Tradition Club/Reimb Agree Curb Imp 97No Recording Fees Required Per
GoJernment,Code S: ction 6103
249086
RECEIVED FOR RECORD
AT 8:00 O'CLOCK
WHEN RECORDED, MAIL TO:
City of La Quinta
P.O. Box 1504
La Quinta, CA 92253
THIS REIMBURSEMENT AGRE
day of `Rly(e_
Associates L.L.C., a California
City of La Quinta, California,
A. Developer is the o
the City of La Quinta ("the
JUL 161997
F 13 Fri 12 12 ftm&d ift Oft"'NOWCW
i, ofwvvli�Cam. Ciftins
CITY OF LA QUINTA Raoorder
LLLREIMB I SENfE�11T MENT
T `fi` �,LtRI\ M
MENT (the "Agreement") is made and entered into this (—'4
19 1? , by and between Tradition Club
.imited Liability Corporation, hereinafter referred to as "Developer," and the
California Municipal Corporation hereinafter referred to as "City".
and proposed subdivider, via Tentative Map 27840 ("the Map"), of land in
") which lies generally South of Avenue 52 and east of Avenida Bermudas.
B. Conditions of Appro al for the Map obligate Developer to reimburse City for the cost of
improvements previously made by City to portions of Avenida Bermudas and Avenue 52 that front the Land
(the "Existing Improvements") which benefit and are rightful obligations of the Land.
C. Existing Improvements on Avenida Bermudas consist of pavement, curb & gutter and sidewalk on
the east side of the centerline with a reimbursement value of $246,525. Existing Improvements on Avenue
52 consist of one paved 18' travel lane in each direction, separated by an unimproved median, with a
reimbursement value of $14 ,275. The total value of improvements to both streets is $395,800 (the
Reimbursement Amount).
D. Developer agrees to
subdivision and/or develogr
E. City and Developer d
required as conditions of the
that Developer should rece
Improvements.
F. It is therefore nece
Additional Improvements and
of Developer.
NOW, THEREFORE, it is
1. Reimbursement. Su
City in the amount of $395,81
52 along the frontage of the
to City the Reimbursement Amount but desires to phase payment with the
of the Land.
that Developer construct off -site public improvements in addition to those
livision and development of the Land ("Additional Improvements") and agree
credit against the Reimbursement Amount for the costs of Additional
iry that City and Developer enter into this Agreement for construction of
mbursement of City's previous costs for improvements that are obligations
by and between the parties hereto as follows:
!ct to the terms and conditions set forth herein, Developer shall reimburse
for previously -constructed improvements to Avenida Bermudas and Avenue
2. Form of Reimbursemerl. Developer may reimburse City by cash payment or in the form of credits
against the reimbursement earned by constructing, to City's satisfaction, Additional Improvements as
defined in paragraph 3 below, the nature and cost of which are approved by City as eligible for credit against
the reimbursement.
3. Additional v . Developer shall construct the traffic signal at Avenue 52 and Washington
Street. The portion of the cost of the signal exceeding Developer's 50% responsibility shall be a credit
toward the Reimbursement Amount and shall be deemed to be part of the Additional Improvements.
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Developer may construct oth r Additional Improvements as described on Exhibit A attached hereto and
incorporated herein by this ref rence, and the costs of those improvements constructed shall be credited
toward the Reimbursement Anhount.
4. . Reimbursements due for any phase of subdivision of the Land ("phase")
shall be made prior to issuance f residential building permits within the phase. Model homes, if any, shall
not be considered "residence " for this purpose but may not be converted for residential purposes until
reimbursement has been made for the phase in which they are located.
5. Identification of Phasos. For the purpose of reimbursements, phases are defined as the four
divisions of the Land outlined in the Phasing Exhibit for this development as follows:
Phase 1: The most northerly group which consists of 89 lots,
Phase 2: he group of 60 lots immediately south of Phase 1,
Phase 3: he group of 42 lots immediately south of Phase 2, and
Phase 4: 1he most southerly group which consists of 52 lots.
6. Partial i Reimbursements shall be based on the following formula: The
Reimbursement Amount ($395, 00) shall be divided by the total number of lots to be developed on the Land
(242), leaving a per -lot reimb rsement of $1,635.54 (the "Prorated Per -Lot Reimbursement"). For each
phase of development, the num er of building lots in the phase shall be multiplied by twice the Prorated Per -
Lot Reimbursement to determi a the portion of the reimbursement due for that phase, until such time as
the total reimbursement has be n paid either in cash or in the form of credits for completion of Additional
Improvements.
7. Changein r . If changes are proposed to the total number of building lots in the
development, the Prorated Per- of Reimbursement shall be revised. For any lots for which reimbursement
has been previously paid usin a previous Prorated Per -Lot Reimbursement rate, an adjustment shall be
calculated using the revised Pror ted Per -Lot Reimbursement. If the revised Prorated Per -Lot Reimbursement
is greater, Developer shall pay t e adjustment for previously -approved lots to City as a condition of City's
approval of the change in numbe of lots. If the revised Prorated Per -Lot Reimbursement is lower, Developer
shall receive a credit, in the a ount of the adjustment, which will be applied to future reimbursement
payments.
8. Security f . Prior to approval of a subdivision of the. Land or any
portion thereof and prior to iss ance of permits for construction of buildings on the Land, Developer shall
provide security for the full Rei bursement Amount. Security shall comply with Title 13 of the La Quinta
Municipal Code.
