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84-010 Pinn Brothers Construction, Inc., Participation agreement for Below Market Rate Housing Program/ Improvement agreement Tract 7556 • Recorded at the request of: City of Cupertino g:,#.7.;. When recorded, please return to: • PAP City of Cupertino 'Ri-C FEE8331724 10300 Torre Avenue ---_____I__- —e, Cupertino, California 95014 it$W __ f� J`2GO .3 No fee in accordance with MriC Government Code 6103 Ll'EN Min Recorded et {he request of GOLDEN STAT& DILE CO, PARTI aRECEASE AND FEB 21 1985 8.00 ADDITION TO A.M. GEORGE A. MANN, Recorder, "PARTICIPATION AGREEMENT Santa Clara Ceenty, 9ffioial Records CITY OF CUPERTINO BELOW MARKET RATE HOUSING PROGRAM" WHEREAS, that certain document entitled "Participation Agreement - City of Cupertino Below Market Rate Housing" was filed for record on May 24, 1984 under Series Number 8075105 in Book I=572 of Official Records, at Page 318, et seq. , Santa Clara County Records, State of California, affecting Lots 12,20,21 and 9 in the forty-six (46) unit, multiple family residential housing project commonly known as Tract 7556, Town Center Townhomes, Cupertino, California, and being more particularly described as e,p follows: "LOTS 12, 20, 21 and 9, as shown on that certain Map entitled "Tract 7556 Town- "tsS Center, which said Map was filed for record on February 29, 1984 in Book 525 of Maps, at Pages 38,39,40,41,42 and 43, Santa Clara County Records, State of C1S California";and, WHEREAS: the developer has requested and the City has agreed to the release of Lot 9 from the Below Market Rate (BMR) Housing Program as it affects "Tract 7556, Town- Center Townhomes" and the addition of Lot 16 of said Tract 7556, Town Center Townhorres to -the Below Market Rate (BMR) Housing Program. mrNOW THEREFORE, the undersigned hereby declare that the above referred to "Participation Agreement - City of Cupertino Below Market Rate Housing Program" is modified to delete Lot 9 and to now include Lot 16 of Tract 7556, Town Center Townhomes. All other provisions, terms and conditions of said "Participation Agreement - City of Cupertino Below Market Housing Program" above referred to are to remain in full force and effect with regard to the above referred to Lots 9,12,20 and 21 in said "Tract 7556 Town Center Townhomes". IN WITNESS WHEREOF, the undersigned have hereunto set their hands on the dates set /- forth forth hereafter. f/f/f Date•'G / \\\ ATTEST• CI GP�' CUPS"TI' 0 BY• Ial . . I.4 .• City Clerk emri o aF" I I y . cT I OC . October October 19,1984 • •INN .:'ra Y I ' CONS. j ; IOI)s INC a C.. 'fo.� is Co• oh<� • BY: I 4dUE2q'y,• •••• R. Pinn, President " P.q, f Approved: Approved as to form: ' IcLtzzet t ctor of Planning Department City Attorne :L1_7 STATE OF CALIFORNIA1 ///] ) J 26®P-�=150 it San T Q l /Q rq TSS. COUNTY OF 9 ,/ 1 On fnbe r /9 / S" o ,�� before me,the undersigned,a Notary Public in and for said J • State,personally appeared /9/44.1 n Divi i known tome to be the er.PP,9E,9 TF President.and - _ knnwn.seme-tebt -Secretary of the corporation that executed the within Instrument. known to me to be the persons who executed the within Instrument on behalf of the corporation therein named,and acknowledged to me that such corporation executed the within instrument pursuant 4 to its by-laws or a resolution of its board of directors. �@C+OAofaCJL10 COCQtrC7 L�[7QOCUC.CgCUG V cx�t WITNESS my hp� d and official seal. / �- ` r� gC OFFICIAL SEAL Signature i/. /. //,/r�i ELLEN MARGOT LEFF a� 1- C//�� NOTARY PUBLIC•CALIPLRNU • G /�'I/><R�rcT lr'Fr- SANTA CLARA COUNTY 'My Commission Expires Aug. 5, 1988 coram vaaonomaettottecca 9CWcx: 1 Form 3216 Corporation ASSIGNMENT OF OPTION TO PURCHASE REAL PROPERTY Pursuant to the terms of the Agreement dated May 18, 1984, made by and between the City of Cupertino and Pinn Brothers, the City of Cupertino does hereby assign its option to purchase the real property described in Exhibit "A" and any improvements thereon to Lorretta and Evelyn Roach, subject to any later option to purchase held by the City pursuant to said agreement with respect to subsequent sales of the subject property. This option shall immediately lapse and immediately become null and void if the escrow for the purchase of the real property described in Exhibit "A" by Lorretta and Evelyn Roach is not closed ten (10) days after the occurrence of the later of the following events: 1. The premises described in Exhibit "A" are ready for occupancy, or 2. Ninety (90) days from the date the developer notifies the City of Cupertino that the building permits have been issued to the developer for the development of said premises. This option shall immediately lapse and immediately become null and void if , on the date the escrow is closed, Lorretta and Evelyn Roach do not meet the eligibility qualifications of the City of Cupertino. Dated: City of Cupertino 4Y ?LBit City -Clerk City Manager • • LEGAL DESCRIPTION Real property situated in the City of Cupertino, County of Santa Clara, State of California described as follows: Lot #21 , Tract No. 7556, as shown on a map which was recorded February 29, 1984 in Book 525, Pages 38 to 43 of Maps, Records of Santa Clara County. Recorded at the request of: City of Cupertino When recorded, please return to: 8237877 City of Cupertino FILED FOR RECORD 10300 Torre Avenue AT REUEST OF Cupertino, California 95014 Cu P k2 "r I N\G No fee in accordance with How 2 8 ao aw 'g1.1 Government Code 6103 01=F'0L..RECORDS - SANI-ArtLARA COUNTY PARTIAL RELEASE AND GEORGE A. MANN RF'ISTRAR RECORDER ADDITION TO PJ 011 r s 88 "PARTICIPATION AGREEMENT CITY OF CUPERTINO BELOW MARKET RATE HOUSING PROGRAM" WHEREAS, that certain document entitled "Participation Agreement - City of Cupertino Below Market Rate Housing" was filed for record on May 24, 1984 under Series Number 8075105 in Book I=572 of Official Records, at Page 318, et seq. , Santa Clara County Records, State of California, affecting Lots 12,20,21 and 9 in the forty-six (46) unit, multiple family residential housing project comuvnly known as Tract 7556, Town Center Townhomes, Cupertino, California, and being more particularly described as follows: "LOTS 12, 20, 21 and 9, as shown on that certain Map entitled "Tract 7556 Town- Center, which said Map was filed for record on February 29, 1984 in Book 525 of Maps, at Pages 38,39,40,41,42 and 43, Santa Clara County Records, State of California";and, WHEREAS: the developer has requested and the City has agreed to the release of Lot 9 from the Below Market Rate (BMR) Housing Program as it affects "Tract 7556, Town- Center Townhomes" and the addition of Lot 16 of said Tract 7556, Town Center Townhomes to the Below Market Rate (BMR) Housing Program. NOW THEREFORE, the undersigned hereby declare that the above referred to "Participation Agreement - City of Cupertino Below Market Rate Housing Program" is modified to delete Lot 9 and to now include Lot 16 of Tract 7556, Town Center Townhomes. All other provisions, terms and conditions of said "Participation Agreement - City of Cupertino Below Market Housing Program" above referred to are to remain in full force and effect with regard to the above referred to Lots 9,12,20 and 21 in said "Tract 7556 Town- Center- Townhomes". IN WITNESS WHEREOF, the undersigned have hereunto set their hands on the dates set forth hereafter. • : , O�N.r,n •s, w' Date: -41/2110 A'1'1'hST: S 1-77.4 .4 CI i III • City Clet WVar°' "1 ,.•:.?;.0 • MAYO'lyr, TO j, • iVCTIQy D. e: October 19,1984 -•'•• ..�a� ,JJ 1'r PINN •.=STHERS CONSTR"" SON, 2NC �4 . . .v�+' A C. ., is Co .. .n, e: r J J C., • BY: _ / . Pinn, President " , , Approved: Approved as to orm: (L L""l/, a eity Attorn STATE OF CALIFORNIA COUNTY OF JQ,7�, (2/2/22 On SS. 01iA9f On l/Ober 19, y/�911 r' before me.the undersigned,a Notary Public in and for said State,personally appeared //t/V P .Pi/till) known to me to be the OfPOE 47E, President.and bnnwn to n,e r..t o Secretary of the corporation that executed the within Instrument, known tome to be the persons who executed the within Instrument on behalf of the corporation therein named, and acknowledged to me that such corporation executed the within instrument pursuant to its by-laws or a resolution of its board of directors. WITNESS my hand and official s ` �I :47: G.tlLX9COC.(.1'CC9CUgtSignatureelf Q/� QORFFICIAI SEAL_ ELLEN MAOT LEFFIMLYto� LEFTNTACBLIC•CALIfORNIA S SANTA CLARA COUNTY My Commission Expires Aug. 5, 1988 ;atra . 6ialAn 496969000OC.OGX9G 9CX9LX9“.96Z, k 3 . 