23935-1 Desert View Homes 90CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
THIS
of June
DESERT VIES"
AGREEMENT, made and entered
19 90 by and between _
] HOMES
into this 18th day
hereinafter referred to as "SUBDIVIDER", AND CITY OF LA QUINTA, a
municipal corporation of the State of California, hereinafter
referred to as "CITY".
WITNESSETH:
WHEREAS, the Subdivider has prepared and filed a final
subdivision map of Tract No. 23935-1 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 $1,259,400.00
Dollars; and.
WHEREAS, Subdivider, by said map, has proposed to utilize
certain parcels of land for private streets, and also to construct
and install or agree to construct and install certain improvements;
and
WHEREAS, even though said private streets shall not be
dedicated to City for public use, City desires to insure that said
streets are constructed to the same standards and specifications
required by City for public streets; and
WHEREAS, the total cost of such improvements has been
estimated by the City Engineer to be approximately -0- Dollars;
NOW, THEREFORE, IT IS AGREED by and between the parties
thereto as follows:
1. Subdivider, at his 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.23935-1"; 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.
SUBDIVISION IMPROVEMENT AGREEMENT - Tract 23935-1
Page 2
2. Subdivider shall furnish to City securities
satisfactory in form and substance to City Attorney executed by a
corporation authorized to transact surety business in the State of
California, one class security to be in the aggregate sum of
$1,501,400.00 dollars to assure the faithful performance of this
Agreement, said security class hereinafter referred to as
"Performance Bond(s)", and one security to be in the aggregate sum
of $688,900.00dollars to assure the payment of the cost of labor
and materials supplied to construct the required improvements, said
security class hereinafter referred to as "Payment Bond(s)".
All securities furnished pursuant to this Agreement shall be
furnished in amounts commensurate with the estimated value of the
various improvement items set forth in Exhibit 'A' which is attached
hereto and made apart hereof. Subdivider shall furnish a minimum of
four (4 ) separate Performance Bonds and a minimum of two
(2)separate Payment Bonds as identified by the respective Bond
Groups shown in Exhibit W.
3. Portions of the improvements required herein for Tract
No. 23935-1 are offsite improvements and may be subject to separate
reimbursement agreement(s) resulting in partial reimbursement of
costs to the extent legally possible to the Subdivider as more
particularly setforth on the attached Exhibit 'A' all subject to the
approval of the City. Reimbursement Agreements shall be subject to
the legal requirements of the Municipal Code together with Labor Code
Sec. 1770 et. seq.; and offsite reimbursement not applicable, and
4. Portions of the improvements required herein for Tract
No. 23935-1 may be deferred to later date subject to the approval
of the City as hereinafter set forth on the attached Exhibit W. In
any event any deferred security shall be furnished to City prior to
the approval and recordation of Map for Tract No. 23935-1.
5. Subdivider shall commence the construction and
installation of said improvements within ninety (90) days from the
approval of such "Improvement Plans" for Tract No. 23935-1 by the
City Engineer, and shall complete the construction of said
improvements within eighteen (18) months from the date of
commencement. Subdivider may at its sole discretion extend the
completion period described herein past the eighteen (18) months time
period to any future date that Subdivider may select. It is
understood, however, that a condition precedent to extending the
completion period, Subdivider shall furnish to City securities
similar in form and substance to those required by Article 2 herein
to cover the extended completion period selected by Subdivider. The
value of said securities shall be sufficient to insure the
performance of improvement work that remains incomplete at the time
of said time extension. The security posting amount shall be
determined by the City Engineer.
6. 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.
After the monuments are set, Subdivider shall furnish to the City
Engineer written notice that the monuments have been set, and written
proof that the engineer or surveyor has been paid for setting the
monuments, or as otherwise provided in the Subdivision Map Act.
7. The City Engineer or his duly authorized
representative, upon written request of Subdivider, shall inspect the
improvements herein agreed to be constructed and installed by
Subdivider, and if determined to be in accordance with the applicable
city standards, shall recommend the acceptance of such improvements
by the City.
SUBDIVISION IMPROVEMENT AGREEMENT - Tract 23935-1
Page 3
g. The City Engineer, or his duly authorized
representative, upon written request of Subdivider, shall inspect the
Streets herein agreed to be constructed by Subdivider, and determine
if said Streets have been constructed in compliance with the
standards and specifications required by City for public streets.
