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RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of Pleasanton City Clerk's Office 123 Main Street Pleasanton, CA 94566 Recording Fees Exempt Pursuant to Government Code§27383 ABOVE SPACE FOR RECORDER'S USE DEVELOPMENT AGREEMENT FOR LUND RANCH II SITE THIS DEVELOPMENT AGREEMENT ("Agreement") is made and entered into in the City of Pleasanton on this day of , 2015, by and between the CITY OF PLEASANTON, a municipal corporation ("City"), and GHC Lund Ranch, LLC, a Delaware limited liability company ("Developer"), pursuant to the authority of California Government Code sections 65864 et seq. City and Developer are sometimes referred to herein individually as a"party" and collectively as the "parties." 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. B. Developer has a legal or equitable interest in certain undeveloped real property located in the City of Pleasanton, County of Alameda, California consisting of approximately 195 acres, as more particularly described in DA Exhibit A-1 attached hereto, and as diagrammed in DA Exhibit A-2 attached hereto (the "Project Site"). Developer anticipates developing at the Project Site with a 48 unit residential community and approximately 161 acres of open space (the "Project"), as more particularly described in the Project Approvals (defined below). C. City has determined that by entering into this Development Agreement: (1) City is receiving assurances of controlled and orderly growth, through a Growth Management Agreement with Developer, and quality development of the Project in accordance with the goals and policies set forth in the City of Pleasanton's General Plan as it exists on the "Effective Date" (defined below); (2) City will benefit and the public interest will be served from: