DAVIS - REIMBURSEMENT AGMT SOUNDWALL

RECORDING REQUESTED BY AND WHEN RECORDED, RETURN TO: City of Pleasanton P. 0. Box 520 Pleasanton CA 94566 REIMBURSEMENT AGREEMENT - SOUNDWALL THIS AGREEMENT is entered into at Pleasanton, California, this !~~' day of ~/-l~r~.Y , 198, by and between the CITY OF PLEASANTON, a general law city (hereinafter referred to as "City") and NOLAN M. DAVIS and VELIA E. DAVIS, husband and wife, as community property, (hereinafter referred to as "owner"). R E C I T A L S A. Nolan M. Davis and Velia E. Davis are the owners of certain real property in the City of Pleasanton, County of Alameda, State of California, APN 946-1101-33 (hereinafter referred to as the "Property"), located at the southeast corner of Pimlico Drive and Santa Rita Road. B. The City of Pleasanton is in the process of approving plans and specifications for the construction of certain soundwalls which are adjacent to residential uses.. C. As a condition of City of Pleasanton Ordinance No. 1349 and an initiative to be voted upon by the City of Pleasanton electorate on November 9, 1988, Owner or their successor in interest will be required to build the subject soundwall. D. In order to mitigate existing sound as well as future development impacts on the Property, City will construct the soundwall subject to being reimbursed for said soundwall construction. E. The proposed soundwall shall connect two existing soundwalls and be approximately 268 feet in length and eight feet tall. F. Reimbursement for said City construction shall occur only when a building permit is issued for development on this parcel. NOW, THEREFORE, it is mutually agreed as follows: 1. Improvements. The City shall be entitled to recover all costs of construction of a wall spanning approximately 268.5 feet with a height of eight (8) feet. The reimbursement fee shall be based upon the estimates of construction cost described and included in work described in Page 1