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1996-0402_S.J. HILLS L.P._Asgmt of Improvement AgrmtsRECORDED AT REQUEST OF AND RETURN TO: City of San Juan Capistrano City Clerk's Office 32400 Paseo Adelanto San Juan Capistrano, CA 92675 RECORDING FEES EXEMPT DUE TO GOV NMENT COD CTION�,61103 G fl4i%- Cheryl Johnson, CAty C1QA San Juan Capistrano, CA Recoraea in the county of orange, caiifornia Gary L. Granvi�lllllllll�lllllllllllll�{I Clerk/Recorder I{{IIN«[[IIIIII{{{{Illllll[l[Illlfl[ 3 ; 55 19990437131 pm 06/11/99 005 5147381 05 44 N12 1 6.00 0.00 0.00 0.00 0.00 0.00 NOTICE OF COMPLETION NOTICE IS HEREBY GIVEN that an Improvement Agreement between the City of San Juan Capistrano and San Juan Hills L.P., c/o Pacific Communities Builders, Inc., 1000 Dove Street, Suite 100, Newport Beach, California 92660, Developer of Tract 13865, requires the Developer to complete the following, to wit: Construction of street improvements in conjunction with the development of Tract 13865, in the City of San Juan Capistrano. l� l� That said work was completed by said Developer according to plans and specifications and to the satisfaction of the a City Engineer of the City of San Juan Capistrano, and that said work was accepted by the City Council of the City of San Juan Capistrano, as the owner, 32400 Paseo Adelanto, San Juan Capistrano, California 92675, at a regular meeting thereof held on the 1st day of June, 1999, by Resolution No. q 9 — 6 --/ -/ That upon said agreement, Developers Insurance Company was surety for the bonds for street improvement and monumentation work in the amount of $272,131.00 for Tract 13 865, given by the said company as required by law. Dated at San Juan Capistrano, California, this C)- day of wl)e— _- _ ", 1999. Cheryl Johnson,49ity OYerk City of San Juan Capistrano = " STATE OF CALIFORNIA ) COUNTY OF ORANGE } ss. CITY OF SAN JUAN CAPISTRANO } ' I, CHERYL JOHNSON, the duly appointed and qualified City Clerk of the City Council of the City of San Juan Capistrano, California, DO HEREBY CERTIFY, under penalty of perjury that the foregoing Notice of Completion is true and correct, and that said Notice of Completion was duly and regularly ordered to be recorded in the Office of the Orange County Recorder by said City Clerk. Dated at San Juan Capistrano this �h day of �UA6 '1999. Cheryl Johnso Ci Clerk City of San Juan Capistrano U RECORDING REOUESTED BY: City of San Juan Capistrano Office of the City Clerk Recorded Linthe Granvpi Granville,county foraGary ecordeal ifornla 32400 Paseo Adelanto 1l11ljlll�llllllllllllllllllllllll�llllllll�illlll����������ll San Juan Capistrano, Ca. 92675 19960198181 2.38pm 04/22/96 005 24000474 24 12 21 0 7.00 21.00 0.00 0.00 0.00 0.00 AND WHEN RECORDED RETURN TO: City of San Juan Capistrano Office of the City Clerk 32400 Paseo Adelanto San Juan Capistrano, Ca. 92675 PROJECT: Final Map, Tract 13865 i ASSIGNMENT OF IMPROVEMENT AGREEMENTS The undersigned, Glendale Federal Bank, a California corporation ("Glendale Federal"), hereby assigns to S.J. Hills L.P., a California Limited Partnership, all of its right, title and interest in and to that certain Subdivision Improvement Agreement between Lusk Company, a California Corporation ("Lusk") as "Developer" and the City of San Juan Capistrano, a municipal corporation, as "City", copy of which are attached hereto as Exhibit A and which was recorded on September 12, 1991 as Instrument No. 91-496387, in the Official Records of the County Recorder of Orange County, California, the Developer's interest under which were assigned to Glendale Federal by Lusk by that certain Assignment of Improvement Agreements recorded June 26, 1995 as Instrument No. 95-0270214, in the Official Records of the County Recorder of Orange County, California. GLENDALE FEDERAL BANK, a California corporation By. Name: Richard H. CurtiprJr. Title: Vice President -1- v This Assignment