I would take the following actions:
First, add NETWORK=172.16.0.0 and BROADCAST=172.16.255.255 lines for eth1.
Next, clear your DHCP lease files, cause it can't hurt.
Code:
rm -r /var/lib/dhcp/*.lease
Or more drastically, remove the dhclient all-together.
Now, reboot and see what comes of it.