HomeMy WebLinkAboutRESOLUTIONS - 08111987 - 87-498 F
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Resolution on August 11 , 1987 by the following vote :
AYES: Supervisors Powers , Fanden, Schroder, Torlakson $ McPeak
NOES: None
ABSENT: None
ABSTAIN: None RESOLUTION NO. 87/498
SUBJECT: Approval of a Substitute Subdivision Agreement ,
Subdivision 6634 , Oakley Area.
The following document was presented for Board approval this
date :
A substitute Subdivision Agreement with First Nationwide
Network Mortgage Company, subdivider , whereby said subdivider
agrees to complete all improvements as required in said
Subdivision Agreement within one year from the date of said
agreement .
Said document was accompanied by the following :
Security to guarantee the on - site road and drainage
improvements for one year as required by Title 9 of the County
Ordinance Code , as follows :
a. Cash deposit (Auditor ' s Deposit Permit No. 112873 ;
dated August 22 , 1986 ) in the amount of $5 , 150 ,
made by United Citizens Mortgage Company.
b . Additional security in the form of a corporate
surety bond dated. July 20 , 1987 , and issued by
Safeco Insurance Company of America ( Bond
No . 5315908 ) with First Nationwide Network
Mortgage Company as principal , in the amount of
$512 ,550 for faithful performance and $258,850 for
labor and materials .
NOW THEREFORE BE IT RESOLVED that said substitute
Subdivision Agreement is APPROVED.
BE IT FURTHER RESOLVED that the Subdivision Agreement with
First Nationwide Network Mortgage Company, as approved by the
Board on September 9 , 1986 , is TERMINATED , the improvement
security bond with Safeco Insurance Company of America is
EXONERATED and the Public Works Director is AUTHORIZED to retain
the cash deposit (Auditor ' s Deposit Permit No. 112873 , dated
RESOLUTION NO. 87/498