29147 KSL 99COUNCIL/RDA MEETING DATE: April 4, 2006
ITEM TITLE: Acceptance of Improvements As§ociated
with Tract Map No. 29147-1, Norman Estates,
Weiskopf Partners I, LLC
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Accept improvements to Tract Map No. 29147-1, Norman Estates at PGA West,
Weiskopf Partners I, LLC and authorize staff to release security upon receipt of the
warranty security.
FISCAL IMPLICATIONS:
None. Since no public improvements were included with this tract, no additional
maintenance costs are anticipated.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
Tract Map No. 29147-1 is located east of Madison Street, north of Airport Boulevard,
and south of Avenue 54 (Attachment 1). All improvements are now complete and all
obligations of the Subdivision Improvement Agreement have been satisfied. Included
as Attachment 2 is a spreadsheet indicating security to be released upon receipt of
warranty security.
174
S:\CityMgr\STAFF REPORTS ONLY\4-4-06\C1 TM 29147-1 acceptance.doc
�JNDINGS AND ALT9RNATIVES City Council include:
1 . Accept improvements to Tract Map No. 29147-1, Norman Estates at PGA
West, Weiskopf Partners I, LLC and authorize staff to release security upon
receipt of the warranty security; or
2. Do not Accept improvements to Tract Map No. 29147-1, Norman Estates at
PGA West, Weiskopf Partners I, LLC and do not authorize staff to release
security upon receipt of the warranty security; or
3. Provide staff with alternative direction.
Respectfully submitted,
4im�14
othy RCgori In., P.E.
Public Works Di oector /City Engineer
Approved for submission by:
i
Thomas P. Genovese, City Manager
Attachments: 1 . Vicinity Map
2. Security Outline
7
T:\PWDEPT\COUNCIL\2006\04-04-06\TM 29147-1 acceptance.doc 2
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CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
Tract 29147-1
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement") is made and entered into this
9th day of December 119 99 ,
by and between KSL Land 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. 29147-1 (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 "B", 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:
1) A cash deposit with City or a responsible escrow agent or trust company, at City's option.
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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-T 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 carry 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).
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).
T:\PWDEPT\STAFF\GUZMAN\TRACTS\AGREEMEN.TS\29147-1.wpd Page 2 of 6
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 receipt 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
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.
T:\PWDEPT\STAFF\GUZMAN\TRACTS\AGREEMEN.TS\29147-1.wpd Page 3 of 6
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. Failure by Subdivider to begin or complete construction of the Improvements within the specified time periods
shall constitute cause for City, in its sole discretion and when it deems necessary, to declare Subdivider in default
of this agreement, to revise improvement security requirements as necessary to ensure completion of the
improvements, and/or to require modifications in the standards or sequencing of the Improvements in response
to changes in standards or conditions affecting or affected by the Improvements. Said failure shall not otherwise
affect the validity of this agreement or Subdivider's obligations hereunder.
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
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,
T:\PWDEPT\STAFF\GUZMAN\TRACTS\AGREEMEN.TS\29147-1.wpd Page 4 of 6
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.
T:\PWDEPT\STAFF\GUZMAN\TRACTS\AGREEMEN.TS\29147-1.wpd Page 5 of 6
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written
above.
CITY:
omas P. Genovese, City Manager
ATTEST:
SUBDIVIDER:
By:
Title
By:
Title:
Reviewed and Approved:
City Engineer
Approved as to Form:Axz�uC Jyz Lf
City Attorney
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
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Date
KSL Land Corporation, a
Delaware Corporation
55-920 PGA Blvd.
La Quinta, CA 92253
(760)564-7166
Date
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Date
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Date
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Date
T:\PWDEPT\STAFF\GUZMAN\TRACTS\AGREEMEN.TS\29147-1.wpd Page 6 of 6
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
No. 5907
r
State of 0,h,�Vr w 1-&
County of C.rC. 1 d c..
On before me, �u a-1 �-i Aa Ifa, IW.
DATE NAME, TITLE OF OFFICER - E.G., "JANE 10E, NOTARY PUB
1 47L
personally appeared
Y
NAME(S) OF SIGNER(S)
tpersonally 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 ac-
knowledged to me that he/she/they executed
.1UD"A.MCNAtlY the same in his/her/their authorized
Commission # 1213208 z C a y(' a C l t I e s y
NotayPublic- calitania p ), and that b his/her/their
Z Riverside county signature(s) on the instrument the person(s),
Liao myccnrn,.�"resAqpr11,20031 or the entity upon behalf of which the
person(s) acted, executed the instrument.
WITNESS my hand and official seal.
SIGNATURE OF NOTARY
OPTIONAL
Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent
fraudulent reattachment of this form.
CAPACITY CLAIMED BY SIGNER
❑ INDIVIDUAL
C CORPORATE OFFICER
li�r le t.,k at
TITLE(S)
❑ PARTNER(S) ❑ LIMITED
❑ GENERAL
❑ ATTORNEY -IN -FACT
❑ TRUSTEE(S)
❑ GUARDIAN/CONSERVATOR
❑ OTHER:
SIGNER IS REPRESENTING:
NAME OF PERSON(S) OR ENTITY(IES)
DESCRIPTION OF ATTACHED DOCUMENT
% 1 G;4- t�"& C-kg1gl-1
TITLE OR T E OF DOCUMENT
NUMBER OF PAGES
DATE OF DOCUMENT
SIGNER(S) OTHER THAN NAMED ABOVE
®1993 NATIONAL NOTARY ASSOCIATION • 8236 Remmet Ave., P.O. Box 7184 • Canoga Park, CA 91309-7184
Exhibit A
SECURITY - TRACT 29147-1
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.
The "Engineering & Plans" security will be released when the City has possession of complete, approved, original
plans, signed and sealed by a design professional(s), for all required improvements. The "No -Plan Contingency",
which may be utilized for any listed item or for other cost found necessary in the design or construction of the
required improvements, may be released in whole or part by the City Engineer, at any time after construction plans
are complete and the scope and nature of improvements are fully known. These releases shall be separate from
and in addition to the reductions discussed below.
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%) of the original amount. 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 shall remain in place until 90 days after all required tract improvements are complete
and accepted by the City Council.
