HomeMy WebLinkAboutReso 1985-12013 RESOLUTION NO. 12013
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING AGREEMENT BETWEEN THE CITY OF CHULA
VISTA AND FINANCIAL SCENE, INC. dba THE VILLAGE COMPANY
TO REDUCE THE AMOUNT OF BONDING FOR PUBLIC IMPROVEMENTS
IN HIDDEN VISTA SUBDIVISION (TERRA NOVA) AND REPAIR OF
96" CAST-IN-PLACE DRAINAGE CULVERT
AND AUTHORIZING THE MAYOR TO EXECUTE SAID AGRE~4ENT
The City Council of the City of C~ula Vista does hereby
resolve as follows:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Chula Vista that that certain agreenent between THE CITY
OF CHULA VISTA, a municipal corporation, and FINANCIAL SCENE, INC.
dba THE VILLAGE COMPANy to reduce the amount of bonding for public
improvements in Hidden Vista Subdivision (Terra Nova) and repair of
96" cast-in-place drainage culvert
dated the 7th day of May , 198 5, a copy of which is
attached ~ a~nd ihcorpor~ted 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.
Presented by Approved as to form by
fubh~i~'~ ~e~f Q~omas Jr F~on, City
~Attorney{~/
ADOPTED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
CHULA VISTA, CALIFORNIA, this 7th day o[ May
19 85 , by the following vote, to-wit:
AYES: Councilmembers Noore~ McCandl±ssr Scott.
NAYES: Councilmembers None
ABSTAIN: Council members cox
ABSENT: Counci 1 members Malcolm
.oyo, or of c,ulo vist0
City Clerk ~,'
STATE OF CALIFORNIA )
COUNTY OF SAN DIEC~ ) ss.
CITY OF CHULA VISTA )
I, JENNIE M. FULASZ, CMC, CITY CLERK of the City of Chula Vista, California,
DO HEREBY CERTIFY that the above ond foregoing is o full, true and correct copy of
RESOLUTION NO. 12013
,ond thor the some has not been amended or repealed.
DATED
(seal) City Clerk
CC-660
AGREEMENT BETWEEN THE CITY OF CHULA VISTA
AND FINANCIAL SCENE, INC. DBA THE VILLAGE COMPANy
TO REDUCE THE AMOUNT OF BONDING FOR PUBLIC
IMPROVEMENTS IN HIDDEN VISTA SUBDIVISION
THIS AGREEMENT, made and entered into this 7th
of May day
, 1985, by and between THE CITY OF CHULA
VISTA, a municipal corporation, hereinafter called "City" and
FINANCIAL SCENE, INC., a California corporation dba THE VILLAGE
COMPANY, hereinafter called "Subdivider";
W I T N E S S E T H :
WHEREAS, the City and Subdivider halve previously entered
into a Subdivision Improvement Agreement for Chula Vista Tract
80-15, Hidden Vista Village, and
WHEREAS, as part of the Subdivision Improvement
Agreement, the Subdivider was required to construct public
improvements and to bond for this work, and
WHEREAS, the Subdivider posted a bond for ~3,690,000
through American Insurance Company of New Jersey - Bond No. SC
731-12-92, and
WHEREAS, the public improvement work has been completed
with the exception that certain corrective work must be performed
involving the replacement of a 96" cast in place culvert pipe
with reinforced concrete pipe at Stations 0+00 to 0+80 where some
cracking has occurred, and
WHEREAS, the engineer,s estimate of the replacement work
totals ~250,000, and
WHEREAS, the Subdivider is the successor in interest to
a joint venture between Financial Scene, Inc. and Watt Industries.
follows: NOW, THEREFORE, IT IS MUTUALLY understood and agreed as
1. Subdivider agrees to make the necessary repairs to
the double barrel 96" cast in place pipe between Stations 0+00
and 0+80 as shown on Improvement Plan for Storm Drain "A", sheet
56, plan numbered 81-66 on file in the office of the Chula Vista
City Engineer. Said repairs will be made as proposed by
Sheppardson Engineering Associates, Inc. and will be monitored
every six months for two years from the date of this agreement.
2. Subdivider guarantees removal and replacement of
said pipe with 96" reinforced concrete pipe and appurtenant
related structures should failure to the existing pipe occur
within a two-year period.
3. Subdivider agrees that all work shall conform to the
City of Chula Vista specifications and standard drawings.
4. City agrees to the reduction of the bond from
~3,690,000 to $250,000 which bond shall be in effect for two
years after the completion of the repairs described above.
IN WITNESS WHEREOF, the parties hereto have executed
this agreement the day and year first hereinabove set forth.
THE CITY OF CHULA VISTA FINANCIAL SCENE, INC. dba
THE VILLAGE COMPANY
~/// City Clerk J - y
Approved as to form by