Resolution Number 93-9-7-4RESOLUTION NO. 93-9-7-4
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
JUAN CAPISTRANO, CALIFORNIA, APPROVING THE
ASSIGNMENT OF SUBDIVISION IMPROVEMENT AND THE SURETY
SUBSTITUTION TO TRANSFER ALL OBLIGATIONS, DUTIES AND
RIGHTS FROM DIVIDEND DEVELOPMENT CORPORATION TO
WARMINGTON SAN JUAN ASSOCIATES
WHEREAS, on the 7th day of July, 1987, the City of San Juan Capistrano
entered into a Subdivision Improvement Agreement with Dividend Development
Corporation for the construction of certain public and private improvements servicing
Tract 13027; and,
WHEREAS, Paragraph 17 of said Agreement states that the Agreement may
not be assigned to a third party without approval of the City of San Juan Capistrano; and,
WHEREAS, Dividend Development Corporation has requested the right to
assign the subject Subdivision Improvement Agreement to Warmington San Juan
Associates; and,
WHEREAS, Warmington San Juan Associates has posted sufficient sureties
with the City of San Juan Capistrano for the remaining private street improvements 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, that the City Council of the City of
San Juan Capistrano hereby approves the transfer of assignment and sureties substitution
of said Subdivision Improvement Agreement from Dividend Development Corporation to
Warmington San Juan Associates.
PASSED, APPROVED, AND ADOPTED this
of September , 1993.
ATTEST:
7th
day
.I/.. 'li 1�
se
11.161
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. 93-9-7-4 adopted by the City Council of the City of San Juan
Capistrano, California, at a regular meeting thereof held on the 7th day
of September , 1993, by the following vote:
AYES: Council Members Nash, Hausdorfer, Campbell, Vasquez and
Mayor Jones
NOES: None
ABSTAIN: None
ABSENT: None
CHERYL JOHNSON,
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