3. [' C Form 3216 Corporation • l 41 ASSIGNMENT OF OPTION TO PURCHASE REAL PROPERTY Pursuant to the terms of the Agreement dated May 18, 1984, made by and between the City of Cupertino and Pinn Brothers Construction, Inc. , the City of Cupertino does hereby assign its option to purchase the real property described in Exhibit "A" and any improvements thereon to Myung Keun Kim and Yong Cha Kim, subject to any later option to purchase held by the City pursuant to said agreement with respect to subsequent sales of the subject property. This option shall immediately lapse and immediately become null and void if the escrow for the purchase of the real property described in Exhibit "A" by Myung Keun Kim and Yong Cha Kim is not closed ten (10) days after the premises described in Exhibit "A" are ready for occupancy. This option shall immediately lapse and immediately become null and void if, on the date the escrow is closed, Myung Keun Kim and Yong Cha Kim do not meet the eligibility qualifications of the City of Cupertino. This option shall immediately lapse and immediately become null and void if Myung Keun Kim and Yong Cha Kim notify the City in writing that they have decided not to purchase the real property described in Exhibit "A". Dated: d9cif 3o /,77 // City of Cupertino l!t 0 , City Cleric. City Manager • `'EXHIAT A" LEGAL DESCRIPTION • Real property situated in the City of Cupertino, County of Santa Clara, State of California described as follows: Lot #16, Tract No. 7556, as shown on a map which was recorded February 29,• 1984 in Book 525, Pages 38 to 43 of Maps, Records of Santa Clara County. RETURN TO CITY! O`er D/O I ,S NO FEF IN ACCORDANCE OF CUPERTINO WITH 6OV CODE 6103 10300 TORR: AVE: 80 /rt 5105 CUPERTINO, CA 95014 PARTICIPATION AGREEMENT 1572,'±c_318 • CITY OF CUPERTINO BELOW MARKET RATE HOUSING PROGRAM This agreement made and entered into this 18th day of May 1984 , by and between the City of Cupertino (hereinafter "City" ) , and Pinn Brothers .Construction, Inc. _._ --- --- _- (hereinafter "developer" ) , witnesseth: . Whereas, developer is the owner and developer of that parcel of real property commonly known as 7556 Towncenter Townhomes (Tract 7556) , and Assessor's Parcel Number 369-41-001, Cupertino California: Whereas , developer propose to develop a 46 unit multiple family, • residential housing project (hereinafter "project" ) on above-described property: . Whereas , on September 6, 1983 the City Council of the City of . Cupertino, by adoption of Planning Commission Res . No. 2429 . approved the development of said property in a manner consistent with the terms and conditions herein contained, one of such conditions being developer's participation in the Below Market Rate (BMR) Housing Programs of the City of Cupertino, and Whereas , it is the intention of both parties to set forth the covenant , conditions and restrictions applicable to BMR Program participation in this separate document. Now, therefore, in consideration of the foregoing, and the mutual terms and covenants hereinafter set forth, the parties hereby agree that developer shall participate in the above-described program, subject to the following terms and conditions : 1:2) 14Fr,c "; ar 0 rn - n-rn N tuc, �17.0 TP n ov G7 rn-n Q 4 . sago 1.111 X O Q) C -1- •j - - 1577.?NGE319 ' 1. SATISFACTIONS OF CONDITIONS. CITY hereby agrees that Execution, recordation -• and performance of this agreement shall constitute nerformance of those conditions of i f subdivision approval for the PROJECT which relate to sale of units pursuant to the CITY's RIM Program and the incorooration of related terms in the organizational documents ' for the PROJECT, and shall be sufficient in that respect to Permit recordation-of the -- final subdivision nap, subject •to City Council approval of said final moo, satisfaction of all other applicable conditions and comnliance with all nrovisions of law. 2. SAIF. OF UNITS. Devel hereby agree that they shall offer units for sale, • based unon the unit description, as shown below, to households qualified by the City or its designee nursuant to the City's Below !larket Rate Housing Program and the guidelines established thereunder. The sales price of• the . mita shall he established ninety (99) days nrior to the prniected date of occunancv • according to the formula set in the City policy based on the median income levels for Santa Clara Count'• as published by the San Francisco Office of the U.S. Department of Housing and Urban Develnnmpnt which will be in effect on the nroiected date of Cvrificate of Occupancy. Developer further agrees to insert in any deed or other conveyance of any of said units those certain terms, conditions and restrictions • attached hereto as "EXHIBIT A" and incorporated herein by this reference. Tract Number Lot Number • Unit Type, No. Bedrooms 7556 12, 20, 21 - C, -2 bedrooms 9 • B, 2 bedrooms 7. OPINION OF COMEL. Concurrent with the execution hereof, develoner shall provide to City a letter of opinion from its legal counsel stating that in the opinion of counsel this agreement const-itutee a valid and binding contract unon developer and that the inclusion of the terms hereof in this agreement rather than in the Declaration of Covenants, Conditions and Restrictions for the nroiect does not impair developer's . -e legal ability to comply with said terms nor the-enforceability of this agreement by City. 4. RECORDATION. Developer shall execute this agreement; cause the same - to be acknowledged and delivet said executed and -acknowledged document to the • 1572!)!GE 320 City in such form as to permit its recordation in the office of the County Recorder of the County of Santa Clara, State of California. This agreement shall be recorded at the same time as the final subdivision map for the Project is recorded. City shall not be obligated to permit recordation of the final subdivision map prior to such delivery of this agreement. 5. LIMITED CONSTRUCTION. Nothing contained herein shall be deemed compliance with or waiver of any provision of law or condition of subdivision approval except as expressly stated herein with respect to conditions relating to RNR units. 6. AGREEMENT BINDING. The terms, covenants and conditions of this agreement hall apply to, and shall bind, the heirs, successors, executors, administrators, assigns . contractors, subcontractors .and grantees of both parties and shall he Tenants running with the land. 'ii 7. WAIVERS. The waiver by any party of any breach or violation of any tern, covenant or condition of this agreement or of any provision, ordinance or law shall not be deemed to be a waiver of such term, covenant, condition, ordinance or law or of any subsequent breach or violation of the same or of any other term, covenant , -ondition, ordinance or law. . A. COSTS /OM ATTORNEY'S FEES. The prevailing party in any action brought to enforce the terms of this agreement or arising out of this agreement may recover its reasonable costs and attorney's fees expended in connection with such an action from the other party. • 15'72P!c:321 IN WITHNESSWHE1teF92CITY-AND DEVELOPER have executed this agreement • 07.c;rr.4,4 Sys <i; 1.` ' the day and yeariSfi st abov iwritten. • t' 1-,-; J i L c.;c' , 'f I.' .� ATTEST: c----5` f =\t. 1> ;,••• ..;.' s, ,: ; ' CITY OF CUPERTINO t .;{ 4�T f+tit ; .,� r-cS/0°.54;i7:1 7,1 n i '} , b '\/` SIV/,Ci-r•••-o----- X rl City Clei7ty 0t`vv 414ii1�0s�� "-3ko' : City Manager 1 - �' 1 A 3�'nuns./ 1A..' ILr�/. ,: Slf , 1y' F -,,f --la 67-A414 c 6:1- C Developer by: /i ,/JO ' /LLci% Position: /1 0-4. .,Approved: , ek D :Q/lilti(.� ,LA___ tor of Planning Department Approved as to Form: • (/ Cit ttorney r r 1572 -rr.GE32 State of CM-LF ) On this 11 day of aero ,, in the Z r )ss year NOLI , before me ovnlu. olawAvt, County of £Mk- okra- ) a Notary Public in and for said County and I State, personally appeared A(/& R. ►fMJp) , personally known to me (or : . . - . - .. - • - - - •- - - •ry evidence) to be the person who executed the t ctemmtOmottoc`czusocm•otc9t, within instrument as egi-Sc&&✓E" .tea OFFICIAL SERI of the corporation on behalf of the corporation oq CHARLES w. BOMMARITO therein named and acknowledged to me that such ,, NOTARY PUBLIC-CALIFORNIA cy SANTA CLARA COUNTY O corporation exec ttd same. S My Commission Expires Jan. 9, 1987 gl ? oacraoacraaxvm.DaaamacracxaGramcsa WITNESS my ha : //d / ficia eal. alik • Notary Public in and for said County . and State i • ' EXHIBIT A TERMS AND CONDITIONS 1 S72r'!Gi 323 Subject to: w An option to purchase the real property conveyed hereby and any improvements thereon (hereafter "the Premises") under conditions herein later set forth, vested in the-City of Cupertino (hereinafter "City") . City stay designate a governmental or non-profit organization to exercise its option to purchase. City or its designee may assign this option to an individual private buyer who meets the City's eligibility qualifications. After the exercise of said ontion by City, its assignee or designee nay assign said right to purchase to any substitute individual nrlvate buyer who meets the City's eligibility requirements and is approved by the City: Provided, however, that such subsequent assignment shall not extend any time limits contained herein. .In the case of the original transfer from the develoner to the City, its assignee or designee, the City, its assignee or designee shall have 'the right to exercise its ontion to purchase said Premises within thirty (30)_da••c a[t_er iitP_ occurrence of the later of the following events: 1. \\i The .subject premises are ready for occupancy; or • • ,2. Within 9n days from the date the developer notifies the City .that building hermits have been issued to the developer for the development of the subject premises. The escrow shall be closedwithin ten (10) days of the exercising of the option. Ifthe subject premises are not expected. to be completed within ninety (90) days from the date the developer notifies the City that said building permits have ' been .issued, the developer shall notify the City -of the projected completion date at - 5 • • I2 F'Ic:3,24 . least ninety (90) days prior to the Certificate of Occupancy of the subject premises. • ' All such notices shall be personally delivered or deposited in the United States mail, postage prepaid, first class, certified, addressed to the City Manager, City of Cupertino, 10390 Torre Avenue, Cupertino, California 95014. In the case of the transfer from the original grantee to a qualified purchaser, whenever the owner (including Grantee and all successors in interest) of said Premises . shall no. longer desire to own said Premises, owner shall notify City in writing to that effect. Such 'notice shall be personally delivered or deposited i•n the United States mail, postage prepaid, first class, certified, addressed to City )Imager, City / F Cunertino, 10300 Torre Avenue, Cupertino, Cali'urnia 95014. City, its assignee or designee, shall then have the right to exercise its option to nurchase said Premises by'delivery of written notice, by personal delivery or certified nail, to the owner thereof at any time within sixty (60) days from the receipt by City of such wr'tten notice from owner of intent to sell or