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1976-0707_BENCH, GARY K._Agreementk AGF_EEp aT RELATING TO TETE POSTPONi:.dENT OF REQUIREMENT TO INSTALL PUBLIC IMPROVEMENTS This agreement is made as of this 7th day of July , 1976 , by and between the City of San Juan Capistrano, hereinafter called "CITY" and GARY K. BENCH herein.:fter called "Developer'. W I T N E S S E T H: WHEREAS, Developer is the owner of certain property in the City of San Juan Capistrano described as: and, Assessor's Parcel 649-101-05•, also known as 31527 Aguacate Road, San Juan Capistrano, California; WHEPTAS, De --.eloper seeks the permission of the CITY to: Postpone the installation of underground public utilities; and, WHEREAS, the use contemplated by Developer will add to the municipal responsibilities of an require further municipal services from CITY; and WHEREAS, Developer should properly undertake his share of the aforesaid additional burdens; and WHEREAS, the City Council has heretofore declared that all overhead utilities within the City of San Juan Capistrano will, at an appropriate time, be placed underground; and WHEREAS, the requirement that Developer underground the existing overhead utilities is a reasonable condition to the granting of authority herein sought; and WHEREAS, Developer desires to postpone the actual !'installation and dedication of said improvements until such time 'as CITY shall require them. NOW THEREFORE, Developer hereby agrees that the existing utility lines will be placed underground upon call of the CITY and declares that all of the property herein described is and shall be held, conveyed, hypothecated or incumbered, leased, rented, used, occupied and improved subject to the following covenants, which shall run with the land and shall be binding upon all parties having or acquiring any right, title or interest in said lands or any part thereof; 1. Devel or, his successors and as__gns, covenant and agree that the utility lines depicted on Exhibit A attached hereto r and b this reference made a y part hereof, shall be placed under- ground on call of the CITY; 2. Accordingly, Developer further covenants and agrees that no protest shall be made to any proceedings for the instal- lation of underground utilities, under any special assessment proceedings, whether conducted pursuant to the Improvement Act of 1911 or the Municipal_ Improvement Act ---of 1913, or any other applicable state or local law, and whether processed by the CITY or any other governmental entity having jurisdiction in the matter and for the purposes of determining property owners' support for such proceedings. This agreement shall be binding upon and inure to the benefit of the parties hereto, their successors and assigns, IN WITNESS WHEREOF, the parties have exr2^uted this agreement as of the date first above written. ATTEST: iARY ANN .1'OVER, CITY CLERK Approv d as to Form: �i•iEs S. oi:azahl CITY OF SAN JUAN CAPISTRANO • DEVELOPER By GARY,Y. BENCH J -2-