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IMPROVEMENT AGREEMENT <br /> <br /> HOPYARD-INTERSTATE 580 INTERCHANGE <br /> IMPROVEMENTS - PHASE 1A <br /> PLEASANTON, ALAMEDA COUNTY, CALIFORNIA <br /> <br /> THIS AGREEMENT is made and entered this day of <br /> , 1985 by and between: <br /> <br /> THE PRUDENTIAL INSURANCE COMPANY OF AMERICA <br /> 4637 Chabot Drive, Suite 203 <br /> Pleasanton, California 94566 <br /> <br /> (hereinafter referred to as "Developer") and the CITY OF <br /> PLEASANTON, a municipal corporation (hereinafter referred to as <br /> "City"). <br /> <br /> WITNESSETH: <br /> <br /> WHEREAS, the City, through the proposed North Pleasanton <br />Improvement District, has planned to widen and improve the <br />interchange at Hopyard Road-Dougherty Road-Interstate-580; and <br /> <br /> WHEREAS, CalTrans has give preliminary approval of the <br />proposed improvements and shall have final authority over the <br />plans and specifications, said final approval is anticipated to <br />have been received prior to execution of this agreement; and <br /> <br /> WHEREAS, Developer wishes to construct the first phase of <br />improvements in advance of the formation of the North Pleasanton <br />Improvement District in order to reduce traffic congestion as <br />early as is feasible; and <br /> <br /> WHEREAS, the City desires the early construction of the <br />improvements for the benefit of its citizens and may provide for <br />the reimbursement and/or credit of Developer for the costs <br />therefor upon the formation of the North Pleasanton Improvement <br />District; <br /> <br /> NOW, THEREFORE, in consideration of the faithful performance <br />of the promises, terms, conditions and covenants set forth <br />herein, the parties hereto agree as follows: <br /> <br /> 1. Time of Essence. Time is of the essence in the <br />performance of this agreement. The work and improvements <br />required by this agreement to be completed by Developer shall be <br />completed within six (6) months from the date of this agreement, <br />subject to delays beyond the control of Developer. <br /> <br /> The Director of Pubic Works of the City shall extend the time <br />for completion of improvements upon good cause being shown by the <br />Developer, including delays due to inclement weather. Any such <br />extension shall be made in writing and may be granted without <br /> <br /> - 1 - <br /> <br /> <br />