00-024 impr. agrmnt. 10225 S. Blaney AveAGREEMENT
10225 S. Blaney Avenue
APN 369-32-009
This AGREEMENT made and entered into this ~ day of ~, 199, by and between
the CITY OF CUPERTINO, a municipal corporation of the State of Califomsz, herei,-~a_~ter
designated as CITY, and Kevin L. Su, Sandy Su and Tony L. Su, hereinafter designated as
I~EVEI..OPER.
~,'ITNE~,SETH
~;jri"EREAS, THE DEVELOPER has made applicatiari to the %IT'Y to S~:CLiRE A
BITILDING PERMIT to construct Single Famih~ Home hereinafter referred to as "Project".
~NHEREAS, CIT~c' hereby approves the improvement plans and specifications prepazed for
the Project by Lee Engineers a true copy of which improvement plans and specifications are on
file in the office of the City Engineer of Cupertino; and
WHEREAS, the same are incorporated here~.n by reference, the same as though set out in
full;
NOW, THEREFORE, said improvement pl<<ns and specifications shall_ be hereinafter
called the "Plans", and the work to be done under':he Plans shall be called the "Work".
Page I .if 11
File No.: 52,220
WHEREAS, pursuant to the provisions of this AGREEMENT, the CITY hereby established the
amounts of Bonds, Fees, and Deposits as set forth in the following schedule:
SCHEDULE OF BONDS, FEES AND DEPOSITS
Street Improvement Category:
PART A. Faithful Performance Bond: Off-site: $ 6,600.00
110-2211 On-site: $ 1,000.00
f'AR'I' B. Labor and Material Bond: $ 6,600.00
110-2211
PART C. Checking and Ii~spectir~n Fee: $ 1,975.00
110-4538
PART D. Indirect City Expenses: N/A
PART E. Development Maintenance Deposit: $ 1,000.00
110-2211
PART F. Storm Drainage Fee: Basin 3 $ 271.00
Account #: 215-4073
PART G. One Yeaz Power Cost: N/A
110-4537
PART H. Street Trees: By Developer
PART I. Map Checking Fee: N/A
110-4539
PART J. Park Fee: ZONE I N/A
ACCT #: 280-4081
PART K. Water Main Reimbursement Fee: N/A
110-4554
PART L. Maps and/or Improvement Plans
As Specified in Item #23
Page 2 of 11
NOW, THEREFORE, IT IS HEREBY MU'l['UALLY AGREED by and between the parties
hereto as follows, TO WIT:
1. DEDICATION
A. The DEVELOPER offers to dedicate: the real property shown on Exhibit "A",
which is attached hereto and made a part hereof by reference. Said dedicated property
shall be free and cleaz of all liens or encumbrances except those which the CITY shall
waive in writing. The DEVELOPER agrees not to revoke said offer of dedication, and to
keep said offer open until the CIT4' accepts offer by resolution.
B. Upon execution of this AGREEMENT the DEVELOPER agrees to deliver a
properly executed grant deed to fife CITY ol.'the real property described in Exhibit "A",
and such other executed conveyances, or instruments necessary to convey cleaz title as
herein required. The DEVELOPER shall provide, at the DEVELOPER'S sole cost and
expense, to the City:
(1) A preliminary title report issued by a title insurance company relating to the
property offered for dedication.
(2 A standard policy of title insurance issued by a title insurance company and
insuring the CITY in the sum. of: N/A, and which shall show said property
free and clear of all liens or encumbrances except those as the CITY shall
expressly waive in writing; s~iid policy shall be furnished at the time of
acceptance of dedication and recordation of deed.
C. Upon the condition precedent that the DEVELOPER shall perform each and every
covenant and condition of this AGREEMEI`1T, the CITY agrees to accept said real
property offered for dedication.
2. INSTALLATION OF WORK
It is further agreed that:
A. The DEVELOPER shall install and complete the Work within one (1) year from the
date of execution of this AGREEMENT, or such longer period as may be specifically
authorized in writing by the City Engineer. In the event the DEVELOPER fails or refuses
to complete the Work within the specified period of time, the CITY, at its sole option, shall
be authorized to complete the Work, in wharever manner the CITY shall decide. In the
event the CITY completes the Work, the CITY may recover any and all costs incurred
thereby from the DEVELOPER or the DEVELOPER'S surety or both.
