sale to -State of California, as follows: For the fiscal year 1981&82, and subsequent delinquencies, Assessor's Parcel No. Amount to Redeem Prior to Sale No. : 075-070-020 : $1,306.63 : October 31, 1986 : 6768 6. Tax Sale to State of California, as follows: For the fiscal year 1981&82, and subsequent delinquencies, Assessor's Parcel No. : 075-060-110 Amount to Redeem Prior to Sale No. Affects PARCEL VII. : $115.83 : October 31, 1986 : 6 763 pursuant to the, Taxation Code of * * * * * * * * * * * . . OE C-1U1U 4444.. . . . . . ... Page__ of 15 Pages . ... 4444...... . . . 4 . . * V. ** 101'66*S*7.-3'17771r ." 4,4444* * • • • • * 44 s 4•a 41 4 4 4 4 f •4 *• FOUIlDERS TITLE Company . . *4* ORDER NO. 619755 2nd Run -to -Date 8. Easement for road purposes, over portion of the herein described property included within roads, as shown on the Map hereinafter mentioned and referred to in the description. 9. Free and natural flow of the waters of the Alembique Creek, over a portion of the herein described property as shown upon the recorded Map. 10. Possible easements for all water pipes to convey water from Alembique Creek to neighboring lands, as disclosed by various matters of record. 11. Reservations as reserved in the Deed executed by James Athearn Folger and Peter Folger, as Trustees of the Trusts under the Will of Clara E. L. Folger, also known as Clara Eugenia Folger, deceased, and Sarah Evelyn Donohoe, James Athearn Folger and Peter Folger to Oretta D. Carlson, a widow, recorded August 23, 1951 in Book 2118, at Page 459, Official Records. 12. Right of Way for Public Utilities and incidental purposes, as contained in the Deed executed by Edith Parks Cunningham, as Guardian of The Estate of Wesley Parks Cunningham, also known as Parks John Cunningham, and Parks Cunningham, an incompetent person, to Oretta D. Carlson, recorded August 23, 1951, in Book 2118, at Page 464, Official Records. 13. An easement affecting that portion of said land and for the purposes stated herein and incidental purposes as provided in the following: Instrument Granted to For Recorded Affects : Deed : Pacific Gas and Electric Company and The Pacific Telephone and Telegraph Company, California corporations Public Utilities : January 18, 1955, in Book 2724, at Page 558, Official Records : PARCEL VII * Page 11 • ♦ * • • • • s a • ♦ * ♦ • ♦ • ♦ • ♦, .♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ • • +► ♦ ♦ ♦ ♦ • • ♦ • • a ♦ s 41 • ♦ M . * * 4 4 • Itik O f a l• • 4 15 Pages OFC-10.10 EXHIBIT 11) ' S ' ' ' r /2111 V.,11 4, *• ***'**** 3►•*di�►�►4*4 •> • • • • • •• • •4 • 4, ***4 ii•* • •• 41******•***4**•.*MGM***** * * •# * * * * , FOUi1DERS TITLE COMPCMY * • * * * * *•* * ORDER NO. 619755 2nd Run -to -Date * * * * * * 14. A Waiver of Claims for damages, as contained in the Deed executed by * Richard M. Carlson, a married man and Oretta D. Carlson, a widow to the * * State of California recorded July 14, 1955, in Book 2837, at Page 128, Official Records. * * * * * Affects PARCEL I. - * * * * 15. Easement for Public Utilities, together with the right of ingress * * and egress thereto, as contained in the Deed executed by San Mateo * County Title Company, p y, a corporation, Herbert T. Ellis and Merelyn Ellis,.* * his wife, Richard M. Carlson and Venis Carlson, his wife, to Kay K. * Strauss and Berdine H. Strauss, his wife, 'as Joint Tenants, recorded * * August 19, 1955, in Book 2860, at Page 744, Cfficial Records. * * * * * * Affects PARCEL I. * * * * 16. Easement for Public Utilities, together with the right of ingress and egress thereto, as contained in the Deed executed by San Mateo * * County Title Company, a corporation, to Kay K. Strauss and Berdine H. * Strauss,, his wife, recorded September 26, 1955, in Book 2882, at Page * 456, Official Records. *• Affects PARCEL I. * * * 17. Easement for Public Utilities and incidental purposes, as contained * * in the Deed executed by San Mateo County Title Company, a corporation, * * to Richard M. Carlson and Venis Carlson, his wife, recorded November 17, * * 1955, in Book 2917, at Page 712, Official Records. * * * * Affects PARCEL I. * * * * * 18. Easement for utilities, together with the right of ingress and * egress thereto, as contained in the Deed executed by Oretta D. Carlson a * * widow and Richard M. Carlson, her son, to Richard H. Taylor and Alice * Jean Taylor, his wife, recorded May 8, 1956, in Book 3020, at Page 192, * * Official Records. * * * * Affects PARCEL I. * * * * * * 19. Easement for Public Utilities, together with the right of ingress * and egress thereto, as contained in the Deed executed by Oretta D. * * Carlson, a widow, to Richard M. Carlson and Venis Carlson, his wife, as * * Joint Tenants, recorded November 17, 1959, in Book 3706, at Page 748, * * Official Records. * * * * Affects PARCEL I. * * Page_ * * * * * * C 15,. dyes EXHIBIT 1 .44444.4.444 • 4 a 4 • • 4 4 • • 4 4 4 4 4 4 4 • • • 4 • • • 4 4 • 4 • • 4 • • • • • • • • • • • • g+e* iF OFT -1040 —" 4.4 44444¥404►4 4411** •4** 4", 444*• 444**4 4 • *♦****44 * %1'1 �♦ . 4444444444444444 4.44 * * * 4 * • F• " FOUI1DERS TITLE COmPCMY *„* ORDER NO. 619755 2nd Run -to -Date 20. Easement for Public Utilities and incidental purposes, together with the right of ingress and egress thereto, as contained in the Deed executed by San Mateo •County Title Company, a corporation, to Pacific Gas and Electric Company, a California corporation, recorded March 20, 1961, in Book 3952, at Page 745, Official Records. Affects PARCEL I. 21. Easement for Public Utilities and incidental purposes, as contained in the Deed executed by San Mateo County Title Company, a corporation, to Pacific Gas and Electric Company and The Pacific Telephone and Telegraph Company, California corporations, recorded March 29, 1961, in Book 3958, at Page 44, Official Records. Affects PARCEL I. 22. Easement for ingress and egress, as contained in the Deed executed by Oretta D. Carlson, a widow, to Richard M. Carlson and Venis Carlson, his wife, as Joint Tenants, recorded February 27, 1964, in Book 4655, at Page 284, Official Records. 23. A perpetual and assignable easement and right of way 100 feet in width for the location, construction and operation of electric trans- mission lines consisting of one or more lines of poles and towers over a portion of said land, as taken by United States of America in the Declaration of Taking, recorded May 6, 1964, Book 4705, Page 262, Official Records. Said Declaration has been amended by instrument recorded October 13, 1965, in Book 5043, Page 387, Official Records. Affects PARCELS I and VI. 24. Deed of Trust to secure an indebtedness of the amount stated below and any other amounts payable under the terms thereof, Amount Trustor/Borrower Trustee Beneficiary/Lender Dated Recorded Loan No. Returned to Address : $143,000.00 - Robert L. Gray and Maureen S. Gray, his wife Transamerica Title Insurance Company, a California corporation Oretta D. Carlson, a widow July 18, 1967 July 24, 1967, in Book 5339, at Page 318, Official Records Not shown Not shown Page 6 of 15 Pages • • • a • er • • • • • • • 4 • • • • • • • • • • • • • a * • +► • • • • • • • • • * • • • • • OI C-111111 EXHIBIT • • •Pa • 2• Lof► �► , * ♦( y �( yr Y y y Y llT y fl f� �t ,( y fl y fa f� r . f� y l� Y f� ,( ` f, �l �( ], y y .( �l ll �f 1 fit f[ �( l( f! y �( 4,.* * T* T T* T T T T* T* T* T 4 T T 4 4 4 4 4 i 4* 4 4 4 4* ***•* 4 4 4 4 4. r T 41 4 T T T 4 T T T T 1 4� T T T T 4 T T T * * * * * * * * * * * * 4 * * * FOUIlDERS TITLE COrnPQnY * * f * *• ** * * * ORDER NO. 619755 * .,* * 2nd Run -to -Date * * * 25. * Any Interest of the spouse of Parviz Kamangar and the Requirement * * that said spouse join in the execution of any . and all Documents affecting said land. * * * * * * 26. A Resolution of the Board of Directors of Parnas Corporation, a * * corporation, must be submitted, authorizing execution and delivery of * * the Deed•to the Vestee herein, recorded March 2, 1979, in Reel 7826, at * Image 951, Official Records_ * * * • * * Assessor's Parcel No.: 075-060-140 * Code No. : 015-018 * * * * 1st Installment : $567.93 * 2nd Installment : * $567.93 * Affects a portion of PARCEL I. * * *. * NOTE: Taxes, general and special, for the fiscal year 1985&86, as * * follows: * * * * * Assessor's Parcel No.: 075-060-160 * * Code No. : 015-018 * * * * 1st Installment : $567.93 * 2nd Installment : $567.93 * * * * * Affects a portion of PARCEL I. * * * * * * NOTE: Taxes, general and special, for the fiscal year 1985&86, as * * * follows: * * * * * Assessor's Parcel No.: 075-070-040 * * Code No. : 015-018 * * * * 1st Installment : $1,126.48 2nd Installment : $1,126.48 * * * * Affects a portion of PARCEL I. * NOTE: Taxes, general and special, for the fiscal year 1985&86, as follows: * * * * * * * * * * * * * Pagan_ ofr _P,iges _ * * • ..