23773-3 Starlight Dunes 97CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement") is made and entered into this
o'Z! s4" day of 19 9/7 , by and between
Starlight Dunes, L.L.C., a California Limited liability Company hereinafter referred to as "Subdivider," and
the City of La Quinta, a municipal corporation of the State of California, hereinafter referred to as "City."
Izi
A. Subdivider has prepared and filed a final map or parcel map (the "Map") of a unit of land in the City
of La Quinta, County of Riverside, which unit of land is known as Tract No. 23773-3 (the "Tract") pursuant
to the provisions of Section 66410, et sec. of the California Government Code (the "Subdivision Map Act").
B. Prior to approval of the Map, Subdivider is required -to install or agree to install certain public and
private improvements (the "Improvements")
C. The Improvements have not been installed and accepted at this time.
D. It is therefore necessary that Subdivider and City enter into an agreement for the installation of the
Improvements as provided in Section 66462 of the Subdivision Map Act.
NOW, THEREFORE, it is agreed by and between the parties hereto as follows:
1. Improvement Plans. Prior to submittal of the Map for approval by the City Council, Subdivider shall
furnish original improvement plans meeting the requirements of the City Engineer.
2. Improvements. Subdivider shall construct the public and private street, drainage, utility, landscaping,
and other improvements required to be constructed or agreed to be constructed under this Agreement as
listed in Exhibit "A", and shall bear the full cost thereof. The methods, standards, specifications, sequence,
and scheduling of construction shall be as approved by the City Engineer.
A. One class of security to be provided by Subdivider, hereinafter referred to as "performance
security," shall assure the faithful performance of this Agreement including construction of the
Improvements, payment of Subdivider's fair share of Improvements which have been or will be constructed
by others ("Participatory Improvements"), and payment of plan check and permit fees. A second class of
security to be provided by Subdivider, hereinafter referred to as "payment security," shall assure the
payment of the cost of labor, equipment and materials supplied to construct the Improvements. A third
class of security to be provided by Subdivider, hereinafter referred to as "warranty security," shall serve as
a guarantee and warranty of the Improvements for a period of one year following the completion and
acceptance of the Improvements. Subdivider shall furnish performance and payment security prior to and
as a condition of City Council approval of the Map. Subdivider shall provide warranty security after
Improvements are complete and accepted by the City Council and prior to or concurrently with the final
release of performance security. Warranty security shall not be required for monumentation or Participatory
Improvements.
As part of the obligation secured by each of the performance security, payment security and
warranty security, and in addition to the face amount of each such security, each such security shall include
and assure the payment of costs and reasonable expenses and fees, including reasonable attorney's fees,
incurred by City in successfully enforcing the obligations thereby secured.
Subdivision Improvement Agreement - Tract 23773-3 Page 1 of 7
B. Improvement security shall conform with Section 66499 of the California Government Code and
one or more of the following:
1) A cash deposit with City or a responsible escrow agent or trust company, at City's option.
2) Surety bonds, of the form specified in subsection 66499.2 of the California Government
Code, issued by a surety or sureties listed in the U.S. Department of Treasury Circular 570
(latest version).
3) Certificates of deposit, in City's name, from one or more financial institutions subject to
regulation by the state or federal government and having a financial quality rating of "A" or
better and a commitment reliability rating of "R-2" or better on the Investment Data Exchange
(of the Los Angeles County Treasurer's office) .
4) Irrevocable letters of credit, issued by one or more financial institutions meeting the
requirements of Paragraph (3), pledging that the funds necessary to carry out the completion
of the Improvements are on deposit, guaranteed for payment, and constitute a trust fund
which is not subject to levy or attachment by any creditor of the depositor until released by
City. Letters of credit shall guarantee that all or any portion of the funds available pursuant
to the letters of credit will be paid upon the written demand of City and that such written
demand need not present documentation of any type as a condition of payment, including
proof of loss. The duration of any such letter of credit shall be for a period of not less than
one year from the execution of the agreement with which it is provided and shall state, on
its face, that the letter of credit will be automatically renewed until such time that City
authorizes its expiration or until sixty (60) days after City receives notice from the financial
institution of intent to allow expiration of the letter of credit.
