1972-1006_WESTPORT - APARTMENT HOME CO._AgreementAG(;Llil1EP!T REGARDING OH-SIlE IMPROVEMENTS
THIS AGREEtIENT, made and entered into this _6th day of October
+, 1972 by and betm,een:
CITY OF SAN JUAN CAPISTRANO, a municipal corporation,
hereinafter referred to as "CITY";
and
WESTPORT - APARTMENT HOME CO., a Limited Partnership
hereinafter referred to as "WESTPORT";
and
GUARDIAN MORTGAGE INVESTORS, a Massachusetts Trust,'
hereinafter referred to as "LENDER". iJ
W I T N E S S E T H:
THAT WHEREAS, WESTPORT has submitted to the City Council of the City of
San Juan Capistrano a Tract Map for Tract No. 7,gd and has requested the City
Council to finally approve said Tract Map and such action has been taken by said
City Council; and
WHEREAS, as a condition to the approval of said Tract Map for Tract
No. 7194 and the authorization for the recording thereof, and the acceptance of
the dedication of the streets, alleys and other improvements in said subdivision,
WESTPORT is required to enter into an Agreement with the CITY to do and perform the
work hereinafter specified and to pay all labor and materials in connection therewith,
as required by Sections 11611 and 11612 of the Business and Professions Code of the
State of California; and
WHEREAS WESTPORT has agreed to furnish or cause to be furnished and pay
for all labor, materials and equipment, and perform or cause to be performed and pay
for all work to make and complete the following improvements inside of Tract No. 7194
to wit: Install and lay all curbs, gutters, construct all streets and excavating,
paving, etc., lay and install all street signs; to lay and install all sewer mains
and lines, including manholes, house connections and structures, and all water mains,
meters, house laterals, and any miscellaneous requirements inside of Tract No. Biqa >
and to install certain offsite improvements consisting of storm drains, sewers, flood
control, drainage and slope easements, and to pay all costs of engineering necessary
in connection therewith, all in accordance with the plans and specifications of the
Engineers of the CITY, said improvements to be completed on or before one (1) year
from date hereof; and
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•
WHEREAS, in lieu of the posting with the CITY of a surety bond or deposit,
as required by Section 11612 of the Business and Professions Code of the State of
California, WESTPORT desires to deposit with LENDER, cash in lawful money of the United
States, in an amount estimated to be necessary to pay for the cost of all labor,
materials and equipment and the performance of all work for the installation and
completion of said improvements, as a guarantee that WESTPORT will make and complete
said improvements as herein required and pay the cost tbereof.
NOW THEREFORE, FOR AND IN CONSIDERATION OF THE MUTUAL. COVENANTS AND PROM-
ISES OF THE PARTIES HERETO, AND UPON THE EXPRESS TERMS AND CONDITIONS HEREINAFTER SET
FORTH, IT IS AGREED BY AND BETWEEN THEM, EACH FOR THE OTHER, AS FOLLOWS:
FIRST: That in consideration of the final approval of the map of said
Tract No., 7194 and the recording thereof, WESTPORT does hereby agree to deposit
with the LENDER, pursuant to Section 11613 of the Business and Professions Code of
the State of California, the sum of .j. 4,soo.00 in lawful money of the United State,
to be held by the LENDER in accordance with said Section 11613 of the Business and
Professions Code.
1. (a) WESTPORT agrees to furnish or cause to be furnished all labor, ma-
terials and equipment and to perform or cause to be performed all work, and to make
the improvements hereinabove specified and described in a good and workmanlike manner,
all in accordance with the plans and specifications of the City Engineer of the CITY
and to pay all costs of such labor, materials and equipment and for the performance of
said wort: at the time and in the manner as required by the CITY, said improvements to
be completed on or before one (1) year from date hereof.
(b) That the money deposited BY WESTPORT with LENDER to be held as
security for the furnishing of all labor, materials and equipment, and the performance
of all work to make and complete the improvements aforesaid in Tract No. 7194 , may
be used from and after the execution of this Agreement to make progress payments to pay
for materials furnished and labor performed for the making, installation and completion
of said improvements as follows:
(c) That progress payments shall be made not more often than twice
monthly, and in the manner here provided.
