SITE INFORMATION AND CORRESPONDENCE

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REAL ESTATE SALES INSTRQNENT OFFER BY SELLER 1. Subject to the terms herein, Jim Duncan called "Seller" , hereby offers to sell to Atlantic Richfield Company, a Delaware Corporation, called "Buyer" , real estate in the County of San Joaquin, State of California described in attached Exhibit A and called "said Realty". 2 . The price is $ 275 , 000 . 00 . The price includes improvements, if any, benefits and appurtenances to said Realty. Conveyance shall be by Grant Deed, free of encumbrances, except those accepted by Buyer in writing. 3. Escrow shall be with Commonwealth Land Title Insurance Company, 2049 Century Park East, Los Angeles, CA 90067 . Buyer and Seller shall each pay one-half of the Escrow fee. 4. In consideration of $600. 00 paid in hand, Seller agrees not to cancel this offer without giving Buyer at least 30 days prior to written notice of said cancellation in accordance with Provision 14 . Seller also agrees not to deliver such notice before December 16, 1988. Seller further agrees not to cancel this offer pursuant to this Provision after this offer has been accepted by Buyer in accordance with its terms . If Buyer so accepts , the $600. 00 consideration shall be credited against the Provision 2 purchase price . Buyer may accept this offer by signing and dating its acceptance below and by delivering a copy of this instrument with Buyer ' s signed acceptance thereon in accordance with Provision 14. Acceptance shall not occur without execution by an authorized representative of Buyer. 5. After acceptance is delivered, Buyer shall : A. Deposit $27, 400. 00 into Escrow; B. Apply for all permits, licenses and governmental approvals necessary for the construction , maintenance and operation of the commercial enterprise Buyer desires to construct on the said Realty, called "the permits"; ,. C. Apply to a title insurance company acceptable to Buyer for a report on the condition of title; D. Order a survey of the said Realty;