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HomeMy WebLinkAboutDublin Ranch West Wallis Ranch,RECORDING REQUESTED BY `CITY OF DUBLIN When Recorded Mail To: City Clerk City of Dublin 100 Civic Plaza Dublin, CA 94568 Fee Waived per GC 27383 `,~ Ot 4t4 V ~ ,_ ~ q 20@9053742 X2115/2009 ~4 ; 06 PSI OFFICIAL REC6RDS OF ALAME[3A COUNT`l PATRICK 0`CONNELL 0.00 C,tIPOPN~4 RECORDING FEE: a0 PGs REC~i~P~' ~'~-' CITI(4F ~ , ~.~ ~ LIAR I ~ t~u~f~ I~ CITY INANpIGErs';~ ~°64~1 Space above this line for Recorder's use DEVELOPMENT AGREEMENT BETWEEN THE CITY OF DUBLIN AND THE LIN FAMILY FOR WALLIS RANCH (DUBLIN RANCH WEST) .y/-,-. THIS DEVELOPMENT AGREEMENT ("Agreement") is made and entered in the City of Dublin on this (q~day of ~brrla.r , 200~`lby and between the City of Dublin, a Municipal Corporation (hereafter `TCity"), and Chang Su-O-Lin (also known as Jennifer Lin), a married woman (hereafter "Developer"), pursuant to the authority of §§ 65864 et seq. of the California Government Code and Dublin Municipal Code, Chapter 8.56. RECITALS A. California Government Code §§ 65864 et seq. and Chapter 8.56 of the Dublin Municipal Code (hereafter "Chapter 8.56") authorize the City to enter into an agreement for the development of real property with any person having a legal or equitable interest in such property in order to establish certain development rights in such property; and B. DEVELOPER desires to develop and holds legal interest in certain real property consisting of approximately 184 acres of land, located in the City of Dublin, County of Alameda, State of California, which is more particularly described in Exhibit A attached hereto and incorporated herein by this reference, and which real property is hereafter called the "Property"; and C. The City Council adopted the Eastern Dublin Specific Plan by Resolution No. 53-93 which Plan is applicable to the Property; and D. The Eastern Dublin Specific Plan requires Developer to enter into this development agreement, and, at the request of the Developer, City has agreed to extend the term of the Agreement beyond the standard five-year term that the City offers for development agreements required by the Eastern Dublin Specific Plan in exchange for the Developer's submission of a $1,000,000 community benefit payment to the City prior to the Effective Date of this Agreement; and E. Developer proposes the development of the Property with 935 residential units (although the Stage 1 development plan permits 1023 units) and various non-residential uses including neighborhood park, semi-public, open space, open space multi-use trial, private recreation facilities, water retention basin and associated public right-of-way (the "Project"); and F. Developer has applied for, and City has approved various land use approvals in connection with the development of the Project, including an amendment to the General Plan and Eastern Dublin Specific Plan (City Council Resolution No. 19-07), PD District rezoning and related Stage 1 and Stage 2 development plans (City Council Ordinance No. 2-07), Master Vesting Tentative Dublin/Lin Family Development Agreement Page 2 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 .Map for Tract 7515 (Planning Commission Resolution No. 07-01), Neighborhood Vesting Tentative Maps for Tract 7711 (Neighborhood 1), Tract 7712 (Neighborhood 2), Tract 7713 (Neighborhood 3), Tract 7714 (Neighborhood 4), Tract 7715 (Neighborhood 5), Tract 7716 (Neighborhood 6) (Planning Commission Resolution 07-01), and site development review (Planning Commission Resolution No. 07-01) (collectively, together with any approvals or permits now or hereafter issued with respect to the Project, the "Project Approvals"); and G. Development of the Property by Developer may be subject to certain future discretionary approvals, which, if granted, shall automatically become part of the Project Approvals as each such approval becomes effective; and H. City desires the timely, efficient, orderly and proper development of said Project; and I. The City Council has found that, among other things, this Agreement is consistent with its General Plan and the Eastern Dublin Specific Plan and has been reviewed and evaluated in accordance with Chapter 8.56; and J. City and Developer have reached agreement and desire to express herein a development agreement that will facilitate development of the Project subject to conditions set forth herein; and R K. On ,~unyturU 20 , 200, the City Council of the City of Dublin adopted Ordinance No. o~'Uq approving this Agreement. The ordinance took effect on Febrv~r 1 , 200 ("the Approval Date"). NOW, THEREFORE, with reference to the foregoing recitals and in consideration of the mutual promises, obligations and covenants herein contained, City and Developer agree as follows: AGREEMENT Description of Property. The Property that is the subject of this Agreement is described in Exhibit A attached hereto. 2. Interest of Developer. Dublin/Lin Family Development Agreement Page 3 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 The Developer has a legal or equitable interest in the Property in that it owns the Property in fee simple. 3. Relationship of City and Developer. It is understood that this Agreement is a contract that has been negotiated and voluntarily entered into by City and Developer and that the Developer is not an agent of City. The City and Developer hereby renounce the existence of any form of joint venture or partnership between them, and agree that nothing contained herein or in any document executed in connection herewith shall be construed as making the City and Developer joint venturers or partners. 4. Effective Date and Term. 4.1. Effective Date. The effective date of this Agreement shall be the Approval Date. 4.2. Term. The term of this Agreement shall commence on the Effective Date and extend fifteen (15) years thereafter, unless said term is otherwise terminated or modified by circumstances set forth in this Agreement. Notwithstanding the foregoing sentence, in the event that the City does not receive the Community Benefit Payment referenced above in Recital D on or prior to the Effective Date, the term will be five (5) years rather than fifteen (15) years. 5. Use of the Property. 5.1. Right to Develop. Developer shall have the vested right to develop the Project on the Property in accordance with the terms and conditions of this Agreement, the Project Approvals (as and when issued), and any amendments to any of them as shall, from time to time, be approved pursuant to this Agreement. Notwithstanding anything to the contrary in this Agreement, the ordinances, resolutions, rules, regulations and official policies governing amendments to the Project Approvals shall be those in force and effect on the Effective Date of this Agreement. 5.2. Permitted Uses. The permitted uses of the Property, the density and intensity of use, the maximum height, bulk and size of proposed buildings, provisions for reservation or dedication of land for public purposes and location and maintenance of on-site and off-site improvements, location of public utilities (operated by City) and other terms and conditions of development applicable to the Property, shall be those set forth in this Agreement, the Project Approvals and any amendments to this Agreement or the Project Approvals. Dublin/Lin Family Development Agreement Page 4 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 5.3. Additional Conditions. Provisions for the following ("Additional Conditions") are set forth in Exhibit B attached hereto and incorporated herein by reference. 