21643 Landmark Land 89CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
,z.vdr THIS AGREEMENT, made and entered into this _day of
19 E9 , by and between Landmark Land Company of Ca Inc ,
hereinafter referred to as "SUBDIVIDER", AND CITY OF LA QUINTA, a
municipal corporation of the State of California, hereinafter
referred to as "CITY".
WHEREAS, the Subdivider has prepared and filed a final
subdivision map of Tract No. 21643 in the City of La Quinta
County of Riverside, for approval by the City; and
WHEREAS, as a condition precedent to the approval of said map by
City, Subdivider is required to offer dedication of those parcels of
land intended for streets, highways, and other public use, and also
to construct and install or agree to construct and install certain
improvements on said dedicated parcels; and
WHEREAS, Subdivider, by said map, has offered for dedication to
City for public use certain streets and easements shown on said map;
and
WHEREAS, 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 improvements has been estimated
by the City Engineer to be approximately N./A 0 Zero Dollars;
and
WHEREAS, Subdivider, by said map, has proposed to utilize
certain parcels of land for private streets, and also to construct
and install or agree to construct and install certain improvements;
and
WHEREAS, even though said private streets shall not be dedicated
to City for public use, City desires to insure that said streets are
constructed to the same standards and specifications required by City
for public streets; and
WHEREAS, the total cost of such improvements has been estimated
by the City Engineer to be approximately N/A 0 Zero Dollars;
NOW, THEREFORE, IT IS AGREED by and between the parties thereto
as follows:
1. Subdivider, at this sole cost and expense, shall construct
and install the street, drainage, domestic water, sanitary sewer and
other improvements required to be constructed 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
"Improvement Plans for Tract No. 21643 it. 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
N/A 0 Zero Dollars to assure the faithful performance of
this Agreement, and one security to be in the sum of N/A 0 Zero
Dollars to assure payment of the cost of labor and materials for the
improvements required to be constructed or installed hereby.
Subdivision Improvement Agreement
Page 2
3. Before final approval of the street improvements, the
Subdivider will place survey monuments in accordance with the
provisions of the State Subdivision Map Act and the Subdivision
Ordinance of the City of La Quinta as shown on the Tract Map.
The Subdivider, after setting the monuments, shall furnish the
City Engineer of the City of La Quinta, written notice of the setting
of said monuments and written proof of having paid the engineer or
surveyor for the setting of said monuments, or as provided for in the
Subdivision Map Act.
4. In accordance with the terms of said subdivision regulation
aforesaid, the Subdivider does hereby agree to furnish a secur-�ty
satisfactory in form and substance to the City Attorney in the amount
of $109000.00 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 constructed and installed by Subdivider, and if
determined to be in accordance with the applicable city standards,
shall recommend the acceptance of such improvements by the City.
6. Subdivider shall complete such improvement plans including
any corrections and revisions thereto necessary to comply with the
applicable City standards as determined by the City Engineer, within
thirty (30) days after approval of the final map.
7. Subdivider hereby guarantees such improvements for a period
of one year following the completion by Subdivider, and acceptance by
City, against any defective work or labor done, or defective
materials furnished, in the performance of this Subdivision
Improvement Agreement by Subdivider and shall repair or replace any
such defective work or materials subsequently discovered.
8. Subdivider shall commence the construction and installation
of such improvements within ninety (90) days from the approval of
such "Improvement Plans" for Tract No. 21643 by the City
Engineer, and shall complete such construction and installations
within eighteen (18) months from such date of commencement.
9. The labor and material security required herein at Item No.
2 herein shall be retained by the City for one (1) year to support
the guarantee of the improvements by the Subdivider as required by
Item No. 7 herein.
10. Ten percent (10%) of the performance security required by
Item No. 2 herein shall be retained by the City for one (1) year to
support the guarantee of the improvements by the Subdivider as
required by Item No. 7 herein.
11. Subdivider also agrees, at his sole cost and expense, to
construct and install to the standards and specifications required by
the City, the Private Streets as shown on the aforementioned
"Improvement Plans" for Tract No. 21643 .
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
$ N/A 0 Zero Dollars to assure the faithful performance of this
Agreement with respect to said Private Streets, and one security to
be in the sum of $ N/A 0 Zero Dollars to assure payment of the
cost of labor and materials for the Private Streets required to be
constructed hereby.
13. The City Engineer or his duly authorized representative,
upon written request of Subdivider, shall inspect the Private Streets
herein agreed to be constructed by Subdivider, and determine if said
Private Streets have been constructed in compliance with the
standards and specification required by City for public streets.
Subdivision Improvement Agreement
Page 3
14. Subdivider hereby guarantees said Private Streets for a
period of one year following the completion by Subdivider, and
approval by City Engineer, against any defective work or labor done,
or defective materials furnished, in the performance of this
Subdivision Improvement Agreement by Subdivider and shall repair or
replace any such defective work or materials subsequently discovered.
