Resolution 10027CITY OF ALAMEDA RESOLUTION NO. 10027
AUTHORIZING AGREEMENT WITH HARBOR BAY ISLE ASSOCIATES
TO SUBSTITUTE AN AGREEMENT IN LIEU OF PERFORMANCE
BONDS FOR VILLAGE IV
WHEREAS, Harbor Bay Isle Associates has entered into certain
agreements with the City of Alameda for the construction of public
improvements within various subdivision tracts located in Village
IV on Bay Farm Island and has posted subdivision improvement bonds
to guarantee construction of said public improvements; and
WHEREAS, due to the condition of the economy and the slow
down in the construction industry, work in many of these tracts
has not commenced; and
WHEREAS, Harbor Bay Isle Associates proposes that the bonds
be returned to them and has agreed to enter into an agreement
with the City which will prohibit any construction without the
replacement bond for each tract and prohibit any sale to another
party of the properties involved without City approval;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF ALAMEDA that the Mayor and the City Clerk be, and each hereby
is, authorized and directed to execute and to attest to, respec-
tively, on behalf of the City, an agreement with Harbor Bay Isle
Associates to return the subdivision public improvement bonds
shown on Exhibit "A", attached hereto and made a part of this
resolution, to Harbor Bay Isle Associates in exchange for provisions
in said agreement which (1) warrant that no work will be commenced
on any tract within Village IV without a bond, or other security,
as indicated on Exhibit "A" being provided for that tract and
(2) no sale will be made of any undeveloped lot within any tract
without a bond, or other security, being provided for that tract.
HARBOR BAY ISLE ASSOCIATES
VILLAGE 4 BONDS
DESCRIPTION
ORIGINAL CHANGE IN OUTSTANDING
AMOUNT OF BOND BOND AMOUNT AMOUNT OF BOND
TRACT 4290 HARBOR BAY PARKWAY
IMPROVEMENT BOND
TRACT 4290 SUBDIVISION
IMPROVEMENT BOND
TRACT 4288 SUBDIVISION
IMPROVEMENT BOND
TRACT 4288 - HARBOR BAY
PARKWAY IMPROVEMENT BOND
TRACT 4122 SUBDIVISION
IMPROVEMENT BOND
TRACT 4289 SUBDIVISION
IMPROVEMENT BOND
TRACT 4513 SUBDIVISION
IMPROVEMENT BOND
TRACT 4515 SUBDIVISION
IMPROVEMENT BOND
TRACT 4540 SUBDIVISION
IMPROVEMENT BOND
TRACT 4541 SUBDIVISION
IMPROVEMENT BOND
TRACT 4542 SUBDIVISION
IMPROVEMENT BOND
TRACT 4543 SUBDIVISION
IMPROVEMENT BOND
TRACT 4544 SUBDIVISION
IMPROVEMENT BOND
$210,000.00 $0.00 $210,000.00
$675,000.00 $0.00 $675,000.00
$370,000.00 - $136,000.00 $234,000.00
$359,000.00 $0.00 $359,000.00
$801,000.00 - $158,000.00 $643,000.00
$353,000.00 $0.00 $353,000.00
$901,000.00 $0.00 $901,000.00
$751,000.00 $0.00 $751,000.00
$760,000.00 $0.00 $760,000.00
$606,000.00 $0.00 $606,000.00
$352,000.00 $0.00 $352,000.00
$1,329,000.00 $0.00 $1,329,000.00
$855,000.00 $0.00 $855,000.00
TOTAL: $8,322,000.00 - $294,000.00 $8,028,000.00
APR 20, 1983
BONDS.4.83
Exhibit "A"
1, the undersigned, hereby certify the foregoing Resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in regular adjourned meeting assembled on the
26th day of April, 1983, by the following vote to wit:
AYES: Councilmembers Diament, Gorman, Sherratt and President Corica -
NOES: None.
ABSENT: Councilmember Stone.
IN WITNESS WHEREOF, 1 have hereunto set my hand and affixed the
official seal of said City this 27th of April , 1983.
Deputy y Clerk of the City of Alameda