****•**i*:•4444* .. .**444.f#•..44K4.i4*.i***♦***4** 1 * * * * * * * * • * r* ,* * .* * * Affects PARCEL V. * * NOTE: Taxes, general follows: Assessor's Parcel No.: Code No. 1st Installment 2nd Installment +* ****'444 * * FOUnDERs TITLE company ORDER NO. 619755 2nd Run -to -Date and special, for the fiscal year 1985&86, as 075-070-020 015-018 : $93.17 : $93.17 NOTE: Taxes, general follows: Assessor's Parcel No.: Code No. 1st Installment 2nd Installment Affects PARCEL VII. and special, for the fiscal year 1985&86, 075-060-110 015-018 : $12.25 : $12.25 NOTE: According to the Pubi ing the property described six months prior to the date FWA/r a- 5 FTC -2 **+**.*4**..• tit as is Records, there have been no Deeds convey - in this Report recorded within a period of hereof except as follows: NONE Page 8 of 1 5 Pages i • 4 * 4 . . 4 4 . * f i . # * *.* * i * 4 *4***4** ,*************f********* * * * * * * * * * * * * * n * * * * * * 4 * * * * * • M i► 4¥ 4 4 4 414 4* 41 4 • **# 4* 4 4 4 4 4 4 4 X 4 4 4 3 44344 41 -V. *• 4 * 3 4 * i► ri ***** * 4 f***** 4 4 4 4 F. FO U n D E R S TITLE Company • * *4* ORDER NO. 619755 * 2nd Run -to -Date * * * * 31. EXHIBIT '"A" * * * * PARCEL I: * * * of - 1 S Pages EXHIBIT **V.*** ***444 4 4 4 4 4* 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4* 4 4 4* 4 4 4**4,4' 4** 7* !41 41 atiLQi OI'[•_ll►M * ,All that• certain real property situate in the Town of Woodside, County * * of San Mateo, State of California, and being a portion of the property * formerly of the Folger Estate, lying partly within the boundary of the * * Rancho El Corte Madera and partly within the boundary of the Rancho Canada de Raymundo, and being more particularly described as follows: * * * * * BEGINNING at the most Easterly corner of that certain 86 acre tract of * * land described in the Deed from James Athearn Folger and Peter Folger, * * as trustees to Oretta D. Carlson, a widow, dated June 19, 1951 and * recorded August 23, 1951 in Book 2118 of Official Records at Page 459 * * * (File No. 55650-J), Records of San Mateo County, California; running * * thence from said point of beginning, along the Northeasterly boundary of * said 86 acre tract, North 35° 09' 10" West 349.02 feet, North 30° 16' * 10" West 244.21 feet, North 38° 41' 10" West 456.28 feet to the South- " >. * easterly y line of lands conveyed to Richard M. Carlson, et ux, by Deed * recorded June 29, 1954 in Book 2607 of Official Records at Page 401 * (File No. 67101-L) , Records of San Mateo County, California; thence * * along the Southeasterly boundary of said last mentioned parcel, South * * 46° 30' 20" West 33.45 feet and South 61° 24' 30" West 80.30 feet to the * * Southerly corner of lands conveyed to Richard M. Carlson, et ux, by Deed ' recorded November 17, 1955 in Book 2917 of Official Records at Page 712, * * Records of San Mateo County, California; thence along the Southwesterly * * boundary thereof North S5° 42' 30" West 206.81 feet; thence North 8° 50' * * * East 164.00 feet and North 21° 06' 50" West 9.56 feet to the Southerly * line of lands described in the Deed to San Mateo County Title Company, a * * corporation, recorded May 26, 1954 in Book 2588 of Official Records at * * Page 612, Records of San Mateo County, California; thence along the * general Southwesterly boundary of said last mentioned parcel, South 73° * * 15' West 50.14 feet, North 35° 50' West 255.98 feet, North 81° 45' West * * * 262.00 feet and North 14° 57' 50" West 85.00 feet to the Southerly line * of lands conveyed to Edward William Schlies, et ux, by Deed recorded * * June 6, 1952 in Book 2250 of Official Records at Page 443 (File No. * * 8746-K) , Records of San Mateo County, California; thence along the Southerly boundary of said last mentioned lands, South 60° 33' 10" West * * 465.35 feet to a point in said boundary; thence North 75° 10' 50" West 93.91 feet, North 82° 01' West 162.11 feet, North 73° 28' West 75.41 * * feet, and North 41° West 53 feet,. more or less, to the Southeasterly * * boundary of California State Highway No. 107, former known as La Honda * * County Road, Route 6, Division 2; thence in a general Southwesterly direction, following the Southeasterly boundary of said last mentioned * * highway, for a distance of 2100 feet, more or less, to the Northeasterly * * * T. DF.SCRTpTTC 1 CONTINUED. * * 44, 4 4:4 4 441444'.******** *♦ . 4 4 4 4 • * 4♦ 4 4 4 4**** ► 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4'4 ♦ 4 4 4 4 4 4 4 4 4 4 * * 4 * * * * 4 * *o W': FO u n D ERS TITLE comPanv .4 * 619755 * * 2nd Run -to -Date . * * * * * PARCEL I CONTINUED. . . * * line of that certain 0.080 of an acre parcel described in the Deed to * * the State of California, recorded July 14, 1955 in Book 2837 of Official * Records at Page 128 (File No. 68336-M) , Records of San Mateo County, * California; thence along said Northeasterly line * ' Highway bearing), (using Division of * 9 y South 50° 25' 15" East 67.59 feet to the Northwesterly * line of said State Highway No. 107; thence along the general North * westerly, Northerly and Northeasterly line of said Highway, 3000 feet, * * more or less, to the Northwesterly line of lands described in the Deed * to Robert A. Grimm, et ux, recorded April 1, 1954 in Book 2560 of * * Official Records at Page 536 (File No. 46767-L), Records of San Mateo * * County, California; thence along the Northwesterly line of said last * * * mentioned parcel, North 23° 52' 40" East 400 feet, more or less, to the * most Northerly corner thereof; thence continuing along the Northeasterly * * line of said parcel, South 68° 37' 30" East 553.24 feet and South 37 * * * * 23' 10" East 201.16 feet to the Southeasterly boundary of the 86 acre * tract hereinabove first mentioned; thence along said Southeasterly boundary, North 50° 02' East 888.64 feet to the point of beginning. * * * EXCEPTING, HOWEVER, from said above described parcel, all lands or * * * interest in lands conveyed by the following: * * * * * (a) Deed from San Mateo County Title Company to Kay K. Strauss and * * Berdine H. Strauss, his wife, as Joint Tenants, dated August 19, 1955 * * * and recorded August 19, 1955 in Book 2860 of Official Records at Page * * * 742 (File No. 78997-M) , Records of San Mateo County, California. * * * (b) Deed from Oretta D. Carlson and Richard M. Carlson to Richard H. * Taylor and Alice Jean Taylor, his wife, dated May 4, 1956 and recorded * * May 8, 1956 in Book 3020 of Official Records at Page 192 (File No. * 52233-N), Records of fan Mateo County, California. s _ * * 4 ORDER NO. * (c) Deed from recorded August 2, 1961 in Book 4028 of Official Records at * Page 657 (File No. 81518-T), Records of San Mateo California. �. (d) Deed from Ore tta D. Carlson to Richard M. Carlson and Venis * Carlson, his wife, as Joint Tenants, dated February 25, 1964 and * recorded February 27, 1964 in Book 4655 of Official Records at Page 284 * (File No. 93964-w), Records of San Mateo County, California. * DESCRIPTION CONTINUED. . * * * * * * * * * * * * * * * * * * Page 10 of 5 Pages EXHUSIT *. ....................................................... * * * * * * * * 4—payeLlit ? OFC-1010 t , ft att•* * * x * * 4'4 * # 4h* * ♦ 4.4 4 • 1.4 # * 4 4;4 ;4'4 f * # * # •44 4.4'4 4441** 4 * ** f ir* * * • * * * 1r �► * FO U n] D E R S TITLE COmPanv * « * ,. 4 # ORDER NO. 619755 * * * * * PARCEL I CONTINUED. . . * (e) ALSO EXCEPTING THEREFROM that certain parcel of land described as * follows: BEGINNING at a point which bears South 89° 00' West 30.44 feet South 8° * 43' 10" West 209.22 feet and South 21° 06' 50" East 364.22 feet from a * concrete monument in the Northerly line of said Rancho marking the * Northwesterly corner of that certain 5.60 acre tract shown on record of * * survey map filed in the office of the Recorder of San Mateo County on * October 23, 1950 in Book 2 of Licensed Land Surveyors' Maps at Page 99, said point of beginning being the most Westerly corner of land described in Deed from Oretta D. Carlson et al to Richard M. Carlson and wife, dated June 28, 1954 and recorded June 29, 1954 in Book 2607 at Page 401, * Official Records of San Mateo County (67101 L); thence from said point * of beginning North 73° 15' East 50.14 feet to the Southwesterly line of land described in Deed from Herbert T. Ellis and wife to Kay K. Strauss and wife, dated and recorded August 19, 1955 in Book 2860 at Page 740, Official Records (78996 M) ; thence along said Southwesterly line South 21° 06' 50" East 9.56 feet to an angle point in said line; thence South * 8° 50' West 63.96 feet to a point in the Southwesterly line of lands described in Deed to Richard Ni. Carlson and wife before mentioned; thence North 35° 50' West along said Southwesterly line 71.13 feet to ,. the point of beginning. PARCEL II: * * An easement for water pipe and Public Utilities over a strip of land 10 * feet in width, lying contiguous to and measured at right angles Southeasterly from the following described line: * * BEGINNING at a point on the Northerly line of the Rancho El Corte Madera, distant thereon South 89° 00' hest 30.44 feet from an existing * concrete monument marking the Northwest corner of that certain 5.60 acre tract, as shown on Record of Survey Map filed in the office of the * County Recorder of San Mateo County, State of California on October 23, 1950 in Volume 2 of Licensed Land Surveyors Maps at Page 99, and running * thence South 8° 43' 10" West 340 feet, more or less, to the Northerly * line of the above described parcel. * DESCRIPTION CONTINUED. . . * * * * * * * * « * * * Page 11 of 1 5 Poge:s ************************************************.......pEXHTI:. 