15. Subdivider shall commence the construction and installation
of said Private Streets within ninety (90) days from the approval of
such "Improvement Plans" for Tract No. 21643 by the City
Engineer, and shall complete such construction and installations
within eighteen (18) months from such date of commencement;
provided, that Subdivider shall have the option at its sole
discretion to extend the completion period described herein past the
eighteen (18) months time period to any future date said Subdivider
may select. It is understood, however, that as a condition
precedent to extending the aforementioned completion period,
Subdivider shall furnish the City the securitites described in Item
No. 12 herein covering any extended completion period selected by
Subdivider pursuant to this paragraph. The amount of said
securities to be furnished to City pursuant to this paragraph shall
be sufficient to insure the performance of additional work to
complete, after taking into account work already performed, the
aforementioned Private Streets. Said securities amount to insure
completion shall be determined by City's engineer.
16. The labor and material security required herein at Item No.
12 shall be retained to secure payment to the contractor, his
subcontractors, and to persons renting equipment or furnishing labor
or materials for six (6) months after completion and approval of the
work provided at Item No. 11 herein by the City Engineer.
17. Ten percent (10%) of the performance security required by
Item No. 12 herein shall be retained by the City for one (1) year to
support the guarantee of the improvements by the Subdivider as
required by Item No. 15 herein.
18. In the event that Subdivider fails to perform any
obligation hereunder, Subdivider authorized City to perform such
obligation sixty (60) days after mailing written Notice of Default to
Subdivider at the address given below, and agrees to pay the entire
cost of such performance by City.
19. In the event that Subdivider fails to perform any obligation
hereunder, Subdivider agrees to pay all costs and expenses incurred
by City in securing performance of such obligations, including costs
of suit and reasonable attorney's fees. In the event that Subdivider
is unable to perform within the time limits herein due to causes
beyond his control, such as strikes, acts of God, etc., all time
limits will be extended by the same amount of time as caused by such
delay.
20..Subdivider hereby binds itself, its executors, administrators
and assigns, and agrees to indemnity, detend and hold the City
harmless from any losses, claims, demands, actions or causes of
action of any nature whatsoever, arising out of or in any way
connected with the improvements agreed to be constructed and
installed hereunder by the Subdivider, including costs of suit and
reasonable attorney's fees.
Subdivision Improvement Agreement
Page 4
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the day and year first written above.
CITY OF LA QUINTA
By: M 4 k�
Ronald L. Kiedrowski
City Manager
ATTEST:
'ty Clerk
SUBDIVIDER:
By.
By:
Sub scri ed and Sworn to before me
this day of /%aif�OFF� SEAL
IAL
19 SHERRIE A. BROOKS
Notary Pt"W-CW fomia
RJVEA.SIDE COUNTY
Seal of Notary _ IMyComm. Exp. June ,1,,9so
REVIEWED AND APPROVED _4
ineer
4 rl-->-7-
Date
Name of Issuer:
OAK TREE SAVINGS BANK
233 Carondelet Street
New Orleans, LA 70130
Date and Place of issue:
April 21, 1989
New Orleans, Louisiana
Applicant:
Landmark Land Co. of California, Inc.
P.O. Box 1000
La Quinta, CA 92253
IRREVOCABLE DOCUMENTARY
LETTER OF CREDIT
NUMBER: 1189
Date and Place of Expiry:
April 21, 1990
New Orleans, Louisiana
seneiiciary:
City of La Quinta
P.O. Box 1504
La Quinta, CA 92253
Amount: $10,000.00
A ^ L' * e% 0% ,P% N\ 1 Y $
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We hereby issue in your favor our irrevocable credit for the account of
Applicant, which is available for payment by your draft(s) at sight on Oak
Tree Savings Bank, 233 Carondelet Street, New Orleans, Louisiana 70130,
accompanied by the following documents:
Written statement, signed by the City Manager of Beneficiary, stating that Applicant has
failed to install survey monuments required by Beneficiary in connection with Tract No.
21643 (PGA WEST).
Notwithstanding anything contained herein to the contrary, this Irrevocable Documentary
Letter of Credit shall expire upon the earlier of (a) April 21, 1990, and (b) the
acceptance by Beneficiary of the above -mentioned survey monuments.
Special Conditions:
All drafts must be marked:
"Drawn under Oaf: Tree Savings Bank
Irrevocable Documentary Letter of Credit No. 1189
We engage with you that drafts drawn under and in conformity with the terms
of this credit will be duly honored on presentation if presented by you at
our office address above on or before the Expiry Date. The original of
this Irrevocable Documentary Letter of Credit must accompany the documents
required under this credit.
This credit is subject to the Uniform Customs and Practices for Documentary
Credits, 1983 Revision, International Chamber of Commerce Publication No.
400.
Authorized Sign re
OUTSTANDING BOND REPORT
Name: Landmark Land Company of California, Inc.
Tract No. 21643
Date of Contract: June 7, 1989
Required Bond Amounts:
$ 10,000 - monuments
Dates of Bond Reductions:
Outstanding Bonds:
Amount: Bond N
$ 10,000 LOC #1 189
NOTE: Expiry Date on LOC is 4/21 /90 (?)
Date Cancelled/Released•