23995-3 Inco Homes 98CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
TRACT 23995-3
THIS SUBDIVISION IMPROVEMENT AGREEMENT the "Agreement") is made and entered into this
2 3 rd day of Ju Y 19 98
by and between Inco Homes Corporation, A Delaware Corporation hereinafter referred to as "Subdivider," and the
City of La Quinta, a municipal corporation of the State of California, hereinafter referred to as "City."
RECITALS:
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. 23995-3 (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.
3. Improvement Security.
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. However, the City may utilize Monumentation Security for
performance of or payment for the work in accordance with the Subdivision Map Act.
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.
B. Improvement security shall conform with Section 66499 of the California Government Code and one
or more of the following:
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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 cant' 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 than 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.
D. At the 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, bonds and letters of credit as described in Paragraphs 2), 3) and 4)
of SECTION 3.B., which require the establishment of evidence of the reliability of the surety or financial institution,
the administrative fee shall be One Hundred Fifty Dollars ($150.00).
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2) For liens on real property as described in Paragraph 5) of SECTION 3.B., 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 not expire, be reduced or become wholly or partially invalid for any reason, including
non-payment of premiums, modifications of this Agreement and/or expiration of the time for performance stated
in this Agreement, without express authorization from City unless the surety provides City with sixty (60) days
written notice by registered or certified mail, return notice requested.
G. 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 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 all Tract Improvements. However, 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
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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 Maieure. 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.
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
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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.
18. General Provisions
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.
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written
above.
CITY:
Thomas P. Genovese, City Manager
/0
Clerk
SUBDIVIDER:
By:
y a
Title: Vice Pre--Ze)nt of opprations
By:
Title
Reviewed and Approved: dol�
City Engineer
Approved as to Form:
City Attorney
Date
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
Inco Homes Corporation
1282 W. Arrow Highway
Upland, CA 91786
(909)608-2102
July 23. 1998
Date
Date
tffGlga
Date
sh(�
Date
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Exhibit A
SECURITY - TRACT 23995-3
Except as otherwise provided herein, Subdivider shall furnish performance security and labor & materials security
prior to agendization of the Map for approval by the City Council.
Improvements designated as "Participatory" have been or will be constructed by others. Security for Participatory
Improvements shall remain in place indefinitely until called upon or released by City.
Monumentation security shall guarantee performance of or payment for the work and shall be utilized or released
as specified in Chapter 4, Article 9 of the Subdivision Map Act.
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 security 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.
Labor & materials security for Water, Sewer and Electrical improvements is subject to release if authorized by the
appropriate utility authority. Otherwise, all labor & materials security shall remain in place until 90 days after all
required tract improvements are complete and accepted by the City Council.
Improvement Description
Streets & Storm Drainage
Domestic Water
Sanitary Sewer
Electrical
Monumentation
Performance
Labor & Materials
164,805 1, 164,805
69,924 69,924
41,395 41,395
39,428 •1 39,428
5.000 0
Totals: $320,552 $315,552
Subdivision Bond Bond No. SD00031530
raithfut Performance - Public Work Premium $3,296.00/2 years
SUBDIVISION BOND
KNOW ALL MEN BY THESE PRESENTS: That INCO HOMES CORPORATION, A DELAWARE
CORPORATION as Principal, and Frontier Pacific Insurance Company, a corporation organized and
existing under the laws of the State of California and authorized to transact surety business in the
State of California, as Surety are held and firmly bound unto City of La Quinta in the sum of One
Hundred Sixty Four Thousand Eight Hundred Five and No/100ths Dollars ($164,805), for 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.
The condition of the foregoing obligation is such that, whereas the above -bounden Principal
has entered into an agreement, dated']J,�a, 19IL_, with the City of La Quinta to do and perform
the following work, to wit:
Tract #23995-3 Streets & Storm Drain
NOW, THEREFORE, if the above -bounden Principal shall well and truly perform the work contracted
to be performed under said agreement, then this obligation shall be void; otherwise to remain in full
force and effect.
SIGNED, SEALED, DATED: July 23, 1998
Inco Homes Corporation
A Delaware Corporation
(Principal)
By: 11 _�:r
Ir... ............ - ............... 4
Frontier Pac41nsurancmpany
(Surety)
By:V+y On
Victoria M. Campbell, Attorney -in Fact
end California Bond No. SD00031530
rial - Public Work Premium included in Performance Bond
SUBDIVISION BOND
KNOW ALL MEN BY THESE PRESENTS: That INCO HOMES CORPORATION, A DELAWARE
CORPORATION as Principal, and Frontier Pacific Insurance Company, a corporation organized and
existing under the laws of the State of California and authorized to transact surety business in the
State of California, as Surety are held and firmly bound unto City of La Quinta in the sum of One
Hundred Sixty Four Thousand Eight Hundred Five and No/100ths Dollars ($164,805), for 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.
