JENSEN - AGMT TO PAY PRO RATE SHARE OF INFRASTRUCTURE/DEVELOPMENT COSTS

NOW, THEREFORE, for the promises expressed herein, the parties agree as follows: 1. Property Owners shall pay for their pro rata share of the design and construction costs that are allocated to the residential lots that the Property Owners own. These costs are the actual costs to extend the water, sanitary sewer systems, utilities and roadway improvements needed to serve the residential lots from the utility companies' main lines, and the City's water mains, sewer trunk lines and roadway on the City's golf course property. Property Owners' pro rata share shall be based on the cost sharing formula that has been previously approved by the Pleasanton City Council and as described in the MOU. 2. Property Owners shall pay to the City their pro rata share as set forth in the MOU upon the earlier to occur of: (a) obtaining a building permit for a given residential unit; or (b) upon the close of escrow for the sale of an undeveloped residential lot to any third party other than Jeff Woods, Manny Del Arroz, Juanita Del Arroz, or Black Mountain Development. 3. Property Owners shall pay at their sole expense all standard development fees and costs associated with the development of the 34 new residential lots, including all utility connections and in lieu park dedication fees, lower income housing fees, school impact fees, etc., except as provided otherwise in the MOU. Property Owners shall pay the in lieu park dedication fees at the time a building permit is obtained for each of the 34 new residential lots. 4. This Agreement shall be a covenant which is to run with the land and shall be binding upon transferees, successors and assigns of the Property Owners and shall be recorded in the Office of the Alameda County Recorder. 5. If any party to this Agreement initiates any action at law or in equity to enforce or interpret this Agreement, the prevailing party shall be entitled to recover reasonable attorneys fees and costs in addition to any other relief to which it otherwise may be entitled. IN WITNESS WHEREOF, the parties have executed this document on the date and year set forth above. 2