5) A lien upon the subdivided property, if City finds that it would not be in the public interest
to require the installation of the Improvements sooner that two (2) years after recordation of
the final map or parcel map for which the Improvements are required. The lien shall provide
a collateral value of three (3) times the estimated cost of the Improvements and shall include
the power of sale of the real property, all buildings and improvements thereon, or that may
be erected upon or made thereto, together with all hereditaments and appurtenances
thereunto belonging, or in any wise appertaining, and the reservations, remainders, rents,
issues, and profits thereof. The collateral value of the property shall be established at
Subdivider's expense through an appraisal approved by City.
6) An instrument of credit from an agency of the state, federal or local government, when any
agency of the state, federal, or local government provides at least Twenty Percent (20%) of
the financing for the Improvements.
7) When Subdivider is a non-profit organization, security may be negotiable bonds, of the kind
approved for securing deposits of public moneys with City or in favor of City, as specified
in Section 16430 of the California Government Code, deposited, at City's option, with City
or a responsible escrow agent or trust company.
C. All securities shall be furnished in accordance with the provisions of Exhibit A. The amount of
the performance security shall equal One Hundred Percent (100%) of the estimated cost of constructing the
Improvements, including payment of plan check and permit fees, as estimated by the City Engineer or a duly
authorized representative of the City Engineer. The amount of Payment security shall equal the amount of
the amount of performance security, except as otherwise set forth in Exhibit A, and shall be furnished as
a separate security. Warranty security shall equal Ten Percent (10%) of the amount of performance security
except as otherwise set forth in Exhibit A.
Subdivision Improvement Agreement - Tract 23773-3 Page 2 of 7
D. At time of submittal of security, Subdivider shall pay to City administrative fees applicable to the
form of security provided. Administrative fees shall apply to the subdivision (final map, parcel map or waiver
of parcel map) rather than to individual security instruments. The fees shall be paid separately for each
different form and/or source (surety or financial institution) of security initially submitted and for substitution
of securities but shall not be required for submittal of warranty security if the warranty security is of the
same form and from the same source as the performance security it replaces. Administrative fees for
security shall be as follows:
1) For certificates of deposit and letters of credit as described in Paragraphs 3) and 4) of
SECTION 3.13., for which establishment of evidence of reliability of the financial institution
requires City's membership in the Investment Data Exchange, the administrative fee shall be
One Hundred Fifty Dollars ($150.00).
2) For liens on real property as described in Paragraph 5) of SECTION 3.13., for which City will
prepare lien agreements and subordination agreements, administer valuation of the real
property and administer the agreements over the life of the lien, all of which require legal
assistance and financial advice, Subdivider shall pay to City an administration fee of One Half
of One Percent (0.5%) of the estimated cost of the improvements secured but not less than
Five Hundred Dollars ($500.00) nor more than Five Thousand Dollars ($5,000.00).
3) For other forms of security listed in Section 3 B, above, there will be no administrative fee.
E. Participatory Improvements, if any, are identified in Exhibit A. Security for Participatory
Improvements shall remain in place until the Participatory Improvements are constructed and actual costs
are known and paid by Subdivider, or until Subdivider pays to City the estimated cost of the Participatory
Improvements, and shall guarantee the reimbursement by Subdivider of Subdivider's share of the cost of
the Participatory Improvements. Payment security and warranty security shall not be required for
Participatory Improvements.
Upon written demand from City, Subdivider shall deposit cash with City in lieu of or in replacement of
security guaranteeing Participatory Improvements. If Subdivider fails to deposit said cash within 30 days
of the date of the written demand from City, City may present a written demand to Subdivider's Surety for
payment of said cash and Subdivider's Surety shall pay to City the lesser of: 1) the amount demanded, or
2) the amount of the security.
F. Security shall be released in the following manner:
1) Performance security shall be released upon the final completion and acceptance or approval,
by the City Council of the Improvements subject to the provisions of paragraph B.
