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23268 Thomas Thornburgh 89CITY OF LA QUINTA SUBDIVISION IMPROVEMENT AGREEMENT No()JZIS AGREEMENT, made and entered into this day of Ey , 19 , by and between Thomas A. Thornburgh hereinafter ref rred to as "SUBDIVIDER", AND CITY OF LA QUINTA, a municipal corporation of the State of California, hereinafter referred to as "CITY". WHEREAS, the Subdivider has prepared and filed a final subdivision map of Tract No. 23268 in the City of La Quinta County of Riverside, for approval by the City; and WHEREAS, as a condition precedent to the approval of said map by City, Subdivider is required to offer dedication of those parcels of land intended for streets, highways, and other public use, and also to construct and install or agree to construct and install certain improvements on said dedicated parcels; and WHEREAS, Subdivider, by said map, has offered for dedication to City for public use certain streets and easements shown on said map; and WHEREAS, City desires to accept the streets and easements shown on said map for public use, and certain other such improvements; and WHEREAS, as a condition precedent to the acceptance of the dedication of such streets and easements by City, Subdivider is required to enter into an agreement with the City to construct certain improvements; and WHEREAS, the total cost of such improvements has been estimated by the City Engineer to be approximately $2,931,220.00 Dollars; and NOW, THEREFORE, IT IS AGREED by and between the parties thereto as follows: 1. Subdivider, at this sole cost and expense, shall construct and install the street, drainage, landscaping, domestic water, sanitary sewer and other improvements required to be constructed or agreed to be constructed as a condition precedent to the approval of said final map and acceptance of such streets and easements, as shown on the "Improvement Plans for Tract No. 23268 "; a copy of which is now on file in the office of the City Engineer of the City and which is referred to and incorporated herein as though set forth in full. 2. Subdivider shall furnish to City a security satisfactory in form and substance to City Attorney executed by a corporation authorized to transact surety business in the State of California on forms approved by the City, one security to be in the sum of $2,931,220.00 Dollars to assure the faithful performance of this Agreement, and one security to be in the sum of $1,465,610.00 Dollars to assure payment of the cost of labor and materials for the improvements required to be constructed or installed hereby. 3. Before final approval of the street improvements, the Subdivider will place survey monuments in accordance with the provisions of the State Subdivision Map Act and the Subdivision Ordinance of the City of La Quinta as shown on the Tract Map. The Subdivider, after setting the monuments, shall furnish the City Engineer of the City of La Quinta, written notice of the setting of said monuments and written proof of having paid the engineer or surveyor for the setting of said monuments, or as provided for in the Subdivision Map Act. 4. In accordance with the terms of said subdivision regulation aforesaid, the Subdivider does hereby agree to furnish a security satisfactory in form and substance to the City Attorney in the amount *an unmarried man, doing business as Valley Land Development Company Subdivision Improvement Agreeement Page 3 have been constructed in compliance with the standards and specification required by City for public streets. 16. Subdivider hereby guarantees said Streets for a period of one year following the completion by Subdivider, and approval by City Engineer, against any defective work or labor done, or defective materials furnished, in the performance of this Subdivision Improvement Agreement by Subdivider and shall repair or replace any such defective work or materials subsequently discovered. 