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~~ <br />,r ~ <br />AGREEMENT FOR IMPLEMENTATION OF GMP <br />EXEMPTION PURSUANT TO RESOLUTION NO. 84-232 <br />THIS AGREEMENT is made and entered into this /~~ day of <br />December, 1984, by and between ^T~T^mr~rT.-.mT ^T.T .,/1T?TTAT[), a <br />California /~%Yt~~F'c~/,A.E'TiUE',2a/it~(the "Developer") , and the CITY OF <br />PLEASANTON, a municipal corporation (the "City"). <br />RECITALS <br />A. Developer is the owner of an approximately 4.7 acre <br />parcel of land located at 3780 Vineyard Avenue, as described in <br />Exhibit "A" attached hereto and incorporated herein by this <br />reference (the "Property"). <br />B. Developer has received City PUD approval authorizing <br />construction of a 40-unit project, commonly known as Vineyard <br />Terrace, PUD-83-17, located on the Property (the "Project"). <br />C. On May 8, 1984, the City Council of the City of <br />Pleasanton approved Resolution No. 84-232 granting an exemption <br />from the City's Growth Management Program for the Project as a <br />lower-income housing project. <br />D. The Developer and the City wish to ensure that the <br />purposes of the lower-income exemption are achieved and wish to <br />formalize their mutual understandings of the requirements of the <br />exemption through this regulatory agreement <br />NOW, THEREFORE, in consideration of the mutual covenants and <br />undertakings set forth herein, and other goad and valuable <br />consideration, the receipt and sufficiency of which hereby are <br />acknowledged, the Developer and the City hereby agree as follows: <br />- 1 - <br />