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Resolution Number 86-5-20-7RESOLUTION NO. 86-5-20-7 AMENDMENT TO C.1d A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN CAPISTRANO, CALIFORNIA, AMENDING RESOLUTIONS NOS. 85-12-3-5 AND 85-12-3-6 RELATING TO SOIL SUBSIDENCE INSURANCE - TENTATIVE TRACTS 12262 AND 12423 (GLENDALE FEDERAL/LOMAS SAN JUAN) 121 WHEREAS, the City Council adopted Resolutions Nos. 85-12-3-5 and 85-12-3-6 relating to tentative map approvals for Parcels E and F for the Glendale Federal/Lomas San Juan projects; and, WHEREAS, Condition No. 3 0£ both Resolutions provide for the requirement of soil subsidence insurance to be in place prior to the issuance of grading permits for said projects; and, WHEREAS, the City Council desires to modify said condition by requiring that the soils insurance program be in place within 90 days following the issuance of the grading permits. NOW, THEREFORE, BE IT RESOLVED by the City Council that Condition No. 3 of said Resolutions are hereby amended to read as follows: "3. The Developer shall participate in a program to insure against damage from soil subsidence. Within 90 days from date of issuance of grading permits for the work provided for the subject parcel, the Developer shall enter into a program of soil subsidence insurance established by the City. The insurance elements shall include, but not be limited to named insureds, coverage deductibles, and premiums. In the event that insurance is not available, the Developer shall provide an alternative form of security as required by the City. Once the City has formulated an insurance or other viable security option, the Developer shall have the right to show cause within 10 calendar days to the City Council -1- 22 why any part of the insurance program is not feasible. The Planning Commission and City Council shall review the insurance program prior to its implementation within this project." PASSED, APPROVED AND ADOPTED this 20th day of May , 1986 KENNETH E. FRI SS, MAYOR ATTEST: STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF SAN JUAN CAPISTRANO ) I, MARY ANN HANOVER, 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. 86-5-20-7 , adopted by the City Council of the City of San Juan Capistrano, California, at a regular meeting thereof held on the 20th day of May r 1986 , by the following vote: AYES: Councilmen Schwartze, Bland, Hausdorfer, and Mayor Friess NOES: None ABSENT: Councilman Buchheim g"� (SEAL) MARY c HA VER, CITY CLLR —2—