21381-1 Sunrise LQ 86CITY OF LA QUINTA
THIS AGREEMERr, made and entered into this. dayof
1 9f-4 9
by and between SUNRISE LA QUINTA COMPANY Irv=
and CITY OF L A QUINTA , a �unici 1 corporation referred • to as "StJBDIv1DEi�* �
* ,� Pa rpo of the State of California, herein-
after referred to as "CITY".
I'H •
WAS, the Subdivider has prepared and filed a final subdivision map of Tract
vial City; 213 81-1 in the C i ty 0 f L a Q u i n t a , County of Riverside , - for appro-
and
WHEYMAS, as a condition precedent to the approval of said map by City, Subdivi-
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
WHMMAS, Subdivider, by said map, has offered for dedication to City for public
use certain streets and easements shown on said map; and
WHM AS, City desires to'_ accept the streets and easements sirnm on said map for
Public use, and certain other such .improvements; and
VMCEAS, 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 certainprovenents; and
WOEAS, the total cost of such improvements has been estimated by the City
Engineer to be approximately - 0 - Dollars; and
MUMAS, 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 Jmprove nts; &v*id
VMWS, 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
WHUMAS, the total cost of such improvements has been estimated by the City
Engineer to be approximately $ 5 61, 8 4 0.0 0 Dollars;
Ida j�w,, IT IS AGREED by and between the parties hereto as follows:
1. Subdivider, at his sole cost and expense, shall construct and install
street, drainage, domestic water, sanitarythe
be constructed or agreed to be constructed a�,s�a condition r �rove�rnnts required to
of said final and acne precedent to the approval
acceptance of such streets and easements, as shown on the "Im-
PrOverrient Plans for Tract No.__ 2 1g 1-1 "; a copy of which is now on file in
the office of the City EnQineer 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 $ 5 61, 8 4 0.0 0 Dollars to assure the faithful performance of this Agree-
ment, and one security to be in the sum of included in aboyDollars 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 inprovements, the Subdivider will place
survey monuments in accordance with the provisions of the State Subdivision Map Act
end the Suodivision Ordinance of the City of La Quints as shown on the Tract Map.
The Subdivider, after setting the monuments, shall furnish the City Engineer of
the City of La Q u i n t a written notice of the settingof said mom
P=�i Of having monuments and written
paid the .engineer or surveyor for the setting of said monuments, or
as prc•. id,, d for in the Subdivision Nap Act.
Subdi'.►ision irrpro enent. Agr effv.1'L
Pam s
4. In acoordanoe 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 wtmmt of $ included in $ 5 61, 8 4 0.00, Dollars 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 am-
stncted and installed by Subdivider, and if determined to be in accordance with
the applicable City standards, shall reoocrmend the a�eptanoe of such improvements
by the City.
6. Subdivider shall catplete such inproverent plans including any corrections
and revisions thereto necessary to earply with the applicable City standards as
determined by the City Engineer, within thixty (30) days after approval of the
f inal map.
7. Subdivider shall guarantee such improvements for a period of one year
following the cat letion by Subdivider, and acceptanoe by City, against any
defective work or labor done, or defective materials furnished, in the performance
of this Subdivision Inprovenent 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
inprovements within ninety (90) clays from the approval of such "Improvement Plans"
for Tract No. 213 81-1 by the City Engineer, and shall complete such
amstruction and installations within eighteen (18) months fiat such date of
t.
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 com-
pletion and acoeptance of the work provided at Item No. 1 herein by the City.
l0. 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 iuprovements 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 "Inprove ent Plans" for Tract No. 213 81-1
12. Subdivider shall furnish to City a security satisfactory in fora and
substance to the City Attorney executed by a corporation authorized to
surety business in the State of California on forms approved by the City, one
security to be in the suet of $ 561F840.00 Dollars to assure the faithful
performance of this Agreement with respect to said Private Streets, and one
wit, to be in the sun of $ included in above Dollars to assure payment of
the cost of labor and materials for the Private Streets required to be constructed
hereby.
13. The City Engineer or his duly authorized representative, upon written
request of Subdivider, shall inspect the Private Streets herein agreed to be
constructed, by Subdivider, and determine if said Private Streets have been con-
structed in cmpli.anoe 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 done,, or defective materials furnished, in the performance
- of this Subdivision Improver nt Agreement by Subdivider and shall repair or replace
any such defective work or materials discovered during said one year period.
15. Subdivider shall eonnence the construction and installation of said
Private Streets within ninety (90) days fram the approval of such "Improvement Plans"
for Tract No. 213 81-1 by the City Engineer, and shall complete such construction
and installations within eighteen (18) months from such date of eacmence-ment; 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
60ubdivision Impnaven�ent Agreement
.Pare 2
period to any future date said Subdivider may select. It is understood, however, that
as a condition precedent to extending the aforementioned completion period, Subdivider
shall furnish to City the securities described in Item No. 12 herein covering any
extended oat I tion period selected by Subdivider pursuant to this paragraph. The
atrount 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 cxxt I tion
and approval of the work provided at Itern 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
inprav► ments by the Subdivider as required by Item No. 15 herein. _
18. In the event that Subdivider fails to perform any obligation hereunder,
Subdivider authorizes City to perform such obligation sixty (60) days after mailing
v:.: ;.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. -
fotntianee 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 indennify, defend and hold the City hanrdess from any losses, claims,
�, actions or causes of action of any nature whatsoever, arising out of or in
any way eonrrBicted with the improvements agreed to be constructed and installed
hereunder by the Stiibdivider, including costs of suit and reasonable attorney s fees.
IN WITNESS MUMF, the parties hereto have executed this Agreement as of the
day and year first above written.
CITY OF LA_ QUINTA
By:
Frank M. Usher, City
By:
Ann Jennings,; Ci Clerk
SUNRISE LA QUINTA COMPANY
a Limited Partnership
SIBD=ER By: NATIONAL MORTGAGE & LAND
COMPANY, a California
Corporation, General Ptnr
Phillip Smith, Jr.
Executive V.P.
By:
APP ,,. Date
City Engineer
OUTSTANDING BOND REPORT
Name: Sunrise La Quinta
Tract No. 21381-1
Date of Contract: May 6, 1986
Required Bond Amounts:
$ 561,840
Dates of Bond Reductions:
July, 1990 - reduced to $ 25,000
Outstanding Bonds:
Amount: Bond No.
$ 561,840 Great Western-LOC
$ 561,840 SPNB-LOC
$ 25,000 #3SM77614400
Date Cancelled/Released:
Cancelled April, 1989
No Cancellation Letter
Released 8/26/96
$ 12,500 #3SM77614400 Released 8/26/96