1996-0503_KI/FKLA RANCHO REALTY_Transmittal COI ft5
• ylMEMBERS OF THE CITY COUNCIL
( COLLENE CAMPBELL
•� WYATT HART
I) In(ORPO..1(o GILJONES
(ST IUSHED 1961 CAROLYN NASH
DAVID SWERDLIN
776
May 3, 1996 • (16 • CITY MANAGER
044440444/0
GEORGE SCARBOROUGH
Shelley Morris
Kemper Real Estate Management Company
27555 Ynez Road, Suite 200
Temecula, California 92591
Re: Assignment of Subdivision Improvement Agreements. Substitution of a
Portion of Bond. Amendment to Subdivision. Improvement Agreement -
Parcel Map 85-306
Dear Ms. Morris:
At their meeting of April 16, 1996, the City Council of the City of San Juan Capistrano
adopted Resolution No. 96-4-16-2, which:
1. Approved the partial assignment of the Subdivision Improvement Agreement for
Parcel Map 85-306 from Kemper to Toyota for off-site improvements;
2. Approved the reduction of Kemper's sureties to $488,960 and accepted Toyota's
surety in the amount of$275,040 for off-site improvement requirements;
3. Approved the Amendment to the Subdivision Improvement Agreement to require
completion of all required improvements prior to occupancy of each respective
parcel;
4. Excluded Toyota from the requirement to be integrated into a common Property
Owner's Association and from being covered by CC&R's; and,
5. Stipulated that the approvals would not be effective until the transfer of property
from Kemper to Toyota had been completed and recorded. We have received
verification that the transfer has been completed.
Copies of Resolution No. 96-4-16-2, the Partial Assignment of Improvement Agreement
and the Amendment to Subdivision Improvement Agreement are enclosed for your
information. The Agreements have been forwarded to the Orange County Recorder's
office. If you need any further information, please contact Sam Shoucair at (714)
443-6355.
' Very truly yours,
Cheryl Joh ion
City Clerk
Enclosures
cc: Engineering and Building Director
Sam Shoucair
•
32400 PASEO ADELANTO, SAN JUAN CAPISTRANO, CALIFORNIA 92675 • (714) 4931171