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right-of-way for which is shown and described in Exhibits <br /> <br /> "B" and "B-i", respectively; and <br /> <br /> WHEREAS, Owners would normally be required to dedicate <br /> <br /> the right-of-way for, and construct a portion of, the above <br /> described Del Valle Parkway upon subdivision and development <br /> of the Property; and <br /> <br /> WHEREAS, the City desires to have the above-described <br />portions of the Del Valle Parkway constructed to provide a <br />usable street connection from Vineyard Avenue to Stanley <br />Boulevard via California Street at the earliest possible <br />time, with construction beginning during the summer of 1983; <br />and <br /> <br /> WHEREAS, the City is willing to pay for and construct <br /> <br />the above-described portion of Del Valle Parkway as a usable <br />street in advance of Owners desire to subdivide and develop <br />the Property, subject to reimbursement by Owners at the time <br />Owners would ordinarily have dedicated and improved the Del <br />Vatle Parkway in the ordinary course of subdividing and <br />improving the Property; <br /> <br /> NOW, THEREFORE, in consideration of the faithful performance <br />of the promises, terms, conditions and covenants set forth <br />herein, the parties hereto agree as follows: <br /> <br /> 1. Right-of-Way ~eed. Owners shall execute a Gr~nt <br /> <br />Deed for the necessary right-of-way for the proposed Del <br />Valle Parkway, essentially as shown and described in Exhibits <br />"B" and "B-I", respectively, upon execution of this agreement. <br /> <br /> -2- <br /> <br /> <br />