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2000 03 07 RDAT4ht 4 4 Q" Redevelopment Agency Agendas are now Available on the City's Web Page @ WWW.la-quinta.org Redevelopment Agency Agenda CITY COUNCIL CHAMBER 78-495 Calle Tampico La Quinta, California 92253 Regular Meeting March 7. 2000 - 2:00 P.M. CALL TO ORDER Beginning Res. No. RDA 2000-01 Roll Call: Board Members: Adolph, Pena, Perkins, Sniff, Chairperson Henderson PUBLIC COMMENT This is the time set aside for public comment on any matter not scheduled for a public hearing. Please complete a "request to speak" form and limit your comments to three minutes. Please watch the timing device on the podium. CLOSED SESSION CONFERENCE WITH AGENCY'S REAL PROPERTY NEGOTIATOR, MARK WEISS, PURSUANT TO GOVERNMENT CODE SECTION 54956.8 CONCERNING POTENTIAL TERMS AND CONDITIONS OF ACQUISITION AND/OR DISPOSITION OF REAL PROPERTY LOCATED AT THE SOUTHEAST CORNER OF WASHINGTON STREET AND MILES AVENUE. PROPERTY OWNER/NEGOTIATOR: THE NORTH CENTRAL GROUP. NOTE: TIME PERMITTING, THE REDEVELOPMENT AGENCY BOARD MAY CONDUCT CLOSED SESSION DISCUSSIONS DURING THE DINNER RECESS. ADDITIONALLY, PERSONS IDENTIFIED AS NEGOTIATING PARTIES WHERE THE CITY IS CONSIDERING ACQUISITION OF THEIR PROPERTY ARE NOT INVITED INTO THE CLOSED SESSION MEETING. PUBLIC COMMENT - 3:00 PM This is the time set aside for public comment on any matter not scheduled for a public hearing. Please complete a "request to speak" form and limit your comments to three minutes. Please watch the timing device on the podium. CONFIRMATION OF AGENDA APPROVAL OF MINUTES A. APPROVAL OF MINUTES OF FEBRUARY 15, 2000. CONSENT CALENDAR Note: Consent. Calendar items are considered to be routine in nature and will be approved by one motion. 1. APPROVAL OF DEMAND REGISTER DATED MARCH 7, 2000. 2. APPROVAL OF AN AGREEMENT WITH THE COACHELLA VALLEY WATER DISTRICT FOR CONSTRUCTION OF PUBLIC IMPROVEMENTS WITHIN ASSESSMENT DISTRICT 2000-1, PHASE VI IMPROVEMENTS. BUSINESS SESSION 1 . CONSIDERATION OF A REQUEST BY BUILDING HORIZONS FOR AN AFFORDABLE HOUSING AGREEMENT FOR A 71' YEAR FUNDING BY AND BETWEEN THE LA QUINTA REDEVELOPMENT AGENCY AND BUILDING HORIZONS. A. MINUTE ORDER ACTION STUDY SESSION DEPARTMENT REPORTS 1. REDEVELOPMENT AGENCY SUMMER MEETING SCHEDULE. CHAIR AND BOARD MEMBERS' ITEMS PUBLIC HEARINGS 1. A JOINT PUBLIC HEARING BETWEEN THE REDEVELOPMENT AGENCY AND THE CITY OF LA QUINTA TO CONSIDER A RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF A PURCHASE AND SALE AGREEMENT AND OPERATING AND USE AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY AND THE LA QUINTA HISTORICAL SOCIETY FOR ACQUISITION OF PROPERTY TO BE OPERATED AS A PUBLIC MUSEUM AND ALLOWING THE CITY TO LOAN FUNDS TO THE REDEVELOPMENT AGENCY TO ACQUIRE THE MUSEUM. A. RESOLUTION ADOPTION -2- 2. A JOINT PUBLIC HEARING BETWEEN THE CITY COUNCIL AND REDEVELOPMENT AGENCY TO CONSIDER AN AMENDMENT TO TWO AFFORDABLE HOUSING AGREEMENTS BY AND BETWEEN THE LA QUINTA REDEVELOPMENT AGENCY AND CATELLUS RESIDENTIAL GROUP FOR THE PROPERTY LOCATED AT THE NORTHWEST CORNER OF JEFFERSON STREET AND 48T" AVENUE. APPLICANT: CATELLUS RESIDENTIAL GROUP. Note: To be Continued. ADJOURNMENT DECLARATION OF POSTING I, June S. Greek, Secretary of the La Quinta Redevelopment Agency, do hereby declare that the foregoing agenda for the La Quinta Redevelopment Agency meeting of March 7, 2000 was posted on the outside entry to the Council Chamber, 78-495 Calle Tampico and on the bulletin board at the La Quinta Chamber of Commerce and at Stater Bros., 78-630 Highway 1 1 1, on Friday, March 3, 2000. DATED: March, 2000 JUNE S. GREEK, CMC/AAE Secretary, La Quinta Redevelopment Agency PUBLIC NOTICE The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk's Office at 777-7025, 24-hours in advance of the meeting and accommodations will be made. -3- � T � oz V S � fr �c. F AGENDA CATEGORY: COUNCIL/RDA MEETING DATE: MARCH 7, 2000 ITEM TITLE: BUSINESS SESSION CONSENT CALENDAR STUDY SESSION Demand Register Dated March 7, 2000 PUBLIC HEARING RECOMMENDATION: Approve Demand Register Dated March 7, 2000 BACKGROUND: Prepaid Warrants: 40124 - 401291 167,313,22 40130 - 40133) 1,812.37 40134 - 401361 27,807.13 40137 - 401421 4,617.53 40139 - 401511 3,692.74 40152 - 401531 23,091.88 40154 - 401601 3,854.00 40161 - 401651 2,843.53 Wire Transfers} 1,853,312.44 P/R 4547 - 46191 88,440.35 P/R Tax Transfers) 24,325.51 CITY DEMANDS $1,738,499.49 Payable Warrants: 40166 - 403371 1,200,729.61 RDA DEMANDS 1,663,340.82 $3,401,840.31 $3,401,840.31 FISCAL IMPLICATIONS: Demand of Cash - RDA $1,663,340.82 Jol M. Falconer,. Finance Director CITY OF LA OUINTA BANK TRANSACTIONS 2/10/00 - 3/1/00 2/18/00 WIRE TRANSFER - DEFERRED COMP $7,339.65 2/18/00 WIRE TRANSFER - PERS $13,795.97 2/18/00 WIRE TRANSFER - CREDIT UNION $6,074.32 2/24/00 WIRE TRANSFER - RDA ESCROW - SPANOS $88,275.00 2/28/00 WIRE TRANSFER - ASSESSMENT DISTRICT DEBT SVC $189,043.75 2/29/00 WIRE TRANSFER - REDEVELOPMENT AGENCY DEBT SVC $1,548,783.75 TOTAL WIRE TRANSFERS OUT $1,853,312.44 2 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 1:22PM 03/01/00 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 40166 03/01/00 &01008 ROGER CRAIG HOBBS 100.00 40167 03/01/00 &01009 GWINCO CONSTRUCTION & 10.00 40168 03/01/00 &01010 LICK-E-FINGERS 3.00 40169 03/01/00 &01011 DIANE LONDOS 20.00 40170 03/01/00 &01012 LOST TRAILS LLC 195.00 40171 03/01/00 &01013 ZONDIROS CORPORATION 10.00 40172 03/01/00 &01014 CHARLES BASKETT 290.00 40173 03/01/00 &01015 MARILYN BEIDLER 8.00 40174 03/01/00 &01016 HAROLD FRAZIER 190.00 40175 03/01/00 &01017 KAREN Z LEVISH 8.00 40176 03/01/00 &01018 ANNA MARIA MEADOR 4.00 40177 03/01/00 &01019 PAM MICHOTTE 20.00 40178 03/01/00 &01020 RACHELLE SENNEVILE 30.00 40179 03/01/00 &01021 WALT WHITE 8.00 40180 03/01/00 &01022 ZENY T CIESLIKOWSKI 3.00 40181 03/01/00 &01023 FIELD LINING SYSTEMS INC 10.00 40182 03/01/00 &01024 KYLO CONSTRUCTION CORP 10.00 40183 03/01/00 &01025 PENHALL COMPANY 10.00 40184 03/01/00 &01026 REMAX OF THE DESERT 23.00 40185 03/01/00 &01027 SUMMIT CONTRACTING 10.00 40186 03/01/00 &01028 UNIFIED AIRCRAFT SVC INC 10.00 40187 03/01/00 &01029 MICHAEL KIRBY 15.00 40188 03/01/00 &01030 ADVANTAGE MOBILE HOME 4.00 40189 03/01/00 &01031 LA QUINTA GOLF ESTATES 300.00 40190 03/01/00 AlRO01 A-1 RENTS 801.00 40191 03/01/00 ACT100 ACT GIS INC 750.00 40192 03/01/00 AME200 AMERIPRIDE UNIFORM SVCS 97.99 40193 03/01/00 ANI200 ANIMAL SAMARITANS SPCA 75.00 40194 03/01/00 ARC100 ARCH 46.46 40195 03/01/00 ARRO10 ARROW PRINTING COMPANY 172.40 40196 03/01/00 ASCO01 A & S COFFEE SERVICE 606.00 40197 03/01/00 ATT075 AT&T WIRELESS SERVICES 113.36 40198 03/01/00 AUT030 AUTOMATED TELECOM 330.03 40199 03/01/00 BAN065 BANK OF AMERICA ESCROW 13104.05 40200 03/01/00 BAN150 BANK OF NEW YORK 1500.00 40201 03/01/00 BECO10 DEBORAH BECHARD 260.00 40202 03/01/00 BER150 BERRYMAN & HENIGAR INC 4614.00 40203 03/01/00 BOG100 SHARON BOGAN 22.40 40204 03/01/00 BOY075 BOYS & GIRLS CLUB OF 7500.00 40205 03/01/00 BRI100 BRINKS INC 265.00 40206 03/01/00 CAD010 CADET UNIFORM SUPPLY 31.10 40207 03/01/00 CAL019 CA ASSOC LOCAL ECONOMIC 425.00 40208 03/01/00 CAL027 CALIF MUNICIPAL TREASURER 100.00 40209 03/01/00 CAL130 CALIF CHAMBER OF COMMERCE 91.69 40210 03/01/00 CEN010 CENTURY FORMS INC 69.11 40211 03/01/00 COA080 COACHELLA VALLEY WATER 540.90 40212 03/01/00 COA082 COACHELLA VALLEY WATER 1253.85 3 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 1:22PM 03/01/00 CITY OF LA QUINTA BANK ID: DEF PAGE 2 CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT 40213 03/01/00 COM015 COMPUTER U LEARNING CENTR 2437.50 40214 03/01/00 COM040 COMMERCIAL LIGHTING IND 425.00 40215 03/01/00 CON010 CONRAD & ASSOCIATES 3121.00 40216 03/01/00 C00100 COOLEY CONSTRUCTION INC 3333.34 40217 03/01/00 COS050 COSTCO BUSINESS DELIVERY 1266.44 40218 03/01/00 COU010 COUNTS UNLIMITED INC 305.00 40219 03/01/00 COU200 COUNTRY CASUAL 4493.00 40220 03/01/00 CR0050 CROWN TROPHY 197.35 40221 03/01/00 DEN010 DENBOER ENGINEERING AND 10.00 40222 03/01/00 DES018 DESERT ELECTRIC SUPPLY 294.16 40223 03/01/00 DESO40 DESERT JANITOR SERVICE 4478.50 40224 03/01/00 DESO48 DESERT PIPE & SUPPLY 168.59 40225 03/01/00 DES060 DESERT SUN PUBLISHING CO 3193.13 40226 03/01/00 DES065 DESERT TEMPS INC 4119.46 40227 03/01/00 DET050 JOHN DETLIE 50.00 40228 03/01/00 DIE050 DIETERICH POST 423.00 40229 03/01/00 DII050 CHRISTINE DIIORIO 57.60 40230 03/01/00 DOU060 DOUBLETREE HOTEL ONTARIO 375.00 40231 03/01/00 DOU200 LES DOUGLAS 534.80 40232 03/01/00 DRU100 DRUMMOND AMERICAN CORP 597.58 40233 03/01/00 •EME030 EMERGENCY PREPAREDNESS 500.00 40234 03/01/00 EME100 KIM EMERSON 300.00 40235 03/01/00 EVA100 GUY EVANS 3000.00 40236 03/01/00 FAL050 JOHN FALCONER 115.05 40237 03/01/00 FED010 FEDERAL EXPRESS CORP 189.60 40238 03/01/00 FRA100 FRANK'S PALM DESERT 1300.50 40239 03/01/00 GAS010 GASCARD INC 161.49 40240 03/01/00 GON100 GONE COMPUTING 297.78 40241 03/01/00 GOV300 GOVWORKS, INC 45.00 40242 03/01/00 GRA007 GRAINGER 563.18 40243 03/01/00 GRA010 GRANITE CONSTRUCTION CO 139.70 40244 03/01/00 GUM050 BRAD GUMMER 1260.00 40245 03/01/00 GUY100 GUYS & GALS UNIFORMS 358.33 40246 03/01/00 HAR015 MARK HAROLD 9.54 40247 03/01/00 HAR100 JOHN HARDCASTLE 59.84 40248 03/01/00 HEG050 JIM HEGGE 2000.00 40249 03/01/00 HEN050 TERRY HENDERSON 72.10 40250 03/01/00 HOA010 HUGH HOARD INC 1282.65 40251 03/01/00 HOM030 HOME DEPOT 1750.14 40252 03/01/00 HOP050 BOB HOPE CHRYSLER CLASSIC 10000.00 40253 03/01/00 HOR100 DODIE HORVITZ 260.00 40254 03/01/00 ICIO55 ICI DULUX PAINT CENTERS 260.11 40255 03/01/00 ICM040 ICMA 89.45 40256 03/01/00 IMPO10 IMPERIAL IRRIGATION DIST 10172.55 40257 03/01/00 INLO75 INLAND EMPIRE ECONOMIC 500.00 40258 03/01/00 INL200 INLAND POWER EQUIPMENT CO 101.66 40259 03/01/00 INT015 INTERNATIONAL CONFERENCE 226.60 40260 03/01/00 JAI100 JAI PRESS INC/ABLEX 156.75 40261 03/01/00 JAS100 JAS PACIFIC 10333.40 in ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 1:22PM 03/01/00 CITY OF LA QUINTA BANK ID: DEF PAGE 3 CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT 40262 03/01/00 JUD010 JUDICIAL DATA SYSTEMS COR 100.00 40263 03/01/00 KEI010 KEITH COMPANIES 4059.99 40264 03/01/00 KEL010 KELLY SERVICES INC 2997.02 40265 03/01/00 KIN050 KINKO'S 207.57 40266 03/01/00 KIN100 KINER/GOODSELL ADVERTISNG 19319.99 40267 03/01/00 KRI100 BRUCE KRIBBS CONSTRUCTION 2996.00 40268 03/01/00 KUN100 MARNI KUNSMAN 37.76 40269 03/01/00 LAQ030 LA QUINTA CAR WASH 19.90 40270' 03/01/00 LAQ100 LA QUINTA VOLUNTEER FIRE 294.75 40271 03/01/00 LAQ105 LA QUINTA MIDDLE SCHOOL 500.00 40272 03/01/00 LAS200 LA SALLE LIGHTING SERVICE 9600.00 40273 03/01/00 LEA020 LEAGUE OF CALIF CITIES 3951.00 40274 03/01/00 LIE050 LIEBERT CASSIDY 2650.00 40275 03/01/00 LOG020 MARK LOGAN LANDSCAPE INC 258104.11 40276 03/01/00 LUN050 LUNDEEN PACIFIC CORP 524.14 40277 03/01/00 MAR010 MARTIN & CHAPMAN CO 40.56 40278 03/01/00 MCDO10 MC DOWELL AWARDS 12.93 40279 03/01/00 MCK010 McKESSON WATER PRODUCTS 403.30 40280 03/01/00 MOM100 MOM'S GAS STATION 713.77 40281 03/01./00 NAW010 RON NAWROCKI 2400.00 40282 03/01/00 NEX010 NEXTEL COMMUNICATIONS 2508.18 40283 03/01/00 NIC100 NICKERSON, DIERCKS & ASSC 6004.90 40284 03/01/00 OUT100 OUTDOOR SERVICES INC 100.00 40285 03/01/00 PAL010 PALM SPRINGS DESERT RESRT 90750.00 40286 03/01/00 PAL300 MARK PALMER DESIGN 6941.26 40287 03/01/00 PAR030 PARKHOUSE TIRE INC 167.68 40288 03/01/00 PCC050 PC CONNECTION INC 359.90 40289 03/01/00 PCR100 PCR 5950.00 40290 03/01/00 POW100 POWERS AWARDS 12.03 40291 03/01/00 PRE015 THE PRESS -ENTERPRISE CO 896.23 40292 03/01/00 PRI020 THE PRINTING PLACE 136.84 40293 03/01/00 PRO100 PROFESSIONAL EQUIPMENT 250.70 40294 03/01/00 PUB100 PUBLIC PERSONNEL CONSULT 565.00 40295 03/01/00 RAL050 RALPHS GROCERY CO 53.39 40296 03/01/00 RAN040 RANDAL'S PLUMBING 116.00 40297 03/01/00 RAS020 RASA - ERIC NELSON 2120.00 40298 03/01/00 REG020 REGAL BILTMORE HOTEL 800.00 40299 03/01/00 RES200 RESIDENCE INN 360.00 40300 03/01/00 RIE200 PAT RIENSCHE 1586.20 40301 03/01/00 RIV020 RIV CNTY AUDITOR-CONTROLR 126.00 40302 03/01/00 RIV100 RIVERSIDE COUNTY SHERIFFS 218206.05 40303 03/01/00 RUI100 JOHN RUIZ 100.84 40304 03/01/00 RUT050 RUTAN & TUCKER 21802.61 40305 03/01/00 SAX100 SAXON ENGINEERING SERVICE 8470.00 40306 03/01/00 SCH065 MOANA SCHMIDT 16.80 40307 03/01/00 SEC050 SECURITY LINK/AMERITECH 30.00 40308 03/01/00 SIE100 SIERRA PACIFIC ELECTRICAL 127815.75 40309 03/01/00 SIM025 SIMON MOTORS INC 4811.00 40310 03/01/00 SKY200 SKYTEL 48.82 .01 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF 1:22PM 03/01/00 PAGE 4 CHECK CHECK VENDOR NUMBER DATE NO. NAME PAYMENT AMOUNT 40311 03/01/00 SMA010 SMART & FINAL 162.87 40312 03/01/00 SMI010 MARILYN SMITH 64.42 40313 03/01/00 SOU007 SOUTHWEST NETWORKS, INC 5214.69 40314 03/01/00 STA020 STANDARD'REGISTER 429.82 40315 03/01/00 STA042 STANDARDIZED TESTING 500.00 40316 03/01/00 STA050 STAPLES 132.92 40317 03/01/00 STA150 STATER BROS 133.83 40318 03/01/00 SUN075 SUNLINE TRANSIT AGENCY 282.00 40319 03/01/00 SUN080 SUNLINE SERVICES GROUP 727.64 40320 03/01/00 TAY010 STEVE TAYLOR & SON 775.00 40321 03/01/00 TER100 TERRA NOVA PLANNING & 6351.29 40322 03/01/00 TRU010 TRULY NOLEN INC 156.00 40323 03/01/00 UPB100 UPBEAT INC 1173.46 40324 03/01/00 USO100 US OFFICE PRODUCTS 1746.61 40325 03/01/00 VAN020 DENNIS VAN BUSKIRK 560.00 40326 03/01/00 VAN075 VANDORPE CHOU ASSOC INC 2025.00 40327 03/01/00 VER010 ROMANO VERLENGIA 62.91 40328 03/01/00 VID050 VIDEO DEPOT 15.71 40329 03/01/00 VIL200 VILLAGE PARK ANIMAL HOSP 225.00 40330 03/01/00 VON010 VON'S C/O SAFEWAY INC 29.87 40331 03/01/00 WAL010 WAL MART STORES INC 222.89 40332 03/01/00 WES020 WEST GROUP 108.56 40333 03/01/00 WES075 WESTERN POWER & EQUIPMENT 200.46 40334 03/01/00 WHI010 WHITE'S STEEL 70.11 40335 03/01/00 XER010 XEROX CORPORATION 3582.74 40336 03/01/00 YEA100 E.L. YEAGER CONST CO INC 252370.63 40337 03/01/00 YOU100 YOUNG ENGINEERING SERVICE 3920.00 CHECK TOTAL 1,200,729.61 6 1D r O O .-i O O W w H m F ^� - H .-1 H .y H •-I H .-1 E N E. N E N F N N N E. N N E N N N E. r .a (� O O O O O O o O O O O O O O O O O O O O O O O o i H o p O n O U1 O O p m O Ol m O N a a o 0 0 0 o 0 0 0 0 0 0 0 o 0 0 0 0 0 0 0 0 o If) > w A ElO tail O Vl of 7 m [5az O {w° >" .7 O a vl a m W z > Q a O 'aa a w >m Z a W O rD N O m O w [w.. .7 A pa z a a � S W o r, W it N r7 ap F a W > a w E. >+ E z W o P. W a E. O z 4pP4�w W .4 O a F a a N S W Z > w O o .7 Ea aO to E 4 m u S A W 7 > W W a m O Elw ap dab E c7 F a oA a S A S W 9 W > " > W a 4 u O 9 [.. W a O OQ H El a Lol S C] W > w W a m E ({aa�� O �aO a 8 S O W n > 1.. 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O O m O O n m .-I N r ID V O m (q i y 7 ID ID O m 4 a O r m Lo � n �D O O N O ••'I p 6� m Ifl � .-I DI ry m O O N W, m0 m O m O �l a` ry N N O O r n m n I N n m m w N E. a � w u a Epo Fpo OV FFo W a W W H m EEp w z0 ao pFo OHo pFp W pFp w a m a a w a� w a a y a a m m a o p 0 w w 0 W O a O O W O a a a V a 0 Z O 0 U Q O F-I Q z a z w > a s I -I w z 41 w z Elz a low0 > o 0 0 0 0 a >' o y y a V U a !n U U u u u 3 •C w > 6 u 0 a m m m m m w w co ID W m n^ n D o o v 10 n 0 o OE+ p mI O . x 4 z DI 4 w w m a o O tL H a O O O ID O m r 0 N O 0 0 0 Ifl n In r O w m O O O O O O ,--I m o O d' ID 7 m ID m 10 w 10 En n n n n m n m m m m m 1f1 z 00 00 In O O O O O O cc) O IO ID ID r ID r- ID w IO lD ID O O 10 1 n O N N n N Ir1 E W Z Z z > U U a z V U D ° U w H H (ra] Z z Z z z F El V• >, >, 0 0 0 0 o z z 3 3 u1 Id IOn a W w W w u� w E F F H F O O W •i 0 O 0 0 0 0In ¢ m a E Od °d °d °d ED 0 z 0 O m O O O a� O O 4 4 z u u \ u E a H s a - !n u u u u u N> w m Q 01 a m m H H H O O O O O w 4 O Z z a a a a a m a i �m�al7 µWEn �a�.77 [a7 taWd WaW z 0 > O 0 0 o O In O o 0 0 0 o O O O N r 0 0 0 0 0 0 o 0 0 . 0 0 0 0� 0 0 + OIFJ O O w W 4 u > > 3 �? 3 3 3 3 X X x X >w•• 27 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 40161 02/25/00 40162 02/25/00 40163 02/25/00 40164 02/25/00 40165 02/25/00 COL100 CITY OF COLTON GTE010 GTE CALIFORNIA LAP100 LA PRENSA HISPANA PUT100 JOE PUTRINO GENERAL CONT RAD030 RADIO ACTIVE CHECK TOTAL 2:02PM 02/25/00 PAGE 1 PAYMENT AMOUNT 50.00 134.81 45.00 2499.50 114.22 2,843.53 ?. 8 O z z O .� rJ n 't � m iD r- ol O C O ID m - " ID O O O 0 O 0 10 w O O r �n r vi vi r 10 10 io io V1 in �(1 Irl �r1 O O O O O O O 0 0 0 0 0 0 0I 0 a 0 0 0 n Wl ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. ' NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 40154 02/22/00 AAA001 AAA TRAVEL AGENCY 40155 02/22/00 AME152 AMERICANS FOR THE ARTS 40156 02/22/00 HER010 JERRY HERMAN 40157 02/22/00 REG040 REGENTS OF THE UNIVERSITY 40158 02/22/00 ROB150 STEVE ROBBINS 40159 02/22/00 SCA100 SCA 40160 02/22/00 TYL050 ROBERT T TYLER CHECK TOTAL 3:22PM 02/22/00 PAGE 1 PAYMENT AMOUNT 594.00 760.00 750.00 450.00 600.00 100.00 600.00 3,854.00 30 O F Z O O N o w E. E. H a a N 0 0 0 0 0 0 0 0 n Fi o 0 0 0 0 0 0 0 H z a ON 0 m 0 n 0 0 o 0 0 o o e u n W O O O O O 0 O O O O O O O O U e 0 z o Po Z 0 00 Z o a rn z w 7a 4 to o ID .0 o too E Z O F r- a a r a w e a a O a a E Q W swq{ 5 U F U U a w a U a w a a w a >+ WmW z µ�s HFE E> z FE+ aE F z E E.z F a O W E pa EUE > E a u w u Ea o a s o x z m on x z m o a A r lz °o o a a o a a n a 0 z �sya� z z�`' > w r�Q� a� w UH a E. x E. O w L. u c x w o w w z z z ti z E 0 H _x `a a m w m a 0 o �. H C 0 0 O O o O O w o 0 0 0 0 0 0 m O U O O O O O Er r r^ r r+ r n Z l0 lD t0 l0 [r z O O + O o n 0 0 0 0 0 C e N O e O � O U Q O O O O O O � O F U) u F Wa 0 r w z z o o z F °d CD a w w ¢ O H Z r O H w F W U) m iZ+ ray rt �n a H =pi H r!; a z c .+ N O O O O O 0 W O U !.ti n: v� H 31 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 2:25PM 02/17/00 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 40153 02/17/00 KRI100 BRUCE KRIBBS CONSTRUCTION 596.88 CHECK TOTAL 596.88 32 0 0 .+ m o w f0-N m W E a F a r- a m N F m E. � z � rn w O ^ w a'. m m a rn H Ln a N., d a a a w z El ." a a Z U N z v H w w `-+ > ra m w u LQ a > w H ❑ H H x r Z O a z a t m w m a oO F L. a o w vJ o o E Z r.t F z o u� O r, U U a, O Z O E CJ a n E o � n Z �n O p� 6 V m cr. .ial F z aZ r a w a a ❑ u a m Z O > o � o O � st C� a OL m rC w on ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 40152 02/17/00 PUT100 JOE PUTRINO GENERAL CONT CHECK TOTAL 11:29AM 02/17/00 PAGE 1 PAYMENT AMOUNT 22495.00 22,495.00 34 ` z0. c ) � Q § { M a4 / \ R ) \ \ ( [ ( ( / ( k ` ® ' o / � \ � § b 2 ( \ \ / ID [ < ; Q 8 / \ § K / � M { \ 2 \ ( \ \ @ » ; » [ ( 2 u & 35 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 40143 02/16/00 HAR100 JOHN HARDCASTLE 40144 02/16/00 INT005 INTERNAL REVENUE SVC-ACS 40145 02/16/00 LAQ050 LA QUINTA CITY EMPLOYEES 40146 02/16/00 REG050 REGIONAL ACCESS PROJECT 40147 02/16/00 RIV040 RIV CNTY DISTRICT ATTORNY 40148 02/16/00 SOU037 SOUTHERN CALIF ASSOC CODE 40149 02/16/00 SUP100 SUPPORT PAYMENT CLEARING- 40150 02/16/00 UNIO05 UNITED WAY OF THE DESERT 40151 02/16/00 UNU050 UNUM LIFE INS CHECK TOTAL 4:06PM 02/16/00 PAGE 1 PAYMENT AMOUNT 300.00 200.00 377.00 400.00 426.50 200.00 150.00 142.00 1497.24 3,692.74 36 ID �n m U F Z O O .y o W E a w F rn E rn H m F rn F ��,..77 H rn rn E rn rn F rn rn E a a 0 ri [ti 0 o 0 O 0 o 0 O 0 11 0 O 0 O o O e N d r 'L[a] F Z O O r O ID O O N r N a `y' 0 0 0 0 0 0 0 o a v� w � iZ+ a rn W ❑ m a >El �.7 > F 0 o M z w 8 w ° > a D\. 0 O o ❑ a U S w ° > x a r 3 0 r a o a 0 � S w H w > > a ❑ 1 N a M yy " S ❑ w a > a 0 w o t7 N W qU S 0 N w w > it D, 0 o Vi IEl dI zH 8 ° w x > a ❑ W 8 ° w % > w W U R 8 .7 (� m F Z o W [ u o ❑ > z x " E z O 0 1D m 0 d w W m .i J4 a z a d w w m a op w F D: w 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 y .a N fi N N O lD N N ID lD N N C p p O p O O O O O O N O N O O 0 N O O O O O O d O O O O O O O O O ry0, Q w ElfQ� co H >>, o, zy El�sZ.7 VC, d y U > N w [[am» d Ian] N ° aa,� W (�� z F W a w Q u >' w a E. H Fw+ uCY �i W O U o m d yui w m Z a u F w a F 04 vi a y W F W O 3 �S W Z w H 5 .. z p 0 p Q p > 0 o ui O 0 ti 0 �n O a 0 ui O a o �r o iz r 0 O 0 o 0 •+ m ui o 0 Z > 0 ui 0 > 37 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 40137 02/15/00 AND030 CASTELLI'S ANDREINOS 40138 02/15/00 GTE010 GTE CALIFORNIA 40139 02/15/00 GTE020 GTE TELEPHONE OPERATIONS 40140 02/15/00 LEA027 LEAGUE OF CALIF CITIES 40141 02/15/00 SOU002 SOUL OF CHINA 40142 02/15/00 WEL025 WELLS FARGO BANKCARD CHECK TOTAL 4:41PM 02/15/00 PAGE 1 PAYMENT AMOUNT 730.00 303.89 515.67 100.00 262.05 2705.92 4,617.53 m Z O O ~ N U O W E i i Wi E d w F E w E EW-H E F µi7 E E E E Wi E E a a r ry O ry .+ O O n O ul N O in to n d' E. O O O D• N n r E z O O n r r r r N O o N kO O m r a` 0 io 0 n -i 10 a a O Ol r O u N o m o 0 0 of z o Oo " o o .W E .E. H rZFFi f+ .Zi .] q > > > 5 E. a 5 C fZ a a a a C w w wz s o o a a a a o z u � z w w w w z a z w z u z > o 0 0> W 14 W > W > o 0 [�+ O PL fL C fL' a. 04 a U E E E E q w u w .D � a p R N N r+ 0 U a O i w o m m n o 0 0 m 0 0 O 0 0 T w £ e 2 u w � � q v10i z a z a a w w m a op L, E m o 0 0 0 0 0 0 0 0 0 0 0 w on 0 o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 z n n w n n 0 10 10 n n n O ^+ O o 0 0 0 U 2 O m ul H El w g 9 9 0 ~ W U X CI o w JOL � `a X a z �zz+ �zz+ W .7 RC d R1 a C1 R] 00 2�2 z�z O v 2 0 O O O a CAP O O k O W O c+ O t m w w m u 0 a 0 m O m O a z .. W o a a a a m a a s .a a a w w w w w � ol m u u u u ' S ° m rn 0 m w a O m w w w w w ¢ a a a a m �' v C7 ZO {zs] > O O O .O o O n N �n in in in 5 p >. I O .-I O O .-1 O N O N O O O N O N O N O N OW [Oa 3 3 3 w 39 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 40134 02/14/00 COA080 COACHELLA VALLEY WATER 40135 02/14/00 IES052 IES-APA 40136 02/14/00 WIS020 WISE MAINTENANCE & CONST CHECK TOTAL 11:40AM 02/14/00 PAGE 1 PAYMENT AMOUNT 7497.13 120.00 20190.00 27,807.13 40 Z. O O i O w F w£ g a p¢q H E. E. H F E t a N N N Irl c! O O .'L ' z vi �D O to 0 0 rn �p r N � e .Ni < a lo p N � p O r 94 O o m a N rn r o 3 o p 3 N w O > m z H z H [� O w U uuuu O r♦ V] m w O O OQ Oo p .-� u) W w W w w H W ¢ w C 6 > > > n 4 3 6 3 3 3 W a W a w w U C w m Ul > w 0 0 0 0 lz ti . :4 ¢ z a a m w m a OO W H a o rJ ri �n o r W O •� �D �O O r ID o r n z o o w W W w w m ID U a o 0 0 n.l 0 o � a N E+ n W W W W O a a a a 0 W W w W Zv a a a a ¢ > > > > w w F a a a a ma z a a a a a N x m ol a N w a o a a¢ w a o 0 o O 3 H (gj j > O m O m O m O m N In O N O O O O O O OV w .H-+ a U O U O U O U O U 3 6 a m 41 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER CITY OF LA QUINTA BANK ID: DEF CHECK CHECK VENDOR NUMBER DATE NO. NAME ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 40130 02/11/00 AAA001 AAA TRAVEL AGENCY 40131 02/11/00 CAL155 CALIFORNIA GIS 2000 40132 02/11/00 GTE010 GTE CALIFORNIA 40133 02/11/00 IMPO10 IMPERIAL IRRIGATION DIST CHECK TOTAL 4:38PM 02/11/00 PAGE 1 PAYMENT AMOUNT 566.00 370.00 103.37 773.00 1,812.37 4? z 0 i E f E E E F E E E 0 0 w o 0 0 m u 0 1D O r u 10 r N r r 0 o r 0 0 0 0 o M w �o Zr- n O r 0 z ti qEl C F a a H LLt w OF v, a z o o m En o > w CI z w w Mz z y z a 1 ¢ o U 5 a a w m m r, m r V '+ 01 d' tP ID tD 0 0 0 0 0 0 0 0 0 0 0 0 r r in vi ri n r� N r'1 n O O � H O O O O O 0 0 >» o O U N z w w � a i> a a w F w a s>CQ a U v Z G z o O O O ui 0 a a 43 ACCOUNTS PAYABLE - AP5005 CHECK REGISTER 11:34AM 02/09/00 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK CHECK VENDOR PAYMENT NUMBER DATE NO. NAME AMOUNT ***NO CHECKS WERE USED FOR PRINT ALIGNMENT.*** 40124 02/09/00 BES101 BEST BUY 40125 02/09/00 DAV150 D SEMONES/DAVE'S WOODWORK 40126 02/09/00 DOU050 DOUBLETREE HOTEL 40127 02/09/00 GTE010 GTE CALIFORNIA 40128 02/09/00 SOU020 SO CA AMERICAN PUBLIC 40129 02/09/00 STE070 STEWART ESCROW CHECK TOTAL 1702.40 950.00 1572.00 63.82 85.00 162940.00 167,313.22 44 0,o z O O T O N o £ � w 4 � U H m t7 E CWJ H U' tC+977 fW�7 [C.aaI CW�7 tC,a7�7 C7 WV' , �2 a � O O O 0 O 0 ^� 2 2 H r Ol ,y N in O O O O O O O N O O w .� O zz' Q x aU a a 0 0 a w r+ W a o m pa p N H o H a; a awG O z 0 w W O N w r 0 .+ z o >i m O w O z w z w -..7 w 4 > N w z S r� w N O w z z w 5 > C7 �n o m O Z cx E+ O N Z a w W T Z H z o m 0 w w w O z H z 0 m 0 �/1 w w W a• Z H z 0 m 0 zw w w O• O Z D H z 0 m 0 a O ww z w w w w w H H❑ ❑ O Z a w N .-+ r ID O �n N n n N r-i N � H z 4 w Z 4 m W m a o0 H w a p p O O n ID n 10 o O O O O O O O O O O O O O .+ m lD 10 In lD �D 0 �D D• 'D D• 'D m m ID m 1D x a 0 p U 8 a " n 3 c O Ln �WW °zz 33 W a d fn a H z 4 `' O z r m wT. w ❑ W 8 [Ui. H uu++ 14 C4 H �c�¢++i U' W a U m W as gg H m U [Nil a ad 33 W m U W ad El m U W ad gg W m �y 7 d wp U + O .+ W O .-i ❑ O m O M ❑ O 0 .77 0 O [.OFt 0 O N O �O/1 O r {.O7 H/1 O n .l �OIn H O r m o r m 2 I' lv A/P - AP6002 CHECKS TO BE VOIDED 08:51AM 02/29/00 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK BK INVOICE VENDOR VENDOR NUMBER ID DATE AMT. PAID NUMBER NAME 40161 DEF 02/25/00 50.00 COL100 CITY OF COLTON TOTAL VOIDED 50.00 INVOICE DESCRIPTION CPRS LAYMAN AWARD 46 A/P - AP6002 CHECKS TO BE VOIDED 09:37AM 02/17/00 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK BK INVOICE VENDOR VENDOR NUMBER ID DATE AMT. PAID NUMBER NAME INVOICE DESCRIPTION 40085 DEF 02/02/00 22495.50 PUT100 JOE PUTRINO GENERAL CONT SENIOR CENTER COVERED PARKIN 40085 DEF 02/02/00 2499.50 PUT100 JOE PUTRINO GENERAL CONT SENIOR CENTER COVERED PARKIN TOTAL VOIDED 24,995.00 47 A/P - AP6002 CHECKS TO BE VOIDED 08:25AM 02/15/00 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK BK INVOICE VENDOR VENDOR NUMBER ID DATE AMT. PAID NUMBER NAME 39889 DEF 01/24/00 1850.21 LEA027 LEAGUE OF CALIF CITIES TOTAL VOIDED 1,850.21 INVOICE DESCRIPTION MEMBERSHIP DUES l u A/P - AP6002 CHECKS TO BE VOIDED 3:04PM 02/11/00 CITY OF LA QUINTA BANK ID: DEF PAGE 1 CHECK BK INVOICE NUMBER ID DATE 39817 DEF 01/19/00 39817 DEF 01/19/00 TOTAL VOIDED VENDOR VENDOR AMT. PAID NUMBER NAME 544.00 AAA001 AAA TRAVEL AGENCY 249.00 AAA001 AAA TRAVEL AGENCY 793.00 INVOICE DESCRIPTION TRAVEL LCC PLANNERS INST TRAVEL NAPA CONF/J HERMAN 49 Tjht 4 4 Q" COUNCIL/RDA MEETING DATE: March 7, 2000 ITEM TITLE: Approval of an Agreement with Coachella Valley Water District for Construction of Public Improvements within Assessment District 2000-1, Phase VI Improvements AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Approve the Agreement for Construction of Public Improvements with the Coachella Valley Water District (CVWD) for installation of domestic water improvements within Assessment District 2000-1, Phase VI Improvements, Project 98-19, Zones A, B, C & D. None. The agreement provides a mechanism for CVWD to reimburse the City for CVWD facilities installed under the assessment district construction contract. 1► rem On July 7, 1998, the City Council approved the Fiscal Year 1998/1999 through 2002/2003 Five-year Capital Improvement Program (CIP). As part of this program, the Phase VI Improvements were identified as follows: Phase VI A - Village Commercial Area Phase VI B - Cove Area Phase VI C - Westward Ho Phase VI D - Sagebrush, Bottlebrush, and Saguaro The City Council also approved the project entitled "Village Development" which is the completion of a prototypical street (Calle Estado). T:\PWDEPT\COUNCIL\2OOO\O003O7iRDA.Wpd The proposed improvements for Phase VI include streets, curb and gutter, public sewer, drainage systems, and replacement of existing domestic water facilities. The Redevelopment Agency (RDA) is funding the streets, curb and gutters throughout Phase VI, as well as the perimeter wall fronting Sagebrush, Bottlebrush, and Saguaro. The public sewer improvements and perimeter wall fronting Sagebrush, Bottlebrush, and Saguaro are to be funded through proposed Assessment District 2000-1. CVWD is responsible for the cost of replacing the existing water facilities. In order for this work to be completed in proper sequence with no delays, which could arise from multiple agency contracts, it is proposed that the water line replacement be bid as part of the Phase VI improvements. CVWD could be responsible for all the costs of installing the water facilities. Under the proposed agreement, CVWD will have the opportunity to accept the bid and fund the water line replacement utilizing the City's contractor, or reject the bid and forgo any waterline replacements at this time. If CVWD rejects the bids, CVWD would be responsible for waterline replacement and repairs to the roadway caused by the waterline replacements in the future. This is a cooperative agreement that will allow CVWD the opportunity to upgrade or replace old domestic water facilities at a competitive rate without having to do street surface restoration. The agreement is the same as agreements used during previous assessment district improvement projects. The City Attorney has reviewed and approved this agreement. The alternatives available to the RDA Board include: 1. Approve the Agreement for Construction of Public Improvements with the Coachella Valley Water District for installation of domestic water improvements within Assessment District 2000-1, Phase VI Improvements, Project 98-19, Zones A, B, C & D; or 2. Do not approve the Agreement for Construction of Public Improvements with the Coachella Valley Water District for installation of domestic water improvements within Assessment District 2000-1, Phase VI Improvements, Project 98-19, Zones A, B, C & D; or 3. Provide staff with alternative direction. Respectfully submitted, 0-6141 /Z Chris A. Vogt Public Works Director/City Engineer 2 T:\PWDEPT\COUNCIL\2OOO\O003O7jRDA.wpd Approved for submission by: Thomas P. Genovese City Manager Attachments: 1 . Agreement (16 pages) 003 T:\PW DEPT\COUNCIL\2000\0O0307jRDA. wpd ATTACHMENT 1 AGREEMENT FOR CONSTRUCTION OF PUBLIC IMPROVEMENTS THIS AGREEMENT is made and entered into by and among the CITY OF LA QUINTA ("the City"), the LA QUINTA REDEVELOPMENT AGENCY ("the Agency") and the COACHELLA VALLEY WATER DISTRICT ("the District"). RECITALS A. The City is a municipal corporation duly organized pursuant to the general laws of the State of California. B. The Agency is a redevelopment agency, a public body, corporate and politic, duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the Community Redevelopment Law, California Health and Safety Code Section 33000, et seq. C. The District is a county water district organized and existing pursuant to California Water Code Section 30000, et seq. D. The City, the Agency and the District wish to cooperate in undertaking a project for the construction of certain public improvements within the City, including domestic water facilities, sanitary sewer facilities, street improvements, and storm drains each intends to contribute to the cost of some or. all of these improvements through direct financial contribution, through assessment district financing and/or through the sale of bonds as hereinafter described. E. The City, the Agency and the District desire to enter into this Agreement to undertake and finance portions of the project pursuant to Sections 10109 through 10111 of the Municipal Improvement Act of 1913 set forth in California Streets and Highways Code Section 10000, et seq. ("the Act"). agr=ts\oougreae -1- 005 THEREFORE, IT IS AGREED: Assessment District Proceedings, Funding. 1. Formation. The City shall form an Assessment District as shown on the attached Exhibit "A" pursuant to the Act to finance those portions of the project described in the attached Exhibit "B." 2. Funds. Upon adoption of a resolution by the City Council declaring its action on the Engineer's Report and Assessment, confirming the proposed assessment, ordering the project to be constructed and installed and causing the improvement bonds (representing unpaid assessments) to be sold, upon the receipt of paid assessments and the proceeds of the bond sales, the following funds shall be established and maintained by the City from the sources and for the purposes described: A. Improvement Fund. Into this fund shall be deposited all net proceeds received by the City pursuant to the assessment district assessments and bond sales and any cash payments by the District. This fund shall be used to pay the cost of construction of all improvements described in Exhibit "B." B. Tax Allocation Bond Fund. The Agency shall transfer to the City, monies which Agency has obtained or shall obtain from the issuance and sale of tax allocation bonds by the Agency. Said money shall be kept by the City in a "Tax Allocation Bond Fund" and shall be used to pay the cost of constructing street improvements in the area shown on Exhibit `B" (Curb, Gutter, Pavement and Storm Drain). Financing Provisions 1. District's Obligation. The District's obligation to pay the costs and expenses of the project shall be limited to the following: A. Sanitary Sewer Facilities. The District shall not construct or shall not pay the costs of constructing those sanitary sewer facilities described on the attached Exhibit M." agmnts\oo\lgredev -2- 006 B. Domestic Water Facilities. The District shall budget and contribute the total cost of the domestic water facilities to be constructed as part of the project and shown on Exhibit `B," not otherwise paid for by the City or Agency. The District shall pay the City for water improvement construction expenses on a monthly basis after monthly work is completed based on quantities agreed upon by the City and District Inspector. The Agency shall pay all costs for street surface restoration over the newly installed water main in conjunction with the street improvements shown on Exhibit `B." 2. Citv's/Agency's Obligation. The obligation of the City to pay the costs and expenses of the project shall be limited obligation, payable olel from the Improvement Fund. The Agency shall pay the costs and expenses of all domestic water facilities required to be replaced due to cuts in grades and/or additional fill (amount of fill and cut impacting the existing domestic line to be determined by the District) over the District's existing domestic water mainline including engineering costs. The obligation of the Agency to pay the costs and expenses of the project shall be limited to the monies it pays to the City from the sale of tax allocation bonds. The City shall pay the costs of constructing those sanitary sewer and all other improvement facilities shown on the attached Exhibit "B." Construction Provisions l . Plans and Specifications. The District shall review and approve all plans, specifications, drawings and revisions thereof for the construction and installation of all domestic water and sanitary sewer improvements prior to construction. The District shall be reimbursed for the engineering and drafting expense and overhead for the sanitary sewer improvements described in Exhibit "B" from monies, if any, remaining in the Assessment District's construction contingency fund unless the assessment district proceedings are not completed, in which event the District shall bear its own engineering and drafting expense and overhead. aV=U\oougredcv -3- 007 2. Contractor's Bids. After the contractor's bids are received, the District shall review the water main portion of the bids submitted. The District expressly reserves the right to reject any or all portions of the bids received for the District's water main improvements. 3. Inspection. The District shall provide normal construction inspection services in connection with construction and installation of all domestic water and those sanitary sewer improvements described in Exhibit `B." The City, from monies, if any, remaining in the Assessment District's construction contingency fund shall reimburse the District for its normal construction inspection and services in connection with construction and installation of the sanitary sewer improvements described in Exhibit "B." 4. Progress Payments. The District shall review each progress payment request by contractor for the construction and installation of domestic water and/or those sanitary sewer facilities described on Exhibit `B." The District, upon approval, shall pay to the City the amount approved for the portion of the project being constructed and installed at the District's expense within twenty (20) days of said approval. The City shall thereupon pay the. amount authorized by the District to the contractor. 5. Completion. Upon completion of the construction and installation of the domestic water and sanitary sewer facilities, the City shall file a Notice of Completion for recording in the Office of the County Recorder. Upon formal written acceptance thereof by the District, the City shall execute all documents necessary for the conveyance of title to said facilities to the District. Upon delivery of said documents to the District, said facilities shall become a part of the District's domestic water and sanitary sewer systems, as appropriate, and the District shall thereafter operate and maintain same. Conditions to Water and Sewer Service District's Rights and Duties. The District shall have the following rights and duties regarding annexations, connection and facilities fees: A. Annexation. The District shall annex parcels into appropriate improvement districts upon a request for actual services by the property owner and upon payment of the appropriate fees and charges as set forth below. aW=ts\ooUgred- -4- 008 B. Connection Charges. A condition to service shall be payment of any applicable connection charge, including the cost of installation of a lateral connection or the relocation of a lateral where appropriate or necessary. C. Facilities Fees. A condition to service shall be payment of all required domestic water and/or sewage treatment facilities fees or capacity charges which are in existence at the time that service is requested. Miscellaneous Provisions 1. Effective Date. This Agreement shall become effective upon the adoption by the City Council of a resolution confirming assessments and upon the receipt of sufficient funds by the City, from paid assessments and from the sale of improvement bonds, when added to funds received from the Agency and considering the financial obligations of the District, shall constitute a sufficient total amount to pay all the costs and expenses of construction and installation of the project, including incidental expenses. The foregoing notwithstanding, the obligation of the District to pay its own costs of engineering and drafting and overhead attributed thereto, shall become effective upon the initiation of special assessment proceedings by the City even if the balance of this Agreement does not become effective. 