B. The DEVELOPER shall install and complete the Work in a good and workmanlike
manner in accordance with the plans as approved by the City Engineer of Cupertino. The
Work shall be done in accordance with existing ordinances and resolutions of the CITY
Page 3 of I 1
and in accordance with all plans, specificatiions, standazds, sizes, lines, and grades
approved by the City Engineer. The Work shall be done in accordance with all State and
County Statutes applicable hereto. The decision of the City Engineer shall be final as to
whether any material or workmanship meets the standazds, specifications, plans, sizes lines
and grades as set forth.
C. It is further agreed that the Work shall be done in accordance with the most current
Standard Specifications of the Department of Public Works, California Department of
Transportation, State of California, and in accordance with the specifications of the
Cupertino Sanitary District where applicable.
Wherever the wards "State" or "California Division of Highways" are mentioned in the
State Specificatio mss, it shall be considered ~~s referring to the CITY of Cupertino; also
wherever the "Director" or "Director of Put~lic Works" is mentioned, it shall be considered
as referring to the City Engineer.
In case of conflict between the State Specifications and the specifications of the CITY,
and/or the Cupertino Sanitary District, the specifications of the CITY and/or the Cupertino
Sanitary District shall take precedence over and be used in lieu of such conflicting
portions.
3. EXCAVATION PERMIT
It is further agreed that the DEVELOPER :;hall comply with Section Three of Ordinance
No. 130 of the CITY by obtaining an excavation permit from the City Engineer before the
commencement of any excavation in, on, or under the surface of any existing public street,
lane, alley, sidewalk, or other public place. It is further agreed that the DEVELOPER shall
notify the City Engineer of the exact date and time when the proposed excavation is to
commence.
4. QUITCLAIM DEED
It is further agreed that the DEVELOPER, when requested by the CITY, shall quitclaim all
his rights and interests in, and shall grant to CITY authorization to extract water from the
underground strata lying beneath said proje~;t and DEVELOPER agrees to execute a
"Quitclaim Deed and Authorization" in favor of CITY, when presented to him for
signature.
5. BONDS AND OTHER SECURITY
A. Upon the execution of this AGREErriENT, the DEVELOPER shall file with the +•
CITY a faithful performance bond to assure his full and faithful performance of this
AGREEMENT. The penal sum of said faithful performance bond shall be the full cost of
any payment to be made under this AGREEMENT, the value of any land agreed to be
Page 4 of I 1
dedicated, and any improvements aze to be made under this AGREEMENT. In the event
that improvements aze to be made under this AGREEMENT, the DEVELOPER shall, in
addition to said faithful performance, file with the CITY a labor and materials bond in a
penal sum adequate to assure full payment of all labor and materials required to construct
said improvements. The amount of said bo~ids shall be as designated by the City Engineer.
Said bonds shall be executed by a surety company authorized to transact a surety business
in the State of California and must be approved by the City Attorney as to form and by the
City Engineer as to sufficiency. In the event that the DEVELOPER shall fail faithfully to
perform the covenants and conditions of this AGREEMENT, or. to make any payment, or
any dedication of land, or any improvements herein required, the CITY sriall call on the
surety to perform this AGREEMENT or otl-erwise indemnify the CITY for the
DEVELOPER'S failure to so do.
B. In lieu of a surety bond, the DEVELOPER may elect to secure this AGREEMENT
by depositing with the CITY:
1. Cash; or,
2. A cashier's check, or a certified check payable to the order of the City of
Cupertino; or,
3. A certificate of deposit, or instrument of credit meeting the requirements of
Government Code Section 65499 (b) or (c).
C. The amount of said cash, checks, certificate of deposit, or instrument of credit shall
be as designated by the City Engineer, and :hall be the equivalent to that which would have
been required had the DEVELOPER furnished the CITY with a surety bond. In the event
that the DEVELOPER shall fail faithfully t~~ perform the covenants and conditions of this
AGREEMENT, or to make any payment, or any dedication of land, or any improvements
herein required, the CITY may apply the pr~~ceeds of said security thereto.
D. No release of surety bond, cash deposit, check, or certificate of deposit, shall be
made except upon approval of the City Council.
1. Schedule for bond and insur~mce release for paper bonds are as follows:
A. Release of 90 percent of the faithful performance bond
upon acceptance by Cit}~ Council
B. Release of tike remaining 10 percent of the performance
bond at one yeaz from a~~ceptance after all deficiencies have been
corrected and in the absence of any claim against such bond.