The condition of the foregoing ob igation is such that, whereas the above -bounden Principal
has entered into an agreement, dated I_�) , 19 J9 _, with the City of La Quinta to do and perform
the following work, to wit:
Tract #23995-3 Streets & Storm Drain
NOW, THEREFORE, if the above -bounden Principal shall pay all contractors, subcontractors,
laborers, materialmen and other persons employed in the performance of the aforesaid agreement,
then this obligation shall be void; otherwise to remain in full force and effect.
SIGNED, SEALED, DATED: July 23, 1998.
Inco Homes Corporation
A Delaware Corporation
(Principal)
By:
Frontier Pacific Insur Company
(Surety)
By: )API-f) yn
Victoria M. Campbell, Attorney-in-FEct
Subdivision Bond Bond No. SD00031531
Faithful Performance - Public Work Premium $1,398.00/2 years
SUBDIVISION BOND
KNOW ALL MEN BY THESE PRESENTS: That INCO HOMES CORPORATION, A DELAWARE
CORPORATION as Principal, and Frontier Pacific Insurance Company, a corporation organized and
existing under the laws of the State of California and authorized to transact surety business in the
State of California, as Surety are held and firmly bound unto City of La Quinta in the sum of Sixty
Nine Thousand Nine Hundred Twenty Four and No/100ths Dollars ($69,924), for 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.
The condition of the foregoing obligation is such that, whereas the above -bounden Principal
has entered into an agreement, dated 7 a-3, 19_ l �'_, with the City of La Quinta to do and perform
the following work, to wit:
Tract #23995-3 Domestic Water
NOW, THEREFORE, if the above -bounden Principal shall well and truly perform the work contracted
to be performed under said agreement, then this obligation shall be void; otherwise to remain in full
force and effect.
SIGNED, SEALED, DATED: July 23, 1998
Inco Homes Corporation
A Delaware Corporation
(Principal)
By:
Frontier Pacific Insurance Company
(Surety)
By: enail
Victoria M. Campbell, Attorney-intFact
Valrnla Bond No. SD00031531
- Public Work Premium included in Performance Bond
SUBDIVISION BOND
ALL MEN BY THESE PRESENTS: That INCO HOMES CORPORATION, A DELAWARE
CORPORATION as Principal, and Frontier Pacific Insurance Company, a corporation organized and
existing under the laws of the State of California and authorized to transact surety business in the
State of California, as Surety are held and firmly bound unto City of La Quinta in the sum of Sixtv
Nine Thousand Nine Hundred Twenty Four and No/100ths Dollars ($69,924), for 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.
The condition of the foregoing obli tion is such that, whereas the above -bounden Principal
has entered into an agreement, dated _ 3 , 19 ?�-__, with the City of La Quinta to do and perform
the following work, to wit:
Tract #23995-3 Domestic Water
NOW, THEREFORE, if the above -bounden Principal shall pay all contractors, subcontractors,
laborers, materialmen and other persons employed in the performance of the aforesaid agreement,
then this obligation shall be void; otherwise to remain in full force and effect.
SIGNED, SEALED, DATED: July 23, 1998.
Inco Homes Corporation
A Delaware Corporation
(Principal)
By:
Frontier Pacific Insuranc ompany
(Surety)
Subdivision Bond Bond No. SD00031532
Faithful Performance - Public Work Premium $828.00/2 years
SUBDIVISION BOND
KNOW ALL MEN BY THESE PRESENTS: That INCO HOMES CORPORATION, A DELAWARE
CORPORATION as Principal, and Frontier Pacific Insurance Company, a corporation organized and
existing under the laws of the State of California and authorized to transact surety business in the
State of California, as Surety are held and firmly bound unto City of La Quinta in the sum of Forty
One Thousand Three Hundred Ninety Five and No/100ths Dollars ($41,395), for 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.
The condition of the foregoing obligation is such that, whereas the above -bounden Principal
has entered into an agreement, dated �1a , 19 q` with the City of La Quinta to do and perform
the following work, to wit:
Tract #23995-3 Sanitary Sewer
NOW, THEREFORE, if the above -bounden Principal shall well and truly perform the work contracted
to be performed under said agreement, then this obligation shall be void; otherwise to remain in full
force and effect.