Improvement Description
Performance
Labor & Materials
Grading (On -site)
43,750
43,750
Streets & Storm Drainage (On -site)
924,619
924,619
Domestic Water (On -site)
430,205
430,205
Sanitary Sewer (On -site)
118,580
118,580
Electrical (On -site)
150,000
150,000
Sanitary Sewer (Off -site)
31,560
31,560
Streets (Off -site)
652,313
652,313
Madison St. Signal (Off -site)
75,000
75,000
Ave 58 Signal (Off -site)
150,000
150,000
Perimeter Wall (Off -site)
293,700
293,700
Perimeter & Median Landscape (Off -site)
409,913
409,913
Monumentation
21,020
0
Construction Subtotal:
$3,300,660
$3,279,640
Engineering & Plans (20% of Construction)
660,132
No -Plans Contingency (25% of Project)
990,198
Total:
$4,950,990
SUBDIVISION IMPROVEMENT BOND
FAITHFUL PERFORMANCE
(CALIFORNIA)
OFFSITES
Executed in One (1) Original
Bond 814969S
Initial Premium $ 24,187.00
for two years subject to renewal
WHEREAS, The City Council of the City of La Quinta, State of California, and KSL Land Corporation, (hereinafter
designated as "Principal") have entered into an agreement whereby Principal agrees to install and complete certain
designated public improvements, which said agreement, dated December, 1999, and identified as project
Tract 29147-1, is hereby referred to and made a part hereof; and
Whereas, Said principal is required under the terms of said agreement to furnish a bond for the faithful performance of said
agreement.
Now, therefore, we, the principal and DEVELOPERS INSURANCE COMPANY 17780 Fitch Irvine CA 92714, as surety,
are held firmly bound unto the City of La Quinta hereinafter called ("Obligee"), in the penal sum of Two Million Four
Hundred Eighteen Thousand Seven Hundred Twenty Nine Dollars and No/100 ($2.418.729.00) lawful money of the United
States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, successors, executors and
administrators, jointly and severally, firmly by these presents.
The condition of this obligation is such that if the above bounded principal, his or its heirs, executors, administrators,
successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants,
conditions and provisions in the said agreement and any alteration thereof made as therein provided, on his or their part, to
be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and
meaning, and shall indemnify and save harmless City of La Quinta, its officers, agents and employees, as therein
stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect.
As part of the obligation secured hereby and in addition to the face amount specified therefore, there shall be included
costs and reasonable expenses and fees including reasonable attorney's fees, incurred by city in successfully enforcing
such obligation, all to be taxed as costs and included in any judgment rendered.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the
agreement or to the work to be performed thereunder or the specifications accompanying the same shall in anywise affect
its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to
the terms of the agreement or to the work or to the specifications.
In witness whereof, this instrument has been duly executed by the principal and surety above named, on December 17 1
1999.
DEVELOPERS INSURANCE COMPANY
By LXW rn Lajao�-
Pane M. Nielsen, Attorney -in -Fact
17780 Fitch
Irvine, CA 92714
Agent's Address: HRH Insurance Services of Coachella Valley
77564 County Club Drive Suite 401
Palm Desert, California 92211-0449
SUBDIVISION IMPROVEMENT BOND
LABOR AND MATERIAL
(CALIFORNIA)
OFFSITES
Executed in One (1) Original
Bond 814969S
Premium included in performance bond
WHEREAS, The City Council of the City of La Quinta, State of California, and KSL Land Corporation. (hereinafter
designated as "Principal"), have entered into an agreement whereby Principal agrees to install and complete certain
designated public improvements, which said agreement, dated December, 1999, and identified as project
Tract 29147-1 , is hereby referred to and made a part hereof; and
Whereas, Under the terms of said agreement, principal is required before entering upon the performance of the work, to
file a good and sufficient payment bond with the City of La Quinta to secure the claims to which reference is made in Title
15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California.
Now, therefore, said principal and the undersigned as corporate surety, are held firmly bound unto the City of La Quinta
and all contractors, subcontractors, materialmen and other persons employed in the performance of the aforesaid
agreement and referred to in the aforesaid Code of Civil Procedure in the sum of One Million Six Hundred Twelve
Thousand Four Hundred Eighty Six Dollars and No/100 ($1.612.486.00), for materials furnished or labor thereon of any
kind, or for amounts due under the Unemployment Insurance Act with respect to such work or labor, that said surety will
pay, the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this
bond, will pay in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable
attorney's fees, incurred by city in successfully enforcing such obligation, to be awarded and fixed by the court, and to be
taxed as costs and to be included in the judgment therein rendered.
It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies and
corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code,
so as to give a right of action to them or their assigns in any suit brought upon this bond.
Should the condition of this bond be fully performed, then this obligation shall become null and void, otherwise it shall be
and remain in full force and effect.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of said
agreement or the specifications accompanying the same shall in any manner affect its obligations on this bond, and it does
hereby waive notice of any such change, extension, alteration or addition.
In witness whereof, this instrument has been duly executed by the principal and surety above named, on December 17,
1999.
DEVELOPERS INSURANCE COMPANY
Principal
B
iane M. Nielsen, Attorney -in -Fact
17780 Fitch
Irvine, CA 92714
Agent's Address: HRH Insurance Services of Coachella Valley
77564 County Club Drive Suite 401
Palm Desert, California 92211-0449
Grading
(On Site)
Bond #SD00089530
Premium $788.00
PERFORMANCE BOND
Whereas, The City of La Quinta, State of California ("Obligee") and KSL Land Corporation, a Delaware
corporation ("Original Obligor") have entered into an agreement, dated December 9. 1999 and identified as Project
PGA WEST Tract 29147-1, attached hereto and by this reference made a part hereof (the "Agreement"); and
Whereas, pursuant to the Agreement, Original Obligor has agreed to install and complete certain
designated public improvements on the Project ("Original Obligor's Obligations"); and
Whereas, pursuant to the Agreement, Original Obligor has furnished a performance bond for the faithful
performance of Original Obligor's Obligations; and
Whereas, Original Obligor has sold the Project to Weiskopf Partners I, LLC, a California Limited Liability
Company ("New Obligor"); and
Whereas, New Obligor is obligated to Original Obligor to assume Original Obligor's Obligations and to
provide a substitute bond for New Obligor's faithful performance of Original Obligor's Obligation (the "Substitute
Bond"); and
Whereas, Obligee is willing to accept the Substitute Bond on the terms set forth in this Agreement.
