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FIRST AMENDMENT TO <br />AFFORDABLE HOUSING PROGRAM AGREEMENT <br /> <br /> THIS AGREEMENT is made and entered into this day of <br /> <br />July, 1984, by and between HOMESTEAD DEVELOPMENT C.O}~ANY, a <br />California corporation, (hereinafter referred to as "Developer") and <br />the CITY OF PLEASANTON, a municipal cornoration, (hereinafter referred <br />to as "City"). <br /> <br /> RECITALS <br /> <br /> WHEREAS, the Developer and the City have entered into an <br />agreement dated June 22, 1982 (the "Agreement") which provides <br />for the Agreement to be terminated 24 months from the date of <br />approyal of the final map unless extended on terms mutually <br />acceptable to the parties; and <br /> <br /> WHEREAS, pursuant to said Agreement, the Developer has <br />completed construction of all the "Patio Homes," preparation <br />of the final map for the "Townhouse~' and is ready to expeditiously <br />complete the Townhouse phase of the project; and <br /> <br /> WHEREAS, Developer has indicated that he intends to begin~ <br />construction of the Townhouses as soon as possible and will <br />continue construction in an unbroken fashion, with all units <br />completed within eighteen (18) months; and <br /> <br /> WHEREAS, the Developer has agreed to offer the first phase <br /> <br />of the Townhouses for sale at the price shown in the Agreement; and <br /> <br /> ~IEREAS, the City Council has determined that extending <br /> <br />the Agreement is in the best interests of the public health <br /> <br />and welfare. <br /> <br />-1- <br /> <br /> <br />