(d) That all such progress payments shall be made directly by LENDER
to the person, firm or corporation furnishing such materials or performing such labor.
(e) That LENDER shall be provided with an approved inspection to
certify to the quantity of work performed for the purposes of paying for said work,
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the inspection to be made by or under the supervision of R. M. Galloway R Associates,
Inc., Civil Fngincers licensed by the State of California, and approved by the City
Engineer; said certification to be submitted with invoices or bills to the City
Engineer.
(f) That no progress payments shall be made until the City Engineer
has reviewed and approved the certification and given written notice to the LENDER.
(g) That no progress payment shall be made for more than ninety (907)
percent of -the value of any installment of work.
(h) That certification of work performed shall not constitute final
acceptance by the CITY.
(i) That no progress payments shall be paid except for materials and
equipment furnished for such improvements or labor performed on the improvements and
no payments shall be made, unless or until itemized statements of such materials
furnished, equipment used, or labor performed has been approved by WESTPORT or its
authorized agent, designated in writing to the LENDER.
(j) That all of the funds deposited with LENDER for payment of labor,
materials, etc., and not paid out in progress payments, as hereinbefore set forth,
shall be held by the LENDER until the City Engineer has certified to one hundred (1007)
percent completion on the project and for a further period of thirty-five (95) days
after the filing of notice of completion of said tract improvements, or in the event
of failure to file a notice of completion, until ninety (90) days after certification
of completion by the CITY.
((S) That the City Engineer will be furnished with a copy of the
recorded notice of completion.
(1) That the City Engineer will be furnished with true and conformed
copies of the contract documents for all improvement work performed under this Agreement.
SECOND: That if WESTPORT shall well and truly furnish or cause to be furnished
all labor, materials, and equipment and perform or cause to be performed all work
hereinabove specified to be performed within said period and made said improvements
as herein agreed, then this obligation shall be void upon the delivery to the LENDER
of a statement signed by the City Engineer of the CITY OF SAN JUAN CAPISTRANO,
certifying to the completion of said improvements to the satisfaction of the CITY
and in accordance with the specifications of the City Engineer of the CITY, but, in
the event that WESTPORT shall fail to furnish or cause to be furnished all labor,
materials and equipment and perform or cause to be performed all work required to
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make and complete said improvements as herein specified and to pay therefor, all
within the time and in the manner herein set forth, then and in that event said
LENDER shall, upon demand by the CITY, pay to said CITY said sum deposited with
it, or so much thereof as the City Engineer of the CITY shall certify is required
to make and complete said improvements, or so much thereof as shall remain in said
fund in the event that a portion thereof has been paid out in progress payments,
provided that no payment shall be made by LENDER until ten (10) days after demand
by the CITY.
The LENDER hereby agrees to hold said funds so deposited with -it, in
accordance with all of the terms and conditions herein set forth, and upon failure
of WESTPORT to furnish or cause to be furnished all labor, materials and equipment,
and perform or cause to be performed all work herein required to be furnished and
performed by WESTPORT and to make and install the improvements hereinabove specified,
and upon receipt of a certificate of the City Engineer of the CITY, certifying that
said labor, materials and equipment have not been furnished and said work has not
been performed and said improvements have not been made, installed and completed in
accordance with the plans and specifications of the CITY, as furnished by the City
Engineer and within the time herein required, that said LENDER will pay to the CITY
the amount of money deposited with it by WESTPORT and held as security for the making
of said improvements in said Tract No. 7194 , as hereinabove more particularly
set forth in the performance of this Agreement, or so much thereof as may be certified
by the City Engineer of the CITY would be required to make and complete said improve-
ments, or in the event progress payments have been made prior to default hereunder,
then pay to the CITY so much of said funds as sh6ll remain in the hands of said
LENDER at such time. But, if said WESTPORT shall well and truly furnish or cause
to be furnished all labor, materials and equipment and perform or cause to performed
all services and work necessary to make and complete the improvements in Tract No.
