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<br />AGREEMENT <br />THIS AGREEMENT, made and entered into this 6~ day of <br />~,~, 1982, by and between the CITY OF PLEASANTON, a municipal <br />corporation of the State of California, hereinafter referred to as <br />"CITY", and THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, a New Jersey <br />corporation, hereinafter referred to as "PRUDENTIAL". <br />WITNESSETH: <br />WHEREAS, the CITY has contracted for certain preliminary <br />engineering work by CAMP, DRESSER & McKEE, INC., necessary for the <br />design of a 5 - 8 million gallon reservoir; and <br />WHEREAS, PRUDENTIAL has offered to pay for the costs of this <br />contract up to a total amount of $16,000, conditioned upon the under-• <br />standing that all work and payments made shall be included in a <br />proposed Water Assessment District; <br />NOW, THEREFORE, in consideration of the mutual promises, covenants,. <br />and agreements herein set forth, the parties do hereby agree as follows: <br />1. PRUDENTIAL agrees to reimburse CITY in an amount not to <br />exceed Sixteen Thousand Dollars ($16,000.00) for CITY's costs incurred <br />pursuant to its contract with CAMP, DRESSER & McKEE, INC. dated <br />November 9 1982 and approved by Resolution No. 82-446 , <br />attached as Exhibit "A", and any and all costs reasonably incurred <br />by CITY directly relating to the formation of the proposed North <br />Pleasanton Water Improvement District, until such time as bonds are <br />initially sold for the District. <br />2. CITY agrees it shall use its best efforts and due diligence (i) <br />to have Assessment District formed and bonds sold as soon as reasonably <br />practical; and (ii) to have the costs f.or PRUDENTTAL`s account under <br />this agreement specified as costs reimbursable by the Assessment District <br />3. CITY shall bill PRUDENTIAL by invoice for reimbursement on <br />a periodic basis as CITY incurs costs to its agreement with CAMP, <br />DRESSER & McKEE, INC. and other reasonable costs directly relating <br />to the formation of the above-mentioned District. Reimbursement <br />payments shall be due and payable to CITY thirty (30) days from the <br />date of invoice. <br />