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- o R ~ c T NAL ~ 4/22/96 <br /> RESOLUTION NO. 12737 <br /> <br /> RESOLUTION CONSENTING TO ASSIGNMENT OF PARCEL ' <br /> MAP NO. 95-1 SUBDIVISION; AND CONDITIONALLY <br /> AGREEING TO SUBSTITUTION OF SUBDIVISION <br /> IMPROVEMENT BONDS AND INSURANCE <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD <br />CITY, AS FOLLOWS: <br /> <br /> 1. This Council hereby consents to the assignment by Ampex <br />Corporation ("Ampex") of all of its rights and obligations under the Agreement for <br />Improvement For Parcel Map No. 95-1, (form dated 11/14/95; the "improvement <br />Agreement") to Martin/Campus Associates L.P., a California limited partnership. <br /> <br /> 2. This Council conditionally agrees to accept Improvement bonds and <br />insurance from the aforesaid Martin/Campus Associates L.P. in fulfillment of its <br />obligations as assignee of the aforesaid Improvement Agreement, and to release <br />to Ampex the Improvement bonds heretofore filed with the City and to relieve <br />Ampex of its insurance obligations under said Improvement Agreement. <br /> <br /> 3. The acceptance and release of bonds and insurance set forth in <br />paragraph 2 are subject to the final approval by the City Attorney as to the form <br />of said bonds and insurance to be filed by Martin/Campus Associates L.P., and <br />are further conditioned upon the conveyance of Parcel Map No. 95-1 Subdivision <br />to Martin/Campus Associates L.P. and the effectiveness of the Assignment. <br /> <br />Reso-27 <br />I=XS:rg <br />03/21/96 <br /> <br /> <br />