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1973-0726_CRAIG DEVELOPMENT CORP_AgreementS ih .A G R c M c N T THIS AGREEMENT, made and entered into this 26th day of July 19__L3by and between LEADERSHLP HOUSING SYSTEMS, INC. hereinafter designated a New York. Corporation as SUBDIVIDER and the CITY OF SAN JUAN CAPISTRANO, a body politic of the State,of California, hereinafter designated as CITY: W I T N E S S E T H: WHEREAS, the SUBDIVIDER has prepared and offered for acceptance by the CITY a final map of Tract No. 8087 in the City of San Juan Capistrano, County of Orange, and WHEREAS, the SUBDIVIDEER as a condition of approval of said mapoby the CITY, is required to construct or agree to construct certain improvements, and WHEREAS, the installation of the public streets, sewers, storm drain, street lighting facilities as shown on the Plans in connection with the improvements for said Tract No. 8087 will fulfill the requirements; NOW, THEREFORE, IT IS AGREED by and between the parties hereto as follows: In consideration of the approval of said final map by the CITY, the SUBDIVIDER agrees: 1. That the SUBDIVIDER will at the sole cost and expense of the SUBDIVIDER construct and install all of the public facilities shown and delineated upon the "plans for Street Improvemen'ts'including Street Lighting System, Domestic Water System and Sanitary Sewers of Tract NO.' 0087 It on file in the office of the City.Clerk of the City of San Juan Capistrano; said "Plans for Street Improvements including Street Lighting System, Domestic Water System and Sanitary Sewers of Tract No. 8087" are hereby referred to and made a part of this Agreement as though fully set forth herein. 2. To secure the faithful performance of this Agreement, the SUB- DIVIDER agrees to furnish to the CITY a good and sufficient bond executed by a corporation authorized to transact surety business in the State of California in the sum of THREE HUNDRED FIFTY—NINE THOUSAND FIVE HUNDRED DOLLARS said bond to be approved by the CITY. ,3. Itis mutually agreed that the work herein required to be done by the SUBDIVIDER shall on the written request of the SUBDIVIDER made to the City Engineer be inspected by him and if found to be in order, accepted as it progresses. In such case the SUBDIVIDER shall be entitled to a partial refund of money deposited to secure faithful performance, in a sum in the same ratio to the total money deposited as the work accepted bears to the total work to be done, provided that the CITY'S Engineer has first certified to the City Council the amount of work completed and to be accepted acid the amount of partial refund to which the SUBDIVIDER is entitled and the City Council approves such refund and further provided that no refund in excess of Eighty-five percent (85%) of the total amount of the original deposit shall be made until all of the work is completed and accepted. 4. The SUBDIVIDER agrees to commence the construction and instal- lation of said improvements within 180 days from the approval of said map by the CITY and shall complete said work within 365 days from the date of said approval. This agreement is entered,into pursuant to the provisions of Div. 4, Pt. 2, Ch. 2, Art. 9 of the Business and Professions Code of the State of California IN WITNESS WHEREOF, L1Fi�ERS�IP ROUSING S,YST�,.INC. A flaw York Corporation has executed these presents as the SUBDIVIDER, and the CITY OF SAN JUAN CAPISTRANO has caused these presents to be executed by the Mayor of the City Council and attested by the City Clerk and ex -officio Clerk of the City Council, as the CITY, the day and year in t is to -0q,--' 5t'-7 above written. CIT ' ATTEST: a By: Wanda E. Anderson, City Clerk and ex -officio Clerk �1 STATE OF CALIFORNIA ll COUNTY Of Orange n 26 c On TLlyy, l94'� ,before me, the undersigned, a Notary Public in and for m said State, personally appeared_ Allen M. Condon known to me to be the.Vice President, and Barry Brief m known to me to be th�S3lStant Secretary y of the corporation that executed the within instrument, < and known to me to be the persons who executed the within instrument on behalf of the corporation therein named, and ac• ' o knowiedged to me that such corporation executed the within o instrument pursuant to its by-laws or a resolution of its board of 0 V directors. :•••••••••••••••••••••••••••e: OFFICIAL SEAL ! WITNESS my hand a official seal. j MARION PEAR$ON 8 • NOTARY PUbuC - CAiIrURNIA • ORANGE COUNTY •`ob Signature ' af'4� My Cptnrltlsdon Expires Oct.12,1976 1••••••••••••••••••••••••••N• Pearson Name (Typed xir4 Printed) - •. (This ansa for official notarial seal) It