17. Subdivider shall commence the construction and installation of said Streets within ninety (90) days from the approval of such "Improvement Plans" for Tract No. 23268 by the City Engineer, and shall complete such construction and installations within eighteen (18) months from such date of commencement; provided, that Subdivider shall have the option at its sole discretion to extend the completion period described herein past the eighteen (18) months time period to any future date said Subdivider may select. It is understood, however, that as a condition precedent to extending the aforementioned completion period, Subdivider shall furnish the City the securities described in Item No. 12 and Item No. 13 herein covering any extended completion period selected by Subdivider pursuant to this paragraph. The amount of said securities to be furnished to City pursuant to this paragraph shall be sufficient to insure the performance of additional work to complete, after taking into account work already performed, the aforementioned Streets. Said securities amount to insure completion shall be determined by City's engineer. 18. The labor and material security required herein at Item No.12 and No. 13 shall be retained to secure payment to the contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials for six (6) months after completion and approval of the work provided at Item No. 11 herein by the City Engineer. 19. Ten percent (10%) of the performance security required by Item No. 12 and No. 13 herein shall be retained by the City for one (1) year to support the guarantee of the improvements by the Subdivider as required by Item No. 11 herein. 20. In the event that Subdivider fails to perform any obligation hereunder, Subdivider authorized City to perform such obligation sixty (60) days after mailing written Notice of Default to Subdivider at the address given below, and agrees to pay the entire cost of such performance by City. 21. In the event that Subdivider fails to perform any obligation hereunder, Subdivider agrees to pay all costs and expenses incurred by City in securing performance of such obligations, including costs of suit and reasonable attorney's fees. In the event that Subdivider is unable to perform within the time limits herein due to causes beyond his control, such as strikes, acts of God, etc., all time limits will be extended by the same amount of time as caused by such delay. 22. Subdivider hereby binds itself, its executors, administrators and assigns, and agrees to indemnify, defend and hold the City harmless from any losses, claims, demands, actions or causes of action of any natLre whatsoever, arisina out of or n env wav ti.u..,.ect�a with the improvements agreed to be cons Lruur-ed and installed hereunder by the Subdivider, including costs of suit and reasonable attorney's fees. Subdivision Improvement Agreeement Page 4 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above. CITY OF LA QUINTA : BYAltl/l L��4� Ronald L. Kiedrowski City Manager ATTEST: ity Clerk SUBDIVIDER: Thomas A. Thornburgh, an unmarried man, doing business as Vallev Land Development Co. By: Address: Subscribed and Sworn to before me this 19 day of JANUARY 19 90 , Seal of Notary_Nrcac r G�' OFFICIAL SEAL E. DIANE BLEVINS u NOTARY PL3LIC • CALIFORNIA PRINCIPAL OFFICE IN RIVERSIDE COUNTY �.„ ,,,,,,• rty Com�niss:on Exp. Apr. 20, 1990 REVIEWED AND APPROVED CEvlfineer Date EXHIBIT 'A' TO SUBDIVISION IMPROVEMENT AGREEMENT TRACT NO. 2-3268 DEFERRED IMPROVEMENTS The following street improvement items are deferred for future construction by the City as needed and at the cost of the Subdivider. MEDIAN ISLAND: The construction of the raised curbed and landscaped median along Miles Avenue along the Southerly boundary of Tract No. 23268 is deferred at this time for future construction by the City on an as needed basis to be determined by the City. The Subdivider shall bear fifty (500) percent of the cost of the median construction including incidentals. The Subdivider's estimated share of the median construction cost including incidentals is $60,000.00 payable upon demand to the City for construction purposes. The Subdivider's cost shall be based on actual construction cost plus incidentals not to exceed $60,000.00. Following completion of construction of the median, and in the event that the Subdivider's deposit exceeds fifty (500) percent of the total construction cost, the balance of the deposit shall be refunded to the Subdivider. FAITHFUL PERFORMANCE BOND (Subdivision) KNOW ALL MEN BY THESE PRESENTS, That We, BOND NO. PREMIUM: 3SM 754 676 oo $252.00/2 yrs. THQMAS A. THORNBURGH . as Principal, and AMERICAN MOTORISTS INSURANCE COMPANY Surety, are held and f irmly bound unto the City of La Quinta as Obligee, in the sum of SIXTEEN THOUSAND EIGHT s------ Dollars ($ 16, 800.00 ) , lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered. into a Subdivision Agreement with said Obligee, dated in which said Principal