PACIFIC BELL - AGREEMENT REGARDING STREET IMPROVEMENTS

AGREEMENT REGARDING STREET IMPROVEMENTS This Agreement is made and entered into as of the ~~'day of ~, 2000 by and between PACIFIC BELL TELEPHONE COMPANY ("Property Owner") and the CITY OF PLEASANTON ("City"), with reference to the following facts: A. Property Owner is the owner of real property commonly known as 7240 Johnson Drive in the City of Pleasanton, more particulazly described in Exhibit "A" attached hereto "Property")• B. The Property is the subject of design review approval which was conditionally approved by the City on February 9, 2000 by Planning Commission Resolution PC-2000-10 as filed under case PLrD- 82-19-6M. C. The conditions of approval for the design review require that Property Owner enter into an agreement with City to provide that Property Owner shall either not protest the establishment of an assessment district, or shall affirmatively vote for the creation of an assessment district or other mechanism, to pay the construction costs for the I-680/West Las Positas Boulevazd freeway interchange; D. Property Owner and City, by executing this Agreement, intend that it satisfy the foregoing condition of approval. NOW, THEREFORE, Property Owner and City agree as follows: 1. Establishment of Assessment District. Property Owner acknowledges that the City is considering esta fishing an assessment strict or other mechanism to pay the construction costs and related costs, including but not limited to engineering, City inspections, and financing, for the proposed I-680/West Las Positas Boulevard freeway interchange (the "Interchange Costs"). 2. Property Owner's Responsibilities. A. If City decides to form an assessment district or similar district (i.e., one in which owners of the property within the proposed district either must not protest or must affirmatively vote in favor of the formation of such district in order for the district to be formed) for the I-680/ West Las Positas interchange, Property Owner agrees that it either will not protest the establishment of the assessment (or similaz) district, or will affirmatively vote for the creation of such a district. Property Owner will retain the right to protest the size of the district, its make- up, the costs to be funded, the allocation of costs among various properties, any proposed funding mechanism, and any other aspect of the district. In no event will the Property, or any portion thereof, be assessed for more than its fair shaze of the Interchange Costs, based upon objective traffic studies using reasonable assumptions. B. Property Owner acknowledges that the City is considering other types of funding mechanisms to fund the Interchange Costs. These include, but aze not limited to, a