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EXTENSION OF LONG TERM AGREEMENT <br />STONESON/WARMINGTON HOMES <br />THIS LONG TERM AGREEMENT EXTENSION AGREEMENT is made this <br />18th day of November, 1986 by and between WARMINGTON - MATHIS <br />CORP., a California corporation ("Owner") and the CITY OF <br />PLEASANTON, a municipal corporation ("City"). <br />R E C I T A L S <br />A. Owner is the owner in fee of certain real property of <br />approximately 6.687 acres (the "Property") situated in <br />Pleasanton, California and more particularly described as Parcel <br />A on Parcel Map 4382. <br />B. Owner is the successor in interest to rights and sewer <br />capacity created by the 1972 Settlement Agreement. The parcel is <br />part of Parcel D of Parcel Map 2509, which has 75.1 D.U.E.'s <br />allocated to it pursuant to the 1972 Settlement Agreement as <br />adjusted by the Long Term Agreement between the City and Stoneson <br />Development Corporation, entered into September 13, 1983 (the <br />"Long Term Agreement"). <br />C. Pursuant to the Long Term Agreement between City and <br />Stoneson Development Corporation, Parcel D of Parcel Map 2509 was <br />granted Growth Management approval for up to 114 apartment units <br />subject to receipt of the necessary planning and zoning approvals <br />for development from the City. By the terms of the Long Term <br />Agreement, Growth Management approval expires and shall be of no <br />further force and effect as to any of the 114 approved units for <br />which building permits have not been obtained by December 31, <br />1986. <br />D. The Property has an approved planned unit development <br />permit (PUD-85-12) which approves a 56 unit townhouse project on <br />the Property. On October 28, 1986, the City Council approved a <br />final map for the 56 unit townhouse project (Tract 5546). <br />E. Owner is requesting that the approval of the Long Term <br />Agreement be extended for six months as to 28 of the units within <br />its project. <br />NOW, THEREFORE, IN CONSIDERATION of the mutual provisions and <br />the sum of One Thousand Dollars ($1,000.00) being paid to City as <br />a processing fee concurrently herewith, the parties agree as <br />follows: <br />1. Growth Management approval to the subject parcel as <br />granted in the Long Term Agreement of September 13, 1983 shall be <br />extended and shall not expire as to twenty-eight (28) of the 114 <br />approved units until July 31, 1987. <br />2. Owner acknowledges and agrees that pursuant to Section <br />II(B)(5) of the Long Term Agreement, that all remaining sewer <br />- 1 - <br />