is hereby accepted by S.J. Hills, L.P. and S.J. Hills, L.P. hereby assumes for the benefit of the City, Lusk, and Glendale Federal, all of the obligations of Developer under the Subdivision Improvement Agreement. S.J. Hills L.P., a California Limited Partnership By: Pacific Communities Builder, Inc. ey: Name: Nelson Chung Title: president -2- RECf.1VE9 SEP 30 125 PM'°' CI':'r CLERK asPARTM@NT r:TY GP SAN JUa:1 :ArIS. RANK RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of San Juan Capistrano Office of the City Clerk 32400 Paseo Adelanto San Juan Capistrano, CA 92673 91=496387' U RRO'OFORANGEICOFFICIALUNALIFORM, 4:00 P.M. SEP 12 1991 44�" Q' V&'40*640rder RECORD GOVERN CHERYL FEES E MPT DUE TO T CODE SECTION 6103 PROJECT: Tract 13863 IMPROVEMENT AGREEMENT THIS AGREEMENT, made pursuant to the provisions of Division 2 of Title 7 of the Government Code of the State of California, by and between the City of San Juan Capistrano, a Municipal Corporation, hereinafter called the "CITY" and The Lusk Company, whose mailing address is P.O. Box C-19360, Irvine, California 92713, hereinafter called the "DEVELOPER". WITNESSETH: WHEREAS, the CITY has conditionally approved Tentative Tract 138631 and WHEREAS, DEVELOPER desires to postpone the completion of the public and/or private improvements for three years; and WHEREAS, in consideration of the CITY's approval of the request for postponement, DEVELOPER has agreed to provide such security as may be required by CITY to guarantee that all improvements for Tract 13863 will be installed in a timely manner. NOW, THEREFORE, in consideration of the premises and promises hereinafter contained CITY and DEVELOPER agree as follows: 1. DEVELOPER shall, at Its sole cost and expense, provide and furnish all labor, materials and equipment for the installation of improvements for Tract 13863 shown on the Improvement Plans and Specifications approved by the CITY; all such plans and specifications are on file in the office of the City Engineer and are incorporated herein by reference. "Improvements" include: all off-site grading work; paving of all streets, alleys and public service easements; construction of concrete curbs, gutters, cross gutters and sidewalks; installation of storm drainage and sznisary seweraga facilities; installation of underground conduit and street lighting system; installation of all street signs; the design and construction of a traffic signal at La Novia Avenue and Via Entrada; the supplying and planting of all parkway trees; the installation of all appurtenances; the furnishing of all engineering costs and services to do and complete said work; and to do and complete all other acts and obligations required by the CITY as condition of the approval of the project. The City Engineer shall determine the estimated costs of said improvements to be used for the security required herein. EXHIBIT "A" PROJE' -: Tract 13865 2. DEVELOPER shall design and construct the following off-site improvements and enter into a reimbursement agreement for same: - La Novia Avenue Bridge widening, including rip rap for bridge pier protection and the requisite drop structure; - Traffic signal and minor intersection widening at Valle Road and San Juan Creek Road; Traffic signal at Valle Road and the proposed extension of La Novia Avenue. 3. DEVELOPER shall pay participation fees conjointly with this agreement to help mitigate the increased traffic impact caused by his development as follows: For Traffic Signals: La Novia Avenue and Calle Arroyo $ 149400 La Novia Avenue and San Juan Creek Road 10,800 For Street Improvements: Valle Road, San Juan Creek Road to I-5 Ramps $ 31,280 San Juan Creek Road, Valle Rd to La Novia Ave 293,640 San Juan Creek Road, Valle Rd to Camino Capistrano 24,700 Ortega Highway, Rancho Viejo Rd to I-5 116,280 TOTAL $491,060 4. It is anticipated that Tract 13865 will be phase 1 of the four tracts being developed by developer in this area. Should developer wish to change his phasing, items 2, 3, and 4 which pertain to off site improvements and participation fees shall be made a part of the Improvement Agreement for whichever tract becomes phase 1. 