02 AGREEMENT VINEYARD - Laserfiche WebLink

Recorded at the request of: City of Pleasanton When recorded, return to: City of Pleasanton P.O. Box 520 Pleasanton, CA 94566 AGREEMENT CONCERNING CAPITAL IMPROVEMENTS THIS AGREEMENT is entered into this day of , 2007 between Daniel M. Guggenheim and Susan Guggenheim, as Trustees of the Daniel and Susan Guggenheim Revocable Trust under Declazation of Trust dated April 1, 1992, amended and restated June 25, 2004, and now known as Guggenheim Family Trust, Daniel and Susan Guggenheim Trustees, Sara Guggenheim, Beth Sinclazi Blower, Kristin Allyn Miller, Richazd E. Johnson, Trustee of the Johnson Revocable Trust dated March 1, 1985, DP Acquisitions, LLC, a California limited liability company, and Kerry Marie Guggenheim (collectively. Owner) and the City of Pleasanton (City). RECITALS A. Owner is the owner of real property located at 3263 Vineyard Avenue, Pleasanton, California, and more particularly described in Exhibit 1 attached hereto and incorporated herein by reference (the Property). B. The Property has been developed and improved as a mobile home pazk, known as Vineyard Mobile Villa, and has 208 mobile home spaces (the Park). C. The Park has a number of capital improvements including (but not limited to) the improvements described in Exhibit 2 attached hereto and incorporated herein by reference (the Capital Improvements). D. For a number of yeazs, Owner and City have entered into a series of agreements concerning the rents that aze charged at the Park. E. Owner has maintained and repaired, as necessary, the Capital Improvements, but the agreements between the Owner and City have set forth formulas for how the costs to replace (or to construct new) Capital Improvements will be allocated between the Owner and the residents of the Park; generally, the residents have been responsible for those costs over certain threshold amounts. F. Owner has proposed that in exchange for an immediate rent increase, Owner would assume, in perpetuity, the financial responsibility to maintain, repair and replace (as and when necessary) all Capital Improvements in the Park, those that exist today and those that may be constructed in the future.