PLEASANTON HACIENDA I LP (2) - Laserfiche WebLink

Recorded at the request of: City of Pleasanton When recorded, return to: City of Pleasanton P.O. Box 520 Pleasanton, CA 94566 AGREEMENT CONCERNING CAPITAL IMPROVEMENTS THIS AGREEMENT is entered into this day of , 200_, between Pleasanton Hacienda I, LLC (Owner) and the City of Pleasanton(City). RECITALS A. Owner is the owner of real property located at 3231 Vineyard Avenue, Pleasanton, California, and more particularly described in Exhibit 1 attached hereto and incorporated herein by reference (the Property). B. The Property has been developed and improved as a mobile home park, known as the Hacienda Mobilehome Park, and has 149 mobile home spaces (the Park). C. The Park has a number of capital improve including (but not limited to) the improvements described in Exhibit 2 attached hereto orporated herein by reference (the Capital Improvements). D. For a number of years, Owner and City have flied into a series of agreements concerning the rents that are charged at the Park. E. Owner has maintained and repaired, as necessary, the Capital Improvements, but the agreements between the Owner and City have set forth formulas for how the costs to replace (or to construct new) Capital Improvements will be allocated between the Owner and the residents of the Park; generally, the residents have been responsible for those costs over certain threshold amounts. F. Owner has proposed that in exchange for the continuation of an increase in rent, granted in 2007, Owner would assume, in perpetuity, the financial responsibility to maintain, repair and replace (as and when necessary) all Capital Improvements in the Park, those that exist today and those that may be constructed in the future. G. City has discussed this proposal with the residents of the Park and the residents are in favor of the proposal. EXHIBIT ) 1