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DRAFT <br /> AGREEMENT REGARDING BERNAL AVENUE EXTENSION <br /> FROM DEL VALLE BRIDGE TO STANLEY BOULEVARD <br /> <br /> THIS AGREEMENT is made and entered into on the day of <br />August, 1987, by and between the CITY OF PLEASANTON, a municipal <br />corporation, hereinafter referred to as "City", and AMADOR VALLEY <br />SAVINGS AND LOAN, a California corporation, hereinafter referred <br />to as "Amador Valley." <br /> <br /> RECITALS <br /> <br /> A. Amador Valley is the owner of certain real property <br />planned for residential development consisting of approximately <br />20 acres, Assessor's Parcel Number 946-1735-15-1. The property <br />is more specifically described in Exhibit "A", attached hereto <br />and incorporated herein by reference. <br /> <br /> B. Amador Valley has proposed development of the property <br />into 60-65 lots for development of single-family, detached houses <br />and has submitted a preliminary subdivision map to City staff for <br />review. <br /> <br /> C. Amador Valley cannot submit a tentative map for City <br />review and approval until the Vineyard Avenue moratorium is <br />lifted and it has secured growth management program approval. <br /> <br /> D. City established the Vineyard Avenue moratorium due to <br />unacceptable traffic volumes on Vineyard Avenue, the primary <br />feeder street to the property. The moratorium will be lifted <br />when Bernal Avenue is extended from the Arroyo del Valle bridge <br />to Stanley Boulevard and from Kottinger Drive to Independence <br />Drive. <br /> <br /> E. Plans for the construction of Bernal Avenue from <br />Kottinger Drive to Independence Drive are pending, leaving the <br />extension from the Arroyo del Valle bridge to Stanley Boulevard <br />to be begun in order to lift the Vineyard Avenue moratorium. <br /> <br /> F. Amador Valley wishes to eliminate the Vineyard Avenue <br />moratorium's effect on its proposed project, and it is seeking to <br />do so by committing to construct the remaining segment, from the <br />Arroyo del Valle bridge to Stanley Boulevard. <br /> <br /> G. The segment of Bernal Avenue from Arroyo del Valle to <br />Stanley Boulevard is planned as a four lane facility, but it can <br />function satisfactorily as a two lane roadway. A two lane <br />roadway is sufficient to lift the Vineyard Avenue moratorium. <br /> <br /> H. The segment of Bernal Avenue from the Arroyo del Valle <br />bridge to Stanley Boulevard traverses through property owned by <br />Messrs. Frank Auf der Maur and Konrad Rickenbach. They have done <br />preliminary engineering for this Bernal Avenue segment in <br />conjunction with development plans for their property. They have <br />a 20 acre commercial project (the Santa Anita Development <br /> <br /> - 1 - <br /> <br /> <br />