RUBY HILL DEVELOPMENT IN LIEU PARK DEDICATION

~-- AGREEMENT CONCERNING PAYMENT OF IN-LIEU PARK DEDICATION FEES .(RUBY HILL DEVELOPMENT) This agreement is entered into on this ~~~~day of ~~'.:~'~~..1, 1995 by and between the CITY OF PLEASANTON, a municipal corporation, hereinafter "City" and RUBY HILL DEVELOPMENT PARTNERS, L.P., a California Limited Partnership, hereinafter "Ruby Hill". RECITALS 1. Ruby Hill is the developer of the Ruby Hill residential development in Pleasanton. 2. On April 4, 1995, City granted Ruby Hill a 50% credit against its requirement to dedicate land, or pay fees in lieu thereof, for Ruby Hill's providing a private 12.5 acre, fully developed neighborhood park within the Ruby Hill development, subject to the following conditions: a. If Ruby Hill has a swim team, the swimming pool will be available for swim meets in the same manner that other swim clubs make their pools available for such meets. b. If children from the Ruby Hill development are on soccer and/or softball teams, those teams may use the Ruby Hill fields for practice. c. Ruby Hill shall continue to pay the full amount of the in lieu park dedication fee until it has paid one-half of the amount which otherwise would be due the City. 3. The parties now wish to commit to writing what "one-half of the amount which otherwise would be due the City" means, as provided in 2.c., above. Based on the above Recitals and on the follo~vir~g promises, covenants, and conditions, the parties agree as follows: 1. Without the 50% credit, Ruby Hill's total in lieu park dedication fee obligation, based on the City's in lieu park dedication fee resolution in effect on April 4, 1995, is $2,973,102. 2. With the 50o credit, Ruby Hill's total in lieu park dedication fee obligation is $1,486,551. 3. Ruby Hill has paid $1,249,232 toward this obligation as of August 30, 1995; Ruby Hill's remaining obligation is $237,319.