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RESOLUTION 2015 -003 <br />RESOLUTION OF THE TOWN COUNCIL <br />OF THE TOWN OF LOS GATOS <br />APPROVING FINAL MAP OF TRACT NO. 10275 —100 PROSPECT AVENUE <br />ACCEPTING THE DEDICATIONS, AND AUTHORIZING THE TOWN MANAGER TO <br />EXECUTE THE SUBDIVISION IMPROVEMENT AGREEMENT FOR THE <br />CONSTRUCTION OF PUBLIC IMPROVEMENTS AND APPROVING THE REQUEST <br />TO ADD THE NAME "SISTERS COURT" TO THE TOWN'S OFFICIAL STREET <br />NAME LIST TO BE USED AT THE PROPOSED DEVELOPMENT. <br />WHEREAS, on March 24, 2014, the Town Council of the Town of Los Gatos approved <br />the Tentative Map Application M -13 -003, with conditions; and <br />WHEREAS, those conditions required the Owner or Subdivider to do the following: <br />1. That prior to the delivery of said Map to the Owner of said subdivision, and prior to its <br />recordation, the Owner or Subdivider of said subdivision shall enter into and execute an <br />agreement between the Town of Los Gatos and the said Owner or Subdivider on that <br />certain proposed subdivision agreement ( "Agreement ") on file in the Office of the Town <br />Clerk, entitled, "Contract for the Improvement of Tract No. 10275 — 100 Prospect <br />Avenue ", wherein the Owner or Subdivider in consideration of the approval of said Map <br />by the Town and acceptance by the Town of the dedication of lands for public use therein <br />contained, shall agree to construct and complete, within the time specified in said <br />agreement, all street and other improvements required of Owner or Subdivider under the <br />provisions in Chapter 27 of the Code of the Town of Los Gatos, and such other street, <br />sewer, or other improvements designated or mentioned in the Agreement and /or and as <br />specified in the Plans and Specifications for Tract No. 10275 — 100 Prospect Avenue. <br />2. That said Owner or Subdivider shall, before the release of said Final Map to Owner of <br />Record, and as a condition precedent to the recordation thereof, furnish to the Town and <br />file with the Town Clerk cash, or a good and sufficient bond in form to be approved by <br />the Town Attorney, securing the faithful performance by said Owner or Subdivider of all <br />work, and the construction of all improvements herein in the Agreement, and within the <br />time herein specified, the amount of cash or said bond to be Seven Hundred Eighty Nine <br />Thousand and 00 /100 Dollars ($789,000.00). <br />