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L Wasser@gibsondunn.com <br />October 30, 2008 <br />(949) 451-3848 R 22553-00006 <br />(949) 475-4770 <br />VIA EMAIL <br />Office of the Clerk of the City Council <br />of Santa Ana <br />20 Civic Center Plaza, 8th Floor <br />Post Office Box 1988 <br />Santa Ana, CA 92702 <br />Re: Purchase and Sale Agreement and Joint Escrow Instructions, dated <br />September 10, 2008 (as amended, the "PSA "), by and among LIC Santa <br />Ana Retail, Inc., a Delaware corporation ("Buyer "), and Main Street <br />Concourse Retail LLC, a California limited liability company <br />("Concourse Retail') and Main Street Concourse LLC, a California <br />limited liability company ("Concourse Owner ") <br />Dear Sir or Madam: <br />Pursuant to the above referenced PSA, Concourse Retail and Concourse Owner <br />(collectively, "Seller") have agreed to sell to Buyer that certain real property located at the corner <br />of Main Street and Memory Lane in the City of Santa Ana (the "City"), consisting of <br />approximately 6.01 acres of land and 57,909 square feet of retail space, as more particularly <br />described on Exhibit A attached hereto (the "Property"), which is operated as a commercial <br />shopping center commonly known as "City Place." The Property is currently subject to that <br />certain First Amended and Restated Development Agreement dated February 14, 2005, by and <br />between the City and Concourse Owner (the "Development Agreement"). <br />In connection with the foregoing, pursuant to Section 4.4 of the Development Agreement, <br />Seller hereby requests that the City Council approve the proposed sale of the Property to Buyer, <br />and place such request for approval on the consent calendar for the City Council meeting to be <br />held on November 17, 2008. <br />31 F-3 <br />