0 2nd Run -to -Date * 4 4 ♦ 44 4 4,♦ f 44 4444 ♦ t PARCEL II CONTINUED. . 4 4 4 4 4 4♦ 4 4 4 4 r • t ;4 4. * • • • • * * 4 ♦ ♦ * 4 ♦ • 1 44444444444,4444444 FOunDERS TITLE comPanv ORDER NO. 619755 2nd Run -to -Date 4 * ALSO an easement for ingress and egress over the following described Parcel: * BEGINNING at an existing concrete monument in the Northerly line of the Rancho El Corte Madera, marking the Northwest corner of that certain * 5.60 acre. tract, as shown on the Record of Survey Map filed in the * office of the County Recorder of San Mateo County, State of California * on October 23, 1950 in Book 2 of Licensed Land Surveyor's Maps at Page * 99; and running thence along the Northerly line of said Rancho, South 89° 00' hest 30.44 feet; thence leaving said Northerly line, South 8° * 43' 10" West 209.22 feet; thence South 21° 06' 50" East 364.22 feet; * thence North 73° 15' East 30.09 21° 358.50 feet; thence North 8° 43' 10"tEastece North 06' 50" West * 206.39 feet to the point of * •beginning. * Said easements are appurtenant to Parcel I herein and were created by reservations in Deed from Oretta D. Carlson, et al, to San Mateo County Title Company, a corporation, dated May 10, 1954 and recorded May 26, 1954 in Book 2588 of Official Records at Page 612 (File No. 59322-L), Records of San Mateo County, California. PARCEL III: An easement for ingress and egress and Public Utilities over the following described Parcel: BEGINNING at a point in the line dividing the lands of Folger and the lands of Hooper, which said line is also the Northerly line of the Rancho El Corte Madera, the patent of said Rancho being recorded in the office of the County Recorder of San Mateo County, State of California on December 21, 1858 in Book 1 of Patents at Page 20; said point being distant along the Northerly line of the Rancho El Corte Madera, South 89° 00' West 1424.17 feet from the center of a redwood tree marking on the ground the location of "Station 22" on the boundary of said Rancho El Corte Madera; thence from said point of beginning along the Northerly line of said Rancho El Corte Madera, South 89° West 45 feet; thence leaving said line, North 1° West 5 feet, more or less, to the Southerly line of the Portola Road; thence Easterly, along said Southerly line, 45 feet, more or less, to the point of beginning. Said easement is appurtenant to Parcel I and was created by Decree Quieting Title recorded May 29, 1963 in Book 4466 of Official Records at Page 608 (File No. 97877-V) , Records of San Mateo County, California. DESCRIPTION CONTINUED. . . * * * * * P :a. 12 0, 15 pages 4 4 oFC- 1010 .. 4♦ 4 4 4♦ 4 4 4 4 4 EXHIBIT 1.) .4 4. Pp9e1/7„..c;---Fir"* • lit ~ ' r '' r t r r + 4.4 4444if44‘,PL4 "4`4. * ** 4 4 4 4 4414 4 44444. 4 4 4 4444444444 #4 4444t44t•'•••444►4444444444 * * ♦ * * * * * FOu I7 D E RS TITLE COI71PUDv * * * * ORDER NO. 619755 * * 2nd Run -to -Date * ** * *. * DESCRIPTION CONTINUED. . . * * * * :PARCEL IV: * * * *. * An easement for ingress, egress and Public Utilities across a strip of * land 25 feet wide, as reserved in the Deed from San Mateo County Title * Com an g y, .a corporation to Kay K. Strauss and Berdine H. Strauss, 'his * wife, as Joint Tenants, dated August 19, 1955 and recorded August 19, * 1955 in Book 2860 of Official Records at Page 742 (File No. 78997-M) , * * * Records of San Mateo County, California, and more particularly described * as follows: * * * * BEGINNING at the most Easterly corner of the parcel described in the 4. * * above referred to Deed to Kay K. Strauss, et ux, and running thence * * along the exterior boundary thereof, Northwesterly along a curve to the * * right, with a radius of 35 feet, tangent to the succeeding course, an * * arc distance of 30.29 feet; thence North 8° 20' West 21 feet; thence * * Northwesterly along a curve to the left, with a radius of 125 feet, an * * arc distance of 103.91 feet; thence North 55° 57' 50" West 102.69 feet; * * thence Westerly along a curve to the left, with a radius of 125 feet, an * * arc distance of 69.16 feet; thence North 87° 40' West 84.69 feet; thence * Southerly along a curve to the left, with a radius of 35 feet, an arc * * distance of 85.15 feet; thence South 47° 04' 40" East 59.68 feet; thence * * Southerly along a curve to the right, with a radius of 60 feet, an arc * * distance of 93.46 feet; thence South 47° 50' East 25 feet thence * ; Northerly along a curve to the left, t, with a radius of 85 feet, tangent * to the succeeding course, an arc distance of 132.40 feet; thence North * 47° 04' 40" west 59.68 feet; thence Northerly along a curve to the * * right, with a radius of 10 feet, an arc distance of 24.33 feet; thence * South 87° 40' East 84.89 feet; thence Southeasterly along a curve to the * * right, with a radius of 100 feet, an arc distance of 55.33 feet; thence * South 55° 57' 50" East 102.69 feet; thence Southeasterly along a curve * * to the right with a radius of. 100 feet, an arc distance of 83.13 feet; * thence South 8° 20' East 21.00 feet; thence Southeasterly along a curve * * to the left with a radius of 60 feet, an arc distance of 43.70 feet; * * thence North 500 36' 30" East 25.78 feet to the point of beginning.. * * * Said easement was created by reservation in the above mentioned Deed to * Kay K. Strauss, et ux, recorded in Book 2860 of OfficialRecords at Page 742, and is appurtenant to. a 16 acre tract described in the Deed from * * Oretta D. Carlson to San Mateo County Title Company, recorded April 13, * 1955 in Book 2777 of Official Records at Page 372 (File No. 42127-M), * * * Records of San Mateo County, California. * * * * * * * DESCRIPTION CONTINUED. . . * * * * * * * * * * * * * * * Page_ii. of 1 5 P,ges * EXHIBIT _� * * 4' 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4♦ 4 4♦♦ 4♦♦♦♦ 4♦.* 4 4♦ 4♦ 4 4 4♦ 4 4 4 4 4 4 4 4 4 4♦ 4 4 4 4 4 *Page * O C-1010 * * * * * * * 3 T f f 4 f • f * DESCRIPTION CONTINUED. . . T YY T � • rf f f T • • f f f f f • *4444.4•44 :r: FOUInDERS TITLE COMPCIi1Y . *****r* ORDER NO. 619755 2nd Run -to -Date * f• i JP JP PARCEL V: A portion of that certain 86.00 acre parcel in the Rancho Corte De Madera, as described in the Deed from Folger to Carlson recorded August 23, 1951, in Book 2118 at Page 459 of Official Records of San Mateo County, California, more particularly described as: BEGINNING at a point which bears North 16° 20' West 136.45 feet from the most Northerly corner of the lands described in Deed from Oretta D. Carlson et al to Robert A. Grimm and wife, recorded April 1, 1954 in Book 2560 at Page 536 Official Records, San Mateo Conty, California; thence North 87° 31' East 143.48 feet; thence North 59° 00' East 78.00 feet; thence North 80° 53' East 45.00 feet; thence North 18° 26' 30" West 175.25 feet; thence South 79° 30' East 227.00 feet; thence Southerly on a 1525 foot radius curve to the right from a tangent bearing South 11° 03' East, through a central angle of 6° 46' an arc distance of 180.10 feet to the point of beginning. PARCEL VI: TOGETHER WITH an easement for ingress, egress and utilities, within•a strip of land 35 feet wide lying contiguous to and Westerly of the Westerly line of the above described lands and within a strip of land 20 feet wide, the center line of which begins at a point distant South 85° 43' West 25.00 feet from the Southwesterly corner of the above described lands and runs thence Southerly on a 1500 foot radius curve to the right, from a tangent which bears South 4° 07' East, through a central angle of 7° 28' 