5.3.1. Subsequent Discretionary Approvals. Conditions, terms, restrictions, and requirements for subsequent discretionary actions. (These conditions do not affect Developer's responsibility to obtain all other land use approvals required by the ordinances of the City of Dublin or other approvals from regulatory agencies.) See Exhibit B 5.3.2. Mitigation Conditions. Additional or modified conditions agreed upon by the parties in order to eliminate or mitigate adverse environmental impacts of the Project or otherwise relating to development of the Project. See Exhibit B 5.3.3. Phasing, Timing. Provisions that the Project be constructed in specified phases, that construction shall commence within a specified time, and that the Project or any phase thereof be completed within a specified time. See Exhibit B 5.3.4. Financing Plan. Financial plans which identify necessary capital improvements such as streets and utilities and sources of funding. See Exhibit B 5.3.5. Fees, Dedications. Terms relating to payment of fees or dedication of property. See Exhibit B 5.3.6. Reimbursement. Terms relating to subsequent reimbursement over time for financing of necessary public facilities. See Exhibit B 5.3.7. Miscellaneous. Miscellaneous terms. See Exhibit B 6. Applicable Rules, Regulations and Official Policies. Dublin/Lin Family Development Agreement Page 5 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 6.1. Rules re Permitted Uses. For the term of this Agreement, the City's ordinances, resolutions, rules, regulations and official policies governing the permitted uses of the Property, governing density and intensity of use of the Property and the maximum height, bulk and size of proposed buildings shall be those in force and effect on the Effective Date of the Agreement. 6.2. Rules re Design and Construction. Unless otherwise expressly provided in Paragraph 5 of this Agreement, the ordinances, resolutions, rules, regulations and official policies governing design, improvement and construction standards and specifications applicable to the Project shall be those in force and effect at the time of the applicable discretionary approval, whether the date of that approval is prior to or after the date of this Agreement. Ordinances, resolutions, rules, regulations and official policies governing design, improvement and construction standards and specifications applicable to public improvements to be constructed by Developer shall be those in force and effect at the time of the applicable discretionary approval, whether date of approval is prior to or after the date of this Agreement. 6.3. Uniform Codes Applicable. Unless expressly provided in Paragraph 5 of this Agreement, the Project shall be constructed in accordance with the provisions of the Uniform Building, Mechanical, Plumbing, Electrical and Fire Codes and Title 24 of the California Code of Regulations, relating to Building Standards, in effect at the time of approval of the appropriate building, grading, or other construction permits for the Project. 7. Subsequently Enacted Rules and Regulations. 7.1. New Rules and Regulations. During the term of this Agreement, the City may apply new or modified ordinances, resolutions, rules, regulations and official policies of the City to the Property which were not in force and effect on the Effective Date of this Agreement and which are not in conflict with those applicable to the Property as set forth in this Agreement if: (a) the application of such new or modified ordinances, resolutions, rules, regulations or official policies would not prevent, impose a substantial financial burden on, or materially delay development of the Property as contemplated by this Agreement and the Project Approvals and (b) if such ordinances, resolutions, rules, regulations or official policies have general applicability. Notwithstanding the foregoing, the parties agree that all of the provisions of Ordinance No. _-07 (adding Municipal Code Chapter 7.90 entitled Universal Design) shall apply to the Project, except the requirements set forth in Dublin Municipal Code section 7.90.060.8.1 through 7.90.060. B.5. 7.2. Approval of Application. Nothing in this Agreement shall prevent the City from denying or conditionally approving any subsequent land use permit or authorization for the Project on the basis of such new or modified ordinances, Dublin/Lin Family Development Agreement Page 6 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 ,resolutions, rules, regulations and policies except that such subsequent actions shall be subject to any conditions, terms, restrictions, and requirements expressly set forth herein. 7.3. Moratorium Not Applicable. Notwithstanding anything to the contrary contained herein, in the event an ordinance, resolution or other measure is enacted, whether by action of City, by initiative, referendum, or otherwise, that imposes a building moratorium, a limit on the rate of development or a voter- approval requirement which affects the Project on all or any part of the Property, City agrees that such ordinance, resolution or other measure shall not apply to the Project, the Property, this Agreement or the Project Approvals unless the building moratorium is imposed as part of a declaration of a local emergency or state of emergency as defined in Government Code § 8558. 8. Subsequently Enacted or Revised Fees, Assessments and Taxes. 8.1. Fees, Exactions, Dedications City and Developer agree that the fees payable and exactions required in connection with the development of the Project for purposes of mitigating environmental and other impacts of the Project, providing infrastructure for the Project and complying with the Specific Plan shall be those set forth in the Project Approvals and in this Agreement (including Exhibit B). The City shall not impose or require payment of any other fees, dedications of land, or construction of any public improvement or facilities, shall not increase or accelerate existing fees, dedications of land or construction of public improvements, or impose other exactions in connection with any subsequent discretionary approval for the Property, except as set forth in the Project Approvals and this Agreement (including Exhibit B, subparagraph 5.3.5). 8.2. Revised Application Fees. Any existing application, processing and inspection fees that are revised during the term of this Agreement shall apply to the Project provided that (1) such fees have general applicability; (2) the application of such fees to the Property is prospective only; and (3) the application of such fees would not prevent, impose a substantial financial burden on, or materially delay development in accordance with this Agreement. 8.3. New Taxes. Any subsequently enacted city-wide taxes shall apply to the Project provided that: (1) the application of such taxes to the Property is prospective; and (2) the application of such taxes would not prevent development in accordance with this Agreement. 