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SECOND AMENDMENT <br /> VALLEY AVENUE EXTENSION UNDERPASS AGREEMENT <br /> <br />THIS SECOND AMENDMENT TO THE VALLEY AVENUE EXTENSION UNDERPASS <br />AGREEMENT is made ,2005 between the City of Pleasanton ("City") and Bemal <br />Investment Company, LLC ("BIC") and amends the Valley Avenue Extension Underpass <br />Agreement dated July 17, 2001 as first amended September 21, 2004. <br /> <br /> RECITALS <br /> <br /> A. BIC is required to construct a crossing at separated grades ("Underpass Project") at <br />the proposed extension of Valley Avenue and the tracks of the Union Pacific Railroad. <br /> <br /> B. BIC has improvement plans describing the Underpass Project and specifically the <br />construction of a railroad bridge crossing the proposed extension of Valley Avenue ("Railroad <br />Improvements") and roadway improvements ("Roadway Improvements"). <br /> <br /> C. City had plans prepared for the relocation and construction of charmel improvements <br />("Channel Relocation Improvements"), including relocation of the channel that is necessary for <br />the Railroad Improvements and Roadway Improvements and acceptable to the permitting <br />agencies in context of the larger channel relocation project ("BIC Channel Relocation <br />Improvements"). <br /> <br /> D. City also had plans prepared for other improvements related to the Roadway <br />Improvements and the Channel Relocation Improvements which are described in paragraph <br />1.b.iii of this Second Amendment ("Related Improvements"). <br /> <br /> E. BIC has agreed to fund and construct the Railroad Improvements, the Roadway <br /> Improvements, and the Related Improvements. <br /> <br /> F. BIC has also agreed to construct the BIC Channel Relocation Improvements ifBIC <br /> and City could reach agreement as to the allocation o£costs for such Improvements. <br /> <br /> G. The parties have reached such agreement and now desire to amend the original <br /> Agreement, as first amended, to address the allocation of costs to construct the BIC Channel <br /> Relocation Improvements and to identify the plans for the Related Improvements. <br /> <br /> NOW, THEREFORE, in consideration of the faithful performance of the conditions and <br /> covenants set forth in this document, the parties agree as £ollows: <br /> <br /> 1. Responsibility. Section 3, "Responsibility" of the Agreement is further amended to <br /> read as follows: <br /> <br /> a. No change <br /> <br /> <br />