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1996 Home Depot - Lease AgreementRrconaIN :EQuESTED B.Y ti ,ost�i,Elll Lj�wyccY, TEJiL r0onval Recording Requested by and When Recorded Mail to: City of La Quinta 78-495 Calle Tampico La Quinta, CA 92253 Attn: City Clerk 4'73859 RECEIV .0.1:QR RECORD AT B. O'CLOCK DEVELOPER LEASE AGREEMENT DEC 1 71996 Recorded in 01ficd Rewrds of gwereiN couna, Cidifornia order Reco 4tFe9s$— q(,o (� T THIS DEVELOPER LEASE AGREEMENT ("Agreement") is entered into as of the day of , 1996, by and among the City of La Quinta, a municipal corporation ("City"), Home Depot U.S.A., Inc., a Delaware corporation ("Developer"), and Credit Suisse Leasing 92A, L.P. ("Owner") with reference to the following: RECITALS �-- A. WHEREAS, Owner has acquired or will acquire certain property located in the City ("Project Site"), which Project Site is described on Exhibit "A"attached hereto and depicted on Exhibit "B" attached hereto; and B. WHEREAS, Owner desires to lease to Developer the Project Site to develop and operate a commercial/retail center and related improvements as described in the Development Agreement dated the 3rd day of December, 1996, the Specific Plan 96-027 the CUP 96-028, and related improvements (the "Project"); and C. WHEREAS, in connection with the development of the Project, Owner intends to dedicate and convey certain real property to the City for public facilities along Jefferson Street ("Jefferson Street Dedicated Property"), which Property is described on Exhibit "C" attached hereto and depicted on Exhibit "D" attached hereto; and D. WHEREAS, in connection with the Project, Owner intends to dedicate and convey certain real property to the City and ultimately to the State of California ("State") for public facilities along Highway I I I ("Highway I I I Dedicated Property"), which property is described on Exhibit "E" attached hereto and depicted on Exhibit "I"' attached hereto. E. WHEREAS, the City currently owns certain right-of-way adjacent to the Project Site ("Existing Right -of -Way"), which Existing Right -of -Way is described on Exhibit "G" attached hereto and depicted on Exhibit "H"; and E. WHEREAS, the City desires, subsequent to acquiring the Jefferson Street Dedicated Property and the Highway 111 Dedicated Property, collectively the "Dedicated Properties" from Owner, to lease the Dedicated Properties and the Existing Right -of -Way, as depicted on Exhibit "D", Continental Lawyers Title Company has reccrded is clerument as an ONLY. It has not bce❑ exanmined for regularity, 3hmdpt.les 1 sufficiency, or effect on the title to the property therein describe& �j 473859 "F", and "H" attached ("Public Property") to Developer, for purposes of having Developer construct thereon certain street improvement public facilities in addition to certain flood control public facilities located on the Project Site ("Public Facilities"), which Public Facilities are described on Exhibit "I" attached hereto; and G. WHEREAS, Developer has agreed to construct the Public Facilities on the Project Site including those located on the Public Property, and then to sublease the portion of the Jefferson Street Public Property and Public Facilities to the City pursuant to a sublease ("Public Property Sublease"), and to release from the lease agreement the Highway 111 portion of the Public Property for the City to transfer to the State for the benefit of the public and in furtherance of public purposes of the City; NOW, THEREFORE, for and in consideration of the mutual covenants and agreement herein contained, and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, it is agreed as follows: Section 1. Definitions. Unless the context otherwise requires, the terms defined in this Section 1 shall, for all purposes of this Agreement, have the meanings herein specified. (a) "Agreement" shall mean this Lease Agreement. (b) 'Base Rental Payments" shall mean the rental payments payable by the City to Developer pursuant to the Public Property Sublease, as described herein. (c) "Commencement Date" shall mean the date upon which the City first receives Sales and Use Tax Revenues from businesses or activities conducted on the Project Site after completion of the Public Facilities. (d) "City" shall mean the City of La Quinta, California, a political subdivision of the State of California, and its successors and assigns. (e) "Dedicated Properties" shall mean those certain real properties as described on Exhibits "C" and "E" and depicted on Exhibits "D" and "F", which real property shall be conveyed by Developer to the City pursuant to the terms of this Agreement. (f) "Developer" shall mean Home Depot U.S.A., Inc., a Delaware corporation. (g) 'Existing Right -of -Way" shall mean the existing right-of-way currently owned by the City, as described in recital paragraph D. hereof. (I) "Highway I I I Dedicated Property" shall mean that certain property described on Exhibit "E" and depicted on Exhibit "F". 3hmdpt.les 2 4'73859 0) "Jefferson Street Dedicated Property" shall mean that certain property described in Exhibit "C" and depicted in Exhibit "D". (k) "Interest Component" shall have the meaning set forth in Section 6 hereof. (1) "Leasehold Value" shall have the meaning set forth in Section 6 hereof. (m) "Owner" is Credit Suisse Leasing 92A, L.P., a Delaware limited partnership. (n) "Principal Component" shall have the meaning set forth in Section 6 hereof. (o) "Project" shall mean the commercial facility and related improvements described in recital paragraph B. above. (p) "Project Site" shall mean the real property described on Exhibit "A" and depicted on Exhibit "B" attached hereto. (q) "Public Facilities" shall mean the public facilities to be constructed by Developer on the Public Property. (r) "Public Property" shall mean, collectively, the Future Right -of -Way and the Existing Right -of -Way, as described herein. (s) "Public Property Lease" shall mean the lease agreement described in Section 3 hereof, wherein the City, as lessor, leases to Developer, as lessee, the Public Property. (t) "Public Property Sublease" shall mean the sublease agreement described in Section 5 hereof, wherein Developer, as sublessor, subleases to the City, as sublessee, the Public Property and Public Facilities. (u) "Rental Period" shall have the meaning set forth in Section 7(a)(2) hereof. (v) "Sales and Use Tax" shall mean the 1 % sales and use tax imposed and received by the City under authority granted to the City pursuant to Section 7201 of the California Revenue and Taxation Code. (w) "State" shall mean the State of California". (x) "Sales and Use Tax Revenues" shall mean any revenues collected by the City pursuant to Sales and Use Tax as described above. (y) "Term of this Agreement" shall mean that period of time commencing as of the date of this Agreement and terminating as of the date of termination of the Public Property Sublease. 