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32398 Forecast Homes OUTSTANDING BOND REPORT Name: Tract No. K. Hovanian Forecast Homes (Schumacher or Leyendas Project) 32398 Date of Contract: No SIA yet Required Bond Amounts: $150,000 $316,610 $ 25,000 Dust control Rough Grading Restoration Bond (American Contractors Indemnity Co.) Dates of Bond Reductions: Outstanding Bonds and Bond Company: Arch Insurance Amount: Bond No. Date Cancelled/Released: $150,000 (PM10) $ 50,000 (PM10) SU5016013 cash deposit in Finance $316,610 $ 25,000 SU5017767 4552 FAITHFUL PERFORMANCE BOND (LQMC 14.16.180) Restoration Bond WHEREAS, the City of La Quinta, California, is prepared to issue Encroachment Permit # 4.t;t;) in accordance with the La Quinta Municipal Code, to Schumacher 60th Monroe Partners LLC ' as Principal, whereby Principal will be authorized to construct certain improvements in the public right of way as identified in the permit, and further detailed on the improvement plans referenced therein; and WHEREAS, Said Principal is required to furnish a surety bond in accordance with La Quinta Municipal Code Section 14.16.180 to faithfully perform and construct the perm itted improvements, or restore the right of way to its former condition in the event the proposed improvements are not completed in accordance with the approved plans, specifications, and permit requirements to the satisfaction of the Public Works Director; or, if the work is abandoned (not completed as required), Principal shall complete the improvements, or restore the right of way to its former condition, whichever is the less expensive alternative of these two alternatives to perform. NOW, therefore, we the Principal and American Contractors Indemnity Company , as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal sum of Twentv-Five Thousand and no/lOa Dollars ($ 25,000.00 ) lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally, firmly by these presents. The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and provisions in the said permit and any alteration thereof made as therein provided, on his or their part, to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless the Obligee, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise, it shall be and remain in full force and effect. As a part of the obligaton secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by the Obligee in successfully enforcing such obligation, all to be taxed as costs and included in any judgement rendered. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the permit or to the work to be performed thereunder or the specifications accompanying the same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the perm it or to the work or to the specifications. Page 1 of 2 F212 Restoration Bond Encroachment Permit # 4')')2 Page 2 of 2 In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on 12-21 , 200~. (Seal) (Seal) F212 ROBERT J. SCHUMACHER Principal /"C~è l;Lc¿,t~ <~: Signature of Principal r'f~'S>,dl.i),\ o-Ç SC.huMQ.cht( r~f"tstSJ Iv'\c. ) Title of Signatory Gz. V\e. r a..l Po.. ( -\- Y\i. r ~J ..è:·¿/(.<t,c. AMERLCAN CONTRACTORS INDEMNITY COMPANY S~f,~y / ~ " < '--.~" ""'.<, ' ,'/ I _.", _ ¡', , r : t j.·{L'..-lf ¿.1 IW",,¡j( (,"{.'j{1 . Signature of Surety POWER OF ATTORNEY Title of Signatory 9841 AirDort Blvd.. 9th Floor Address of Surety (800) 486-6695 Phone # of Surety Frank Mester Contact Person For Surety ~® American Contractors Indemnity Company 9841 Airport Blvd., 9th Floor Los Angeles, California 90045 POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS: That American Contractors Indemnity Company of the State of California, a California corporation, does hereby appoint, Karen Helen Szatkowski of Ventura, California its true and lawful Attorney(s)-in-Fact, with full authority to execute on its behalf bonds, undertakings, recognizances and other contracts of indemnity and writings obligatory in the nature thereof, issued in the course of its business and to bind the Company thereby, in an Amount not to exceed $ ***********25,000.00************. This Power of Attorney shall expire without further action on March 18,2007. This Power of Attorney is granted and is signed and sealed by facsimile under and by the authority of the following Resolution adopted by the Board of Directors of AMERICAN CONTRACTORS INDEMNITY COMPANY at a meeting duly called and held on the 6th day of December, ] 990. "RESOLVED that the Chief Executive Officer, President or any Vice President, Executive Vice President, Secretary or Assistant Secretary, shall have the power and authority 1. To appoint Attorney(s)-in-Fact and to authorize them to execute on behalf of the Company, and attach the seal of the Company thereto, bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereofand, 2. To remove, at any time, any such Attorney-in-Fact and revoke the