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FIRST AMENDMENT TO <br />DEVELOP~ENT DEFERmeNT AGREEM~N~ <br /> <br /> THIS FIRST A~ND~NT TO DEVELOPMENT DEFERmeNT <br />AGREEMENT (the "Amendment") is made this ~U~ day of <br />August, 1982, 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 o~ 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 /> <br /> C. Due to circumstances not foreseen at the time of <br />execution of the Agreement, it is in the public interest that <br />the parties agree that no building permits will be issued on the <br />Property prior to September 8, 1983. <br /> <br /> D. The parties also desire to set forth the under- <br />standing of the parties regarding the expiration dates of <br /> <br /> <br />