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HomeMy WebLinkAboutReso 1981-10666 RESOLU'l'ION NO. 10666 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULI\. VISTA APPROVING AGREEMENT BE'IWEEN THE CITY OF CHULA VISTA AND PACIFIC SCENE, INC. AND FINAI'JCIAL SCENE, INC., A JOINT VENTURE, FOR THE CONSTRUCTION OF AN OFFSI'I'C PO~rrON OF TELEGRAPH CANYON ROAD AND AUTHORIZING THE MAYOR TO EXECUTE SAID AGREEMENT The Ci ty Council of the Ci ty of Chula Vista does herely resolve as follON's: NON, THEREFORE, BE IT RESOLVED by the Ci ty Council of the Ci ty of Chula Vista that that certain agreanent between THE CITY OF CHULI\. VISTA, a municipal corporation, and PACIFIC SCENE, INC. and FINANCIAL SCENE, INC., a joint venture, for the construction of an offsite portion of Telegraph Canyon Road dated the -13th day of October , 1981 , a copy of which is attached hereto and incorporated herein, the same as though fully set forth herein be, and the same is herely approved. BE IT FURTHER RESOLVED that the Mayor of the City of Chula Vista be, and he is herely authorized and directed to execute said agreanent for and on behalf of the City of Chula Vista. Presented by Approved as to fonn by ~~a:k3 d". /V~ ,~y George . Lindberg, City Att~ey } L -/-' /~ 1'! t7f ~J7'~ PJohn P. Lippitt,'City Engineer ADOPTED AND APPROVED by the CITY COUNCIL of the CITY OF CHULA VISTA, CALIFORNIA, this 13th day of October 19H~, by the follON'ing vote, to-wit: AYES: Council~n Cox, McCand1iss, Scott, Hyde, Gil10w NAYES: Council~n None ABSENT: Council~n None r7 W.d.J). -r'M ATTEJrT,~,q (~.. Mayor of the City of Chula Vista .// )t City Clerk (,/ STATE or' CALIFORNIA) COUNTY OF SAN DIEGO) ss. CITY OF CHULI\. 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CERTIFY that the above is a full, true and correct copy of Resolution No. and that the same has not been amended or repealed.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. 342 Rev. 7/81 AGREEMENT FOR CONSTRUCTION OF AN OFFSITE PORTION OF TELEGRAPH CANYON ROAD, CHULA VISTA TRACT 80-20 CHARTER POINT THIS AGREEMENT, made and entered into this 13th day of October , 1981, by and between THE CITY OF CHULA VISTA, a municipal corporation, hereinafter called "City", and TREETOPS UNLIMITED, a joint venture composed of PACIFIC SCENE, INC., a California corporation, and FINANCIAL SCENE INCORPORATED, a California corporation, 3900 Harney Street, San Diego, California 92110, hereinafter referred to as "Developer"; WIT N E SSE T H . ------- WHEREAS, Developer has submitted for approval to the City the final map and subdivision improvement agreement for Chula vista Tract 80-20, Charter Point Unit 1, and WHEREAS, in addition to those improvements within said sub- division, Developer is also required by the City as a condition of City's approval of said final map to improve a portion of Telegraph Canyon Road as more particularly described herein, and WHEREAS, Developer desires to postpone the construction of said improvements until prior to occupancy of any residences in Units 2 or 3 of Charter Point Subdivision and proposes to enter into an agreement with City to provide City with security that such improvements will be constructed in the future, and WHEREAS, Developer agrees concurrent with the execution of this agreement to provide a faithful performance bond in the amount of $1,600,000.00 as such security, and WHEREAS, Developer agrees to complete said required improve- ments either prior to the occupancy of any lots or condominiums created by the final maps of Units 2 or 3 or within five (5) years following the date of approval of the final map for Charter pointe Uni t 1. NOW, THEREFORE, IT IS MUTUALLY AGREED by and between the parties hereto as follows: 1. Developer, in lieu of making the improvements specified herein as a condition of the final map of Chula Vista Tract 80-20, Charter Point Unit 1, agrees, covenants and promises that he will install, construct or cause to be installed or constructed, the improvements set forth herein no later than five (5) years from the approval of said final map; provided, however, Developer shall be required to complete said improvements prior to the occupancy of any lots or condominiums in Units 2 or 3 of Charter pointe Subdivision. provided, further, that upon the happening of either of the following occurrences, said improve- ments may, at the sole election of City, be required to be completed: (a) When the City Council of the City of Chula Vista has initiated assessment proceedings over that portion of Telegraph Canyon Road as described herein; or (b) When owners of more than sixty percent (60%) of the frontage along said portion of Telegraph Canyon Road /- /~h60 have petitioned the City to form an improvement district for the improvement of said street and the City ini- tiates such proceedings. Said improvements shall be made without cost or expense to the City. 2. Canyon herein Those improvements required to be installed on Telegraph Road prior to the occupancy of the units as provided are as follows: Prior to the occupancy of any residences in either Unit 2 or 3 of the Charter Point~ Subdivision, a four-lane divided roadway to ultimate design and location (excluding median landscaping) from Station 69+50 as shown on Chula vista Drawing 78-345D to the