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City Pett ? AGENDA ITEM #10.3. <br /> Lal�es <br /> REPORT TO <br /> CITY COUNCIL <br /> Date: March 3, 2008 <br /> Subject: Trailside Estates <br /> Report: At the February 4th Council meeting the Council <br /> moved to send a formal notice of default under the <br /> Developer's Agreement and to record a notice of adverse <br /> claim against the plat, and to withhold issuing land use <br /> permits for the project until the delinquent account is paid. <br /> To date the City Attorney has sent the formal notice of <br /> default and recorded the notice of adverse claim against the <br /> plat. <br /> The attorney has also been working with the bonding <br /> company in regard to the warranty bond versus the <br /> performance bond. (See attached correspondence). It <br /> appears that the bonding company has indicated to Paul <br /> Sandelin that the Performance Bond is still in effect. They <br /> will be giving it back to the City. This will allow the City to <br /> collect on the bond. <br /> Paul Sandelin will be present to discuss this issue. <br />