SUBDIVISION AGREEMENT
(CFO Condition)
(Bonds as Security)
THIS AGREEMENT, made and entered into _______ ,
2024, between the City of Merced, a California Charter Municipal Corporation, hereinafter called "City," and Stonefield Home, Inc., a California Corporation, hereinafter called "Subdivider," relates to the installation of improvements within the Renaissance 154, Phase 4 Subdivision, a subdivision of real property within the corporate limits of "City.
II
RECITALS
A. The Planning Commission of City, on April 5, 2023, adopted Resolution No. 4108 approving the tentative map of the above mentioned subdivision.
B. Subdivider has submitted for approval the final map of said subdivision in full compliance with State Law and City subdivision ordinances. Final Map Application Number 5414 was submitted by the subdivider on February 28, 2024. A complete Final Map Application (including all bonds and insurance) was filed with the City on ________ ,2 0_.
C. Section 18.24.100 of the Merced Municipal Code requires certain improvements within said subdivision.
D. Improvement plans for said subdivision have been approved by the City.
E. The "Subdivision Map Act" and Section 18.24.150 of the Merced Municipal Code require certain security to guarantee the installation of said improvements.
F. Inspection fees required in accordance with Section 18.24.11 0 of the Merced Municipal Code have been paid.
G. Condition of Approval No. 9 for the tentative subdivision map requires the Subdivider to have annexed into the City's Community 1 X:\Agreements\Planning\Subdivision\Subdivision CFD & Bonds as Security-Stonefield Home Renaissance 154, Ph 4.doc