24317-1 Sunrise Desert Part 89CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AlIT
THIS AGRE N[ENT, made and entered into this day ofa24E��
19, by and between SUNRISE DESERT PARTNERS hereinafter
referred to as "SUBDIVIDER", AND CITY OF LA QUINTA, a municipal
corporation of the State of California, hereinafter referred to as
"CITY".
WITNESSETB:
WHEREAS, the subdivider has prepared and filed a final subdivi-
sion map of Tract No. 24317-1 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 -0- 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,. Subdivider, by said map, has not offered for dedication
to the City for public use the aforementioned private streets; 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 $554,755.00 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, 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. 243._ 1"; a copy of which is now on file in the office of the
City Engineer of the City and which is referred to and incorporated
herein as though set forth in full.
2. Subdivider shall furnish to City a security satisfactory in
form and substance to City Attorney executed by a corporation author-
ized to transact surety business in the State of California on forms
approved by the City, one security to be in the sum of $554,755.00
Dollars to assure the faithful performance of this Agreement, and one
security to be in the sum of incl _ in ahnvP Dollars to assure payment of
the cost of the labor and materials for the improvements required to
be constructed or installed hereby.
subdivision Improvement Agreement
Page 2.
3. Before final approval of the street improvements, the
Subdivider will place survey monuments in accordance with the provi-
sions of the State Subdivision Map Act and the Subdivision ordinance
of the City of La Quinta as shown on the Tract Map.
The Subdivider, after setting the monuments, shall furnish
the City Engineer of the City of La Quinta, written notice of the
setting of said monuments and written proof of having paid the
engineer or surveyor for the setting of said monuments, or as
provided for in the Subdivision Map Act.
4. In accordance with the terms of said subdivision regulation
aforesaid, the Subdivider does hereby agree to furnish a security
satisfactory in form and substance to the City Attorney in the amount
Of $incl. in $554,755.00 above to guarantee payment of the cost of
setting monuments as states in Item No. 3 of this agreement.
5. 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.
6. Subdivider shall complete such improvement plans including
any corrections and revisions thereto necessary to comply with the
applicable City standards as determined by the City Engineer, within
thirty ( 3 0 ) days after approval of the final map.
7. 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.
8. Subdivider shall commence the construction and installation
of such improvements within ninety (90) days from the approval of
such "Improvement Plans" for Tract No. 24317-1 by the City
Engineer, and shall complete such construction and installations
within eighteen (18) months from such date of commencement.
9. The labor and material security required herein at Item No. 2
herein shall be retained by the City for one (1) year to support the
guarantee of the improvements by the Subdivider as required by Item
No. 7 herein.
10. Ten percent (10%) of the performance security required by
Item No. 2 herein shall be retained by the City for one (1) year to
support the guarantee of the improvements by the Subdivider as
required by Item No. 7 herein.
11. Subdivider also agrees, at his sole cost and expense, to
construct and install to the standards and specifications required by
the City, the Private Streets as shown on the aforementioned
"Improvement Plans" for Tract No. 24317-1
12. Subdivider shall furnish to city a security satisfactory in
form and substance to the City Attorney executed by a corporation
authorized to transact surety business in the State of California on
forms approved by the City, one security to be in the sum of
$ 554,755.00 Dollars to assure the faithful performance of this
Agreement with respect to said Private Streets, and one security to
be in the sum of $incl. in above Dollars to assure payment of the
cost of labor and materials for the Private Streets required to be
constructed hereby.
13. The City Engineer or his duly authorized representative,
upon written request of Subdivider, shall inspect the Private Streets
herein agreed to be constructed by Subdivider, and determine if said
Private Streets have been constructed in compliance with the
standards and specifications required by City for public streets.
Subdivision Improvement Agreement
Page 3.
14. Subdivider hereby guarantees said Private Streets for a
period of one year following the completion by Subdivider, and
approval by City Engineer, against any defective work or labor done,
or defective materials furnished, in the performance of this
Subdivision Improvement Agreement by Subdivider and shall repair or
replace any such defective work or materials subsequently discovered.