authority given. RESOL VED FURTHER, that the signatures of such ojjìcers and the seal of the Company may be afJìxed to any such Power of Attorney or certifìcate relating thereto by facsimile, and any such Power of Attorney or certificate bearing such facsimile signatures or facsimile seal shall be valid and binding upon the Company and any such power so executed and certifìed by facsimile signatures andfacsimile seal shall be valid and binding upon the Compan.v in the future with respect to any bond or undertaking to which it is attached. " IN WITNESS WHEREOF, American Contractors Indemnity Company has caused its seal to be affixed hereto and executed by its Chief Executive Officer on the 15th day of December, 2003. STATE OF CALIFORNIA COUNTY OF LOS ANGELES By: § § On this 15th day of December 2003. before me, Deborah Reese, a notary public, personally appeared Robert F. Thomas, Chief Executive Officer of American Contractors Indemnity Company, to me personally known to be the individual and officer described herein, and acknowledged that he executed the foregoing instrument and affixed the seal of said corporation thereto by authority of his office. WITNESS my hand and official seal. vi Jicf),.Á .At' ~ Signature of Notary My Commission expires March 18.2007 ~ - - - - - ~ÎoIWi REErE - - ~ @ CommIssIOn # 1406149 ¡ _,,; Notary Public - CaHfomla ~ Los Angeles County i _ _ _ ~ :om.."':;X~_M,: 1 ~ 2~7t I, Jeannie J. Kim, Corporate Secretary of American Contractors Indemnity Company, do hereby certify that the Power of Attorney and the resolution adopted by the Board of Directors of said Company as set forth above, are true and correct transcripts thereof and that neither the said Power of Attorney nor the resolution have been revoked and they are now in full force and effect. IN WITNESS HEREOF, I have hereunto set my hand this 21 st day of December ,2005. L~DlI~~: i\ lC2 Jeann 1. Kim, Cotporate Secretary Bond No. 280936 Agency No. #2097 Rev POAI2/15/0J ~of.(¡L~ MEMORANDUM TO: June Greek, City Clerk FROM: Anthony Colarossi, Assistant Engineer I VIA: ~ Timothy R. Jonasson, Public Works Director/City Engineer DATE: December 27, 2005 RE: Restoration Bond, Permit No. 4552, Tract No. 32398 The City Engineer has requested a restoration bond be posted for the work under Permit No. 4552. I am transferring to you the Restoration Bond for you to perform the following tasks: 1 . Keep the following original Bond: Bond No. Restoration Bond for Permit No. 4552 Amount: $25,000.00 Surety Company: American Contractors Indemnity Company If you have any questions, please contact me at extension 7089. Thank You. T:\PWDEPT\ST AFF\Colarossi\TRANSMITS\City CIerk\Restoration Bonds\Schumacher TM Ave 60 Water_Sewer. doc Bond No. SUS017767 Premium: $12,664.00 FA"HFULPERFORMANCEBOND (LOMC 6.02.Q1 & cao 3311) Grading Bond WHEREAS. the City of La QUinta, CalifornIa, is prepared to Issue Encroachment Permit # 'n 8~Ordsnc. with the Le Qulnte MuniCIpal Cods, eod the C"Iifomia SuUdihg Code which is adopted by reference, to . Hovnanian Forecast Homes I Inc. , 8S Principal. whereby PrfncipaJ will be a ortzed to pe orm oerteln gredlng Imþravøm,nta Identified in the permit. and £IS further detailed on the grading plans referenced therein. to prlvately-owned property generally known to the City and othe~ as Tr~rt 32398 ; and La Quinta 390 WHEREAS, Said Principal Îs required under the terms of the permIt tD furnish e bond for the faIthful perrorrnance of the gradIng work In aocordanae with the ØPProvwd pl.U'u~ specifications, and permit ,..qu1r9ments: Qt, It thð work i. abandoned (not aampleted as required), Principal shall correct or eliminate any hazardous conditions that may exist. NOW. therefore, W8 the Prindpal and Arch Insurance Company , as Surety, are held and flrmly bound unto the City at La Qulntll, all Obliges, In the penal . summ Three Hundred Sixteen Thousand Six Hundred Ten Dollars 00/100 Collars ($ 316 I 610 ) lawful money or the Unltea States, for the p~ymlnt of Wf"1ioh iurn well and truly to be made, We bind ourselves, our heirs, auocø",OI"S, ~.cutora and administrators, jointly and severally, firmly by tt,QØ pl'$$ønts. The condition of thl, obligation i8 ¡uch ~t if the above bonded Principal, hie or Its heirs, e)(ecutol1, ~dmloistrators, successors or assigns, shall in eU things stand to and ftblde by, Itld~" and tr\.lly keep and perform the cavenanl'J, condJtlon!! and þmv¡,iQns in the said permit and any alteration thereof made 8s therein pl"OVidød, Qn his or their part, to be kept and performed at the time and In the mer,n,r thorein specified. and In all re$þects according to their true Intent Ind m.anlng, 8lld ",hall indemnITy and save harmless the Obligee, Its oMeel1J, agents and smployees, as therein stipulated, then this obligatIon ehall beCOme null and \/oid; otherwIse, it shall be and remain In fuU force anCi