7194 as hereinabove more particularly mentioned and described in accordance
with the specifications of the City Engineer, within the time required, the City
Engineer of the CITY shall deliver to said LENDER a certificate, in writing,
certifying that said improvements have been made and completed as herein required,
and, upon receipt of such certificate, the funds deposited with said LENDER, or so
much thereof as shall remain in its hands, shall be disposed of as directed by
WESTPORT with the consent and approval of the LENDER.
Upon failure of the LENDER to hold and disburse said funds as herein
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provided, or comply V1itIi the terms of this Art reument, it shall become liable to the
CITY for all loss or damage suffered by the CITY by reason of the failure of WESTPORT
to make and install improvements in said Tract No. 7194 as herein required, but
not exceeding the amount of the deposit herein required to be made by WESTPORT with
the LENDER.
All charges and fees shall be paid by WESTPORT, and the CITY shall be at
no expense or otherwise obligated under this Agreement.
THIRD: It is hereby understood and agreed that the time for completion
of said improvements in said Tract No. 7194 is one (1) year from and after the
date hereof; subject, however, to delays caused by reason of a suspension ordered by
the City Engineer for a cause not due to an act, default or omission of WESTPORT or
because of any other act of neglect of the CITY or its agents, officers or employees,
without contributory fault or negligence on the part of WESTPORT, its agents, employees
or subcontractors, or if the work should be delayed by fire, storm, flood or other acts
of God, by war, or acts of public enemies, by strikes, by unusual delays, unavoidable
casualties or causes beyond the control and without the fault or negligence of
WESTPORT or for any other reason which, in the opinion of the City Engineer is proper
justification for such delay, the time of completion shall be extended for a length
of time equal to the delay caused by any of the above mentioned causes.
FOURTH: WESTPORT agrees to execute and file a notice of completion promptly
upon the completion of the furnishing of all labor and materials and the making and
completion of said improvements.
FIFTH: WESTPORT shall take out and keep in force until the completion of
the work herein agreed to be done by WESTPORT, at WESTPORT's expense, public liability
and property damage insurance in which CITY shall be named as an additional insured
to protect CITY against any and all liability to the public incident to the use of or
resulting from any accident occurring in, or about the streets, highways and public
places dedicated to the public by Tract No. 7194 , the liability under such
insurance to be not less than One Hundred Thousand Dollars ($100,000.00) for any one
person injured, or Three Hundred Thousand Dollars ($300,000.00) for any one accident,
or Five Thousand Dollars ($5,000.00) property damage.
SIXTH: It is mutually agreed to an understood by all parties hereto that,
wherever herein mention is made of a deposit of funds held by the LENDER, it is meant
that such funds consist of an absolute and irrevocable commitment of money to the
CITY, pursuant to the terms of this Agreement.
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SEVENTH: IC is mutually agreed to and accepted by all parties that con-
current with the execution of this Agreement, WESTPORT shall make an assignment of
all its rights under all contracts which it has entered into with the subcontractors
for performance of the work herein described to the CITY.
Such assignment shall be delivered to and held by the LENDER and, in the
event that for any reason whatsoever, wilful or non -wilful, with or without fault,
WESTPORT shall not complete as herein contemplated, then said assignment shall be
handed to the CITY for its use and benefit in the completion of the herein described
work.
Date: le -13--7_-2.
Date: /D—/3—��
Dated: /c
Da ted :
Dated:
CITY OF SAN JUAN CAPISTRANO,
a municipal corporation
By �+ , l i4ld%tpJ�
Mayor Y --
By : 4Z'4 .�^ d2�✓�
City Clerk
WESTPORT — APARTMENT HOME CO.,
M
M
� U Z
ecretary
GUARDIAN MORTGAGE INVESTORS,
a Massachusetts Trust
am
Dated: At
i/ Assistant Secretary`
The name Guardian Mortgage Investors is the design ion of the Trustees
for the time being under a Declaration of Trust, dated March 29, 1966,
as amended. This agreement and every undertaking made pursuant hereto
is executed in the name of and on behalf of the Trustees of Guardian
Mortgage Investors by one of the Trustees of the Trust, duly authorized
by all of the Trustees, in his capacity as such, and not individually,
under the aforesaid Declaration of Trust, and the obligations thereof
shall be understood and expressly stated to be not binding upon any of
the Trustees, shareholders, officers, or agents of the Trust, personally,
but binding only upon the trust estate of Guardian Mortgage Investors.
