PC-2024-09 - Laserfiche WebLink

Resolution No. PC-2024-09 Page 5 RECORDING REQUESTED BY CITY OF PLEASANTON When Recorded, Return to: Office of the City Clerk City of Pleasanton P.O. Box 520 Pleasanton, CA 94566 Recording Requested Pursuant to Government Code Sections 27383 & 6103 – no fee SIXTH AMENDMENT TO DEVELOPMENT AGREEMENT THIS SIXTH AMENDMENT TO DEVELOPMENT AGREEMENT (the “Sixth Amendment”) is made and entered into by and between the CITY OF PLEASANTON, a municipal corporation of the State of California (“City”), and STONERIDGE PROPERTIES LLC, a Delaware limited liability company, doing business in California as STONERIDGE ASSOCIATES, LLC, as successor in interest to SECURITY TRUST COMPANY, as TRUSTEE under Trust No. 1860-0 (“Developer”), pursuant to the authority of California Government Code Sections 65864-65869.5. RECITALS A. The City and Developer are parties to a Development Agreement (the "Agreement") dated as of November 5, 1992, as approved by the City Council under Ordinance No. 1578. The Agreement was recorded on April 2, 1993, as Instrument No. 93103418 in the Official Records of Alameda County. (Capitalized terms not otherwise defined in this Amendment shall have the meanings given to them in the Agreement; all references to the Agreement shall refer to the same as modified by the First, Second, Third and Fourth Amendments.) B. The parties entered into the First Amendment to Development Agreement (the "First Amendment"), dated as of January 6, 1998, as approved by the City Council by its Ordinance No. 1732. The First Amendment to Development Agreement was recorded on February 5, 1998, as Instrument No. 98048535 in the Official Records of Alameda County. C. The parties entered into the Second Amendment to Development Agreement (the "Second Amendment"), dated as of June 18, 2013, as approved by the City Council by its Ordinance No. 2073. The Second Amendment to Development Agreement was recorded on September 5, 2013, as Instrument No. 2013299219 in the Official Records of Alameda County. D. The parties entered into the Third Amendment to Development Agreement (the "Third Amendment"), dated as of August 21, 2018, as approved by the City Council by its Ordinance No. 2173. The Third Amendment to Development Agreement was recorded on September 19, 2018, as Instrument No. 2018182964 in the Official Records of Alameda County. E. The parties entered into the Fourth Amendment to Development Agreement (the “Fourth Amendment”), dated as of September 6, 2022, as approved by the City Council by its Ordinance 2230. The Fourth Amendment was recorded on September 12, 2022, as Instrument No. 2022156727 in the Official Records of Alameda County. F. The parties entered into the Fifth Amendment to Development Agreement (the “Fifth Amendment”), as approved by the City Council by its Ordinance 2249. The Fifth Amendment was recorded on March 4, 2024, as Instrument No. 2024031835 in the Official Records of Alameda County. It provides that the Agreement shall terminate July 1, 2024. G. The City and Developer desire to extend the term of the Agreement. In order to strengthen the planning process, encourage private participation in comprehensive planning, secure the orderly development of the shopping center expansion and provide greater opportunities for traffic management and cohesive, attractive site design and improvements and related economic benefits to the City, and to facilitate the future development of a comprehensive master plan for the shopping Docusign Envelope ID: 83745B92-B455-4AB6-8CAF-F4241BB8DF0F