C. Release of the entire labor and material bond at six months
from acceptance after all deficiencies have been corrected and in the
absence of any claim against such bond.
Page S of 11
D. Liability insurance, provided by the developer to hold the City
harmless in the event of liability arising from the project, to be retired
at the end of one year if ~tll deficiencies have been corrected and in the
absence of any claim against such insurance.
2. Schedule for Bond and Insur~mce Release for Cash, CD, Set-Aside Letter
are as Follows:
A. Release of 4`>% of bond upon acceptance by City Council.
B. Release of additional 45C/° at six months from acceptance
after all deficiencies havE; been corrected and in the absence of any
claim against such bond.
C. Release of remaining 10% at one year from date of
acceptance after all deficiencies have been corrected and in the absence
of any claim against sucl•~ bond.
D. Release of the liability insurance, provided by the developer or
contractor to hold the City harmless in the event of liability arising
from the subject project, at the end of one year if all deficiencies have
been corrected and in the absence of any claims against such insurance.
E. No interest shall be Maid on any security deposited with the CITY.
6. CHECKING AND INSPECTION FEE
It is further agreed that DEVELOPER shall lay any and all necessary direct expenses for
inspection, checking, etc., incurred by CITY in connection with said Project, and that
DEVELOPER shall have deposited with CITY, prior to execution of this AGREEMENT,
the amount as set forth herein at Page 2 (Pan: C.). Should construction cost vary materially
from the estimate from which said sum is calculated, the City Engineer shall notify
DEVELOPER of any additional sum due an~i owing as a result thereof.
7. INDIRECT EXPENSES
It is further agreed that DEVELOPER shall lay to CITY, prior to execution of this
AGREEMENT, indirect expense allocable to processing these improvements, the amount
as set forth herein at Page 2 (Part D).
Page 6 of 11
MAP CHECKING FEE
It is further agreed that the DEVELOPER shall deposit with CITY, prior to execution of
this AGREEMENT, for office checking of :final map and field checking of street
monuments, in compliance with Section 4:1 of Ordinance No. 47 (Revised 12/04/61) of
CITY, the amount as set forth herein at Page: 2 (Part I).
9. DEVELOPMENT MAINTENANCE DEPOSIT
It is further agreed that the DE`1ELOPE.R shall pay to the CITY, prior to execution of this
AGREEMEN'T', the amount set forth herein at Page 2 (Part E) as a development
maintenance deposit to insure proper dust control and cleaning during the construction
period. The developiz~.iit maintenance deposit may be utilized for repairs of defects and
imperfections azising out of or due to faulty workmanship and/or materials appearing in
said work during the period until release of the surety bonds or other security permitted
under pazagraph S.B by the CITY.
Should the DEVELOPER complete the regL~ired repairs to the entire satisfaction of the
CITY, the unused balance will be returned after the release of the surety bond or other
security permitted under paragraph S.B.
10. STORM DRAII~TAGE FEE
It is further agreed that the DEVELOPER sl•~all deposit with the CITY, prior to execution
of this AGREEMENT, a storm drainage charge in connection with the said Project in
accordance with the requirements established in Resolution 4422, March 21, 1977, in the
amount as set forth herein at Page 2 (Part F).
11. WATER MAIN EXTENSION DEPOSIT
The DEVELOPER further agrees to deposit with the CITY those monies required to
comply with "Policy on Water Main Extensions Work and Deposits" dated 9/30/77. The
deposit shall be held by the CITY until said monies are needed to implement
improvements outlined by the Director of Public Works or improvements outlined within
the adopted Water Master Plan.
The amount shown herein at Part K, Page 2, shall be the full amount due.
12. ONE YEAR POWER COST
It is further agreed that the DEVELOPER shall pay to the CITY prior to execution of this
AGREEMENT, the amount as set forth herein at Page 2 (Part G), which amount represents
the power cost for street lights for one yeaz.
Page 7 of 11
13. THE INSTALLATION OF STREET TREES
It is further agreed that the DEVELOPER shall, at such time as deemed appropriate by the
City Engineer, plant street trees in conform~mce with the standards of the City of
Cupertino. Variety of tree shall be selected from the City approved list.
14. PARK FEES
It is fizrther agreed that the DEVELOPER s}iall pay such fees and/or dedicate such land to
the CITY, prior to execution, as is required ~~it,.tn Jec;tioii a8-1.602 Park Land Dedication,
Cupertino Municipal Code, and which. is fw~ther stipulated under Fart J, Page 2 herein.Fees
are also in accordance with action adoptEd try the City Council on March 19, 1991 and
Chapter 14.05 or Section 18•• 1.602 of the Cupertino *Y1~;rLcipal Code.
