BAY AREA SELF STORAGE - PUBLIC IMPROVEMENT AGMT 2003

1. Time of Essence. Time is of the essence in the performance of this Agreement. The work and improvements required by this Agreement to be completed by Developer shall be completed within the time frame set fourth in PUD approval, or as otherwise agreed to by the parties in writing, The City may extend the time for completion of improvements hereunder, upon good cause being shown by the Developer. Any such extension may be granted without notice to the Developer's surety, any extension so granted shall not relieve the surety's liability on the bond to secure the faithful performance of this Agreement. 2. Work. Developer will do or cause to be done and performed the following described work: Improvements pursuant to plans entitled "Bay Area Self Storage, Pleasanton, CA" designed by Kerry Engineering, Inc., for 3101 Valley Avenue, Pleasanton, California, approved by the City Engineer's office on August, 2002, but only to the extent such work is required under the terms of PUD approval. Exhibit "Al and A2" attached hereto depict the general area of such work, but not the scope of detail of such work, it being understood that the developer is only required to do such work required under the PUD approval. for the property. 3. Ins ep ction. City shall inspect all of said work through an inspector employed by City at the cost and expense of Developer, and Developer shall pay City the cost of such inspection as fixed by Ordinance. The City Engineer has tentatively fixed the inspection costs due upon execution of this agreement as follows: $7,468.00 4. Soils Report. Developer shall provide a preliminary soils report as required by Section 66490 of the Government Code. Said data shall be compiled by a qualified soils testing engineer without expense to the City. 5. Plans. All of said work required hereunder as provided in section 2 above shall be done and materials furnished in strict accordance with the approved plans for said commercial development filed with the City Engineer, and in accordance with the standard specifications and details of the City of Pleasanton. It is further understood that the work and materials shall be under the supervision of the City Engineer, and performed and installed to his satisfaction. 6. Related Contracts and Proceedin;;s. Any prior contracts between City and Developer and any prior approvals by Boards, Commissions or Council of City shall not be affected by the provisions of this Agreement unless specific modification is set forth herein. Nothing contained herein shall expand or increase Developer's obligations with respect to the work beyond that required by PUD approval. Public Improvement Agreement 8/14/02 Bay Area Self Storage, 3101 Valley Avenue Page 2 of 8