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DEVELOPMENT DEFERMENT AGREEMENT <br /> <br /> THIS DEVELOPMENT DEFERMENT AGREEMENT (the "Agreement") is <br /> made this 26th day of February, 1985, by and between VALLEY <br /> MEDICAL ASSOCIATES, a California general partnership, <br /> (hereinafter referred to as "Developer") and THE CITY OF <br /> PLEASANTON, a municipal corporation~ (hereinafter referred to as <br /> "City") . <br /> <br /> RECITALS <br /> <br /> A. Developer is the owner of certain incorporated property <br />(the "Property") of approximately 3.8565 acres located in <br />Pleasanton, California bounded generally by Santa Rita Road and <br />West Las Positas Boulevard, more particularly described as Parcel <br />2 of Parcel Map 451 (Portion) and as shown in Exhibit "A", <br />attached hereto and incorporated herein. <br /> <br /> B. Developer has purchased and now has outstanding 12.5 <br />D.U.E. (Dwelling Unit Equivalent) sewer-system connection permits <br />for use in development of the Property. These permits were <br />issued by the Dublin-San Ramon Services District ("DSRSD") <br />pursuant to Alameda County Superior Court Order in Civil Action <br />No. 423134 filed December 19, 1972 (the "Court Order") to First <br />Pleasanton Investors as part of 214 permits encompassing, among <br />other lands, a site designated as "8 acres commercial, Tract <br />2639, Santa Rita and West Las Positas Boulevard." Twenty-five of <br />these permits were subsequently assigned to Meadow Plaza <br />Associates for the eight acre site and half of those have since <br />been assigned to Developer for use on the northerly portion of <br />the eight acre site (the "Property"). <br /> <br /> C. Pursuant to the 1972 Court Order, building permits must <br />be obtained within three (3) years after purchase of any <br />sewer-system connection permits, or such sewer permits shall be <br />canceled. <br /> <br /> D. Paragraph 8 of Exhibit B to the Agreement, attached to <br />and incorporated in the 1972 Court Order, provides that where an <br />owner/developer is precluded from obtaining the necessary <br />building permits for a specified period of time by reason of <br />action by a governmental agency, the three-year deadline for <br />obtaining building permits will be extended for an amount of time <br />equal to the time specified in the written contract. <br /> <br /> E. The Property was general plan designated "Commercial and <br />Offices" at the time the sewer permits became usable pursuant to <br />the Court Order (April 6, 1981), was changed to a' residential <br />designation on December 13, 1982, and was redesignated <br />"Commercial and Offices" on December 6, 1983o The running of the <br />three-year tinge to secure building permits was tolled during the <br />time the Property was designated residential. The three-year <br /> <br /> <br />