Loading...
1998-0903_KI/FKLA RANCHO REALTY_Transmittal • • + I y�I' MEMBERS OF THE CITY COUNCIL 32400 PASEO ADELANTO I r ; COLLENE CAMPBELL SAN JUAN CAPISTRANO,CA 92675 '%� ,� JOHN GREINER (949)493-1171 f�1j �' 100110mm • WYATTHART (949)493-1053(FAX) • Ism is 1961 GIL JONES September 3, 1998 • 1776 . CITY MANAGER DAVID M.SWERDLIN l l�� GEORGE SCARBOROUGH Wanda Chihak ZKS Real Estate Partners, LLC 3697 Mt. Diablo Blvd, Suite 100 Lafayette, California 94549 Re: Approval of Assignment and Assumption of Subdivision Improvement Agreement and Bond Substitution-Parcel Map 85-306 Dear Mr. Chihak: At their meeting of September 1, 1998,the City Council of the City of San Juan Capistrano took the following actions with regard to certain off-street improvements required of Parcel Map 85-306: 1. Approved the assignment of the Subdivision Improvement Agreement for Parcel Map 85- 306 from Kl/FKLA Rancho Realty, LLC (Kemper) to the Weseloh Family Limited Partnership; 2. Released the existing bond for off-site street improvements from KI/FKLA in the amount of $488,960; and, 3. Accepted the surety from the Weseloh Family Limited Partnership for off-site street improvements in theamount of$488,960. A copy of Resolution No. 98-9-1-4, setting forth the City Council's action is enclosed for your information. Also enclosed are certified copies of the executed "Assignment and Assumption of Improvement Agreement;"certified copies of the original bonds submitted in 1995, in the amount of$764,000,for off-site street improvements (Labor and Material Bond No. 100869980-95-100 and Statutory Performance Bond No. 100869980-95-100), which were reduced by Council action on April 16, 1996 to $488,960; and, the Rider to Bond No. 100869980-95-100 for the reduced amount of$488,960. The original"Assignment and Assumption of Improvement Agreement"has been forwarded to the Orange County Recorder's Office.Please be aware that the Resolution stipulates that assignment of the Subdivision Improvement Agreement and the full release of the surety will not be effective until the property has been transferred to Weseloh Family Limited Partnership. Ve truly yours, - L I CherylJohn•41 if City Clerk Enclosures cc: Weseloh Family Limited Partnership Aetna Casualty &Surety Company (with copies of released bonds) Stephen Julian DRUG USE Engineering and Building Director 1S Sam Shoucair -011104-14 San Juan Capistrano: Preserving the Past to Enhance the Future