2022 - 33336 WH Palo Verde 37, LLC - Assign. & Assump. from Palo Verde 37, LLC & SIA AmendmentMEMORANDUM
DATE:
TO:
FROM:
RE:
Please list the Contracting Party / Vendor Name, type of agreement to be executed, including any change orders or
amendments, and the type of services to be provided. Make sure to list any related Project No. and Project Name.
Authority to execute this agreement is based upon:
___ Approved by City Council on ___________________________________________
___ City Manager’s signing authority provided under the City’s Purchasing Police
[Resolution No. 2019-021] for budget expenditures of $50,000 or less.
___ Department Director’s or Manager’s signing authority provided under the City’s
Purchasing Policy [Resolution No. 2019-021] for budget expenditures of $15,000 and
$5,000, respectively, or less.
Procurement Method (one must apply):
___ Bid ___ RFP ___ RFQ ___ 3 written informal bids
___ Sole Source ___ Select Source ___ Cooperative Procurement
Requesting department shall check and attach the items below as appropriate:
___ Agreement payment will be charged to Account No.: _____________________
___ Agreement term: Start Date ________________ End Date ________________
___ Amount of Agreement, Amendment, Change Order, etc.: $____________________
REMINDER: Signing authorities listed above are applicable on the aggregate Agreement amount,
not individual Amendments or Change Orders!
___ Insurance certificates as required by the Agreement for Risk Manager approval
Approved by: ______________________________ Date: _______________
___ Bonds (originals)as required by the Agreement (Performance, Payment, etc.)
___ Conflict of Interest Form 700 Statement of Economic Interests from Consultant(s)
NOTE: Review the “Form 700 Disclosure for Consultants” guidance to determine if a Form 700 is
required pursuant FPPC regulation 18701(2)
___ Business License No. __________________; Expires: __________________
___ Requisition for a Purchase Order has been prepared (Agreements over $5,000)
January 13, 2022
Monika Radeva, City Clerk
Amy Yu, Associate Engineer
Assignment and Assumption Agreement and Amendment to Subdivision Improvement
Agreement for TM 33336 Palo Verde II
✔January 18, 2022
✔
To supersede SureTec Bond Number 4444997
Bond NO.PB03010408291
Premium: $5,841.00 / 2yr Term
SUBDIVISION IMPROVEMENTS
Parcel Map No.33336
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT, the City Council of the City of La Quinta has approved the final map for Parcel Map No_
33336 prior to installation of certain designated public improvements required by the Conditions of
Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462)
WHEREAS, the City Council ofthe City of La Quints, State of California, and
WH Palo Verde 37,LLC hereinafter designated as ("principal")
have entered into an agreement whereby principal agrees to install and complete certain designated public
improvements, which said agreement, dated 2021 and identified as
Parcel Map No_ 33336 , is hereby referred to and made a part hereof, and
WHEREAS, said principal is required under the terms of said agreement to furnish a bond for the
faithful performance of said agreement.
NOW, THEREFORE, we, the principal and PhiladQJr?hta lljdf,-mniLy Insurance; Company as
surety, are held and firmly bound unto the City of La Quinta hereinafter called ('City'), in the penal sum of
Four Hundred Sixty Seven Thousand Two Hundred* DOLLARS ($ 4fiT 262.OQ ) lawful money of
the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs,
successors, executor and administrators, jointly and severally, firmly by these presents_
* and Sixty Two and OW100
The condition of this obligation is such that if the above bounded principal, his orits heirs, executors,
administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep and
perform the covenants, conditions and provisions in the said agreement and any alteration thereof made as
therein provided, on his or their part to be kept and performed atthe lime and in the manner therein specified,
and in all aspects according to their true intent and meaning, and shall indemnity and save harmless the City,
its otiicers, agents and employees, as therein stipulated, then this obligation shall become null and void;
otherwise it shall be and remain in full force and effect.
