2014 - 31249 Adobe Holdings Notice of Subdivider's Non-Compliance W/ Req. to Const. ImprovmentsRECORDING REQUESTED BY
AND WHEN RECORDED RETURN TO: -
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
Attention: City Clerk
DOC # 2014-0093151
03/12/2014 03:39 PM Fees: $42.00
Page 1 of 5
Recorded in Official Records
County of Riverside
Larry W. Ward
Assessor, County Clerk &Recorder
"This document was electronically submitted
to the County of Riverside for recording""
Receipted by: CMORRIS
_II Exempt from recording fees pursuant to Government Code Section 27383
AF14;766-070-009, 010, 766-140-001 thru 766-140-039, and 766-150-001 thru 766-150-050
NOTICE OF SUBDIVIDER'S NON-COMPLIANCE WITH
REQUIREMENT TO CONSTRUCT IMPROVEMENTS: SUBDIVISION
IMPROVEMENT AGREEMENTS' BETWEEN CITY OF LA QUINTA AND ADOBE
HOLDINGS, INC;
VILLAGE AT CORAL MOUNTAIN SUBDIVISION PROJECT
(Final Tract Map 31249)
THIS NOTICE AND MEMORANDUM ("Notice") relates to Tract Map 31249,
which was recorded . on October 12, 2006, and the associated subdivision
improvement agreements (collectively "SIA") dated October 11, 2006 between the
City of La Quinta, a municipal corporation ("City") and Adobe Holdings, Inc. relating
to the Village at Coral Mountain Subdivision properties.
The Village 'at Coral Mountain Subdivision is composed of subdivided real
property located in the City of La Quinta, County of Riverside, State of California
generally known as Final Tract Map 31249, which property is more specifically
described on Exhibit A, Legal Description of the Village at Coral Mountain
Subdivision. Adobe Holdings, Inc. was responsible for the development of the
Village at Coral Mountain Subdivision, but is now insolvent. Pursuant to Resolution
No. 2003-094 and Resolution No. 2005-019, the Village at Coral Mountain
Subdivision was authorized for subdivision into eighty-five (85) residential building
lots subject to the satisfaction of the conditions for recording a final map, which
include the completion of all on -site and off -site improvements described in the SIA
for the Village at Coral Mountain Subdivision.
As a result of the insolvency of Adobe Holdings,. Inc., certain-, public
improvements required by the above referenced SIA, a listing of which are attached
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hereto in Exhibit B, have not been completed at, or in the vicinity of, the Village at
Coral Mountain Subdivision. The security posted by Adobe Holdings, Inc., was in
the form of a letter of credit, written by La Jolla Bank, which bank was subsequently
taken over by the FDIC, at which time the letter of credit was cancelled. Therefore,
the City is holding no security for the improvements.
For further information concerning the estimated time of completion of
improvements that are the subject of this notification, interested persons. should
contact the City of La Quinta's Public Works Director at the City of La Quinta, 78-
945 Calle Tampico, La Quinta, California 92253, telephone number (760) 777-7000.
Dated: Q,,y rA Z.o "- , 2014
By•
othy R. Jo a o
Public Works Dir or/City Engineer
City of La Quinta
Dated: 3/ l ( , 2014
By:
Susan Maysels
Clerk of the City of La Quinta
2 of 5
State of California )
County of Riverside )
On MancA / l ,2014 before me, 7e_/'p50_A6tnNotary
Public, personally appeared TIMOTHY R. JONASSON who,proved to me on
the basis of satisfactory evidence to be the person whose name is
subscribed to the within instrument, and acknowledged to me that he
executed the same in his authorized capacity, and that by his signature on
the instrument the person, or the entity upon behalf of . which the person
acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of
California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal. .
