1973-0803_WESTPORT - APARTMENT HOME CO._Agreement (St Lt) (2)AGREE ENT
THIS AGREEMENT, made and entered into this 3rd day of
August , 1973 , between �destport - Apartrient Iiore 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 es 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 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 hereinaftenn the parties agree as follows:
1. City agrees to accept the Street Lights
offered for dedication by Subdivider.
2. Subdivider will, at the sole cost and expense of Subdivider
construct and install street
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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 sum of Three Thousand , Five Hundred Dollars
($3,500 ), said bond, to be approved by City. In lieu of said bond,
it is agreed that either or both of the following may be substituted:
a. Parties hereto will enter into a "three -party
agreement" with a California bank acceptable to
City, whereby said bank shall hold the sum of
T'rirec-- Thousand,Five HurdY
($ 3,500 ) for construction of
Street Lights
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
Three Tousand, Five Hundred
($ 3,500 ) being the City Engineer's
estimate of costs for the construction of
Street
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, 'r;estt_=t - R..)artr, nt Homs Co..
a Limited Partnership, has executed these presents as the Subdivider,
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a
s STATE OF CALIFORNIA
COUNTY OF_r ange r $s.
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On— AH gUSt 3, 1973 _ before me, the undersigned, a Notary Public in and for
C. E. Rabalais _ _
m said State, personally appear d - -
iV ce Jean McLachlan
.E known to me robe the President, and-------
known
nd___—_.
known to me to be the —_Secretary of
° a
lestport Home Bu Tn _
E — ---- C1�sS,. ♦♦♦♦♦♦♦♦oi♦♦♦o♦0000♦♦♦o♦♦♦♦♦♦♦
t U the corporation that executed the within instrument a -d known
I. me to be the persons who executed the within instrument one JANE FP,WRUP
Ai= behalf of said corporation, said corporation being known to me NOTARY PUU:.`" CALIFORNIA
M A 1Vest Ort - ♦ ir+pG PRINCIPAL Ci'FIaE IN
o .+ to be the general partner of P —_ ♦ ORANGE COUNTY
i
Apartment Home CO. ♦ OFFICIAL SEAL My Co—11m Expires iuCl. 22' 1975 •
pQ the limited partnership that executed the within instrument, and
♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦00♦O♦♦♦♦♦♦♦♦1♦
Y w acknowledged to me that such partner and that such partnership
executed the same.
PWITNES id and ficial seal
o Sign e_ _
Eane Fawr
,°� Name (Typed or Printed) (This area for official notarial seal)
l
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 - Anartnent Home Co.,
a Limited Partnership
BY: WESTPORT HOME BUILDERS, INC.,
General Partner
n
CITY OF SAN JUAN GAPISTFtANO
BY \ , l
ATTEST:
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is