All persons dealing with Guardian Mortgage Investors must look solely
to the trust property for the enforcement of any claims against Guardian
Mortgage Investors.
STATE OF )
ss.
COUNTY OF )
On this day of , before me, a
Notary Public in and for the said STATE, personally appeared
, known to me to be the and _
known to me to be the of the
that executed the
within instrument, knor:n to me to be the persons who executed the within
instrument on behalf of Siad—___ and
ack=,.,ledged to me that executed
the same
STATE OF CALIFORNIA
SS.
COUNTY OF ORANGE
Notary Public
On this L2 ,, qday of ( � (B( e,5� , before me,
— Tapnp Fawruo , a Notary Public in and for said State
personally appeared, Dean Rickbeil known to me to be the
es Tdent, and Jean McLachlan
nown to me
Secretary of W_aatnort Home s 1; i.riMl Inc. the corporation that
executed the within instrument on behalf of said corporation, said corporation
being known to me to be one of the partners ofCo.
the partnership that executed t e within instrument, and
acknowledged to me that such corporation executed the same as such partner and
that such partnership executed the same.
WITNESS my hand and official seal.
JANE FAWRUP
NOTARY PUBLIC -CALIFORNIA '
PRINCIPAL OFFICE IN - >
j ORANGE COUNTY j Nktar Publ is
• CFF(CIAL SEAL MY Commlulen Expi'a, 599'. 72, 1975
STATE OF
ss.
COUNTY OF�,rr j
On this day of before me,
the undersigned, a Notary Public in and for t e State, per onally appeared
Lf,'��GL� and 4,e ttZ, AZplerinroknown t me
to be the President and t e_
Secretary respectively, of the corporation that executed the within instrument,
and also known to me to be the persons who executed it on behalf of such corpora-
tion, and acknowledged to me that such corporation executed the same, and further
acknowledged to me that such corporation executed the within instrument pursuant
to its by-laws or a resolution of its Board of Directors,
No a y bTi �� ---
Notary Public. c yc c , „_, u ..
Ny cemmK 13;1 C; -I , _ _ '''175
WESTPORT - APARTMENT HO?IE CO. CITY OF SAN JUAN CAPISTRANO
WHEREAS, WESTPORT - APAP,Tt1ENT HO,�E CO. does intend to dedicate
to the CITY OF SAN JUAN CAPISTRANO certain streets and alleys within
Tract No. 7194 located within said City; and
WHEREAS, the CITY 0= SAN JUAN CAPISTRANO does intend to accept
the dedication of said streets and alleys; and
WHEREAS, the present state of development of said Tract No.
7194 and adjoininc properties owned and under development by
VE PORT - APARITIE;T H01.1E CO. is such that said streets and alleys shall
run into and terminate upon the undeveloped adjacent lands owned by
WESTPORT - APAP.TIENT H06;E CO.; and
WHEREAS, it is contemplated that the alignment of said streets
and alleys may make possible the drainage of surface eaters onto and
across the lands owned by WESTPORT-APARTt'1,[IT HOitE CO. which are
adjacent to Tract No. 7194 , and that such drainage might potentially
cause damage to said lands or the developments or improvements placed
thereon;
WESTPORT - APARTMENT HOLE CO. DOES THEREFORE AGREE to release to
the CITY OF SAN JUAN CAPISTRANO, and to hold said City harmless from any
claims which might arise on the part of WESTPORT - APARTMENT HOME CO.
for any damage, injury, inconvenience or any claim of any nature
whatsoever, which may arise by reason of surface tater drainage onto
and over lands owned by WESTPORT - APARTMENT HOME CO. adjacent to
Tract No. 7194 as such drainage may be facilitated by the presence
of and the location of public streets and ways within said Tract No.
