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CC Resolution No. 98-281RESOLUTION/NO. 98-281 A RtSSOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO AUTHORIZING EXECUTION OF IMPROVEMENT AGREEMENT BETWEEN THE CITY AND DEVELOPER SHUN-LUNG CHA0 AND WA-LEE Y1NN CHA0, 22464 PALM AVENUE, APN 357-04-070 WHEREAS, there has been presented to the City Council a proposed improvement agreement between the City of Cupertino and developer, Shun-Lung Chao and Wa-Lee Yinn Chao, for the installation of certain municipal improvements at 22464 Palm Avenue and said agreement having been approved by the City Attorney, and Developer having paid the fees as outlined in the attached Exhibit A; NOW, THEREFORE, BE IT RESOLVED THAT the Mayor and the City Clerk are hereby authorized to sign the aforementioned agreement on behalf of the City of Cupertino. PASSED AND ADOPTED at a regular meeting of the City Council of the City of Cupertino this 16~ day of November, 1998, by the following vote: Vote Members of the City Council AYES: NOES: ABSENT: ABSTAIN: BURNETT, DEAN, JAMES, STATTON, CHANG NONE NONE NONE ATTEST: City Clerk Resolution No. 98-281 Page 2 EXHIBIT "A" SCHEDULE OF BOND, FEES, AND DEPOSITS DEVELOPMENT: Single Family Home Shun-Lung Chao and Wa-Lee Yinn Chao LOCATION: 22464 Palm Avenue A. Faithful Performance Bond: Off-site: $11,000.00 On-site: $14,000.00 ELEVEN THOUSAND AND 00/100 DOLLARS B. Labor and Material Bond: $11,000.00 ELEVEN THOUSAND AND 00/100 DOLLARS C. Checking and Inspection Fees: $ 1,975.00 ONE THOUSAND NiNE HUNDRED SEVENTY-FIVE AND 00/100 DOLLARS D. Indirect City Expenses: N/A E. Development Maintenance Deposit: $ 1,000.00 ONE THOUSAND AND 00/100 DOLLARS F. Storm Drainage Fee: Basin #2 $ 372.00 THREE HUNDRED SEVENTY-TWO AND 00/100 DOLLARS G. One Year Power Cost: $ 75.00 SEVENTY-FIVE AND 00/100 DOLLARS H. Street Trees: By Developer I. Map Checking Fee: N/A J. Park Fee: $15,750.00 FIFTEEN THOUSAND SEVEN HUNDRED FIFTY AND 00/100 DOLLARS K. Water Main Reimbursement: N/A L. Maps and/or Improvement Plans: As specified in Item #23 of agreement