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LED UPGRADE AGREEMENT This LED Upgrade Agreement ("Agreement") is executed on 2013 by the City of Pleasanton, a municipal corporation ("City") and the Hacienda Business Park Owners Association, a California ("Association"). RECITALS A. The Association manages the 833-acre Hacienda Business Park ("Hacienda") approved by the City and subject to conditions generally set forth in Ordinance No. 1325 and as subsequently modified for a Planned Unit Development (PUD-81-30 and PUD-85-8), including Condition of Approval number 10, which provides that "All ... lighting within the Common Area, as defined by the CC&Rs, shall be maintained by the Property Owners' Association ..." and which Amended CC&Rs have been recorded as the Declaration of Covenants, Conditions and Restrictions for Hacienda Business Park (No. 4) recorded April 8, 2013 as Instrument No. 2013-124373, Official Records of Alameda County (the "CC&Rs"). B. As provided by the conditions and approvals discussed in Recitals A, above, and which are incorporated by reference herein, the Association is responsible for the electricity, maintenance and repair of 783 street lights within Hacienda. C. The City is undertaking an upgrade of approximately 5,464 street lights in many parts of the City to change the existing high pressure sodium lights to new light-emitting diodes (LED) that are more energy efficient and long-lasting. D. The Association seeks to similarly upgrade to LED the 783 street lights within Hacienda for which the Association is responsible for electricity, maintenance and repair. E. The City and the Association desire to allow the Association to benefit from the economies of scale of the City's upgrade, as well as borrow from the North Pleasanton Improvement District No. 3 (NPID No. 3) Assessment District No. 1986-9 account to fund the Association's LED upgrade because such action both benefits the NPID No. 3 district and the terms of the loan result in no loss to the NPID No. 3 account. NOW, therefore, in exchange for valuable consideration, the receipt of which is hereby acknowledged, Association and City agree as follows: I. Lowest Responsible Bid Price. (a) In 2013, the City called for bids for the upgrade to LEDs for approximately 5,464 street lights in many parts of the City. The City's call for bids included the cost of the new LED units, brackets, photocells, shields, which item prices include shipping and installation, as well as an additive item for GPS data collection ("Total Bid Price"), as set forth in the LED Street Light Retrofit Project CIP 135056 bid information. 1