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1975-0917_BROWN, A.W. & DIANE_AgreementAGREEMENT FOR THE INSTALLATION OF STREET IMPROVEMENTS CAMINO CAPISTRANO AND AVENIDA PADRE (LOTS 19, 20, 21, TRACT 1269) THIS AGREEMENT is made as of this 17th day of September , 1975, by and between the CITY OF SAN JUAN CAPISTRANO, hereinafter called "CITY," and A. W. BROWN AND DIANE E. BROWN, hereinafter called "DEVELOPER." W I T N E S S E T H: WHEREAS, as a condition of approval of the construction of a commercial building at 32302 Camino Capistrano, the DEVEL- OPER is required to accomplish the following: 1. Dedicate, for street and highway purposes, right-of- way for a total width of fifty two (52) feet easterly from the centerline of Camino Capistrano. 2. Dedicate, for sidewalk purposes, a cut corner at the northeast corner of Camino Capistrano and Avenida Padre. 3. Install street improvements, extending from the centerline of Camino Capistrano a distance of fifty two (52) feet, to the right-of-way line and including the following: a. Street paving. b. Concrete curb and gutter. C. Concrete sidewalk and drive approaches. d. Necessary drainage facilities. e. Ornamental street lights. 4. Underground existing overhead utilities pursuant to the CITY'S Ordinance. WHEREAS, the DEVELOPER has dedicated the right-of-way for Camino Capistrano and Avenida Padre required by Conditions 1 and 2 herein, and the CITY has accepted said dedications; and WHEREAS, the DEVELOPER desires to guarantee his contribu- tion toward the accomplishment of Conditions 3 and 4 by posting a, faithful performance bond in the sum of Nine Thousand Dollars ($9,000); and WHEREAS, the City Engineer has determined that the afore- said Nine Thousand Dollars ($9,000) is a fair estimation of DEVELOPER'S share of the costs toward the fulfillment of Conditions 2 and 3; and WHEREAS, the DEVELOPER recognizes that improvements constructed westerly from the right-of-way line to his building line may be required to be altered by the Camino Capistrano Im- provement District. -1- i i NOW, THEREFORE, in consideration of the premises and the promises hereinafter contained, the CITY and DEVELOPER agree as follows: 1. CITY agrees to extend the time within which DEVELOPER must contribute its share of the improvement costs for street improvements and undergrounding of utilities for a period of three (3) years, to and including September 17, 1978 2. DEVELOPER agrees to, and does hereby, post a good and sufficient faithful performance bond in the total sum of Nine Thousand Dollars ($9,000) to guarantee the aforesaid contribution. Should the bond amount be insufficient at the time of construction, DEVELOPER agrees to pay the difference between the bond and actual construction costs. 3. DEVELOPER further agrees to remove, alter, change or reconstruct any and all improvements constructed between the Camino Capistrano right-of-way line and the building line if such removal, alteration, change or reconstruction shall be required by the Camino Capistrano Improvement District. If the street improvements and undergrounding become a part of a 1911 or other appropriate improvement or assessment district prior to the expiration of the date hereinabove set forth, the aforesaid bond will be exonerated upon a finding by the City Engineer that DEVELOPER'S obligation herein will be fully satisfied by its participation in the said district. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year hereinabove first written. CITY_OF SAN JUAN CAPISTRANO ATTEST: MARY ANY HANOVER," CITY CLERK APPROVED AS TO FORM: JA ES S. OKAZAKI, &rTY ATTORNEY DEVELOPER: A. W. BROWN DIANE E. BROWN -2-