7194
.For the purpose of this Agreement, the release of WESTPORT-
APARTMENT HOME CO. herein extended in favor of the CITY OF SAN JUAN
CAPISTRANO shall be binding upon WESTPORT - APARTMENT HOME CO. and any
and all subsidiaries, joint venturers, contractors and employees who
may own, hold an interest in, or be engaged in the development of the
aforementioned land adjacent to Tract No. 7194
In executing this release, it is expressly understood that the
provisions of this Agreement are for the purpose of protecting the City
from any claims arising from the drainage of waters from the public ways
heretofore described onto adjoining undeveloped land. It is further
understood that this release is tendered by WESTPORT - APARTMENT HOME CO.
to the CITY OF SAN JUAN CAPISTRANO upon the understanding that the terms
and conditions of the release shall be cancelled and of no further, force
and effect at such time as the development of the adjoining land provides
appropriate drainage from said public ways.
Dated: September 27, 1972
WESTPORT - APARTMENT HOME CO., a
Limited Partnership
BYE,, WEffKT HOME BUILDERS, INC.,
1G�erl?\ rtner
BY:
By � G
H, , PresiidenQt
�-�---moi
Ian, retary
CITY OF SAN JUAN CAPISTRANO, a
Municipal Corporation
BY Q�n%AA-Qh�
�� '/
0
'a
a,, 7�4
Ila a ems.
Mr. Jack Tipich
Westport Apartment Hone Co.
911, EastKat--Ila Ave.
A.(anaia, C:aii.x 7^3D5
0
�ECeI VCU
' 7972
BAN c.. ,
�u F
_Rq"ql 1
el -ea eYeoa...ZZL,
17, 19,12
Subject, Tract No. 7154 (A part of Tentative Map 7160)
-My—of San Juan Capistrano
Dear Ir. Tipic`::
Enclosed herawI t'i are t!w following documents fully executed
by the City relating to the subject subdivision:
1. Three -party agreeoenc regarting offsita im.-wovoments
(� c:,nr "O `.0 a r,'i do .'o rt g g
Investors. ^ur.uant t0 Our C1".niion� co fe'rt`tice an'
a cor.ference tri t;: 'rs. ricLacnlan this office !:as removed
a notatioe" e' tVc sixths::eet relatinc to a conditional
anoroval uaraia":Gri'%'.GEi I(ivesters, ;I.ic:i is no
lonoEr apolici6lc to i..;e a<,rce*lent.
2.// Two sots of agr,e-ncnts r0 atinr to the street improvements,
sewer system, Street liy`ting systen, and mcnumentation.
3. 1
0 One copy of the drainage acreement.
We are releasing t".., tract riap to:ay to your title corpary for
processing and recoreaticn. Please furnish to our Santa Ana
office or the City !'all thF rcni;ired e.u-licatc tracing, reproducible
ozalid and four olueline. prints of the tract map as recorded.
We appreciate very much the overall procedur^s employed by your
office in processing this tract rap. All of our r,ork nro,rams
and general iiaisor worked out cr.c, in particular your advance
schedutine was very beneficial in bringing the project to a
conclusion.
Very truly yours
Encl. Jack Y. Kubota, City Engineer
City of San Juan Capistrano
cc: Director of Public Works
JYK/le
Tr. 7194
AGREEMENT
THIS AGREEMErvT, made and entered into this 3rd'day of
October , 15712, between WESTPORT - APARTMENT HOME CO.
a Limited Partnership, hereinafter referred to as "SUBDIVIDER",
and the CITY OF SAN JUAN CAPISTP.ANO, 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. 7194 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.7194
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; and
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 hereinafter, the parties agree as follows:
v
1. CITY agrees to accept the
Street Lighting
offered for dedication by SUBDIVIDER.
