33220 Greystone
OUTSTANDING BOND REPORT
Name: Greystone Multi-Family Builders Inc. (Clubhouse Apartments)
Tract No. 33220 (SDP 2002-730)
Date of Contract: NO SIA
Required Bond Amounts:
Rough Grading
Dust Control
$122,890
$ 15,825
$ 5,275
performance only
75%
25%
Dates of Bond Reductions:
Outstanding Bonds and Bond Company:
Hartford Casualty & Cash Deposit
Amount:
Bond No.
Date Cancelled/Released:
$122,890
61 BSBAH4446
$ 15,825
61 BSBAH4447
$ 5,275
Cash Deposit w I Finance
I
FAITHFUL PERFORMANCE BOND
(LQMC 8.02.01 & CBC 3311)
Bond #61BSBAH4446
Grading Bond
WHEREAS, the City of La Quinta, California, is prepared to issue Encroachment Permit
# ~ 1., ~ \ in accordance with the La Quinta Municipal Code, and the California Building Code which is
adopted by reference, to Greystone Multi Family Builders. Inc. , as Principal,
whereby Principal will be authorized to perform certain grading improvements identified in the permit, and
as further detailed on the grading plans referenced therein, to privately-owned property generally known
to the City and others as10. 55 acres so. of ~ Ave 52, 500' E of Jefferson St.
La Qunita, CA
WHEREAS, Said Principal is required under the terms of the permit to furnish a bond for
the faithful performance of the grading work in accordance with the approved plans, specifications, and
permit requirements; or, if the work is abandoned (not completed as required), Principal shall correct or
eliminate any hazardous conditions that may exist.
NOW, therefore, we the Principal and Hartford Casualty Insurance Comuany
, as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal
sum of One hundred twenty two thousand eight hundred nintv doll an::; &. no/1 00
Dollars ($122,890.00 lawful money of the United States, for the payment of which sum well and truly to
be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally,
firmly by these presents.
The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors,
administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep
and perform the covenants, conditions and provisions in the said permit and any alteration thereof made
as therein provided, on his or their part, to be kept and performed at the time and in the manner therein
specified, and in all respects according to their true intent and meaning, and shall indemnify and save
harmless the Obligee, its officers, agents and employees, as therein stipulated, then this obligation shall
become null and void; otherwise, it shall be and remain in full force and effect.
As a part of the obligaton secured hereby and in addition to the face amount specified therefor, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred
by the Obligee in successfully enforcing such obligation, all to be taxed as costs and included in any
judgement rendered.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the
terms of the permit or to the work to be performed thereunder or the specifications accompanying the
same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such
change, extension of time, alteration or addition to the terms of the permit or to the work or to the
specifications.
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FAITHFUL PERFORMANCE BOND
(LQMC 6.16)
Bond #61BSBAH4447
Fugitive Dust Control Bond
WHEREAS, the City of La Quinta, California, is prepared to authorize Greystone
Multi Family Builders, Itlc. , as Principal, to proceed with certain construction activities
pursuant to one, or more permits issued by the City, for various infrastructure improvements and/or
structures on, or associated with, privately-owned property generally known to the City and others as_
10.55 acres so. of Ave. 52, 500' E. ~ of Jefferson St., La Qunita, CA
WHEREAS, all such construction and demolition activities must be performed in such
manner as to conform with La Quinta Municipal Code, Chaper 6.16, entitled Fugitive Dust Control to
reduce fugitive dust and corresponding PM10 emissions; and
WHEREAS, said Principal is required by LQMC 6.16.050(A)(4) to ensure that Fugitive
Dust Control Plan # O~O, 6 , prepared specifically for the subject construction site, is financially
secure by furnishing security for the faithful performance of the dust control activitities required in the
Fugitive Dust Mitigation Plan.
NOW, therefore, we the Principal and Hartford Casualty Insurance ComDanv
, as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal
sum of Fifteen thousand eight hundred twenty five dollars and no/100
Dollars ($ 15,825.00 ) lawful money of the United States, for the payment of which sum well and truly
to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally,
firmly by these presents.
The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors,
administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep
and perform the covenants, conditions and provisions in the said dust control plan and any alteration
thereof made as therein provided, on his or their part, to be kept and performed at the time and in the
manner therein specified, and in all respects according to their true intent and meaning, and shall
indemnify and save harmless the Obligee, its officers, agents and employees, as therein stipulated. then
this obligation shall become null and void; otherwise, it shall be and remain in full force and effect.
As a part of the obligaton secured hereby and in addition to the face amount specified therefor, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred
by the Obligee in successfully enforcing such obligation, all to be taxed as costs and included in any
judgement rendered.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the
terms of the dust control plan or to the work to be performed thereunder or the specifications
accompanying the same shall in anywise affect its obligations on this bond, and it does hereby waive
notice of any such change, extension of time, alteration or addition to the terms of the dust control plan or
to the work, the specifications, or the conditions of approval of said plan.
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F211