9. Release of Re'Fd
i . As portions of the Reimbursement Amount are reimbursed by
Developer through cash payor credits, Developer may request reductions in the amount of
reimbursement security held bySaid requests shall be in writing to the City Engineer and shall be for
a minimum of twenty percent of the original amount of reimbursement security. When Developer
has made full reimbursement,per may request final release of reimbursement security. The City
Engineer shall, within thirty ays of Developer's request, evaluate Developer's request and, if
appropriate, inform the City o accept reduced security or release all security as requested by
Developer. If the City Engineeies a lesser or greater reduction than Developer's request, he or she
shall so notify Developer. If tsed reduction equals at least twenty percent (20%), and Developer
consents, the City Engineer shathe City Clerk to release the revised amount and the City Clerk shall
promptly release security in thved amount.
10. P Tr r : Developer shall not sell, assign or otherwise transfer ownership
of any portion of the Land for wh ch reimbursement has not been made unless the proposed purchaser (the
"transferee") has agreed with City to be bound by the terms of this agreement and has provided replacement
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security for the Prorated Per-Loi Reimbursement amount attributable to the property to be purchased. Upon
such agreement by the transferee, Developer shall be relieved of any further obligation under this agreement
as to the transferred property.
11. : In executing this Agreement, Developer affirms that it owns the
land and possesses legal auth rity to enter into this agreement and thereby obligate itself and successors
in interest in the Land to fulfill t e terms of this Agreement. If Developer fails to abide by this Agreement,
then the obligations set fort herein shall become a lien only on the portion of the Land for which
reimbursement has not been m de and, at City's discretion, on any or all improvements thereto or structures
thereon.
12. General Provisions.
A. The terms, conditio s, covenants, and agreements set forth herein shall apply to and bind the
heirs, executors, administrator , assigns, and successors of the parties hereto.
B. Neither party to thiAgreement relies upon any warranty or representation not contained in this
Agreement.
C. This Agreement sh 11 be governed by and interpreted with respect to the laws of the State of
California.
D. Any failure or delay by either party in asserting any of its rights and remedies as to any default
shall not operate as a waiver o any default or of any rights or remedies provided for herein.
E. This Agreement m y be amended at any time by the mutual consent of the parties by an
instrument in writing signed by both parties.
F. If either party com ences an action against the other party arising out of or in connection with
this Agreement, the prevailing arty shall be entitled to recover reasonable attorney's fees and legal costs
from the losing party.
13. Notice. Any notice, demand, request, consent, approval, or communication either party desires or
is required to give to the other arty or any person shall be in writing and either served personally or sent
by prepaid, first-class mail to the address set forth hereinafter. Notice shall be deemed communicated forty-
eight (48) hours from the time f mailing if mailed as provided in this Section.
14. Full With respect to reimbursement of the Reimbursement Amount, all
agreements of the parties hereto and all previous understandings, negotiations and agreements are integrated
into and superseded by this Ag eement.
15. Severability. In the eve t that any provision or provisions of this Agreement are held unenforceable,
all provisions not so held shall remain in full force and effect.
16. Authority f Sianatorie . The persons executing this Agreement on behalf of the parties hereto
warrant that they are duly auth rized to execute this Agreement on behalf of said parties and that by so
executing this Agreement the p rties are formally bound to the provisions of this Agreement.
remainder of this page is intentionally left blank.
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IN WITNESS WIRE
year first written above.
Approved as to Form:
, the parties hereto have executed this Agreement as of the day and
Attorney
CITY: C TY OF LA QUINTA
7 -495 Calle Tampico
L Quinta, CA 92253
7 0/777-7075
'V
Tom Genovesse, City
ATTVST:
Clerk
DEVELOPER:
By: y
Title: 0 ��/
Tr dition Club, L.L.C.
P.P. Box 1120
La Quinta, CA 92253
76 /564-7009
Date
By:
Date
Title:
9— q
Date
")- ? g 7
Date
249086
STATE OF MINNE$OTA
COUNTY OF
On June 5, 1997, befo e me, Catherine M. Thornhill, Notary Public, personally appeared
John Hankinson, pers nally known to me.
Witness my hand and lofficial seal
Signature of Notary
CATHERN M
NOTARY PUBLIC _ M�
HENNE?IN
249086
EXHIBIT A
ADDITIONAL IMPROVEMENTS
Improvement Estimated Reimbursement Value'
Avenue 52 from westerly tr
ct boundary to Ave Bermudas $108,500
Washington Street Signal (
igure listed is 50% of estimated cost) 75,000
Removal and replacement
f Ave Bermudas sidewalk 59,500
Minor drainage improveme
is to Washington/Ave 52 intersection 5,000
Modification to existing sto
m drain outlet at west boundary 5,000
Storm drain on south side
if Ave 52 east of Calle Rondo 75,000
The listed values are estimates. A
constructed in accordance with the
reimbursement values will based on actual costs of Additional Improvements
sions of the Agreement.
C:\WP\TRACTS\Agreements\28470-exhibitA
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State of California
County of Riverside
On July 10, 1997 before me, Regenia Hensley, Notary Public, personally appeared Dawn C.
Honeywell, City Attorney, Thomas P. Genovese, City Manager and Saundra L. Juhola, City
Clerk, personally kno to me to be the persons whose names are subscribed to the within
instrument and acknowle ed to me that they executed the same in their authorized capacities, and
that by their signatures on a instrument the person or the entity upon behalf of which the persons
acted, executed the inst ent.
WITNESS my hand and fficial seal. (Seal)
OFFICIAL SEAL
4 REGENIA HENSLEY
COMM. #1107891
' Notary Public - California
ON
RIVERSIDE COUNTY r
My Commission Expires
c.� ��UGUST 7, 2000
NIA HENSLEY
tary Public
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Date of Document: