MARDEL - SUBDIVISION AGREEMENT - VINEYARD AVENUE

SUBDIVISION AGREEMENT TRACT NO. 7160 and PM 7481, Vineyard Avenue, PLEASANTON ALAMEDA COUNTY, CALIFORNIA THIS AGREEMENT made and entered at Pleasanton, California, this 15th day of June, 2004, by and between: Mardell LLC, A California Limited Liability Company 2552 Stanwell Drive, Suite 203 Concord , CA 94520 925-603-1745 (hereinafter referred to as "Subdivider") 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, Subdivider has a tentative map for said tract, lying within the boundaries of the City; duly approved by the Planning Commission or the City Council; and WHEREAS, all or a portion of the area of the tentative map is presented as a "final map," a copy of said map is on file in the office of the City Engineer, and by reference is included in this Agreement for all purposes as if attached hereto; and WHEREAS, said map and subdivision of land designates streets, easements and public ways for the City, and Subdivider proposes to dedicate this land set forth in the final map to the City; and WHEREAS, as a condition precedent to accepting this offer of dedication by Subdivider, City requires the improvements of the public ways, installation or extension of certain City services at Subdivider's expense and certain protection for the City on behalf of the public. NOW, THEREFORE, in consideration of the faithful performance of the promises, terms, conditions and covenants set forth herein by Subdivider and the approval of the map for recording 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 Agreement to be completed by SUBDIVISION AGREEMENT TRACT NO. 7160 and PM 7481, Vineyard Avenue Page 1 of 8