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HomeMy WebLinkAboutReso 14-04 FalonRoadImprovAgmt RESOLUTION NO. 14 - 04 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN APPROVING THE FIRST AMENDMENT TO THE IMPROVEMENT AGREEMENT FALLON ROAD NORTH WHEREAS, the Lin Family and the City of Dublin previously entered into an Improvement Agreement for the Fallon Road North Improvements to satisfy Condition of Approval No. 13 for Dublin Ranch, Area A included in Resolution No. 139-97, that requires the construction of Fallon Road to the north property line of Dublin Ranch; and WHEREAS, the Lin Family has executed and filed with the City of Dublin an amendment to the Improvement Agreement for Fallon Road North; and WHEREAS, said Improvement Agreement is secured by six bonds furnished by the Developers Surety and Indemnity Company (Bond Nos. 555000S thru 555005S) in the total amount of $3,780,770.00, and for grading and improvements, conditioned upon faithful performance of said Agreement; and WHEREAS, said Improvement Agreement is secured by six bonds furnished by the Developers Surety and Indemnity Company (Bond Nos. 555000S thru 555005S) in the total amount of $3,780,770.00, and for grading and improvements, conditioned upon payment for labor performed or material furnished under the terms of said Agreement; NOW, THEREFORE, BE IT RESOLVED that said amendment to the agreement and bonds are hereby approved. BE IT FURTHER RESOLVED that the Mayor is hereby authorized by the City Council to execute the Improvement Agreement. PASSED, APPROVED AND ADOPTED this 20th day of January, 2004. AYES: Councilmembers McCormick, Oravetz, Sbranti and Mayor Pro Tempore Zika NOES: None ABSENT: MayOr Lockhart ~/ Y ~ l~ayor i>ro~mpore K2/G/1-20-04/reso-~all~n-lin. doc (Item 4.1 I) g:\develop\dublin ranch~infirastmcturekfallon rd north~resolution amend agree.doc EXHIBIT "A" TO RESOLUTION/~-04 FIRST AMENDMENT TO IMPROVEMENT AGREEMENT FALLON ROAD NORTH THIS FIRST AMENDMENT TO THE IMPROVEMENT AGREEMENT FOR FALLON ROAD NORTH is made and entered in the City of Dublin on.this 20th day of January, 2004, by and among the City of Dublin, a Municipal Corporation ("City"), DR Acquisitions I, LLC ("DR Acquisitions"), and Sierra Land Development Corporation ("Sierra Land") (DR Acquisitions and Sierra Land are referred to collectively as "Developer"). RECITALS A. City and DR Acquisitions are parties to an agreement entitled Improvement Agreement Fallon Road North, dated February 6, 2001 and recorded on February 14, 2001 in the office of the Alameda County Recorder as Document No. 2001058052 ("the Agreement"). B. The Agreement refers to DR Acquisitions as both DR Acquisitions I, LLC and DR Acquisitions, LLC. For the purposes of the Agreement and this Amendment, references to either DR Acquisitions, LLC or DR Acquisitions I, LLC shall be deemed to refer to DR Acquisitions I, LLC. C. DR Acquisitions is the owner of certain land within the City of Dublin, known as Dublin Ranch. The City has approved certain development projects in Dublin Ranch that require the construction of the Fallon Road to the north property line of Dublin Ranch, as depicted in Exhibit B to the Agreement. D. Sierra Land is a legal entity controlled by the DR Acquisitions that DR Acquisitions propose to use to construct the Improvements. Sierra Land was not a party to the Agreement. E. By this Amendment, the parties intend to include Sierra Land as a party to the Agreement to authorize Sierra Land to provide the security required by Section 6 of the Agreement. F. Pursuant to the terms of Section 1 of the Agreement, DR Acquisitions has submitted the Offer of Dedication required by Section 1, and, subsequently, pursuant to Section 5, DR Acquisitions has submitted plans satisfactory to the City Engineer for Fallon Road North right of way and bonding ("the Plans"). The City has not yet accepted the Offer of Dedication pursuant to the terms of Section 7, and the parties now intend that DR Acquisitions will submit a revised Offer of Dedication to conform to the Plans. First Amendment to Improvement Agreement Page 1 of 5 For Fallon Road North 676079.1 -- G. Due to soil and topographic conditions of and anticipated grading and other development on the property adjacent to the northern