2. Termination. If for any reason the Assessment District or any of the special assessment proceedings or the issuance and sale of improvement bonds are invalidated by a court of competent jurisdiction, this Agreement shall be automatically terminated. 3. Notice. Any notice authorized or required to be given to the City shall be deemed duly and properly given if sent to the City by registered or certified mail, return receipt requested to: City of La Quinta Attention: City Manager Post Office Box 1504 La Quinta, California 92253 or personally delivered to the City at such address or other address specified to the Agency and the District, in writing, by the City. aV=ts\ooVgred- -5- 009 Any notice authorized or required to be given to the Agency shall be deemed duly and properly given if sent to the Agency by registered or certified mail, returned receipt requested to: La Quinta Redevelopment Agency Attention: Executive Director Post Office Box 1504 La Quinta, California 92253 or personally delivered to the Agency at such address or other address specified to the City and the District, in writing, by the Agency. Any notice authorized or required to be given to the District shall be deemed duly and properly given if sent to the District by registered or certified mail, return receipt requested to: Tom Levy, General Manager -Chief Engineer Coachella Valley Water District Post Office Box 1058 Coachella, California 92236 or personally delivered to the District at such address or other address specified to the City and the Agency, in writing, by the District. 4. Entire Agreement. This Agreement represents the entire integrated agreement among the City, the Agency, and the District, supersedes all prior negotiations, representations, or agreements, either written or oral. This Agreement may only be modified by a writing signed by the City, the Agency and the District. 5. Governing Law. This Agreement shall be governed by the laws of the State of California. 6. Successors and Assigns. The provisions of this Agreement shall inure to and be binding upon each of the parties to this Agreement and their successors and assigns. aV=ts\oougredev -6- IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their respective officers thereunto duly authorized by the City on , 2000, by the Agency on , 2000, and by the District on , 2000. CITY CITY OF LA QUINTA By: Mayor ATTEST: City Clerk AGENCY ATTEST: Clerk of the La Quinta Redevelopment Agency DISTRICT ATTEST: Secretary of the Coachella Valley Water District and of the Board of Directors Thereof LA QUINTA REDEVELOPMENT AGENCY COACHELLA VALLEY WATER DISTRICT By: Tom Levy General Manager -Chief Engineer nM:il\eng\agrmnts\oo\iq*ev -7- O i 1 PROPOSED PHASE V/ IMPROVEMENTS EX H I B I�' "All ASSESSMENT DIAGRAM ASSESSMENT DISTRICT NO. 98-19 ClwofLe Qwhb Sbb a gBlwny NOTE: REFER TO THE RIVERSDE COUNTY ASSESSORS LATEST ASSESSOR PARCEL NAPS FOR PARCEL DETAILS. PILED THIS ---------- DAY Or Xo _- . AT THE O CLOCK ... it. BOpIt QF NAPS OP ASSESSMENTS AND CONMINITY FACILITIES DISTRICTS AT PAMO) THEFCOUNTY RTw OFFICE Or ECORDER OF THE COUNTY OF RIVERSIDE. STATE DF CALIFWNTA. COUNTTYY �CO�ER --- RTVERSCE RECORDED N THE OFFICE OF THE CITY DONEE" Or THE CITY OF LA "TA un DAY OF _____- , 10 _ . CITY ENONEER CITY OF LA OMTA FILED N THE OFFICE OF THE CITY CLERK THIS — DAY OF . yD — . AN ASSESSM r us LEVIED BY THE CITY COUNCIL OF THE CITY OF LA QUINTA ON THE LOT% PIECES AND PARCELS OF LAND SHOWN ON THS ASSESSMENT OIAGR W. SAID ATTACHMENT WAS LEVIER ON THE BAY OF �D — . SAD ASSESSMENT DIAGRAM AND ASSESSMENT ROLL TIERE REOORGEO N THE OFFICE OF THE SUPE"TEIAMT OF STREETS OF SAID CITY ON THE — DAY OF ZO -- • fluor a 6 MADE TO DE ASSMS- 1TW CIT EMG�R THE AMOUROLL RECOMU IN THE OFFICE lNT OFF EACH ASSESSMENT LEM AGAINST EACH PARCEL OF LAND SHOWN ON DNS ASSESS- MENT DIAGRAM. CITY CLERK CITY OF LA gMTA 012 OUT :aa PROPOSED PHASE VI IMPROVEMENTS ASSESSMENT DIAGRAM ASSESSMENT DISTRICT NO.98-19 EXHIE ZONES A AND B I I 1 I 1 1 I 1 1 1 1 1 I 1 I 1 I I I m 1 1 1 1 I 1 1 I 1 1 I 1 1 1 1 t 1 I I I I I I I 1 C+iwaLe arm. omwof/rrM A* aw.araffa b - C A L L E T A M P I C 0 N � ® O • to 1 `.� z ®® _._r. 0: ® ® _ ® ® > K_- • z ® ® W 1 O ----� ® ® m 1' M 1 1 1 1 1 I 1 ® ® M 1 1 1 • 1 • •1 •1• I ® 1y\1 1 1 �1 •OD• 1 I 1� • I `.11 J_� R' \\ 4 • / 3•\\\ \ = tw J� I I j` kW I I Ilkul 1 to La 03 MOM 1 mom f*0 {M V/E, IFif SFr+ ,p a ,Fyn J� I�f� dp--j moD mil Fa c, I N A ---^1 r---------I f Inmla r "N'.... 26 100 FffT No m 400 013 PROPOSED PHASE VIIMPROVEMENTS ASSESSMENT DIAGRAM � 3 Or ASSESSMENT DISTRICT NO.98-f9 ZONES AAND B EXHIE a& of La Ot" Gbunh' d R/randea SpU dCaNllorrM� ---------- i i i i 1 Z18 2t9 220 221 222 223 217 j Nq VENTURA I _�; : ; ; zta zz7 zze zz9 z3o zst 224 TI I I I I 1 1 I I I I 1 Trr 1 1 1 1 1 1 1 1 I �F=VI 11 I ® 11 1 1 I 1 I 1 I I 1 1 1 1 1 1 1 1 1 1 1 1 1 11 1 1 1 AVENIDA 219 LA 226 I F l0 1 YYY K(*O O® LLP 327 328 4 265 2a8 267 268 ___ -- 1 1 1 1 1 1 �- ^11a1 �`_jm CALLE ESTAD0 FORTUNA w i °g01010 s4 27t 73 74 275 -F— _ I Li LLJ N 1 I 1----y I Lwj----� CALLE CADIZ --- _ LLI ---� I ; zat a2 2e2 2a3 za4 z8S zea --- N I I 1 W--' 289 i 290 291 92 2a1 . 1 I J L _ CALLE 1 I 1 299 298 97 w 4 1 w --- � Z 302 O O 303 C 293 Iw --- > 25 100 FEET CALLE rCO 0 50 m 4W I I J UEGEND: -- 52 nd AVENUE T"A" 014 l"W4O. PROPOSED PHASE VI IMPROVEMENTS ASSESSMENT DIAGRAM ASSESSMENT DISTRICT NO. 9& 19 ZONES A AND B EXHIBIT " /\ " awofLSQ*W ftmvofmvww* &No of cawwwu -'-1 1` '-- ---- iA V E1 ,i71 ---- �`6A�7► --i 1_ -� A'T IC- -- ® ® ® O 434 O O 425 O t" ® < ® 0 74 ® ® ® m 410 4Y7 < I N ��� La � ® 0 ':ED ® rJ 41! 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Nolow ice■ �/Y. - ' • • • .. � III �I� ' 10 � t .a �i ,L�- a� �= n Tjht 4 4 Qum& AGENDA CATEGORY: BUSINESS SESSION: COUNCIL/RDA MEETING DATE: March 7, 2000 CONSENT CALENDAR: ITEM TITLE: • STUDY SESSION: PUBLIC HEARING: Consideration of a Request by Building Horizons for an Affordable Housing Agreement for a 71h Year Funding By and Between the La Quinta Redevelopment Agency and Building Horizons RECOMMENDATION: Approve the Affordable Housing Agreement, authorize the Chairman to sign the necessary documents and appropriate $210,000 from Redevelopment Project Area No. 1 Low and Moderate Income Housing Fund. FISCAL IMPLICATIONS: The program as outlined. in the Agreement will require an expenditure of up to $210,000. The Agreement, however, provides that the Agency be repaid up to $150,000 at the close of escrow when the two single family dwellings are sold. The source of these funds will be the Agency's Project No. 1 Low and Moderate Income Housing Fund. BACKGROUND AND OVERVIEW: In 1994, the Agency entered into a Disposition and Development Agreement with Building Horizons to facilitate the construction and sale of two single family homes to low or moderate income households. Subsequent to this Agreement, each year the Agency has entered into an Affordable Housing Agreement to provide assistance with the program. To date, all the houses constructed have been sold. The houses currently under construction for the 6th Year program have buyers who are pre -qualified for the loan. Due to the success of the program, Building Horizons is requesting continuance of this program for the 2000/2001 Fiscal Year (Attachment 1)• This Agreement is attached (Attachment 2) for your consideration. CAMy Documents\WPDOCS\CCJH.004 FINDINGS AND ALTERNATIVES: Alternatives available to the Agency Board include: 1. Approve the Affordable Housing Agreement, authorize the Chairman to sign the necessary documents and appropriate $210,000 from Redevelopment Project Area No. 1 Low and Moderate Income Housing Fund; or 2. Do not approve the Affordable Housing Agreement; or 3. Provide staff with alternative direction. Respectfully submitted, Jerry Herman Community Develop ent Director Approved for submission by: e - 2t Thomas P. Genovese, Executive Director Attachments: 1. Letter from Building Horizons 2. Affordable Housing Agreement-2000/2001 -- 002 CAMy Documents\WPDOCS\CCJH.004 ATACHMENT 1 Joseph R. Sitko Executive Director BUILDING HORIZONS BOARD OF DIRECTORS OFFICERS Robert C. Perryman, President AI McCandless, Vice President Leo Wyler, Secretary Les Peterson, Treasurer BOARD OF DIRECTORS Jim Burruss Regional Administrator, ROP Riverside County Office of Education Richard Espinoza Vice President Housing Operations Del Webb Sun City Palm Desert Mike Fedderly President Fedderly & Associates John Foster President West Coast Turf Al McCandless U.S. Representative, 40 District Retired Lucia Moran Vice President Mark Moran & Associates Richard O'Donnell Professor Architecture/Environmental Desinn, College of the Desert Robert C. Perryman Vice President Operations Sunrise Colony Company Les Peterson, CPA Peterson, Slater, Osborne Accountancy Corp. U� — +- i� 17 CI T `r uF i-.AQUINTA t PLANNING 'DEPARTMENT February 17, 2000 Mr. Jerry Herman Director of Community Development City of La Quinta P.O. Box 1504 La Quinta, CA 92253 Dear Mr. Herman: I am writing to request approval from the City of La Quinta Redevelopment Agency for your support of the Building Horizons program for the academic year 2000/2001. As in previous years, we request the Redevelopment Agency to allocate a total of $210,000 to fund the program. When the two homes close in the spring of 2001, $90,000 will be repaid to the Redevelopment Agency. The remaining $120,000 will be made available to the purchasers of the homes as a quiet second. Building Horizons is very pleased with the partnership we have with the City of La Quinta Redevelopment Agency and the opportunity to construction additional homes for low-income families while providing a quality educational program for our students. We look forward to our continued work with you. Sincerely, Steve Sprinkles Computer Technology Consultant Dennis Wish, P.E. / Structural Engineering Consultant Leo Wyler 4ph Sitko Corporate Executive Retired JRS/ds Am, 42-600 Cook St. Ste.120 - Palm Desert, CA 92211 - PH: 760.340.4748 - FAX: 760.340.6388 - BuildNKids6aol.com ATTACHMENT 2 2000/2001 AFFORDABLE HOUSING AGREEMENT BY AND 13ETWEEN LA QUINTA REDEVELOPMENT AGENCY, AGENCY AND BUILDING HORIZONS, DEVELOPER CAMy Documents\WPDOCS\AHA Building Horizons.wpd 005 I II. Table of Contents [100] SUBJECT OF AGREEMENT ........................................ 1 A. [101] Purpose of Agreement ........................................ 1 B. [102] The Redevelopment Plan ...................................... 1 C. [103] The Site...................................................I D. [104] Parties to the Agreement ...................................... 2 1. [105] The Agency:.........................................2 2. [106] The Developer ........................................ 2 3. [107] Prohibition Against Change in Ownership, Management and Control of Developer and Prohibition Against Transfer of the Site............................................2 E. [108] Representations by the Developer ............................... 3 [200] AGENCY ASSISTANCE ........................................... 4 A. [201 ] Acquisition and Construction Financing .......................... 4 B. [202] Conditions Precedent to the Funding of Acquisition Financing ........ 4 C. [203] Home Buyer Loan and Second Trust Deed ........................ 5 D. [204] Acquisition of the Site ........................................ 5 E. [205] Escrow....................................................6 F. [206] Conveyance to Eligible Persons and Families ...................... 7 [300] DEVELOPMENT OF THE SITE ...................................... 7 A. [301] Development of the Site ....................................... 7 1. [302] Scope of Development .................................. 7 2. [303] Site Plan .............................................8 3. [304] Review and Approval of Plans, Drawings, and Related Documents 8 4. [305] Cost. of Development ................................... 9 5. [306] Construction Schedule .................................. 9 6. [307] Indemnity, Bodily Injury and Property Damage Insurance ...... 9 7. [308] City and Other Governmental Agency Permits .............. 10 8. [309] Rights of Access ..................................... 10 9. [310] Local, State and Federal Laws ........................... 10 10. [311 ] Anti -Discrimination ................................... 10 11. [312] Taxes and Assessments ................................ 11 B. [313] Prohibition Against Transfer of the Site, the Buildings or Structures Thereon and Assignment of Agreement ......................... 11 C. [314] Right of the Agency to Satisfy Other Liens on the Site(s) After Title Passes....................................................11 D. [315] Certificate of Completion .................................... 11 C:\My Documents\WPDOCS\AHA Building Horizons.wpd IV. [400] USE OF THE SITE ............................................... 12 A. [401 ] Affordable Housing ......................................... 12 B. [402] Uses In Accordance with Redevelopment Plan; Nondiscrimination .... 19 C. [403] Effect of Violation of the Terms and Provisions of this Agreement After Completion of Construction ................................... 20 D. [404] Maintenance of the. Site .............................. ......21 V. [500] DEFAULTS AND REMEDIES ...................................... 21 A. [501] Defaults -- General .......................................... 21 B. [502] Legal Actions............................................21 1. [503] Institution of Legal Actions ............................. 21 2. [504] Applicable Law ...................................... 22 3. [505] Acceptance of Service of Process ........................ 22 C. [506] Rights and Remedies Are Cumulative ........................... 22 D. [507] Inaction Not a Waiver of Default ............................... 22 E. [508] Remedies and Rights of Termination ........................... 22 1. [509] Damages............................................22 2. [510] Specific Performance .................................. 23 3. [511 ] Right of Termination by the Developer .................... 23 4. [512] Termination by the Agency ............................. 23 F. [513] Remedies of the Parties for Default After Closing of the Acquisition Escrow...................................................24 1. [514] Termination and Damages .............................. 24 VI. [600] GENERAL PROVISIONS .......................................... 24 A [601] Notices, Demands and Communications Between Parties ........... 24 B. [602] Conflicts of Interest ......................................... 24 C. [603] Enforced Delay; Extension of Times of Performance ............... 24 D. [604] Non -Liability of Officials and Employees of the Agency and the Developer.................................................25 E. [605] Entire Agreement, Waivers ................................... 25 VII. [700] TIME FOR ACCEPTANCE OF AGREEMENT BY AGENCY ...................................................................26 CAMy DocumentsMPDOMAHA Building Horizonsmpd - 00 Attachment No. 1 Attachment No. 2 Attachment No. 3 Attachment No. 4 Attachment No. 5 Attachment No. 6 Attachment No. 7 Attachment No. 8 Attachment No. 9 Attachment No. 10 Attachment No. 11 ATTACHMENT Scope of Development Schedule of Performance Developer Promissory Note Developer Deed of Trust Declaration of Conditions, Covenants and Restrictions Certificate of Completion Maximum Sales Price Example Certificate of Proposed Transferee Notice of Intent to Transfer Request for Approval of Proposed Transferee Assumption Agreement C:\My DocumentsMI'DOMAHA Building Horizons.wpd AFFORDABLE HOUSING AGREEMENT This Affordable Housing Agreement ("Agreement") is entered into by and between LA QUINTA REDEVELOPMENT AGENCY, a public body corporate and politic (the "Agency") and BUILDING HORIZONS, a California nonprofit public benefit corporation (the "Developer"). The Agency and the Developer (collectively referred to as the "Parties") hereby agree as follows: I. [100] SUBJECT OF AGREEMENT A. [ 101 ] Prose of Agreement The purpose of this Agreement is to effectuate the Redevelopment Plan (as hereinafter defined) for the La Quinta Redevelopment Project (the "Project") by providing for the improvement of certain property situated within the Project Area of the Project (the "Project Area"), by assisting in the financing of the acquisition and development of two parcels (the "Site") situated within the Project Area, including the completion of a single-family home on each parcel and the long-term maintenance of such housing at an affordable housing cost for persons and households of low and moderate -income, all as more fully described in this Agreement. The Agency financial assistance in this Agreement shall be utilized to effectuate a portion of the Agency's overall affordable housing program pursuant to the requirements of California Health and Safety Code Section 33334.2 to expend twenty percent (20%) of its increment funds to improve, increase and preserve the community's supply of low- and moderate housing. The acquisition and development of the Site and the occupancy of the units as developed by households of limited incomes all as provided in this Agreement are in the vital and best interests of the City of La Quinta (the "City") and the health, safety and welfare of its residents, and in accord with the public purposes and provisions of applicable state and local laws and requirements under which the Project has been undertaken. B. [102] The Redevelopment Plan The Redevelopment Plan for Project Area No. 1 (the "Redevelopment Plan") was approved and adopted by Ordinance No. 43 of the City Council of the City of La Quinta on November 29, 1983 and amended by Ordinance No. 258 on December 20, 1994 and Ordinance No. 264 on March 7, 1995; said ordinance as amended and the Amended Redevelopment Plan are incorporated herein by reference. C. [103] The Site The "Site" shall consist of two parcels of real property within the Project Area in the City of La Quinta, County of Riverside. The Site shall be acquired by the Developer. A maximum of two (2) detached, single-family homes will be developed on the Site (one on each parcel) in accordance with the "Scope of Development" and by the times set forth in the "Schedule of Performance," which are attached hereto as Attachment Nos. 1 and 2, respectively, and incorporated herein by reference. C:\My Documents\WPDOMAHA Building Horizons.wpd 1 - oos. Any material change, as reasonably determined by the Agency, in the Scope of Development (Attachment No. 1) or in the approved site plan which affects the size, quality, or type of development proposed for one or more of the parcels shall require the written approval of the Agency, which approval may be contingent upon the review and renegotiation of all of the economic and financial terms of this Agreement and such other matters as the Agency shall deem appropriate. D. [104] Parties to the Agreement 1. [105] The Agency The Agency is a public body, corporate and politic, exercising governmental functions and powers and organized and existing under Chapter 2 of the Community Redevelopment Law of the State of California, Division 24 of the California Health and Safety Code, the principal office of the Agency is located at 78-495 Calle Tampico, La Quinta, California 92253, or such other address as Agency shall hereafter designate in writing to Developer. "Agency", as used in this Agreement, includes the La Quinta Redevelopment Agency and any and all assignees of or successors to its rights, powers and responsibilities. 2. [106] The Developer The Developer, Building Horizons, is a California nonprofit public benefit corporation. The principal office and mailing addresses of the Developer for purposes of this Agreement is 42-600 Cook Street, Suite 120, Palm Desert, California 92211. By executing this Agreement, each person signing on behalf of the Developer warrants and represents to the Agency that the Developer has the full power and authority to enter into this Agreement, that all authorizations required to make this Agreement binding upon the Developer have been obtained, and that the person or persons executing this Agreement on behalf of the Developer are fully authorized to do so. Whenever the term "Developer" is used in this Agreement, such term shall include any and all nominees, assignees, or successors in interests as herein provided. 3. [107] Prohibition Against Change in Ownership_ Management and Control of Developer and Prohibition Against Transfer of the Site The qualifications and identity of the Developer are of particular interest to the Agency. It is because of these qualifications and identity that the Agency has entered into this Agreement with the Developer. Consequently, no person, whether a voluntary or involuntary successor of Developer shall.acquire any rights or powers under this Agreement nor shall the Developer assign all or any part of this Agreement or the Site without the prior written approval of the Agency. A voluntary or involuntary sale or transfer of any interest in the Developer of the Site prior to the issuance of a Certificate of Completion for the Improvements with respect to such Site CAMy Documents\WPDOMAHA Building Horizons.wpd 2 010 shall be deemed to constitute an assignment or transfer for the purposes of this Section 107, and the written approval of the Agency shall be required prior to effecting such an assignment or transfer. Any purported transfer, voluntarily or by operation of law, except with the prior written consent of the. Agency, shall render this Agreement absolutely null and void and shall confer no rights whatsoever upon any purported assignee or transferee. Prior to the issuance of a Certificate of Completion for the Improvements, the Developer shall not, except as permitted by this Agreement, assign or attempt to assign this Agreement or any rights or duties herein, nor make any total or partial sale, transfer, conveyance, or assignment of the whole or any part of the Site or the Developer Improvements thereon, without the prior written approval of the Agency. Notwithstanding any other provision of this Agreement to the contrary, Agency approval of an assignment or this Agreement or transfer of the Site or any interest therein shall not be required in connection with the conveyance or dedication of any portion of the Site to the City of La Quinta or other appropriate governmental agency, including public utilities, where the granting of such easements permits or facilitates the development of the Site. This Section 107 shall become inapplicable for each Site as to which the Agency has issued a Certificate of Completion pursuant to Section 316 of this Agreement. E. [108] Representations by the Developer The Developer represents and warrants to the Agency as follows: 1. The Developer is duly established and in good standing under the laws of the State of California and has duly authorized, executed and delivered this Agreement and any and all other agreements and documents required to be executed and delivered by the Developer in order to carry out, give effect to, and consummate the transactions contemplated by this Agreement. This Agreement is enforceable against the Developer in accordance with its terms. 2. The Developer does not have any contingent obligations or contractual agreements which could adversely affect the ability of the Developer to carry out its obligations hereunder. 3. There are no pending or, so far as is known to the Developer, threatened, legal proceedings to which the Developer is or may be made a party or to which it or any of its property is or may become subject, which have not been fully disclosed in the material submitted to the Agency, which could adversely affect the ability of the Developer to carry out its obligations hereunder. 4. There is no action or proceeding pending or, to the Developer's best knowledge, threatened, looking toward the dissolution or liquidation of the Developer and there is no action or proceeding pending or, to the Developer's best knowledge, threatened by or against the Developer which could affect the validity and enforceability of the terms of this Agreement, or adversely affect the ability of the Developer to carry out its obligations hereunder. C:\My Documents\WPDOMAHA Building Horizonsmpd 3 oil. 5. The Developer has, and will as required by its obligations hereunder, dedicate, allocate and otherwise make available, sufficient financial and other resources to perform its obligations under this Agreement. Each of the foregoing items 1 to 5, inclusive, shall be deemed to be an ongoing representation and warranty and shall survive the close of escrow for the Site(s). The Developer shall advise the Agency in writing if there is any change pertaining to any matters set forth or referenced in the foregoing items 1 to 5, inclusive. II. [200] AGENCY ASSISTANCE The "Agency Assistance" shall be comprised of two components: (1) acquisition and construction financing, and (2) second trust deed assistance for the low or moderate income buyer. A. [201 ] Acquisition and Construction Financing (I) Agency shall provide financing in a total amount not to exceed of Two Hundred and Ten Thousand Dollars ($210,000) for the acquisition of both parcels of the Site and the complete construction of both housing units by Developer pursuant to the terms of the Scope of Development (Attachment No. 1), the Schedule of Performance (Attachment No. 2) and the Developer Promissory Notes and Developer Deed of Trusts (Attachments Nos. 3 and 4, attached hereto and incorporated herein by this reference); (ii) Each parcel shall have a separate Developer Promissory Note and Developer Deed of Trust; (iii) Agency Funds for each Developer Promissory Note in an amount not to exceed $105,000 for each of the housing units shall be dispersed directly to escrow for the acquisition costs portion and the remaining amount shall be disbursed according to a combination of a construction schedule and invoice documentation to be approved by the Agency Executive Director; (iii) The Developer Promissory Note for each property of the Site shall bear no interest and shall be due and payable upon the sale of the corresponding lot to an Eligible Person or Family as defined in Section 401. B. [202] Conditions Precedent to the Funding of Acquisition Financing Prior to and as conditions to funding any portion of the Developer Promissory Note, the Developer shall complete each of the following by the respective times established therefor in the Schedule of Performance (Attachment No. 2): l . the Developer shall not be in default of this Agreement; 2. the Developer provides to the Executive Director insurance certificates conforming to Section 30.8 of this Agreement; CAMy DocumentsMPDOMAHA Building Horizons.wpd 4 y ' 0112 3. the Developer shall have executed and deposited with escrow for delivery to the Agency the Developer Promissory Note for each lot (Attachment No. 3); 4. the Developer shall have executed and deposited with escrow for recordation and delivery to the Agency the Declaration of Conditions, Covenants and Restrictions concerning the use of and maintenance of the Site for each lot (Attachment No. 5) and the Developer Deed of Trust for each lot; and The foregoing items numbered 1 to 5, inclusive, together constitute the "Conditions Precedent to the Agency funding of the acquisition portion of the Developer Promissory Note." C. [203] Home Buyer Loan and Second Trust Deed Home Buyer Assistance funds shall be in the form of a promissory note ("Buyer Promissory Note") secured by a second trust deed ("Buyer Second Trust Deed") to assure the affordability of the housing unit to low and moderate income buyers as defined in Section 401 hereof. The amount of second trust deed funds available shall be determined at the time of qualifying the proposed low or moderate income buyer of the unit. The final amount shall be approved by the Executive Director in compliance with the Agency Board's goals and policies for its affordable housing program. The basic form of the Buyer Promissory Note and the Buyer Second Trust Deed shall be that form currently approved for use by the Agency for its affordable housing program at the time of the sale of the units to the buyers. The form may need revision at a staff level to be current with Fannie Mae, HUD or other government or lender requirements. Basic terms of the Buyer Promissory Note shall include: (I) zero percent interest; (ii) 30-year term; (iii) no payments due unless sale to a nonqualified buyer triggers payment under equity share provision; (iv) assumability to a qualified buyer, and (v) full credit of all payments at end of term if all conditions, covenants and restrictions have been followed. The Agency Assistance has been funded from the Agency's Low and Moderate Income Housing Fund. Accordingly, Developer acknowledges and agrees that the use of the Site shall be subject to all of the income and affordability restrictions set forth in this Agreement, and the Declaration of Covenants, Conditions and Restrictions (Attachment No. 5). D. . [204] Acquisition of the Site The Developer will acquire a fee simple marketable interest to the Site. The cost of the Developer to acquire each parcel, including consideration payable to owners, relocation benefits or assistance, escrow charges, premiums for title insurance and other closing costs, appraisal fees, preliminary title reports, reasonable attorneys fees, and other related charges shall be approved in advance by the Executive Director and included in the site cost calculation as allowable costs to be advanced under the Developer Promissory Note dispersement schedule as approved by the Executive Director. 01,E C:\My Documents\WPDOMAHA Building Horizonsmpd 5 E. [205] Escrow The Developer agrees to open an escrow or escrows (the "Acquisition Escrow(s)") with Dixie Escrow Co., or with another mutually agreeable escrow company (the "Escrow Agent"), by the time established therefor in the Schedule of Performance (Attachment No. 2). This Agreement constitutes the lenders escrow instructions for the financing of the Site acquisition and a duplicate original of this Agreement shall be delivered to the Escrow Agent upon the opening of the Acquisition Escrow. The Escrow Agent is hereby empowered to act under this Agreement, and the Escrow Agent, upon indicating within five (5) days after the opening of the Acquisition Escrow its acceptance of the provisions of this Section 205, in writing, delivered to the Agency and the Developer, shall carry out its duties as Escrow Agent hereunder. The Agency shall pay into the Acquisition Escrow the total amount of the purchase price for each lot in the Site and the following fees, charges and costs for each lot promptly after the Escrow Agent has notified the Agency of the total amount of such purchase price, fees, charges and costs, but not earlier than ten (10) days prior to the scheduled date for closing the Acquisition Escrow: 1. The Escrow fee; and 2. Cost of drawing the grant deed; 3. Recording fees; 4. Notary fees; 5. The title insurance policy; and 6. Any transfer tax and any state, county or city documentary stamps. The Escrow Officer shall notify the Agency when all outstanding documents including the grant deed to the Developer, the Developer Trust Deed and the Declaration of Conditions Covenants and Restrictions have executed and submitted to Escrow by the applicable parry. The Agency shall provide the funds pursuant to the Developer Promissory Note directly to Escrow within three (3) business days of the notice by Escrow that all other contingencies to the closing have been met and the above documents are ready to record. The Escrow Agent is authorized to utilize the Agency funds provided pursuant to the Developer's Promissory Note for the above acquisition costs on the condition of the immediate recording of the Developer's Deed of Trust (Attachment No. 4) and the Conditions, Covenants and Restrictions (Attachment No. 5) after recording of the grant deed vesting title in the Developer's name. CAMy DocumentsMPDOMAHA Building Horizonsmpd 6 014 All funds received in this Acquisition Escrow shall be deposited by the Escrow Agent, with other escrow funds of the Escrow Agent in an interest -earning general escrow account or accounts with any state or national bank doing business in the State of California. Such funds may be transferred to any other general escrow account or accounts. All disbursements shall be made by check of the Escrow Agent. If this Acquisition Escrow has not closed within three working days of the receipt by Escrow of the Agency funds then said funds shall be returned to the Agency unless written authorization to retain the funds is provided by the Agency Executive Director. Any amendment to these lender's escrow instructions shall be in writing and signed by the Agency. At the time of any amendment, the Escrow Agent shall agree to carry out its duties as Escrow Agent under such amendment. The liability of the Escrow Agent in the capacity of escrow holder with respect to the Agency is limited to performance of the obligations imposed under it under this Section 205 of this Agreement. F. [206] Conveyance to Eligible Persons and Families At such time as the Developer conveys each parcel of the Site to Eligible Persons and Families, it shall assure that the Conditions, Covenants and Restrictions (Attachment No. 5) remain of second seniority to the lien of any financing, and that the Second Deed of Trust is recorded in a second lien position, behind the lien securing purchase money financing. The conveyances of lots shall be accomplished by grant deed which sets forth the affordability and nondiscrimination provisions in the form to be approved by the Agency Executive Director and Agency Counsel prior to transfer of property to Eligible Person or Family. III. [300] DEVELOPMENT OF THE SITE A. [301 ] Development of the Site 1. [302] Scope of Development Each parcel of the Site shall be developed as a detached, single-family housing unit as provided in the Scope of Development (Attachment No. 1). The development of the Site shall include both public improvements and private improvements on the Site and public improvements off -site required in the normal course of City review by the City associated with the development of the Site (collectively, the "Improvements"). Upon close of the Acquisition Escrow, the Developer shall commence and complete construction of the Improvements for each individual lot of the Site by the respective times established therefor in the Schedule of Performance (Attachment No. 2). CAMy Documents\WPDOMAHA Building Horizons.wpd 7 v 015 The Scope of Development (Attachment No. 1) shall include any plans and specifications submitted to the City and/or Agency for approval, and shall incorporate or show compliance with all mitigation measures. 2. [303] Site Plan By the time set forth therefor in the Schedule of Performance (Attachment No. 2), the Developer shall prepare and submit to the City for its approval a Site Plan and related documents which conform to. requirements of the City and which contain the overall plan for development of the Site in sufficient detail to enable the City to evaluate the proposal for conformity to the requirements of the La Quinta Municipal Code and this Agreement. The Site shall be developed as established in this Agreement and such documents, except as changes may be mutually agreed upon between the Developer and the Agency. Any such changes shall be within the limitations of the Scope of Development (Attachment No. 1). The landscaping and finish grading plans shall be prepared by a professional landscape architect or registered civil engineer who may be the same firm as the Developer's architect or civil engineer. During the preparation of all drawings and plans, staff of the City and the Agency and the Developer shall hold regular progress meetings to coordinate the preparation of, submission to, and review of drawings, plans and related documents by the City. The staff of City and the Agency and the Developer shall communicate and consult informally as frequently as is necessary to insure that the formal submittal of any documents to the Agency can receive prompt and speeding consideration. 