25429 Chateau Estates 90CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
T�iIS AGREEMENT, made and entered into this I day
ofjr2l,t , 1990, by and between CHATEAU EST ATES
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. 25429 in the City of La Quinta, County
of Riverside, for approval y t� e City; and
WHEREAS, as a condition precendent 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 ; m,.- is has been
estimated by the City Engineer to be approximately $196,000
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 $452,000
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. 25429
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 25429
Page 2
2. Subdivider shall furnish to City Letter of Credit
satisfactory in form and substance to City Attorney executed by a
corporation authorized to transact banking business in the State of
California. One Letter of Credit to be in the aggregate sum of
$340,000 dollars to assure the faithful performance of this Agreement
nor the excavation
_portion thereof. A second Letter of Credit in the
aggregate sum of $1,600.,000 dollars to assure the faithful performance
and payment for the balance of improvements required herein, all as mo
specifically set forth on the attached Exhibit "A'. re
3. Subdivider shall commence the construction and installation of said improvements within ninety (90) days from the
approval of such "Improvement Plans" for Tract No.25429 by th.e
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. Th.e
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.
4. 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
proot that the engineer or surveyor has been paid for setting the
monuments, or as otherwide provided in the Subdivision Map Act.
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. 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 compliances with.the standards
and specifications required by City for public streets.
7. 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 (3G) days after approval of the final map.
8. 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.
9. The labor and material Letter of Credit required by
-art-,2 herein shall be retained to secure payment L.o the contractor,
his subcontractors and to persons renting equipment or furnishing
labor and materials for six (6) months after completion or released
upon proof of payment to contractors whichever is sooner.
10. Ten percent (10a) of the Letter of Credit required
by Article 2 herein shall be retained by the City for one (1) year
to support the guarantee of the improvements required herein.
SUBDIVISION IMPROVEMENT AGREEMENT - TRACT 25429
Page 3
11. In the event that
obligation hereunder within sixty
written Notice of Default to the
below, the Subdivider authorizes
agrees to pay the entire cost of
the Subdivider fails to perform any
(60) days after the City has mailed
Subdivider at the address given
City to perform such obligation and
such performance by City.
12. 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.
13. 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 anyway
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 25429
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 •
Ronald L. Kiedrowski
City Manager
ATTEST:
�4iiityy Cler
SUBDIVIDER:
4 s
BY: Address: - qo
Subscribed an ' s day of, A�
.�MIEFM N JOINSEN
1990.
"iN
�E ooturW
LV CWAL EW MW 14.1000
Seal of Notary
REVIEWED AND APPROVED
ity Eng
Notd,ry Si4nature
4 '3- 90
Date
SUBDIVISION IMPROVEMENT AGREEMENT - Tract 25429
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 or
Letter of Credit prior to the approval and
recordation of Map for Tract No. 25429.
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.
Bond GroupNo. 4; the Subdivider shall provide
Performance Bonds or Letter of Credit prior to the approval
and recordation of Map for Tract No. 25429.
Improvements are to be completed by the Subdivider within
eighteen (18) months as herein provided in this Agreement.
Underground Utilities:
The Subdivider shall bear all costs of removing
aerial electrical and communication lines along
the Subdivider's frontage of Avenue 50 and along
perimeter boundaries of the Subdivision, and for
the construction of all such facilities in under-
ground ducts together with all appurtenant items
and costs incidental thereto.
The Subdivider may, subject to the approval of the
City, enter into cooperative agreement(s) with the
utility companies and/or with others resulting in
said utilities being constructed underground at
the expense of the Subdivider.
Bond Group No. 5;the Subdivider shall provide
Peformance Bonds prior to the approval and recordation
of the Map for Tract No. 25429.
Improvements are deferred for future construction by the
City and/or by means of a cooperative agreement with
others which is subject to the approval of the City.
Construction shall be on an as needed basis as determined
by the City.
Traffic Signals:
The Subdivider shall bear twenty-five (25%) percent
of the cost of traffic signals at the intersection
of Avenue 50 and Adams Street including incidentals.
Upon written demand of the City the Subdivider shall
deposit his share of the estimated cost of traffic
signal improvements with the City.
Median Island(s):
The Subdivider shall bear fifty (50%) percent of the
cost of constructing median traffic island(s) along
the Subdivision frontage of Avenue 50 complete with
curbs/gutters, landscaping and irrigation system(s).
Upon written demand of the City the Subdivider
shall deposit his share of the estimated cost of
the median island improvements with the City.
SUBDIVISION IMPROVEMENT AGREEMENT - 25429
EXRIBIT 'A'
BOND IMPROVEMENT DESCRIPTION BOND AMOUNT
GROUP
(LETTER OF CREDIT)
1 Site Grading (excavation) $340,000
-T
2 On- site- street and Drainage 452 000
Improvements '
Landscaping Drainage Basin and 350,000
Perimeter Lots together with Walls
Off- site street and Drainage 196 000
Improvements '
Survey Monuments I 20,000
3 I Sanitary sewer facilities I 138,200
Domestic water facilities I 218,600
4 1 Underground Utilities along 147 200
Avenue 50 and Tract Perimeter
5 1 Traffic Signals at Avenue 50 25,000
and Park Avenue
Avenue 50 Median (1/2 width 53,000
improved with landscaping and
irrigation)
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.
Bond
Group
1
- Totals =
Bond
Group
2
- Totals =
Bond
Group
3
- Totals =
Bond
Group
4
- Totals =
Bond
Group
5 -
Totals =
Performance/Payment Bond
(Letter of Credit)
$ 340,000
1,018,000
356,800
147,200
78,000
GRAND TOTALS = 1 $lr940,000
C
4
j
OUTSTANDING BOND REPORT
Name: Chateau Estates
Tract No. 25429
Date of Contract: April 3, 1990
Required Bond Amounts:
$ 340,000
- grading
$1,018,000
- streets/drainage/landscaping/monuments
$ 356,800
- sewer/water
$ 147,200
- utilities
$ 78,000
- signals/medians
Dates of Bond Reductions:
Outstanding Bonds:
Amount: Bond No.
$1,600,000 LOC #124637
$ 210,000 LOC # 124637
$ 160,000 206186S
$ 340,000 LOC #103
Date Cancelled/Released:
Replaced on 1 /23/91
Released on 6/14/91
Released on 8/27/90
NOTE: Note on #206186S states that it should've been released on 5/7/92, but no
letter of release in file.