5. DEVELOPER shall, at its sole cost and expense, provide and install all on- site water mains and appurtenances and shall provide all labor and materials to connect the same to existing mains and facilities of the Capistrano Valley Water District, in accordance with all of the requirements of said District. 6. DEVELOPER agrees to pay all applicable fees imposed by CITY's ordinance and resolutions as conditions of approval of Tract 13865 and the improvements therefor. 7. DEVELOPER shall provide the following surety, all of which shall meet the requirements of Chapter 5, Division 2, Title 7 of the Government Code: (a) a faithful performance surety in an amount equal to the total estimated cost of work for improvements not to be dedicated to the CITY but inspected by CITY personnel; (b) a faithful performance surety equal to the total estimated cost of work and improvements to be dedicated to the CITY; (c) a labor and materials surety equal to the total estimated cost of work and improvements to be dedicated to the CITY securing payment to the contractor, any sub -contractors and persons providing equipment, labor and/or materials for and/or account of such improvements. ,z PROJE " Tract 13865 v The surety bonds shall provide that CITY, as beneficiary, shall be entitled to attorney's fees in the event that CITY is required to bring legal action to enforce the terms of the surety. S. The City Engineer of the City of San Juan Capistrano may make such changes, alterations or additions to the plans and specifications for said work and improvements which do not exceed ten percent (10%) of the total estimated cost set forth in paragraph 4 above, as may be determined necessary and desirable by him for the proper completion of said work and improvement or as required for the safety and welfare of the public and no such changes, alterations or additions shall relieve the DEVELOPER from the faithful performance of this agreement. 9. DEVELOPER agrees to complete all of said work and improvement and to pay all costs specified herein within a period of three years from the date of this agreement. If additional time is needed, an extension may be granted by the City Engineer on the showing of good cause. Any such extension shall, however, be subject to all of the terms and conditions of this agreement, and any surety or other security shall continue in full force and effect until the work and improvement has been accepted by the CITY. 10. DEVELOPER agrees that CITY may, without any notice, and at its sole option, at any time after the time for completion has passed, complete, or cause to be completed, all or any part of the said work, and DEVELOPER shall pay to said CITY, upon demand, all of the cost of any of said work done by the CITY, its agents and contractors, or any of them, to complete all or any part of said work. 11. DEVELOPER agrees to pay CITY such sum as the Court may adjudge as reasonable for the legal services of any attorney representing the CITY in any action brought to enforce or interpret the obligations of this instrument, and such sum shall be made a part of any judgment in such action against the DEVELOPER if such action is determined in favor of the said CITY. 12. CITY, its officers and employees, except for their own acts shall not be liable or responsible for any accident, loss or damage happening or occurring to the improvements specified in this agreement prior to the completion and acceptance of said improvements by the CITY. 13. DEVELOPER shall perform all work in a safe workmanlike manner and shall take such precautions as may be necessary to warn and protect the public from any dangerous condition caused by the construction of said improvements. 