3. [304] Review and Approval of Plans. Drawings. and Related Documents The Agency and the City shall have the right of planning, including plan check, review of all plans and submissions, including any changes therein. During each stage of the processing of plans for the Improvements, the Agency and the City shall have the right to require additional information and shall advise the Developer if any submittal of plans or drawings is not complete or not in accordance with City/Agency procedures. If the Agency or the City determines that such a submittal is not complete or not in accordance with procedures, such tender shall not be deemed to constitute a submittal for purposes of satisfying the Schedule of Performance (Attachment No.2). If the Developer desires to make any substantial changes in the construction plans after their approval by the Agency and the City, the Developer shall submit the proposed change to the Agency and the City for their approval. If the construction plans, as modified by the proposed change, conform to the requirements of this Section 305 and the Scope of Development (Attachment No. 1), the Agency and the City will approve the proposed change and notify the Developer in writing within thirty (30) days after submission to the Agency and the City. C:\My Documents\WPDOCS\AHA Building Horizons.wpd 8 " ' O 1 a 4. - [305] Cost of Development All costs for planning, designing, and constructing the Improvements shall be borne exclusively by the Developer. The Developer shall also bear all costs related to discharging the duties of the Developer set forth in this Agreement. The Developer assumes the responsibility to construct, and shall let contracts for or cause to be constructed, all off -site public improvements developed pursuant to this Agreement, substantially in conformity with procedures used by the Agency when competitive bidding is deemed to be required. The Developer shall be responsible for all fees associated with development of the Improvement, including, but not limited to, school facilities fees and impact fees. 5. [306] Construction Schedule The Developer shall commence and complete the Improvements by the respective times established therefor in the Schedule of Performance (Attachment No. 2). 6. [307] Indemnity. BodilyInjuuy and Prolerty Damage Insurance The Developer shall defend, assume all responsibility for and hold the Agency and the City, and their respective officers, agents and employees, harmless from all claims or suits for, and damages to, property and injuries to persons, including accidental death (including attorneys fees and costs), which may be caused by any of the Developer's activities under this Agreement, whether such activities or performance thereof be by the Developer or damage shall accrue or be discovered before or after termination of this Agreement. The Developer shall take out and maintain during the life of this Agreement a comprehensive liability policy in the amount of One Million Dollars ($1,000,000) combined single limit policy, including contractual liability, as shall protect the Developer, the City, and the Agency from claims for such damages. Coverage shall be primary and not contributing with any policy or coverage maintained by or obtained by the Agency, and an appropriate endorsement shall so state. The policy shall contain a waiver of subrogation. Insurance coverage furnished by the Developer pursuant to this Section 308 shall conform to this Section 308 and shall pertain to all activities on the Site and adjacent public rights -of -way surrounding the Site and all work on off -site public improvements. Developer shall furnish or cause to be furnished to the Agency a certificate of insurance from the insurer evidencing compliance with this Section 308 and providing that the insurer shall not change or modify the policy without thirty (30) days' prior written notice to Agency. In the alternative, Developer may show proof of a certificate of consent to self -insure issued by the Director of Industrial Relations according to California Labor Code Section 3800. The Developer additionally agrees to and shall save the Agency and the City and their officers, employees and agents harmless from and assume all responsibility for any and all liability or responsibility for damage, costs losses, or suit arising in any manner from the approval of this Agreement or the development and activities conducted pursuant to this Agreement. This obligation and indemnification shall constitute a covenant running with the land throughout the life of the Redevelopment Plan. 01'7 CAMy Documents\WPDOMAHA Building Horizonsmpd 9 7. [308] City and Other Governmental Agency Permits Before commencement of construction or development of any buildings, structures or other works of improvement upon the Site or in connection with any off -site improvement, the Developer shall, at its own expense, secure or cause to be secured any and all permits which may be required by the City or any other governmental agent affected by such construction, development or work. It is understood that the Developer's obligation is to pay all necessary fees and to timely submit to the City final drawings with final corrections to obtain building permit; the Agency will, without obligation to incur liability or expense therefor, use its best efforts to expedite issuance of building permits and certificates of occupancy for construction that meet the requirements of the City Code. 8. [309] Rights of Access For purpose of assuring compliance with this Agreement, representatives of the Agency and the City shall have the right of access to the Site without charges or fees, at normal business hours during the period of this Agreement for the purposes of this Agreement, including, but not limited to, the inspection of the work being performed in constructing the Improvements, so long as they comply with all safety rules. Such representatives of the Agency or of the City shall be those who are so identified in writing by the Executive Director of the Agency. The Agency shall hold the Developer harmless from any bodily injuryor related damages arising out of the activities of the Agency and the City as referred to in this Section 310. 9. [310] Local. State and Federal Laws The Developer shall perform under this Agreement and carry out its performance under this Agreement, including without limitation the construction of the Improvements, in conformity. with all applicable federal and state laws and local ordinances, including all applicable federal and state labor standards, as to the Site, provided, however, Developer and its contractors,' successors, assigns, transferees, and lessees are not waiving their rights to contest any such laws, rules or standards. 10. [311 ] Anti -Discrimination Pursuant to Section 33435 and 33050 of the California Community Redevelopment Law, the Developer for itself and its successors and assigns, agrees, that in the construction of Improvements on the Site or other performance under this Agreement, the Developer will not discriminate against any employee or applicant for employment because of sex, marital status, race, color, religion, ancestry, or national origin. 11. [312] Taxes and Assessments After the Agency Conveyance the Developer shall pay prior to delinquency all real estate taxes and assessments on the Site so long as the Developer retains any interest thereon. Prior to the Developer Conveyance, the Developer shall remove or have removed any levy or attachment made on any of the Site or any part thereof, or assure the satisfaction thereof within a CAMy DocumentsMPDOMAHA Building Horizonsmpd 10 reasonable time but in any event prior to said sale or transfer. Notwithstanding the above, the Developer shall have the right to contest the validity or amounts of any tax, assessment, or encumbrance available to the Developer in respect thereto. B. [313] Prohibition Against Transfer of the Site. the Buildings or Structures Thereon and Assignment of Agreement Except as to the sale of any home to an owner -occupant in accordance with this Agreement, the Developer shall not, except as may be expressly permitted by this Agreement, without prior approval of the Agency, make any total or partial sale, transfer, conveyance of, or enter into any assignment or ground lease of or refinance the whole or any part of the Site or of the buildings or structures on the Site. This prohibition shall not be deemed to prevent the granting of temporary or permanent easements or permits to facilitate the development of the Site or to prohibit or restrict the sale of "Restricted Units" to "Eligible Persons or Families" (as defined in Section 401) in conformity with Section 401 of this Agreement. C. [314] Right of the Agency to Satisfy Other Liens on the Site(s) After Title Passes After the Agency Conveyance and prior to the completion of construction, and after the Developer has had written notice and has failed after a reasonable time, but in any event not less than forty-five (45) days, to challenge, cure, adequately bond against, or satisfy any liens or encumbrances on the Site which are not otherwise permitted under this Agreement, the Agency shall have the right but no obligation to satisfy any such liens or encumbrances. Notwithstanding the above, the Developer shall have the right to contest the validity or amounts of any tax, assessment, or encumbrance available to the Developer in respect thereto. D. [315] Certificate of Completion Promptly after the completion of all bf the Improvements and their sale to Eligible Persons or Families (as defined in Section 401 hereof) in conformity with this Agreement (as determined by the Executive Director of the Agency), upon the written request of the Developer relating only to those Site as to which construction has been completed in accordance with this Agreement the Agency shall furnish the Developer with the Certificate of Completion (in the form attached hereto as Attachment No. 6) which evidences and determines the satisfactory completion of the construction, development and sale to an Eligible Person or Family, as to any single-family home, pursuant to the provisions and covenants specified in this Agreement, the Redevelopment Plan and the California Community Redevelopment Law. The issuance and recordation of a Certificate of Completion (Attachment No. 6) with respect to the Improvements shall not supersede, cancel, amend or limit the continued effectiveness of any obligations relating to the maintenance, or uses, or payment of monies, or any other obligations, except for the obligation to complete construction of the Improvements as of the time of the issuance of such applicable certificate. If the Agency refuses or fails to furnish a Certificate of Completion after written request from the Developer, the Agency shall, within forty-five (45) days of the written request, provide the Developer with a written statement of the reasons the Agency refused or failed to furnish such Certificate of Completion. 019 CAMy DocumentsMPDOMAHA Building Horizons.wpd 11 Upon issuance of a Certificate of Completion (Attachment No. 6) for the Improvements, construction of such Improvements as to any single-family home shall be deemed to have been completed in conformity with this Agreement. The Certificate of Completion (Attachment No. 6) is not a notice of completion as referred to in Section 3093 of the California Civil Code. The issuance of a Certificate of Completion shall not affect the continued effectiveness of the Developer Deed of Trust (Attachment No. 4) and the Declaration of Conditions, Covenants and Restrictions (Attachment No. 5) recorded pursuant to this Agreement. IV. [400] USE OF THE SITE A. [401 ] Affordable Housing_ 1. Number of Units. Developer shall develop two (2) detached, single-family homes - (the "Restricted Units") within the Project Area and shall develop all on -site and off -site public improvements connected therewith, all as described and set forth in the Scope of Development (Attachment No. 1). Developer shall restrict each of the units for sale to a Low or Moderate Income Household pursuant to the applicable income and affordability provisions contained herein. The Developer further covenants and agrees that the above -referenced occupancy, ownership and affordability requirements shall bind and be enforceable against the Site for the period of thirty (30) years commencing with the acquisition of each respective parcel by the Developer with the simultaneous recording of the Conditions, Covenants and Restrictions (Attachment No. 5). 2. Definitions. (a) "Affordable Housing Cost" shall be that purchase price which would result in maximum monthly housing payments for a thirty (30) year mortgage for that portion of the purchase price which is to be paid in the form of loan proceeds under currently prevailing mortgage loan rates or the interest rate of any below -market mortgage program for which such purchaser has obtained a first trust deed loan, for the low or moderate income group calculated pursuant to Health and Safety Code Section 50052.5, which sets forth the following formula: Lower Income Households - whose gross incomes exceed the maximum income for very low income households and do not exceed seventy percent (70%) of the area median income adjusted for family size, the product of thirty percent (30%) times seventy percent (70%) of the area median income adjusted for family size appropriate for the unit. In addition, for any lower income household that has a gross income that equals or exceeds seventy percent (70%) of the area median income adjusted for family size, it shall be optional for any state or local funding agency to require that affordable housing cost not exceed thirty percent (30%) of the gross income of the household. Moderate Income Households - not less than twenty-eight percent (28%) of the gross income of the household, nor more than the product of thirty-five percent (35%) times the greater of one hundred ten percent (110%) of area median income adjusted for family size CAMy Documents\WPDOCS\AHA Build.ng Horizonsmpd 12 020 appropriate for the Affordable Unit, or the gross income of the household for households earning greater than one hundred percent (110%) and not more than one hundred twenty percent (120%) of the area median income adjusted for family size. (b) "Affordability Period" shall be thirty (30) years from the date of transfer to an Eligible Person or Family. (c) "Eligible Person or Family" shall mean any person or family who meets the income qualifications for Moderate Income Households. (d) "Lower Income Household" shall mean a household earning not greater than eighty percent (80%) of Riverside County median income, as determined by the United States Department of Housing and Urban Development from time to time, as set forth in Health and Safety Code Section 50093. (e) "Moderate Income Household" shall mean a household earning not greater than one hundred twenty percent (120%) of Riverside County median income, as determined by the United States Department of Housing and Urban Development from time to time, as set forth in Health and Safety Code Section 50093. (f) '.'Owner" shall mean Developer and any successor in interest of Developer to any lot of the Site except where a provision of this Agreement expressly excludes Developer from the definition of owner. (g) "Proposed Transferee" shall mean a person or family determined to be an Eligible Person or Family to whom the Developer or any successor Owner desires and proposes to Transfer a Restricted Unit. . (h) "Purchase Housing Cost" or an Eligible Person or Family purchasing a Restricted Unit shall include all of the following associated with that Restricted Unit, estimated or known as of the date of their proposed sale of the Restricted Unit: (i) Principal and interest on a mortgage loan including any rehabilitation loans, and any loan insurance fees associated therewith. property improvements. (ii) Property taxes and assessments. (iii) Fire and Casualty insurance covering replacement value of (iv) Any homeowner association fees. Monthly housing cost of a purchaser shall be an average of estimated costs for the next twelve (12) months. C:\My Documents\WPDOMAHA Building Horizons.wpd 13 - 021 (i) '.'Restricted Unit" shall mean a dwelling unit, which shall be a single- family residence, subject to the restrictions of this Agreement (including, without limitation, the Declaration of Conditions, Covenants and Restrictions (Attachment No. 5)). 0) "Sales Price" shall mean all sums paid by a purchaser to a seller for, or in conjunction with, the acquisition of a Restricted Unit, including the purchase price designated in any purchase agreement, consideration for personal property and all other costs and fees paid by the purchaser to or for the benefit of the seller. (k) "Transfer" shall mean any sale, assignment, conveyance, lease or transfer, voluntary or involuntary, of any interest in a Restricted Unit. Without limiting the generality of the foregoing, Transfer shall include (i) a transfer by devise, inheritance or intestacy to a party who does not meet* the definition of Eligible Person or Family; (ii) a life estate; (iii) creation of a joint tenancy interest; (iv) a gift of all or any portion of a Restricted Unit; or (v) any voluntary conveyance of a Restricted Unit. Transfer shall not include transfer to a spouse in a dissolution proceeding; however any subsequent Transfer shall be subject to this restriction. (1) "Transferee" shall mean any natural person or entity who obtains ownership or possessory rights in a Restricted Unit pursuant to a Transfer. 3. Sales of Restricted Units. Developer agrees that Developer shall sell each Restricted Unit to an Eligible Person or Family at an Affordable Housing Cost (the "Developer Conveyance") and that during the Affordability Period each subsequent resale of a Restricted Unit by the then -Owner thereof shall be to an Eligible Person or Family at an Affordable Housing Cost. Developer agrees that the Conditions, Covenants and Restrictions (Attachment No. 5) giving effect to the foregoing restriction shall be recorded against each lot of the Site concurrently with the Acquisition Escrow. Developer agrees to commence to market each Restricted Unit not later than the completion of construction of each Restricted Unit; each Restricted Unit shall be sold to an Eligible Person or Family prior to issuance of a Certificate of Completion as to any such Restricted Unit for purposes of Section 322 hereof. For purposes of satisfying the requirement that all of the Restricted Units shall be occupied by Eligible Persons or Families: (a) an individual or family who qualifies as an Eligible Person or Family at the time he or she first takes title to a Restricted Unit will be deemed an Eligible Person or Family as long as he or she continues to hold title to such Restricted Unit even though the Eligible Person or Family subsequently ceases to meet the income or other requirements of an Eligible Person or Family, and (b) when an Owner releases title to a Restricted Unit, such unit will be "considered as occupied by an Eligible Person or Family if it is held vacant and available for such occupancy until title is transferred to another Eligible Person or Family, at which time the status of the new Owner as an Eligible Person or Family is to be determined. 4. Restrictions on Transfer by Sale of the Restricted Prol2LM or AM Restricted Unit. CAMy DocumentsMPDOMAHA Building Horizonsmpd 14 - 022 (a) For the duration of the Affordability Period, Developer, for itself and any subsequent Owner, hereby subjects the. Site to certain restrictions and limits the price at which Developer or any other Owner may sell and/or resell the Site and the persons to whom Developer or any other Owner may sell the Site. (b) DEVELOPER AND ANY OTHER OWNER UNDERSTANDS THAT THE DETERMINATION OF THE SALES PRICE CAN BE MADE ONLY AT THE TIME OF THE PROPOSED TRANSFER, TAKING INTO CONSIDERATION INTEREST RATES, PROPERTY TAXES AND OTHER FACTORS THAT CANNOT BE ACCURATELY PREDICTED AND THAT THE SALE PRICE PERMITTED HEREUNDER MAY NOT INCREASE OR DECREASE IN THE SAME MANNER AS OTHER SIMILAR REAL PROPERTY WHICH IS NOT ENCUMBERED BY THIS RESTRICTION. DEVELOPER AND ANY OTHER OWNER FURTHER ACKNOWLEDGE THAT, AT ALL TIMES IN SETTING THE SALES PRICE, THE PRIMARY OBJECTIVE OF THE AGENCY AND THIS AGREEMENT IS TO PROVIDE HOUSING TO ELIGIBLE PERSONS OR FAMILIES AT AFFORDABLE HOUSING COST. THE SALES PRICE MAY BE LESS THAN OTHER SIMILAR PROPERTIES WHICH HAVE NO RESTRICTIONS. Developer's Initials (c) Transfer of a Restricted Unit. Developer and any successor Owner may transfer a Restricted Unit only in strict accordance with the provisions of this Agreement. Specifically, during the Affordability Period, Owner may transfer a Restricted Unit (i) only to an Eligible Person or Family and (ii) only if the Purchase Housing Cost does not exceed Affordable Housing Cost for the Eligible Person or Family; and (iii) only if the Transfer has previously been approved in writing by the Agency. In order to comply with this Subsection 4(c), Developer and any successor Owner must calculate the Affordable Housing Cost for the Proposed Transferee of the Restricted Unit in accordance with the definition set forth in Subsection 2(a) of this Section 401. After calculating the Affordable Housing Cost for the Proposed Transferee, the Owner must ensure that the sum of the Sales Price and all costs listed in the definition of Purchase Housing Cost set forth in Subsection 2 of Section 401 does not exceed that Affordable Housing Cost. The Calculation of the Sales Price under this Subsection 4(c) is illustrated by example in Attachment No. i attached hereto. (d) In the event that after a good faith effort as defined in the Buyer Promissory Note, the successor Owner is unable to obtain an Eligible Person or Family to transfer the Restricted Unit, then after the required notice to and approval by the Agency Executive Director the owner may sell the Restricted Unit to a noneligible party subject to the equity share provisions of the Buyer Promissory Note'and the Covenants, Conditions and Restrictions would be released. (e) Notwithstanding anything to the contrary in this Section 401, at close of the Developer Conveyance Escrow transferring the Restricted Unit from the Developer to the CAMy DocumentsMPDOMAHA Building Horizons.wpd 15 1 023 Proposed Transferee (the "Initial Owner"), the Initial Owner shall execute a Buyer's Promissory Note as approved by the Executive and Agency Counsel which Promissory Note shall be secured by a Second Deed of Trust. The Buyer's Promissory Note shall be non -interest bearing. The principal amount shall be equal to the amount of the Agency Assistance necessary for the Individual or Family to qualify for the Lender's loan and ensure the affordability requirements are met as approved by the Executive Director in accordance with the Agency's affordable housing program policies. The Note Amount shall be due and payable according to its terms including any applicable equity sharing provision. However, should the Initial Owner transfer the Restricted Unit to an Eligible Person, Family at Affordable Housing Cost, the Transferee shall assume the Developer Promissory Note (Attachment No. 3) and Agency shall extend the due date of the Note Amount until the next Transfer of the Restricted Unit. The foregoing provisions will apply to every successive Transfer during the Affordability Period. 5. Process rto Complete Transfer by Sale of Restricted Units. Upon the Transfer by sale of a Restricted Unit, the following procedures shall apply: (a) Notice to City: Owner shall send to the Agency in care of the La Quinta Housing Department (or its successor), at P.O. Box 1504, La Quinta,'Califomia 92253, the forms attached hereto as Attachment Nos. 9 and 10 fully completed and executed by the Owner and the Proposed Transferee (the "Notice of Intent to Transfer" and "Approval Request"). (b) Qualification of Proposed Transferee. No Transfer shall occur unless and until determination is made based on the Certificate in the form of Attachment No. 8 attached hereto ("Certificate") and attachments thereto, that the Proposed Transferee (i) intends to occupy the Restricted Unit as the Proposed Transferee's principal residence and (ii) is an Eligible Person or Family. Each Proposed Transferee shall submit a Certificate to the Developer certifying its intent with regard to the occupancy of the Restricted Unit and as to the truth and accuracy of all information supplied as to the Gross Income (calculated as set forth in 25 Cal. Code of Regs., Section 6914) of the Proposed Transferee ("Proposed Transferee's Certificate"). Developer or subsequent owner shall certify pursuant to Attachment No. 8 hereof the information provided on the Proposed Transferee's Certificate pursuant to direction on that Certificate. Developer or subsequent owner shall be entitled to rely on the information on the Proposed Transferee's Certificate and attachments thereto in making the determination required by this subsection 5(b) unless the Developer or subsequent owner has knowledge of, or a reasonable basis for belief as to the inaccuracy or falsehood of the Proposed Transferee's Certificate. (c) The Sales Price for the Restricted Unit shall not exceed the maximum price at which the Purchase Housing Cost to be paid by the Proposed Transferee would not exceed Affordable Housing Cost. The calculation of the Sales Price under this subsection is illustrated by example in Attachment No. 7 attached hereto. However, in determining Affordable Housing Cost, the family size of the Proposed Transferee shall be deemed to be persons in the case of a 1 bedroom, 3 persons for a 2 bedroom, 4 persons for a 3 bedroom, or 5 persons fora 4 bedroom Restricted Unit. If the actual family size of the Proposed Transferee is larger, then the actual family size shall be used. C:\My Documents\WPDOMAHA Building Horizonsmpd 16 024 (d) Certificates from Parties. With respect to each sale of a Restricted Unit, Developer or subsequent owner shall submit to the Agency, not later than four (4) weeks prior to close of escrow on the sale of a Restricted Unit, a certificate that (I) the Developer or subsequent owner has made the affirmative determinations required by Section 4(a) above and (ii) the Sales Price conforms with Section 4(b) above. The Developer or subsequent owner shall concurrently submit to the Agency the Proposed Transferee's Certificate and all attachments thereto and all other documents or material with regard to information required by Sections 4(a) and/or (b) above, whether or not relied on by the Developer. Further, the Developer or subsequent owner and Proposed Transferee each shall certify in writing, in a form acceptable to the Agency, that the Transfer shall be closed in accordance with, and only with, the terms of the sales contract and other documents submitted to and approved by the Agency and that all consideration delivered by the Proposed Transferee to Developer or subsequent owner has been fully disclosed to the Agency. The written certificate shall also include a provision that, in the event a Transfer is made in violation of the terms of this Agreement or false or misleading statements are made in any documents or certificate submitted to the Agency for its approval of the Transfer, the Agency shall have the right to file an action at law or in equity to seek termination and/or rescission of the sales contract and/or declare the sale void, notwithstanding the fact that the Transfer may have closed and become final as between Developer or subsequent owner and its Transferee. In the event Developer for the initial transfer or subsequent owner for each following transfer fails to comply with Sections 4(a) or 4(b) above, any costs, liabilities or obligations incurred by the Developer or subsequent owner and its Transferee for the return of any monies paid or received or for any costs and legal expenses, shall be borne Jointly and severally by the Developer and its transferee and such parties shall hold the City and Agency harmless and reimburse their expenses, legal fees and costs for any action and City and/or Agency take in enforcing the terms of this Section 401. (e) Execution of Promissory Note and Second Deed of Trust. Notwithstanding anything to the contrary in this Agreement, at close of Escrow of the sale of the Housing Unit from the Developer to the Buyer, the Buyer shall execute a Buyer Promissory Note which shall be secured by a Second Deed of Trust. Said Second Deed of Trust shall be subordinate to any mortgage(s) obtained by the Owner for the purpose of securing funds to be applied to the Sales Price of the Housing Unit. The Buyer Promissory Note shall be non -interest bearing. The principal amount of the Promissory Note shall be an amount equal to the amount actually given as cash plus an Agency Equity Share Amount which becomes applicable only in the event that the Buyer is unable after good faith efforts to find an Eligible Person or Family to transfer the home at Affordable Housing Cost. In the event that the Buyer has provided the Agency with evidence of their good faith efforts then Agency may approve the sale to a nonqualified buyer and release the covenants by receiving in addition to the cash amount originally provided the additional Agency Equity Amount as provided under the terms of the Buyer Promissory Note. So long as the Transferee purchasing the Housing Unit from the Owner is an Eligible Person or Family and the Sale of the Housing Unit is made at a price which is not in excess of Affordable Housing Cost, the Transferee shall assume .the obligations of the Owner under the Promissory Note and Second I?eed of Trust to repay the Agency Equity pursuant to the Promissory CAMy Documents\WPDOMAHA Building Horizons.wpd 17 025 Note by execution of an assumption agreement in the form set forth as Attachment No. 11 of this Agreement, together with other written documentation satisfactory to the Agency, and Agency shall extend the due date of the Agency Equity pursuant to the Note Amount until the next Transfer of the Housing Unit by said Transferee. At such next Transfer, the Agency will again extend the due date of the Agency Equity pursuant to the Note Amount if the Sale or Transfer complies with the requirements of this Section. So long as each Transferee from the Owner and each subsequent Owner: (1) is an Eligible Person or Family, (2) acquires the Housing Unit at an Affordable Housing Cost, and (3) assumes the obligations of the predecessor Owner as aforesaid; then the Agency agrees to extend the due date of the Agency Equity pursuant to the Note Amount and the transferring Owner shall not be required to pay the Agency Equity potion of the Note Amount upon transfer of the Housing Unit. The Agency Equity payment requirement is intended as a penalty against the Owner, to capture a portion of the equity in the Restricted Property for the benefit of the Agency/Holder, in the event that the Owner makes a sale of the Restricted Property to a Buyer that is not an Eligible Person or Family. This equity recapture requirement is intended to be a cumulative remedy, together with all other remedies available to the Agency/Holder to compensate for the removal of the affordable housing covenants of the Grant Deed and this Agreement on the Housing Unit, to compensate the Agency for the administrative costs of operating the housing program of the Agency and to provide funds to the Agency to further assist low and moderate income persons in the provision of housing. In the event the equity recapture provisions of the Promissory Note are found by a court or administrative agency of competent jurisdiction to be in contravention of law or administrative regulation, the Applicable Percentage shall be reduced to the maximum percentage allowable by applicable law or administrative regulation, or may be otherwise modified by judicial decree or order so as to comply with applicable law. (f) Written Consent of Agency Required Before Transfer. During the Affordability Period the Restricted Property or the Restricted Unit, as the case may be, and any interest therein, shall not be conveyed by any Transfer except with the express written consent of the Agency, which consent shall be given only if the Transfer is consistent with the Agency's goal of creating, preserving, maintaining and protecting housing in the City of La Quinta for Eligible Persons and Families and shall be in accordance with the provisions of this subsection 5. This provision shall not prohibit the encumbering of title for the sole purpose of securing financing of the purchase price of the Restricted Unit. (g) Delivery of Documents. Upon the close of the proposed Transfer, the Owner and Transferee, as applicable, shall provide the Agency with a certified copy of the recorded Assumption Agreement, a copy of the final sales contract, settlement statement, escrow instructions, all certificates required by this subsection 5 and any other documents which the Agency may request. 6. Covenants of Owner. The Owner of each Restricted Unit by acceptance of a deed to the Restricted Unit covenants and agrees that, at all times during the Affordability Period, its Restricted Unit will be continuously occupied by Owner as its principal residence, and shall not be rented, subleased, or subject to any other business arrangement, whereby consideration shall be paid by any occupant of a Restricted Unit to the Owner of the Restricted Unit; provided, if the CAMy Documents\WPDOMAHA Building Horizons.wpd 18 026 Restricted Unit is occupied by an Eligible Person or Family, the family members whose income was considered in determining the eligibility of that family may make monetary contributions toward the Purchase Housing Costs of the Restricted Unit. Owner agrees that it shall not record or cause the recordation of any deed of trust (a "Further Encumbrance") securing a note having an original principal sum which, when added to the sum of the principal amount(s) of any notes secured by any deeds of trust against the Restricted Property as of the date of recordation of the Further Encumbrance, exceeds the fair market value of the Restricted Property. B. [402] Uses In Accordance with Redevelopment Plan: Nondiscrimination . The Developer covenants and agrees for itself, its successors, its assigns, and every successor in interest to the Site or any part thereof that the Developer and such successors and assignees, shall devote the Site to the uses specified in the Redevelopment Plan, the Grant Deed (Attachment No. __), the Declaration of Conditions, Covenants and Restrictions (Attachment No. 5) and this Agreement for the periods of time specified therein. The foregoing covenants shall run with the land. The Developer covenants by and for itself and any successors in interest that there shall be no discrimination against or segregation of any person or group of persons on account of race, color, creed, religion, sex, marital status, national origin or ancestry in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the Site, nor shall the Developer itself or any person claiming under or though it establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or vendees of the Site. The foregoing covenants shall run with the land. The Developer'shall refrain from restricting the rental, sale or lease of the property on the basis of race, color, creed, religion, sex, marital status, national origin or ancestry of any person. All such deeds, leases or contracts shall contain or be subject to substantially the following nondiscrimination or nonsegregation clauses: 1. In deeds: "The grantee herein covenants by and for himself or herself, his or her heirs, executors, administrators and assigns, and all persons claiming under or through his or her heirs, executors, administrators and assigns, and all persons claiming under or through them, that there shall be no discrimination against or segregation of, any person or group of persons on account of race, color, creed, religion, sex, marital status, national origin or ancestry in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the land herein conveyed, nor shall the grantee himself or herself or any person claiming under or though him or her, establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or vendees in the land herein conveyed. The foregoing covenants shall run with the land." 2. In leases: "The lessee herein covenants by and for himself or herself, his or her heirs, executors, administrators and assigns, and all persons claiming under or through him or her, and this lease is made and accepted upon and subject to the following conditions: CAMy DocumentsMP130MAHA Building Horizons.wpd 19 027 "There shall be no discrimination against or segregation or any person or group of persons on account of race, color, creed, religion, sex, marital status, ancestry or national origin in the leasing, subleasing, transferring, use, occupancy, tenure or enjoyment of the premises herein leased nor shall the lessee himself or herself, or any person claiming under or through him or her, establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, sublessees, subtenants or vendees in the premises herein leased." 