CC Resolution No. 3991
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RESOLUTION N0. 3991
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION OF QUIT CLAIM OF RIGHTS UNDER AGREE-
MENT WITH VALLCO PARK LTD. AND EXECUTION OF AGREEMENTS
WITH VALLCO PARK LTD. CONCERNING THE WOLFE ROAD UNDER-
CROSSING AND INSTALLATION OF DEFERRED IMPROVEMENTS
WHEREAS, the terms and conditions of certain agreements between the City
of Cupertino and Vallco Park Ltd. have been presented to the City Council; and
WHEREAS, the terms and conditions thereof have been approved by the City
Attorney,
NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are hereby
authorized to execute the following agreements;
(1) An instrument whereby the City of Cupertino shall quit claim and
release to Vallco Park Ltd., all of its rights, title and interests under the
Agreement entered into by said parties on March 17, 1975, and recorded on
April 17, 1975, in the Official Records of the County of Santa Clara, State of
California, in Book B 366 page 115, and the Agreement entered into by said
parties on June 2~ 1975, and recorded on June 26, 1975, in the Official Records
of the County of Santa Clara, State of California, in Book B 484 page 142,
insofar as both of said agreements relate to real property of Vallco Park
Ltd., situated to the West of, over Wolfe Road and approximately 37.5 feet to
the East of Wolfe Road, on condition that such quit claim instrument may be
recorded as a part of the construction and permanent loan escrows which Vallco
Park Ltd. has opened with First National City Bank and Teachers Insurance and
Annuity Association of America, respectively, only if:
(a) A separate agreement between the City and Vallco Park Ltd.
is recorded prior to the recordation of the construction and
permanent loan trust deeds which Agreement shall incorporate
Vallco's existing commitments with respect to maintenance, repair,
relocation etc. of the Wolfe Road undercrossing under paragraph
3 of the Agreement dated June 2, 1975, referred to in paragraph (1)
above; and, .
(b) On the day following the recordation of the construction
and permanent loan trust deeds there is recorded an agree-
ment between the City and Vallco Park Ltd., which incorporates
all of the provisions of both of the Agreements referred to in
paragraph (1), above, except those provisions relating to the
maintenance, repair, relocation etc. of the Wolfe Road under-
crossing, as set forth in paragraph 3 of the Agreement dated June
2~ 1975, referred to in paragraph (1), above.
PASSED AND ADOPTED at a regular meeting of the City Council of the City
of Cupertino this 4th day of August, 1975, by the following vote:
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Resolution No. 3991
Vote Members of the City Council
AYES: Frolich, Meyers, Nellis, Sparks, Jackson
NOES: None
ABSENT: None
ABSTAIN:None
APPROVED
/s/ James E. Jackson
Mayor, City of Cupertino
ATTEST:
/s/ Wm. E. Ryder
City Clerk
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