RES 88062 - Laserfiche WebLink

Agreement This Agreement is entered into, effective this__ day of ,1988, by and between the City of Pleasanton, a California municipal corporation, ("City"); Roselma Bonde, an individual ("Bonde"); Centaur Capital, a California general partnership, ("Centaur"); and Shapell Industries, Inc., a Delaware corporation ("Shapell"). Recitals Whereas, Bonde is the owner of that certain property situated adjacent to the City of Pleasanton, in the County of Alameda, State of California, containing approximately 104 acres, and depicted in Exhibit "A," ("Subject Property"). And Whereas, Bonde entered into that certain agreement dated June 23, 1987 with Centaur, ("Purchase Agreement") under the terms of which Bonde has agreed to sell and Centaur has agreed to purchase the Subject Property. And Whereas, Centaur entered into that certain agreement dated September 25, 1987, with Shapell, ("Joint Development Agreement") under the terms of which, Shapell will be involved with the development of the Subject Property. And Whereas, Centaur and Shapell intend to process the Subject Property through the appropriate governmental entities for the approval of a residential subdivision to be constructed upon the Subject Property. Such processing to be undertaken by Centaur and Shapell includes, without limitation, applications for annexation of the Subject Property to City, and Rezoning. And Whereas, In accordance with the orderly development of the Subject Property as well as other properties within the jurisdiction of City, City has determined that it shall extend Bernal Avenue through the Subject Property, said extension requiring the condemnation of a right of way through the Subject Property absent agreement to the contrary. And Whereas, The parties hemto have determined that they will be mutually benefited in cooperating with one another, and hence, the parties hereto have agreed to the provisions of this agreement in lieu of condemnation of the right of way