3hmdpt.les 3 4'73859 Section 2. Conveyance of Dedicated Property. Developer shall convey or cause to be conveyed to the City or its designee, and the City or its designee shall accept conveyance of, the Dedicated Properties, for public purposes, prior to Developer's seeking building permits for the construction of any portion of the Project. Developer covenants that prior to conveying the Dedicated Properties to the City or its designee, and provided that the City performs its obligations as set forth in Section 7 of this Agreement, Developer shall own fee title to all of the Dedicated Properties, and that such property shall be conveyed to the City or its designee free and clear of all liens and encumbrances, except those approved in writing by the City. Such conveyance of the Dedicated Properties from Developer to the City or its designee shall be deemed to be and is a condition precedent to the rights and obligations of the parties under the terms of this Agreement, provided however, that such conveyance shall not be a condition precedent to those obligations of the City under Section 7(b)(2) of this Agreement. Upon the Developer's conveyance of the Dedicated Properties to the City or its designee, this Agreement shall be recorded in the Official Records of the City of La Quinta, California. Section 3. Public Property Lease. Upon conveyance of the Dedicated Properties to the City or its designee as described above, the City shall lease the Public Property (consisting of the Dedicated Properties and Existing Right -of - Way) to Developer or cause the Public Property to be leased to Developer, and Developer shall lease the Public Property from the City or its designee on the terms and conditions set forth herein ("Public Property Lease"). Rent for the entire term of the Public Property Lease shall be an advance payment by Developer to the City of the sum of $1.00. The term of the Public Property Lease shall commence on the date that the City or its designee accepts conveyance of the Dedicated Property and continue for the Jefferson Street portion of the Public Property until the termination of the Public Property Sublease, as described herein, and, upon termination of the Public Property Sublease, the Public Property Lease shall likewise terminate for the Highway I I I portion of the Public Property the Public Property Lease shall terminate upon the City's transfer of the Highway I I I Dedicated Property to the State. Section 4. Construction of Public Facilities. (a) Developer's Obligations. Developer shall finance and construct on the Public Property and the Project Site, all of the Public Facilities described on Exhibit "I" attached hereto. In that connection, Developer shall do the following: (1) prepare plans and specifications for the Public Facilities in accordance with City standards, and submit such plans and specifications to the appropriate City departments for review and approval; (2) provide the City with twenty (20) days written notice prior to the commencement of construction; (3) secure all necessary licenses, permits, rights of way, and rights of entry as may be reasonably necessary for construction; 3hmdpt.les 4 4'73859 (4) prior to commencement of construction, Developer shall provide the City with faithful performance and material payment bonds, each in the amount of 110% of the estimated cost of construction, as determined by the City; the survey, amount and form of such bonds shall be subject to the approval of City Attorney; and such bonds shall remain in full force and effect until the Public Facilities are accepted by the City, at which time such bonds may be reduced to 10% of the cost of construction for a period of one (1) year to guarantee against any defective work, labor or materials; (5) provide workers' compensation insurance for all Developer employees working on construction, in amounts as required by California law; (6) provide and maintain comprehensive liability insurance which shall name both Developer and the City as insureds, and which shall provide coverage from personal injury claims, including accidental and/or wrongful death, and claims for property damage which may arise directly or indirectly from Developer's construction work, or the performance of Developer's obligations hereunder, whether such construction and performance is done by Developer, or any constructor, subcontractor or other party employed directly or indirectly by any of them; such insurance shall provide for limits of not less than $2,000,000 per occurrence and shall further provide that the issuing company may not cancel, modify or terminate coverage unless it shall have given the City thirty (30) days' prior written notice of such cancellation, termination or modification; Developer shall assure that the insurance required by this section shall remain in full force and effect throughout the construction of the Public Facilities, and Developer's failure to do so shall be deemed a material breach of this Agreement; and (7) upon completion of construction, convey to the City, in form and substance acceptable to City Attorney, all rights of way and easements deemed necessary by the City Engineer, in its reasonable discretion, for the operation and maintenance of the Public Property and Facilities, including ingress and egress easements as may be reasonably need for storm drain operation and maintenance. (b) Ci , 's Obligations. In connection with Developer's construction of the Public Facilities, the City shall do the following: (1) review and approve the plans and specifications for the Public Facilities prepared by Developer in a timely manner prior to the commencement of construction of said Public Facilities; and (2) inspect the construction of the Public Facilities as required; (3) upon completion and acceptance by the City of the Public Facilities and conveyance of all required rights of way and easements, accept full responsibility for operation and maintenance of the Public Property and Public Facilities. 3hmdpt.les 5 473859 Section 5. Public Property Sublease. Upon completion of the Public Facilities, Developer shall sublease the Public Property and Public Facilities constructed on Jefferson Street (Exhibits "D and H") to the City and the City shall sublease same from Developer ("Public Property Sublease") under the terms and conditions set forth herein. The Public Facilities shall be deemed to be "complete" upon final inspection and acceptance by the City. Concurrently, the Public Property and Public Facilities constructed on Highway 111 (Exhibits "E and F") shall be transferred to the State of California. Section 6. Term of the Public Property Sublease. The Public Property Sublease shall begin as of the Commencement Date as defined in Section 1(d) hereof. The Public Property Sublease shall end on the earlier of (1) December 31 st of the calendar year which is 12 years after the Commencement Date, or (2) when the full amount of the Leasehold Value including both the Principal Component and then accrued Interest Component, as defined in Section 7 below, has been paid to Developer. Section 7. City's Obligation under Public Property Sublease. Under the terms of the Public Property Sublease, the City shall perform the following obligations: (a) Base Rental Payments. The City agrees to pay to Developer, on a quarterly basis, base rental payments ("Base Rental Payments") for the applicable rental period or portion thereof throughout the term of the Public Property Sublease. All Base Rental payments shall be allocated as set forth in this Section 7. (1) Amounts of Base Rental Payments. Base Rental Payments shall be calculated as follows: From the Commencement Date and continuing through the term of the Public Property Sublease, Base Rental Payments shall be forty-eight percent (48%) of the Sales and Use Tax Revenues generated by businesses or activities located on the Project Site up to a maximum amount of One Hundred and Twenty -Eight Six Hundred Eighty Dollars ($128,680) in any calendar year of the Sublease. (2) Time for Payment. The City's obligation to pay Base Rental Payments shall begin on the Commencement Date. The City shall make quarterly Base Rental Payments to Developer for each rental period ("Rental Period") or portion thereof, which Rental Periods shall consist of each calendar quarter. Each Base Rental Payment shall be due to Developer on or before the thirtieth (30th) day after the City receives its quarterly sales tax reconciliation from the State of California. (3) Form of Base Rental Pam. Each base Rental payment shall be paid in lawful money of the United States of America, by warrant or check drawn against funds of the City, and mailed or delivered to the address provided for Developer in Section 15 of this Agreement. 