SIGNED, SEALED, DATED: July 23, 1998
Inco Homes Corporation
A Delaware Corporation
(Principal)
By:
Frontier Pacific Insu nce Company
(Surety)
By:
Victoria M. Campbell, Attorney -in Fact
'"California
I - Public Work
Bond No. SD00031532
Premium included in Performance Bond
SUBDIVISION BOND
KNOW ALL MEN BY THESE PRESENTS: That INCO HOMES CORPORATION, A DELAWARE
CORPORATION as Principal, and Frontier Pacific Insurance Company, a corporation organized and
existing under the laws of the State of California and authorized to transact surety business in the
State of California, as Surety are held and firmly bound unto City of La Quinta in the sum of Forty
One Thousand Three Hundred Ninety Five and No/100ths Dollars ($41,395), for 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.
The condition of the foregoing obligation is such that, whereas the above -bounden Principal
has entered into an agreement, dated 1l 6_, 19 `j _, with the City of La Quinta to do and perform
the following work, to wit:
Tract #23995-3 Sanitary Sewer
NOW, THEREFORE, if the above -bounden Principal shall pay all contractors, subcontractors,
laborers, materialmen and other persons employed in the performance of the aforesaid agreement,
then this obligation shall be void; otherwise to remain in full force and effect.
SIGNED, SEALED, DATED: July 23, 1998.
Inco Homes Corporation
A Delaware Corporation
(Principal)
r'
Byr
Frontier Pacific Ins' ance Company
(Surety)
By:t)l t4 �n
I 031a NPAA 10, 01
Victoria M. Campbell, Attorney-i Fact
Subdivision Bond Bond No. SD00031539
Fafhf0I Performance - Public Work Premium $788.00/2 years
SUBDIVISION BOND
KNOW ALL MEN BY THESE PRESENTS: That INCO HOMES CORPORATION, A DELAWARE
CORPORATION as Principal, and Frontier Pacific Insurance Company, a corporation organized and
existing under the laws of the State of California and authorized to transact surety business in the
State of California, as Surety are held and firmly bound unto City of La Quinta in the sum of Thirty
Nine Four Hundred Twenty Eight and No/100ths Dollars ($39,428), for 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.
The condition of the foregoing obligation is such that, whereas the above -bounden Principal
has entered into an agreement, dated? �3, 19 �k_, with the City of La Quinta to do and perform
the following work, to wit:
Tract #23995-3 Electrical
NOW, THEREFORE, if the above -bounden Principal shall well and truly perform the work contracted
to be performed under said agreement, then this obligation shall be void; otherwise to remain in full
force and effect.
SIGNED, SEALED, DATED: July 23, 1998
Inco Homes Corporation
A Delaware Corporation
(Principal)
By: r
Frontier Pacific Insuran pany
(Surety)
By: � )
Victoria M. Campbell, Attorney-in-Fadt
rivision Bond California Bond No. SD00031539
br & Material - Public Work Premium included in Performance Bond
SUBDIVISION BOND
KNOW ALL MEN BY THESE PRESENTS: That INCO HOMES CORPORATION, A DELAWARE
CORPORATION as Principal, and Frontier Pacific Insurance Company, a corporation organized and
existing under the laws of the State of California and authorized to transact surety business in the
State of California, as Surety are held and firmly bound unto City of La Quinta in the sum of Thirty
Nine Thousand Four Hundred Twenty Eight and No/100ths Dollars ($39,428), for 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.
The condition of the foregoing obligation is such that, whereas the above -bounden Principal
has entered into an agreement, dated 7 _ , 10S- _, with the City of La Quinta to do and perform
the following work, to wit:
Tract #23995-3 Electrical
NOW, THEREFORE, if the above -bounden Principal shall pay all contractors, subcontractors,
laborers, materialmen and other persons employed in the performance of the aforesaid agreement,
then this obligation shall be void; otherwise to remain in full force and effect.
SIGNED, SEALED, DATED: July 23, 1998.
Inco Homes Corporation
A Delaware Corporation
(Pri
Frontier Pacific Insuran'Ce—Company
(Surety)
A
By: 0
Victoria M. Campbell, Attor"yO
Subdivision Bond Bond No. SD00031541
fafthf6l Performance - Public Work Premium $100.00/2 years
SUBDIVISION BOND
KNOW ALL MEN BY THESE PRESENTS: That INCO HOMES CORPORATION, A DELAWARE
CORPORATION as Principal, and Frontier Pacific Insurance Company, a corporation organized and
existing under the laws of the State of California and authorized to transact surety business in the
State of California, as Surety are held and firmly bound unto City of La Quinta in the sum of Five
Thousand and No/100ths Dollars ($5.000), for 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.
The condition of the foregoing obli tion is such that, whereas the above -bounden Principal
has entered into an agreement, dated - , 19_1�_, with the City of La Quinta to do and perform
the following work, to wit:
Tract #23995-3 Monument
NOW, THEREFORE, if the above -bounden Principal shall well and truly perform the work contracted
to be performed under said agreement, then this obligation shall be void; otherwise to remain in full
force and effect.
SIGNED, SEALED, DATED: July 23, 1998
Inco Homes Corporation
A Delaware
(Principal)
Frontier Pacific Insurahco-Company`-'
(Surety)
By: � )(tfR ]him "ril. m�
Victoria M. Campbell, Attorney -in -Fa t
�. I OUTSTANDING BOND REPORT
Name: Inco Homes Corporation, a Delaware Corporation
Tract No. 23995-3
Date of Contract: July 23, 1998
Required Bond Amounts:
Streets/Drainage - $164,805 (performance/labor materials same)
Water - $69,024 (same)
Sewer - $41,395 (same)
Electrical - $ 39,428 (same)
Monumentation - $ 5,000 (performance only)
Dates of Bond Reductions:
Outstanding Bonds: -
Amount:
Bond No.
$164,805
SD00031530
$164,805
(same)
$ 69,924
SD00031531
$ 69,924
(same)
$ 41,395
SD00031532
$ 41,395
(same)
$ 39,428
SD00031539
$ 39,428
(same)
$ 5,000
SD00031541
Date Cancelled/Released:
131962
PLEASE COMPLETE THIS INFORMATION
RECORDING REQUESTED BY:
STEWART TITLE
AND WHEN RECORDED MAIL TO:
CITY CLERK
CITY OF LA QUINTA
78-495 CALLE TAMPICO
LA QUINTA, CA 92253
27�
CERTIFICATION OF CORRECTION
TITLE OF DOCUMENT
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d`Ndp3��d 0S��Np�idWdpO��
I �
THIS PAGE ADDED TO PROVIDE ADEQUATE SPACE FOR RECORDING INFORMATION
($3.00 Additional Recording Fee Applies)
RECEIVED FOR RECORD
AT 8:00AM
MAR 3 0 1999
Remead M m-w =om .
a nn�uda CWni% Gu e
Recorder
Fees s
" RT TITLE CO.
,Ft ording Requested By
and
When Recorded Mail to:
City Clerk
City of La Quinta
78-495 Calls Tampico
La Quinta, CA. 92253
131962
I, Robert S. Smith certify that I am a Registered Civil Engineer of the State of California;
That a survey was prepared under my supervision in Tract No. 23995-3. That said subdivision map was
filed September 18, 1998 in Book 273, Pages 48 through 51, inclusive, of Maps, in the office of the
Recorder of Riverside County, California;
That the following data shown on said subdivision map is incorrect as:
The street name on sheet 4 is shown as COLDCREEK LANE.
1
and is corrected as follows:
The street name on sheet 4 is corrected to COLDBROOK LANE. —
h -- —
0
h
Robert S. Smith RCE 26401 Exp. 3/31IOU
01/26/99
Date
STATE OF CALIFORNIA I 01 / 2 6 / 99
COUNTY OF RIVERSIDE On before me, SANDRA S FOX NOTARY
PUBLIC ,
personally appeared ROBERTS. SMITH
LX personally known to me - OR - ❑ proved 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 his/he/their signature(s) on the instrument the person(s), or the
entity upon behalf of which the person(s) acted, executed the instrument. oEEICIAt sEAt
"FOX
WSS my hand and fFlcial seal.
coMM #t 1J5239 n
s Notary Public -California 9
l,'- dAd' I J� Z (� RIVERSIDE COUNTY r
Si -nature of Notary a My Anmmission Expires
] RIL 1, 2002
CITY ENGINEER'S CERTIFICATE
This Certificate of Correction has been examined by the undersigned and my examination discloses that changes
shown hereon are authorized by and comply with Government Code Section 66469 of the Subdivision Map Act.
Dated 215If!
By
Chris A. Vogt City Engineer
RCE 44250
Exp. 6/30/01