SAVCO CONSTRUCTION - SUBDIVISION AGREEMENT - OAK PARK

• t ` • .. r e 3 SUIIDIVISION AGREEI~tENT TRACT NO. 4?63, OAK PARK , PLEASANTON ALA1tiIEDA COUN^l Y, CALIlORNIA THIS AGREEMENT made and entered at Pleasanton, California this February 25, 1981 by and. between: SAVCO COI`dSTRUCTICN COI.4PANY 5510 SUNOL BLVD., SUITE A P.O. Box 667 PLEASANTON, CA 94566 (hereinafter referred to as "Subdivider") and. the CLTY OF PLEASANTON, a general law city, located in Alameda County, California, acting through the City bsanager 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 anal subdivision of land designates 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 ar extension of certain City services at Subdivi.der';, eyp~nsa ar<d certain protections for the City on bohalf of the public. NOLV, T~iEP;EEOFtE, in consideration of the faithful performance of the prcmise:~, 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 agree- ment to be completed by Subdivider shall be completed within one (l) year from the above-mentioned date of this. agreerrtent. The City .may extend the time far completion of improvements hereunder., upon good cause being shown by the Suk:~divider. Any such extension may be granted without notice to the Subdivider's surety, and extension so granted shall not relieve the surety's liability on the bond to secure the faithful performance of this agreement.