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5. Bonded Debt. Owners' consent that, upon annexation of the property to the City, <br /> said property shall be taxed to pay their share of existing bonded indebtedness of City. <br /> This Agreement shall serve as such consent, and a copy shall be filed with Treasurer- <br /> Tax Collector of Alameda County, if evidence of such consent is required; provided, <br /> however, that the Owners' property will be excluded from the City bonded debt existing <br /> on the effective date of this Agreement and from and after the annexation of the property <br /> to the City for all utility facilities to which the property is not connected. <br /> 6. Benefit or Assessment Districts. Owner shall cooperate with City in the formation <br /> of any mutual benefit districts or assessment districts which City deems necessary for <br /> the installation of public improvements serving, in whole or in part, the property, whether <br /> such districts are formed at the time of annexation or some time in the future. In this <br /> regard, Owner waives their right to protest the formation of any of said districts and shall <br /> do no act calculated or tending to prevent, impede, or defeat the successful formation <br /> thereof; provided, however, that this waiver is not intended, nor shall it be construed, to <br /> affect or limit the rights of the Owner to participate in the hearings and/or other aspects <br /> of the district formation proceedings to the extent necessary and appropriate to protect <br /> and further the Owners' interest or the public interests so long as said action does not <br /> tend to prevent or defeat the formation of the districts. <br /> 7. Successors and Assigns. This Agreement shall expressly run with the land and <br /> shall apply to, bind, and inure to the benefit of successors in interest of the Owner with <br /> respect to the legal title to the land described in Exhibit A. <br /> 8. Recording. The execution of this Agreement shall be acknowledged before a <br /> Notary Public, and the Agreement shall be recorded with the Recorder of Alameda <br /> County. <br /> IN WITNESS WHEREOF, the parties set their hands, and the City has caused this <br /> Agreement to be executed on the day set forth above. <br /> ATTEST: CITY OF PLEASANTON <br /> Karen Diaz, City Clerk Nelson Fialho, City Manager <br /> APPROVED AS TO FORM: HFD Partnership, <br /> A General Partnership <br /> By: <br /> Jonathan P. Lowell, City Attorney Michael W. Faber <br /> Chairman of the Board <br /> 3 <br />