3. In contracts: "There shall be no discrimination against or segregation of, any person, or group of persons on account of race, color, creed, religion, sex, marital status, ancestry or national origin, in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the premises, nor shall the transferee himself or herself or any person claiming under or through him or her, establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or vendees of the premises." The covenants established in this Agreement and the deeds of conveyance for the Site shall, without regard to technical classification and designation, be binding for the benefit and in favor of the Agency, its successors and assigns, the City and any successor in interest to the Sites, together with any property acquired by the Developer pursuant to this Agreement, or any part thereof. The covenants against racial discrimination shall remain in effect in perpetuity. C. [403] Effect of Violation of the Terms and Provisions of this Agreement After Completion of Construction The Agency is deemed the beneficiary of the terms and provisions of this Agreement and of the covenants running with the land, for and in its own rights and for the purposes of protecting the interests of the community and other parties, public or private, in whose favor and for whose benefit this Agreement and the covenants running with the land have been provided. The Agreement and the covenants shall run in favor of the Agency, without regard to whether the Agency has been, remains or is an owner of any land or interest therein in the Site or in the Project Area. The Agency shall have the right, if this Agreement or covenants are breached, to exercise all rights and remedies, and to maintain any actions or suits at law or in equity or other property proceedings to enforce the curing of such breaches to which it or any other beneficiaries of this Agreement and covenants may be entitled. D. [404] Maintenance of the Site The Developer shall maintain the improvements on the Site in conformity with the La Quinta Municipal Code and the requirements of the Declaration of Conditions, Covenants and Restrictions (Attachment No. 5), and shall keep the Site free from any accumulation of debris or waste materials. The Developer shall also maintain the landscaping required to be planted under the Scope of Development (Attachment No. 1) in a healthy and attractive condition. If, at any time, Developer fails to maintain the Site or any portion thereof, and said condition is not corrected as C:\My Documents\WPDOCS\AHA Building Horizonsmpd 20 - , 028 soon as reasonably possible after written notice from the Agency, either the Agency or the City may perform the necessary maintenance and Developer shall pay such costs as are reasonably incurred for such maintenance. Upon the close of each Developer Conveyance, the Developer's obligations under this Section 404 with respect to such Site shall be assumed by the Transferee of such Site. This covenant shall run with the land and shall remain in effect for the term of the Redevelopment Plan. V. [500] DEFAULTS AND REMEDIES A. [501 ] Defaults -- General Subject to the extensions of time set forth in Section 603, failure or delay by either party to perform any term or provision of this Agreement constitutes a default under this Agreement. A party claiming a default shall give written notice of default to the other party, specifying the default complained of and the actions required to correct such default. Except as otherwise expressly provided in Sections 508 and 509 of this Agreement, the claimant shall not institute proceedings against the other party if the other party within thirty (30) days from receipt of such notice immediately, with due diligence, commences to cure, correct or remedy such failure or delay and shall complete such cure, correction or remedy as soon as reasonably practicable after receipt of such notice. B. [502] Legal Actions [503] Institution oftegal Actions In addition to any other rights or remedies and subject to the restrictions in Section 501, either party may institute legal action to seek specific performance of the terms of this Agreement, or to cure, correct or remedy any default, to recover damages for any default, or to obtain any other legal or equitable remedy consistent with the purpose of this Agreement. Such legal actions must be instituted in the Superior Court of the County of Riverside, State of California, in an appropriate municipal court in that county, or in the Federal District Court in the Central District of California. 2. [504] Applicable Law The laws of the State of California shall govern the interpretation and enforcement of this Agreement. 3. [505] Acceptance of Service of Process In the event that any legal action is commenced by the Developer against the Agency, service of process on the Agency shall be made by person service upon the Executive Director or in such other manner as may be provided by law. - � 023, C:\My Documents\WPDOMAHA Building Horizons.wpd 21 In the event that any legal action is commenced by the Agency against the Developer, service of process on the Developer shall be made by personal service upon any officer or director of the Developer and shall be valid whether made within or without the State of California or in such other manner as may be provided by law. C. [506] Rights and Remedies Are Cumulative Except as otherwise expressly stated in this Agreement, the rights and remedies of the parties are cumulative, and the exercise by either party of one or more of such rights or remedies shall not preclude the exercise by it, at the same or different times, of any other rights or remedies for the same default or any other default by the other party. D. [507] Inaction Not a Waiver of Default Any failures or delays 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, or deprive either such party of its right to institute and maintain any actions or proceedings which it may deem necessary to protect, assert or enforce any such rights or remedies. E. [508] Remedies and Rights of Termination 1. [509] Damages If either party defaults with regard to any of the provisions of this Agreement, the non -defaulting parry shall serve written notice of such default upon the defaulting parry. If the default is not cured or commenced to be cured by the defaulting parry within forty-five (45) days after service of the notice of default (or within such other period as is set forth herein), the defaulting party shall be liable to the other party for any damages caused by such default. 2. [510] Specific Performance If either party defaults under any of the provisions of this Agreement, the non - defaulting party shall serve written notice of such default upon the defaulting party. If the default is not cured and/or commenced to be cured by the defaulting party within forty-five (45) days of service of the notice of default, or such other time limit as may be set forth herein with respect to such default, the non -defaulting party as its option may thereafter (but not before) commence an action for specific performance of terms of this Agreement. 3. [511 ] Right of Termination by the Developer In the event that the Agency does not fund the portion of the Developer Promissory Note for the acquisition costs in the manner and condition, and. by the date established in this Agreement and the Schedule of Performance (Attachment No. 2), and any such failure shall not be cured within thirty (30) days after written demand by the Developer then, at the option of the Developer, upon written notice thereof to the Agency, all provisions of this Agreement shall terminate and be of no further force and effect; thereafter, neither the Agency nor the Developer shall 030 C:\My DocumentsMIRDOMAHA Building Horizons.wpd 22 have any further rights against or liability to the other with respect to this Agreement. Notwithstanding the above, developer would be entitled to the return of any Acquisition Deposit for a site not transferred pursuant to Section 202 herein. Note: 4. [512] Termination by the Agency In the event that prior to the Agency funding of the Developer Promissory (a) The Developer (or any successor in interest) assigns or attempts to assign the Agreement or any rights therein or in the Site(s) in violation of this Agreement; or (b) There is a charge in the ownership of the Developer contrary to the provisions of Section 107(a) hereof; or (c) The Developer does not submit certificates of insurance, construction plans, drawings and related documents as required by this Agreement, in the manner and by the dates respectively provided in this Agreement therefor, and such default or failure shall not be cured or commenced to be cured within forty-five (45) days after the date of written demand therefor by the Agency; or (d) The Developer fails to satisfy the Conditions Precedent to the Conveyance by the time established therefor in the Schedule of Performance (Attachment No. 2); or (e) The Developer is otherwise in default under this Agreement and such failure is not cured or commenced to be cured within thirty (30) days of demand therefor by the Agency; then, at the option of the Agency, upon such written notice thereof to the Developer as may be set forth above, this Agreement shall be terminated, and thereafter neither party shall have any further rights or liability against the other under this Agreement. F. [513] Remedies of the Parties for Default After Closing of the Acquisition Escrow 1. [514] Termination and Damages After the Close of the Acquisition Escrow, if the Developer or the Agency defaults with regard to any of the provisions of this Agreement, the nondefaulting party shall serve written notice of such default upon the defaulting party. If the default is not cured or commenced to be cured (and diligent efforts toward curing the default) by the defaulting party within thirty (30) days after service of the notice of default, the defaulting party shall be liable to the other party for any damages caused by such default. 031 CAMy DocumentsMI'DOMAHA Building Horizons.wpd 23 VI. [600] GENERAL PROVISIONS A [601 ] Notices. Demands and Communications Between Parties Written notices, demands and communications between the Agency and the Developer shall be sufficiently given if delivered by hand or dispatched by registered or certified mail, postage prepaid, return receipt requested, to the principal offices of the Agency and the Developer at the addresses specified in Section 105 and 106, respectively. Such written notices, demands and communications may be sent in the same manner to such other addresses as either party may from time to time designate by mail as provided i this Section 601. Any written notice, demand or communication shall be deemed received immediately if delivered by hand and shall be deemed received on the tenth (1Oth) day from the date it is postmarked if delivered by registered or certified mail. B. [602] Conflicts of Interest No member, official or employee of the Agency shall have any personal interest, direct or indirect, in this Agreement, nor shall any member, official or employee participate in any decision relating to the Agreement which affects his personal interests or the interests of any corporation, partnership or association in which he is directly or indirectly interested. No member, official or employee of the Agency shall be personally liable to the Developer, or any successor in interest, in the event of any default or breach by the Agency, or for any amount which may become due to the Developer or successor or on any obligations under the terms of this Agreement. C. [603] Enforced Delay; Extension of Times of Performance In addition to specific provisions of this Agreement, performance by either party hereunder shall not be deemed to be in default, and al performance and other date specified in this Agreement shall be extended, where delays or defaults are due to: war; insurrection; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; unusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor; subcontractor or supplier; acts or omissions of the other party; acts or failures to act of the City of La Quinta or any other public or governmental agency or entity (other than the acts or failures to act of the Agency which shall not excuse performance by the Agency); or any other causes beyond the control or without the default of the party claiming an extension of time to perform. Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of Agency and Developer. Notwithstanding the foregoing portion of this Section 603, the Developer is not entitled pursuant to this Section 603 to an extension of time to perform because of past, present, or - - 0 3,^ C:\My DocumentsMI'DOMAHA Building Horizons.wpd 24 future difficulty in obtaining suitable construction financing for the development of the Site or because of the physical condition or suitability of the Site for the purposes of this Agreement. D. [604] Non -Liability of Officials and Employees of the Agency and the Developer No member, official or employee of the Agency or the City shall be personally liable to the Developer, or any successor in interest, in the event of any default or breach by the Agency or the City or for any amount which may become due to the Developer or its successors, or on any obligations under the terms of this Agreement. No officer, director or employee of the Developer shall be personally liable to the Agency or the City, or any successor in interest, in the event or breach by the Developer. E. [605] Entire Agreement, Waivers This Agreement is executed in three (3) duplicate originals, each of which is deemed to be an original. This Agreement includes pages 1 through 27 and Attachment Nos. 1 through 11, which constitutes the entire understanding and agreement of the parties. Each of the foregoing Attachments are incorporated herein by reference. This Agreement integrates all of the terms and conditions mentioned herein or incidental hereto, and supersedes all negotiations or previous agreements between the parties or their predecessors in interest with respect to all or any part of the subject matter hereof. All waivers of the provisions of this Agreement must be in writing by the appropriate authorities of the Agency and the Developer, and all amendments hereto must be in writing by the appropriate authorities of the Agency and the Developer. In any circumstance where under this Agreement either party is required to approve or disapprove any matter, approval shall not be unreasonably withheld. VII. [700] TIME FOR ACCEPTANCE OF AGREEMENT BY AGENCY IN WITNESS WHEREOF, the Agency and the Developer have signed this Agreement on the respective dates set forth below. LA QUINTA REDEVELOPMENT AGENCY, a public body corporate and politic Dated: TERRY HENDERSON, Chairman ATTEST: JUNE S. GREEK, Secretary - , 033 CAMy DocumentsMPDOMAHA Building Horizonsmpd 25 APPROVED AS TO FORM: DAWN C. HONEYWELL, Agency Counsel BUILDING HORIZONS, a California nonprofit public benefit corporation Dated: - 7-s .20oo By: Its: qxn.C-(/T7v� pl'Ci`-cag- -1 034 C:\My Documents\WPDOMAHA Building Horizons.wpd 26 ATTACHMENT NO. 1 SCOPE OF DEVELOPMENT I. DEVELOPMENT Development shall cause the construction and installation of a single family home on each lot of the Site. The homes shall be approximately 1,400 square feet in size. The homes shall be developed in accordance with four bedroom floor plans and site elevations which have been or which shall have been approved by the City and the Agency. Unit amenities include front landscaped/irrigated yards; interior laundries with sink and cabinets; kitchens that feature tile countertops, dishwashers, built-in ranges, oak cabinetry, and nooks/pantries; tile roofs; and concrete block perimeter fencing. The Developer shall complete all of the improvements set forth in this Scope of Development (Attachment No. 1) to be constructed on each lot. All of the improvements to be described in part IV of this Scope of Development, constitute the "Improvements." The developer shall commence and complete the Improvements by the respective times established therefor in the Schedule of Performance (Attachment No. 2). II. DEVELOPMENT STANDARDS The following development standards shall apply to the Developer Improvements: A. Building Setbacks. Minimum building setbacks for building and parking areas shall be as required by the Redevelopment Plan and approved by the Agency, and shall conform to the La Quinta City Code (the "City Code"). B. Building �Coverage. The amount of land within the Site covered by buildings shall be as required by the Redevelopment Plan and local zoning. C. Building Height. Buildings shall not exceed the height as may be limited by the Redevelopment Plan' and local zoning. D. Landscaping. The Developer shall provide and, pending the sale of the Site, maintain landscaping on the Site. Landscaping shall be subject to approval by the City's Planning Department prior to planting. E. Utilities. Sewer drainage and utility lines, conduits or systems shall not be constructed or maintained above the ground level of the Site. Storm drainage for all hard surfaced areas shall be drained or may be sheet flowed to storm sewers. All non -polluted waste water, such as waste air conditioning water, shall be drained to the storm or sanitary drainage systems as permitted by local codes. 035 C:\My Documents\WPDOMAHA Building Horizonsmpd F. Building Materials. All exterior walls shall be painted or covered by the Developer with color(s) and materials subject to approval by the City's Community Development Department. In satisfaction of this requirement, the Developer shall submit a color and materials board for approval by the Agency. ' G. Building Design. Buildings shall be constructed such that the Developer Improvements shall conform to the City Code, and shall be effectively and aesthetically designed. III. PUBLIC IMPROVEMENTS AND UTILITIES The Developer, at its own cost and expense, with the exception of the Agency Assistance as provided in Section 201 of the Agreement, shall provide or cause to be provided the public improvements as required by the City pursuant to the usual City building permit requirements for off -site improvements to residential development within the time set forth for the completion of the Developer Improvements in the Schedule of Performance (Attachment No. 4). Those of the improvements required to be provided pursuant to this part III of this Scope of Development (Attachment No. 1) constitute the "Off -Site Improvements." IV. DEMOLITION AND SOILS In accordance with Section 211 of the Agreement, the Developer shall at its cost take all actions necessary to render the Site entirely suitable for such development, including any demolition and soils work. V. AMENDMENTS Any material change, as reasonably determined by the Agency, in the Scope of Development (Attachment No. 1) or in the approved site plan which affects the size, quality, or type of development proposed for one or more of the Site shall require the written approval of the Agency, which approval may be contingent upon the review and renegotiation of all of the economic and financial terms of this Agreement and such other matters as the Agency shall deem appropriate. It shall be up to the discretion of the Agency Executive Director whether a proposed material change to this Scope of Development requires approval by the Agency Board or whether such change may be approved in writing by the Agency Executive Director. -- 036 CAMy Documents\WPDOMAHA Building Horizonsmpd 2 ATTACHMENT NO.2 SCHEDULE OF PERFORMANCE I. GENERAL PROVISIONS 1, Execution of Agreement by Agency. The Agency shall approve and execute this Agreement, and shall deliver one (1) copy thereof to the Developer. II. CONSTRUCTION DOCUMENTS AND BUILDING PERMITS 2. Submittal of Site Plan. Developer shall prepare and submit to the Agency the Site Plan for the two units. Submission of Complete Construction Drawings and Landscuing Plan. Developer shall submit to the Agency complete Construction (working) Drawings for the two units. 4. Obtaining of Building Permits. Developer shall satisfy all requirements necessary to obtain al building and other permits needed to commence construction of the Improvements for each unit. III. ACQUISITION OF SITE 5. Conditions Precedent. All Conditions Precedent to funding the acquisition are satisfied. 6. Acquisition of Site. The acquiring of the Site is effected. Not later than thirty (30) days after the date of execution and submission of three (3) copies of this Agreement by the Developer. Within thirty (30) days after the execution of this Agreement by the Agency. Not later than thirty (30) days after Agency approval of Site Plan. Not later than thirty (30) days after Agency approval of Complete Construction (working) Drawings and Landscaping Plan. Not later than sixty (60) days after execution of this Agreement by the Agency. As soon as reasonably possible after satisfactory fulfillment of the Conditions Precedent to the Agency Assistance and funding of the Developer loan. CAMy Documents\WPDOMAHA Building Horizonsmpd - - 037 IV. CONSTRUCTION PHASE 7. Commencement of Construction. Developer shall commence. construction of the Improvements for each Site. 8. Completion of Construction. Developer shall complete construction of all of the Improvements for each lot. V. TRANSFER STAGE 9. Sales of Residences. Each Residence shall be sold to an Eligible Person or Family. 10. Partial Certificates of Completion. Certificates of Completion for each lot shall be recorded simultaneous with the transfer to an Eligible Person or Family. Not later than thirty (30) days after Developer acquisition of each lot. Within two hundred seventy (270) days after the commencement of construction for each lot. Within six (6) months from issuance of certificate of occupancy. Minor revisions to this Schedule of Performance may be approved in writing by the Agency Executive Director. CAMy DocumentsMPDOMAHA Building Horizons.wpd 2 ATTACHMENT NO. 3 DEVELOPER PROMISSORY NOTE $105,000 La Quinta, California FOR VALUE RECEIVED, BUILDING HORIZONS, INC., collectively, "Maker" promise to pay to LA QUINTA REDEVELOPMENT AGENCY, a public body corporate and politic ("Holder") at La Quinta, California, or at such other address as Holder may direct from time to time in writing, the sum of $105,000 (the "Note Amount"), together with interest thereon at the rate set forth herein. All sums payable hereunder shall be payable in lawful money of the United States of America. This Developer Promissory Note ("Note") is made in connection with the provision by the Holder of funds equal to the approved Acquisition Costs and Construction Costs pursuant to that certain Affordable Housing Agreement by and among Maker and the Holder, dated as of , 2000 (the "Agreement"). 1. Disbursements. The Note Amount shall be disbursed pursuant to Sections 201 and 205 of the Agreement. The record of such disbursements shall be'recorded from time to time by the Agency Executive Director or his designee on Exhibit A to this Developer Promissory Note. 2. Obligation to Pay. The Note Amount shall be due and payable in full upon the Developer conveyance of the property. 3. Prepayment of Note Amount. Maker may prepay to Holder the full Note Amount at any time prior to the due date of the Note Amount without penalty. 4. Securi1y. This Note is secured by a Developer Deed of Trust by and between Maker, as trustor, and Holder, as beneficiary (the "Developer Deed of Trust"). 5. Holder May Assign., Holder may, at its option, assign its right to receive payment under this Note without necessity of obtaining the consent of the Maker. 6. Makers Assignment Prohibited. In no event shall Maker assign or transfer any portion of this Note without the prior express written consent of the Holder, which consent may be given or withheld in the Holder's sole discretion. 7. Attorneys' Fees and Costs. In the event that any action is instituted with respect to this Note, the prevailing party promises to pay such sums as a court may fix for court costs and reasonable attorneys' fees. Holder's right to such fees shall not be limited to or by its representation by staff counsel and such representation shall be valued at customary and reasonable rates for private sector legal services. 8. Time of the Essence. Time is of the essence of the performance of all obligations under this Promissory Note. - � 039 CAMy Documents\WPDOMAHA Building Horizons.wpd 9. Non -Waiver. Failure or delay in giving any notice required hereunder shall not constitute a waiver of any default or late payment, nor shall it change the time for any default or payment. 10. Successors Bound. This Note shall be binding upon the parties hereto and their respective heirs, successors and assigns. Dated: Dated: ATTEST: JUNE S. GREEK, Agency Secretary BUILDING HORIZONS, a California nonprofit public benefit corporation Its: LA QUINTA REDEVELOPMENT AGENCY, a public body corporate and politic By: THOMAS P. GENOVESE, Executive Director "HOLDER" CAMy Documents\WPDOMAHA Building Horizonsmpd 2 - 040 EXHIBIT "A" TO ATTACHMENT NO. 6 DISBURSEMENT RECORD Disbursement Amount Date Acknowledgment of Receipt of Maker 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. -- 043 CAMy Documents\WPDOMAHA Building Horizonsmpd 3 ATTACHMENT NO.4 CONSTRUCTION DEED OF TRUST [To be approved by Agency Counsel and Executive Director for recording prior to funding under the Developer Promissory Note] CAMy Documents\WPDOMAHA Building Horizons.wpd ATTACHMENT NO. 5 RECORDING REQUESTED BY ) AND WHEN RECORDED MAIL TO: ) LA QUINTA REDEVELOPMENT AGENCY ) 78-495 Calle Tampico ) La Quinta, California 92253 ) Space above for recorder. This Agreement is recorded at the request and for the benefit of the Agency and is exempt from the payment of a recording fee pursuant to Government Code Section 6103. LA QUINTA REDEVELOPMENT AGENCY By: Its: Dated: 2000 DECLARATION OF CONDITIONS, COVENANTS AND RESTRICTIONS THIS DECLARATION OF CONDITIONS, COVENANTS AND RESTRICTIONS is made this day of , 2000, by BUILDING HORIZONS, a California nonprofit public benefit corporation, as declarant (the "Developer"), with reference to the following: A.- The Developer is fee owner of record of that certain real property located in the City of La Quinta, County of Riverside, State of California legally described in the attached Exhibit "A" (the "Property"),which is comprised of parcels ("Parcels"). The Property comprises the Site which is the subject of an agreement, further described herein, for the development, operation and maintenance of the Property for moderate -income housing. The Property is to be used for the development of single-family housing units and subsequent occupancy as a primary residence by households meeting certain income qualifications, all in conformity with this Declaration and an Affordable Housing Agreement between the Developer and the Agency dated as of , a copy of which is on file with the Agency as a public record (the "Agreement"). B. The Property is within the Redevelopment Project (the "Project") in the City of La Quinta and is subject to the provisions of the Redevelopment Plan for the Project adopted by Ordinance No. 43 on November 29, 1995, and amended by Ordinance No. on , 199_ by the City Council of the City of La Quinta. +043 CAMy Documents\WPDOMAHA Building Horizons.wpd 2 C. The La Quinta Redevelopment Agency ("Agency") and the Developer have entered into an Affordable Housing Agreement dated as of , 2000 concerning the development and use of the Property (the "Agreement") which Agreement is on file with the Agency as a public record and is incorporated herein by reference and which Agreement provides for the execution and recordation of this document. D. Developer deems it desirable to impose a general plan for the use and maintenance of the Property, and to adopt and establish covenants, conditions and restrictions upon the Property for the purpose of enforcing and protecting the value, desirability and attractiveness thereof. E. Developer will convey title to all portions of said Property (including each Parcel) subject to certain protective covenants, conditions, and restrictions hereinafter set forth. NOW, THEREFORE, Declarant hereby covenants, agrees and declares that all of the Property shall be held, sold, conveyed, hypothecated, encumbered, used, occupied and improved, subject to the following covenants, conditions, restrictions and easements which are hereby declared to be for the benefit of the whole Property. These covenants, conditions, restrictions and easement shall run with the Property and shall be binding on all parties having or acquiring any right, title or interest in the Property or any part thereof (including each Parcel) and shall inure to the benefit of each owner thereof and their successors and assigns, and are imposed upon the Property and every part thereof (including each Parcel) as a servitude in favor of each and every Parcel as the dominant tenement or tenements. NOW, THEREFORE, THE DEVELOPER AGREES AND COVENANTS AS FOLLOWS: A. Low or Moderate Income Restrictions 1. Number of Units. Developer shall develop two (2) detached, single-family homes (the "Restricted Units") within the Project Area and shall develop all on -site and off -site public improvements connected therewith, all as described and set forth in the Scope of Development (Attachment No. 1). Developer shall restrict each of the units for sale to a Low or Moderate Income Household pursuant to the applicable income and affordability provisions contained herein. The Developer further covenants and agrees that the above -referenced occupancy, ownership and affordability requirements shall bind and be enforceable against the Site for the period of thirty (30) years commencing with the acquisition of each respective parcel by the Developer with the simultaneous recording of this document. 2. Definitions. (a) "Affordable Housing Cost" shall be that purchase price which would result in maximum monthly housing payments for a thirty (30) year mortgage for that portion of the purchase price which is to be paid in the form of loan proceeds under currently prevailing mortgage loan rates or the interest rate of any below -market mortgage program for which such purchaser has obtained a first trust deed loan, for the low or moderate income group calculated pursuant to Health and Safety Code Section 50052.5, which sets forth the following formula: 044 CAMy DocumentsMPDOMAHA Building Horizonsmpd 3 Lower Income Households - whose gross incomes exceed the maximum income for very low income households and do not exceed seventy percent (70%) of the area median income adjusted for family size, the product of thirty percent (30%) times seventy percent (70%) of the area median income adjusted for family size appropriate for the unit. In addition, for any lower income household that has a gross income that equals or exceeds seventy percent (70%) of the area median income adjusted for family size, it shall be optional for any state or local funding agency to require that affordable housing cost not exceed thirty percent (30%) of the gross income of the household. . Moderate Income Households - not less than twenty-eight percent (28%) of the gross income of the household, nor more than the product of thirty -five percent (35%) times the greater of one hundred ten percent (110%) of area median income adjusted for family size appropriate for the Affordable Unit, or the gross income of the household for households earning greater than one hundred percent (110%) and not more than one hundred twenty percent (120%) of the area median income adjusted for family size. (b) "Affordability Period" shall be thirty (30) years from the date of transfer to an Eligible Person or Family. (c) "Eligible Person or Family" shall mean any person or family who meets the income qualifications for Moderate Income Households. (d) "Lower Income Household" shall mean a household earning not greater than eighty percent (80%) of Riverside County median income, as determined by the United States Department of Housing and Urban Development from time to time, as set forth in Health and Safety Code Section 50093. (e) "Moderate Income Household" shall mean a household earning not greater than one hundred twenty percent (120%) of Riverside County median income, as determined by the United States Department of Housing and Urban Development from time to time, as set forth in Health and Safety Code Section 50093. (f) "Owner" shall mean Developer and any successor in interest of Developer to any lot of the Site except where a provision of this Agreement expressly excludes Developer from the definition of owner. (g) "Proposed Transferee" shall mean a person or family determined to be an Eligible Person or Family to whom the Developer or any successor Owner desires and proposes to Transfer a Restricted Unit. (h) '!Purchase Housing Cost" or an Eligible Person or Family purchasing a Restricted Unit shall include all of the following associated with that Restricted Unit, estimated or known s of the date of their proposed sale of the Restricted Unit: (I) Principal and interest on a mortgage loan including any rehabilitation loans, and any loan insurance fees associated therewith. (ii) Property taxes and assessments. - 045 C:\My Documents\WPDOMAHA Building Horizons.wpd 4 property improvements. (iii) Fire and Casualty insurance covering replacement value of (iv) Any homeowner association fees. Monthly housing cost of a purchaser shall be an average of estimated costs for the next twelve (12) months (I) "Restricted Unit" shallmean a dwelling unit, which shall be a single- family residence, subject to the restrictions of this Agreement (including, without limitation, this document). ' 0) "Sales Price" shall mean all sums paid by a purchaser to a seller for, or in conjunction with, the acquisition of a Restricted Unit, including the purchase price designated in any purchase agreement, consideration for personal property and all other costs and fees paid by the purchaser to or for the benefit of the seller. (k) "Transfer" shall mean any sale, assignment,. conveyance, lease or transfer, voluntary or involuntary, of any interest in a Restricted Unit. Without limiting the generality of the foregoing, Transfer shall include (I) a transfer by devise, inheritance or intestacy to a party who does not meet the definition of Eligible Person or Family; (ii) a life estate; (iii) creation of a joint tenancy interest; (iv) a gift of all or any portion of a Restricted Unit; or (v) any voluntary conveyance of a Restricted Unit. Transfer shall not include transfer to a spouse in a dissolution proceeding; however any subsequent Transfer shall be subject to this restriction. (1) "Transferee" shall mean any natural person or entity who obtains ownership or possessory rights in a Restricted Unit pursuant to a Transfer. 3. Sales of Restricted Units. Developer agrees that Developer shall sell each Restricted Unit to an Eligible' Person or Family at an Affordable Housing Cost (the "Developer Conveyance") and that during the Affordability Period each subsequent resale of a Restricted Unit by the then -Owner thereof shall be to an Eligible Person or Family at an Affordable Housing Cost. Developer agrees that these Conditions, Covenants and Restrictions giving effect to the foregoing restriction shall be recorded against each lot of the Site concurrently with the Acquisition Escrow. Developer agrees to commence to market each Restricted Unit not later than the completion of construction of each Restricted Unit; each Restricted Unit shall be sold to an Eligible Person or Family prior to issuance of a Certificate of Completion as to any such Restricted Unit for purposes of Section 322 of the Agreement. For purposes of satisfying the requirement that all of the Restricted Units shall be occupied by Eligible Persons or Families: (a) an individual or family who qualifies as an Eligible Person or Family at the time he or she first takes title to a Restricted Unit will be deemed an Eligible Person or Family as long as he or she continues to hold title to such Restricted Unit even though the Eligible Person or Family subsequently ceases to meet the income or other requirements of an Eligible Person or Family subsequently ceases to meet the income or other requirements of an Eligible Person or Family, and (b) when an Owner releases title to a Restricted Unit, such unit will 046 CAMy DocumentsMPDOMAHA Building Horizons.wpd 5 be considered as occupied by an Eligible Person or Family if it is held vacant and available for such occupancy until title is transferred to another Eligible Person or Family, at which time the status of the new Owner as an Eligible Person or Family is to be determined. 