1 S. MAINTENANCE OF WORK
It is further agreed that the DEVELOPER shall maintain the Work until all deficiencies in
the Work are corrected to conform to the Pl~~.ns and the City Standards and Specifications
for the Work. The DEVELOPER shall, upon written notice thereof, immediately repair or
replace, without cost or obligation to the City of Cupertino, and to the entire satisfaction of
said CITY, all defects and imperfections arising out of or due to faulty workmanship
and/or materials appearing in said Work.
16. SANITARY DISTRICT
It is further agreed that the DEVELOPER shall file with CITY, upon execution of this
AGREEMENT, a letter from the Cupertino Sanitary District stating that the DEVELOPER
has entered into a separate AGREEMENT with the said District to install sanitary sewers
to serve all lots within said Project and stating that a bond to insure full and faithful •
performance of the construction of the said ;sanitary sewers and to insure maintenance of
said sanitary sewer in conformance with the provisions as set forth in Paragraph I S above
has been filed.
17. GOVERNMENT CODE
It is further agreed that DEVELOPER shai.l file with CITY, upon execution of this.
AGREEMENT, substantial evidence that gill provisions of Section 66493, Article 8,
Chapter 4 of the Government Code, pertaining to special assessments or bonds, have been
complied with.
18. CENTRAL FIRE DISTRICT
It is further agreed that the DEVELOPER shall file with the CITY, upon execution of this
AGREEMENT, a letter from the Central Fire Protection District of Santa Clara County,
Page 8 of 11
stating that the DEVELOPER has entered into an AGREEMENT with said District to
install fire hydrants to serve said Project aJnd stating that all necessary fees have been
deposited with said District to insure installation and five (5) year rental fee of said
hydrants.
19. PACIFIC GAS AND ELECTRIC/PACIFIC l3ELL
It is further agreed that the DEVELOPER shall pay to Pacific Gas and Electric Company
andlor to PACIFIC BELL Company any and all fees required for installation of overhead
and/or underground wiring circuits to all electroliers within said property and any and ali
fees required for undergrounding as provided in Ordinance No. 331 of CITY when
DEVELOPER is notified by either the City Engineer or the Pacific Gas and Electric
Company and/or Pacific Bell Company that said fees are due and payable.
20. EASEMENTS AND RIGHT-OF-WAY
It is further agreed that any easement and right-of--way necessary for completion of the
Project shall be acquired by the DEVELOPER at his own cost and expense.
It is provided, however, that in the event eminent domain proceedings are required the
CITY for the purpose of securing said easement and right-of--way, that the DEVELOPER
shall deposit with CITY a sum covering tree reasonable market value of the land proposed
to be taken and to be included in said sum shall be a reasonable allowance for severance
damages, if any. It is further provided that in addition thereto, such sums as may be
required for legal fees and costs, engineering, and other incidental costs in such
reasonable amounts as the CITY may regL~ire shall be deposited with the City of
Cupertino.
21. HOLD HARMLESS
It is further agreed that, commencing with the performance of the Work by the
DEVELOPER or his contractor and continuing until the completion of the maintenance of
the Work, the DEVELOPER shall indemnify, hold harmless and defend the CITY from
and against any or all loss, cost, expense, d2unage or liability, or claim thereof, occasioned
by or in any way whatsoever arising out of the performance or nonperformance of the
Work or the negligence or willful misconduct of the DEVELOPER or the DEVELOPER'S
agents, employees and independent contractors, except to the extent any of the foregoing is
caused by the negligence or willful misconduct of the CITY or the CITY's agents,
employees and independent contractors.
22. INSURANCE
It is further agreed that: The DEVELOPER. shall take out, or shall require any contractor
engaged to perform the work to take out, and maintain at all times during the performance
Page 9 of 11
and maintenance of the work called for or required to be done hereunder, a policy of
insurance naming the CITY and members of the City Council of the City of Cupertino
individually and collectively, and the officers, agents and employees of the CITY
individually and collectively, as insured. Spud separate policy shall provide bodily injury
and property damage coverage to the foregoing named CITY and individuals covering all
the Work perfonned by, for, or on behalf of said DEVELOPER. Both bodily injury and
property damage insurance must be on an o~~currence basis; and said policy or policies
shall provide that the coverage afforded thereby shall be primary coverage to the full limit
of liability stated in the declarations, and if ~khe city, its members of the City Council
individually and collectively, and the officers, agents, and employees of the CITY,
individually and collectively, have other insurance against the loss covered by said policy
or policies, that other insurance shall not be called upon to cover a loss under said
additional policy.