22" an arc distance of 200 feet and compounding to the right, Southwesterly and Westerly on a 100 foot radius curve to the right, an arc distance of 192 feet, more or less, to the Easterly line of the public road known as La Honda Road, and the terminus of said easement. Said easement is appurtenant to Parcel I above and was created by that certain Deed recorded May 8, 1956 in Book 3020 of Official Records at Page 192 (File No. 52233-N) Records of San Mateo County, California. DESCRIPTION CONTINUED. . . Page_ 1 of__.S.Page s • • • f f • f f • f f • • f • f • ♦ • • f • f f f • • * • • f • • f • f f • • • • • • • OFC-1010 EXHIBIT fff•fff••••*paw bf j * 4 * 4,* *�* 4 * * * * * * DESCRIPTION CONTINUED. . • * * • . * * • • • * • TY 4 Y * * * * * *4. ***********'***41:****** 4 * * « FO U II D E R S TITLE COmPCMY ORDER NO. 619755 2nd Run -to -Date PARCEL VII: BEGINNING at a point which bears South 89° 00' West 30.44 feet, South 8° 43' 10" West 209.22 feet and South 21° 06' 50" East 364.22 feet from a concrete monument in the Northerly line of said Rancho marking ~the Northwesterly corner of that certain 5.60 acre tract shown on record of survey Map filed in the office of the Recorder of San Mateo County on October 23, 1950 in Book 2 of Licensed Land Surveyors' Maps at Page 99, said point of beginning being the most Westerly corner of land described in Deed from Oretta D. Carlson et al to Richard M. Carlson and wife, dated June 28, 1954 and recorded June 29, 1954 in Book 2607 at Page 401, Official Records of San Mateo County (67101 L) ; thence from said point of beginning North 73° 15' East 50.14 feet to the Southwesterly line of land described in Deed from Herbert T. Ellis and wife to Kay K. Strauss and wife, dated and recorded August 19, 1955 in Book 2860 at Page 740, Official Records (78996 M) ; thence along said Southwesterly line South 21° 06' 50" East 9.56 feet to an angle point in said line; thence South 8° 50' West 63.96 feet to a point in the Southwesterly line of lands described in Deed to Richard M. Carlson and wife before mentioned; thence North 35° 50' West along said Southwesterly line 71.13 feet to the point of beginning. A.P.N. A.P.N. A.P.N. A.P.N. A.P.N. 075-060-110. 075-060-140. 075-060-160. 075-070-040. 075-070-020. * * * * * * *..•• • • • • . • .••... • • • Page 15 of 15 5 Pages ••••••••••.• J.P.N. 75-06-060-11. J.P.N. 75-06-060-14. J.P.N. 75-06-060-16. J.P.N. 75-07-070- 4. J.P.N. 75-07-070- 2. R/W. 75-06-060- 3. R/W. 75-06-060- 6. R/W. 75-06-060-12. • • .* • .• • • • . • . • • ••••••4**• EXHIBIT OFC-1MR) SCHEDULE I CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY - 1973 SCHEDULE B - This policy does not insure against loss or damage, nor against costs, attorneys' fees or expenses, any or all of which arise ,by reason of the following: Part I 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. Proceedings by a public agency which may result in taxes or assessments. or notices of such proceedings, whether or not shown by the records of such agency or by the public records. 2. Any facts. rights. interests or claims which are not shown by the public records but which could be ascertained by an inspection of the land or by making inquiry of persons in possession thereof. 3. Easements. liens or encumbrances, or claims thereof. which are not shown by the public records. 4. -Discrepancies. conflicts in boundary lines. shortage in area. encroachments. or any other facts which a correct survey would disclose. and which are not shown by the public records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights. claims or title to water, whether or not the matters excepted under (a). (b), or (c) are shown by the public records. 6. Any right. title. interest, estate or easement in land beyond the lines of the area specifically described or referred to in Schedule A. or in abutting streets. roads, avenues, alleys, lanes. ways or waterways, but nothing in this paragraph shall modify or limit the extent to which the ordinary right of an abutting owner for access to a physically open street or highway is insured by this policy. 7. Any law. ordinance or governmental regulation (including but not limited to i:uilding and zoning ordinances) restricting or regula• - ; or prohibiting the occupancy, use or enjoyment of t: nd, or regulating the character. dimensions or location iy improvement now or hereafter erected on the land, or ;. -ohibiting a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part, whether or not shown by the public records at Date of Policy. or the effect of any violation of any such law, ordinance or governmental regulation, whether or not shown by the public records at Date of Policy. 8. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears in the public records. 9. Defects. liens, encumbrances. adverse claims, or other matters (a) whether or not shown by the public records at date of policy, but created. caused. suffered, assumed or agreed to by the insured claimant: fb) not shown by the public records and not otherwise excluded from coverage but known to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest insured by this policy or acquired the insured mortgage and not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became an insured hereunder; (c) resulting in no loss or damage to the insured claimant; (d) attaching or .created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had been a purchaser or encumbrancer for value without knowledge. AMERICAN LAND TITLE ASSOCIATION RESIDENTIAL TITLE INSURANCE POLICY -1979 EXCLUSIONS In addition to the exceptions in Schedule B. you are not insured against loss, costs, attorneys' fees and expenses resulting from: 1. Governmental police power. and the existence or violation of any law or government regulation. This includes building and zoning ordinances and also laws and regulations concerning: land use improvements on the land land division environmental protection This exclusion does not limit the zoning coverage described in Items 12 and 13 of Covered Title Risks. 2. The right to take the land by condemning it, unless a notice of taking appears in the public records on the Policy Date. 3. Title Risks: that are created, allowed, or agreed to by you that are known to you. but not to us. on the Policy Date — unless they appeared in the public records. that result in no loss to you that first affect your title after the Policy Date — this does not limit the labor and material lien coverage in Item 8 of Covered Title Risks 4. Failure to pay value for your title. 5. Lack of a right: to any land outside the area specifically described and referred to in Item 3 of Schedule A or in streets, alleys. or waterways that touch your land. This exclusion does not limit the access coverage in Item 5 of Covered Title Risks. EXHIBIT Page r • * * * * * * * * * *,* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * 4 * * * * * * * * * * * 42 * SCHEDULE 1 (Continued) • * • * ,, * • *• AMERICAN •LAND TITLE ASSOCIATION LOAN POLICY -1970 • • * WITH A.L.T.A. ENDORSEMENT FORM 1 COVERAGE • * •(AMENDED 10-17-70) • • • SCHEDULE OF EXCLUSIONS FROM COVERAGE • * • * • * 4 * The following matters are expressly excluded from the coverage of this policy: * * * 4 * 1. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordi- • * 'lances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating • * the character, dimensions or location of any improvement now or hereafter erected on the land, or prohibit • - * ing a separation in ownership or a reduction in the dimensions or area of the land, or the effect of any viola - tion of any such law, ordinance or governmental regulation. * 2. