STONESONE DEVELOPMENT TRACT 3150

Awk the improvements required in Tract No. 3150 and not yet completed. As a condition precedent to accepting the offers of dedication by Subdivider contained in the final map of Tract No. 3150, City requires the installation of the aforementioned improvements and certain protections for City on behalf of the public . The Subdivider and Citv wish to enter into an amended subdivision agreement incorporating the terms and conditions necessary for the completion of Tract No. 3150 in accordance with the updated improvement plans for the remainder of the improvements within the tract. It is the intent of Subdivider and City that this amended agreement amend in the entirety any and all previous subdivision agreements relating to Tract No. 3150, and that the amended agreement shall supersede all prior subdivision agreements concerning the subject tract. This amended agreement is entered into in light of the foregoing and in consideration of those promises made by Subdivider and the approval of the map for recording by the City. 2 . TIME. Time is of the essence of this agreement. The work and improvements required by this agreement shall be completed by Subdivider within one (1) year from the above-mentioned date of this agreement. The City may extend the time for completion of improvements hereunder, upon good cause being shown by the sub- divider. Any such extension may be granted without notice to the Subdivider' s surety, and an extension so granted shall not relieve the surety' s liability on the bond to secure the faithful per- formances of this agreement. -2-