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�n <br /> y�,/�'� ✓ � � AGREEMENT FOR DEVELOPMENT <br /> 1 � Y <br /> This AGREEMENT, executed December /s , 1977, between <br /> WOODBRIDGE GOLF & COUNTRY CLUB, a California non-profit cor- <br /> poration, hereinafter called "CLUB" , and A & B CONSTRUCTION <br /> & DEVELOPMENT, a joint venture composed of ALADDIN REAL ES- <br /> TATE, INC. , a California corporation, and BI-CENTENNIAL <br /> BUILDERS, INC. , a California corporation, hereinafter called <br /> "DEVELOPER" . <br /> W I T N E S S E T H: <br /> This Agreement is made with reference to the following <br /> facts : <br /> Club owns approximately eighty-seven (87) acres to the <br /> North and East of the present developed golf course North of <br /> Woodbridge , San Joaquin County, California. Included in <br /> the eighty-seven (87) acres is approximately twenty-seven <br /> (27) acres , which has been zoned by the County of San <br /> Joaquin, RA-20. A description of said property is. attached <br /> hereto, marked Exhibit "A" . Club proposes , subject to the <br /> conditions hereinafter set forth, to convey to Developer <br /> said twenty-seven (27) , more or less , acres . It is under- <br /> stood and agreed by the parties hereto that Developer has <br /> obtained approval of the County of San Joaquin of a tenta- <br /> tive subdivision map of said twenty-seven (27) , more or <br /> less , acres. It is further understood and agreed by the <br /> parties hereto that Developer has received conditional ap- <br /> proval of the final subdivision map for thirty-nine (39) <br /> residential lots. <br /> The parties , therefore, agree as follows : <br /> 1. That Developer agrees to: <br /> (a) Complete a nine-hole golf course under the <br /> direction of Bert Stamps , Golf Course Architect, in accord- <br /> ance with the plans, drawings , specifications, and the con- <br /> tract with United Sprinklers Co. and John E. Slover, a copy <br /> of which is attached hereto , marked Exhibit "B" . The price <br /> is not to exceed $311, 000. 00, including the balance of fees <br /> owed to Bert Stamps in the sum of $10 , 000.00, and a sum not <br /> to exceed $6 , 000. 00 for lining and piping ponds. Developer <br /> will furnish to Club an improvement and security agreement <br /> issued by Stockton Savings and Loan Association to secure <br /> -1- <br /> _ 9or <br />