written notice of any other method or mode of termination of o•:nershin. As used hereinafter, "Grantee" shall refer to the original grantee and all successors in interest. If and in the event that City or its designee exercises its option to purchase aid Premises, close of escrow of said purchase shall be within sixty (60) days of the opening of such escrow by -either Party, except in the case of the original transfer • from the developer to. the City, its assignee or designee (see above) . Such escrow .shall be opened Upon delivery to owner of written notice of the exercise of the option or as soon thereafter as possible. In the case of the original transfer from the developer to the City, its assignee or designee, closing costs shall be paid in the same manner for Below Market Rate units as for the market, rate units in the develonment. In the • case of subsequent transfers, closing costs and title insurance shall be paid pursuant to the custom and practice in the City of Cupertino, Santa Clara County, at the time of the opening of such escrow. Any 'prepayment fees charged by seller's lender will be I • • ' paid by the buyer and that amount will be added [t tohe buyer's base purchase price to allow it to be recovered upon resale by the buyer. • • The 'seller will be reoutred to obtain and pay for a structural past control report and to pay for any necessary cortective work. . The seller will not, be obligated to perform preventative, but not• currently necessary, work; the buyer may perform . such work at his or her expense. • The purchase price shall be paid in cash at the close of escrow•or as may be otherwise provided by mutual' agreement of haver and seller. The purchase price of the Premises shall be fixel at the lowest amount' arrived at via the following methods: 1. In the case of the original transfer from developer to the City. or its assigned interest, the purchase price of the units shall be 'established ninety 190) days 'prior to the projected date of occunancy according to the formula set in the City nolicv based on the median Income levels for Santa Clara Count•; as nublished by the San Francisco Office of the U.S. Department of Housing and Urban Development which '1II be In effect on the projected • Certificate of Occupancy. 0 2. In the case of all transfers other than the original transfer from the developer to the City, its assignee or desi ::iee, the purchase price shall be fixed at and is based uoon: a) The purchase price paid by the selling owner plus an amount, if any, . to compensate .for any increase in the cost of living as measured by the . Consumer Price Index for the San Francisco-Oakland area published by the U.S. Department of Labor, Bureau of Labor Statistics (herein "the Index"). For that purpose, the Index prevailing on the date of purchase by Grantor c . 1 S72eIci 326 f� . of said. premises shall be compared with that estimated to be prevailing sixty days subsequent to receipt by City of notice of intent to sell . • The yearly compounded increase in the Index, If any, shall be computed and the base price shall be increased in the same percentage; provided, however, that the price as, determined under subparagraph 2(a) shall in no event be lower than the purchase price paid the selling owner. • b) The adjusted purchase price, as determined by subparagraph 2(a) , shall be increased by the amount. of any prepayment fees charged by the previous. owner's lender and paid by the current seller at the time the current C seller purchased said Premises. c) The adjusted purchase price, as determined under subparagraph 2(a) and , 2(b) shall be .increased by the value of any substantial or structural or • permanent fixed improvements which cannot be removed without substantial damage to the premises or substantial or total loss of value of said improvements as hereinafter provided. No such adjustment shall be :wade except for improvements made or installed by the selling owner. No improvement shall be deemed substantial unless the actual initial costs (• of the improvement to the owner exceeds one (1) percent of the purchase' price paid by the selling owner for the premises. Notwithstanding the foregoing, improvements to the common areas of a condominium or Planned • Unit Development made by a -mandatory assessment by the homeowner's association will be considered the same as an improvement made directly by the owner. The one (1) percent minimum expenditure requirement will not apply to such assessments. In addition, replacement of appliances, fixtures and equipment which were originally sold as part of the unit will be deemed substantial improvements if the replace- ment is required by the nonoperative or deteriorated nature of the I 572 PACE 327' • original appliance, fixture, or equipment. The replacement must be of Comparative value. The one (1) percent minimum expenditure requirement • will not apply to such reolacements. No- adjustment shall he made for the value of any improvements unless the owner shall present to the City valid ' written documentation of the cost of said imnrovemenfs. The value of such improvements and the amount by which the sales price shall be • adjusted shall be the appraised market value of the improvements when . considered as additions or fixtures to the premises (I.e. , the amount by which said -improvements enhance the market value of the premises) at the ' time of sale. City or its designee shall have an appraisal made,by an • . appraiser of its choice to establish the market value. The other may also. have an appraisal made by an appraiser off owner's choice to establish ' the market value. If agreement cannot he reached, the average of the two appraisals shall be termed the market price. ' In all sales , the sales price, fixed as designated above, shall be recorded clearly. as a part of the deed transferring ownership. Upon resale, an -inspectirr: of the Premises will be made by the Chief •Building .nspector of the City of Cupertino. Damage done to the premises as a result of the • selling owner's failure to adequately maintain the 9vemises will he identified by said . Inspector and the cost to repair them will Ge estimated. The seller has the option, exercisable prior to the close of escrow of either repairing the identified damaged conditions and receiving the full sale orice as established above or having the cost to repair the identified damaged conditions deducted from the proceeds of the sale. Those funds would remain in escrow and guarantee that the repairs be made. • In no event shall City become in any way liable to Grantee, nor become obligated • in any manner, by reason of' the assignment of its option to purchase, nor shall City be in any way obligated or liable to Grantee for any failure of City's assignee • 15 2r!GE328• . . to consummate a purchase of the Premises or to comply with the terms of any sale agreement. • • • Until such time as the City's option to purchase is exercised, waived or expires, said Premises and any interest in title thereto shall not be sold, leased, rented, assigned or otherwise transferred to any person or entity except with the express written consent of the City or its designee, which consent shall be consistent with the City's goal of creating, preserving, maintaining, and protecting housing in ' Cupertino for persons of low and moderate income. In 'the event that City abandons or fails - to exercise its option to purchase .id Premises within sixty (60) days after it receives the notice of intent to.sell , - City will cause to he recorded in Santa Clara County a notice of, intent not ti exercise its option with respect to said Premises, and.' declaring that the provisions of this option are no longer applicable to Said Premises, and shall deliver a cony thereof to owner of said Premises. Said notice shall be recorded within fifteen (15) days of City's decision not to exercise its option, but no later than sixty (60) days after City receives the notice of intent to sell. Upon recordat-ion of said notice, the provisions ^f this option shall .no longer be applicable to said Premises. • • The following transfers of title or any interest therein are not subject to the • option orovisons of this deed; Transfers by gift, devise or inheritance to grantee's spouse or .issue; transfers of title to spouse as part of divorce or dissolution proceedings; acquisition of title or interest therein in conjunction with marriage; Provided, however, that these covenants shall continue to run with the title to said Premises following said transfers. The provisions set forth in this deed relating to City's option to purchase shall . terminate, and become void automatically fifty (50) years following the date of recordation of this deed unless extended in writing for one additional fifty (50) year period at the • 1572;,fc`32p option of the City and the same shall constitute covenants which shall run with the • land and be binding upon grantee(s) and successors and assignee; and all parties having or acquiring any right, title or interest in or to any part of the property. Any attempt to transfer title or any interest therein in violation of these covenants shall be void. • • Grantee covenants to cause to be filed for record in the Office of the Recorder of the County of Santa Clara a request for a copy of any notice of default and of any • . notice of sale under any deed of trust or mortgage with power of sale encumbering said Unit pursuant to Section 2924(6) of the Civil Code of the State of California. Such request shall specify that any such notice shall he mailed to the City Manager, City of _upertino, 10300 Torre Avenue, Cupertino, California, 9501L. In the event grantee fails to give such notice to City, all surplus to which grantee may he entitled pursuant to Section 727 of the Code of Civil Procedure of the State of California shall be paid to City. If grantee gives proper notice, any surplus to which grantee may he entitled pursuant to Code of Civil Procedure Section 727 shall be paid as follows: That portion of surplus (afer Payment of encunbrances ) , if any, up to, but not to exceed, the. net amount that grantee would have received after payment of encumbrances under the formula set forth above had City exercised its option to chase the property on the date of [te.foreclesure sale, shall he paid to grantee on the date of the foreclosure sale: the balance of surplus , if any, shall be paid to the City: • • In the event that the Unit is destroyed and insurance proceeds are distributed to grantee instead of being used to rebuild, or in .the event of condemnation, if proceeds thereof are distributed to grantee, or in the event of termination of the condominium, liquidation of the association and distribution of the assets of the association to the members thereof, including grantee, any surplus of proceeds so distributed remaining after payment of encumbrances on said Unit shall be distributed — 11 r. Y , . 