31123-1 Vista La Quinta PartnerCITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
TRACT MAP NO. 31123-1
OFF -SITE IMPROVEMENTS
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement") is made and entered into this
9 A day of
Do band between VISTA LA QUINTA PARTNERS, LLC. a CALIFORNIA LIMITED
y
LIABILITY COMPANY hereinafter referred to as Subdivider, and the City of La Quinta, a municipal
f California, hereinafter referred to as "City."
corporation of the State o
RECITALS:
A. Subdivider has prepared and filed a final map or Tract 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. 31123-1 (the Co"Tract")
pursuant to the provisions of Section 66410, et sec. of the California Government
"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
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.
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B. improvement security shall conform with Section 66499 of the California Government Code and
p
one or more of the following:
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 o the
of Treasury Ocular 570 nt
Code, issued by a surety or sureties Listed in the U.S. Department
(latest version).
3) Certificates of deposit, in City's name, from one or more financial financial institutions subject
to
or
regulation by the state or federal government and having a quality rating of
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 institutio {the meeting
complton
the
requirements of Paragraph (3), pledging that the funds necessary to carry constitute a trust fund
of the Improvements are on deposit, guaranteed for payment
which is not subject to levy or attachment by any creditor of the depositor until released by
suant to
City. Letters of credit shall guarantee that all or any portion of the 'ffund t such wavailabritten ttenrdemand
the letters of credit will be paid upon the written demand of City payment, including roof of
need not present documentation of any type as a condition of g P
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 shalluch that City on its authorizes has
at
the letter of credit will be automatically renewed njotsce from the financial institution of
expiration or until sixty (60) days after City receives
intent to allow expiration of the letter of credit.
P
5)
A lien u on the subdivided property, if City finds that it would not be in the public interest
the
to
require the installation of the Improvements sooner than two (2) years after recordation
final map or Tract map for which the Improvements are required.
cost of the The
en and all provide nclude
collateral value of three (3) times the all building s and improvements thereon, or that may be
the power of sale of the real property, g appurtenances thereunto
erected upon or made thereto, together with all hereditaments and
belonging, or in any wise appertaining, and the reservations, remainders,
,rents,at issues, and
profits thereof. The collateral value of the property shall be established
expense through an appraisal approved by City.
6 An instrument of credit from an agency of the state, federal or local government,
when
a
ny
agency of the state, federal, or local government provides at least Twenty Percent( ) of
the financing for the Improvements.
7)
When Subdivider is a non-profit organization, security may be negotiable bonds, of the
kind
in
approved for securing deposits of public moneys with City or in favor of City, as specified
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 estimated amount
o f the
of
performance security shall equal One Hundred Percent (100 /o)of the.
constructing the Improvements, including paymentp of Ian check and permit fees, as estimated by
of
the City Engineer or a duly authorized representative of the City Engineer. The amount
t as
Payment security shall equal the amount of the amount of performances ty, P
otherwise set forth in Exhibit A, and shall be furnished as a separate security. Warranty security
s otherwise set
shall equal Ten Percent (1.0%) of the amount of performance security except a
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, Tract
map or waiver of Tract 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
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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 3.13., 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.
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 /o) 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
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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.
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 asset 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 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.
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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 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.
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r
N �
C. Neither party to this Agreement relies upon any warranty or representation not contained in this
Agreement.
g
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
es from the non -prevailing
party shall be entitled to prompt payment of its reasonable attorneys f e
party.
F. Any failure or delay by either party in asserting any of its rights and reme ies ass paovided for
to ny default
shall not operate as a waiver of any default or of any such rights
hereunder.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
written above.
