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85-023 DeAnza Group Developers Tract 7694 @ November & Festival Drives - Reso 6584, 6594RESOLUTION NO. 6584 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO APPROVING THE FINAL MAP AND IMPROVEMENT PLANS OF TRACT NO. 7694 LOCATED AT NOVEMBER AND FESTIVAL DRIVES DEVELOPER, DEANZA GROUP ACCEPTING CERTAIN EASEMENTS; AUTHORIZING SIGN- ING 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. 7694 located along November and Festival Drives showing certain avenues, drives, places, and roads by De Anza Group; 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 7694, 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 the regular meeting of the City Council of the City of Cupertino on the 3rd day of June 1985, by the following vote: VOTE MEMBERS OF THE CITY COUNCIL AYES: Gatto, Plungy, Rogers, Sparks, Johnson NOES: None ABSTAIN: None ABSENT: None ATTEST: APPROVED: /s/ Dorothy Cornelius City Clerk /s/ Phil N. Johnson Mayor Resolultion No. 658 EXHIBIT "A" SCHEDULE OF BOND, FEES, AND DEPOSITS DEVELOPMENT: Tract No. 7694 DeAnza Group LOCATION: November and Festival Drives A. Faithful Performance Bond $ 320,000.00 Three Hundred Twenty Thousaand and no/100 Dollars B. Labor and Material Bond: $ 320,000.00 Three Hundred Twenty Thousand and no/100 Dollars C. Checking and Inspection Fee: $ 12,800.00 Twelve Thousand Eight Hundred and no/100 Dollars D. Indirect City Expenses: $ 512.00 Five Hundred Twelve and no/100 Dollars E. Map Filing Fee: $ 162.00 One Hundred Sixty -Two and no/100 Dollars F. Development Maintenance Deposit: $ 715.00 Seven Hundred Fifteen and no/100 Dollars G. Storm Drainage Fee: $ 8,514.00 Eight Thousand Five Hundred Fourteen and no/100 Dollars H. One Year Power Cost: $ 180.00 One Hundred Eighty and no/100 Dollars I. Street Trees: $ By Developer J. Park Fees: Zone No. "0" $ 105,299.00 One Hundred Twenty -Two Thousand Tow Hundred and no/100 Dollars Part K. Water Main Extension Deposit: $ N/A DEPOSIT FOR FUTURE IMPROVEMENTS AS SEPARATE AGREEMENT. T R A C T A. G R E E M E N T This AGREEMENT, made and entered into this ___ 3rd _ day of June 19 85 , by and between the CTIY OF CUPERTINO, a municipal corporation of the State of California, hereinafter designated as CITY and DE ANZA GROUP _ hereinafter designated as DEVELOPER. W I T N E S S E T H 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 and designated Tract 7694 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 Mac KAY & SOMPS a true copy of which 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." DEPOSIT FOR FRONTAGE ROAD: The Developer agrees to enter into an agreement to comply with Condition 17 of 13 -TM -84, Resolution 2572. Page 1 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: $ 320,000.00 Three Hundred Twenty Thousand and no/100 Dollars PART B. Labor and Material Bond: $ 320,000.00 Three Hundred Twenty Thousand and no/100 Dollars PART C. Checkinq and Inspection Fee: $ 12,800.00 Twelve Thousand Eight Hundred and no/100 Dollars PART D. Indirect City Expenses: $ 512.00 Five Hundred Twelve and no/100 Dollars PART E. Map Filing Fee: $ 162.00 One Hundred Sixty -Two and no/100 Dollars PART F. Development Maintenance Deposit: $ 715'.00 Seven Hundred Fifteen and no/100 Dollars PART G. Storm Drainage Fee:8,514.00 Eight Thousand Five Hundred Fourteen and no/100 Dollars PART H. One Year Power Cost: $ 180.00 One Hundred Eighty and no/100 Dollars PART I. Street Trees: $ By Developer PART J. Park Fees: Zone No. $ 105;299.00 One Hundred Twenty -Two Thousand Two Hundred and no/100 Dollars PART K. Water Main Extension Deposit: $ N/A DEPOSIT FOR FUTURE IMPROVEMENTS AS SEPARATE AGREEMENT. Page 2 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. In case of conflict between the specifications of the CITY and/or the specifications of the CITY District shall take precedence over conflicting portions. 2. EXCAVATION PERMIT State Specifications and the the Cupertino Sanitary District, and/or the Cupertino Sanitary and be used in lieu of such 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. Page 3 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). 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. Page 4 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). S. 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. 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. Page 5 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. 