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be reached which would assure Developer's participation in <br />the Hopyard Road improvements. <br />4. Prudential Insurance Company, as part of the Hacienda <br />Business Park improvements, has undertaken to widen and improve <br />Hopyard Road in advance of the assessment district with the <br />understanding that the improvements would be subsequently <br />acquired by the district, and the dedication of the necessary <br />right-of-way from the subject site is urgently required in <br />order to allow this street improvement to be completed. <br />5. Developer, Owner and City have resolved the issues of <br />right-of-way and public service easement dedications, an <br />amount to cover the costs of Developer's obligations for <br />street improvements, and the timing of the dedications and <br />payments, and now desire to set forth their respective under- <br />standing and agreement pertaining thereto in writing. <br />THE CITY, OtJNER ATdD DEVELOPER AGREE AS SET FORTH BELOW. <br />I. Owner shall dedicate and convey fee simple title, free <br />of all encumbrances, of a portion of the subject property <br />being all that parcel of land located and described in <br />Exhibit "A", attached hereto and incorporated herein, as <br />"Street Dedication Area", said parcel of land containing <br />approximately 0.291 acres. Said dedication shall be conveyed <br />by a Grant Deed within ten (10) days after the execution of <br />this agreement. <br />II. .Owner shall dedicate and convey a permanent public service <br />easement of a portion of the subject property being all that <br />parcel of land located and described in Exhibit "A" as "Public <br />Service Easement Area", containing approximately 0.555 acres. <br />-2- <br />