1572 4cE 33p 4 . fr.• • • •• 'as follows: That portion of the surplus up to but not to exceed the net amount that grantee would have received under the formula set forth above had City exercised its ' option to purchase the property on the date of the destruction, condemnation evaluation date, or liquidation, shall he distributed to grantee, and the balance of such surplus, if any, shall be distributed to the City. . All no:ices required herein shall be sent to the following addresses: • ' City:, • Declarant Purchaser City Manager • _ • k .ty of Cupertino 10300 Torre Avenue Cupertino, CA 95014 _ • s _ BY ACCEPTANCE of this- deed, grantee accepts and agrees to be bound by the covenants contained herein. e 4 � jePv �ar4sr Tt7:75?";, City, of Cupertino 10300 Torre Avenue P.O. Box 580 Cupertino, California 95014 Cupertino,California 95015 Telephone: (408)252-4505 OFFICE OF THE CITY CLERK February 27, 1984 Pinn Brothers Construction, Inc. 2470 South Winchester Boulevard Campbell, CA 95008 IMPROVEMENT AGREEMENT - TRACT NO. 7556 Dear Mr. Pinn: We are enclosing to you for your files one (1) copy of the Agreement by and between the City of Cupertino and Pinn Brothers Construction, • Inc. , which has been fully executed by City Officials, along with one (1) copy of Resolution No. 6274, which was enacted by the City Council of the City of Cupertino, at their regular meeting of February 21, 1984. Sincerely, / DOROTHY CORNELIUS CITY CLERK CITY OF CUPERTINO DC/so encl. cc: Department of Public Works RESOLUTION NO. 6274 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO APPROVING THE FINAL MAP OF IMPROVEMENT PLANS OF TRACT NO. 7556 LOCATED AT THE NORTHEAST CORNER OF TORRE AVENUE AND RODRIGUES AVENUE DEVELOPER PINN BROTHERS CONSTRUCTION INC. ACCEPTING CERTAIN EASEMENTS; AUTHORIZING SIGNING OF FINAL MAP AND IMPROVEMENT PLANS; AUTHORIZING THE EXECUTION OF AGREEMENT IN CONNECTION THEREWITH WHEREAS, there has been presented to the City Council for approval and for authorization to record final map of Tract No. 7556 located at the northeast corner of Torre Avenue and Rodrigues Avenue showing certain avenues, drives, places and roads by Pinn Brothers Construction, Inc. ; and WHEREAS, there has been presented to the City Council a proposed agreement for the construction of streets, curbs, and gutters, and for other improvements, and good and sufficient bonds, fees, and deposits as set forth in Exhibit "A" having been presented for the faithful performance of said work and the carrying out of said agreement, and said map, agreement, and bonds having been approved by the City Attorney; NOW, THEREFORE, BE IT RESOLVED THAT a. Said final map and improvement plans of Tract No. 7556, be and the same are hereby approved. b. The offer of dedication for roadway and for easements is hereby accepted. c. The City Engineer and the City Clerk are hereby authorized to sign said final map. d. The City Engineer is hereby authorized to sign the improvement plans. e. The Mayor and the City Clerk are hereby authorized to execute the agreement herein referred to. PASSED AND ADOPTED at a regular meeting of the City Council of the City of Cupertino on this 21st day of February , 1984 by the following vote: Vote Members of the City Council AYES: Gatto, Johnson, Rogers, Sparks, Plungy NOES: None ABSENT: None ABSTAIN: None ATTEST: APPROVED: /s/ Allison Villarante /s/ John J. Plungy, Jr. Deputy City Clerk Mayor, City of Cupertino Resolution No. 6274 ' EXHIBIT "A" SCHEDULE OF BOND, FEES, AND DEPOSITS DEVELOPMENT: Tract No. 7556 DEVELOPER: Pinn Brothers Construction, Inc. LOCATION: Northeast Corner of Torre Avenue and Rodrigues Avenue PART A. FAITHFUL BERFORMANCE BOND: COMMON AREA AND OFFSITE $115,QQ0.00. LANDSCAPE AND IRRIGATION $ 58,000.00 RECREATION FACILITIES $ 40,000.00 PART B. LABOR AND MATERIAL BOND: COMMON AREA AND OFFSITE $115,000.00 LANDSCAPE AND IRRIGATION $ 58,Q00..QQ RECREATION FACILITIES $ 4Q,0.Q0.00 PART C. CHECKING AND INSPECTION FEE: COMMON AREA $ 4,600.00 LANDSCAPE AND:IRRIGATION' $ 2,320.00 PART D. INDIRECT CITY EXPENSES: $ 1,038.00 One Thousand Thirty-Eight and no/100 Dollars PART E. DEVELOPMENT MAINTENANCE DEPOSIT $ 835.00 Eight Hundred Thirty-Five and no/100 Dollars PART F. STORM DRAINAGE FEE: $ 5,323.00 Five Thousand Three Hundred Twenty-Three and no/100 Dollars PART G. ONE YEAR POWER COST: $ 36.00 Thirty-Six and no/100 Dollars PART H. STREET TREES: BY DEVELOPER PART I. MAP CHECKING FEE: $ 178.00 One Hundred Seventy-Eight and no/100 Dollars TRACT AGREEMENT This AGREEMENT, made and entered into this , 21st day of February , 19 84 , by and between the CITY OF CUPERTINO, a municipal corporation of the State of California, hereinafter designated as CITY, and PINN BROTHERS CONSTRUCTION, INC. , hereinafter designated as DEVELOPER. WITNESSETH WHEREAS, said DEVELOPER desires to subdivide certain land within the City of Cupertino in accordance with the map heretofore filed with the City Council of the City of Cupertino, marked as designated Tract 7556, Cupertino California, hereinafter designated as the "Tract; " and WHEREAS, said map shows certain courts, drives and roads which are offered for dedication for public use; and WHEREAS, CITY hereby ,approves the improvement plans and specifications prepared for the Tract by Creegan and D'Angelo, a true copy of said improvement plans and specifications are on file in the Office of the City Engineer of Cupertino; and WHEREAS, the same are incorporated herein by reference, the same as though set out in full; NOW, THEREFORE, said improvement plans and specifications shall be hereinafter called the "Plans, " and the work to be done under the Plans shall be called the "Work. " WHEREAS; pursuant to the provisions of this AGREEMENT, the CITY hereby established the amounts of Bonds, Fees, and Deposits as set forth in the following schedule: SCHEDULE OF BONDS, FEES AND DEPOSITS PART A. Faithful Performance Bond: Common Area and Offsite $115,000 . 00 Landscape and Irrigation $ 58,000 . 00 Recreation Facilities $ 40 ,000 . 00 PART B. Labor and Material Bond: Common Area and Offsite $115,000 . 00 Landscape and Irrigation $ 58, 000.00 Recreation Facilities $ 40 , 000. 00 PART C. Checking and Inspection Fee: Common Area $ 4, 600 .00 Landscape and Irrigation $ 2, 320 .00 PART D. Indirect City Expenses: $ 1,038. 00 One Thousand Thirty-Eight and no/100 Dollars PART E. Development Maintenance Deposit: $ 835. 00 Eight Hundred Thirty-Five and no/100 Dollars PART F. Storm Drainage Fee: $ 5, 323. 00 Five Thousand Three Hundred Twenty-Three and no/100 Dollars PART G. One Year Power Cost: $ 36. 00 Thirty-Six and no/100 Dollars PART H. Street Trees: By DEVELOPER PART I. Map Checking Fee: $ 178. 00 One Hundred Seventy-Eight and no/100 Dollars Pane 2 • PART J. Park Fee: Zone I-1: $ 73,710 .00 Seventy-Three Thousand Seven Hundred Ten and no/100 Dollars PART K. Water Main Extension Deposit N/A PART L. Torre/Stevens Creek Blvd. Traffic Signal: 2. 6% Contribution of $85, 000 .00 $ 2, 210 .00 PART M. Maps and/or Improvement Plans: By DEVELOPER NOW, THEREFORE, IT IS HEREBY MUTUALLY AGREED by and between the parties hereto as follows, TO WIT: 1. INSTALLATION OF WORK It is further agreed that: A. The DEVELOPER shall install and complete the Work within one (1) year from the date of execution of this AGREEMENT, or such longer period as may be specifically authorized in writing by the City Engineer. In the event the DEVELOPER fails or refuses to complete the Work within the specified period of time, the CITY, at its sole option, shall be authorized to complete the Work in whatever manner the CITY shall decide. In the event the CITY completes the Work, the CITY may recover any and all costs incurred thereby from the DEVELOPER or the DEVELOPER' S surety or both. B. The DEVELOPER shall install and complete the Work in a good and workmanlike manner in accordance with the Plans as approved by the City Engineer of Cupertino. The Work shall be performed under the inspection and with the approval of the City Engineer. The work shall be done in accordance with the existing ordinances and resolutions of the City of Cupertino, and in accordance with all plans, specifications, standards, sizes, lines and grades approved by the City Engineer. The Work shall be done in accordance with all State and County Statutes applicable thereto. The decision of the City Engineer shall be final as to whether any material or workmanship meets the standards, specifications, plans, sizes, lines and grades as set forth. C. It is further agreed that the Work shall be done in accordance with the most current Standard Specifications of the Department of Public Works, California Department of Transportation, State of California, and in accordance with the specifications of the Cupertino Sanitary District where applicable. Wherever the words "State" or "California Division of Highways" are mentioned in the State Specifications, it shall be considered as referring to the CITY of Cupertino; also wherever the "Director" or "Director of Public Works" is mentioned, it shall be considered as referring to the City Engineer. Page 3 • •In • case of conflict between the State Specifications and the • specifications of the CITY and/or the Cupertino Sanitary District, the specifications of the CITY and/or the Cupertino Sanitary District shall take precedence over and be used in lieu of such conflicting portions. 