14. DEVELOPER shall hold CITY, its officers and employees harmless from any and all claims, demands, causes of action, liability or loss of any sort because of, or arising out of, the acts or omissions of the DEVELOPER, his contractor, sub -contractors, agents or employees in the performance of this agreement. DEVELOPER shall maintain liability insurance in the amount of $1,000,000 combined single limit at all times during the life of this agreement, naming the CITY as a co-insured. 15. CITY agrees, in consideration of the promises herein made by DEVELOPER, to permit the DEVELOPER to postpone the completion of improvements for three years until July 16, 1994. 1 U PROJE.— Tract 13865 IN WITNESS WHEREOF, the parties have executed this agreement as of July 16, 1991. ATTEST: (19, Cheryl John n, d1ty Clerk APPROVED AS TO FORM: 14 1 t�2 Prom Clark , CITY ATT O Y CITY OF SAN JUAN CAPISTRANO R eth Friess, MAYO THE- LUSK COMPANY A CALIFORNIA CORPORATION OWNER BY �Gl//12._ / VIC.E PRE DENT BY ,� Q SECRETARY APPROVED LEGAL DEPT. I> CALIFORNIA AIILIL-PURPOSEACKNOWILIEDGMENT ~ Na. 5907 State of tgltl 11(� County of 0n before me, DAE n .I II pp NIIAME, TTLE OF OFFICER _E. G.,"JANE DOE ,NOTAFFPUBLIC- personally appeared doh/114fIti ` Cll4j5h �4)_ , NAME(S) OF SIGNER(S) l3 personally known to me - OR - ❑ proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and ac- knowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the BEVERLY SEGER v person(s) acted, executed the instrument. rc CGmm. N 98`u165 '$ -C NOIALIPU'uLICWFOdh>\ m�` As�m: C. A a,te" WITNESS my hand and official seal. SI NATURE OFINOTARY OPTIONAL Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER ❑ INDIVIDUAL ❑ CORPORATE OFFJ,CER l)tCe Y,kCS , nnE)s) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL ❑ ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR ❑ OTHER: SIGNER IS REPRESENTING: NAME OF PERSONS) OR ENTmQIES) DESCRIPTION OF ATTACHED DOCUMENT I. TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES DATE OF DOCUMENT SIGNER(S) OTHER THAN NAMED ABOVE 01993 NATIONAL NOTARY ASSOCIATION -8236 BARI Ave., P.O. Box 7184 -Canoga Park, CA 91309-7184 ACORD GERTIFICA QF LIABILITY INSUF NCB %'---€ MTE,MMmD YI " ,,,vy ` 11/24/1999 PRODUCER (909)860-0599 FAX (979)860-4119 . THIS CERTIFICATE IS ISSUED ASA MATTER OF INFORMATION astern Insurance Marketing ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AMEND, EXTEND OR P 0 Box 4760 ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. License # 0548614 COMPANIES AFFORDING COVERAGE Diamond Bar, CA 91765-0760 y..COMPANY................... ran ............................... Stead fast Insuce Co Attn: Debbie Abundis Ext: A ...................................................................... .............................. IxeurtED Pacific Communities Builder, Inc. ` COMPANY B S.I. Hills, A CA Limited Partnership .................................................................................................................................................... 1000 Dove Street #100 CmJCANY Newport Beach, CA 92660 es 11..11............ ......... 1111... ........1111 d ........... .............. COMPANY C 41 D neon O 9 z—^ THIS IS CERTIFY THE POLICIES BELOW HAVE BEEN ISSUED TO THE INSURED NAMEOABOVI FO OLId�'PERI� TE MOR REQUIREMENT, INDICATED, NOTWITHSTANDING ANY REpUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RfiS CDfTOWNIICHT;9 CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT''Q5.Lt HE TERMS, p EXCLUSIONS AND CONDITIONS OF SUCH POLICIES LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLMiS. .1 .......111 ......... .......... ... ........... _:.............. nztiz 1111 ... 111..... .... ... ...... ............... TYPEOFINSURNICE POUCY NUMBER ICY EFFECTIVE. POLICY J UMR%Z LTR ppLTEIMMmNYTI DATE IMMmI WYVIN: XX '.. GENERAL LWBNtt : GENERALAGOREGATE :5 2,000:000 ;.. .........,.. _. 