30357 Toll Bros Mtn ViewCITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
Tract Map 30357 - Onsite Improvements
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement") is made and entered into this
/ 7 V27 day of �L ���'� ���-L , 206 Z ,
by and between TOLL CA V, L.P., A CALIFORNIA LIMITED PARTNERSHIP OWNED BY WHOLLY -OWNED
SUBSIDIARIES OF TOLL BROTHERS, INC., 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 (the "Map") of a unit of land in the City of La Quinta, County
of Riverside, which unit of land is known as Tract Map No. 30357 (the "Tract") pursuant to the provisions of Section
66410, et sec. of the California Government Code (the "Subdivision Map Act").
B. Prior to approval of the Map, Subdivider is required to install or agree to install certain public and private
improvements (the "Improvements").
C. The Improvements have not been installed and accepted at this time.
D. It is therefore necessary that Subdivider and City enter into an agreement for the installation of the
Improvements as provided in Section 66462 of the Subdivision Map Act.
NOW, THEREFORE, it is agreed by and between the parties hereto as follows:
1. Improvement Plans. Prior to submittal of the Map for approval by the City Council, Subdivider shall furnish
original improvement plans meeting the requirements of the City Engineer.
2. Improvements. Subdivider shall construct the public and private street, drainage, utility, landscaping, and
other improvements required to be constructed or agreed to be constructed under this Agreement as listed in
Exhibit "A", and shall bear the full cost thereof. The methods, standards, specifications, sequence, and scheduling
of construction shall be as approved by the City Engineer.
3. Improvement Security.
A. One class of security to be provided by Subdivider, hereinafter referred to as "performance security,"
shall assure the faithful performance of this Agreement including construction of the Improvements, payment of
Subdivider's fair share of Improvements which have been or will be constructed by others ("Participatory
Improvements"), and payment of plan check and permit fees. A second class of security to be provided by
Subdivider, hereinafter referred to as "payment security," shall assure the payment of the cost of labor, equipment
and materials supplied to construct the Improvements. A third class of security to be provided by Subdivider,
hereinafter referred to as "warranty security," shall serve as a guarantee and warranty of the Improvements for a
period of one year following the completion and acceptance of the Improvements. Subdivider shall furnish
performance and payment security prior to and as a condition of City Council approval of the Map. Subdivider shall
provide warranty security after Improvements are complete and accepted by the City Council and prior to or
concurrently with the final release of performance security. Warranty security shall not be required for
Monumentation or Participatory Improvements. However, the City may utilize Monumentation Security for
performance of or payment for the work in accordance with the Subdivision Map Act.
As part of the obligation secured by each of the performance security, payment security and warranty
security, and in addition to the face amount of each such security, each such security shall include and assure the
payment of costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in
successfully enforcing the obligations thereby secured.
B. Improvement security shall conform with Section 66499 of the California Government Code and one
or more of the following:
1) A cash deposit with City or a responsible escrow agent or trust company, at City's option.
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2) Surety bonds, of the form specified in subsection 66499.2 of the California Government Code,
issued by a surety or sureties listed in the U.S. Department of Treasury Circular 570 (latest version).
3) Certificates of deposit, in City's name, from one or more financial institutions subject to regulation
by the state or federal government and having a financial quality rating of "A" or better and a commitment reliability
rating of "R-2" or better on the Investment Data Exchange (of the Los Angeles County Treasurer's office).
4) Irrevocable letters of credit, issued by one or more financial institutions meeting the requirements
of Paragraph (3), pledging that the funds necessary to carry out the completion of the Improvements are on deposit,
guaranteed for payment, and constitute a trust fund which is not subject to levy or attachment by any creditor of
the depositor until released by City. Letters of credit shall guarantee that all or any portion of the funds available
pursuant to the letters of credit will be paid upon the written demand of City and that such written demand need not
present documentation of any type as a condition of payment, including proof of loss. The duration of any such
letter of credit shall be for a period of not less than one year from the execution of the agreement with which it is
provided and shall state, on its face, that the letter of credit will be automatically renewed until such time that City
authorizes its expiration or until sixty (60) days after City receives notice from the financial institution of intent to
allow expiration of the letter of credit.
5) A lien upon the subdivided property, if City finds that it would not be in the public interest to
require the installation of the Improvements sooner than two (2) years after recordation of the final map or parcel
map for which the Improvements are required. The lien shall provide a collateral value of three (3) times the
estimated cost of the Improvements and shall include the power of sale of the real property, all buildings and
improvements thereon, or that may be erected upon or made thereto, together with all hereditaments and
appurtenances thereunto belonging, or in any wise appertaining, and the reservations, remainders, rents, issues,
and profits thereof. The collateral value of the property shall be established at Subdivider's expense through an
appraisal approved by City.
6) An instrument of credit from an agency of the state, federal or local government, when any
agency of the state, federal, or local government provides at least Twenty Percent (20%) of the financing for the
Improvements.
7) When Subdivider is a non-profit organization, security may be negotiable bonds, of the kind
approved for securing deposits of public moneys with City or in favor of City, as specified in Section 16430 of the
California Government Code, deposited, at City's option, with City or a responsible escrow agent or trust company.
C. 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 constructing the
Improvements, including payment of plan check and permit fees, as estimated by the City Engineer or a duly
authorized representative of the City Engineer. The amount of Payment security shall equal the amount of the
amount of performance security, except as otherwise set forth in Exhibit A, and shall be furnished as a separate
security. Warranty security shall equal Ten Percent (10%) of the amount of performance security except as
otherwise set forth in Exhibit A.
D. At the time of submittal of security, Subdivider shall pay to City administrative fees applicable to the
form of security provided. Administrative fees shall apply to the subdivision (final map, parcel map or waiver of
parcel map) rather than to individual security instruments. The fees shall be paid separately for each different form
and/or source (surety or financial institution) of security initially submitted and for substitution of securities but shall
not be required for submittal of warranty security if the warranty security is of the same form and from the same
source as the performance security it replaces. Administrative fees for security shall be as follows:
1) For certificates of deposit, bonds and letters of credit as described in Paragraphs 2), 3) and 4)
of SECTION 3.B., which require the establishment of evidence of the reliability of the surety or financial institution,
the administrative fee shall be One Hundred Fifty Dollars ($150.00).
2) For liens on real property as described in Paragraph 5) of SECTION 3.B., for which City will
prepare lien agreements and subordination agreements, administer valuation of the real property and administer
the agreements over the life of the lien, all of which require legal assistance and financial advice, Subdivider shall
pay to City an administration fee of One Half of One Percent (0.5%) of the estimated cost of the improvements
secured but not less than Five Hundred Dollars ($500.00) nor more than Five Thousand Dollars ($5,000.00).
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3) For other forms of security listed in Section 3 B, above, there will be no administrative fee.
E. Participatory Improvements, if any, are identified in Exhibit A. Securityfor Participatory Improvements
shall remain in place until the Participatory Improvements are constructed and actual costs are known and paid
by Subdivider, or until Subdivider pays to City the estimated cost of the Participatory Improvements, and shall
guarantee the reimbursement by Subdivider of Subdivider's share of the cost of the Participatory Improvements.
Payment security and warranty security shall not be required for Participatory Improvements.
