Resolution 08933CITY OF ALAMEDA RESOLUTION NO. 8933
AUTHORIZING EXECUTION OF AGREEMENT WITH AE REALTY
PARTNERS FOR CONSTRUCTION OF PUBLIC IMPROVEMENTS IN
SUBDIVISION TRACT 3904 AND APPROVING BONDS AS TO
SUFFICIENCY; AND AUTHORIZING EXECUTION OF AGREEMENT
WITH HARBOR BAY ISLE ASSOCIATES TO TERMINATE AND
CANCEL ORaIGINAL AGREEMENT FOR SUBDIVISION TRACT 3904
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
3904 and on May 16, 1978, by its Resolution No 8907, 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 certairi 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 3904 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 3904 at
$1,535,405.00; 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 $1,535,4O5.00,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 20th day of June,
1978, by the following vote, to wit:
AYES: Councilmen Beckam, Diament, Sherratt, Tillman, and
President Corica, (5).
NOES.
ABSENT:
None.
None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 21st day of June, 1978.
City Clerk of the City of Alameda