FRONTIER PACIFIC
Now, therefore, New Obligor and INSiTRANC_E C_ 42ANY . as Surety, are held and firmly bound unto
Obligee, in tOe penal sum of Sixty Five Thousand, Six Hundred Twenty -Five and 00/100 Dollars ($65,625.001 lawful
money of the United States (the "Bond Penalty"), for the payment of which sum well and truly to be made, we bind
ourselves, our heirs, successors, executors and administrators, jointly and severally, firmly by these presents.
The condition of this obligation is such that if New Obligor, his or its heirs, executors, administrators, successors or
assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and
provisions in the Agreement and any alteration thereof made as therein provided on his or their part, to be kept and
performed at the time and. in the manner therein specified and in all respects according to their true and intent and
meaning, and shall indemnify and save harmless Obligee, its officers, agents and employees, and therein
stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect.
As part of the obligation secured hereby, there shall be included costs and reasonable expenses and fees,
including reasonable attorney's fees (collectively, "Enforcement Costs"), incurred by Obligee in successfully
enforcing such obligations, all to be taxed as costs and included in any judgment rendered. Notwithstanding
anything contained herein to the contrary, unless Obligee incurs Enforcement Costs, in no event shall Surety's
aggregate liability under the Substitute Bond exceeds the Bond Penalty as stated above.
Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of
the agreement or to the work performed thereunder or the specifications accompanying the same shall in anywise
affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration
or addition to the terms of the agreement or to the work or to the specifications.
In witness whereof, this instrument has been duly executed by the New Obligor and Surety onSth day of
May_ 2000.
WEISKOPF PARTNERS I, LLC
Principal
Agent's Address:
FRONTI PACIFIC INSMA&E : OM 'ANY
By4nnis�H._�.
, Atorney-in-Fact
1101 S. Winchester Blvd-, 4TI=145
San Jose, CA 9512R
POPE & YOUNG BONDING SERVICES
63 W. Shaw Avenue. Suite 201
Chviss CA 93 12
Grading
(On Site)
LABOR AND MATERIAL BOND
Bond #SD00089530
Premium Included in
Performance Bond
Whereas, The City of La Quinta, State of California ("Obligee") and KSL Land Corporation, a Delaware
corporation ("Original Obligor") have entered into an agreement, dated December 9. 1999 and identified as Project
PGA WEST Tract 29147-1. attached hereto and by this reference made a part hereof (the "Agreement"); and
Whereas, pursuant to the Agreement, Original Obligor has filed a good and sufficient payment bond with
Obligee to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of
Division 3 of the Civil Code of the State of California (the "Labor and Material Bond"); and
Whereas, Original Obligor has sold the Project to Weiskogf Partners I, LLC, a California Limited Liability
Company ("New Obligor"); and
Whereas, New Obligor is obligated to Original Obligor to provide a substitute Labor and Material Bond (the
"Substitute Bond"); and
Whereas, Obligee is willing to accept the Substitute Bond on the terms set forth in this Agreement.
FRONTIER PACIFIC
Now, therefore, New Obligor and — msuRANCF. compANY , as Surety, are held and firmly bound unto
Obligee and all contractors, subcontractors, laborers, materialmen and other persons employed in the performance
of the Agreement and referred to in the California Code of Civil Procedure, in the sum of Forty -Three Thousand,
Seven Hundred Fifty and 00/100 Dollars ($43,750.00) lawful money of the United States (the "Bond Penalty") for
materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with
respect to such work or labor, that Surety will pay the same in an amount not exceeding the Bond Penalty, and
also, in case suit is brought upon the Substitute Bond, will pay, costs and reasonable expenses and fees, including
reasonable attorney's fees (collectively, "Enforcement Costs"), incurred by the City in successfully enforcing such
obligation, to be awarded, and fixed by the court, and to be taxed as costs and to be included in the judgment
therein rendered. Notwithstanding anything contained herein to the contrary, unless Obligee incurs Enforcement
Costs, in no event shall Surety's aggregate liability under the Substitute Bond exceed the Bond Penalty.
It is hereby expressly stipulated and agreed that the Substitute Bond shall inure to the benefit of any and all
persons, companies and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part
4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon the
Substitute Bond.
Should the condition of the Substitute Bond be fully performed, then this obligation shall become null and
void, otherwise it shall be and remain in full force and effect.
Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of
the Agreement or the specifications accompanying the same shall in_ any manner affect its obligations on the
Substitute Bond, and it does hereby waive notice of any such change, extension, alteration or addition.
In witness whereof, this instrument has been duly executed by New Obligor and Surety on 8t A. " day of
May , 2000.
Principal
I.r . 4►. _ �_-
Agent's Address:
FRONTI§,P4 PACIFIC INSURAIr,-E rOMPANY
--By
nnis H. Popes.__, Attcrney-in-Faci
1101 S. Winchester Blvd., Q-1414�
San Tole. CA 951 _8
Y J
trL�t� Storni Drainage
(on site)
BOND NO. SD00093937
PREMIUM: $16,643.00
PERFORMANCE BOND
Whereas, The City of La Quinta, State of California ("Obligee') and KSL Land Corporation, a Delaware
corporation ("Original Obligor") have entered into an agreement, dated December 9 1999 and identified as Project
PGA WEST Tract 29�, attached hereto and by this reference made a part hereof (the "Agreement'); and
Whereas, pursuant to the Agreement, Original Obrigor has agreed to install and complete certain
designated public improvements on the Project ("Original Obligors Obligations'); and
Whereas, pursuant to the Agreement, Original Obligor has furnished a performance bond for the faithful
performance of Original Obligor's Obligations; and
Whereas, Original Obligor has sold the Project to Weiskoof Partners 1. C, a California Limited Liabii ft
Company_ New Obligor"); and
Whereas, New Obligor is obligated to Original Obligor to assume Original Obligors Obligations and to
provide a substitute* bond for New Obligor's faithful performance of Original Obligor's Obligation (the "Substitute
Bond'); and
Whereas, Obligee is willing to accept the Substitute Bond on the terns set forth in this Agreement.
Frontier Pacific
Now, therefore, New Obligor and Insurance C ompany. as Surety, are held and firmly bound unto
Obligee, in the penal sum of One Million, Three Hundre-dLg:1ahty--Six Thousand, Nine Hundred Twenty -Nines and
001100 Dollars ($1.$86.929.0011 lawful money of the United States (the `Bond Penalty'), for the payment of which
sum well and truly to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and
severally, firmly by these presents.
