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STREET <br />IMPROVEMENT AGREEMENT <br /> <br /> CHABOT DRIVE IMPROVEMENTS <br />PLEASANTON, ALAMEDA COUNTY, CALIFORNIA <br /> <br />THIS AGREEMENT made and entered at Pleasanton, California this <br /> <br />23rd day of August, 1983 by and between: <br /> <br />THE PRUDENTIAL INSURANCE COMPANY OF AMERICA <br />5820 STONERIDGE MALL ROAD, SUITE 201 <br />PLEASANTON, CALIFORNIA 94566 <br /> <br />(hereinafter referred to as "Developer") and the CITY OF PLEASANTON, <br /> <br />a general law city, located in Alameda County, California, acting <br /> <br />through the Mayor and the City Clerk, (hereinafter referred to as <br /> <br />"City"). <br /> <br /> WHEREAS, Developer has filed with Alameda County Recorder a <br />Parcel Map No. 3858 describing property in the City of Pleasanton; and <br /> <br /> W~IEREAS, Developer desires to improve the <br />constructing Chabot Drive as more particularly <br />plan labeled Exhibit "A". <br /> <br />access to said property <br />shown on the attached <br /> <br /> NOW, THEREFORE, in consideration of the faithful performance of <br />the promises, terms, conditions and covenants set forth herein by <br />Developer and the approval of the map for recording by the City the <br />parties hereto agree as follows: <br /> <br /> 1. Time of Essence. Time is of the essence in the performance <br />of this agreement. The work and improvements required by this agreement <br />to be completed by the Developer shall be completed within one (1) year <br />from the above-mentioned date of this agreement subject to delays beyond <br />the control of Developer and to the continuing validity of all govern- <br />mental approvals granted in connection with the development of Hacienda <br />Business Park, Pleasanton Park Business Center, and Meyer Business Center. <br /> <br /> The City shall extend the time for completion of improvements <br />hereunder, upon good cause being shown by the Developer. Any such <br />extension may be granted without notice to the Developer's surety, <br />and extension so granted shall not relieve the the surety's liability <br />on the bond to secure the faithful performance of this agreement. <br /> <br /> 2. Work. Provided the City obtains the easements, rights-of-way <br />and other property rights necessary to construct the work, developer <br />will do or cause to be done and penformed the following described work: <br /> <br /> <br />