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33076-1 East of Madison, LLCOUTSTANDING BOND REPORT Name: Madison Club - ND La Quinta Partners LLC Tract No. 33076 Date of Contract: September 9, 2005 Required Bond Amounts: PM10 $ 941,000 Rough Grading $1,375,800 For Onsite and Off site requirements, see the SIA Dates of Bond Reductions: Outstanding Bonds and Bond Company: Bank of America & Arch Insurance Co. Amount: $ 941,000 $ 705,750 $ 235,250 $ 35,826 $1,375,800 $2,055,940 $ 155,753 rider $2,055,940 $ 297,000 P $ 297,000 L & M $6,415,270 P $2,713,469 $486,006 rider $6,415,270 L & M $2,822,880 P $282,289 P $213,855 rider $2,822,880 $5,607,840 P $4,882,152 $424,836 rider $5,607,840 L & M Bond No. CD 13299 - 00147 SU5014101 CD 13296 - 00139 Cash Deposit SU5014102 Date Cancelled/Released: Replaced/Released 5/18/05 Released 4/24/07 Released/realaced 6/6/2013 Released 6/19/2015 Released 3/27/07 SU5016420 Replaced w/rider 4/17/08 same Released 10/19/17 Released 10/19/17 SU5016421 same Released 9/27/16 Released 10/19/17 SU5016422 Replace w/rider 4/17/08 same Replaced w/rider 2016 Released 10/19/17 same Released 10/19/17 SU5016423 Replace w/rider 7/15/15 same Replaced w/rider 2016 Released 10/19/17 same Released 10/19/17 SU5016424 Replaced w/rider 4/17/08 same Replaced w/rider 3/8/16 Released 10/19/17 same Released 10/19/17 $1,259,470 P $1,219,286 $ 95,414 rider $1,259,470 L & M $15,595,400 P $ 4,109,142 $15,522,900 L & M SU5016425 Replace w/rider 4/17/08 same Replace w/rider 3/8/16 Released 10/19/17 same Released 10/19/17 SU5016419 Replaced w/rider 4/17/08 same Released 4/23/2014 same Released 5/5/15 CITY OF LA QUQVTA SUBDIVISION IMPROVEMENT AGREEMENT TRACT MAP NO. 33076-1 ON -SITE IMPROVEMENTS THIS SUBDIVPIQN IMPROVEMENT AGREEMENT (the "AX�rembev- nt") is made and entered into this day of , 2005, by and between EAST OF MADISON, LLC. a Delaware Limited Liabili y 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. 33076-1 (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. CADocuments and Settings\czamorez\Local Settings\Temporary Internet Files\OLK19E\ONSITE_SIA (2).doc 1 of 14 B. Improvement security shall conform to Section 66499 of the California Government Code and one or more of the following: 2) A cash deposit with City or a responsible escrow agent or trust company, at City's option 2) Surety bonds, of the form specified in subsection 66499.2 of the California Government Code, issued by a surety or sureties listed in the U.S. Department of Treasury Circular 570 (latest version). 3) Certificates of deposit, in City's name, from one or more financial institutions subject to regulation by the state or federal government and having a financial quality rating of "A" or better and a commitment reliability rating of "R-2" or better on the Investment Data Exchange (of the Los Angeles County Treasurer's office). 4) Irrevocable letters of credit, issued by one or more financial institutions meeting the requirements of Paragraph (3), pledging that the funds necessary to carry out the completion of the Improvements are on deposit, guaranteed for payment, and constitute a trust fund which is not subject to levy or attachment by any creditor of the depositor until released by City. Letters of credit shall guarantee that all or any portion of the funds available pursuant to the letters of credit will be paid upon the written demand of City and that such written demand need not present documentation of any type as a condition of payment, including proof of loss. The duration of any such letter of credit shall be for a period of not less than one year from the execution of the agreement with which it is provided and shall state, on its face, that the letter of credit will be automatically renewed until such time that City authorizes its expiration or until sixty (60) days after City receives notice from the financial institution of intent to allow expiration of the letter of credit. 5) A lien upon the subdivided property, if City finds that it would not be in the public interest to require the installation of the Improvements sooner than two (2) years after recordation of the final map or 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 A. The amount of the performance security shall equal One Hundred Percent (100%) of the estimated cost of constructing the Improvements, including payment of plan check and permit fees, as estimated by the City Engineer or a duly authorized representative of the City Engineer. The amount of Payment security shall equal the amount of the amount of performance security, except as otherwise set forth in Exhibit A, and shall be furnished as a separate security. Warranty security shall equal Ten Percent (10%) of the amount of performance security except as otherwise set forth in Exhibit A. D. At the time of submittal of security, Subdivider shall pay to City administrative fees applicable to the form of security provided. Administrative fees shall apply to the subdivision (final map, 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 CADocuments and Settings\mvargas\Local Settings\Temporary Internal Files\OLMMONSITE_SIA.doc 9 of 14 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 3.6., 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%) 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 CADocuments and Settings\mvargas\Local Settings\Temporary Internet Files\0LK436\0NSITE_SIA.doc 10 of 14 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. 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 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. CADocuments and Settings\mvargas\Local Settings\Temporary Internet Files\OLK436\0NSITE SIA.doc 11 of 14 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. CADocuments and Settings\mvargas\Local Settings\Temporary Internet Files\01-036\01NISITE SIA.doc 12 of 14 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 Quintal 78-495 Calle Tampico La Quinta, CA 92253 760/777-7075 `Thomas P. Genovese, City Manager Dat DEVELOPER ADDRESS East of Madison, LLC. 375 North Front St, Ste 200 Columbus, OH 43215 By: Title: Date By: �4armff- Z, ZA95 Date Title: Ace 5,&R nW y Reviewed and Approved: j ngineer Date Approved as to Form: CityAttorney Da e CADocuments and Settings\mvargas\Local Settings\Temporary Internet Fi1es\0LK436\0NSITE_SIA.doc 13 of 14 ALL-PURPOSE ACKNOWLEDGMENT State of California I County of 5AA) M� SS. ' • A� I I On Z/00J— before me, 4-Z4 G. GAS • (D E) / (NOTARY) ' personally appeared S�J IP,Z C. 1-. O ' SI ER(S) ❑ personally known to me - OR- proved to me on the basis of satisfactory • I r whose name I • evidence to be the pe son iskw&subscribed to the within instrument and 1 ' acknowledged to me that he &heA*ey executed • ' the same in his/weir authorized I capacity(.