29323-1 La Quinta DunesCITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
TRACT No. 29323-1
OFFSITE IMPROVEMENTS
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement") is made and entered into this
ar day of .20 03 , by
and between La Quinta Dunes 350 California Corporation hereinafter referred to as "Subdivider," and the City
of La Quinta, a municipal corporation�e 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 Tract No. 29323-1 (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:
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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 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. 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
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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 Mgjeure. 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.
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
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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.
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above.
CITY: City of La Quinta
Thomas P. Genovese, City Manager
ATTEST:
lek City Clerk
SUBDIVIDER:
Title: / eC �W-2_ IBC ce-
By:
Title:
Reviewed and Approved:
"Engineer "4
7-1 4 z
Approved as to Form:
Cit Attor ey
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
Date
La Quinta Dunes 350,
5005 Calle San Raphae , ite B-1
Palm Springs, CA 92264
760.325.4289
'Wa-cd Zd, 2 cso 3
Date
Date
�/sl o-9
Date
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Exhibit A
SECURITY - TRACT No 29323-1
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.
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.
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
Streets & Storm Drainage
$442,679.00
$442,679.00
Perimeter Landscaping
867,279.00
867,279.00
Perimeter Wall
90,891.00
90,891.00
Totals:
$1,400,939.00
$1,400,939.00
Professional Fees 10%
$140,094.00
$140,094.00
Construction Fees 10%
140,094.00
140,094.00
No Plans Contingency
206,869.00
206,869.00
Total Bond Amount
$1,887.996.00
$1.887,996.00
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cALIFeRIMIA ALL-PURPOSE ACKNOWLEDGMENT
State of California
• ss.
County of ���-�
On ���03 , before me, C�L I L_V� I
Date Name d Title of Officer (e.g., "Jane Doe, N In
Public")
personally appeared
Name(s) of Signer(s)
PMUS MANLEY
ConvniWon 0 1378908
Notary RAft - Calforria
RivelrWe County
C"n. EOct 14 2006
Place Notary Seal Above
❑ personally known to me
proved to me on the basis of satisfactory
evidence
to be the person(s) whose name(s) is/are
subscribed to the within instrument and
acknowledged to me that he/she/they executed
the same in his/her/their authorized
capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s)
acted, executed the instrument.
WITN,ES,S my hand and official seal.
�A!,� E�::Do, A
Signature of Nota 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: Number of Pages:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer
Signer's Name: -• -' ' - MIX-410111111
❑ Individual Top of thumb here
❑ Corporate Officer — Title(s):
❑ Partner — ❑ Limited ❑ General
❑ Attorney in Fact
❑ Trustee
❑ Guardian or Conservator
❑ Other:
Signer Is Representing:
0 1997 National Notary Association " 9350 De Soto Ave., P.O. Box 2402 - Chatsworth, CA 91313-2402 Prod. No. 5907 Reorder: Call Toll -Free 14MG-876-6827
CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
TRaCT No. 29323-1
ONSITE IMPROVEMENTS
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement") is made and entered into this
/ ss- day of jAgL- .20 0 3 , by
and between La Quinta Dunes 350, , a California Corporation 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 Tract No. 29323-1 (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. Iml2rovement 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).
3) For other forms of security listed in Section 3 B, above, there will be no administrative fee.
T:\PWDEPT\Devdiv\Agreements\SIA\29323-1 sia onsite.doc Page 2 of 6
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\29323-1 sia onsite.doc 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 Mgmeure. 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.
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
T:\PWDEPT\Devdiv\Agreements\SIA\29323-1 sia onsite.doc Page 4 of 6
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.
T:\PWDEPT\Devdiv\Agreements\SIA\29323-1 sia onsite.doc Page 5 of 6
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above.