3hmdpt.les 6 473859 (4) Records Required. Developer shall provide, or cause each business or activity located on the Project Site to provide, to the City, all of the information required by the "Information Sheet on Sales and Use Tax Reporting and Information Required by the City of La Quinta," a copy of which is attached hereto as Exhibit "J". It shall be the obligation of Developer to provide the required information to the City in a timely manner and to keep the information accurate during the term of the Public Property Sublease. Failure to supply the required information in a timely manner may, at the discretion of the City, result in a delay of that portion of the Base Rental payment applicable to any such business or activity which has failed to provide the required information. The City shall maintain sufficient records and accounts to separately identify all Sales and Use Tax Revenues paid to it from businesses and activities located on the Project Site, and shall provide to Developer, at the time of making each base Rental Payment, a written accounting with respect to each Payment. (5) Limit on Total Base Rental Payments. Notwithstanding anything to the contrary herein, the aggregate Base Rental Payments payable by the City to Developer during the term of the Public Property Sublease shall not exceed the full amount of the Leasehold Value, including both the Principal Component and the Interest Component. The parties hereto stipulate and agree that the total value of the leasehold interest ("Leasehold Interest") shall include a principal component and an interest component. Upon the Commencement Date of this Agreement, the principal component ("Principal Component") equals Eight Hundred Eighty Thousand Dollars ($880,000). The Principal Component shall bear interest ("Interest Component") until paid in full, at a rate equal to eight percent (8%) per annum unless mutually agreed to by the parties hereto. Such interest shall begin to accrue on the Commencement Date of the Public Property Sublease and shall continue to accrue until the Principal Component is paid in full or this Agreement is otherwise terminated as provided herein. All Base Rental payments made by the City to Developer shall be allocated first to the Interest Component payable as of the date of City's payment of said Base Rental payment. Any amount of said Base Rental payments in excess of the accrued but unpaid Interest Component shall then be applied to the reduction of the Principal Component. (b) Total Consideration. The Base Rental Payments set forth above shall collectively constitute the total consideration for each lease year or portion thereof and shall be paid by the City for and in consideration of the right of use and occupancy, and the continued quiet use and enjoyment of the Public Property and Public Facilities for and during said year or portion thereof. The parties hereto have agreed and determined that such total consideration represents the fair rental value of the Public Property and Public Facilities (the "Leasehold Value"). In making such determination, consideration has been given to the costs of acquisition, construction and financing of all of the Public Property and Public Facilities (including the portion of the facilities that must be dedicated to the State on Highway 111 and the flood control facilities all as specifically identified in Exhibit "I"), the use and purposes which will be served by the Public Property and Public Facilities and the benefits therefrom which will accrue to the parties to this Agreement and to the general public in the City of La Quinta by reason of the acquisition and/or construction of the Public Property and Public Facilities. 3hmdpt.les 7 473859 Section 8. Source of City's Payment Obligations. The obligations of the City to Developer to pay the Base Rental Payments shall be a special and not a general obligation of the City, and shall be payable solely from the Sales and Use Tax Revenues received by the City from businesses and activities conducted on the Project Site. Prior to the time that the full amount of the Leasehold Value under this Agreement, including both the Principal Component and the Interest Component, is fully paid to Developer as provided herein, the City shall not pledge or encumber the Sales and Use Tax Revenues derived or to be derived from businesses or activities operating on the Project Site so as to impair Developer's rights hereunder. During the term of this Agreement, any subsequent pledge of the Sale and Use Tax Revenues generated from the businesses and activities conducted on the Project Site shall be subject and subordinate to Developer's rights hereunder. Notwithstanding any provision herein to the contrary, in the event that the State of California's allocation of Sales and Use Tax Revenues to the City is changed, revised or otherwise amended after the date of this Agreement, the City and Developer each agree to meet in good faith to revise this Agreement to reflect as closely as possible the original intent of the parties in entering into this Agreement with respect to the allocation of Sales and Use Tax Revenues. Section 9. Maintenance Repair. Additions and Improvements to Public Facilities. (a) Operating and Maintenance Expense. Throughout the term of the Public Property Sublease, the City shall, at its sole expense, operate, maintain, repair and/or replace as necessary, the Public Facilities (subject to the Sublease related to Jefferson Street and not dedicated to another public entity) and insure that said Public Facilities remain in good order, condition and repair at a level of service consistent with that maintained for similar types of public improvements located elsewhere without the City. The parties hereto acknowledge and agree that Developer shall have no obligation to incur any expense of any kind or character in connection with the management, operation, repair, replacement or maintenance of the Public Facilities during the term of the Public Property Sublease. Throughout the term of the Public Property Sublease, the City shall keep the Public Facilities free and clear of all liens, charges, and encumbrances. Notwithstanding any damage to the Public Facilities from whatever source, the City shall, throughout the term of the Public Property Sublease, repair the Public Facilities consistent with this paragraph without any interruption or abatement of its rental obligations as set forth hereunder. (b) Additions and Improvements to the Public Facilities. The City shall have the right throughout the term of this Agreement, to make any additions or improvements to the Public Facilities, to attach fixtures, structures or signs, and to affix any personal property thereto, provided the use of the public facilities for the purposes contemplated in this Agreement is not impaired in any way. Title to all personal property placed in or on any of the Public Facilities shall remain with the City, provided however, that any modifications or improvements which constitute fixtures will automatically become subject to this Agreement. Subject to the foregoing, the title to any personal property, improvements or fixtures which may be placed on the Property by any sublessee or licensee of the City shall be controlled by the terms of the sublease or license contract entered into by the City with such sublessee or licensee. 