}e-s), and that by hisAwrh+cir • ' MAI" E.1tARGAS - signature on the instrument the person Notary Public Calit�a(, • Conurww •"iC4ftr"iU� or the entity upon behalf of which the ' ' � ' sae matm cou ty personN acted, executed the instrument. My Caere E 11 mes AM 20, 2008 ' WITNESS my hand and official seal. • 1 ' r ' ' NOTARY'S SIGNAT • • ' I , • OPTIONAL INFORMATION ' The information below is not required by law. However, it could prevent fraudulent attachment of this acknowl- edgment to an unauthorized document. ' ' CAPACffY CLAIMED BY SIGNER (PRINCIPAL) DESCRIPTION OF ATTACHED DOCUMENT I • • !❑ INDIVIDUAL -� ❑ CORPORATE OFFICER 5 • ' TITLE OR TY E OF DOCUMENT4� 1 TITLE(S) 2 � • ❑ PARTNER(S) NUMBER OF PAGES ' I ❑ ATTORNEY -IN -FACT ' !• ❑ TRUSTEE(S) � l�/ / o 0j ' OR DATE O DOCUMENT • ❑ GUARDIAN/CONSERVAT I ' ❑ OTHER: IOTHER I RIGHT THUMBPRINT t ' SIGNER IS REPRESENTING: • OF ' ' NAME OF PERSON(S) OR ENTrCY(IES) t SIGNER 0 APA 5/97 VALLEY -SIERRA, 800-362-3369 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California ,1 ss. County of R\VerstdPP On CkLA,CA .S+ - . 20(i c before me, _0Ck4') V. a n L Hunter, KLtAn4 11 G Date Na and Title of Officer (e.g., "Jane o Notary Public") personally appeared Allen -P tJew Name(s) of Signer(s) -17 KATHRYN L. HUNTER Commission # 1382692 z Notary Public - California D Z Riverside County My Comm. Expires Nov 1, 2006 ❑ personally known to me proved to me on the basis of satisfactory evidence to be the personX whose nameN is/are subscribed to the within instrument and acknowledged to me that he/Nke/fty executed the same in his/her/their authorized capacity(bs), and that by his/lie;/tXir signatureN on the instrument the person(s), or the entity upon behalf of which the personN acted, executed the instrument. WITNESS my hand and official seal. Y. "4tl� — Signature of Notary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document 1 _ Title or Type of Document: S�bd,y'isl bvt, -� LAw 11n > fAAC Id Document Date:\lA UCS) Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer Signer's Name: We I 1INLIVIP, Ill ❑ Individual Top of thumb here ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Attorney -in -Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: 0 1999 National Notary Association - 9350 De Soto Ave., P.O. Box 2402 - Chatsworth, CA 91313-2402 - www.nationalnotary.org F'rOd. NO. beui neoro tan Exhibit A ON -SITE SECURITY — TRACT MAP NO.33076-1 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 Grading Storm Drainage Street Improvements Golf Coarse Storm Drainage Domestic Water Sanitary Sewer Golf Coarse Backbone Storm Drainage Monumentation Totals Standard 10% Contingency Total Construction Cost Professional Fees, Design 10% Professional Fees, Const 10% Bond Amount Performance Labor & Materials $ 264,900 $ 264,900 $ 1,624,510 $ 1,624,510 $ 3,957,530 $ 3,957,530 $ 1,881,560 $ 1,881,560 $ 1,458,050 $ 1,458,050 $ 691,630 $ 691,630 $ 1,881,560 $ 1,881,560 $ 55,000 $ 11,814,700 $ 11,759,700 $ 1,181,500 $ 1,176,000 $ 12,996,200 $ 12,935,700 $ 1,299,600 $ 1,293,600 $ 1,299,600 $ 1,293,600 $ 15,595,400 $ 15,522,900 CADocuments and Settings\rnvargas\Local Settings\Temporary Internet Files\OLK43MONSITE_SIA.doc 14 of 14 CITY OF LA QUINTA SUBDIVISION IMPROVEMENT AGREEMENT TRACT MAP NO. 33076-1 OFF -SITE IMPROVEMENTS THIS SUBDIVIVD�MPROVEMENT AGREEMENT (the "Agreement") is made and entered into this day of �� , 2005, by and between EAST OF MADISON, LLC. A DELAWARE 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. 33076-1 (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. CADocuments and Settings\czamorez\Local Settings\Temporary Internet Files\OLK19E\madison club OFFSITE _SIA_split (3).doc 1 of 16 B. Improvement security shall conform with Section 66499 of the California Government Code and one or more of the following: 1) A cash deposit with City or a responsible escrow agent or trust company, at City's option 2) Surety bonds, of the form specified in subsection 66499.2 of the California Government Code, issued by a surety or sureties listed in the U.S. Department of Treasury Circular 570 (latest version). 3) Certificates of deposit, in City's name, from one or more financial institutions subject to regulation by the state or federal government and having a financial quality rating of "A" or better and a commitment reliability rating of "R-2" or better on the Investment Data Exchange (of the Los Angeles County Treasurer's office). 4) Irrevocable letters of credit, issued by one or more financial institutions meeting the requirements of Paragraph (3), pledging that the funds necessary to carry out the completion of the Improvements are on deposit, guaranteed for payment, and constitute a trust fund which is not subject to levy or attachment by any creditor of the depositor until released by City. Letters of credit shall guarantee that all or any portion of the funds available pursuant to the letters of credit will be paid upon the written demand of City and that such written demand need not present documentation of any type as a condition of payment, including proof of loss. The duration of any such letter of credit shall be for a period of not less than one year from the execution of the agreement with which it is provided and shall state, on its face, that the letter of credit will be automatically renewed until such time that City authorizes its expiration or until sixty (60) days after City receives notice from the financial institution of intent to allow expiration of the letter of credit. 5) A lien upon the subdivided property, if City finds that it would not be in the public interest to require the installation of the Improvements sooner than two (2) years after recordation of the final map or 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 A. The amount of the performance security shall equal One Hundred Percent (100%) of the estimated cost of constructing the Improvements, including payment of plan check and permit fees, as estimated by the City Engineer or a duly authorized representative of the City Engineer. The amount of Payment security shall equal the amount of the amount of performance security, except as otherwise set forth in Exhibit A, and shall be furnished as a separate security. Warranty security shall equal Ten Percent (10%) of the amount of performance security except as otherwise set forth in Exhibit A. D. At the time of submittal of security, Subdivider shall pay to City administrative fees applicable to the form of security provided. Administrative fees shall apply to the subdivision (final map, 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 CADocuments and Settings\mvargas\Local Settings\Temporary Internet Files\OLK436\madison club OFFSITE_SIA_split.doc 2 of 16 security if the warranty security is of the same form and from the same source as the performance security it replaces. Administrative fees for security shall be as follows: 1) For certificates of deposit, bonds and letters of credit as described in Paragraphs 2), 3) and 4) of SECTION 3.B., which require the establishment of evidence of the reliability of the surety or financial institution, the administrative fee shall be One Hundred Fifty Dollars ($150.00). 