HomeMy WebLinkAboutResolution 99-024 releasing performance bond between cracker barrel store and marana and authorizing the release of assurance agreementMARANA RESOLUTION NO. 99-24
A RESOLUTION OF THE MAYOR AND COUNCIL OF THE TOWN OF MARANA, ARIZONA,
AUTHORIZING THE RELEASE OF THE PERFOMANCE BONDS BETWEEN CRACKER
BARREL OLD COUNTRY STORE, INC. AND TOWN OF MARANA FOR LOT 1 OF
CONTINENTAL RANCH BUSINESS PARK LOTS 1-8 AND BLOCKS A & B; AND,
AUTHORIZING THE RELEASE OF THE ASSURANCE AGREEMENT BETWEEN ROBERT
A. FOTI AND FIRST AMERICAN TITLE INSURANCE COMPANY, A CALIFORNIA
CORPORATION FOR CONTIENTAL RANCH BUSINESS PARK LOT 6 (AKA FOTI FUELS)
AND ACCEPTING FOR MAINTENANCE THE PUBLIC IMPROVEMENTS.
WHEREAS, Cracker Barrel was developed on Lot 1 of Continental Ranch Business Park
Drive Lots 1-8 and blocks A & B, and is recorded at the Pima County Recorder's Office in Book 49
of Maps and Plats, Page 37; and, Foti Fuels on Lot 6 of Continental Ranch Business Park Lots 1-8
and blocks A & B is recorded at the Pima County Recorder's Office in Book 49 of Maps and Plats,
Page 37; and
WHEREAS, the Town has previously accepted Performance Bond No. 158581572 with
Cracker Barrel Old Country Store, Inc. and Town of Marana, recorded at the Pima County
Recorder's Office at Docket 10551, Page 638, and Performance Bond No. 158581491 with Crocker
Barrel Old Country Store, Inc. and Town of Marana, recorded at the Pima County Recorder's Office
as Docket 10551, Page 641 assuring the completion of public improvements; and, the Town has
previously entered into an Assurance Agreement between Robert A Foti (beneficiary) under Trust
No. 4759 and First American Title Insurance Company, a California corporation (trustee), recorded
at the Pima County Recorder's Office at Docket 10498, Page 489 assuring the completion of public
improvements; and
WHEREAS, Crocker Barrel Old Country Store, Inc. has completed the public improvements
to the Town standards under the Performance Bond No. 158581572 in the amount of $114,746.51
for on-site improvements and performance Bond No. 158581491 in the amount of $242:968.44 for
off-site improvements now requests that Lot 1 of Continental Ranch Business Park Lots 1-8 and
blocks A & B be released from said Performance Bonds; Robert A Foti has completed the public
improvements to the Toxvn standards under the Assurance Agreement Trust No. 4759 and no~v
requests that Lot 6 of Continental Ranch Business Park Lots t-8 and block A & B be released from
said Assurance Agreement.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the Town of
Marana, Arizona authorizing the release of the Performance Bond No. 158581572 and Performance
Bond No. 158581491 between Cracker Barrel Old Country Store, Inc., and Town of Marana for Lot
1 of Continental Ranch Business Park Drive Lots 1-8 and blocks A & B and accepting for
maintenance the following public improvements:
Hospitality Road from Interstate 10 Frontage Road westerly through the intersection of
Hospitality Road and Cracker Barrel Road intersection (i.e., to the eastern boundary of Lot
5 of Continental Ranch Business Park Lots 1-8 and blocks A & B.)
Cracker Barrel Road from the boundary line of Lot 1 and Lot 2 south through the intersection
of Cracker Barrel Road and Hospitality Road to the northern lot line of Lot 5 of Continental
Ranch Business Park Lots 1-8 and blocks A & B.
3. Construction of the following utility facilities:
a. The 24 inch storm drain and related improvements from the north boundary line of Lots
5 of Continental Ranch Business Park through the intersection of Cracker Barrel Road;
and, Hospitality Road northerly to the Santa Cruz River or daylight grade.
4. One (1) survey monument, and miscellaneous items such as regulatory traffic control signs and
street signs; and
authorizing the release of the Assurance Agreement between Robert A Foti under Trust No. 4759,
and First American Title Insurance Company, a California corporation for Lot 6 of Continental
Ranch Business Park Drive Lots 1-8 and blocks A & B and accepting for maintenance the following
public improvements:
i. The road identified on the Final Plat as Cracker Barrel Road from Cortaro Road, including
the intersection .of Cracker Barrel Road to Cortaro Road, to (but not including) the
intersection with Hospitality Road effective November 4, 1998.
2. Construction of the following utility facility:
a. The 24" storm drain and related improvements from Cortaro Road to (but not including)
the intersection wkh Hospitality Road.
3. Miscellaneous items such as regulatory traffic control signs and street signs.
The construction warranty will expire on November 4, 1999.
PASSED AND ADOPTED by the Mayor and Council of the Town of Marana, Arizona, this
16TM day of March, 1999.
ATTEST:
Diane Mangialardi ct
Acting Town Clerk
APPROVED AS~
~iel J. Hochuli
As Town Attorney and not personally
SITE
LOCATION MAP
TOWN OF MARANA
Cracker Barrel
Continental Ranch Business Park,
Lot 1
~ Marana Town Umits
2~0 0 2~0 ~0 Fe~t
~'OWN OF I'~ARANA
LOCATION MAP
Foti Fuels
Continen~l Ranch Busine~ Park,
Lot 6
N
Town
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