CITY: City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
Thomas P. Genovese, City Manager Date
Principal Address
Vista La Quinta Partners, LLC
1332 Anacapa Street, Ste. 200
Santa Barbara, CA 93101
By: ca tE- C - T3 rn �-✓
Date
Title: V ' Q
By: Date
Title:
Reviewed an pproved:
City ngin r Date
Approved as to Form:
• /z Z8'
City ey DaEMWW kit te
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Exhibit A
OFF -SITE SECURITY — TRACT MAP NO. 31123-1
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
Street Improvements
$
33,192
$
33,192
Landscaping
$
162,000
$
162,000
• Block Walls
$
255,230
$
255,230
Monumentation
$
15,000
$
-
Totals
$
465,420
$
450,420
Standard 10% Contingency
$
46,540
$
45,040
Total Construction Cost
$
511,960
$
495,460
Professional Fees, Design 5%
$
25,600
$
24,770
Professional Fees, Const 10%
$
51,200
$
49,550
No Plans Contingency 15%
$
76,790
$
74,320
Bond Amount *
$
6659550
$
644,100
* Labor bond exceeds required amount by $21,450 as per bonds provided to city.
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
State of California
� � SS.
County of — `� 1f_ � �-
On ' Dj . (�� ��_ before me, N)el a + Cog
p Name and Title o Officer (e.g., "Jane Doe, Notary Public")
personally appeared - &Mrv-.�
N-OfName(s) of Signer(s)
NM�"nE K. HAI1FNLp
Comm # 14766N
Noay Nft . CaWaMb
❑ pKsonally 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.
WITNESS my hand and fficial seal.
A-Q.-
Signature fRotary ublic
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: 0f_-G„ .- nr1s4e -wz"w l ar nr%p . .
Document Date: .e 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:
01999 National Notary Association - 9350 De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313-2402 - www.nationalnotary.org Prod. No. 5907 Heoraer: (;an ion-mee 1-ow-aio-ooc1
L
CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT A GREEMENT
TRACT MAP NO. 31123-1
ON -SITE IMPROVEMENTS
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement") is made and entered into this
day of fgc 20
cQoo by and between VISTA LA QUINTA PARTNERS, LLC. a CALIFORNIA LIMITED
LIABILITY COMPANY hereinafter referred to as "Subdivider," and the City of La Quinta, a municipal
corporation of the State of California, hereinafter referred to as "City."
RECITALS:
A. Subdivider has prepared and filed a final map or Tract 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. 31123-1 (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.
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B. Improvement security shall conform to 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.
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 suchtime
thth t City
as authorizes
sits
expiration or until sixty (60) days after City receives notice from
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 Tract 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 the estimated amount
o f the
of
performance security shall equal One Hundred Percent (100 / )
of constructing the Improvements, including paymentp of Ian 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, Tract
map or waiver of Tract 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
2of7
T:\Project Development DivisionTeWOPment ProjectsWgreementsN.SIAtSIAs in ProgressUa Cantera_31123QNSITE_SIA 2.doc
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 3.13., 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 3.13., 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.
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
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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 ranuires 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.
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 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.
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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 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.
TAProject Development Division\Development ProjectMAgreements\SIA\SIAs in Progress\La Cantera_31123\ONSITE_SIA 2.doc
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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: City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
za
Thomas P. Genovese, City Manager Date
ATTEST:
Principal Address
VISTA LA QUINTA PARTNERS, LLC
1332 ANACAPA STREET, STE. 200
SANTA BARBARA, CA 93101
r--
Date
Title: . Q
By:
Date
Title:
Reviewed and Approved:
z-I o
Cit ngine Date
Approved as to Form:
City Aftomey Date
TAProject Development Division0evelopment Projects\Agreements\SIA1S1As in Progress1a Cantera_3112310NSITE_SIA 2.doc
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r
r
t
Exhibit A
ON -SITE SECURITY - TRACT MAP NO. 31123-1
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
$
6,063
$
.6,063
Drainage
$
24,912
$
24,912
Street Improvements
$
87,124
$
87,124
Domestic Water
$
182,430
$
182,430
Sanitary Sewer
$
20,726
$
20,726
Electrical Utilities
$
145,060
$
145,060
Monumentation
$
-
$
-
Totals
$
466,310
$
466,310
Standard 10% Contingencey
$
46,630
$
46,630
Total Construction Cost
$
512,940
$
512,940
Professional Fees, Design 5%
$
25,650
$
25,650
Professional Fees, Const 10%
$
51,290
$
51,290
No Plans Contingency 15%
$
76,940
$
76,940
Bond Amount $ 666,820 $ 6669820
TAProjed Development DivisionTevelopment Projects%greementsOMSIAs in Progress1a Cantera_3112310NSITE SIA 2.doc
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
State of California
ss.