2) For liens on real property as described in Paragraph 5) of SECTION 3.B., for which City will prepare lien agreements and subordination agreements, administer valuation of the real property and administer the agreements over the life of the lien, all of which require legal assistance and financial advice, Subdivider shall pay to City an administration fee of One Half of One Percent (0.5%) of the estimated cost of the improvements secured but not less than Five Hundred Dollars ($500.00) nor more than Five Thousand Dollars ($5,000.00). 3) For other forms of security listed in Section 3 B, above, there will be no administrative fee. 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 CADocuments and Settings\mvargas\Local Settings\Temporary Internet Files\OLOWmadison club OFFSITE_SIA_split.doc 3 of 16 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. 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. CADocuments and Settings\mvargas\Local Settings\Temporary Internet Files\OLK436\madison club OFFSITE SIA_split.doc 4 of 16 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. CADocuments and Settings\mvargas\Local Settings\Temporary Internet Files\OLK436\madison club OFFSITE_SIA_split.doc 5 of 16 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 78495 Calle Tampico La Quinta, CA 92253 7 0/777-7075 Thomas P. Genovese, City Manager DatW ATTEST: City C Developer Address East of Madison, LLC 375 North Front St, Ste 200 Columbus, OH 43215 By: Title: Date By: %a- Gefgf z , &V5 Date Title: Assr sa&P-nA4z r Reviewed and Ap roved: gineer Date Approved as to orm: City A orney D to e (/ CADocuments and Settings\mvargas\Local Settings\Temporary Internet Files\OLK436\madison club OFFSITE SIA_split.doc 6 of 16 ALL-PURPOSE ACKNOWLEDGMENT State of California ,, // ) • 'County of J�AR� M� } SS. ' • j IOn N % 700.r before me, �"'� ' Q C, a?� •(bATE) (NOTARY) personally appeared S�/ �Bi2 G J Okic�� I ' NER(S) • !• ❑ personally known to me - OR- proved to me on the basis of satisfactory I evidence to be the person(Kwhose namO( • isiam subscribed to the within instrument and ' he! executed ' acknowledged to me that � • ' the same in his/'+erAhe r authorized ' capacity(I ), and that by hisAtetf+keif • 'MAMA VAI:tC-JkS �#�4 signature on the instrument the person(i, ' • N ry Public- canton++• or the entity upon behalf of which the • ' MVCW �� ,2W1 person acted, executed the instrument. ' 1 • WITNESS my hand and official seal. • • • I �• I ' NOTARY'S SIGNATURE • 1 1 OPTIONAL INFORMATION ' The information below is not required by law. However, it could prevent fraudulent attachment of this acknowl- edgment to an unauthorized document. • ICAPACITY CLAIMED BY SIGNER (PRINCIPAL) DESCRIPTION OF ATTACHED DOCUMENT ' • • El ❑ CORPORATE OFFICER G�.Mv r/ P' �! • ' TITLE(S) TITLE OR TAPE OF DOCUM40' • • ' El PARTNER1S) NUMBER OF PAGES • ❑ ATTORNEY -IN -FACT ' ❑ TRUSTEE(S) / 2 o O • ❑ GUARDIAN/CONSERVATOR DATE O P DOCUMENT I ' ❑ OTHER: • OTHER • I ! 'RIGHT THUMBPRINT • SIGNER IS REPRESENTING: OF • ' NAME OF PERSON(S) OR ENTITY(IES) t I SIGNER 0 a • APA 5/97 VALLEY -SIERRA, 800-362-3369 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California SS. County of\V'PXS i CJ� 2 > On CLUIG S�before me,%'Y�T L—. t-11.�r�+ Date n' / Nana and Title of Officer (e.g., "Jane Doe, otary Public") personally appeared 1 �Qi'1 +• T4efi+ein Name(s) of Signer(s) KATHRYN L. HUNTER Commission # 1382692 7 Z r� Notary Public California Riverside County My Comm. Expires Nov 1, 2006 ❑ personally known to me �6 proved to me on the basis of satisfactory evidence to be the personN whose name( is/ax@ subscribed to the within instrument and acknowledged to me that he/sha/they executed the same in his/kr/t1?eit' authorized capacity(tes), and that by his/Prat/their signature(K on the instrument the person(, or the entity upon behalf of which the person(4 acted, executed the instrument. WITNESS my hand and official seal. w . <;� / 1 Signature of Notary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Jt k pd jV i Cj�Yl l 0&u., t Document Date:��.C� 2�(7S Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer Signer's Name: owl ri; ❑ Individual Top of thumb here ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Attorney -in -Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: 0 1999 National Notary Association • 9350 De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313-2402 • www.nationalnotary.org Prod. No. 5907 Reorder: Call Toll -Free 1-800-876-6827 Exhibit A OFF -SITE SECURITY - TRACT MAP NO. 33076-1 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 Avenue 52 Street Improvements $ 1,398,270 $ 1,398,270 Avenue 52 Storm Drain Improvements $ 26,950 $ 26,950 Avenue 52 Water Improvements $ 132,310 $ 132,310 Total $ 1,557,530 $ 1,557,530 Standard 10% Contingency $ 155,750 $ 155,750 Total Construction Cost $ 1,713,280 $ 1,713,280 Professional Fees, Design 10% $ 171,330 $ 171,330 Professional Fees, Const 10% $ 171,330 $ 171,330 Bond Amount (Ave 52) $ 2,055,940 $ 2,055,940 1-1/2 Signals on Avenue 52 $ 225,000 $ 225,000 Standard 10% Contingency $ 22,500 $ 22,500 Total Construction Cost $ 247,500 $ 247,500 Professional Fees, Design 10% $ 24,750 $ 24,750 Professional Fees, Const 10% $ 24,750 $ 24,750 Bond Amount (Signals) $ 297,000 $ 297,000 Madison Street Improvements $ 3,724,930 $ 3,724,930 Madison Storm Drain Improvements $ 652,750 $ 652,750 Madison Sewer Improvements $ 66,120 $ 66,120 Madison Water Improvements $ 416,260 $ 416,260 Total $ 4,860,060 $ 4,860,060 Standard 10% Contingency $ 486,010 $ 486,010 Total Construction Cost $ 5,346,070 $ 5,346,070 Professional Fees, Design 10% $ 534,600 $ 534,600 Professional Fees, Const 10% $ 534,600 $ 534,600 Bond Amount (Madison) $ 6,415,270 $ 6,415,270 