File #: A 13-053    Name: Amend 1 Fox Creek Subdivision Imps Agreement
Type: BoS Agreement Status: Passed
File created: 4/12/2013 In control: Public Works / RMA
On agenda: 4/23/2013 Final action: 4/23/2013
Title: a. Approve Amendment 1 to the Monterey County Subdivision Improvement Agreement Fox Creek Ranch, Phase II, with Carmel Cutting Horses, Inc to update the Engineer’s Estimate to complete the subdivision improvements, extend the time for completion of the improvements, and substitute the type of security for the improvements; b. Accept the Deed of Trust as security for performance of the amended Monterey County Subdivision Improvement Agreement Fox Creek Ranch, Phase II; c. Authorize the Chair of the Board to execute Amendment 1 to the Monterey County Subdivision Improvement Agreement Fox Creek Ranch Phase II; and d. Approve the release of the Faithful Performance Bond in the amount of $1,621,620 and the Laborers and Materialmen Bond in the amount of $810,810 issued by the Insurance Company of the West (Bond No. 2187518) for infrastructure improvements.
Sponsors: Public Works / RMA
Attachments: 1. Subdivision Improvement Agr. Fox Creek Ranch Phase II Amendment 1, 2. Deed of Trust, 3. Subdivision Improvement Agr. Fox Creek Ranch Phase II, 4. Notice of Completion from Engineer, 5. Location Map, 6. Completed Board Order
Title
a. Approve Amendment 1 to the Monterey County Subdivision Improvement Agreement Fox Creek Ranch, Phase II, with Carmel Cutting Horses, Inc to update the Engineer’s Estimate to complete the subdivision improvements, extend the time for completion of the improvements, and substitute the type of security for the improvements;
b. Accept the Deed of Trust as security for performance of the amended Monterey County Subdivision Improvement Agreement Fox Creek Ranch, Phase II;
c. Authorize the Chair of the Board to execute Amendment 1 to the Monterey County Subdivision Improvement Agreement Fox Creek Ranch Phase II; and
d. Approve the release of the Faithful Performance Bond in the amount of $1,621,620 and the Laborers and Materialmen Bond in the amount of $810,810 issued by the Insurance Company of the West (Bond No. 2187518) for infrastructure improvements.

Report
RECOMMENDATIONS:
a. Approve Amendment 1 to the Monterey County Subdivision Improvement Agreement Fox Creek Ranch, Phase II, with Carmel Cutting Horses, Inc to update the Engineer’s Estimate to complete the subdivision improvements, extend the time for completion of the improvements, and substitute the type of security for the improvements;
b. Accept the Deed of Trust as security for performance of the amended Monterey County Subdivision Improvement Agreement Fox Creek Ranch, Phase II;
c. Authorize the Chair of the Board to execute Amendment 1 to the Monterey County Subdivision Improvement Agreement Fox Creek Ranch Phase II; and
d. Approve the release of the Faithful Performance Bond in the amount of $1,621,620 and the Laborers and Materialmen Bond in the amount of $810,810 issued by the Insurance Company of the West (Bond No. 2187518) for infrastructure improvements.

SUMMARY/DISCUSSION:
On July 10, 2007, the Board of Supervisors approved the Final Map and Subdivision Agreements for the Fox Creek Ranch Subdivision, Phases I and II. The Subdivider, Carmel Cutting Horses, Inc., has fulfilled the condi...

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