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CC Resolution No. 9675 RESOLUTION NO. 9675 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO AUTHORIZING EXECUTION OF IMPROVEMENT AGREEMENT BETWEEN THE CITY AND DEVELOPER FORGE-HOMESTEAD LIMITED, HOMESTEAD ROAD AT FRANCO COURT WHEREAS, there has been presented to the City Council, a proposed improvement agreement between the City of Cupertino and developer Forge-Homestead Limited, for the installation of certain municipal improvements on Homestead Road at Franco Court, and said agreement having been approved by the City Attorney, and Developers 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 5th day of August, 1996, by the following vote: Vote Members of the City Council AYES: Bautista, Chang, Dean, Sorensen, Burnett NOES: None ABSENT: None ABSTAIN: None ATTEST: APPROVED: Ci~~ s?~a~ C~~upe~no~ Mayor, City of EXHIBIT A SCHEDULE OF BOND, FEES AND DEPOSITS DEVELOPMENT: Apartments Forge-Homestead Limited LOCATION: Homestead Road at Franco Court A. Faithful Performance Bond: $198,405.00 ONE HUNDRED NINETY-EIGHT THOUSAND FOUR HUNDRED FIVE & 00/100 DOLLARS B. Labor and Material Bond: $198,405.00 ONE HUNDRED NINETY-EIGHT THOUSAND FOUR HUNDRED FIVE & 00/100 DOLLARS C. Checking and Inspection Fee: $ 3,320.25 THREE THOUSAND THREE HUNDRED TWENTY & 25/100 DOLLARS D. Indirect City Expenses: N/A E. Development Maintenance Deposit: $ 3,000.00 THREE THOUSAND & 00/100 DOLLARS F. Storm Drainage Fee: Basin 3 $ 2,667.34 TWO THOUSAND SIX HUNDRED SIXTY-SEVEN & 34/100 DOLLARS G. One Year Power Cost: 225.00 TWO HUNDRED TWENTY-FIVE & 00/100 DOLLARS H. Street Trees: By Developer I. Map Checking Fee: N/A J. Park Fee: Zone I $383,179.89 Acct #: 480-416-011 THREE HUNDRED EIGHTY-THREE THOUSAND ONE HUNDRED SEVENTY-NINE & 89/100 DOLLARS K. Water Main Reimbursement Fee: N/A L. Maps and/or Improvement Plans: As specified in Item 23 of Agreement TRAFFIC LIGHT REIMBURSEMENT: $ 21,420.00