2) The City Engineer may authorize partial reduction of performance security as work
progresses, upon application by Subdivider. However, no such reduction shall be for an
amount less than Ten Percent (10%) of the total performance security provided for the
faithful performance of the act or work. In no event shall security be reduced below that
required to guarantee the completion of the act or work or obligation secured, plus Ten
Percent (10%). The City Engineer shall not allow more than two partial reductions of
security furnished for any improvement agreement.
3) Participatory Improvement security shall be released upon payment by Subdivider of
Subdivider's share of the cost or estimated cost of the Participatory Improvements.
4) If City receives no notice of recorded claims of lien, labor and materials security shall be
released in full 90 days after final acceptance and/or approval by the City Council, of the
Subdivision Improvement Agreement - Tract 23773-3 Page 3 of 7
Improvements. If City receives notice of any recorded lien, the provisions of the Subdivision
Map Act shall apply.
5) Warranty security not utilized during the warranty period shall be released one year after final
acceptance or approval by the City Council of the Improvements provided, however, that if
at the end of the one-year warranty period, there are one or more outstanding requests by
City for performance of work or provision of materials under the terms of the warranty,
warranty security shall be retained until the outstanding requests are satisfied or until
Subdivider has made other arrangements satisfactory to the City Engineer.
4. Permits Required. Prior to commencing any phase of work, Subdivider shall obtain all permits
required for that phase of work and pay all required fees. Work performed under a permit or permits shall
comply with all provisions of the required permits.
5. Off -site Improvements. When the construction of one or more of the Improvements requires or
necessitates the acquisition of real property not owned by Subdivider or City, Subdivider shall use its best
efforts purchase such real property at a reasonable price. In the event that Subdivider is unsuccessful,
despite its best efforts, to acquire such real property at a reasonable price, Subdivider may request in writing
that City attempt to acquire such real property. City may, but is not required to, agree to attempt to acquire
such real property on behalf of Subdivider. If City so agrees, City and Subdivider shall enter a separate
written agreement in a form acceptable to the City Attorney. Said separate agreement shall provide that
Subdivider advance to City One Hundred Fifty Percent (150%) of the appraised fair market value of the real
property. Any unexpended portion of said advance shall be refunded to Subdivider. Any additional funds
required for acquisition of the real property shall be paid by Subdivider to City upon the conveyance of said
real property to Subdivider. In no event shall the failure of Subdivider or City to acquire such real property
excuse, waive, or otherwise terminate Subdivider's obligation to construct the applicable improvement
pursuant to this Agreement or the Conditions of Approval.
6. Completion of Improvements. Subdivider shall begin construction of the Improvements within ninety
(90) days and shall complete construction within twelve (12) months after the approval of this Agreement.
Portions of the Improvements may be completed at a later date, as determined by the City Engineer or as
set forth in Exhibit A.
7. Force Majeure. In the event that Subdivider is unable to perform within the time limits herein due
to strikes, act of God, or other events beyond Subdivider's control, the time limits for obligations affected
by such events will be extended by the period of such events.
8. Time Extension. Subdivider may make application in writing to the City Council for an extension of
time for completion of the Improvements. The City Council, in its sole and absolute discretion, may approve
or deny the request or conditionally approve the extension with additions or revisions to the terms and
conditions of this Agreement.
As a condition of the time extension, Subdivider shall furnish securities, similar in form and substance
to those required in SECTION 3 hereinabove, to cover the period of extension. The value of the securities
shall be sufficient to ensure the performance of and payment for Improvements that remain incomplete at
the time of the extension, and to provide warranty security on completed Improvements.
9. Survey Monuments. Before final approval of street improvements, Subdivider shall place survey
monuments in accordance with the provisions of Sections 66495, et sec. of the Subdivision Map Act and
of the La. Quinta Municipal Code. Subdivider shall provide the City Engineer written proof that the
monuments have been set, evidence of payment and receipt thereof by the engineer or surveyor setting the
monuments, and intersection monument tie -outs for monuments set in public streets.
