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COUNCIL AGENDA ITEM NO. 6
April 25, 2000
of Security—Pulte Homes
Jon Elam, City
Authorize the City Manager to execute the attached agreement concerning the replacement of security for certain subdivision improvements in the Blackhawk-Nunn Active Adult Community of Brentwood.
City and Blackhawk-Nunn entered into various subdivision improvement agreements.
These subdivision agreements required Blackhawk-Nunn to give the
City security in order to guarantee that the public improvements, required
as a condition of approval for these subdivisions, would be constructed
and installed. Recently,
Pulte Homes purchased from Blackhawk-Nunn the property that is subject
to the subdivision agreements and the associated security obligations.
The subdivision agreements require that the City approve any replacement of the subdivision security. Pulte Homes has requested that the City approve its replacement of the security posted by Blackhawk-Nunn with security posted by Pulte Homes. The City Attorney has reviewed the replacement security and has approved it as to form.
release of Blackhawk-Nunn’s security obligation does not release Blackhawk-Nunn
from all its other obligation to perform under the subdivision agreements.
In fact, Blackhawk-Nunn acknowledges that it continues to be bound
by all the other terms of the subdivision agreements except the obligation
to maintain its security deposit.
Pulte Homes has agreed to assume this security obligation.
Attachment: Agreement for replacement of Security (This may be viewed at City Hall)
City of Brentwood City Council
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Brentwood, CA 94513
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