The condition of this obligation is such that if New Obligor, his or its heirs, executors, administrators, successors or
assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and
provisions in the Agreement and any alteration thereof made as therein provided on his or their part, to be kept and
performed at the time and in the manner therein specified and in all respects according to their true and intent and
meaning, and shall indemnify and save harmless Obligee, its officers, agents and employees, and therein
stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect
As part of the obligation secured hereby, there shall be included costs and reasonable expenses and fees,
Including reasonable attorneys fees (collectively, "Enforcement Costs'), incurred by Obligee in successfully
enforcing such obligations, all to be taxed as costs and included in any .judgment rendered. Notwithstanding
anything contained herein to the contrary, unless Obligee incurs Enforcement Costs, in no event shall Surety's
aggregate liability under the Substitute Bond exceeds the Bond Penalty as stated above_
Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of
the agreement or to the work performed thereunder or the specifications accompanying the same shall in anywise
affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration
or addition to the terms of the agreement or to the work or to the specifications_
In witness whereof, this instrument has been duly executed by the New Obligor and Surety on 3RD day of
ril 2000.
WEISKOPF PARTNERS I, LLC FR P INSURANCE COMPANY
Principal
G g.4.14inchester
Attorney -in -Fact
1101 Blvd. D-14Sa o12
Agent's Address:
DUNG BOND
3 W. Shaw Ave sire. 01,
PREMIUM INCLUDED BOND NO. SDO0093937
IN THE PERFORMANCE BOND
LABOR AND MATERIAL BOND
Whereas, -The City of La Quinta, State of California (10bligeez) and KSL Land Corporation, a Delaware
corporation rOriginal Obligor") have entered into an agreement, dated December 9. 1999 and identified as Project
PGA WEST Tract 29147-1. attached hereto and by this reference made a part hereof (the "Agreement'); and
Whereas, pursuant to the Agreement, Original Obligor has filed a good and sufficient payment bond with
Obligee to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of
Division 3 of the Civil Code of the State of California (the `Labor and Material Bond"); and
Whereas, Original Obligor has sold the Project to Weiskocf Partners 1, LLC, a California Limited Liability
Company ('New Obligor*); and
Whereas, New Obligor is obligated to * Original Obligor to provide a substitute Labor and Material Bond (the
"Substitute Bond'); and
Whereas, Obligee is willing to accept the Substitute Bond on the terms set forth in this Agreement.
FRONTIER PACIFIC INSURANCE COMPANY
Now, therefore, New Obligor and as Surety, are held and firmly bound unto
Obligee and all contractors, subcontractors, laborers, materialmen and other persons employed in the performance
of the Agreement and referred for in the California Code of Civil Procedure, in the sum of Nine Hundred_Tweniv-
Four Thousand. Sic Hundred Nineteen and 001100 Dollars �9_24 619.QQ lawful money of the United States (the
'Bond Penalty") for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment
Insurance Act with respect to such work or labor, that Surety will pay the same in an amount not exceeding the
Bond Penalty, and also, in case suit is brought upon the Substitute Bond, will pay, costs and reasonable expenses
and fees, including reasonable attorneys fees (collectively, 'Enforcement Costs'), incurred by the City in
successfully enforcing such obligation, to be awarded, and fixed by the court, and to be taxed as costs and to be
included in the judgment therein rendered. Notwithstanding anything contained herein to the contrary, unless
Obligee incurs Enforcement Costs, in no event shall Surety's aggregate liability under the Substitute Bond exceed
the Bond Penalty.
It is hereby expressly stipulated and agreed that the Substitute Bond shall inure to the benefit of any and all
persons, companies and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part
4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon the
Substitute Bond.
Should the condition of the Substitute Bond be fully performed, then this obligation shall become null and
void, otherwise it shall be and remain in full force and effect
Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of
the Agreement or the specifications accompanying the same shall in any manner affect its obligations on the
Substitute Bond, and It does hereby waive notice of any such change, extension, alteration or addition.
In witness whereof, this instrument has been duly executed by New Obligor and Surety on 3RD day of
&grit, 2000.
WEISKOPF PARTNERS I. LLC
Principal
Agent's Address:
Domestic Water
(On Site)
Bond #SD00089531
Premium $7,744.00
PERFORMANCE BOND
Whereas, The City of La Quinta, State of California ("Obligee") and KSL Land Corporation, a Delaware
corporation ("Original Obligor") have entered into an agreement, dated December 9. 1999 and identified as Project
PGA WEST Tract 29147-1, attached hereto and by this reference made a part hereof (the "Agreement"); and
Whereas, pursuant to the Agreement, Original Obligor has agreed to install and . complete certain
designated public improvements on the Project ("Original Obligor's Obligations"); and
Whereas, pursuant to the Agreement, Original Obligor has furnished a performance bond for the faithful
performance of Original. Obligor's Obligations; and
Whereas, Original Obligor has sold the Project to Weiskogf Partners I. LLC, a California Limited Liability
Company ("New Obligor"); and
Whereas, New Obligor is obligated to Original Obligor to assume Original Obligor's Obligations and to
provide a substitute bond for New Obligor's faithful performance of Original Obligor's Obligation (the "Substitute
Bond"); and
Whereas, Obligee is willing to accept the Substitute Bond on the terms set forth in this Agreement.
FRONTIER PACIFIC
Now, therefore, New Obligor and INSURANCE COMPANY= as Surety, are held and firmly bound unto
Obligee, in the penal sum of Six Hundred Forty -Five Thousand, Three Hundred and Eight and 00/100 Dollars
45 0 .6 lawful money of the United States (the "Bond Penalty"), for the payment of which sum well and truly
to a made, we bind ourselves, our heirs, successors, executors and administrators, Jointly and severally, firmly by
these presents.
The condition of this obligation is such that if New Obligor, his or its heirs, executors, administrators, successors or
assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and
provisions in the Agreement and any alteration thereof made as therein provided on his or their part, to be kept and
performed at the time and in the manner therein specified and in all respects according to their true and intent and
meaning, and shall indemnify and save harmless Obligee, its officers, agents and employees, and therein
stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect.