15. Subdivider shall commence the construction and installation
of said Private Streets within ninety (90) days from the approval of
such "Improvement Plans" for Tract No. 24317-1 by the City
Engineer, and shall complete such construction and installations
within eighteen (18) months from such date of commencement; provided,
however, that Subdivider shall have the option at its sole discretion
to extend the completion period described herein past the eighteen
(18) months time period to any future date said Subdivider
may select. It is understood, however, that as a condition precedent
to extending the aforementioned completion period, Subdivider shall
furnish the City the securities described in Item No. 12 herein
covering any extended completion period selected by Subdivider
pursuant to this paragraph. The amount of said securities to be
furnished to City pursuant to this paragraph shall be sufficient to
insure the performance of additional work to complete, after taking
into account work already performed, the aforementioned Private
Streets. Said securities amount to insure completion shall be
determined by City's engineer.
16. The labor and material security required herein at Item No.
12 shall be retained to secure payment to the contractor, his
subcontractors, and to persons renting equipment or furnishing labor
or materials for six ( 6 ) months after completion and approval of the
work provided at Item No. 11 herein by the City Engineer.
17. Ten percent (10%) of the performance security required by
Item No. 12 herein shall be retained by the City for one (1) year to
support the guarantee of the improvements by the Subdivider as
required by Item No. 15 herein.
18. In the event that Subdivider fails to perform any obligation
hereunder, Subdivider authorizes City to perform such obligation
sixty (60) days after mailing written Notice of Default to Subdivider
at the address given below, and agrees to pay the entire cost of such
performance by City.
19. 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. _
20. Subdivider hereby binds itself, its executors,
administrators and assigns, and agrees to indemnify, defend and hold
the City harmless from any losses, claims, demands, actions or causes
of action of any nature whatsoever, arising out of or in any way
connected with the improvements agreed to be constructed and
installed hereunder by the Subdivider, including costs of suit and
reasonable attorney's fees.
W
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Subdivision Improvement Agreement
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
By: z
Ronald L. Kiedrowski
City Manager
ATTEST:
City Clerk
SUBDIVIDER:
BY:
By. a 6,L,:,
Phillip K. Aith
Executive Vice President
SUNRISE DESERT PARTNERS
A California Limited Partnership
SUNRISE CORPORATION
A California Corporation,
General Partner
j-,
Subscribed and Sworn to before me
this day of ,
19
seal of Notary
CAT. NO. NNO0636
TO 1954 CA (9-84)
(Corporation as a Partner of a Partnership)
STATE OF CALIFORNIA
COUNTY OF Riverside
QeO- TICOR TITLE INSURANCE
SS.
On AL--6vgj'y'7. 19 `gq before me, the undersigned, a Notary Public in and for
said State, personally appeared Phi 11 i p K . Smith, Jr
personally known to me or proved to me on the basis of satisfactory evidence to be the person who executed
the within instrument as the Executive Vice President, KAW
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Sunrise orForat i nn
the corporation that executed the within instrument on fPt-A �� �.. N.. �. �.�N♦
behalf of Sunrise Desert Partners
• ti OFFICIAL SEAL
the partnership that executed r ALLAN R, LEVIN`
the within instrument, and acknowledged to me that such NOTARY PUBJ IC•CAUFORNIA 9 corporation executed the same as such partner and that ® PRINCIPAL OFFICE IN
such partnership executed the same. A RIVERSIDE COUNTY
WITNESS my hand and official seal. My Commission Exp. Aug. 21, 1992
Signatur ,
(This area for official notarial sea))
11/86
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to
American Motorists Insurance Company - °��
camvanis
FIRST TERM PREMIUM FULLY EARNED
Bond Number : 3SM 776 15100-A
Premium (One years) : $ 0.00
MAINTENANCE BOND
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
Maintenance Bond-2-12-96.dot
ft ^ TOKAI BANK BRANCH 018
'tV OF CALIFORNIA MEMBER FDIC
NON-NEGOTIABLE • NOT TRANSFERRABLE
CERTIFICATE OF DEPOSIT
It
93 MULTIPLE SINGLE 1 2�L1
MATURITY � MATURITY SFPTFMRF
MATURITY D1�ATE
ow-098218
Branch
' MA IN BRANCH Tnq ANCIrRTRS CALIFORNIAJi' YJIW: SIC • 00 19
THIS CERTIFIES THAT ******rP01MNAMMrP C,,OT,T,F.CTION L �+� HAS/HAVE DEPOSITED
AY
IN TOKAI BANK OF CALIFORNIA ONLY � 401 DOLLARS $ ***********
PAYABLE TO *********** F. CITY OF T,A�TTIIIITA�E************************************************
UPON SURRENDER OF THIS CERTIFICATE, PROPERLY ENDORSED, AT THE ISSUING BRANCH.