4. Restrictions on Transfer by Sale of the Restricted Propea or Any Restricted Unit. (a) For the duration of the Affordability Period, Developer, for itself and any subsequent Owner, hereby subjects the Site to certain restrictions and limits the price at which Developer or any other Owner may sell and/or resell the Site and the persons to whom Developer or any other Owner may sell the Site. (b) DEVELOPER AND ANY OTHER OWNER UNDERSTANDS THAT THE DETERMINATION OF THE SALES PRICE CAN BE MADE ONLY AT THE TIME OF THE PROPOSED TRANSFER, TAKING INTO CONSIDERATION INTEREST RATES, PROPERTY TAXES AND OTHER FACTORS THAT CANNOT BE ACCURATELY PREDICTED AND THAT THE SALE PRICE PERMITTED HEREUNDER MAY NOT INCREASE OR DECREASE IN THE SAME MANNER AS OTHER SIMILAR REAL PROPERTY WHICH IS NOT ENCUMBERED BY THIS RESTRICTION. DEVELOPER AND ANY OTHER OWNER FURTHER ACKNOWLEDGE THAT, AT ALL TIMES IN SETTING THE SALES PRICE, THE PRIMARY OBJECTIVE OF THE AGENCY AND THIS AGREEMENT IS TO PROVIDE HOUSING TO ELIGIBLE PERSONS OR FAMILIES AT AFFORDABLE HOUSING COST. THE SALES PRICE MAY BE LESS THAN OTHER SIMILAR PROPERTIES WHICH HAVE NO RESTRICTIONS. Developer's Initials (c) Transfer of a Restricted Unit. Developer and any successor Owner may transfer a Restricted Unit only in strict accordance with the provisions of this Agreement. Specifically, during the Affordability Period, Owner may transfer a Restricted Unit (I) only to an Eligible Person or Family and (ii) only if the Purchase Housing Cost does not exceed Affordable Housing Cost for the Eligible Person or Family; and (iii) only if the Transfer has previously been approved in writing by the Agency. In order to comply with this Subsection 4(c), Developer and any successor Owner must calculate the Affordable Housing Cost for the Proposed Transferee of the Restricted Unit in accordance with the definition set forth in Subsection 2(a) of this Section After calculating the Affordable Housing Cost for the Proposed Transferee, the Owner must ensure that the sum of the Sales Price and all costs listed in the definition of Purchase Housing Cost set forth in Subsection 2 of Section 401.does not exceed that Affordable Housing Cost. The Calculation of the Sales Price under this Subsection 4(c) is illustrated by example in Attachment No. _.of the Agreement. CAMy DocumentsMPDOMAHA Building Horizons.wpd 6 4 1 (d) In the event that after a good faith effort as defined in the Buyer Promissory Note, the successor Owner is unable to obtain an Eligible Person or Family to transfer the Restricted Unit, then after the required notice to and approval by the Agency Executive Director the owner may sell the Restricted Unit to a noneligible party subject to the equity share provisions of the Buyer Promissory Note and the Covenants, Conditions and Restrictions would be released. (e) Notwithstanding anything to the contrary in this Section , at close of the Developer Conveyance Escrow transferring the Restricted Unit from the Developer to the Proposed Transferee (the "Initial Owner"), the Initial Owner shall execute a Buyer's Promissory Note as approved by the Executive and Agency Counsel which Promissory Note shall be secured by a Second Deed of Trust. The Buyer's Promissory Note shall be non -interest bearing. The principal amount shall be equal to the amount of the Agency Assistance necessary for the Individual or Family to qualify for the Lender's loan.and ensure the affordability requirements are met as approved by the Executive Director in accordance with the Agency's affordable housing program policies. The Note Amount shall be due and payable according to its terms including any applicable equity sharing provision. However, should the Initial Owner transfer the Restricted Unit to an Eligible Person, Family at Affordable Housing Cost, the Transferee shall assume the Promissory Note (Attachment No. 8 to the Agreement) and Agency shall extend the due date of the Note Amount until the next Transfer of the Restricted Unit. The foregoing provisions will apply to every successive Transfer during the Affordability Period. 5. Process to Complete Transfer by Sale of Restricted Units. Upon the Transfer by sale of a Restricted Unit, the following procedures shall apply: (a) Notice to City: Owner shall send to the Agency in care of the La Quinta Housing Department (or its successor), at P.O. Box 1504, La Quinta, California 92253, the form attached hereto as Attachment No. — fully completed and executed by the Owner and the Proposed Transferee (the "Approval Request"). (b) Qualification of Proposed Transferee. No Transfer shall occur unless and until determination is made based o the Certificate in the form of Attachment No. _ attached hereto ("Certificate") and attachments thereto, that the Proposed Transferee (I) intends to occupy the Restricted Unit as the Proposed Transferee's principal residence and (ii) is an Eligible Person or Family. Each Proposed Transferee shall submit a Certificate to the Developer certifying its intent with regard to the occupancy of the Restricted Unit and as to the truth and accuracy of all information supplied as to the Gross Income (calculated as set forth in 25 Cal. Code of Regs., Section 6914) of the Proposed Transferee ("Proposed Transferee's Certificate"). Developer or subsequent owner shall certify pursuant to Attachment No. 13 hereof the information provided on the Proposed Transferee's Certificate pursuant to direction on that Certificate. Developer or subsequent owner shall be entitled to rely on the information on the Proposed Transferee's Certificate and attachments thereto in making the determination required by this subsection 5(b) unless the Developer or subsequent owner has knowledge of, or a reasonable basis for belief as to the inaccuracy or falsehood of the Proposed Transferee's Certificate. CAMy DocumentsMPDOCs\AHA Building Horizons.wpd 7 (c) The Sales Price for the Restricted Unit shall not exceed the maximum price at which the Purchase Housing Cost to be paid by the Proposed Transferee would not exceed Affordable Housing Cost. The calculation of the Sales Price under this subsection is illustrated by example in Attachment No. 13 attached hereto. However, in determining Affordable Housing Cost, the family size of the Proposed'Transferee shall be deemed to be persons in the case of a 1 bedroom, 3 persons for a 2 bedroom, 4 persons for a 3 bedroom, or 5 persons for a 4 bedroom Restricted Unit. If the actual family size of the Proposed Transferee is larger, then the actual family size shall be used. (d) Certificates from Parties. With respect to each sale of a Restricted Unit, Developer or subsequent owner shall submit to the Agency, not later than four (4) weeks prior to close of escrow on the sale of a Restricted Unit, a certificate that (I) the Developer or subsequent owner has made the affirmative determinations required by Section 4(a) above and (ii) the Sales Price conforms with Section 4(b) above. The Developer or subsequent owner shall concurrently submit to the Agency the Proposed Transferee's Certificate and all attachments thereto and all other documents or material with regard to information required by Sections 4(a) and/or (b) above, whether or not relied on by the Developer. Further, the Developer or subsequent owner and Proposed Transferee each shall certify in writing, in a form acceptable to the Agency, that the Transfer shall be closed in accordance with, and only with, the terms of the sales contract and other documents submitted to and approved by the Agency and that all consideration delivered by the Proposed Transferee to Developer or subsequent owner has been fully disclosed to the Agency. The written certificate shall also include a provision that, in the event a Transfer is made in violation of the terms of this Agreement or false or misleading statements are made in any documents or certificate submitted to the Agency for its approval of the Transfer, the Agency shall have the right to file an action at law or in equity to seek termination and/or rescission of the sales contract and/or declare the sale void, notwithstanding the fact that the Transfer may have closed and become final as between Developer or subsequent owner and its Transferee. In the event Developer for the initial transfer or subsequent owner for each following transfer fails to comply with Sections 4(a) or 4(b) above, any costs, liabilities or obligations incurred by the Developer or subsequent owner and its Transferee for the return of any monies paid or received or for any costs and legal expenses, shall be borne Jointly and severally by the Developer and its transferee and such parties shall hold the City and Agency harmless and reimburse their expenses, legal fees and costs for any action and City and/or Agency take in enforcing the terms of this Section (e) Execution of Promissory Note and Second Deed of Trust. Notwithstanding anything to the contrary in this Agreement, at close of Escrow of the sale of the Housing Unit from the Developer to the Buyer, the Buyer shall execute a Buyer Promissory Note which shall be secured by a Second Deed of Trust. Said Second Deed of Trust shall be subordinate to any mortgage(s) obtained by the Owner for the purpose of securing funds to be applied to the Sales Price of the Housing Unit. the Buyer Promissory Note shall be non -interest bearing. The principal amount of the Promissory Note shall be an amount equal to the amount actually given as cash plus an Agency Equity Share Amount which becomes applicable only in the event that the Buyer is unable after good faith efforts to find an Eligible Person or Family to transfer the home at Affordable Housing Cost. In the event that the Buyer has provided the Agency with evidence. of their good faith efforts then Agency may approve the sale to a nonqualified buyer and release the covenants by receiving in addition to the cash amount originally provided the additional Agency Equity Amount as provided under the terms of the Buyer Promissory Note. C:\My DocumentsMPDOMAHA Building Horizons.wpd 8 _ 0 4-9 So long as the Transferee purchasing the Housing Unit from the Owner is an Eligible Person or Family and the Sale of the Housing Unit is made at a price which is not in excess of Affordable Housing Cost, the Transferee shall assume the obligations of the Owner under the Promissory Note and Second Deed of Trust to repay the Agency Equity pursuant to the Promissory Note by execution of an assumption agreement in the form set forth as Attachment No. _ of this Agreement, together with other written documentation satisfactory to the Agency, and Agency shall extend the due date of the Agency Equity pursuant to the Note Amount until the next Transfer of the Housing Unit by said Transferee. At such next Transfer, the Agency will again extend the due date of the Agency Equity pursuant to the Note Amount if the Sale or Transfer complies with the requirements of this Section. So long as each Transferee from the Owner and each subsequent Owner: (1) is an Eligible Person or Family, (2) acquires the Housing Unit at an Affordable Housing Cost, and (3) assumes the obligations of the predecessor Owner as aforesaid; then the Agency agrees to extend the due date of the Agency Equity pursuant to the Note Amount and the transferring Owner shall not be required to pay the Agency Equity potion of the Note Amount upon transfer of the Housing Unit. The Agency Equity payment requirement is intended as a penalty against the Owner, to capture a portion of the equity in the Restricted Property for the benefit of the Agency/Holder, in the event that the Owner makes a ale of the Restricted Property to a Buyer that is not an Eligible Person or Family. This equity recapture requirement is intended to be a cumulative remedy, together with all other remedies available to the Agency/Holder to compensate for the removal of the affordable housing covenants of the Grant Deed and this Agreement on the Housing Unit, to compensate the Agency for the administrative costs of operating the housing program of the Agency and to provide funds to the Agency to further assist low and moderate income persons in the provision of housing. In the event the equity recapture provisions of the Promissory Note are found by a court or administrative agency of competent jurisdiction to be in contravention of law or administrative regulation, the Applicable Percentage shall be reduced to the maximum percentage allowable by applicable law or administrative regulation, or may be otherwise modified by judicial decree or order so as to comply with applicable law. (f) Written Consent of Agency Required Before Transfer. During the Affordability Period the Restricted Property or the Restricted Unit, as the case may be, and any interest therein, shall not be conveyed by any Transfer except with the express written consent of the Agency, which consent shall be given only if the Transfer is consistent with the Agency's goal of creating, preserving, maintaining and protecting housing in the City of La Quinta for Eligible Persons and Families and shall be in accordance with the provisions of this subsection 5. This provision shall not prohibit the encumbering of title for the sole purpose of securing financing of the purchase price of the Restricted Unit. (g) Delivery of Documents. Upon the close of the proposed Transfer, the Owner and Transferee, as applicable, shall provide the Agency with a certified copy of the recorded Assumption Agreement, a copy of the final sales contract, settlement statement, escrow instructions, all certificates required by this subsection 5 and any other documents which the Agency may request. CAMy DocumentsMPDOMAHA Building Horizons.wpd 9 050 6. Covenants of Owner. The Owner of each Restricted Unit by acceptance of a deed to the Restricted Unit covenants and agrees that, at all times during the Affordability Period, its Restricted Unit will be continuously occupied by Owner as its principal residence, and shall not be rented, subleased, or subject to any other business arrangement, whereby consideration shall be paid by any occupant of a Restricted Unit to the Owner of the Restricted Unit; provided, if the Restricted Unit is occupied by an Eligible Person or Family, the family members whose income was considered in determining the eligibility of that family may make monetary contributions toward the Purchase Housing Costs of the Restricted Unit. Owner agrees that it shall not record or cause the recordation of any deed of trust (a "Further Encumbrance") securing a note having an original principal sum which, when added to the sum of the principal amount(s) of any notes secured by any deeds of trust against the Restricted Property as of the date of recordation of the Further Encumbrance, exceeds the fair market value of the Restricted Property. B. Use Restrictions. The Property shall be occupied and used as follows: 1. The single-family home on each Parcel ("Unit") shall be used only for private dwelling purposes and for no other purposes. The Units shall not be leased, subleased, rented or otherwise; rather, each Unit shall be the principal dwelling of the owner thereof and his family. 2. There shall be no structural alternation, construction or removal of any structure on any Parcel (other than repairs or rebuilding permitted herein) without the approval of the appropriate City departments or the Agency and in conformance with the City Code. C. Maintenance. The exterior areas of each Parcel shall be kept free of rubbish, debris and other unsightly or unsanitary materials. Each Owner shall have the affirmative obligation to prevent the occurrence on the Parcel owned by such Owner of what might be considered a fire hazard or a condition dangerous to the public health, safety and general welfare; or constitute an unsightly appearance or otherwise detract from the aesthetic and property values of neighboring properties. The following minimum performance standards for the maintenance of the Unit and landscaping on each Parcel shall be adhered to by each Owner. (1) Landscaping on the Property shall be absent of the following: (a) Lawns with grasses in excess of six (6) inches in height. (b) Untrimmed hedges. (c) Dying trees, shrubbery, lawns and other plant lift from lack of water or other necessary maintenance. . (d) Trees and shrubbery grown uncontrolled without proper pruning. (e) Vegetation so overgrown as to be likely to harbor rats or vermin. 051 CAMy DocumentsMIDDOMAHA Building Horizons.wpd 10 (f) Dead, decayed or diseased trees, weeds and other vegetation. (g) Inoperative irrigation system(s). (2) Yard areas shall be maintained so as to be absent of the following: (a) Broken or discarded furniture, appliances and other household equipment stored in yard areas for periods exceeding one (1) week. (b) Packing boxes, lumber, trash, dirt and other debris stored in yards for unreasonable periods in areas visible from public property or neighboring properties. (3) ' No building, wall or fence may be left in an unmaintained condition so that any of the following exist: (a) Buildings abandoned, boarded up, partially destroyed or left unreasonably in a state or partial construction. (b) Unpainted buildings or buildings with peeling paint in such a condition as to i. Cause dry rot, warping and termite infestation; or ii. Constitute an unsightly appearance that detracts form the aesthetic or property values of neighboring properties. (c) Broken windows, constituting hazardous conditions and/or inviting trespassers and malicious mischief. (d) Damaged garage doors that may become inoperative or unsafe to operate. (e) Graffiti remaining on any portion of the property for a period exceeding ten (10) days. (f) Building interiors and exteriors shall be maintained to meet standards of similar residential property in the City of La Quinta. D. City's Right of Review and Enforcement. The City of La Quinta (the "City") and the Agency shall be made a party to this Declaration for the limited purpose as specified herein as follows: 1. Changes or amendments to this Declaration must be submitted for City/Agency review and approval. CAMy DocumentsMPDOMAHA Building Horizons.wpd 1 1 052 2. In the event of inaction by any Owner, the City and Agency are hereby granted expedient power to enforce all provisions of this Declaration including, but not limited to, the maintenance of the Improvements and all yards, buildings and landscaping areas within the Site. E. Miscellaneous Provisions. 1. If any provision of this Declaration or portion thereof, or the application to any person or circumstances, shall to any extent be held invalid, inoperative or unenforceable, the remainder of this Declaration, or the application of such provision or portion thereof to any other persons or circumstances, shall not be affected thereby; it shall not be deemed that any such invalid provision affects the consideration for this Declaration; and each provision of this Declaration shall be valid and enforceable to the fullest extent permitted by law. 2. This Declaration shall be construed in accordance with the laws of the State of California. 3. This Declaration shall be binding upon and inure to the benefit of the successors and assigns of the Developer. 4. In the event action is instituted to enforce. any o the provisions of this Declaration, the prevailing party in such action shall be entitled to recover fro the other party thereto as part of the judgment, reasonable attorney's fees and costs. F. The covenants and agreements established in this Declaration shall, without regard to technical classification and designation, be binding on each Owner and any successor in interest to the Property, or any part thereof (including each Parcel) for the benefit of and in favor of the Agency, its successor and assigns, and the City of la Quinta, and shall remain in effect for thirty (30) days from the date of the recording of this document). IN WITNESS WHEREOF, Owner has executed this instrument the day and year first hereinabove written. Dated: BUILDING HORIZONS, INC., a California corporation By: Its: "OWNER" CAMy Documents\WPDOMAHA Building Horizonsmpd 12 - 053 EXHIBIT "A" TO ATTACHMENT NO. 5 THE PROPERTY (To Be Inserted) 054 CAMy Documents\WPDOCS\AHA Building Horizons.wpd 13 ATTACHMENT NO.6 CERTIFICATE OF COMPLETION RECORDING REQUESTED BY ) AND WHEN RECORDED MAIL TO: ) LA QUINTA REDEVELOPMENT AGENCY ) 78-495 Calle Tampico ) La Quinta, California 92253 ) Attn: Executive Director 1 Space above for Recorder's use. CERTIFICATE OF COMPLETION OF CONSTRUCTION AND DEVELOPMENT WHEREAS, by an Affordable Housing Agreement dated , 2000, by and between the LA QUINTA REDEVELOPMENT AGENCY, a public body, corporate and politic (hereinafter referred to as the "Agency") and BUILDING HORIZONS, INC. (collectively referred to as the "Developer"), the Developer has constructed improvements upon the real property (the "Site"), legally described on the attached Exhibit A, by constructing or causing to be constructed the improvements thereon according to the terms and conditions of said Affordable Housing Agreement (the "Agreement"); and WHEREAS, pursuant to Section 314 of the Agreement, promptly after completion of the Improvements the Agency shall furnish the Developer with a Certificate of Completion upon written request therefor by the Developer; and WHEREAS, the issuance by the Agency of the Certificate of Completion shall be conclusive evidence that the construction of the Improvements conforms to the Agreement; and WHEREAS, the Developer has requested that the Agency furnish the Developer with the Certificate of Completion; and WHEREAS, the Agency has conclusively determined that the construction of the Improvements conforms to the Agreement; NOW, THEREFORE: 1. As provided in the Agreement, the Agency does hereby certify that the construction of the Improvements required to be constructed on the Site described in Exhibit "A" hereto has been satisfactorily performed and completed, and that such development an construction work complies with the Agreement. CAMy DocumentsMPDOMAHA Building Horizons.wpd 1 - 055 2. This Certificate of Completion does not constitute evidence of compliance with or satisfaction of any obligation -of the Developer to any holder of a mortgage or any insurer of a mortgage security money loaned to finance the work of construction if improvements and development of the Site, or any part hereof. This Certificate of Completion is not a notice of completion as referred to in Section 3093 of the California Civil Code. 3. This Certificate of Completion does not denote completion of any work required to be completed, other than on the Site. 4. The Deed of Trust recorded as document no. among the official land records of the County of Riverside and those Conditions, Covenants and Restrictions recorded as Document No. among the official land records of the County of Riverside shall remain in full force and effect. IN WITNESS WHEREOF, the Agency has executed this Certificate as of this _ day of .2000. LIN ATTEST: DUNE S. GREEK, Agency Secretary NOTARY LA QUINTA REDEVELOPMENT AGENCY THOMAS P. GENEVESE, Executive Director CAMy DocumentsMPDOMAHA Building Horizons.wpd 2 - 056 ATTACHMENT NO. 7 MAXIMUM SALES PRICE ILLUSTRATION [This shall be prepared when Developer ready to start sales of units] 057 C:\My Documents\WPDOCS\AHA Building Horizons.wpd ATTACHMENT NO. 8 CERTIFICATE OF PROPOSED TRANSFEREE THIS FORM MUST BE DELIVERED TO THE OWNER BEFORE PROCEEDING WITH ANY TRANSFER OF THE PROPERTY. 1. The Proposed Transferee is Names: Current Address: Telephone Number: 2 12000 The address of the property which the proposed transferee desires to purchase is (the "Property"), which wasbuilt in the La Quinta Redevelopment Project Area No. 1. 3. The proposed transferee represents, warrants and covenants the following: (a) The proposed transferee has never previously owned a single-family home. (b) The Property will be the principal residence of the proposed transferee. (c) The combined maximum annual income in the current year for all household members of the proposed transferee is $ (This figure must reflect income form all sources.) (d) The proposed transferee will deliver to the Agency a signed financial statement on a form acceptable to the Agency. 4. The proposed transferee's household consists of the following persons who will reside in the Property: CAMy DocumentsMPDOMAHA Building Horizons.wpd 1 058 Adults (18 or over) - [name of each]: Minors (under 18) [name of each]: 5. The proposed transferee must submit to the Owner, on a form available from the Owner, an income certification so the Owner may determine if the proposed transferee is an Eligible Person or Family. 6. A true and correct copy of the proposed transferee's most recent tax return to the U.S. Internal Revenue Service is attached hereto. 7. The terms of the proposed transfer are: (a) Sales price of $ . This sales price is based on the maximum price at which the Purchase Housing Cost of the Proposed Transferee would not exceed Affordable Housing Cost. The calculation of the Sales Price under this section is illustrated in Attachment No. _ to the Agreement. IN ORDER TO ANSWER QUESTION 2(b) YOU MUST CALCULATE THE PROPOSED SALES PRICE BASED ON AFFORDABLE HOUSING COST, TAKING INTO CONSIDERATION ALL ITEMS LISTED IN THE DEFINITION OF PURCHASE HOUSING COST. (b) Price of any personal property being sold by the Owner to the proposed transferee: $ (if none, so- state) (c) The price of $ of Owner. (If no, so state). to be paid by the proposed, transferee for any services (d) All other amounts of money or other consideration, if any, concerning the Property or any other matter to be paid by the proposed transferee to the Owner: $ (if none, so state). (e) Sources of payment of sales price: Sales price $ Cash down payment $ CAMy DocumentsMPDOMAHA Building Horizonsmpd 2 059 1 st loan $ 2nd loan $ Other (describe) $ Total $ (f) The financing obtained by the proposed transferee to purchase the Property is as follows: 1 st Loan: Loan amount: $ Monthly payments: $ Interest rate If variable interest, describe adjustment mechanism: Due date: Balloon payment amount: Points and fees: Lender: Lender's address: 2nd Loan: Loan amount: $ Monthly payments: $ Interest rate If variable interest, describe adjustment mechanism: 060 CAMy Documents\WPDOMAHA Building Horizons.wpd 3 Due date: Balloon payment amount: Points and fees: Lender: Lender's address: Other Loans: (describe, if none, so state) (g) The monthly Purchase Housing Cost to be paid by the proposed transferee: 1 st loan monthly payment: $ 2nd loan monthly payment: $ Other loans monthly payment: $ Taxes and assessments (1 /12 of yearly taxes and assessments): $ Insurance (1/12 of yearly premium): $ Homeowner's dues: $ Total: $ 8. A true and correct copy of the purchase and sale or other agreement between the owner and the proposed transferee is attached hereto. I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct. PROPOSED TRANSFEREE: Date Signature Print Name Street Address Telephone City State Zip Code C:\My Documents\WPDOMAHA Building Horizonsmpd 4 Signature Print Name -- 061 Developer's Certification Based on the Proposed Transferee's Certificate above, and all documents attached hereto, Developer hereby certifies that: (1) Proposed Transferee is an Eligible Person or Family; and (2) The monthly Purchase Housing Cost to be paid by the Proposed Transferee shall not exceed the monthly Affordable Housing Cost. [Capitalized terms used above are defined in the Agreement to which this certificate is attached.] OWNER: [Name] Date: CAMy DocumentsMPDOMAHA Building Horizons.wpd 5 062 ATTACHMENT NO.9 NOTICE OF INTENT TO TRANSFER NOTICE OF INTENT TO TRANSFER MUST BE DELIVERED TO THE LA QUINTA REDEVELOPMENT AGENCY PRIOR TO PROCEEDING WITH ANY TRANSFER OF THE PROPERTY. From: To: La Quinta Redevelopment Agency c/o City of La Quinta Housing Department La Quinta, CA 92253 Attn: Development Officer Re: La Quinta, CA (the "Property") Redevelopment Project Area (street address) ("Owner") Owner desires to [sell, convey, transfer by inheritance or devise, lease, gift, otherwise transfer] (circle appropriate words) the Property. If the Agency has a program to help locate an Eligible Family, does the Owner want the Agency to help look for an Eligible Person or Family to buy the Property? Yes No Date: Signature of Owner Day time telephone of Owner Date: Signature of Owner Day time telephone of Owner C:\My DocumentsMPDOMAHA Building Horizons.wpd 1 063 ATTACHMENT NO. 10 REQUEST FOR APPROVAL OF PROPOSED TRANSFEREE THIS FORM MUST BE DELIVERED TO THE LA QUINTA REDEVELOPMENT AGENCY BEFORE PROCEEDING WITH ANY TRANSFER OF THE PROPERTY 2000 La Quinta Redevelopment Agency c/o City of La Quints 78-495 Calle Tampico La Quinta, CA 92253 Attn: Development Officer Redevelopment Project Area Re: Request for Approval of Proposed Transferee To Whom It May Concern: The undersigned is the -owner of real property in La Quinta, located at (the "Property"), which was . built within the Redevelopment Project Area. The Owner now desires to transfer the Property and by this letter is requesting the City of La Quinta to approve the proposed transferee. 1. The Proposed Transferee is Names: Current Address: Telephone Number: C:\My Documents\WPDOMAHA Building Horizonsmpd 1 064 2. The terms of the proposed transfer are (a) Sales price of $ . This sales price is based on the lesser of (i) Fair market value; or (ii) The maximum price at which the Purchase Housing Cost of the Proposed Transferee would not exceed Affordable Housing Cost. The calculation of the Sales Price under this subsection (ii) is illustrated in Attachment No. _ to the Agreement. IN ORDER TO ANSWER QUESTION 2(b) YOU MUST CALCULATE THE PROPOSED SALES PRICE BASED ON AFFORDABLE HOUSING COST, TAKING INTO CONSIDERATION ALL ITEMS LISTED IN THE DEFINITION OF PURCHASE HOUSING COST. (b) Q Price of any personal property being sold by the Owner to the proposed transferee: _ (If none, so state) (c) The price of $_ of Owner. (If none, so state). to be paid by the proposed transferee for any services (d) All other amounts of money or other consideration, if any, concerning the Property or any other matter to be paid by the proposed transferee to the Owner: $ (if none, so state). (e) Sources of payment of sales price: Sales price $ Cash down payment $ 1 st loan $ 2nd loan $ Other (describe) $ Total $ (f) The financing obtained by the proposed transferee to purchase the Property is as follows: CAMy DocumentsMI'DOMAHA Building Horizons.wpd 2 065 I st Loan: Loan amount: $ Monthly payments: $ Interest rate If variable interest, describe adjustment mechanism: Due date: Balloon payment amount: Points and fees: Lender: Lender's address: 2nd Loan: Loan amount: $ Monthly payments: $ Interest rate If variable interest, describe adjustment mechanism: Due date: Balloon payment amount: Points and fees: Lender: Lender's address: C:\My Documents\WPDOCS\AHA Buildrng Horizons.wpd 3 066 Other Loans: (describe, if none, so state) (g) The monthly Purchase Housing Cost to be paid by the proposed transferee: 1 st loan monthly payment: $ 2nd loan monthly payment: $ Other loans monthly payment: $ Taxes and assessments (1/12 of yearly taxes and assessments): $ Insurance (1 / 12 of yearly premium): $ Homeowner's dues: $ Total: $ 3. The proposed transferee represents, warrants and covenants the following: (a) The Property will be the principal residence of the proposed transferee. (b) The combined maximum annual income for all household members of the proposed transferee is $ (This figure must include al sources of income). (c) The proposed transferee will deliver to the Agency a signed financial statement on a form acceptable to the Agency. 4. The proposed transferee's household consists of the following persons who will reside in the Property: Adults (18 or over) - [name of each] : CAMy DocumentsMPDOMAHA Building Horizonsmpd 4 - 067 Minors (under 18) [name of each]: 5. The proposed transferee must submit to the Owner, on a form available from the Owner, an income certification so the Owner may determine if the proposed transferee is an Eligible Person or Family. 6. A true and correct copy of the proposed transferee's most recent tax return to the U.S. Internal Revenue Service is attached hereto. 7. A true and correct copy of the purchase and sale or other agreement between the owner and the proposed transferee is attached hereto. I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct. OWNER: Date Signature Print Name Street Address Telephone City State Zip Code Signature Print Name C:\My DOCUmentsMPDOMAHA Building Horizons.wpd 5 068 6Q PROPOSED TRANSFEREE: Date Signature Print Name Street Address Telephone City State Zip Code Signature Print Name C:\My Documents\WPDOMAHA Building Horizons.wpd 6 _ 069 ATTACHMENT NO. 11 RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: LA QUINTA REDEVELOPMENT AGENCY ) 78-495 Calle Tampico ) La Quinta, California 92253 ) Space above for recorder. ASSUMPTION AGREEMENT This Assumption Agreement is entered into by: The La Quinta Redevelopment Agency ("Agency") Date of Agreement: FACTS ("Selling Owners") ('Buying Owners") A. Selling Owners are all of the owners of property commonly known as , La Quinta, California (the "Property") and more particularly described in Exhibit A attached hereto and incorporated herein by reference. B. The Property is subject to the Affordable Housing Agreement between the Agency and Building Horizons, Inc., a California nonprofit public benefit corporation, dated as of (the "Agreement", a copy of which is on file with the Agency as a public record and is incorporated herein by reference, the Grant Deed recorded at Book , Page Series M of the official land records of Riverside County (the "Grant Deed"), and that certain Second Deed of Trust recorded at Book , Page _, Series No. of the official land records of Riverside County (the "Deed of Trust", and those Conditions, Covenants and Restrictions, recorded at Book , Page , Series No. _ of the Official Records of Riverside County (the "Restriction"). The Agreement, the Deed of Trust, and the Restriction restricts the sales price that can be charged for the Property and the persons to whom the Property can be sold. CAMy Documents\WPDOCS\AHA Building Horizonsmpd 1 - 070 C. Buying Owners desire to purchase the Property. Buying Owners understand that the Restriction will limit the purchase price they can receive when they sell the Property and will limit the people to whom they can sell the Property. D. Buying Owners are able to purchase the Property because the purchase price of the Property may be less than other similar property without Restrictions. For this reason Buying Owners desire to purchase the Property. E. In order to purchase the Property, Buying Owners must assume all obligations of the Owner under the Agreement, the Deed of Trust, and the Restriction and must agree to bound by al provisions in the Restriction. NOW, THEREFORE, Buying Owners agree as follows: 1. Acknowledgment of Limitation on Future Price. BUYING OWNERS UNDERSTAND THAT WHEN BUYING OWNERS DESIRE TO SELL OR TRANSFER THE PROPERTY THAT THE ALE PRICE CAN BE DETERMINED ONLY AT THE TIME OF THE PROPOSED TRANSFER TAKING INTO CONSIDERATION INTEREST RATES, PROPERTY TAXES AND OTHER FACTS THAT CANNOT BE PREDICTED ACCURATELY AND THAT THE SALES PRICE MAY NOT INCREASE OR DECREASE IN THE SAME MANNER AS OTHER SIMILAR PROPERTY THAT IS NOT ENCUMBERED WITH THE AGREEMENT, THE DEED OF TRUST, AND THE RESTRICTION, BUYING OWNERS ALSO ACKNOWLEDGE THAT ALL TIMES IN SETTING THE SALES PRICE THE PRIMARY OBJECTIVE OF THE AGENCY AND THE RESTRICTION IS TO PROVIDE HOUSING TO ELIGIBLE PERSONS OR FAMILIES AT AFFORDABLE HOUSING COST. THE SALE PRICE, WHEN BUYING OWNERS DECIDE TO SELL THE PROPERTY, WILL LIKELY BE LESS THAN OTHER SIMILAR PROPERTIES WHICH HAVE NO RESTRICTIONS. Buyer's Initials 2. Understand the Agreement the Deed of Trust. and the Restriction. Buying Owners represent that they have read the Restriction and fully understand the Agreement, the Deed of Trust, and the Restriction. 3. Owner Occupancy. Buying Owners agree that they will occupy the Property as their primary residence and that they will comply with all provisions of the Agreement, the Deed of Trust and the Restriction relating to the occupancy of the Property. 