2. SUBDIVIDER will at the sole cost and expense of
SUBDIVIDER construct and install
Street Lighting
3. To secure the faithful performance of this Agree-
ment, 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 sum of Six Thousand
Dollars and 00/1OQ$ 6,000.00 __) , 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
sum of Six Thousand Dollars and 00/100ths
($ 6,000.00 ) for construction of
Street Lighting
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 agree-
ment 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
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Six Thousand Dollars and 00/100ths.
($ 6,000,00 )being the
CITY's engineer's estimate of costs
for the construction of
Street Lighting
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 WHEREOF, WESTPORT - APARTMENT HOME CO.
a Limited Partnership, has executed these presents as
the SUBDIVIDER, 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.
4ESTPORT - APARTMENT HOME CO. CITY OF SAN JUAN CAPISTRANO
a Limi ed Partnership
BY: Y7 T E BUILDERS, INC. ° —^
ne a er BY:
Ma or
BY: i
Pr s ent
BY:
ATTEST:
CITY CLERK AND EX OFFICIO CLERK
OF SAID CITY COUNCIL
=I=
AGREEPIENT
THIS AGREEMENT, made and entered into this 3rd day of
October 1972 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. 7194 in the
City of.San Juan Capistrano, County of Orange; and
WHEREAS, the SUBDIVIDER, as a condition of approval of
said nap -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. 7194"
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; and
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 hereinafter, the parties agree as follows:
0
1. CITY agrees to accept the Sewers
offered for dedication by SUBDIVIDER.
2. SUBDIVIDER will at the sole cost and expense of
SUBDIVIDER construct and install Sewers
3. To secure the faithful performance of this Agree-
ment, 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 sum of Twenty -One
hnusand ❑ollars.($21.000.00 ) , said bond, to be approved by
CITY. In lieu of said bond, it is agreed that either or both
of the following may be substituted:
A. Parties hereto will enter into a
"three -party agreement" with a
California bank acceptable to CITY,
whereby said bank shall hold the
sum of Twenty -One Thousand Dollars and 00/100ths
($ 21 ,000.00 ) for construction of
Sewers
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 agree-
ment 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
-2-
a � •
Twenty -One Thousand Dollars and
($ 21,000.00
100ths
being the
CITY's engineer's estimate of costs
for the construction of
Sewers
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 WHEREOF, WESTPORT - APARTMENT HOME CO.
, a Limited Partnership, has executed these presents as
the SUBDIVIDER, 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
a Limited Parti
By: -.-\%.L'
PX%_S_1,NE
BY:
CITY OF SAN JUAN CAPISTRANO
BUILDERS, INC.
BY:
Mayor
ATTEST:
CITY CLERK AND EX OFFICIO CLERK
OF SAID CITY COUNCIL
-3-
AGREMENT
0
THIS AGREEMENT, made- and entered into this 3rd day of
October 1972. 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. 7194 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.7194 "
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; and
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 hereinafter, the parties agree as follows:
n
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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 Streets
3. To secure the faithful performance of this Agree-
ment, 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 sum of Eighty -Five
Thousand Dollars ($85,000.00) , said bond, to be approved by
CITY. In lieu of said bond, it is agreed that either or both
of the following may be substituted:
A. Parties hereto will enter into a
"three -party agreement" with a
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California bank acceptable to CITY,
whereby said bank shall hold the
sum of Eighty -Five Thousand and 00/100ths
($ 85,000.00 ) 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 agree-
ment 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
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r
a
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Eighty -Five Thousand Dollars and 00/100ths
($ 85,000.00 )being the
CITY's engineer's estimate of costs
for the construction of
Streets
4. The SUBD VIDER 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 WHEREOF, WESTPORT - APARTMENT HOME CO.
a Limited Partnership, has executed these presents as
the SUBDIVIDER, 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
i
above' written.
WESTPORT - APARTMENT HOME CO.
Im
I;SM
BUILDERS,
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ATTEST -
CITY CLERK AND EX OFFICIO CLERK
OF SAID CITY COUNCIL
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CITY OF SAN JUAN CAPISTRANO
BY: J T�'
Mayor