Upon written demand from City, Subdivider shall deposit cash with City in lieu of or in replacement of security
guaranteeing Participatory Improvements. If Subdivider fails to deposit said cash within 30 days of the date of the
written demand from City, City may present a written demand to Subdivider's Surety for payment of said cash and
Subdivider's Surety shall pay to City the lesser of: 1) the amount demanded, or 2) the amount of the security.
F. 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.
G. 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) The City Engineer may authorize partial reduction of performance security as work progresses,
upon application by Subdivider. However, no such reduction shall be for an amount less than Ten Percent (10%)
of the total performance security provided for the faithful performance of the actor work. In no event shall security
be reduced below that required to guarantee the completion of the act or work or obligation secured, plus Ten
Percent (10%). The City Engineer shall not allow more than two partial reductions of security furnished for any
improvement agreement.
3) Participatory Improvement security shall be released upon payment by Subdivider of
Subdivider's share of the cost or estimated cost of the Participatory Improvements.
4) If City receives no notice of recorded claims of lien, labor and materials security shall be
released in full 90 days after final acceptance and/or approval by the City Council, of the Improvements. If City
receives notice of any recorded lien, the provisions of the Subdivision Map Act shall apply.
5) Warranty security not utilized during the warranty period shall be released one year after final
acceptance or approval by the City Council of all Tract Improvements. However, if at the end of the one-year
warranty period, there are one or more outstanding requests by City for performance of work or provision of
materials under the terms of the warranty, warranty security shall be retained until the outstanding requests are
satisfied or until Subdivider has made other arrangements satisfactory to the City Engineer.
4. Permits Required. Prior to commencing any phase of work, Subdivider shall obtain all permits required
for that phase of work and pay all required fees. Work performed under a permit or permits shall comply with all
provisions of the required permits.
5. Off -site Improvements. When the construction of one or more of the Improvements requires or
necessitates the acquisition of real property not owned by Subdivider or City, Subdivider shall use its best efforts
purchase such real property at a reasonable price. In the event that Subdivider is unsuccessful, despite its best
efforts, to acquire such real property at a reasonable price, Subdivider may request in writing that City attempt to
acquire such real property. City may, but is not required to, agree to attempt to acquire such real property on behalf
of Subdivider. If City so agrees, City and Subdivider shall enter a separate written agreement in a form acceptable
to the City Attorney. Said separate agreement shall provide that Subdivider advance to City One Hundred Fifty
Percent (150%) of the appraised fair market value of the real property. Any unexpended portion of said advance
shall be refunded to Subdivider. Any additional funds required for acquisition of the real property shall be paid by
Subdivider to City upon the conveyance of said real property to Subdivider. In no event shall the failure of
Subdivider or City to acquire such real property excuse, waive, or otherwise terminate Subdivider's obligation to
construct the applicable improvement pursuant to this Agreement or the Conditions of Approval.
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6. Completion of Improvements. Subdivider shall begin construction of the Improvements within ninety (90)
days and shall complete construction within twelve (12) months after the approval of this Agreement. Portions of
the Improvements may be completed at a later date, as determined by the City Engineer or as set forth in Exhibit
A. Failure by Subdivider to begin or complete construction of the Improvements within the specified time periods
shall constitute cause for City, in its sole discretion and when it deems necessary, to declare Subdivider in default
of this agreement, to revise improvement security requirements as necessary to ensure completion of the
improvements, and/or to require modifications in the standards or sequencing of the Improvements in response to
changes in standards or conditions affecting or affected by the Improvements. Said failure shall not otherwise affect
the validity of this agreement or Subdivider's obligations hereunder.
7. Force Maieure. In the event that Subdivider is unable to perform within the time limits herein due to
strikes, act of God, or other events beyond Subdivider's control, the time limits for obligations affected by such
events will be extended by the period of such events.
8. Time Extension. Subdivider may make application in writing to the City Council for an extension of time
for completion of the Improvements. The City Council, in its sole and absolute discretion, may approve or deny
the request or conditionally approve the extension with additions or revisions to the terms and conditions of this
Agreement.
As a condition of the time extension, Subdivider shall furnish securities, similar in form and substance to those
required in SECTION 3 hereinabove, to coverthe period of extension. The value of the securities shall be sufficient
to ensure the performance of and payment for Improvements that remain incomplete at the time of the extension,
and to provide warranty security on completed Improvements.
9. Survey Monuments. Before final approval of street improvements, 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.
10. Final Acceptance of Improvements. At the completion of construction and prior to acceptance of the
Improvements by City, Subdivider shall submit a request for final approval by City. The request shall be
accompanied by any required certifications from Subdivider's engineers or surveyors, approval letters from other
agencies having jurisdiction over and approval authority for improvements required by this Agreement or the
Conditions of Approval, and any required construction quality documentation not previously submitted.
Upon receipt of said request, the City Engineer or a duly -authorized representative will review the required
documentation and will inspect the Improvements. If the Improvements are determined to be in accordance with
applicable City standards and specifications, and as provided herein, obligations required by the Conditions of
Approval and this Agreement have been satisfied, and Subdivider has provided revised plans as required in
Paragraph 11, hereinafter, the City Engineer shall recommend acceptance of the Improvements by the City Council.
11. Revisions to Plans. When the Improvements have been inspected and approved by the City Engineer,
Subdivider shall make any necessary revisions to the original plans held by City so the plans depict the actual
Improvements constructed. When necessary revisions have been made, each separate sheet of the plans shall
be clearly marked with the words "As -Built," "As -Constructed," or "Record Drawing, the marking shall be stamped
by an engineer or surveyor, as appropriate for the improvements thereon, who is licensed to practice in California,
and the plans shall be resubmitted to the City Engineer.
12. Improvement Warranty. Subdivider hereby guarantees the Improvements to City for a period of one (1)
year, beginning on the date of final acceptance of the Improvements by the City Council, against any defective work
or labor done, or defective materials furnished, and shall repair or replace such defective work or materials.
13. Release of Security. City shall retain and release securities in accordance with the provisions of Section
3 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.
14. City Right to Cure. If Subdivider fails to perform any obligation hereunder and such obligation has not
been performed within sixty (60) days after written notice of default from City, then City may perform the obligation,
T:\PWDEPT\Devdiv\Agreements\SIA\30357 ONSITE SIA.WPD.wpd Page 4 of 6
and Subdivider shall pay the entire cost of such performance by City including costs of suit and reasonable
attorney's fees incurred by City in enforcing such obligation. In cases of emergency or compelling public interest,
as determined by the City Engineer, the requirement for written notice of default and/or the passage of sixty (60)
days shall be deemed waived and all other provisions of this Article shall remain in effect.
15. Indemnification. Subdivider hereby binds itself, its officers, employees, agents, representatives, executors,
administrators, guarantors, heirs, and assigns, and agrees to indemnify, defend and hold City and its officers,
employees, agents, representatives, and assigns harmless from and against 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
herein under, including costs of suit and reasonable attorneys' fees.
16. No Modification of Conditions. This Agreement shall in no respect act to modify or amend any provision
of the Conditions of Approval. In the event that any requirement or condition of this Agreement is inconsistent with
or fails to include one or more provisions of the Conditions of Approval, which document(s) is (are) incorporated
herein by reference, the provisions in the Conditions of Approval shall remain in effect and shall control.
17. Severability. In the event that any provision or provisions of this Agreement are held unenforceable, all
provisions not so held shall remain in full force and effect.