9. Subdivider shall complete such improvements plans
including any corrections and revisions thereto necessary to comply
with the applicable City standards as determined by the City
Engineer, within thirty (30) days after approval of the final map.
10. Subdivider hereby guarantees such improvements for a
period of one year following the completion by Subdivider, and
acceptance by City, 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.
11. The labor and material security required by Article 2
herein shall be retained to secure payment to the contractor, his
subcontractors and to persons renting equipment or furnishing labor
and materials for six (6) months after completion and approval of the
work required by Article 1 herein.
12. Ten percent (10%) of the performance security required
by Article 2 herein shall be retained by the City for one (1) year to
support the guarantee of the improvements required herein.
13. In the event that the Subdivider fails to perform any
obligation hereunder within sixty (60) days after the City has mailed
written Notice of Default to the Subdivider at the address given
below, the Subdivider authorizes City to perform such obligation and
agrees to pay the entire cost of such performance by City.
14. 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.
15. Subdivider hereby binds itself, its executors,
administrators and assigns, and agrees to indemnify, defend and hold
the City harmless of 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 hereinunder in the
construction of the improvements agreed to be constructed and
installed hereunder by the Subdivider, including costs of suit and
reasonable attorney's fees.
*********************************************************************
SUBDIVISION IMPROVEMENT AGREEMENT - Tract 23935-1
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
�Z/
A
By: Ronald L. Kiedrowski
City Manager
ATTEST:
City Clerk
SUBDIVIDER:
By:
By:
Subscribed and Sworn to before me this
1917y .
y�Pt op r OFFICIAL SEAL
Seal of Notar I'-- W NAGLER
NO1ARY PUBLIC - CALIFORNIA
My connnz. expires i P, 6, 1993
REVIEWED AND APPROVED
City Engineer
Add r e s s: MOW 41V j6uZeW 024440 # V a
C-4• P-S'VF
day of , v.� -c-
Date
SUBDIVISION IMPROVEMENT AGREEMENT - Tract 23935-1
Page 5
EXHIBIT 'A'
The following improvements are designated by Bond Groups to permit
the phasing of the required improvements together with the required
securities:
Bond Groups No. 1, No. 2, and No. 3; the Subdivider
shall provide Performance Bonds and Payment Bonds prior to
the approval and recordation of Map for Tract No. 23935-1.
Improvements are to be accomplished solely at the expense
of the Subdivider and to be completed within eighteen (18)
months as herein provided in this Agreement.
Bond Group No. 4;the Subdivider shall provide Performance
Bonds prior to the approval and recordation of Map for
Tract No. 23935-1.
Improvements are deferred for future construction by the
City and/or by means of a cooperative agreement with others
which is subject to the approval of the City. Construction
shall be on an as needed basis as determined by the City.
Traffic Signals:
The Subdivider shall bear twenty-five (25%) percent
of the cost of traffic signals at the
intersection of Miles Avenue and Dune Palms
Road including incidentals.
Upon written demand of the City the Subdivider shall
deposit his share of the estimated cost of traffic
signal improvements with the City.
Median Island(s):
The Subdivider shall bear fifty (50%) percent of the
cost of constructing median traffic island(s) along
the Subdivision frontage of Miles Avenue complete with
curbs/gutters, landscaping and irrigation system (s).
Upon written demand of the City the Subdivider shall
deposit his share of the estimated cost of the median
island improvements with the City.
SUBDIVISION IMPROVEMENT AGREEMENT-23935-1
Page 6
BOND
GROUP
IMPROVEMENT DESCRIPTION
PERFORMANCE
BOND
PAYMENT
BOND
* 1
Subdivision Grading
$ 100,000
50,000
**
Off -site street and Drainage
534, 200
-�"
267,100
v'
Improvements
On -site streets and Drainage
275,400
-
137,700`'�
Improvements
Perimeter lots and drainage
basin landscaping
226,200
113,100%'
2
Sanitary sewer facilities
186,000
-
93,000
V,
Domestic water facilities
56,000
28,000
3
Survey monuments
6,000
-0-
4
Traffic Signals at Dune Palms
and Miles Avenue
25,000—
-0-
Median along Miles Avenue
and Dune Palm
(1/2 width improved with
landscaping & irrigation)
92,600.-
-0-
Each improvement item listed hereon may be bonded individually, or
bonded collectively with other improvements with a single bond,
provided however, that improvements which are grouped together and
bonded with a single bond are correspondingly identified in the 'Bond
Group' column as being of the same group.
