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29894-2 NRI-CCPCITY OF LA QUINTA SUBDIVISION IMPROVEMENT AGREEMENT Tract 29894 -2 THIS SUBDI ISION IMPROVEMENT AGREEMENT (the "Agreement") is made and entered into this I day of 7:jZy�3S , 2001, by and between NRI - CCP I, LLC, a Delaware Limited Liability Company, (Country Club of the Desert), 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. 29894-2 (the "Tract") pursuant to the provisions of Section 66410, et sec. of the California Government Code (the "Subdivision Map Act"). B. Prior to approval of the Map, Subdivider is required to install or agree to install certain public and private improvements (the "Improvements"). C. The Improvements have not been installed and accepted at this time. D. It is therefore necessary that Subdivider and City enter into an agreement for the installation of the Improvements as provided in Section 66462 of the Subdivision Map Act. NOW, THEREFORE, it is agreed by and between the parties hereto as follows: 1. Improvement Plans. Prior to submittal of the Map for approval by the City Council, Subdivider shall furnish original improvement plans meeting the requirements of the City Engineer. 2. Improvements. Subdivider shall construct the public and private street, drainage, utility, landscaping, and other improvements required to be constructed or agreed to be constructed under this Agreement as listed in Exhibit "A", and shall bear the full cost thereof. The methods, standards, specifications, sequence, and scheduling of construction shall be as approved by the City Engineer. 3. Improvement Security. A. One class of security to be provided by Subdivider, hereinafter referred to as "performance security," shall assure the faithful performance of this Agreement including construction of the Improvements, payment of Subdivider's fair share of Improvements which have been or will be constructed by others ("Participatory Improvements"), and payment of plan check and permit fees. A second class of security to be provided by Subdivider, hereinafter referred to as "payment security," shall assure the payment of the cost of labor, equipment and materials supplied to construct the Improvements. A third class of security to be provided by Subdivider, hereinafter referred to as "warranty security," shall serve as a guarantee and warranty of the Improvements for a period of one year following the completion and acceptance of the Improvements. Subdivider shall furnish performance and payment security prior to and as a condition of City Council approval of the Map. Subdivider shall provide warranty security after Improvements are complete and accepted by the City Council and prior to or concurrently with the final release of performance security. Warranty security shall not be required for Monumentation or Participatory Improvements. However, the City may utilize Monumentation Security for performance of or payment for the work in accordance with the Subdivision Map Act. As part of the obligation secured by each of the performance security, payment security and warranty security, and in addition to the face amount of each such security, each such security shall include and assure the payment of costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in successfully enforcing the obligations thereby secured. B. Improvement security shall conform with Section 66499 of the California Government Code and one or more of the following: 1) A cash deposit with City or a responsible escrow agent or trust company, at City's option. T:\PWDEPT\STAFF\LINDSEY\TRACTS\29894-2\S I Agreement.wpd Page 1 of 6 2) Surety bonds, of the form specified in subsection 66499.2 of the California Government Code, issued by a surety or sureties listed in the U.S. Department of Treasury Circular 570 (latest version). 3) Certificates of deposit, in City's name, from one or more financial institutions subject to regulation by the state or federal government and having a financial quality rating of "A" or better and a commitment reliability rating of "R-2" or better on the Investment Data Exchange (of the Los Angeles County Treasurer's office). 4) Irrevocable letters of credit, issued by one or more financial institutions meeting the requirements of Paragraph (3), pledging that the funds necessary to 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\LINDSEY\TRACTS\29894-2\S I Agreement.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\LINDSEY\TRACTS\29894-2\S I Agreement.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 Majeure. 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\LINDSEY\TRACTS\29894-2\S I Agreement.