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24208 Williams/LQ Assoc 90CITY OF LA QUINTA SUBDIVISION IMPROVEMENT AGREEMENT THIS AGREEMENT, made and entered into this -S-'64 day of Q 19 %0 by and between In a s ,e_U 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. 24208 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 $851,000.00 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.2420811; 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 24208 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 $1,202,700.00 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 $587,500.00dollars 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. 24208 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 4. Portions of the improvements required herein for Tract No. 24208 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. 24208. 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. 24208 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 24208 Page 3 8. 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 24208 Page 4 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above. CITY OF LA UINTA By: Ronald L. Kiedrowski Citv Manaaer ATT SUBDIV DER: By: Address: By: Subscribed and Sworn to before me this 3/G day of 19�. OFFICIAL SEAL f - Vi K9 J. MORTENSON Seal o f Notary C - Notary Ps�biic-Caiiforr�Ia RIVERSIDE COUNTY • My comm. Exp. Oct. 2, IM lot REVIEWED AND APPROVED City gi eer Date SUBDIVISION IMPROVEMENT AGREEMENT - Tract 24208 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. 24208. 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;in addition to the Performance and Payment bonds required above, the Subdivider shall provide a Performance Bond to assure the maintenance of landscaping and irrigation within perimeter lots, park and drainage basin areas for a period of one (1) year following the full completion of improvements. BOND GROUP IMPROVEMENT DESCRIPTION PERFORMANCE BOND PAYMENT BOND 1 Streets and Drainage �$ 719,000' 3591500`J Improvements (including grading) i Perimeter lots and Park/Basin 1321,00014" 66,000 Site (landscaping and walls) 2 Sanitary sewer facilities 99,0004 49,500� Domestic water facilities 2251,000' 112,500� 3 Survey monuments 7,700 43 -0- 4 Landscape Maintenance Bond (Perimeter Lots, Park/Basin Area) 20,000 4 v -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. Bond Group 1 - Totals = Bond Group 2 - Totals = Bond Group 3 - Totals = Bond Group 4 - Totals = Performance Bond $ 851,000 324, 000 -e 7,700-A 20,000 GRAND TOTALS = $ 1,202,700 Payment Bond $ 425,500 162,000 -0- -0- $ 587,500 Mond No. 3SM 758 271 00 Tract 24208; Streets and Storm Drains SURETY BOND ENDORSEMENT To be attached to and form a part of Performance Bond, issued by the undersi ned Company, as Surety, on behalf of E. . WILLIAMS DEVELOPMENT CORPORATION as Principal, and in favor of CITY OF LA QUINTA , as Obligee. Effective May 8 , 19 92 , the Principal and the Surety hereby agree to amend the attached Bond as follows: The amount of this bond is reduced by $503,300.00 as follows: From Seven Hundred Nineteen Thousand and No/100ths Dollars ($719,000.00) To Two Hundred Fifteen Thousand, Seven Hundred and No/100ths Dollars ($215,700.00) Provided that the liability under this endorsement shall be part of, and not in addition to, the liability under the attached bond, and in no event cumulative. Nothing herein contained shall vary, alter or extend any of the provisions, conditions, or other terms of this bond except as above stated. Signed, sealed and dated this 13th day of Apri 1 , 19 92 E. G. WILLIAMS Development Corporation Name of Principal By Title ACCEPTED: By IAZ Willi 7470 Los A CITY OF LA QUINTA Name of Obligee By Title J Shupper t Figueroa Street es, CA 90041 Endorsement No: 2, BOND No. 3SM_758 �. d 00 pREMIumt Included • in Performance Bond LABOR AND MATERIAL ;%YM=T BOND Ltbdiytdj0n 1 KNOW ALL. MEN BY THESE PRESRNTS That We, E. G. Williams'Develo ment Corporation Insurance Company as Pr nv Pa an ri t Surety, are held and firmly bound unto City of La u i nta dr p ligM, in the aum o hre H ------ f t e DO ars r lawful money o Un fed tatee. for the payment of who sum weld. and tru�.yrto be sentpmade, we bind ourselves jointly and aovorally, firmly by these p e T= OFT FOREGOING OBLIGATION IS SUCH, That, Whereas, THE • CGNDI ON principal has entered, into a Subdivision Agreement with-6a saidP p in which said Principal Obligee, dated , " creep to construct esignatod pu 1 v improvementa, as followg: Street Improvements including Storm Drainage (Structures), Tract No. 24208- and,.. as A aonditign of -approving said Subdivision, the PrihoiP&ls q re uired to givo a Labor and Material Payment Bond as herain provided* THEREFORE. i f said Principal or any contractor or-subcontractoor NQW, r ment used a lea: to ay. for any materialr, prQv�,sions, or rented equipro�ementr i on orp.for or about the construction of the public imp in up performance of the work to be done, or for any work or labor thQ or P will pay of any kind, in or on such improvements, said Surety above and, in same in an amount not exGoed�.ng the sum i• forth fee® in the additions the Surety Agrees to pay reasorninleantacti.onrto enforce this event that it becomes necessary to bring bond. -This bond shall inure to the benefit of the contractor, hija subcontractors, and to persons renting equipment or furnishing labor or materials to them for the improvements. Signed and sealed on Mav 8,1990 , ment Corpgration Venturer Principe B Wil(jiVmjj. Shupper, Attorney in Fact `. Bdnif No 3SM 758 272 00 Tract 24208; Landscaping and Walls SURETY BOND ENDORSEMENT To be attached to and form a part of Performance Bond, issued by the undersigned Company, as Surety, on behalf of E. G. WILLIAMS DEVELOPMENT CORPORATION as Principal, and in favor of CITY OF LA QUINTA , as Obligee. Effective May 8 , 19 92 , the Principal and the Surety hereby agree to amend the attached Bond as follows: The amount -of this bond is reduced by $92,400.00 as follows: From One Hundred Thirty -Two Thousand and No/100ths Dollars ($132,000.00) To Thirty -Nine Thousand, Six Hundred and No/100ths Dollars ($39,600.00) Provided that the liability under this endorsement shall be part of, and not in addition to, the liability under the attached bond, and in no event cumulative. Nothing herein contained shall vary, alter or extend any of the provisions, conditions, or other terms of this bond except as above stated. Signed, sealed and dated this 13th day of Apri 1 , 19 92 _ E. G. WILLIAMS DEVELOPMENT CORPORATION Name of Principal By Title ACCEPTED: CITY OF LA QUINTA Name of Obligee AMERICAN MOTORISTS INSURANCE COMPANY By vu- Willia 7470 N Los An IShupper Figueroa Street s, CA 90041 Endorsement No: 2 By Title ■ BONI) N©. 3SM 758 a, 72 00 PREMIUMt Included in Performance Band LABOR AND MATERIAL P.AYMFNT BOND "8Qd iyjM_iQn ) KNOW ALL MEN BY THESE PRESENTS, That We, E. G. Williams'Development Corporation ag Pr nv paa A,�Pg1caan Motorists_ I nsu,rance Company Surety, are held and fir•ml,y bound unto Citx of La uinta ai G Qos, n the a= o - - -- -- - ---- - -- - --- - --- Do axe , aw u money at t e Un ted stater., for the payment Qf who Bum well and truly to be made, we bind.ourselves jointly and severally, firmly by these presents. THE,CQNDITXQN OF THE FOREGOING OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with:said Obligee, dated r in which said Principal m1aarees to construct esignat©d pu 1 o improvementa, as follows: Perimeter Lot and Park/Basin (Landscaping and Walls), Tract No. 24208 and;., as a condition of., approving said Subdivision, tiie Principal is required to give a Labor and Material .Payment Bond as herein provided* Now, THEREFORE-o-if said Principal or any contractor or subcontractor fai,la .. to pay. for any materiala, provisions, or rented equipment used in upon, or for or about the construction of the public impro✓ementr 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 let forth above and, in addition, the Surety agrees to pay reasonable attorneys' fees in the !event that it becomes necessary to bring an action to enforce this !bond. This bond shall inure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials to them for the improvements. Signed and sealed on May 8,1990 ,_ • 1 ment Co tion, venturer Principal t • OUTSTANDING BOND REPORT Name: Williams Development/La Quinta Association Tract No. 24208 Date of Contract: May 15, 1990 Required Bond Amounts: $719,000 - $359,500 - streets/drainage/grading - labor $132,000 - $ 66,000 - perimeter landscaping/walls - labor $ 99,000 - $49,500 - sewer - labor $225,000 - $112,500 - water - labor $ 20,000 - landscape maintenance $ 7,700 - monuments Dates of Bond Reductions: $719,000 reduced to $215,700 on 5/19/92 $132,000 reduced to $ 39,600 on 5/19/92 $ 39,600 reduced to $ 13,200 on 3/2/93 Outstanding Bonds: Amount: Bond No. $719,000 3SM 758 271 00 $215,700 3SM 758 271 00 $359,500 3SM 758 271 00 $132,000 3SM 758 272 00 $ 39,600 3SM 758 272 00 $ 66,000 3SM 758 272 00 $ 20,000 3SM 758 276 00 $ 99,000 3SM 758 273 00 $ 49,500 3SM 758 273 00 $225,000 3SM 758 274 00 $112,500 3SM 758 274 00 $ 7,700 3SM 758 275 00 Date Cancelled/Released: Reduced on 5/19/92 Reduced on 5/19/92 Reduced on 3/2/93 Released on 3/8/93 Released 12/2/92 Released 2/17/93 Released 12/2/92 Released 2/17/93 Released 12/2/92 NOTE: No replacement warranty bond for landscaping improvements