HomeMy WebLinkAboutReso 37-11 Positano Rel Sec Tr 8037RESOLUTION NO. 37 -11
A RESOLUTfON OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
*********
PARTIAL RELEASE OF SECURITY FOR TRACT 8037,
NEIGHBORHOOD C-2, POSITANO/ FALLON VILLAGE
WHEREAS, D. R. Horton Northern Cafifornia Division, dba D. R. Horton BAY, lnc., the
subdivider of Tract 8037, filed on August 30, 2010, in Book 305 of Maps at Pages 93-96,
previously entered into an Improvement Agreement with the City of Dublin dated August 17,
2010, to improve said Tract in accordance with plans on file with the City Engineer (Resolution
125-10); and
WHEREAS, the improvements for Tract 8037 are more than 80% complete in
accordance with said plans, to the satisfaction of the City Engineer; and
WHEREAS, the Performance Bond, and the Labor and Materials Bor~d can be partiaNy
released, in accordance with the authority contained in §66499.7 of the Government Code of the
State of California.
NOW, THEREFORE, BE IT RESOLVED that:
1. The original Labor and Materials Bond issued by Safeco Insurance Company of
America in the amount of $1,711,380 for the improvements (Bond No. 66~9180)
be released and replaced by a bond rider issued by Safeco Insurance Company of
America in the amount of $427,845 (Bond No.6679180); and
2. The original Performance Bond issued by Safeco Insurance Company of America
in the amount of $1,711,380 for the improvements (Bond No. 6679180) be .
released and replaced by a bond rider issued by Safeco Insurance Company of
America in the amount of $427,845 (Bond No. 6679180}.
PASSED, APPROVED AND ADOPTED this 19th day of April, 2011, by the following
vote
AYES: Councilmembers Biddle, Hart, Hildenbrand, Swalwell, and Mayor Sbranti
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
~~ ~ D~-~/
City Clerk
Reso No. 37-11, Adopted 4-19-11, Item 4.6 Page 1 of 1
~
~J~ ~~~'~.,~,
Mayor