future loca- tion of Paseo Ranchero and a 57-foot wide roadway from paseo Ranchero to Otay Lakes Road shall be completed. Said improvements shall include, but not be limited to, 37 feet of pavement, curb and gutter each side of the "N" line as shown on Chula vista Drawing 77-45D Station 71+00 to 77-44D Station 98+50 (conceptual design) appropriate transitions as determined by the City Engineer and 57 feet of pavement, curb, gutter and A.C. dike from the end of the transition east to Otay Lakes Road. Drainage facilities shall be provided for both roadway sections as determined by the City Engineer. Improvements within the segment from the future paseo Ranchero east to Otay Lakes Road shall be situated in such a way as to provide ultimate improvements in the north half of Telegraph Canyon Road. City estimates that at the time of the signing of this contract, the cost of construction of said improvements is $1,600,000.00. Developer hereby acknowledges that said amount is a reasonable estimate of construction costs at this time and that the actual costs of said improvements at some time in the future may exceed this estimate. Developer hereby agrees that its obli- gation under this agreement extends to the actual costs of construction of said improvements notwithstanding that such costs may exceed such estimate, and the deposits in the amounts then required by City. 3. For the faithful performance of the promises and cove- nants herein contained, Developer agrees to deposit with the City as security a bond in the amount of $1,600,000.00 in the form to be approved by the City Attorney, which shall be a bond for a period of five (5) years with guaranteed payment of annual pre- miums. In the event that said premiums are not paid for a suc- ceeding year, said bond shall be subject to enforcement and collection by the City. In the event that Developer, its heirs, successors, assigns or transferees, fail to install or construct said improvements in the manner and within the time specified herein, Developer agrees that City may do any or all of the following: (a) Install and construct all or a portion of said improvements by contract or otherwise, and Developer grants permission to the City or City's contractors and their employees to enter upon any portion or portions of Chula vista Tract 80-20 reasonably necessary for said construction, and the entire cost and expense of said (/1- /obltr -2- I improvements shall be charged to said bond. Said cost and expense shall be payable by Developer, its suc- cessors, heirs, assigns or transferees, immediately upon completion of said improvements, and in the event the same is not paid within thirty (30) days from said completion, City may make demand on said bond. (b) Direct the City Engineer to estimate the cost of the work required to complete said improvements and make demand on said bond. IN WITNESS WHEREOF, the parties hereto have caused this agreement to be executed the day and year first hereinabove set forth. CITY OF CHULA VISTA Ma~~e1::j~c Chula Vista ATT~:; ?&pi5;L-r Approved as _ by: --~ . --( City Attorney TREETOPS UNLIMITED, a joint venture f'NANCIAL SCENE \..J. c . INCORPORATED ..._~. ,(.')......>-" L " ~.. \j ,I( L Ii,? PACIFIC SCENE, INC. ~~4 1f-/(j666 -3- I STATE OF CALIFORNIA) ss: COUNTY OF SAN DIEGO) On this 13th day of October ,1981, before me, the undersigned, a Notary Public in and for said county and state, personally appeared Pat McCardle known to me to be the Vi ce President, and Wi] bur E. Johnson , known to me to be the Assistant Secretary, of PACIFIC SCENE, INC., the corpora- tion that executed the within instrument, said persons being known to me to be the persons who executed the within instrument on behalf of said corporation, said corpora- tion being known to me to be one of the joint venturers of TREETOPS UNLIMITED, the joint venture that executed the within instrument, and acknowledged to me that such corporation executed the same, both individually and as venture, and that such joint venture also executed the i) OFFICIAL SEAL LOIS MAE CALKIN ... ' ' NOTARY PUBUC. CALIfORNIA - .,; PRlNC1PAl OFfiCE IN ,,_;.. SAN DfEGO COUNTY My Commission E)(pi~s May 6, 1985 ~66~-",.'J8?5?9'l. WITNESS my m a~d official seal. .~ t-/~666 Notary Public in and for said county and state. STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) ss. On this 13th day of October , 19-1Ll before me, the undersigned, a Notary Public in and for said County and State, personally appeared A. C. Breqante , known to me to be the F.xecut i ve Vice President, and Garv A. Gram1inq , known to me to be the Vice President ~~ of FINANCIAL SCENE INCORPORATED, the corporation that executed the within instrument, said persons being known to me to be the persons who executed the within instrument on behalf of said corporation, said corporation being known to me to be one of the joint venturers of TREETOPS UNLIMITED, the joint venture that exe- cuted the within instrument, and acknowledged to me that such corporation executed the same, both individually and as joint venturer of said joint venture, and that such joint venture also exec d the same. , OFFIC1AL SEAL ELEANOR GIBSO~! NOTARY PUBLIC ~ CAUFORNtA SAN DIEGO coumv I' My comm. expires AUG 2, 198~ Notar - / () 6 p6 and for said County and State.