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59R-5455 RESOLUTION NO. 5455 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM AUTHORIZING THE DEPOSIT IN ESCROW WITH CALIFORNIA BANK, ANAHEIM, CALIFORNIA BY CHARLES R. LARAWAY AND ELEANOR M. LARAWAY OF FUNDS REQUIRED FOR THE FURNISHING, INSTALLA- TION AND COMPLETION OF ALL IMPROVEMENTS REQUIRED BY THE CITY OF ANAHEIM IN TRACT NO. 3095; AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AN AGREEMENT FOR AND ON BEHALF OF THE CITY OF ANAHEIM. WHEREAS, Alfred P. Chamie and Elizabeth Chamie have sub- mitted to the City Council of the City of Anaheim a Tract Map for Tract No. 3095 and have requested the City Council to finally approve said Tract Map; and WHEREAS, Charles R. Laraway and Eleanor M. Laraway are purchasing the property covered by said Tract No. 3095 from Alfred P. Chamie and Elizabeth Chamie, said property being in escrow at Bank of America, 1099 Westwood Boulevard, Los Angeles, California, Escrow No. 99-10590-Aj and WHEREAS, said Charles R. Laraway and Eleanor M. Laraway have agreed to furnish or cause to be furnished and to pay for all labor, materials and equipment, and perform or cause to be performed and pay for all work to make and complete all street improvements and sewer and water mains and lines and all engineering required inside of said Tract No. 3095, as required by the City of Anaheim, acting by and through the City Engineer and the Utilities Director, and in accordance with the provisions of the Anaheim Municipal Code and ordinances of the City, all in accordance with the specifica- tions of the City Engineer and the Utilities Director of the City of Anaheim, said improvements to be completed on or before nine (9) months from the 25th day of August, 1959j and WHEREAS, in lieu of the posting with the City of Anaheim of a surety bond or a deposit as required by Section 11612 of the Business and Professions Code of the State of California, Charles R. Laraway and Eleanor M. Laraway desire to deposit with the California Bank, Anaheim Office, Anaheim, California, as escrow agent, cash, in lawful money of the United States, in an amount estimated to be necessary to pay for the cost of all labor, materials and equipment and the performance of all work for the installation and completion of said improvements, as a guarantee that said Charles R. Laraway and Eleanor M. Laraway will make or cause to be made and completed said impr.ovements as required by the City of Anaheim, and pay the cost thereof; and WH8REAS, the City Council finds that the estimated cost of' said street, sewer and water improvements is the sum of $95,000.00j and WHER~~S, the City Council finds that if said sum is deposited with said California Bank, Anaheim Office, Anaheim, California and all claims for labor and materials are approved by Charles R. Laraway and Eleanor M. Laraway, or their authorized agent, and paid directly to the person, firm or corporation per- forming such labor or furnishing such materials by said California Bank, Anaheim Office, Anaheim, California, and no progress payments are made until the City Engineer has certified to the percentage of -1- - ...... completion of work on said improvements, and that 15% of said deposit is held until thirty-five (35) days after the filing of notice of completion of said work and improvements, or in the event of failure to file a notice of completion, until ninety (90) days after certification of completion by the City Engineer, that the City of Anaheim will be adequately protected in the matter. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Anaheim that said Charles R. Laraway and Eleanor M. Laraway be, and they are hereby, authorized to deposit the sum of $95,000.00, lawful money of the United States, with California Bank, Anaheim Office, Anaheim, California, as escrow agent, as security for the payment of the cost of all labor, materials and equipment in making the street improvements and the sewer and water improve- ments, and all engineering, inside of Tract No. 3095, and that the money deposited by said Charles R. Laraway and Eleanor M. Laraway with the California Bank, Anaheim Office, Anaheim, California, as escrow agent, as security for the furnishing and payment of all labor, materials and equipment required for the making, installa- tion and completion of said improvenents, may be used from and after the execution of an agreement by and between the City of Anaheim, Charles R. Laraway and Eleanor M. Laraway and California Bank, Anaheim Office, Anaheim, California to make progress payments to pay for materials furnished and labor performed in the making and completion of said improvements, such progress payments to be made as follows: Progress payments shall be made not oftener than twice monthly, and in the manner herein provided. That all such progress payments shall be made directly by said California Bank, Anaheim Office, Anaheim, California to the person, firm or corporation furnishing such materials or performing such labor, upon written itemized statements showing the furnish- ing of such materials or the performance of such labor, approved by Charles R. Laraway and Eleanor 1':. Laraway or their authorized agent; but no progress payments shall be made until the City Engineer has certified to the percentage of completion of work on the improve- ments, and s&id progress ps.ymEmts shall te lirrli ted to 85% of the amount of the deposit which is represented by the percentage of im- provenlents which have been completed and certified as completed by the Ci t:r Engineer. BE IT FURTHER RESOLVED that the Mayor and the City Clerk be, and they are hereby, authorized to enter into and execute an agreement for and on behalf of the City of Anaheim with Charles R. Laraway and Eleanor M. Laraway and California Bank, Anaheim Office, Anaheim, California, in a form approved by the City Attorney, in- corporating the provisions of this resolution and providing for payment of said deposit to the City of Anaheim, or so much thereof as may be necessary to reimburse the City, in the event of default by said above named corporation in the performance of said agree- ment. That sai~ agreement shall be dated the 25th day of August, 1959. ,,----. THE tbis 25th day FOREGOING RESOLUTION is approved and signed by of August, 1959. ~, (, 8~ MAYO F Jm CITY . me AT~T: ~~~F ~. C:..--- , T~C~m -2- .,..-, STATE OF CALIFORNIA}. COUNTY OF ORANGE ss. CITY OF ANAHEIM I, DENE M. WILLIAMS, City Clerk of the City of Anaheim, do hereby certify that the foregoing Resolution No. 5455 was introduced and adopted at a regular meeting provided by law, of the City Council of the City of Anaheim, held on the 25th day of Aqut, 195' by the following vote of the members thereof: AYES: COUNCILMEN: Bordo, Cooas, Frr, Pearson ud Scutt.. NOES: COUNCILMEN: lODe. ABSENT: COUNCILMEN: I.... AND I FURTHER CERTIFY that the Mayor of the City of Anaheim ap- proved and signed said Resolution No 5455 on the 25th day of A..,..t, 1"'. . IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Anaheim this 25th day of A.....t, 1'''. ~ hr.=:V-~ CITY CLERK OF THE CITY OF ANAHEIM (SEAL)