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AGREEMENT OF PURCHASE AND SALE This Agreement of Purchase and Sale (`Agreement"), dated for reference purposes as of 2007, is entered into by and between MANUEL SANCHEZ a.k/a MANUEL SANCHEZ JR., ("Seller"), and INTERRA DEVELOPMENT PARTNERS, LLC, a Delaware limited liability company,or its nominee("Buyer"). Recitals A. Seller is the owner of that certain real property located in the City of Stockton, County of San Joaquin, State of California,commonly known as the property located at the northeast comer of Mariposa Road and Farmington Road, Assessor's Parcel No. 173-040-33 and Assessor's Parcel No. 173-040-34, consisting of approximately 1.18 acres ('Property"),more particularly described in Exhibit A,attached hereto and incorporated herein by reference. B. The term Property as used in this Agreement shall include all rights, privileges, easements and'appurtenances owned by Seller benefiting such real property,including,without limitation, all mineral and water rights and all easements, rights-of-way and other appurtenances used in or connected with the beneficial use of such real property. C. Buyer desires to purchase and Seller desires to sell the Property upon the terms and conditions set forth in this Agreement. NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained herein,the parties agree as follows: Agreement 1. Purchase and Sale. Seller agrees to sell and convey to Buyer, and Buyer agrees to purchase from Seller,the Property on the terms and subject to the conditions set forth in this Agreement. For the purposes of this Agreement, the date which the last party executes this Agreement shall hereinafter be referred to as the"Effective Date." 2. Purchase Price. The purchase price (the "Purchase Price") for the Property shall be 3. Payment of the Purchase Price. The Purchase Price shall be payable by Buyer as follows: (a) Initial Deposit. Within five 5 busWeg days following-tha-Effrc-tive ate, Buyer shall deposit the amount of ("Initial Deposit") with First American Title Insurance Company, 135 Main Street, 12th Floor, San Francisco, Ca 94105, Kimberleigh Toci, Senior Escrow Officer ('Escrow Holder"), which amount shall be invested in an interest bearing federally insured account by Escrow Holder. The Initial Deposit shall be refundable to Buyer during the Contingency Period (as defined in Section 6(a)) except that the Initial Deposit shall become non-refundable to Buyer pursuant to the terms of 3(a)(i) below. In all instances, the Initial Deposit shall apply to the Purchase Price and shall be refundable to Buyer in the event of default of Seller. (i) At the expiration of the initial day Contingency Period the Initial Deposit in the amount of shall become non-refundable to Buyer and shall be applicable to a urc ase nc ose o crow. In the event of Seller's default,however,the entire Deposit shall be returned to Buyer. -1- PSA Stockton-Farmington Sanchez Final 0$.30.07