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RESOLUTION NO. 90 -3015
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF TEMPLE CITY AUTHORIZING AN INDEMNITY
AGREEMENT BETWEEN THE CITY OF TEMPLE CITY,
THE TEMPLE CITY COMMUNITY REDEVELOPMENT
AGENCY AND CHICAGO TITLE INSURANCE COMPANY
WHEREAS, the TEMPLE CITY COMMUNITY REDEVELOPMENT AGENCY
( "Agency ") is engaged in activities necessary to execute and
implement the Redevelopment Plan for the Rosemead Blvd. Redevel-
opment Project ( "Project "); and
WHEREAS, in order to implement the Redevelopment Plan, the
Agency and CHAMPION /LBS ASSOCIATES DEVELOPMENT COMPANY ( "Cham-
pion") entered into a Disposition and Development Agreement
( "Agreement ") dated March 17, 1989, as amended; and
WHEREAS, Champion and the Agency have agreed that the
Agency will perform certain demolition work on property owned or
leased by Champion and on property being acquired by the Agency
for conveyance to Champion; and
WHEREAS, the Agency and Champion are requesting Chicago
Title Company to insure title to the Agency property and Devel-
oper property free and clear of any mechanic lien rights that the
demolition contractor, its suppliers or its employees may have
against the property owned or leased by Champion or to be con-
veyed by the Agency to Champion; and
WHEREAS, it is desirable to cause the demolition of the
improvements for which Agency has authorized demolition contracts
as soon as possible in order to expedite the redevelopment of the
Project area;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF TEMPLE CITY AS FOLLOWS:
SECTION 1. The Mayor or City Manager are authorized to
execute an Indemnity Agreement with Chicago Title Insurance
Company on such terms as the City Attorney may approve.
SECTION 2. The City Clerk shall certify to the passage
and adoption of this Resolution and the same shall thereupon take
effect and be in force.
APPROVED AND ADOPTED THIS 4TH DAY OF DECEMBER, 1990.
THE CITY OF TEMPLE CITY
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Mayor d'
Resolution No. 90 -3015
Page 2
APPROVED AS TO FORM:
City Attorne
I hereby certify that the foregoing Resolution, Resolution
No. 90 -3015 was duly adopted by the City Council of the City of
Temple City at a regular meeting held on the 4th day of December,
1990 by the following vote:
AYES: Councilmember- Froehle, Manning,McGowan,Wilson,Breazeal
NOES: Councilmember -None
ABSENT: Councilmember -None
City Clerk
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