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such • * rights appears in the public records at Date of Policy. Defects, 3. liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to * by the insured claimant; (b) not known to the Company and not shown by the public records but known to • the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest * insured by this policy or acquired the insured mortgage and not disclosed in writing by the insured claim • - * ant to the Company prior to the date such insured claimant became an insured hereunder: (c) resulting in • no loss or damage to the insured claimant; d ( ) attaching or created subsequent to Date of Policy (except to • * the extent insurance is afforded herein as to any statutory lien for labor or material or to the extent • * insurance is afforded herein as to assessments for street improvements under construction or completed * * * • * AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY FORM B--1970 • * (AMENDED 10.17.70) • * SCHEDULE OF EXCLUSIONS FROM COVERAGE • * * at Date of Policy). • • * * 4. Unenforceability of the lien of the insured mortgage because of failure of the insured at Date of Policy or of • any subsequent owner of * - q the indebtedness to comply with applicable "doing business" laws of the state in • * which the land is situated. • * • • • * by the insured claimant; * (b) not known to the Company and not shown by the public records but known to • * the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest by • * this policy and not disclosed in writing by the insured claimant to the Company p y prior to the date such • * insured claimant became an insured hereunder; (c) resulting in no loss or damage to the insured claimant; • * (d) attaching or created subsequent to Date of Policy; (e) • y; resulting in loss or damage which would not have • * been sustained if the insured claimant had paid value for the estate or interest insured by this policy. - * 4 {i * h * N * 41 * • * 4 * V * •> * C * •t * a * 1 * .2 * * EXHIBIT .1- 41 • 4 • • • * • • • • • • * • • • • • II. • • • • • • 4 4 4 • • 4 • • • 4 • • • • 'I if. • • • • • • • • ♦ r► • * • • • vG * * • * • * • 1. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordi- • * nances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating • * the character, dimensions or location of any improvement now or hereafter erected on the land, or prohibit- • * ing a separation in ownership or a reduction in the dimensions of area of the land, or the effect of any • * violation of any such law, ordinance or governmental regulation. • * 2. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such $ * rights appear in the public records at Date of Policy. • * 3. • 3 Defects, liens, encumbrances, adverse claims, orother matters (a) created, suffered, assumed or agreed to • 1 •'% JfO 01.4%70 .IA! E 611 • e c.?6: „, (5 `Cd- �v f 9 1 moot, ♦4. \ 117 1.11 1. • • a: ;:. 1•t o 1411' • parrd L A HILLS ' q0y • i9 of 11 Y wry Y. 004 • f/ RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: Midpeninsnla Regional Open Space District Old Mill Office Center Building C, Suite 135 201 San Antonio Circle Mountain View, CA 94040 GRANT OF OPEN -SPACE EASEMENT WITH COVENANTS WHEREAS, 1. The undersigned, SIAVOSH MARC ZAND, an unmarried man, herein- after called "GRANTOR," is the owner of the fee simple estate in and to that certain real property hereinafter called the "Subject Property," situated in the County of San Mateo, State of California, more particu- larly delineated on the map attached hereto as Exhibit "A" and described in Exhibit "B" attached hereto. 2. GRANTOR and the MIDPENINSULA REGIONAL OPEN SPACE DISTRICT, hereinafter called "DISTRICT," have previously entered into that certain "Agreement to Exchange Real Property," dated and pursuant thereto, it' is the desire of GRANTOR to grant tJ DISTRICT, an c7en-space easement, on, upon, over, across and under said Subject Property pursuant to Chapter.6.6 (commencing with Section 51070) of Part 1, Division 1, Title 5 of the California Government Code and Section 5540 of California Public Resources Code. 3. GRANTOR and DISTRICT recognize the scenic, aesthetic and special character of the region in which their respective properties: are located, and have the common purpose of conserving the natural EXHIBIT E Page �� Grant of Open -Space Easement with Covenants Page 2 values of their resp ;ve properties by the conveyance of an open .space easement on, over, and across the Subject Property which shall conserve and protect the animal, marine, bird and plant populations and prevent the use or development of the Subject Property for any e. Puz'Pos or in any manner which_ would conflict with the maintenance of the Subject Property in its natural, scenic, open and wooded condition. 4. This Grant of Open -Space Easement with Covenants is re ferred to herein as the "Easement Agreement." NOW, THEREFORE, for valuable consideration, receipt of which is hereby acknowledged: Grant of Open -Space Easement 1. GRANTOR hereby grants to the DISTRICT an open -space easement, on, upon, over, across, above and under the Subject Property and relinquishes. to the public in perpetuity the right to construct improve- ments thereon. 2. GRANTOR covenants and agrees for itself and its successors and assigns that GRANTOR, its successors or assigns singularly on in com- bination: (a) Shall not erect, construct, place or maintain or permit the erection, construction, placement or maintenance of any improvement, building or structure or any other thing whatsoever on the Subject Property other than such improvements, buildings, structures, or other things existing on said property at the time of the grrnting of this easement. (b) Shall not use or permit the use of the Subject Property for any purpose except as open space. (c) Shall not use or allow others to use the Subject Property or any portion thereof as a parking lot, storage area or dump sit•- or otherwise deposit or allow to be deposited on said Subject Property on EXHIBIT Lam' Pane 2 of 9 Grant of Open -Space Easement with Covenants Page 3 any portion thereof temporarily or otherwise anything whatsoever which is not indigenous or natural to said.Subject Property. (d) Shall not cover or cause the Subject Property to be covered in whole or in part with any asphalt, stone, or concrete or other material which does not constitute natural cover for the land, and shall not otherwise disturb the natural cover for the land. (e) Shall not mine, extract, sever or remove nor permit or cause to be mined, extracted, severed or removed any natural resource found or located on, above or under the Subject Property or otherwise engage in or permit on the Subject Property any activity which will or' may destroy the natural and scenic characteristics of the Subject Property. (f) Shall not fish, trap, hunt, capture, kill or destroy or permit the fishing, trapping, hunting, capturing or destruction of fish or other marine or acuatic life on the Subject Property except upon prior written permission of the Town of Woodside for health or safety purposes only. (g) Shall not hunt or permit the hunting or trapping of animal life on the Subject Property. Pursuant thereto, GRANTOR, its successors or assigns shall not trap, kill, capture or destroy or permit the trapping, killing, capturing or destruction of animal life on the Sub- ject Property except upon prior written permission of the Town of Woodside for health and safety purposes only. (h) Shall not divide or subdivide the Subject Property or otherwise convey (other than under threat of condemnation) a portion of such property less than the whole to one or more parties or convey the Subject Property to two or more parties each of whom acquire title to less than the whole of the Subject Property. As used herein "party" means and includes any person, corporation, partnership or other legal entity capable of holding title to real property. EXHIBIT E Page 3 of Grant of Open -Space Easement with Covenants Page 4 (i) Shall not cut, uproot or remove or permit the cutting, uprooting or removal of timber or trees or other natural growth found or located on said Subject Property except as may be required for fite prevention, elimination of deceased growth, or construction and main- tenance of foot trails. (j) Shall not excavate or grade or permit any excavation or grading to be done or place or allow to be placed any sand, soil, rock, gravel or any material whatsoever on Subject Property except for con- struction and maintenance of foot trails based upon a plan approved in advance by DISTRICT. (k) Shall not operate or permit the operation on the Subject Property of any motor bike, trail bike, go-cart or other motor -driven or motor -powered vehicles except those motor vehicles reasonably necessary for the use of GRANTOR and the accomplishment of the purpose for which the Subject Property is used pursuant to the terms and condi- tions, restrictions and covenants set forth herein for the Subject Property. Grantor's Rights 3. Notwithstanding any other provision hereof, this Easement Agreement shall not restrict, in any manner, GRANTOR'S right to develop any natural springs and/or Alembique Creek on the Subject Property, to install water lines (preferably underground) on the Subject Property, and to remove water from the Subject Property. Such development of water sources may include the pruning of trees, and/or the thinning and removal of vegetation, and elimina- tion of dead or diseased growth, provided tree pruning or removal is only commenced after a permit is obtained from the Town of Woodside as required by