County of,
On _" O 2�.f 2� before me, t"� q 4, L�9 -
pT = r( �t � Namand itle of icer (e.g., "Jane Doe, Notary Public")
personally appeared ../L�� 3'TT' J • Brq
Names) of Signer(s)
N�1iE K
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Wmailie Co.,*
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COMMb )n #f 117613M
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MyConw �� 6.
❑ p� rsonally known to me
l 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.
Signature of Ndta 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: �.Q- tons Q. Cyr .f)-}�P�
Document Date: NV r . i D r 2M Number of Pages:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer
Signer's Name:
❑ Individual Top of Numb here
❑ Corporate Officer — Ttle(s):
ElPartner — ElLimited ElGeneral
ElAttorney-in-Fact
❑ Trustee
❑ Guardian or Conservator
❑ Other:
Signer Is Representing:
01999 National Notary Association " 9350 De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313-2402 - www.nationainotary.org Prod. No. 5907 Reorder: Call Toll -Free 1-800-876-6827
Bond 213 58 16
Premium $ 12,983.00
SUBDIVISION IMPROVEMENTS
Tract Map No. 31123-1
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. _. 31123-1 , 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 La Quinta, State of California, and
V J§ta La Quinta Partners, LLC _ hereinafter designated as ("principal")
have entered into an agreement whereby principal agrees to install and complete certain designated public
improvements, which said agreement, dated , 200_ , and identified as
Tract Map No. 31123-1 , is hereby referred to and 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 Insurance Company^ of The West ,
as surety, are held and firmly bound pinto the City of La Quinta hereinafter called ("City"), in the penal sum
of Six Hundred Sixt Five Thousand*** DOLLARS ($ 665,550, 00 ) lawful
money of the United States, for a payment of which sum well and truly to be made, we bind ourselves, our
heirs, successors, dxecutors and administrators, jointly and severally, firmly by these presents.
***Five Hundred Fifty Dollars
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
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, its officers, agents and employees, as therein stipulated, then this obligation shall become
null and void; otherwise it shall be and remain in hull force and effect.
As a part of the obligation secured hereby and in addition to the face amount specified there%r, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred
by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment
rendered.
F201- Perb mane Bond Pape 1 of 2
SUBDIVISION IMPROVEMENTS
Tract Map No. 31123-1
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. ^ 31123-1 A 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 La Quinta, State of California, and
Vista La Quints Partners, LLC hereinafter designated as "the principar have
entered into an agreement whereby the principal agnaes to install and complete certain designated public
improvements, which agreement, dated , 200_, and identified as
Tract Map No. 31123-1 , is hereby referred to and made a part 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 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, the principal and the undersigned as corporate surety, 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 with Section 3082)
of Part 4 of Division 3 of the Civil Code in the sum of Six Hundred Sixty Five Thousand***
_— DOLLARS ($ 665 , 550.00 ), for materials furnished or la thereon of any kind, or for
amounts due under the Unemployment Insurance Act with respect to this work or labor, that the 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, in addition to the face amount thereof, costs and reasonable expenses and fees,
including reasonable attorney' s fees, incurred by city in successfully 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 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.
***Five Hundred Fifty Dollars
F202 - Labor and Material Bond Pape 1 of 2
July 7, 2004
PASeSRT NATION MM FbK IRREVOCABLE STANDBY LETTER OF CREDIT NO. 1316
Beneficiary: Amount: $40,000.00
City of La Quinta
Public Works Dept.
78-495 Calle Tampico
La Quinta, Ca. 92253
To Beneficiary:
We hereby establish our irrevocable Standby Letter of Credit in your favor, by order of
Vista La Quinta Partners, LLC, 223 East De La Guerra, Santa Barbara, CA, 93101.
