HomeMy WebLinkAboutResolution 2003-159 release of assurance for continental reserve block 11SMARA
TOWN OF MARANA
ATTN: TOWN CLERK
13251 N L0N /%.DAMS RD
MARANA AZ 85653
F. JtNN RODRIGUEZ, RECORDER DOCKET: 12201
RECORDED BY: NMB P~%GE: 4163
DEPIITy RECORDER ~i0' OF PAGES: 5
1134 PE2 3EQUENCEz 20032440727
12/19/2003
16:45
MAIL
AMOUNT PAID $ 8.00
MARANA RESOLUTION NO. 2003-159
A RESOLUTION OF THE MAYOR AND COUNCIL OF THE TOWN OF MARANA,
ARIZONA, AUTHORIZING THE RELEASE OF THE ASSURANCE AGREEMENT
BETWEEN KB HOME TUCSON INC., FIRST AMERICAN TITLE INSURANCE COMPANY,
AND TOWN OF MARANA FOR LOTS 1 THROUGH 71 AND COMMON AREAS A, B, C &
D, AND ACCEPTING FOR MAINTENANCE THE PUBLIC IMPROVEMENTS IN
CONTINENTAL RESERVE BLOCK 11 (STONERIDGE).
WHEREAS, Stoneridge is a 17.58 acre subdivision located west of Silverbell Road and south
of Pima Farms Road, containing Lots 1 through 71 and Common Areas A, B, C & D as depicted on
Exhibit A attached hereto and incorporated herein by this reference, and recorded at the Pima County
Recorder's Office in Book 55 of Maps and Plats, Page 69; and
WHEREAS, the Town has previously entered into an Assurance Agreement between KB
Home Tucson Inc., (beneficiary) under Trust No. 4915 and First American Title Insurance Company
(trustee), recorded at the Pima County Recorder's Office at Docket 11915, Page 192 and Docket
11757, Page 745, assuring the completion of public improvements; and
WHEREAS, KB Home Tucson Inc. has completed the public improvements acceptable to
Town standards in accordance with the Assurance Agreement for Stoneridge.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the Town of Marana
as follows:
Section 1. Stoneridge, lots 1 through 71 and Common Areas A, B, C & D are hereby
released from the Assurance Agreement with KB Home Tucson Inc. under Trust No. 4915,
and First American Title Insurance Company.
Section 2. The Town accepts for maintenance, including maintenance of regulatory
traffic control and street signs, 0.53 miles of paved streets for the following appurtenances, as
depicted on Exhibit A:
a. Gold Rock Place
b. Granite Ridge Court
c. Iron RIdge Drive
d. Stone Hill Drive
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Marana, Arizona Resolution No. 2003-159 Page 1 of 2 ~/
PASSED AND ADOPTED by the Mayor and Council of the Town of Marana, Arizona, this
16t~ day of December, 2003.
ATTEST:
APPROVI
Att(
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