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RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: City of Pleasanton City Clerk's Office 123 Main Street P.O.Box 520 Pleasanton,CA 94566 Recording Fees Exempt Pursuant to Government Code §27383 SPACE ABOVE THIS LINE FOR RECORDER'S USE. THIS DEVELOPMENT AGREEMENT ("Agreement") is made and entered into in the City of Pleasanton on this day of , 2014, by and between the City of Pleasanton, a municipal corporation (the "City"), and Charles Austin, and Scott Austin, and Ian P. Austin, as tenants in common (the "Developer"), pursuant to the authority of California Government Code sections 65864 et seq. RECITALS A. To strengthen the public planning process, encourage private participation in comprehensive planning and reduce the economic risk of development, the Legislature of the State of California enacted California Government Code sections 65864 et seq. (the "Development Agreement Statute"), which authorizes City to enter into an agreement with any person having a legal or equitable interest in real property regarding the development of such property. 13. Developer has a legal interest in certain real property located in the City of Pleasanton, County of Alameda, California consisting of approximately 30.4 acres located at 3459 Old Foothill Road, as more particularly described in DA Exhibit A-1 attached hereto, and as shown on the PUD Development Plan and tentative tract map attached hereto as DA Exhibit A-2. Developer contemplates subdividing the property into eight custom home lots with 22 acres to be maintained as open space and deeded to the City of Pleasanton for open space purposes consistent with the terms of this Agreement and consistent with the conditions of approval adopted of PUD-58 and Vesting Tentative Tract Map (PTR-7813), as more particularly described in DA Exhibit C. C. Developer's PUD Development Plan (PUD-58) for the property was approved by the City Council on October 17, 2006, extended by the Community Development Director on January 6, 2010, and by operation of State law has been extended until June 8, 2014. Developer's Vesting Tentative Tract Map (PTR-7813) was approved by the Planning Commission on June 8, 2007, and by operation of State law has been extended until June 8, 2016.