The amount set forth above will be available to you by submission of your Sight Draft(s),
through proper clearing channels (consult your bank), accompanied by this original
Letter of Credit and Beneficiary's officially -signed statement certifying that:
Vista La Quinta Partners, LLC, a California Limited Liability Company, has failed to
perform dust abatement of Tract #31123 and that Vista La Quinta Partners, LLC has
been notified in writing of the failure to perform at least ten (10) days prior to drawing(s).
This Letter of Credit guarantees that all or any portion of the funds available pursuant to
Letter of Credit No. 1316 will be paid upon the written demand of the City and that such
written demand need not present documentation of any type as a condition of payment,
including proof of loss.
Each draft, payable at sight, must state on its face, "Drawn under Palm Desert National
Bank Letter of Credit No. 1316 dated July 7, 2004".
Drafts may not be presented for purposes, later than the expiration of the Letter on July
6, 2005. This Letter of Credit is transferable only upon our prior approval and payment of
an appropriate transfer fee.
We hereby agree to duly honor drafts properly drawn on, and in strict compliance with
the terms of, this Letter of Credit, on presentation during normal banking hours to this
bank at 73-745 El Paseo, Palm Desert, CA 92260, ATTN: Note Dept. This Letter of
Credit is subject to law of the State of California, including the Uniform
Commercial Code, and International Chamber of Commerce rules pertaining to
Uniform Customs and Practice for Documentary Credits (ICC Publication #500,
1993 revision).
TO BE VALID, THIS LETTER OF CREDIT MUST BE SIGNED BY TWO OF THIS
BANK'S CORPORATE OFFICERS.
PALM DESERT NATIONAL BANK
By. By:
Lozan Steve Christian
Senior Vice Preside Senior Vice President
73-745 El Paseo, Palm Desert, California 92260-4328 (760) 340-1145 • 70-390 Highway 111, Rancho Mirage, California 92270-5100
I;
July 7, 2004
PALM !ESE0T iI
NATION M,,WFK IRREVOCABLE STANDBY LETTER OF CREDIT NO. 1317
Beneficiary: ount: $62,000.00
City of La Quinta
Public Works Dept.
78-495 Calle Tampico
La Quinta, Ca. 92253
To Beneficiary:
We hereby establish our irrevocable Standby Letter of Credit in your favor, by order of
Vista La Quinta Partners, LLC, 223 East De La Guerra, Santa Barbara, CA, 93101.
The amount set forth above will be available to you by submission of your Sight Draft(s),
through proper clearing channels (consult your bank), accompanied by this original
Letter of Credit and Beneficiary's officially -signed statement certifying that:
Vista La Quinta Partners, LLC, a California Limited Liability Company, has failed to
perform rough grading of Tract #31123 and that Vista La Quinta Partners, LLC has been
notified in writing of the failure to perform at least ten (10) days prior to drawing(s).
This Letter of Credit guarantees that all or any portion of the funds available pursuant to
Letter of Credit No. 1317 will be paid upon the written demand of the City and that such
written demand need not present documentation of any type as a condition of payment,
including proof of loss.
Each draft, payable at sight, must state on its face, "Drawn under Palm Desert National
Bank Letter of Credit No. 1317 dated July 7, 2004".
Drafts may not be presented for purposes, later than the expiration of the Letter on July
6, 2005. This Letter of Credit is transferable only upon our prior approval and payment of
an appropriate transfer fee.
We hereby agree to duly honor drafts properly drawn on, and in strict compliance with
the terms of, this Letter of Credit, on presentation during normal banking hours to this
bank at 73-745 El Paseo, Palm Desert, CA 92260, ATTN: Note Dept. This Letter of
Credit is subject to law of the State of California, including the Uniform
Commercial Code, and International Chamber of Commerce ruffles pertaining to
Uniform Customs and Practice for Documentary Credits (ICC Publication #500,
1993 revision).
TO BE VALID, THIS LETTER OF CREDIT MUST BE SIGNED BY TWO OF THIS
BANK'S CORPORATE OFFICERS.
.PALM DESERT NATIONAL BANK
By� By:11
QJudy Lozan Steve Christian
Senior Vice Preside Senior Vice President
73-745 El Paseo, Palm Desert, California 92260-4328 (760) 340-1145 • 70-390 Highway 111, Rancho Mirage, California 92270-5100
Bond 213 58 17
"Premium $ 139002.00
SUBDIVISION IMPROVEMENTS
Tract Map No. 31123-1
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. 31123-1 , 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 La Quinta, State of California, and V i s t a L a Qnfnta P a r t n A r a T T r hereinafter designated as ("princi al
p ")
have entered into an agreement whereby principal agrees to install and complete certain designated public
improvements, which said agreement, dated , 200_ , and identified as
Tract Map No. 31123-1 , is hereby referred to and 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 Insurance Company -of 'the West
as surety, are held and firmly bound unto the City of La Quinta hereinafter called ("City'l, in the penal sum
of Six Hundred Sixty Six Thousand*** DOLLARS ($ 666.8 0.00 )lawful
ourselves, our
money of the United States, for the payment of which sum well and truly to be made, we bind
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
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, 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 amount specified therefor, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred
by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment
rendered.
***Eight Hundred Twenty Dollars
F201- Performance Boras Page 1 of 2
SUBDIVISION IMPROVEMENTS
Tract Map No. 31123-1
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. 31123-1 , 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 La Quinta, State of California, and
Vista La Quinta Partners, LLC hereinafter designated as The principal" have
entered into an agreement whereby the principal agrees ton identifiedi111 and as plete certain designated public
improvements, which agreement, dated 200_, w
Tract Map No. 31123-1 , is hereby referred to and made a part 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 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, the principal and the undersigned as corporate surety, 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 with Section 3082)
of Part4 of Division 3 of the Civil Code in the sum of Six Hundred Sixty Six Thousand***
DOLLARS ($ 666 , 820.00 ), for materials furnished or labor thereon of any kind, or for
amounts due under the Unemployment Insurance Act with respect to this work or labor, that the 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, in addition to the face amount thereof, costs and reasonable expenses and fees,
including reasonable attorney' s fees, incurred by city in successfully 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 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.
***Eight Hundred Twenty Dollars
F202 - Labor and Ma Wal Bond
Pepe 1 of 2
PDNB Bankiiig made easy.
Palm Desert National Bank
Palm Desert National Bank
Letter of Credit Amendment
Amendment Date: 7/11/05 at Palm Desert, California
Letter of Credit Number: 1316, originally dated: 7/7/04
In the amount of $ 40,000.00 to Beneficiary City of La Quinta Public Works Dept.
by order of Vista La Quinta Partners, LLC, is hereby amended as follows:
Expiration: Change expiration date from 7/6/05 to 7/6/06
All other terms and conditions, as originally defined, remain in full force and effect.
Palm Desert National Bank
Count
By:
Lozano
Senior Vice Presiden
ersigned:
By:
Steve hristian
Senior Vice President
Beneficiary: please indicate your receipt and acknowledgment on the enclosed
copy of this Amendment.
Beneficiary's authorized signer: Authorized Signer/Title
and dated: i5�/off
Member FDIC
® PUNB
Palm Desert National Bank
Palm Desert National Bank
Letter of Credit Amendment
Amendment Date: 7/11/05 at Palm Desert, California
Letter of Credit Number: 1317, originally dated: 7/7/04
Banking made easy.
In the amount of $ 62,000.00 to Beneficiary City of La Quinta Public Works Dept.
by order of Vista La Quinta Partners, LLC, is hereby amended as follows:
Expiration: Change expiration date from 7/6/05 to 7/6/06
All other terms and conditions, as originally defined, remain in full force and effect.
Palm Desert National Bank
Countersi
By:
Lozan
Senior Vice reside to
g
By:
ned.
Steve Christian
Senior Vice President
Beneficiary: please indicate your receipt and acknowledgment on the enclosed
copy7endment.
