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COST REIMBURSEMENT AGREEMENT (Boulder Street Extension -East of Quarry Lane to West of Valley Avenue) THIS AGREEMENT ("Agreement") is entered into this S~ day of + ~'~- , 2002 by and between the CITY OF PLEASANTON, a municipal corporation ("City"), and P, J & B Project, LLC, a California limited liability corporation ("Developer"). RECITALS A. In conjunction with Developer's construction of three industrial buildings, each 30,000 square feet in size, pursuant to Planning Commission approval Z-99-79 on a portion of real property in the City of Pleasanton, County of Alameda, State of California, described as 19 acres (which have been subdivided into four parcels pursuant to Zoning Administrator approval MS-99-03) at 3700 Boulder Street ("the Property"), Developer constructed the extension and improvement of Boulder Street from east of Quarry Lane to west of Valley Avenue (the "Improvements") which has benefit for the Property and other property in the vicinity. B. Developer's costs for on-site improvements related to its subdivision and buildings, plus the Improvements, was approximately $730,000. Developer incurred expenses in excess of its pro rata share with regard to the Improvements for which it seeks reimbursement. Developer's consulting engineer has prepared an estimate for reimbursement which include cost of the improvements for one half of the Boulder Street which is the north portion of the street fronting Utility Vault Company, APN 946-1251- 002-04 (Exhibit "A", 1 of 2 and 2 of 2) NOW, THEREFORE, in exchange for mutual consideration, the receipt and value of which is hereby acknowledged, the parties agree as follows: Section 1. Improvements. ~,,..-- The Improvements which have been constructed by the Developer are described more particularly as Boulder Street Plans and Profile, sheets 3-5 of Improvement plans for Parcel Map 7493; including utilities, storm drain, paving, curb and gutter, sidewalks, striping, signs, lighting and other required improvements. Section 2. Reimbursable Amount. By constructing the Improvements, Developer has made contributions in excess of its pro rata share, and is entitled to reimbursement of two hundred and three thousand