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<br />COpy <br />RESOLUTION NO. 13918 <br /> <br />6/12100 <br /> <br />RESOLUTION APPROVING AND AUTHORIZING EXECUTION <br />OF AGREEMENT FOR CONSTRUCTION OF IMPROVEMENTS <br />ON SEAPORT BOULEVARD <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD <br /> <br />CITY, AS FOLLOWS: <br /> <br />1. <br /> <br />That certain Agreement entitled, "Agreement for Construction of <br /> <br />Improvements on Seaport Boulevard" (form dated 06/09/00R), by and between <br /> <br />the City of Redwood City, a municipal corporation of the State of California, and <br /> <br />Pacific Shores Development, LLC, a Delaware limited liability company, a copy <br /> <br />of which Agreement is on file in the office of the City Clerk, to which copy <br /> <br />reference is hereby made for the full particulars thereof, is hereby approved, and <br /> <br />the Manager and City Clerk are hereby authorized and directed to execute, and <br /> <br />to attest thereto, respectively, said Agreement for and on behalf of the City of <br /> <br />Redwood City, subject to the following conditions: <br /> <br />(a) <br /> <br />Before the commencement of any work of improvements on the <br /> <br />Improvement specified in the Agreement, Owner shall furnish to City and file with <br /> <br />the City Clerk, a bond or deposit securing the faithful performance of said Owner <br /> <br />of all work and construction of all improvements designated or mentioned in said <br /> <br />Agreement, within the time therein specified, in the amount of Six Million Three <br /> <br />Hundred Thousand and No/100 Dollars ($6,300,000.00); and Owner shall also <br /> <br />furnish to City and file with the City Clerk, a bond or deposit securing the <br /> <br />payment by Owner of all bills for labor and materials incurred in the construction <br /> <br />SH/RWC/Councii <br />Reso-907 <br />FXS/fs <br /> <br />1111111111111111111 II 1111111 111111111111111111111111111 ~!f;~fl~ 41!; ~r056 <br />