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FIRST AMENDMENT TO DEVELOPMENT DEFERMENT AGREEMENT <br /> <br /> THIS AGREEMENT is made and entered into this day <br /> <br />of , 1983, by and between ROBERT E. FRANK (hereinafter <br /> <br />referred to as "Developer") and the CITY OF PLEASANTON, a <br />municipal corporation (hereinafter referred to as "City"). <br /> <br /> RECITALS <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 <br />the development of the site; and <br /> <br /> WHEREAS, because depressed economic conditions have <br />precluded completion of the project and additional time is <br />necessary to allow proper plannin~ in light of new economic <br />conditions, it is desirable to extend the development deferment <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 in 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 /> obtained for the Property by Developer without the <br /> expiration of all or any portion of the Sewer Permits ." <br /> <br /> -1- <br /> <br /> <br />