18. General Provisions
A. All notices pursuant to this Agreement shall be in writing and shall be personally delivered or sent
by registered or certified mail, return receipt requested, to the parties at their respective addresses indicated
hereon. Notices personally delivered shall be effective upon delivery. Notices mailed as provided herein and sent
postage prepaid shall be effective upon the date of delivery or refusal indicated on the return receipt. Either party
may change its address for notices hereunder by notice to the other given in the manner provided in this
subparagraph.
B. The terms, conditions, covenants, and agreements set forth herein shall apply to and bind the heirs,
executors, administrators, assigns, and successors of the parties hereto.
C. Neither party to this Agreement relies upon any warranty or representation not contained in this
Agreement.
D. This Agreement shall be governed by and interpreted with respect -to the laws of the State of
California.
E. In the event of any dispute between the parties with respect to this Agreement, the prevailing party
shall be entitled to prompt payment of its reasonable attorneys' fees from the non -prevailing party.
F. Any failure or delay by either party in asserting any of its rights and remedies as to any default shall
not operate as a waiver of any default or of any such rights or remedies provided for hereunder.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written
above.
CITY:
Thomas P. Genovese, City Manager Date
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
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CITY:
"',t s�
z;--
Thomas P. Genovese, City Manager
ATTEST:
SUBDIVIDER:
By:
Title:
By:
Title:
Reviewed and Approved:
Approved as to Form:
Engineer
City AttXney
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
�5'-/.3 -U
Date
TOLL CA V, L.P., A CALIFORNIA
LIMITED PARTNERSHIP OWNED
BY WHOLLY - OWNED
SUBSIDIARIES OF TOLL
BROTHERS, INC.
Regional Manager
Mr. Gary Lemon
74-923 Hovley Lane #2-220
Palm Desert, CA 92260
Tel. No. (760) 674-9389
(-3d- 6.3
Date
� 30zo,
Date
Al- 23-01
Date
5-15-0-3
Date
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
State of California
// ss.
County of DG
On ! , before me,
Date Name and Title of Officer (� gpp"Jane oe, Notary Public")
personally PP .
ersonall appeared
��QC
Name(s) of Signer(s)
AMY DONEGAN
Commission # 1285900
Notary Public - CardbrN y
laverside County
My Comm. Ejires Dec 1, 2004
I
personally known to me
El proved to me on the basis of satisfactory
evidence
to be the persorcwhose nam CS)s Cre
subscribed to the within instrument and
acknowledged to me that he/sh the executed
the same in his/her eir, i authorized
capacit (ies and that y his/her eir
signatur s n the instrument the perso s o
the entity upon behalf of which the perk )
acted, executed the instrument.
WITNESS my hand and official seal.
Place Notary Seal Above Signa ure of Notary Public
OPTIONAL
Though the information below is not required by law, it may prove valuable to persons relying on the document
and could prevent fraudulent removal and reattachment of this form to another document.
Description of Attached Document
Title or Type of Document:
Document Date:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer
Signer's Name:
❑ Individual
El Corporate Officer — Title(s):
❑ Partner — ❑ Limited ❑ General
❑ Attorney in Fact
❑ Trustee
❑ Guardian or Conservator
❑ Other:
Signer Is Representing:
Number of Pages-
RIGHT THUMBPRINT
OF SIGNER
•• .
O 1999 National Notary Association - 9350 De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313-2402 • www.nationalnotary.org Prod. No. 5907 Reorder: Call Toll -Free 1-800-876-6827
Exhibit A
SECURITY - TRACT MAP 30357
ONSITE IMPROVEMENTS
Except as otherwise provided herein, Subdivider shall furnish performance security and labor & materials security
prior to agendization of the Map for approval by the City Council.
Improvements designated as "Participatory" have been or will be constructed by others. Security for Participatory
Improvements shall remain in place indefinitely until called upon or released by City.
The "Engineering & Plans" security will be released when the City has possession of complete, approved, original
plans, signed and sealed by a design professional(s), for all required improvements. The "No -Plan Contingency",
which may be utilized for any listed item or for other cost found necessary in the design or construction of the
required improvements, may be released in whole or part by the City Engineer, at any time after construction plans
are complete and the scope and nature of improvements are fully known. These releases shall be separate from
and in addition to the reductions discussed below.
As elements of the work are completed, Subdivider may request a maximum of two partial releases of performance
security. Partial releases shall be for not less than ten percent (10%) of the total performance security for the tract
and shall not reduce total performance security below the amount necessary to complete the Improvements plus
ten percent (10%) of the original amount. Partial releases of performance security will be evaluated and may be
granted, in whole or in part, by the City Engineer. Requests for partial releases, setting forth in detail the amount
of work completed and the value thereof, shall be made in writing to the City Engineer.
Labor & materials security shall remain in place until 90 days after all required tract improvements are complete
and accepted by the City Council.
Improvement Description
Performance
Labor & Materials
Grading (50% Complete)
$1,053,000
$2,106,000
On Site Streets
$1,204,226
$1,204,226
Domestic Water
$1,456,860
$1,456,860
Sanitary Sewer
$983,375
$983,375
Storm Drain
$1,332,501
$1,332,501
Dry Utilities (Elect.)
$445,000
$445,000
C.V.W.D. Well Site & Gate
$106,261
$106,261
Irrigation Lateral 1208-0.41-1.25 Replacement
$66,485
$66,485
Monumentation
$57,980
(0)
Construction Subtotal:
$ 6,705,688
$7,700,708
Professional Fees Design & Construction (15%)
$1,005,853
$7,711,541
Contingency (20% of Project)
$1,542,308
Total: $9,253,849
CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
Tract Map 30357 - Offsite Improvements
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement") is made and entered into this
/7 "_ day of S�-:�r��i� 6zc , 20 o Z , by
and between TOLL CA V, L.P., A CALIFORNIA LIMITED PARTNERSHIP OWNED BY WHOLLY -OWNED
SUBSIDIARIES OF TOLL BROTHERS, INC., 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 (the "Map") of a unit of land in the City of La Quinta, County of
Riverside, which unit of land is known as Tract Map No. 30357 (the "Tract") pursuant to the provisions of Section
66410, et sec. of the California Government Code (the "Subdivision Map Act").
B. Prior to approval of the Map, Subdivider is required to install or agree to install certain public and private
improvements (the "Improvements").
C. The Improvements have not been installed and accepted at this time.
D. It is therefore necessary that Subdivider and City enter into an agreement for the installation of the
Improvements as provided in Section 66462 of the Subdivision Map Act.
NOW, THEREFORE, it is agreed by and between the parties hereto as follows:
1. Improvement Plans. Prior to submittal of the Map for approval by the City Council, Subdivider shall furnish
original improvement plans meeting the requirements of the City Engineer.
2. Improvements. Subdivider shall construct the public and private street, drainage, utility, landscaping, and
other improvements required to be constructed or agreed to be constructed under this Agreement as listed in Exhibit
"A", and shall bear the full cost thereof. The methods, standards, specifications, sequence, and scheduling of
construction shall be as approved by the City Engineer.
