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STONESON DEVELOPMENT
City of Pleasanton
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LONG TERM AGREEMENT
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STONESON DEVELOPMENT
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11/2/2007 11:17:28 AM
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11/2/2007 9:32:00 AM
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
5/31/1974
LONG TERM AGREEMENTS - NAME
STONESON DEVELOPMENT
LONG TERM AGREEMENTS - TYPE
MISC AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
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and agrees to do no act calculated or tending to prevent, impede o.r.~ <br />defeat the successful formation thereof, provided, however, that this <br />waiver is not intended nor shall it be construed to affect or limit <br />the rights of the Developer to participate in the hearings and/or other <br />aspects of the assessment district proceedings to the extent necessary <br />and appropriate to protect and further its interests or the public interest <br />so long as said action does not tend to prevent or defeat the formation <br />of the Assessment Districts. <br />C. Developer and City agree that Engineer of Work to be <br />appointed in special assessment district proceedings will coordinate <br />public work with City and Developer; that all plans and specifications <br />for all public work to be done in said Special Assessment Districts will <br />be approved by Developer, City and Engineer of Work. <br />D. REA. Developer will enter into a Reciprocal.Easement and Opera- <br />ting Agreement ("REA") providing for the construction of a Regional Shop- <br />ping Center as hereinabove described. The REA is to be an irrevocably <br />binding agreement between the Developer and the major department store <br />owners to construct, own and operate a mall and the major department stores <br />in said location. <br />E. Developer and Stoneson reserve the right to amend in accord- <br />ance with law the description of any assessment district prior to the <br />recordation of the assessment lien. <br />V. MISCELLANEOUS PROVISIONS <br />A. Termination. This agreement shall terminate fifteen (15) <br />years from the date the City receives the first sales tax revenues from <br />businesses located in the Shopping Center or at such time as the City <br />has contributed to the Assessment Districts from the Special Fund the <br />moneys required to retire the City's share of the assessments levied in <br />Assessment Districts No. 1974-2 and No. 1974-4, whichever shall first <br />occur. Upon termination of this agreement, all obligations of the City <br />- 11 - <br />F <br />
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