('seal)
TERESA THOMPSONI
Commission # 2030796
a •m` Notary Public - California z
Z Riverside County
.My Comm. Expires Jun 24, 201r
DOCUMENT:
NOTICE OF SUBDIVIDER'S NON-COMPLIANCE WITH REQUIREMENT TO
CONSTRUCT IMPROVEMENTS: SUBDIVISION IMPROVEMENT
AGREEMENTS BETWEEN CITY OF LA QUINTA AND ADOBE HOLDINGS,
INC. VILLAGE AT CORAL MOUNTAIN SUBDIVISION PROJECT (FINAL
TRACT MAP 31249)
C,
3 of 5
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
That certain property located in the City of La Quinta, County of Riverside, State of California,
described as follows:
Lots 1 through 85, together with Lettered Lots "A" through "H", inclusive, and
Lots "J" through "S", inclusive, as shown by Tract Map No. 31249, as filed in
Book 411, pages 23 through 27, inclusive, of Maps, in the office of the County of
Riverside County, California.
This legal description was prepared by me or under my supervision.�,`��-N .;
yNo sm.
Eric A. Nelson Date o iS j
P.L.S.5563 Exp.9/30/15 l /
N
�0�:
APN(s): 766-070-009, 766-070-010, 766-140-001 through 766-140-039, and 766-150-001
through 766-150-050
4- of 5
EXHIBIT B
LIST OF OUTSTANDING IMPROVEMENTS
Half width street improvements along the boundary of Tract Map 31249 adjacent to Avenue 58
including curb, gutter, paving, traffic control striping, signs, meandering sidewalk, multipurpose
trail, storm drain improvements, landscaping, etc.
5 of 5
FDIC
Federal Deposit Insurance Corporation
40 Pacifica, Suite 1000, Irvine, CA 92618 Division of Resolutions and Receiverships
April 1, 2010
CERTIFIED MAIL
RETURN RECEIPT REQUESTED
RECEIPT NO. 7009 2820 0001 4711 5100
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
Subject: 10185 - La Jolla Bank, FSB
La Jolla, CA - In Receivership
Closing Date: February 19, 2010
Claim Bar Date: 90 days from date of this letter
Standby Letter of Credit No. 24 issued at the request of Adobe Holdings Inc
Dear Sir or Madam:
The above -captioned institution (the "Institution") was closed on the Closing Date
referenced above and the Federal Deposit Insurance Corporation was appointed as receiver of the
Institution (the "Receiver"). Under the laws of the United States, the Receiver is charged with
the duty of winding up the affairs of the Institution. In order to achieve this goal, the Receiver is
given the right under 12 U.C. C. Section 1821(e) to repudiate undertakings entered into by the
Institution where it finds such undertakings to be burdensome and where such repudiation will
promote the orderly administration of the Institution's affairs.
The Institution's records indicate that you may be a beneficiary of a letter of credit as
referenced above. The Receiver has determined that the above-described letter of credit is
burdensome and that disaffirmance of said letter of credit will promote the orderly administration
of the Institution's affairs. The purpose of this letter is to inform you that the Receiver has
elected to disaffirm the above -referenced letter of credit to the full extent, if any, that is
represents an enforceable obligation of the Institution or the Receiver.
You may determine that the Receiver's decision to disaffirm your letter of credit gives
you a claim against the receivership estate. If so, you must file a Proof of Claim in writing,
together with proof thereof, by the Claims Bar Date referenced in the caption thereof. Under
federal law, with certain limited exceptions, failure to file claims by the Claims Bar Date
will result in disallowance by the Receiver, the disallowance will be final, and further rights
or remedies with regard to claims will be barred. A Proof of Claim form may be obtained by
calling (949) 208-6700.
If you have any further questions concerning the claims process, you may direct your
inquiry to the Receiver at the address provided.
