ORD 1732 - Laserfiche WebLink

This document is recorded for the benefit of the City of Pleasanton and is entitled to be recorded free of charge in accordance with Sections 6103 and 27383 of the Government Code. When recorded, :o: DRAFT city of Pleasanton 123 Main Street Pleasanton, CA 94566-0802 Attn: City Attorney FIRST AMENDMENT TO DEVELOPMENT AGREEMENT THIS FIRST AMENDMENT TO DEVELOPMENT AGREEMENT (the "Amendment") is made and entered into as of. , 1997, by and between the CITY OF PLEASANTON, a municipal corporation of the State of California ("City"), and SECURITY TRUST COMPANY, as TRUSTEE under TRUST NO. 1860-0 ("Developer"), pursuant to the authority of California Government Code Sections 65864-65869..5. RECITALS: A. The City and Developer are parties to a Development Agreement (the "Agreement") dated as of November 5, 1992, as approved by the City Council under Ordinance No. 1578. The Agreement was recorded on April 2, 1993 under Instrument No. 93103418 in the Official Records of Alameda County. (Capitalized terms not otherwise defined in this Amendment shall have the meanings given to them in the Agreement; all references to the Agreement shall refer to the same as modified by this Amendment.) B. The City and Developer desire to amend the Agreement with regard' to the funding and reimbursement mechanism applicable to'required Traffic Mitigation Improvements. In addition, the parties have agreed to extend the term of the Agreement and to modify the scope of the Project (i.e., future expansion of Stoneridge Regional Shopping Center) as defined therein. In order to strengthen the public planning process, encourage private participation in comprehensive planning, secure the orderly development of the Project and provide greater opportunities for traffic management and cohesive, attractive site design and improvements and related economic benefits to the O:\USERS\REALEST\RG\IO17~\OOOI\DOC\DEV~.AGR 10113/97 at 2:2~tat