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AGREEMENT FOR DISPOSITION AND DEVELOPMENT <br /> <br /> OF LAND FOR PRIVATE DEVELOPMENT <br /> <br />This agreement is entered into the ~ day of ,1997, between the City of Pleasanton, <br /> <br />California ("City"), and the development 'team comprised of BRIDGE Housing Corporation and The <br />Hillsdale Group ("Developer"). <br /> <br />WITNESS <br /> <br /> WHEREAS, the City of Pleasanton holds title to approximately 3.59 acres of land located at the <br />northwest comer of Sunol Boulevard and Junipero Street, Assessor Parcel No. 947-0003-002-00 <br />(portion), and more particularly described in Exhibit "A" ("Site"); and <br /> <br /> WHEREAS, the City issued a Request for Proposals dated March 15, 1996, for a project <br />Developer to plan, design, secure financing, construct, and manage an assisted living facility for senior <br />citizens (including units for low-income residents) on the Site ("Development"); and <br /> <br /> WHEREAS, in response to the Request for Proposals, the City has identified Developer as the <br />most qualified to develop the Site; and <br /> <br /> WHEREAS, BRIDGE Housing Corporation ("BRIDGE") intends to establish a nonprofit <br />subsidiary entity ("Nonprofit") to assist in acquiring financing for the Development; and <br /> <br /> WHEREAS, the ownership of the Development following construction is intended to be a <br /> <br />limited liability entity in which BRIDGE and The Hillsdale Group ("Hillsdale"), or subsidiaries of these <br /> <br />entities, will be principals; and <br /> <br />Agreement for Disposition and Development <br />of Land for Private Development - DATE , 1997 <br /> <br /> Page 1 <br />ALFDDAI .SAM; 01/10/97 <br /> <br /> <br />