8.4. Assessments. Nothing herein shall be construed to relieve the Property from assessments levied against it by City pursuant to any statutory procedure for the assessment of property to pay for infrastructure and/or services which benefit the Property. Dublin/L_in Family Development Agreement Page 7 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 ' 8.5. Vote on Future Assessments and Fees. In the event that any assessment, fee or charge which is applicable to the Property is subject to Article XIIID of the Constitution and Developer does not return its ballot, Developer agrees, on behalf of itself and its successors, that City may count Developer's ballot as affirmatively voting in favor of such assessment, fee or charge. 9. Amendment or Cancellation. 9.1. Modification Because of Conflict with State or Federal Laws. In the event that state or federal laws or regulations enacted after the Effective Date of this Agreement prevent or preclude compliance with one or more provisions of this Agreement or require changes in plans, maps or permits approved by the City, the parties shall meet and confer in good faith in a reasonable attempt to modify this Agreement to comply with such federal or state law or regulation. Any such amendment or suspension of the Agreement shall be subject to approval by the City Council in accordance with Chapter 8.56. 9.2. Amendment by Mutual Consent. This Agreement may be amended in writing from time to time by mutual consent of the parties hereto and in accordance with the procedures of State law and Chapter 8.56. 9.3. Insubstantial Amendments. Notwithstanding the provisions of the preceding paragraph 9.2, any amendments to this Agreement which do not relate to (a) the term of the Agreement as provided in paragraph 4.2; (b) the permitted uses of the Property as provided in paragraph 5.2; (c) provisions for "significant" reservation or dedication of land as provided in Exhibit B; (d) conditions, terms, restrictions or requirements for subsequent discretionary actions; (e) the density or intensity of use of the Project; (f) the maximum height or size of proposed buildings; or (g) monetary contributions by Developer as provided in this Agreement, shall not, except to the extent otherwise required by law, require notice or public hearing before either the Planning Commission or the City Council before the parties may execute an amendment hereto. The City Engineer shall determine whether a reservation or dedication is "significant". 9.4. Amendment of Project Approvals. Any amendment of Project Approvals relating to: (a) the permitted use of the Property; (b) provision for reservation or dedication of land; (c) conditions, terms, restrictions or requirements for subsequent discretionary actions; (d) the density or intensity of use of the Project; (e) the maximum height or size of proposed buildings; (f) monetary contributions by the Developer; or (g) public improvements to be constructed by Developer shall require an amendment of this Agreement. Such amendment shall be limited to those provisions of this Agreement which are implicated by the amendment of the Project Approval. Any other amendment of the Project Approvals, or any of them, shall not require amendment of this Dublin/Lin Family Development Agreement Page 8 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 Agreement unless the amendment of the Project Approval(s) relates specifically to some provision of this Agreement. 9.5. Cancellation by Mutual Consent. Except as otherwise permitted herein, this Agreement may be canceled in whole or in part only by the mutual consent of the parties or their successors in interest, in accordance with the provisions of Chapter 8.56. Any fees paid pursuant to Paragraph 5.3 and Exhibit B of this Agreement prior to the date of cancellation shall be retained by City. 10. Term of Project Approvals. 10.1. Pursuant to California Government Code Section 66452.6(a), the term of the vesting tentative map described in Recital F above shall automatically be extended for the term of this Agreement. The term of any other Project Approval shall be extended only if so provided in Exhibit B. 11. Annual Review. 11.1. Review Date. The annual review date for this Agreement shall be between July 15 and August 15, 2008 and each July 15 to August 15 thereafter. 11.2. Initiation of Review. The City's Community Development Director shall initiate the annual review, as required under Section 8.56.140 of Chapter 8.56, by giving to Developer thirty (30) days' written notice that the City intends to undertake such review. Developer shall provide evidence to the Community Development Director prior to the hearing on the annual review, as and when reasonably determined necessary by the Community Development Director, to demonstrate good faith compliance with the provisions of the Agreement. The burden of proof by substantial evidence of compliance is upon the Developer. 11.3. Staff Reports. To the extent practical, City shall deposit in the mail and fax to Developer a copy of all staff reports, and related exhibits concerning contract performance at least five (5) days prior to any annual review. 11.4. Costs. Costs reasonably incurred by City in connection with the annual review shall be paid by Developer in accordance with the City's schedule of fees in effect at the time of review. 12. Default. 12.1. Other Remedies Available. Upon the occurrence of an event of default, the parties may pursue all other remedies at law or in equity which are not otherwise provided for in this Agreement or in City's regulations governing development agreements, expressly including the remedy of specific performance of this Agreement. Dublin/Lin Family Development Agreement Page 9 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 12.2. Notice and Cure. Upon the occurrence of an event of default by either party, the nondefaulting party shall serve written notice of such default upon the defaulting party. If the default is not cured by the defaulting party within thirty (30) days after service of such notice of default, the nondefaulting party may then commence any legal or equitable action to enforce its rights under this Agreement; provided, however, that if the default cannot be cured within such thirty (30) day period, the nondefaulting party shall refrain from any such legal or equitable action so long as the defaulting party begins to cure such default within such thirty (30) day period and diligently pursues such cure to completion. Failure to give notice shall not constitute a waiver of any default. 12.3. No Damages Against City. Notwithstanding anything to the contrary contained herein, in no event shall damages be awarded against City upon an event of default or upon termination of this Agreement. 13. Estoppel Certificate. 