The insurance carrier shall provide proof of their ratings. All ratings shall be a minimum
of "Best A-7" in accordance with ABAG policies.
A. Each of said policies of insurance shall provide coverage in the following minimum
amounts: For bodily injury, $100,000 each person; $300,000 each occurrence, property
damage, $50,000 on account of any one occurrence with an aggregate limit of not less than
$200,000.
B. The DEVELOPER shall file with thy: City Engineer at or prior to the time of
execution of this AGREEMENT by the DEVELOPER such evidence of said foregoing
policy or policies of insurance as shall be satisfactory to said City Engineer. Each such
policy or policies shall bear an endorsement precluding the cancellation or reduction in
coverage without giving the City Engineer apt least ten (10) days advance notice thereof.
The CITY shall be shown as additionally in:~ured on a separate "Additional Insured
Owners, Lessees or Contractors" (Form A) ~~r (Form B) Endorsement provided along with
the evidence of said foregoing policy of policies of Insurance
C. In the event that the Project covered herein should be mutually situated in or affect
the area of jurisdiction of a separate municipality or political subdivision of the State of
California, the policies of insurance required herein and above shall co-name such
municipality or political subdivision and the: provision set forth herein and above for the
protection of the CITY shall equally apply t~~ municipality and political subdivision.
23. MAPS AND/OR IMPROVEMENT PLAN~~
It is further agreed that the CITY shall obtain the following map and/or plans at the
DEVELOPER'S expense:
A. A mylar sepia and seven (7) :prints of fully executed parcel map.
Page 10 of 11
B. A mylaz sepia and ten (10) F~rints of fully executed improvement plans.
C. A direct duplicating silver negative microfilm aperture cazd of all executed
improvement plans and map.
The DEVELOPER agrees to pay the CITY from the development maintenance deposit the
cost for all prints of plans and map required under Item 23.
24. SUCCESSORS
~ pus AGREEMENT shall bind the heirs, administrators, executor, successor, assi~ee and
transferees of the DEVELOPER. The assil~unent of this AGREEMENT shall not be
::Wade witl?otlt approval by the City Council of the City of Cupertino.
IN WITNESS WHEREOF, CITY has caused its name to be hereunto affixed by its Mayor
and City Clerk, thereunto duly authorized by resolution of the City Council and said
DEVELOPER has hereunto caused his name to l;e affixed the day and year first above written.
CI F CUPERTINU:
Approved as to form: ~~
s~'~, ~
~.
Mayor
ity Attorney City Cl
DEVELOPER:
.~
Kevin L. Su
f~ ~.__
Sandy Su
Notary Acknowledgment Required
Exhibit A Attached
ony L. Su
Page 11 of 11
ALL-PURP O SE; ACKN OWLED GMENT
State of California ~ •
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County of •
On ~~~~~~ ~l l ~ C ~ before me, 't '/N1(O/TAA`R
i (DATE) -~ (~ :~ ~~~
personally appeared sIGNEA(s>
• ^ personally known to me - OR- proved to me on the basis of satisfactory
evidence to be the person(s) whose name(s) •
• is/are subscribed to the within instrument and '
' acknowledged to me that he/she/they executed •
• the same in his/her/their authorized '
• = COMM. 1228060 ~ capacity(ies), and that by his/her/their
p NOTARY PUBLIC -CALIFORNIA l1 `
` ~ SANTACLARACOUNTY signature(s) OII the instrument the person(s), 1
' ~ . My Comm. Expires July 14, 2003.
or the entity upon behalf of which' the •
person(s) acted, executed the instrument. '
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• .. ,1,nr, ~22soso ~ WITNESS y hand and official seal.