4. Assumption of Obligations Under the Agreement. the Deed of Trust. and the Restriction. As a material consideration to the Agency in approving Buying Owners, Buying Owners hereby assume al obligations of the Owner (as defined in the Agreement, the Deed of Trust, and the Restriction), related to the Property set forth in the Agreement, the Deed of Trust, and the Restriction. Buying Owners agree to be bound by all duties and obligations of the Owner in the Agreement, the Deed of Trust, and the Restriction and agree to comply with all provisions thereof for the term of the Agreement, the Deed of Trust and the Restriction. Buying Owners agree as set forth above in order to have the benefit of the restricted purchase price for which the Property is offered. -- 071 CAMy DocumentsMPDOMAHA Building Horizonsmpd 2 5. Remedies. Upon the occurrence of an Event of Default, the Agency shall have the following remedies: (a) Specific Performance. The Agency shall have the right to bring an action for specific performance of this Agreement to require the Developer to comply whit the terms and provisions of this Agreement. Developer acknowledges, that it is the intention of Developer and the Agency that these provisions be specifically enforceable to maintain the supply of affordable housing for Eligible Persons and Families. (b) Application to Court. The Agency may apply to a court of competent jurisdiction for an injunction prohibiting a proposed Transfer in violation of this Agreement, for a declaration that a Transfer is void or for any other such relief as may be appropriate. (c) All Remedies Available and Cumulative. Upon the occurrence of an Event of Default, the Agency shall have the right to exercise all the rights and remedies, and to maintain any action at law or suits in equity or other real property proceedings, to enforce the provisions of this Assumption Agreement, the Agreement, the Restriction and the Deed of Trust, and to cure any Event of Default or violation hereof. No delay in enforcing the provisions thereof as to any Event of Default or violation shall impair, damage or Waive the right of the Agency to enforce the provisions of this Agreement in the future or any continuing or new breach or violation of any of the covenants or restrictions contained in this Assumption Agreement, the Agreement, the Restrictions, and the Deed of Trust. All rights and remedies, including without limitation those set forth in Section (a) above, of any party legally entitled to enforce this Assumption Agreement, the Agreement, the Restrictions, and the Deed of Trust, shall be cumulative and the exercise of any such right or remedy shall not impair or prejudice and shall not be a waiver of the right to exercise any other such right and remedy. IN WITNESS WHEREOF, the parties have executed this Assumption Agreement to be effective on the date of recordation of a deed conveying the Property to Buying Owners. Date Buying Owner Date Buying Owner Based on information provided by Selling Owners and Buying Owners and on Buying Owners execution hereof, the La Quinta Redevelopment Agency hereby approves Buying Owners to purchase the Property subject to this Agreement. LA QUINTA REDEVELOPMENT AGENCY Date Name: Title: CAMy DocumentsMI'DOMAHA Building Horizons.wpd 0 7 2, DEPARTMENT REPORT: � s TO: The Honorable Chair and Members of the Redevelopment Agency FROM: City Clerk June Greek ; DATE: March 7, 2000 RE: Redevelopment Agency Summer Meeting Schedule In reviewing the meeting calendar for the year 2000, staff has noted that the first Tuesday of July will fall on the fourth of July, a national holiday. The Redevelopment Agency may wish to choose an alternate meeting date. In previous years, the Redevelopment Agency has chosen to approve a modified summer schedule, holding only one Redevelopment Agency meeting during August and/or September. Should this be the pleasure of the Agency again this year, direction to the City Clerk/Agency Secretary to adjourn the designated meeting(s) due to lack of a quorum would be in order. The regular meeting schedule for the year 2000 is August 4th and 18th and September 51h and 19th. It is important that direction be given so public hearings and other matters can be scheduled accordingly. T4ht 4 4 Q" AGENDA CATEGORY: BUSINESS SESSION: COUNCIL/RDA MEETING DATE: March 7, 2000 CONSENT CALENDAR: STUDY SESSION: A Joint Public Hearing Between the Redevelopment PUBLIC HEARING: Agency and the City of La Quinta to Consider a Resolution Approving and Authorizing Execution of a Purchase and Sale Agreement and Operating and Use Agreement by and Between the Redevelopment Agency and the La Quinta Historical Society for Acquisition of Property to be Operated as a Public Museum and Allowing the City to Loan Funds to the Redevelopment Agency to Acquire the Museum RECOMMENDATION: Adopt a Redevelopment Agency Resolution approving the purchase of the La Quinta Historical Museum, an Operating and Use Agreement with the Historical Society, and a loan from the City to fund property purchase and closing costs. FISCAL IMPLICATIONS: The Museum purchase would result in the expenditure of up to $1 15,000 to purchase the property and fund property survey and closing costs; property purchase costs will be approximately $106,000, with the remaining $9,000 for site environmental surveys, a boundary survey and closing costs. The funds would be a $115,000 loan from the City to the Agency at a 10% simple interest rate with no specified repayment date. BACKGROUND AND OVERVIEW: In 1998, the La Quinta Historical Society purchased the property located at 77-855 Avenida Montezuma to establish permanent facilities for the La Quinta Historical Museum. The Society has not been able to raise sufficient revenue to fund property debt service and operations expenses, nor generate capital to fund building and exhibit expansion activities. Both the City's economic development program and the Agency's redevelopment agenda call for the preservation and expansion of cultural facilities. The Society approached the City with the concept of Agency purchase of the museum property freeing capital for program and exhibit expansion. The proposed transaction would accomplish this purpose. Further, both the Redevelopment Plan and Implementation Plan for La Quinta Redevelopment Project Area No. 1 call for the preservation and expansion of cultural and public facilities in Project Area No. 1. This transaction will preserve a cultural facility in Project Area No. 1 that serves the community and promotes visits to the La Quinta Village. The latter activity generates traffic for Village businesses. Sections 33445 and 33679 of the California Community Redevelopment Law provide that the Agency may purchase a public facility if no other reasonable means are available to the community. Further, the law provides that this transaction may only be approved after a public hearing to receive community input. The Joint Public Hearing is being held to solicit community input on the proposed Agency purchase and the proposed financing transaction. Agency funds are currently encumbered to fund other infrastructure and blight removal projects. To facilitate the property purchase, the City will loan the Agency $1 15,000 to cover approximately $106,000 in property purchase costs, and $9,000 in environmental survey and closing costs. The loan will be repaid from future Project No. 1 tax increment revenue. Attachment 1 to this report presents the Summary Report on this transaction. If the property purchase is approved, the Agency then proposes to contract with the Historical Society to operate and maintain the premises. Attachment 2 to this report presents the Operating and Use Agreement between the Agency and the Historical Society. In general, the Agreement runs for a one-year term with annual renewal provisions. The Historical Society's responsibilities include minimum hours of operation, staffing and janitorial services, utility costs, promotional activities, general liability and exhibit insurance, and offering educational programs. Agency responsibilities include interior and exterior building repairs, landscaping and parking lot maintenance, and securing liability and fire insurance. FINDINGS AND ALTERNATIVES: The alternatives available to the Agency Board include: 1. Adopt a Resolution approving the purchase of the La Quinta Historical Museum, the Operating and Use Agreement with the Historical Society, and a loan from the City to fund property purchase and closing costs; or 2. Do not approve the acquisition and use transaction; or 3. Provide staff with alternative direction. - 002 Respectfully submitted, Mark Weiss Assistant City Manager Approved for submission by: Thomas P. Genovese Executive Director Attachments: 1. Summary Report on Proposed Agency Purchase and Financing Transaction 2. Operating and Use Agreement between the Agency and the Historical Society 003 RESOLUTION NO. RA 2000- A RESOLUTION OF THE REDEVELOPMENT AGENCY OF CITY OF LA QUINTA APPROVING AND AUTHORIZING THE EXECUTION OF A PURCHASE AND SALE AGREEMENT BY AND BETWEEN THE LA QUINTA REDEVELOPMENT AGENCY AND THE LA QUINTA HISTORICAL SOCIETY FOR ACQUISITION OF PROPERTY TO BE OPERATED AS A PUBLIC MUSEUM AND MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH WHEREAS, the La Quinta Redevelopment Agency (the "Agency") is engaged in activities necessary to carry out and implement the Redevelopment Plan (the "Redevelopment Plan") for La Quinta Redevelopment Project Area No. 1 (the "Project" or the "Project Area"); and, WHEREAS, one of the specified activities in the Redevelopment Plan is the assistance with rehabilitating or constructing certain public improvements including but not limited to cultural facility improvements; and, WHEREAS, the La Quinta Historical Society (the "Society") has established a historical museum open to the public (the "Museum") located at 77- 885 Calle Montezuma in Project Area No. 1; and, WHEREAS, the Agency finds that this public museum qualifies as a cultural facility pursuant to the Redevelopment Plan and that facility is in need of renovation and expansion in order to adequately address the needs of the community for preservation and education of the public of the area's historically significant artifacts; and, WHEREAS, pursuant to Health and Safety Code Section 33445, the legislative body has found that the acquisition for rehabilitation and expansion of the Museum, pursuant to the Purchase and Sale Agreement attached as "Exhibit A," is of benefit to the Project Area and the immediate neighborhood of the Museum; that no other reasonable means of financing the acquisition and any subsequent improvements are available to the community; and that the payment of funds for the acquisition and subsequent improvement will assist in the elimination of one or more blighting conditions inside the project area; and, WHEREAS, the Agency has the ability to finance the acquisition over the long term but does not have the available funds immediately, and therefore it is necessary to borrow the required funds for the acquisition from the City pursuant 11� Resolution No. RA 2000- Purchase and Sale Agreement for Historical Society Museum to the same terms that the City and Agency have previously borrowed funds to support Agency projects pursuant to the Redevelopment Plan; and, WHEREAS, the Society has experience in operating the Museum and the Agency wishes to utilize their experience to continue operating it under the terms of the proposed Operating and Use Agreement attached as "Exhibit B;" and, WHEREAS, the Agency has noticed the time and place and conducted a public hearing pursuant to Health and Safety Code Section 33679 and has provided the information required including costs, purposes and finding of no alternative source of funding. NOW, THEREFORE, THE BOARD OF THE LA QUINTA REDEVELOPMENT AGENCY DOES HEREBY FIND AND RESOLVE AS FOLLOWS: Section 1. The above recitals are incorporated as true and correct findings by the Agency Board. Section 2. The Agency's purchase of the Museum pursuant to the Purchase and Sale Agreement is for fair market when taking into consideration the appraised amount and the benefit to the public in preserving the historical building and expanding its availability to the public. Section 3. The Agency shall borrow the funds for the acquisition at the 10% interest rate and repayment terms as prior loans between the City and Agency. Section 4. The acquisition of the Museum is exempt under CEQA pursuant to Section 15325.Class 25(e) as it is an acquisition to preserve a historical resource. Prior to undertaking specific expansion of the Museum, additional environmental review will be conducted. Section 5. The Purchase and Sale Agreement and the Operating Agreement are approved for execution and the executive director is authorized to take all steps necessary to implement those agreements. Section 6. The Agency Secretary shall certify to the adoption of the Resolution in the manner required by law. 005 Resolution No. RA 2000- Purchase and Sale Agreement for Historical Society Museum PASSED, APPROVED AND ADOPTED THIS DAY OF March, 2000 by the following vote: AYES: NOES: ABSENT: ABSTAIN: TERRY HENDERSON, Chair City of La Quinta, California ATTEST: JUNE S. GREEK, Agency Secretary City of La Quinta, California APPROVED AS TO FORM: DAWN C. HONEYWELL, Agency Counsel City of La Quinta, California AM, AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY 77-885 AVENIDA MONTEZUMA CITY OF LA QUINTA, CALIFORNIA BY AND BETWEEN LA QUINTA HISTORICAL SOCIETY, A CALIFORNIA NOT FOR PROFIT CORPORATION, SELLER AND LA QUINTA REDEVELOPMENT AGENCY, BUYER 007 TABLE OF CONTENTS 1. Purchase and Sale.................................................................................. 1 2. Purchase Price...................................................................•................... 1 3. Payment of Purchase Price..................................................................... 1 4. Escrow...................................................................................................2 S. Close of Escrow.........................................:........................................... 2 6. Testing..................................................................................................3 7. License.................................................................................................. 3 8. Cost and Prorations............................................................................... 4 9. Condition of Title................................................................................... 5 10. Agency's Conditions Precedent to Closing .............................................. 5 11. Seller's Conditions Precedent to Closing ................................................ 6 12. Warranties and Representations by Seller ............................................... 6 13. Documents to be Delivered Prior to Close of Escrow ............................... 7 14. Escrow Holder's Instructions.................................................................. 8 15. Title Insurance Policy............................................................................. 8 16. Broker's Commission............................................................................. 8 17. Waiver, Consent and Remedies............................................................... 8 18. Certain Limitations................................................................................ 9 19. Attorneys' Fees...................................................................................... 9 20. Notices.................................................".................................................9 21. Gender and Number.............................................................................10 22. Entire Agreement..................................................................................10 23. Captions...............................................................................................10 24. Governing Law......................................................................................10 25. Invalidity of Provisions..........................................................................10 26. Amendments........................................................................................10 27. Counterparts........................................................................................10 28. General Provisions Applicable to Escrow Holder.....................................10 29. Non-Discrimination...............................................................................11 30. Written Notices.....................................................................................11 31. Exhibits................................................................................................1 1 32. Cooperation on Termination.................................................................1 1 11: PURCHASE AGREEMENT AND ESCROW INSTRUCTIONS TO: Foresite Escrow Company ("Escrow Holder") 41-995 Boardwalk, Suite G-2 Palm Desert, California 92211-5110 PHONE: (760) 773-5333 FAX: (760) 773-9289 Escrow No. 2-30228 ("Escrow") Escrow Officer: Laine Floan Date of Opening of Escrow: 1/18/00 APN: 773-101-001, 002 AND 003 Title Order #534724 THIS PURCHASE AGREEMENT AND ESCROW INSTRUCTIONS (`Agreement") is made this ____ day of ------------------------ 2000 by and among LA QUINTA HISTORICAL SOCIETY, A NOT FOR PROFIT CORPORATION, ("Seller") and the LA QUINTA REDEVELOPMENT AGENCY, a public body corporate and politic ("Agency"), or its nominee. The "Effective Date" of this Agreement shall be the latest date on which the last of Seller or Agency have executed this Agreement. RECITALS A. Seller is the owner of that certain real property located at 77-885 Calle Montezuma, in the City of La Quinta, County of Riverside, State of California, particularly described in Exhibit "A" attached hereto and incorporated herein by this reference ("Property"). B. Seller desires to sell the Property subject to the terms and provisions contained herein and Agency desires to purchase the Property with funds from its Redevelopment Project Area No. 1 for purposes of rehabilitation and expansion of the La Quinta Museum at its current location. NOW, THEREFORE, in consideration of the foregoing recitals and the covenants and conditions contained herein and in the other documents referred to herein relating to the purchase and sale of the Property, and other valuable consideration, the receipt of which are hereby acknowledged, Agency and Seller agree: 1. Purchase and Sale. Upon all the terms and conditions contained herein, Agency hereby agrees to purchase the Property from Seller and Seller agrees to sell the Property to Agency. 2. Purchase Price. The purchase price ("Purchase Price") and terms of the purchase by Agency for the Property shall be the amount remaining on the existing Note and Deed of Trust in favor of Dimmer Family Foundation with an original balance of One Hundred Fifty Thousand and no/100 ($150,000). The Purchase Price shall be determined as of the Close of Escrow. 3. Payment of Purchase Price. The entire Purchase Price shall be payable in cash or immediately available funds by the Agency at Close of Escrow. 02/17/00 Pagel 4. Escrow. References in this Agreement to the "Opening of Escrow" shall mean the date a copy of this Agreement, signed by all parties, is deposited with Escrow Holder. The Opening of Escrow shall occur within ten (10) business days of the Effective Date of this Agreement ("Opening Deadline"). Escrow Holder will notify all parties when Escrow has opened. If Escrow is not opened by the Opening Deadline, this Agreement shall terminate at the election of any party by delivery of written notice to the other parties and Escrow Holder within five (5) business days of the Opening Deadline. By such deposit, Escrow Holder is hereby authorized and instructed to act in accordance with the provisions of this Agreement. Agency and Seller shall each deposit such other instruments as are reasonably necessary to close Escrow and complete the sale and purchase of the Property in accordance with the terms of this Agreement. Agency shall deposit $3,000.00 with Escrow Holder upon the Opening of Escrow which will be credited against the purchase price prior to the transfer of title. The rights and obligations of each party set forth in this Agreement and agreed to be undertaken by each party are made in and under the terms of this Agreement independent of Escrow. The parties shall execute the standard escrow instructions of Escrow Holder (Exhibit "E"). This Agreement will supersede the standard instructions of Escrow Holder executed by Agency and Seller in the event of any conflict between the instructions and this Agreement. Except as otherwise provided in this Agreement, each party shall pay 50% of the costs and fees of Escrow Holder; provided however, that any party requesting a special service, such as courier or overnight delivery service, shall pay for such service. 5. Close of Escrow. Escrow shall close on the date hereafter specified by Agency and Seller but in no event later than March 31, 2000 unless extended by mutual written agreement of the parties. In the event this Escrow is not in a condition to close by May 31, 2000, any party not then in default (which default is the cause of the failure to close Escrow) hereunder may elect to terminate this Agreement and the Escrow by giving written notice of such termination to the other parties and to the Escrow Holder. No such termination shall release any party then in default from liability for such default, including without limitation, the costs of Escrow. If no party so elects to terminate this Agreement and the Escrow, Escrow Holder shall close the Escrow as soon as possible. If Escrow should fail to close for any reason, other than as a result of a default, the costs of the Escrow and of terminating the Escrow shall be paid one-half by Seller and one-half by Agency. Notwithstanding the above, should the Escrow terminate due to a defaulting party, such party shall pay for all Escrow fees. For purposes of this Agreement, the "Close of Escrow" shall mean the date Seller's Grant Deed, as defined herein, is filed for recordation with the County Recorder of Riverside County, California. 010 02/17/00 Page 2 6. Testinci. a. Seller shall provide to Agency any copies of tests, reports, or studies in the possession of Seller regarding the physical condition of the Property. b. Agency shall conduct a Phase 1 Environmental test to determine if any Hazardous Materials Contamination is present on the Property. (i) if the cost of the remediation of the Hazardous Materials, according to the Phase I Test, is estimated to be $10,000 or more (including all consultant and inspection costs and continuing monitoring costs), or will require six (6) months or more from the Effective Date to complete, then Agency shall have the option to accept the Property and perform the remediation or terminate this Agreement. C. The term "Hazardous Materials" shall mean (i) any "hazardous substance" as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. Section 9601 et seq.), as amended from time to time, and regulations promulgated thereunder; (ii) any "hazardous substance" as defined by the Carpenter -Presley - Tanner Hazardous Substance Account Act (California Health and Safety Code Section 25300 et seq.), as amended from time to time, and regulations promulgated thereunder; (iii) asbestos, (iv) polychlorinated biphenyls; (v) petroleum, oil, gasoline (refined and unrefined), and their respective by-products and constituents; and (vi) any other substance, whether in the form of a solid, liquid, gas, or any other form whatsoever, which by any "Governmental Requirements" (as defined below) either requires special handling in its use, transportation, generation, collection, storage, handling, treatment or disposal, or is defined as "hazardous" or harmful to the environment. d. The term "Hazardous Materials Contamination" shall mean the contamination (whether presently existing or hereafter occurring) of the improvements, facilities, soil, groundwater, air, or other elements on, in, or of the Property by Hazardous Materials, or the contamination of the buildings, facilities, soil, groundwater, air, or other elements on, in, or of any other property as a result of Hazardous Materials at any time (whether before or after the date of this Agreement) emanating from the Property. e. The term "Governmental Requirements" shall mean all laws, ordinances, statutes, codes, rules, regulations, orders, and decrees of the United States, the State of California, the County of Riverside, the City of La Quinta, or any other political subdivision in which the Property is located, and of any other political subdivision, agency, or instrumentality exercising jurisdiction over the Agency, the Seller, or the Property. 7. License. a. Seller hereby grants to the Agency a nonexclusive right and license ("License") to enter the Property, or any portion thereof, for the purposes of conducting the Phase I Environmental Test. O11 02/17/00 Page 3 b. Agency will not take any action, or permit any action to be taken, which would result in any damage or destruction to the Property, or injury to any person or property upon the Property. If the Close of Escrow does not occur, Agency will restore the Property to the condition it was prior to the conduct of the tests and investigations of Agency. C. Agency will defend, indemnify, and hold Seller, and the officers, directors, employees, representatives, licensees, designees, agents, contractors, guests, and invitees of any of them ("Seller's Indemnified Persons"), harmless from, against, and in respect of any and all losses, claims, damages, liabilities, deficiencies, and expenses (including reasonable accounting fees and legal fees, court costs and reasonable expenses incurred in investigating any threatened action or in enforcing rights under this Section asserted against or suffered by any of the Seller's Indemnified Persons, in connection with or resulting from an act or omission of the Agency on or with respect to the Property prior to the Closing Date. 8. Costs and Prorations. a. Prorations. Escrow Holder shall prorate real property taxes affecting the Property between Seller and Agency as of the Close of Escrow based upon the latest available tax bill. The parties agree that if such prorations are inaccurate due to the fact that the latest available tax bill does not represent the taxes actually assessed, the parties will, as soon as tax bills actually covering the period during which the Close of Escrow takes place are available, make such further adjustments outside of Escrow as may be appropriate. b. Costs to be Paid by Seller. Seller shall pay the following costs: Close of Escrow: (i) property taxes to date. (ii) One-half of Escrow Holder's fee. Costs to be Paid by Agency. Agency shall pay the following costs upon (i) The cost of any documentary transfer taxes on the Grant Deed. (ii) Fees for recording the Grant Deed. (iii) Fees for recording and filing all documents required by this Agreement other than the Grant Deed. (iv) One-half of the Escrow Holder's fee. (v) The cost of a premium for a California Land Title Association (CLTA) standard policy of title insurance insuring the Property in the amount of the Purchase Price, together with any endorsements to such policy reasonably requested by Agency. 012 02/17/00 Page 4 9. Conditions of Title. At the Close of Escrow, title to the Property will be conveyed to Agency and the Title policy will be issued by the Title Company, subject only to Permitted Title Exceptions. The obligation of the Agency to purchase the Property is subject to title to the Property being in the condition specified in this Section. Seller shall not have the obligation to remove from title the following: a. Nondelinquent real property taxes. b. I Nondelinquent bonds or assessment payments. C. Bonds and assessments. d. Encumbrances or liens or title exceptions which were placed on the Property at the request of the City of La Quinta. e. Exceptions 1 through 6 listed in the CLTA policy in the name of the Seller issued April 8, 1998. 10. Agency's Conditions Precedent to Closing. The obligation of Agency to complete the purchase and sale of the Property is subject to and contingent upon the satisfaction of the following conditions set forth at or prior to the Close of Escrow: a. Seller shall deliver through Escrow (i) an executed and recordable grant deed sufficient to convey title to Agency in the form of Exhibit "B" attached hereto and incorporated herein by reference ("Grant Deed"), subject only to the matters described in Section 10(c) below, and (ii) all other documents referenced in Section 13(a). b. Seller is not in default in any of its obligations under the terms of this Agreement. C. Title Company has committed to deliver to Agency a CLTA standard coverage owner's policy of title insurance dated as of the Close of Escrow and approved by Seller, together with any endorsements to such policy reasonably requested by Agency, and approved by Seller, issued by Title Company, insuring Agency in an amount equal to the Purchase Price, and showing title to the Property vested in Agency subject only to: (i) Current real property taxes and all unpaid general and special bonds or assessments; (ii) The printed exceptions contained in said Title Insurance Policy; (iii) Those Permitted Title Exceptions shown in the Preliminary Title Report approved or waived by Agency pursuant to Section 9 herein; and (iv) Any matter suffered, approved, or created by Agency or the City. 013 02/17/00 Page 5 d. The soils condition of the Property is reasonably acceptable to Agency. e. The environmental condition of the Property has been reviewed by Agency pursuant to Paragraph 6, and any required Remedial Measures have been satisfactorily completed to the satisfaction of the Agency pursuant to Section 6 of this Agreement. f. Seller and Agency acknowledge that there is an existing fence encroaching on the Property. Seller agrees to cooperate with the agency and the adjacent landowner to process a lot line adjustment to allow the legal parcel description to match the alignment of the fence. There shall be no cost to the Seller in processing this lot line adjustment. 11. Seller's Conditions Precedent to Closing. The obligation of Seller to complete the sale of the Property is subject to and contingent upon the satisfaction of the conditions set forth below at or prior to Close of Escrow. a. Agency is not in default in any of its obligations under the terms of this Agreement. b. Agency shall have deposited with Escrow Holder immediately available funds in an amount equal to the Purchase Price and Agency's share of prorations and costs described herein. 12. Warranties and Representations of Seller. Seller hereby makes the following representations, covenants, and warranties for the benefit of Agency and Agency's successors and assigns, and acknowledges that the execution of this Agreement by Agency has been made, and the acquisition by Agency of the Property will have been made in material reliance by Agency on such covenants, representations, and warranties: a. Seller is the owner of and has the full right, power, and authority to sell, convey, and transfer the Property to Agency as provided herein, and to carry out Seller's obligations hereunder. b. Seller has not been given notice of any violation of condition of the Property which violates applicable laws, regulations, codes, Governmental Requirements, or covenants, conditions, or restrictions, or of improvements or alterations made to the Property without a permit where one was required, or of any unfulfilled order or directive of any applicable governmental agency, or any casualty insurance company that any work of investigation, remediation, repair, maintenance, or improvements is to be performed on the Property. C. To Seller's knowledge, no one will, at the Close of Escrow, have any right to possession of the Property, except as disclosed by this Agreement. 014 02/17/00 Page 6 d. Seller agrees to provide an adequate lien affidavit at Close of Escrow that there are no outstanding liens of any nature or kind against the property as of the Close of Escrow, except as disclosed in the Title Policy. e. Seller has no actions, suits, or proceeding pending or threatened before any government department, commission, board, bureau, agency, court, or instrumentality that would affect in the Property or the right to occupy or utilize the same. f. Neither Seller, nor any partner of Seller, is the subject of a bankruptcy proceeding, and permission of a bankruptcy court is not necessary for Seller to be able to transfer the Property as provided herein. g. To the best of Seller's knowledge, there are no Hazardous Materials or Hazardous Materials Contamination on, under, or in the Property. 13. Documents to be Delivered Prior to Close of Escrow. a. Prior to Close of Escrow, Seller shall deliver the following documents to Escrow Holder: (i) The Grant Deed, originally executed and acknowledged, attached as Exhibit "B"; 00 An non -foreign transferor declaration ("Non -Foreign Transferor Declaration") duly executed and in the form of Exhibit "C" attached hereto and made a part hereof. (iii) Such funds and documents as are necessary to comply with Seller's obligations under this Agreement, or if not delivered, Escrow Holder is authorized to use Seller's proceeds from the sale in Escrow holder's possession to pay such obligations. b. Prior to the Close of Escrow, Agency shall deposit, on behalf of Agency. with Escrow the following: (i) The Purchase Price in immediately available funds as referenced in Section 3 above. 00 The Deed Acceptance originally executed and in the form of Exhibit "T, attached hereto and made a part hereof. (iii) Such other funds and documents as are necessary to comply with Agency's obligations under this Agreement. 015 02/17/00 Page 7 14. Escrow Holder's Instructions. At such time as (i) the conditions precedent to Close of Escrow described in Section 10 above have been satisfied or waived, (ii) Title Company is prepared to issue the Title Policy described in Section 15 below, and (iii) Escrow Holder has received the documents and funds specified in Section 13 above, Escrow Holder shall: a. Record in the Office of the County Recorder of Riverside County, California, the Grant Deed (Exhibit "B") and the Deed Acceptance (Exhibit "D"). b. Deliver to Seller funds in the amount of the Purchase Price, less Seller's share of prorations and costs described herein (including any costs to pay off existing encumbrances). C. Secure a Note and Full Reconveyance for the existing lien in favor of Dimmer Family Foundation with an original balance of One Hundred Fifty Thousand and no/100 ($150,000) and shall record said reconveyance at the close of escrow. d. Deliver to Agency the Non -Foreign Transferor Declaration, attached as Exhibit "C". e. Report all information required pursuant to Internal Revenue Code Section 6045(e), and shall provide copies of all such reports to all parties hereto. 15. Title Insurance Policy. At Close of Escrow, the Title Company shall issue to Agency the Title Policy in the amount equal to the Purchase Price showing fee simple title to Agency's interest in the Property vested in Agency, subject only to those exceptions described in Section 10(c) above, together with any endorsements which are reasonably requested by the Agency and approved by Seller. 16. Broker's Commission. Agency and Seller represent to each other that no broker is involved in this transaction and no commissions are due. 17. Waiver, Consent. and Remedies. Each provision of this Agreement to be performed by Agency and Seller shall be deemed both a covenant and a condition and shall be a material consideration for Seller's and Agency's performance hereunder, as appropriate, and any breach thereof by Agency or Seller shall be deemed a material default hereunder. Either party may specifically and expressly waive, in writing, any portion of this Agreement or any breach thereof, but no such waiver shall constitute a further or continuing waiver of a preceding or succeeding breach of the same or any other provision. A waiving party may, at any time thereafter, require further compliance by the other party with any breach or provision so waived unless under this Agreement waiver constitutes acceptance. The consent by one party to any act by the other for which such consent was required shall not be deemed to imply consent or waiver of the necessity of obtaining such consent for the same or any similar acts in the future. No waiver or consent shall be implied from silence or any failure of a party to act, except as otherwise specified in this Agreement. All rights, remedies, undertaking, obligations, options, covenants, conditions, and agreements contained in this Agreement shall be cumulative, and no one of them shall be exclusive of any other. Except as otherwise specified herein, either party hereto may pursue any one or more of its rights, options, or remedies hereunder, or may seek damages in the event of the other party's breach hereunder, or may pursue any other remedy at law or equity, whether or not stated in this Agreement. 1110 02/17/00 Page 8 18. Certain Limitations. Except in the situation specified in the last sentence of Section 17, in the event of any alleged default under this Agreement by Seller, or the failure of Seller to convey the Property to Agency, which failure Agency alleges is a default under this Agreement, the Agency specifically agrees that it will not seek specific performance of this Agreement, file a lis pendens with respect to the Property, or take any action which would cause or result in any exception to title being filed or recorded with respect to the Property. In the event of any such default or alleged default, Agency will pursue all such remedies for damages as it may have under this Agreement or at law. If, on the date scheduled for the Close of Escrow, Agency has fully complied with this Agreement, deposits, or has deposited, in Escrow the full amount of the Purchase Price remaining to be paid to Seller and all other required documents, items, and funds, and Agency is ready and willing to purchase the Property and pay the Purchase Price to Seller, without any reservations or conditions, Seller refuses to accept the full payment from Agency and sell and convey the Property to Agency, then under these circumstances, and only under these circumstances, will the prohibitions specified in the first sentence of the Section be inapplicable. 