2. EXCAVATION PERMIT - It is further agreed that the DEVELOPER shall comply with Section Three of Ordinance No. 130 of the CITY by obtaining an excavation permit from the City Engineer before the commencement of any excavation in, on, or under the surface of any existing public street, lane, alley, sidewalk, or other public place. It is further agreed that the DEVELOPER shall notify the City Engineer of the exact date and time when the proposed excavation is to commence. 3. QUITCLAIM DEED It is further agreed that the DEVELOPER, when requested by the CITY, shall quitclaim all his rights and interests in, and shall grant to CITY authorization to extract water from the underground strata laying beneath said project and DEVELOPER agrees to execute a "Quitclaim Deed and Authorization" in favor of CITY, when presented to him for signature. 4. BONDS AND OTHER SECURITY A. Upon the execution of this AGREEMENT, the DEVELOPER shall file with the CITY a faithful performance bond to assure his full and faithful performance of this AGREEMENT. The penal sum of said faithful performance bond shall be the full cost of any payment to be made under this AGREEMENT, the value of any land agreed to be dedicated, and any improvements to be made under this AGREEMENT. In the event that improvements are to be made under this AGREEMENT, the DEVELOPER shall, in addition to said faithful performance, file with the CITY a labor and materials bond in a penal sum adequate to assure full payment of all labor and materials required to construct said improvements. The amount of said bonds shall be as designated by the City Engineer. Said bonds shall be executed by a surety company authorized to transact a surety business in the State of California and must be approved by the City Attorney as to form and by the City Engineer as to sufficiency. In the event that the DEVELOPER shall fail faithfully to perform the covenants and conditions of this AGREEMENT, or to make any payment, or any dedication of land, or any improvements herein required, the CITY shall call on the surety to perform this AGREEMENT or otherwise indemnify the CITY for the DEVELOPER'S failure to so do. B. In lieu of a surety bond, the DEVELOPER may elect to secure this AGREEMENT by depositing with the CITY: 1. Cash; or, 2. A cashier' s check, or a certified check payable to the order of the City of Cupertino or, 3. A certificate of deposit, or instrument of credit meeting the requirements of Government Code Section 66499 (b) or (c) . Paae 4 • C.. The amount of said cash, checks, certificate of deposit, or instrument of credit shall be as designated by the City Engineer, and shall be the equivalent to that which would have been required had the DEVELOPER furnished the CITY with a surety bond. In the event that the DEVELOPER shall fail faithfully to perform the covenants and conditions of this AGREEMENT, or to make any payment, or any dedication of land, or any improvements herein required, the CITY may apply the proceeds of said security thereto. D. No release of surety bond, cash deposit, check, or certificate of deposit, shall be made except upon approval of the City Council. E. No interest shall be paid on any security deposited with the CITY. 5. CHECKING AND INSPECTION FEE It is further agreed that DEVELOPER shall pay any and all necessary direct expenses for inspection, checking, etc. , incurred by CITY in connection with said Project, and that DEVELOPER shall have deposited with CITY, prior to execution of this AGREEMENT, the amount as set forth herein at Page 2 (Part C) . Should construction cost vary materially from the estimate from which said sum is calculated, the City Engineer shall notify DEVELOPER of any additional sum due and owing as a result thereof. 6. INDIRECT EXPENSES It is further agreed that DEVELOPER shall pay to CITY, prior to execution of this AGREEMENT, indirect expense allocable to processing these improvements, the amount as set forth herein at Page 2 (Part D) . 7. MAP FILING FEE It is further agreed that the DEVELOPER shall deposit with CITY, prior to execution of this AGREEMENT, for office checking of final map and field checking of street monuments, in compliance with Section 4:1 of Ordinance No. 47 (Revised 12/04/61) of CITY, the amount as set forth herein at Page 2 (Part I) . 8. DEVELOPMENT MAINTENANCE DEPOSIT It is further agreed that the DEVELOPER shall pay to the CITY, prior to execution of this AGREEMENT, the amount set forth herein at Page 2 (Part E) as a development maintenance deposit to insure proper dust control and cleaning during the construction period. The development maintenance deposit may be utilized for repairs of defects and imperfections arising out of or due to faulty workmanship and/or materials appearing in said work during the period until release of the improvement bonds by the CITY. Should the DEVELOPER complete the required repairs to the entire satisfaction of the CITY, the unused balance will be returned after the release of the improvement bonds. Page 5 • 9.• STORM DRAINAGE FEE ' It is further agreed that the DEVELOPER shall deposit with the CITY, prior to execution of this AGREEMENT, a storm drainage charge in connection with said Project in accordance with the requirements established in Resolution 4422, March 21, 1977, in the amount as set forth herein at Page 2 (Part F) . 10 . ONE YEAR POWER COST It is further agreed that the DEVELOPER shall pay to CITY prior to execution of this AGREEMENT, the amount as set forth herein at Page 2 (Part H) , which amount represents the power cost for street lights for one year. 11. THE INSTALLATION OF STREET TREES It is further agreed that the DEVELOPER shall, at such ' time as deemed appropriate by the City Engineer, plant street trees in conformance with the standards of the City of Cupertino. Variety of tree shall be selected from the City approved list. 12. PARK FEES It is further agreed that the DEVELOPER shall pay such fees and/or dedicate such land to the CITY, prior to execution, as is required within "Park Dedication Ordinance" Number 602, 1972, and which is further stipulated under Part J, Page 3 herein. 13 . MAINTENANCE OF WORK It is further agreed that the DEVELOPER shall maintain the Work: A. For a period of one (1) year after acceptance of the Work by the City Council of the City of Cupertino, or B. Until all deficiencies in the Work are corrected to conform to the Plans and the CITY standards and specifications for the Work, whichever is the later to occur. The DEVELOPER shall, upon written notice • thereof, immediately repair or replace, without cost or obligation to the City of Cupertino, and to the entire satisfaction of said CITY, all defects and imperfections arising out of or due to faulty workmanship and/or materials appearing in said Work. Page 6 • •14. SANITARY DISTRICT It is further agreed that the • DEVELOPER shall file with CITY, upon execution of this AGREEMENT, a letter from the Cupertino Sanitary District stating that the DEVELOPER has entered into a separate AGREEMENT with the said District to install sanitary sewers to serve all lots within said Project and stating that a bond to insure full and faithful performance of the construction of the said sanitary sewers and to insure maintenance of said sanitary sewer in conformance with the provisions as set forth in Paragraph 13 above has been filed. 15. BUSINESS AND PROFESSIONS CODE It is further agreed that DEVELOPER shall file with CITY, upon execution of this AGREEMENT, substantial evidence that all provisions of Section 11603, Article 8, Chapter 4 of the Business and Professions Code, pertaining to special assessments or bonds, have been complied with. 16. CENTRAL FIRE DISTRICT It is further agreed that the DEVELOPER shall file with the CITY, upon execution of this AGREEMENT, a letter from the Central Fire Protection District of Santa Clara County, stating that the DEVELOPER has entered into an AGREEMENT with said District to install fire hydrants to serve said Project and stating that all necessary fees have been deposited with said District to insure installation and five (5 ) year rental fee of said hydrants. 17. STREET LIGHTING - P. G. and E. RATE SCHEDULE SHALL APPLY It is further agreed that the DEVELOPER shall apply• for the installation of electric power for street lighting at the earliest date possible. 18 . PACIFIC GAS AND ELECTRIC/PACIFIC TELEPHONE AND TELEGRAPH It is further agreed that the DEVELOPER shall pay to Pacific Gas and Electric Company and/or to Pacific Telephone and Telegraph Company any and all fees required for installation of overhead and/or underground wiring circuits to all electroliers within said property and any and all fees required for undergrounding as provided in Ordinance No. 331 of CITY when DEVELOPER is notified by either the City Engineer or the Pacific Gas and Electric Company and/or Pacific Telephone and Telegraph Company that said fees are due and payable. 