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,~ <br />right-of-way for which is shown and described in Exhibits <br />"B" and "B-1", respectively; and <br />WHEREAS, Owners would normally be required to dedicate <br />the right-of-way for, and construct a portion. of, the above <br />described Del Valle Parkway. upon subdivision and development <br />of the .Property; and <br />WHEREAS, the City desires to have the above-described <br />portions of the. Del Valle. Parkway constructed to provide a <br />usable street connection from Vineyard Avenue to Stanley <br />Boulevard via California Street at the earliest possible <br />time, with construction beginning during the summer of 1983; <br />and <br />WHEREAS, the City is willing to pay for and construct <br />the above-described portion of Del Valle Parkway as a usable <br />street in advance of Owners desire to subdivide .and develop. <br />the Property, subject to reimbursement by Owners at the time <br />Owners would ordinarily have.. dedicated and improved the Del <br />Valle. Parkway in the ordinary course of subdividing and <br />improving the Property;. <br />NOW., THEREFORE, in consideration of the faithful performance <br />of the promises, terms, conditions and covenants set forth <br />herein, the parties hereto agree"as followsr <br />1. Right-of-Zaay Deed. Owners shall execute a Grant <br />Deed for the necessary right-of-way for the proposed Del <br />Valle Parkway, essentially as shown and described in .Exhibits <br />"B".and "B-1", respectively, upon execution of this agreement. <br />-2- <br />