Labor & Materials
Performance Payment
Bond Bond
Bond
Group 1
- Totals =
$ 1,1351800 $ 567,900
Bond
Group 2
- Totals =
242,000 121,000
Bond
Group 3
- Totals =
61000 -0-
Bond
Group 4
- Totals =
117,600 -0-
GRAND TOTALS = $ 1,501,400 $ 688,900
* Grading Bond for Phases 1 & 2
** Includes $10,000.00 cost of underground electric installation
g r*3�V_Z)11*: *"�rw-, �; 9 m,.� w �,��
K11
The Insco/Dico Group DCO
Bond No.
204451S
Premium $ 220.00
MKYA ALL NM BY THESE PRESENTS, That we, DESERT VIEW HOMES, LIMITED, as
Principal, and DEVELOPERS INSURANCE COMPANY , a corporation organized and
doing business under and by virtue of the laws of the State of California
and duly licensed to conduct a general surety business. -in the state of
California as Surety, are held and firmly bound unto THE CITY OF LaQUINTA,
as Obligee, in the sum of TEN THOUSAND DOLLARS, ($101000.00 for the
initial year plus an additional five 5/ percent increase over the prior
year for each year in force, after the initial year, 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 Declaration of Dedication with said obligee,
dated August.2, 1990, in which said Principal agrees to provide and maintain
landscaping and perform other obligations as may be therein required, and,
as a condition of approving said Subdivision, the Principal is required to
give a bond to gLaarantee combined with said Declaration of Dedication.
NOW, THEREFORE, if said Principal shall well and truly do and perform all
the covenants and obligaltions of said agreement on its part to be done and
performed iat _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 except as provided hereinbelow 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.
This bond shall be in full force and effect for the initial period of one
(1) year and shall renew annually, on the anniversary of its effective date,
for a period of ten (10) successive years or until such time as the offered
dedication is accepted by the obligee as herein set forth, provided, however,
that Principal shall continue, without interruption, to pay any and all
premiums as they become due for each and every successive one (1) year renewal,
and provided further, that each and every successive renewal shall be upon the
approval and didce+-.ti:ontoflithe Surety, which 'approval shall not be unreasonably
withheld.
Signed and sealed this
21st
day of
AUGUST
19 90
DESEd VIEW HOMES L ITED DEVELOPERS INSURANCE COMPANY
Principal " Surely
By. _
David L. -Millet Attorney-irrfact
333 Wilshire Ave.
Anaheim. California 92801
(714) 999-1471 (213) 402-7877
I()024 1 /66
BOND NO.
204351S
PREMIUM: $ 2, 500.00
FAITHFUL PERFORMANCE BOND
(Subdivision)
KNOW ALL MEN BY THESE PRESENTS, That We,
DESERT VlEly HG,NfES LTD, a California Limil-ed Partnership
as Principal, and DEVELOPERS INSURANCE CCNIPANY
Surety, are held and firmly bound unto CITY OF LA QUINTA
as Obligee, in the sum of NINETY TWO THOUSAND SIX HUNDRED AND NO 100
Dollars ($ 92, 600.00 ), 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
Subdivnsion Agreement with said Obligee, dated , in which said Principal agrees to construct
designated public improvements, as follows:
MEDIAN ALONG MILES AVE & DUNE PALMS —TRACT 23935-1
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 agree to pay reasonable
attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond.
Signed and sealed on July 20, 1990
r,ESERT VIEW KMES I.TD, a California
Limited PartnErship
Vent er Principal '
By:
Igo
ma;K
-
BOND NO. /04343S
PREMIUM: 2, 700.00
FAITHFUL PERFORMANCE BOND
(Subdivision)
KNOW ALL MEN BY THESE_ PRESENTS, That We,
DESERT VIEW HOMES LTD, a California Limit-ed Partnersliip
as Principal, and DEVELOPERS INSURANCE CCMPANY
Surety, are held and firmly bound unto CITY OF LA QUA INTA
as Obligee, in the sum of CIE HUNDRED THOUSAND AND NO/100
Dollars ($ 100, 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 , in which said Principal agrees to construct
designated public improvements, as follows:
GRADING IMPROVEMENTS —TRACT 23935-1 � Z.
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 agree to pay reasonable
attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond.