10 .., X:COMMERCIAL GENERAL LMBIIM i iPRCClICTB-COAIP/OP AGG 1 2:000,000 .... ... m .....IN _ 1111 '.CWMS MAGE iX;OLCUR' iPEflSIXIALBADVINJURY 5 lOOO OOO A :-- •- SCO294519501 08/24/1999 08/24/2000 ---- -- - R' OWNER'S B WNIRACfORSMOT. : EACH OCCURRENCE ;5 1,000,000 FlRE DAMAGE1Anyon fi ) 1 50,000. ......... MED EXP (M'-. P.w.) S Excluded ''. AUTOMMU! LIABILITY 1111..: NGL LIMIT COMBNEDm E f _.._.ANY AUTO ............................................................. .............. ••••• WM I i ALL OWNED i i ''•...... ' i BOmLY INJURY SCHEDULED AUTOS ;(Per Pawn) :S .......... ......... .......... WIRED MRCS 1111 ;! EDGILY INJURY S NONOWNED AMOS L..._1 ............................._..............,...... PROPERTY DAMAGE is GARAGE LIABILITY :AUTO ONLY -EA ACCIDENT :f 1111.. ' :ARTY AVID .. ..a .... :OIHERMAN AUTOONLY '`�"••'��''� 1 i....................................... i i AC EACH ALCICENfif i ....... .. 1,,,111 AGGREGATE f IEXCESS LIABNTY BEACH OCCURRENCE �f UMBRELLAPORM :AGGREGATE........... i ......... ... a 1111. OTHER THAN UMBRELLA FORM : f WORKERS COMPENSATION ANDi_ , TORYIJMITS :1111 ER '., EMPLOYERS LIABILITY EL EACH ACCIDENT is THE PROPRIETONiRDISEASE POLICY LIMIT f PAHMEREIFXELITT E :.. 1111.. ... ... 1111... ''. OFFICERS ARE:'E%CL[ 'EL DISEASE -FA EMPLOYEEif OTHER DESCRIPTION OF OPERATIONLLOCATIONSMEHICLEWSPEOIAL ITEMS ��.ry„`R'ei§iJ1>\ :ii. A, fe: ..4r/eo. ;.:.i .. 1111 SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, THE ISSUING COMPANY WILL ENDEAVOR TO MAIL 10 DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, City of San Juan Capistrano BUT FAILURE TO MMLSUCHNOTICE SHALL IMPOSE NO OBUOATION OR LIABILITY 32400 Paseo Adelanto OF MY KIND UPON THE CO Y, ITS AGENTS OR REPRESENTATNES, AUTKORM REMEMNTA17 San Juan Capistrano, CA 92675 Debbie Abundis • FRANK A. WOOLSEY JR 4 612 JACQUELYN I WOOLSEY q/ T9 / 6 16-6(irr M 690 PAk T9 THE /n _ ORDER OF L L A R S e.. Bank of America Ctls!Qq ince Fountain Valley Branch #0690 97430 Brookl)urst Stree! Foontaan Valley, CA 92709 (714) 973.8496 MEMO? C 221 (A��e yz'a;��2,a 11.11 DA" PONT OFFICE 72'337 GO-LDEN LAN -ERN STPEET LA43UNA NIGGEL. CA 92677 Ark e JOHN S. VIGIANO F ^ 1 nnuo use iS April 5, 1996 Mr. Nelson Chung S.J. Hills c/o Pacific Communities Builders 1036 South Serrano Avenue Anaheim, California 92808 MEMBERS OF THE CITY COUNCIL COLLENE CAMPBELL WYATT HART GILJONES CAROLYN NASH DAVID SWERDLIN CITY MANAGER GEORGESCARSOROUGH Completion of -l- 1 Iml2rovements. Release of Bonds._1• Assignment of Improvements Dear Mr. Chung: At their meeting of April 2, 1996, the City Council of the City of San Juan Capistrano adopted Resolution No. 964-2-2, accepting the storm drain and sewer improvements as complete and releasing the corresponding bonds; approving the Assignment of Improvement Agreements from Glendale Federal Bank to S.J. Hills L.P. for Tract 13865; and, authorizing and approving the reduction and substitution of bonds for the public and private streets within Tract 13865. The Notice of Completion and the Assignment Agreement have been forwarded to the Orange County Recorder's Office. A copy of Resolution No. 96-4-2-2 is enclosed for your information. Please feel free to contact Sam Shoucair at 443-6355 if you have any questions. Very truly yours, Cheryl Johnson City Clerk Enclosure cc: Brian Johnson Engineering and Building Director Sam Shoucair 32400 PASEO ADELANTO, SAN JUAN CAPISTRANO. CALIFORNIA 92675 0 (714) 493-1171 4$T AME RIC -9 } STATE OF CALIFORNIA{� }ss. COUNTY OF p) 44 to } On MQ r C k ) "7I "7 , 1994 , before me, personally appeared / personally known to me (or greyed to-meitt the-besi ) to be the person(V whose nameA is/ay4 subscribed to the within instrument and acknowledged to me that he/sp6/thdy executed the same in his/hl i/tb& authorized capacity(ie/, and that by his/hl&(r/tWir signature(K on the instrument the personO or the entity upon behalf of which the person acted, executed the instrument. WITNESS my hand and official seal. Signature Z' -t 1100— - ^ ---- WIPIE 1-MM �MM.