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III. SUCCESSORS IN INTEREST <br /> This Agreement shall run with the land and be binding upon and inure to the <br /> benefit of Developer and its heirs, assigns, and successors in interest that have an <br /> interest in the Subject Property, except for the purchasers of individual units within <br /> the Project. <br /> THIS AGREEMENT is entered into as of the day and year first above written. <br /> DEVELOPER: <br /> Ponderosa Homes II, LLC, a California <br /> Limited Liability Company, <br /> By: <br /> Name: <br /> Title: <br /> Ponderosa Homes II, LLC, a California limited liability <br /> company, its sole member <br /> By: <br /> Name: <br /> Title: <br /> CITY: CITY OF PLEASANTON, <br /> a Municipal Corporation <br /> BY <br /> Nelson Fialho, City Manager <br /> 2 <br />