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GROWTH MANAGEMENT AGREEMENT <br />THIS GROWTH MANAGEMENT AGREEMENT is made and entered into on the <br />151'' day of Apri12003, between NEW CITIES DEVELOPMENT GROUP, ("Developer"), <br />and the CITY OF PLEASANTON, a municipal corporation ("City"). <br />RECITALS: <br />A. Developer owns real property ("the Subject Property") in the City of Pleasanton, <br />within the North Sycamore Specific Plan Area, and has received approval of 48 lot residential <br />project ("the Project"). <br />B. Developer has requested growth management approval for the Project under the <br />City's Growth Management Program by which the Project would have the following <br />development schedule: <br />2004 24 units <br />2005 24 units <br />C. City may enter into agreements for growth management with project developers <br />meeting the requirements for such agreements pursuant to the City's Growth Management <br />Program Ordinance. <br />D. City and Developer wish to enter into a growth management agreement in <br />accordance with the purposes of the City's Growth Management Program Ordinance. <br />NOW, THEREFORE, in consideration of the mutual promises expressed herein, City <br />and Developer hereby agree as follows: <br />I. GROWTH MANAGEMENT APPROVAL <br />A. Subject to Chapter 17.36 of the Pleasanton Municipal Code, City hereby grants <br />growth management allocation for the Project according to the following schedule: <br />2004 24 units <br />2005 24 units <br />B. As to these units, Developer designates the following as production units and as <br />custom lots: <br />Production Units: 48 <br />Custom Lots: 0 <br />