As part of the obligation secured hereby, there shall be included costs and reasonable expenses and fees,
including reasonable attorney's fees (collectively, "Enforcement Costs"), incurred by Obligee in successfully
enforcing such obligations, all to be taxed as costs and included in any judgment rendered. Notwithstanding
anything contained herein to the contrary, unless Obligee incurs Enforcement Costs, in no event shall Surety's
aggregate liability under the Substitute Bond exceeds the Bond Penalty as stated above.
Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of
the agreement or to the work performed thereunder or the specifications accompanying the same shall in anywise
affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration
or addition to the terms of the agreement or to the work or to the specifications.
In witness whereof, this instrument has been duly executed by the New Obligor and Surety on 8fih day of
i�, 2000.
WEISKOPF PARTNERS I, LLC
PrinClDal
Agent's Address:
FRONTIM PACIFIC INSURANCE OWANY
By V
Dennis H. Po , Attorney -in -Fact
1101 S. Winchester Blvd., 4ID-10
San Jose, CA 95128
Domestic Water
(On Site)
Bond #SD00089531
Premium Included
in Performance Bond
LABOR AND MATERIAL BOND
Whereas, The City of La Quinta, State of California ("Obligee") and KSL Land Corporation, a Delaware
corporation ("Original Obligor") have entered into an agreement, dated December 9. 1999 and identified as Project
PGA WEST Tract 29147-1. attached hereto and by this reference made a part hereof (the "Agreement"); and
Whereas, pursuant to the Agreement, Original Obligor has filed a good and sufficient payment bond with
Obligee to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of
Division 3 of the Civil Code of the State of California (the "Labor and Material Bond"); and
Whereas, Original Obligor has sold the Project to Weiskogf Partners I. LLC, a California Limited Liability
Company ("New Obligor"); and
Whereas, New Obligor is obligated to Original Obligor to provide a substitute Labor and Material Bond (the
"Substitute Bond"); and
Whereas, Obligee is willing to accept the Substitute Bond on the terms set forth in this Agreement.
FRONTIER PACIFIC
Now, therefore, New Obligor and TNS IRAN _ . cnmPANY , as Surety, are held and firmly bound unto
Obligee and all contractors, subcontractors, laborers, materialmen and other persons employed in the performance
of the Agreement and referred to in the California Code of Civil Procedure, in the sum of Four Hundred Thirty
Thousand, Two Hundred and Five and 00/100 Dollars ($430.205.00) lawful money of the United States (the "Bond
Penalty") for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment
Insurance Act with respect to such work or labor, that Surety will pay the same in an amount not exceeding the
Bond Penalty, and also, in case suit is brought upon the Substitute Bond, will pay, costs and reasonable expenses
and fees, including reasonable attorney's fees (collectively, "Enforcement Costs"), incurred by the City in
successfully enforcing such obligation, to be awarded, and fixed by the court, and to be taxed as costs and to be
included in the judgment therein rendered. Notwithstanding anything contained herein to the contrary, unless
Obligee incurs Enforcement Costs, in no event shall Surety's aggregate liability under the Substitute Bond exceed
the Bond Penalty.
It is hereby expressly stipulated and agreed that the Substitute Bond shall inure to the benefit of any and all
persons, companies and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part
4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon the
Substitute Bond.
Should the condition of the Substitute Bond be fully performed, then this obligation shall become null and
void, otherwise it shall be and remain in full force and effect.
Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of
the Agreement or the specifications accompanying the same shall in any manner affect its obligations on the
Substitute Bond, and it does hereby waive notice of any such change, extension, alteration or addition.
In witness whereof, this instrument has been duly executed by New Obligor and Surety on 8th day of
May , 2000.
WEISKOPF PARTNERS I, LLC
Principal
Agent's Address:
FRONTIER�PACIFIC INSURANCE COMPANY
By -
nnis H. Pope , Attorney -in -Fact
1101 S. Winchester Blvd., #D-145
San Jose, CA 95128
POPE & YOUNG BONDING SERVICE.
6-3 W_ Shaw Avenue, Suite 201
_ ClomisrCA 9-1612
k
-mrmmw Sanitary Sewer
(On Site)
Bond #SD00089532
Premium $2,134.00
PERFORMANCE BOND
Whereas, The City of La Quinta, State of California ("Obligee") and KSL Land Corporation, a Delaware
corporation ("Original Obligor") have entered into an agreement, dated December 9. 1999 and identified as Project
PGA WEST Tract 29147-1, attached hereto and by this reference made a part hereof (the "Agreement"); and
Whereas, pursuant to the Agreement, Original Obligor has agreed to install and complete certain
designated public improvements on the Project ("Original Obligor's Obligations"); and
Whereas, pursuant to the Agreement, Original Obligor has furnished a performance bond for the faithful
performance of Original Obligor's Obligations; and
Whereas, Original Obligor has sold the Project to Weiskopf Partners I, LLC, a California Limited Liability
Company ("New Obligor"); and
Whereas, New Obligor is obligated to Original Obligor to assume Original Obligor's Obligations and to
provide a substitute bond for New Obligor's faithful performance of Original Obligor's Obligation (the "Substitute
Bond"); and
Whereas, Obligee is willing to accept the Substitute Bond on the terms set forth in this Agreement.
FRONTIER PACIFIC
Now, therefore, New Obligor and T_NS igmcp CEO A LM as Surety, are held and firmly bound unto
Obligee, in the penal sum of One Hundred Seventy -Seven Thousand, Eight Hundred and Seventy and 00/100
Dollars ($177,870.00) lawful money of the United States (the "Bond Penalty"), for the payment of which sum well
and truly to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally,
firmly by these presents.
The condition of this obligation is such that if New Obligor, his or its heirs, executors, administrators, successors or
assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and
provisions in the Agreement and any alteration thereof made as therein provided on his or their part, to be kept and
performed at the time and in the manner therein specified and in all respects according to their true and intent and
meaning, and shall indemnify and save harmless Obligee, its officers, agents and employees, and therein
stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect.
As part of the obligation secured hereby, there shall be included costs and reasonable expenses and fees,
including reasonable attorney's fees (collectively, "Enforcement Costs"), incurred by Obligee in successfully
enforcing such obligations, all to be taxed as costs and included in any judgment rendered. Notwithstanding
anything contained herein to the contrary, unless Obligee incurs Enforcement Costs, in no event shall Surety's
aggregate liability under the Substitute Bond exceeds the Bond Penalty as stated above.
Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of
the agreement or to the work performed thereunder or the specifications accompanying the same shall in anywise
affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration
or addition to the terms of the agreement or to the work or to the specifications.
In witness whereof, this instrument has been duly executed by the New Obligor and Surety on 8th day of
May 2000.
WEISKOPF PARTNERS I, LLC
Principal
FRONTIFX7PACIFIC INSIEWE g ME ram_
l -
Sanitary Sewer
(On Site)
LABOR AND MATERIAL BOND
Bond #SD00089532
Premium Included in
Performance Bond
Whereas, The City of La Quinta, State of California ("Obligee") and KSL Land Corporation, a Delaware
corporation ("Original Obligor") have entered into an agreement, dated December 9. 1999 and identified as Project
PGA WEST Tract 29147-1. attached hereto and by this reference made a part hereof (the "Agreement"); and
Whereas, pursuant to the Agreement, Original Obligor has filed a good and sufficient payment bond with
Obligee to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of
Division 3 of the Civil Code of the State of California (the "Labor and Material Bond"); and
Whereas, Original Obligor has sold the Project to Weiskopf Partners I. LLC, a California Limited Liability
Company ("New Obligor"); and
Whereas, New Obligor is obligated to Original Obligor to provide a substitute Labor and Material Bond (the
"Substitute Bond"); and
Whereas, Obligee is willing to accept the Substitute Bond on the terms set forth in this Agreement.
FRONTIER PACIFIC
Now, therefore, New Obligor and INSURANCE COMPANY as Surety, are held and firmly bound unto
Obligee and all contractors, subcontractors, laborers, materialmen and other persons employed in the performance
of the Agreement and referred to in the California Code of Civil Procedure, in the sum of One Hundred Eighteen
Thousand, Five Hundred and Eighty and 00/100 Dollars ($118,580.00) lawful money of the United States (the
"Bond Penalty") for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment
Insurance Act with respect to such work or labor, that Surety will pay the same in an amount not exceeding the
Bond Penalty, and also, in case suit is brought upon the Substitute Bond, will pay, costs and reasonable expenses
and fees, including reasonable attorney's fees (collectively, "Enforcement Costs"), incurred by the City in
successfully enforcing such obligation, to be awarded, and fixed by the court, and to be taxed as costs and to be
included in the judgment therein rendered. Notwithstanding anything contained herein to the contrary, unless
Obligee incurs Enforcement Costs, in no event shall Surety's aggregate liability under the Substitute Bond exceed
the Bond Penalty.
It is hereby expressly stipulated and agreed that the Substitute Bond shall inure to the benefit of any and all
persons, companies and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part
4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon the
Substitute Bond.
Should the condition of the Substitute Bond be fully performed, then this obligation shall become null and
void, otherwise it shall be and remain in full force and effect.
Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of
the Agreement or the specifications accompanying the same shall in any manner affect its obligations on the
Substitute Bond, and it does hereby waive notice of any such change, extension, alteration or addition.
In witness whereof, this instrument has been duly executed by New Obligor and Surety on 8th day of
May , 2000.
WEISKOPF PARTNERS I, LLC
Princinal
Agent's Address:
FRONTIER PACIFIC INSURANCE MNLIDANY
6p--n •
• - _
•-- CA •
POPE & YOUNG BONDING SERVICES
63 W. Shaw Avenue. Suite 201
Cinyis, CA 93611
�- lectrical
(On Site)
Bond #SD00089529
Premium $2,700.00
PERFORMANCE BOND
Whereas, The City of La Quinta, State of California ("Obligee") and KSL Land Corporation, a Delaware
corporation ("Original Obligor") have entered into an agreement, dated ,December 9. 1999 and identified as Project
P ( 9 9 )
PGA WEST Tract 29147-1, attached hereto and by this reference made a part hereof (the "Agreement"); and
Whereas, pursuant to the Agreement, Original Obligor has agreed to install and .complete certain
designated public improvements on the Project ("Original Obligor's Obligations"); and
Whereas, pursuant to the Agreement, Original Obligor has furnished a performance bond for the faithful
performance of Original Obligor's Obligations; and
Whereas, Original Obligor has sold the Project to Weiskopf Partners I, LLC, a California Limited Liability
Company ("New Obligor"); and
Whereas, New Obligor is obligated to Original Obligor to assume Original Obligor's Obligations and to
provide a substitute bond for New Obligor's faithful performance of Original Obligor's Obligation (the "Substitute
Bond"); and
Whereas, Obligee is willing to accept the Substitute Bond on the terms set forth in this Agreement.
FRONTIER PACIFIC
Now, therefore, New Obligor and TNSIMANCP- mnn_ANy, as Surety, are held and firmly bound unto
Obligee, in the penal sum of Two Hundred, Twenty -Five Thousand and 00/100 Dollars ($225,000.00) lawful money
of the United States (the "Bond Penalty"), for the payment of which sum well and truly to be made, we bind
ourselves, our heirs, successors, executors and administrators, jointly and severally, firmly by these presents.
The condition of this obligation is such that if New Obligor, his or its heirs, executors, administrators, successors or
assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and
provisions in the Agreement and any alteration thereof made as therein provided on his or their part, to be kept and
performed at the time and in the manner therein specified and in all respects according to their true and intent and
meaning, and shall indemnify and save harmless Obligee, its officers, agents and employees, and therein
stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect.
As part of the obligation secured hereby, there shall be included costs and reasonable expenses and fees,
including reasonable attorney's fees (collectively, "Enforcement Costs"), incurred by Obligee in successfully
enforcing such obligations, all to be taxed as costs and included in any judgment rendered. Notwithstanding
anything contained herein to the contrary, unless Obligee incurs Enforcement Costs, in no event shall Surety's
aggregate liability under the Substitute Bond exceeds the Bond Penalty as stated above.
Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of
the agreement or to the work performed thereunder or the specifications accompanying the same shall in anywise
affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration
or addition to the terms of the agreement or to the work or to the specifications.
In witness whereof, this instrument has been duly executed by the New Obligor and Surety on 8th day of
May , 2000.