boundary of Dublin Ranch, Developer has requested that its obligation to complete the northern two-hundred linear feet of the Improvements ("the Deferred Improvements") be deferred until such time as the developer of the property adjacent to the northern boundary of Dublin Ranch ("the Adjacent Property") completes grading on that property. NOW, THEREFORE, with reference to the foregoing recitals and in consideration of the mutual promises, obligations and covenants herein contained, City and Developer agree to amend the Agreement as follows: AGREEMENT Section 1. Inclusion of Sierra Land as a Party. The term "Developer" as used in the Agreement shall be deemed to refer .to both DR Acquisitions and Sierra Land. Section 2. Amendment to Section 6. Section 6 of the Agreement is amended to read as follows: "6. Gradin.q and Construction. No later than City Council approval of the Final Map for the last to record of Tracts 7137 (Neighborhood A-2), 7138 (Neighborhood A-3), 7139 (Neighborhood A-4) or 7140 (Neighborhood A-5) or earlier than such date if required by City with 180 days advanced written notice to Developer, Developer (or either DR Acquisitions or Sierra Land) shall provide City with a Performance Bond and Labor and Materials Bond for grading and constructing Fallon Road North. The Performance Bond shall be in an amount equal to 100% of the estimated costs of the improvements, as such costs are agreed to by Developer and the City Engineer, and the Labor and Material Bond shall be in the amount of 100%of such estimated cost of the improvements. Both bonds shall be .in a form approved by the City Engineer and executed by a surety authorized to do business in the State of California. In lieu of bonds, Developer (or either. DR Acquisitions or Sierra Land) may provide City with a letter of credit as a substitute for either or both bonds. The letter(s) of credit shall be in a form and duration approved by the City Attorney. The improvements shall be .completed within two years of execUtion of the bonds or the letter of credit. Notwithstanding anything to the contrary in the foregoing paragraph, Developer may defer construction of the Deferred Improvements until one year following the date upon which the City notifies Developer that the grading on the Adjacent Property has been completed or that the work is otherwise ready for First Amendment to Improvement Agreement Page 2 of 5 For Fallon Road North 676079.1 completion of the Deferred Improvements. In completing the Deferred Improvements, Developer shall comply with all other terms of the Agreement that are applicable to the Improvements." Section 3. Amendment to Section 8. The first sentence of Section 8 of the Agreement is amended to read as follows: "Prior to commencing construction of the Improvements, Developer shall obtain or cause to be obtained and filed with the City, all insurance required under this paragraph." Section 4. All other terms of the Agreement shall remain in effect. [EXECUTION PAGE FOLLOWS] First Amendment to Improvement Agreement. Page 3 of 5 For Fallon Road North 676079.1 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date and year first above written. CITY OF DUBLIN DEVELOPER .t/~ ~, ,.~_ ~ UISITIONS, By: .,,~'~,~'"'~:' f¢~'~'~. a,e: Its: (/~ ATTEST: Date: ~ --~ Date: ~;~ ~ ~~~~ Approved as to Form: ---~ Elizabeth H. Silver, City Attorney First Amendment to Improvement Agreement Page 4 of 5 For Fallon Road North 676079.1 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California '~ County of /¢¢..~.,/~,,~ ~,~ j~ ss. On /'- ~'~' ~' ~¢.7/ , before me, ~.~,/~1~/"~ ~ · ~.,%,~/A/O,.% ,4~ Date Name and Title of Officer (e.g., "Jane Doe, Notary Public") personally appeared ~.~',~/~-~' 7"~/V'~.,~ ., Name(a) of Signer(s) ,~ personally known to me proved to me on the basis of satisfactory evidence · ~--'--~"~"--- DAF~'L'ESP~NO~:'A i~ to be the person(s) whose name(s) is/are ~j,~;~ Commiss~o~#~322s4~ ~ subscribed to the within instrument and ~~ No.fy Public- California~ acknowledged to me that he/she/they executed ~j ~ ~¢~ ~,mm ~i~ ~p_~9, 2005 ~ the same in his/her/their authorized , ~..~: ...~.~.~~ capacity(les), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WI~'~SS myf,~n~;~fficial seal. 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