CALLAHAN - REIMBURSEMENT AGMT May 2003

~ ~ REIMBURSEMENT AGREEMENT THIS REIMBURSEMENT AGREEMENT is made this ~-~-day of ~~~ , 2003 between the City of Pleasanton (City) and Michael J. Callahan (Developer), with reference to the following recitals: A. Developer is the owner of certain real property at 1188 Vineyard Avenue, Pleasanton, California (the Property) and for the property Developer has received approval from the City to develop thereon a residence and an event center (the Project). B. As a condition of the Project, Developer has agreed to construct a left hand turn lane/pocket from Vineyard Avenue to the Property. C. City has plans to make certain other significant improvements to Vineyard Avenue. D. The parties agree that it would make economic sense for the work that Developer is obligated to perform to be undertaken in conjunction with the work that the City intends to undertake on Vineyard Avenue. E. Developer is willing to pay for its portion of the work. NOW, THEREFORE, in consideration of the mutual promises and obligations herein, the parties agree as follows: 1. City shall construct, or cause to be constructed, the left hand turn lane/pocket that Developer is required to construct as part of the Project. The preliminary plans for this work have been prepared by RJA and Associates, are dated December 26, 2002, and have been reviewed by City. 2. Developer shall reimburse City for the actual cost of this work, which work has been estimated at $36,180. 3. Prior to the work for Developer being performed, City shall provide to Developer a detailed written proposal for the work; .Developer shall have sever working days to review the proposal. If Developer does not object in writing within the seven working days, Developer shall pay City the amount of the written proposal and City shall have the work for the Property performed as part of the other Vineyard improvements. 4. It is anticipated that the construction of the Vineyard improvements will begin in the summer of 2003 and be completed by fall of 2003; if construction or completion of the improvements is delayed through no fault of Developer, City shall not, for that reason, deny Developer an occupancy permit for the proposed residence and/or event center on the Property.