PRUDENTIAL INSURANCE STREET IMPROVEMENT 1983

Revised May 13, 1983 STREET IMPROVEMENT AGREEMENT OLD SANTA RITA ROAD IMPROVEMENTS PLEASANTON, ALAMEDA COUNTY, .CALIFORNIA THIS AGREEMENT made and entered at Pleasanton, California this 16th day of May 1983 by and between: THE PRUDENTIAL INSURANCE COMPANY OF AMERICA 5820 STONERIDGE MALL ROAD, SUITE 201 PLEASANTON, CALIFORNIA 94566 CALLAHAN-PENTZ PROPERTIES,PLEASANTON 5820 STONERIDGE MALL ROAD, SUITE 300 PLEASANTON, CALIFORNIA 94566 (hereinafter referred to as "Developer") and the CITY OF PLEASANTON, a general law city, located in Alameda County, California, acting through the Mayor and the City Clerk, (hereinafter referred to as "City") . WHEREAS, Developer has filed with Alameda County Recorder a Parcel Map No. 3858 describing property in the City of Pleasanton; and WHEREAS, Developer desires to improve the access to said property by widening and improving Old Santa Rita Road as more particularly shown on the attached plans labeled Exhibit "A". NOW, THEREFORE, in consideration of the faithful performance of the promises, terms, conditions and covenants set forth herein by Developer 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 Developer shall be completed within one (1) year from the above-mentioned date of this agreement subject to delays beyond the control of Developer and to the continuing validity of all governmental approvals granted in connection with the development of Hacienda Business Park and Pleasanton Park Business Center. The City shall extend the time for completion of improvements hereunder, upon good cause being shown by the Developer. Any such extension may be granted without notice to the Developer's surety, and extension so granted shall not relieve the surety's liability on the bond to secure the faithful performance of this agreement.