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VALLEY AVENUE EXTENSION AGREEMENT (KAISER) <br /> <br /> THIS is entered into this day of, <br /> <br />1986, by and between the CITY OF PLEASANTON, a municipal corpora- <br />tion (hereinafter referred to as "City" ) and KAISER SAND AND <br />GRAVEL COMPANY, a Delaware corporation (hereinafter referred to <br />as "Kaiser" ) . <br /> <br /> RECITALS <br /> <br /> A. Kaiser owns parcels of land within the City limits of <br />pleasanton in the vicinity of the proposed Valley Avenue exten- <br />sion (APN 946-1250-19-1 consisting of approximately 73.39 acres <br />and APN 946-1251-7-2 consisting of approximately 0.88 acres) <br />(hereinafter referred to collectively as "Kaiser Property"). <br /> <br /> B. In August 1985, The California Public Utilities Commis- <br />sion (PUC) approved three at-grade crossings in and adjacent to <br />the proposed Valley Avenue between Santa Rita Road and Stanley <br />Boulevard (Decision 85-08-037). Subsequently, the City entered <br />into a Memorandum of Understanding ("MOU") with the Southern <br />Pacific Transportation Company (SPTCo) and the Western Pacific <br />Railroad (WPRR). Pursuant to that MOU, the City applied to the <br />PUC for a modification to Decision No. 85-08-037 to permit a <br />grade separation rather than an at-grade crossing at the point <br />where Valley Avenue intersects the WPRR main line. On March 5, <br />1986, the PUC approved that proposed grade separation (PUC Deci- <br />sion 86-03-044). <br /> <br /> - 1 - <br /> <br /> <br />