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i3407i e" <br /> GROWTH MANAGEMENT AGREEMENT <br /> THIS GROWTH MANAGEMENT AGREEMENT is made and entered into on the 16th <br /> day of April, 2013, between Pleasant Partners, LLC, a Delaware limited liability company, <br /> ("Developer"), 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 /> B. The City has granted to Developer development plan approval (PUD-85-08-1D- <br /> 4M) for a high-density residential/commercial development ("the Project"). <br /> C. The units are being developed consistent with the Housing Site Development <br /> Standards and Design Guidelines. <br /> D. City may enter into growth management agreements with project developers <br /> under the City's Growth Management Ordinance. <br /> E. City and Developer wish to enter into a growth management agreement in order <br /> to achieve the benefits of the Project to City and its residents and in accordance with the <br /> purposes of the City's Growth Management 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. City hereby grants growth management approval to the Project for 305 units in <br /> 2014. If Developer does not pull building permits for all 305 units in 2014, Developer may pull <br /> building permits in the year or years following 2014 until Developer has pulled building permits <br /> for all 305 units. <br /> B. Developer will use its best efforts to project the year or years in which it will <br /> obtain building permits as provided in this Agreement and will keep the City informed of the year <br /> or years in which Developer estimates that it will obtain such building permits so that the City <br /> may allocate growth management approvals for other developers in order to accommodate <br /> Developer's development schedule. <br /> II. PROJECT CONDITION <br /> Nothing herein shall reduce any obligation of Developer required as a condition of any <br /> other approvals granted by the City. <br /> III. SUCCESSORS IN INTEREST <br /> This Agreement shall run with the land and be binding upon Developer and its heirs, <br /> assigns, and successors in interest that have an interest in the Subject Property, except for the <br /> purchasers of units within the Project. <br /> 1 <br />