2007 - 34038 Desert Golf Homes Development, LLC (R.A. Wasserman Commercial)
OUTSTANDING BOND REPORT
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Name: Desert Golf Homes Development (Wasserman Commercial)
(Casa La Quintal
Tract No. 34038
Date of Contract: NO SIA
Required Bond Amounts:
PM10
Grading
$ 2,460
$47,460
Bond Company: Developers Surety
Outstanding Bonds:
Amount:
Bond No.
Date Cancelled/Released:
$47,460
726958S
$ 2,460
cash deposit in Finance
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CASH DEPOSIT STATUS SHEET* '---~~~Jfp.~TA I
Budget Account No. Assign by'Fiiiai'R:e--'
DIN:34038 Project Location:SW Corner of Calle Tampico and Avenida Navarro
Developer: DESERT GOLF HOMES DEVELOPMENT, LLC; 9999 HAMILTON HILLS LANE, FISHERS, IN
46038-2060
[8JCASH SECUHITY - DESCRIPTION OF OBLIGATION PROMPTING DEPOSIT
~Dust control; [JAs-built plans; DRemoval of temporary improvements
D Other
DCASH PAYMENT - DESCRIPTION OF OBLIGATION PROMPTING DEPOSIT
DEPOSIT
DATE
Amount
Receipt #
DEBIT
BALANCE
11/8/1~7
$2,460.00
$2,460.00
COMMENTS PM-10 DUST CONTROL CASH DEPOSIT -100%
* Cash deposits placed In City administered trust accounts are typlcallyrecelved fortNo basic reasons: 1) CASH SECURITY ~ to provide a source offunds for the City
to draw upon if the City inc.urs costs satisfying obligations of the developer, or 2) CASH PA YMENT- to provide a source of funding for Improvements, property, or
services to be acquired. or administered. by the City at the developer's expense The City will release the fund balance when the developer's obligations that
prompted the cash depos~t are fully satisfied. The release function is initiated via the Request/Demand for Release of Cash Deposit (Form F058)
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DESERT GOL.F HOMES DEVELOPMENT LLC
!1999 HAMilTON HilLS lANE
FISHERS. IN 46038-2060
1834
DATE
t1 j, /"7
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1$ JY{,fP. /)0
20-104/740
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o PAY TO tHE Or-r" \.,t' f) ~
i ORDER OF' J7 ~c7'O l'(fJ~Uo...
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DOLLARS 6'i ;:s:.:-
Key pnBa'vatenk KeyBank Nation,!!.1 Association
IndianapolJs, Incliana 46204
o-w 1.8n-e34-2968
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FAITHFUL PERFORMANCE BOND
(LQMC 8.02.01 & CBC 3311)
Bond #72695BS
Premium: $1,139
Premium is for 2 Years.
Grading Bond
WHEREAS, the City of La Quinta, Califomia, is prepared to issue Encroachment Permit
#5219 in accordance with the La Quinta Municipal Code, and the California Building Code which is
adopted by reference, to R. A. Wasseman Corrnnercial, Inc. , as Principal,
whereby Principal will be authorized to perform certain grading improvements identified in the permit, and
as further detailed on the grading plans referenced therein, to privately-owned property generally known
to the City and others as Casa La Quinta ; and
WHEREAS, Said Principal is required under the terms of the permit to fumish a bond for
the faithful performance of the grading work in accordance with the approved plans, specifications, and
permit requirements; or, if the work is abandoned (not completed as required), Principal shall correct or
eliminate any hazardous conditions that may exist.
NOW, therefore, we the Principal and Developers Surety & Indemnity
Comoanv ,as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal
sum of Fortv Seven Thousand Four Hundred Sixtv Dollars and no/lOa
Dollars ($ 47,460. 00 ) lawful money of the United States, for the payment of which sum well and truly to
be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally,
firmly by these presents.
The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors,
administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep
and perform the covenants, conditions and provisions in the said permit and any alteration thereof made
as therein provided, on his or their part, to be kept and performed at the time and in the manner therein
specified, and in all respects according to their true intent and meaning, and shall indemnify and save
harmless the Obligee, its officers, agents and employees, as therein stipulated, then this obligation shall
become null and void; otherwise, it shall be and remain in full force and effect.
As a part of the obligaton secured hereby and in addition to the face amount specified therefor, there
shall be included costs and reasonable expenses and fees, including reasonable attomey's fees, incurred
by the Obligee in successfully enforcing such obligation, all to be taxed as costs and included in any
judgement rendered.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the
terms of the permit or to the work to be performed thereunder or the specifications accompanying the
same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such
change, extension of time. alteration or addition to the terms of the permit or to the work or to the
specifications.
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