law. EXHIBIT e7 P.2 LL ©f q Grant of Open -Space Easement with Covenants Page 5 Right to Prevent Prohibited Use 4. GRANTOR grants to DISTRICT its successors and assigns for the term of this easement the right, but not the obligation, to enter upon the Subject Property, at its own risk, for the following purposes: (a) To conduct regular general inspections of the Subject Property, in no event to exceed more than two (2) such regular general inspection once each calendar year, unless DISTRICT has reasonable cause to believe that GRANTOR is in material default of the terms of this Easement Agreement, in which case DISTRICT shall have the right to an interim general inspection at any time. (b) To investigage an alleged specific violation of the Ease- ment Agreement, but only after a bona fide third party complaint or report has been made to DISTRICT of such specific violation. (c) To investigate and halt activity on or use of the Subject Property contrary to the terns of this Easement Agreement which, if not immediately acted upon, would result in a material breach of this Agreement causing irreparable harm to the open -space nature of the Subject Property ("Emergency Inspection"). With respect to the regular and interim general inspections referred to in subparagraph (a), DISTRICT shall be required to give GRANTOR seven (7) days prior written notice before conducting such in- spections. With resoect to DISTRICT'S right to enter the Subject Property after a reported violation pursuant to subparagraph (b), DISTRICT shall be required to give GRANTOR two (2) days prior notice in writing or by telephone before conducting such inspections. In the case of an Emergency Inspection referred to in subparagraph (c), no prior telephone or written notice shall be required from DISTRICT to GRANTOR before DISTRICT enters upon the Subject Property, unless reason- able under the circumstances. EXHIBIT E Grant of Open-Space.Easement with Covenants Page 6 Enforcement 5. The stated purposes, terms, conditions, restrictions and covenants set forth herein and each and all of them, including the right of DISTRICT to require GRANTOR to perform any restoration work reasonably required due to a breach of this Easement Agreement, may be specifically enforced or enjoined by proceedings in the Superior Court of the State of California. No Authorization for Public Trespass 6. The granting of this Easement and its acceptance by the DISTRICT does not authorize and is not to be construed as authorizing the public or any member thereof to trespass upon or use all or any portion of the Subject Property or as granting to the public or any member thereof any tangible rights in or to the Subject Property or the right to go upon or use or utilize the Subject Property in any manner whatsoever. It is understood that the purpose of this Easement is solely to restrict the use to which the Subject Property may be put so that the Subject Property may be kept in its natural condition. Reservation of Use by GRANTOR 7. GRANi•OR reserves the right to use the Subject Property in any manner consistent with the stated purposes, terms, conditions, restric- tions and covenants of this Easement Agreement, and with existing zoning and other laws, rules and regulations of the State of California, the County of San Mateo, and the Town of Woodside, their successors or assigns, as such laws, rules and regulations may hereafter from time to time be amended. Nothing herein contained is to be construed as limiting GRANTOR'S use of the Subject Property in the Calculation of Development Density for the adjoining lands of GRANTOR; Provided, how- ever, that such development Density Calculation cannot be transferred or utilized for.lands other than the adjoining Lands of Grantor as of the date of this Easement Agreement. EX-U3$T OE Page to of .Grant of Open -Space Easement with Covenants• Page 7 Enforceable Restriction 8. This Easement Agreement and each and every term, condition, restriction and covenant contained herein is intended for the benefit of the public and constitutes an enforceable restriction pursuant to the provisions of Section 8 of Article XIII of the California Consti- tution and Chapter 6.6 (commencing with Section 51070) of Part 1, Division 1, Title 5 of the Government Code and shall bind GRANTOR and its successors and assigns and each and all of them and is intended to run with the land. This. Easement Agreement has been executed on this day of , 1986. GRANTOR: By Siavosh Marc.Zand.. ACCEPTANCE OF OPEN -SPACE EASEMENT WITH COVENANTS Pursuant to the provisions of Chapter 6.6 of Part I., Division I, Title 5 of the Government Code (commencing with Section 51070) and Section 5540 of the Public Resources Code, MIDPENINSULA REGIONAL OPEN SPACE DISTRICT, hereby accepts this grant of easement with the covenants on this day of , 1986. DISTRICT: MIDPENINSULA REGIONAL OPEN SPACE DISTRICT, A PUBLIC DISTRICT By President, Board of Directors Attest District Gtelobia Page 7 of q 1 1 1 1 'NSERT 03 r co 100:14 fop, co 1 0 .4 4, • 0. 1 6a, , • stAr HwY !MD is. • �Ir'. ��4. NP � ��o • . r•• • D aHS os V s SIHXa z C H Z o tn PO ASSES SOR'S MAP COQ NT Y OP SAN MATEO CALIF: U 0 rf (4I4 EXHIBIT B TO THE GRANT. OF OPEN - SPACE EASEMENT WITH COVENANTS All that certain real property situated in the Town of Woodside, County of San Mateo, State of California, and being a portion of the property formerly known as the Folger Estate and, sometime, thereafter, being a portion of the lands described in that Corporation Grant Deed from Parnas Corporation to Parviz Kamangar, recorded on March 2, 1979 in Book 7826 of Official Records at Page 951 (File No. 79042AN) , Records of San Mateo County, California and being more particularly described as follows: BEGINNING at a point on the northwesterly right-of-way of California State Highway No. 107, formerly known as La Honda County Road, Route 6, Division 2, of which said point bears North 23° 55' 03" West 60.00 feet from the southwesterly terminus of the course shown as "N. 66° 04' 57" E. (N 65° 41' E)B&C 181.18'" ,� that ___ , (course no. 15) on that certain L'lap entitled "PARCEL FLAP OF A RESUBDIVISION OF A PTN. OF THE CORTE MADERA RANCHO, BEING THE LAND DESCRIBED IN VOL. 7314 O.R. 472.", filed in the Office of the Recorder of the County of San Mateo State of , .f on October 24, 1979 � , California VV b in Volumer 43 of Parcel Maps at Pages 34 and 35; thence from said point of beginning, leaving said North- westerly right-of-way and crossing the lands described in the above mentioned Corporation Grant Dead (7826 C.R. 951) North 23° 30' West 500 feet more or less to the Southeasterly boundary of said California State Eightway No. 107; thence ..in a general Southwesterly direction, following the Southeasterly boundary of said last mentioned highway for a distance of 1700 to the -. Northeasterly L �. _ _ _ L _ � , _ feet, more o r less, the Northeasterly line of that certain 0.080 of an acre parcel described in the Deed to the State of California, recorded July 14, 1955 in Book 2837 of Official Records at Page 128 (File No. 68336-M) , Records of San Mateo County, California; • thence along said Northeasterly line . �ai�.iGLi�id, Y (using Division of Highway bearing), South 50° 25' 15" East 67.59 feet to the Northwesterly line said State of said ate Highway No. 107; thence along the general Northwesterly line of said Highway 1600 feet more or less to the point of beginning. EXCEPTING, i H E REF RON, any lands that may have been conveyed as described in the exceptions called out in Parcel I of the above mentioned Corporation Grant Deed (7826 O.R. 951) . EXHIBIT G . Y l� 8608.11-1 9544H AGREEMENT TO EXCHANGE REAL PROPERTY THIS AGREEMENT is made and entered into by and between Siavosh Marc Zand ("ZAND") and Midpeninsula Regional Open Space District ("DISTRICT") with respect to that certain parcel of real property (the "Parcel") containing approximately 10.69 acres located in the City of Woodside, County of San Mateo, State of California, commonly known as Assessor's Parcel Number 075-151-030, and more fully described on Exhibit A attached hereto and incorporated herein by reference. ZAND presently owns a twenty-five percent (25%) undivided interest in the Parcel, which undivided interest is evidenced by a Judgment entered August 22, 1979, in Civil Action No. 228057 in the Superior Court of the State of California, County of San Mateo, secured by a deed of trust against the Parcel (the "Judgment and Deed of Trust"). Such twenty-five percent (25%) undivided interest in the Parcel is referred to herein as the "Subject Property." This Agreement is entered into in conjunction with DISTRICT's acquisition from ZAND of real property adjacent to the Parcel pursuant to an agreement entered into on July 9, 1986, as amended on August /3, 1986. ZAND and DISTRICT hereby agree to enter into an exchange transaction with respect to the Subject Property, on the following terms and conditions: 1. Like -kind Exchange. ZAND desires to transfer the Subject Property to DISTRICT in exchange for other real property in a transaction that will qualify as a "like -kind exchange" within the meaning of Section 1031 of the Internal Revenue Code of 1954, as amended. ZAND agrees to transfer the Subject Property to DISTRICT, and DISTRICT agrees to acquire Page s a..., the Subject property from ZAND, in exchange for one or more parcels of real property (the "Exchange Property") designated in writing by ZAND to DISTRICT not later than forty-five (45) days following recordation of the transfer of the Subject Property from ZAND to DISTRICT. 