19 . EASEMENTS AND RIGHT-OF-WAY It is further agreed that any easement and right-of-way necessary for completion of the Project shall be acquired by the DEVELOPER at his own cost and expense. It is provided, however, that in the event eminent domain proceedings are required by the • Page 7 CITY for the purpose of securing said easement and right-of-way, that the DEVELOPER shall deposit with CITY a sum covering the reasonable market value of the land proposed to be taken and to be included in said sum shall be a reasonable allowance for severance damages, if any. It is further provided that in addition thereto, such sums as may be required for legal fees and costs, engineering, and other incidental costs in such reasonable amounts as the CITY may require shall be deposited with the City of Cupertino. 20 . HOLD HARMLESS It is further agreed that, commencing with the performance of the Work by the DEVELOPER or his contractor and continuing until the completion of the maintenance of the Work as provided in Paragraph 13 above, the DEVELOPER shall indemnify, hold harmless and defend the CITY from and against any or all loss, cost, expense, damage or liability, or claim thereof, occasioned by or in any way whatsoever arising out of the performance or nonperformance of the Work or the negligence or willful misconduct of the DEVELOPER or the DEVELOPER'S agents, employees and independent contractors. 21. INSURANCE It is further agreed that: The DEVELOPER shall take out, or shall require any contractor engaged to perform the• Work to take out, and maintain at all times during the performance and maintenance of the Work called for or required to be done hereunder, a policy of insurance naming the CITY and members of the City Council of the City of Cupertino, individually and collectively, and the officers, agents and employees of the City individually and collectively, as insured. Said separate policy shall provide bodily injury and property damage coverage to the foregoing named CITY and individuals covering all the Work performed by, for, or on behalf of said DEVELOPER. Both bodily injury and property damage insurance must be on an occurrence basis; and said policy or policies shall provide that the coverage afforded thereby shall be primary coverage to the full limit of liability stated in the declarations, and if the city, its members of the City Council individually and collectively, and the officers, agents, and employees of the CITY, individually and collectively, have other insurance against the loss covered by said policy or policies, that other insurance shall be excess insurance only. A. Each of said policies of insurance shall provide coverage in the following minimum amounts: For bodily injury, $100 ,000 each person; $300,000 each occurrence, property damage, $50,000 on account of any one occurrence with an aggregate limit of not less than $200, 000 . B. The DEVELOPER shall file with the City Engineer at or prior to the time of execution of this AGREEMENT by the DEVELOPER such evidence of said foregoing policy or policies of insurance as shall be satisfactory to said City Engineer. Each Page 8 • such policy or policies shall bear an endorsement precluding the cancellation or reduction in coverage without giving the City Engineer at least ten (10 ) days advance notice • thereof. C. In the event that the Project covered herein should be mutually situated in or affect the area of jurisdiction of a separate municipality or political subdivision of the State of California, the policies of insurance required herein and above shall co-name such municipality or political subdivision and the provision set forth herein and above for the protection of the CITY shall equally apply to municipality and political subdivision. 22. WATER MAIN EXTENSION DEPOSIT The DEVELOPER further agrees to deposit with the CITY those monies required to comply with "Policy on Water Main Extensions Work and Deposits" dated September 9, 1977. The deposit shall be held by the CITY until said monies are needed to implement improvements outlined by the Director of Public Works or improvements outlined within an adopted Water Master Plan. The amount shown herein at PART K, Page 3, shall be the full amount due. 23. MAPS AND/OR IMPROVEMENT PLANS It is further agreed that the DEVELOPER shall furnish CITY with the following maps and/or plans at his own expense: A. A mylar sepia and seven (7) prints of fully executed parcel maps. B. A mylar sepia and thirteen (13 ) prints of fully executed tract maps. C. A mylar sepia and eleven (11) prints of fully executed improvement plans. D. A direct duplicating silver negative microfilm aperature card of all executed improvement plans and maps. It is agreed that the sepia, prints and microfilm of maps will be furnished within one month following recordation at the County of Santa Clara. It is also agreed that the sepia, prints and microfilm for improvement plans will be furnished within one month following the signing of the plans by the CITY. 24. TERMS AND CONDITIONS It is further agreed that the above named terms and conditions for the said Tract shall bind the heirs, successors, administrators or assigns of the DEVELOPER. The assignment of this AGREEMENT shall not be made without approval by the City Council of said CITY. Page 9 25. AREAWIDE IMPROVEMENTS The DEVELOPER agrees to participate in his proportionate share of major off-site improvements of a local or communitywide nature as identified in the General Plan. Said Agreement shall include but not be limited to the following methods of fulfilling said obligation to participate. 1. Funded directly. 2. Funded through as assessment district. 3 . Payment of construction tax in effect at thetime of occupancy. • 4 . Any other method deemed appropriate by the City Council. IN WITNESS WHEREOF, CITY has caused its name to be hereunto affixed by its Mayor and City Clerk, thereunto duly authorized by resolution of the City Council and said DEVELOPER has hereunto caused his name to be affixed the day and year first above written. CITY OF CUPERTINO - Approved as to form: ` 1-�-�QP1 , Mtn J C City A orn- S' Clerk: I 1 , DEVELOPER: . B y. er Lvt " Notary Acknowledgment Required. Page 10 STATE OF CALIFORNIA e/49-4- / On this 7 ay of �� y in the year COUNTY OF -S4-Nri- e/4i 4- /sl V before me CAA,'les N. am.4 1.4,2fly , a Notary Public, State of California, duly commissioned and swornpersonally appeared ' /4u' N K. #%n) cxAacStABC: GICBGxScc�ccscx0cc.9cc�cc?cc9449 personally known to me(. ) SOFFICIAL SEAL 8 to be the paS/Oyfit/)— of the corporation • p CHARLES W. BOMMARITO g that executed the within instrument, and also known to me to be the T. NOTARY PUBLIC-CALIFORNIA�� le person who executed the within instrument on behalf of the corpora- SANTA CLARA COUNTY My Commission Expires Jan.9,1987 tion therein named, and acknowledged to me that such corporation executed RN,0:9Ga7GY.90: OQGYaGYSOIBGYSGABGSBGYBOQG7;: the same . IN WITNESS WHEREOF I have h-reunto set my hand and affixed my official seal in the a I County of ,' ,ludo t ,er„vonlyageneralf may prop„f„ „ „ ill use In gAiLdrA' CA4'R* on / foe in this cerci Cate. trmvaavu a]m0 way a a orb unmdm to act as a stab,ly me , ICl 01110dell@afey.111ap1Y616fhH9Mmake any waneNyeYaete, 0asuImpliodasb me legal eaoa+Y or eny woemore net/of Mese farm N any spectre tame:bon' Notary Public, State of California Cowdery's Form No.28—Acknowledgement to Notary Public—Corporation(C.C.Secs.1190-1190.1) My rnmmiccinn avnirac - 1-.147 - - - - - •. •. • T >a- Certificate of Insurance - °cord THIS CERTF7CATE IS ISSUED AS A MATTER OF INFORMATION ONLY PND. CONFERS HO RIGHTS UPON'THE CERTIFICATE HOLDER., al THIS TH5 CERTIFICATE DOES NOT AMEND,EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES LISTED BELOW.. NAME AND ADDRESS OF AGENCY _ COMPANIES AFFORDING COVERAGES TeifeTd & Co. Insurance Services, Inc. - . P 0 Box 335 - COMPANY A Campbell, CA 95009-0335 Maryland Casualty Co. COMPANY B LETTER NAME AND DDRESS QF INSURED p PDertl n 'i own,.Homes A ,T COMPANY i n Brotohers ons rdc ion,Couc. LETTER 2470 South Winchester Blvd. COMPANY Il Campbell , ICA 95008 LETTER COMPANY E LETTER This is to certify that policies of insurance listed below have been issued to the insured named above and are in force at this time. Notwithstanding any requirement,term or condition of any contract or other document with respect to which this certificate may be issued or may pertain,the insurance afforded by the policies described herein is subject to all the terms,exclusions and conditions of such policies. COMPANY POLICY t Limits of Liability in Thousands(000) LETTER TYPE OF INSURANCE- POLICY NUMBER EXPIRATION DATE EACH AGGREGATE OCCURRENCE GENERAL LIABILITY BODILY INJURY S S ®COMPREHENSIVE FORM • ©PREMISES-OPERATIONS PROPERTY DAMAGE S S A ❑EXPLOSION AND COLLAPSE HAZARD El UNDERGROUND HAZARD ®�II PRODUCTS/COMPLETED OPERATIONS HAZARD SM 3440 43 47 11/1/84 BODILY INJURY AND E CONTRACTUAL INSURANCE PROPERTY DAMAGE Sr in BROAD FORM PROPERTY COMBINED 500, SOO, DAMAGE El INDEPENDENT CONTRACTORS ® PERSONAL INJURY PERSONAL INJURY - $500 AUTOMOBILE LIABILITY BODILY INJURY (EACH PERSON) S ❑ COMPREHENSIVE FORM BODILY INJURY S ❑ OWNED (EACH ACCIDENT) CI HIRED PROPERTY DAMAGE S BODILY INJURY AND ❑ NON-OWNED PROPERTY DAMAGE S COMBINED EXCESS LIABILITY BODILY INJURY AND . ❑ UMBRELLA FORM PROPERTY DAMAGE $ S ❑ OTHER THAN UMBRELLA COMBINED FORM _ WORKERS'COMPENSATION STATUTORY and EMPLOYERS'LIABILITY s (EACH ACCIDENT) OTHER • DESCRIPTION OF OPERATIONS/LOCATIONSNEHICLES Applies to tract 7556, Cupertino Town Homes See attached endorsement #7 for further wording. Cancellation: Should any of the above described policies be cancelled before the expiration date thereof, the issuing corn- - pany wilboodotxxxto mail 10 days written notice to the below named certificate holder,) both ) w72k tit)t5F7tti6 Raimeij& 38NINRRIdt jtS RTE#8&38EikARkRZURk NAME AND ADDRESS OF CERTIFICATE HOLDER; ' S 84 DATE ISSUED: ' - City of Cupertino / 10300 Torre Avenue - �- Cupertino, CA 95014 4 A _- ,_`J _ AUTHOR/.EPRES ATI • ACORD 25(I-79) ENDORSEMENT it is hereby agreed and understood that the following is shown as additional nod insured: City of Cupertino, and members of the