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FOURTH ~MEND~ENT TO DEVELOPMENT DEFERMENT ~G~EE~ENT <br /> <br /> THIS AGREEMENT is made and entered into this 15th day of <br />October, 1985, by and between ROBERT E. FRANK, hereinafter <br />referred to as "Developer," and CITY OF PLEASANTON, a municipal <br />corporation, 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 three subsequent <br />amendments extending the time within which building permits can <br />be obtained to November 5, 1985; and <br /> <br /> WHEREAS, because depressed economic conditions have <br />precluded completion of the project and additional time is <br />necessary to allow proper planning in light of new economic <br />conditions, it is desirable to extend the Development Deferment <br />Agreement as hereinafter set forth. <br /> <br /> NOW, THEREFORE, THE PARTIES HERETO AGREE as follows: <br /> <br /> 1. Section 1 of the Development Deferment 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 April 1, 1986." <br /> <br /> - 1 - <br /> <br /> <br />