Subdivision Improvement Agreement - Tract 23773-3 Page 4 of 7
10. Final Acceptance of Improvements. At the completion of construction and prior to acceptance
of the Improvements by City, Subdivider shall submit a request for final approval by City. The request shall
be accompanied by any required certifications from Subdivider's engineers or surveyors, approval letters
from other agencies having jurisdiction over and approval authority for improvements required by this
Agreement or the Conditions of Approval, and any required construction quality documentation not
previously submitted.
Upon receipt of said request, the City Engineer or a duly -authorized representative will review the
required documentation and will inspect the Improvements. If the Improvements are determined to be in
accordance with applicable City standards and specifications, and as provided herein, obligations required
by the Conditions of Approval and this Agreement have been satisfied, and Subdivider has provided revised
plans as required in Paragraph 11, hereinafter, the City Engineer shall recommend acceptance of the
Improvements by the City Council.
11. Revisions to Plans. When the Improvements have been inspected and approved by the City
Engineer, Subdivider shall make any necessary revisions to the original plans held by City so the plans depict
the actual Improvements constructed. When necessary revisions have been made, each separate sheet of
the plans shall be clearly marked with the words "As -Built," "As -Constructed," or "Record Drawing," the
marking shall be stamped by an engineer or surveyor, as appropriate for the improvements thereon, who
is licensed to practice in California, and the plans shall be resubmitted to the City Engineer.
12. Improvement Warranty. Subdivider hereby guarantees the Improvements to City for a period of
one (1) year, beginning on the date of final acceptance of the Improvements by the City Council, against
any defective work or labor done, or defective materials furnished, and shall repair or replace such defective
work or materials.
13. Release of Security. City shall retain and release securities in accordance with the provisions of
Section 3 of this agreement. Prior to the release -of payment security, the City Engineer may require
Subdivider to provide a title report or other evidence sufficient to show claims of lien, if any, that may affect
the amount of payment security released.
14. City Right to Cure. If Subdivider fails to perform any obligation hereunder and such obligation
has not been performed within sixty (60) days after written notice of default from City, then City may
perform the obligation, and Subdivider shall pay the entire cost of such performance by City including costs
of suit and reasonable attorney's fees incurred by City in enforcing such obligation. In cases of emergency
or compelling public interest, as determined by the City Engineer, the requirement for written notice of
default and/or the passage of sixty (60) days shall be deemed waived and all other provisions of this Article
shall remain in effect.
15. Indemnification. Subdivider hereby binds itself, its officers, employees, agents, representatives,
executors, administrators, guarantors, heirs, and assigns, and agrees to indemnify, defend and hold City and
its officers, employees, agents, representatives, and assigns harmless from and against any losses, claims,
demands, actions, or causes of action of any nature whatsoever, arising out of or in any way connected
with Subdivider's performance herein under, including costs of suit and reasonable attorneys' fees.
16. No Modification of Conditions. This Agreement shall in no respect act to modify or amend any
provision of the Conditions of Approval. In the event that any requirement or condition of this Agreement
is inconsistent with or fails to include one or more provisions of the Conditions of Approval, which
document(s) is (are) incorporated herein by reference, the provisions in the Conditions of Approval shall
remain in effect and shall control.
17. Severability. In the event that any provision or provisions of this Agreement are held
unenforceable, all provisions not so held shall remain in full force and effect.
Subdivision Improvement Agreement - Tract 23773-3 Page 5 of 7
A. All notices pursuant to this Agreement shall be in writing and shall be personally delivered or sent
by registered or certified mail, return receipt requested, to the parties at their respective addresses indicated
hereon. Notices personally delivered shall be effective upon delivery. Notices mailed as provided herein and
sent postage prepaid shall be effective upon the date of delivery or refusal indicated on the return receipt.
Either party may change its address for notices hereunder by notice to the other given in the manner
provided in this subparagraph.
B. The terms, conditions, covenants, and agreements set forth herein shall apply to and bind the
heirs, executors, administrators, assigns, and successors of the parties hereto.
C. Neither party to this Agreement relies upon any warranty or representation not contained in this
Agreement.
D. This Agreement shall be governed by and interpreted with respect to the laws of the State of
California.
E. In the event of any dispute between the parties with respect to this Agreement, the prevailing
party shall be entitled to prompt payment of its reasonable attorneys' fees from the non -prevailing party.
