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RESOLUTION 2015 -067 <br />RESOLUTION OF THE TOWN COUNCIL <br />OF THE TOWN OF LOS GATOS <br />APPROVING FINAL MAP OF TRACT NO. 10292 — 375 KNOWLES DRIVE <br />ACCEPTING THE DEDICATIONS AND AUTHORIZING THE TOWN MANAGER TO <br />EXECUTE THE SUBDIVISION IMPROVEMENT AGREEMENT FOR PUBLIC <br />IMPROVEMENTS <br />WHEREAS, on February 3, 2015, the Development Review Committee of the Town of Los <br />Gatos approved the Tentative Map Application M -14 -011, 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 certain <br />proposed subdivision agreement ( "Agreement ") on file in the Office of the Town Clerk, entitled, <br />"Contract for the Improvement of Tract No. 10292 — 375 Knowles Drive," wherein the Owner or <br />Subdivider in consideration of the approval of said Map by the Town and acceptance by the <br />Town of the dedication of lands for public use therein contained, shall agree to construct and <br />complete, within the time specified in said agreement, all street and other improvements required <br />of Owner or Subdivider under the provisions in Chapter 27 of the Code of the Town of Los <br />Gatos, and such other street, sewer, or other improvements designated or mentioned in the <br />Agreement and /or and as specified in the Plans and Specifications for Tract No. 10292 — 375 <br />Knowles Drive. <br />2. That said Owner or Subdivider shall, before the release of said Final Map to Owner of Record, <br />and as a condition precedent to the recordation thereof, furnish to the Town and file with the <br />Town Clerk cash, or a good and sufficient bond in form to be approved by the Town Attorney, <br />securing the faithful performance by said Owner or Subdivider of all work, and the construction <br />of all improvements herein in the Agreement, and within the time herein specified, the amount of <br />cash or said bond to be Two Hundred Forty Thousand Six Hundred and 00 /100 Dollars <br />($240,600.00). <br />3. That said Owner or Subdivider shall, before the release of said Final Map to Owner of Record, <br />and as a condition precedent to the recordation thereof, furnish to the Town and file with the <br />Town Clerk cash, or a good and sufficient bond in form to be approved by the Town Attorney, <br />securing the faithful performance by said Owner or Subdivider of setting and relocation of all <br />1 of 2 <br />Resolution 2015 -067 December 15, 2015 <br />