Resolution 09029CITY OF ALAMEDA RESOLUTION NO. 9029
AUTHORIZING EXECUTION OF AGREEMENT WITH DIVIDEND
DEVELOPMENT CORPORATION FOR CONSTRUCTION OF PUBLIC
IMPROVEMENTS IN SUBDIVISION TRACT 4120 AND APPROVING
BONDS AS TO SUFFICIENCY; AND AUTHORIZING EXECUTION
OF AGREEMENT WITH HARBOR BAY ISLE ASSOCIATES TO
TERMINATE AND CANCEL ORIGINAL AGREEMENT FOR
SUBDIVISION TRACT 4120 PUBLIC IMPROVEMENTS
WHEREAS, Harbor Bay Isle Associates, a partnership comprised
of Doric Development, Inc., -a California corporation, and Bay Farm
Island, Inc., a Nevada corporation, presented 'to the council of
the City of Alameda for approval a Final' Map of subdivision Tract
4120 and on December 3 1978, by its Resolution No. 9011, said
Council approved said Final Map, authorized execution of an agree -
ment for construction and completion of public improvements in said
subdivision, approved faithful performance and labor and material:
bonds as sufficient in amount and accepted certain public streets,
easements and access rights dedicated and granted to the public and
to the City of Alameda; and
WHEREAS, Harbor Bay Isle Associates subsequently sold
the land included in the Final Map and Improvements Plans for
Tract 4120 to Dividend Development Corporation, a California
partnership, for development; and
WHEREAS, Dividend Development has accepted responsibility for
and agrees to construct' and bond all public improvements provided
for in the Final Map and Improvements Plans for Tract 4120 at
$741,033.00; and
WHEREAS, Harbor Bay Isle Associates desires to terminate
and cancel the Original Agreement and Dividend Development Corpora-
tion desires to enter into an agreement. with the City specifying
the nature and extent of the public improvements and the period
within which it will complete construction of the public improvements;
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF ALAMEDA that an agreement with Dividend Development Corporation
for construction and completion of the improvements in said sub-
division, and all the terms and conditions therein, be and hereby is
approved, and the city Manager and the City Clerk are authorized
and directed to execute and attest to, respectively, said agreement
on behalf of the City of .Alameda;
BE IT FURTHER RESOLVED that an agreement with Harbor Bay
Isle Associates terminating and cancelling the Original Agreement
and effecting a novation of all their respective rights, duties
and obligations under the Original Agreement be and hereby is
approved and the City Manager and the City Clerk are authorized and
directed to execute and attest to, ,respectively, said agreement
on behalf of the City of Alameda;
BE IT FURTHER RESOLVED that the bonds of Dividend Develop -'
men t Corporation in the total sums of $741,033.00, guaranteeing
,full and faithful performance of the public improvements construc-
tion contract, are hereby approved as sufficient in amount.
I, the undersigned, hereby certify that the foregoing Resolution
Was duly and regularly introduced and adopted by the Council of the
City of Alameda in regular meeting assembled on the 19th day of December,
1978, by the following vote, to wit:
AYES: Councilmen Beckarn, Diament, Sherratt, Tillman, and
President Corica, (5).
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 20th day'of December, 1978,
7) . .
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City of-AlTatiea
eputy 8 City Cler