HomeMy WebLinkAboutReso 161-10 Tr 7282 Landscpe ImprovRESOLUTION NO. 161 - 10
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
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RELEASE OF SECURITY FOR THE COMMON AREA
LANDSCAPE IMPROVEMENTS FOR TRACT 7282
WHEREAS, Lennar Homes of California, Inc., the developer of Tract 7282, previously entered
into a Tract Improvement Agreement with the City of Dublin dated November 6, 2007, Resolution
195-07, to complete required improvements for said Tract in accordance with plans on file with the
City Engineer; and
WHEREAS, the improvements associated with Tract 7282 included the common landscape
improvements, which have been completed in accordance with the Landscape Plans, Dublin Ranch,
Area F1, Tract 7282, Common Area prepared by Ralph J. Alexander & Associates, and any approved
modifications thereto, to the satisfaction of the City Engineer; and
WHEREAS, said Tract Improvement Agreement is secured by bonds furnished by Arch
Insurance Company in the amount of $910,000 for the common area landscape improvements (Bond
No. SU5024134), conditioned upon faithful performance of said Agreement; and
WHEREAS, said Tract Improvement Agreement is secured by bonds furnished by Arch
Insurance Company in the amount of $910,000 for the common area landscape improvements (Bond
No. SU5024134), conditioned upon payment for labor performed or material furnished under the
terms of said Agreement; and
WHEREAS, the Performance Bond, and the Labor and Materials Bond can be released, in
accordance with the authority contained in §66499.7 of the Government Code of the State of
California, and replaced with a Warranty Bond to guarantee the completed work for a one-year
period following acceptance; and
WHEREAS, Lennar Homes of California, Inc., has provided a Warranty Bond to guarantee the
common area landscape improvements for a one-year period.
NOW, THEREFORE, BE IT RESOLVED that:
1. The common landscape improvements associated with Tract 7282 are hereby
approved subject to a one-year guarantee period; and
2. The original PerFormance Bond issued by Arch Insucance Company in the amount of
$910,000 for the common area landscape improvements (Bond No. SU5024134) be
released; and
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3. The original Labor and Materials Bond issued by Arch Insurance Company in the
amount of $910,000 for the common area landscape improvements (Bond No.
SU5024134) be released; and
4. The submitted Warranty Bond issued by Arch Insurance Company in the amount of
$227,500 for the common landscape improvements associated with Tract 7282 (Bond
No. SU5024134-A) be accepted as security for the aforesaid one-year warranty period,
said period to commence on this date and terminate on the 16th day of November,
2011.
PASSED, APPROVED AND ADOPTED this 16th day of November, 2010, by the following
vote:
YES: Councilmembers Biddle, Hart, Hildenbrand, Scholz, and Mayor Sbranti
NOES: None
ABSENT: None
ABSTAIN: None
/'v.
~l,U--~ ,~'~
Mayor
ATTEST:
~' ~ ~
City Clerk
Reso No. 161-10, Adopted 11-16-10, Item 4.6 Page 2 of 2