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- 6/12/O0 <br />,' - COPY <br /> RESOLUTION NO. 139:].8 <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 /> CITY, AS FOLLOWS: <br /> <br /> 1. That certain Agreement entitled, "Agreement for Construction of <br /> Improvements on Seaport Boulevard" {form dated 06/09/00R), by and between <br /> the City of Redwood City, a municipal corporation of the State of California, and <br /> Pacific Shores Development, LLC, a Delaware limited liability company, a copy <br /> of which Agreement is on file in the office of the City Clerk, to which copy <br /> reference is hereby made for the full particulars thereof, is hereby approved, and <br /> the Manager and City Clerk are hereby authorized and directed to execute, and <br /> to attest thereto, respectively, said Agreement for and on behalf of the City of <br /> 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 pen~ormance of said Owner <br /> of all work and construction of all improvements designated or mentioned in said <br /> Agreement, within the time therein speci§ed, in the amount of Six Million Three <br /> Hundred Thousand and No/100 Dollars {$6,300,000.00); 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 /> <br /> SH/RWC/Council ~G Pa~e: 14 of 17 <br /> Reso-907 <br /> FXS/fs <br /> <br /> <br />