Beneficiary's authorized signer -
Authorized rY ner-
9
Authorized Signer/Title
7
and dated: /S1 S—
Member FDIC
Memo
To: Anthony Colarossi
From: Teri Marin,4�_ —
Date: 7/11 /2005
Re: Vista La Quinta Partners, LLC
Enclosed you will find two Letter of Credit Amendments # 1316 & 1317. These Letters have been
extended for another year. One copy is for you to sign and return back to us. The original is for you to
keep for your files. For your convenience, I have enclosed a return addressed envelope for you. Thank
you for your cooperation and prompt attention to this matter.
0 Page 1
OUTSTANDING BOND REPORT
Name: Vista La Quinta Partners (La Cantera)
Tract No. 31123-1
Date of Contract: December 29, 2004
Required Bond Amounts:
Not Part of SIA
$62,000 -
Rough Grading
$40,000 -
PM 10
On -Site:
Grading
$ 6,063
performance/labor materials
Drainage
$ 24,912
same
Streets
$ 87,124
same
Water
$182,430
same
Sewer
$ 20,726
same
Utilities
$145,060
same
10% Contingency
$ 46,630
same
Prof. Fees Design
$ 25,650
same
Prof. Fees Const.
$ 51,290
same
No Plan Contingency
$ 76,940
same
Off -Site:
Streets
$ 33,192
same
Landscaping
$162,000
same
Block Walls
$255,230
same
Monumentation
$ 15,000
performance only
10% Contingency
$ 46,540 / $45,040
Prof. Fees Design
$ 25,600 / $24,770
Prof. Fees Const.
$ 51,200 / $49,550
No Plans Contingency
$ 76,790 / $74,320
Dates of Bond Reductions:
Outstanding Bonds and Bond Company: Insurance Company of the West & Palm
Desert National Bank
FAT "MST01 T .
$ 62,000
$ 40,000
Rnnd Kin
LOC #1317
LOC# 1316
$666,820 2135817
$666,820 (L&M) same
$665,550 2135816
$665,550 (L&M) same
(L&M over required amt.)
Date Cancelled/Released:
`Recording Requested By
�r and
When Recorded Mail To:
City of La Quinta
P.O. Box 1504
La Quinta, CA 92247
Attn: City Engineer
For the benefit of the
City of La Quints
- No Fee -
6103 of the Govt. Code
DOC # 2007-0389726
06/14/2007 08:00A Fee:13.00
Page 1 of 3
Recorded in Official Records
County of Riverside
Larry W. Ward
Assessor, County Clerk 6 Recorder
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CERTIFICATE OF CORRECTION
(MONUMENT SUBSTITUTION)
TRACT NO.31123-1
Owner: Vista La Quinta Partners, LLC,
a California Limited Liability Company
— " Page I of
I, Ken Nussbaum, certify that I am a Licensed Land Surveyor of the State of California; that Tract Map No.
31123-1 was prepared by Lloyd W. Watson R.C.E. No. 26662 and is filed in Book 371, Pages 71-74 of Maps, Records
of Riverside County, California, and that the following corrections to said map are made by me in accordance with
Chapter 3, Article 7, Section 66469 through Section 66472 of the Subdivision Map Act.
I am the Land Surveyor assuming the responsibility for placement of final monuments, in accordance with
Chapter 4, Article 9, Section 66498 of the Subdivision Map Act. I hereby certify that a survey was performed by me
or under my direction in January, 2007 which verified information contained on said map. Monument descriptions are
corrected as follows:
INCORRECT DATA A INDICATES SET COPPERWELD FLUSH STAMPED "RCE 26662"
CORRECT DATA A INDICATES SET COPPERWELD FLUSH STAMPED "LS 6298"
INCORRECT DATA 0 INDICATES SET 1" I.P. FLUSH W/TAG STAMPED "RCE 26662".
CORRECT DATA 0 INDICATES SET 1" I.P. FLUSH W/TAG STAMPED "LS 6298".
INCORRECT DATA SET 1" O.D.I.P. AT THE REAR LOT CORNERS W/TAG STAMPED
" PCE 26662" UNLESS OTHERWISE NOTED.
CORRECT DATA SET I" I.P. AT THE REAR LOT CORNERS W/TAG STAMPED
"LS 6298" UNLESS OTHERWISE NOTED.