effect. A, . part of the obligaton secured hereby and in addition to the face amount spøaifitd therefor. there shall be induded costs and reason~ble expenaa, and fias, inoJuding reasonable attorney's fees, incurred by the Obn~ee in successfully enforcing such oblIgation, all to be taxed ElS e~te and inoJuded in any judgement rendered. ThQ surety hereby stipulates and agrees that no ch~nge, ext5nalon 01 time. altGration or addition to the terms of the permIt or to th, WOr1( to be ¡)erfolT11ed thereunder or the specifications accompanying the SlImÐ Ghaß in anywise affect its obligations on this bond, and It does harebywelve notléQ of eny such change, extension of tIme. alteration Qr addltlQn to the temi$ of the permit or to the work Dr to the IJpwclf/CCltlone. Page 1 of 2 f21~ Gradl"9 Bond Encroachment Permit # Page 2 of2 11'1 witness whereof. thl$ initrument ha$ been duly executed by the Principal and Surety above named. ~n 3rd November _, 200~. (Seal) Forecast Homes, Inc. -- John Tolman, V.P. Title of Signatory of Construction Servvices (6øal) Attorney-in-Fact Trtle of Signatory 135 N. Los Robles Ave., #825 . Address of Surety Pasadena, CA 91101 (626) 639-5263 Phone # of Sute.ty Mike Cundiff CQntact Pereon For Surety F210 PMj- ~6~!JlJ /0 i FINANCE 6\P-- Revenue Code CASH DEPOSIT STATUS SHEET* Budget Account No. 101-000-261- DIN:32398 Project Location:NE Crn Ave 60 & Monroe; Schumacher Project Developer: FORECAST HOMES-SOUTHERN CALIFORNIA, K. HOVNANIAN COMPANY, 3536 CONCOURS #320; ONTARIO, CA 91764 [8]CASH SECURITY - DESCRIPTION OF OBLIGATION PROMPTING DEPOSIT ~Dust control; DAs-built plans; DRemoval of temporarY improvements o Other DCASH PAYMENT - DESCRIPTION OF OBLIGATION PROMPTING DEPOSIT DEPOSIT DATE Amount Receipt # DEBIT BALANCE 8/23/05 $50,000.00 $50,000.00 , COMMENTS 25% CASH OF THE PM10 FOR THE ENTIRE SITE ~efStJ.. 05075 \ GO C..C.x e ') [;IlY (f LA IlIINlA IIf C1t3fOMER RECEIPT Iff Date: 8/26/05 01 Receipt no: 1195 Custoler Location Nale Alount 2161 2161 FORECAST/K HOVNANIAN AD AiR DEV8LüÇ£R DEPOSITS t50000.00 Trans nUlber: 39281 * Cash deposits placed in City administered trust accounts are typically received for two basic n to draw upon if the City incurs costs satisfying obligations of the developer, or 2) CASH PA' services to be acquired. or administered, by the City at the developer's expense. The Ci~ prompted the cash deposit are fully satisfied. The release function is initiated via the Reque FÚRt.CAST/HOVNANIAN PROJ 06-006 AUG 2 6 2005 ïender detai 1 (;K CHECK ï otal tendered Total paYlent 145445 t50000.00 t50000.00 t50000.00 CITY OF LA QUINTA FINANCE DEPT. frans date: 8/26/05 file: 14:08:05 HI -I HANK YOU fOi< YOUR PAYMENï Hf ~~~~~~~~~~~~~~~~~~~~~~~~~~r~v~~~¥v~~~ ~~YMENiS REctIVtD AfTtH 3 P.M. WILL BE PiJSTED ïù THE NEXT DAY'S ACTIVITY 8/00 F059 Ia quinta E/323SB Bond No. SU5016013 Premium: $750.00 FAITHFUL PERFORMANCE BOND (LQMC 6.16) Fugitive Dust Control Bond WHEREAS, the City of La Quinta, Caßfornia, is prepared to authorize K. HovnAni An Forecast Homes. Inc. * , as Principal, to proceed with c~rtain constnJction activities pursuant to one, or more permits Issued by the City, for various Infrastructure Improvements and/or structures on, or associated with, privately-owned property generally known to the City and others as _ La Quinta 390 :snd *a California Corporation WHEREAS, all such construction and demolition activities must be peñormed in such manner as to conform with La Qulnta Municipal Code, Chaper 6.16, entitled Fugitive Dust Control to reduce fugitive dust and corresponding PM10 emissions; and WHEREAS said Principal is required by LQMC 6.16.0S0(A)(4) to ensure that Fugitive Dust Control Plan tf.O!:J)75 . prepared specifically for the subject construction site, is financially secure by furnishing security for the faithful performance of the dust control activitities required in the Fugitive Dust Mitigation Plan. NOW, therefore, we the Principal and Arch Insurance COIDDanv , as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal SLJm of e H dred Fift Thousand and no 100_ Dollars ($ 150 000.00) lawful money of the United States, the payment of whICh sum well and truly to be made, we'bind ourselves, our heirs, successors, executors and administrators, íointly and severally, firmly by these presents. The condition of this obligation is such that if the above bonded Principal, his Dr its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well IInd truly keep and perform the covenants, conditions and provisions in the said dust control plan and any IIlteration 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 plsn or to the work to be peñormed thereunder or the specifications accompanying the same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the dust control plan or to the work. the specifications, or the conditions of approval of said plan. Page 1 of2