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~ • <br />EXCHANGE AGREEMENT <br />THIS REAL PROPERTY EXCHANGE AGREEMENT ("Agreement") is <br />entered into as of this 16th day of December 198G by <br />and between THE CITY OF PLEASANTON ("City"), a municipal <br />corporation of the State of California, and CASTLEWOOD <br />PROPERTIES, INC. ("Developer"). <br />R E C I T A L S <br />The parties hereto enter this Agreement predicated on the <br />following facts and understandings: <br />A. Government Code. Section 37351 authorizes the City to <br />exchange real property situated inside the city limits for the <br />benefit of the City. <br />B. The City presently owns real property (hereinafter <br />"Parcel A") consisting of approximately 5.2 acres mare <br />particularly described in Exhibit "A", attached hereto and <br />incorporated herein by this reference. <br />C. Parcel A is not particularly useful as a city park d.ue <br />to steep slopes on approximately 2.5 acres and the relationship <br />of the total parcel to the ,remaining park and adjacent school <br />property. <br />D. Parcel B, described in Exhibit "A"', attached hereto and <br />incorporated herein by this reference, is part of a larger parcel <br />of land given development plan approval for a single-family <br />1 <br />