RES 88180 - Laserfiche WebLink

FIRST AMENDMENT TO LONG TERM AGREEMENT (SHEA HOMES) THIS FIRST AMENDMENT to the Long Term Agreement (Shea Homes) is made and entered into this 19th day of April, 1988 by and between J. F. SHE]% COMPANY, INC. dba SHEA HOMES, a Nevada corporation (hereinafter referred to as "Developer"), and the CITY OF PLEASANTON, a municipal corporation (hereinafter referred to as "City"). The Developer and City agree as set forth below: RECITALS The City Council has determined at its April 19, 1988 meeting that it would be appropriate for construction to begin on projects approved pursuant to Long term Agreements six months prior to the calendar year for which the Growth Management approval for specified units was given. This determination was based on adverse impacts resulting on construction during the winter months and in order to treat Long Term Agreements from the 1985 calendar year the same as units for subsequent years are treated. Recital B to the Long Term Agreement made and entered into on the 20th of May, 1986 by and between Developer and City is amended as follows: 1. Section II (Development Approvals), B (Building Permits), of the May 20, 1986 agreement is amended as follows: "Section II. DEVELOPMENT APPROVALS . . . B. Building Permits. Building permits may be obtained six (6) months prior to the calendar year for which Growth Management approval is given for any time in the next two (2) calendar years except as otherwise provided herein. Homes may not be occupied prior to the year for which Growth Management approval is given. Thus, where this agreement identifies a Growth Management approval for the year 1987, building permits for the authorized units may'be obtained between July 1, 1986 and December 31, 1989." 2. Except as expressly modified herein, the May 20, 1986 agreement shall remain in full force and effect. - 1 -