2. Acquisition of Exchange Property. Upon designation of the Exchange Property by ZAND, DISTRICT shall enter into a binding written agreement with the owner or owners of the Exchange Property for the purchase or other acquisition of the Exchange Property. The terms and conditions of such agreement shall be as specified by ZAND to DISTRICT (and agreed to by the owner of the Exchange Property), subject to the approval of DISTRICT, which approval shall not be withheld unreasonably. 3. Failure to Complete Exchange. If ZAND fails to designate the Exchange Property within forty-five (45) days following recordation of the transfer of the Subject Property to DISTRICT or if the transfer of the Exchange Property from DISTRICT to ZAND fails to occur within one hundred eighty (180) days following the recordation of the transfer of the Subject Property, then DISTRICT shall pay to ZAND, within twenty-one (21) days following notification that such failure has occurred or will occur, cash in the amount of the value of the Subject Property as set forth in paragraph 4. 4. Value of the Sublect Property. The value of the Subject Property for purposes of exchange shall be Fifty -Five Thousand Dollars ($55,000.00) . 5. Value of the Exchange Property. The value of the Exchange Property for purposes of exchange shall be sum of the cash paid through escrow by DISTRICT to acquire such property, including all closing costs incurred by DISTRICT in connection with purchasing the Exchange Property. EX H1BIT x3es e t. 2 6. Difference in Value. In the event the value of•the Exchange Property shall be less than the value of the Subject Property, DISTRICT shall deposit the difference in cash, in lawful money of the United States of America, in the second stage escrow. In the event the value of the Exchange Property shall exceed the value of the Subject Property, ZAND shall deposit such excess, in cash, in lawful money of the United States of America, in the second stage escrow. Any sum so deposited by DISTRICT shall be paid to ZAND and any sum so deposited by ZAND shall be paid to DISTRICT, upon close of the second stage escrow. 7. Acquisition Financing. In the event the total purchase price of the Exchange Property exceeds the value of the Subject Property as set forth in paragraph 4, and the excess is tobe paid by way of a promissory note to the seller of the Exchange Property, DISTRICT agrees that in purchasing the Exchange. Property, it will execute such promissory note and any deed of trust required to secure same. Likewise, if the total purchase price of the Exchange Property exceeds the value of the Subject Property and said excess is to be paid by taking "subject to" a loan or loans which encumber the Exchange. Property, DISTRICT will do so upon its acquisition of the Exchange Property. However, DISTRICT shall not be required to assume any loan secured by the Exchange Property or to execute any promissory note or other evidence of indebtedness in connection with its acquisition which would impose any personal liability upon DISTRICT for repayment of such obligation. 8. Status of Title of the Subject Property. ZAND will transfer the Subject Property to DISTRICT by assignment of his rights, to the Subject Property only, under the Judgment and Deed of Trust. The Subject Property will be transferred subject to a Purchase Agreement pertaining to the Parcel dated EXHIBIT_ lc 3 March 28, 1986, by and between Tom Gano and Jonathan Parmer ("Parmer"). Upon ZAND's transfer of the Subject Property to DISTRICT, title to the Parcel shall be in such condition as Parmer shall have specified pursuant to such Purchase Agreement. 9. Status of Title of the Exchange Property. Title to the Exchange Property shall be conveyed by DISTRICT to ZAND by the standard form of deed used in the state in which the Exchange Property is located, with title in the condition which ZAND shall describe in writing prior to close of the second stage of escrow. The status of title of the Exchange Property shall be evidenced by a standard owner's policy of title insurance insuring ZAND's interest to be procured by or through escrow holder in the amount of DISTRICT'S purchase price of the Exchange Property. 10. Closing Date. Escrow for the transfer of the subject property from ZAND to DISTRICT (the "first stage") shall close on or before August 8, 1986, provided that ZAND may extend such closing date, at his election, for a period of not more than thirty (30) days. The first stage shall close concurrently with the transfer of the Parcel to Parmer. Escrow for the transfer of the Exchange Property from DISTRICT to ZAND (the "second stage") shall close not later than one hundred eighty. (180) days following the transfer of the Subject Property by ZAND to DISTRICT. The second stage shall close concurrently with DISTRICT'S purchase of the Exchange Property. 11. Interim Payments. In addition to any other amounts provided under this Amendment, DISTRICT shall pay to ZAND upon close of the second stage escrow the sum of $7.50 per day for the period commencing with the date of the closing of the first stage escrow and ending on the date of the closing of the second stage escrow. 4 12. Indemnification. DISTRICT agrees to cooperate with ZAND in completing this exchange. ZAND agrees to reimburse DISTRICT for reasonable expenses incurred in connection with DISTRICT's purchase of the Exchange Property, if such expenses are not included in the calculation of the value of the Exchange Property pursuant to paragraph 5, and ZAND agrees to indemnify and hold DISTRICT harmless from any claim, liability or expense, including attorney's fees, arising from or in connection with DISTRICT's purchase of the Exchange Property, including but not limited to the assurances contained in the last sentence of paragraph 8. 13. Closing Costs and Escrow Expenses of Exchange. Closing costs and escrow expenses of the first stage shall be paid by ZAND. 14. Miscellaneous. The following provisions shall apply to this Agreement: (a) Time is of the essence of this Agreement. (b) No waiver of any breach or default by any party hereto shall be considered to be a waiver of any other breach or default. (c) DISTRICT's rights and obligations hereunder shall not be assignable without the prior written consent of ZAND. Subject to that understanding, this Agreement shall inure to the benefit of and be binding upon all of the parties hereto, their assigns and successors in interest. (d) This Agreement is made and delivered and is intended to be performed in the State of California and shall 5 EXHIBIT Page�Q be construed and enforced in accordance with the laws of such. State. (e) This Agreement .may be executed in counterparts all of which taken together shall be deemed one original Agreement. (f) ZAND and DISTRICT agree to execute such additional documents, including escrow instructions, as may be reasonable and necessary to carry out the provisions of this Agreement. (g) This Agreement, together with the exhibits hereto, contains all representations and 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 and exhibits hereto. IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the dates indicated below. MIDPENINSULA REGIONAL OPEN SPACE DISTRICT By Date / /on: IAVOSH MC ZAND Date /3, g6 EXHIBIT F EXHIBI T A That land situ at e in the of San Mate o. Town of W Stat e of Californi a, Woodside des cribed as follows: .. . I.ot 10 as w-� . f'UltTULA shown can that certain HILLS SAN M/vj'EO E r„ t i t j f,, •► office of the County R ec ord er C111.IFURtJIA►► ] "MAP c�j: California c ord er f t'►1 in tlw Stat e on Jun e 28, 1910 infSa n Mateo Book 7 of Maps �� t County, paw. of as follo ws: portion of Lot 11 as shown on said map ckserih,.1 J 20. BEGINNING at the southerly terminus- of ts10andshown on said map; tilt? line l common t r, a nS, southweste rly„ bou nda ry of said Lot 1 1,S4 thence 2along' Qi,'. tilt. .00,.r.