Loading...
HomeMy WebLinkAbout9433 - Subdivision Agreement Tract 9620r 4 RESOLUTION NO. 9433 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A SUBDIVISION AGREEMENT BETWEEN THE CITY OF NEWPORT BEACH AND PACESETTER HOMES, INC., IN CONNECTION WITH TRACT NO. 9620 AND AUTHORIZING THE RELEASE OF A PREVIOUSLY EXECUTED SUBDIVISION AGREEMENT WITH THE IRVINE COMPANY FOR SAID TRACT WHEREAS, the City Council of the City of Newport Beach has approved an agreement for the construction of improvements with Tract No. 9620, together with faithful performance and labor and materials bonds on March 1, 1978; and WHEREAS, Pacesetter Homes, Inc., desires to substitute an agreement between themselves and the City of Newport Beach for construction of the improvements required with Tract No. 9620 in place of the previously executed agreement between the City of Newport Beach and The Irvine Company; and WHEREAS, Pacesetter Homes, Inc., has presented to the City Council a certain Subdivision Agreement, together with faithful performance and labor and materials bonds, guaranteeing completion of the improvements required with Tract No. 9620; and WHEREAS, the City Council has reviewed the terms and conditions of said Subdivision Agreement and bonds and finds them to be satisfactory and that it would be in the best interest of the City to authorize the Mayor and City Clerk to execute said agreement, together with the release of the previously approved agreement with The Irvine Company, 0 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Newport Beach that said agreement above described is hereby approved, and the Mayor and City Clerk are authorized and i directed to execute the same on behalf of the City of Newport Beach. BE IT FURTHER RESOLVED by the City Council of the City of Newport Beach that the agreement previously entered into between the City of Newport Beach and The Irvine Company, guaranteeing completion of the improvements required with Tract No. 9620, be released to The Irvine Company. ADOPTED this 25th day of September , 1978. ATTEST: Ci"tyC U IWCM AS 'M Oano4kt C ITY CL9AX O K9 CITY Of PIEWTOMT BEACH SEP 2 7 1978 Mayo -2- HRC /kb 9/11/78