F. 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 of any default or of any such rights or remedies provided for hereunder.
(This space intentionally left blank.)
Subdivision Improvement Agreement - Tract 23773-3 Page 6 of 7
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
written above.
CITY OF LA QUINTA: ADDRESS: 78-495 Calle Tampico
La Quinta, CA 92253
Tom Genovese, City Manager
ATT
Clerk
SUBDIVIDER: Starlight Dunes L.L.C.
by Deane Starlight Dunes,
a California Corporation
By:
Title:
By:
Title:
ADDRESS: P.O. Box 5140
Newport Beach, CA 92662
01
Reviewed and Approved: //,- "/'�/ /- !/z f7
City Engineer Date
Approved as to Form:
City Attorney U Date
Subdivision Improvement Agreement - Tract 23773-3 Page 7 of 7
Exhibit A
LIST OF IMPROVEMENTS AND SECURITY AMOUNTS - TRACT 23773-3
Except as otherwise provided herein, Subdivider shall furnish performance security and payment security
prior to City Council approval of the Map.
As elements of the work are completed, Subdivider may request a maximum of two partial releases of
performance security. Partial releases shall be for not less than Ten Percent (10 %) of the total performance
security for the tract and shall not reduce total performance held below the amount necessary to complete
the Improvements plus Ten Percent (10 %) . Partial releases of performance security will be evaluated and
may be granted, in whole or in part, by the City Engineer. Requests for partial releases, setting forth in
detail the amount of work completed and the value thereof, shall be made in writing to the City Engineer.
Improvement Description Performance Payment
Grading $18,375 $18,375
Streets & Storm Drainage 65,604 65,604
Interim Erosion Control 2,000 2,000
Domestic Water 38,420 38,420
Sanitary Sewer 18,525 18,525
Monumentation 2.000 _ 0
Totals: $144,924 $144,924
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
State of
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County of
before me, ,
Date ame and Title of Officer (e.g., "Jane Doe, Notary Public")
personally app ared
Name(s) of Signer(s)
❑ personally known to me — OR -roved to me on the basis of satisfactory evidence to be the person(s)
whose name(s) is/are subscribed to the within instrument
and acknowledged to me that he/she/they executed the
same in his/her/their authorized capacity(ies), and that by
KAYLIOUNE his/her/their signature(s) on the instrument the person(s),
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WITNESS m hand and official seal.
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Signature of Notary Public
OPTIONAL
Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent
fraudulent removal and reattachment of this form to another document.
Description of Attached Document
Title or Type of Documen
Document Date: /— Id Number of Pages: 7
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer(s)
Signer's Name:
1
Individual
Corporate Officer
Title(s):
Partner — ❑ Limited ❑ General
Attorney -in -Fact
Trustee
Guardian or Conservator
Other:
Signer Is Representing:
RIGHT THUMBPRINT
OF SIGNER
of thu b here
Signer's Name:
9
■
■
■
■
Individual
Corporate Officer
Title(s):
Partner — ❑ Limited ❑ General
Attorney -in -Fact
Trustee
Guardian or Conservator
Other:
Signer Is Representing:
RIGHT THUMBPRINT
OF SIGNER
•• • •
0 1994 National Notary Association - 8236 Remmet Ave., P.O. Box 7184 - Canoga Park, CA 91309-7184 Prod. No. 5907 Reorder: Call Toll -Free 1-800-876-6827
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Anierican Motorists Insurance Company =L_____JLOOM
FIRST TERM PREMIUM FULLY EARNED
Bond Number : 3SM 890 908 00
Premium (Two Years) : $2,501.00
SUBDIVISION BOND
FAITHFUL PERFORMANCE -PUBLIC WORK
KNOW ALL MEN BY THESE PRESENTS: That, Starlight Dunces, LLC as Principal, and the
AMERICAN MOTORISTS INSURANCE COMPANY, a corporation organized and existing under the laws of the State
of Illinois and authorized to transact surety business in the State of California as Surety, are held and firmly bound unto
City Of La Quinta, as Obligee, in the sum of One hundred forty two thousand, nine hundred twenty four and
no/100 DOLLARS ($142,924.00), for which the payment whereof, well and truly to be made, said Principal and. Surety
bind themselves, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents.
