1973-0803_WESTPORT - APARTMENT HOME CO._Agreement (St Lt). • 0
AGREEbENT
THIS AGREMENT, made and entered into this 3rd day of
August , 1973 , between Westport - Apartment Home Co.,
a Limited Partnership, hereinafter referred to as "Subdivider" and the
CITY OF SAN JUAN CAPISTRANO, a body politic of the State of California,
hereinafter referred to as the "City".
W I T N E S S E T H
WHEREAS, the Subdivider has prepared and offered for acceptance
by the City, a final map of Tract No. 7195 in the City of San Juan
Capistrano, County of Orange; and
WHEREAS, the Subdivider, as a condition of approval of said map
by the City, is required to construct or agree to construct certain
improvements; and
WHEREAS, the Subdivider by said map offers for dedication to the
City for public use the improvements as shown on said map or on the "Plans
for Street Improvements Including Street Lighting System, Domestic Water
System and Sanitary Sewers of Tract No. 7195 1 now on file in the
Office of the City Clerk of the City of San Juan Capistrano; said Plans
are hereby made a part of this Agreement as though fully set out herein;
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WHEREAS, the Subdivider desires the City to accept the improvements
as shown on the map or on the Plans.
NOW THEREFORE, in consideration of the premises above and the
covenants hereinafterm the parties agree as follows:
1. City agrees to accept the _ Streets
offered for dedication by Subdivider.
2. Subdivider will, at the sole cost and expense of Subdivider
construct and install
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3. To secure the faithful performance of this Agreement,
Subdivider agrees to furnish to City a good and sufficient bond executed
by a corporation authorized to transact surety business in the State of
California in the sun of Sixty Four Tnousand Dollars
($ 64,000 ), said bond, to be approved by City. In lieu of said bond,
it is agreed that either or both of the following may be substituted:
a. Parties hereto will enter into a "three -party
agreement" with a California bank acceptable to
City, whereby said bank shall hold the sun of
Sixtv Four Thousand Dollars
($ 64,000 ) for construction of
Streets
and to make progress payments upon approval of
City's engineer, which approval shall not be
given until receipt by City of proper labor,
material and equipment releases; or
b. Subdivider shall enter into an agreement with its
lender whereby lender will deposit with a
responsible escrow agent or trust company, subject
to the approval of City, the full amount of
Four Thousand Dollars
($ 64,000 ) being the City Engineer's
estimate of costs for the construction of
Streets
4. The Subdivider agrees to commence the construction and
installation of said improvements within 180 days from the approval of
said map by the City and shall complete said work within 365 days
from the date of said approval.
IN WITNESS MIEREOF, Westport - Apartrent Hon -e Co.,
a Limited Partnership, has executed these presents as the Subdivider,
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:c STATE Of CALIFORN
COUNTY OF__6range ss.
Aug�rust 3 1973
,n_ before -me, the undersigned, a Notary Public in and for
C. B. xabalais
d _
said State, personally appear r ,
- 5ice Jean McLachlan
F. knovm 1° me to be 1'c_ -President, and_ ,
e o known to me 10 be the __Secretary of
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° IBest port Homc
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U the corporation that executed flee wilbin instrument and known ♦♦•♦•♦•♦•••••OHO♦N •♦♦♦•♦♦♦♦♦
u. to me to be the persons who executed the within instrument on JANE FAWRUP
m r - behalf of said corporation, said corporation being known to me •
o r ♦ NOTPoY PUBLIC CALIFORNIA
oy to be fhe general partner of_1 eSt�Ort _ PRINCIPAL OFFICE IN •
E Apartment Home Co. • ORANGE i.011 vT'/
• OFFICIAL SEAL My Commission Expire, Saw. 22, 1975
as the limited parinership that executed the within instrument, and ♦••••♦•N1N••♦♦e♦O•♦HH•♦••♦
`o acknowledged to me that such partner and that such partnership
rj u- executed the same.
;Q WITNESS my hand and olficial seal
Co Signal
uTe----�
'E J ne Fawrup
1 Name (Typed or Printed) (This area for official notarial sea])
and the City of San Juan Capistrano has caused these presents to be
executed by the Mayor of the City Council and attested by the City
Clerk and Ex -Officio Clerk of the City Council, as the City, the day
and year in this instrument first above written.
Westport - Apartment Home Co.,
a Limited Partnership
BY: WESTPORT HOME BUILDERS, INC.,
General Partner
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BY
CITY OF SAN JUAN CAPISTRANO
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ATTEST:
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