CADocuments and Settings\mvargas\Local Settings\Temporary Internet Files\OLK436Vnadison club OFFSITE_SIA split.doc 7 of 16 Monroe Street Improvements $ 1,919,020 $ 1,919,020 Monroe Storm Drain Improvements $ 202,170 $ 202,170 Monroe Sewer Improvements $ 17,360 $ 17,360 Total $ 2,138,550 $ 2,138,550 Standard 10% Contingency $ 213,855 $ 213,855 Total Construction Cost $ 2,352,400 $ 2,352,400 Professional Fees, Design 10% $ 235,240 $ 235,240 Professional Fees, Const 10% $ 235,240 $ 235,240 Bond Amount (Monroe) $ 2,822,880 $ 2,822,880 Avenue 54 Street Improvements $ 3,341,250 $ 3,341,250 Avenue 54 Storm Drain Improvements $ 464,620 $ 464,620 Avenue 54 Sewer Improvements $ 119,300 $ 119,300 Avenue 54 Water Improvements $ 323,190 $ 323,190 Total $ 4,248,360 $ 4,248,360 Standard 10% Contingency $ 424,840 $ 424,840 Total Construction Cost $ 4,673,200 $ 4,673,200 Professional Fees, Design 10% $ 467,320 $ 467,320 Professional Fees, Const 10% $ 467,320 $ 467,320 Bond Amount (Avenue 54) $ 5,607,840 $ 5,607,840 Avenue 53 Street Improvements $ 903,910 $ 903,910 Avenue 53 Water Improvements $ 50,230 $ 50,230 Total $ 954,140 $ 954,140 Standard 10% Contingency $ 95,410 $ 95,410 Total Construction Cost $ 1,049,550 $ 1,049,550 Professional Fees, Design 10% $ 104,960 $ 104,960 Professional Fees, Const 10% $ 104,960 $ 104,960 Bond Amount (Avenue 53) $ 1,259,470 $ 1,259,470 CADocuments and Setfings\mvargas\Local Settings\Temporary Internet Files\OLK436\madison club OFFSITE_SIA split.doc 8 of 16 ARCH INSURANCE COMPANY FIRST TERM PREMIUM FULLY EARNED Bond Number : SU 5016419 SUBDIVISION BOND FAITHFUL PERFORMANCE KNOW ALL MEN BY THESE PRESENTS: That, East of Madison, LLC, as Principal, and the ARCH INSURANCE COMPANY, a corporation organized and existing under the laws of the State of MISSOURI and authorized to transact surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta , as Obligee, in the sum of Fifteen Million Five Hundred Ninety Five Thousand Four Hundred and 00/100 DOLLARS ($ 15,595,400.00), for which the payment whereof, well and truly to be made, said Principal and Surety bind themselves, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE Condition of the foregoing obligation is such that, whereas the above bounden Principal has entered into a contract/agreement, dated , 2005 with the Obligee to do and perform the following work; to wit: Tract Mau No. 33076-1 On -Site Improvements NOW, THEREFORE, if the above bounden Principal shall well and truly perform the work contracted to be performed under said contract, then this obligation shall be void; otherwise to remain in full force and effect. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC By: 11V ncu/cs PAvihvs0LLC, As wim iv w¢wiv ryytva�rs� 1N�r•�;�� vft �• �y N�Rh EWS, PVCs u,k coo Arch Insurance Company (Surety) By: , Ursula S. Frieh Attorney -in -fact 0V1\ DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 639-5200 • FAX (626) 69-5210 Subdivision Performance Bond.dot � ARCH INSURANCE COMPANY Bond Number: SU 5016419 SUBDIVISION BOND LABOR & MATERIAL/PAYMENT KNOW ALL MEN BY THESE PRESENTS: That we, East of Madison, LLC as Principal, and ARCH INSURANCE COMPANY, as Surety, are held and firmly bound unto City of La Ouinta as Obligee, in the sum of Fifteen Million Five Hundred Twenty Two Thousand Nine Hundred and 00/100 DOLLARS ($15,522,900.00) lawful money of the United States of America, for the payment of which sum well and truly to be made, We bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with the Obligee, dated 2005 , in which said Principal agrees to construct designated public improvements, as follows: Tract Mat) No. 33076-1 On -Site Improvements and, as a condition of approving said Subdivision, the Principal is required to give Labor and Material Payment Bond as herein provided. NOW, THEREFORE, if said Principal and/or contractor or subcontractor fails to pay for any materials, provisions, or rented equipment used in, upon, or for or about the construction of the public improvements for performance of the work to be done, or any work or labor done of any kind, in or on such improvements, said surety will pay the same in an amount not exceeding the sum set forth above. This bond shall insure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor and materials to them for the improvements. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC Arch Insurance Company (Principal) �--, (Surety) By: 12-o Nt*cs LLClkaka i. /►,cMlk- By: f Ursula S. Frieh , Attorney In Fact �j IL�ohv� cA1� �•s. 1 kd• iFs n.Rw�i J w...i� y' aKA C00 DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 535-0855 • FAX (626) 535-0875 Subdivision Payment Bond.dot ARCH INSURANCE COMPANY FIRST TERM PREMIUM FULLY EARNED Bond Number: SU 5016420 SUBDIVISION BOND FAITHFUL PERFORMANCE KNOW ALL MEN BY THESE PRESENTS: That, East of Madison. LLC, as Principal, and the ARCH INSURANCE COMPANY, a corporation organized and existing under the laws of the State of MISSOURI and authorized to transact surety business in the State of California as Surety, are held and firmly bound unto City of La Ouinta , as Obligee, in the sum of Two Million Fifty Five Thousand Nine Hundred Forty and 00/100 DOLLARS ($ 2,055,940.00), for which the payment whereof, well and truly to be made, said Principal and Surety bind themselves, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE Condition of the foregoing obligation is such that, whereas the above bounden Principal has entered into a contract/agreement, dated , 2005 with the Obligee to do and perform the following work; to wit: Tract Mau No. 33076-1 Off -Site Improvements NOW, THEREFORE, if the above bounden Principal shall well and truly perform the work contracted to be performed under said contract, then this obligation shall be void; otherwise to remain in full force and effect. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC By: 110 &Ln5 PAV6,,1 I-LC,,*}3 k�th�h1�1 tM%�v By S N ,vkw�a� tOAJ1 5,,Ics6Ys/ eta., 3s r�etr, &a i SA. A►� J E111 5 t IrCsIA(mv A►,A Coo ssfR a Ar `surance Company (Surety) Ursula S. Frieh Attorney -in -fact-' ��\J -e_ Z DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 639-5200 • FAX (626) 69-5210 Subdivision Performance Bond.dot ARCH INSURANCE COMPANY Bond Number : SU 5016420 SUBDIVISION BOND LABOR & MATERIAL/PAYMENT KNOW ALL MEN BY THESE PRESENTS: That we, East of Madison, LLC as Principal, and ARCH INSURANCE COMPANY, as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Two Million Fifty Five Thousand Nine Hundred Forty and 00/100 DOLLARS ($2,055,940.00) lawful money of the United States of America, for the payment of which sum well and truly to be made, We bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with the Obligee, dated 2005 , in which said Principal agrees to construct designated public improvements, as follows: Tract Map No. 33076-1 Off -Site Improvements and, as a condition of approving said Subdivision, the Principal is required to give Labor and Material Payment Bond as herein provided. NOW, THEREFORE, if said Principal and/or contractor or subcontractor fails to pay for any materials, provisions, or rented equipment used in, upon, or for or about the construction of the public improvements for performance of the work to be done, or any work or labor done of any kind, in or on such improvements, said surety will pay the same in an amount not exceeding the sum set forth above. This bond shall insure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor and materials to them for the improvements. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC Arch Insurance Company (Principal) (� (` (Surety) By: 1210 Atww PAva'huj LLC, 3.) MAMp2h� By: J , �mtVK6W Ursula S. Frieh , Attorney In Fact E1115, P►ics 1"lr AAA Coo DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 535-0855 • FAX (626) 535-0875 Subdivision Payment Bond.dot ~� ARCH INSURANCE COMPANY FIRST TERM PREMIUM FULLY EARNED Bond Number: SU 5016421 SUBDIVISION BOND FAITHFUL PERFORMANCE KNOW ALL MEN BY THESE PRESENTS: That, East of Madison. LLC, as Principal, and the ARCH INSURANCE COMPANY, a corporation organized and existing under the laws of the State of MISSOURI and authorized to transact surety business in the State of California as Surety, are held and firmly bound unto City of La Ouinta , as Obligee, in the sum of Two Hundred Ninety Seven Thousand and 00/100 DOLLARS ($ 297,000.00), for which the payment whereof, well and truly to be made, said Principal and Surety bind themselves, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE Condition of the foregoing obligation is such that, whereas the above bounden Principal has entered into a contract/agreement, dated , 2005 with the Obligee to do and perform the following work; to wit: Tract May No. 33076-1 Off -Site Improvements NOW, THEREFORE, if the above bounden Principal shall well and truly perform the work contracted to be performed under said contract, then this obligation shall be void; otherwise to remain in full force and effect. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC rhuv 6 b. 4#3• 1WC,)NVs, W "43 res; AA' -At Auk C O Arch Insurance Company (Surety) By: dLL �-i Ursula S. Frieh Attorney -in -fact DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 639-5200 • FAX (626) 69-5210 Subdivision Performance Bond.dot ARCH INSURANCE COMPANY Bond Number: SU 5016421 SUBDIVISION BOND LABOR & MATERIAL/PAYMENT KNOW ALL MEN BY THESE PRESENTS: That we, East of Madison, LLC as Principal, and ARCH INSURANCE COMPANY, as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Two Hundred Ninety Seven Thousand and 00/100 DOLLARS ($ 297,000.00) lawful money of the United States of America, for the payment of which sum well and truly to be made, We bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with the Obligee, dated 2005 , in which said Principal agrees to construct designated public improvements, as follows: Tract May No 33076-1 Off -Site Improvements and, as a condition of approving said Subdivision, the Principal is required to give Labor and Material Payment Bond as herein provided. NOW, THEREFORE, if said Principal and/or contractor or subcontractor fails to pay for any materials, provisions, or rented equipment used in, upon, or for or about the construction of the public improvements for performance of the work to be done, or any work or labor done of any kind, in or on such improvements, said surety will pay the same in an amount not exceeding the sum set forth above. This bond shall insure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor and materials to them for the improvements. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC Arch Insurance Company (Principal) r-- (Surety) By: 110 XV0 f sty ruj, LLC, ��, tb�glHl�jwy A.v►+�+ By: qLa" Ursula S. Frieh , Attorney In Fact 4,fVRA*-+ 1A.t ;)3 w,Ita�. EA4 Coo DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 535-0855 • FAX (626) 535-0875 Subdivision Payment Bond Aot ,- ARCH INSURANCE COMPANY FIRST TERM PREMIUM FULLY EARNED Bond Number: SU 5016422 SUBDIVISION BOND FAITHFUL PERFORMANCE KNOW ALL MEN BY THESE PRESENTS: That, East of Madison, LLC, as Principal, and the ARCH INSURANCE COMPANY, a corporation organized and existing under the laws of the State of MISSOURI and authorized to transact surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta , as Obligee, in the sum of Six Million Four Hundred Fifteen Thousand Two Hundred Seventy and 00/100 DOLLARS ($ 6,415,270.00), for which the payment whereof, well and truly to be made, said Principal and Surety bind themselves, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE Condition of the foregoing obligation is such that, whereas the above bounden Principal has entered into a contract/agreement, dated , 2005 with the Obligee to do and perform the following work; to wit: Tract May No 33076-1 Off -Site Improvements NOW, THEREFORE, if the above bounden Principal shall well and truly perform the work contracted to be performed under said contract, then this obligation shall be void; otherwise to remain in full force and effect. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC By: J'.o kt*) PAr i7wIi LLC t 11) Ww sk► , -1 m,,r►�- MAn �3�"J U40 ,rj. Ell�a� rc>►•� AMA Goa Arch Insurance Company y (Surety) 1 By: Ursula S. Frieh Attorney -in -fact Mc-J, -7 O -er S'veo-t DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 639-5200 • FAX (626) 69-5210 Subdivision Performance Bond.dot ARCH INSURANCE COMPANY Bond Number : SU 5016422 SUBDIVISION BOND LABOR & MATERIAL/PAYMENT KNOW ALL MEN BY THESE PRESENTS: That we, East of Madison, LLC as Principal, and ARCH INSURANCE COMPANY, as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Six Million Four Hundred Fifteen Thousand Two Hundred Seventy and 00/100 DOLLARS ($ 6,415,270.00) lawful money of the United States of America, for the payment of which sum well and truly to be made, We bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with the Obligee, dated 2005 , in which said Principal agrees to construct designated public improvements, as follows: Tract Map No. 33076-1 Off -Site Improvements and, as a condition of approving said Subdivision, the Principal is required to give Labor and Material Payment Bond as herein provided. NOW, THEREFORE, if said Principal and/or contractor or subcontractor fails to pay for any materials, provisions, or rented equipment used in, upon, or for or about the construction of the public improvements for performance of the work to be done, or any work or labor done of any kind, in or on such improvements, said surety will pay the same in an amount not exceeding the sum set forth above. This bond shall insure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor and materials to them for the improvements. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC (Principal) By: 120 Nto Pit, Lys, LLC., ib �Ahl+v�+ RGA� Yt1s� ��•� , 't�v►RM 1, Ellis, Tr0;it It -A COD Arch Insurance Company (Surety) , &�� By: Ursula S. Frieh , Attorney In Fact mkt,^I+) hvM Subdivision Payment Bond.dot DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 535-0855 • FAX (626) 535-0875 ARCH INSURANCE COMPANY FIRST TERM PREMIUM FULLY EARNED Bond Number: SU 5016423 SUBDIVISION BOND FAITHFUL PERFORMANCE KNOW ALL MEN BY THESE PRESENTS: That, East of Madison, LLC, as Principal, and the ARCH INSURANCE COMPANY, a corporation organized and existing under the laws of the State of MISSOURI and authorized to transact surety business in the State of California as Surety, are held and firmly bound unto City of La Quinta , as Obligee, in the sum of Two Million Eight Hundred Twenty Two Thousand Eight Hundred Ei¢hty and 00/100 DOLLARS ($ 2,822,880.00), for which the payment whereof, well and truly to be made, said Principal and Surety bind themselves, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE Condition of the foregoing obligation is such that, whereas the above bounden Principal has entered into a contract/agreement, dated , 2005 with the Obligee to do and perform the following work; to wit: Tract Mau No. 33076-1 Off -Site Improvements NOW, THEREFORE, if the above bounden Principal shall well and truly perform the work contracted to be performed under said contract, then this obligation shall be void; otherwise to remain in full force and effect. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC By: (�-o Piky 6w-0-Lt-, i 3 ikAKA�lwq VhWwS�'' Arch Insurance Company r (Surety) By: Ursula S. Frieh Attorney -in -fact IAov'f E►(ist Pm);dm} ai,-a Goo DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 639-5200 • FAX (626) 69-5210 Subdivision Performance Bond.dot ARCH INSURANCE COMPANY Bond Number : SU 5016423 SUBDIVISION BOND LABOR & MATERIALTAYMENT KNOW ALL MEN BY THESE PRESENTS: That we, East of Madison, LLC as Principal, and ARCH INSURANCE COMPANY, as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of Two Million Eight Hundred Twenty Two Thousand Eight Hundred Eighty and 00/100 DOLLARS ($ 2,822,880.00) lawful money of the United States of America, for the payment of which sum well and truly to be made, We bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with the Obligee, dated 2005 , in which said Principal agrees to construct designated public improvements, as follows: Tract Mau No 33076-1 Off -Site Improvements and, as a condition of approving said Subdivision, the Principal is required to give Labor and Material Payment Bond as herein provided. NOW, THEREFORE, if said Principal and/or contractor or subcontractor fails to pay for any materials, provisions, or rented equipment used in, upon, or for or about the construction of the public improvements for performance of the work to be done, or any work or labor done of any kind, in or on such improvements, said surety will pay the same in an amount not exceeding the sum set forth above. This bond shall insure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor and materials to them for the improvements. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC Arch Insurance Company (Principal) J r---- Qurety) By: 120 Amci &,rkInw, WC. ih By:( L2�44 ' Ursula S. Frieh , Attorney In Fact �►. 3. ►lis, ��d,,,,► nu�� coo DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 535-0855 • FAX (626) 535-0875 Subdivision Payment Bond.dot - ARCH INSURANCE COMPANY FIRST TERM PREMIUM FULLY EARNED Bond Number: SU 5016424 SUBDIVISION BOND FAITHFUL PERFORMANCE KNOW ALL MEN BY THESE PRESENTS: That, East of Madison, LLC, as Principal, and the ARCH INSURANCE COMPANY, a corporation organized and existing under the laws of the State of MISSOURI and authorized to transact surety business in the State of California as Surety, are held and firmly bound unto City of La Ouinta , as Obligee, in the sum of Five Million Six Hundred Seven Thousand Eight Hundred Forty and 00/100 DOLLARS ($ 5,607,840.00), for which the payment whereof, well and truly to be made, said Principal and Surety bind themselves, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE Condition of the foregoing obligation is such that, whereas the above bounden Principal has entered into a contract/agreement, dated , 2005 with the Obligee to do and perform the following work; to wit: Tract Map No. 33076-1 Off -Site Improvements NOW, THEREFORE, if the above bounden Principal shall well and truly perform the work contracted to be performed under said contract, then this obligation shall be void; otherwise to remain in full force and effect. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC By: ll o kn) CGw4,t,-)t u6uh r,1vv" w iw tV /bT 1 1 0o,, LL VA k i ' � 1'� J. 01151 PK,I'dAn} a.a COD Arch hksurance Company (Surety) By: __ LA—.ft Ursula S . Frieh Attorney -in -fact 1--� �Oe_ 17 Subdivision Performance Bond.dot DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 639-5200 • FAX (626) 69-5210 ARCH INSURANCE COMPANY Bond Number : SU 5016424 SUBDIVISION BOND LABOR & MATERIAL/PAYMENT KNOW ALL MEN BY THESE PRESENTS: That we, East of Madison, LLC as Principal, and ARCH INSURANCE COMPANY, as Surety, are held and firmly bound unto City of La Ouinta as Obligee, in the sum of Five Million Six Hundred Seven Thousand Ei¢ht Hundred Forty and 00/100 DOLLARS ($ 5,607,840.00) lawful money of the United States of America, for the payment of which sum well and truly to be made, We bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with the Obligee, dated 2005 , in which said Principal agrees to construct designated public improvements, as follows: Tract Man No. 33076-1 Off -Site Improvements and, as a condition of approving said Subdivision, the Principal is required to give Labor and Material Payment Bond as herein provided. NOW, THEREFORE, if said Principal and/or contractor or subcontractor fails to pay for any materials, provisions, or rented equipment used in, upon, or for or about the construction of the public improvements for performance of the work to be done, or any work or labor done of any kind, in or on such improvements, said surety will pay the same in an amount not exceeding the sum set forth above. This bond shall insure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor and materials to them for the improvements. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC Arch Insurance Company (Principal) (Surety) By: -1 P 6l-3 LLC ;VS M. w l' By: ,►'�t�,% Ursula S. Frieh , Attorney In Fact N11h*#,-AJL 1� aiwa LA•1 1� rvMA'7'^9 V 4.�, �y. �n�a h rl. t �;5, +e.�ioly. l q�� C D O DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 535-0855 • FAX (626) 535-0875 �- ARCH INSURANCE COMPANY FIRST TERM PREMIUM FULLY EARNED Bond Number : SU 5016425 SUBDIVISION BOND FAITHFUL PERFORMANCE KNOW ALL MEN BY THESE PRESENTS: That, East of Madison, LLC, as Principal, and the ARCH INSURANCE COMPANY, a corporation organized and existing under the laws of the State of MISSOURI and authorized to transact surety business in the State of California as Surety, are held and firmly bound unto City of La Ouinta , as Obligee, in the sum of One Million Two Hundred Fifty Nine Thousand Four Hundred Seventy and 00/100 DOLLARS ($ 1,259,470.00), for which the payment whereof, well and truly to be made, said Principal and Surety bind themselves, their heirs, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE Condition of the foregoing obligation is such that, whereas the above bounden Principal has entered into a contract/agreement, dated , 2005 with the Obligee to do and perform the following work; to wit: Tract May No. 33076-1 Off -Site Improvements NOW, THEREFORE, if the above bounden Principal shall well and truly perform the work contracted to be performed under said contract, then this obligation shall be void; otherwise to remain in full force and effect. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC BY: 12,0 nV'43 fk. LC , 16 th 1"0'� my w �' &A �IA) vlw- Arch Insurance Company (Surety) By: Ursula S. Frieh Attorney -in -fact DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 639-5200 • FAX (626) 69-5210 Subdivision Performance Bond.dot ARCH INSURANCE COMPANY Bond Number: SU 5016425 SUBDIVISION BOND LABOR & MATERIAL/PAYMENT KNOW ALL MEN BY THESE PRESENTS: That we, East of Madison, LLC as Principal, and ARCH INSURANCE COMPANY, as Surety, are held and firmly bound unto City of La Quinta as Obligee, in the sum of One Million Two Hundred Fifty Nine Thousand Four Hundred Seventy and 00/100 DOLLARS ($ 1,259,470.00) lawful money of the United States of America, for the payment of which sum well and truly to be made, We bind ourselves jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH, That, Whereas, said Principal has entered into a Subdivision Agreement with the Obligee, dated 2005 , in which said Principal agrees to construct designated public improvements, as follows: Tract Mau No. 33076-1 Off -Site Improvements and, as a condition of approving said Subdivision, the Principal is required to give Labor and Material Payment Bond as herein provided. NOW, THEREFORE, if said Principal and/or contractor or subcontractor fails to pay for any materials, provisions, or rented equipment used in, upon, or for or about the construction of the public improvements for performance of the work to be done, or any work or labor done of any kind, in or on such improvements, said surety will pay the same in an amount not exceeding the sum set forth above. This bond shall insure to the benefit of the contractor, his subcontractors, and to persons renting equipment or furnishing labor and materials to them for the improvements. SIGNED, SEALED, DATED: August 9, 2005 East of Madison, LLC (Principal) By: Ill AM.) �h� LLC, J, ykahnfjL, vknlnr By: rwc w7 i «� Arch Insurance Company . D(Surety) Ursula S. Frieh , Attorney In Fact DIRECT CORRESPONDENCE TO: ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101 PHONE (626) 535-0855 • FAX (626) 535-0875 Subdivision Payment Bond.dot Bond No. SU 5014101 Dollars ($ A)5, /50.UU ) IMP to be made, we bind ourselves, firmly by these presents. FAITHFUL PERFORMANCE BOND (LQMC 6.16) Fugitive Dust Control Bond WHEREAS, the City of La Quinta, California, is prepared to authorize East of Madison. LLC ___, 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 Fugitive Dust Control Plans ;and 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 # , prepared specifically for the subject construction site, is financially secure by furnishing security for the faithful performance of the dust control activitides required in the Fugitive Dust Mitigation Plan. NOW, therefore, we the Principal and as Surety, are held and firmly bound u1 sum of Seven Hundred Five Thousand SE _ I money of the United States, for the payment of which sum well and truly our heirs, successors, executors and administrators, jointly and severally, as 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. Page 1 of 2 F211 Bond No. SU 5014102 FAITHFUL PERFORMANCE BOND (LQMC 8.02.01 & CBC 3311) Grading Bond WHEREAS, the City of La Quinta, California, is prepared to issue Encroachment Permit # g350 in accordance with the La Quinta Municipal Code, and the California Building Code which is adopted by reference, to East of Madison LLC , as Principal, whereby Principal will be autharized 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 as Grading Plans ; and. 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 Arch Insurance Company as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal sum of =e Milli Fi and 00/100 Dollars -($1,375,800.W 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 terns 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. Page 1 of 2 F210 0 Recording Requested By and When Recorded Mail to: City of La Quinta P.O. Box 1504 La Quinta, CA 92247-1504 Attn: Public Works Department For the benefit of the DOC # 2008-0160378 04/01/2008 08:00P Fee:NC Page 1 of 3 Recorded in Official Records County of Riverside Larry W. Ward Assessor, County Clerk & Recorder 1111111111 IIIII 1111111111111111111111111111111111 City of La Quinta S R U I PAGE I SIZE DA MISC LONG I RFD I COPY No Fee I Section 6103 of the Government Code EXAM M A L 465 426 PCOR NCOR SMF CRG T: CTY LIM ��II CERTIFICATE OF CORRECTION fA (STREET NAME CORRECTION) Owner: East of Madison, LLC, a Delaware Limited Liability Company I, JOSEPH PADILLA certify that I am a Licensed Land Surveyor of the State of California; that Tract No. 