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Resolution Number 15-02-17-01 RESOLUTION NO. 15-02-17-01 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN CAPISTRANO, CALIFORNIA, DETERMINING COMPLETION OF WORK IN ACCORDANCE WITH APPROVED PLANS AND SPECIFICATIONS FOR THE CONSTRUCTION OF ON-SITE AND OFF-SITE IMPROVEMENTS ASSOCIATED WITH A-1 SELF STORAGE, 33000 VALLE ROAD (CASTER PROPERTIES, INC.). WHEREAS, on January 29, 2013, the City of San Juan Capistrano entered into a Grading Surety Agreement with the developer of the A-1 Self Storage facility located at 33000 Valle Road providing for the construction of certain onsite and off-site improvements; and, WHEREAS, Caster Properties, Inc., the current developer of A-1 Self Storage has requested that the City determine that such certain on-site and off-site improvements are completed and the corresponding remaining surety bonds be released accordingly. The surety release is as follows; SURETY COVERAGE TYPE OF IMPROVEMENT REMAINING SURETEC INSURANCE AMOUNT COMPANY TO BE RELEASED Bond # 0613748 Grading Performance $ 38,293.00 Bond # 4385420 Onsite/Offsite Improvements $ 368,353.80 Bond # 4390272 Grading over Storm Drain $ 52,000.00 Bond # 4390271 Vista Marina Improvements $ 78,323.94 NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of San Juan Capistrano as follows: SECTION 1, That the improvement work required to be performed by said developer has been completed and approved. SECTION 2. That the completed work with a value of $536,970.74 is accepted. SECTION 3. That the sureties described in the chart above may be released accordingly ' ED, APPROVED, AND ADOPTED this 17th day of February 2015. 3f ATTEST: f4. DEREK REEVE, MAYOR MARIAO RI , CITY CLF-W\ STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF SAN JUAN CAPISTRANO ) 1, MARIA MORRIS, appointed City Clerk of the City of San Juan Capistrano, do hereby certify that the foregoing Resolution No. 15-02-17-01 was duly adopted by the City Council of the City of San Juan Capistrano at a Regular meeting thereof, held the 17" day of February 2015, by the following vote: AYES: C NC MEMBERS: Allevato, Ferguson, Perry, Patterson and Mayor Reeve NOE : U IL MEMBER: None ABSEN -_ NCIL MEMBER: None E f g� d MARIAM,M 18, City Clerk 4n