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<br />SUBDIVISION AGREEMENT <br /> <br />TRACT NO. 7431, "BUSCH / PONDEROSA PROPERTY", PLEASANTON <br />ALAMEDA COUNTY, CALIFORNIA <br /> <br />THIS AGREEMENT made and entered at Pleasanton, California, this <br /> <br />day of <br /> <br />, 2005, by and between: <br /> <br />Ponderosa Homes II, Inc. <br />6671 Owens Drive <br />Pleasanton, CA 94588 <br />Phone: 925-460-8981 <br /> <br />(hereinafter referred to as "Subdivider") and the CITY OF PLEASANTON, a general <br /> <br />law city, located in Alameda County, California, acting through the City Manager and the <br />City Clerk, (hereinafter referred to as "City"). <br /> <br />WHEREAS, Subdivider has a tentative map for said tract, lying within the <br />boundaries of the City; duly approved by the Planning Commission or the City Council; <br />and <br /> <br />WHEREAS, all or a portion ofthe area of the tentative map is presented as a <br />"final map," a copy of said map is on file in the office of the City Engineer, and by <br />reference is included in this Agreement for all purposes as if attached hereto; and <br /> <br />WHEREAS, said map and subdivision of land designates streets, easements and <br />public ways for the City, and Subdivider proposes to dedicate this land set forth in the <br />final map to the City; and <br /> <br />WHEREAS, as a condition precedent to accepting this offer of dedication by <br />Subdivider, City requires the improvements of the public ways, installation or extension <br />of certain City services at Subdivider's expense and certain protection for the City on <br />behalf of the public. <br /> <br />NOW, THEREFORE, in consideration of the faithful performance of the <br />promises, terms, conditions and covenants set forth herein by Subdivider and the <br />approval of the map for recording by the City, the parties hereto agree as follows: <br /> <br />1. Time of Essence. Time is of the essence in the performance of this <br />Agreement. The work and improvements required by this Agreement to be completed by <br /> <br />SUBDIVISION AGREEMENT <br />TRACT NO. 7431, "Busch / Ponderos. Property" <br />Page 1 of8 <br />