13.1. Either party may, at any time, and from time to time, request written notice from the other party requesting such party to certify in writing that, (a) this Agreement is in full force and effect and a binding obligation of the parties, (b) this Agreement has not been amended or modified either orally or in writing, or if so amended, identifying the amendments, and (c) to the knowledge of the certifying party the requesting party is not in default in the performance of its obligations under this Agreement, or if in default, to describe therein the nature and amount of any such defaults. A party receiving a request hereunder shall execute and return such certificate within thirty (30) days following the receipt thereof, or such longer period as may reasonably be agreed to by the parties. City Manager of City shall be authorized to execute any certificate requested by Developer. Should the party receiving the request not execute and return such certificate within the applicable period, this shall not be deemed to be a default, provided that such party shall be deemed to have certified that the statements in clauses (a) through (c) of this section are true, and any party may rely on such deemed certification. 14. Mortgagee Protection; Certain Rights of Cure. 14.1. Mortgagee Protection. This Agreement shall be superior and senior to any lien placed upon the Property, or any portion thereof after the date of recording this Agreement, including the lien for any deed of trust or mortgage ("Mortgage"). Notwithstanding the foregoing, no breach hereof shall defeat, render invalid, diminish or impair the lien of any Mortgage made in good faith and for value, but all the terms and conditions contained in this Agreement shall be binding upon and effective against any person or entity, including any deed of trust beneficiary or mortgagee ("Mortgagee") who acquires title to the Property, or Dublin/Lin Family Development Agreement Page 10 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 .any portion thereof, by foreclosure, trustee's sale, deed in lieu of foreclosure, or otherwise. 14.2. Mortgagee Not Obligated. Notwithstanding the provisions of Section 14.1 above, no Mortgagee shall have any obligation or duty under this Agreement, before or after foreclosure or a deed in lieu of foreclosure, to construct or complete the construction of improvements, or to guarantee such construction of improvements, or to guarantee such construction or completion, or to pay, perform or provide any fee, dedication, improvements or other exaction or imposition; provided, however, that a Mortgagee shall not be entitled to devote the Property to any uses or to construct any improvements thereon other than those uses or improvements provided for or authorized by the Project Approvals or by this Agreement. 14.3. Notice of Default to Mortgagee and Extension of Right to Cure. If City receives notice from a Mortgagee requesting a copy of any notice of default given Developer hereunder and specifying the address for service thereof, then City shall deliver to such Mortgagee, concurrently with service thereon to Developer, any notice given to Developer with respect to any claim by City that Developer has committed an event of default. Each Mortgagee shall have the right during the same period available to Developer to cure or remedy, or to commence to cure or remedy, the event of default claimed set forth in the City's notice. City, through its City Manager, may extend the thirty-day cure period provided in paragraph 12.2 for not more than an additional sixty (60) days upon request of Developer or a Mortgagee. 15. Severability. 15.1. The unenforceability, invalidity or illegality of any provisions, covenant, condition or term of this Agreement shall not render the other provisions unenforceable, invalid or illegal. 16. Attorneys' Fees and Costs. 16.1. If City or Developer initiates any action at law or in equity to enforce or interpret the terms and conditions of this Agreement, the prevailing party shall be entitled to recover reasonable attorneys' fees and costs in addition to any other relief to which it may otherwise be entitled. If any person or entity not a party to this Agreement initiates an action at law or in equity to challenge the validity of any provision of this Agreement or the Project Approvals, the parties shall cooperate in defending such action. Developer shall bear its own costs of defense as a real party in interest in any such action, and shall reimburse City for all reasonable court costs and attorneys' fees expended by City in defense of any such action or other proceeding. Dublin/Lin Family Development Agreement Page 11 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 .17. Transfers and Assignments. 17.1 Developer's Right to Assign. All of Developer's rights, interests and obligations hereunder may be transferred, sold or assigned in conjunction with the transfer, sale, or assignment of the Property subject hereto, or any portion thereof, at any time during the Term of this Agreement, provided that no transfer, sale or assignment of Developer's rights, interests and obligations hereunder shall occur without the prior written notice to City and approval by the City Manager of City, which approval shall not be unreasonably withheld or delayed. The City Manager shall consider and decide the matter within ten (10) working days after Developer's notice is given to City and receipt by City Manager of all necessary documents, certifications and other information required by City Manager to decide the matter. In considering the request, the City Manager shall base the decision upon the proposed assignee's reputation, experience, financial resources and access to credit and capability to successfully carry out the development of the Property to completion. The City Manager's approval shall be for the purposes of: (a) providing notice to City; (b) assuring that all obligations of Developer are fully allocated as between Developer and the proposed purchaser, transferee or assignee; and (c) assuring City that the proposed purchaser, transferee or assignee is capable of performing Developer's obligations hereunder not withheld by Developer pursuant to Paragraph 17.3. Notwithstanding the foregoing, provided notice is given as specified in Paragraph 23, no City approval shall be required for any transfer, sale, or assignment of this Agreement to: (1) any entity which either (i) is an affiliate or subsidiary of Developer or (ii) results from the merger of Developer or its parent or is the purchaser of all, or substantially all, of the assets of Developer or its parent; (2) any Mortgagee; or (3) any transferee of a Mortgagee. 17.2 Release Upon Transfer. Upon the transfer, sale, or assignment of all of Developer's rights, interests and obligations hereunder pursuant to Paragraph 17.1 of this Agreement, Developer shall be released from the obligations under this Agreement, with respect to the Property transferred, sold, or assigned, arising subsequent to the date of City Manager approval of such transfer, sale, or assignment; provided, however, that if any transferee, purchaser, or assignee approved by the City Manager expressly assumes all of the rights, interests and obligations of Developer under this Agreement, Developer shall be released with respect to all such rights, interests and assumed obligations. In any event, the transferee, purchaser, or assignee shall be subject to all the provisions hereof and shall provide all necessary documents, certifications and other necessary information prior to City Manager approval. 