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BACKGROUND On November 15, 1994, the City entered into a Construction and Cost Sharing Agreement with the Hacienda Business Park Owners Association (HBPOA), Prudential Insurance Company, and Signature Properties regarding the construction and maintenance of a greenbelt to run through the Prudential and Signature properties. As the Valencia home development and Archstone apartments were constructed, the greenbelt was developed pursuant to the Construction and Cost Sharing Agreement. Valencia HOA is the successor in interest to the Signature parcels and Archstone is the successor in interest to the Prudential property. DISCUSSION With the completion of the 14- foot -wide "Ironhorse Trail" within the greenbelt by the East Bay Regional Park District in July 2014, the parties desire to clarify future maintenance responsibilities for the remainder of the greenbelt. To that end, HBPOA will maintain the greenbelt and shall be responsible for the replacement of capital equipment installed in the greenbelt. HPBOA shall collect assessments from the owners of the Valencia and Archstone parcels to fund said maintenance. All other terms of the original Agreement remain in place, including the City's obligation to indemnify the owners and tenants of Hacienda Business Park, Valencia, and Archstone in the event that there is a loss or claim related to the use of the Greenbelt by the public. This condition was a material inducement for the other parties in the original agreement and the amendment. Submitted by: Jonathan Lowell City Attorney Fiscaj Review: Approve ( -1a Tina Olson Director of Finance by: Nelson Fialho City Manager Attachment: 1. Amended and Restated Construction and Cost Sharing Agreement Page 2 of 2