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25499-1 Sunrise Desert Part 90CITY OF LA QUINT] SUBDIVISION 129MOVEMM 11 T THIS AGREEMENT, made and entered `into thisVt day of4Ple-t L , 19 , by and between sunrise Desert Par rpr- hereinafter referred to as "SUBDIVIDER", AND CITY OF LA QUINTA, a municipal corporation of the State of California, hereinafter referred to as "CITY" . WITNESSETS: WHERF.AS, the Subdivider has prepared and filed a final subdivi- sion map of Tract No. 25499-1 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 City desires to accept the streets and easements shown on said map for public use, and certain other such improvements; and 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 the total cost of such improvements has been estimated by the City Engineer to be approximately -o- 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 $42,031.00 Dollars; NOW, THEREFORE, IT IS AGREED by and between the parties thereto as follows: 1. Subdivider, at his sole cost and expense, shall construct anc install the street, drainage, domestic water, sanitary sewer and other improvements required to be constructed or agreed to be constructed a. a condition precedent to the approval of said final map and acceptant of such streets and easements, as shown on the "Improvement Plans for Tract No . 2 5 4 9 9 -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 $42,031.00 Dollars to assure the faithful performance of this Agreement, and one security to be in the sum of incl. in above Dollars to assure payment of the cost of the labor and materials for the improvements required to be constructed or installed hereby, Subdivision .provemenr. 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 S incl. in $42,031.00 above to guarantee payment of the cost of setting monuments as statea in Item No. 3 Of this agreement. S. 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 (30) 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. 25499-1 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. 2 5 4 9 9 -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 $ 42,031.00 Dollars to assure the faithful performance of this Agreement with respect to said Private Streets, and one security to be in the sum of 5 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. imProv int Agre t 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 Agreemrent 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. 25499-1 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. Subdivision Improvement Agreement Page 4. IN WITNESS WHEREOF, _he parties hereto have executed this Agreement as of the day and year first written above. CITY OF L ; QUINTA By:. Ronaid L. Kiedrowsxi City Manager ATTEST: By �Gh City Clerk SUBDIVIDER: Sunrise Desert Partners A California Limited Partnership BY: Sunrise Corporation A California Corporation General Partner /D/<__�-�-�, BY: � Phillip K. Smith Executive Vice President CAT. NO. NNO0636 TO 1954 CA (9-84) (Corporation as a Partner of a Partnership) EJ) TICOR TITLE INSURANCE STATE OF CALIFORNIA COUNTY OF Riverside SS' On RAq 2'? ` l ND before me, the undersigned, a Notary Public in and for said State, personally appeared Phi 1 1 i n 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, mn MA Sunrise Corporation of the corporation that executed the within instrument on �►++�►ww♦w.w�,H,♦wN�,�r• behalf of Sunrise Desert Partners OFF►CIAESEA, the partnership that executed ipALLAN R. LEVIN the within instrument, and acknowledged to me that such �IFOFifMlA corporation executed the same as such partner and that IN such partnership executed the same. FNVERSMX COIN Ty WITNESS my hand and official seal. ► C01% sim Fyn A 21 (This area for official notarial seal) REVIEWED AND APPROVED Engineer 11/86 Date BOND 2FORMANCE - PUBLIC WORK BOND NUMBER 3SM 776 142 00 PREMIUM: $420.00 AMERICAN MOTORISTS INSURANCE COMPANY 7470 N. FIGUEROA ST., LOS ANGELES, CA 90041 (213) 257-8291 (NOW ALL MEN BY THESE PRESENTS: That SUNRISE DESERT PARTNERS as Principal, ind the AMERICAN MOTORISTS INSURANCE COMPANY, a corporation or- lanized and existing under the laws of the State of Illinois and authorized :o transact surety business in the State of CALIFORNIA, as Surety ire held and firmly bound unto CITY OF LA QUINTA in the sum of 'ORTY TWO THOUSAND & THIRTY ONE & N0/100 Dollars $42,031.00), for the payment whereof, well and truly to be Lade, said Principal and Surety bind themselves, their heirs, adminis- trators, successors, and assigns, jointly and severally, firmly by these presents. 'HE condition of the foregoing obligation is such that, whereas the above- ,ounden Principal has entered into a contract/agreement, dated XX/XX/XX, 'ith the Obligee to do and perform the following work, to wit: MPROVEMENTS TRACT # 25499-1 OW, THEREFORE, if the above -bounden Principal shall well and truly perform he work contracted to be performed under said contract, then this bligation shall be void; otherwise to remain in full force and effect. 10 IGNED, SEALED, DATED: June 29, 1992 SUNRISE DESERT PARTNERS Principal By: 000000 AMERICAN MOTOIZISTS INSURANCE COMPANY Surety By: WILLI J SHUPPER Attor y n Fact sion Bond & Material/Payment Bond Number 3SM 776 142 00 AMERICAN MOTORISTS INSURANCE COMPANY SUBDIVISION BOND KNOW ALL MEN BY THESE PRESENTS: That we,SUNRISE DESERT PARTNERS as Principal, and AMERICAN MOTORISTS INSURANCE COMPANY, as Surety, are held and firmly bound unto CITY OF LA QUINTA as Obligee, in the sum of TWENTY ONE THOUSAND, FIFTEEN AND 50/100 ($ 21,015.50), 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 THIS OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with the Obligee, dated XX/XX/19XX, in which said Principal agrees to construct designated public improvements, as follows: IMPROVEMENTS TRACT 25499-1 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 and contractor or subcontractor fails Ito 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 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. This bond shall inure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor & materials to them for the improvements. [Signed and sealed on JUNE 29TH 1992. SUNSET DESERT PARTNERS By: L-rvt-�mlr�il100M By: WILLIAM J'C4PPER Attorneyct Please direct all correspondence to: Lou Jones & Associates P.O. Box 41375 Los Angeles, Ca 90041 213-257-8291 INSURANCE COMPANY nanona Motorists Insurance Comp' ' ' Wince FIRST TERM PREMIUM FULLY EARNED Bond Number : 3SM 776142 00-A Premium (One years) : $ 0.00 MAINTENANCE BOND years) from and after the date of completion and acceptance of same. NOW, THEREFORE, If the said Principal for a : eriod:of: one y .. ears) from and after the date of comple#ion and acceptance of e b said 0 i ee, re lace an g Y g p y and alldefetsn sand work resultin from defective materials or defective ansliii them the above obligation to be void; otherwise to remain in full force and effect. SIGNED, :SEALED, DATED April 17, 1996 a American Motorists Insurance Company (Surety) By: IeAna D. Conrad, Attorney In Fact DIRECT CORRESPONDENCE TO: LOU JONES & ASSOCIATES, PO BOX 41375, 7470 N. FIGUEROA ST., LOS ANGELES, CA 90041 In PHONE (213) 257-8291 . FAX (213) 256-7218 \.(..:—.. -....1LV11Q11VV UVllll-Z.-lG-7U.UUL OUTSTANDING BOND REPORT Name: Sunrise Desert Partners Tract No. 25499-1 Date of Contract: April 17, 1990 Required Bond Amounts: $42,031 - Performance/Labor/Monument inclusive Dates of Bond Reductions: Outstanding Bonds: Amount: $42,031 $ 21,015.50 $ 4,054 Bond No. Date Cancelled/Released: 3SM 776 142 00 Released 6/26/96 3SM 776 142 00 Released 6/26/96 3SM 776 142 00-A Released 4/3/97