RES 88180 - Laserfiche WebLink

FIRST AMENDMENT TO LONG TERM AGREEMENT (LUND/CASTLEWOOD) THE FIRST AMENDMENT to the Long Term Agreement (Lund/Castlewood) is made and entered into this 19th day of April, 1988 by and between J. F. SHEA 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"). RECITALS A. Developer is the successor in interest to Castlewood Properties, Inc. with respect to the Lund/Castlewood Long Term Agreement, dated June 24, 1986, relating to a 53 acre parcel described in Recital (A) to that agreement. B. The City Council determined at the April 19, 1988 meeting that parties to 1986 Long Term Agreements should be entitled to initiate construction six (6) months prior to the calendar year of Growth Management approval for specified units. This amendment carries out that determination. NOW, THEREFORE, City and Developer agree as follows: 1. Section II (Development Approvals), B (Building Permits), of the June 24, 1986 agreement is amended as follows: "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 to 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 June 24, 1986 agreement shall remain in full force and effect. - 1 -