3. Improvement Security.
A. One class of security to be provided by Subdivider, hereinafter referred to as "performance security,"
shall assure the faithful performance of this Agreement including construction of the Improvements, payment of
Subdivider's fair share of Improvements which have been or will be constructed by others ("Participatory
Improvements"), and payment of plan check and permit fees. A second class of security to be provided by Subdivider,
hereinafter referred to as "payment security," shall assure the payment of the cost of labor, equipment and materials
supplied to construct the Improvements. A third class of security to be provided by Subdivider, hereinafter referred to
as "warranty security," shall serve as a guarantee and warranty of the Improvements for a period of one year following
the completion and acceptance of the Improvements. Subdivider shall furnish performance and payment security prior
to and as a condition of City Council approval of the Map. Subdivider shall provide warranty security after
Improvements are complete and accepted by the City Council and prior to or concurrently with the final release of
performance security. Warranty security shall not be required for Monumentation or Participatory Improvements.
However, the City may utilize Monumentation Security for performance of or payment for the work in accordance with
the Subdivision Map Act.
As part of the obligation secured by each of the performance security, payment security and warranty
security, and in addition to the face amount of each such security, each such security shall include and assure the
payment of costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in
successfully enforcing the obligations thereby secured.
B. Improvement security shall conform with Section 66499 of the California Government Code and one or
more of the following:
T:\PWDEPT\DEVDIV\AGREEMENTS\SIA\30357 OFFSITE SIA.WD.WPD Page 1 of 6
1) A cash deposit with City or a responsible escrow agent or trust company, at City's option.
2) Surety bonds, of the form specified in subsection 66499.2 of the California Government Code,
issued by a surety or sureties listed in the U.S. Department of Treasury Circular 570 (latest version).
3) Certificates of deposit, in City's name, from one or more financial institutions subject to regulation
by the state or federal government and having a financial quality rating of "A" or better and a commitment reliability
rating of "R-2" or better on the Investment Data Exchange (of the Los Angeles County Treasurer's office).
4) Irrevocable letters of credit, issued by one or more financial institutions meeting the requirements of
Paragraph (3), pledging that the funds necessary to carry out the completion of the Improvements are on deposit,
guaranteed for payment, and constitute a trust fund which is not subject to levy or attachment by any creditor of the
depositor until released by City. Letters of credit shall guarantee that all or any portion of the funds available pursuant
to the letters of credit will be paid upon the written demand of City and that such written demand need not present
documentation of any type as a condition of payment, including proof of loss. The duration of any such letter of credit
shall be for a period of not less than one year from the execution of the agreement with which it is provided and shall
state, on its face, that the letter of credit will be automatically renewed until such time that City authorizes its expiration
or until sixty (60) days after City receives notice from the financial institution of intent to allow expiration of the letter of
cred it.
5) A lien upon the subdivided property, if City finds that it would not be in the public interest to require
the installation of the Improvements sooner than two (2) years after recordation of the final map or parcel map for
which the Improvements are required. The lien shall provide a collateral value of three (3) times the estimated cost of
the Improvements and shall include the power of sale of the real property, all buildings and improvements thereon, or
that may be erected upon or made thereto, together with all hereditaments and appurtenances thereunto belonging, or
in any wise appertaining, and the reservations, remainders, rents, issues, and profits thereof. The collateral value of
the property shall be established at Subdivider's expense through an appraisal approved by City.
6) An instrument of credit from an agency of the state, federal or local government, when any agency
of the state, federal, or local government provides at least Twenty Percent (20%) of the financing for the
Improvements.
7) When Subdivider is a non-profit organization, security may be negotiable bonds, of the kind
approved for securing deposits of public moneys with City or in favor of City, as specified in Section 16430 of the
California Government Code, deposited, at City's option, with City or a responsible escrow agent or trust company.
C. 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 constructing the
Improvements, including payment of plan check and permit fees, as estimated by the City Engineer or a duly
authorized representative of the City Engineer. The amount of Payment security shall equal the amount of the amount
of performance security, except as otherwise set forth in Exhibit A, and shall be furnished as a separate security.
Warranty security shall equal Ten Percent (10%) of the amount of performance security except as otherwise set forth
in Exhibit A.
D. At the time of submittal of security, Subdivider shall pay to City administrative fees applicable to the form
of security provided. Administrative fees shall apply to the subdivision (final map, parcel map orwaiver of parcel map)
rather than to individual security instruments. The fees shall be paid separately for each different form and/or source
(surety or financial institution) of security initially submitted and for substitution of securities but shall not be required for
submittal of warranty security if the warranty security is of the same form and from the same source as the
performance security it replaces. Administrative fees for security shall be as follows:
1) For certificates of deposit, bonds and letters of credit as described in Paragraphs 2), 3) and 4) of
SECTION 3.B., which require the establishment of evidence of the reliability of the surety or financial institution, the
administrative fee shall be One Hundred Fifty Dollars ($150.00).
2) For liens on real property as described in Paragraph 5) of SECTION 3.B., for which City will prepare
lien agreements and subordination agreements, administer valuation of the real property and administer the
agreements over the life of the lien, all of which require legal assistance and financial advice, Subdivider shall pay to
City an administration fee of One Half of One Percent (0.5%) of the estimated cost of the improvements secured but
not less than Five Hundred Dollars ($500.00) nor more than Five Thousand Dollars ($5,000.00).
T:\PWDEPT\DEVDIV\AGREEMENTS\SIA\30357 OFFSITE SIA.WD.WPD Page 2 of 6
3) For other forms of security listed in Section 3 B, above, there will be no administrative fee.
E. Participatory Improvements, if any, are identified in Exhibit A. Security for Participatory Improvements
shall remain in place until the Participatory Improvements are constructed and actual costs are known and paid by
Subdivider, or until Subdivider pays to City the estimated cost of the Participatory Improvements, and shall guarantee
the reimbursement by Subdivider of Subdivider's share of the cost of the Participatory Improvements. Payment
security and warranty security shall not be required for Participatory Improvements.
Upon written demand from City, Subdivider shall deposit cash with City in lieu of or in replacement of security
guaranteeing Participatory Improvements. If Subdivider fails to deposit said cash within 30 days of the date of the
written demand from City, City may present a written demand to Subdivider's Surety for payment of said cash and
Subdivider's Surety shall pay to City the lesser of: 1) the amount demanded, or 2) the amount of the security.
F. 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.
G. 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) The City Engineer may authorize partial reduction of performance security as work progresses,
upon application by Subdivider. However, no such reduction shall be for an amount less than Ten Percent (10%) of
the total performance security provided for the faithful performance of the act or work. In no event shall security be
reduced below that required to guarantee the completion of the act or work or obligation secured, plus Ten Percent
(10%). The City Engineer shall not allow more than two partial reductions of security furnished for any improvement
agreement.
3) Participatory Improvement security shall be released upon payment by Subdivider of Subdivider's
share of the cost or estimated cost of the Participatory Improvements.
4) If City receives no notice of recorded claims of lien, labor and materials security shall be released in
full 90 days after final acceptance and/or approval by the City Council, of the Improvements. If City receives notice of
any recorded lien, the provisions of the Subdivision Map Act shall apply.
5) Warranty security not utilized during the warranty period shall be released one year after final
acceptance or approval by the City Council of all Tract Improvements. However, if at the end of the one-year warranty
period, there are one or more outstanding requests by City for performance of work or provision of materials under the
terms of the warranty, warranty security shall be retained until the outstanding requests are satisfied or until Subdivider
has made other arrangements satisfactory to the City Engineer.
