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AGREEMENT <br />This agreement dated this 1 stday of October, 1968, between <br />the City of Redlands, a municipal corporation herein called "City: and <br />Santa Fe Land Improvement Company, a corporation herein called "SFLI <br />W I T N B S S E T H: <br />Whereas, SFLI contemplates entering into escrow for the pur- <br />pose of purchasing approximately 300 acres of land, all of which is <br />within the City of Redlands and which is bounded on the north by San <br />Bernardino Avenue, on the east by California Street, on the south by <br />Lugonia Avenue and on the west by Mountain View Avenue for the purpose <br />of developing on, said lands an industrial park or District, and <br />Whereas, SFLI is willing to purchase said land and undertake <br />the large capital investment involved in its purchase and its future <br />development only if City is willing to perform certain perimeter street <br />improvement work and install certain utilities and vacate certain streets <br />and <br />Whereas, it is in the best interests of City to encourage <br />SFLI's contemplated development of said property to provide a needed <br />industrial development within the City with the resultant employment <br />opportunities and enlarged property tax base which such development will <br />create. <br />NOW, THEREFORE, IT IS AG ' - ED as fol.lmis <br />1. SFLI will complete its purchase of said property and will <br />thereafter undertake its development in an orderly fashion for the <br />