58R-4743
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RESOLUTION NO. 4743
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM AUTHORIZING THE DEPOSIT IN ESCROW
. WITH ORANGE COUNTY TITLE COMJ?ANY, BY LANAI
GAlIDENS, mc., OF FUNDS REQUIRED FOR THE FUR-
NISHING, INSTALLATION AND COMPLETION OF ALL
IMPRO'VEM:E.fts REQUIRED BY THE CITY OF ANAHEIM
IN TRACT NO. 2757; AND AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE AN AGREEMENT FOR
AND ON BEHALF OF THE CITY OF ANAHEIM.
WHiREAS, Tenai Gardens, Inc., a corporation, has sub-
mitted to the City Council of the City ot Anaheim a Tract Map
tor Tract No. 2757 and has requested the City Council to finally
approve said Tract Map; and
WHlREAS, said Lanai Gardens, Ino. has 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
!raet No. 2757, as required by the City of Anaheim, acting by and
through the City Engineer and the Superintendent of the Light,
Power and Water Department, and in accordance with the provisions
of the Anaheim Municipal Code and ordinances of the City, all in
accordance with the specifications of the City Engineer and the
Superintendent of the Light, Power and Water Department of the
City of Anaheim, said improvements to be completed on or before
nine (9) months from the lOth day of September, 1957; and
WHRRRAR, in lieu of the posting with the City of Anaheim
of a surety bond or a deposit as required by Section 11'12 ot the
Business and Professions Code of the State of California, Lanai
Gartens, Inc. desires to deposit with the Orange County Title Com-
pany, 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 Lanai Gardens, Inc. will make or cause to be made and
completed said improvements as required by the City of Anaheim, and
pay the cost thereof; and
WHEREAS, the City Council finds that the estimated cost
of said street, sewer and water improvements is the sum of $27,000.00;
and
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WHEREAS, the City Council finds that if said sum is
deposited with said Orange County Title Company and all claims for
labor and materials are approved by the City Engineer and the
Superintendent of the Light, Power and Water Department, and paid
directly to the person, firm or corporation performing such labor
or furnishing such materials by said Orange County Title Company,
and that fifteen (15~) per cent of said deposit is held until
thirty-five (35) days after the filing of notice of completion of
said work and improvements, that the City of Anaheim will be ade-
quately protected in the matter.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Anaheim that said Lanai Gardens, Inc. be, and it is hereby,
authorized to deposit the sum of $27,000.00, lawful money of the
United States, with the Orange County Title Company, as escrow agent,
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as security for the payment of the cost of all labor, materials
and equipment in making the street improvements and the sewer and
water improvements, and all engineering, inside of ~ract No. 2757,
and that the money deposited by said Lanai Gardens, Inc. with said
Orange County Title Company, 421 North Main Street, Santa Ana,
California, as escrow agent, as security for the furnishing and
payment of all labor, materials and equipment required for the
making, installation and completion of said improvements, ~y be
used from and after the execution of an agreement by and between
the City of Anaheim, Lanai Gardens, Inc. and Orange County Title
Company to make progress payments to pay for materials furnished
and labor performed in the making and completion of said improve-
ments, 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 Orange County Title Company to the person, firm or c~rp-
oration furniShing such materials or performing such labor, upon
vri hen itemized statements showing the furnishing of such materials
or the performance of such labor, approved by the City Engineer
for labor and materials furnished for street and sewer improvements,
and approved by the Superintendent of the Light, Power and Water
Department for water mains and lines, and by James L. Bernier, as
agent for Lanai Gardens, Inc.
AND 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 Lanai
Gardens, Inc. and Orange County Title Company, 421 North Main Street,
Santa Ana, California, in a form approved by the City Attorney,
incorporating 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 said agreement shall be dated the 10th day of September,
1958.
THE FOREGOING RESOLUTION is approved and signed by me this
lOth day of September, 1958. '. ~;/" /~~ ~
C~~
MAYOR OF THE CITY ~ ~.~.
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STA.11J 0'. GAL. JFOQIA)
COUNTY OFClJtA1f<E ) s s .
CITY OP JJfAHE Dt ) .
It DENE M. WIUn.. city C~erk of the City of Anaheim,
do herei:ly certify that the fongoiRg Feeso1ution was int'roduciJd ud
adopted at a regular qeeting, provided by law of the City Council
of the City of Anahei. held on the IO~h day of September, 1958,
by the following votes
AYES .:
COUHCIIJIENs Pearson, Fry, Schutte and Coons
NOESs
COUNClIJU!Ns None
TEMPORARI LY AmNT *. COlJ)(CIlJI10h Borden
llilD I PUR~ enrIPY. that the Mayor of the City of
Anaheim approved and signed said' resolution on the lOth.day of
'Septe~rt 1958.
IN WITNESS WHEREOF, I have herel.lJ\to set my hand and affixed
the official seal of the City of Anaheim this lOth day of September,
1958.
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CITY ctmtK OF TIlE CITY O'FAlWUtn
(SEAL)
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