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Meeting Date:   April 25, 2000  

Subject/Title:   Replacement of Security—Pulte Homes  

Submitted by:   Dennis Beougher, City Attorney  

Approved by:   Jon Elam, City Manager 


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.  


The 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.

The 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 Administration
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