29323 La Quinta Dunes 03OUTSTANDING BOND REPORT
Name: La Quinta Dunes 350, Inc.
Tract No. 29323
Date of Contract: (no contract as of 1 /9/03)
Required Bond Amounts:
Grading (Phase 1) $350,000
Grading (Phase II) $685,636
Dust Control $ 96,250
Dates of Bond Reductions:
Outstanding Bonds and Bond Company: Gulf Insurance
Amount: Bond No.
$ 350,000 B34343033
$ 685,636 B34343034
$ 96,250 B34343032
Performance
Performance
Performance
Date Cancelled/Released:
Bond No. B34343033
Premium: $7,000.00
FAITHFUL PERFORMANCE BOND
(LQMC 8.02.01 & CBC 3311)
Grading Bond
WHEREAS, the City of La Quinta, California, is prepared to issue Encroachment Permit
# 3800 in accordance with the La Quinta Municipal Code, and the California Building Code which is
adopted by reference, to LA QUINTA DUNES 350, INC. , as Principal,
whereby Principal will be authorized to perform certain grading improvements identified in the permit, and
as further detailed on the grading plans referenced therein, to privately -owned property generally known
to the City and others as 'T2A4--T `l_i'.z' ; and
WHEREAS, Said Principal is required under the terms of the permit to furnish a bond for
the faithful performance of the grading work in accordance with the approved plans, specifications, and
permit requirements; or, if the work is abandoned (not completed as required), Principal shall correct or
eliminate any hazardous conditions that may exist.
NOW, therefore, we the Principal and Gulf Insurance Company
as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal
sum of THREE HUNDRED FIFTY THOUSAND and no/100
Dollars ($ 350,000.00 ) lawful money of the United States, for the payment of which sum well and truly to
be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally,
firmly by these presents.
The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors,
administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep
and perform the covenants, conditions and provisions in the said permit and any alteration thereof made
as therein provided, on his or their part, to be kept and performed at the time and in the manner therein
specified, and in all respects according to their true intent and meaning, and shall indemnify and save
harmless the Obligee, its officers, agents and employees, as therein stipulated, then this obligation shall
become null and void; otherwise, it shall be and remain in full force and effect.
As a part of the obligaton secured hereby and in addition to the face amount specified therefor, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred
by the Obligee in successfully enforcing such obligation, all to be taxed as costs and included in any
judgement rendered.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the
terms of the permit or to the work to be performed thereunder or the specifications accompanying the
same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such
change, extension of time, alteration or addition to the terms of the permit or to the work or to the
specifications.
Page 1 of 2
F210-1
Grading Bond
Encroachment Permit # 3800
Page 2 of 2
In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on
January 6th , 2003 .
LA QUINTA DUNES 350, INC.
Princip--
(Seal)
Signatur of Principal
Title of Sign6lbry
Gulf Insurance Company
Surety �
(Seal) Lec c Lt.
ignature of Surety
Richard Adair, Attorney in Fact
Title of Signatory
110 West A Street, Suite 1805, San Diego, Ca 92101
Address of Surety
619-446-2843
Phone # of Surety
Dave Banfer
Contact Person For Surety
F210
Bond No. B34343034
Premium: $13,713.00
FAITHFUL PERFORMANCE BOND
(LQMC 8.02.01 & CBC 3311)
Grading Bond
WHEREAS, the City of La Quinta, California, is prepared to issue Encroachment Permit
# in accordance with the La Quinta Municipal Code, and the California Building Code which is
adopted by reference, to LA QUINTA DUNES 350, INC. as Principal,
whereby Principal will be authorized to perform certain grading improvements identified in the permit, and
as further detailed on the grading plans referenced therein, to privately -owned property generally known
to the City and others as-V-'r-a13�-'� ; and
WHEREAS, Said Principal is required under the terms of the permit to furnish a bond for
the faithful performance of the grading work in accordance with the approved plans, specifications, and
permit requirements; or, if the work is abandoned (not completed as required), Principal shall correct or
eliminate any hazardous conditions that may exist.
NOW, therefore, we the Principal and Gulf Insurance Company
as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal
sum of SIXHUNDREDEIGHTYFIVE THOUSAND SIX HUNDREDTH IRTYSIX and no/100
Dollars ($ 685,636.00 ) lawful money of the United States, for the payment of which sum well and truly to
be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally,
firmly by these presents.
The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors,
administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep
and perform the covenants, conditions and provisions in the said permit and any alteration thereof made
as therein provided, on his or their part, to be kept and performed at the time and in the manner therein
specified, and in all respects according to their true intent and meaning, and shall indemnify and save
harmless the Obligee, its officers, agents and employees, as therein stipulated, then this obligation shall
become null and void; otherwise, it shall be and remain in full force and effect.
As a part of the obligaton secured hereby and in addition to the face amount specified therefor, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred
by the Obligee in successfully enforcing such obligation, all to be taxed as costs and included in any
judgement rendered.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the
terms of the permit or to the work to be performed thereunder or the specifications accompanying the
same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such
change, extension of time, alteration or addition to the terms of the permit or to the work or to the
specifications.
Page 1 of 2
F210-1
Grading Bond
Encroachment Permit #
Page 2 of 2
In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on
January 6th , 200 3.
LA QUINTA DUNES 350, INC.
Principal
(Seal)
Si na e f Principa
Title of Signa ory
Gulf Insurance Company
Surety
(Seal)
i ature of Surety
Richard Adair, Attorney in Fact
Title of Signatory
110 West A Street, Suite 1805, San Diego, Ca 92101
Address of Surety
619-446-2843
Phone # of Surety
Dave Banfer
Contact Person For Surety
F210
Bond No. B34343032
Premium: $1,925.00
FAITHFUL PERFORMANCE BOND
(LQMC 6.16)
Fugitive Dust Control Bond
WHEREAS, the City of La Quinta, California, is prepared to authorize LA QUINTA
DUNES 350, INC. , as Principal, to proceed with certain construction activities
pursuant to one, or more permits issued by the City, for various infrastructure improvements and/or
structures on, or associated with, privately -owned property generally known to the City and others as
TRACT 29323 ; and
WHEREAS, all such construction and demolition activities must be performed in such
manner as to conform with La Quinta Municipal Code, Chaper 6.16, entitled Fugitive Dust Control to
reduce fugitive dust and corresponding PM10 emissions; and
WHEREAS, said Principal is required by LQMC 6.16.050(A)(4) to ensure that Fugitive
Dust Control Plan # , prepared specifically for the subject construction site, is financially
secure by furnishing security for the faithful performance of the dust control activitities required in the
Fugitive Dust Mitigation Plan.
NOW, therefore, we the Principal and Gulf Insurance Company
as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal
sum of NINETYSIX THOUSAND TWO HUNDRED FIFTY and no/100
Dollars ($ 96,250.00 ) lawful money of the United States, for the payment of which sum well and truly
to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally,
firmly by these presents.
The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors,
administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep
and perform the covenants, conditions and provisions in the said dust control plan and any alteration
thereof made as therein provided, on his or their part, to be kept and performed at the time and in the
manner therein specified, and in all respects according to their true intent and meaning, and shall
indemnify and save harmless the Obligee, its officers, agents and employees, as therein stipulated, then
this obligation shall become null and void; otherwise, it shall be and remain in full force and effect.
As a part of the obligaton secured hereby and in addition to the face amount specified therefor, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred
by the Obligee in successfully enforcing such obligation, all to be taxed as costs and included in any
judgement rendered.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the
terms of the dust control plan or to the work to be performed thereunder or the specifications
accompanying the same shall in anywise affect its obligations on this bond, and it does hereby waive
notice of any such change, extension of time, alteration or addition to the terms of the dust control plan or
to the work, the specifications, or the conditions of approval of said plan.
Page 1 of 2
F211
Fugitive Dust Control Bond
Fugitive Dust Control Plan #
Page 2 of 2
In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on
January 6th ,200 3.
LA QUINTA DUNES 350, INC.
Principal
(Seal)
Signatu of Pri cipal
Title of Signatory
Gulf Insurance Company
Surety '
(Seal) ��-
Sig ature of Surety
Richard Adair, Attorney in Fact
Title of Signatory
110 West A Street, Suite 1805, San Diego, Ca 92101
Address of Surety
619-446-2843
Phone # of Surety
Dave Banfer
Contact Person For Surety
F211