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(Exhibit "A" referenced in Condition 18 is the same as <br />Exhibit "A" to this Agreement.) <br /> <br /> E. In fulfillment of the requirements of Condition No. 18 <br />of PUD-85-17, the Owner has signed and executed a Deferred Street <br />Improvement Agreement. The Deferred Street Improvement Agreement <br />has been recorded with the Alameda County Recorder at Official <br />Records 86-261289 (Exhibit B). The value of the landscape and <br />street improvements contemplated therein is $72,538.00 (Exhibit <br />C). <br /> <br /> F. City and Owner agree that upon sale of all the townhouse <br />units, that a residual obligation of $72,538.00 upon the owners <br />association (to add the landscaping and modify the street in <br />conjunction with the City's construction of Del Valle Parkway) <br />would be difficult and burdensome. In lieu of leaving the owners <br />association with the obligations of the Deferred Street <br />Improvement Agreement at this time, Owner would prefer to provide <br />the City with cash in an amount equal to the estimated landscape <br />costs. <br /> <br /> NOW, THEREFORE, the City and Owner agree as follows: <br /> <br /> 1. Cash Payment. Owner shall pay the City Seventy-two <br />Thousand Five Hundred and Thirty-eight Dollars ($72,538.00) in <br />cash under the terms provided in Paragraph 3. This payment shall <br />constitute complete fulfillment of Owner's obligations pursuant <br />to Condition No. 18 of PUD-85-7. <br /> <br /> - 2 - <br /> <br /> <br />