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REIMBURSEMENT AGREEMENT <br /> STONERIDGE EXTENSION STUDIES <br /> <br /> THIS AGREEMENT is made and entered into this day of <br />November, 1986, by and between Y. M. CHU, M. L. CHU, E. Y. CHOI, <br />M. M. GAHRAHMAT and M. B. GAHRAHMAT (hereinafter collectively <br />referred to as "Stoneridge Drive Extension Property Owner") and <br />the CITY OF PLEASANTON, a municipal corporation (hereinafter <br />referred to as "City"). <br /> <br /> R E C I T A L S <br /> <br /> A. City contracted with TJKM to prepare a traffic study for <br />extension of Stoneridge Drive, improvements to E1 Charro Road, <br />and recommendations for the intersection of Stoneridge drive and <br />E1 Charro Road. <br /> <br />B. City contracted with Charles M. Salter Associates, Inc. <br />(hereinafter referred to as "Salter") to prepare a traffic noise <br />study for the proposed Stoneridge Drive Extension Corri~dor. <br /> <br /> C. Stoneridge Drive Extension Property Owner owns <br />undeveloped frontage along the proposed extension of Stoneridge <br />drive and desires to participate in funding traffic studies <br />related to traffic impacts on its property. <br /> <br /> D. The City entered into agreements with TJKM and Salterto <br />prepare a traffic study and traffic noise study. The total cost <br />of both studies is not to exceed Fifteen Thousand Five Hundred <br />and 00/100 Dollars ($15,500.00). <br /> <br /> E. The purpose of this Agreement is to set forth the <br />understanding of the parties relating to Stoneridge Drive <br />Extension Property Owner reimbursing the City for 29.27% of the <br />costs of the traffic study and traffic noise study. <br /> <br /> THE PARTIES HEREBY AGREE AS FOLLOWS: <br /> <br /> 1. Stoneridge Drive Extension Property Owner shall pay an <br />amount not to exceed Four Thousand Five Hundred Thirty-eight and <br />04/100 Dollars ($4,538.04) for its portion of the total costs <br />incurred pursuant to the agreements between City and TJKM and <br />Salter, and as said agreements have been and may be modified from <br />time to time. Stoneridge Drive Extension Property Owner shall <br />pay City within thirty (30) days of receipt of a written request <br />from City for reimbursement of costs the City has incurred <br />pursuant to the agreements entitled "Contract for Consultant <br />Services, Stoneridge Drive Extension Traffic Study" and "Contract <br />For Consultant Services, Stoneridge Drive Extension Traffic Noise <br />Study." <br /> <br /> 2. If either party commences an action against the other to <br />enforce or interpret this Agreement, the prevailing party shall <br /> <br /> - 1 - <br /> <br /> <br />