HomeMy WebLinkAboutResolution 2002-147 release of assurance for lots 1-148 in continental ranch parcel 51MARANA RESOLUTION NO. 2002-147
A RESOLUTION OF THE MAYOR AND COUNCIL OF THE TOWN OF MARANA,
ARIZONA, AUTHORIZING THE RELEASE OF THE ASSURANCE AGREEMENT
BETWEEN RICHMOND AMERICAN HOMES, INC., AND TOWN OF MARANA FOR LOTS
1-148 IN CONTINENTAL RANCH PARCEL 51.
WHEREAS, Continental Ranch Parcel 51 is a 90.446 acre subdivision located south of
Cortaro Road and west of Silverbell Road containing Lots 1 through 148 and Common Area A as
depicted on Exhibit A attached hereto and incorporated herein by this reference, and recorded at the
Pima County Recorder's Office in Book 48 of Maps and Plats, Page 58; and
WHEREAS, the Town has previously entered into an Assurance Agreement with Richmond
American Homes, Inc., (beneficiary) under Trust No. 10,886 and Fidelity National Title Agency, Inc,
(trustee), recorded at the Pima County Recorder's Office at Docket 10835, Page 541, assuring the
completion of public improvements (the "Agreement"); and
WHEREAS, Richmond American Homes, Inc., the Ad-Hoc homeowners street committee
and the Town of Marana have worked together to identify all drainage, road and grading concerns
within Continental Ranch Parcel 51; and
WHEREAS, Richmond American Homes, Inc, has initiated the required repairs and
improvements, in Continental Ranch Parcel 51, as identified by the Ad-Hoc homeowners street
committee and the Town of Marana; and
WHEREAS, Richmond American Homes, Inc, has posted a performance bond in the amount
of one hundred thousand dollars ($100,000) for the outstanding repairs and improvements.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the To'am of Marana
as follows:
Section 1. Continental Ranch Parcel 51, lots 1 - 148 and Common Area A are hereby
released from the Agreement and the performance bond in the amount of $100,000.00.
Section 2. Common Area A, as depicted on Exhibit A, shall be owned and maintained
the Continental Ranch Community Association.
Section 3. The streets within Continental Ranch Parcel 51, lots 1 - 148 and Common
Area A are hereby accepted for public maintenance.
Marana. Arizona Resolution No. 2002-147
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PASSED AND ADOPTED by the Mayor and Council of the Town of Marana, Arizona, this
17th day of December, 2002.
ATTEST:
"~ocel~ (~Entz
Town Clerk
APPROVED AS TO FORM:
' As Town Attorney and not personally
Mayor BOBBY SUTTO-~J~R.
Marana, Arizona Resolution No. 2002-147
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