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SUBDIVISION AGREEMENT TRACT NO. 6982, BRIDLE CREEK, PLEASANTON ALAMEDA COUNTY, CALIFORNIA THIS AGREEMENT made and entered at Pleasanton, California, this ~S ~ day of dZ~l., 1999, by and between: Sycamore Funding Development Company 4340 Stevens Creek Boulevard, Suite 240 San Jose, CA 95129 ("Subdivider") and the CITY OF PLEASANTON, a general law city, ("City"). WHEREAS, Subdivider has an approved tentative map for Tract 6982; and WHEREAS, all or a portion 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 WHEREAS, the final map designates streets, easements and public ways for the City, and Subdivider proposes to dedicate this land to the City; and WHEREAS, as a condition precedent to accepting this offer of dedication by Subdivider, City requires (a) the improvements of the public ways, (b) installation or extension of certain City services at Subdivider's expense and (c) certain protection 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 final map for recording by the City, the parties 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 Agreement to be completed by Subdivider shall be completed within one (1) year from the 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 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 described work: Improvements pursuant to plans entitled "Improvement Plan, North Sycamore Specific Plan Improvements, Pleasanton, California," prepared by Ruggeri Jensen Azar & Associates, dated ,approved by the City Engineer , 1999. (Revised November 1998)