19. Attorneys' Fees. In the event of any declaratory or other legal or equitable action, instituted between Seller, Agency, and/or Escrow Holder in connection with this Agreement, then as between Agency and Seller, the prevailing party shall be entitled to recover from the losing party all of its costs and expenses, including court costs and reasonable attorneys' fees, and all fees, costs, and expenses incurred on any appeal or in collection of any judgment. 20. Notices. Any notice, request, demand, consent, approval, or other communication required or permitted hereunder or by law shall be validly given or made only if in writing and delivered in person to an officer or duly authorized representative of the other party or seventy-two (72) hours after deposited in the United States mail, duly certified or registered (return receipt requested), postage prepaid, and addressed to the party for whom intended, as follows: If to Seller: La Quinta Historical Society Attention: Barbara Irwin, President P.O. Box 1283 La Quinta, California 92253 PHONE: (760) 360-9851 FAX: (760) 772-1 194 If to Agency: La Quinta Redevelopment Agency 78-495 Calle Tampico P.O. Box 1 504 La Quinta, California 92253 Attention: Executive Director PHONE: (760) 777-7100 FAX: (760) 777-7101 Copy to: Dawn Honeywell, Esq. PO BOX 2095 Orange, California 92859-0095 PHONE: (800) 350-6812 FAX: (714) 771-1 109 017 02/17/00 Page 9 Copy to: Rosenow Spevacek Group, Inc. 540 North Golden Circle, Suite 305 Santa Ana, California 92705 Attention: John N. Yonai PHONE: (714) 541-4585 FAX: (714) 836-1748 Any party may from time to time, by written notice to the other, designate a different address which shall be substituted for the specified above. If any notice or other document is sent by mail as aforesaid, the same shall be deemed fully delivered and received forty-eight (48) hours after mailing as provided above. 21. Gender and Number. In this Agreement (unless the context requires otherwise), the masculine, feminine, and neuter genders and the singular and the plural shall be deemed to include one another, as appropriate. 22. Entire Agreement. This Agreement and its exhibits constitute the entire agreement between the parties hereto pertaining to the subject matter hereof, and the final, complete, and exclusive expression of the terms and conditions thereof. All prior agreements, representations, negotiations, and understandings of the parties hereto, oral or written, expressed or implied, are hereby superseded and merged herein. 23. Captions. The captions used herein are for convenience only and are not a part of this Agreement and do not in any way limit or amplify the terms and provisions hereof. 24. Governing Law. This Agreement and the exhibits attached hereto have been negotiated and executed in the State of California and shall be governed by and construed under the laws of the State of California. Any actions brought to enforce this Agreement shall be brought in an appropriate court in Riverside County, California. 25. Invalidity of Provision. If any provision of this Agreement, as applied to any party or to any circumstance, shall be adjudged by a court of competent jurisdiction to be void or unenforceable for any reason, the same shall in no way affect (to the maximum extent permissible by law) any other provision of this Agreement, the application of any such provision under circumstances different from those adjudicated by the court, or the validity or enforceability of this Agreement as a whole. 26. Amendments. No addition to or modification of any provision contained in this Agreement shall be effective unless fully set forth in writing by Agency and Seller. 27. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute but one and the same instrument. 28. General Provisions Applicable to Escrow Holder. All disbursements shall be made by your check except payments to Seller which shall be in immediately available funds. All funds received in this Escrow shall be deposited in one or more of your general escrow accounts with any bank doing business in the State of California and may be transferred to any MW 02/17/00 Page 10 other general escrow account or accounts. Recordation of any instruments delivered through this Escrow, if necessary or proper in the issuance of the Title Policy, is hereby authorized. 29. Non -Discrimination. The Agency herein covenants by and for itself and its heirs, executors, administrators, and assigns, and all persons claiming under or through them, that there shall be no discrimination against or segregation of, any person or group of persons on account of race, color, creed, religion, sex, marital status, age, handicap, national origin, or ancestry in the sale, lease, transfer, use, occupancy, tenure, or enjoyment of the land herein conveyed, nor shall the Agency itself, or any person claiming under or through it, establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees, or vendees in the land herein conveyed. The foregoing covenants shall run with the land. 30. Written Notices. In all cases provided for in this Agreement in which a party is permitted or required to give notice, or to exercise a right or option, including a termination right, then the notice must be in writing and the exercise of the right or option must be in writing. 31. Exhibits. The following exhibits are attached hereto and incorporated herein by this reference: Exhibit "A" Legal Description Exhibit "B" Grant Deed Exhibit "C" Non -Foreign Transferor Declaration Exhibit "D" Deed Acceptance Exhibit "E" Escrow General Provisions 32. Cooperation on Termination. Upon any termination of this Agreement, each party will cooperation with the other to execute, deliver, and/or acknowledge any and all such documents and instruments as may be reasonably requested by the other party to evidence termination of this Agreement. 010 02/17/00 Page 11 IN WITNESS WHEREOF, the parties have executed this agreement as of the date first written above. ATTEST: Agency Secretary APPROVED AS TO FORM: Agency Counsel AGENCY: LA QUINTA REDEVELOPMENT AGENCY, a public body corporate and politic Executive Director SELLER: LA QUINTA HISTORICAL SOCIETY, a California Not for Profit Corporation BY. 020 02/17/00 Page 12 State of California) County of On , before me, personally appeared O personally known to me or O 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 the instrument WITNESS my hand and official seal. (SEAL) Signature: Print Name State of California) County of Commission Expires On , before me, personally appeared , O personally known to me or 0 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 the instrument WITNESS my hand and official seal. (SEAL) Signature: Print Name Commission Expires CAPACITY CLAIMED BY SIGNER O INDIVIDUALS D CORPORATE OFFICERS O PARTNERS O ATTORNEY -IN -FACT 0 TRUSTEE(S) O SUBSCRIBING WITNESS O GUARDIAN/CONSERVATOR O OTHER: SIGNER IS REPRESENTING: (Name Of Person(s) Or Entities) CAPACITY CLAIMED BY SIGNER O INDIVIDUALS O CORPORATE OFFICERS O PARTNERS O ATTORNEY -IN -FACT O TRUSTEE(S) O SUBSCRIBING WITNESS O GUARDIAN/CONSERVATOR O OTHER: SIGNER IS REPRESENTING: (Name Of Person(s) Or Entities) 021 02/17/00 Page 13 EXHIBIT A LEGAL DESCRIPTION LOTS 10, 11, AND 12 IN BLOCK 133, SANTA CARMELITA AT VALE LA QUINTA, UNIT #14, AS PER MAP RECORDED IN BOOK 18, PAGES 82 AND 83 OF MAPS IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY 022 02/17/00 EXHIBIT A RECORDING REQUESTED BY: La Quinta Redevelopment Agency WHEN RECORDED MAIL TO: La Quinta Redevelopment Agency 78-495 Calle Tampico La Quinta, California 92253 GRANT DEED DOCUMENTARY TRANSFER TAX $0.00 FREE RECORDING REQUESTED Essential to Acquisition by the Redevelopment Agency of the City of La Quinta, California See Govt. Code 6103 FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, LA QUINTA HISTORICAL SOCIETY, A CALIFORNIA NOT FOR PROFIT CORPORATION hereby GRANT(S) to the LA QUINTA REDEVELOPMENT AGENCY, A PUBLIC BODY, CORPORATE AND POLITIC all right, title and interest in and to the real property and all right, title and interest in and to the improvements pertaining to the realty which are attached or affixed in any manner to the following described real property (Exhibit "A") attached hereto and by this reference made a part hereof, which either generally or for purposes of this deed are part of that parcel of real property in the City of La Quinta, County of Riverside, State of California, as described as follows: SEE EXHIBIT "A" ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF Grantor for himself, his heirs, representatives and assigns covenants and warrants that: 1) Grantor is the sole owner of the itemized Improvements Pertaining to the Realty conveyed by this Grant Deed free from all liens and encumbrances, and 2) Grantor will defend the title and quiet enjoyment of the real property described above, including all Improvements Pertaining to the Realty, against all demands and claims of all persons. LA QUINTA HISTORICAL SOCIETY, A CALIFORNIA NOT FOR PROFIT CORPORATION Date State of California) County of On before me, personally appeared O personally known to me or O 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 the instrument WITNESS my hand and official seal. (SEAL) Signature: Print Name Commission Expires CAPACITY CLAIMED BY SIGNER O INDIVIDUALS O CORPORATE OFFICERS O PARTNERS O ATTORNEY -IN -FACT O TRUSTEE(S) O SUBSCRIBING WITNESS O GUARDIAN/CONSERVATOR O OTHER: SIGNER IS REPRESENTING: (Name Of Person(s) Or Entities) 02/17/00 023 EXHIBIT"B" EXHIBIT A LEGAL DESCRIPTION LOTS 10, 11, AND 12 IN BLOCK 133, SANTA CARMELITA AT VALE LA QUINTA, UNIT #14, AS PER MAP RECORDED IN BOOK 18, PAGES 82 AND 83 OF MAPS IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY 024 02/17/00 EXHIBIT "B" EXHIBIT ASCII Non -Foreign Transferor Declaration Section 1445 of the Internal Revenue Code of 1954, as amended ("Code"), provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a foreign person. To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by LA QUINTA HISTORICAL SOCIETY, A CALIFORNIA NOT FOR PROFIT CORPORATION, the undersigned hereby certifies the following: 1 . The Transferor is not a foreign corporation, foreign partnership, foreign trust, or foreign estate (as those terms are defined In the Code and the Income Tax Regulations promulgated thereunder); 2. The Transferor's U.S. employer identification number or social security number is ; ; and 3. The Transferor's office address or mailing address is The Transferor understands that this Certification may be disclosed to the Internal Revenue Service by the Transferee and that any false statement contained herein could be punished by fine, imprisonment, or both. Under penalty of perjury we declare that we have examined this Certification and to the best of our knowledge and belief it is true, correct, and complete, and further declare that we have authority to sign this document on behalf of the Transferor. DATE: SELLER LA QUINTA HISTORICAL SOCIETY, A CALIFORNIA NOT FOR PROFIT CORPORATION BY: 025 02/17/00 EXHIBIT "C" EXHIBIT "D" DEED ACCEPTANCE This is to certify that the interest in real property conveyed by the Grant Deed dated , 2000 from LA QUINTA HISTORICAL SOCIETY, A CALIFORNIA NOT FOR PROFIT CORPORATION ("Grantor(s)"), to the La Quinta Redevelopment Agency, a public body corporate and politic ("Agency"), is hereby accepted by the undersigned officer of the Agency on behalf of the Agency on 2000 pursuant to authority conferred by Resolution No. , and the Agency as Grantee consents to recordation thereof by its duly authorized officer. Dated: LA QUINTA REDEVELOPMENT AGENCY, a public body corporate and politic IN Executive Director 026 02/17/00 EXHIBIT "D" EXHIBIT "E" GENERAL PROVISIONS FORESITE ESCROW, INC. Your duty to act as escrow holder shall not commence until these instructions, signed by all parties, are received by you. Until such time either party may unilaterally cancel and, upon written request delivered to you, a party may withdraw funds and documents such party previously handed to you. All funds received in this escrow shall be deposited with a State or National bank with other escrow funds. Make disbursements by your check: checks not presented for payment within six months after date are subject to service charges in accordance with your schedule in effect from time to time. Make all adjustments and prorations on the basis of a 30 day month. "Close of Escrow" as used in this escrow means the date on which documents are recorded, unless otherwise specified. All documents and funds due the respective parties herein are to be mailed to the addresses set out below their respective signatures, unless otherwise instructed. Our signatures on any documents and instructions pertaining to this escrow indicate our unconditional approval of same. Whenever provision is made herein for the payment of any sum, the delivery of any instrument for the performance of any act 'outside of escrow," you as escrow holder shall have no responsibility therefore, shall not be concerned therewith and are specifically relived of any obligation relative thereto. You shall not be responsible or liable in any manner for the sufficiency or correctness as to form, manner of execution or validity of any documents deposited in escrow, nor as to the identity, authority or rights of any person executing the same, either as to documents of record or those handled in this escrow. Your duties hereunder shall be limited to the safekeeping of such money and documents received by you as escrow holder, and for the disposition of the same in accordance with the written instructions accepted by you in this escrow. You shall not be required to take any action in connection with the collection, maturity, or apparent outlaw of any obligations deposited in this escrow, unless otherwise instructed. 4. Seller represents and warrants, and you shall be fully protected in assuming that, as to any insurance policy handed you, such policy is in force, has not been hypothecated, and that all necessary premiums therefore, have been paid. You will transmit for assignment any insurance policy handed you for use in this escrow, but you shall not be responsible for verifying the acceptance of the assignment and policy by the insurance company. ESCROW HOLDER WILL MAKE NO ATTEMPT TO VERIFY THE RECEIPT OF THE REQUEST FOR ASSIGNMENT BY THE ISSUING COMPANY. You are hereby placed on notice that if the insurance company should fail to receive said assignment, the issuing company may deny coverage for any loss suffered by Buyer. IT IS THE OBLIGATION OF THE BUYER OR HIS REPRESENTATIVE TO VERIFY THE ACCEPTANCE OF THE ASSIGNMENT OF THE POLICY BY THE ISSUING COMPANY. Deliver assurance of title, and insurance policies, if any, to holder of senior encumbrance or his order, or if there be no encumbrances, then to the buyer or his order. 6. In the event that the conditions of this escrow have not been complied with at the expiration of the time provided for herein, or any extension thereof, you are instructed to complete the same at the earliest possible date thereafter, unless we or either of us has made written demand upon you for the return of the money and/or instruments deposited by either of us, in which case you may withhold and stop all further proceedings in this escrow without liability upon your part for interest on funds held or for damages until written mutual cancellation instructions signed by all parties shall have been deposited in the escrow, whereupon this escrow will without further notice be considered terminated. 027 02/17/00 EXHIBIT "E" NO NOTICE, DEMAND OR CHANGE OF INSTRUCTIONS SHALL BE OF ANY EFFECT IN THIS ESCROW UNLESS GIVEN IN WRITING BY ALL PARTIES AFFECTED THEREBY. In the event conflicting demands or notices are made or served upon you or any controversy arises between the parties hereto, or with third parties, growing out of or relating to this escrow, you shall have the absolute right to withhold and stop all further proceedings in, and performance of, this escrow until you receive written notification satisfactory to you of the settlement of the controversy by agreement of the parties thereto, or by final judgement of a court of competent jurisdiction. All of the parties to this escrow hereby jointly and severally promise and agree to pay promptly on demand, as well as to indemnify you and to hold you harmless from and against all litigation and interpleader costs, damages judgements, attorney's fees, expenses, obligations and liabilities of every kind which in good faith, you may incur or suffer in connection with or arising out of this escrow, whether said litigation, interpleader, obligations, liabilities or expenses arise during the performance of this escrow, or subsequent thereto, directly or indirectly. 8. You are hereby authorized to deposit any funds or documents handed you under these escrow instruction, or cause the same to be deposited, with any duly authorized sub -escrow agent, subject to your order at or prior to close of escrow, in the event such deposit shall be necessary or convenient for the consummation of this escrow. 9. All parties agree that as far as your rights and liabilities are involved, this transaction is an escrow and not any other legal relation and you are an escrow holder only on the within expressed terms, and you shall have no responsibility of notifying me or any of the parties to this escrow of any sale, resale, loan, exchange, or other transaction involving any property herein described or of any profit realized by an person, firm or corporation (broker, agent and parties to this and/or other escrow included) in connection therewith, regardless of the fact that such transaction(s) may be handled by you in the escrow or in another escrow. NO ACTION SHALL LIE AGAINST ESCROW HOLDER FOR ANY CLAIM, LOSS, LIABILITY OR ALLEGED CAUSE OF ACTION OF ANY KIND OR NATURE WHATSOEVER, HOWEVER, CAUSED OR OCCURRED, UNDER THIS ESCROW OR IN CONNECTION WITH THE HANDLING OR PROCESSING OF THIS ESCROW, UNLESS BROUGHT WITHIN TWELVE (12) MONTHS AFTER THE CLOSE OF ESCROW. 10. You are not to be concerned with the giving of any disclosures except as expressly required by Federal or State law to be given by an escrow agent. Neither are you to be concerned with the effect of zoning ordinances, land division regulations which may pertain to or affect the land improvements that are the subject of this escrow. 11. The parties to this escrow have satisfied themselves outside of escrow that the transaction covered by this escrow is not in violation of the Subdivision Map Act or any other law regulating land division, and you as escrow holder are relived of all responsibility and/or liability in connection therewith, and are not to be concerned with the enforcement of said laws. 12. In the event any Offer to Purchase, Deposit Receipt or any other form of Purchase Agreement is deposited in this escrow, it is understood that such document shall be effective only as between the parties signing said document. You as escrow holder are not to be concerned with terns of such document and are relieved of all responsibility in connection therewith. You are to be concerned only with the directives specifically set forth in the escrow instruction and amendments thereto, and are not to be concerned or liable for items designated as "memoranda' in the within escrow instructions nor with any other agreement or contract between the parties. You are authorized to furnish copies of escrow instructions, supplements, amendments, or notices of cancellation and closing statements in this escrow to real estate broker(s) and lender(s) referred to in this escrow. You are not required to submit any title report issued in connection with this escrow to any party or agent unless directed to do so by written mutual instructions. You may, however, do so without incurring liability to any party for such submission. You are hereby authorized to submit such report to any proposed lender. 13. Time is of the essence of these escrow instruction. In the event of failure to pay fees or expenses due you hereunder, on demand, I agree to pay a reasonable fee for any attorney's services which my be required to collect such fees or expenses. MN 'Loll 02/17/00 EXHIBIT "E" 14. If a party to this escrow unilaterally assigns or orders the proceeds of this escrow to be paid to other than the original parties to this escrow, such assignment or order shall be subordinated to the expenses of this escrow, liens of record on the subject property, and payments directed to be made by original parties together. If the result of such assignment or order would be to leave the escrow without sufficient funds to close, then you are directed to close nevertheless, and to pay such assignments or orders only out of the net proceeds due except for such assignments or order, and to pay them in the order in which such assignments or orders are received by you. You are to furnish a copy of these instructions, amendments thereto, closing statements and or any other documents deposited in this escrow to the lender or lenders and/or the real estate broker or brokers involved in this transaction upon request of such lenders or brokers. In the event of an assignment or transfer or interest by operation of law, with or without the approval or consent of any or all of the parties hereto, you shall retain the right to deduct any and all escrow costs, fees and expenses provided for herein from said assigned or transferred funds, properties or rights, said assignment or transfer notwithstanding. 15. If there is no written activity by a principal delivered to this escrow within any six month period after the time date as set forth in the escrow instruction or written extension thereof, your agency obligation shall terminate at your option and all documents, monies or other items held by you shall be returned to the respective parties entitled thereto less fees and charges herein provided. 16. If any check submitted to escrow is dishonored upon presentment for payment, you are authorized to notify all principals and/or their respective agents of such nonpayment. 17. These instruction may be executed in counterparts, each of which shall be deemed an original regardless of the date of its execution and delivery. All such counterparts together shall constitute one and the same document. 18. The parties to these escrow instructions authorize you to destroy these instructions and all other instructions and record in this escrow at anytime after five (5) years from date of close of escrow. AGENCY: LA QUINTA REDEVELOPMENT AGENCY, a public body corporate and politic Executive Director SELLER: LA QUINTA HISTORICAL SOCIETY, A California Not for Profit Corporation 029 02/17/00 EXHIBIT "E" RECORDING REQUESTED BY: La Quinta Redevelopment Agency WHEN RECORDED MAIL TO: La Quinta Redevelopment Agency 78-495 Calle Tampico La Quinta, California 92253 GRANT DEED DOCUMENTARY TRANSFER TAX $0.00 FREE RECORDING REQUESTED Essential to Acquisition by the Redevelopment Agency of the City of La Quinta, California See Govt. Code 6103 FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, LA QUINTA HISTORICAL SOCIETY, A CALIFORNIA NOT FOR PROFIT CORPORATION hereby GRANT(S) to the LA QUINTA REDEVELOPMENT AGENCY, A PUBLIC BODY, CORPORATE AND POLITIC all right, title and interest in and to the real property and all right, title and interest in and to the improvements pertaining to the realty which are attached or affixed in any manner to the following described real property (Exhibit "A") attached hereto and by this reference made a part hereof, which either generally or for purposes of this deed are part of that parcel of real property in the City of La Quinta, County of Riverside, State of California, as described as follows: SEE EXHIBIT "A" ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF Grantor for himself, his heirs, representatives and assigns covenants and warrants that: 1) Grantor is the sole owner of the itemized Improvements Pertaining to the Realty conveyed by this Grant Deed free from all liens and encumbrances, and 2) Grantor will defend the title and quiet enjoyment of the real property described above, including all Improvements Pertaining to the Realty, against all demands and claims of all persons. Date Date: State of California) County of ) On before me, LA QUINTA HISTORICAL SOCIETY, A CALIFORNIA NOT FOR PROFIT CORPORATION BY: BY: personally appeared 0 personally known to me or O 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 the instrument WITNESS my hand and official seal. (SEAL) Signature: CAPACITY CLAIMED BY SIGNER O INDIVIDUALS O CORPORATE OFFICERS O PARTNERS O ATTORNEY -IN -FACT O TRUSTEE(S) O SUBSCRIBING WITNESS O GUARDIAN/CONSERVATOR O OTHER: SIGNER IS REPRESENTING: (Name Of Person(s) Or Entities) Print Name Commission Expires 030 EXHIBIT A LEGAL DESCRIPTION LOTS 10, 11, AND 12 IN BLOCK 133, SANTA CARMELITA AT VALE LA QUINTA, UNIT #14, AS PER MAP RECORDED IN BOOK 18, PAGES 82 AND 83 OF MAPS IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY 031 J hN;2'.-"�;M-+ j- - L rr.... r.,.--�c..c co -.. -.- 0 Fidelity National Title Company PRELIMINARY REPORT !,^ response to the application for a policy of title insurance referenced herein, Fidelity 1Vational Title Company hereby reports that it is prepared to issue, or cause to be ssue c, as of the date hereof, a Policy or Policies of Title Insurance describing the land t: e estate or interest therein hereinafter set forth, insuring against loss which, may be s.asta;.�ed by reason of any defect, iien or encumbrance not shown or referred to as ar Exception below or not excluded from coverage pursuant to the printed Schedules, Conditions and Sripularions of said Policy forms_ ,,,-rs printed Exceptions and Exclusions from the coverage of said Policy or Policies are set forth in Exhibt A attached. Copies of the Policy forms should be read. They are available from the office which issued this report. /his repow (and any supplements or amendments hereto) is issued solely for the purpose of f?ciiitating the issuance of a policy of title insurance and no liability is assumed hereby i`ie is desired that liability be assumed prior to the issuance of a policy of title insurance, a Einder or Commitment should be requested. i.e Policy;s? of title insurance to be issued hereunder will be policy(s) of Fidei..ty National Insuranca Company, a California corporation. Please read the exceptions shown or referred to below and the exceptions and exclusions set forth in Exhibit A of this report carefully. The exceptions and exclusions are meant to pro vide you with notice of matters which are not covered under the terms of the title insurance policy and should be carefully considered. It is important to note that this preliminary report is not a written representation as to the condition of title and may not list all tens, defects and encumbrances affecting title to the land. a�- Countersigned , FkWft Ntdorwl Tido CampwV er fir j�pfJ11�IA°� / CSEAL ATTEST ( p 032 Fidelity _National Title Company SC1 E. Vana?rbi!t :Vay. Snore 4;400 • San 3ernara:no, CA 924CP PRELIMINARY REPORT ORDER NO.: 534724 71TI ; OFFICER: Brian Smith Fax (909) 890-3609 TO: Foresite Escrow 41995 Boardwalk #G-2 Palm Desert, CA 92260 A 7 `N: Lair.e YOUR. REFERENCE.: 2-30228 SHORT TERM RATE: Yes PPOPERTY ADDRESS- 77885 Avenida Montezuma, La Ouinta, California EFFECTIVE DATE: December 30, 1999, 07:30 A.M. The farm of Pr•Iscy or Policies of title insurance contemplated by this report is: Cal,-orr-Ja Land Title Association ;standard Coverage Policy - 1990 THE ESTATE OR INTEREST IN THE LAND HEREINAFTER DESCRIBED OR REFERRED TO COVERED BY THIS REPORT IS: A Fee 2. i l-ILE TO SAID ESTATE OR INTEREST AT THE DATE HEREOF IS VESTED IN: La QLtnta Historical Society _. THE LAND REFERRED TO IN THIS REPORT IS FITUATED IN THE CITY OF LA O.UINTA, IN THE COUNTY OF RIVER_IDE, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS: SEE EXHIBIT "ONE" ATTACHED HERETO AND MADE A PART HEREOF JK',iK 01;-21/200C 033 Order No. 53 =%2_ EXHIBIT "ONE" Lcts 10, 11, and 12, in Bicc : 133, Santa Carnieiita at Vale La Quinta, Unit " 14, as per .,Map recorded in Bock 13, Pages 32 and o3 cf Maps, in the office o� t ,P cur:t, Recc- 'er of said County- 0 034 ;Continued) Rider No 53 - 724 AT THE DATE HEREOF, ITEMS TO BE CONSIDERED AND EXCEPTIONS TO COVERAGE 1N ADDITION TO THE PRINTED_ EXCEPTIONS AND EXCLUSIONS IN SAID POLICY FORM .y J rDULD BE AS FOLLOWS: ? . Property taxes: which are a lien not yet due end cayabie. including any assessn'e is ccllectec with taxes to be levied f.r the fiscai year 2000•2001. 2. Property taxes, including any persi;nal rprcrerty taxes and any assessments ccllecr?zl with taxes, for the fiscal year 1999-2000, Assessor's Parcel Number 773-101-C)o 1 2. Code Area Number: 020016 1st installment: $21.39 Delinquent 2.1 Penaity 2nd Installment: $21.39 Open T Land: $39,722.00 improvements: $35,648.00 Exemption: $75,37.0 Personal Property: $0 Bil! rJo,: 000439553 3- Supplemental assessment for 1 999-2000 Bill No.: 005972992 1 st Installment: "55.73 Must be paid by: December 10, 1999 2nd Installment: $55.73 Must be paid by: April 10, 2000 4. The lien of supplemental taxes, if any, asses::ed pursuant to the provisions of Chapter 3.5 (Commencing with Sectior. 75) of the Revenue and Taxation code of the State of California_ 5. Water rights, claims or title to water, whether or not disclosed by the public records. 6. Easement(s) for the purpose(s) shown belov. and rights incidental thereto as granted in a document. Granted to: Southern Sinrras Power Company Purpose: aerial and un�erground electric structures Recorded: October 9, 19/25, Book 254, Paye 471, of Official Pecords Affects: The exact location and extent of said easement is not disciosed c` record. 7. Covenants, conditions and restrictions (deleting therefrom any restrictions indicating any preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status or national origin) as set forth in the document Recorded: January 7, 1965, Book 3895, Page 215. of Officiai Record::, Said covenants, conditions and restrictions provide that a violation thereof shall not defeat the lien of any mortgage or deed of trust made in good faith and for value- 035 TC-%iS 'C ,n:irued) Order !-.'). , . _'T 4 8. A Notice of Exisv-q Buildings: Earth(juake �aiazard, recorded September a. 19 !nstrument Nc. 310E21. Reference is made said document for fu)i particulars. 3. A dCed of crust to secure an in;ebtedress +n t!'.8 anrcunt shov.n L3iow and anv obllgvions-ecured thereby Amoun t: 5 1 so, 000, 00 Dated: r_pril 1 1993 Trustor: La Quinta Historical Society TruMe: Cornmonweaith Land T'L;e Company, a California CorPlora;cOr; 9eneficiar•/: Cimme.- Family Founcation '_oan No.: Reco,'ded: ADrii S. 1 ?9$, InstrumentlFbe No. 134993, of Official Recc•rds J. Tnss Company will require the following ducuments for review prior to the issuance of any title assurance predicated upon a conveyance or encurnorance by the corporation. named 'below. Corpoi ation: La Quinta Historical Society, (a) A copy of the corporation. BY -Laws and Articles of Incorporation. (b) An original or certified copy of the Resolution authorizing the tra^saction contemplated herein. (r.) 11, the Articles and'or By -Laws require approval by a "parent' organization, a copy of the Articles and By -Laws of the parent. The ri- ht is reserved to add requirements or additional items after comp!etion of such raVIPW. 11 . This Company will require the following doournents for review prior to the issuance cf ar,y title assurance predicated upon a conveyance or encumbrance by the corporation nameC below. Corporation: La Quinta Redeveiopment Agency, (31 A copy of the corporation By -Laws and Articles of Incorporation. (b) An original or certified copy of the Resolution authorizing the transaction contemplated herein. (c) if the Articles andior By -Laws require approval by a %arent" organization, a copy of the Articles and By -Laws of the parF nt. The right is reserved to add requirements or additional items after completion of sut;h .Pview. END OF ITEMS 036 ITEMS: (Continued) Order No. 514724 Note 1. Property taxes for the fiscal year shown, below are PAID. For proration purposes me amounts are: Note 2. Note 3. APIN': Fiscal year 1 st Installment* 2nd Installment: Exempticn: Land: Improvements: Code Area: 5iii No.: 77' 1 101.00' -4 1999-2000 $22.80 FAiO 922.80 PAID t 36,667 $-6,667.00 $0.00 020015 000439555 Property taxes for the fiscal year shown below are PAID. For proration purposes ,ne amounts are: APN: Fiscal year 1 st Ir.staliment:. 2nd Installment: Exemption: Land: Improvements: Code Area: Bill No.: 773.101-002-3 1999-2000 $22.80 PAID $22.80 PAID $40,741 $40,741.00 $0.00 020016 000439554 There are NO deeds affecting said land, recorded within six (6) months of the date of this report. Wiring instructions for FIDELITY NATIONAL TITLE INSURANCE COMPANY, INLAND EMPIRE, California, are as follows: Receiving Bank: Bank of America 1850 Gateway Blvd. Concord, CA 94520 Federal Routing No.: 121-000-358 Account Name: Fidelity National Title Insurance Company Title Trust Account, Inland Empire Account Number: 12356-19437 Title Order No.: 534724 TITLE OFFICER: Brian Smith Fax (909) 890-3609 This information is to be included in the wire text. Note 4. Section 12413.1, California Insurance Code became effective January 1, 1990. This legislation deals with the disbursement of funds deposited with any title entity acting in art escrow or subescrow capacity. The law requires that all funds be deposited and collected by the title entity's escrow and/or subescrow account prior to disbursement of any funds. Some methods of funding may subject funds to a holding period which must expire before any funds may be disbursed. In order to avoid any such delays, all fundings should be done through wire transfer, certified check or checks drawn, en California financial institutions. Note 5. The charge where an order is cancelled after the issuance of the report of title, will re that amount which in the opinion of the Company is proper compensation for the services rendered or the purpose for which the report is used, but in no event shall said charge be less than the minimum amount required under Section 12404.1 of the Insurance Code of the State of California. If the report cannot be cancelled "no fee" pursuant to the provisions of said Insurance Code, then the minimum cancellation fee shall be that permitted by law. 037 ITEMS: (Continued) Order No. 534724 Note 6. California Revenue and i axavon Code Section 16668, effective !anuary 1, 1991, requires that the buyer in all sales of California Real Estats, wherein the Seller shows an out of State Address, withhold 3-1,'3% of the total sales price as California State Income Tax, subject to the various provisions of the lave as therein contained M Fidelity National Title 301 Fast Vanderbilt way • San Bernardino, CA 92408 WIRE INSTRUCTIONS Please wire all funds for: Fidelity National Title Inland Empire Division San Bernardino & Riverside Counties to: Bank of America 1850 Gateway Blvd. Concord, CA 94520 ABA #121000 358 Account #12356-19437 • Include Title Order Number • • Include Title Officer Name • 039 NOTICE ,F 'r�_JU 30UGHT. SOLO OR REFINANCED A HOME (RESIDENTIAL REAL PROPERTY) IN CAL;FORNIA BETWEEN JULY 1, 1939 HNC FEBRUARY 28. 1997, PLEASE READ THE FC.LLOb't 1 NG` Pursuant to a Settlement Agreement in a class action lawsuit filed in. the Super,or Cour fcr :os Angeles County, a settlement agreement has been entered into that provides uersons who bought, sold or refinanced residential real property in the State of CaMorna begs. ee^i J::ly 1, 1989 and February 28, 1997, with certaifi rights. If you are such a person and you are now engaged in an escrow transaction :with Chicago Title Company, Gateway Title Company, Benefit Land Title Company or F:de!it\l National Title insurance Company. you have the following rights. if one of these companies previously handled a residential escrow transaction for you ir;v;,ived residential real property in which a mortgage, promissory note, or similar debt instrument, repayment of which was secured by a duty recorded deed of trust, was fully pa;d, satisfied or discharged and a reconveyance of that deed of trust was executed and was delivered to one of those title companies for recording but was inadvertently not recorded, you have the right to request that a release of obligation or reconveyance be ecerjed in accordance with the terms ci the Settlement Agreement. To obtain this right you must' (1) Establish to the satisfaction of the title company that you actually closed an escro v%, between July 1, 1989 and February 27, 1997, which was handled by one of the above listed title insurance companies, in which a mortgage, promissory note, or similar debt instrument secured by a duty recorded deed of trust was fully paid, satisfied or discharged and a reconveyance of that deed of trust was executed and was delivered for recordation, tc the titre company that handled the prior transaction. Proof of said transaction shall be made by presenting a closing statement, preliminary title repor,, tit4a insurance policy or a paid escrow invoice which identifies you and the prior deed of trust; and (2) Request in writing the recording of a recom.eyance or release or obligation ;n the event that one inadvertently had not been previously recorded in the escro�-'v transaction previously handled by one of the above -named title companies. If you believe that you are entitied to benefits as a class member, please send your written requests or any questions conceming the foregoing to Janet Borack, Legal Department, Fidelity National Title Insurance Company, 17911 Von Karman Avenue, Suite 300, Irvine, California 92614, EXHIBIT A AMERICAN LAND TITLE ASSOCIATION R.F-SiCEN'riAlL TITLE INSURANCE POLICY (6-1.871 EXCLUSIONS 4 11 "a 7­ 11�4 1 oe, Atoff.