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Recording requested by and <br />when recorded return to: <br />The Taubman Company, Inc. <br />24301 Southland Drive, Suite 500 <br />Hayward, CA 94545 <br />Attn: Robert F. Eynck <br />Vice President <br />DEVELOPMENT AGREEMENT <br />THIS DEVELOPMENT AGREEMENT is made and entered <br />into as of the 20th day of July, 1981, by and between THE CITY <br />OF PLEASANTON, a municipal corporation (hereinafter referred to <br />as "City"), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as <br />Trustee under its Trust No. 5-102510 ("Properties"), and <br />WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee under its <br />Trust No. 5-102511 ("Peripheral"), and is executed with <br />reference to the <br />following circumstances:a) Properties is the owner of that <br />certain real property (the "Shopping Center Property") located in <br />The City of Pleasanton, Alameda County, California, <br />more particularly described in Exhibit A, which real property <br />constitutes a portion of the Stoneridge Regional Retail Shopping <br />Center (the Shopping Center"). Peripheral is the owner of <br />that certain real property (the "Peripheral Property") located in <br />The City of Pleasanton, Alameda County, California <br />more particularly described in Exhibit B. (Both the Shopping Center <br />Property and the Peripheral Property constitute elements of <br />the development commonly referred as the " <br />Stoneridge Project".)b) The parties desire to enter into <br />a development agreement relating to the Shopping Center Property <br />and the Peripheral Property pursuant to the provisions <br />of California Government Code Section 65864, <br />et se .c) Public hearings on the application <br />for this development agreement have been held by the <br />Planning Commission and City Council of the Cityas required, <br />by <br />law.j <br />Dt~ ~.~~~ ATE