North Shore Option Agreement between North Shore Developers, L.P. and Stadium Authority

What This Document Says

OPTION AGREEMENI day of (this “Agreement’) is made as of this THIS OPTION AGREEMENT ority of the City of ”), by and between the Stadium Auth September, 2003 (the “Effective Date e Developers, L.P. (“Optionee”), a Pennsylvania h Shor Pittsburgh (‘Optionor”), and Nort Limited Partnership dated partn ershi p formed purs uant to the Oplionee’s Certificate of Ii ted ited Partn ershi p of the Optionee dated 0 ZOO and the Agreement of Lim t”). ershi p Agre emen the “Optionee Partn WITNESSETH estate located in the City of s approximately 9.17 acres of real WHEREAS, Optionor own (the ‘Map”) as Parcels 4, 7.1, Pittsburgh, as depicted on the map attached hereto as Exhibit A 3,14 and 15 (herein referred to collectively as the 7.2, 10.1,10.2,10.3,10.4,10.5.12,1 below); and “Property,” as further described shown on the Map; s Parcels 1,2, 3, 6, 7.3 and 9, also WHEREAS, Optionor also own and Optionee desire that the Property be developed to support the WHEREAS, Optionor and ic purposes; and City of Pittsburgh and to serve publ n to purchase acquire the exclusive right and optio WHEREAS, Optionee desires to term s and cond ition s. under specified and/or ground lease the Property e as follows: intending Co be legally bound, agre NOW, ThEREFORE, the parties, I. OPTION of the sum ofOptionee’s payment to Optionor 1.1 Grant of Option.

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