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COST REIMBURSEMENT AGREEMENT <br />,~ ~~-~~ ~ <br />THIS AGREEMENT ("Agreement") is entered into this /,~~lay offer, <br />2001, by and between the CITY OF PLEASANTON, a municipal corporation ("City"), <br />and PLEASANTON HINES DEVELOPMENT, LLC, a Delaware limited liability <br />corporation ("Developer"). <br />RECITALS <br />A. In conjunction with Developer's development of four (4) office buildings on <br />four (4) parcels of real property in the City of Pleasanton, County of Alameda, State of <br />California, described as Parcels 1, 2, 3 and 4 on Parcel Map 7456 ("the Property"), the <br />City of Pleasanton requested that Developer: oversize the diameters of Developer-built <br />sewer mains from eight (8) inches to ten (10) inches and from four (4) inches to ten (10) <br />inches, and construct an additional two hundred fifty (250) feet of sewer main and related <br />items (collectively, the "Improvements") for the benefit of other properties and the City <br />of Pleasanton. The Improvements which have been constructed at the request of the City, <br />and which would not have been constructed by Developer but for such request, shall be <br />herein referred to as the "City-Requested Improvements." <br />B. Developer has completed construction of such City-Requested Improvements, <br />and City has agreed to reimburse Developer for all costs attributable to such City- <br />Requested Improvements. <br />NOW, THEREFORE, in exchange for mutual consideration, the receipt and value <br />of which is hereby acknowledged, the parties agree as follows: <br />Section 1. Improvements <br />The City-Requested Improvements which have been constructed, installed, and <br />financed by the Developer are described more particularly in the attached Exhibit A. <br />Section 2. Reimbursable Costs. <br />The costs incurred by Developer for the construction of the City-Requested <br />Improvements are set forth in Exhibit A (the "Costs"). The City Engineer has reviewed, <br />and approved as appropriate, such Costs. <br />Section 3. Ownership of Improvements. <br />Developer shall dedicate the Improvements to the City; provided, however, that in <br />no event shall Developer be required to provide any indemnity or covenant to City in <br />connection with such dedication. Thereafter, Developer shall have the right to use the <br />Improvements in accordance with local regulations. Developer shall not be bound by any <br />present or future regulations which would not affect Developer but for Developer's <br />completion of the City-Requested Improvements. <br />sf- l 130446 <br />