Federal Deposit Insurance Corporation
as Receiver of
La Jolla Bank, FSB
N� � I "--/ �--
"A—
By: Thornton Brown
Title: Receiver in Charge
FDIC
Federal Deposit Insurance Corporation
40 Pacifica, Suite 1000, Irvine, CA 92618 Division of Resolutions and Receiverships
April 1, 2010
CERTIFIED MAIL
RETURN RECEIPT REQUESTED
RECEIPT NO. 7009 2820 000147115117
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
Subject: 10185 - La Jolla Bank, FSB
La Jolla, CA - In Receivership
Closing Date: February 19, 2010
Claim Bar Date: 90 days from date of this letter
Standby Letter of Credit No. 23 issued at the request of Adobe Holdings Inc
Dear Sir or Madam:
The above -captioned institution (the "Institution") was closed on the Closing Date
referenced above and the Federal Deposit Insurance Corporation was appointed as receiver of the
Institution (the "Receiver"). Under the laws of the United States, the Receiver is charged with
the duty of winding up the affairs of the Institution. In order to achieve this goal, the Receiver is
given the right under 12 U.C. C. Section 1821(e) to repudiate undertakings entered into by the
Institution where it finds such undertakings to be burdensome and where such repudiation will
promote the orderly administration of the Institution's affairs.
The Institution's records indicate that you may be a beneficiary of a letter of credit as
referenced above. The Receiver has determined that the above-described letter of credit is
burdensome and that disaffirmance of said letter of credit will promote the orderly administration
of the Institution's affairs. The purpose of this letter is to inform you that the Receiver has
elected to disaffirm the above -referenced letter of credit to the full extent, if any, that is
represents an enforceable obligation of the Institution or the Receiver.
You may determine that the Receiver's decision to disaffirm your letter of credit gives
you a claim against the receivership estate. If so, you must file a Proof of Claim in writing,
together with proof thereof, by the Claims Bar Date referenced in the caption thereof. Under
federal law, with certain limited exceptions, failure to file claims by the Claims Bar Date
will result in disallowance by the Receiver, the disallowance will be final, and further rights
or remedies with regard to claims will be barred. A Proof of Claim form may be obtained by
calling (949) 208-6700.
If you have any further questions concerning the claims process, you may direct your
inquiry to the Receiver at the address provided.
Federal Deposit Insurance Corporation
as Receiver of
La Jolla Bank, FSB
By: Thornton Brown
Title: Receiver in Charge
-FDI4
Federal Deposit Insurance Corporation
40 Pacifica, Suite 1000, Irvine, CA 92618 Division of Resolutions and Receiverships
April 1, 2010
CERTIFIED MAIL
RETURN RECEIPT REQUESTED
RECEIPT NO. 7009 2820 000147115094
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
Subject: 10185 - La Jolla Bank, FSB
La Jolla, CA - In Receivership
Closing Date: February 19, 2010
Claim Bar Date: 90 days from date of this letter
Standby Letter of Credit No. 25 issued at the request of Adobe Holdings Inc
Dear Sir or Madam:
The above -captioned institution (the "Institution") was closed on the Closing Date
referenced above and the Federal Deposit Insurance Corporation was appointed as receiver of the
Institution (the "Receiver"). Under the laws of the United States, the Receiver is charged with
the duty of winding up the affairs of the Institution. In order to achieve this goal, the Receiver is
given the right under 12 U.C. C. Section 1821(e) to repudiate undertakings entered into by the
Institution where it finds such undertakings to be burdensome and where such repudiation will
promote the orderly administration of the Institution's affairs.
The Institution's records indicate that you may be a beneficiary of a letter of credit as
referenced above. The Receiver has determined that the above-described letter of credit is
burdensome and that disaffirmance of said letter of credit will promote the orderly administration
of the Institution's affairs. The purpose of this letter is to inform you that the Receiver has
elected to disaffirm the above -referenced letter of credit to the full extent, if any, that is
represents an enforceable obligation of the Institution or the Receiver.
You may determine that the Receiver's decision to disaffirm your letter of credit gives
you a claim against the receivership estate. If so, you must file a Proof of Claim in writing,
together with proof thereof, by the Claims Bar Date referenced in the caption thereof. Under
federal law, with certain limited exceptions, failure to file claims by the Claims Bar Date
will result in disallowance by the Receiver, the disallowance will be final, and further rights
or remedies with regard to claims will be barred. A Proof of Claim form may be obtained by
calling (949) 208-6700.
If you have any further questions concerning the claims process, you may direct your
inquiry to the Receiver at the address provided.
Federal Deposit Insurance Corporation
as Receiver of
La Jolla Bank, FSB
By: Thornton Brown
Title: Receiver in Charge