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EXCHANGE AGREEMENT <br /> <br /> THIS REAL PROPERTY EXCHANGE AGREEMENT ("Agreement") is <br /> entered into as of this 16th day of December , 1986 by <br /> and between THE CITY OF PLEASANTON ("City"), a municipal <br /> <br /> corporation of the State of California, and CASTLEWOOD <br /> PROPERTIES, INC. ("Developer"). <br /> <br /> RECITALS <br /> <br /> The parties hereto enter this Agreement predicated on the <br /> following facts and understandings: <br /> <br />--_ A. Government Code Section 37351 authorizes the City to <br /> exchange real property situated inside the city limits for the <br /> benefit of the City. <br /> <br /> B. The City presently owns real property (hereinafter <br /> "Parcel A") consisting of approximately 5.2 acres more <br /> particularly described in Exhibit "A", attached hereto and <br /> <br /> incorporated herein by this reference. <br /> <br /> C. Parcel A is not particularly useful as a city park due <br /> to steep slopes on approximately 2.5 acres and the relationship <br /> of the total parcel to the remaining park and adjacent school <br /> property. <br /> <br /> D. Parcel B, described in Exhibit "A", attached hereto and <br /> incorporated herein by this reference, is part of a larger parcel <br /> of land given development plan approval for a single-family <br /> <br /> - 1 - <br /> <br /> <br />