RUBY HILL DEVELOPMENT RESERVOIR #2

~ ~ PUBLIC IMPROVEMENT AGREEMENT Ruby Hill Reservoir #2 Improvements and Pump Station Modifications, Ruby Hill Development Joint Venture, L.P. THIS AGREEMENT is made at Pleasanton, California, this "~'h day of ~~C~-~' 1996, between: Ruby Hill Development Joint Venture, L. P. 6612 Owens Drive Pleasanton, CA 94588 ("Subdivider") and the CITY OF PLEASANTON, a general law city, ("City"). WHEREAS, Subdivider is developing the Ruby Hill development, a residential development; and WHEREAS, as part of that development, Subdivider is required to construct a second reservoir (the Ruby Hill Reservoir #2) and modify an existing water pump station for the second reservoir; hereafter the second reservoir and the modifications to the pump station will be identified as "the improvements." 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 improvements required by this Agreement 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, any extension so granted shall not relieve the surety's liability on the bond to secure the faithful performance of this Agreement. 2. Work. Subdivider will do or cause to be done and performed the following improvements: "Improvement Plans, Water Line Extension to Tank #2 Improvement Plans, Pleasanton, California," prepared by RJ Associates dated December 8, 1995. - 1 -