City Council of the City of Cupertino, individually, and collectively, and the officers, agents, and employees of the City bndividually and collectively. They are aBso additional named insured for the Cupertino Town (fomes Poriect. Also, coverage afforded thereby shall be primary coverage to the full limit of liability - stated in the declarations, and if the city, its members, officers, agents, and em- ployees of the City, individually and collectively, have other insurance against the loss covered by said policy or policies, that other insurance shall be excess insurance only. Tract 7656 The information contained below is required only when this endorsement is issued subsequent to preparation of the policy. TRANS. This endorsement forms a port of Issued to And,iseffective on and after policyNoSM 34404347 Pian Brothers Construction, Inc. 2/9 34 Term Effective Date Expiration Dote Co. B.O. Producer Subject to Audit Stat.Plan 12 11/1/83 11/1/85 eifeld M-1 0-2 S/A-3 A-4 Prem.Bearing 150847 ID Non-Prem.Bearing Part. Rot'g. State Comm. Branch Office �e� Insurance -feld i3 Co. KIND OF BUSINESS PREMIUMS LINE CODE ADDITIONAL RETURN Bodily Injury $ $ Property Damage $ $ Collision $ $ • State C/R Fire A. P.D. Code Code District Miscellaneous $ $ Totals $ $ Net Additional or Return Premium $ $ Nothing herein contained shall be held to-vary, alter, waive or extend any of the terms, limits or conditions. of the policy, except as herein set forth. {,, Authorized Representative. EXTRA COPY Printed 42025 Ed.7-72 Rev. 12-79 U.S.A. 1 BOND NUMBER: 800612-S • ANNUAL PREMIUM $2.982.00 FAITHFUL PERFORMANCE AND COMPLETION II• RCVEME::T BOND (Subdivision Improvements) KNOW ALi, MEN BY ___SE PRESENTS: THAT WE, ************PJNN BROTHERS CONSTRUCTION INC.************** • as Principal and DEVELOPERS INSURANCE COMPANY, a California Corporation********* as Surety are held and firmly bound unto the City of Cupertino, State of California, in the sum of Common Area and Offsite- One Hundred Fifteen Thousand and no/100 Dollars ($115,000.0 Landscape and Irrigation - Fifty Eight Thousand and no/100 Dollars ($58,000.00) Recreation traciriUies - Fb"rty Thousand and no%IOO-Dollars ($40,0')U.00) lawful money of the United States , for the payment of which will and truly to be made, :e bind ourselves , our heirs , executors , successors and assigns , jointly and severally , firmly by these presents . THE CONDITION of the foregoing obligation is such that, WHEREAS, said Principal will perform all necessary improvements relative to Tract 7556 located at the northeast corner of Torre and Rodrigues 4n accordance with the approved Improvement Plans prepared by Creegan and D'Angelo Civil Engineer -fin file in the Engineer's Office, City of Cupertino. • WHEREAS, Improvements shall be completed within one (1) year from the date of Acceptance of this bond by the City Council. WHEREAS, Improvements shall be maintained for a period of at least one (1) year after acceptance of construction by the City. This bond shall be in full force and effect through the period of maintenance as provided in said contract. The maintenance period shall continue until such time that all deficiencies of construction are corrected to the satisfaction of the City Engineer's Office. r NOW, THEREFORE, if the said Principal shall well and truly do and perform all the covenants and obligations as set forth above, on its part to be done and performed at the time and in the manner specified therein, then this obligation shall be null and .itoid; otherwise this bond shall remain in full force and effect. IN WITNESS WHEREOF, this instrument has been duly executed by the Principal and Surety this 23rd. day of March , 19 84 . (To be signed by Principal and Surety I ,' and acknowledgment) PINN BROTHERS CON ACTION1 I Principal BY: L v ufAjtti„ ✓�/�_ DEVELOPERS TNSURANCE COMPANY Surety 2y: r .LC.I///./C...) : ttorney-in-Pae? SHEILA STEVENS The above bond is accepted and approved this day of • ATTORNEY-IN-FACT DICO /'+ !//. Developers Insurance Company It STATE of r �G�/—41P– �) COUNTY okt r.St ra2.4 } SS. on ...---62/4.-e7 .2.3 /9e* ,before me ai a Notary Public in and for said County and State,residing therein,duly commissioned and sworn,personally appeared ai X SHEILA STEVENS W personally known to me(or proved to me on the basis of satisfactory a, evidence)to be Attorney-in-Fact of DEVELOPERS INSURANCE COM- ��a'e@, OFFICIAL SEAL < PANT,the corporation described in and that executed the within and f !p T PENELOPE E.R.ATNIN ,� foregoing instrument,and known to me to be the person who exc. NOTARY PUBLIC-CALIFORNIA F r l F v CONTRA COSTA COUNTY I cuted the said instrument in behalf of the said corporation,and who l My Comm.. FXPIBS luly29,1987 f duly acknowledged to me that such corporation executed the same. 1 - - / J IN WITNESS WHEREOF,I have hereunto set my hand and affixed my official seal,the day'and year stated in thiscertificate above. i t I,,/ _ This area for Official Notarial Seal 111, . ' State of CAL ) on this 2�� day of IVICCCH , .in the )ss year _3E1_4_9 before me Charles W. Bomniarito 1 County of Santa Clara ) a Notary Public in and for said County and State, personally appeared 'Alan R. Finn ----- , personally known to vie (bt3CXXOY2NitXttKIMX3fdCXJfii4 faXi 3 anCig X X thigima to be the person who executed the 006,(94.90:59 .900 c.9 9N96,0“9“?c:94%.OFFIG3AL SEAli a within instrument as President S of the corporation on behalf of the corporation CHARLES W. BOMMARITO NOTARY PUBLIC-CALIFORNIA � therein named and acknowledged to me that such SANTA CLARA COUNTY c, corporation execu• -d same. U My Commission Expires Jan. 9,1987 i6aGY, W.KWYa MGY.W4 GQCQQ-,0:2cr.VGM WITNESS my ha• • : d/'ffici='-eal. /C Notary Public in and for said County - and State r State of CAL ) On this 231-C.IOar-CH of , in the )ss year I1 before me Charles W. Bommarito County of Santa Clara ) a Notary Public in and for said County and State, personally appeared Alan R. Pinn , personally known to me (35X)pflaX@fdCJCOXJM9tXG(}CXIGOLIA}6XKCXICXXKIKkgXXK4 9 eXrXK to be the person who executed the within instrument as President 9G,CSM SGADC MG-OCeCe ti9N9C495of the corporation on behalf of the corporation OFFICIAL SEAL G therein named and ac-nowledged to me that such ' 1 CHARLES W. BOMMARITO 1 ,.,: :r- #y corporation execut : same. s � NOTARY PUBLIC-CALIFORNIA crj P 2 ' •, SANTA CLARA COUNTY G 2 My Commission Expires Jan. 9, 1987 WITNESS my ha • o f' cial - - .1. // Notary Pu•lic in and for. said County and State STATE OF CALIFORNIA ) ss. COUNTY OF SANTA CLARA) On this day of day of in the year of , before me personally appeared personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to this instrument, and acknowledged that he (she or they) executed it. WITNESS my hand and official seal. Notary Public in and for the County of Santa Clara, State of California CORPORATION ACKNOWLEDGEMENT STATE OF CALIFORNIA ) ss. COUNTY OF SANTA CLARA) On this day of day of in the year of , before me personally appeared personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed the within instrument as president (or secretary) or on behalf of the corporation therein named and acknowledged to me that the corporation executed it. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal in the County of Santa Clara the day and year in this certificate first above written. Notary Public in and for the County of Santa Clara, State of California 'f' 6/29/82 BOND NUMBER: 800612A-S LABOR AND MATERIAL BOND PREMIUM INCLUDED (Subdivision Improvements) RNOW ALL MEN BY THESE PRESENT: • WHEREAS, the City of Cupertino, State of California, and ********PTNN BROTHERS CONSTRUCTION TNC ************** hereinafter designated as "Principal" have entered into or are about to enter into a contract providing for the installation, construction, and erection by Principal of certain improvements more particularly described in said contract; and WHEREAS, said Principal is required to furnish a bond in connection with said contract, providing that if said Principal, or any of his or its sub- contractors , shall fail to pay for any materials , provisions , provender or other supplies or teams used in, upon, for or about the performance of the work contracted to be done, or for any work or labor done thereon of any kind, the surety on said bond shall pay the same to the extent hereinafter set forth; NOW, THEREFORE, we, the Principal, and **********DEVELOPERS INSURANCE COMPANY************ as Surety, firmly bind ourselves , our executors, administrators , successors and assigns , jointly and severally, unto the City of Cupertino, and any and all materialmen, persons , companies , or corporations furnishing materials , provisions , provender or other supplies used in, upon, for or about the per- formance of the aforesaid work contracted to be executed or performed under the contract hereinabove mentioned, and all persons , companies or corporations lend- ing or hiring teams , implements or machinery, for or contributing to said work to be done, and all persons who perform work or labor upon the same, and all persons who supply both work and materials , whose claim has not been paid by Principal or by any other person, in the just and full sum of Common Area and Offsite - One Hundred Fifteen Thousand and no/100 Dollars ($115,000.00) Landscape and Irrigation - Fifty Eight Thousand and no/100 Dollars ($58.000,.00 Rerreatinn Facilities — Forty 'rh^^saad a-d no/100 Dollars ($40.000.00) THE CONDITION OF THIS OBLIGATION IS SUCH THAT if said Principal, his or its subcontractors , heirs , executors , administrators , successors or assigns , shall fail to pay for any materials , provisions , provender or other supplies or teams used in, upon, for or about the performance of the work contracted to be done, or for any work or labor thereon of any kind, or for amounts due under the Un- employment Insurance Act with respect to such work or labor, then said Surety will pay the same and also will pay in case suit is brought upon this bond, such reasonable attorney's fee as shall be fixed by the Court. This bond shall inure to the benefit of any and all persons , companies , and corporations entitled to file claims under Section 1184.1 of the Code of Civil Procedure, so as to give a right of action to them or their assigns in any suit brought upon this bond. • • Labor. and Nateriol. ilund Page 2 And the said Surety, for value received, hereby stipulates , and agrees • that rio change, extension of time, alteration or addition to the terms of the contract or to the work to be performed thereunder or the specifications accompanying the same shall in any wise affect its obligations on this bond, and it does hereby waive notice of any such change, extension of .time, alter- ation or addition to the terms of the contract or to the work or to the speci- fications . IN WITNESS WHEREOF, this instrument has been duly executed, by the Principal and Surety this 23rd. day of _ March , 19 84 . (To be signed by • ' Principal and Surety FINN BROTHERS CONI ' CTION. _ and acknowledgment Principal BY: I aplo , and notarial seal attached.) DEVELOPERS INSURANCE COMPANY _ Surety By: V,�� ML-) ,� .e..