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11/13/00 <br />0RI GTI NAL <br />RESOLUTION NO. 14085 <br />RESOLUTION APPROVING AND AUTHORIZING EXECUTION <br />OF AGREEMENT FOR CONSTRUCTION OF IMPROVEMENTS <br />FOR BLOMQUIST STREET /EAST BAYSHORE ROAD <br />REALIGNMENT <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD <br />CITY, AS FOLLOWS: <br />1. That certain Agreement entitled, "Agreement for Construction of <br />Improvements for Blomquist Street/East Bayshore Road Realignment" (form <br />dated 10/24/00), by and between the City of Redwood City, a municipal <br />corporation of the State of California, and Pacific Shores Development, LLC, a <br />Delaware limited liability company, a copy of which Agreement is on file in the <br />office of the City Clerk, to which copy reference is hereby made for the full <br />particulars thereof, is hereby approved, and the Manager and City Clerk are <br />hereby authorized and directed to execute, and to attest thereto, respectively, <br />said Agreement for and on behalf of the City of Redwood City, subject to the <br />following conditions: <br />(a) Before the commencement of any work on the Improvements specified <br />in the Agreement, Owner shall furnish to City and file with the City Clerk, a bond <br />or deposit securing the faithful performance of said Owner of all work and <br />construction of all improvements designated or mentioned in said Agreement, <br />within the time therein specified, in the amount of One Million Three Hundred <br />Sixty -five Thousand and No /100 Dollars ($1,365,000.00); and Owner shall also <br />furnish to City and file with the City Clerk, a bond or deposit securing the <br />payment by Owner of all bills for labor and materials incurred in the construction <br />Reso -1 024 1 <br />F /Shared/Redwood/Council <br />FXS:djk <br />10/24/00 <br />