Whereas the above bounden Principal has entered into a contract/agreement, dated 1/97, with the Obligee to do and
perform the following work; to wit:
Improvements, Tract 23773-3 Grading $18,375 Drainage $65,604 :Erosion $2,000. Water
$38,420, Sewer $18,525
The condition of the this obligation is such that if the above bounden principal, his or its heirs, executors,
administrators, successors or assigns, shall in all thins stand to and abide by, and well and truly keep and perform the
covenants, conditions and provisions in the said agreenient and any alteration thereof made as therein provided; on his or
their part, to be kept and performed at the time and in the manner therein specified, and iriall respects according to their
true intent and meaning, and shall indemnify and save harmless CITY OF LA QUINTA,.its officers, agents, and
employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full
force and effect.
As a part of the obligation secured hereby and in addition to the face annount specified therefor, there shall 'be
included costs and reasonable expenses and tees, including reasonableattorney's fees, incurred by county (or city) in
successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered.
The surety hereby stipulates and agrees that no change, extension of tinne, alteration or addition to the terms ofthe
agreement or to the work to be performed thereunder or the specifications acconnpanying the same shall inanywise affect. its
obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition of the
terms of the agreement or to the work or to the specifications.
SIGNED, SEALED, DATED: January 9 1997
Starlight Dunes, LLC
(Prinncipal)
B-� --
DIRECT CORRESPONDENCE TO:
In LOU JONES & ASSOCIATES, PO BOX 41375, 7470 N. FIGUEROA ST., LOS ANGELES, CA 90041
PHONE (213) 257-8291 • FAX (213) 256-7218
Subdivision Performance liumi - 07-31-9t)-dot
ican Motorists Insurance Company
namna
- �wtance
caievaroPs
Bond Number : 3SM 890 908 00
SUBDIVISION BOND
LABOR & MATERIAL/PAYMENT
KNOW ALL MEN BY THESE PRESENTS: That we, Starlight Dunes, LLC as Principal, and AMERICAN MOTORISTS
INSURANCE COMPANY, as Surety, are held and firmly bound unto City Of La Quinta as Obligee, in the sum of One
hundred forty two thousand, nine hundred twenty four and no/100 DOLLARS ($142,924.00) lawful money of the United
States of America, for die payment of which stun well and truly to be trade, We bind ourselves jointly and severally, firmly by
these presents.
THE CONDITION OF THIS OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement
with the Obligee, dated t/97 , in which said Principal agrees to construct designated public improvements, asfollows:
Improvements, Tract 23773-3 Grading $18,375 Drainage $65,604 Erosion $2,000, Water
$38,420, Sewer $18,525
and, as a condition of approving said Subdivision, the Principal is required to give Labor and Material Payment Bond as: herein
provided.
NOW, THEREFORE, said principal and the rutdersigned s corporate surety, are held firmly bound unto the Obligee, and�all
contractors, subcontractors, laborers, materiahnen and. other persons eniployed in the performance of the aforesaid agreement and
referred to in the aforesaid Code of Civil Procedure iu the sum of One hundred forty two thousand, nine hundred wlnty four
and no/100 dollars ($142,924.00), for materials furnished or labor thereon of any kind, or for amounts due:under the
Unemployment Insurance Act with respect to such work or labor, that said surety will pay the same in an amount not exceeding the
amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the faceamount thereof, costs
and reasonable expenses and fees, including reasonable attorney's fees, incurred by city in successfully enforcing such obligation to
be awarded and fixed by the court, and to be taxed as costs.
IT is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies and
corporations entitled to file claims under Title 15 (commencing with Section 3052) or Part 4 of Division 3 of the Civic Code, so as
to give a right of action to them or their assigns in any suit brought upon this bond.
SHOULD the condition of this: bond be fully performed, then this obligation shall become null and void, otherwise it shall be and
remain in full force and effect.