WEISKOPF PARTNERS I, LLC
Prinninni
FRONTIER. -PACIFIC INSURANCE; C"ANX
By
r14-19min i A 14 Pona, Attorney -in -Fact
1101 S. Winchester Blvd..,. #D=-.145
San Jose, CA 95128
Agent's Address:
C,.'YOUNG BONDING SERVICES
63 W. Shaw Avenue, Suite 201
Clovis, CA 93612
Electrical
(On Site)
LABOR AND MATERIAL BOND
Bond #SD00089529
Premium Included in
Performance Bond
Whereas, The City of La Quinta, State of California ("Obligee") and KSL Land Corporation, a Delaware
corporation ("Original Obligor") have entered into an agreement, dated December 9. 1999 and identified as Project
PGA WEST Tract 29147-1. attached hereto and by this reference made a part hereof (the "Agreement"); and
Whereas, pursuant to the Agreement, Original Obligor has filed a good and sufficient payment bond with
Obligee to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of
Division 3 of the Civil Code of the State of California (the "Labor and Material Bond"); and
Whereas, Original Obligor has sold the Project to Weiskopf Partners I. LLC, a California Limited Liability
Company ("New Obligor"); and
Whereas, New Obligor is obligated to Original Obligor to provide a substitute Labor and Material Bond (the
"Substitute Bond"); and
Whereas, Obligee is willing to accept the Substitute Bond on the terms set forth in this Agreement.
FRONTIER PACIFIC
Now, therefore, New Obligor and _ INSURANCE COMPANY as Surety, are held and firmly bound unto
Obligee and all contractors, subcontractors, laborers, materialmen and other persons employed in the performance
of the Agreement and referred to in the California Code of Civil Procedure, in the sum of One Hundred Fifty
Thousand and 00/100 Dollars ($150.000.00� lawful money of the United States (the "Bond Penalty") for materials
furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to
such work or labor, that Surety will pay the same in an amount not exceeding the Bond Penalty, and also, in case
suit is brought upon the Substitute Bond, will pay, costs and reasonable expenses and fees, including reasonable
attorney's fees (collectively, "Enforcement Costs"), incurred by the City in successfully enforcing such obligation, to
be awarded, and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered.
Notwithstanding anything contained herein to the contrary, unless Obligee incurs Enforcement Costs, in no event
shall Surety's aggregate liability under the Substitute Bond exceed the Bond Penalty.
It is hereby expressly stipulated and agreed that the Substitute Bond shall inure to the benefit of any and all
persons, companies and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part
4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon the
Substitute Bond.
Should the condition of the Substitute Bond be fully performed, then this obligation shall become null and
void, otherwise it shall be and remain in full force and effect.
Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of
the Agreement or the specifications accompanying the same shall in any manner affect its obligations on the
Substitute Bond, and it does hereby waive notice of any such change, extension, alteration or addition.
In witness whereof, this instrument has been duly executed by New Obligor and Surety on 8th day of
May, 2000.
--
WEISKOPF PARTNERS I, LLC
Drint-inni
Agent's Address:
FRONT
Iwo
By
Attorney -in -Fact
1101 S. Winchester Blvd., #D-145
San Jose, CA 95128
•••
• i. : I iii
• , .
•19SMAWIMPUT.
M(3NUMENTAYION
PEfZ:C31R G B_Ot1D
Bond #SD00094371
Premium $252.00
Nthe[eas, the t;ity of La Quinta. State of "ifomia (°Obligee") and K'SC. Land Cvrpore Wrr, a DeJtarwate
weal Obt W-) . tg9 and identified as Project
���� �-p� have entered into an agre�mer►t. eial� Dec � � rEernertY); and
PGA WEST Tract 29147-1. ort Ito and by SW reference made a part heteof (the A9
Was. puralmt to the Agreement. Original Obligor 1M armed to i„%W% UP& c co � certain
designated pubic impmvernents on the Project (-OW91081 OKWigor's Oblicfons" ), and
Whereas. pursuant to the Agreernenl, Original Obligor nas furr► d a Worrriarlm kpand tar the ta+thtut
performance of Original Obligor'S Obligations, a d
wher"Sa C>rigireaf Obfi_cW has sold the PrOJect to W, oaf P,art�ners t L , a afefornia
Cerny ("New Obligor); and
Wheme5. N~ Ob}�qor is obligated tO OrigMal ObWOr tv assume Ori aKd Obligors obligahnns and to
provide a subst►tute bond for Now Obingoes faiiMui performance of Or194W Obti`gar's Obfic}ason {the *Subsblute
8ond''); and
Wtrereas. ObWee is willmg 10 accept the Substitute Bond on tfie leans set forth in this Agreerr*nt_
Now, thefefoe+e, New Obligor and F qpNcE_cQMPAtjY. ,as SureW. are held and
fit(MV Wund utft Obtipe. in d%S PIMS1 Sum Of T -0ne h rid and 001loo Dotlam ($21,020.0-0
aar+ 1fui n'ea eV of the UrtMW Sidles (the "Sand i�naW). for the payment Ot *hich sum wari and VUV W be made. we
bind ourselves, our tars, successors, executors and adRtirggV*Mrs. joh7W aid ally. Gnrrdy by these presents-
The cor�ditian of this Obli+gadort is such t!'►a1 if lr1eW Obt+gor• his Or its heirs.
execnora admkustrat+ors, suceess"s m
assigns, shall in all tt i z stand to and abide by. and well and trullr keep and Pin' *C co' oar�dons and
pravisroAS ih tree qg rtent ar4 any attawatian owoot rna<dde as therein provided on his of their part, to be kept deed
em their lls aocordiog r true and in" and
performed at Isle Om and in the mWWW Umvin spsdfied and in ant respits o goers. agents and ems. and Me:ein
Mearmg. and rhell Indemnity and save narmtess Obkgee. ;t ete be ar+d MTOin in fun force and effect
stipu' w x then this obrrgat on shall DeCorree rill and Void; alherwi6e
As part of the oblig8tiin secured hareby. there shall be included costs and Messonabie expere-mrs�f�itN
including reasonable atton vWs fens (8 YeVY, "EnJDMCrtirertt Goats'), iricucs+rd ObUge u
enfamjng such obrigjati' M att la be taxed as cysts and Included in any jud9nwnt r+ red- NptwMwAondirg
snV voadnined hwein to the contrary, unless Obbgee in=rs Ent a�osts, in no event shall Surety's
aggregate Nab*ty under the Substituto ftnd exceeds the bnd oPSWW as SURW
t"i hwweby 514mA8tes and agmes that no change, exfcnts on of time. alterabon� same �k 1ddition to e to frns Of
the agfeBMMI Cr to the Wsrk p�erftm ed thereurvJer or the spepfiC�olns accorrehariying
rvywise
affect its obugattana on Oft bond. and it does feaby waive rtab= of dry such chwmjA eaclemlon of time, aeration
or addition to the ttmm of the egmemAm air to five worts or to the specifications.