17.3 Developer's Right to Retain Specified Rights or Obligations. Notwithstanding Paragraphs 17.1 and 17.2 and Paragraph 18, Developer may withhold from a sale, transfer or assignment of this Agreement certain rights, interests and/or obligations which Developer shall retain, provided that Developer Dublin/Lin Family Development Agreement Page 12 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 .specifies such rights, interests and/or obligations in a written document to be appended to this Agreement and recorded with the Alameda County Recorder prior to the sale, transfer or assignment of the Property. Developer's purchaser, transferee or assignee shall then have no interest or obligations for such rights, interests and obligations and this Agreement shall remain applicable to Developer with respect to such retained rights, interests and/or obligations. 17.4 Termination of Agreement Upon Sale of Individual Lots to Public. Notwithstanding any provisions of this Agreement to the contrary, the burdens of this Agreement shall terminate as to any lot which has been finally subdivided and individually (and not in "bulk") leased (for a period of longer than one year) or sold to the purchaser or user thereof and thereupon and without the execution or recordation of any further document or instrument such lot shall be released from and no longer be subject to or burdened by the provisions of this Agreement; provided, however, that the benefits of this Agreement shall continue to run as to any such lot until a building is constructed on such lot, or until the termination of this Agreement, if earlier, at which time this Agreement shall terminate as to such lot. 18. Agreement Runs with the Land. All of the provisions, rights, terms, covenants, and obligations contained in this Agreement shall be binding upon the Parties and their respective heirs, successors and assignees, representatives, lessees, and all other persons acquiring the Property, or any portion thereof, or any interest therein, whether by operation of law or in any manner whatsoever. All of the provisions of this Agreement shall be enforceable as equitable servitude and shall constitute covenants running with the land pursuant to applicable laws, including, but not limited to, Section 1468 of the Civil Code of the State of California. Each covenant to do, or refrain from doing, some act on the Property hereunder, or with respect to any owned property, (a) is for the benefit of such properties and is a burden upon such properties, (b) runs with such properties, and (c) is binding upon each party and each successive owner during its ownership of such properties or any portion thereof, and shall be a benefit to and a burden upon each party and its property hereunder and each other person succeeding to an interest in such properties. 19. Bankruptcy. 19.1. The obligations of this Agreement shall not be dischargeable in bankruptcy. 20. Indemnification. Dublin/Lin Family Development Agreement Page 13 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 20.1. Developer agrees to indemnify, defend and hold harmless City, and its elected and appointed councils, boards, commissions, officers, agents, employees, and representatives from any and all claims, costs (including legal fees and costs) and liability for any personal injury or property damage which may arise directly or indirectly as a result of any actions or inactions by the Developer, or any actions or inactions of Developer's contractors, subcontractors, agents, or employees in connection with the construction, improvement, operation, or maintenance of the Project, provided that Developer shall have no indemnification obligation with respect to negligence or wrongful conduct of City, its contractors, subcontractors, agents or employees or with respect to the maintenance, use or condition of any improvement after the time it has been dedicated to and accepted by the City or another public entity (except as provided in an improvement agreement or maintenance bond). 21. Insurance. 21.1. Public Liability and Property Damage Insurance. During the term of this Agreement, Developer shall maintain in effect a policy of comprehensive general liability insurance with aper-occurrence combined single limit of not less than one million dollars ($1,000,000.00) with a One Hundred Thousand Dollar ($100,000) self insurance retention per claim. The policy so maintained by Developer shall name the City as an additional insured and shall include either a severability of interest clause or cross-liability endorsement. 21.2. Workers Compensation Insurance. During the term of this Agreement Developer shall maintain Worker's Compensation insurance for all persons employed by Developer for work at the Project site. Developer shall require each contractor and subcontractor similarly to provide Worker's Compensation insurance for its respective employees. Developer agrees to indemnify the City for any damage resulting from Developer's failure to maintain any such insurance. 21.3. Evidence of Insurance. Prior to City Council approval of this Agreement, Developer shall furnish City satisfactory evidence of the insurance required in Sections 21.1 and 21.2 and evidence that the carrier is required to give the City at least fifteen days prior written notice of the cancellation or reduction in coverage of a policy. The insurance shall extend to the City, its elective and appointive boards, commissions, officers, agents, employees and representatives and to Developer performing work on the Project. 22. Sewer and Water. 22.1. Developer acknowledges that it must obtain water and sewer permits from the Dublin San Ramon Services District ("DSRSD") which is another public agency not within the control of City. Dublin/Lin Family Development Agreement Page 14 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 23. ~ Notices. 23.1. All notices required or provided for under this Agreement shall be in writing. Notices required to be given to City shall be addressed as follows: City Manager City of Dublin 100 Civic Plaza Dublin, CA 94568 FAX No. (925) 833-6651 Notices required to be given to Developer shall be addressed as follows: Martin W. Inderbitzen P.O. Box 1537 Pleasanton, CA 94566 FAX No. (_) -_ With copies to: James Tong Charter Properties 4690 Chabot Drive, Ste. 100 Pleasanton, CA 94588 FAX No. ( ) - A party may change address by giving notice in writing to the other party and thereafter all notices shall be addressed and transmitted to the new address. Notices shall be deemed given and received upon personal delivery, or if mailed, upon the expiration of 48 hours after being deposited in the United States Mail. Notices may also be given by overnight courier which shall be deemed given the following day or by facsimile transmission which shall be deemed given upon verification of receipt. 24. Agreement is Entire Understanding. This Agreement constitutes the entire understanding and agreement of the parties. 25. Exhibits. The following documents are referred to in this Agreement and are attached hereto and incorporated herein as though set forth in full: Dublin/Lin Family Development Agreement Page 15 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 Exhibit A Legal Description of Property Exhibit B Additional Conditions 26. Counterparts. This Agreement is executed in three (3) duplicate originals, each of which is deemed to be an original. 