HomeMy WebLinkAboutReso 1976-8299Form No. 3S2
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Rev. 11-67
RESOLUTION NO. 8299
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA
APPROVING AGREEMENT FOR THE COMPLETION OF IMPROVEMENTS IN
SOUTH BAY VILLAS SUBDIVISION
AND AUTHORIZING THE MAYOR TO EXECUTE SAME
The City Council of the City of Chula Vista does hereby
resolve as follows:
NOW, THEREFORE, BE IT RESOLVED that that certain agreement
between the CITY OF CHULA VISTA, a municipal corporation, and Sub-
divider, CLARENCE E. MINDIERLY, dba SOUTH BAY VILLAS
dated the~_day of~ptembPr 1976 for the completion
of improvements in that certain subdivision known as SOUTH BAY VILLAS,
a copy of which is attached hereto and by reference made a part here-
of, the same as though fully set forth herein be, and the same is
hereby approved.
BE IT FURTHER RESOLVED that the Mayor of the City of Chula
Vista be, and he is hereby authorized and directed to execute said
agreement for and on behalf of the City of Chula Vista.
Pr/esented b~ ~ Approved as to//far`~~
~,-.^.,~~ / ! ~-- ~' ":,- -:mac%-~ /'~-`~,~r.~ ~ ~ c'r
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Ge cue D. Lindberg, City orney George D. Lindberg, City Attorney
ADOPTED AND APPROVED by the-CITY COUNCIL of the CITY OF CHULA
VISTA, CALIFORNIA,. this 24th day of August 19 76, by the
following vote, to-wit:
AYES: Councilmen Egdahl, Hobel, Hyde, Cox, Hamilton
NAYES: Councilmen None
ABSENT: Councilmen None
i ~ Mayor of the City of Ch la Vista
ATTEST ~~~~.~~i~.~ ~//; ~ 7.. !/.~ n~ ..
t/ v
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
CITY OF CHULA VISTA )
I, ~ City Clerk of the City of Chula
Vista, California, DO HEREBY CERTIFY that the above is a full, true and
correct copy of Resolution No. and that the same has not been
amended or repealed. DATED _
City Clerk
Form No. CA-410
Rev. 8/76
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this 17th. day of
September , 1976 , by and between THE CITY OF CHULA VISTA, a
municipal corporation, hereina ter called-"City", and CLARENCE E. MINNERLY,
dba SOUTH BAY VILLAS, 6151 Century Blvd., Suite 1104, Los Angeles, Cali-
fornia 90045, an individual
hereinafter called "Subdivider";
W I T N E 5 S E T H
WHEREAS., Subdivider is about to present to the City Council of
the City of Chula. Vista for approval and recordation, a final subdivision
map of a proposed subdivision, to be known as
SOiJTH BAY VILLAS pursuant to the provisions of
the Subdivision Map Act of the State of California, and in compliance with
the provisions of Title 18 of the Chula Vista Municipal Code relating to
the filing, approval and recordation of subdivision maps, and
WHEREAS, the Code provides that before said map is finally
approved~by the Council of the City of Chula Vista, Subdivider must
have either installed and completed all of the public. improvements
and/or land development work required by the Code to be installed in
subdivisions before final maps. of subdivisions are. approved by the
Council for purpose of recording in the Office of the County Recorder
of San Diego County, or, as an alternative thereof, Subdivider shall
enter into an agreement with City, secured by an approved improvement
security to insure the performance of said work pursuant to the require-
ments of Title 18 of the Chula Vista Municipal Code, agreeing to install
and complete, free of liens at Subdivider's own expense, all of the
public improvements and/or land-development work required in said sub-
division within a definite period of-time prescribed by said Council,
and
WHEREAS, Subdivider is willing, in consideration of the
approval and recordation of said map by the Council, to enter into this
agreement wherein it is provided that Subdivider will install and com-
plete, at Subdivider's own expense, all the public improvement work
required by City in connection with the proposed subdivision and will
deliver to City improvement securities as approved by the City Attorney,
and
WHEREAS, a tentative map. of said subdivision has heretofore
been approved, subject to certain requirements and conditions, as con-
tained in Resolution No. 7523 , approved on the 12th day of November
19 74 , and
WHEREAS, complete plans and specifications for the. construction,
installation and completion of said public improvement work have been
prepared, submitted to and approved by the Director of Public Works,
as shown on Drawings No. 76-32D thru 76-40D, Inc. , on file in the Office
of the Director of Public Works, and
WHEREAS, an estimate of the cost of constructing said public
improvements according to said plans and specifications has been sub-
mitted and approved by the City, in the amount of FOUR HUNDRED TWENTY-
FIVE THOUSAND DOLLARS AND NO/CENTS ($425,000.00)
NOW, THEREFORE, IT IS MUTUALLY UNDERSTOOD AND AGREED. AS FOLLOWS:
1. Subdivider agrees to comply with all of the requirements
of the tentative map resolution; to do and perform or cause to be done
and performed, at its own expense, without cost to City, in a good and
workmanlike manner, under the direction and to the satisfaction and
-i-
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approval of the Di_rectcr of Public Works, all of the public improvement
ands or land development ~Tork required to be done in and adjcining said
subdivisi_oxx; and will furnish the necessary materials therefor, all in
strict conformity and in accordance with the plans and specifications,
which documents have heretofore been filed in the Office of the Director
of Public Works and by this reference are incorporated herein and made
a part hereof.
