HomeMy WebLinkAboutReso 1986-12664 RESOLUTION NO. 12664
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING AGREEMENT BETWEEN THE CITY OF CHULA
VISTA AND TREETOPS UNLIMITED FOR RELEASE OF BOND AND
CERTIFICATE OF DEPOSIT ASSOCIATED WITH THE CHARTER POINT
SUBDIVISION
AND AUTHORIZING THE MAYOR TO EXECUTE SAID AGREEMENT
The City Council of the City of Chula Vista does hereby
resolve as follows:
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Chula Vista that that certain agreement between THE
CITY OF CHULA VISTA, a municipal corporation, and TREETOPS UNLIMITED,
a partnership between Pacific Scene, Inc. and Financial Scene, Inc.
dated the 1st gay of August , 1986, a copy of which is
attached hereto and incorporated herein, 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.
Presente~ .f /// ~ i?. Approved as to form by
John P. Lippitt, Director "~
Thomas J. Harron, City ~
of Public Works/City Engineer Attorney
0374a
ADOPTED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
CHULA VISTA, CALIFORNIA, this 5th d~ o[ August
19 86 ., by the following vote, to-wit:
AYES: Councilmembers Malcolm, Moore~ Campbell~ McCandliss, Cox
NAYES: Counci 1 members None
ABSTAIN: Counci lmembers None
ABSENT: Counci l members None
Mayor of y of Chula Vista
" City Clerk
STATE Of CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
CITY OF CHULA VISTA )
I, JENNIE M. FULASZ, CMC, CITY CLERK of the City of Chulo Vista, California,
DO HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO, 12664 ,and that the same has not been amendedor repealed
DATED
City Clerk
CITY OF
CHULA VISTA
CC-660
AGREEMENT BETWEEN THE CITY OF CHULA VISTA AND TREETOPS
UNLIMITED FOR RELEASE OF BOND AND CERTIFICATE OF DEPOSIT
ASSOCIATED WITH THE CHARTER POINT SUBDIVISION
THIS AGREE~ENT made and entered into this
day of ~//~ , 1986 by and between the City of
Chula Visfa, ~-municipal corporation, hereinafter referred to as
"City", and Treetops Unlimited, a partnership between Pacific
Scene, Inc. and Financial Scene, Inc.
W I T N E S S E T H :
WHEREAS, the City Council of the City of Chula Vista has
approved by Resolution No. 10767, the tentative subdivision map
for Cbula Vista Tract 82-2 Charter Point, and
WHEREAS, a condition of said tentative subdivision map
was that certain improvements to Telegraph Canyon Road be made to
accomplish the widening and realignment of said public road, and
WHEREAS, the parties have previously entered into an
agreement on August 6, 1985 whereby Treetops Unlimited agreed to
acquire certain street right of way for public street purposes,
and
WHEREAS, Treetops Unlimited has provided the City with a
certificate of deposit in the amount of 4800,000 plus a
performance bond in the amount of 4800,000 for improving
Telegraph Canyon Road adjacent to the Charter Point Subdivision.
NOW, THEREFORE, IT IS MUTUALLY AGREED by and between the
parties hereto as follows:
1. The agreement between the parties of August 6, 1985
is hereby incorporated by reference.
2. The agreement of August 6, 1985 is hereby amended
whereby Treetops Unlimited agrees to deposit with the City the
sum of $100,000 for acquisition of right of way for the widening
and realignment of Telegraph Canyon Road. Treetops Unlimited
agrees that should the costs associated with this acquisition
exceed $100,000, it will pay the extra amount to the City. City
agrees that if the acquisition costs are less than $100,000, it
will return the remainder to Treetops Unlimited.
-1-
STATE OF CALIFORNIA )
)
COUNTY OF SAN DIEGO )
On ~x)~ / /~ , before me, the undersigned, a Notary Public in and
for said Coun~ and S'tate, personally appeared ~l~] d37, ~-{3~J) )~tf.,~ and
~ ~ , to me to ~/~0
/;~j~2~ ~ and
~D~ ~_~' ~ , respectively, of ~1~'~>' ~.~ ~, , a California
corporation, the corporation that executed the wi~in instrument, and acknowledged to
me that such corporation executed the within instrument pursuant to its by-laws or a
resolution of its board of directors.
W~T~ESS mx hand and officia~ seaX.
~ My Commiss~n ~k~ A~. ~, 1~7
Notary Public in and for said ~,~
County and State
CAT. NO. NN00737
TO 21845 CA (1--83) ~ TICOR TITLE INSURANCE
(Corporation)
STATE OF CALIFORNIA ~x
cOUNTY }
said Staie, pedonally appeareU
personally known to me or proved to me on the basi~
of satisfactory evidence to be the person who executed
the within instrument as the ~_ ~1~
P~nt, and, t~ ~ ~ '"
/~ ~0 personally known to me~
~e p~son who ~ecuted the within instrument ~ the ~ ~'"f~ NolaryKRISpubllc~aliforniaKOHO
~ ~ Seerc::O-of ~e Corporationthat executed the within instrument and acknowledged I~ SAN DIEGOGOUNTY [
--~ ~ My ~mm. Exp. dune 1,
to me that such corporation executed the within instru- ~ My ~mm. E~. ~ 1,
merit pursuant to its by-laws or a resolution of its
board of directors.
WITNESS my ha~ officia~/~
3. The parties agree that the improvement of Telegraph
Canyon Road adjacent to Charter Point should not take place until
a later date when it can be constructed in conjunction with an
overall major project for Telegraph Canyon Road. Treetops
Unlimited proposes and the City agrees that Treetops Unlimited
should deposit cash with the City to cover its portion of the
project.
4. Treetops Unlimited agrees to make a cash payment to
the City in the amount of ~828,997 in full satisfaction of
condition 17 of the tentative subdivision map for Chula Vista
Tract 82-2 to cover the estimated cost of undergrounding overhead
electric lines, completion of improvements, and completion of
landscaping of median.
5. City agrees to accept said cash payment in full
satisfaction of said conditions and to release the certificate of
deposit and performance bond currently provided by Treetops
Unlimited.
THE CITY OF CHULA VISTA TREETOPS UNLIMITED, a
partnership
By
FINANCIAL SCENE, INC.,
Mayor oft Vista Doing Business as Great
American Development Co.
ATTEST By
City Clerk
Approved as to form by ~'~'~~/~"~'
City Attorney /ff
PACIFIC SCENE, INC., a
California corporation
By
1840a