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\LINDSEY\TRACTS\29894-2\S I Agreement.wpd Page 5 of 6 Jun-11-01 07:16A P_16 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above. CITY. l • Thomas P. Genovese, City Manager ATTEST: SUBDIVIDER: N� I .. �� �,toe Nafi r�V(stws) I� � V Li - D A By: Title-, City of La Quinta 78-495 Calle Tampico La Quinta, CA 92253 760/777-7075 Date NRI - CCP I, LLC, a Delaware Limited Liability Company l 81-100 Avenue 53 P. O. Box 980 La Quinta, CA 92253 (760) 398 - 0599 n(_0xz'01 Date By: Date Title: Reviewed and Approved: C Engineer Date 9Approved as to Form: /)-S�V City A tom to T�\PWOEPT\5TAFF%LINQSEYITRAGTS\29894 2`S I Agreement-wp(I JUN 11 2001 12:07 Pauc 6 of 6 PAGE.16 Acknowledgment to Subdivision Improvement Agreement STATE OF OHIO ) ss. COUNTY OF FRANKLIN ) On June 12, 2001, before me, personally appeared Brian J. Ellis, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person or the entity upon behalf of which the person acted, executed the instrument. WITNESS my hand and official seal.' Signature [notarial seal] P p►11►L s�� _ M If LYNN COSTELLO Notary Public, State of Ohio d% o =My Commission Expires �, r� o F a r,,.- Exhibit A SECURITY - TRACT 29894-2 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) 590,000 590,000 Street Improvements (On -site) 2,169,524 2,169,524 Storm Drainage (On -site) 258,800 258,800 Domestic Water (On -site) 1,535,150 1,535,150 Sanitary Sewer (On -site) 930,075 930,075 Dry Utility/Electrical (On -site) 355,834 355,834 Street Improvements (Off -site) 818,105 818,105 Traffic Signals 225,000 0 Offsite Jefferson Street Imp. (Participatory) 155,000 0 Street Dry Utilities (Off -site) 543,616 543,616 Domestic Water (Off -site) 986,300 986,300 Perimeter Wall (Off -site) 802,200 802,200 Perimeter Landscape (Off -site) 323,856 323,856 Monumentation 50,000 0 Construction Subtotal: $9,743,460 $9,313,460 Engineering & Plans (20% of Construction) 1,948,692 No -Plans Contingency (25% of Project) 2,923,038 Total: $14,615,190 Gf Ins�ra�ce OUP. Amemherof. eitigr�up 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of: Bond No. BE 2623601 effective 14th of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($855,500.00) Eight Hundred, Fifty Five Thousand, Five Hundred Dollars, With the Initial Premium amount of ($8,555.00) Eight Thousand, Five Hundred, Fifty - Five Dollars. TO: Bond Amount of ($885,000.00) Eight Hundred, Eighty Five Thousand Dollars With the initial Premium amount of ($8,850.00) Eight Thousand, Eight Hundred, Fifty Dollars Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th day of September, 2001. GULF INSURANCE CO PANY Catherine deLorm orrey-in-Fact BOND NO. BE 2623601 Initial Premium: $8,555.00 SUBJECT TO RENEWAL SUBDIVISION PERFORMANCE BOND (Grading On -Site) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Eight Hundred, Fifty Five Thousand, Five Hundred ($855,500.00)***Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2nd day of July, 2001. This bond is effective as of: September 14, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company by La Quinta Land Partners LLC its Authorized ent BY: Nancy Aarons n, President "Surety" Gulf Insurance Company 110 West A Street Suite 1805 San Diego, CA 92101 Ca erine deLorm, rney-in-Fact 2913 S. Pullman Street Santa Ana, California 92705 BOND NO. BE 2623601 Premium Included with Performance Bond SUBJECT TO RENEWAL SUBDIVISION MATERIALS and LABOR BOND (Grading On -Site) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Eight Hundred, Fifty Five Thousand, Five Hundred ($855,500.00)***Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2nd day of July, 2001. Effective date of this bond i s : September 14, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company by La Quinta Land Partners LLC its Authoriz ;Agent BY: Nancy Aaro so , President "Surety" Gulf Insurance Company 110 West A Street Suite 1805 San Diego, CA 92101 BY: Ca Brine deLorm, Atto y-in-Fact 2913 S. Pullman Street Santa Ana, California 92705 gulf Insurance group AmemberofeNgrolp 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of - Bond No. BE 2623602 effective 141h of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood- and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($375,260.00) Three Hundred, Seventy Five Thousand, Two Hundred and Sixty Dollars, With the Initial Premium amount of ($3,752.60) Three Thousand, Seven Hundred, Fifty Two Dollars. TO: Bond Amount of ($388,200.00) Three Hundred Eighty Eight Thousand, Two Hundred Dollars. With the initial Premium amount of ($3,882.00) Three Thousand, Eight Hundred and Eighty Eight Dollars. Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th of September, 2001. GULFA,,NSURANCE CO ANY Cat erine deLorm,�"Y-"m'ey-irt-Fact BOND NO.: BE2623602 DZfIAL PREMIUM: $3,752.60 SUBJECT TO RENEWAL SUBDIVISION ]PERFORMANCE BOND STORM DRAINAGE (ON -SITE) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company. as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in th-t sum of Three Hundred, Seventy Five Thousand, Two Hundred, Sixty ($375,260.tti) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: WHEREAS, the above named Principal, as a condition of the filing of the Tract Map No. 29894- 2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, othe wise it shall remain in full force and effect. IN WPINESS WHEREOF, the seal and signature of said Principal i> hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attomey-in- Fact at