agrees to construct designated public improvements, as follows: SUBDIVISION MONUMENTATION TRACT NO. 23268 and, as a condition of approving said Subdivision, the Principal is required to give a bond to guarantee completion of said improvements. NOW, THEREFORE, if said Principal shall well and truly do and perform all the covenants and obligations of said agreement on its part to be done and performed at the time and in the manner specified therein, then this obligation shall be null and void; otherwise, it shall be and remain in full force and effect and, in addition, Surety agrees to pay reasonable attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond. rSigned and sealed on November 17 .1989 , THOMAS A. THORNBURGH Venturer Princi BY: By: Surety: AMERICAN MOTORISTS INSURANCE B COMPANY BY: ........... oy-Lo rnein-fact LOU JONES & ASSOCIATES 7470 NO. FIGUEROA P. 0. BOX 41375 ANGELES, CA 90041-1091 I FAITHFUL PERFORMANCE BOND (Subdivision) KNOW ALL MEN BY THESE PRESENTS, That We, BOND NO 3SM 754 681 00 PREMIUM: $900.00/2 yrs. THOMAS A. THORNBURGH . as Principal, and AMERICAN MOTORISTS INSURANCE COMPANY Surety, are held and firmly bound unto the City of .La ' Quinta as Obligee, in the sum of SIXTY THOUSAND AND NO1100ths--------------------- -------------------------- , Dollars ($ 0,000.00 } lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with said Obligee, dated f in which said Principal agrees to construct designated public improvements, as follows: MILES AVENUE MEDIAN ISLAND) TRACT NO. 23268 and, as a condition of approving said Subdivision, the Principal is required to give a bond to guarantee completion of said improvements. NOW, THEREFORE, if said Principal shall well and truly do and perform all the covenants and obligations of said agreement on its part to be done and performed at the time and in the manner specified therein, then this obligation shall be null and void; otherwise, it shall be and remain in full force and effect and, in addition, Surety agrees to pay reasonable attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond. Signed and sealed on November 17 , .1989 • THOMAS A. THORNBURGH. Venturer Principal B By: Surety: AMERICAN MOTORISTS INSURANCE BY: COMPANY BY:....:. Loifts E. Jone , torney-in-fact 'LOU JONES & ASSOCIATES 7470 NO. FIGUEROA P. 0. BOX 41375 MA ANGELES, CA 90041-1091 BOND NO. 3SM 754 681 00 PREMIUM: Included in Performance Bond LABOR AND MATERIAL PAYMENT BOND (Subdivision) KNOW ALL MEN BY THESE PRESENTS, That We, THOMAS A. THORNBURGH as Principal, and AMERICAN MOTORISTS INSURANCE COMPANY Surety, are held and firmly bound unto the City of La Quinta as Obligee, in the sum of THIRTY THOUSAND AND N0 100 hs--------------------- --------------------------------------------------------------------------------- Dollars ($ 30)000.00 ) , lawful money of the United States, for the payment of which.sum well and truly to be made, we bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with said Obligee, dated F in which said Principal agrees to construct designated public improvements, as follows: MILES AVENUE MEDIAN ISLAND, TRACT NO. 23268 and, as a condition of approving said Subdivision, the Principal is required to give a Labor and Material Payment Bond as herein provided. NOW, THEREFORE, if said Principal or any contractor or subcontractor fails to pay for any materials, provisions, or rented equipment used in upon, or for or about the construction of the public improvements or performance of the work to be done, or for any work or labor done of any kind, in or on such impri-)vements, said Surety will pay the same in an amount not exceeding the sum set forth above and, in addition, the Surety agrees to pay reasonable attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond. .e This bond shall inure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials to them for the improvements. Signed and sealed on November 17, 1989 THOMAS A. THORNBURGH Venturer Princip By: BY: Surety: American Motorists Insurance B om any LOU JONES & ASSOCIATES 7470 NO. FIGUEROA BY: P. o. BOX 41375 - uis E . o es, Attorney -in -fact N BOND NO. 3SM ?54 677 00 PREMIUM: Included in Performance Bond LABOR AND MATERIAL PAYMENT BOND (Subdivision) KNOW ALL MEN BY THESE PRESENTS,, That We,, THOMAS A. THORNBURGH as Principal, and AMERICAN MOTORISTS INSURANCE COMPANY Surety, are held and firmly bound unto the City of La Quinta as Obligee, in the sum of NINE HUNDRED NINETY ONE THOUSAND NE HUNDRED EIGH Y SIX AND NO/100ths--------------------------------------------------------- -------- Dolla., s ($ 991,186. 