Signed and sealed on July 20, 1990
DESERT VIEW KMES LTD, a California
Limited PartnErship
Ventur r Principal
By:
BOND NO. 204343S
PREMIUM: Included in Performance Bond
LABOR AND MATERIAL PAYMENT BOND
'SubdiNisioni
KNOW ALL MEN BY THESE PRESENTS, That We,
DESERT VIEW HOME; LID, --a California Limited Partnership
as Principal, and DEVELOPERS INSURANCE CO MANY
Surety, are held and firmly bound unto
CTTY nF 1.A OUINTA
as Obligee, in the sum of FIFTY THOUSAND AND NO 100
Dollars ($ 50, 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 OBLIGATIONS SUCH, That, Whereas, said Principal had entered into a
Subdivision Agreement with said Obligee, dated , in which said Principal agrees to construct
designated public improvements, as follows:
GRADING IMFROVIINENTS -TRACT 23935-1 may' 47,
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 benefits of the contractor, his subcontractors, and to persons renting equipment or furnishing
labor or materials to them for the improvements.
Signed and sealed on July 20, 1990
DESERT VIEW HOMES LTD, a California
Limited Partnership
Ven rer Principal
A I - , 45 0 C
e�e,49;r_0��4 /1(/ �eZ4404 .
LIM
Sure . D OF RS INSURANCE COMPANY
By.
y•, rney-in- ac
BOND NO. � 04344S
PREMIUM:$14, 423.00
FAITHFUL PERFORMANCE BOND
Subdivision
51
W ALL MEN BY THESE PRESENTS, That We,
DESERT V1Ely HGNES LTD, a California Limit.e artners hip
TY
as Principal, and DEVELOPERS INSURANCE CCMPAJ\
Surety, are held and firmly bound unto CITE-
as Obligee, in the sum of FIVE HUNDRED THIRTY FOUR THOUSAND TWO HIKE11,D AND N0.11 nn
Dollars ($ , 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:
OFF -SITE STREET AND DRAINAGE IMPROVEMENTS TRACT 23935-1
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 agree to pay reasonable
attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond.
Signed and sealed on July 20, 1990
DESERT VIEW KMES I.TD, a California
Limited Partnership
Ventu Principal
By:
Surety: D .Y
By:
M. SOM, , At rney-in-Fact
BOND NO. 204344S
PREMIUM: Included in Performance Bond
LABOR AND MATERIAL PAYMENT BOND
(Subdivision)
KNOWN ALL MEN BY THESE PRESENTS, That We,
DESERT VIEW HOME. LID,a California Limited Partnership
as Principal, and DEVELOPERS INSURANCE COMPANY
Surety, are held and firmly bound unto CITY OF LA QUINTA
as Obligee, in the sum of TWO HUNDRED SIXTY SEVEN THOUSAND ME HI INERFn NG/1 nn
Dollars ($ 267,100.00 ), 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 OBLIGATIONS SUCH, That, Whereas, said Principal had entered into a
Subdivision Agreement with said Obligee, dated , in which said Principal agrees to construct
designated public improvements, as follows:
OFF -SITE STREET AND DRAINAGE IMPROVEMENTS TRACT 23935-1
and, as a condition of approving said Subdivision, the Principal is required to give a Labor and Material Payment Bond as
herein proNided.
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 benefits of the contractor, his subcontractors, and to persons renting equipment or furnishing
labor or materials to them for the improvements.
Signed and sealed on � July 20, 1990
DESERT VIEW HOMES LTD, a California
Limited Partnership
Ventu Principal
By:
M.
Surety: DEVFJ1OFERS INSURANCE COMPANY
By:
m:60sicy, rney-in ac
BOND NO. 204345S
PREMIUM: $7 , 436.00
FAITHFUL PERFORMANCE BOND
(Subdivision)
KNOW ALL MEN BY THESE PRESENTS, That We,
DESERT V1Ely H01% ES LTD, a California Limited Partnership
as Principal, and DEVELOPERS INSURANCE CCAIPANY
Surety, are held and firmly bound unto CITE- OF LA QUINTA
as Obligee, in the sum of TWO HUNDRED SEVENTY FIVE THOUSAND FOUR HUNDRED AND NO/100
Dollars ($275:400.00 ), lawful money of the United States, for the payment of which sum well and truly to
be made, we bind ourselves jointly and severally, firmly by these presents.
THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a
Subdivision Agreement with said Obligee, dated , in which said Principal agrees to construct
designated public improvements, as follows:
ON —SITE STREET AND DRAINAGE IMPROVEMENTS—TRACT239135-1
and, as a condition of approving said Subdivision, the Principal is required to give a bond to guarantee completion of said
improvements.
NOW, THEREFORE, if said Principal shall well and truly do and perform all the covenants and obligations of said
agreement on its part to be done and performed at the time and in the manner specified therein, then this obligation shall
be null and void, otherwise, it shall be and remain in full force and effect and, in addition, Surety agree to pay reasonable
attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond.
Signed and sealed on July 20, 1990
DESERT VIEW hCMES I.TD, a California
Limited Partnership
Ventu r Principal
xw/
a�
Surety: D l f
By:
M. OSKY, Attor y-in-Fact
BOND NO. 204345S
PREMIUM: Included in Performance Bond
LABOR AND MATERIAL PAYMENT BOND
(Subdivision)
KNOW ALL MEN BY THESE PRESENTS, That We,
DESERT VIEW HQ�jE,; LID a California Limited Partnershi
as Principal, and DEVELOPERS INSURANCE CONTANY
Surety, are held and firmly bound unto CITY OF LA QUINIA
as Obligee, in the sum of ONE HUNDRED THIRTY SEVEN THOUSAND SEVEN H lNT)RED AND - D No/ 7 nn
Dollars ($ 137, 700.00 }, 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 OBLIGATIONS SUCH, That, NN"hereas, said Principal had entered into a
Subdivision Agreement with said Obligee, dated , in which said Principal agrees to construct
designated public improvements, as follows:
ON -SITE STREET AND DRAINAGE IMPROVEXENTS -TRACT 23935-1
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 benefits of the contractor, his subcontractors, and to persons renting equipment or furnishing
labor or materials to them for the improvements.
Signed and sealed on July 20, 1990
DESERT VIEW HOMES LTD, a California
Limited Partnership
Ventu r Principal
Sure . D ' OPERS INSURANCE COMPANY
By:
. os y, or ey-in ac
BOND NO. 204346S
PREMIUM: $6,107.00
FAITHFUL PERFORMANCE BOND
(Subdivision)
KNOW ALL MEN BY THESE PRESENTS That We
DESERT V1E1v HG1I-S LTD, a California Limil.ed Partriership
as rrincipai, ana 1Jt✓VLLUFhRS INSURANCE CCMPANY
Surety, are held and firmly bound unto CITY OF LA QUINTA
as Obligee, in the sum of TWO HUNDRED TWENTY SIX THOUSAND TWO HUNDRED AND N0/100
Dollars ($ 2269 200.00 ), 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:
PERIMETER LOTS AND DRAINAGE BASIN LANDSCAPE IMPROVEMENTS —TRACT 23935-1
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
i
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 agree to pay reasonable
attorneys' fees in the event that it becomes necessary to bring an action to enforce this bond.
1
Signed and sealed on July 20, 1990
r,ESERT VIEW hCMES I.TD, a California
Limited Partnership
VentYU6 Principal
By:
NOW.W.�
BOND NO. 204346S
PREMIUM: Included in Performance Bond
LABOR AND MATERIAL PAYMENT BOND
(SubdiNision)
KNOW ALL MEN BY THESE PRESENTS, That We,
DESERT VIEW HOMES LID, a California Limited Partnership
as Principal, and DEVELOPERS INSURANCE CONTANY
Surety, are held and firmly bound unto CITY OF LA QUINTA
as Obligee, in the sum of ONE HUNDREDTHIRTEEN THOUSA ONE HUNDRED AND N01100
Dollars ($-113 , 100.00 ), 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 OBLIGATIONS SUCH, That, NVhereas, said Principal had entered into a
Subdivision Agreement with said Obligee, dated , in which said Principal agrees to construct
designated public improvements, as follows:
PERIMETER LOTS AND DRAINAGE BASIN LAI\TGCAPE IMPROVEMENTS —TRACT 23935-1
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 benefits of the contractor, his subcontractors, and to persons renting equipment or furnishing
labor or materials to them for the improvements.
Signed and sealed on . July 20, 1990
DESERT VIEW HOMES LTD, a California
Limited Partnership
Ventur P incipal
By:
By:
Sure . DEVE40PER5 INSURANCE COMPANY
By: A.
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