Santa Ana , California, this 2nd Day of July, 2001. This bond becomes effective: 14th of September, 2001 4•PMCIPAL.:+ NW-CCP I, LLC a Delaware limited lia ' ity ompauy HY: by La Quin and Partners its Author d Agent Nancy Aaronson, President "SURETY" Gulf Insur,�}r'ce Company LLC Catherine deLorm AM r 2913 S. Pullman Street Santa Ana, CA 92705 in Fact BOND NO.: BE2623602 Premium included with Performance Bond SUBJECT TO RENEWAL SUBDIVISION LABOR AND MATERIALS BOND STORM DRAINAGE (ON -SITE) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quints as Obligee, in th.: sum of Three Hundred, Seventy Five Thousand, Two Hundred, Sixty ($375,260."i90) Dollars, foi' which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: WHEREAS, the above named Principal, as a condition of the filing of the Tract Map No. 29894- 2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE. the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITINESS WHEREOF, the seal and signature of said Principal i> hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Aaorney-in- Fact at Santa Ana , California, this 2nd Day of July, 2001. This bond becomes effective: 14th of September, 2001 -PRINCIPAL" N, M-CCP I, LLC a pelaware limited Bab TIFfon `,SURETY" Gulf Insur-ce Company BY: by La Quinta nd Partners LLC Catherine deLorm Attorney in Fact its Authori z Agent 2913 S. Pullman' Street Nancy Aaronson, President Santa Ana, California 92705 Golf Msuo�nee ��ou AmemberotcitigrQup 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of: Bond No. BE 2623603 effective 141h of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood- and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($3,145,810.00) Three Million, One Hundred and Forty Five Thousand, Eight Hundred and Ten Dollars, With the Initial Premium amount of ($31,458.00) Thirty One Thousand, Four Hundred, Fifty Eight Dollars. TO: Bond Amount of ($ 3,254,286.00) Three Million, Two Hundred and Fifty Four Thousand, Two Hundred and Eight six Dollars. With the initial Premium amount of ($32,542.86) Thirty Two Thousand, Five Hundred and Forty Two Dollars and Eighty -Six Cents. Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th of September, 2001. GAe*ne URANCECCIPANY CaeLo ttorney-in-Fact BOND NO. BE 2623603 Initial Premium: $31,458.00 SUBJECT TO RENEWAL SUBDIVISION PERFORMANCE BOND Street Improvements (On -Site) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Three Million, One Hundred Forty-five Thousand, Eight Hundred, Ten ($3,145,810.00) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2°d day of July, 2001. This bond becomes effective: 14d' of September, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company By La Quinta Land Partners LLC Its Authorized Agent BY: Nancy Aaronson, C dent "Surety" Gulf Insurance Company 110 West A Street, Suite 1805 San Diego, CA 92101 i� BY: _ Catherine deLorm, A rney-in-Fact 2913 S. Pullman Street Santa Ana, California 92705 Premium Included With Performance Bond BOND NO.: BE2623603 SUBJECT TO RENEWAL $LJBDIVISION LABOR and MATERIALS BOND STREET IMPROVEMENTS (ON -SITE) KNO W BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company. as Principal, and, Gulf Insurance Curripany, a corporanon organizcd and doing business order and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surcry business in the State of California as Surety, arc held and firmly bound unto City of La Quinta as Obligee, in th sum of Three Mlllion,One Hundred Forty Five Thousand, EigN Hundred, Ten ($3,145,810.00pollars, for which payment, weal and truly to be made, we bind ourselves, our heirs, exeeul4rs and successors, jointly and severally firmly by these presents. TIM CONDITION OF THE ODLIGATIOIV IS SUCII TILAT. UMERF.AS, the above named Principal, as a condition of the filing of the Tract flap .No. 29894.2 c;nicmd into an agreement or agreements with said Obligee to coirip,ete the improvcme-nts specified in said agreement or agreements. NOW THFRFFORF., the condition of this obligitlnn is such, that if the: above Principal stall weft and truly perform said agreement or agreements during the original term the.-rof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation Shall he void, otherwise it shall remain in full force and effect. TNT' WrI NESS t' HERFOF, the seal and signature of said Principal i; hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney -in - Fact at Santa Ana, California, this 2nd day of July, 2001. This bond becomes effective: 14th of September, 2001 PRINCIP.A.L." NIU-CCP I, LL.G elaware limited Habib company c-a By - by La Quin a an ners its Authorized Ag �. t Nancy Aaronson, esident "SURETY" Gulf Insur / . Company 11L_ Catherine deLorm, Attorney in Fact 2913 S. Pullman Street Santa Ana, CA 92705 Gulf Insurance soup J AmemberoteNVOW 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of: Bond No. BE 2623604 effective 141h of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood -and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($2,225,968.00) Two Million, Two Hundred Twenty Five Thousand, Nine Hundred and Sixty Eight Dollars, With the Initial Premium amount of ($22,260.00) Twenty Two Thousand, Two Hundred, Sixty Dollars. TO: Bond Amount of ($2,302,725.00) Two Million, Three Hundred and Two Thousand, Seven Hundred and Twenty Five Dollars. With the initial Premium amount of ($23,027.25 ) Twenty Three Thousand, Twenty Seven Dollars and Twenty Five Cents. Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 241h of September, 2001. GUL INSURANCE CO PANY Cat Brine deLo torney-Iri-Fast BOND NO-:8a623604 MTIAL PREMIUM. $22,260.00 SUBJECT TO RENEWAL SUBDIVISION PERFORMANCE BOND DOMESTIC WATER KNOW BY ALL MEN BY THESE PRESENT'S: That we, NRI-CCU' I, LLC a Delaware limited liability company, as principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly mound unto City of is Quinta as Obligee, in th,: sum of Two Million, Two Hundred Twenty five Thousand, Nine Hundred Sixty Eight($2,225,968.V*ars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: WHEREAS, the above named Principal, as a condition of the filing of the Tract Map No. 29894- 2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, othenvise it sha11 remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal i ; hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney -in - Fact at Santa Ana, California, this 2nd day of July, 2001 This bond becomes effective 14th of September, 2001. "PMCIPAL" NRI-CCP I, LLC a Delaware limited Dabijity( company M by La Quint4and Partners LLC its Authori Agent Nancy Aaronson, President "SURETY" Gulf Insu Lee Company. 10 - rrrr 2913 S. Pullman Street Santa Ana, CA 92705 Premium Included with Performance Bond BOND NO.:8122623604 SUBJECT TO RENEWAL. SUBDIVISION LABOR AND MATERIALS BOND DOMESTIC WATER KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in this sum of Two Million, Two Hundred Twenty five Thousand, Nine Hundred Sixty Eight($2,225,968.V*ars, fo' which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: VMEREAS, the above named Principal, as a condition of the filing of the Tract Map No. 29894- 2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN VVTTNESS WHEREOF, the seal and signature of said Principal i > hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and arrested by its duly authorized Attorney -in - Fact at Santa Ana, California, this 2nd day of July, 2001 This bond becomes effective: 14th of September, 2001 `•PRINCIPAL" NRI-CCP I, LLC a Delaware limited liabAy)corr BY: by La Quentand Partners LLC its Authori ed Agent Nancy Aaronson, President ,"SURETY" Gulf Insur .ce Company BY: C to heri eLornrr Attarn y-' 2913 S. Pullman Street Santa Ana, CA 92705 GulfInsura�ce:.G...roup. Amemberof grpup 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of: Bond No. BE 2623605 effective 141h of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood -and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($1,348,609.00) One Million, Three Hundred Forty Eight Thousand, Six Hundred and Nine Dollars, With the Initial Premium amount of ($13,486.09) Thirteen Thousand, Four Hundred, Eighty Six Dollars and Nine Cents. TO: Bond Amount of ($1,395,113.00) One Million, Three Hundred Ninety Five Thousand, One Hundred, Thirteen Dollars. With the initial Premium amount of ($13,951.13) Thirteen Thousand, Nine Hundred, Fifty One Dollars and Thirteen Cents. Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th of September, 2001. GULF SURANCE CO ANY Ca ne deLorm, Yc�_'Iey-ixi-Fact BOND NO. BE 2623605 Initial Premium: $13,486.09 SUBJECT TO RENEWAL SUBDIVISION PERFORMANCE BOND SANITARY SEWER KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of One million, Three Hundred Forty Eight Thousand, Six hundred and Nine ($1,348,609.00) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2nd day of July, 2001. This bond becomes effective 14th of September, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company by La Quinta Land Partners LLC its Authorized Aunt BY: Nancy Aaronso , President "Surety" Gulf Insurance Company 110 West A Street Suite 1805 San Diem, CA 92101 BY: G ���� CAtWrine deLormi A mey-in-Fact 2913 S. Pullman Stfeet Santa Ana, California 92705 BOND NO. BE 2623605 Premium included in performance Bond SUBJECT TO RENEWAL SUBDIVISION LABOR and MATERIALS BOND SANITARY SEWER KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of One million, Three Hundred Forty Eight Thousand, Six hundred and Nine ($1,348,609.00) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2°a day of July, 2001. This bond becomes effective: 14th of September, 2001. "Principal" "Surety" NRI-CCP I, LLC Gulf Insurance Company 110 West A Street A Delaware limited liability company Suite 1805 by La Quenta Land Partners LLC San Diego, CA 92101 its Authorized gent BY: BY: _ 52 Nancy Aar on, President rine deLo ttorney-in-Fact 2913 S. Pullma reet Santa Ana, California 92705 UP.