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JUL 04 '94 11:28 DRUPE DEV.- STOCKTON 20 ?36061- P.2/4 <br /> OPTION AGREEMENT <br /> This Option Agreement ("Option A,greement09) is entered into as of the <br /> day of April, 1989, by and between. ROBERT L. RIPKEN, as his sole and <br /> separate property, herea fter referred to as "Optionor", and CRT3pE <br /> DEVELOPMENT COMPANY-NORTHERN CALIFORNTA, a California corporation, hereinafter <br /> referred to as "Optionee". <br /> The parties enter into this Option Agreement on the basis of the <br /> following facts, understandings, and intentions., <br /> A. Optionor is the owner of certain real property comprising <br /> approximately three hundred ('300) acres located immediately south of the 14 <br /> Mile Slough and north of the center line of the 501 wide PG&E Tower Line <br /> Easement and west of the boundary for the City of Stockton, County of <br /> San Joaquin, California ("Ripken Property"). Optionor has entered into a <br /> purchase agreement for a portion of such property consisting of approximately <br /> 128 acres dated January 23, 1989 (herein "Purchase Parcel"). The remainder of <br /> such property, except as provided for in paragraph 18, is the subject of this <br /> Option and is hereinafter referred to as the "Option Property". A legal <br /> description of the Option Property is attached hereto as Exhibit "A". The <br /> Option Property shall be surveyed by R. W. Siegfried & Associates at <br /> Opttouee's expense. <br /> B. Optionee is the owner of certain real property ("Gruppe <br /> Property") comprising approximately eight hundred ('800) acres located adjacent <br /> to the Ripken Property. The Crupe Property is more particularly described in <br /> Exhibit "B" attached Hereto. <br /> C. Michael T. Tsutsui, Patricia A. Tsutsui, Jacqueline D. Tsutsvi <br /> and Leslie F. Tsutsui are the owners of certaln real property ("Tsutsui <br /> 092/084/033089 _1_ <br />