3hmdpt.les 8 4'73859 Upon Developer's completion of construction of the Public Facilities and their acceptance by the City, Developer shall have no further obligation of any kind to make any additions, improvements, repairs or other changes to the Public Facilities. In the event that Developer elects to make additions, improvements or other changes to the Public Facilities it shall do so only with the prior consent of the City. Any such additions, improvements or other changes shall comply with the encroachment permit rules of the City and all other applicable City building requirements. Notwithstanding the foregoing, should Developer make application for additional on site improvements beyond those contemplated by the Project, Developer may, at that time be conditioned to make further improvements to the Public Facilities as part of the approval for such additional on site developments. Section 10. Indemnification. (a) Indemnification by the City. The City agrees for the term of the Public Property Sublease, it shall indemnify, defend and hold harmless Developer, its officers, agents, employees, directors and representatives from any loss, claim, expense, and/or penalties arising directly or indirectly from the Public Facilities and the City's operation, maintenance and repair thereof, save and except those losses, claims, expenses and/or penalties arising from the gross negligence of willful misconduct of Developer. Such indemnification shall include, without limitation, indemnification for damage or claims for personal injury; including death, and claims for property damage, and including any costs incurred by Developer in defending against same, including without limitation, actual attorneys' fees. The City represents that it is self -insured as a member of a joint powers insurance authority (the "Authority") as to public liability insurance against claims for bodily injury or death or damage to .property occurring upon, or about the improvements. In the event that the City elects to purchase liability insurance in the future rather than remaining self -insured with the Authority, such liability insurance shall, during the term of this Public Property Sublease, name Developer as an additional insured to the extent appropriate to comply with the provisions of this Section 10. (b) Indemnification by Developer. The Developer agrees that throughout the term of the Public Property Lease, it shall indemnify, defend and hold harmless the City, its officers, agents, employees and representatives from any loss, claim, expense and/or penalties arising directly or indirectly from Developer's construction of the Public Facilities, committed in connection with Developer's performance of or failure to perform its obligations under the terms of the Public Property Lease. Developer agrees that throughout the term of the Public Property Sublease, it shall indemnify and hold harmless the City, its officers, agents, employees and representatives from any loss, claim, expense and/or penalties arising directly or indirectly from Developer's gross negligence or willful misconduct committed in connection with Developer's performance of or failure to perform its obligations under the terms of the Public Property Sublease. Such, above identified, indemnification shall include without limitation, indemnification for damages or claims for personal injury, including death, and claims for property damage, and including any costs incurred by City in defending against same, including without limitation, actual attorneys' fees. Section 11. Sale. Transfer or Assignment. The City shall have the right to permit the 3hmdpt.les 9 4'73859 nonexclusive use of all or any portion of the Public Facilities by any third party as may be necessary to serve the public purposes of the City, provided however, that no sale, transfer or assignment of all or any portion of the City's rights under the terms of this Agreement shall be construed as relieving the City from any or all of its obligations as set forth in this Agreement. Specifically, it is contemplated that all or portions of those Public Facilities to be constructed adjacent to Highway I I I shall be transferred to the State of California and removed from the lease -sublease after completion, however, such transfer shall not effect the obligation of the City to pay the full Leasehold Value. Except as otherwise provided in this Agreement, the Developer shall not assign all or any portion of its rights and obligations hereunder to any successors -in -interest to the Project Site or portion thereof, except with the prior consent of the City, which consent shall not be unreasonably withheld. Any such assignment shall not relieve Developer of its obligations under the terms of this Agreement, except upon express written consent of the City. Notwithstanding anything contained herein to the contrary, the Developer may, without the prior consent of the City, assign any or all of its rights and obligations hereunder to any Affiliated Entity. For purposes of this Agreement, an "Affiliated Entity" shall mean any corporation, partnership, limited liability company or other form of business entity in which Developer has not less than a fifty percent (50%) ownership interest and not less than fifty percent (50%) management control. Any sale, transfer or assignment of the rights and obligations of either party under the terms of this Agreement shall require thirty (30) days prior written notice to the other party of such assignment, provided however, that no such prior notice shall be required in connection with any of the following: (1) An assignment by Developer which consists of the conveyance for the purpose of securing loans to be used solely for the financing of the direct and indirect costs of the Public Facilities, including without limitation, financing costs, interest and commissions, planning, design, construction, development and leasing of the Public Facilities to be constructed by Developer, provided that the assignee of any such assignment shall receive only the right to collect Base Rental Payments due under the terms of this Agreement. (2) Transfers resulting from a sale of Developer's interest in the Public Facilities or the Public Property or any portion thereof at foreclosure (or a conveyance thereof in lieu of a foreclosure) pursuant to a foreclosure thereof by a lender. (3) Subject to the terms contained in Section 9(a) of this Agreement, the conveyance or dedications of any portion of the Public Facilities or the Public Property, the Dedicated Property or the Public Facilities to the City or other appropriate governmental agency, or the granting of easements or permits to facilitate the development of the Project. Section 12. Eminent Domain. If the whole of the Public Facilities shall be taken under the power of eminent domain, then this Agreement shall terminate as of the date possession shall be so taken. If less than the whole of the Public Facilities shall be taken under the power of eminent domain, then this Agreement shall continue in full force and effect and shall not be terminated by virtue of such taking, and the parties hereto waive the benefit of any law to the contrary, and in such event there shall be a partial abatement of the Base Rental Payments due under the terms of this Agreement. 4'73859 Any award made in eminent domain proceedings for the taking or damaging of the Public Facilities, in whole or in part, shall be paid to Developer to the extent of the then remaining balance of the Principal Component of the Leasehold Value, plus any portion of the Interest Component which is then accrued but not yet paid. The amount of the award which is in excess of the sum needed to pay Developer the then remaining balance of the Principal Component, plus any accrued but then unpaid portion of the Interest Component, shall be paid to the City. Section 13. Liens. The City shall pay or cause to be paid when due, all sums of money that may become due for, or purporting to be for, any labor, services, materials, supplies or equipment alleged to have been furnished or to be furnished to or for the Public Facilities throughout the term of the Public Property Sublease and which may be secured by any mechanics', materialmen's or other lien against the Public Facilities and/or Developer's interest therein, and the City shall further cause each such lien to be fully discharged and released, provided however, that if the City and/or Developer desires to contest any such lien, that party may do so upon posting security in a form and amount acceptable to the other party sufficient to pay said sums in the event that said liens are reduced to final judgment. Developer shall cooperate with the City in its efforts to discharge and release any liens pursuant to this Section 13 and shall further discharge and release or cause to be discharged and released any liens created directly or indirectly by Developer on or against the Public Facilities. Section 14. Quiet Enjoyment. The parties hereto mutually covenant and agree that the City, by keeping and performing the covenants contained herein, shall at all times during the term of this Agreement peaceable and quietly, have, hold and enjoy the Public Facilities without hindrance or molestation by Developer or anyone whose rights arise through Developer. Section 15. Notices. All notices, statements, demands, requests, consents, approvals, authorizations, offers, or designations hereunder by either party to the other shall be in writing and shall be served upon the other party by registered mail, personal service, or facsimile, at the addresses set forth below: City: City of La Quinta 78-495 Calle Tampico La Quinta, California 92253 Developer: Home Depot U.S.A., Inc. 601 S. Placentia Fullerton, CA 92831 Attention: Legal Department 3hmdpt.les I I 473859 Section 16. Taxes. During the term of this Agreement, the City shall be responsible for and pay when due any ad valorem taxes, or special assessments, if any, levied upon the Public Property and/or the Public Facilities or upon any parties' interest therein. The parties hereto agree to cooperate with each other in any effort to apply for exemption from any such tax or assessment. Throughout the term of this Agreement, Developer shall pay any gross receipt taxes, income taxes or any other form of tax whatsoever which may be levied upon Developer's rental income derived from this Agreement. Section 17. Waiver. The waiver by either party of any breach by the other party of any term, covenant or condition hereof shall not operate as a waiver of any subsequent breach of the same or any other term, covenant or condition hereof. To be effective, any waiver must be in writing and signed by an authorized representative of the party bound by said waiver. Section 18. Default by the City. If the City fails to pay any Base Renal Payments due hereunder within ten (10) days from the date that such Base Renal Payment is due and payable, or if the City fails to keep any other terms, covenants or conditions herein for a period of thirty (30) days after written notice thereof from Developer to the City, or if the City shall abandon or vacate the Public Facilities, or if the City's interest in this Agreement or any part thereof shall be assigned or transferred to violation of the terms of this Agreement, either voluntarily or by operation of law, then in such events the City shall be deemed to be in default under the terms of this Agreement. If the City should, after written notice from Developer, fail to remedy any default within thirty (30) days from the date of such notice, then Developer shall have the right, at its option, without further demand or notice, to take an action or legal proceeding to recover Base Rental payments as they become due pursuant to Section 7 of this Agreement, or to cause the City to keep any other terms or covenants required of it, without terminating this Agreement or the City's right to possession of the Public Facilities, and Developer shall further have the right to recover all costs and fees incurred by it in collecting said rents and/or enforcing the terms of this Agreement, including without limitation, attorneys' fees and costs. Without limiting the generality of the foregoing, Developer shall have the remedy described in California Civil Code Section 1951.4, providing that Developer. may continue this Agreement in effect after the City's breach and abandonment and recover rent as it becomes due, if the City has the right to sublet or assign, subject only to reasonable limitations.. Section 19. Default by Developer. If Developer shall fail to keep any terms, conditions or covenants contained in this Agreement for a period of thirty (30) days after written notice thereof from the City to Developer, or if Developer shall file any petition or institute any proceedings wherein Developer asks or seeks 3hmdpt.les 12 473859 to be adjudicated a bankrupt, or to be discharged from any or all of its debts or obligations, or offers to its creditors to effect a composition or extension of time to pay Developer's debts, or Developer seeks a reorganization or seeks to effect a plan of reorganization or readjustment of Developer's debts, or if any such petition or proceeding of a same or similar nature shall be filed, or instituted against Developer, and Developer shall fail to have such petition or proceeding dismissed within sixty (60) days of its filing, then and in such event Developer shall be deemed to be in default hereunder. If Developer should, after written notice from the City, fail to remedy any such default within thirty (30) days of said notice, then the City shall have the right, at its option, to terminate this Agreement by delivering written notice of such intent to terminate to Developer not less than thirty (30) days prior to the effective date of such termination, and after the effective date of such termination, the City shall be relieved of all obligations hereunder, provided however, as long as the City continues to use the Public Facilities, the City shall continue to make the Base Rental Payments pursuant to Section 7 hereof to Developer or its successor in interest. Section 20. Hazardous Materials. (a) Developer's Representations. Developer hereby represents that, to the best of its knowledge, the Dedicated Property is not in violation of any currently existing federal, state or local hazardous materials laws. Developer further agrees that it shall indemnify, protect, defend and hold harmless the City from and against any and all claims, liabilities, suits, losses, costs, expenses and damages arising from any breach of the above representation, including but not limited to attorneys' fees arising from any claim for loss or damage to property, including the Dedicated Property, and the improvements thereon; for personal injury or death of persons; or for the cost of remediation necessitated by the presence of hazardous materials which existed on the Dedicated Property prior to the Commencement Date of the Public Property Sublease and not otherwise resulting from the City's use or possession of the Dedicated Property. (b) City's Representation. City hereby represents that, to the best of its knowledge, the Existing Right -of -Way is not in violation of any currently existing federal, state or local hazardous materials laws. City further agrees that it shall indemnify, protect, defend and hold harmless the Developer from and against any and all claims, liabilities, suits, losses, costs, expenses and damages arising from any breach of the above representation, including but not limited to attorneys' fees arising from any claim for loss or damage to property, including the Existing Right of Way, and the improvements thereon; for personal injury or death of persons; or for the cost of remediation necessitated by the presence of hazardous materials which existed on the Existing Right of Way prior to the commencement date of the Public Property Lease and not otherwise resulting from the Developer's use or possession of the Existing Right of Way. Section 21. Attorneys Fees. In any action or arbitration arising directly or indirectly out of the terms of this Agreement, the prevailing party shall be entitled to all costs and expenses, including without limitation, actual attorneys' fees and costs of suit whether in equity or in an action at law as may be necessary to enforce the terms and conditions of this Agreement. Amdpdes 13 4'73859 Section 22. Oration to Purchase. The City at any time during the term of this Agreement, shall have the option to purchase the Public Facilities in the manner provided in this Section. The City may exercise its option to purchase the Public Facilities by giving Developer not less than sixty (60) days' prior written notice of its intent to exercise such option. The City's notice of intent to exercise its option shall specify the date upon which the purchase shall occur ("Purchase Date"), which Purchase Date must coincide with the due date for the City's payment to Developer of a Base Rental Payment as such dates are defined in Section 7 of this Agreement. Upon exercising its option to purchase the Public Facilities, the purchase price ("Purchase Price") to be paid by the City to Developer shall be equal to the outstanding balance, as of the Purchase Date, of the Principal Component of the Leasehold Value. On the Purchase Date, the City shall pay the full amount of the Purchase Price to Developer in immediately available funds, and the City shall also pay at that time, in cash or other immediately available funds, the amount of any Base Rental Payments which have accrued prior to the Purchase Date, but which Base Rental Payments have not yet been paid to Developer. Upon the City's exercise of its option and upon the City's payment to Developer of the Purchase Price and Base Rental Payments as provided under the terms of this Section 21, all right, title and interest of Developer in and to the Public Property and the Public Facilities shall be transferred to the City "as is" and without warranty. Section 23. Recordation and Filing. Upon full execution of this Agreement, Developer shall record this Agreement in the Official Records of the City Recorder for the City of La Quinta, California. Section 24. Entire Agreement. This Agreement contains the entire Agreement of the parties hereto with reference to the subject matter hereof, and supersedes all negotiations or previous agreements between the parties with respect to all or any portion of the subject matter hereof. Section 25. Validity and Severabili1y. If any one or more of the terms, provisions, promises, covenants or conditions contained in this Agreement shall to any extent be adjudged invalid, unenforceable, void or voidable for any reason whatsoever by a final decision of a court of competent jurisdiction, then each of the remaining terms, provisions, promises, covenants and conditions contained herein shall remain unaffected thereby and shall be valid and enforceable to the fullest extent permitted by law. If for any reason this Agreement shall be held by a court of competent jurisdiction to be void, voidable, or unenforceable by Developer or by the City, or if for any reason it is held by such a court that the covenants and conditions of the City or Developer hereunder, including covenants to pay rents as set forth in this Agreement, is unenforceable for the full term hereunder, then and in such event for and in consideration of the right of the City to possess, occupy and use the Public Facilities and the right of Developer to occupy the Project, which rights in such event are hereby granted, this Agreement shall thereupon become and shall thereafter be deemed to be a lease from year to year under which the annual rentals herein specified will be paid by the City and Developer respectively. 3hmdpt.les 14 4'73859 Section 26. Headings. Any headings contained in this Agreement are solely for the purposes of convenience of reference and shall not constitute a part hereof nor shall they be utilized to interpret any term or condition contained in this Agreement. Section 27. Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original, and all of which when taken together shall be deemed a single original. Section 28. Governin La .. This Agreement shall be construed and governed by the laws of the State of California. Section 29. Time of the Essence. Time is of the essence with respect to this Agreement. Section 30. Amendments. This Agreement may be amended at any time, and from time to time provided, however, that no amendment of this Agreement shall be effective unless such amendment is in writing and signed by all parties hereto. Section 31. Other Documents. The parties hereto agree that each shall, concurrently herewith or at any time hereafter, upon reasonable demand by the other, execute any other documents or instruments and do or cause to be done any other acts as may be necessary or convenient to carry out the intent and purposes of this Agreement. Section 32. Successors. Subject to the provisions contained herein, this Agreement shall be binding upon and inure to the benefit of the successors and assigns of the respective parties hereto. Section 33. Authority. The persons executing this Agreement on behalf of the parties hereto warrant that (a) the party is duly organized and existing; (b) they are duly authorized to execute and deliver this 3hmdpt.les 15 4'73859 Agreement on behalf of said parry; (c) by so executing this Agreement, such party is formally bound to the provisions contained herein; (d) the entering into of this Agreement does not violate any provision of any other agreement to which that party is bound; and (e) there is no litigation nor legal proceeding or other legal impediment which would prevent the parties from entering into this Agreement. Section 34. Exhibits and Recitals. The Recitals contained in this Agreement, and each and every one of the Exhibits referenced in this Agreement shall be deemed to be incorporated herein by this reference. The Exhibits attached hereto are as follows: Exhibit Description "A" Legal Description of Project Site "B" Depiction of Project Site "C" Legal Description of Dedicated Property (Jefferson Street) "D" Depiction of Dedicated Property (Jefferson Street) "E" Legal Description of Dedicated Property (Highway 111) "F" Depiction of Dedicated Property (Highway 111) "G Legal Description of Existing Right -of -Way (Jefferson Street) "H" Depiction of Existing Right-of-way (Jefferson Street) "I" Public Facilities " J" Standard City Form IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and attested to by the proper officers for each of the parties and the official seals of the parties to be hereto affixed, all as of the day ad year first above written. CITY OF LA QUINTA, a municipal corporation B u2-,, y: RON PERKINS, Mayor Pro Tern U L. JUH06/A, City Clerk APPROVED AS TO FORM: DAWN C. HONEYWE , City Attorney 3hmdpt.les 16 4'73859 HOME DEPOT U.S.A., INC., a Delaware corporation CREDIT SUISSE LEASING 92A, L.P., a Delaware limited partnership "Owner" By: Home Depot U.S.A., Inc., as attorney in fact under power of attorney dated �By 3hmdpt.les 17 4'73859 STATE OF CALIFORNIA ss. COUNTY OF ORANGE ) On ^4�tw (,� , before me, �/ `� 1 A �(JrJ� a Notary Public in and for said state, personally appeared DANIEL R. kXTCK personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument, the person, or the entity upon behalf of which the person acted, executed the instrument. WITNESS my hand and official fi - Notary Public in and d State COMM. • 1064114 Notary PUb1C — C01f MW ORANGE COUNTY My Comm. Etas MAR 26.1999 OC 963410.004BNS/H3985-070/12-06-96/mfl 4.73859 LEGAL DESCRIPTION OF PROJECT SITE THAT PORTION OF THE NORTMAST QUARTER OF