4. Permits Required. Prior to commencing any phase of work, Subdivider shall obtain all permits required for
that phase of work and pay all required fees. Work performed under a permit or permits shall comply with all
provisions of the required permits.
5. Off -site Improvements. When the construction of one or more of the Improvements requires or necessitates
the acquisition of real property not owned by Subdivider or City, Subdivider shall use its best efforts purchase such real
property at a reasonable price. In the event that Subdivider is unsuccessful, despite its best efforts, to acquire such
real property at a reasonable price, Subdivider may request in writing that City attempt to acquire such real property.
City may, but is not required to, agree to attempt to acquire such real property on behalf of Subdivider. If City so
agrees, City and Subdivider shall enter a separate written agreement in a form acceptable to the City Attorney. Said
separate agreement shall provide that Subdivider advance to City One Hundred Fifty Percent (150%) of the appraised
fair market value of the real property. Any unexpended portion of said advance shall be refunded to Subdivider. Any
additional funds required for acquisition of the real property shall be paid by Subdivider to City upon the conveyance of
said real property to Subdivider. In no event shall the failure of Subdivider or City to acquire such real property excuse,
waive, or otherwise terminate Subdivider's obligation to construct the applicable improvement pursuant to this
Agreement or the Conditions of Approval.
T:\PWDEPT\DEVDIV\AGREEMENTS\SIA\30357 OFFSITE SIA.WD.WPD Page 3 of 6
6. Completion of Improvements. Subdivider shall begin construction of the Improvements within ninety (90)
days and shall complete construction within twelve (12) months after the approval of this Agreement. Portions of the
Improvements may be completed at a later date, as determined by the City Engineer or as set forth in Exhibit A.
Failure by Subdivider to begin or complete construction of the Improvements within the specified time periods shall
constitute cause for City, in its sole discretion and when it deems necessary, to declare Subdivider in default of this
agreement, to revise improvement security requirements as necessary to ensure completion of the improvements,
and/or to require modifications in the standards or sequencing of the Improvements in response to changes in
standards or conditions affecting or affected by the Improvements. Said failure shall not otherwise affect the validity of
this agreement or Subdivider's obligations hereunder.
7. Force Majeure. In the event that Subdivider is unable to perform within the time limits herein due to strikes,
act of God, or other events beyond Subdivider's control, the time limits for obligations affected by such events will be
extended by the period of such events.
8. Time Extension. Subdivider may make application in writing to the City Council for an extension of time for
completion of the Improvements. The City Council, in its sole and absolute discretion, may approve or deny the
request or conditionally approve the extension with additions or revisions to the terms and conditions of this
Agreement.
As a condition of the time extension, Subdivider shall furnish securities, similar in form and substance to those
required in SECTION 3 hereinabove, to cover the period of extension. The value of the securities shall be sufficient to
ensure the performance of and payment for Improvements that remain incomplete at the time of the extension, and to
provide warranty security on completed Improvements.
9. Survey Monuments. Before final approval of street improvements, 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.
10. Final Acceptance of Improvements. At the completion of construction and prior to acceptance of the
Improvements by City, Subdivider shall submit a request for final approval by City. The request shall be accompanied
by any required certifications from Subdivider's engineers or surveyors, approval letters from other agencies having
jurisdiction over and approval authority for improvements required by this Agreement or the Conditions of Approval,
and any required construction quality documentation not previously submitted.
Upon receipt of said request, the City Engineer or a duly -authorized representative will review the required
documentation and will inspect the Improvements. If the Improvements are determined to be in accordance with
applicable City standards and specifications, and as provided herein, obligations required by the Conditions of Approval
and this Agreement have been satisfied, and Subdivider has provided revised plans as required in Paragraph 11,
hereinafter, the City Engineer shall recommend acceptance of the Improvements by the City Council.
11. Revisions to Plans. When the Improvements have been inspected and approved by the City Engineer,
Subdivider shall make any necessary revisions to the original plans held by City so the plans depict the actual
Improvements constructed. When necessary revisions have been made, each separate sheet of the plans shall be
clearly marked with the words "As -Built," "As -Constructed," or "Record Drawing," the marking shall be stamped by an
engineer or surveyor, as appropriate for the improvements thereon, who is licensed to practice in California, and the
plans shall be resubmitted to the City Engineer.
12. Improvement Warranty. Subdivider hereby guarantees the Improvements to City for a period of one (1) year,
beginning on the date of final acceptance of the Improvements by the City Council, against any defective work or labor
done, or defective materials furnished, and shall repair or replace such defective work or materials.
13. Release of Security. City shall retain and release securities in accordance with the provisions of Section 3 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.
T:\PWDEPT\DEVDIV\AGREEMENTS\SIA\30357 OFFSITE SIA.WD.WPD Page 4 of 6
14. City Right to Cure. If Subdivider fails to perform any obligation hereunder and such obligation has not been
performed within sixty (60) days after written notice of default from City, then City may perform the obligation, and
Subdivider shall pay the entire cost of such performance by City including costs of suit and reasonable attorney's fees
incurred by City in enforcing such obligation. In cases of emergency or compelling public interest, as determined by
the City Engineer, the requirement for written notice of default and/or the passage of sixty (60) days shall be deemed
waived and all other provisions of this Article shall remain in effect.
15. Indemnification. Subdivider hereby binds itself, its officers, employees, agents, representatives, executors,
administrators, guarantors, heirs, and assigns, and agrees to indemnify, defend and hold City and its officers,
employees, agents, representatives, and assigns harmless from and against 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
herein under, including costs of suit and reasonable attorneys' fees.
16. No Modification of Conditions. This Agreement shall in no respect act to modify or amend any provision of
the Conditions of Approval. In the event that any requirement or condition of this Agreement is inconsistent with or fails
to include one or more provisions of the Conditions of Approval, which document(s) is (are) incorporated herein by
reference, the provisions in the Conditions of Approval shall remain in effect and shall control.
17. Severability. In the event that any provision or provisions of this Agreement are held unenforceable, all
provisions not so held shall remain in full force and effect.
18. General Provisions
A. All notices pursuant to this Agreement shall be in writing and shall be personally delivered or sent by
registered or certified mail, return receipt requested, to the parties at their respective addresses indicated hereon.
Notices personally delivered shall be effective upon delivery. Notices mailed as provided herein and sent postage
prepaid shall be effective upon the date of delivery or refusal indicated on the return receipt. Either party may change
its address for notices hereunder by notice to the other given in the manner provided in this subparagraph.
B. The terms, conditions, covenants, and agreements set forth herein shall apply to and bind the heirs,
executors, administrators, assigns, and successors of the parties hereto.
C. Neither party to this Agreement relies upon any warranty or representation not contained in this
Agreement.
D. This Agreement shall be governed by and interpreted with respect to the laws of the State of California.
E. In the event of any dispute between the parties with respect to this Agreement, the prevailing party shall
be entitled to prompt payment of its reasonable attorneys' fees from the non -prevailing party.
F. Any failure or delay by either party in asserting any of its rights and remedies as to any default shall not
operate as a waiver of any default or of any such rights or remedies provided for hereunder.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year firstwritten above.