THE Surety hereby stipulates and agrees that no change, extension or time, alteration or addition to -the terms of said agreement or
the specifications accompanying the saute shall in any tnamier affect its obligations on this bond, and it doeshereby waive notice
of any such change, extension,, alteration or addition.
SIGNED, SEALED, DATED January 9, 1997
StarlightDunes, LLC
(Principal)
By:
6encan Motorists Insurance Company
(Surety)
By:__
ekudb. Conrad, Attorney In Fact
DIRECT CORRESPONDENCE TO:
In LOU JONES & ASSOCIATES, PO BOX 41375, 7470 N. FIGUEROA ST., LOS ANGELES, CA 90041
PHONE (213) 257-8291 . FAX (213) 256-7218
Subdivision Payment Bond - 07-31-96.dot
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narnna
.American Motorists Insurance Company
------
FIRST TERM PREMIUM FULLY EARNED
Bond Number : 3SM 890 95100
Premium (Two Years) : $ 100.00
SUBDIVISION BOND
FAITHFUL PERFORMANCE -PUBLIC WORK
KNOW ALL MEN BY THESE PRESENTS: That, Starlight Dunes, LLC, as Principal, and the
AMERICAN MOTORISTS INSURANCE COMPANY, a corporation organized and existing under the laws of the State
of Illinois and authorized to transact surety business in the State of California as Surety, are held and firmly bound unto
City Of La Quinta, as Obligee, ill the sum of Two thousand and no/100 DOLLARS ($2,000.00) for which the
payment whereof, well and truly to he made, said Principal and Surety bind themselves, their heirs, administrators,
successors, and assigns, jointly and severally, firmly by these presents.
Whereas the above bounden Principal has entefed into a contract/aLlreenient, dated 1/97, with the Obligee to do and
perform the following, work; to wit:
Improvements, Tract 23773-3 Monumentation
The condition of the this obligation is such that if the above bounden principal, his or its heirs, executors:,
administrators, successors or assigns. shall in all things stand to and abide by, and well and truly keep and perform the
covenants, conditions and provisions in the said agreement and any alteration thereof made as therein provided, on his or
their part, to be kept and performed at the time and in the manner therein specified, and in;all respects accordingto their
true intent and meaning, and shall indemnify and save harniless CITY OF LA QUINTA, its officers, agents, and
employees, as therein stipulated, then this obli«ation shall become null and void; otherwise it shall be and remain in full
force and effect.
As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be
included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by county (or city) in
successfully enforcing such obligation, all to be taxed as costs andincluded in any judgment rendered.
The surety hereby stipulate,, and agrees that no change, extension of time, alteration or addition to the terms of the
agreement or to the workto be performed thereunder or the specifications accompanying the sanne shall in anywise affect its
obligationsoilthis bond, and it:does hereby waive notice of any such cliange, extension of time, alteration or addition of the
terms of the a,,reennent or'to the work or to the specifications.
SIGNED, SEALED; DATED: January 9, 1997
American Motorists Insurance Company
(Surety)
By:
K n onrad, Attorney In Fact
DIRECT CORRESPONDENCE TO:
In LOU JONES & ASSOCIATES, PO BOX 41375, 7470 N. FIGUEROA ST., LOS ANGELES, CA 90041
PHONE (213) 257-8291 . FAX (213) 256-7218
Subdivision Perfurmancc Bond - 07-31-96.dot
OUTSTANDING BOND REPORT
Name: Starlight Dunes/Century Crowell Communities
Tract No. 23773-3
Date of Contract: January 21, 1997
Required Bond Amounts:
$ 2,000
$ 65,604
$ 65,604
$ 18,375
$ 18,375
$ 38,420
$ 38,420
$ 18,525
$ 18,525
$ 2,000
Dates of Bond Reductions:
Outstanding Bonds:
Amount:
$142,924
$142,924
$ 2,000
$ 2,000
Monumentation
Streets and Drainage
Payment/Streets
Grading
Payment/Grading
Water
Payment/Water
Sewer
Payment/Sewer
Erosion Control
Bond No.
3SM 890 908 00
same # for payment
3SM 890 951 00
same # for payment
Date Cancelled/Released: