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III. SUCCESSORS IN INTEREST <br /> This Agreement shall run with the land and be binding upon and inure to the benefit of <br /> Developer and its heirs, assigns, and successors in interest that have an interest in the Subject <br /> Property, except for the purchasers of individual units within the Project. <br /> THIS AGREEMENT is entered into as of the day and year first above written. <br /> DEVELOPER: Ponderosa Homes II, Inc. <br /> Agent: <br /> Title: <br /> CITY: CITY OF PLEASANTON, <br /> a Municipal Corporation <br /> BY <br /> Nelson Fialho, City Manager <br /> ATTEST: <br /> Karen Diaz, City Clerk <br /> APPROVED AS TO FORM: <br /> Daniel G. Sodergren, Cit Attorney <br /> 4 <br />