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building permits for a specified period of time by reason of <br /> action by a governmental agency, the three-year deadline for <br /> obtaining building permits will be extended for an amount of <br /> time equal to the time specified in the written contract. <br /> <br /> G. It is in the public interest that the construction <br />of residential units in Pleasanton takes place in an orderly <br />manner. In order to allow Stoneson time to perfect plans and <br />studies of the proposed development of the Property and because <br />of Pleasanton's desire to see housing become available on the <br />market at reasonable intervals, it is in the public interest <br />that the parties agree that no building permits will be issued <br />on the Property prior to August 24, 1983. <br /> <br /> NOW, THEP~FORE, in consideration of the mutual pro- <br />visions and the sum of One Thousand Dollars ($1,000) being paid <br />to Pleasanton as a processing fee concurrently herewith, the <br />parties agree as follows. <br /> <br /> 1. No building permits will be issued on the Property <br />prior to August 24, 1983. <br /> <br /> 2. The effect of this Agreement is to extend until <br />January 22, 1984, November 24, 1984 and April 6, 1985, the t~me <br />within which building permits can be obtained for the Proper~y <br />by Stoneson without the expiration of all or any portion of <br />(i) fifty (50) of the 65 Permits, (ii) fifteen (15) of the 65 <br />Permits, and (iii) 69 Permits and twenty-four (24) of the 42 <br />Permits, respectively. The effect of this Agreement upon the <br />remaining eighteen (18) permits which do not have P~P approval <br />is to toll for a period of one year the running of the three (3) <br /> <br /> <br />