- -ulf in.s.ce+� Amemberof.019roup 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of: Bond No. BE 2623606 effective 14th of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($515,959.00) Five Hundred Fifteen Thousand, Nine Hundred and Fifty Nine Dollars, With the Initial Premium amount of ($5,159.00) Five Thousand, One Hundred, Fifty Nine Dollars. TO: Bond Amount of ($533,751.00) Five Hundred Thirty Three Thousand, Seven Hundred, Fifty One Dollars. With the initial Premium amount of ($5,337.51) Five Thousand, Three Hundred, Thirty - Seven Dollars and Fifty One Cents. Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th of September, 2001. GU W NSURANCE C PANY Ahz-'A / *19 Ca erine deLo ttorney-in-Fact BOND NO. BE 2623606 Initial Premium: $5,159.00 SUBJECT TO RENEWAL KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Five Hundred, Fifteen Thousand, Nine Hundred, Fifty Nine ( $515,959.00)****** Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2°d day of July, 2001. This bond becomes effective: 14th of September, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company by La Quinta Land Partners LLC its Authorized A t (7 BY: 1A-01_. Nancy Aaronst President "Surety" Gulf Insurance Company 110 West A Street Suite 1805 San ' ego, CA 92101 BY: vine deLo orney-in-Fast 2913 S. Pullman S reet Santa Ana, California 92705 BOND NO. BE 2623606 Premium included in performance Bond SUBJECT TO RENEWAL SUBDIVISION LABOR and MATERIALS BOND Dry Utility/Electrical KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Five Hundred, Fifteen Thousand, Nine Hundred, Fifty Nine ( $515,959.00)****** Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2°d day of July, 2001. This bond becomes effectiveY 14thof September, 2001. "Principal" "Surety" NRI-CCP I, LLC Gulf Insurance Company 110 West A Street A Delaware limited liability company Suite 1805 by La Quenta LandPartners LLC SanL , CA 92101 its Authorized ent BY: BY: erine deLo orney-in-Fact Nancy Aaron on, President 2913 S. Pullman reet Santa Ana, California 92705 Gulf Instoanlc-e.(3�-Toup Amem6erofcrfigroup 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of: Bond No. BE 2623607 effective 14th of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood -and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($1,186,252.00) One Million, One Hundred Eighty Six Thousand, Two Hundred and Fifty TwoDollars, With the Initial Premium amount of ($11,862.52) Eleven Thousand, Eight Hundred, Sixty Two Dollars and Fifty -Two Cents. TO: Bond Amount of ($1,227,158.00) One Million, Two Hundred Twenty Seven Thousand, One Hundred and Fifty Eight Dollars. With the initial Premium amount of ($12,271.58) Twelve Thousand, Two Hundred Seventy One Dollars and Fifty Eight Cents. Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th of September, 2001. G4erine SURANCE C ANY CdeLo or BOND NO. BE 2623607 Initial Premium:$11,862.52 SUBJECT TO RENEWAL SUBDIVISION PERFORMANCE BOND Street Improvements (Off -Site) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of One Million, One Hundred Eighty Six Thousand, Two Hundred, Fifty Two ($1,186,252.00) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the'above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2nd day of July, 2001. This bond becomes effective: 14th of September, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company by La Quenta Land Partners LLC its Authorized Ascent BY: Nancy Aaron obn President "Surety" Gulf Insurance Company 110 West A Street Suite 1805 San iego, CA 92101 BY*athine eLorm, ey-in-Fact 2913 S. Pullman Street Santa Ana, California 92705 BOND NO. BE 2623607 Premium Included with Performance Bond SUBJECT TO RENEWAL SUBDIVISION Labor and Materials Bond Street Improvements (Off -Site) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of One Million, One Hundred Eighty Six Thousand, Two Hundred, Fifty Two ($1,186,252.00) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2"d day of July, 2001. This bond becomes effective: 14th of September, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company by La Quenta Land Partners LLC its Authorized ent BY: Nancy Aaronso , President "Surety" Gulf Insurance Company 110 West A Street Suite 1805 San Diego, CA 92101 BY. C t e' e deLorm, A ey-in-Fact 2913 S. Pullman Street Santa Ana, California 92705 � 1. ura�e� roe Amemberofcitigrppp 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of: Bond No. BE 2623608 effective 141h of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($326,250.00) Three'Hundred Twenty Six Thousand, Two Hundred and Fifty Dollars, With the Initial Premium amount of ($3,262.50) Three Thousand, Two Hundred, Sixty Two Dollars and Fifty Cents. TO: Bond Amount of ($337,500.00) Three Hundred Thirty Seven Thousand, Five Hundred Dollars. With the, initial Premium amount of ($3,375.00) Three Thousand, Three Hundred and Seventy Five Dollars. Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th of September, 2001. GU INSURANCE a erine deLo , ttorney-in-Fact BOND NO. BE 2623608 Initial Premium: $3,262.5 0 SUBJECT TO RENEWAL SUBDIVISION PERFORMANCE BOND TRAFFIC SIGNALS KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Three Hundred, Twenty Six Thousand, Two Hundred, Fifty ($326,250.00) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2°d day of July, 2001. Thisbond becomes effective: 14th of September, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company by La Qu;nta Land Partners LLC 11 its Authorized gont BY: Nancy Aaronson, President "Surety" Gulf Insurance Company 110 West A Street Suite 1805 San Diego, CA 92101 BY: Cat erine deLorm, Oey-in-Fact 2913 S. Pullman Street Santa Ana, California 92705 Gulf hisurance Gi�uv Amemberof Agrpup 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of: Bond No. BE 2623609 effective 14th of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($224,750.00) Two Hundred Twenty Four Thousand, Seven Hundred and Fifty Dollars, With the Initial Premium amount of ($2,247.50) Two Thousand, Two Hundred, Forty Seven Dollars and Fifty Cents. TO: Bond Amount of ($232,500.00) Two Hundred Thirty Two Thousand, Five Hundred Dollars. With the- initial Premium amount of ($2,325.00) Two Thousand, Three Hundred and Twenty Five Dollars. Said Bond shall be subject to all terms, conditions, and limitations except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th of September, 2001. A SURANCE CO ANY deLorm,6dorney-in-Fact BOND NO. BE 2623609 Initial Premium: $2,247.50 SUBJECT TO RENEWAL SUBDIVISION PERFORMANCE BOND Off Site Jefferson Street Improvements (Participatory) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Two Hundred Twenty Four Thousand, Seven Hundred, Fifty ($224,750.00)*** Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2°d day of July, 2001. This Bond becomes effective: 14th of September, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company by La Quinta Land Partners LLC its Authorized gent BY: BY Nancy Aarons n President "Surety" Gulf Insurance Company 110 West A Street Suite 1805 San Diego, CA 92101 me deLorm,kl!qrey-in-Fact 2913 S. Pullman Street Santa Ana, California 92705 G. Wf Insm-ance rats Amemberofcrfiigroup 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of: Bond No. BE 2623610 effective 141h of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood .and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($788,243.00) Seven Hundred Eighty Eight Thousand, Two Hundred and Forty Three Dollars, With the Initial Premium amount of ($7,882.43) Seven Thousand, Eight Hundred Eighty Two Dollars and Forty Three Cents. TO: Bond Amount of ($815,424.00) Eight Hundred Fifteen Thousand, Four Hundred and Twenty Four Dollars. With the initial Premium amount of ($8,154.24) Eight Thousand, One Hundred, Fifty -Four Dollars and Twenty Four Cents. Said Bond shall be subject to all terms, conditions, and limitations,, except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th of September, 2001. GZahn6edeLorml INSURANCE C PANY Corney-in-Fact BOND NO. BE 2623610 Initial Premium: $7,882.43 SUBJECT TO RENEWAL SUBDIVISION PERFORMANCE BOND Street Dry Utilities KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Seven Hundred Eighty Eight Thousand, Two Hundred Forty Three ($788,243.00) ***Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2°d day of July, 2001. This bond becomes effective: 14th of September, 2001. "Principal" "Surety" NRI-CCP I, LLC Gulf Insurance Company 110 West A Street A Delaware limited liability company by La Quinta Land Partners LLC Its Authorized gent BY: Nancy Aaronso , President Suite 1805 San ' ego, Ca 92101 BY: Ck�ihetine deLorm A me v-in-Fa ct 2913 S. Pullman Street r Santa Ana, California 92705 BOND NO. BE 2623610 Premium Included with Performance Bond SUBJECT TO RENEWAL SUBDIVISION LABOR and MATERIALS BOND Street Dry Utilities KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Seven Hundred Eighty Eight Thousand, Two Hundred Forty Three ($788,243.00) ***Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2nd day of July, 2001. This bond becomes effective: 14th of September, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company by La Quinta Land Partners LLC its Authorized Acrent BY: sap BY Nancy AaronsonPresident "Surety" Gulf Insurance Company 110 West A Street Suite 1805 San Diego, CA 92101 r Cat 'ne deLorm, rney-in-Fact 2913 S. Pullman Street Santa Ana, California 92705 gulf Insurance Gioup.J Amemberafcitigroup 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of: Bond No. BE 2623611 effective 14th of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood -and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($1,43 0,13 5.00) One million, Four Hundred Thirty Thousand, One Hundred and Thirty Five Dollars, With the Initial Premium amount of ($14,301.35) Fourteen Thousand, Three Hundred and One Dollars and Thirty Five Cents. TO: Bond Amount of ($1,479,450.00) One Million, Four Hundred Seventy Nine Thousand, Four Hundred and Fifty Dollars. With the initial Premium amount of ($14,764.50) Fourteen Thousand, Seven Hundred Sixty Four Thousand Dollars and Fifty Cents. Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th of September, 2001. GUL INSURANCE C PANY Catherine deLorm orney-in--Fact BOND NO. BE 2623611 Initial Premium: $14,301.35 SUBJECT TO RENEWAL SUBDIVISION Performance Bond Domestic Water (Off -Site) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of One Million, Four Hundred Thirty Thousand, One Hundred Thirty Five ($1,430,135.00) ***Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2nd day of July, 2001. This bond is to become effective: 14th of September, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company by La Quinta Land Partners LLC its Authorize gent BY: Nancy Aaronr , President "Surety" Gulf Insurance Company 110 West A Street Suite 1805 San iego, CA 92101 BY: Cat Brine deLorm, tto ey-in-Fact 2913 S. Pullman Street Santa Ana, California 92705 BOND NO. BE 2623611 Premium Included with Performance Bond SUBJECT TO RENEWAL SUBDIVISION LABOR and MATERIALS BOND Domestic Water (Off -Site) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of One Million, Four Hundred Thirty Thousand, One Hundred Thirty Five ($1,430,135.00) ***Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2°d day of July, 2001. This bond becomes effective: 14th of September, 2001. "Principal" NRI-CCP I, LLC "Surety" Gulf Insurance Company 110 West A Street A Delaware limited liability company Suite 1805 by La Quinta Land Partners LLC San W ego, CA 92101 its Authorize ent BY: BY: _ Ca me deLorm, tto ey-in-Fact Nancy Aaro so , President 2913 S. Pullman Street Santa Ana, California 92705 Gulf Insurance Groin J Amem6erotcNgrytq 110 West "A" Street, Ste. 1805, San Diego, CA 92101 To be attached to and form a part of: Bond No. BE 2623612 effective 141h of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($1,163,190.00) One million, One Hundred Sixty Three Thousand, One Hundred and Ninety Dollars, With the Initial Premium amount of ($11,631.90) Eleven Thousand, Six Hundred, Thirty One Dollars and Ninety Cents. TO: Bond Amount of ($1,203,300.00) One Million, Two Hundred Three Thousand, Three Hundred Dollars. With the initial Premium amount of ($12,033.00) Twelve Thousand, Thirty Three Dollars. Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th of September, 2001. GU INSURANCE CO NY C ne deLorm, A ney-in-Fact BOND NO. BE 2623612 Initial Premium: $11,631.90 SUBJECT TO RENEWAL SUBDIVISION PERFORMANCE BOND Perimeter Wall (Off -Site) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of One Million, One Hundred Sixty Three Thousand, One Hundred Ninety ($1,163,190.00) ***Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2°d day of July, 2001. This bondbecomes effective: 14th of September, 2001. "Principal" "Surety" NRI-CCP I, LLC Gulf Insurance Company 110 West A Street A Delaware limited liability company Suite 1805 by La Quinta Land Partners LLC San W ego, CA 92101 its Authorized ent BY: BY: Cat 'ne deLorm, tto. y-in-s� act Nancy Aarons n President 2913 S. Pullman St Santa Ana, California 92705 BOND NO. BE 2623612 Premium Included with Performance Bond SUBJECT TO RENEWAL BDIVISION id Materials Bond er Wall (Off -Site) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of One Million, One Hundred Sixty Three Thousand, One Hundred Ninety ($1,163,190.00) ***Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2nd day of July, 2001. This bond becomes effective: 14th of September, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company by La Quinta Land Partners LLC its Authorized Agent BY: Nancy Aaronson, President "Surety" Gulf Insurance Company 110 West A Street Suite 1805 San Diego, CA 92101 BY:10- Ca ine deLorm,�t�toey-in-Fact 2913 S. Pullman Street Santa Ana, California 92705 ulf Insurance Group J AmemberolcNgryWi 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of: Bond No. BE 2623613 effective 141h of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($469,591.00) Four Hundred Sixty Nine Thousand, Five Hundred and Ninety One Dollars, With the Initial Premium amount of ($4,695.91) Four Thousand, Six Hundred Ninety Five Dollars and Ninety -One Cents. TO: Bond Amount of ($485,784.00) Four Hundred Eighty Five Thousand, Seven Hundred and Eighty Four Dollars. With the initial Premium amount of ($4,857.84) Four Thousand, Eight Hundred Fifty Seven Dollars and Eighty -Four Cents. Said Bond shall be subject to all terms, conditions, and limitations; except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th of September, 2001. GU NSURANCE COM��NY r / ' C rine deLorm, A ey-in-Fact BOND NO. BE 2623613 Initial Premium: $4,695.91 SUBJECT TO RENEWAL SUBDIVISION PERFORMANCE BOND Perimeter Landscape (Off -Site) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Four Hundred, Sixty Nine Thousand, Five Hundred, Ninety one ($469,591.00) ***Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2"d day of July, 2001. This bond becomes effective: 14th of September, 2001. "Principal" "Surety" NRI-CCP I, LLC A Delaware limited liability company by La Quinta Land Partners LLC its Athorized Agent BY L. Q Nancy Aarons , President (!