Loading...
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