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REIMBURSEMENT AGREEMENT FOR <br />MUIRWOOD DRIVE NORTH AND <br />SERENITY TERRACE IMPROVEMENTS <br />THIS AGREEMENT is entered into at Pleasanton, California, <br />this ~ ' ~~t day of ~,~ ti's 1996 , between the CITY OF <br />PLEASANTON, a general law city, ("City"), and MOLLER RANCH <br />ASSOCIATES L.P. ("Developer"). <br />A. Developer is the owner of certain real property in the <br />City of Pleasanton, County of Alameda, State of California, <br />described as Lots 1-99, Tract 6618, recorded August 3, 1995, in <br />Map Book 220, Page 13-24, Alameda County Records ("the <br />Property"). <br />B. In connection with the Property's development, <br />Developer intends to construct or cause to be constructed a <br />public street, traffic signal, public utilities and related <br />improvements ("the Improvements") at and adjacent to the <br />intersection of Foothill Road and Muirwood Drive North, which <br />improvements will benefit the Property and other properties. <br />C. Pursuant to the Subdivision Map Act (Government Code <br />section 66410, et sue.), Developer is entitled to reimbursement <br />for certain costs of the Improvements and City is willing to <br />administer the reimbursement of such costs to Developer as set <br />forth herein. <br />NOW, THEREFORE, it is agreed as follows: <br />1. Improvements. Developer shall construct the <br />Improvements described in more detail on the attached Exhibit <br />"A". The Improvements will benefit other properties as well as <br />the Property. <br />2. Principles of Reimbursement. Because the Improvements <br />benefit other properties, Developer is entitled to reimbursement <br />for the costs of the Improvements to the extent other property <br />owners benefit thereby. <br />3. Ownership of Improvements. Pursuant to the Subdivision <br />Agreement between the City and Developer, City shall own the <br />Improvements after the City accepts the Improvements. The <br />Developer shall have the right to connect and use the <br />Improvements in accordance with City regulations. <br />4. Benefit Area. The properties that will benefit from <br />the Improvements ("the Benefit Area") shall include the Property <br />and those properties shown on the attached Exhibit B. <br />1 <br />