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Resolution 10780CITY OF ALAMEDA RESOLUTION NO. 10780 AUTHORIZING EXECUTION OF SUBDIVIDER'S AGREEMENT FOR TRACT 4545 WITH CB ASSOCIATES TO INCORPORATE ALL THE TERMS OF THE ORIGINAL SUBDIVIDER'S AGREEMENT AS ADJUSTED AND TO EXTEND THE TIME FOR COMPLETION OF IMPROVEMENTS WHEREAS, on November 18, 1980, this Council approved the Final Map of Tract 4545, a condominium conversion of property located at Willow Street and Otis Drive, authorized the execution of a subdivision improvements agreement and approved bonds as to sufficiency; and WHEREAS, on November 16, 1982, this Council authorized execution of an agreement with the owners of the property to permit the substitution of a Memorandum of Agreement in lieu of the bonding requirement for the subdivision improvements; and WHEREAS, in 1983 the property was sold and on October 4, 1983, this Council authorized execution of an agreement with the new owners and an extension of time for completion of the improvements; and WHEREAS, the property has recently been purchased by CB Associates, a California joint venture comprised of Summerhill Investors, Artnat Investors, Oceanside Investors, La Costa Investors, Driftwood Investors, all California limited partnerships, and Driftwood Group, Inc., a California corporation; and WHEREAS, said owners desire to enter into a Subdivider's Agreement for Tract 4545 which incorporates all the terms of the original Subdivider's Agreement as adjusted with the alternate arrangement to guarantee completion of required improvements and \\\ extends the time to complete improvements to November 18, 1987; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Alameda that the City Manager and the City Clerk are hereby authorized to execute and attest to, respectively, on behalf of the City of Alameda, a Subdivider's Agreement for Tract 4545 with CB Associates which incorporates all the terms of the original subdivider's agreement as adjusted and extends the time for completion of improvements until November 18, 1987. I, the undersigned, hereby certify that the foregoing Resolution was duly and regularly adopted and passed by the Council of the City of Alameda in regular meeting assembled on the 19th of November, 1985, by the following vote to wit: AYES: Councilmernbers Corica, Hanna, Lucas, Monsef and President Diament - 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 November, 1985. City C1 er'k of the City of Alameda