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FIRST AMENDMENT <br /> REIMBURSEMENT AGREEMENT FOR STORM DRAIN FACILITIES <br /> Ponderosa Homes <br /> This First Amendment to the Reimbursement Agreement for Storm Drain Facilities Ponderosa <br /> Homes is entered into this _ day of , 2015, by the City of Pleasanton <br /> ("City") and Ponderosa Homes II, Inc., a California Corporation ("Developer") whose principal <br /> place of business is 6130 Stoneridge Mall Rd.,Ste. 185,Pleasanton,CA 94588. <br /> RECITALS <br /> WHEREAS, the City and Developer entered into the Reimbursement Agreement for Storm <br /> Drainage Facilities, dated March 18, 2008, (hereinafter refereed to as "Reimbursement <br /> Agreement"), recognizing that the Developer had installed storm drain and related infrastructure <br /> that would benefit,in part,nearby properties;and <br /> WHEREAS,the anticipated pace of development that could benefit from the storm drain and related <br /> infrastructure has not occurred as anticipated at the time the Reimbursement Agreement's effective <br /> date;and <br /> WHEREAS,the City and Developer have agreed to extend the Reimbursement Agreement for a <br /> period of five years beyond its initial ten years;and <br /> NOW THEREFORE, the parties agree to amend the Reimbursement Agreement on the <br /> following terms and conditions: <br /> 1. Section 11. Term,will be replaced in its entirety with the following: <br /> Fifteen(15)years after the date of the Agreement,City shall cease collecting Reimbursement <br /> Fees and Developer shall not be entitled to the receipt of any further Reimbursement Fees <br /> pursuant to this Agreement. <br /> 2. EXHIBIT C will be replaced with the amended EXHIBIT C attached to this amendment. <br /> 3. Notices. All notices herein required shall be in writing and shall be sent by certified or <br /> registered mail,postage prepaid,addressed as follows: <br /> To Developer. To City: <br /> Ponderosa Homes City of Pleasanton <br /> Ann: Jeff Schroeder, Ann: City Manager <br /> Senior Vice President,Land Acquisition&Planning 123 Main Street <br /> 6130 Stoneridge Mall Rd., Ste. 185 P.O.Box 520 <br /> Pleasanton,CA 94588 Pleasanton,CA 94566 <br /> Except as herein amended,all other parts and sections of the Reimbursement Agreement shall <br /> remain unchanged and in full force and effect. <br /> -1- <br />