INCORRECT DATA SET LEAD & TAG STAMPED "26662" IN CURB AT THE
PROLONGATION OF SIDE LOT LINES UNLESS OTHERWISE
NOTED.
CORRECT DATA SET LEAD & TAG STAMPED "LS 6298" IN CURB AT THE
PROLONGATION OF SIDE LOT LINES UNLESS OTHERWISE
NOTED.
Page 2 of 2
There are no fee property owners affected by these corrections.
Dated: -" —
State of California )
) ss.
County of Riv€[Std 1
5701
me, _
personally appeared Von ijJSSbvwn
TRI-STATE LAND SURVEYORS & CIVIL ENGINEERS, INC.
Ken Nussbaum
L.S. 6298, Expires 9/30/08
LAND 3G G
J� NU SBAUM 9�4
6298 M
N� Exp :;A)_c��
Q
9T�OF CAL%F-
❑ personally know to me - OR - 'proved to me on the basis of satisfactory evidence to be the person(o)whose name(a)
is/am subscribed to the within instrument and acknowledged to me that he/sbr&h executed the same in his/h fktfeir
authorized capacity(i*, and that by hiss signature(4 on the instrument the person(*, or the entity upon behalf
of which the person(4) acted, executed the instrument.
Witness My and and Offici a KAREN P. LOWE
CONN. 01462149 M
&.NUryoPUMl CaI6alnla N
RIVERSIDE COUNTYy Comm. Exp. Jen 91, 2006
SfGNAT4O TARY
CITY $NGINEER'S CERTIFICATE
This Certificate of Correction has been examined by the undersigned and my examination discloses that the changes
indicated herein are authorized by and comply with Government Code Section 66469 of the Subdivision Map Act.
Dated: d1
)thy R. Jon n, P.E
Engineer,
E.4584�PCpB.
y �A
0
Cr No.45343
S'l CIVIL
Rrs OF cn��Ft
° MARRY W. WARD
COUNTY OF RIVERSIDE
ASSESSOR -COUNTY CLERK -RECORDER
b,
CERTIFICATION
Recorder
P O. Box 751
River nde, CA 92502-0751
(951)486-7000
www riversidmr cam
Pursuant to the provisions of Government Code 27361.7, 1 certify under the penalty of perjury
that the following is a true copy of illegible wording found in the attached document:
(Print or type the page number(s) and wording below):
A6-05 a
Ci1-7 al' 1-4 0'V'1- A
�cG71�� OR-J%t'J'S/u�AL �NG-irEf>L
Date: FynpO 7
Signature: 2G�(�
Print Name: /�i�"/ 1W 79aiL6uJK/
2007-0389'26
ACR 601 P-AS4RFA (Rev 09/2005) AvaLloble
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Y
Recording Requested By
+"� and
When Recorded Mail To:
City of La Quinta
P.O. Box 1504
La Quinta, CA 92247
Attn: City Engineer
For the benefit of the
City of La Quinta
-No Fee -
6103 of the Goat. Code
DOC # 2007-0389727
06/14/2007 08:00A Fee:13.00
Page I of 3
Recorded in Official Records
County of Riverside
Larry W. Ward
Assessor, County Clerk d Recorder
IIIIIIIIIIIIIIII IIIIIIIIIIIIIN111111III1111111111111
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CERTIFICATE OF CORRECTION
(MONUMENT SUBSTITUTION)
TRACT NO.31123-2
Owner: Vista La Quinta Partners, LLC,
a California Limited Liability Company
GIq
�C
Page 1 of 2
I, Ken Nussbaum, certify that I am a Licensed Land Surveyor of the State of California; that Tract Map No.
31123-2 was prepared by Lloyd W. Watson R.C.E. No. 26662 and is filed in Book 391, Pages 49-52 of Maps, Records
of Riverside County, California, and that the following corrections to said map are made by me in accordance with
Chapter 3, Article 7, Section 66469 through Section 66472 of the Subdivision Map Act.