SECTION 29, TOWNSHIP 5 SOLTIiI, RANG£ 7 EAST, SAN BMINAPMU40 MMMIAN, IN TAB = OF LA QMNTA, COUNTY OF RIVERSIDE, STATE OF CALIFOR14W DESCRMED AS FOLLOWS: THE EAST HALF OF MM EAST M-QUARTERS OF SAID NORTHEAST QUARTER OF SECTION 29; F.XC�. G =ROM TEAT PORTION LYING NOP- IMLY OF MM SC=HERLY = OF THAT CERTAIN PF.It SIUAL RIGHT OF WAY DEDICATED ICATED TO nM COACIMLLA VALLEY STORM WATER DISTMCT OF RIVERSIDE COUNTY BY A FINAL DECREE OF CONDEMNATION RECORDM) OCTOBER 6, 1723 IN BOOK 591, PAGE =3 OF DEEDS, RECORDS OF SAID COUNTY; ALSO EXCEwe,I TEEMN 'SAT PORTION CONS TO THE STA33 OF CALIFORNIA BY DEED RECORDED FE9RIJARY 13, 1936, IN BOOK 2M, PAGE 24 OF OFFICIAL PECORDS OF SAID COUNTY; ALSO IICCF.PTIl�IG ?nt-REFROM T13E EASTERLY 44 Fri CONVEYED TO TM COUNTY OF BY DEED RECORDED Z : ' MBER 19, 1961, AS INSTRUUM4T NO 108910 OF OFRC2AL RECORDS SAID COUNTY; ALSO EXCMrMG EOM THAT PORTION CONVEYED TO 7MIE COUNTY OF RZV] tSIDE BY DEED RECORDED OCTOBER 3, 1%8 AS INSTRMEENT NO.95403 OF OFFICIAL RECORDS OF SAID COUNTY; TOC Tim WrM TBE EAST HALF OF THE WFIST HALF OF TM EAST T'mM- QUARTERS OF SAID NOR'TiiEASI' QUARTER OF SECTION 29; EKCF�TII�IG 1 OM THAT PORTION LyWG NORTHERLY OF THE SOU 'l7im I.Y L M OF THAT tit?AII�I PERPETUAL RIGHT OF WAY DEDICATED TO THE COACSEi.LA VALLEY STORM WATER DISTRICT OF RIVE ME COUNTY BY A FINAL DEC RM OF CONDEMNATION RECORDED OC70BEEL 6, 1923 1N BOOK 591, PAGE = OF DEEDS, RECORDS OF SAID COUNTY; 18 473859 LLA 94-181 / PARCEL 1 ALSO EXCEPTING EOM THAT PORTION CONVEYED TO THE STATE OF CAL 0XI IA BY DEED RECORDED FEBRUARY 13, 1936, IN BOOK 268, PAGE 24 OF OFFICIAL RECORDS OF SAID COUNTY; THE ATTACHED PLAT LABELED E=IT %B" IS REPEBY MADE A PART OF THLS DESCRIPTION ILLIE, P.L.S.5749 DATE FIRES 12/31/99 IAMo S E. so( G9� Rik. sill 'TF ac c f� 4'73859 4q7 EXHIBIT "Be' ACCZP ; cv AS Z uy 1 FOUNO N0114ING. ESTABUSIED ViVESPAL i S. A Ha b: N. 1 / DEPICTION OF PROJECT SITE C INT. �iEs ARD Hu � As PALMS. AND AS N. I /4 CCR. ZEC Z9. ;M RX JE TERSON. AND AS N.E. &96_7Y (496_67^� WES 7NARD HO 1423.99' (1493.B3) MR- SEC 29. T= R7E N09'38'21'E l2554.28'. (N89'38 21'E $$654.OD') � � (N89'3W7_1'E 2554.00'1 PER IL N(L 21BO. 4197-39 MAPS) i• � A WEST LINE OF FIST l Z OF a I � Z I yEAST 2/4 OF N.E. OuARIM 1 I K. I FlESTi ORIVE i OF SEC. 29. TM, RILE . T 1ro—WEST UNE OF EAST 1 /4 OF N.E. OVARM CF 1 it t W + ROADRUNNEk LANE �SEG 29. TSS. RtiE j THERL7 UNE— i zacr' m E I 4V37-39 MAPS1_00 , II� I �,,jz UA"i1'z 11 I I Qi^ (31n N C 0 CAI ta alu ri Ion to I041 It I a OWE PAW It HWY 11 AND CCR7M SEC 29 T3 , R7E I I I _ P FRCS- 2 I SMRU WITEWA1ER SjO U CNAN6EL I PER 591/223 DEEDS I � I I LOT UNE---i I I ' SOuTN UNE YARMAIM 521 /223 mm P>� - t� UN ------w w UK aF-ew 1 I 1 /,t OF Im auARt'ER I (V SM 29. T55. R11E I � aoEj WUTKI I cmin or tm 1 /4 I SM m. TSS. RX I 1 ZW/24 C.R. /00 LINE 'h"TLVAIFR CHANNEL .,. �ARCE. 1 INSTR. No. laa91D O.R. I jINSTR. Na 92403 HIftWAY � _� _ 14Y2.E4' 1 �� �9s7.a7 (tas�.at•) T . N69Z9'WE 2550.S0' (N69'44rD1'E =3.08'1 (N99'43i 4'E ZU(LI ' PER CAL.--iRMS MONUMENT MAP A302—a004—=) () ' M5 Zi1�lg lia= 67. W64-65 MAPS. TITLE: PLAT TO ACCOMPANY LEGAL OESORIP110N LOT LINE AOJU S I MERIT No. 94-- 1 8l PREP InC.20 CM A . r..._ _ - - s..�.rno was FD. II.P., NO NUMBER AGMYTW AW INT. JEiP sm be HWY 11 AM AS E. .1 /4 GDR. SEC. 29. TSS. *#.► LAM tiyS�o� =� sa g � Na S7s �,� Ese. sllt• �, 4'73859 m:4 all tl: LEGAL DESCRIPTION OF DEDICATED PROPERTY PROPERTY TO BE DEDICATED ALONG JEFFERSON STREET THAT PORTION OF THE NORTHEAST QUARTER OF SECTION 29, TOWNSHIP 5 SOUTH, RANGE 7 EAST, SAN BERNARDINO MERIDIAN, IN THE CITY OF LA QUINTA, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ALSO BEING A PORTION OF PARCEL 1, AS SHOWN ON LOT LINE ADJUSTMENT NO. 94-181, RECORDED OCTOBER 22, 1996 AS INSTRUMENT NO. 96-404708 OF OFFICIAL RECORDS OF SAID COUNTY, SAID PORTION MORE PARTICULARLY AS FOLLOWS: BEGINNING AT THE INTERSECTION OF THE SOUTHERLY LINE OF THAT CERTAIN EASEMENT GRANTED TO THE COACHELLA VALLEY COUNTY WATER DISTRICT IN A DOCUMENT RECORDED JUKE 23, 1960 IN BOOK 2719, PAGE 62 OF OFFICIAL RECORDS OF SAID COUNTY, WITH THE WESTERLY LINE OF JEFFERSON AVENUE, 44 FOOT HALF -WIDTH, AS DESCRIBED IN THAT CERTAIN DEED TO THE COUNTY OF RIVERSIDE, RECORDED DECEMBER 19, 1961 AS INSTRUMENT NO. 108910 OF OFFICIAL RECORDS OF SAID COUNTY; THENCE SOUTH 0°04'39" EAST 780.87 FEET ALONG SAID WESTERLY LINE TO THE BEGINNING OF A CURVE CONCAVE WESTERLY, HAVING A RADIUS OF 30.00 FEET; THENCE SOUTHERLY ALONG SAID CURVE, ALSO BEING THE NORTHWESTERLY LINE OF THAT CERTAIN PARCEL DESCRIBED IN A DEED TO THE STATE OF CALIFORNIA, RECORDED OCTOBER 3, 1968 AS INSTRUMENT 95403 OF OFFICIAL RECORDS OF SAID COUNTY, THROUGH A CENTRAL ANGLE OF 6053'32", AN ARC LENGTH OF 3.61 FEET TO A POINT ON A NON -TANGENT LINE, SAID LINE BEING PARALLEL WITH AND DISTANT NORTHERLY 86.00 FEET, MEASURED AT RIGHT ANGLES, FROM THE CENTERLINE OF HIGHWAY 111, AS SHOWN ON CAL -TRANS MONUMENT MAP A302-0004-006; THENCE SOUTH 89°5819" WEST 66.81 FEET ALONG SAID PARALLEL LINE TO A POINT OF CUSP THAT IS THE BEGINNING OF A CURVE CONCAVE NORTHWESTERLY, HAVING A RADIUS OF 30.00 FEET; THENCE NORTHEASTERLY ALONG SAID CURVE, THROUGH A CENTRAL ANGLE OF 90002'58", AN ARC LENGTH OF 47.15 FEET; THENCE NORTH 0004'39" WEST 45.94 FEET; THENCE NORTH 0°57'51" EAST 113.94 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE EASTERLY, HAVING A RADIUS OF 229.44 FEET, THENCE NORTHERLY ALONG SAID CURVE, THROUGH A CENTRAL ANGLE OF 11021-59", AN ARC LENGTH OF 45.52 FEET TO A POINT OF REVERSE CURVE, SAID REVERSE CURVE BEING CONCAVE WESTERLY, HAVING A RADIUS OF 229.44 FEET, THENCE NORTHERLY ALONG LAST SAID CURVE, THROUGH A CENTRAL ANGLE OF 11021'59", AN ARC LENGTH OF 45.52 FEET; THENCE NORTH 21 473859 005751" EAST 345.79 FEET, THENCE NORTH 0104'39" WEST 152.41 FEET TO A POINT ON SAID SOUTHERLY LINE OF THE COACHELLA VALLEY COUNTY WATER DISTRICT EASEMENT, SAID SOUTHERLY LINE BEING A CURVE CONCAVE NORTHWESTERLY, HAVING A RADIUS OF 3500.00 FEET, A RADIAL LINE TO SAID POINT BEARS NORTH 18046'53" WEST; THENCE NORTHEASTERLY ALONG SAID CURVE, THROUGH A CENTRAL ANGLE OF 00 18'41 ", AN ARC LENGTH OF 19.02 FEET TO THE POINT OF BEGINNING; 22 EXHIBIT 473859 WESTWARD HO Q ,-90-02,5al &-06'53'32" 1 R=30.00' R-30 00' 'r I T=30.03' L=a7.15' I T-1.81' I - I L-3.51' WEST LINE OF ! EAST 1 /2 OF ci n t QB N00'04'39'W I O N89-55-19-E I EAST 3/4 OF ',N.E. QUARTER 45.94 I 66.81' I OF SEC. 29, 7S, R11E © NOO-57-51-E I I I I 113.94 1 I r---WEST LINE OF EAST 1/4 t i OO 6,=11'21'59' I OF N.E. QUARTER OF 1 I SEC. 29, TSS, R11E \Z t7 Q T=22 83 Ls45'S4 2 i WEST LINE OF EAS� 1 /2 OF WEST I I i 1/2 OF EAST 3/4 OF N.E. QUARTER \ t I I OF SEC. 29, TSS, f 11E i A-00'18.41' I I R-3500 00' I I PARCEL Z T-9.51' CL ; I I I LLA 94-1 q1 96-404708 0 R L-19.02' 0� N N I ! SOUTH LINE WHITEWATER W , ! STORM CHANNEL PER Z I 591 / I23 DEEDS N00'04'39'W 152.41' SOUTH LINE OF CHANNEL EASEMENT PER 2719/62 O.R. PARCEL 1 LLA 94 -181 $ 1 96-404708 O.R. INSTR. No. 108910 O.R- I I I r17.Z4Q1,�w _� �- WEST LINE Old EAST I (RAO) 1 /2 OF N.E. QUARTER OF SEC. 29, j5S, R11E HYVIf 111 FU;IURE HWY 111 C_ 0 1 PERCALTRANS RIGHT OF WAY 268/24 O.R. S. UNE N.E. 1 /4 SEC. 29, T5S. R7E 1490.67' N89'39'22'E 2650.08' III INSTR. NO. 95403 O.R. THE BASIS OF BEARINGS IS THE CENTERUNE OF JEFFERSON AVENUE BEING N00'04'39'W PER TR. NO. 2180, 41/37-39 MAPS. TITLE: PLAT TO ACCOMPANY *­-F E LEGAL DESCRIPTION OF FUTURE RIGHT-OF-WAY _ (RAO)(JEFFERSON AVENUE) CORNER DETAIL N.T.S. ME Sir & Ebrelml, Inc. Emir t CNII Engk*wkq . Plsadnp • Sunv#q • PuNg Works H ®- FUTURE RIGHT —OF —WA) 13821 Newport Ail. Suilt 200 • UK CA 22NO-7803 a 714/544-3404 23 DATE OF PREPARATION: 11 20 96 Sc' 1•-2so' JOB NO. 5134-OC 473859 EXHIBIT "E" LEGAL DESCRIPTION OF DEDICATED PROPERTY PROPERTY TO BE DEDICATED FOR RIGHT-OF-WAY ON HIGHWAY 111 THAT PORTION OF THE NORTHEAST QUARTER OF SECTION 29, TOWNSHIP 5 SOUTH, RANGE 7 