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FIRST AMENDMENT TO REIMBURSEMENT AGREEMENT <br />THIS FIRST AMENDMENT TO THE REIMBURSEMENT AGREEMENT is made <br />and entered into this ~ ~- day of ,~tc~ lv,, Q_~ , 1984 , by and <br />between THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, a New Jersey <br />corporation ("Prudential") and THE CITY OF PLEASANTON, a <br />municipal corporation ("City"). <br />R E C I T A L S <br />A. The parties hereto entered into a Reimbursement <br />Agreement dated April 17, 1984 which set forth the understandings <br />and obligations of the parties in acquiring the rights-of-way for <br />the Santa Rita Road interchange - Pimlico Drive realignment <br />project. <br />B. Section 2(d) provided that the City shall use its best <br />efforts to acquire those lands of MB Associates (now Tracor MBA) <br />such that no reimbursement would be required or on other terms <br />agreeable to Prudential and City. <br />C. City and Tracor MBA entered into an agreement on <br />May 1984, satisfactory to Prudential, which deferred payment <br />until the formation of the North Pleasanton Improvement District <br />("NPID") or December 31, 1984, whichever is earlier, it being the <br />understanding of Prudential and City that the NPID would be <br />formed and bonds sold by December 31, 1984. <br />D. Because the NPID will not be formed by December 31, <br />1984, Prudential and the City wish to provide for Prudential's <br />reimbursement of the acquisition costs associated with the <br />acquisition of the Tracor MBA property in the same manner as <br />reimbursement is made for other properties acquired pursuant to <br />the Reimbursement Agreement; <br />NOW, THEREFORE, the parties hereto agree as follows: <br />Section 1. Section 2(d) shall be amended in its entirety to <br />read as follows: <br />"2 (d) City shall use its best efforts to attempt to acquire <br />those lands of MB Associates on such terms and conditions such <br />that no payment to MB Associates shall be required until the <br />North Pleasanton Improvement District is formed and bonds are <br />sold. In the event acquisition cannot be accomplished on the <br />above terms, Prudential shall reimburse City for its costs <br />pursuant to Section 2(B)." <br />Section 2. All of the Reimbursement Agreement not expressly <br />amended herein shall remain in full force and effect. <br />- 1 - <br />