AUF DER MAUR TRAFFIC FEE CREDIT AGMT 2006

~ ~ as well as design and engineering costs. No overhead or administrative charges may be included in the final costs. (c) Owners shall be entitled to a credit against Traffic Fees due on other development projects on property owned (or owned within the past 12 months) (hereafter `qualified property') by Owners within Stanley Business Park for the difference between the final costs for the Improvements and the final Traffic Fees due for the Project. For example: $135,000 Final Cost of Improvements $ 50,000 Traffic Fees due for Project $ 85,000 Available credit Owners shall notice the City, in writing, of the project(s) and amount of the available credit which Owners wish to assign to qualified property. Such notice must be received prior to issuance of building permits for development on qualified property. (d) Owners shall be able to assign up to eighty-five thousand dollars ($85,000) in available credit to development on qualified property effective upon execution of this Agreement. Upon the determination of final costs for the Improvements, as well as the final Traffic Fees due for the Project, the final amount of available credit shall be calculated. If Owners have assigned more credit to development on qualified property than is finally calculated to be available, Owners shall have thirty (30) days to refund the difference to the City. 5. Owners acknowledge that this Agreement only relates to the local Traffic Development Fees imposed pursuant to Pleasanton Municipal Code Chapter 3.26; and that Owners must pay all other development fees, building permit, plan check, and inspections fees required for this Project. 6. This Agreement represents the entire understanding of the parties. 7. This Agreement may be amended upon written consent of both parties. Executed as of the date first stated above. CITY OF PLEASANTON OWNERS: Deborah Acosta McKeehan, City Manager Frank Auf der Ma ~~ Konrad Rickenbach 2