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EXHIBIT B <br /> RECORDING REQUESTED BY AND <br /> WHEN RECORDED MAIL TO: <br /> City of Pleasanton <br /> City Clerk's Office <br /> 123 Main Street <br /> P.O. Box 520 <br /> Pleasanton. CA 94566 <br /> Recording Fees Exempt Pursuant to Government Code <br /> 27383 <br /> SPACE ABOVE THIS LINE FOR RECORDER'S USE <br /> THIS DEVELOPMENT AGREEMENT ("Agreement") is made and entered into in <br /> the City of Pleasanton. California. on this day of , 2014, by and between the City <br /> of Pleasanton. a municipal corporation (the "City"), and Workday. Inc., a Delaware corporation. <br /> (the "Developer") pursuant to the authority of Calilbrnia Government Code sections 65864 et <br /> seq. <br /> RECITALS <br /> A. To strengthen the public planning process, encourage private participation in <br /> comprehensive planning and reduce the economic risk of development, the Legislature of the <br /> State of California enacted California Government Code sections 65864 et seq. (the <br /> "Development Agreement Statute"). which authorizes City to enter into an agreement with any <br /> person having a legal or equitable interest in real property regarding the development of such <br /> property. <br /> B. Developer has a legal interest [i.e. a ground leasehold interest agreement as tenant <br /> with a term expiring December 31. 2108. pursuant to the Restated and Amended Pleasanton <br /> Ground Lease dated January 30, 2014, between Developer and the Bay Area Rapid Transit <br /> District ("BART")] in certain real property located in the City of Pleasanton. County of <br /> Alameda. California consisting of approximately 6.9 acres located at 6110 Stoneridge Mall Road <br /> ("6110") as described in Exhibit A-1. NYC Holdings. LLC. a Nevada limited liability company <br /> (the " Adjacent Property Owner') has a legal interest in certain real property located in the <br /> City of Pleasanton. County of Alameda. California consisting of approximately 25.4 acres at <br /> 6120-6160 Stoneridge Mall Road, commonly known as Stoneridge Corporate Plaza ("SCP'') as <br /> shown on the site plan attached hereto as Exhibit A-2. 6120-6160 Stoneridge Mall Road is <br /> currently developed with five multi-story office buildings and related site improvements. <br /> C. Developer. with Adjacent Property Owner's consent, contemplates developing <br /> a six-story, approximately 430,000 square foot office building, parking garage, surface parking at <br /> 6110, and a parking garage and surface parking on a portion of the property at SCP, along with <br /> related site improvements such as landscape modifications, stormwater treatment areas; and <br /> other related improvements (the "Project"). Developer. BART and Adjacent Property Owner <br /> anticipate providing future lot-line adjustments and/or other related property modifications <br /> between 6110 and SCP to allow for the aforementioned improvements. <br /> -1- <br />