35845 Highland La Quinta/Fresh & EasyOUTSTANDING BOND REPORT
Name: Highland La Quints (Fresh and Easy)
Tract No. PM 35845
Date of Contract: NO SIA
Required Bond Amounts:
Grading $40,777
Restoration $20,097
Bond Company: International Fidelity Insurance
Outstanding Bonds:
Amount:
$40,777
$20,097
$ 6,800
Bond No. Date Cancelled/Released:
0473513
.rLVICIAL!
Cash Deposit in Finance
CASH DEPOSIT STATUS SHEET*
Budget Account No. Assign by Finance
DIN:35845 Project Location:Calle Tampico Plaza; NE Corner of Calle Tampico and Desert Club Dr
Developer: HIGHLAND DEVELOPMENT COMPANY INVESTMENTS, LLC; 777 CALIFORNIA AVE., PALO
ALTO, CA 94304
[]CASH SECURITY - DESCRIPTION OF OBLIGATION PROMPTING DEPOSIT
®Dust control; ❑As -built plans; ❑Removal of temporary improvements
Other
❑CASH PAYMENT - DESCRIPTION OF OBLIGATION PROMPTING DEPOSIT
DATE
DEPOSIT
DEBIT
BALANCE
Amount
Receipt#
4125108
$6,800.00
$6,800.00
COMMENTS PM-10 DUST CONTROL CASH DEPOSIT 100% t 1p�B
Cl qN � QUI
Cash deposits placed in Cityadmirvstered trust accounts are Weally received fortwo basic reasons: l) CASHSECUR/TY-to sfwthe
to draw upon If the City incurs costs satisfying obligations of the developer, or 2) CASH PAYMENT -to provide a source of funding for hn or
services to be acquired, or administered, by the City at the developers expense. The City will release the fund balance when the developers ON that
prompted the cash deposit are fully satisfied. The release function is Initiated via the RequesbVemand for Release of Cash Debt (Form F058)
3.3?•.0�
SIX THOUSAND FIGHT HUNDRED and 00/100 USD '•••••":""�'
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of La Quinta
City of La-Quinta
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BOND NUMBER: 0473513
PREMIUM: $815.00
FAITHFUL PERFORMANCE BOND
(LQMC 8.02.01 & CBC 3311)
Grading Bond
gS1 WHEREAS, the City of La Quinta, California, is prepared to issue Encroachment Permit
o
# in accordance with the La Quinta Municipal Code, and the California Building Code which is
adopted by reference, to Highland La Quinta 2 LLC as Principal,
whereby Principal will be authorized to perform certain grading improvements identified in the permit, and
as further detailed on the grading plans referenced therein, to privately -owned property generally known
to the City and others as ; and
WHEREAS, Said Principal is required under the terms of the permit to furnish a bond for
the faithful performance of the grading work in accordance with the approved plans, specifications, and
permit requirements; or, if the work is abandoned (not completed as required), Principal shall correct or
eliminate any hazardous conditions that may exist.
NOW, therefore, we the Principal and International Fidelity Insurance Company
as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal
sum of Forty Thound Seven Hundred Seventy Seven ------ ------------ -------- -----------
Dollars ($ 40,777.sa00) lawful money of the United States, for the payment of which sum well and truly to
be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally,
firmly by these presents.
The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors,
administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep
and perform the covenants, conditions and provisions in the said permit and any alteration thereof made
as therein provided, on his or their part, to be kept and performed at the time and in the manner therein
specified, and in all respects according to their true intent and meaning, and shall indemnify and save
harmless the Obligee, its officers, agents and employees, as therein stipulated, then this obligation shall
become null and void; otherwise, it shall be and remain in full force and effect.
As a part of the obligaton secured hereby and in addition to the face amount specified therefor, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred
by the Obligee in successfully enforcing such obligation, all to be taxed as costs and included in any
judgement rendered.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the
terms of the permit or to the work to be performed thereunder or the specifications accompanying the
same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such
change, extension of time, alteration or addition to the terms of the permit or to the work or to the
specifications.
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F2101
BOND NUMBER: 0473514
PREMIUM: $402.00
FAITHFUL PERFORMANCE BOND
(LQMC 14.16.180)
Restoration Bond
WHEREAS, the City of La Quinta, California, is prepared to issue Encroachment
Permit # ao S 7 in accordance with the La Quinta Municipal Code, to Hiqhland La Quinta 2 LLC
, as Principal, whereby Principal will be authorized to construct certain
improvements in the public right of way as identified in the permit, and further detailed on the
improvement plans referenced therein; and
WHEREAS, Said Principal is required to furnish a surety bond in accordance with La
Quints Municipal Code Section 14.16.180 to faithfully perform and construct the permitted improvements,
or restore the right of way to its former condition in the event the proposed improvements are not
completed in accordance with the approved plans, specifications, and permit requirements to the
satisfaction of the Public Works Director; or, if the work is abandoned (not completed as required),
Principal shall complete the improvements, or restore the right of way to its former condition,
whichever is the less expensive alternative of these two alternatives to perform.
NOW, therefore, we the Principal and International Fidelity Insurance Company
as Surety, are held and firmly bound unto the City of La Quints, as Obligee, in the penal
sum of Twentv Thousand Ninety Seven------------------------------------------------------------------
Dollars ($ 20,097.00 ) lawful money of the United States, for the payment of which sum well and truly
to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally,
firmly by these presents
The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors,
administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep
and perform the covenants, conditions and provisions in the said permit and any alteration thereof made
as therein provided, on his or their part, to be kept and performed at the time and in the manner therein
specified, and in all respects according to their true intent and meaning, and shall indemnify and save
harmless the Obligee, its officers, agents and employees, as therein stipulated, then this obligation shall
become null and void; otherwise, it shall be and remain in full force and effect.
As a part of the obligaton secured hereby and in addition to the face amount specified therefor, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred
by the Obligee in successfully enforcing such obligation, all to be taxed as costs and included in any
judgement rendered.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the
terms of the permit or to the work to be performed thereunder or the specifications accompanying the
same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such
change, extension of time, alteration or addition to the terms of the permit or to the work or to the
specifications.
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