00 ) , lawful money of the United States, for the payment of which.sum well and truly to be made, we bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with said Obligee, dated in which said Principal agrees to construct designated public improvements, as follows: STREET IMPROVEMENT INCLUDING GRADING AND STORM DRAINAGE TRACT NO. 23268 and, as a condition of approving said Subdivision, the Principal is required to give a Labor and Material Payment Bond as herein provided. NOW, THEREFORE, if said Principal or any contractor or subcontractor fails to pay for any materials, provisions, or rented equipment used in upon, or for or about the construction of the public improvements or performance of the work to be done, or for any work or labor done of any kind, in or on such improvements, said Surety will pay the same in an amount not, exceeding the sum set forth above and, in addition, the Surety agrees to pay reasonable attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond. This bond shall inure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials to them for the improvements. Signed and sealed on November 17, 1989 THOMAS A. THORNBURGH Venturer Principal BY: By: Surety: American__Xa4orists Insurance B ° y LOU JONES & ASSOCIATES 7470 NO. FIGUEROA BY: P. 0. BOX 41375 - Louis E , nes LO11 ANE6 Attorney -in -fact BOND NO. 3SM 754 677 00 PREMIUM: 29,7 6.00/2 yrs. FAITHFUL PERFORMANCE BOND (Subdivision) KNOW ALL MEN BY THESE PRESENTS , That We , THOMAS A. THORNBURGH . as Principal, and AMERICAN MOTORISTS INSURANCE COMPANY Surety, are held and firmly bound unto the City of La ' Quinta as Obligee, in the sum of THREE HUNDRED SEVENTY TWO AND Nu/nutlis --------------------------------------------- Dollars ($ 1,982,372.00 ) , lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves jointly and severally, firmly by these presents-. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with said Obligee, dated in which said Principal agrees to construct designated public improvements, as follows: STREET IMPROVEMENT INCLUDING GRADING AND STORM DRAINAGE TRACT NO. 23268 and, as a condition of approving said Subdivision, the Principal is required to give a bond to guarantee completion of said improvements. NOW, THEREFORE, if said Principal shall well and truly do and perform all the covenants and obligations of said agreement on its part to be done and performed at the time and in the manner specified therein, then this obligation shall be null and void; otherwise, it shall be and remain in full force and effect and, in addition, Surety agrees to pay reasonable attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond. Signed and sealed on November 17, .1989 . THOMAS A. THORNBURGH Venturer Principalz B By: Surety: AMERICAN MOTORISTS INSURANCE By : s COMPANY BY:....:... Loui E. Jones--,'Attorney-in-fact tOU JONES & ASSOCIATES 7470 NO. FiGUEROA P. 0. BOX 41375 BOND NO. 3SM 754 678 00 PREMIUM: $3,285.00/2 yrs. FAITHFUL PERFORMANCE BOND (Subdivision) KNOW ALL MEN BY THESE PRESENTS,, That We , THOMAS A. THOR,NBUR.GH as Principal, and AMERICAN MOTORISTS INSURANCE COMPANY Surety, are held and firmly bound unto the City of La ' Quinta as Obligee, in the sum of TWO HUNDRED NINETEE N 100ths-------- --------------------------------- Dollars ( $), lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with said Obligee, dated in which said Principal agrees to construct designated public improvements, as follows: LANDSCAPING BASIN AND PERIMETER LOTS, TRACT NO. 23268 and, as a condition of approving said Subdivision, the Principal is required to give a bond to guarantee completion of said improvements. NOW, THEREFORE, if said Principal shall well and truly do and perform all the covenants and obligations of said agreement on its part to be done and performed at the time and in the manner specified therein, then this obligation shall be null and void; otherwise, it shall be and remain in full force and effect and, in addition, Surety agrees to pay reasonable attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond. J Signed and sealed on November 17 l 8 THOMAS A. THORNBURGH Venturer Princip By: By: Surety: AMERICAN MOTORISTS INSURANCE B COMPANY 6 BY: s E. Jon , ttorney-in-fact LOU JONES & ASSOCIATES 7470 NO. FIGUEROA P. 0. BOX 41375 ILA ANe91 ce Pe Wndl _1 nn1 BOND