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1976-1222_CALIFORNIA FIRST BANK_Agreement0 r AGREEMENT BETWEEN THE CALIFORNIA FIRST r ' BANK AND THE CITY OF SAN JUAN CAPISTRANO FOR THE REMOVAL AND RECONSTRUCTION OF SIDEWALK THIS AGREEMENT is made and entered into as of this 22nd day of December 1976, by and between the California First Bank, hereinafter referred to as "BANK", and the City of San Juan Capistrano, a Municipal Corporation of the State of California, hereinafter referred to as "CITY;" R E C I T A L S WHEREAS, CITY has determined that removal and reconstruction of a portion of the street, curb and gutter, and sidewalk at the northwest corner of Del Obispo and Camino Capistrano is necessary for the safety and welfare of the citizens of San Juan Capistrano; and WHEREAS, BANK has determined that removal and reconstruction of Sidewalk on BANK's property, located on the northwest corner of Del Obispo and Camino Capistrano, is required for the safety of customers. NOW, THEREFORE, in consideration of the mutual covenants and conditions herein contained, the parties hereto agree as follows: 1. CITY shall provide plans and specifications for the removal and reconstruction of street, curb and gutter, and sidewalk as shown on the plan which, by reference to, is made a part hereof. Said plan is on file in the Office of the City Engineer, 32400 Paseo Adelanto, San Juan Capistrano. • • 2. CITY shall cause the construction of the work described in paragraph 1 above, by contract to the lowest responsible bidder, as approved by the City Council, City of San Juan Capistrano. 3. BANK shall reimburse CITY for removal and reconstruction of sidewalk on BANK's property, said removal and reconstruction to be accomplished in conjunction with, and as a part of, CITY's work on CITY's sidewalk adjacent to BANK's property. BANK shall reimburse CITY at the unit construction cost of sidewalk removal and recon- struction for the work on BANK's property, plus fifteen (15) percent of construction costs for administration, design and inspection. 4. CITY's work and BANK's work shall be accomplished as one job, BANK to reimburse CITY as outlined in paragraph 3 above. 5. BANK shall reimburse CITY in one (1) lump sum payment, said payment due and payable within _thirtZ_ (30_)_ days of__.c-QmpleUon of the project. Completion of the project shall be defined as filing of a Notice of Completinn.liy the CITY with the County of Orange. IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first hereinabove written. CITY OF SAN JUAN CAPIPIISTRANO Date: January 19, 1977 B �C��1-9 �D yglas B,,., -Nash, Mayor BYO O 1GZt� Mary Ar Hanover, City Clerk APPROVED AS TO FORM: CALIFORNIA FIRST .,BANK B�_ - fe i' Tal a Wakabay i i r Vice President City Attorn By J/ ) L - Edward D. Peterson - Vice President -2-