SDCo Escrow Disbursement Request 01 (2017-06-05) Rev2SilverRock Development Company
Escrow Disbursement Request # 1
June 5, 2016
The undersigned, on behalf of SilverRock Development Company, LLC hereby
requests a disbursement in the amount, and on the date, set forth, pursuant to Golf
Course Realignment Funds Disbursement Agreement ("Agreement") dated May 18,
2017 between City of La Quinta ("City") and SilverRock Development Company, LLC
("Developer").
Total balance of available funds for disbursement: $2,000,000.00
Total amount requested for this disbursement: $116,152.20
Balance after this disbursement: $1,883,847.80
Disbursement instructions as follows:
■ Form of payment: Check
• Amount: $116,152.20
• Payable to: Urban Habitat Environmental Landscapes
• Mail to: Urban Habitat Environmental Landscapes, PO Box 1177, La
Quinta, CA 92247
Developer hereby represents and warrants to City that:
1. The requested disbursement shall be applied to pay costs in accordance with
the itemized payment request attached.
2. All costs shown in prior Disbursement Requests are authorized in the
Agreement, Developer has received valid conditional or unconditional lien
releases or waivers from all contractors, subcontractors and materialmen "
with respect to all payments made for work and materials if the work ,or
materials could give rise to a mechanic's or a materialmen's lien against the
Property, and Developer has no knowledge of any mechanic's lien claims
against the property.
3. The attached payment request is an accurate and complete statement of all
amounts previously paid or now due and all amounts expected to be incurred
in connection with the completion of the work.
4. All representations and warranties in the Agreement and the other
agreements and/ or documents executed by Developer with respect to the
Project are true and correct as of the date of this request as if made on as of
the date of this request.
No default by Developer remains uncured, and no event has occurred which, with
the giving of notice or the passage of time or both, would constitute a default by
Developer.
Date: June 7, 2017
Developer
Designated Representative
Robert S. Green, Jr.
PAYMENT APPROVED:
Steve Howlett, Facilities Director, City of La Quinta