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1987-044-Approving And Accepting Final Map Of Tract No. 7992RESOLUTIONd NO. 1987 -44 RESOLUTION APPROVING AND ACCEPTING FINAL MAP OF TRACT NO. 7992 RESOLVED, that that certain Final Map of Tract No. 7992 in the Town of Los Gatos, dated January 1987, and prepared by Ruth & Going, Incorporated, for Fred H. and Audrey M. Faltersack, Owners of Record of said subdivision, recommended for approval by the Town Engineer of the Town of Los Gatos, is hereby approved, and all offers of land for public use therein made on said flap are hereby accepted subject to the following conditions: 1. That prior to the delivery of said Map to the owners of said subdivision, and prior to its recordation, the owners or subdividers of said subdivision shall enter into and execute an agreement between the Town of Los Gatos and the said owners or subdividers on that certain proposed Subdivision Agreement on file in the Office of the Town Clerk, entitled, "Contract for the Improvement of Tract No. 7992 ", wherein the Owners or Subdividers in consideration of the approval of said Map by the Town and acceptance by the Town of the dedication of lands for public use therein contained, shall agree to construct and complete, within the time specified in said agreement, all street and other improvements required of Owners under the provisions of Chapter 27 of the Code of the Town of Los Gatos, and such other street, sewer, or other improvements designated or mentioned in said agreement and /or in and as specified in the Plans and Specifications for Tract No. 7992. 2. That said Owners or Subdividers shall, before the release of said Final Map to Owners of Record, and as a condition precedent to the recordation thereof, furnish to the Town and file with the Town Clerk cash, or a good and sufficient bond in form to be approved by the Town Attorney, securing the faithful performance by said Owners or Subdividers of all work, and the construction of all improvements herein in this agreement mentioned, and within the time herein specified, the amount of cash or said bond to be $214,000.00 Dollars. 3. That said Owners or Subdividers shall, before the release of said Final Flap to Owners of Record, and as a condition precedent to the recordation thereof, furnish to the Town and file with the Town Clerk certificates or policies of public liability and property damage insurance in form satisfactory to the Town Attorney, providing public liability insurance in the amount of Five Hundred Thousand ($500,000) Dollars for each person, and One Million ($1,000,000.00) Dollars for each accident or occurrence, and property damage coverage of Two Hundred Thousand ($200,000.00) Dollars whereby the Town of Los Gatos, and in their capacity as such, its Council members, officers, boards, commissions, and its employees will be insured, indemnified, and held harmless from any and all claims of any kind or nature arising or resulting from the construction of said improvements or other work of subdividing within or outside the said subdivision, and /or arising or resulting from or concerning the doing or failing to do so by said Owners or Subdividers of all things required to be done in the above mentioned agreement between said Owners or Subdividers and the town of Los Gatos. PASSED AND ADOPTED at a regular meeting of the Town Council of the town of Los Gatos held on 20th _ day of April 1987 by the following vote: AYES: COUNCIL MEMBERS Joanne Benjamin, Eric D. Carlson, Thomas J. Ferrito, Robert L. Hamilton, and Mayor Brent N. Ventura NOES: COUNCIL MEMBERS None ABSTAIN: COUNCIL MEMBERS None ABSENT: COUNCIL MEMBERS None SIGNED: ATTEST: CLERK OF THE TOWN OF iLbOS GAr�� -2-