FIG HOLDING - STREET IMPROVEMENT AGMT

+ " ,t, RECEIVED STREET IMPROVEMENT AGI2EEMEIJT JAN 2 9 1982 DUBLIN CANYON ROAD AND FOOTHILL ROAD ' M. Arthur Gensler, Jr. @ Assoc. THIS AGREEMENT is made and entered into on the ~fi~-day of ~rUd , 1982, by and between F.I.G. HOLDING COMPANY (hereinafter referred to as Developer) and the CITY OF PLEASANTON, a municipal corporation (hereinafter referred ~to as City). The City and Developer agree as set forth below. RF.CTTAT.G THIS AGREEMENT is made with reference to the following facts and objectives: 1. Developer is the owner of real property in the City of Pleasanton described in Exhibit A, attached to this agreement and made a part of it by this reference, which consists generally of an approximately fourteen (14) acre site located on Dublin Canyon Road and the west side of Foothill Road near its intersection with Inter- state 580. 2. Developer has applied for an received City approval to construct a 148,000 sq. ft. regional office on the above-described 14 acre site. 3. Dublin Canyon Road is essentially a road designed to rural standards which does not meet City street standards but is planned to be improved as properties along it develop. 4. As a condition of design review approval, the Developer is required to improve Dublin Canyon Road and Foothill Road per approved design review plans and to the satisfaction of the City Engineer. Said condition being a normal City requirement and agreed to by the Developer. NOW, THEREFORE, in consideration of the faithful performance of the promises, terms, conditions and covenants set forth herein by Developer, and the approval of the design review plans by the City, 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.