2< Tt is expressly understood and agreed that all monuments
have been or will be installed within thirty (30) days after the com-
pletion. and acceptance of the required improvements, and that Subdivider
has installed or will install temporary street name signs if permanent
street name signs lave not been installed<
~. It is expressly understood and agreed that Subdivider will
cause all necessary materials to be furnished and all improvements re-
quired under the provisions of this contract to be done on or before
the first anniversary date of the recordation of the map of said sub-
division.
4. It is expressly understood and agreed that Subdivider will
perform said improvement work as set forth hereinabove or that portion
of said improvement caork serving any buildings or structures ready for
occupancy in said subdivision prior to the issuance of any certificate
of clearance for utility connections for said bui.ldi.ngs or structures
in said subdivision, and such certificate shall not be issued until the
Director of Public Works has certified ire writing the completion of said
public improvements or the portion thereof serving said buildings or
structures approved by the City; provided, however, that the improvement
security shall not be required to cover the provisions of this paragraph.
5. It is expressly understood and agreed to by Subdivider
that, in the performance of said work, Subdivider will conform to and
abide by all of the provisions of the ordinances of the City of Chula
Vista, and the laws of the State of California applicable to said work.
6, Subdivider further agrees to furnish and deliver to the
City of Chula Vista, simultaneously with the execution of this agreement,
an approved improvement security i_n the sum of FOUR HUNDRED TWENTY-FIVE
THOUSAND DOLLARS AND NO/CENTS ($425,000.00)
which security shal7_ guarantee the faithful performance of this contract
by Subdivider and is attached hereto, marked "Exhibit B" and made a part
hereof <
,7< Subdivider further agrees to furnish and deliver to the
City of Chula Vista, simultaneously with the execution of this agreement,
an approved improvement security in the sum of TWO HUNDRED TWELVE THOUSAND
FIVE HUNDRED DOLLARS AND NO/CENTS ($212,500.00)
to secure. the payment of material and labor in connection with the instal-
lation of said public improvements, which security is attached hereto,
marked "Exhibit C" and made a part hereofo
8. Subdivider further agrees to furnish and deliver to the
City of Chula Vista, simultaneously with the execution of this agreement,
an approved improvement security in the sum of SIX THOUSAND FIVE HUNDRED
DOLLARS AND NO/CENTS (6,500.00)
to secure the installation of monuments, which security is attached
hereto, marked "Exhibit D" and made a part hereof.,
9< Tt is further agreed that if the public improvements are
not completed within the time agreed herein, the sums provided by said
improvement securities may be used by Gity for the completion of the
public improvements witr~in said subdivision in accordance with the
specifications contained herei_no Upon certification of completion by
the Director of Public Wor}cs and acceptance of said work by City, and
after certification by the :Di.rertor of Finance that all costs hereof
are fully paid, the whole amount, or any part trzereof not required for
payment thereof, may be released. to Subdivider or its suo•cessors in
interest, purs~xant ~to the terms of the a mprovement security.
2 ~,
10. It is also expressly agreed and understood by the parties
hereto that in no case. will the City of Chula Vista, or any department,
board or officer thereof, be liable for any. portion of the costs and
expenses of the work aforesaid, nor shall any officer, his sureties or
bondsmen, be liable for the payment of any sum or sums for said work or
any materials furnished therefor, except to the limits established by
the approved improvement security in accordance with the requirements
of the State Subdivision Map Act and the provisions of Title 18 of
the Chula Vista City Code.
