PRUDENTIAL INSURANCE STREET IMPROVEMENT

STREET IP~iPROVEMEIQT AGREEZ~EYdT . HOPYARD ROAD IMPROVEMENTS PLEASANTON, ALAMEDA COUNTY, CALIFORNIA THIS AGREEMENT made and entered at Pleasanton California this 19th day of October, 1981, by and between: PRUDENTIAL INSURANCE COMPANY OF AMERICA BUILDING "A", SUITE 101 155 MOFFETT PARK DRIVE SUNNYVALE, CALIFORNIA 94086 (hereinafter referred to as "DevelopeX") and the CITY OF PLEASANTON, a general law city, located in Alameda County, California, acting through the City Manager and the City Clerk (hereinafter referred to as "City" WHEREAS, Developer has filed with the City of Pleasanton a proposed Tentative Subdivision Map for Tract 4857, in the City of Pleasanton; and WHEREAS, Developer desires to improve the access to said subdivision by widening and improving Hopyard Road between West Las Positas Boulevard and Johnson Drive. NOW, THEREFORE, in consideration of the faithful performance of the promises, terms, conditions-and covenants set forth herein by Developer and the approval of the map by the City, the parties hereto agree as follows: 1. Time of Essence. Time is of the essence in the performance of this agreement. The work and improvements required by this agree- ment to be completed by Developer shall be completed within one (1) year from the above-mentioned date of this agreement. The City may extend the time for completion of improvements hereunder, upon good cause being shown by the Developer. Any such extension may be granted without notice to the Developer's surety, and extension so granted shall not relieve the surety's liability on the bond to secure the faithful performance of this agreement.