(.Q/4ia •. At2'orney-in-Fact SHEILA STEVENS a. The above bond is accepted and approved this _ day of , 19 • • ' j n State of r m. ) .On this 2° "' day of /1/4/10 Yrah , in the •1f, )ss year nc73ll , before me Charles W. Bommgrito County of Santa Clara ) a Notary Public in and for said County. and State, personally appeared Alan R. Pinn personally known to me 0004,ECONIKEdtiClaadidOLUMMENCiniisNiaZa9C 6kifiilfd@* to be the person who executed the “9“9cc9cx9ca0c.9CA.9 c9“9N9“9“9cc.9c5c OFFICIAL SEAL " within instrument as President �:\ g of the corporation on behalf of the corporation 6 , �,�y° CHARLES W. BOMMARITO 2 therein named and acknowledged to me that such #,-.a. NOTARY PUBLIC CALIFORNIA ry g 2 - SANTA CLARA G COUNTY corporation exec m-d same. 2 My Commission Expires Jan. 9, 1987 6 • ;49 n.9n:96WJcxnr. •--"r r-`,5' .9r. r.T0 WITNESS my h-n nd/ff/i.c/ia c -al. rr Notary Public in and for said County D. and State ATTORNEY-IN-FACT IDICO /7 Developers Insurance Company 'STATE of Ot rfl t4 _ COUNTY of ('�>r�- r_ } SS. On /i -2 W ,before me ▪ a Notary Public in and for said County and State,residing thercin,duly commissioned and sworn,personally appeared SHEILA STEVENS ' personally known to me(or proved to me on the basis of satisfactory • evidence)to be Attorney-in-Fact of DEVELOPERS INSURANCE COM- ▪ PANY,the corporation described in and that executed the within and 1�� PENELOPE E. R.ATKIN • foregoing instrument,and known to me to be the person who exe- a� NOTARY PUBLIC-CAUFORIJIA cutcd the said instrumentin behalf of the said corporation,and who. • '* CONTRA COSTA COUNTY duly acknowledged to me that suchcorporation executed the same. fdy Comm.Expires July'29. 1967 T' tiS.'s'.`."'�SSb'�•t7.'S'S�.S�`6�5�. „us, IN WITNESS WI-EREOP,I have hereunto set my hand and affixed my `Th official seal,the day and year stated in this certificate above. • / _ T /J t7 `' Tbis area for Official Notarial Sea! 8ienamrr STATE OF CALIFORNIA ) ss. COUNTY OF SANTA CLARA) • On this day of day of , in the year of , before me personally appeared personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to this instrument, and acknowledged that he (she or they) executed it. WITNESS my hand and official seal. •, Notary Public in and for the County of Santa Clara, State of California CORPORATION ACKNOWLEDGEMENT STATE OF CALIFORNIA ) ss. COUNTY OF SANTA CLARA) On this day of day of in the year of , before me , personally appeared personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed the within instrument as president (or secretary) or on behalf of the corporation therein named and acknowledged to me that the corporation executed it. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal in the County of Santa Clara the day and year in this certificate first above written. Notary Public in and for the County • of Santa Clara, State of California 6/29/82 State of CAL ) On this 23 I day of IQ 1'Ch , in the i'' )ss year 1q774, before me Charles W. Bommarito County of Santa Clara ) a Notary Public in and for said County and State, personally appeared Alan R. Pinn ,------ , personally known to me (acac tiliCa&Xxxt4atx ,xzx cxxxlxxxcc t7MxaoOv eXaKe5 to be the person who executed the 00GISL'OCASCADN9GOC-OVDMVSCOL-C9within instrument as President OFFICIAL SEAL 3 of the corporation on behalf of the corporation CHARLES W. BOMMARITO therein named and a knowledged to me that such A '' � NOTARY PUBLIC-CALIFORNIA 2 SANTA CLARA COUNTY 4 corporation exec t- . same. 2 My Commission Expires Jan, 9,1987 foamBoS%),DO..9 6)-7oCcraWOaG).9c). WITNESS my hail. _ . o/fticia gal. / W- // / / . 1 Notary Public in and for said County . and State r •POR'EA OF ATTORNEY No. 004774 DEVELOPERS INSURANCE COMPANY P.O. Box 3343,Anaheim, Calif. 92803' EXPIRATION DATE:,December 31,1984 . KNOW ALL MEN BY THESE PRESENTS:That DEVELOPERS INSURANCE COMPANY, A corporation,duly organized and existing under the laws of the State of California, and having:its.Home Office in the City of Anaheim,California,haade,constituted and appointed and/does by , /4 these presents make;constitute and appoint +' �„ Paul W. O 'Rear and Sheila. Stevens , Jointl o Severally its true and.lawful Attorney(s)inFact,specifically andonly on Contract Bonds,Court Bonds and M}}s%eellaneous Bond`s4rncludmg all Subdivision and D R.E Bonds, issued in the State Sala forums in an amount not exceeding in any single unddrtakinginaccordancewithiis charter and to bind the corporation thereby as fully and to the same extent as if such bonds were signed by the Presrddnksealed wvt�corporate seal of the co t oranen and duly attested by its Secretary, hereby ratifying and confuting the.acts of Attorney(s)-in Fact may do to these presents `r,X This power,of Attorney does not cover the following: .»..?. Bank depository bonds,mortgage:deficiency bonds,mot edge guaranteezbo guarantees of installntent-paper note g arantee bonds,bonds on financial institutions,lease bonds,insurance company qualifying band,,warobouse bonds,self insurer's bonds;fidelity bonds bad bon"dshiage law bonds,and bonds of Ne Exeat or fiduciary bonds. `f.-x [$ This power of attorney is granted pursuant,to-Article IV,\Section 11 d$2 ofBy-lasof DEVELOPER INS UnetPte COMPANY adopted on the thirtieth day of March,1979,and now in full force-and effecE t ' `! Article IV.AppointmentandAathonty oofResideritkssis'tontSec 6n`es,`and A'''.•, rney mFaeeand agents to ecceptLegalProcess and Make Appearances. we r Section R The Chavman of the Board,the44tas`i'danY aq VieePEomdent,any$eeretary or apyTreesurermay appoint attorneys in-fact oragente with power and authority,as defined or lunitedtheir in respectisva po'7e;of atdgrniy,for'end on behalf of the corporation to execute and deliver,and affixthe seal of the corporation thereto,bongs,undertakings recogniizances consents of shinty orothe wnifl obligations in the nature thereof and any of said officers may remove such attorney-in-fact or akent and invoke the pawer and authority grven`to him. Section 12.Any bond,undertaking;recognizance consent ofsutatyotwritten obligation in the nature thereof shallbe valid and bindinguponthe corporation when signed by the Chairman{of the Hoak the President,any ViceP.TeaidentoranyTreasurerand duly attested and sealed,if a seal is required,by any Secretary or when signed by the Chasm ofthe;Board the President,and Vice President or any Treasurer and countersigned and sealed,if a seal is required,by a duly authorized attorney-in-factoragentand any such bond/Undertaking,recognizanee,consent of surety or written obligation in the nature thereof shall be valid and binding upon the corporation whe'duly executed and sealed,if a seal is required by one or more attorneys-in-fact or agents pursuant to and within the limits of the authority granted'by his or theuzpnaers`.o�ttorney. ' This power of attorney is signed and sealed under and by authority of the following Resolution adopted by the Board of Directors of DEVELOPERS INSURANCE COMPANY at a meeting duly called and held on thethird day of August,1982,and that said Resolution has not been amended or repealed: "RESOLVED,that the signature of any Vice-Presidentor Assistant Secretary of this corporation,may be affixed or printed on any power of attorney,on any revocation of any power of attorney,orcertificate bearing such facsimile signature but shall not be valid and binding upon the corporation unless the seal of the corporation is affixed' on such power of attorney,revocation of any power of attorney,or certificate bearing a facsimile signature." NOTICE:1. This Power void unless corporate seal perforates power next to signatures. 2. This,Power void if altered or erased. 3. Power of attorney should not be returned to Attorney-in-Fact,but should remain a permanent part of the obligee's records. IN WITNESS WHEREOF,DEVELOPERS INSURANCE COMPANY has caused these presents to be signed by its Secretary,and its corporate seal to be hereunto affixed this third day of August,1982. DEVELOPERS'INSURANCE COMPANY BY/ I_ Alri / Paul E.Griffin,Jr.,Secre "o:'.' STATE OF CALIFORNIA COUNTY OF"LOS..ANGELES ss. On this thirtieth day of September,before the personally:came Paul E.'Griffin,Jr.,tome known who being by me duly sworn,did depose and say.that he is Secretary of DEVELOPERS INSURANCE COMPANY,the corporation described in and which executed the above instrument,that he knows the seal of said corporation;.that the seal affixed to the said instrument is such corporate seal;that itwas so affixed by,order of the Board of Directors of said corporation andthat he signed his name thereto by like order.