-Y., 1— 14 r" I." :.'W": I .."cr. • Trig rc�.. A.Y.1 T`l .;.n ]Q,, h L mA JI a I.. III: z­l ­r­ •q l0y­ ti. rr Ct SCHEDUla 8 EXCEPTIONS CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY - 1990 EXCLUSIONS FROM COVERAGE 11 Jrn 'tw nt It— "AKy V4 frm Z0MvvvV nW r Y br.:I It to ad zc.."I;—. .. . .­­ C. 01 .... .. ....... o� '-:a ­ w C,­,trw ­,I� It- a,­­­ U V.a a, It. or of In"", ci It -.:..I Of -, wwvtrdl. nt I' — from 11 V 0' 11191) It. P-1w. a: Dm- us *'ekiI. vc .,I v�vlj'ls -..PC !a ItIt, -yt. thor . V­ "t IN :-I, .." .,, ­.ftvvb .... I"'. a v'6^.n w C­ ­­­3 P,,bid inr4. . u.K* at ....... .. "... 1-1%., " -I- -­'�� t._t rig 0� lc0ow In the putbl: IwWlas u,t'Q­ Marc. c*,,arx- _v _t,-j n" xtavr.d A,4f to e. of IF- rIqt,f,; at 3 -!+Wf kN)VA*dQQ <.tf­d' w M-d 0, avid by .1. .,-,.d f{bR.M II kno'", I* fil• '.omq'yW' ".It Iftwo"d -n tr* A'W' -41­4 Ci.6M;Q`,t XWO M' Wi -10-1 :Q :td' (;.JMD­y by I. ­01IN A :13- 1 41019q. 10 1- 0, 0lb"Qj_t to :!•t. of (1-AII4 "1 01 da,,,o" notn-l- b— .-J 7­1 ­'. !. :h. ­111. - ool,cl 4 b'I_.)u_ a: J Poucy. Lw the WLA*f), or folly. of %j .,.,QIV ApWK;*oW d_j b.ansme 1>•.v. al Tho tl.. 'i, hr.en Ih. to,'4 I, lnv*d"'t w ­AclabibvY 07, TC­ "m ni 11`4 _4_1ad by CC- _~ Ittairtum, aA . b".4 "g." rlulhm Widma I— d. Any wme" frnaa out of tilo trw*oeWn unditV n o, qv at ths 11AMWCoon "CilitV Tno iitowi; of T:w Inured Lw4,,, ty j..­ is of - 9fuDicy, VIAN9 Intotvf WV. c. off" LyCClJKW-' liql4l. I— SCHEDULE 8 EXCEPTIONS FROM COVERAGE .4.vat 1"" (w-d ter Coatowtv vd I%*( psy ratty. worry'r I-, u -p-m­ PART I v. -A ;V'ay_ as sami'm fiw% *v r..,Www at _vr�'-y Cho, ­C.N of, rJo'l tICOWTV or IN :in, wbbc rueDrd.. pu ­i- by - vilowc y7--" w rc&tow of skch woott"rig7c wrtOlhw c. -wt .1'4wn by rh. p.,4it 10"d.. a, 11-114 se Ml vw-rt by it* wbi-c renvi- t,,,t -1i0, -Jd 60 -W 11 -',' :.-w on a, w-t, n,." M _-i�j by -n b,­f, TtImiool " I II­I� Czs' wvm,,IIC w wicumaramm, cI '14'a %II­_r. _r'c'\ !tw o'.bL•: I-C. Qs 4 Um4fqw, -, 1--oWlimir i. C.-Wwy 6-.. OwTog- zn it 1 -1-1 .,­" l-Jd &4010-41. ICI-4 -r.Ch Z. 10 xr4.n 'jy III. I­56"x,14. rc~Q am,- t.) riMmI,j.u- u ­r.pt,o­ .1i , u..". .0 rrr ji). 1V. oy je,) vo aMww by th^ iv,ae raCtoidt. 041 EXHIBIT A :CcNTirr.,- I AMERICAN LAND TITLE ASSOC!A'7"ON LOAN' POLICY 110.17-92) 'A'ITH A.; T.A. ENDORSEMENT ;ON 1 COVERAGE AND ArAER:;�'AN LAND FITLE ASS.;-ZIATiCN I.EASEF-CLD LOAN POLICY (10-17 -92) WITH A.L.T.A. ENDORSEMENT-FORNI I COVERAGE SCHEDULE OF EXCLUSIONS FRCFO COVERAGE :V- 0 01.:' lot I-- 7 fi-4:0 1.1-1c CO I'le 14, w IN, 1.4 a x" .10(". Of 'it a'. Of repyM fr.x, 2 K+­ M "A -147­I Ifcm 2 uy ALOr U Sqr.0 c".- 0 eakm. cc 3-3.4 IV- 1. 1.3 "s. ol'b" a, C)r,. of 1101" -NIA- It_iba, ."s t -, '1KI-'-j "il or 1_t-enf Jd t,- r.-,:eq V,1-: it hasu :eN ..k,a wt-w.t ltrWwwoqe fl.j­g, -i­ ..bk ;_vc< ;It NKA v tw tv :re, -,--I ;N_ jc. r. .1i' I'll %,11k 0--on d le. -meao-d had Abd :I_ •-A.V. P, d- 0 Q...,­ :t-. <Ipr -.1. i-irt, -J..-d by ?­4 3­1 t.wp. 0M.11w, l"Il'i I- labor ml 10 IN A,AmLam CVdr triu., !wxeid tl) f1W Ldr.) wliiah . ct-f-iod rP and ­v­ f'-':'d p WW* " .n "N' by &I '?.. A L%gli of Nficry Mg if,"ec Rest d.efttid of If a -%-,I darr. wtvtt a- *,I w -'re of vo4clv &f ;.-*.% 14 11w, a" 109. of "'a.zo bank."10MY, IA. !,I%-, tM " bow n,,; .I, fr"i ­%.1vX`i!1q "AmIlria inn IM-i Of It- Iq- 1,... i 717.4.1 A :1 Arst. : 7 r. I rots .0 it- 4-1-Ni w "'.tAwo stOd""jen: or tw .'* 4r..veid LT It. d-111 '­mer,e -4t. ham t!,. t.vi". twne,, -.c tv- 0d frvWtfd, a ;41 nt :.,rr.,_-­4AtLor, to ^G.Tt :Xqw..* tC a AMERICAN LAND TITLE ASSOCIATION OWNER'S POLICY (10-17.921 AND AMERICAN LAND TITLE ASSOCIATION LEASEHOLD OWNER'S POLICY 110-17.92) SCHEDULE OF EXCLUSIONS FROM COVERAGE v­", Ir" -.- I ZPtI. 0, ::" ^ry old it. Z:ZIT .".a .v 1- v ..>Ml:twf -NO, ..., tIy ..- 01 (­.d­q zl,il eNiI,v1t44 to!AAO.'4 Sfid=orsna INerl, 4. tt^ 0.6'" to. 'M: v ­v f.-I-Ni a- "V..OM,r a 11 WI.M. 0! 2" r.P el.on CZ 7 I'- ­.­( ;KX I !.#­ 'of Ir.. -teii-m-, 01 .1 Vt I N ,wl I,.. . ­-Aot- . Al.-It-d -,03tlmil t'­ " -,M OMA of ;)ocs j"V., ­,"X 10 MA wvit M4 t I",C4 91 WCUMoranciN A*WtvQ I- . r.deOM 7 Jlpud t­ V.f4 •"I :he vibi. -a% 0, :,V. 6, 7I­ t tl,, kx.a,M xhwf Kai; %ew, t-ordmia n, iti. ow0ai: 1, 0. b. N,. ,,,v t2tlrvj wrapil rya o"w%111 2nid to Date .0 ?Nc�r _rout k-Adoe, cs o0w .-qwg: I-- f"ed -dzene*rit; (III mci' *­­ Ib Tree (somil4iny, fling fucor4ed im I!. CXIF4.c I-- ,1e"A� Jed w. o_.4c"d w ­wj . tr� II.I ­N-d mairrierw bewm, -,-.d -Inds -I.. p-,." (: 1 ,N no!,)m cy dw.,as to -'- -s-1 14; "XN" w ­".d f.,Q.*qwd to 0.0k at 1"A.:y. d-Pq' "'Ntoi vw­" "'I 1- 5­ -.1 ..'.a Inioiew by It" ooattv. Any ti- Y,­h ztww okit *r TrA tramwi4am .­­q ... .......... !!i* reAcy. b, 4 the QLVM,- of tvido ,iQl­ I.-, thet . b_ M. :J Ir- lj.M,nC :he �,J.A G 'MOM ._V ­d by T!" C"', tCf,­*ae­ W fIRLIQUIlite !rgme!W: Or umeamgri ­ebinj the -vto air 'ww"t nej. -.4 ty INA 1, 0.11M -ftw4 The rorefee"fid uxwer "WAA ft-,M the %#'t. 'a) $a I1ANeV roicoid IN trigIrkimant or earmfi,, ,x Q.1 69 cIjch ro=dp-q^ to w.j4r -t- I. & g;.oM.- I. V A.i. t4c­!✓_. rr, e6vv4 A, -"A paiIav iXni& r.w. be to iptfad Nitt- V14ftdV4 C-Saa C, COmM4d CowWatto. It, 4C*.w1n to -­e, ='Evauvww lysm 4.0cob- - id ;oy-som . %twad VVA set, tN�.d* ttiefcdo mo r4i SCHEDULE B EXCEPTIONS FROM COVERAGE -fM iO 0l leiili4gib (drW the ;44,4-y ­0 Mt.fby'. ?_ v or PART I -�V;- I- : L T 2r ':w ­.,poj I' my !,t­l % fliIWI 1'ae,. ­."').' ,�-re v, b,.b6l 'IN 1. 1), 1- _rj.- -^dd tw 1-l. -;rA a ­h V b.., weekq,od ty ;4tof.A in 'rdiror: at ­111414rf", M elowit-i, ."Ch NO c- -�.n of 0, bQvnjMy!,w., "'. 444. ."1 'Jrr­,,,. -en. "V6v yoousd 4,144cipa, aM: -9-4:r, Art not jr':­ !", Zt. P"t) • j."j. i,,i I:rpxunwtj waiing lairs. I,' - -vatw_n* o, - - r: %.- .., ". .­_ r. •:.wU4•`c6 iteeft't, (C) Watp :4&M^ or titte, is ^W,,. mr­. T7. 4, -01ia 's tt Ii'e wtiewn by Tee MA*. -­" 042 EXHIBIT A (CONTINUED) ArAERICAN LAND TITLE ASSOCIATION HOMEOWNER'S POLICY OF TITLE INSURANCE FOR A ONE -TO -FOUR FAMILY RESIDENCE (10-17•98) t EXCLUSIONS ,,:;,t,,t r ., �L cx:,•p•r.:.,.:. .. n:1 .w;, ,In E, Vpr ,v.. „e1 •rr<,arl :.7.«s: :oa;:, nptC at:or:wvv' ry.Y.a. Jrb nao.+r«.•c r..,t,iNw t•0m.• .r r ... , y,: r-r ... �• :--h �l ..: — law u• �•!w:. •nn..!.t •�Ml�,,hnr, 1N.,: . .. ^..,.1. •4 . .. .,,.,(. r. ,y'e .. ,�.v11.,1dr l•: :.I.G r. � ','xr wnl a. rrpRp rw,araa rf ',M.Cw •a' L',0 r,q.rttan C>.•. .. •.rya.... !Nr . ,,at•.� ka--v0.:it .he Puler Jna.• .. t 'r.. •'Jv.. r)« JosCnbed n, Covwed Ri-k 14. t¢ :O, 17 or 24. ..« .r.da v;'w ' ey,.:r:Y- •='n,e'.Jra. •} .yly put pf tt.M. :o "!maRlruCKid to J404tdar1C0 vvrt" )0na -fr, £ao J^, iw,wl M; MVIV to VKN OhOnv Ot b rlWlnd C.04" d WICV of tha A !rw Varer ome. T—.rC.r. :4 'aan r.. I.✓r]L.:u)rlamnr.: i. fry4uR: r ..'onr.. f. a..oar.t) !I -:,•Ira JD"Ta:r,!h0 H1tUt %Ae,Ida n!fw po,Cv OAw; 0t �. r- .u•: o :.,h'.J•,•wC Wfi -' ,A. J *tY DJt.. wd is rar4r* a. Yo d YW blMttR ttv. L+v+d w.trplt r.,.,vfrMj cl Ire 1:1+Rv .,. •r.;a .v. ;a.rxwJ. J,hy,.M. a ..gru4 ro b: v.:a:, .v!„a rMr ve •:... ,M.... .r..:..yrr rave.. h. tt a 7w Known to YOI, ,a :N o t'ol,nv E),,•. tw,f ',o, 'o '.:.. :N"_ - rr:.. -a...v ,r. •t.. N (tr %:in.r .i Jtf., i• M , rA•.,It u. ,,o kw to y ar: Or a. •t,al Ssn .w „M Orr 1Ar f'olK:r .: ]:t• •'rR dC^� 'q! M••vf ;t n rnvw vn .I. -:,,,Owe ,r .:e.•...} t..� 7 4 d, iL, [S. 24 a i9. r:Yw.. to pay -'. for Vc<w T,nw. L ,vR wt -4N. » 14 •W%V Lard ailwdr :re elea vp.uha. Jl1 ysnr.vd a,d tof-r..d- A. aM b. ,r vhlrtR, so". d —awp Yvs ,fir tu,e.h ttla LmC, 1 Yva Ew• yr n dow not tlnet rM ccvRapv d,w ,.L,,n Ir, ':ovwnd ^%,rn t , RESIDENTIAL TITLE INSURANCE POLICY ONE -TO -FOUR FAMILY RESIDENCE ENHANCED VERSION 0997) EXCLUSIONS ..t^.:. •- .. „ :....pt, ,r• ;Y'..r).dw ('., rb, ,vw net ,rra,/M '9""t :ORS, C0414. m MY4 'w 4 and nRp— rhR,ItM ho", . ., r.r ,.,. Sul. o pOv,r, ..� T•• ro,<r� v,., } •,01Jtion Vt N.r Iaw a ftOvaf nmMl Iw)ulahM ..rr C. .. w. .. .. r i ,1C•av .r....v,r ..... cr fhw a,,••yrsm.wM Ct tl.wM ma(Iwa Xt1Ch Dpprr! ,rr ,tm dlb�e .:_.. .,,_.,. r,,. r,m:: •_.• .rv.ge d+'nyw,r •u rtwrn )� � r,:d ?. band 1& of l:Ovr.d Tale tiht+. -94 ROWtS ,n MO WbbC r�da •)A fM POtK1 Om4, o, br.ar !o t1e Pli" V-. aM R bn6rC dt rW d YOU Wp gftt trw IJttd wttratlr J T,•la T,`.ccs +. thot aw-mod..Ift—d' or .7 d .a tv vou: u truf wr kwown to vou. bat ,.,t to : % on !- Fe1,av Date .,.y-.,, 1 ..a ar c•.w m •• r.,•ord.: :tyt i •h R !ia 3twr ..av nnw 001, erw policy Cat. !t.. SaM rc::,r, .r ov„ar- y ...4.: .•. tb, 17 and t•1 ul ':ovw d T,t)+ ,.4f. R. Pal- to o.Y va)uw tea y.w. •.n* 5 La t w e tyM. ia) to env Iar•C -md- it. 1CtwdUtw A or (Dt m s1l.wfa, :AUIy{, w vvaf:VNCn That ,?l�lr t'v..:, .. 11— ..ft' t00n dow ,pt bMc :M ro r...y. do.crrhwd to :!«Mc j am 1?w ]t • �„ •.,,..r i.�) :.11n 1rrRw. tvrtart: 043 ,a r le 0 1 L 0 78 .� •r _ i 001--Wvwwa W= zw4=VN "-fa(Im moo* mm"w y a" X+ ARAWN ou sa m m ; q = v e mosw= A!fffa8wpqROWgw*40AM•ama"aoft 044 11, "itz EXHIBIT B OPERATING AND USE AGREEMENT THIS OPERATING AND USE AGREEMENT is made and entered into this day of February 2000, by and between the La Quinta Redevelopment Agency, a public entity, hereinafter referred to as the "Agency," and the La Quinta Historical Society, a nonprofit corporation herein referred to as the "Society." WHEREAS the Agency is in the process of acquiring certain Premises and improvements located at 77-885 Avenida Montezuma in the City of La Quinta ("City"), particularly described in Exhibit "A" attached hereto and incorporated herein by this reference (the "Premises") in Project Area No. 1 for the purposes of rehabilitating and ultimately expanding the Premises as a public museum pursuant to the authorization in the Redevelopment Plan for expenditures on cultural facilities; and WHEREAS the Agency desires that these properties be maintained as an historical museum by the Society; and WHEREAS it is contemplated that the Agency shall continue to own the Premises during all renovation and expansion construction phases and that the Society shall operate the facility in cooperation with the Agency pursuant to the terms of this Agreement; and WHEREAS the Society has operated the site previously and sponsored related programs since February 13, 1994; 1 045 NOW THEREFORE the parties hereto agree as follows: 1. TERM This Agreement shall be for a term of one (1) year, commencing on March 15, 2000 and terminating on March 14, 2001. 2. RENEWAL This Agreement shall be automatically renewed each year unless either party gives a minimum of thirty (30) days written notice of intent to terminate. 3. RESPONSIBILITIES OF THE LA QUINTA HISTORICAL SOCIETY During the term of this Agreement, the Society shall provide the resources necessary to: a. Operate the Historical Society Museum free of charge to the public a minimum of twenty-seven (27) hours per week for public visits from October through May of each year (hours of operation: Wednesday — Saturday, 10:00 a.m. — 4:00 p.m., Sunday, 1:00 — 4:00 p.m.) and a minimum of 12 hours for public visits during June and September (hours of operation: Friday -Sunday, 10:00 a.m. — 2:00 p.m. b. Provide all necessary indoor staffing and janitorial services; 2 046 C. Secure and display significant historic collections of photographs, furniture, books and other materials which accurately portray the historic development of the City of La Quinta and the Coachella Valley; d. Promote the public use of these facilities through local and appropriate regional media; e. Provide general liability insurance and exhibit insurance to the satisfaction of the Agency; f. Provide educational programs such as speakers and field trips for students and adults; g. Pay for all utility costs associated with operation of museum and grounds (e.g. water, phone, electric, sewer, cable television, gas). 4. RESPONSIBILITIES OF THE AGENCY During the term of this Agreement, the Agency, through its appropriate agencies, shall provide the resources necessary to: a. Repair interior and exterior damage and/or breakage to said Premises and structural contents thereof (not to include damage to exhibit materials); b. Provide maintenance of Premises including landscaping and parking lot areas; 3 047 C. Secure fire and property liability insurance or self-insurance. The property insurance shall not include coverage for the exhibit materials. 5. USE OF PREMISES The Premises shall be used for no other purpose than display of historic collections, administration of education programs and Society sponsorship of meetings for fundraising or to conduct official Society meetings, and to support operation of the museum and its goals without the written consent of Agency, and Society shall not allow the facility to be used by any other individual, group or organization for any purpose without express written consent of Agency. The use and operation of the Premises by the Society shall be in accordance with all ordinances, resolutions, rules, regulations and laws of the City of La Quinta and any Federal, State or local governmental agency of competent jurisdiction. 6. ALTERATIONS Society agrees not to make or allow to be made any change, alteration or addition to or in any of the Premises or improvements without first obtaining written consent of Agency. All such alterations shall be made by Society at its own expense and Agency shall be held harmless from any costs or liens as a result of such alterations or improvements. 4 048 7. CONTRACT ADMINISTRATION The individual from the Society designated to be the principal and representative for performance pursuant to this Agreement is: Its President or his/her designee. The officer of the Agency in charge of administering this Agreement is: City Manager or his designee. 8. TERMINATION After the initial one (1) year term, this Agreement may be terminated at any time by either party, with or without cause upon thirty (30) days written notice. 9. ACCESS Agents of the Agency or City may enter the Premises at any and all times for the conduct of municipal business or to inspect the Premises for compliance with the municipal code and other applicable laws, or in response to an emergency situation that imperils life, limb or property. 10. INDEPENDENT CONTRACTOR Neither the Agency nor any of its employees shall have any control over the manner, mode or means by which Society, its agents, or employees, perform the services required herein, except as otherwise 5 049 set forth. Society shall perform all services required herein as an independent contractor with only such obligations as are consistent with that role. Society shall not at any time or in any manner represent that it or any of its agents or employees are agents or employees of the Agency. 11. INDEMNIFICATION The Society shall defend, indemnify and hold harmless the Agency and the City, its officers, employees, representatives and agents, from and against any and all attorneys' fees for injury to or death of person(s), for damage to property (including property owned by the Agency) and for errors and omissions committed by Society, its officers, employees, and agents, arising directly out of or related to Society's performance under this Agreement, except to the extent of such loss as may be caused by Agency's or the City's own negligence or that of its officers or employees. 12. CALIFORNIA LAW This Agreement shall be construed and interpreted both as to validity and to performance of the parties in accordance with the laws of the State of California. Legal actions concerning any dispute, claim or matter arising out of or in relation to this Agreement shall be instituted in the Superior Court of the County of Riverside, State of California, or any other appropriate court in such county, and Society covenants and agrees to submit to the personal jurisdiction of such court in the event of such action. 6 050 13. CONFLICT OF INTEREST No officer or employee of the Agency shall have any personal interest, direct or indirect, in the Agreement nor shall such officer or employee participate in any decision relating to the Agreement which effects his personal interest or the interest of any corporation, partnership or association in which he is, directly or indirectly, interested, in violation of any State statute or regulation. The Society warrants that it has not paid or given and will not pay or give any third party any money or other consideration for obtaining this Agreement. 14. COVENANT AGAINST DISCRIMINATION Society covenants that, by and for itself, its heirs, executors, assigns, and all persons claiming under or through them, that there shall be no discrimination against or segregation of, any person or group of persons on account of race, color, creed, religion, sex, marital status, national origin or ancestry in the performance of this Agreement. Society shall take affirmative action to insure that applicants are employed and that employees are treated during employment without regard to their race, color, creed, religion, sex, marital status, national origin or ancestry. 15. INTEGRATED AGREEMENT This Agreement contains all of the agreements of the parties and all previous understandings, negotiations and agreements are integrated into and superseded by this Agreement. 7 051 16. AMENDMENT This Agreement may be amended at any time by the mutual consent of the parties by an instrument in writing signed by both parties. 17. SEVERABILITY In the event that any one or more of the phrases, sentences, clauses, paragraphs, or sections contained in this Agreement shall be declared invalid or unenforceable by a valid judgment or decree of a court of competent jurisdiction, such invalidity or unenforceability shall not effect any of the remaining phrases, sentences, clauses, paragraphs, or sections of this Agreement which are hereby declared as severable and shall be interpreted to carry out the intent of the parties hereunder. 18. AUTHORITY The persons executing this Agreement on behalf of the parties hereto warrant that they are duly authorized to execute this Agreement on behalf of said parties and that by so executing this Agreement the parties hereto are formally bound to the provisions of this Agreement. 19. SUCCESSORS AND ASSIGNS All provisions of this Agreement are binding upon any successors, assigns and representatives of the parties hereto and inure to the benefit of any successors and assigns of the parties hereto. 8 052 IN WITNESS WHEREOF the parties have executed this Agreement on the day and year first written above. ATTEST: BY: Agency Secretary APPROVED AS TO FORM: LA QUINTA REDEVELOPMENT AGENCY Executive Director Dawn C. Honeywell, Agency Counsel/City Attorney REVIEWED AND APPROVED: By: L4'6=4� President, La Quinta Historical Society 1\LAQUINTA\VOL1\SHARED\citymgr\BRITT\OPERATING AND USE AGREEMENTAOC 9 053 *-------------------------- : Metroscan / Riverside Owner :La Quinta Historical Society Site :77885 Avenida Montezuma La Quinta 92253 Mail :PO Box 1283 La Quinta Ca 92253 Use :C05 Off,General Office Buildings Plat :Santa Carmelita At Vale La Quinta No 14 Bedrm: BthF3H: / / Bldg SF: *--------------------------: MetroScan / Riverside Owner :La Quinta Historical Society Site :*No Site Address* Mail :PO Box 1283 La Quinta Ca 92253 Use :C24 Vacant,Commercial Land Plat :Santa Carmelita At Vale La Quinta No 14 Bedrm: BthF3H: / / Bldg SF: *--------------------------: MetroScan / Riverside Owner :La Quinta Historical Society Site :*No Site Address* Mail :PO Box 1283 La Quinta Ca 92253 Use :C24 Vacant,Commercial Land Plat :Santa Carmelita At Vale La Quinta No 14 Bedrm: BthF3H: / / Bldg SF: EXHIBIT A •----------------------------* Parcel :773 101 001 Xfered :04/08/1998 Price :$150,000 Full OwnerPh . MapGrid :849 F7 YB: Pool:No Ac: •----------------------------* Parcel :773 101 002 Xfered :04/08/1998 Price :$150,000 Full OwnerPh MapGrid YB: Pool:No Ac: •----------------------------* Parcel :773 101 003 Xfered :04/08/1998 Price :$150,000 Full OwnerPh . MapGrid . YB: Pool:No Ac: 054 The Information Provided Is Deemed Reliable, But Is Not Guaranteed. b O O 0 Q ci a s SVO/7mbf.76 —3a ap - V'OIWAV -- a ri s A •t "r ° � �� N � M 8� Q ° +n +O�7 ®` Q0 O.s ONYVAV'N— e --mop. --� 0 V'O/N3AV — - x •' c. � (y h1 ? h b i 1� 7 O © O \O O O Yo 79 � ,•� es fi J Yj e9 oS as .S •e +a 't7 h F/ LK •V J of e[ N �)/ 079 .. 0 VZOON3W— V'O/N3AV a W H N H U W I w IL 11 In N 055 J Yj e9 oS as .S •e +a 't7 h F/ LK •V J of e[ N �)/ 079 .. 0 VZOON3W— V'O/N3AV a W H N H U W I w IL 11 In N 055 W H N H U W I w IL 11 In N 055 ATTACHMENT 1 SUMMARY REPORT OF THE PROPERTY PURCHASE AND FINANCIAL TRANSACTION BETWEEN THE CITY OF LA QUINTA AND THE LA QUINTA REDEVELOPMENT AGENCY REGARDING THE PURCHASE OF THE LA QUINTA HISTORICAL MUSEUM Introduction The La Quinta Redevelopment Agency is proposing to purchase the La Quinta Historical Museum from the La Quinta Historical Society. The purchase would be funded through a loan from the City of La Quinta, which would be repaid from future tax increment revenue. The Museum property is located at 77-885 Avenida Montezuma in the Village of La Quinta in La Quinta Redevelopment Project No. 1. This document serves as the Summary Report for the financial transaction and has been prepared pursuant to Sections 33445 and 33679 of the California Health and Safety Code. It summarizes the proposed transaction, its redevelopment purpose, and the estimated amount of taxes involved. Summary When Project No. 1 was established in 1983, Section 33032 of the California Health and Safety Code provided that a blighted area was one that was characterized by, among other things, the lack of public facilities.' One of the pervasive blighting conditions was the lack of infrastructure and public facilities to service the Village. A second was depreciated property values due to declining commercial activity. The Village was and is the historical commercial center of La Quinta. Since 1984, the Agency has been addressing the infrastructure deficiencies, and investing in public, recreation and cultural facilities that attract local residents and visitors alike. The La Quinta Historical Museum provides a facility that houses La Quinta's cultural heritage. In 1994 the Historical Society purchased the property to preserve a historic 1 930's structure and to house a museum that focuses on local history. The Society, however, has not been able to raise sufficient funds to cover property debt service payments and operate and expand the facility. Agency acquisition of the La Quinta Historical Museum will ' AB 1290 later repealed section 33032. 057 ensure that the Museum remains available to the public and will allow for the eventual renovation and expansion of the facility. This action will also facilitate one of the City's and the Agency's economic development objectives of supporting cultural activities that generate additional visits to the Village. Total purchase costs are estimated to be $115,000. Approximately $106,000 will fund the property purchase with the remaining $9,000 allocated to environmental and boundary surveys, and closing costs. The City proposes to lend $115,000 to the Agency to facilitate this transaction. Non -housing revenues generated by Redevelopment Project No. 1 will secure Agency repayment of principle and interest. The loan note features a 10% simple interest rate but does not have a repayment term. Assuming a 10-year term, the transaction's total cost is projected to be $298,280 -- $115,000 of principal and $183,280 of interest costs. Project No. 1 tax increment revenue is currently encumbered to support other blight removal initiatives including improvements to Jefferson Street, Village infrastructure improvements, and the Washington Street Bridge widening. Revenue projections indicate that the Agency will have sufficient funds to repay the City loan during the next 10 years, after these existing obligations are satisfied. City revenues are sufficient to fund this loan, but projections indicate potential operations and capital fund revenue shortfalls in the next three to five years. Section 33445 of the California Community Redevelopment Law authorizes the City and Agency to establish this transaction when no other reasonable funding means are available to the community. MI ATTACHMENT 2 OPERATING AND USE AGREEMENT THIS OPERATING AND USE AGREEMENT is made and entered into this day of February 2000, by and between the La Quinta Redevelopment Agency, a public entity, hereinafter referred to as the "Agency," and the La Quinta Historical Society, a nonprofit corporation herein referred to as the "Society." WHEREAS the Agency is in the process of acquiring certain Premises and improvements located at 77-885 Avenida Montezuma in the City of La Quinta ("City"), particularly described in Exhibit "A" attached hereto and incorporated herein by this reference (the "Premises") in Project Area No. 1 for the purposes of rehabilitating and ultimately expanding the Premises as a public museum pursuant to the authorization in the Redevelopment Plan for expenditures on cultural facilities; and WHEREAS the Agency desires that these properties be maintained as an historical museum by the Society; and WHEREAS it is contemplated that the Agency shall continue to own the Premises during all renovation and expansion construction phases and that the Society shall operate the facility in cooperation with the Agency pursuant to the terms of this Agreement; and WHEREAS the Society has operated the site previously and sponsored related programs since February 13, 1994; 1 059 NOW THEREFORE the parties hereto agree as follows: 1. TERM This Agreement shall be for a term of one (1) year, commencing on March 15, 2000 and terminating on March 14, 2001. 2. RENEWAL This Agreement shall be automatically renewed each year unless either party gives a minimum of thirty (30) days written notice of intent to terminate. 3. RESPONSIBILITIES OF THE LA QUINTA HISTORICAL SOCIETY During the term of this Agreement, the Society shall provide the resources necessary to: a. Operate the Historical Society Museum free of charge to the public a minimum of twenty-seven (27) hours per week for public visits from October through May of each year (hours of operation: Wednesday — Saturday, 10:00 a.m. — 4:00 p.m., Sunday, 1:00 — 4:00 p.m.) and a minimum of 12 hours for public visits during June and September (hours of operation: Friday -Sunday, 10:00 a.m. — 2:00 p.m. b. Provide all necessary indoor staffing and janitorial services; K U60 C. Secure and display significant historic collections of photographs, furniture, books and other materials which accurately portray the historic development of the City of La Quinta and the Coachella Valley; d. Promote the public use of these facilities through local and appropriate regional media; e. Provide general liability insurance and exhibit insurance to the satisfaction of the Agency; f. Provide educational programs such as speakers and field trips for students and adults; g. Pay for all utility costs associated with operation of museum and grounds (e.g. water, phone, electric, sewer, cable television, gas). 4. RESPONSIBILITIES OF THE AGENCY During the term of this Agreement, the Agency, through its appropriate agencies, shall provide the resources necessary to: a. Repair interior and exterior damage and/or breakage to said Premises and structural contents thereof (not to include damage to exhibit materials); b. Provide maintenance of Premises including landscaping and parking lot areas; s 061 C. Secure fire and property liability insurance or self-insurance. The property insurance shall not include coverage for the exhibit materials. 5. USE OF PREMISES The Premises shall be used for no other purpose than display of historic collections, administration of education programs and Society sponsorship of meetings for fundraising or to conduct official Society meetings, and to support operation of the museum and its goals without the written consent of Agency, and Society shall not allow the facility to be used by any other individual, group or organization for any purpose without express written consent of Agency. The use and operation of the Premises by the Society shall be in accordance with all ordinances, resolutions, rules, regulations and laws of the City of La Quinta and any Federal, State or local governmental agency of competent jurisdiction. 6. ALTERATIONS Society agrees not to make or allow to be made any change, alteration or addition to or in any of the Premises or improvements without first obtaining written consent of Agency. All such alterations shall be made by Society at its own expense and Agency shall be held harmless from any costs or liens as a result of such alterations or improvements. 4 U6 7. CONTRACT ADMINISTRATION The individual from the Society designated to be the principal and representative.for performance pursuant to this Agreement is: Its President or his/her designee. The officer of the Agency in charge of administering this Agreement is: City Manager or his designee. 8. TERMINATION After the initial one (1) year term, this Agreement may be terminated at any time by either party, with or without cause upon thirty (30) days written notice. 9. ACCESS Agents of the Agency or City may enter the Premises at any and all times for the conduct of municipal business or to inspect the Premises for compliance with the municipal code and other applicable laws, or in response to an emergency situation that imperils life, limb or property. 10. INDEPENDENT CONTRACTOR Neither the Agency nor any of its employees shall have any control over the manner, mode or means by which Society, its agents, or employees, perform the services required herein, except as otherwise 5 063 set forth. Society shall perform all services required herein as an independent contractor with only such obligations as are consistent with that role. Society shall not at any time or in any manner represent that it or any of its agents or employees are agents or employees of the Agency. 11. INDEMNIFICATION The Society shall defend, indemnify and hold harmless the Agency and the City, its officers, employees, representatives and agents, from and against any and all attorneys' fees for injury to or death of person(s), for damage to property (including property owned by the Agency) and for errors and omissions committed by Society, its officers, employees, and agents, arising directly out of or related to Society's performance under this Agreement, except to the extent of such loss as may be caused by Agency's or the City's own negligence or that of its officers or employees. 12. CALIFORNIA LAW This Agreement shall be construed and interpreted both as to validity and to performance of the parties in accordance with the laws of the State of California. Legal actions concerning any dispute, claim or matter arising out of or in relation to this Agreement shall be instituted in the Superior Court of the County of Riverside, State of California, or any other appropriate court in such county, and Society covenants and agrees to submit to the personal jurisdiction of such court in the event of such action. 6 064 13. CONFLICT OF INTEREST No officer or employee of the Agency shall have any personal interest, direct or indirect, in the Agreement nor shall such officer or employee participate in any decision relating to the Agreement which effects his personal interest or the interest of any corporation, partnership or association in which he is, directly or indirectly, interested, in violation of any State statute or regulation. The Society warrants that it has not paid or given and will not pay or give any third party any money or other consideration for obtaining this Agreement. 14. COVENANT AGAINST DISCRIMINATION Society covenants that, by and for itself, its heirs, executors, assigns, and all persons claiming under or through them, that there shall be no discrimination against or segregation of, any person or group of persons on account of race, color, creed, religion, sex, marital status, national origin or ancestry in the performance of this Agreement. Society shall take affirmative action to insure that applicants are employed and that employees are treated during employment without regard to their race, color, creed, religion, sex, marital status, national origin or ancestry. 15. INTEGRATED AGREEMENT This Agreement contains all of the agreements of the parties and all previous understandings, negotiations and agreements are integrated into and superseded by this Agreement. 065 16. AMENDMENT This Agreement may be amended at any time by the mutual consent of the parties by an instrument in writing signed by both parties. 17. SEVERABILITY In the event that any one or more of the phrases, sentences, clauses, paragraphs, or sections contained in this Agreement shall be declared invalid or unenforceable by a valid judgment or decree of a court of competent jurisdiction, such invalidity or unenforceability shall not effect any of the remaining phrases, sentences, clauses, paragraphs, or sections of this Agreement which are hereby declared as severable and shall be interpreted to carry out the intent'of the parties hereunder. 18. AUTHORITY The persons executing this Agreement on behalf of the parties hereto warrant that they are duly authorized to execute this Agreement on behalf of said parties and that by so executing this Agreement the parties hereto are formally bound to the provisions of this Agreement. 19. SUCCESSORS AND ASSIGNS All provisions of this Agreement are binding upon any successors, assigns and representatives of the parties hereto and inure to the benefit of any successors and assigns of the parties hereto. 8 066 IN WITNESS WHEREOF the parties have executed this Agreement on the day and year first written above. ATTEST: BY: Agency Secretary APPROVED AS TO FORM: LA QUINTA REDEVELOPMENT AGENCY Executive Director Dawn C. Honeywell, Agency Counsel/City Attorney REVIEWED AND APPROVED: President, La Quinta Historical Society \\LAQUINTA\VOL1\SHARED\citymgr\BRITT\OPERATING AND USE AGREEMENT.doc 9 067 *------------------------- MetroScan / Riverside Owner :La Quinta Historical Society Site :77885 Avenida Montezuma La Quinta 92253 Mail :PO Box 1283 La Quinta Ca 92253 Use :C05 Off,General Office Buildings Plat :Santa Carmelita At Vale La Quinta No 14 Bedrm: BthF3H: / / Bldg SF: *--------------------------: MetroScan / Riverside Owner :La Quinta Historical Society Site :*No Site Address* Mail :PO Box 1283 La Quinta Ca 92253 Use :C24 Vacant,Commercial Land Plat :Santa Carmelita At Vale La Quinta No 14 Bedrm: BthF3H: / / Bldg SF: *--------------------------: MetroScan / Riverside Owner :La Quinta Historical Society Site :*No Site Address* Mail :PO Box 1283 La Quinta Ca 92253 Use :C24 Vacant,Commercial Land Plat :Santa Carmelita At Vale La Quinta No 14 Bedrm: BthF3H: / / Bldg SF: EXHIBIT A •----------------------------* Parcel :773 101 001 Xfered :04/08/1998 Price :$150,000 Full OwnerPh . MapGrid :849 F7 YB: Pool:No Ac: •----------------------------* Parcel :773 101 002 Xfered :04/08/1998 Price :$150,000 Full OwnerPh MapGrid YB: Pool:No Ac: •----------------------------* Parcel :773 101 003 Xfered :04/08/1998 Price :$150,000 Full OwnerPh MapGrid YB: Pool:No Ac: The Information Provided Is Deemed Reliable, But Is Not Guaranteed. 0 68 i/ $• .� sdonNb/39 $ ! 6R) I a • � 1� H � M �I 7 �� � b la y 4 a Odd6''AVN— Z 9 / / In ;A 0479 VO/N3AM -- ai s A �e[4� 1 l n Q � a �o O O ® , O M VO/N3Ad — a x .e �° .• N e O O M Q1 sro O - / of VO 79 / I•saa VGIN3A D' sgmv—� b Q\ b Y 4 v - r irM m M � M e .N N er .i J J V e[ - VZOON3N— r VO/N3AV tui I % H N H U W n a i i a e9 e5 eS Y g F/ 1 � O N O f�. MP O O O p O IQ O+� O O 1 O C q m ^ b IY 079 oro 4 lipo R '�iaMw�xx n e� Tiht 4 4 Q" COUNCIL/RDA MEETING DATE: March 7, 2000 Joint Public Hearing Between the City Council and Redevelopment Agency to Consider an Amendment to Two Affordable Housing Agreements By and Between the La Quinta Redevelopment Agency and Catellus Residential Group for the Property Located at the Northwest Corner of Jefferson Street and 481n Avenue. Applicant: Catellus Residential Group RECOMMENDATION: As deemed appropriate by the Agency Board. FISCAL IMPLICATIONS: None. BACKGROUND AND OVERVIEW: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Staff continues to work with Catellus Residential Group on the proposed changes to the Housing Agreements. At this time, these changes have not been finalized, therefore, staff and Catellus are requesting a continuance to the Agency meeting of April 4, 2000. FINDINGS AND ALTERNATIVES: Alternatives available to the Agency Board include: 1. Continue the public hearing to April 4, 2000; or 2. Provide staff with alternative direction. espectfully ubmitted, J rry H rman ommunity Development Director A rov d for Submission Thomas P. Genovese, Executive Director C:\Mv Documents\WPDOCS\ccih AHA Cat RDA.wpd