12./9 PARK FEE ADJUSTMENT PROVISIONS The Developer has questioned the value of the land used in establishing the "Park Fee" outlined herein. The City agrees to employ a qualified local appraiser to provide a market value of the land. The City agrees to recalculate the park fee based on the appraisal report. 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 workman- ship and/or materials appearing in said Work. 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. Page 6 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 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 Page 7 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 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. 2.2. 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. Page 8 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. 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. Approved as to form: 2 !' City A orney TO 446 C (Corporation as a Partner of a Partnership) CITY OF CUPE INO r: i y Clerk.,,,/ STATE, OF CALIFORNIA COUNTY OF ,t�/11.Q'J V22a, Z On before me, the undersigned, a Notary Public in and for s'ai'd Slate, personally appeared known to me to be the V-1 Ur_.Presid I nil Sem4d.wy of -4-4 the ivilhin insirtlownt an -d kn6vn to me In be the persons who eseculerl the within insirument on behalf of said corporation. gni( corps alion being kn wn M me to In one of the pm tners of i the partnership that excrnIed le wit lin instru rent, and acknowledged to me Ihat such corporation executed the same as such partner and Ihal such partnership exer•uted the gain(-. WITNESS nr I i 1 and oi6cial /'al Sigru+lure __ Name, ('Typed or 1'1-inte( the corporation that executed OFFICIAL SEAL SHARON S. MORGAN Notary Public-Califomla s SAN MATEO COUNTY My Comm. Exp. Oct 19,1988 (This area for official notarial seal) O mss' 10300 Torre Avenue Cupertino, California 95014 Telephone: (408) 252-4505 OFFICE OF THE CITY CLERK June 17, 1985 De Anza Group 411 Borel Avenue, Suite 410 San Mateo, California 94402 Cit'q of CNperti"o AGREEMENT FOR DEPOSIT --TRACT NO. 7694 P.O. Box 580 Cupertino, California 95015 We are enclosing to you for your files one (1) copy of the Agreement by and between the City of Cupertino and De Anza Group which.has been fully executed by City Officials, along with one (1) copy of Resolution No. 6594, which was enacted by the City Council of the City -of Cupertino, at their regular meeting of Monday, June 3, 1985. Sincere DOR HY COP.NEZIUS CITY CLERK CITY OF CUPERTINO DC/so encl. cc: Department of Public Works RESOLUTION NO. 6594 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO AUTHORIZING EXECUTION OF "AGREEMENT FOR DEPOSIT" WITH DE ANZA GROUP FOR CONSTRUCTION OF AN ACCESS ROAD IN CONJUNCTION WITH THE DEVELOPMENT OF TRACT NO. 7694, NOVEMBER AND FESTIVAL DRIVES. WHEREAS, in conjunction with the development of Tract No. 7694, located along Festival Drive and November Drive, the Developer, De Anza Group, is required to contribute towards the cost of the future construction of an access road; and WHEREAS, in order to comply with the condition of cost contribution, there has been presented to the City Council for execution an "Agreement for Deposit" between the City and De Anza Group; and WHEREAS, the terms and conditions, and procedure for depositing funds are more fully specified in the proposed aforementioned agreement, and said agreement has been reviewed and approved by the Director of Public Works and the City Attorney; NOW, THEREFORE, BE IT RESOLVED, that the Mayor and the City Clerk are hereby authorized to execute the aforementioned agreement in behalf of the City of Cupertino. PASSED AND ADOPTED at a regular meeting of the City Council of the City of Cupertino this' 3rd day of June , 1985 by the following vote: Vote Members of the City Council AYES: Gatto, Plungy, Rogers, Sparks, Johnson NOES: None ABSENT; None ABSTAIN: None ATTEST: APPROVED: /s/ Dorothy Cornelius City Clerk /s/ Phil N. Johnson Mayor, City of Cupertino AGREEMENT FOR DEPOSIT THIS AGREEMENT FOR DEPOSIT is entered into this 3rd day of June, 1985, by and between DE ANZA GROUP, a California limited partnership (hereafter "Developer"), and THE CITY OF CUPERTINO, a municipal corporation (hereafter the "City"). RECITALS: A. Developer is the developer of that certain parcel of real property consisting of approximately six and 7/1.0 acres located north and east of November