�! 1000740 s OAAl19EL0111W11� N M/00iia1�� (This area for official nolarial seal) Title of Document lU_ta� llru at a J!pQ�(2 erg f'f't,ZYA Date of Document No. of 11P��age/s� o Other signatures not acknowledged ; C t 0/ rd 44 . l G Ir S r 3008 (154) (General) First American Tile Insurance Company AGENDA ITEM April 2, 1996 TO: George Scarborough, City Manager FROM: William M. Huber, Director of Engineering & Building SUBJECT: Resolution, Approval of Assignment of Improvement Agreement, Release, Reduction and Substitution of Bonds, Notice of Completion, Tract 13865, Glendale Federal Bank (Glenfed) and S.J. Hills (SJH). RECOMMENDATION 1. Approve the Resolution to Assign the Improvement Agreement from Glenfed to SJH for tract 13865 and authorize the Mayor to execute the Assignment Agreement. 2. Authorize the reduction of the $586,500 public street improvement bond to $146,625. 3. Authorize the reduction of the $418,024 private street improvement bond to $104,506. 4. Approve the substitution of the Glenfed bonds with applicable sureties from SJH. 5. Accept the storm drain and sewer improvements within Tract 13865 and authorize the release of corresponding bonds from Glenfed. 6. Authorize the City Clerk to file a Notice of Completion for the storm drain and sewer improvements within tract 13865 with the Orange County Recorder. In 1993, Glenfed, the original land financier/developer of tract 13865 Glenfed Area C1, took back the land from the Lusk Company. On June 6, 1995, the City Council approved the transfer of Assignment Agreement and Bond Substitution from Lusk to Glenfed. The improvement work for this tract was to be the obligation of Glenfed until SJH (known as Pacific Communities, Builders) completed the ownership transaction and executed a new Assignment Agreement. Glenfed is now requesting the release/reduction of their bonds based on the completion /partial completion of the improvement work and the substitution of all the required bonds with new ones from SJH. Glenfed sold the subject property to the Lusk Company in 1989. Lusk proceeded to record the final map, execute the Improvement Agreement with the City in July of 1991 (see Exhibit A) and post bonds to ensure the completion of the public improvements. Glenfed was Lusk's lender for the acquisition of the property and for development and improvement costs. FOR CITY COUNCIL AGED► q.. f AGENDA ITEM April 2, 1996 Page 2 Through a Deed in Lieu of Foreclosure, Glenfed re -acquired ownership in May of 1993. A condition of said Deed in Lieu was that Glenfed replace all bonds. In July, 1994, Glenfed sold Parcels C 1 to SJH, also known as Pacific Communities Builders, Inc. A condition of this transaction was that Pacific replace all subdivision bonds, however, they were not required to do so until December 31, 1995. With Lusk's insistence that their bonds be replaced, replacement bonds in the name of Glenfed were submitted to the City and approved for acceptance by the City Council at their meeting of June 6, 1995. At this time, Glenfed is requesting that their bonds be released and that replacement bonds for all unfinished work be substituted with SJH's bonds along with a new Assignment Agreement. It should be noted that during the ownership transaction, SJH successfully completed the storm drain and sewer improvements to the satisfaction of the City Engineer and has nearly completed the public and private street improvements. The amounts and types of bonds posted by SJH to replace the applicable Glenfed bonds currently held by the City are described in Exhibit "B". It is therefore, Staffs recommendation to approve the request for approval of assignment, bond release, reduction and substitution, and the notice of completion. To ascertain a proper quality