21120 LQ Joint Venture 86CITY OF LA QUINTA
Ago
SUBDIVISION
THIS AGREEMENT, made and entered into this. 17 th day of June ,19 86
by and been LA OUMTA To rnrt'MU211M . , hereinafter referred to as "IVIDER SUBD" ,
and CITY OF L A QUINTA , a municipal corporation of the State of California, herein-
after referred to as "CITY".
W EREAS , the Subdivider has prepared and filed a f inal subdivision map of Tract
No. 21120 in the C i t
val W City; and y 0 f L a Q u i n t a County of Riverside', - for appro-
WHEREAS, as a condition precedent to the approval of said map by City, Si ivi-
der is required to offer for dedication those parcels of land intended for streets,
highways and other public use, and also to construct and install or agree to construct
and install certain improvements on said dedicated parcels; and
W'K MAIS, Subdivider, by said map, has offered for dedication to City for public
use certain streets and easerr nts shown on said map; and
wHEFEAS, City desires to* accept the streets and easements shown on said map for
public use, and certain other such inputs; and
'AS, as a condition precedent to the acceptance of the dedication of such
streets and easements by City; Subdivider is required to enter into an agreement
with the City to construct certain improvements; and
WHEREAS, the total cost of such inprovesnents has been estimated by the City
Engineer to be approximately - 0 - Dollars; and
M REAS, Subdivider by said map has proposed to utilize certain parcels of land
for private streets, and also to construct and install or agree to construct and in-
stall certain improvements; and
WHEREAS, Subdivider by said map has not offered for dedication to the City for
public use the aforementioned private streets; and
WHEREAS, even though said private streets shall not be dedicated to City for
public use, City desires to insure that said streets are constructed to the same
standards and specifications required by City for public streets; and
WMEtEA,S, the total cost of such improvements has been estimated by the City
Engineer to be approximately $ 4 3 2, 0 0 0 Dollars;
NOW TFIEREFF IT IS AGREED by and between the parties hereto as follows:
1. Subdivider, at his sole cost and expense, shall construct and install the
street, drainage, domestic water, sanitary sewer and other improvements required red to
be constricted or agreed to be constructed as a condition precedent to the approval
of said final map and acceptance of such streets and easements, as shown on the "Im-
provement Plans for Tract No. 21120 a copy of which is now on file in
the office of the City Engineer of the City and which is referred to and incorporated
herein as though set forth in full.
2. Subdivider shall furnish to City a security satisfactory in form and substance
to City Attorney executed by a corporation authorized to transact surety business in
the State of California on forms approved by the City, one security to be in the sum
Of 8 4 3 2 , 0 0 0 Dollars to assure the faithful performance of this Agree-
ment, and one security to be in the sum of $ 4 3 2 , 0 0 0 Dollars to assure payment
of the cost of the labor and materials for the improvements required to be constructed
or installed hereby.
3. Before final approval of the street improvements, the Subdivider will pla�oe
survey monuments in accordance with the provisions of the State Subdivision Map Act
and the Subdivision Ordinance of the City of is Quinta as shown on the Tract Map.
The Subdivider, after setting the mronuments, shall furnish the City Engineer of
the C i t y o f L a Q u i n t a., written notice of the setting of said monuments and written
proot of having paid the .engineer or surveyor for the setting of said monuments, or
as pro•.. ided for in tl-ie Subdivision Nap Act.
s bdk.?islon Improvement Agreeffmt
Page k
4. In accordance with the terms of . said subdivision regulation aforesaid,
the Subdivider does hereby agree to furnish a security satisfactory in form and
_ substance to the City Attorney in the amount of $ 5 , 0 0 0 _ Dolla s to
guarantee payment of the cost of setting monuments as stated in Item No. 3 of
this agreement.
5. The City Engineer or his duly.authorized representative, upon written
request of Subdivider, shall inspect the improvements herein agreed to be con-
structed and installed by Subdividers, and if de to be such with
the applicable City standards, comm
shall recommend the acceptance o c
inp
by the City.
6. Subdivider shall complete such inProvement plans including any corrections
and revisions thereto necessary to comply with the applicable City standards as
determined by the City Engineer, within thirty (30) days after approval of the
f inal map.
7. Subdivider shall guarantee such improve9ments for a period of one year
following the completion by Subdivider, and acceptance by City, against any
defective work or labor done, or defective materials furnished, in the performance
of this Subdivision Improvement Agreement by Subdivider and shall repair or replace
any such defective work or materials discovered during said one year period.
8. Subdivider shall commence the construction and installation of such "
improvements within ninety (90) days from the approval of such Improvement Plans
for Tract No. 21120 by the City Engineer, and shall complete such
construction and installations within eighteen (18) months fram such date of
comtencerent.
9. The labor and material security required herein at Item No. 2 shall be
retained to secure payment to the Contractor, his subcontractors, and to persons
renting equipment or furnishing labor or materials for six (6) months after comn-
pletion and acceptance of the work provided at Item No. 1 herein by the City.
10. Fifteen percent (15%) of the performance security required by Item No. 2
herein shall be retained by the City for one (1) year to support the guarantee of
the improvements by the Subdivider as required by Item No. 7 herein.
11. Subdivider also agrees, at his sole cost and expense, to construct and
install .to the standards and specifications required by the City, the Private
Streets as shown on the aforementioned "Improvement Plans" for Tract No. 2112 0
12. Subdivider shall furnish to City a security satisfactory in form and
substance to the City Attorney executed by a corporation authorized to transact
surety business in the State of California on forms approved by the City, one
security to be in the sum of $ 432,000 Dollars to assure the faithful
performance of this Agreement with respect to said Private Streets, rand one of
of
security to be in the sum of $ 4 3 2, 0 0 0 Dollars payment
the cost of labor and materials for the Private Streets required to be constructed
hereby.
13. The. City Engineer or his duly authorized representative, upon written
request of Subdivider, shall inspect the Private Streets herein agreed to be
constructed by Subdivider, and determine if said Private Streets have been con-
structed in compliance with the standards and specifications required by City
for public . streets .
14. Subdivider shall guarantee said Private Streets for a period of one year
following the completion by Subdivider, and approval by City Entineer, against any
defective work or labor cone, or defective materials furnished, in the performance
- of this Subdivision Improvement Agreement by Subdivider and shall repair or replace
any such defective work or materials discovered during said one year period.
15. Subdivider shall commence the construction and installation of said
Private Streets within ninety (90) days fran the approval of such Inprovenent Plans"
for Tract No. 21120 by the City Engineer, and shall carplete such constriction
and installations within eighteen (18) months fromsuch date of comTencements Pro-
vided, however, that Subdivider shall have the option at its sole discretion to
extend the completion period described herein past the eighteen (18) months time
�;xiivision IrYproveffent Agreement
Page 2
period to any future date said Subdivider may select. It is understood, Swe%w, that
as a condition precedent to extending the aforementioned completion period, Subdivider
shall furnish to City the securities described in Item No. 12 herein covering any
extended completion period selected by Subdivider pursuant to this paragraph. The
amount of said securities to be furnished to City pursuant to this paragraph shall
be sufficient to insure the performance of additional work to complete,, after taking
into account work already performed, the aforementioned Private Streets. Said
securities amount to insure completion shall be determined by City' s engineer.
16. The labor and material security required herein at Item No.-12 shall be
retained to secure payment to the contractor, his subcontractors, and to persons
renting equipment or furnishing labor or materials for six (6) months after completion
and approval of the work provided at Item No. 11 herein by the City Engineer.
17. Fifteen percent (15%) of the performance security required by Item No. 12
herein shall be retained by the City for one (1) year to support the guarantee of the
improvements by the Subdivider as required by Item No. 15 herein.
18. In the event that Subdivider fails to perform any obligation hereunder,
S,.Lbdivider authorizes City to perform such obligation sixty (60) days after mailing
w:-..;-Len Notice of Default to Subdivider at the address given below, and agrees to
pay the entire cost of such performance by City.
19. In the event that Subdivider fails to perform any obligation hereunder,
Subdivider agrees to pay all costs and expenses incurred by City in securing per-
formance of such obligations, including costs of suit and reasonable attorney s
fees. In the event that Subdivider is unable to perform within the time limits herein
due to causes beyond his control, such as strikes, acts of God, etc., all time limits
will be extended by the same amount of time as caused by such delay.
20. Subdivider hereby binds itself, its executors, administrators and assigns,
and agrees to indemnify, defend and hold the City harmless from any losses, claims,
demands, actions or causes of action of any nature whatsoever, arising out of or in
any way connected with the improvements agreed to be constructed and installed
hereunder by the Subdivider, including costs of suit and reasonable attorney's fees.
IN W'Tt ESS DOF, the parties hereto have executed this Agreement as of the
day and year first above written.
CITY OF LA. QUINTA
Frank M. Usher, City Manager
AMEN •"••A •
MANAGING VENTURER
Title:Sergio S. Alvarez - Vice President
By:
APPAOVID � �L�i' Date
City Engineer
OUTSTANDING BOND REPORT
Name: La Quinta Joint Venture
Tract No. 21120
Date of Contract: June 17, 1986
Required Bond Amounts:
$432,000.
$ 5,000.
Dates of Bond Reductions:
January 21, 1992 - reduced to $24,244.
Outstanding Bonds:
Amount:
$ 242,440
$ 84, 000
$105,600
$ 5,000
$ 24, 244
Bond No.
Date Cancelled/Released:
#ICB011039
Released January 21, 1992
#ECB011040
Released January 7, 1992
#ICB011041
Released January 7, 1992
#ICB011042
Released January 7, 1992
#229534S
should be released 1/93