11. It is further understood and agreed by Subdivider that
any engineering costs (including plan checking, inspection, materials
furnished and other incidental expenses) incurred by City in connection
with the approval of the improvement plans and installation of public
improvements hereinabove provided for, and the cost of street signs and
street trees as required by City and approved by the Director of Public
Works shall be paid by Subdivider, and that Subdivider shall have de-
posited with City a sum of money sufficient to cover said cost.
12. It is understood and agreed that until such time as all
improvements are fully completed and accepted by City, Subdivider will
be responsible for the care, maintenance of, and any damage to, the
streets, alleys, easements, water and sewer lines within the proposed
subdivision. It is further understood and agreed that Subdivider shall
guarantee all public improvements for a period of one year from date of
final acceptance and correct any and all defects or deficiencies arising
during said period as a result of the acts or omissions of Subdivider,
its agents or employees in the performance of this agreement, and that
upon acceptance of the work by City, Subdivider shall grant to City, by
appropriate conveyance, the improvements constructed pursuant to this
agreement; provided, however, that said acceptance shall not constitute
a waiver of defects by City as set forth hereinabove.
13. It is understood and agreed that City, or any officer or
employee thereof, shall not be liable for any injury to person or property
occasioned by reason of the acts or omissions of Subdivider, its agents
or employees, in the performance of this agreement. Subdivider further
agrees to protect and hold harmless City, its officers and employees,
from any and all claims, demands, causes of action, liability or loss
of any sort, because of or arising out of acts or omissions of Subdivider,
its agents or employees, in the performance of this agreement; provided,
however, that the approved improvement security shall not be required
to cover the provisions of this paragraph. Said indemnification and
agreement to hold harmless shall extend to damages or taking of property
resulting from the construction of said subdivision and the public
improvements as provided herein, to adjacent property owners as a con-
sequence of the diversion of waters in the construction and maintenance
of drainage systems and shall not constitute the assumption by City of
any responsibility for such damage or taking, nor shall City, by said
approval, be an insurer or surety for the construction of the subdivision
pursuant to said approved improvement plans.
14. In the event that suit is brought upon this contract by
City to enforce the terms hereof, City shall be entitled to a reasonable
sum as attorney's fees.
IN WITNESS WHEREOF, the parties hereto have caused this agree-
ment to be executed the day and year first hereinabove set forth.
THE CITY OF CHU~^LA VISTA,, SUBDIVI 'R: SOUTH BAY,~IILLAS
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Mayor o~the City of Chula Vista Clarence E. Minnerly
ATTEST
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Approved as to form by Attach Notary Acknowledgment here.
City Attorney
® 3 ~' Fo/z h~e~~,~l? y <~~ ~,~
J U~zn,~ Ove/~
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LIST OF EXHIBITS
Exhibit "A" Estimate of Cost of Monuments
Exhibit "B" Improvement Security - Faithful Performance:
Form• Letter of Credit
Amount: $425,000.00
Exhibit "C" Improvement Security - Material and Labor:
Form. Letter of Credit
Amount, $212,500.00
Exhibit "D" Improvement Security - Monuments:
Form. Letter of Credit
Amount: $6,500.00
Securities approved form and amount by
~'~~
City Attorney
Improvement Completion Date: Two years from date of Council
approval of the Subdivision Improvement
Agreement.
STATE OF CALIF//O~~R7NIA / ~ ~
COUNTY OF~~ 5j~/7~'~1~~~ LCi_-~ --~A ss.
On ~-'~~~y ~~`'~`-''~~`~ / ~~' / / ~~ b/enfor/elme, the undersigneAd,//a~ Notary Pub~lic~in and for
said State, personally appeared~~ ~~/~- ~' ~~ ~/~' `~JE~'~-~----
known to me to be The person-whose name ~~
subscrib~e1d to the within instrument and acknowledged to me
that_f~ ~ executed the same.
WITNESS my hand and official seal.
Signature
C~h.3~Tl-did ~, .~ ~~-It'~~'~~
Name (Typed or Printed)
(This area for official notarial seal)
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INTERNA?ZONAL
DIVISION
IRREVOCABLE ~[ UNITED CALIFORNIA BANK
LETTER OF CREDIT CJ BOX 54191 TERMINAL ANNEX .LOS ANGELES,CALIFORNIA 90054 CABLE ADDRESS UCALBANK
NO. L76-66,616 405 MONTGOMERY STREET. SAN FRANCISCO,CALIFORNIA 94104
AMOUNT US~212,500.00 October_l~_t 9~_6
u This credit has been advised by~rmai) ttr~C directly:
The City of Chula Vista
Civic Center
276 Fourth Avenue
Chula Vista, California 92010
Gentlemen:
This is the confirmation of the credit opined today by cable through our
above named correspondent.