Drive, in the City of Cupertino, County of Santa Clara, State of California (here- after the "Property"). The Property is more particularly described in Exhibit "A" attached hereto and incorporated by reference herein. B. Developer is the applicant in Application 13 -TM -84 (hereafter the "Application") for a tenative subdivision map for the Property which Application was approved by City on October 15, 1984. C. One of the conditions to City's approval of the Application requires Developer to contribute a cash deposit toward the cost of construction of an access road (hereafter the "Access Road") from Orogrande over the Highway 85 Frontage Road across Regnart Creek to the adjoining property to the East of Developer's Property. D. The purpose of this Agreement is to implement said condition to City's approval of the Application. NOW, THEREFORE, in consideration of the mutual convenants contained herein, and for other good and valuable consideration, the parties agree as follows: 1. Deposit. In c_oiisideration of and as a condition to the approval by City of the Developer's final subdivision map of the Property, Developer shall pay to City a deposit (Hereafter the "Deposit") in cash toward the construction of the Access Road. The amount of the Deposit shall be calcul.ated.pursuant to Paragraph 2 below. 2. Calculation of Deposit. The amount of the deposit shall be calculated by multiplying:' - I - a) The total estimated cost of the Access Road which is estimated by Mackay & Somps to be _ 124., Opo_ by, b) That fraction, the numerator of which shall be the acerage of the Property. The denominator shall be all of the Acreage shown in Exhibit B, attached hereto, and incorporated herein. Fraction = 6.7 = 55% 12.100 3. Payment of Deposit. The Deposit shall be paid to City on or before the earlier of the expiration of the twelve (3.2) month period commencing with the recordation of the final subdivision map of the Property, or in thirty- one (31) equal installments upon the close of escrow for the sale of each parcel in the subdivision. 4. Use of Deposit. The Deposit paid by Developer shall be used by City solely to pay the costs of construction of the Access Road. 5. Governing Law. This agreement shall be governed by and construed in accordance with the laws of the State of California. 6. Notices. All communications, notices, consents, approvals, and demands of any kind which any party may be required or desire to give to or serve upon the other party shall be made in writing and delivered by personal service to the other party or sent by registered or certified mail, postage prepaia, return receipt requested, to the following addresses: "Developer" De Anza Group c/o De Anza Associates, Inc. 411 Borel Avenue, Suite 410 San Mateo, California 94402 Attn: Colburn A. Jones, Jr. "City" City of Cupertino 10300 Torre Avenue Cupertino, California 95014 Attn: City Manager Any such notice, consent, approval, or demand sent by mail shall be deemed received forty-eight (48) hours after being deposited in the United States mail. The parties hereto from time to time may change the addresses set forth above by written notice of such change delivered to the other party in accordance with the provisions of this paragraph. - 2 - k u IN WITNESS Wji.EREOF, the parties hereto have executed this Agreement as of the date first above written Attachments: Exhibits "A" and "B" "Developer" DE ANZA BROUP, A California limited partnership TO 446 C (Corporation as a Partner of a Partnership) ISTATE OF CALIYORNIA 1 COUNTY OF, / M &!&.eD } SS. On �S 111 �hef alai said State, person ly appeared �' W ' Presiden , M W `fieerptt of � T the within instrument and k n to me to be the persons w to executed the within rostrum t on behalf of said corporation. snit .or ration being k wn to me to he one of the partners of t - N the partnership Ihst executed a within instrum .nt, and acknowledged to me that such cnr oration executed the same as such partner and that such partnership executed the same. WITNES, my and ofRcia seal. Signature s Name (Typed or Printer Reviewed and Approved:. �tyy Attorney (Z - 3 - ATTEST: rhe, the undersigned, a Notary Public in and for 2t�,, S' ' , known to me to be the I G� City Clerk the corporation that executed OFFICIAL SEAL j SHARON S. MORGAN Notary Public -California SAN MATED COUNTY My Comm. Exp. Oct. 19, 1988 (This area for official notarial anal) O W&alzl 1 \ .�, y