CALLAHAN-PENTZ STREET IMPROVEMENT AGREEMENT

.~ ~ ~ STREET IMPROVEMENT AGREEMENT STOr1ERIDGE DRIVE AND WEST LAS POSITAS BOULEVARD PLEASANTON, ALAMEDA COUNTY, CALIFORPIIA (CPS PORTION) THIgqS AGREEMENT made and entered at Pleasanton, California this c}- by and between: CALLAHAN - PENTZ PROPERTIES, PLEASANTON, A CALIFORNIA GENERAL PARTNERSHIP 5820 STONERIDGE D4P,LL ROAD, SUITE 300 PLEASANTON, CALIFORNIA 94566 (hereinafter referred to as "Developer") and the. CITY OF PLEASANTON, a general law city, located in Alameda County, California, acting through the City Manager and the City Clerk (hereinafter referred to as "City"). WHEREAS, Developer has filed with the City of Pleasanton a proposed Tentative Subdivision DZap for Tract 4857, in the City of Pleasanton; and WHEREAS, Developer desires to improve the: access within said proposed subdivision by constructing portions of 5toneridge Drive and West Las Positas Boulevard within the proposed subdivision in accordance with the City's General Plan. NOW, THEREFORE, in consideration of the faithful performance of the promises, terms, conditions, and covenants set forth herein by Developer and the agreement by the City to inspect these improvements and accept them for maintenance upon satisfactory completion, the parties hereto agree as follows: 1. Time of Essence. Time is of the essence in the performance of this agreement. The work and improvements required by this agree- ment to be completed by Developer shall be completed within one (1) year from the above-mentioned date of this agreement. The City may. extend the time for completion of improvements hereunder, upon good cause being shown by the Developer. Any such extension may be granted without notice to the Developer's surety, and extension so granted shall not relieve the surety's liability on the bond to secure the faithful performance of this agreement. 2. Gdork. Developer will do or cause to be done and performed the following described work: a. Improvements pursuant to Improvement Plans for 5toneridge Drive and. West Las Positas Boulevard within Tract 4857, Hacienda Business Park, Pleasanton, California, The Callahan - Pentz Properties Pleasanton portion, dated June 1982..