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Resolution 08899CITY OF ALAMEDA RESOLUTION NO. 8299 AUTHORIZING EXECUTION OF AGREEMENT WITH AE REALTY PARTNERS FOR CONSTRUCTION OF PUBLIC IMPROVEMENTS IN SUBDIVISION TRACT 3903 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 3903 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 3903 and on December 20, 1977, by its Resolution No. 8837 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 a portion of the land included in the Final Map and Improvements Plans for Tract 3903 to AE Realty Partners, a California general partnership, for development; and WHEREAS, AE Realty Partners has accepted responsibility for and agrees to construct and bond all public improvements provided for in the Final Map and Improvements Plans for Tract 3903 at $899,757.00; and WHEREAS, Harbor Bay Isle Associates desires to terminate and cancel the Original Agreement and AE Realty Partners 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 AE Realty Partners for construc- tion and completion of the improvements in said subdivision, 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 AE Realty Partners in the total sum of $899,757.00, guaranteeing full and faithful performance of the public improvements construction 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 2nd day of May, 1978, by the following vote, to wit: AYES:' Councilmen Beckam, 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 3rd day of May, 1978. Deputy City Clerk of the/City of Alameda