PONDEROSA HOMES SUBDIVISION AGREEMENT - TRACT 4432

SUBDIVISION AGREEMENT TRACT NO. 4432, JOSHUA S LANDIi1G UNIT 1, PLEASANTON ALANtEDA~COUNTY, CALIFORNIA THIS AGREEMENT made and entered at Pleasanton, California this August 13, 1980 , by and between: PONDEROSA HOMES, Three Crow Canyon Court, San Ramon, California 94583 (hereinafter referred to as "Subdivider") 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, Subdivider has a tentative map for said tract, lying within the boundaries of the City; duly approved by the Planning Commission or the City Council; and WHEREAS, all or a portion of the area of the tentative map is presented as a "final Map," a copy of'said map is on file in .the office of the City Engineer, and by reference is included in this agreement for all purposes as if attached hereto; and . tivRr:EREAS, said map and subdivision of land designates streets, easements and public ways for the City, and Subdivider proposes to dedicate this land set forth in the final map to the City; and WHEREAS, as a condition precedent to accepting this offer of dedication by Subdivider, City requires the improvements of the public ways, installation or extension of certain City services at Subdivider's expense and certain protections for the City on behalf of the public. NOW, THEREFORE, in consideration of the faithful performance of the promises, terms,~~conditions and covenants set forth herein by Subdivider and the approval of the map for recording 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 Subdivider 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 Subdivider. Any such extension may be granted without notice to the Subdivider's surety, and extension so granted shall not relieve the surety's liability on the bond to secure the faithful performance of this agreement. -1-