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ATTACHMENT 3 SUBDIVISION AGREEMENT Tract 8257, 3410 Cornerstone Court This Subdivision Agreement("Agreement") is made and entered into May_ 2016,by and between Ponderosa Homes II, Inc.,a California Corporation, 6130 Stoneridge Mall Road, Suite 185, Pleasanton, CA 94588 (Subdivider), and the City of Pleasanton, a general law city ("City"). RECITALS WHEREAS, Subdivider has a City-approved planned unit development plan(PUD-I I I) and vesting tentative map for Tract Map 8257(the"Tract") for the development of twenty five (25)new single family homes on an approximately 4.2 acre site at 3450 Cornerstone Court(the "Site"); and WHEREAS, all or a portion of the area of the vesting tentative map is presented as a "final map," a copy of said map is on file in the office of the City Engineer,and by reference is included in this Agreement for all purposes as if attached hereto; and WHEREAS, said map and subdivision of land designates streets,easements and public ways for the City, and Subdivider proposes to dedicate this land set forth in the final map to the City;and WHEREAS,as a condition precedent to accepting this offer of dedication by Subdivider, City requires the improvements of the public ways, installation or extension of certain City services at Subdivider's expense and certain protection for the City on behalf of the public;and WHEREAS, as mitigation measures and conditions of approval for PUD-I I I and the Tract,Subdivider must also construct public and private improvements on the site and public improvements off site which also benefit off-site properties. NOW,THEREFORE, in consideration of the faithful performance of the promises, terms,conditions and covenants set forth herein by Subdivider, the parties hereto agree as follows: I. Time of Essence. Time is of the essence in the performance of this Agreement. The work and improvements required by this Agreement to be completed by Subdivider shall be completed within one(I)year from the above-mentioned date of this Agreement. The City may extend the time for completion of improvements hereunder,upon good cause being shown by the Subdivider. Any such extension may be granted without notice to the Subdivider's surety; any extension so granted shall not relieve the surety's liability on the bond to secure the faithful performance of this Agreement. 2. Work. Subdivider will do or cause to be done and performed the following described work. Subdivision Agreement'I ract 8257 Page I of 7