33076-1 was prepared by me and is filed in Book 388, Pages 57 through 79, of Maps, Records of Riverside County, California, and that the following correction to said map is made by me in accordance with Chapter 3, Article 7, Section 66469 through Section 66472 of the Subdivision Map Act. Incorrect Data Amundson Avenue Elsworth Place Corrected Data Amundsen Avenue Ellsworth Place There are no property owners affected by 1 Dated: J /17lob 1 State of California ss. County of "gL On before before me, r Date Name& deofOfficer(6, laneD,Na"bbb) personally appeared JI)SC4 ! �r�i��(,�G4' > Namgs)ofSigneKs) who proved to me on the basis of satisfactory evidence to be the personKwhose name�<is*e'subscribed to the within instrument and acknowledged to me that heWe/*e�y executed the same in his/heetheif authorized capacity(iesj, and that b hisAier theif signature.Kon the instrument the person( , r the entity upon behalf of which the personal acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. JESSICA N. SPENCER N �+' COMM, a 1690199 WITNESS my hand and office seal. w NOrARYPU8lX.QWFORIM N 02: " ORANGE COUNTY N Myl: MnEx#NAUG2T,2010 S� a of Notary Public CITY ENGINEER'S CERTIFICATE This Certificate of Correction has been examined by the undersigned and discloses that the changes are authorized by and comply with Government Code Section 66469 and 66498 of the Subdivision Map Act. TIMOTHY R. JONASSON, R.C.E. 45843 EXP. 12/31/08 CITY ENGINEER, CITY OF LA QUINTA of California ss. On ?/ before me, A255 Pc. SPen � - �f DYe Name&TWa f�(eg'1 Dw, Notary Nblio personally appeared II I A Na..(,) of Signor(,) personally known to me ved to me on the basis of satisfactory evidence to be the rsonSWwhose name00 ismsubscribed to the within ins nt and acknowledged to me that he//they executed the s in his/ljer/tWr-authorized capacily(�ieSj, and that by hisQier signature�n the instrument the person or the entity on behalf of which the personal acted, to by the ins ent. ,.�° JESSICA N. SPE— NCER T S%= � WITNESS my hand and office N �# 1690199 s xs NOTARY PUBLIGCALffORNA y ORANGE COUNTY My Comm. Expires►!�0 CITY ENGINEER'S CERTIFICATE This Certificate of Correction has been examined by the undersigned and discloses that the changes are authorized by and comply with Government Code Section 66469 and 66498 of the Subdivision Map Act. Date: �J lo� 0 `Q> P � , t,t,� TI fOTHY R. J S F 45N4`A � - 12/'t l /08 TY ENGINR CI ' OF LA QUINTA Recording Requested By and When Recorded Mail to: City of La Quinta P.O. Box 1504 La Quinta, CA 92247-1504 Attn: Public Works Department For the benefit of the City of La Quinta No Fee Section 6103 of the Government Code DOC # 2010-0204535 05/04/2010 08:00A Fee:NC Page t of 2 Recorded in Official Records County of Riverside Larry U. Ward Assessor, County Clerk & Recorder 111111111111III1111111111111111111111III111ITIIII SIZE I DA I MISC I LONG RFD I COPY M A L 465 426 PCOR NCOR SMF CTY I UNI CERTIFICATE OF CORRECTION Owner: East of Madison, LLC, a Delaware Limited Liability Company I, JOSEPH PADILLA certify that I am a Licensed Land Surveyor of the State of California; that a survey was prepared under my supervision and direction in Tract No. 33076-1 in the City of La Quinta, County of Riverside, State of California; that said subdivision map was filed September 7, 2005, in Book 388 of Maps, pages 57 through 79, Records of Riverside County, California; and that the following correction to said map is made by me in accordance with Chapter 3, Article 7, Section 66469 through Section 66472 of the Subdivision Map Act. SHEET 3 OF 23 SHEETS Incorrect Data The Surveyor's Notes per said map states: Set Lead and Tag, "LS 7557", in top of curb (Riv. Co. Std. "E" Mon.) in lieu of front lot comers on side lot lines projected and for E.C.'s and B.C.'s projected perpendicular or radial from centerline, unless otherwise noted. Corrected Data Set Lead and Tag, "LS 7557" (Riv. Co. Std. "E" Mon.) at 1.00 foot offset from front lot corner in top of curb on side lot lines projected and for E.C.'s and B.C.'s projected perpendicular or radial from centerline, unless otherwise noted. There are no property owners affected by this correction. Dated: 4 l / 5 ! I O Padilla, PLS 7557 112/31/11 "\ 7W4* Q39 OUTS DING BOND REPORT Name: Madison Club - ND La Guinta Partners LLC Tract No. 33076 Date of Contract: NO SIA in file Required Bond Amounts: PM10 $941,000 Dates of Bond Reductions: Outstanding Bonds and Bond Company: Bank of America Amount: Bond No. Date Cancelled/Released: $941,000 CD 13299 - 00147 CERTIFICATE AHERDED OR 1-5-05 Bankof America .-= Investment CD Receipt BANKING CENTER San Francisco Private B~. 1329 CUSTOMER NAME ND La Quinta Partners, LLC DATE 12-14-04 INTEREST RATE 2.62 ANNUAL PERCENTAGE YIELD 2. 65 $AMOUNT $941.000.00 \ ACCOUNTTERM 1 Year MATURITY DATE 12-14-05 ACCOUNT # 13299 - 00147 *60 days prior to this CD's withdrawal, a written notice regarding the CD's withdrawl shall be sent to the City of La Quinta Public Voxks Deparœent. . (See re:v.:ers.e) . The written s art 01 your agreement WIth us and tells you the current terms of thIS account. ThIS time deposIt reinvests automatically for the same ccount term upon maturity or on the effective date of a deposit or withdrawal made during the grace period. (The grace period begins on the maturity date and is two business days for terms of 29 days or less; five calendar days for terms of 30 days through 89 days; seven calendar days for terms of 90 days or more.) We determine the interest rate for the reinvested deposit on the date your funds are reinvested. For information about early withdrawal penalties, please see the deposit agreement. A personal time deposit is not transferable. 05-16-2576B 05-2002 NOT NEGOTIABLE Recycled Paper Bank of America, N.A. . Member FDIC FORBONDINGPURPOSESONLY City of La Quinta PLEDGED TO for Dust Control Security DeÐosit* I L State of California Countyof DCMa L ) On ppl� 15, 2D10 before me, Marisa E. V nbo Nbiartl Fubk Date (insert vame end mlc oftheo cer) personally appeared Joseph c)u Pali IIQ who 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 by the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and office seal. Signature in, Q A} Q f . (SEAL)rA MMIU E. KV940 Commbaba a 1810162 -� No" P4bKo • CMitoama OMP WAY Comm. E 19, 2012 CITY ENGINEER'S CERTIFICATE This Certificate of Correction has been examined by the undersigned and discloses that the changes are authorized by and comply with Government Code Section 66469 of the subdivision Map Act. Date: ` Z 2 1 O C WO S T RICITY ENGINEER 45843 .I12 /10