As a part of the obligation secured hereby and in addition to the face amount specified therefore, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by
City in successiuffy enforcing such obligation, all to be taxed as costs and included in any judgment rendered_
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the
terms of the agreement or to the work to be performed hereunder or the specifications accompanying the
same shall in any mariner afki ct its obligations on this bond, and it does hereby waive notice of any such
change, extension of time, alteration or addition to the terms of the agreement or to the work or to the
specifications_
T Drive/CheddlSts —Forms & Applications/Standard Bond Form -Performance Bond -Labor & Materials Bond for Parcel Map
In witness whereof, this instrument has been duly executed by the principal and surety above named,
on December 16th , 20 21
WH Palo Verde 37, LLC
Principal
(seal)
Signa ureofPrincipal
Title of Signatory
Philadelphia Indemnity Insurance Company
Surety
(Seal)
5lgnatu urety
Martha Barreras, Attorney -in -Fact
Title of Signatory
19800 MacArthur Blvd_, Ste 1250
Irvine, CA 92612
Address of Surety
949 252-4425
Phone # of Surety
Martha Barreras
Contact Person For Surety
T DrivelCheckiists— Forms & Applications/Standard Bond Form -Performance Bond -Labor & Materials Bond for Parcel Map
ALL- PURPOSE
CERTIFICATE OF ACKNOWLEDGMENT
A notary public or other officer completing this certificate verifies only the
identity of the individual who signed the document to which this certificate
is attached, and not the truthfulness, accuracy, or validity of that document.
State of California
County of Orange }
On DEC 16 2021
before me, Gina L. Garner, Notary Public ,
(Here mien name arid 1: c oI the u. •cErr
personally appeared Martha Barreras
who proved to me on the basis of satisfactory evidence to be the person(w whose
name(s) islmm subscribed to the within instrument and acknowledged to me that
kip/she/t f executed the same in kis/her/their authorized capacity¢ieax and that by
Jdslherftak signature(* on the instrument the person*, or the entity upon behalf of
which the personH 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.
*my
GINA L, GD,RNI:fiWITNESS my hand and official seal. Notary Public - California
]orange County
Commission p 2361777
� 44% Comm, Expires Jun 18, 2025
Notary Public Signature (Notary Public Seal)
ADDITIONAL OPTIONAL INFORMATION
DESCRIPTION OF THE ATTACHED DOCUMENT
(Title or description of attached document)
(Title or description of attached document continued)
Number of Pages Document Date
CAPACITY CLAIMED BY THE SIGNER
❑ Individual (s)
❑ Corporate Officer
(Title)
❑ Partner(s)
W Attorney -in -Fact
❑ Trustee(s)
❑ Other
2015 Version vm w.NotaryClasses.com 800-873-9865
INSTRUCTIONS FOR COMPLETING THIS FORM
77us form complies with current California statutes regarding notary wording and,
if needed, should be completed and attached to the document. Acknolwedgems from
other states may be completed for documents being sent to that state so long as the
wording does not require the California notary to violate California notary law.
• State and County information must be the State and County where the document
signer(s) personally appeared before the notary public for acknowledgment.
• Date of notarization must be the date that the signer(s) personally appeared which
must also be the same date the acknowledgment is completed.
• The notary public must print his or her name as it appears within his or her
commission followed by a comma and then your title (notary public).
• Print the name(s) of document signer(s) who personally appear at the time of
notarization.
• Indicate the correct singular or plural forms by crossing off incorrect forms (i.e.
hetshcf#wj—, is /ere ) or circling the correct forms. Failure to correctly indicate this
information may lead to rejection ofdocument recording.
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Impression must not cover text or lines. If seal impression smudges, re -seal if a
sufficient area permits, otherwise complete a different acknowledgment form.
• Signature of the notary public must match the signature on file with the office of
the county clerk.
-.r Additional information is not required but could help to ensure this
acknowledgment is not misused or attached to a different document.
e Indicate title or type of attached document, number of pages and date.
v Indicate the capacity claimed by the signer. if the claimed capacity is a
corporate officer, indicate the title (i.e. CEO, CFO, Secretary).
• Securely attach this document to the signed document with a staple.
PHILADELPHIA INDEMNITY INSURANCE COMPANY
One Bala Plaza, Suite 100
Bala Cynwyd, PA 19004-0950
Power of Attorney
KNOW ALL PERSONS BY THESE PRESENTS: That PHILADELPHIA INDEMNITY INSURANCE COMPANY (fie Company), acorporation organized and
exisringun der the laws of the Cam monwealth of Permsy I vani a, does hereby can sritute and appoint JANINA MONROE, THOMAS G. MCCALLTIMOTHY I.
NOONAN, MICFIELLE-HAASE AND MARTi3A BARR ERAS OF LOCKTON COMPANIES, LLC itstnie and )awf) Attomey- .n-fact with 5j)) authority to execute
on its behalf bonds, undertakings, recognizances and other contracts of indemnity and writings obligatory in then arure thereof, issued in the course of its business and
to bind the Company thereby, in an amount not to exceed 350,000A00.
This Power of Attorney is granted and is signed and sealed by facSiMile under and by the authadty of the following Resolutian adapted by the Board of Directors of
PHILADELPHIA INDEMNITY INSURANCE COMPANY on the 10 of November, 2016.
