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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" -1- 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 -2-