27. Recordation. City shall record a copy of this Agreement within ten (10) days following execution by all parties. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date and year first above written. CITY OF DUBLIN: /`~ By: ` ~ ~,.....~ t ..~.~---, Mayor Tr~n 5b rcpt i ATTEST: City Clerk CaYU[i~2 S~~u DEVELOPER: x Chang Su- -Lin (also known as Jennifer L n) APPROVED AS TO FORM: Martin W. Inde itzen Attorney for Chang Su-O-Lin APPROVED AS TO FORM: C' Attorney ~4wt. 13ak1« (NOTARIZATION ATTACHED) Dublin/Lin Family Development Agreement Page 16 of 16 For Wallis Ranch (Dublin Ranch West) Revised Wallis Ranch Development Agreement_FINAL.DOC; 114.200 CALIFORNIA .ALL-PURPOSE ACfCNOWLEDGMENT State of California /~ County of /~ ~ Q.W- ~ a-- Ong ~ai'200~( before me, ~-E'~U~1V~P ~' ~~~ r~1U+C~,Y / ~Vb ~(G Dade Here Insert Name and Title of the cer personally appeared ~ (-"'~ ~ ~r~~ i Name(s) of Signer(s) C/I~OtN# !! CdTMtIrIMDn;If ti41Y~T NOtgly hiiONc - C/I~MO ~jr~.+m',ssis~n~ 1 ~~ ~ ~ 2 Place Notary Seal Above WITNESS my h d and officia{l~sea~l.~' Signature ~ ~~"" r Signature of Notary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ^ Individual ^ Corporate Officer -Title(s): ^ Partner - ^ Limited ^ General ^ Attorney in Fact ^ Trustee ^ Guardian or Conservator ^ Other: Signer Is Representing: ~t~ who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/a;=e subscribed to the within instrument and acknowledged to me -that he/s#e/#~eq executed the same in his/herft~-eir authorized capacity(+es), and that by his/herr signature(sj on the instrument the person(s), or the entity upon behalf of which the person(sj acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. Top of thumb here Number. of Pages: Signer's -Name: ^ Individual ^ Corporate Officer -Title(s): - ^ Partner - ^ Limited ^ General ^ Attorney in Fact ^ Trustee ^ Guardian or Conservator ^ Other: Signer Is Representing: Top of thumb here ®2007 National Notary Association • 935D De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313-2402 • www.NatlonalNotaryorg Item #5907 Reorder. call Tall-Free 1-600-876-6827 STATE OF CALI/F,IORNIA ) COUNTY OF ) On Q~ ~ ~~1~ b xe me, ~ /~Q,~2CZ ~• ~Q/1~0.~_ , Notary Public, personally appeared ~ / G?i%~`cZ ~.i ~ , who proved to me on the basis of satisfact vidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. S my hand and official seal. SARA L. ESPINOSA~ Commission # 1622921 • Notary PubUC - CaiNornla Signature of No ublic t~Aycom~m. i ~~9, 20~ (Seal) WASOl 41740104v2 334166-00042 Exhibit A Legal Description of Property Dublin/Lin Family Development Agreement Page 1 of 1 For Wallis Ranch (Dublin Ranch West) -EXHIBIT A 16Q34-~0 ~ f ~8/fit) "GC ~~CT~IRaI'T "A„ L~ESiCI2IPTI~)l~ C)F ~i~IALLIS RAI~TCH, DUBLIN RA~.NCH WEST FOR PURPOSES OF THE DEVELOPMENT AGREEMENT BEING ALL THAT CERTAIN PATiCEL AS CQNVEYET? Tt? <°I-iANG SU_O LTN AND RECORDED Oi~t T1-IE bTi~ DAY OF JANUARI', 1982 IN SERIES NUh-1BER 82-00175t~, t'~LAI~-1I?I)A COUNTY REC(3RDS SITUATE IN THE COUNTY OI' ALAMEDA, STAT7/ OIL CA[.II~OI:NIA AND BEIhIC, ~10RE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT TItE 1v10ST SOUTHERLY C.CIRNIR OF SAID LANDS OF CHANG SU-O-LIN, AS SAID Ct~RN1<R LS SHOWN ON .RECnPT3 OF SURVEY Nth. 1005, I`ILEll TN BOOK 16 OF RECORDS t~F SURVEY AT PAGES 37 THROUGiI 51, ALAMEDA COUNTY RECCaRL)S, rI'1-IL;NG.,C FROM SAID POINT CAP BEGII~iNING, ALONG THE BOUNDARY OF SAID LANDS OF' CI-TANG; SU-{_) T,I:N .AS Sk3C)Wt~I t7N S:A1L7 RECORll OI~' SUIiUIY, 'I~HLi FOLLOWING 42 COURSES: 7.. NORTH 24°35'44" WEST 7 h7.6t7 FEET, 2. NORTH 17°22'Q5" EAST F3.02 FEET; 3. NORTH 14°32'55" WEST 7..52.22 FEET; 4. NORTH 32°43'55"` WEST 59.41 FEET'; 5. NORTH 87°51'S,a" t~VEST 23.96 FEET; 6. SOUTH 67°56'(75" 4VF~;T =I2:0~ FEET; 7. NORTH 75°(79'55" WEST 25.00 FEET'; 8. NORTH 12°36'55" WES1" 49.5 FEET; 9. NORTH 09°54'05" EAST 189.30 FEET; 10. NORTH 21°51'05" EAST 51.29 FEET; 13. NORTH 02°48'05" EAST 97.28 FEET; 12. NORTH 16°37'55" WEST 185.58 FEET; 13. NORTH 39°26'55" WEST X00.73 FEET; 14. SOUTH 79°12'05" WEST' 79.66 FEET; CIVIL ENGINEERING+tAN~ PLANNING+tAND S(IRVEYING 5'I 42 f rc~nklrr priv~a Suite 6; Pleacasariton. CA. 94588-3355 1925) 225-fKs40 \\ iv4spldata\Projtcts\16t)~4-4b\legals\EX-I-REORGANIZATIOhI_1-28-(W1.c9.or P1~t' 1 t7. 1b03~r;~p 1/~~jo 7~ ~+ ~y T'p~r~'g ~E'yJ71~d~.1/1'~L/7~dT t1~{ Y7l 7 ~? 7 7~ ~ p L}~t7~11i1 1$L.'LV Vl'~L:L1J S~~iV~~J:.y DUI3I.Il'~i RANd~H ~T F(~R PURP{~SES C?F THE DE'(-rELC?PNCENT AGREEMENT 15. NOT~TH 71°?0'S5" WEST 39.03 EEET; 16. T'wiOTZTH 08°37'55° tNF.ST 55.=Ib T'F.ET; 17, NORTH 43°T~'05" EAST 38.(}7 FEET; 18. NORTH 79°1fi'05"` EAS'T' 104.05 FEET; 19: Nt~IZTH 30°44'05" F.~~T 30.12 EEET; 20; I~?OPTI I 02°28'05" EAST 57.05 FI ET; 21. N4I~'i'I-T 25°-d 1'55" Wl?ST' :117.97 FEET; 22. NC3R1`I 134°"'?'55" ti~'EST 75.6G FEI "T'; 2`3. i~TOP~ I'H 1 i °-T9`5~" WEST 7.9.2$ FEET' 24. Iv(Ji:.'TH ~I°35'34" WEST 75.08 FEET; 25. NC~IiT'H 02°10'55" 6yE5T 92:~~I FEET; 26. NORTH 47°39'Oa" WEST 2,875.51 EEET 2?. Nt.)~TH 10°36`U7" EAST' X64.41 FI:I '1' 28. NtJT~T'H 73°51'42" EAST' 2,187.64 FEET; '9. SOU'T`H 25°13'29" EAS'T' 381.25 EEET; 30. SCIUT'H 72°44'27" EAST 407.53 EEET; 31. St3UTH 89°50'47" EAST 51.9.0$ FEET;. ' 32. SOUTH 14°14'55" EAST 533.39 FEET;: 33. SOUTH 08°4".1.'05" 4VLST 462.05 FEET; '~. SOUTH 30°01`20" EAST 297.69 FEET; ~~~ Gla/(d E'VGdNE~RINCy~tAN[~P(l~SNNING`*IANd~SURVd=YdN~ 51 -12 Franklin C.+ti:~t~ Suft~ B; Plecasc~ntpn, CA. 9~SE38-33SS (925) 225-Qb90 \ \hSspl~Iaea\P>•ojects\"L6034-40\)e~als\EX-I-REORG~NIZATIC~Nwt-28-09.drzc Page 2 of 3 1 b034-40 1/28/09 BC ~~HIEIT l,~t, DESCT~.IPTIC)1`~T C7F WALLIS IZAI~T~H, II)UELII`~ Rt~NCH SST FOR PURPC7SES CJF TI~[E DE`TELC3PIVIEI~II' A+GIZIEEIVIElVT 35. SOUTH 68°20'02" EAST 798.20 FELT; 3(i. SOUTH 30°48'42" EAST 132.35 I'EE"I` ~~. sOU'rH o~°1:7'48" WEST ~ s5.4o ~L>J~r; 38. SOUTH 48°34'38" WEST 88(}.52 FEET.; 39. SOUTH 1 I°45' 21 " W ES'i' 218.44 FEET 40. THENCE ALONG A NON TANGENT CURVE TO THE LEFT'FR~h-t 6~VHICH THE RADIt~t: POINT BEAR5 SOUTH'.. 64°45'06" EAST; ALt)1rIG' THI:. AI~'.C OF A I,CI'~3.00 FC?C7T RADIU{> CURVE, I-Ir1VING A CENTRAL ANGLl: O~~ 21°50'38" AIv'~D AN AP.C LENGTH CJl 3LY3.~i,''~ FEET; 41. THF,NCE SOUTH 03°24'16" V'JEST 1771..49 FEET 42. 'THENC'E SOUTH 53°54'16" WEST 265.32 FEET TO T:EIE POINT tJF L7F,GINIVING. CC7NTAINING 184.02 ACRES, MODE OR 1_,E~S ASSESSOR'S PARCEL NUIviB$R 986-0004-005-05 PREP.>aitl:D 13Y~ ROIIEI'.T CHAN, L.S. 5412 (I::X I'.`,~9J 30/ 207. Q) STA'3`E OF CALIFORNIA . %t A" t r ~~~ .~ ti fi ~~ D .TE ~~ CIVIL ENCUINEEI2INU•IANU PLANNING~LAND SURV6YiN~ bt A2 Franklin give Suite B, Pleasanlvn, C:A. 4Q598-3355 (925j 225-Ot790 \\ Mspldata\Projecis\ 1b034-~0\ IegaLs\EX-I-12EOItGANt2A't'tC~N_1-2ts-()9.cioc Page 3 of 3 [i1-29-2169 map ma~Gh check for tt~e job Ienown as Description a~ Development Agreement also :known as 16'Q94-4a' located in W~11s Ranch - Dublin, Ca ~rf Macl~~y Sumps Civil Engineers Inc. 1552 Eureka Road #1DCt Roseville, CA. 95661 Phone: (91.6) 7i3-1189 - Fay: x(916) 773-2595 Hn~ unctar y Bearing Di.:st~nce lforthinc~ Eating Inverse . ~ 0 . 1300 0.000 N24°35' 44.Or~T~ 161. r`_~i~£7 iiia.933 -67,260 ~ 161.