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AGREEMENT <br />November, <br /> <br /> SECOND AMENDMENT TO <br />DEVELOPMENT DEFERMENT AGREEMENT <br /> <br />THIS SECOND AMeNDMeNT TO DEVELOPMENT DEFERMENT <br />(the "Second Amendment") is made this ~%~ay of <br />1983, by and between THE STONESON DEVELOPMENT COR- <br />PORATION, a California corporation ("Stoneson"), and the <br />CITY OF PLEASANTON, a municipal corporation ("Pleasanton"). <br /> <br /> RECITALS <br /> <br /> A. Stoneson and Pleasanton entered into that <br /> <br />certain Development Deferment Agreement (the "Agreement") dated <br />as of September 8, 1981, pertaining to that certain unimproved <br />real property (the "Property") located in Pleasanton, california, <br />as more particularly described in Exhibit A to the Agreement. <br /> <br /> B. The Agreement provided in pertinent part that no <br />building permits would be issued on the Property prior to <br />September 8, 1982, in order to allow Stoneson time to perfect <br />plans and studies of the proposed development of the Property <br />and because of Pleasanton's desire to see housing become avail- <br />able on the market at reasonable intervals. <br /> C. Stoneson and Pleasanton entered into that certain <br /> First Amendment to Development Deferment Agreement (the "First <br /> Amendment") dated as of August 24, 1982, by the terms of which the <br /> moratorium on issuing building permits on the Property was <br /> ~xtended to September 8, 1983. <br /> <br /> D. In November, 1983, Stoneson applied for and was <br /> issued 12 building permits to construct residental units on the <br /> <br />Property. <br /> <br /> <br />