EAST, SAN BERNARDINO MERIDIAN, IN THE CITY OF LA QUINTA, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ALSO BEING A PORTION OF PARCEL 1, AS SHOWN ON LOT LINE ADJUSTMENT NO. 94-181, RECORDED OCTOBER 22, 1996 AS INSTRUMENT NO. 96-404708 OF OFFICIAL RECORDS OF SAID COUNTY, SAID PORTION MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF THE NORTHWESTERLY LINE OF THAT CERTAIN PARCEL DESCRIBED IN A DEED TO THE STATE OF CALIFORNIA, RECORDED OCTOBER 3, 1968 AS INSTRUMENT NO. 95403 OF OFFICIAL RECORDS OF SAID COUNTY, WITH A LINE THAT IS PARALLEL WITH AND DISTANT NORTHERLY 86.00 FEET, MEASURED AT RIGHT ANGLES, FROM THE CENTERLINE OF HIGHWAY 111, AS SHOWN ON CAL - TRANS MONUMENT MAP A302-0004-006, SAID NORTHWESTERLY LINE BEING A CURVE CONCAVE NORTHWESTERLY, HAVING A RADIUS OF 30.00 FEET; THENCE SOUTHWESTERLY ALONG SAID CURVE AND SAID NORTHWESTERLY LINE, THROUGH A CENTRAL ANGLE OF 82°50'29", AN ARC LENGTH OF 43.38 FEET TO A TANGENT LINE, SAID TANGENT LINE BEING THE NORTHERLY LINE OF THAT CERTAIN PARCEL DESCRIBED IN A DEED TO THE STATE OF CALIFORNIA, RECORDED FEBRUARY 13, 1936 IN BOOK 268, PAGE 24 OF OFFICIAL RECORDS OF SAID COUNTY; THENCE SOUTH 89039'22" WEST 1416.86 FEET ALONG SAID NORTHERLY LINE TO ITS INTERSECTION WITH THE WESTERLY LINE OF THE EAST HALF OF THE WEST HALF OF THE EAST THREE-QUARTERS OF SAID NORTHEAST QUARTER OF SECTION 29; THENCE NORTH 0°07'49" WEST 34.23 FEET ALONG SAID WESTERLY LINE TO ITS INTERSECTION WITH SAID LINE THAT IS PARALLEL TO THE CENTERLINE OF HIGHWAY 111; THENCE NORTH 89058'l9" EAST 1446.52 FEET TO THE POINT OF BEGINNING. 24 .9 �I a� EXHIBIT F ��9 wESTw�o Ho 4'73 WEST LINE OF EAST 1/2 OF EAST 3/4 OF IN.E. QUARTER OF SEC. 29, TPS, R11E I I�—WEST LINE OF EAST 1/4 I I I OF N.E. QUARTER OF {-- WEST LINE OF EAST 1 /2I OF WEST i SEC. 29. T5S. R11E I 112, OF EAST 3/4 OF NJE. QUARTER OF SEC. 29. T55, R11E I { j PARCEL Z LLA 94-1 q1 1 96-404708 O.R. L-- WEST LINE OF EAST 1 /2 OF N.E. QUARTER OF SEC. 29, T5S, R11E i N000749W 34.23' i , I S. LINE N.E.1/�� -o' SEC.29, T5S. R7E M3 to —SOUTH LINE WHITEWATER I STORM CHANNEL PER I 591/223 DEEDS I FUTURE JEFFERSON I AVE RIGHT OF WAY--1 PARCEL 1 I LLA 194-181 I 96-404708 O.R. I INSTR. NO. 108910 O.R I HWY 111 PER CALTRANS »> 1490.67' N89'39'22'E 2650.08' THE 3ASIS OF BEARINGS IS THE CENTERLINE OF JEFFERSON AVENUE BEING NO'04'39"W PER TR. NO. 2180, 41/37-39 MAPS. TITLE: PLAT TO ACCOMPANY LEGAL DESCRIPTION OF FUTURE RIGHT—OF—WAY (STATE HIGHWAY 111) MOW Hall & Foreman, Inc. ®m 1r A Ova Engineering • Planning . Surveying • Public Works 13821 Newport Ave.. Suite 200 • Tustin, CA 92680-7803. 714/544-3404 O.R. INSTR. NO. 95403 0. I r— 44' n{ ra zl (D a=82'50'29" R=30.00' T=26.47' L=43.38' 25 N Q 1.-25W / J�(R OQZ A P.O.S. [9161M[91=01:10 ® = FUTURE RIGHT—OF—WAY DATE OF PREPARATION: 11 T07 96 SCALE: JOB NO. 5134-002 4'73859 EXHIBIT "G" LEGAL DESCRIPTION OF EXISTING RIGHT-OF-WAY OF JEFFERSON STREET THAT PORTION OF THE NORTHEAST QUARTER OF SECTION 29, TOWNSHIP 5 SOUTH, RANGE 7 EAST, SAN BERNARDINO MERIDIAN, IN THE CITY OF LA QUINTA, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, BEING THAT CERTAIN PARCEL OF LAND DESCRIBED IN A DEED TO THE COUNTY OF RIVERSIDE, RECORDED DECEMBER 19, 1961 AS INSTRUMENT NO. 108910 OF OFFICIAL RECORDS OF SAID.COUNTY, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED IN SAID DEED AS FOLLOWS: THE EASTERLY RECTANGULAR 44 FEET OF THE EASTERLY 1485 FEET OF THE NORTHEAST QUARTER OF SECTION 29, T. 5 S., R. 7 E., S.B.B.M., LYING SOUTH OF THE COACHELLA VALLEY COUNTY WATER DISTRICT FLOOD CHANNEL. EXCEPTING THEREFROM THAT PORTION THEREOF IN STATE HIGHWAY 64- Q 26 II I I I I I I II�--WET LINE 0 1/z OF EAST I cf. i OF EC. 29. I � I I al I to 1 Z ci I F EXHIBIT H 473859 WESTWARD HO I I 1 WEST LINE OFIEAST 1/2 OF Qi EAST 3/4 OF IN.E. QUARTER I OF SEC. 29, TPS, R11E I �--WEST LINE OF EAST 1/4 OF N.E. QUARTER OF EAST 1 /21 OF WEST I SEC. 29, T5S, R11E I I 3/4 OF NJE. QUARTER I I T5S, R11E I IIPARCEL 24 LLA 94-1 �1 96-404708 Q.R. 44' I i I I �— WEST LINE OF? EAST 1 /2 OF N.E. QUARTER II OF SEC. 29, T5S, R11 E I W SOUTH LINE WHITEWATER STORM CHANNEL PER � 591/223 DEEDS HN 1I PARCEL 1 LLA 94-181 96-404708 O.R. I INSTR. 268/24 O.R. HIGHWAY _ 1490.67' N89'39'22'E 2650.08' to THE BASIS OF BEARINGS IS THE CENTERLINE OF JEFFERSON AVENUE BEING NO'04'39"W PER TR. NO. 2180. 41/37-39 MAPS. 11TLE: PLAT TO ACCOMPANY LEGAL DESCRIPTION OF EXISTING RIGHT—OF—WAY (JEFFERSON AVENUE) =01F Hall & Foreman, Inc. Emir A Civil Engineering - Planning - Surveying - Public Works 13821 Newport Ave.. Suite 200 - Tustin. CA 92680-7803. 714/544-3404 NO. 108910 O.R. 44' INSTR. NO. 95403 111 Q 8 ®— EXIS 11NG RIGHT—OF—WAY Nn u `SCALE: 1 "=250' DATE OF PREPARATION: 11 /07/96 27 JOB NO. 5134-002 4'73859 EXHIBIT "I" PUBLIC FACILITIES JEFFERSON STREET IMPROVEMENTS - SEE JEFFERSON STREET IMPROVEMENT PLANS WIM 6" Curb and Gutter 8" Median Curb Meandering Sidewalk Cross Guners/Spandrel Unclassified Excavation/Removal 5-1 /2" A.C. Over 6-1 /2" Base Misc. Signing and Striping Access Ramps Parkway Landscaping Relocate Signs Relocate Electric Meters Remove AC Paving Remove Curb Adjust To Grade Total Estimated Cost QUANTITY UNIT_ UNIT COST TOTAL COST 800 LF $ 10.00 $ 8,000 150 LF 9.50 1,425 4,500 SF 2.50 11,250 1,200 SF 3.50 4,200 860 CY 10.00 8,600 23,200 SF 2.25 52,200 1 LS 7,500.00 7,500 4 EA 750.00 3,000 9,600 SF 2.00 19,200 5 EA 150.00 750 2 EA 350.00 700 1,400 SF 0.60 840 150 LF 3.00 450 l EA 250 250 HIGHWAY I I I IMPROVEMENTS - SEE HIGHWAY I I I STREET IMPROVEMENT PLANS $118,365 ITEM QUANTITY UNIT UNIT COST TOTAL COST 6" Curb and Gutter 1,300 LF S 10.00 S 13,000 i 1/2" A.C. Over 6 1/2 Base 28,600 SF 1.50 42,900 Meandering Sidewalk 10,400 SF 2.50 26,000 Cross Gutters/Spandrel 1,200 SF 3.50 4,200 Unclassified Excavation/ Removal 1,600 CY 10.00 16,000 Catch Basin l EA 3.500.00 3,500 24" RCP Pipe 50 LF 48.00 2,400 28 4'73859 Signing and Striping I LS 7,500.00 7,500 Access Ramps 7. EA 750.00 5,250 Parkway Landscaping 28,600 SF 2.00 57,200 Signal Modifications - Jefferson Street 1 LS 50,000.00 50,000 New Signal - Project Entrance 1 LS 90,000.00 90,000 18" Off Site Waterline to Dune Palms 1,900 LF 45.00 85,500 Connection to Existing Dune Palms Waterline 1 EA 10,000 10,000 IS" Butterfly Valves 5 EA 2,500.00 12,500 6" Blow Off 1 EA 1,500.00 1,500 2" Air -Vac Valve 1 EA 1,000.00 1,000 Misc. Fittings 1 LS 5,000.00 5,000 Total Estimated Cost $433,450 WHITEWATER CHANNEL LINING IMPROVEMENTS - SEE CHANNEL LINING PLANS ITEM QUANTITY UNIT UNIT COST Channel Lining (Includes Excavation) 840 LF $250.00 Liner Wrap Around I LS 30,000.00 CVWD Connection Fee 1 LS 4,800.00 Outlet Structure 1 LS 15,000.00 Total Estimated Cost ELECTRICAL UNDERGROUNDING - IID PLANS (JEFFERSON STREET AND HIGHWAY 111) ITEM QUANTITY UNIT UNIT COST Undergrounding I LS $350.000 Total Estimated Cost TOTAL COST $210,000 30,000 4,800 15,000 $259,800 TOTAL COST $350,000 $350,000 29 473859 EXHIBIT "J" STANDARD CITY FORM _. Provide a copy of a completed State Board of Equalization Sales Tax Report. RX P.O. Box 1504 78-495 CALLS TAMPICO LA QUINTA, CALIFORNIA 92253 March 30, 2001 Mr. Greg George, Real Estate Manager The Home Depot 3800 W. Chapman Ave Orange, CA 92868 RE: Te i atio o the--Cityof La Quinta Public i Prep_rty Sublease Dear Mr. George, (760) 777-700 (TDD) (760) 777-122 The purpose of this letter is to give our sixty (60) day notice to terminate our sublease with Home Depot at the next regularly scheduled payment date of June 15, 2001. The City will prepare two checks on or before the 151 of June -(1) a check for the regular quarterly payment and (2) a check for the outstanding principal due after the quarterly payment . If you should have any questions please feel free to give me a call at 7 - - 9 60 777 7150. Thank you. Sincerely, 11 A4 John M. Falconer Finance Director J cc: Mark Weiss, Assistant City Manager er PTO