-.600 N17°22' S,0"E Ei3.020 2.L17,0E3~i -481.448' 21:,676 N14°32' S5.0'rtJ 152:.210 351. X114 -8'6, 683 364.860 32°43'S50rr~, 59.410 4'tJ4.390 -118.806 421.481 M8?°51'SS.~Ix'irT 23.96D' 465.203 -142.750 429.688 S67°56' S,0"iJ 42.080 3119.475 -181,748 429.794 PT75° 9'S'S.OrrT~ zs.ona s~5.~`6 -205.914 446.227 rr12°36'55.0"`w 99.58(# 44~3.2s~ -216,743 494,3x1 1d 9°54' S,. O'"F 189,3tFa 630.7x9 -18}1.192: 657:083 N21°5:1' S.0"E 51.2901.. x'70.344 -7.65.102'. 698...147 ~ 2"48' S'.0""E 9?..2801 775.508 -160.348 ?91.911 PI16°37'5S.0.r~ 185.58:0 953.324 -213.965 976.930 A139°26' SS.>3"iJ 100.'730 1031. 107 -0:77.467 1067.787 S79°12' S.0"'iJ 79.6! 60 1D16.1Q2 -355.7.1? 1076.643 IM1I?~.°20" 55.{1rn~g r 39.0.1,:A0 102D. x64 -~92 .697 1.1011..0?~ N 8°37'SS.OrrW 55.~k6~1 10€73.496 -401.021 1155.32? N43°18, :5,0rrE' 38.0370': 1.1.11.201 -3'74.91.1 1:172.743 N79°16" S.Of'E 104.050 1130.577 -2'72.6111 116Z.99f; N30°44' S.0"$ 30.12;0 115t=~.467 -X57.237 1184.791 N ?°28' S.0°fE 57.05[1 1213.464 -254...831. 1239.933 NZ5°41'55,0"TAT 117.9`1'13 1.:315.?05 -305.137' 1354.77?. 1~I34°22 55.0r'td 75,560 13Es3.~:0i3 -348.713 1425.516 HT17°49' S5.0'r'~ 149.28.0 1524.;315 -394.426 1574,518 N44°35' 34.[1rrW ?5.080 1S 77.700 -447.. 137 1639.91.5 N 2°10'55.0"r Td 592.340 21.69.1391 -469.6~~9 2219.947 I+14^t°39' 3.0rrUt~ 2F75.51D 4106.7?OI --.2594.8.44 4857.657 I+710°~~' 7,0*~ 44,410 4s63.252 ~zso~.41'~>~ S2C37._721 8173°sl'42.O,trE 21~a'7.6:40 51.71.322 -4.:07.967 518"7.390 525°13'29.OrrE 381.250 482x..427 -'45.490 4832,6b6 S'~2 °44' 27.0"E 407'.830 4705. 41.6 143 .9'76 4707. 628 S89°50'47;0"`E 519.080 4701.035 663.054 4750.535 5.14°14'x5,0'"E 633,390 410?.u5s 794.3.3:8 4z 61.735 5 8°41' S.O:r"W 462.060 3730.291 724.568 380[1.D09 5.30° 1'20.0'TE 29?.690 3~1?2.SIi2 873.513: 3580.722 S68°20' Z.D'"E 196.100 3399.404 1057.617 35x0.12'7 530°48' plc .fl*'E 132.35[] 3285.734 112:5.409 34?3.125 S 1°17'48>0"'L1 185.400 3100.382 .1121.214 3296.891 548°34'38.0rr1~ 880.520 251?.821. 460.958 2559.669 S11°45'2'1.0"~i 218.440 2303.9x3. 416.4.52 2.341..298 Entering a nnn-tangent curare being ~ curve 1~reaking tQ the le~:t S64°45' 6.0~'E 1033.000 1853.345 1350.767 23011..440` Delta 21°50'38 ,0" Length = 393.823 Tangent = 11.335 1Y86°35'44.0rryT 1033.D00 1924.688 319.590 1951.0111 S 3°24'16.0"'B, 1771.490 156.324 214.392 2x5.333 x53 °54'16.D`xW °55.320 0'.0115 0.004 0.t~16 Area = 8015962,833 Square Feet- ar 184..022 h~re~. 1034-40 Page 2 of 3 EXHIBIT B Additional Conditions The following Additional Conditions are hereby imposed pursuant to Paragraph 5.3 above. Subparagraph 5.3.1 -- Subsequent Discretionary Approvals At Developer's sole discretion and in accordance with Developer's construction schedule, Developer shall apply for such other permits and approvals as may be required by other governmental orquasi-governmental entities in connection with the development of, or the provision of services to, the Project. City shall cooperate with Developer in its efforts to obtain such permits and .approvals. Subparagraph 5.3.2 -- Mitigation Conditions ,. Subsection a. Infrastructure Sequencing Program .The Infrastructure Sequencing Program for the Project is set forth below. (i) Roads: The project-specific roadway improvements (and offers of dedication) identified in Resolution No. 07-01 of the City of Dublin .Planning Commission approving Site Development Review for Wallis Ranch, Master Vesting Tentative Tract Map 7515, and Neighborhood Vesting Tentative Tract Maps 7711, 7712, 7713, 7714, 7715, and 7716 for Neighborhoods 1 through 6 for PA 05-051 (hereafter "SDR and VTM Resolution") shall be completed by Developer to the satisfaction of the City Engineer at the times and in the manner specified in the SDR and VTM Resolution unless otherwise provided below. All such roadway improvements shall be constructed to the satisfaction and requirements of City's City Engineer. (ii) Sewer. All sanitary sewer improvements to serve the project site (or any recorded phase of the Project) shall be completed in accordance with DSRSD requirements. (iii) Water. Dublin/Lin Family Development Agreement Page 1 of 6 For Wallis Ranch (Dublin Ranch West) -EXHIBIT B An all weather roadway and an approved hydrant and water supply system shall be available and in service at the site in accordance with the tentative map conditions of approval to the satisfaction and requirements of the City's fire department. All potable water system components to serve the project site shall be completed in accordance with the DSRSD requirements. Recycled water lines shall be installed in accordance with the tentative map conditions of approval (iv) Storm Drainage. The storm drainage systems off-site, as well as on-site drainage systems for the areas to be occupied, shall be improved consistent with the tentative map conditions of approval and to the satisfaction and requirements of the Dublin Public Works Department applying City's standards and policies which are in force and effect at the time of issuance of the permit for the proposed improvements.- Proper erosion control measures must be installed at development sites within the City during construction, and all activities shall adhere to Best Management Practices. (v) Other Utilities (e.g. gas, electricity, cable televisions, telephone)' Construction shall. be completed by phase prior to issuance of the first Certificate of Occupancy for any building within that specific phase of occupancy for the Project. Subsection b. Miscellaneous (i) Completion May Be Deferred. Notwithstanding the foregoing, the City Engineer may, in his or her sole discretion and upon receipt of documentation in a form satisfactory to the City Engineer that assures completion, allow Developer to defer completion of discrete portions of any public improvements for the Project if the City Engineer determines that to do so would not jeopardize the public health, safety or welfare. Subparagraph 5.3.3 -- Phasing, Timing (i) City and Developer expressly agree that there is no requirement that Developer initiate or complete development of the Project or any particular phase of the Project within any particular period of time, and City Dublin/Lin Family Development Agreement Page 2 of 6 For Wallis Ranch (Dublin Ranch West) -EXHIBIT B shall not impose such a requirement on any Project Approval. The parties acknowledge that Developer cannot at this time predict when or the rate at which or the order in which phases will be developed.. Such decisions depend upon numerous factors which are not within the control of Developer, such as market orientation and demand, interest rates, competition and other similar factors. (ii) In light of the foregoing and except as set forth in subsection (iii) below, the parties agree that Developer shall be able to develop in accordance with Developer's own time schedule as such schedule may exist from time to time, provided that such schedule is consistent with the Project Approvals,and Developer shall determine which part of the Project Site to develop first, and at Developer's chosen schedule. In particular, and not in limitation of any of the foregoing, since the California Supreme Court held in Pardee Construction Co. v. City of Camarillo, 37 Cal.3d 465 (1984), that the failure of the parties therein to consider and expressly provide for the timing of development