CITY: City of La Quinta
6,,Zhomas P. Genovese, City Manager
ATTEST:
to", City Clerk �
SUBDIVIDER:
By:
ll/ ,
Title: O�'�.- �CPIOA444��
By
Title:
Reviewed and Approved:
Ci Engineer
Approved as to Form:
Attorney
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
/2 —1
Date
La Quinta Dunes 350,
5005 Calle San Raphae , Suite B-1
Palm Springs, CA 92264
760.325.4289
au, zoo 2. 0"03
Date
Date
-5- 151 0 3
Date
L
Date
T:\PWDEPT\Devdiv\Agreements\SIA\29323-1 sia onsite.doc Page 6 of 6
Exhibit A
SECURITY - TRACT No 29323-1
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.
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.
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
$200,000.00
$200,000.00
Streets & Storm Drainage
883,698.00
883,698.00
Domestic Water
735,339.00
735,339.00
Sanitary Sewer
254,526.00
254,526.00
Dry Utilities
194,040.00
194,040.00
Monumentation
18,375.00
0
Totals:
$2,285,978.00
$2,267,603.00
Professional Fees 10%
228,598.00
226,760.00
Construction Fees 10%
228,598.00
226,760.00
No Plans Contingency
132,555.00
132,555.00
Total Bond Amount
$2,875,729.00
$2,853,678.00
ift-ALIMUNIA ALL-PURPOSE ACKNOWLEDGMENT
State of California
County of.o-�
On /� lto)-t:i. 03 , before me,
Date
personally appeared
PHYLLIS MANLEY
Corrunlssion # 1378908
Notory PubBc - Callfornla
Riverside County
MyCormt. Expire`Oct 166 2006
Place Notary Seal Above
Name
-A - (d.�'
ss.
of Officer (e.g., "Mane Doe,
Name(s) of Signer(s)
❑ ersonally known tome
proved to me on the basis of satisfactory
evidence
to be the person(s) whose name(s) is/are
subscribed to the within instrument and
acknowledged to me that he/she/they executed
the same in his/her/their authorized
capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s)
acted, executed the instrument.
WITNESS my hand and official seal.
�A,1" b��, 0,
Signature of Notary P t
blic
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: Number of Pages:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer
Signer's Name:
❑ Individual Top of thumb here
❑ Corporate Officer — Title(s):
❑ Partner — ❑ Limited ❑ General
❑ Attorney in Fact
❑ Trustee
❑ Guardian or Conservator
❑ Other:
Signer Is Representing:
0 1997 National Notary Association - 9350 De Soto Ave., P.O. Box 2402 - Chatsworth, CA 91313-2402 Prod. No. 5907 Reorder: Call Toll -Free 1-800-876-6827
OUTSTANDING BOND REPORT
Name: La Quinta Dunes 350 Inc.
Tract No. 29323-1
Date of Contract: April 1, 2003
Required Bond Amounts:
Streets/Drainage (offsite)
$442,679
performance/labor & material
Peri. Landscaping (offsite)
$867,279
same
Peri. Wall (offsite)
$ 90,891
same
Prof. Fees (offsite)
$140,094
same
Const. Fees (offsite)
$140,094
same
No Plans Contingency (offsite)
$ 206,869
same
Grading (onsite)
$ 200,000
same
Streets/Drainage (onsite)
$883,698
same
Water (onsite)
$ 735,339
same
Sewer (onsite)
$254,526
same
Dry Utilities (onsite)
$194,040
same
Monumentation
$ 18,375
performance only
Prof. Fees (onsite)
$ 228,598
performance/labor & material
Const. Fees (onsite)
$228,598
same
No Plans Contingency (onsite)
$132,555
same
Dates of Bond Reductions:
Outstanding Bonds and Bond Company: Continental Insurance Company
Amount: Bond No.