This certificate is issued for a period of ******12 MONTFTL9************* If multiple maturity it will automatically renew for a similar
period of time at the then current interest rates, unless presented for redemption within 10 days after the maturity date. If single maturity, no
interest will be paid after the maturity date. The Bank reserves the right to redeem this certificate during any renewal period upon 14 days prior
written notice. The interest rate on this certificate is*-Y-' n i* ** % per annum, based on a 36_ day year.
INTEREST IS: PAY INTEREST: BY:
❑ SIMPLE ❑ EVERY DAYS ❑ REINVEST (CAPITALIZE) AT MATURITY
COMPOUNDED DAILY ❑ EVERY MONTHS ❑ CHECK TO DEPOSITOR(S)
❑ COMPOUNDED QUARTERLY AT MATURITY ,13 CREDIT CHECKING ACCOUN-.001-532715 INT ONLY
❑ CREDIT SAVINGS ACCOUNT
❑ ADDITIONAL INSTRUCTIONS
❑ HOLD AS COLLATERAL
❑ HOLD IN SAFEKEEPING
SIGNATURE OF PURCHASER
*********************
SIGNATURE OF PURCHASER hUTHbRIZED SIGNATURE
I/WE UNDERSTAND THERE MAY BE A SUBSTANTIAL PENALTY FOR AR Y WITHDRAWAL
PLEASE READ AND UNDERSTAND THE FOLLOWING RULES ON TIME CERTIFICATES F DEPOSIT
1. AS A TIME CERTIFICATE DEPOSITOR, YOU HAVE AGREED TO KEEP YOUR FUNDS ON DEPOSIT FOR AT AST THE PERIOD OF TIME STATED
ON THE TIME CERTIFICATE OF DEPOSIT.
2. IN THE EVENT A CERTIFICATE IS REDEEMED PRIOR TO ITS MATURITY DATE (i.e., BEFORE THE PERIOD OF TIME STATED ON THE
CERTIFICATE AS THE TERM OF DEPOSIT HAS ELAPSED) AN EARLY WITHDRAWAL PENALTY SHALL BE ASSESSED AT THE NOMINAL (SIMPLE
INTEREST) RATE. THESE PENALTIES DO NOT APPLY FOR WITHDRAWALS FOLLOWING THE DEATH OF ANY DEPOSITOR OR THE
DECLARATION OF INCOMPETENCY OF ANY DEPOSITOR BY A COURT.
3. IF THE CERTIFICATE HAS AN ORIGINAL MATURITY OF UP TO ONE YEAR, THE EARLY WITHDRAWAL PENALTY WILL BE THE LOSS OF THE
EQUIVALENT OF 30 DAYS INTEREST, WHETHER OR NOT THE INTEREST IS EARNED ON THE AMOUNT WITHDRAWN.
4. IF THE CERTIFICATE HAS AN ORIGINAL MATURITY OF OVER ONE YEAR, THE EARLY WITHDRAWAL PENALTY WILL BE THE LOSS OF THE
EQUIVALENT OF THREE MONTHS INTEREST, WHETHER OR NOT THE INTEREST IS EARNED, ON THE AMOUNT WITHDRAWN.
5. FOR 7-31 DAY CERTIFICATES, THE EARLY WITHDRAWAL PENALTY WILL BE THE LOSS OF AN AMOUNT EQUAL TO THE GREATER OF (A) ALL
INTEREST EARNED ON THE AMOUNT WITHDRAWN FROM THE MOST RECENT DATE OF DEPOSIT OR DATE OF RENEWAL OR (B) SEVEN (7)
DAYS INTEREST.
9-19-00********************************************
SIGNATURE OF PURCHASER DATE SIGNATURE OF PURCHASER DATE
OUTSTANDING BOND REPORT
Name: Sunrise Desert Partners
Tract No. 24317-1
Date of Contract: September 6, 1989
Required Bond Amounts:
$554,755 - Faithful Performance
Dates of Bond Reductions:
July 31, 1990 - reduced to $ 60,000
Outstanding Bonds:
Amount:
$ 60,000
$ 30,000
$ 20,156
$ 4,200(dust control)
Bond No.
3SM 776 151 00
3SM 776 151 00
3SM 776 151 00-A
CD# 098218
Date Cancelled/Released:
Released 6/26/96
Released 6/26/96
Expired 3/19/97