24890-3 JM Peters 90CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
of April
III
THIS AGREEMENT, made and entered into this Jftli— day
19 90 , by and between J.M. Peters Company, Inc.
hereinafter referred to as "SUBDIVIDER", AND CITY OF LA QUINTA, a
municipal corporation of the State of California, hereinafter
referred to as "CITY".
WITNESSETH:
WHEREAS, the Subdivider has prepared and filed a final
subdivision map of Tract No. 24890-3 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, City desires to accept the streets and easements
shown on said map for public use, and certain other such
improvements; 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 $-0- 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 $270,574.00
Dollars;
NOW, THEREFORE, IT IS AGREED by and between the parties
thereto as follows:
1. Subdivider, at his sole cost and expense, shall
construct and install the street, drainage,landscaping, 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.24890-311; 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.
SUBDIVISION IMPROVEMENT AGREEMENT - Tract 24890-3
Page 2
2. Subdivider shall furnish to City securities
satisfactory in form and substance to City Attorney executed by a
corporation authorized to transact surety business in the State of
California, one class security to be in the aggregate sum of
$486,980.00 dollars to assure the faithful performance of this
Agreement, said security class hereinafter referred to as
"Performance Bond(s)", and one security to be in the aggregate sum
of $240,990.00dollars to assure the payment of the cost of labor
and materials supplied to construct the required improvements, said
security class hereinafter referred to as "Payment Bonds)".
All securities furnished pursuant to this Agreement shall be
furnished in amounts commensurate with the estimated value of the
various improvement items set forth in Exhibit 'A' which is attached
hereto and made apart hereof. Subdivider shall furnish a minimum of
two (2 ) separate Performance Bonds and a minimum of one
(1)separate Payment Bonds as identified by the respective Bond
Groups shown in Exhibit W.
3. DELETED
4. Portions of the improvements required herein for Tract
No. 24890-3 may be deferred to later date subject to the approval
of the City as hereinafter set forth on the attached Exhibit W. In
any event any deferred security shall be furnished to City prior to
the approval and recordation of Map for Tract No. 24890-3.
5. Subdivider shall commence the construction and
installation of said improvements within ninety (90) days from the
approval of such "Improvement Plans" for Tract No. 24890-3 by the
City Engineer, and shall complete the construction of said
improvements within eighteen (18) months from the date of
commencement. Subdivider may at its sole discretion extend the
completion period described herein past the eighteen (18) months time
period to any future date that Subdivider may select. It is
understood, however, that a condition precedent to extending the
completion period, Subdivider shall furnish to City securities
similar in form and substance to those required by Article 2 herein
to cover the extended completion period selected by Subdivider. The
value of said securities shall be sufficient to insure the
performance of improvement work that remains incomplete at the time
of said time extension. The security posting amount shall be
determined by the City Engineer.
6. 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.
After the monuments are set, Subdivider shall furnish to the City
Engineer written notice that the monuments have been set, and written
proof that the engineer or surveyor has been paid for setting the
monuments, or as otherwise provided in the Subdivision Map Act.
7. The City Engineer or his duly authorized
representative, upon written request of Subdivider, shall inspect the
improvements herein agreed to be con�?tructed 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.
SUBDIVISION IMPROVEMENT AGREEMENT - Tract 24890-3
Page 3
8. The City Engineer, or his duly authorized
representative, upon written request of Subdivider, shall inspect the
Streets herein agreed to be constructed by Subdivider, and determine
if said Streets have been constructed in compliance with the
standards and specifications required by City for public streets.
9. Subdivider shall complete such improvements 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.
10. 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.
11. The labor and material security required by Article 2
herein shall be retained to secure payment to the contractor, his
subcontractors and to persons renting equipment or furnishing labor
and materials for six (6) months after completion and approval of the
work required by Article 1 herein.
12. Ten percent (10%) of the performance security required
by Article 2 herein shall be retained by the City for one (1) year to
support the guarantee of the improvements required herein.
13. In the event that the Subdivider fails to perform any
obligation hereunder within sixty (60) days after the City has mailed
written Notice of Default to the Subdivider at the address given
below, the Subdivider authorizes City to perform such obligation and
agrees to pay the entire cost of such performance by City.
14. 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.
15. Subdivider hereby binds itself, its executors,
administrators and assigns, and agrees to indemnify, defend and hold
the City harmless of 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 hereinunder in the
construction of the improvements agreed to be constructed and
installed hereunder by the Subdivider, including costs of suit and
reasonable attorney's fees.
*********************************************************************
SUBDIVISION IMPROVEMENT AGREEMENT - Tract 24890-3
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
. A��- - 4- A-UA
By: Ronald L. Kiedrowski
City Manager
ATr
SUl
By
By
Subscribed and Sworn to before me this
19 90 .
Seal
• OFFICIAL SEAL
~LINDA A. CHANDLER
• NOTARY PU6LN-CAIJFORNIA
• PRINCIPAL OFFICE IN
SAN OIEGO COUNTY
,. Mr COWMM E* No & 1"2
REVIEWED AND APPROVED
Cit
r
Address: 12526 High Bluff Dr., Ste. 280
San Diego, CA 92130
4th day of
April
SUBDIVISION IMPROVEMENT AGREEMENT - Tract 24890-3
Page 5
EXHIBIT ' A' - ,
The following improvements are designated by Bond Groups to permit
the phasing of the required improvements together with the required
securities:
Bond Groups No. 1, No. 2, and No. 3; the Subdivider
shall provide Performance Bonds and Payment Bonds prior to
the approval and recordation of Map for Tract No. 24890-3
Improvements are to be accomplished solely at the expense
of the Subdivider and to be completed within eighteen (18)
months as herein provided in this Agreement.
SUBDIVISION IMPROVEMENT AGREEMENT-24890-3
Page 6
BOND IMPROVEMENT DESCRIPTION PERFORMANCE PAYMENT
GROUP BOND BOND
1
On -site streets and Drainage $ 270,574
135,287
Improvements
2
Sanitary sewer facilities
103,010
510,505
Domestic water facilities
108,396
54,198
3
Survey monuments
5,000-"
-0-
Each improvement item listed hereon
may be bonded
individually, or
bonded
collectively with other
improvements with
a single bond,
provided however, that improvements
which are grouped together and
bonded
with a single bond are correspondingly
identified
in the 'Bond
Group'
column as being of the same
group.
Performance
Payment
Bond
Bond
Bond Group 1 - Totals =
$ 270,574
135,287
Bond Group 2 - Totals =
211,406
105,703
Bond Group 3 - Totals =
5,000
-0-
GRAND TOTALS =
$ 486,980
240,990
a
fM
OUTSTANDING BOND REPORT
Name: J.M. Peters Company
Tract No. 24890-3
Date of Contract: April 17, 1990
Required Bond Amounts:
$270,574 -
$135,287 -
$103,010 -
$ 51,505 -
$108,396 -
$ 54,198 -
$ 5,000 -
on -site streets/drainage
labor
sewer
labor
water
labor
monument
Dates of Bond Reductions:
Outstanding Bonds:
Amount:
$ 5,000
$481,980
$240,990
$ 48,198
Bond No. Date Cancelled/Released:
3SM 757 368 00�..�Q.Q.sea 8ja�a
3SM 757 201 00 Released 7/3/2000
3SM 757 201 00cS►era.,s�a
3SM 757 201 00