NO. 3SM 754 678 00 PREMIUM: Included in Performance Bond LABOR AND MATERIAL PAYMENT BOND (Subdivision) KNOW ALL MEN BY THESE PRESENTS, That We, THOMAS A. THORNBURGH as Principal, and AMERICAN MOTORISTS INSURANCE COMPANY Surety, are held and firmly bound unto the City of La Quinta as Obligee, in the sum of ONE HUNDRED NINE THOUSAND FIVE HUNDRED AND NOI hs-- ------------------------------------------------------------------------------------ Dollars ($ 109, 500.00 ) , lawful money of the United States, for the payment of which.sum well and truly to be made, we bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with said Obligee, dated , in which said Principal agrees to construct designated public improvements, as follows: LANDSCAPING BASIN AND PERIMETER LOTS, TRACT NO. 23268 and, as a condition of approving said Subdivision, the Principal is required to give a Labor and Material Payment Bond as herein provided. NOW, THEREFORE, if said Principal or any contractor or subcontractor fails to pay for any materials, provisions, or rented equipment used in upon, or for or about the construction of the public improvements or performance of the work to be done, or for any work or labor done of any kind, in or on such improvements, said Surety will pay the same in an amount not exceeding the sum. set forth above and, in addition, the Surety agrees to pay reasonable attorneys' fees in the. event that it becomes necessary to bring an action to enforce this bond. This bond shall inure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials to them for the improvements. Signed and sealed on November 17, 1989 LOU JONES & ASSOCIATES 7470 NO. FIGUEROA P. 0. BOX 41375 - LA9 ANGILES. ca anndl A nc, THOMAS A. THORNBURGH Venturer Princi By: B Suret : American Motorists Insurance B omP 000 BY: uis E. Jones, Attorney -in -fact FAITHFUL PERFORMANCE BOND (Subdivision) KNOW ALL MEN BY THESE PRESENTS, That We, BOND NO. 3SM 754 679 00 PREMIUM: $5,594.00/2 yrs. THOMAS A. THORNBURGH . as Principal, and AMERICAN MOTORISTS INSURANCE COMPANY Surety, are held and firmly bound unto the City of La Quinta as Obligee, in the sum of THREE HUNDRED SEVENTY TWO THOUSAND NINE HUNDRED FIFTY FIVE AND NO/100ths --------------------------------------------------------- Dollars ($ y ), lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with said Obligee, dated in which said Principal agrees to construct designated public improvements, as follows: SANITARY SEWER FACILITIES, TRACT NO. 23268 and, as a condition of approving said Subdivision, the Principal is required to give a bond to guarantee completion of said improvements. NOW, THEREFORE, if said Principal shall well and truly do and perform all the covenants and obligations of said agreement on its part to be done and performed at the time and in the manner specified therein, then this obligation shall be null and void; otherwise, it shall be and remain in full force and effect and, in addition, Surety agrees to pay reasonable attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond. Signed and sealed on November 17 , 1989 • THOMAS A. THORNBURGH. Venturer Principal B BY: Sure : AMERICAN MOTORISTS INSURANCE By: COMPANY uis E. Jo s, Attorney, fact LOU JONES & ASSOCIATES 7470 NO. FIGUEROA P. 0. BOX 41375 MA ANOELES9 CA 90041-1091 BOND NO. 3SM 754 679 00 PREMIUM: Included in Performance Bond LABOR AND MATERIAL PAYMENT BOND (Subdivision) KNOW ALL MEN BY THESE PRESENTS, That We, THOMAS A. THORNBURGH as Principal, and AMERICAN MOTORISTS INSURANCE COMPANY Surety, are held and firmly bound unto the City of La Quinta as Obligee, in the sum of ONE HUNDRED EIGHTY SIX THOUSAND FOUR HUNDRED SEVENTY SEVEN AND 0/lQOths------ ------- -------- ---------------------------------- Dollars ($ 186, 77.50 ) , lawful money of the United States, for the payment of which.sum well and truly to be made, we bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with said Obligee, dated F in which said Principal agrees to construct designated public improvements, as follows: SANITARY SEWER FACILITIES, TRACT NO. 23268 and, as a condition of approving said Subdivision, the Principal is required to give a Labor and Material Payment Bond as herein provided. NOW, THEREFORE, if said Principal or any contractor or subcontractor fails to pay for any materials, provisions, or rented equipment used in upon, or for or about the construction of the public improvements or performance of the work to be done, or