It is only ovailahle for such amount os F~as not already been availed of
under such cable ad•+ice and may nol he availed of at oil unless attached ro
and as a part of our correspondent's notification of such caole advice, the
two jointly consFtutinq evidence of the outstanding amount of this credit
We hereby authorize you to dlaw on United California Bank, Los Angeles, California
at _______ sight for or:count of Clarence E. Minnerly, D.B.A. South Bay Villas, 6151 W.
Century Blvd., Suite 1104, Los Angeles, California 90045
up to on aggregate amount of 'I~ao Hundred Twelve Thousand Five Hundred United States Dollars
Drafts to be accompanied bv:
A signed statement by the an Attorney of The City of Chula V~,sta that the amount drawn
under United California Bank Letter of Credit Number L76-66,616 is required by The City
of Chula Vista to secure payments to the Contractor, his Subcontractor and to persons
renting equipment or furnishing labor or materials to complete the improvements on the
South Bay Villas subddvision as per the subdivision agreement between Clarence E, Minnerl
D.B.A. South Bay Villas and The City of Chula Vista dated August 24, 1976.
It is a condition of this Letter of Ctredit that it shall be deemed automatically extended
without amendment for six (6) months from the present or any future expiration date heeeo
unless 30 days prior to any such date we shall notify you in writing by registered mail
that we elect not to consider this Letter of Credit renewed for any such additional
period.
Upon receipt by you of such notice you may draw hereunder without having 'incurred lia-
bility .by means of your drafts.on us at sight accompanied by your written certification
that the subdivision agreement which these funds cover is still not concluded and that
the proceeds of your drafts will be retained and used by you to meet any payments which
you may thereafter be required to make and further that in the event the liability under
such agreement is satisfied, you will refund to United California Bank the amount paid
to you, less any amounts which may have been paid by you in the meantime to satisfy the
agreement.
Drafts drawn hereunder must specifically mention the number and date of this letter of credit.
The amount of each draft negotiated, together with the date of negotiation, must be endorsed on the reverse side of
this Letter of Credit.
We hereby agree with the drawers, ~~~~~~~~~~s~that the drafts drawn under and in accordance
with the terms of this credit shall be duly honored upon presentation to the drawee, ~xr~c~ta~on or 6eforeQCtober 1,
Sincerely, ~ ~ ~ ~~_. 1977'
AUTHORIZED SIGNATURE AUTHORIZED SF6NATU RE ~~
Except as otherwise stated herein, this credit is subject to the Uniform Customs and Practice for Documentary Credits (1974 Revision) International Chamber of
Commerence Publication No. 290.
COMMERCIAL UNION ASSURANCE COMPANIES
BOSTON, MASSACHUSETTS
Commercial Union Insurance Co.
(Name of Insurance Company) 9-3-76
CERTIFICATE OF INSURANCE °ate
1llht$ IS t0 C>erttf~ that the Company named above h as issued a policy or policies, covering in accordance with the
terms thereof, to the insured named below. It is the intention of the Company that in ~t~ event of cancellation of the
policy or policies by the Company during the periods of coverage as stated herein, I days written notice of such
:ancellation will be mailed to the party to whom this Certificate is issued, at the address stated below. This Certificate
of Insurance neither affirmatively nor negatively amends, extends or alters the coverage afforded by the policy or pol-
icies issued by the Company as indicated above.
game And Address C.7t Party to Whom This Certificate Is Issued Name And Address Of Insured
City of Chula Vista Clarence E. Minnerly dba: South Bay
P. 0. Box 1087 Villas
Chula Vista, Calif. 92012 % Cemland Development Co.
6151 W. Century Blvd., #1104
Description of Motor Vehicle
xOperotionsoflnsured 1 on L ne & East J St. Chula Vista Ca.