1 am the Land Surveyor assuming the responsibility for placement of final monuments, in accordance with
Chapter 4, Article 9, Section 66498 of the Subdivision Map Act. I hereby certify that a survey was performed by me
or under my direction in January, 2007 which verified information contained on said map. Monument descriptions are
corrected as follows:
INCORRECT DATA INDICATES FOUND 1" I.P. FLUSH W/TAG STAMPED "RCE 26662"
PER TRACT NO. 31123-1, MB 371/71-74.
CORRECT DATA INDICATES FOUND 1" I.P. FLUSH W/TAG STAMPED "LS 6298" PER
TRACT NO. 31123-1. MB 371/71-74.
INCORRECT DATA INDICATES FOUND COPPERWELD FLUSH STAMPED "RCE 26662"
PER TRACT NO. 31123-1, MB 371/71-74.
CORRECT DATA • INDICATES FOUND COPPERWELD FLUSH STAMPED "LS 6298"
PER TRACT NO. 31123-1, MB 371/71-74.
INCORRECT DATA SET 1" O.D.I.P. AT THE REAR LOT CORNERS W/TAG STAMPED
"RCE 26662" UNLESS OTHERWISE NOTED.
CORRECT DATA SET 1" I.P. AT THE REAR LOT CORNERS W/TAG STAMPED
"LS 6298" UNLESS OTHERWISE NOTED.
INCORRECT DATA SET LEAD & TAG STAMPED "26662" IN CURB AT THE
PROLONGATION OF SIDE LOT LINES UNLESS OTHERWISE
NOTED.
CORRECT DATA SET LEAD & TAG STAMPED "LS 6298" IN CURB AT THE
PROLONGATION OF SIDE LOT LINES UNLESS OTHERWISE
NOTED.
J Page 2 of 2
There are no fee property owners affected by these corrections.
u TRI-STATE LAND SURVEYORS & CIVIL ENGINEERS, INC.
Dated: %�� 21�liL✓.yi/
Ken Nussbaum
L.S. 6298, Expires 9/30/08 ?y�O EAND Sej,
(V KEN Gtn�
U NUSSBAUM 0
J No. 6298 D
E"p
9�.
�OFCAUFOP/
State of California )
ss.
County of R+verride"f As � (� 1 , d �
On Arm 1 I '7 before me, I Ynlf/1 P � /J� Pr��'L
personally appeared _N' J�1t l
❑ personally know to me - OR - Kproved to me on the basis of satisfactory evidence to be the person(i) whose name(&)
is/ar* subscribed to the within instrument and acknowledged to me that he/she44ey executed the same in his/hofi4keir
authorized capacity(io&), and that by his/hofi4hair signature(, on the instrument the person(e), or the entity upon behalf
of which the person(*) acted, executed the instrument.
P.
�KAREN P. LOWE
�,. COMM.01482149 m
t�1 Notary PuWDnCa81omia Co
W RI MWECOUtm +
My Comm. E2p. Jan 31, 2008
CITY ENGINEER'S CERTIFICATE
This Certificate of Correction has been examined by the undersigned and my examination discloses that the changes
indicated herein are authorized by and comply with Government Code Section 66469 of the Subdivision Map Act.
Dated:/
11 Tii othy R. Jonas o , P.E.
_ci Engineer, City of La
R.C.E.45843, Expire
No. 4GJ43
IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIII 06/�1040200£$08�OR v��TOF
LARRY W. WARD
_ COUNTY OF RIVERSIDE
ASSESSOR -COUNTY CLERK -RECORDER
CERTIFICATION
Recorder
P O. Box 751
Riverside, CA 92502-0751
(951)486-7000
www riversideacr com
Pursuant to the provisions of Government Code 27361.7, 1 certify under the penalty of perjury
that the following is a true copy of illegible wording found in the attached document:
(Print or type the pacie number(s) and wording below):
C. i Ty Oi Z4 Qom/✓A
Date:
Signature: _//rr—.
Print Name: _ A//y_7 Jr) 2TGS�dw fic7
ACR 601P-AS4RE0 (Rev 09/2005) Available in Alternate Formats
IilIIIIIIIIIII III 11101111111111111111111111111 002A030of 3
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