$1,887,996 929 285 609
$1,887,996 same
$2,875,729 929 317 220
$ 2,853,678 same
Date Cancelled/Released:
Bond Nb. 929 285 609
Premium: $7,930.00
SUBDIVISION IMPROVEMENTS
Tract Map No. 29323-'1
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT, the City Council of the City of La Quinta has approved the final map for Tract Map
No. 29323-1 , prior to installation of certain designated public hipovanents r�Ired by the
Conditions -of Approval for the subject map, in accordance with the Cardbmis Map Act (Govemment Code
Section 66462)
WHEREAS, the City Council of the City of La Quinta, State of California, and
Lennar Homes. of California, Inc. hereinafter designated as ("principal")
have entered irrbo an agreement whereby principal agrees to install complete certain designated public
improvements, which said agreement, deted 200, and identified as
Tract Map No. 2 9 3 2 3 -1_ , is hereby referred to and made a part hereof; and
WHEREAS, said principal is required under the terns of sold agreement to furnish a bond for the
faithful performance of said agreement
NOW, THEREFORE, we, the principal and The Continental Insurance Company
as surety, are held and firmly bound unto the City of La OUSE here OG' calCity "), in 11he penal at
of One Million Eight Hundred Eighty Seven* DOLLARS ($ 1 887 996.00 lawful
money of the Unified Ste , for the payments of which sum well and truly to be made, wo ind 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 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
porkwm the covenants, conditions and provisions In the said agreement and any alteration thereof made as
thereln provided, on his or their part, to he 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 indemnity and save
harrniess the City, 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 obligation secured hereby and in addition to the face arnount specified therefor, two
shall be included costs and reasonable expenses and fees, including reasonable attomey's fees, Incurred
by City in successfully enforcing such obligation, all to be taxed as costs and included In any judgment
rendered.
*Thousand Nine Hundred Ninety Six and no/100
F201 • Pefomw= SW Pepe 1 of 2
Bond No. 929 285 609
Premium included in charge
for performance bond
SUBDIVISION IMPROVEMENTS
Tract Map No. , 29323-I,..
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT, the City Council of the City of La Quinta has approved the final map for Tract Map
No. 29323-1 , prior to installation of certain designated public improvements required by the
Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code
Section 66462)
WHEREAS, the City Council of the City of Le Qutnta. State of California, and
Lennar Homes of California, Inc. hereinafter designated as Oft principal" have
entered into an agreement whereby the principal Owen to install and complete certain designated publics
improvements, which agreement. dated , 200 , and iderdilied as
Traci Map No. 2 9 3 2 3 -_I _ „ _, is hereby r leen+sd to and nrede a Pert hereofi and
WHEREAS, under the terms of the agrdement, the princ4ml is required before entering upon the
performance of the work, to file a good and sufficient payment bores w1'th the City of Le Quints to secure the
claims to which reference Is made in Title 15 (commencing with Section 3062) of Part 4 of Division 3 of the
Civil Code of the State of California.
NOW. THEREFORE, the principal and the undersigped as corporate surety, are held firmly bound
unto the City of La Quints and all contractors, subcontractors, laborers, rnaterielmen, and other persons
employed in the perfonrance'of the agreement and referred to In Title 15 (commencing with Section 3082)
of Part 4 of Division 3 of the Civil Code in the sum of One Million Eight Hundred Eighty Seven+
DOLLARS (= 1, 887, 996.00 ), for maiorlals &y&W or 101w thereon of any kind, or for
amounts due under the Unemployment Insurance Act wkh respect to this woric or labor, that the surety will
pay the same in an amount not exceeding the amount hereinabove set Forst, and also in case suit is brought
upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees,
irrclud'mg reasonable attomey's fees, in erred by city in suooessfuMy ankroft this obligation, to be awarded
and fbW by the oourL and to be taxed as costs and to be included in the Judgment therein rendered.
.It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all
persons, companies. and corporations en§*W 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 bo them or their assigns in any cult
brought upon this bond.
Should the condition of this bond be fully peftmed, than this obligation shall become null and void,
otherwise R shall be and remain in full force and effect.
