28617 Agiotage Limited 02CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
Parcel Map 28617
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement') is made and entered into this
day of AAA Y , 20 DZ ,
by and between Agiotage LTD, a British Virgin Islands Limited Company hereinafter referred to as "Subdivider,"
and the City of La Quinta, a municipal corporation of the State of California, hereinafter referred to as "City."
RECITALS:
A. Subdivider has prepared and filed a final map or parcel map (the "Map') of a unit of land in the City of
La Quinta, County of Riverside, which unit of land is known as Parcel Map 28617 (the 'Tract') pursuant to the
provisions of Section 66410, et sec. of the California Government Code (the "Subdivision Map Act').
B. Within one year of the recordation of the Map, the Subdivider is required set survey monuments as
shown on the recorded map.
NOW, THEREFORE, it is agreed by and between the parties hereto as follows:
Monumentation Security.
A. Monumentation security shall conform with Section 66499 of the California Government Code and
one of the following:
1) A cash deposit with City or a responsible escrow agent or trust company, at City's option.
B. All securities shall be furnished in accordance with the provisions of Exhibit A. The amount of the
performance security shall equal One Hundred Percent (100%) of the estimated cost of the furnishing and
installing the monuments.
C. Security shall not expire, be reduced or become wholly or partially invalid for any reason, including
non-payment of premiums, modifications of this Agreement and/or expiration of the time for performance stated
in this Agreement, without express authorization from City unless the surety provides City with sixty (60) days
written notice by registered or certified mail, return receipt requested.
D. Security shall be released in the following manner:
1) Performance security shall be released upon the final completion and acceptance or approval,
by the City Council of the Improvements subject to the provisions of paragraph B.
2. Survey Monuments. The Subdivider shall place survey monuments in accordance with the provisions
of Sections 66495, et sec. of the Subdivision Map Act and of the La Quinta Municipal Code. Subdivider shall
provide the City Engineer written proof that the monuments have been set, evidence of payment and receipt
thereof by the engineer or surveyor setting the monuments, and intersection monument tie -outs for monuments
set in public streets.
3. Release of Security. City shall retain and release securities in accordance with the provisions of Section
1 of this agreement. Prior to the release of payment security, the City Engineer may require Subdivider to provide
a title report or other evidence sufficient to show claims of lien, if any, that may affect the amount of payment
security released.
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written
above.
CITY:
Date
ATTEST:
SUBDIVIDER:
By:
Date
Title.
By:
Date
Title:
Reviewed and .A
Approved as to
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
Agiotage LTD.
A British Virgin Islands Limited
Company
(760)320-9811 Attn: Bob Mainiero
S /*9 2,
Date
Date
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Exhibit A
SECURITY - TRACT 28617
Except as otherwise provided herein, Subdivider shall furnish performance security prior to agendization of the
Map for approval by the City Council.
Monumentation security shall guarantee performance of or payment for the work and shall be utilized or released
as specified in Chapter 4, Article 9 of the Subdivision Map Act.
Improvement Description Performance
Monumentation $8,000
Total: $8,000
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