RES 83525 - Laserfiche WebLink

E. Due to circumstances not foreseen at the time of execution of the Agreement and the First Amendment, it is in the public interest that only a portion of the Property be developed at this time and that, consequently, the parties agree that no building permits will be issued on certain lots comprising a portion of the Property prior to September 8, 1984. F. The parties also desire to set forth the under- standing of the parties regarding the expiration dates of the Sewer Permits (as defined in the Agreement) granted by Pleasanton with respect to the Property. NOW THEREFORE, in consideration of the mutual pro- visions and the sum of One Thousand Dollars ($1,000) being paid to Pleasanton as a processing fee concurrently herewith, the parties agree to amend the Agreement as follows: 1. Section 1 of the Agreement is amended in its entirety to read as follows: "1. Stoneson and Pleasanton acknowledge that the plan attached as Exhibit A hereto and made a part hereof accurately sets forth the lots comprising the Property. In order to provide for the phased and orderly develop- ment of the Property, Stoneson and Pleasanton hereby agree to allocate the Sewer Permits on a lot-by-lot basis, as more particularly set forth on Exhibit B attached hereto and made a part hereof. Stoneson and Pleasanton further agree that the 12 building permits issued in November 1983 with respect to Lot Nos. 1 through 3 and 8 through 16, inclusive, shall be deemed to correspond to, and will toll the expiration date of, 12 of the 37 Permits (as defined in the First Amendment). The 25 permits ("25 Permits") remaining out of the 37 Permits shall be allocated to the 25 lots ("25 Lots"), as more particularly set forth on Exhibits A and B. The 9 Permits shall be allocated to the 9 lots ("9 Lots"), as more -2-