RES 88333 - Laserfiche WebLink

2D. BART and Ston~ridge ackhowledge that the City Council of the City of Pleasanton passed' Resolution No. 87-111 in March 1987, of its intention to form the'North Pleasanton Improvement 5istrict No. 3 (NPI.D). Both BAIT and Stoneridge believe that if the escrow contemplated by .this Agreement is closed prior to the completion of the formation of the NPID, BART, as a public agency, will not be subject to levy of any portion of the- special assessment imposed b~ the NPID (but Stoneridge shall have no responsibility to BART if this belief proves to be untrue). BART and Stoneridge also believe that the amounts which would otherwise be assessed against the BA_RT parcel will be spread to other property, including the Stoneridge Parcel, and approximately 33-.acres owned by Stoneridg~ II. The property owned by Stoneridge II is described in Exhibit C, attached hereto and incorporated heroin by this reference. BART agrees to pay the increase, if any, to'the · assessment on the Stoneridge Parcel and the properties described in Exhibit C up to a maximum of $60,000 in the aggregate under the following conditions: . (i) The assessment is levied for the purposes of the NPID. (ii) The formation of the' NPI6 is completed " within twelve (12) months of the .execution of.this Agre=anent, (iii) -The BART Parcel is not assessed," (iv) The assessment 'imposed by. the NPID on the Stoneridge Parcel and the property described in Exhibit C is greater than if BART had not purchased-the B~I~ Parcel. Stoner'idge shall ~rovide BART with an engineer~s' computatfon and any. additional ~ information reasonably requested by BART · in support of its claim under this subparagraph. (v) BART's obligat'ion shall not arise' until Stoneridge and Stoneridge II, respectively,~ are obligated to pay the assessment ~n their pEoperty, Exhibit A -. .:- - Page 1 of Z