for any work or labor done of any kind, in or on such improvements, said Surety will pay the same in an amount not exceeding the sum set forth above and, in addition, the Surety agrees to pay reasonable attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond. This bond shall inure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials to them for the improvements. Signed and sealed on November 17, 1989 THOMAS A. THORNBUR.GH Venturer Princip By: B • Sure : American Motorists Insurance BY: om LOU JONES & ASSOCIATES 7470 NO. FIGUEROA BY: P. 0. BOX 41375 - Louis E . ones. Attorney -in -fact FAITHFUL PERFORMANCE BOND (Subdivision) KNOW ALL MEN BY THESE PRESENTS, That We, BOND NO.3SM 754 680 00 PREMIUM: $5,353.00/2 yrs. THOMAS A. THORNBURGH . as Principal, and AMERICAN MOTORISTS INSURANCE COMPANY Surety, are held and firmly bound unto the City of La ' Quinta as Obligee, in the sum of THREE HUNDRED FIFTY SIX TROUSAND EIGHT =RED NINETY THREE AND NO//100ths----------------------- --------------------------------- Dollars ($ States, for bind ourselves i, 893.00 ) , lawful money of the United the payment of which sum well and truly to be made, we jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with said Obligee, dated I in which said Principal agrees to construct designated public improvements, as follows: WATER SYSTEMS FACILITIES, TRACT NO. 23268 and, as a condition of approving said Subdivision, the Principal is required to give a bond to guarantee completion of said improvements. NOW, THEREFORE, if said Principal shall well and truly do and perform all the covenants and obligations of said agreement on its part to be done and performed at the time and in the manner specified therein, then this obligation shall be null and void; otherwise, it shall be and remain in full force and effect and, in addition, Surety agrees to pay reasonable attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond. r Signed and sealed on November 17 .1989 THOMAS A. THORNBURGH Venturer Principa K.-. BY: BY: Surety: AMERICAN MOTORISTS INSURANCE By: COMPANY Louis E. J es, Attorney -in -fact LOU JONES & ASSOCIATES 7470 NO. FIGUEROA P. 0. BOX 41375 $ ANGELES, CA 90041-1091 BOND NO. 3SM 754 680 00 PREMIUM: Included in Performance Bond LABOR AND MATERIAL PAYMENT BOND (Subdivision) KNOW ALL MEN BY THESE PRESENTS, That We, THOMAS A. THORNBURGH as Principal, and AMERICAN MOTORISTS INSURANCE COMPANY Surety, are held and firmly bound unto the City of La Quinta as Obligee, in the sum of ONE HUNDRED SEVENTY EIGHT THOUSAND FOUR IJUNDRED FORTY SIX AND 50/100ths--------- -------- , ----------------------------------------- Dollars ($ 178, 446.50 ) , lawful money of the United States, for the payment of which.sum well and truly to be made, we bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with said Obligee, dated , in which said Principal agrees to construct designated public improvements, as follows: WATER SYSTEMS FACILITIES, TRACT NO. 23268 and as a condition of approving said Subdivision, the Principal is required to give a Labor and Material Payment Bond as herein provided. NOW, THEREFORE, if said Principal or any contractor or subcontractor fails to pay for any materials, provisions, or rented equipment used in upon, or for or about the construction of the public improvements or performance of the work to be done, or for any work or labor done of any kind, in or on such improvements, said Surety will pay the same in an amount not exceeding the sum set forth above and, in addition, the Surety agrees to pay reasonable attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond. - This bond shall inure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials to them for the improvements. Signed and sealed on November 17, 1989 THOMAS A. THORNBURGH Venturer Princip BY: BY: Suret : American &torists Insurance By: ° LOU JONES & ASSOCIATES 7470 NO. FIGUEROA BY P. 0. BOX 41375 - uis E , Tones. Attorney -in -fact OUTSTANDING BOND REPORT Name: Thomas A. Thornburgh (Tierra del Sol) Tract No. 23268 Date of Contract: November 7, 1989 Required Bond Amounts: $ 16,800 - monument $1,982,372 - streets $ 991,186 - streets/labor & materials $ 219,000 - landscaping $ 109,500 - landscaping/labor & materials $ 60,000 - future street improvements $ 356,893 - water $ 372,955 - sewer Dates of Bond Reductions: On 5/7/91, streets were reduced to $594,606 and $991,186; landscape was reduced to $153,300 and $109,500 (no replacement