1993-0420_GLENFED DEV CORP._Reso No. 93-4-20-4 RESOLUTION NO. 93-4-20-4
ASSIGNMENT OF IMPROVEMENT AGREEMENT FROM GLENFED
DEVELOPMENT CORPORATION TO CCL REALTY, LTD. (TRACT 12423)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
JUAN CAPISTRANO, CALIFORNIA, APPROVING THE
ASSIGNMENT OF IMPROVEMENT AGREEMENT TO TRANSFER
ALL OBLIGATIONS, DUTIES AND RIGHTS FROM GLENFED
DEVELOPMENT CORPORATION, A CALIFORNIA CORPORATION,
TO CCL REALTY (CALIFORNIA) LTD.
WHEREAS, on February 17, 1988, the city of San Juan Capistrano entered into
an Improvement Agreement with Glenfed Development Corporation, a California
Corporation, providing for the construction of certain public and private improvements
within Tract 12423; and,
WHEREAS, said agreement specifically identifies the developer as "Glenfed
Development Corporation of 16601 Ventura Boulevard, Encino, California 91436; and,
WHEREAS, Paragraph 1 of the agreement indicates that said developer shall,
at its sole cost and expense, provide and furnish all labor, material and equipment for the
installation of all required improvements; and,
WHEREAS, said developer has sold the remaining empty, buildable lots to a
third party prior to completion of all obligations under the agreement; and,
WHEREAS, all necessary sureties required to ascertain completion of the
remaining unfinished improvements have been properly transferred and submitted to the
City; and,
WHEREAS, Glenfed and the third party, CCL Realty Ltd., have requested the
right to assign and be assigned the subject Improvement Agreement from Glenfed
Development Corporation to CCL Realty Ltd.; and,
WHEREAS, the City of San Juan Capistrano has no objection to said
assignment.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of
San Juan Capistrano does hereby approve the proposed transfer and assignment of said
Improvement Agreement from Glenfed Development Corporation to CCL Realty Ltd.
PASSED, APPROVED, AND ADOPTED this 20th day
of April , 1993.
GIL S, MAYOR
ATTEST:
•CITY CLE"
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, City Clerk of the City of San Juan Capistrano,
California, DO HEREBY CERTIFY that the foregoing is a true and correct copy of
Resolution No. 93-4_20_4 adopted by the City Council of the City of San Juan
Capistrano, California, at a regular meeting thereof held on the 20th day
of April , 1993, by the following vote:
AYES: Council Members Nash, llausdorfer, Campbell, Vasquez and
Mayor Jones
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL) , el
CHERYL JO ' S , CITY CLERK
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