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GROWTH MANAGEMENT AGREEMENT THIS GROWTH MANAGEMENT AGREEMENT is made and entered into on the 6th day of August, 2013, between RING FINANCIAL, INC, a California corporation, ("Developer"), and the CITY OF PLEASANTON, a municipal corporation("City"). RECITALS: A. Developer owns a legal or equitable interest in real property ("the Subject Property") in the City of Pleasanton. B. The City has granted to Developer development plan approval (PUD-87) for a high-density residential/commercial development("the Project"). C. The residential units are being developed consistent with the Housing Site Development Standards and Design Guidelines. D. City may enter into growth management agreements with project developers under the City's Growth Management Ordinance. E. City and Developer wish to enter into a growth management agreement in order to achieve the benefits of the Project to City and its residents and in accordance with the purposes of the City's Growth Management Ordinance. NOW,THEREFORE,in consideration of the mutual promises expressed herein, City and Developer hereby agree as follows: I. GROWTH MANAGEMENT APPROVAL A. City hereby grants growth management approval to the Project for 345 units in 2014. If Developer does not pull building permits for all 345 units in 2014, Developer may pull building permits in the year or years following 2014 until Developer has pulled building permits for all 345 units. B. Developer will use its best efforts to project the year or years in which it will obtain building permits as provided in this Agreement and will keep the City informed of the year or years in which Developer estimates that it will obtain such building permits so that the City may allocate growth management approvals for other developers in order lo accommodate Developer's development schedule. II. PROJECT CONDITION Nothing herein shall reduce any obligation of Developer required as a condition of any other approvals granted by the City. 1