The City of Rocklin recorded a “Subdivision Improvement Agreement” entered into by and between the City and Stanford Ranch, Inc., a California Corporation on August 31, 1990, as associated with the Parcel Map recorded in BK 26 of PM PG 8, of Official Records of Placer County.
The City also recorded a “Subdivision Improvement Agreement” entered into by and between the City and Rocklin Corporate Center (Atherton Road Extension) on October 1, 2004, as associated with the Rocklin Corporate Center Subdivision Map recorded in BK Z of Maps PG 90, of Official Records of Placer County.
The property affected by both these agreements is described in the above-mentioned maps, and shown in Exhibit A, attached.
The final improvements have been installed and accepted by the City per the Notice of Completion for Rocklin Corporate Center, recorded May 17, 2006, Doc 2006-0053804, and the property owner is now requesting that the City record a release for each of the two agreements. Because the required improvements have been completed and all warranty periods have been fulfilled, staff is recommending that the Council grant the request to partially release the property owner of all obligations under the agreements, except for the provisions of Section 11, “Indemnity and Hold Harmless” in each agreement, which will remain in full force and effect in perpetuity.