CITY: City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
T:\PWDEPT\DEVDIV\AGREEMENTS\SIA\30357 OUSITE SIA.WD.WPD Page 5 of 6
CITY. -
Thomas P. Genovese, City Manager
ATTEST:
SUBDIVIDER:
By:
Title: v P
Title: v• I
Reviewed and Approve
Approved as to Form:
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
_6'—/.3-03
Date
TOLL CA V, L.P., A CALIFORNIA
LIMITED PARTNERSHIP OWNED
BY WHOLLY - OWNED
SUBSIDIARIES OF TOLL
BROTHERS, INC.
Regional Manager
Mr. Gary Lemon
74-923 Hovley Lane #2-220
Palm Desert, CA 92260
Tel. No. (760) 674-9389
l -3c)_d 3
Date
Da
4-7,3-03
Date
5 -1- 03
Date
GC'rc 6l>47. are R ..i,
T:\PWDEPT\Devdiv\Agreements\SIA\30357 @m9kasia.wpd ✓,,4, Page 6 of 6
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
State of Cali
Y 71,�q?to�u
Count ofss.
On rC before me, ,
Date Na e and Title of Officer e.g., " e Doe, Notary Public")
personallyappeared C 2Y Ee
PP
Names) of Signer(s)
AMY DONEGAN
Commission # 1285900
Z Notory i'�lic - Califorr>lia
Riverside County
My Comm- Dies Dec 1, 2004
pElersonally known to me
proved to me on the basis of satisfactory
evidence
to be the perso swhose name is/ re
subscribed to the within instrument and
acknowledged to me that he/sh e xecuted
the same in his/he their) authoriz
capacity ies and that y his/her/their.,,"
signatur �n the instrument the perso sue;
the entity upon behalf of which the perso s)
acted, executed the instrument.
WIT SS my hand official seal.
Place Notary Seal Above S nature of Notary Public
0
OPTIONAL
Though the information below is not required by law, it may prove valuable to persons relying on the document
and could prevent fraudulent removal and reattachment of this form to another document.
Description of Attached Document
Title or Type of Document:
Document Date:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer
Signer's Name:
Individual
Corporate Officer — Title(s):
Partner — ❑ Limited ❑ General
Attorney in Fact
Trustee
Guardian or Conservator
Other:
Signer Is Representing:
Number of Pages:
RIGHT THUMBPRINT
OF SIGNER
.. of . here
0 1999 National Notary Association - 9350 De Soto Ave., P.O. Box 2402 - Chatsworth, CA 91313-2402 - www.nationalnotary_org Prod. No. 5907 Reorder: Call Toll -Free 1-800-876-6827
Exhibit A
SECURITY - TRACT MAP 30357
OFFSITE IMPROVEMENTS
Except as otherwise provided herein, Subdivider shall furnish performance security and labor & materials security
prior to agendization of the Map for approval by the City Council.
Improvements designated as "Participatory" have been or will be constructed by others. Security for Participatory
Improvements shall remain in place indefinitely until called upon or released by City.
The "Engineering & Plans" security will be released when the City has possession of complete, approved, original
plans, signed and sealed by a design professional(s), for all required improvements. The "No -Plan Contingency",
which may be utilized for any listed item or for other cost found necessary in the design or construction of the
required improvements, may be released in whole or part by the City Engineer, at any time after construction plans
are complete and the scope and nature of improvements are fully known. These releases shall be separate from
and in addition to the reductions discussed below.
As elements of the work are completed, Subdivider may request a maximum of two partial releases of performance
security. Partial releases shall be for not less than ten percent (10%) of the total performance security for the tract
and shall not reduce total performance security below the amount necessary to complete the Improvements plus
ten percent (10%) of the original amount. Partial releases of performance security will be evaluated and may be
granted, in whole or in part, by the City Engineer. Requests for partial releases, setting forth in detail the amount
of work completed and the value thereof, shall be made in writing to the City Engineer.
Labor & materials security shall remain in place until 90 days after all required tract improvements are complete
and accepted by the City Council.
Improvement Description
Performance
Labor & Materials
Off Site Improvements
Avenue 50 Improvements
$256,850
$256,850
Avenue 52 Improvements
$114,432
$114,432
Avenue 52 Sewer Improvements
$927,800
$927,800
Sub -Total$
$1,299,082
$1,299,082
Traffic Signals
Jefferson Street at Pomelo (50%)
$74,000
$74,000
Avenue 50 at Verano Dr. (100%)
$130,000
$130,000
Sub -Total
$204,000
$204,000
Perimeter Landscape and Wall Improvements
For Jefferson Street and Avenue 50
$641,436
$641,436
Irrigation Relocations
$103,365
$103,365
Construction Subtotal:
$2,247,883
$2,247,883
Professional Fees Design & Construction (15%)
$337,182
Subtotal:
$2,585,065
Contingency (20% of project)
$517,013
TOTAL:
$3,102,078
$2,247,883
OUTSTANDING BOND REPORT
Name: TOLL CA VLP (TOLL BROTHERS) (On -site Improvements)
Tract No. 30357
Date of Contract: September 17, 2002
Required Bond Amounts:
Grading
Streets
Water
Sewer
Storm Drain
Utilities
Well Site/Gate
Irrigation Lateral
Monumentation
Professional Fees
Contingency
Dates of Bond Reductions:
$1,053,000 / $ 2,106,000
$1,204,226 / $1,204,226
$1,456,860 / $1,456,860
$ 983,375 / $ 983,375
$1,332,501 / $1,332,501
$ 445,000 / $ 445,000
$ 106,261 / $ 106,261
$ 66,485 / $ 66,485
$ 57,980
$1,005,853
$1,542,308
PW Dept. reduced Performance Bonds to $2,052,699 on March 20, 2003.
Outstanding Bonds and Bond Company: Continental Insurance
Amount: Bond No. Date Cancelled/Released:
$9,253,849 929263282 Reduced to rider 3/20/03
$ 2,052,699 same
$7,700,708 same
Continental Casualty Company
National Fire Insurance Company of Hartford
American Casualty Company of Reading, Pennsylvania
The Continental Insurance Company
CNA Plaza A Stock Company
Chicago, Illinois 60685
DECREASE RIDER
CNA
To be attached and made a part of Bond No. 929263282 issued by THE CONTINENTAL INSURANCE
COMPANY, (hereinafter called the Surety), on behalf of TOLL CA V, L.P., (hereinafter called the Principal),
in favor of the CITY OF LA QUINTA, (hereinafter called the Obligee), and dated the 8 TH Day of
AUGUST, 2002.
In consideration of the premium charged for the attached bond and other good and valuable consideration it is
understood and agreed that effective the 18 TH day of FEBRUARY, 2003 and subject to all the terms,
conditions and limitations of the attached bond, the penal sum thereof shall be and the same is hereby
decreased from the sum of NINE MILLION TWO HUNDRED FIFTY THREE THOUSAND EIGHT
HUNDRED FORTY NINE AND 00/100 DOLLARS ($9,253,849.00) to the sum of TWO MILLION FIFTY
TWO THOUSAND SIX HUNDRED NINETY NINE AND 00/ 100 DOLLARS ($2,052,699.00).
It is further understood and agreed that subject to all the terms, conditions and limitations of the attached
bond, the aggregate liability of the Surety for any loss occurring prior to said date shall not exceed the sum of
NINE MILLION TWO HUNDRED FIFTY THREE THOUSAND EIGHT HUNDRED FORTY NINE AND
00/100 DOLLARS ($9,253,849.00), or for any loss occurring subsequent to said date shall not exceed the
sum of TWO MILLION FIFTY TWO THOUSAND SIX HUNDRED NINETY NINE AND 00/100
DOLLARS ($2,052,699.00). In no event, however, shall the aggregate liability of the Surety exceed the
larger of the aforementioned sums, it being the intent hereof to preclude cumulative liability.
