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-- 0 R I G I N A L i-z~d91 <br /> <br /> RESOLUTION NO. 12891 <br /> <br /> RESOLUTION APPROVING AND AUTHORIZING EXECUTION <br /> OF AGREEMENT FOR CONSTRUCTION OF STREET <br /> IMPROVEMENTS FOR 210 TO 290 REDWOOD SHORES <br /> PARKWAY AT THE REDWOOD SHORES SHOPPING CENTER <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD <br />CITY, AS FOLLOWS: <br /> <br /> 1. That certain agreement entitled, "Agreement for Construction of Street <br />Improvements for 210 to 290 Redwood Shores Parkway at the Redwood Shores <br />Shopping Center," (form dated 09/09/96) by and between the City of Redwood <br />City, a municipal corporation of the State of California, and Shapell Industries of <br />Northern California, a Division of Shapell Industries, Inc., a Delaware corporation <br />(the "Agreement"), a copy of which agreement is on file in the office of the City <br />Clerk, to which copy reference is hereby made for the full particulars thereof, is <br />hereby approved, and the Manager and City Clerk are hereby authorized and <br />directed to execute, and to attest thereto, respectively, said agreement for and <br />on behalf of the City of Redwood City, subject to the following conditions: <br /> <br /> (a) Before the commencement of any work of improvements on the <br />Improvement specified in the agreement, Owner shall furnish to City and file with <br />the City Clerk, a bond or deposit securing the faithful performance of said Owner <br />of all work and construction of all improvements designated or mentioned in said <br />agreement, within the time therein specified, in the amount of Two Hundred <br />Sixty-nine Thousand Dollars ($269,000); and Owner shall also furnish to City and <br />file with the City Clerk, a bond or deposit securing the payment by Owner of all <br /> <br /> <br />