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AGREEMENT FOR IMPLEMENTATION OF~RAP <br />EXEMPTION PURSUANT TO RESOLUTION N0. 81-265 <br />THIS AGREEMENT is made and entered into this ~ day <br />of 1984, by and between VINTAGE ASSOCIATES <br />a California general partnership (the "Developer"), and the <br />CITY OF PLEASANTON, a municipal corporation (the "City"). <br />RECITALS <br />A. Developer is the owner of an approximately 7.19 <br />acre parcel of land located between Palomino and Tawny <br />Drives approximately 330 feet east of Bernal Avenue, as <br />shown on Exhibit "A" attached hereto and incorporated herein <br />by this reference (the "Property"). <br />B. Developer has received City PUD approval authorizing <br />construction of a 108-unit townhouse project, commonly known <br />as Vintage Terrace, Tract 5008, located on the Property (the <br />"Project"). <br />C. On August 11, 1981, the City Council of the City <br />of Pleasanton approved Resolution No. 81-265 granting an <br />exemption from the City's Residential Allocation Program for <br />the Project as a lower-income housing project. <br />D. The Developer has subsequently filed Tract Map <br />5008, subdividing the property into 108 townhouse lots and <br />three common area parcels; the Developer intends to retain <br />Lots 53 through 108, inclusive, for use in meeting its <br />obligations incurred in receiving the exemption. <br /> <br />. -1- <br />