Ploce of Garaging or
Location of Operations or Premises
TYPE OF POLICY ` POLICY PERIOD
X POLICY NUMBERt LIMITS OF LIABILITY
STANDARD WORKMEN'S COMPENSATION EFFECTIVE EXPIRATION
i
EMPLOYERS' LIAi1LITT STATUTORY
Coverage B
GENERAL LIABILITY
BODILY INJURY
Premises Operations - - -
Elevators
IndependeniConiroctors dme ame ame $ 500,000. Each Occurrence
Products Combined Aggregate Products
Completed Operations $ Si ngl e ~ Aggregate Comp. Operations
cantractu°' X Limit s
PROPERTY DAMAGE
Premises Operations X W2 9721 - 3- 5 - 3- $ Same Each Occurrence
Elevators $ d$ above Aggregate Oper.
Independent Contractors X Same ame ame $ Aggregate Protective
Products X
Same Aggregate Products
Completed Operations X $
as above Aggregote Comp Operators
Cantractaal ~
X
$ Aggregate Contractual
AUTOMOBILE LIABILITY
BODILY INJURY
Owned Automobiles $ Each Person
Hired Automobiles
Non-owned Automobiles
PROPERTY DAMAGE
Owned Automobiles
Hired Automobiles
Non-owned Automobiles
Its C.ertltlcate of Insurance is not valid unless it is countersigned
• Absence of on "X" in these spaces means shot insurance is not afforded
with respect to the coverages or hazards opposite thereto.
t If more than one kind of insurance is written on one policy, the policy
number need not be repeated.
15950-19
by a duly a.ufhariied,,, e~sresenta,~ e' f the pony.
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ORIGII~fAL
URIITEC9 +CALI F®RIV IA BAIT
REAL ESTATE LOAN pEPARTMENT 600 SOUThi SPRING STREET LOS ANI;ELES, CALIFORNIA
M AI~;NG AL)['HE POv. 151 ~(l t .A NClFI!`.. ~'. ~.I ii ~~F ,v~n n ~,I
September 28, 1976
The City of Chula Vista
Civic Center
276 Fourth Avenue
Chula Vista, California 92010
Gentlemen:
Upon recording, we will establish an irrevocable Commitment of Funds
in your favor for the account of Clarence E, Minnerly, d,b,a, South
Bay Villas for an amount not to exceed in aggregate $425,000.00
which amount shall be designated by the City of Chula Vista as an
improvement security for the following purposes:
A,' Improvement security given for the faithful performance
of that certain agreement by and between the City of
Chula Vista and Clarence E, Minnerly, d,b,a, SouttT Bay
Villas, in tI1P_ sum of $ 425,000.00 , this amount being
the total estimated cost of the improvements.
Said amount is available for payment as stipulated herein,
1, For payments of invoices signed by contractor covering
subdivision improvements in and adjacent to South Bay
Villas, Said invoices must be approved for payment by
Clarence E, Minnerly, d,b,a, South Bay Villas, and the
payment of these invoices so approved will be made as
follows:
a, 90% of the amount of. the work certified to have
been completed by the City Engineer as described
under Item 1.-a-, (2} below will be paid provided
the contractor's invoices approved as stated above
are accompanied by:
(1} Contractor's lien releases, and
(2} Certificate of Acceptance issued by the City
Engineer certifying the completion and acceptance
of the work covered by said invoice. This
Certificate of Acceptance does not constitute
approval or acceptance by the City Council of
the City of Chula Vista of the work done,
b• The remaining unpaid balance of the value of the.
UNl7ED CALIFORNIA BANK - page T~.~o
The City of Chula Vista
Chula Vista, California 92010
September 28, 1976
b. (con't.) work completed, as certified by the City
Engineer, by the Certificates of Acceptance
presented to us, together with invoices and
contractor's lien releases as specified above and
as certified by the City engineer, will be paid
to contractor when ilnited California Bank receives,
in addition to the documents requested above, a
certified copy of the resolution of the Council
of the City of Chula Vista by whi.cl; the City of
Chula Vista accepts the work covered by all of
said invoices; provided, however, that the amount
available under this commitment has not been
previously exhausted by payment in full to the
City of Chula Vista as stipulated under Item 2
of this Commitment of Funds.
2. In the event Clarence E, Minnerly, d.b.a. South Bay
Villas, fails to complete and pay for said improvements
and upon receipt of a letter from the City of Chula Vista
addressed to lJnited California Bank stating that the work
'has not been performed as agreed, and accompanied by the
resolution of default adopted by the Ccuncil of the City
of Chula Vista, all funds remaining in said impound
accounC shall be irri:nediately available to the City of
Chula Vista to complete and pay for the costs of said
improvements, The City of Chula Vista shall not in any
way be obligated to repay said funds so used.