*Thousand Nine Hundred Ninety Six and no/100
F202 - LOW Dnd MsNft Maid Pap 1012
Bond No. 929 317 220
Premium: $12,078.00
SUBDIVISION IMPROVEMENTS
Tract Map No. 29323-1
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT, the City Council of the City of La Quinta has approved the final map for Tract Map
No. 29323 - I , prior to installation of certain designated public improvements required by the
Conditions d Approval for the subject map, in accordance with the California Map Act (Government Code
Section 66462)
WHEREAS, the City Coundl of the City of La Quinta, State of California, and
Lennar Homes of California, Inc. hereinafter designated as ("principal")
I reel to install and complete certain deal nated ublid
have ordered Into an agreement whereby principa ogre" pl 9 P
improvements, which said agreement, dated , 200 , and identified as
Tract Map No. 2 9 3 2 3- I_ _ _, is hereby referred to and made a part hereof; and
WHEREAS, said principal is required under the terms of said agreement to famish a bond for the
faithful performance of said agreement.
NOW, THEREFORE, we, the pdndpel and The Continental Insurance Company,
as surety, are held and firmly bound unto the City of La Quinta hereinafter called ("City"), in the penal sum
Of TWO million ELSht Hundred Seventy Five* DOLLARS ($ 2, 875, 729. 00 lawful
money of the Unified 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 shove bounded principal, his or its heirs, executors,
administrators, successors or assigns, shall In all things stand to and abide by, end well and truly keep and
perform the covenants, conditions and provisions In the sold 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
hermlew the City, its officers, agents and employees, as therein stipulated, then this obligation shell 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 spedRed therefor, two
shall be included costs and reasonable expenses and fees, including reasonable attomey's fees, Incurred
by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment
rendered.
*Thousand Seven Hundred Twenty Nine and no/100
F201 - ftformarm Bond Pop 1 of 2
Bond No. 929 317 220
Premium included in charge for
performance bond
SUBDIVISION IMPROVEMENTS
Tract Map No. 29323 -I
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT, the City Council of the City of La Quinta has approved the final map for Tract Map
No. 2 9 3 2 3- I , prior to installation of certain designated public improvements required by the
Condltlons of approval for the subject map, in accordance with the Cal fomle Map Act (Goverment Code
Secton GW2)
WHEREAS, the City Council of the City of le Quanta, State of California, and
Lennar Homes of California, Inc. hereinafter designated as "the prlrtttipal" have
entered into an agreement whereby the principal agrees to install and complete certain designated public
improvements, which agreement, dated , 200 , and identified as
TractMap No. 2 9 3 2 3 - L _ is hereby referred to and made apart hereof, and
WHEREAS, under the terms of the agreement, the principal is required before entering upon the
performance of the work, to file a good and sufficient payment bond with the City of La Quints 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 or the State of Callfomia.
NOW, THEREFORE, the principal and the undersigned as corporate surely, are held firmly bound
unto the City of La Quinta and all contractors, subcontractors, laborers, materialmen, and other persons
employed in the performance of the agreement and referred to in Title 15 (commencing vAth Section 3082)
of Pert 4 of Division 3 of the Civil Code in the sum of Two Million Eight Hundred Fif ty Three*
DOLLARS ($ 2, 853, 678.00 J, for materlals furnished or labortherson of any kind, or for
amounts due under the Unemployment knsurarroe Act with respect to this work or labor, #W the surety will
pay the same in an amount not exceeding the amount heneinabove set forth, and also in case suit is brought
upon this bond, will pay, In addition to the face amount thereof, costs and reasonable expenses and fees,
including reasonable attorney' s fees, incurred by city in suocessUly enforcing this obligation, to be awarded
and fixed by the court, and to be taxed as costs and to be included In the Judgment therein rendered.
.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 Secdon 3062)
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 $UK
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.
*Thousand Six Hundred Seventy Eight and no/100
F2o2 - Labor and Meft" Bald P"s 102