� tJ26°34' °32 30 E 32.39 fee t; leaving p2't7t►•.f 1 45'►E 360.38 thence 14�l .tlU feet Nl9° 0p'00-" fee t; thence N12°00'0 said !fec'try Nl point '00N 4169. 53 feet to a point N12°00100HE 92 . pt) tec•t; tf,h . •,� said distant S28 31' in said 148.inl' along common list 59 W (528°32 W ! ir,t sa idthen ce malongfrom tl,e northe rly 1 l a8. GU lent ► of beginning. said line 528°'59 "Wterminus of said li ne; ginning. 575.2] feet t�, t !,c• point Excepting that portion of said Lot 10 cleScr i b•da�: BEGINNING at the northe rly � fc�11��.,�;; line 1 U and ; t rly terminus of 528131 as shown on said map; r1,c� 59"W (S28°32' map; thence along said : •��rnrr��.�t, line fee t - to an angle W) 148.60 fee t; the „ . '00 boundary of said 9 po int in the the nce rJ] J Ut1 r l y 166.36ufee t tosaid dtLo t 10; thenc e,alonggsaid��l r,ortl,���-�st0"ly boun�l�� •. . point of beginning. Y S6(l 1 3 ()q t. • fV 4 4 8608.11 9528H AMENDMENT REGARDING EXCHANGE OF REAL PROPERTY This Amendment is made and. entered into by and between Siavosn Marc Zand ("ZAND") and Midpeninsula Regional Open Space District ("DISTRICT") with respect to that certain Agreement to Purchase Real Property by and between ZAND and DISTRICT which was executed by DISTRICT on duly 9, 1986 (the "Agreement"), and pertains to certain real property defined therein as °the Property." ZAND and DISTRICT hereby agree to amend the Agreement in the following respects only: 1. Like -kind Exchange. ZAND desires to transfer a 25% undivided interest in the Property (such 25% undivided interest being referred to herein as the *Subject Property") to DISTRICT in exchange for other real property in a transaction that will qualify as a "like -kind exchange" within the meaning of Section 1031 of the Internal Revenue Code of 1954, as amended. DISTRICT agrees to acquire the Subject Property from ZAND in exchange for one or more parcels of real property (the "Exchange Property") designated in writing by ZAND to DISTRICT not later than forty-five (45) days following recordation of the deed transferring the Subject Property from ZAND to DISTRICT. 2. Acquisition of Exchange Property. Upon designation of the Exchange Property by ZAND, DISTRICT shall enter into a binding written agreement with the owner or owners of the Exchange Property for the purchase or other acquisition of the Exchange Property. The terms and conditions of such agreement shall be as specified by ZAND to DISTRICT (and agreed to by the owner of the Exchange Property), subject to the approval of DISTRICT, which approval shall not be withheld unreasonably. EXHIBIT Page f ,! f 4 3. Closing Date. Escrow for the transfer of the Exchange Property from DISTRICT to ZAND (the "second stage") shall close not later than one hundred eighty (180) days following the transfer of title to the Subject Property by ZAND to DISTRICT. The second stage shall close concurrently with DISTRICT's purchase of the Exchange Property. • 4. Failure to Complete Exchange. If ZAND fails to designate the Exchange Property within forty-five (45) days following recordation of the deed transferring the Subject Property to DISTRICT or if the transfer of the Exchange Property from DISTRICT to ZAND fails to occur within one hundred eighty (180) days following the recordation of the deed transferring the Subject Property, then DISTRICT shall- pay to ZAND, within twenty-one (21) days following notification that such failure has occurred or will occur, cash in the amount of the value of the Subject Property as set forth in paragraph 5. 5o Value of the Subject Property. The value of the Subject Property for purposes of exchange shall be Sixty -Five Thousand Dollars (465,000), and the cash consideration payable under Section 2 of the Agreement shall be reduced accordingly. 6. Value of the Exchange Property. The value of the Exchange Property for purposes of exchange shall be sum of the cash paid through escrow by DISTRICT to acquire such property, including all closing costs incurred by DISTRICT in connection with purchasing the Exchange Property. 7. Difference in Value. In the event the value of the Exchange Property shall be less than the value of the Subject Property, DISTRICT shall deposit the difference in cash, in lawful money of the United States of America, in the second stage escrow. In the event the value of the Exchange Property shall exceed the value of the Subject Property, ZAND shall deposit such excess, in cash, in lawful money of t"_e United EXHIBIT 2 Page ? 0 ` � r fl' States of America, in. .the second stage escrow. Any sum so deposited by DISTRICT shall be paid to ZAND and any sum so deposited by ZAND shall be paid to DISTRICT, upon close of the second stage escrow.. 8. Acquisition Financing. In the event the total purchase price of the Exchange Property exceeds the value of the •Subject Property as set forth in paragraph 5, and the excess is to be paid by way of a promissory note to the seller of the Exchange Property, DISTRICT agrees that in purchasing the Exchange Property, it will execute such promissory note and any deed of trust required to secure same. Likewise, if the total purchase price of the Exchange Property exceeds the value of the Subject Property and said excess is to be paid by taking "subject to" a loan or loans which encumber the Exchange Property, DISTRICT will do so upon its acquisition of the Exchange Property. However, DISTRICT shall not be required to assume any loan secured by the Exchange Property or to execute any promissory note or other evidence of indebtedness in connection with its acquisition which would impose any personal liability upon DISTRICT for repayment of such obligation. 9. Status of Title of the Exchange Property. Title to the Exchange Property shall be conveyed by DISTRICT to ZAND by the standard form of deed used in the state in which the Exchange Property is located, with title in the condition which ZAND shall describe in writing prior to close•of the second stage of escrow. The status of title of the Exchange Property shall be evidenced by a standard owner's policy of title insurance insuring ZAND's interest to be procured by or through escrow holder in the amount of DISTRICT'S purchase price of the Exchange Property. 10. Interim Payments. In ae1ition to any other amounts provided under this Amendment, DISTRICT shall pc:y to ZAND upon close of the second stage escrow the sum of 9.00 per day for 3 EXHIBIT the period commencing with the date of recordation of the deed transferring the Subject Property to DISTRICT and ending on the date of the closing of the second stage of escrow. 11. Indemnification. DISTRICT agrees to cooperate with ZAND in completing this exchange. ZAND agrees to reimburse DISTRICT for reasonable expenses incurred in connection with DISTRICT's purchase of the Exchange Property, if such expenses are not included in the calculation of the value of the Exchange Property pursuant to paragraph 6, and ZAND agrees to indemnify and hold DISTRICT harmless from any claim, liability or expense, including attorney's fees, arising from or in connection with DISTRICT's purchase of the Exchange Property, including but not limited to the assurances contained in the last sentence of paragraph 8. 12. Additional Documents. ZAND and DISTRICT agree to execute such additional documents, including escrow instructions, as may be reasonable and necessary to carry out the provisions of this Amendment. IN WITNESS WHEREOF, the parties hereto have executed this Amendment on the dates indicated below. MIDP ENINSU A REGIONAL OPEN SPACE DISTRICT By 7%,./t.V,/ Date " . l ; l 9k4 SIAVOSH MA.tC ZAND Date EXHIBIT 6'1' 4 Page iulof....0 ar September 22, 1986 S. Marc.Zand 50 Toyton Road Atherton, CA 94025 Mr. L. . Craig Britton Land Acquisition Manager Mi dpeni nsul a Regional Open Space District 201 San Antonio Circle Old Mill Office Center Building C, Suite 135 Mountain View, CA 94040 Subject: Agreement to Exchange Real Property between MROSD and Zand Si. fined on August 13, 1986 by H. Grench and S.M. Zand Designation of the Exchange Property. A,04 -40e4././ "?‘ • Dear Craig, By this note I am designating as the exchange property the 61 acres land of Mr. Parvi z Kamangar in the Town of Woodside, San Mateo County, California, Assessor's Parcel No. 75-060-140, 75- 060-160v 75-060-110 and 75-070-040. I am looking forward to the completion of our transaction. Sincerely, • /4w/hi ,&� Siavosh Marc Zand CC: Mr. Herbert Grench EXHIBIT