� Gulf Insurance Company 110 West A Street Suite 1805 San D'ego, CA 92101 1 BY: Cath 'ne deLorm, A o y-in-Fact, 2913 S. Pullman Street Santa Ana, California 92705 BOND NO. BE 2623613 Premium Included with Performance Bond SUBJECT TO RENEWAL SUBDIVISION LABOR and MATERIALS BOND Perimeter Landscape (Off -Site) KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Four Hundred, Sixty Nine Thousand, Five Hundred, Ninety one ($469,591.00) ***Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2"d day of July, 2001. This bond becomes effective: 14th of September, 2001. "Principal" NRI-CCP I, LLC A Delaware limited liability company by La Quinta Land Partners LLC its Authorized gent BY: lA Nancy AaropsgA, President "Surety" Gulf Insurance Company 110 West A Street Suite 1805 San Diego, CA 92101 BY: f rine deLo A,tI6 rney-in-Fact 2913 S. Pullman Street Santa Ana, California 92705 � Insurance up., Amemberof 6bgrpup 110 West "A" Street, Ste. 1805, San Diego, CA 92101 BOND RIDER To be attached to and form a part of: Bond No. BE 2623614 effective 14th of September, 2001, NRI-CCP, LLC a Delaware limited liability company, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City if La Quinta, CA, as Obligee. It is understood and agreed that the Bond is changed or revised in the particulars as indicated below: FROM: Bond Amount of ($72,500.00) Seventy Two Thousand, Five Hundred Dollars, With the Initial Premium amount of ($725.00) Seven Hundred and Twenty Five Dollars. TO: Bond Amount of ($75,000.00) Seventy Five Thousand Dollars. With the initial Premium amount of ($750.00) Seven Hundred Fifty Dollars. Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified. This Bond Rider shall become effective: 09/14/01. IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto affixed this 24th of September, 2001. GU INSURANCE MPANY Brine deLorm ttorney-in-,act BOND NO. BE 2623614 Initial Premium: $725.00 SUBJECT TO RENEWAL SUBDIVISION PERFORMANCE BOND Monumentation KNOW BY ALL MEN BY THESE PRESENTS: That we, NRI-CCP I, LLC a Delaware limited liability company, as Principal, and, Gulf Insurance Company, a corporation organized and doing business under and by virtue of the laws of the State of Missouri and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Seventy Two Thousand, Five Hundred ($72,500.00)***Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the above named Principal, as a condition of the filing of the Tract Map No. 29894-2 entered into an agreement or agreements with said Obligee to complete the improvements specified in said agreement or agreements. NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized Attorney —in- Fact at Santa Ana, California this 2"d day of July, 2001. This bond becomes effective: 14th of September, 2001. "Principal" NRI-CCP I, LLC "Surety" Gulf Insurance Company 110 West A Street A Delaware limited liability company Suite 1805 by La Quinta Land Partners LLC San go, CA 92101 its Authorized Agent BY: BY: Cath 'ne deLorm, Attorn -Fact Nancy Aaron on President 2913 S. Pullman Street Santa Ana, California 92705 -= WSTAN DING BOND REPORT Name: NRI-CCPI (Country Club of the Desert) Tract No. 29894-2 Date of Contract: June 15, 2001 Required Bond Amounts: Grading Streets (on -site) $ 590,000 Performance/labor Drainage (on -site) $ 2,169,524 $ 258,800 same Water (on -site) $1,535,150 same Sewer (on -site) $ 930,075 same Dry Utility/Elect. (on -site) $ 355,834 same Streets (off -site) $ 818,105 same Traffic Signals Jefferson St. (participatory) $ 225,000 same Performance only Dry Utilities (off -site) $ $ 155,000 performance only Water (off -site) 543,616 performance/labor Perimeter wall (off -site) $ $ 986,300 802,200 same Perimeter landscape (off -site) $ 323,856 same Monumentation Engineering & Plans $ 50,000 same performance only No -Plans Contingency y enc $1,948,692 $2,923,038 same same Dates of Bond Reductions: Outstanding Bonds: Amount: $ 885,000(rider) Bond No. Date Cancelled/Released: BE2623601 $ 855,500 same $ 388,200 BE2623602 $ 375,260(rider) same $3,254,286(rider) BE2623603 $3,145,810 same $2,302,725(rider) BE2623604 $ 2,225,968 same $1,395,113(rider) BE2623605 $1,348,609 same $ 533,751(rider) BE2623606 $ 515,959 same $1,227,158(rider) BE2623607 $1,186,252 same $ 337,500(rider) BE2623608 $ 232,500(rider) BE2623609 $ 815,424(rider) BE2623610 $ 788,243 same $ 1,479,450 (rider) BE2623611 $1,430,135 same $1,203,300(rider) BE2623612 $1,163,190 same $ 485,784(rider) BE2623613 $ 469,591 same $ 75,000(rider) BE2623614 October 4, 2001 Notes regarding my conversation with James Lindsey as to why the total bond amount is higher than required and why the individual bond amounts do not match the requirements on Exhibit A of the Subdivision Improvement Agreement. According to James, the developer distributed the Engineering & Plans 20% cost and the No -Plans Contingency 25 % cost throughout all of the bonds with seemingly no particular method. After James reviewed the bonds he informed the developer that riders were needed to correct some of the amounts. In so doing, the developer is overpaid by $4,191,558 in total bond amounts. I suggested when any reductions are made that the developer be asked to provide new bonds or riders according to the right amounts for each required bond in order for any replacement bonds for reductions to be easily traced.