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RESOLUTION THE CITY COUNCIL OF THE CITY OF SAN LEANDRO <br />RESOLUTION NO.2022-025 <br />RESOLUTION OF THE CITY OF SAN LEANDRO CITY COUNCIL TO <br />ACCEPT THE WORK FOR THE PUBLIC IMPROVEMENTS AT THE SAN LEANDRO <br />TECH CAMPUS (PROVIDES FOR ACCEPTING THE WORK DONE BY CHANG <br />INCOME PROPERTY PARTNERSHIP, L.P., RELEASING THE PERFORMANCE AND <br />PAYMENT BONDS, AND RELEASING THE MAINTENANCE BOND UPON <br />COMPLETION OF THE ONE-YEAR MAINTENANCE PERIOD) <br />WHEREAS, pursuant to a public improvement agreement between the City of San <br />Leandro and Chang Income Property Partnership, L.P., approved on June 16, 2014, by <br />Resolution No. 2014-059, Chang Income Property Partnership, L.P. constructed public <br />improvements at the San Leandro Tech Campus; and <br />WHEREAS, said public improvements were guaranteed by a Performance Bond and a <br />Labor and Materials Bond (Bond Nos. 4399952), each in the amount of $794,420 by SureTec <br />Insurance Company; and <br />WHEREAS, said work has been completed in accordance with the plans and <br />specifications and to the satisfaction of the Engineering and Transportation Director, who <br />therefore recommends that said work be accepted; and <br />WHEREAS, said work will be guaranteed by a Maintenance Bond (Bond No. 4399952- <br />M) in the amount of $79,442 by SureTec Insurance Company for a period of one year from the <br />date of this action. <br />NOW, THEREFORE, the City Council of the City of San Leandro does hereby <br />RESOLVE as follows: <br />1. That the work hereinbefore described is hereby accepted; and <br />2. That the Performance Bond and a Labor and Materials Bond (Bond Nos. 4399952), <br />each in the amount of $794,420 by SureTec Insurance Company are hereby discharged and <br />exonerated from further liability; and <br />3. That upon completion of the one-year maintenance period established pursuant to <br />said agreement, and to the satisfaction of the Engineering and Transportation Director, the City <br />Manager is hereby authorized to release the Maintenance Bond (Bond No. 4399952-M) in the <br />amount of $79,442 by SureTec Insurance Company. <br />