Landmark Land/Ave 50 & Eisenhower Traffic Signal 85AGREEMENT FOR INSTALLATION OF
TRAFFIC CONTROL AND STREET IMPROVEMENTS
(Eisenhower Drive and Avenue 50)
THIS AGREEMENT is made and entered into this 2nd day of April, 1985,
by and between LANDMARK LAND COMPANY OF CALIFORNIA, INC., a Delaware
Corporation, herein referred to as "LANDMARK", and the CITY OF LA QUINTA, a
Municipal Corporation, herein referred to as "CITY".
WHEREAS, CITY contemplates the future installation of a traffic
control signal system at the intersection of Avenue 50 and Eisenhower
Drive; and
WHEREAS, LANDMARK and CITY desire to share the cost of said traffic
signal installation in a fair, equitable and proportionate manner; and
WHEREAS, the estimated cost of the traffic control signal system at
said intersection is $75,000, including engineering; and
WHEREAS, it is the intent of the CITY to construct a certain portion
of Eisenhower Drive, as specified herein, to full width and to make such
commitment to LANDMARK.
NOW, THEREFORE, IT IS AGREED by and between the parties hereto as
follows:
1. CONSTRUCTION OF IMPROVEMENTS. COST.
At such time as CITY authorizes the installation of
a traffic control signal system at the intersection
of Eisenhower Drive and Avenue 50, at the entrance
to Santa Rosa Cove, CITY shall construct or cause
to be constructed said traffic control system in
accordance with its approved plans and
specifications; and to maintain and operate said
traffic control system following installation.
LANDMARK agrees that it will pay fifty (50%)
percent of the cost of design and installation of
said system to CITY.
CITY further agrees to install or assess and authorize
the installation of pavement improvements on
Eisenhower Drive to its full width, in accordance
with CITY plans and specifications, from "Club La
Quinta" on the north to, and including, the
intersection of Avenue 50 on the south.
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2. TIME FOR AUTHORIZATION AND INSTALLATION.
City Manager of CITY shall recommend and the City
Council shall consider authorization of the traffic
control signal system installation at the time of
approval of its 1985-1986 budget. If authorized,
CITY agrees to install said signal within a
reasonable period of time following said
authorization and within the budget period of said
authorization. That is, if the system is
authorized (budgeted) in the 1985-86 budget, CITY
agrees to commence the installation within fiscal
year 1985-86.
The pavement improvement to Eisenhower Drive to full
width from Club La Quinta to Avenue 50, including
the intersection, may involve the formation of an
assessment district, or some other funding
mechanism for the assessment of the costs of such
improvement, against adjacent and benefitting
property owners. CITY agrees to make a good faith
effort to provide for such assessment district or
other mechanism within a reasonable period of time.
CITY intends, to the extent feasible, to complete
pavement work at the same time as signal
installation.
IN WITNESS WHEREOF, the parties hereto have executed this AGREEMENT on
the day and year first above written.
LANDMARK LAND COMPANY OF
CALIFORNIA, INC.
BY : Vo,
ANDY V SLER, VICE PRESIDENT
CITY OF LA QUINTA
APPROVED AS TO FORM: ATTEST:
CITY ATTORNEY CITY CLERK
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