Signed, sealed and dated this 11 TH day of MARCH, 2003.
ATTEST: TOLL CA V, L.P., A CALIFORNIA LIMITED
PARTNERSHIP
BY: TOLL CA GP CORP., A CALIFORNIA
CORPORATION GENERAL PARTNER
THE ABOVE IS HEREBY AGREED TO
AND ACCEPTED:
CITY OF LA QUINTA
BY:
THE CONTINENTAL INSURANCE COMPANY
BY:
'.. ``DANIEL P. UNIGAN - ATT E -IN-FACT
PERFORMANCE BOND
BOND #929263282
WHEREAS, THE CITY OF LA QUINTA, State of California, and TOLL CA V, L. P., A
CALIFORNIA LIMITED PARTNERSHIP OWNED BY WHOLLY -OWNED SUBSIDIARIES OF TOLL
BROTHERS, INC., (hereinafter designated as "principal") have entered into an agreement whereby
principal agrees to install and complete certain designated onsite public improvements, which said
agreement, dated July 16, 2002 and identified as project MOUNTAIN VIEW COUNTRY CLUB TRACT
30357, is hereby referred to an made a part hereof; and
WHEREAS, Said principal is required under the terms of said agreement to furnish a bond for the
faithful performance of said agreement.
NOW, THEREFORE, we, the principal and THE CONTINENTAL INSURANCE COMPANY, as
surety, are held and firmly bound unto THE CITY OF LA QUINTA, hereinafter called ("obligee"), in the
penal sum of NINE MILLION TWO HUNDRED FIFTY THREE THOUSAND EIGHT HUNDRED FORTY
NINE AND NO/100 ($9,253,849.00), 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 above bounded 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 agreement 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 CITY OF LA QUINTA, its officers, agents and employees as therein stipulated, then this
obligation shall become null and void; otherwise it shall be an remain in full force and effect.
As a part of the obligation secured hereby, there shall be included costs and reasonable expenses and
fees, including reasonable attorneys' fees, incurred by City in successfully enforcing such obligation, all to be
taxed as costs and included in any judgement rendered. Notwithstanding anything contained herein to the
contrary, in no event shall Surety's aggregate liability under this Bond exceed the Bond Penalty as stated
above.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to
the terms of the agreement 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 agreement or to the work or to the specifications.
IN WITNESS WHEREOF, this instrument has been duly executed by the principal and Surety
above named on this 8 TH day of AUGUST, 2002.
ATTEST: TOLL CA V L.P., A CALIFORNIA LIMITED "PARTNERSHIP
BY: TOLL CA GP CORP., A CALIFORNIA CORPORATION
GENERAL PARTNER
By: — By: Jcl
WITNESS: THE CONTINENTAL INSURANCE COMPANY
� _ 1
1(f
Eliza h Kelly — Wit4ess Daniel P. Dunigan — Attorney-i ct
LABOR AND MATERIALS BOND
BOND #929263282
WHEREAS, THE CITY OF LA QUINTA, State of California and TOLL CA V, L. P., A CALIFORNIA
LIMITED PARTNERSHIP OWNED BY WHOLLY -OWNED SUBSIDIARIES OF TOLL BROTHERS,
INC., (hereinafter designated as "principal") have entered into an agreement whereby principal agrees to
install and complete certain designated onsite public improvements, which said agreement, dated July 16,
2002 and identified as project MOUNTAIN VIEW COUNTRY CLUB TRACT 30357, is hereby referred to
and made a part hereof; and
WHEREAS, Under the terms of said agreement, principal is required before entering upon the
performance of the work, to file a good and sufficient payment bond with THE CITY OF LA QUINTA to
secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division
3 of the Civil Code of the State of California.
NOW THEREFORE, said principal and the undersigned as corporate surety, are held and firmly
bound unto THE CITY OF LA QUINTA and all contractors, subcontractors, laborers, materialmen, and
other persons employed in the performance of the aforesaid agreement and referred to in the aforesaid Code
of Civil Procedures in the penal sum of SEVEN MILLION SEVEN HUNDRED THOUSAND SEVEN
HUNDRED EIGHT AND NO/100 ($7,700,708.00), lawful money of the United States (the "Bond Penalty"),
for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance
Act with respect to such work or labor, that said surety will pay the same in an amount not exceeding the
amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, costs and reasonable
expenses and fees, including reasonable attorney's fees, incurred by the City in successfully enforcing such
obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgement
therein rendered. Notwithstanding anything contained herein to the contrary, in no event shall Surety's
aggregate liability under this Bond exceed the Bond Penalty.
It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all
persons, companies and corporations entitled to file claims under Title 15 (commencing with Section 3082) of
Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit
brought upon this bond.
Should the condition of this bond be fully performed, then this obligation shall become null and void,
otherwise it shall be and remain in full force and effect.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to
the terms of the agreement or the specifications accompanying the same shall in any way affect its obligation
on this bond, and it does hereby waive notice of any such change, extension, alteration or addition.
IN WITNESS whereof, this instrument has been duly executed by the principal and surety above
named on 8 TH day of AUGUST, 2002.
ATTEST:
By:
WITNESS:
TOLL CA V, L.P. A CALIFORNIA LIMITED PARTNERSHIP
BY: TOLL CA GP CORP., A CALIFORNIA CORPORATION
GENERAL PARTNER
By:
THE CONTINENTAL INSWNCE COMPANY
ByBy; �-c t •�
.
lizab Kelly — Witness `' ✓ Daniel P. Dunigan — Atto ey-in-F
OUTSTANDING BOND REPORT
Name: TOLL CA VLP (TOLL BROTHERS) (Off -site Improvements)
Tract No. 30357
Date of Contract: September 17, 2002
Required Bond Amounts:
Ave 50
Ave 52
Ave 52 Sewer
Jefferson/Pomelo Signal
Ave 50/Verano Signal
Peri. Landscape/Wall
Irrigation Relocations
Professional Fees
Contingency
Dates of Bond Reductions:
$ 256,850 / $ 256,850
$114,432 / $114,432
$927,800 / $927,800
$ 74,000 / $ 74,000
$130,000 / $130,000
$ 641,436 / $ 641,436
$103,365 / $103,365
$337,182
$517,013
PW Dept. reduced Performance Bonds to $2,369,844 on March 20, 2003.
Outstanding Bonds and Bond Company: Continental Insurance
Amount: Bond No. Date Cancelled/Released:
$3,102,078 929263283 Reduced to rider 3/20/03
$2,369,844 same
$ 2,247,883 same
Continental Casualty Company
National Fire Insurance Company of Hartford
American Casualty Company of Reading, Pennsylvania
The Continental Insurance Company
CNA Plaza A Stock Company
Chicago, Illinois 60685
DECREASE RIDER
CNA
To be attached and made a part of Bond No. 929263283 issued by THE CONTINENTAL INSURANCE
COMPANY, (hereinafter called the Surety), on behalf of TOLL CA V, L.P., (hereinafter called the Principal),
in favor of the CITY OF LA QUINTA, (hereinafter called the Obligee), and dated the 8 TH Day of
AUGUST, 2002.
