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WHEN RECORDED, RETURN TO: <br /> City Attorney <br /> P. 'O. Box 520 <br /> Pleasanton, CA 94566 <br /> <br /> LONG-TERM AGREEMENT (SHEA HOMES) <br /> <br /> THIS LONG-TERM AGREEMENT is made and entered into on the <br /> <br />day of May, 1986, by and between J. F. SHEA CO., INC. dba SHEA <br />HOMES, a Nevada Corporation (hereinafter referred to as <br />"Developer") and the CITY OF PLEASAMTON, a municipal corporation <br />(hereinafter referred to as "City"). The Developer and City <br />agree as set forth below. <br /> <br /> RECITALS: <br /> <br /> A. Developer owns real property in the City of Pleasanton <br />described in Exhibit A, attached to this agreement and made a <br />part of it by reference, which consists generally of 42.4 acres <br />(A.P.N. 946-1151-46), (hereinafter referred to as the "Subject <br />Property"). <br /> <br /> B. The City has approved PUD-83-8 by Ordinance No. 1086 <br />granting development plan approval for 343 dwelling units. One <br />hundred of those units have already been built pursuant to Tract <br />Nos. 5248 and 5391. Two hundred forty-three units remain to be <br />built on the 42.4 acre remainder parcel of Tract 5391 <br />(hereinafter referred to as the "Project"). <br /> <br /> C. Developer is seeking growth management approval for the <br />Project under the City's Growth Management Program. <br /> <br /> - 1 - <br /> <br /> <br />