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FIRST AMENDMENT TO DEVELOPMENT DEFERMENT AGREEMENT <br /> <br /> THIS AGREEMENT is made and entered into this day <br /> <br />of ............................~ ']_983~ by ana 'bet:~:,~eer'~ ROBERT E, FRANK (hereinafter <br /> <br />referred to as "Developer") and the CITY OF P!~EASANTON, a <br />municipal corporation (hereinafter referred to as "City"). <br /> <br /> i~ E C i T .A L S <br /> <br /> WHEREAS C'.~y and Developer entered into a Development <br />t)cferment Agreement dated .Ianuary 12, 1982 in order to allow the <br />City and Developer the time necessary ~o properly plan for <br />the development of the site; and <br /> <br /> I,~EREAS, because depressed economic conditions have <br />precluded completion of the project and additional time is <br />necessary to allow proper p]_anninK in light of new economic <br />conditions. it is desirable to extend the development defement <br />agreement for one year; <br /> <br /> NOW, THEREFORE, the parties hereto agree as follows: <br /> <br /> 1. Section 1 of the Development Deferment Agreement is <br />amended in its entirety to read as follows: <br /> <br /> "No building permits will be issued on the Property <br /> <br /> prior to May 15, 1984." <br /> <br /> 2. Section 2 of the Development Deferment Agreement. is <br />amended j.n its entirety to read as follows: <br /> <br /> "The effect of this Agreement is to extend until May 20, <br /> 1984 the time within which building permits can be <br /> obt'ai.r~ed for the Property by Developer without the <br /> expi~ration of all or any portion of the Sewer Permits." <br /> <br /> ~-1.-- <br /> <br /> <br />