1984-227-Approving The Agreement With Hytek Microsystems, IncorporatedRESOLUTION No. l2gq-222—
RESOLUTION APPROVING THE AGREEMENT hIITH
HYTEK MICROSYSTEMS, INCORPORATED
RESOLVED, by the Town Council of the Town of Los Gatos, County of Santa Clara,
State of California, that the TOIJN OF LOS GATOS enter into an agreement entitled,
"AGREEMENT TO PARTICIPATE IN THE COST FOR THE INSTALLATION OF A TRAFFIC SIGNAL AT
THE INTERSECTION OF LARK AVENUE AND UNIVERSITY AVENUE ", with HYTEK MICROSYSTEMS,
INCORPORATED, a copy of which is attached hereto.
FURTHER RESOLVED, that the Mayor is authorized, and hereby directed to execute
said agreement in the name and in behalf of the T014N OF LOS GATOS.
PASSED AND ADOPTED at a re ular meeting of the Town Council of the Town
of Los Gatos held on 17th day of De e b , 19_a4 by the
following vote:
AYES: COUNCIL MEMBERS Eric D. Carlson, Thomas J. Ferrito Brent N.
Ventura, and Mayor Joanne Benjamin
NOES:
COUNCIL
MEMBERS
None
ABSTAIN:
ABSENT:
COUNCIL
COUNCIL
MEMBERS
MEMBERS
None
Terrence J. Dai
SIGNED:
ATTEST:
DEPUTY CLER OF TfIE TOM F LOS GA OS
T-1, CLERK
AGREEMENT FOR PARTICIPATION IN THE INSTALLATION
OF A TRAFFIC SIGNAL AT THE INTERSECTION OF
UNIVERSITY AVENUE AND LARK AVENUE cif
This agreement is made and entered into, effective upon the last date this
document is signed by the parties hereto, by and between the TOWN OF LOS GATOS, a
hereinafter called "TOWN ", a city, and PEN NOM I CORPORATION, A DELAWARE
CORPORATION, hereinafter called "OWNER ", whose current business address is C/O
EQUITABLE REAL ESTATE INVESTMENT MANAGEMENT, INCORPORATED, 1900 STEUART TOWER, ONE
MARKET PLAZA, SAN FRANCISCO, CALIFORNIA 94105, and is made with reference to the
following facts.
The OWNER has sought permission from the TOWN under the provisions of 'the Town
Zoning Ordinance to change the use of land in the TOWN for EXPANSION OF EXISTING
LIGHT MANUFACTURING FACILITY. The land is located at 980 UNIVERSITY AVENUE, Los
Gatos, California.
The Town Planning Commission has granted the permission, on finding that
approval of the development proposal is proper if the obligations referred to in
this agreement are met by the OWNER.
THE PARTIES AGREE AS FOLLOWS:
1. The TOWN shall, prepare plans and specifications for the construction of
traffic signals at the intersection of UNIVERSITY AVENUE AND LARK AVENUE.
2. The TOWN shall advertise for sealed competitive bids for the work and shall
award a contract to the lowest responsible bidder.
3. Within 10 days of the award of the construction contract for the traffic
signals, the OWNER agrees to submit a cash payment to the TOWN in the
amount of 10% of the bid amount for traffic signals.
4. With this agreement, the OWNER is furnishing the TOWN a cash deposit in the
amount of $8,000.00 to secure the OWNER'S performance of all his
obligations under this agreement. .After the cash payment, as outlined in
Paragraph 3, is rendered to the TOWN obligations of OWNER pursuant to this
agreement, shall be considered as complete and the cash deposit will be
released by the TOWN.
5. In the event of litigation to enforce the terms of this agreement, the
prevailing party shall have its costs and reasonable attorney's fees and
expenses. The $8,000.00 amount of the cash deposit is not a limit on the
OWNER'S liability, as specified in Paragraph 4 of this agreement, and if
the total of the specified percentages of the signal work bids are greater
than $8,000.00, the OWNER shall furnish the difference within 10 days of
notification by the TOWN. If the $8,000.00 amount as specified in
Paragraph 4 of this agreement is in excess, the TOWN shall refund the
difference.
ATTEST: TOWN:
B y�c2/YYlc�c
7WN CLERK, t L �p
Date:
Dated: /ILI -V,�'C/
Dated:
RECOMMENDED BY:
AN HOUTE
Town Engineer
Dated:
OWNER:
PEN NOM I CORPORATION, A DELAWARE
CORPORATION
BY: z r7 - �a—ft
Ike, ; 1,
By:
-2-
STATE OF GEORGIA
SS
COUNTY OF FULTON
On this the 14th day of November, 1984 before me, the undersigned Notary Public, in
and for said County and State personally appeared William R. Blank proved to me on
the basis of satisfactory evidence to be the President of the PEN NOM I
CORPORATION, A DELAWARE CORPORATION that executed t-- within instrument on behalf
of the corporation therein named, and acknowledged to me that such corporation
executed the within instrument pursuant to its by -laws or a resolution of it's
board of directors.
t
NOTARY'PUBLIC
ivutaty MIDUU, i;a3rg,a. State at Large
M,, ncmmission Expires Nov. 9, 1986
STATE OF NEW YORK
• • 191. M.
On this the 15th day of November, 1984 before me, the undersigned Notary Public, in
and for said County and State personally appeared Harry D. Pierandri proved to me on
the basis of satisfactory evidence to be the Secretary and Treasurer of the PEN NOM
CORPORATION, A DELAWARE CORPORATION that executed the within instrument on behalf
of the corporation therein named, and acknowledged to me that such corporation
executed the within instrument pursuant to its by -laws or a resolution of its
board of directors.
(NOTARY PUBLIC)
CATHERINt= TARKA.S
NOTARY PURL',. 6L:!� of "ler+ York
No. dt -4-12720
Qualified in Que2 ^s Co;:n;y
Certificate tile' in Plea: `rcrk
Commission Expires Maroh 30, 1986