This Commitment of Funds expires April 1, 1978, unless previously exhausted by
payment in full of the amount available under Item A of this credit, as provided
under Item 1 or Item 2 above in the aggregate sum of $425,000.00.
We hereby agree to make payment as specified above, provided you deliver to us,
on or before February 1, 1978, the i{ocuments Complying with the above-stipulated
terms and conditions.
Very truly yours,
by:
Approved ~as to form by
.-
f,,
~...
George D, ndberg, City Attorney
~~
UNIT }D CALIFORDIIA BANK
by ~ ~e~~~crC~Gs~e--..-'
Assis}ant Vice-President
d.b.a. South Bay Villas
U N I ~' E C9 CA L i FfJJ R ~J I A ~AiV K
REAL ESTATE LOAN DEPARTMENT 600 SOU1'Fi SPRING STREET LOS ANGELES, CALIFORNIA
Ml~Ii INI; AC11~!~f '„ ~i (,A 1'-I/ ~ f~l ~: 4M;;LIf'~. CAI :.~ ~:ti > >~ ,,
September ?_8, 1976
The City of Chula Vista
Civic Center
276 Fourth Avenue
Chula Vista, California 92010
Gentlemen:
Upan recording, we will establish an irrevocable Comrlitment of Funds
in your favor for the account of Clarence E, Minnerly, d.b,a, South
Bay Villas for an amount not to exceed in aggregate $ 6,500.00
which amount shall be designated by the City of Chula Vista as an
improvement security for the following purposes:
A,' Improvement security given for the faithful. performance
of that certain agreement by and between the City of
Chula Vista and Clarence E, Minnerly, d.b.a. South Bay
Villas, in the sum of $b,5OO.OO this amount being
the total estimated cost of the survey monumentation.
Said amount is available for payment as stipulated herein.
1, For payments of invoices signed by canr_ractor covering
subdivision improvements in and adjacent to South Bay
Villas, Said invoices rm~st be approved for payment. by
Clarence E• Minnerly, d,l~,a. South Bay Villas, and ttie
payment of these invoices so approved will be made as
follows:
a. 90% of the amount of the worlc certified to have
been completed by the City Engineer as described
under Item 1,-a-, (2) below will be paid provided
the contractor's invoices approved as stated above
are accompanied by:
(1) Contractor's lien releases, and
(2) Certificate
Engineer ce
of the work
Certificate
approval or
the City of
of Acceptance issued by the City
reifying the completion and acceptance
covered by said invoice. This
of Acceptance does not constitute
acceptance by the City Council of
Chula Vista of the work done,
b• The remaining unpaid balance of tt~e value of the
UNITED CALIFORNIA BANG( _ page Two
The City of Chula Vista
Chula Vista, California 92010
September 28, 1976
b, (con't,) work completed, as certified by the City
Engineer, by the Certificates of Acceptance
presented to us, together with invoices and
contractor's lien releases as specified above and
as certified by the City Engi-Weer, will be paid
to contractor when United California Banlc receives,
in addition to the documents r~_quested above, a
certified copy of the resolution of the Council
of the City of Chula Vista by which the City of
Chula Vista accepts the worlc covered by all of
said invoices; provided, however, that the amount
available under this commitment has not been
previously exhausted by pay2ient in full to the
City of Chula Vista as stipulated under Item 2
of this Conunitment of Funds,
2, In the event Clarence E. Plinnerly, d,b,a, South Bay
Villas, fails to complete and pay for said improvements
and upon receipt of a letter from the City of Chula Vista
addressed to United California Banff; stating that the work
•has not been performed as agreed, and accompanied by the
resolution of default adopted by tYte Council of the City
of Chula Vista, all funds remaining in said impound
account shall be immediately available to the City of
Chula Vista to complete and pay for the costs of said
improvements, T.he City of Chula Vista shall not in any
way be obligated to repay said funds so used.
This Commitment of Funds expires April 1, 1978, unless previously exhausted by
payment in full of the amount available under Item A of ttlis credit, as provided
under Item 1 or Item 2 above in the aggregate sum of $6,500.00.
We hereby agree to make pa «ent as specified above, provided you deliver to us,
on or before February 1, 1978, the dacument_s complying with the above-stipulated
terms and conditions.
Very ,*.ruly yours ,
UNITED CALIFORNIA BAP~IC
by:
Clarence E. Minn~rly
d.b.a. South Bay Villas
Assistant Vice-President
Approved as to form by