In witness whereof.
may, 2000-
this instrument has been duly executed I by dw New Obfr W and SWVY a„18th day of
1 K PF ARTNER
Agent's Address:
'I L
POPE. $YOU J10ND114G SE�=
Bond #SD00094378
Premium $126.00
MONUMEffrATION (COnncY) PERFORIMNCF, DON .
Vtlttereta3. -ths Ctty of La Ouw". Stalls of Caldocnra ("Oblfgna"l and KSL- L-and C(rpomtiorf. a Delaware
Omparation ("Origirtal Obligor') have entered into an agrement, dGWd Dgpe 1999 and identified as Proiect
PGA WEST Tram! 147-1. attached hereto and by this reference made a part hereof Otte "Agreameml; and
-A, w-aas, pursuant to the Agreements Orlglnal obligor has agreed to install and complete certain
designated public improvements on the Project ("Original Obligor's Obligations"): and
VV:rareas, pursuant to the Agr nt, Ordinal Obligor has furnished a peforrnanee band for the faithful
pffbrMance of OdgbvW Obligoes Obtii OIfVf , and
�Vw.-eas. Original ObOWr has sold the project to admM 1. LLC. a i<a LjMAC i,Uability
QVMMI Ctkw and
1Mherems, New Obligor is obligated fo Original Obtiga tO Mum* OriigkW Obi s Obligations and to
prvvMie a subst bond for Now QbtiWs taithful perfamonce aF OriDi W Obfipwla Obliaatbn (We 'Substitute
Band'). and
VVherees. 0b%9e0 is wiiimg to, accW the Substitute smA on the tech set forth in this AWQNMnt.
Now, th eref ire. New Obligor and FRAPt C-8 M91FIG IMMA j�EQQAW, as Su"My. are held and
surety bound unto Mom. in the penal cum of Tan . #60 "Undt" I" mud QW100 Cutlass 4iC.b,__ io-OO]
lawful money or Via "ed SWes (Om'Bdtd sew'). for the paynwnt of which sum wall and truly to tar n i de. we
bind ouraehres, our helm. successors, meautors and administmtors. jointly and severely, firmly by these presents.
Tiee oandition of Obis obiOetior+ Assuch that it New Oblio►. his or its heirs, exomtors, administrators, )furore or
assigns, shoal in an thinas nand to and shift by. and well and truly keep and perform the aoveMMts, conditions and
pravisions in " Agnersrnent and any )ae ration thereof made as therein provided on his or their pwL to lea xapt and
performed at tl'ra fine end in the rtfdr ar therein specified and in stir rbW a is, aocordkv to their rue and intont arfd
crosaning. and shalt indawnnity and saws harmless 17bligse, its oifioers, agents and rsmpbyees, and therein
stlpuk t d, then this abligation shall boom* null and void; otherwise it shah be and remain in fid tot+oe and effect.
As pert of " abtigaon s*=*d hers W. that& sho be Muded costa and redsohab* eWnm and toes,
wvAx ing m2soraWe nOwwV's fees (OW111113!lively. T hRiccenVMt COWL incurne d by ObCtoee in suoi�fultY
enforcing such obligaltionec. gM lO to taxed as cast) one induced in WW lud9Rtwn rendered 1Mviwffl in9
anyttring conts4od herein 10 " eoninmV. un*j o Obligoe bumm Eef [oroOMM11 Coats, in no event shall SLw*Ws
aMepke rmbirdy under the Substihrte Bend ids Use Bond Penaity as *tMd above.
Surety hereby stiWL-oaes and agrees that no change, n of *no. AVMV&SOn of ate Oon to the trams of
ttw agrearr em or to trite work performed therounder or the spedfi=60119 aCcampetNYWO the Hanle shall in OnYMSO
affect RG obligations on this bond, end it do&s hereby waive nano® of any such Change, axtenSion Of time. alten**n
or addition to the terms of the agreement or to the work or to the speddi aUMS.
in witness whereof. this insWweent has bnan duly executed by the New Obligor and Surety on2 .Lb. day of
Mom, 2000.
VWISKOPF PARThMS 1
07
Principal
Ageni•s Addtass.
Poor; & YoURE agmS �.�.-----
e.nmft- Cafffania 9381 _
OUTSTANDING BOND REPORT
Name: KSL Land Corporation
Tract No. 29147-1
Date of Contract: December 9, 1999
Required Bond Amounts:
Grading (onsite)
$ 43,750
performance/labor
Streets & Drainage (onsite)
$ 924,619
same
Water (onsite)
$ 430,305
same
Sewer (onsite)
$ 118,580
same
Electrical (onsite)
$ 150,000
same
Sewer (offsite)
$ 31,560
same
Streets (offsite)
$ 652,313
same
Madison Signal (offsite)
$ 75,000
same
Ave 58 Signal (offsite)
$ 150,000
same
Perimeter wall (offsite)
$ 293,700
same
Perimeter/Median
Landscaping (offsite)
$ 409,913
same
Monumentation
$ 21,020
performance only
Engineering/Plans
$ 660,132
No -Plans Contingency
$ 990,198
Dates of Bond Reductions:
Weiskopf replaced security on -7*ai2E)G — 61,D-el b o
Outstanding Bonds:
Amount:
Bond No.
Date Cancelled/Released:
$ 2,418,729
814969S
$1,612,486
same
$2,500,731
814968S
Released 6/26/2000
$1,667,154
same
Released 6/26/2000
$ 31,530
814970S
Released 6/29/2000
$ 65,625
SD00089530
$ 43,750
same
$1,386,929
SD00093937
$ 924,619
same
$ 645,308
SD00089531
$ 430,205
same
$ 177,870
SD00089532
$ 118,580
same
$ 225,000
SD00089529
$ 150,000
same
$ 21,020
SD00094371
$ 10,510 ��, ,� SD00094378