KAUFMAN AND BROAD - REIMBURSEMENT AGMT INTERIM STREET IMPROVEMENTS TO STANLEY BLVD.

REIMBIIRSEMENT AGREEMENT FOR INTERIM STREET IMPROVEMENTS TO STANLEY BOIILEVARD THIS AGREEMENT is entered into at Pleasanton, California, this -1.~-N~ day of /I-'f~}~/ , 1993, by and between the City of Pleasanton, a general law city ("City") and RAIIFMAN and BROAD- -SOUTH BAY, INC., a California corporation ("Developer"). A. Developer is the owner of .certain real property in the City of Pleasanton, County of Alameda, State of California, commonly known as "California Reflections", 3801 Stanley Boulevard, Assessor's Parcel No. 946-1680-28-1, consisting of approximately 17 acres ("Property"). After receiving approval pursuant to PUD-91-17, Developer has obtained City approval of a final subdivision map, Tract 6545, for a 108 lot single-family detached residential development on the Property. B. In connection with .the development of the above described Property, Developer intends to construct or cause the construction of interim street improvements along Stanley Boulevard that will be retained with the ultimate improvements, south of the proposed Stanley Boulevard centerline, that will benefit the Property and other properties more fully. described below. C. Pursuant to the Subdivision Map Act (Government Code section 66410, et sea•), Developer is entitled to reimbursement for. certain costs of the street improvement costs and related improvements and the City is willing to administer the reimbursement of costs to Developer as set forth herein. NOW, THEREFORE, it is agreed as follows: 1. Improvements. The street improvements by the Developer will benefit other properties in addition to the Property. Developer is entitled to recover some of the costs of such construction work for the street improvements and related public improvements from other property owners who benefit from these improvements when the subject properties develop. The construction work to be performed by the Developer subject to reimbursement shall include the work described in Exhibit A attached hereto and incorporated herein by this reference. 2. Reimbursable Costs. The amount of the reimbursement shall be based upon the estimates of construction cost included in Exhibit A. However, within 60 days after completion of the interim street improvements to be retained with the ultimate Stanley Boulevard improvements and related public improvements, Developer shall submit the City Engineer actual costs. of the construction work, certified by the Developer. Thereafter, the City Engineer shall review for appropriateness using a standard _ 1 _