I ~'~ ' :;! PU6UC • CALIFORNIA
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I NOTARY'S SIGNATURE •
•
OPTIONAL INFORMATION •
• The information below is not required by law. However, it could prevent fraudulent attachment of this aclmowl-
edgment to an unauthorized document. •
CAPACITY CLAIMED BY SIGNER (PRINCIPAL) DESCRIPTION OF ATTACHED DOCUMENT
• INDIVIDUAL ~~ ~ ~
^ CORPORATE OFFICER ~ ~-,~~y" ~y/V'" •
OR TYPE OF DOCUMENT
rrrLE(s) •
• ^ PARTNER(S) '
' ^ ATTORNEY-IN-FACT ~, I •
• NUMBER OF PAGES '
^ TRUSTEE(S)
• ^ GUARDIAN/CONSERVATOR •
^ OTHER: ~ C`
~ ~ ~ ~~~ •
~ ~
' DATE OF DOCUMENT •
• I
SIGNER IS REPRESENTING: •
• NAB OF PERSON(S) OR ENTfrY(IES)
' OTHER •
•
APA 1/94 VALLEY-SIERR?., 800-362-3369
~Alashington Mutual Bank,FA FDIC Insured
DISCLOSURE -- CERTIFICATE OF DEPOSIT ONE' YEAR OR LESS
THIS DOCUMENT NEED NOT BE PRODUCED FOR THE CUSTOMER TO RECEIVE PAYMENT OF PRINCIPAL OR INTEREST.
NON-NEGOTIABLE
NON-TRANSFERABLE, AS DEFINED IN 12 CFR PART 204
CUSTOMER NRMEIAPID CAPACITY
CTI'1' 4F CU)'ERTINO
OPEMNG DATE ACCOUNT NUMBER 'INITIAL pRINCfPAE.I~MOUE~Fr fNl7tkbTERM
becemt>er ~0 1999: '' I77-0013327571 ' 7,600.04 6 MQN`t'HS
Jug 2o,'zaao
Maturity: Your account will mature. on (the "maturity date }.
Rate nformatloh: The interest rate on your account is 5.22 % with an ennual percentage yield of 5 35 %.
You will be paid this gate until the maturity-date stated above; provided that the Bank at its d~screttan may offer you the Bump-bate
featuFe described below, and if this optiart is offered and you exercise it, the above interest rate and annual percentageyield wiH
change.
InterestPaymertt Options; Interest o~ year account (during the Initial and any renewal term) v~ll'be paldin the falEowng manner:
® PAfD MONTHLY ~> ^-TOAGC4Uf~T ^ CH>=CK TU aW1VER
^ DEI=ERRED ^ TRANSFERRED TO:
- Far Bank Use C>nty
Rate Information:
If you select monthly payments of interest, you may change the manner of future payments at any time without penalty. The annual
percentage yield assumes interest remains on deposit until maturity. F, withdrawal will reduce earnings.
Interest begins to accrue on the business day you deposit noncash items (for example, checks).
If you select monthly interest payments, interest for your account will be compounded and credited monthly. If you select deferred
payments, interest for your account will not be compounded.Refer to the Account Disclosures and Regulations.
Bump-Rate Feature: If the Initial Term of your account was designated in the box above to include the Bump-Rate Feature, then you
have the option of changing the interest rate once, at any time during the Initial Term, to the Bank's then-current interest rate on
certificates of deposit of this type and with a term equal to your Initial Term. Once you use this Bump-Rate option, the then-current
rate will be the rate on your account for the remainder of the Initial Term. Your annual percentage yield will change accordingly if you
exercise this option.
Minimum Balance Requirements: You must deposit a minimum of 91,000 to open this account, or a $5,000 minimum deposit in the
case of a one-month term, unless waived for a specific program we offer.
You must maintain a minimum balance of $1,000 ($5,000 for aone-month term), unless waived for a specific program, in the
account each day to keep the account open and to obtain the annual percentage yield listed above.
Balance Computation Method: We use the daily balance method to calculate the interest on your account. This method applies a
daily periodic rate to the principal in the account each day.
Transaction Limitations: After the account is opened, you may not make withdrawals of principal from the account until the
maturity date without being charged a penalty.
Grace Period: You have a Grace Period of ten calendar days afte• the maturity date or after the maturity of any renewal term
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Period, the interest paid on the withdrawn funds between the maturity date (or renewal maturity date, as applicable) and the
date of withdrawal will be reduced to the Statement Savings Accouunt rate offered at the time of the withdrawal. You also may
increase the amount in your account by any amount during the Grace Period.
Add-On Feature -Deposits Outside the Grace Period: You mar make deposits of at least $100 at any time during the term,
provided that the aggregate amount deposited for any term does not exceed the Original Principal Balance for that term,
unless waived for a specific program. The Original Principal B~dance (a) for the Initial Term is the Initial Principal Amount
above and (b) for any subsequent term, is the amount in the account at the end of the previous term plus deposits and minus
withdrawals during the Grace Period.
