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DEVELOPb~NT DEFEKMENT AGREEMENT <br /> \ <br /> <br /> THIS AGREEF~NT is entered into as of i~ 1984, by and <br /> <br />between THE CITY OF PLEASANTON, a municipal corporation (the <br />"City"), and ~ELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee <br />under its Trust No. 5-102510 for the benefit of STONERIDGE <br />PROPERTIES, a California limited partnership ("Properties"), and <br />is executed with reference to the following circumstances: <br /> <br /> RECITALS <br /> <br /> A. This Agreement refers to the development and allocation <br /> <br />of sewer capacity to that commercial development in north Pleasanton <br />commonly known as the Stoneridge Shopping Center Project ("Stoneridge <br />Project"). The Stoneridge Project is comprised of the elliptical <br />area of land within Stoneridge Mall Road commonly known as the <br />Stoneridge Regional Retail Shopping Center ("Center") and certain <br />parcels adjacent thereto commonly known as Stoneridge Peripheral <br />~ ~eripheral Land"), all as more particularly depicted on the <br />plat attached hereto as Exhibit A. <br /> <br /> B. The Taubman Company, Inc., as agent for Properties and <br /> <br />for the then owner of the Peripheral Land, purchased, for the <br />initial development of the Center and the Peripheral Land, from <br />the City and the Dublin San Ramon Services District ("District") <br />an aggregate allocation of sewer discharge capacity in the amount <br />of 149,700 gallons per day (the "Original Capacity"). The Original <br />Capacity was acquired in respect of the Stoneridge Project pursuant <br />to that Agreement, dated November 8, 1972, between the City, the <br /> <br />1 <br /> <br /> <br />