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SUBDIVISION AGREEMENT PUD-87 and PUD-87-01 M, PM 10184, The Vintage Property This Subdivision Agreement ("Agreement") is made and entered into this day of March, 2016, by and between, CP IV Vintage, LLC, 1000 Sansome Street, Suite 180, San Francisco, CA 94111. ( "Subdivider") and the City of Pleasanton, a general law city ("City"). RECITALS WHEREAS, Subdivider has a City -approved planned unit development plan (PUD-87 and PUD-87-01 M) and vesting tentative map (Parcel Map 10184) for the development of 345 apartment units on one lot and four commercial buildings on three lots on an approximately 16-acre site at 3150 Bemal Avenue (the "site"); and WHEREAS, all or a portion of the area of the vesting tentative map is presented as a "parcel map" a copy of said map is on file in the office of the City Engineer, and by reference is included in this Agreement for all purposes as if attached hereto; and WHEREAS, said map and subdivision of land designates streets, easements and public ways for the City, and Subdivider proposes to dedicate this land set forth in the parcel map to the City; and WHEREAS, as a condition precedent to accepting this offer of dedication by Subdivider, City requires the improvements of the public ways, installation or extension of certain City services at Subdivider's expense and certain protection for the City on behalf of the public; and WI•[EREAS, as mitigation measures and conditions of approval for PUD-87 and PUD-87- 01 M and the tract, Subdivider must also construct public and private subdivision improvements on the site. NOW, THEREFORE, in consideration of the faithful performance of the promises, terms, conditions and covenants set forth herein by Subdivider, the parties hereto agree as follows: 1. Time of Essence. Time is of the essence in the performance of this Agreement. The work and improvements required by this Agreement to be completed by Subdivider shall be completed 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 Subdivider. Any such extension may be granted without notice to the Subdivider's surety, any extension so granted shall not relieve the surety's liability on the bond to secure the faithful performance of this Agreement. 2 . Work. Subdivider will do or cause to be done and performed the following described work. Improvements pursuant to plans and project bond estimates entitled: A. The Vintage On -Site Improvement Plans (1315-0338), prepared by Steinberg Architects, San Francisco, CA; and BKF Engineers, Surveyors, Planners, Pleasanton, CA; Bond Subdivision Agreement —PM 10184, 'rhe Vintage Page I of 6