of material used, and guarantee the workmanship performed on every improvement work associated with this tract, a one year warranty bond for 25% of original bond amount will be collected by the City upon acceptance of each completed improvement. The warranty bonds shall only be released by the City Engineer after his final inspection of the corresponding improvement at the end of the one year warranty period. COMMISSION/BOARD REVIEW, RECOMMENDATIONS NIA FINANCIAL CONSIDERATIONS None NOTIFICATION Glendale Federal Bank S.J. Hills, A California Limited Partnership N AGENDAITEM April 2, 1996 Page 3 Accept the Resolution approving the Assignment of Agreement and applicable bond substitution, and accept the storm drain and sewer improvements. Do not accept the Resolution. Refer to Staff for additional information. RECOMMENDATION 1. Approve the Resolution to Assign the Improvement Agreement from Glenfed to SIH for Tract 13865 and authorize the Mayor to execute the Assignment Agreement. 2. Authorize the reduction of the $586,500 public street improvement bond to $146,625. 3. Authorize the reduction of the $418,024 private street improvement bond to $104,506. 4. Approve the substitution of the Glenfed bonds with applicable sureties from SJH. 5. Accept the storm drain and sewer improvements within Tract 13865 and authorize the release of corresponding bonds from Glenfed. 6. Authorize the City Clerk to file a Notice of Completion for the storm drain and sewer improvements within tract 13865 with the Orange County Recorder. Respectfully submitted, A. William M. Huber, P.E. WM1VSS:ssg attachments: 1. Resolution for the tract 2. Assignment of the Improvement Agreement 3. Copies of the Lusk Improvement Agreement (Exhibit A) 4. Development Bond List (Exhibit B) 5. Notice of Completion 6. Location Map (Exhibit C) a:\agendas\4-2g1nf.eam &ff2 --So RESOLUTION NO. 96-4-2-2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN CAPISTRANO, CALIFORNIA, ACCEPTING CERTAIN IMPROVEMENTS; APPROVING THE ASSIGNMENT OF IMPROVEMENTS AGREEMENT AND THE SURETY SUBSTITUTION TO TRANSFER ALL OBLIGATIONS, DUTIES AND RIGHTS FROM THE GLENDALE FEDERAL BANK TO SAN JUAN HILLS, L.P., A CALIFORNIA LMTED PARTNERSHIP WHEREAS, on the 16th day of July, 1991, the City of San Juan Capistrano entered into Improvement Agreements with the Lusk Company for the construction of certain public and private improvements servicing Tract 13865; and, WHEREAS, at their meeting of June 5, 1995, the City Council approved the transfer of Assignment Agreement and Bond Substitution from Lusk Company to Glendale Federal Bank; and, WHEREAS, Glendale Federal Bank has completed ownership transaction of Tract 13865 to San Juan Hills, Ltd., and has requested to assign the subject improvements to San Juan Hills, L.P,; and, WHEREAS, during said transaction period, San Juan Hills, L.P., has completed the storm drain and sewer improvements and has completed approximately 85% of the public and private street improvement work in accordance with the plans and specifications and to the satisfaction of the City Engineer; and, WHEREAS, the City Engineer recommends: (1) the release of the following Glendale Federal Bank sureties: (a) $658,156 - Storm Drain Improvements, Bond No. 3SM 806 22100 (b) $211,150 - Sewer Improvements, Bond No. 3SM 806 225 00; and, (2) a 75% reduction of the Glendale Federal Bank sureties and a substitution with sureties from San Juan Hills, L.P., as follows: (a) Glendale Federal Bank surety in the amount of $586,500 for public street improvements, Bond No. 3SM 806 220 00, reduced to and substituted with San Juan Hills, L.P., Bond No. 415 854 S in the amount of $146,620; and (b) Glendale Federal Bank surety in the amount of $418,024, Bond No. 3 SM 806 222 00, for private street improvements, reduced to and substituted with San Juan Hills, L.P. Bond No. 415 804 S, in the amount of $104,506; and, v WHEREAS, San Juan Hills, L.P., has posted sufficient sureties with the City of San Juan Capistrano for all the remaining unfinished improvement and monumentation work; and, WHEREAS, the City of San Juan Capistrano has no objection to said assignments and the substitution of sureties. