SOUTHERN PACIFIC - FT 034165 - Laserfiche WebLink

2. WP will convey to the City of Pleasanton a longitudinal strip along the east side of its existing non-operating right-of-way, approximately 50 feet wide, extending from the north line of Rose Avenue to the south line of St. Mary's Street, for the construction of the new street described in paragraph 6 of the Recitals. It is agreed that the appraised value of this strip shall be considered as partial payment by WP of the amount due as set -forth under Part I, pargraph 9, hereof. The term "appraised value," as used in this paragraph, shall mean that value determined by mutual agreement between City of Pleasanton and WP, or, in the event parties fail to agree, by an impartial appraiser or appraiser selected jointly by the two parties. 3. WP will, by separate indentures, grant to local agencies transverse easements to allow the extension of certain roadways across the rights- of-way of WP, including the following: o Pleasanton-Sunol Highway o Bernal Avenue, Pleasanton o Del Valle Parkway; Pleasanton The aforementioned easements shall be made without monetary consideration. 4. Railroads may exchange such parcels of right-of-way between themselves as may be necessary or appropriate for the track connections and modifications shown on Exhibits A and B. Local agencies will not be involved with these transfers or exchanges, and there will be no cost or credit to the Project in connection therewith. 5. To establish the net costs for rights-of-way acquired by local agencies for roadway approaches to grade separations to which Railroads shall contribute, the (a) fair market value of any excess parcels acquired by local agencies shall be subtracted from (b) the cost of the total right-of-way acquired by local agencies. The term cost for rights-of-way," as used in this Agreement, is defined as, and limited to, the following: 9