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REIMBURSEMENT AGREEMENT <br />THIS AGREEMENT entered at Pleasanton, California, this ~f~jday of <br />/-~IAR.cN ~ 19~, by and between the <br />CITY OF PLEASANTON, a general law City, located in Alameda County, <br />California, (hereafter called "City") <br />and 1) EARL ADAMS and BARBARA ADAMS, 2) JOSEPH MADDEN 3) HANK CO. <br />Husband and wife, <br />(hereafter called "Developers") <br />is subject to the followingterms and conditions: <br />W I T N E S S E T H <br />WHEREAS, Developers are the owners of real property in the City of <br />Pleasanton, County of Alameda, State of California, as shown on Exhibit "A", <br />attached hereto and fully incorporated by reference herein; and, <br />WHEREAS, Developers have caused or will cause to be constructed a sewer <br />main extension in Old Santa Rita Road to the benefit of said and other <br />properties as shown on Exhibit "A"; and <br />WHEREAS, Pursuant to City Ordinance Code, Developer is entitled to <br />reimbursement for costs of said sewer main extension; and <br />WHEREAS, City has inspected and accepted or will inspect and accept <br />said facilities. <br />NOW THEREFORE, it is agreed as follows: <br />1. Upon completion and acceptance of the work, ownership of said <br />work shall vest in the City, with Developers having the right to connect <br />or the right to use said improvements, and the right to reimbursement as <br />provided below. <br />2. City and Developers hereby establish a mutual benefit district <br />to reimburse Developers for the cost of any portion of said improvements <br />benefiting land of others. Said reimbursements shall be subject to the <br />following conditions: <br />(a) Benefit area shall be those properties designated on <br />Exhibit "A" attached hereto and incorporated by reference herein with each <br />property bearing its proportionate share according to area as shown on <br />Exhibit "A", of the cost of said sewer line in Old Santa Rita Road. <br />(b) City shall collect a connection fee for said sewer facili- <br />ties pursuant to the calculations and engineering data set forth on <br />Exhibit "B" attached hereto and incorporated by reference herein. An <br />annual interest rate of twelve percent shall be added to all connection <br />charges collected pursuant to this agreement after June 30, 1981. <br />(c) Reimbursement to Developers shall be made by City from <br />connection fees collected pursuant to this agreement with ninety-five per- <br />cent (95~) of monies so collected to be paid to the Developers, according <br />to the percentages set forth on Exhibit "A", the remainder being retained <br />