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of San Juan Capistrano as follows: The storm drain and sewer improvement work required to be performed by Glendale Federal Bank and San Juan Hill, L.P., for Tract 13865 has been completed. Said improvements are hereby accepted and the corresponding sureties may be fully released. SECTION 3. The City Clerk is directed to forthwith forward a "Notice of Completion" to the County Recorder of the County of Orange. The public and private street improvement work is near completion and the corresponding sureties may be reduced accordingly. The transfer and substitution of sureties and Assignment of Improvements Agreement from Glendale Federal Bank to San Juan Hills, L.P., is approved. PASSED, APPROVED, AND ADOPTED this 2nd day of April , 1996. ATTEST: 0 -,AZ. ,/J2�eQ, CITY CLE IJ rJ /a,14 WYAT T, MAYOR -2- STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss CITY OF SAN JUAN CAPISTRANO ) I, CHERYL JOHNSON, City Clerk of the City of San Juan Capistrano, California, DO HEREBY CERTIFY that the foregoing is a true and correct copy of Resolution No. 96-4-2-2 adopted by the City Council of the City of San Juan Capistrano, California, at a regular meeting thereof held on the 2nd day of April , 1996, by the following vote: AYES: Council Members Jones, Nash, Swerdlin, Campbell and Mayor Hart NOES: None ABSTAIN: None ABSENT: None (SEAL) CHERYL JOq4,1TY CLERK -3- . J� i fer G ' 0 VICINITY MAP N.T.S. 45 A) TRACT 13865 r"m EXHIBIT " C " 1036 S. SERRANO AVE. ANAHEIM. CA 92808 TEL:714•281.8600 FAX:714•281.6690 � PACIFIC March 8, 1996 Mr. William Huber Director of Building and Engineering City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, CA 92675 Re: San Juan Replacement Bonds - Tract 13865, Area C-1 Dear Bill: Enclosed please find copies of replacement bonds for the above-mentioned area. The bonds being replaced are as follows: Glendale Descrilition Federal Bonds San Juan Creek Signal 3SM80621600 Valle Rd. Signal 3SM80621700 Public Streets, Via Entrada 3SM80622000 Private Streets Monuments 3SM80622200 3SM80622400 New S.J. Bills Bonds 415806S 4158075 415854S 4158045 4158055 Amoun $200,800.00 $108,000.00 $146,625.00 $104,506.00 $21,000.00 We would like to replace these bonds as soon as possible. Your assistance in this matter will be greatly appreciated. Should you have any questions, please contact me at 714/281-8600. Sincerely, Albert Shen Vice President AS/ws attch. cc: S. Shoucair, City of San Juan Capistrano J. Simon, Sheppard, Mullins, Richter & Hampton M. Barror, Glendale Federal Corporation albeiticorporatelbondslsmjuan\sanj7 U Averbeck Company Insurance Brokers March 6, 1996 Albert, enclosed are three duplicate originals of the below referenced riders. Please file these with the obligee to be attached to the original bon February 22, 1996 11' Mr. Albert Shen Pacific Communities Builder, Inc. 1036 South Serrano Avenue Anaheim, CA 92807 RE: S.JHills, A California Limited Partnership Policy Number: 4158075 Policy Period: February 14, 1996 to February 14, 1998 Dear Mr. Shen: Enclosed please find three original riders in reference to the above referenced bond. The riders are amending the street name of Balley to Valle. Please forward these original riders to the appropriate person at the City of San Juan Capistrano. We apologize for any inconvenience this may cause you. Please contact our office with any questions. Sincerely, Averbeck Company Kelly A. Saitman Bond Account Representative Enclosures Insurance and Risk Management 3270 Inland Empire Blvd.. Suite 100 �8�1 Ontario. California 91764 Tel:909.941-6699 Fax: 909-483-5123