In consideration of the premium charged for the attached bond and other good and valuable consideration it is
understood and agreed that effective the 18 TH day of FEBRUARY, 2003 and subject to all the terms,
conditions and limitations of the attached bond, the penal sum thereof shall be and the same is hereby
decreased from the sum of THREE MILLION ONE HUNDRED TWO THOUSAND SEVENTY EIGHT
AND 00/100 DOLLARS ($3,102,078.00) to the sum of TWO MILLION THREE HUNDRED SIXTY NINE
THOUSAND EIGHT HUNDRED FORTY FOUR AND 00/100 DOLLARS ($2,369,844.00).
It is further understood and agreed that subject to all the terms, conditions and limitations of the attached
bond, the aggregate liability of the Surety for any loss occurring prior to said date shall not exceed the sum of
THREE MILLION ONE HUNDRED TWO THOUSAND SEVENTY EIGHT AND 00/100 DOLLARS
($3,102,078.00), or for any loss occurring subsequent to said date shall not exceed the sum of TWO
MILLION THREE HUNDRED SIXTY NINE THOUSAND EIGHT HUNDRED FORTY FOUR AND
00/100 DOLLARS ($2,369,844.00). In no event, however, shall the aggregate liability of the Surety exceed
the larger of the aforementioned sums, it being the intent hereof to preclude cumulative liability.
Signed, sealed and dated this 11 TH day of MARCH, 2003.
ATTEST: TOLL CA V, L.P., A CALIFORNIA LIMITED
PARTNERSHIP
BY: TOLL CA GP CORP., A CALIFORNIA
CORPORATION GENERAL PARTNER
THE ABOVE IS HEREBY AGREED TO
AND ACCEPTED:
CITY OF LA QUINTA
BY:
- �k
(TI E)
BY:
THE CONTINENTAL INSURANCE COMPANY
y) ry
DANIEL P. DUNIGAN - ATTO -IN-FACT
PERFORMANCE BOND
BOND #929263283
WHEREAS, THE CITY OF LA QUINTA, State of California, a d TOLL
SUBSIDIARIES L. TOLL
CALIFORNIA LIMITED PARTNERSHIP OWNED BY WHOLLY OWN
BROTHERS, INC., (hereinafter designated as "principal") have entered into an agreement whereby
principal agrees to install and complete certain designated offsite public improvements, which said
COUNTRY CLUB TRACT
agreement, dated July 16, 2002 and identified as project MOUNTAIN VIE
30357, is hereby referred to an made a part hereof; and
WHEREAS, Said principal is required under the terms of said agreement to furnish a bond for the
faithful performance of said agreement.
NOW, THEREFORE, we, the principal and THE CONTINENTAL INSURANCE COMPANY, as
surety, are held and firmly bound unto THE CITY OF LA QUINTA, hereinafterSEVENTY EIGHT AND / NO/ 100
penal sum of THREE MILLION ONE 1d States HUNDRED hewBondHPenaltyND for the payment of which sum well
($3,102,078.00), lawful money of the U (
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 above bounded principal, his or its heirs, executors,
administrators, successors or assigns, shall in all things stand to and abideeement d , and well and
t truly
keep made a
perform the covenants, conditions and provisions
be kept and performed at the timeyand in the manner therein
therein provided, on his or their p P
specified, and in all respects according to their true intent and meaning,
ng, asnd shallrein stipulated, then this
indemnify and save
harmless THE CITY OF LA QUINTA, its officers, agents and employees
obligation shall become null and void; otherwise it shall be and remain in full force and effect.
As a part of the obligation secured hereby and in addition to the face amount reasonablelf feesied t recurred
there shall be included costs and reasonable expenses and fees, including attorneys'
by the City in successfully enforcing such obligation, all to be taxed as costs aevent shall Surety's aggregate
uded in any judgement
rendered. Notwithstanding anything contained herein to the contrary,
liability under this Bond exceed the Bond Penalty as stated above.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to
the terms of the agreement 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
the work notice
of any the spec fh ch nsge,
extension of time, alteration or addition to the terms of the agreement or
IN WITNESS WHEREOF, this instrument has been duly executed by the principal and Surety
above named on 8 TH day of AUGUST, 2002.
ATTEST:
By:
WITNESS:
Elizab t Kelly — Witne
TOLL CA V L.P., A CALIFORNIA LIMITED PARTNERSHIP
CALIFORNIA ORPORATION
BY. TOLL CA GP CORP.,
GENERAL PARTNER
By:
THE CONTINENTAL INSURANCE COMPANY
J
By: -_
Daniel P. Dunigan — Attorney -in
LABOR AND MATERIALS BOND
BOND #929263283
WHEREAS, THE CITY OF LA QUINTA, State of California and TOLL CA V, L. P., A CALIFORNIA
LIMITED PARTNERSHIP OWNED BY WHOLLY -OWNED SUBSIDIARIES OF TOLL BROTHERS,
INC., (hereinafter designated as "principal") have entered into an agreement whereby principal agrees to
install and complete certain designated offsite public improvements, which said agreement, dated July 16,
2002 and identified as project MOUNTAIN VIEW COUNTRY CLUB TRACT 30357, is hereby referred to
and made a part hereof; and
WHEREAS, Under the terms of said agreement, principal is required before entering upon the
performance of the work, to file a good and sufficient payment bond with THE CITY OF LA QUINTA to
secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division
3 of the Civil Code of the State of California.
NOW THEREFORE, said principal and the undersigned as corporate surety, are held and firmly
bound unto THE CITY OF LA QUINTA and all contractors, subcontractors, laborers, materialmen, and
other persons employed in the performance of the aforesaid agreement and referred to in the aforesaid Code
of Civil Procedures in the penal sum of TWO MILLION TWO HUNDRED FORTY SEVEN THOUSAND
EIGHT HUNDRED EIGHTY THREE AND NO/100 ($2,247,883.00), lawful money of the United States (the
"Bond Penalty"), for materials furnished or labor thereon of any kind, or for amounts due under the
Unemployment Insurance Act with respect to such work or labor, that said surety will pay the same in an
amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will
pay, costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by the City in
successfully enforcing such obligation, to be awarded and fixed by the court, and to be taxed as costs and to
be included in the judgement therein rendered. Notwithstanding anything contained herein to the contrary,
in no event shall Surety's aggregate liability under this Bond exceed the Bond Penalty.
It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all
persons, companies and corporations entitled to file claims under Title 15 (commencing with Section 3082) of
Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit
brought upon this bond.
Should the condition of this bond be fully performed, then this obligation shall become null and void,
otherwise it shall be and remain in full force and effect.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to
the terms of the agreement or the specifications accompanying the same shall in any manner affect its
obligations on this bond, it does hereby waive notice of any such change, extension, alteration or addition.
IN WITNESS whereof, this instrument has been duly executed by the principal and surety above
named on 8 TH day of AUGUST, 2002.
ATTEST:
By:
WITNESS:
B
Y
Elizab t Kelly — Wit n s
TOLL CA V, L.P. A CALIFORNIA LIMITED PARTNERSHIP
BY: TOLL CA GP CORP., A CALIFORNIA CORPORATION
GENERAL PARTNER
By:
THE CONTINENTAL INSU NCE COMPANY
By:
Daniel P. Dunigan — Att ey-in-Fa
v