HomeMy WebLinkAboutResolution 2001-076 release of assurance for the links at continental ranchMARANA RESOLUTION NO. 2001-76
A RESOLUTION OF THE MAYOR AND COUNCIL OF THE TOWN OF MARANA, ARIZONA,
AUTHORIZING THE RELEASE OF THE ASSURANCE AGREEMENT BETWEEN
SOUTHWEST VALUE PARTNERS 1V LIMITED PARTNERSHIP, SVP L/NKS, L.L.C., FIRST
AMERICAN TITLE INSURANCE COMPANY, AND TOWN OF MARANA FOR BLOCKS 1
THROUGH 5.
WHEREAS, The Links at Cominental Ranch is a subdivision located west of Imerstate
Highway 10, north of Arizona Pavilions Road, and recorded in the Pirna County Recorder's Office
in Book 50 of Maps and Plats, Page 34; and
WHEREAS, the Town previously entered into an Assurance Agreement between Southwest
Value Partners IV Limited Partnership, SVP Links, L.L.C. (beneficiary) under Trust No. 4737 &
4738 and First American Title Insurance Company (trustee), recorded at the Pima County Recorder's
Office at Docket 10653, Page 962 assuring the completion of public improvemems; and
WHEREAS, The Town of Marana approved a Specific Plan Amendment for Continental
Ranch which eliminated the need for the construction of infl'astructure improvemems through
Resolution 98.25
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council oftbe Town of Marana
as follows:
Section 1. The Links at Continental Ranch, Blocks 1 through 5, are hereby released
fi.om the Assurance Agreement between Southwest Value Partners IV Limited Patlaership,
SVP Links, L.L.C. (beneficiary) under Trust No. 4737 & 4738 and First American Title
Insurance Company (tmstec).
PASSED AND ADOPTED by the Mayor and Cotmcil of the Town of Marana, Arizona, tbJs
19~ day of June, 2001.
ATTEST:
APPROVED AS TO FORM:
As Town Attorney and not personally
ayor B~BB~ ~TTON, JR.
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