Early Withdrawal Penalty: We will impose a penalty if you withdraw any of the principal before the maturity date. The fee imposed
will equal 90 days simple interest (whether or not paid or earned) on the amount withdrawn. Payment of the penalty will be made at
the time of the withdrawal as a deduction from either the amount withdrawn or the account's remaining principal balance at our option.
Interest credited to the account may be withdrawn without penalty. However, interest credited to the account and not withdrawn prior
to the maturity date will be considered principal at renewal.
Early Withdrawal Without Penalty: Withdrawal of principal may be made without penalty on the satisfactory proof of the death or
determination of legal incompetency of any owner of the account. To authorize such withdrawal because of legal incompetency, we
may, at our option, require a certified copy of a court or administrative order or decree establishing the incompetency.
Renewals: This account will be automatically renewed at maturity for an additional term equal to the Initial Term of your account, with
unlimited renewals. The Bank will send you a notice before each maturity date. All notices will be sent to your address as shown on
the Bank's records. The interest rate and annual percentage yield for any renewal term will be the rate we are offering at the time of
renewal on this type and term of certificate of deposit. The Bank rE:serves the right not to renew this account by giving you prior
written notice.
THIS ACCOUNT IS SUBJECT TO THE MASTER ACCOUNT AGRI?EMENT AND ACCOUNT DISCLOSURES AND REGULATIONS
4431 Rev.B-98
CITY OF C~JPERT)LNO
IMPRQVEMENT SECURITX
DEPOSIT TO SECURE FAITHFUL PERFQRMANCE OF AG)<2.EEMENT
FOR ZAND DEVELOPM]:NT IMPROVEMENTS
(ASSIGNMENT U1? PASSBOOKS)
WHEREAS, the City Council of the City of Cupertino, County of Santa Ciara, State
of California, (hereinafter called "City"} and vin L_ Su, Sandy Su & Tony L ,Su
(hereinafter called "Developer") have entered into an agreement dated 12 / 2 ~ 9 9
anal identified as project 225 S. Blane Ave., Cu ertino, CA , which is'
referred to and made a part hereof, wh?reby~ Developer agrees to install and complete
certain designated public improvements; anc.
WHEREAS, Developer is required under the terms of said agreement to deposit cash
to secure the faithful performance of the terms therein;
NOW, THEREFpE)r, Developer herewith deposits the sums of $ $'7 600.00
with City, receipt of which is hereby acknowledged.
In the event that Developer or his successors in interest do not perform the
covenants, conditions, and provisions of said agreement or any amendment thereof made
as therein provided at the time and in the manner specified, then the aforesaid sum
shall forthwith be deemed forfeited by Developer, and the same shall become the sole
property of Gity to be used by City to complete the performance of the provisions of
said agreement.
If the amount herewith deposited is insufficient to pay for performance of said
agreement, Developer shall pay such deficit as is necessary, including reasonable
attorneys' fees and costs of suit incurred to enforce this agreement.
Upon the satisfactory performance of the work to be done under said agreement,
City shall relinquish such funds as are herewith deposited, without interest, less
any sums used by City to complete performance of the work or pay any claims thereunder.
IN WITNESS WHEREQ7~, three identical counterparts of this instrument, each of
which shall fox aI1 purposes be deemed an original thereof, have been duly executed
by Developer on _ 12/22/99 ~,~,,, _,-. _ _
Receipt of notice of this
a,esignment is hereby acknowledged.
1 ,
(Bank and Account No.)
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Title : ~ ~!-y~' ~I 1 G1 .~ ~ -^=C 4~ -
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Date: ~~- ~~ ..,. ~.
open
Adaress:5463 Blackhawk Dr.
Danville, CA 94506
City of Cupertino:
Finance Director
Approved as to orm:
City Atto
DEC-23-99 11:23 AM MISSIdN DEV CORP 51065T511T P. 02
FROM SMDi,CO I N5.
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Dec. 23 1999 12~26PM Pi
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FrQmr~n[, CA94539
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THIS CERTIFICATE fS lSSIJED AS A MATTER Of INfOf~bfAT10A
ONLY AND CONFERS NO RIGHT$ UPON THE CERTIFICATE
HOLDER. 1'HiS CERTIFICATE DOES NOt AMEND BXTENO OR I
ALTER THE_ COVERAGE AFFORDED BY THE POI.jCIfS BEL011~.
