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THIRD AMENDMENT TO DEVELOPMENT DEFERMENT AGREEMENT <br /> <br /> THIS AGREEMENT is made and entered into this 7th day of May, <br />1985, by and between ROBERT E. FRANK, hereinafter referred to as <br />"Developer," and CITY OF PLEASANTON, a municipal corporation, <br />hereinafter referred to as "City." <br /> <br /> WHEREAS, City and Developer entered into a Development <br />Deferment Agreement dated January 12, 1982, in order to allow the <br />City and Developer the time necessary to properly plan for the <br />development of the site; and <br /> <br /> WHEREAS, City and developer entered into two subsequent <br />amendments extending the time within which building permits can <br />be obtained to May 20, 1985; and <br /> <br /> WHEREAS, because depressed economic conditions have precluded <br />completion of the project and additional time is necessary to <br />allow proper planning in light of new economic conditions, it is <br />desirable to extend the Development Deferment Agreement as <br />hereinafter set forth. <br /> <br /> NOW, THEREFORE, THE PARTIES HERETO AGREE as follows: <br /> <br /> 1. Section 1 of the Development Defermerit Agreement as <br />amended is amended in its entirety to read as follows: <br /> <br /> "No building permits will be issued on the Property <br /> prior to November 5, 1985." <br /> <br /> 2. Section 2 of the Development Deferment Agreement as <br />amended is amended in its entirety to read as follows: <br /> <br /> "The effect of this Agreement is to extend until <br /> November 10, 1985, the time within which building <br /> permits can be obtained for the Property by Developer <br /> <br /> - 1 - <br /> <br /> <br />