resulted in alater-adopted initiative restricting the timing of development to prevail over such parties' agreement, it is the parties' desire to avoid that result by acknowledging that Developer shall- have the right to develop the Project in such. order and at such rate and at such times as Developer deems appropriate within the exercise of its subjective business judgment. (iii) Nothing in this Agreement shall exempt Developer from completing work required by a subdivision improvement agreement, road improvement agreement or similar agreement in accordance with the terms thereof. Subparagraph 5.3.4 -- Financing Plan Developer will install all improvements necessary for the Project at its own cost (subject to credits for any improvements which qualify for credits as provided in Subparagraph 5.3.6 below). Other infrastructure necessary to provide sewer, potable water, and recycled water services to the Project will be made available by the Dublin San Ramon Services District. Developer will enter into an "Area Wide. Facilities Agreement" with the Dublin San Ramon Services District to pay for the cost of extending such services to the Project. Such services shall be provided as set forth in Subparagraph 5.3.2(a)(ii) and (iii) above. Subparagraph 5.3.5 -- Fees, Dedications Subsection a. Traffic Impact Fees. Dublin/Lin Family Development Agreement Page 3 of 6 For Wallis Ranch (Dublin Ranch West) -EXHIBIT B Developer shall pay the Eastern Dublin Traffic Impact Fee ("TIF") established by Resolution No. 111-04, including any future amendments to such fee that may be in effect at the time of issuance of building permits. Developer will pay such fees no later than the time of issuance of building permits and in the amount of the impact fee in effect at time of building permit issuance. Developer further agrees that it will pay eleven percent (11 %) of the "Section 1" portion of the TIF in cash. Developer also agrees that it will pay twenty-five percent (25%) of the "Section 2" portion of the TIF in cash. If City amends its TIF fee and as a result the City's outstanding balance due on loans is less than 25% of total Section 2 improvements, the Developer shall pay such reduced percentage of the "Section 2" portion of the TIF in cash. Subsection b. Traffic Impact Fee to Reimburse Pleasanton for Freeway Interchanges. Developer shall pay the Eastern Dublin I-580 Interchange Fee in the amounts and at the times set forth in Resolution No. 155-98 and by any . subsequent resolution which revises such Fee that may be in effect at the time of issuance of building permits. Developer will pay such fees no later than the time of issuance of building permits and in the amount of the impact fee in effect at time of building permit issuance. Subsection c. Public Facilities Fees. Developer shall pay a Public Facilities Fee established by City of Dublin Resolution No. 214-02, including any future amendments to such fee that may be in effect at the time of issuance of building permits. Developer will pay such fees no later than the time of issuance of building permits and in the then-current amount of the fee at time of building permit issuance. Subsection d. Noise Mitigation Fee. Developer shall pay a Noise Mitigation Fee established. by City of Dublin. Resolution No. 33-96, including any future amendments to such fee that may be in effect at the time of issuance of building permits. Developer will pay such fees no later than the time of issuance of building permits and in the amount of the fee in effect at time of building permit issuance. Subsection e. School Impact Fees. Dublin/Lin Family Development Agreement Page 4 of 6 For Wallis Ranch (Dublin Ranch West) -EXHIBIT B School impact fees shall be paid by Developer in accordance with Government Code section 53080 and the agreement between Developer's predecessor in interest and the Dublin Unified School District regarding payment of school mitigation fees, Subsection f. fire Facilities Fees. Developer shall pay a fire facilities fee established by City of Dublin Resolution No. 12-03 including any future amendments to such fee that may be in effect at the time of issuance of building permits. Developer will pay such fees no later than the time of issuance of building permits and in the amount of the fee in effect at time of building permit issuance. Subsection q. Tri-Valley Transportation Development Fee. Developer shall pay the Tri-Valley Transportation Development Fee in the amount and at the times set forth in City of Dublin Resolution No. 89-98 or any subsequent resolution which revises such fee. Developer will pay such fees no later than the time of issuance of building permits and in the amount of the. impact fee in effect at time of building permit issuance. Subparagraph 5.3.6 -- Credit Subsection a. Traffic Impact Fee Improvements -- Credit City shall provide a credit to Developer for those improvements described in the resolution establishing the Eastern Dublin Traffic Impact Fee if such improvements are constructed by the Developer in their ultimate location. All aspects of the credit shall be covered by City's Administrative Guidelines for Eastern Dublin Traffic Impact Fees (Resolution No. 20-07 ("TIF Guidelines"). Subsection b. Traffic Impact Fee Right-of-Way Dedications -- Credit City shall provide a credit to Developer for any TIF area right-of-way to be dedicated by Developer to City which is required for improvements which are described in the resolution establishing the Eastern Dublin Traffic Impact Fee.. All aspects of the credits shall be governed by the TIF Guidelines. Subsection c. Public Facility Fee -Neighborhood Parkland Component Dublin/Lin Family Development Agreement Page 5 of 6 For Wallis Ranch (Dublin Ranch West) -EXHIBIT B City shall provide a credit to Developer for any neighborhood parkland to be dedicated by the Developer which exceeds the amount required under Chapter 9.28 of the Dublin .Municipal Code. Such credits shall be expressed in acres of parkland. All aspects. of the credits shall be governed by the City's Public Facilities Fees Administrative Guidelines (Resolution No. 195-99) Subparagraph 5.3.7 -- Miscellaneous (i) Term of Site Development Review Approval. Notwithstanding anything to the contrary in the City's Zoning Ordinance and section 10 of this Agreement, the term of the Site Development Review approval granted by the City of Dublin Planning Commission Resolution No. 07-01, and any subsequent revision to it, shallautomatically be extended for the term of this Agreement. (ii) Antone School Building. Developer agrees to relocate and restore the Antone School Building to the Community Green (Parcel 17 of Tract 7515) or such other location as may be approved by the Community Development Director. In the event the structure is damaged during relocation making it impracticable to restore the structure, as determined by the Community Development Director and Building Official, Developer shall, propose and. construct a replacement structure, the exterior design of which shall resemble the Antone School Building and shall be subject to the approval of the Community Development Director. 1138143.1 Dublin/Lin Family Development Agreement Page 6 of 6 For Wallis Ranch (Dublin Ranch West) -EXHIBIT B