bonds in file for either one); water & sewer were released? On 4/5/94, landscape performance security was reduced to $13,000 for IID, with warranty to be released on 4/5/95; labor and material security of $1,100,686 to be released by 7/4/94. Outstanding Bonds: Insurance Co: American Motorists Ins. Co. n___j ni_ $ 16,800 - monument $ 991,186 - str/labor $1,982,372 - streets (reduced to $594,606 on 517191) $ 219,000 - landscape (reduced to $153,300 on 517191) $ 109,500 - land/labor $ 60,000 - median/fut. $ 30,000 - median/labor $ 372,955 -sewer $ 186,477.50 -sewer Date Cancelled/Released: 3SM 754 676 00 Released 5122/06 3SM 754 677 00 Released 5/22/06 3SM 754 677 00 Released 5/22/06 3SM 754 678 00 Released 5/22/06 3SM 754 678 00 Released 5/22/06 3SM 754 681 00 KM"T Wk"MA 91*1 well] 3SM 754 679 00 Released 5/22/06 3SM 754 679 00 Released 5/22/06 $ 356,893 -water $ 178,446.50 - water 3SM 754 680 00 Released 5/22/06 3SM 754 680 00 Released 5/22/06 PLEASE COMPLETE THIS INFORMATION RECORDING REQUESTED BY: JUNE S. GREEK, City Clerk AND WHEN RECORDED MAIL TO: CITY OF LA QUINTA Attn: June Greek P. 0. Box 1504 78-495 Calle Tampico La Quinta, CA 92253 DOC N 2004-0911950 11/16/2004 08:06A Fee:NC Page i of 4 Recorded In OffLctal Records County of Riverside Gary L. Orso Assessor, County Clerk & Recorder 11111111111111111111111111111111111111111111111111111 see m oommoim MEN MONINIIIEffABORA SPACE ABOVE FOR RECORDER'S USE ONLY RESOLUTION NO: 2004-121 Acceptance of Declaration of Dedication Tract Map No. 23268 Title of Document USE ONLY THIS PAGE ADDED TO PROVIDE ADEQUATE SPACE FOR RECORDING INFORMATION ($3.00 Additional Recording Fee Applies) C:IMYDATA\WPDOCS\FORMS\Recorder.wpd TC J RESOLUTION NO. 2004-121 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA ACCCEPTING THE DECLARATION OF DEDICATION TO THE CITY OF LOTS 1 THROUGH 8 OF TRACT MAP NO. 23268 FOR FLOOD RETENTION PURPOSES (APN 604-231-024 THROUGH - 031) WHEREAS, the- construction and offer of dedication of- the retention basin on Lots 1 through 8 of Tract Map No. 23268 (APN 604-231-024 through -031) was a condition of the Acacia development project; and WHEREAS, the property -so offered for dedication. is more fully described in Exhibit. "A" hereto, which description is incorporated herein as though set forth in full. (hereinafter referred to as the "Dedicated Property"); and WHEREAS, the retention basin was subsequently installed by the developer -of Acacia development project on the Dedicated Property; and WHEREAS, a Declaration of Dedication for the flood retention basin was accordingly recorded with the County of Riverside on February 16, 1990 as Instrument 60382; and -WHEREAS, the City of La Quinta now desires to accept said Declaration of Dedication in order to avoid any confusion as to the permitted use of the Dedicated Property and to ensure the continued maintenance of- the property for flood retention purposes. NOW, THEREFORE,. BE IT RESOLVED, by the City Council of the -City of La Quinta, California as follows: SECTION 1. The City Council of the City of La Quinta hereby accepts the Dedicated Property. SECTION 2.. The City Clerk of the City of La Quinta is hereby authorized to record this Resolution in the Office of the County Recorder in the County. of Riverside, State of California. PASSED; APPROVED and ADOPTED at a regular meeting of the City Council of the City of La Quinta, California held on this 2' day of November 2004, by the following vote: Resolution No. 2004-121 Acceptance of Declaration of Dedication RW-D 2004-059 Adopted: November 2, 2004 Page 2 AYES: Council Members Henderson, Osborne, Perkins, Sniff, Mayor Adolph NOES: None ABSENT: None ABSTAIN: None DON A OLPH, ayor 'City of La Quinta, California ATTEST: JWt 9. GREEK, CMffC1ty Clerk City of La Quinta, California (SEAL) APPROVED AS TO FORWI: CityAM.K&HERINE JE O City. of La Quinta, California 3O Certify that the foregoing is fA 1fW AW correct copy of the odg d6Mq Ont containing which is on file. in the Office of the City a {4"Fil Clerk of the City of la Quir>ta. Calitwnfe Dated: _ Ju eek. CMC/AAE City Clerk ResobAon No. 2004-121 Acceptance of Declaration of Dedication RW-D 2004-059 Adopted: November 2, 2004 Page 3 EXHIBIT "A" Description of Real. Property: "Lots 1 through t, inclusive, of Tract Map No. 23268, as recorded in Map Book . 213, Page 67-73 in the office of the County Recorder, County of Riverside, State of California APN 604-231-024 through -031