`__ COMPANIES AFFOHpING COVERAGE .
co"'^`~` Gredit General Insurance Company
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IFDICA?E~, NOI~IITFISTAI~IHO MI'= RECl:13E~+!eVT. ~'G~N pR COPIDITIOIJ ~ /RNY CC!~iTFt~•T OR OYH~~ G~OC~::MEN7 WI i H R~SPECT TC ~"M~.H TNI$
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E1QClUSION£ A:ID CgNGITIQNS qF gUCH POLICIES. LI':1T5 Si1Q1VA II+.nY HALE 13EEK ~.E.'7UCE0 Qv RAID CJILLIS.
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DEC-23-99 11:24 AM MISSION DEV CORP 3106s7511T P_03
FROM ; 8t1D8C0 1 NS. F'F~E tom. :51.0 638 7561 Dec. 23 1999 ! 2: 26PM P2
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POLICY NUMBER: AA8]f!U-2419-0~ COIVtMFRCIAL OEN~F?AL! IA31~,`T~
7H9S E~pp~SE~UIE:VT CHAiVG~S T~a;£ fiGL1~Y. PEAS; RE~-!3 ~T C~REfi~~LY.
This enciorserr~ert modifies irsurarce prnvided unc~sr trz to:iawing:
C~MMCf?CIAL GENERAL LIABILITY CO.cFLaGE PART.
Nirne n1 P•rcoa or a'?IEonl=stun:
~y person rJIC ozg.3nization to wh~4[n or to which you are abl i.gatGd
tbrouyh a vzitten contx'act ar by' the eai~tence et a pe~n~.t_
(if no e~~:ry appeers b5ove, information rte:sired to c:e;-lplete tl'is e;~dorserne'-t wi~l bt 5!-;ewn it the becla~atiohs
ss apptic~btt to this eM;o-sement.)
Wi-?O IS AN 1htSUREL'1(Seei~on II) +s amcrdcd tc i^c'.sdE as an insa:ec the pe-scr nr o-~a;,;aatfon shown ~:, t"e
Schedule, but only wi~~ respect to I~aNiiity ar4s:n~ o+~t of 'you~r work" for that i~:su~(rd by o~ for yo4.
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RESOLUTIOrv NO.00-029 D`'
A RESOLUTION OF THE CITY COUI`1CIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION OF IMPROVEMENT AGREEMENT
BETWEEN THE CITY AND DEVELOPERS ,KEVIN L. SU, SANDY SU,
AND TONY L. SU; 10225 SOUTH B1~ANEY AVENUE, APN 369-32-009
WHEREAS, there has been presented to the City Council a proposed improvement
agreement between the City of Cupertino and developers, Kevin L. Su, Sandy Su, and Tony L.
Su, for the installation of certain municipal improvements at 10225 South Blaney Avenue, and
said agreement having been approved by the Cit~r 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 agre-ement on behalf of the City of Cupertino.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 18"' day of January, 2000, by the following vote:
Vote Members of the City Council
AYES: Burnett, Chang, James, Lowenthal„ Statton
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST: APPROVED:
/s/Kimberly Smith /s/John Statton
City Clerk Mayor, City of Cupertino
Resolution No. 00-029
Page 2
EXHIBIT "A"
SCHEDULE OF BOND, FEES, AND DEPOS ITS
DEVELOPMENT: Single Family Home
Kevin L. Su, Sandy Su, and Tony L. Su
LOCATION: 10225 South Blane~~ Avenue
A. Faithful Performance Bond: Off-site: $ 6,600.00
On-site: $ 1,500.00
SIX THOUSAND SIX HUNDRED AND 00/100 DOLLARS
B. Labor and Material Bond: $ 6,600.00
SIX THOUSAND SIX HUNDRED AND 00/100 DOLLARS
C. Checking and Inspection Fees: $ 1,975.00
ONE THOUSAND NINE HUNDRED SEVENT`H'-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: $ 271.00
TWO HUNDRED SEVENTY-ONE AND 00/lOC~ DOLLARS
G. One Year Power Cost: N/A
H. Street Trees: By Developer
I. Map Checking Fee: N/A
J. Park Fee: N/A
K. Water Main Reimbursement: N/A
L. Maps and/or Improvement Plans: As specified in
Item #23 of agreement