RESOLVED: Thar the Board of Directors hereby authorizes the President or any Vice President of the
Company: (1) AppointAttorney(s) in Fact and authorize theAttomey(s) in Fact to execute
an behalf of the Company bonds and undertakings, contracts of indemnity and other
wrie ngs obligatory in the naturerhereofand to attach the seal ofthe Company thereto; and
(2)toremove, atany 6me-any such Attomey-in-Fact and revoke the authority given. And,
be it
FURTHER
RESOLVED: That the signatures of such officers and the real ofthe Company may be affixed to any
such Powerof.Attorney or certifi care relating thereto by facsimi le, and any such Power of
Attorney so executed and certifiedby facsimi le signatures and facsimi le seal shall be valid
and binding upon the Company in the future with respect to any bond or undertaking to
which it is attached.
IN TESTIMONY WHEREOF, PHILADELPHIA INDEMNITY INSURANCE COMPANY HAS CAUSED THIS INSTRUMENT TO BE SIGNED AND ITS
CORPORATE SEALTO BE AFFIXED BY ITS AUTHORIZED OFFICE THIS 5TH DAY OF MARCH, 2021
(Seal)
le:Z. jk. b, 1'r-:3u1cm; & CCO
Philadelphia Indemnity Insurance Company
On this 56 day of March, 2021 before me camethe individual who executedthe preceding instrument,to me personally known, and being by me duly sworn said thathe
is the therein described and authorized officer ofthe PHILADELPHIA INDEMNITY INSURANCE COMPANY; that the seal affixed to said instrument is the
Corporate seal of said Company; thatthe said Corporate Seal and hissignature were duly affixed.
Notary Public:
�:':. r Cam.- ,-
aaeanenrnrthofl'rfNKyko++ia-r+c:lrysaw )'r 1�.-{�.z
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Vanessa Nckeorx, Naa ry Puh1k
MePw-ric-my
M r oomrrds51on expkes November 3, 2024
Cemm`►dnn member 1366394
ru reer. u+iyn a q <sigeWHegaf kstaryr residing at. Bala Cynwyd, PA
My commission expires: November3,2024
1, Edward Sayago, Corporate Secretary ofPHILADELPHIA INDEMNITY INSURANCE COMPANY, do hereby certify that the foregoing resolution ofthe Board of
Directors and the Power of Attorney issued pursuantthereto on the Vh day March, 2021 are true and correct and are sti II in fu II force and effect. I do further certify that
John Glomb, who executed the Power of Attorney as President, was on the date of execution of the attached Power of Attorney the duly elected President of
PHILADELPHIA INDEMNITY INSURANCE COMPANY.
f r h h h n a affixed far I 1 Cn this_ v of DEC 16 2021
Jr. Tesimeny Wheree.. aves�..�n.'_ed my tam_ and affix__ the .__s.mi.e sea of tack mpary...ls day _
1
1 L,el r` Edward Sayago, Corporate Secretary
PH ILA DEL PH IA INDEMNITY INSURANCE COMPANY
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the
document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.
State of California
County of Los Angeles
On January 4th, 2022, before me, H. J. Kelly, a Notary Public, personally appeared Daniel J. Faina,
who 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.
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.
Signature _
City of La Quinta
CITY COUNCIL MEETING: JANUARY 18, 2022
STAFF REPORT
AGENDA TITLE: APPROVE ASSIGNMENT AND ASSUMPTION AGREEMENT
AND AMENDMENT TO SUBDIVISION IMPROVEMENT AGREEMENT FOR TRACT
MAP NO. 33336, PALO VERDE II, A RESIDENTIAL DEVELOPMENT LOCATED ON
THE NORTH SIDE OF AVENUE 58 WEST OF MADISON STREET
RECOMMENDATION
Approve Assignment and Assumption Agreement and Amendment to
Subdivision Improvement Agreement for on-site improvements for Tract Map
No. 33336, Palo Verde II, and authorize the City Manager to execute said
agreement.
EXECUTIVE SUMMARY
•Palo Verde 37, LLC has sold its interest in this tract to WH Palo Verde
37, LLC (New Developer) and desires to assign the subdivision
improvement obligations to the New Developer.
•New Developer requests approval of Assignment and Assumption
Agreement and Amendment to Subdivision Improvement Agreement
(Agreement) for Tract Map No. 33336, Palo Verde II.
FISCAL IMPACT
There is no fiscal impact to the City. New Developer has submitted
replacement securities to guarantee construction of the improvements.
BACKGROUND/ANALYSIS
Palo Verde II is a residential development located at the north side of Avenue
58 west of Madison Street (Attachment 1).
In February 2009, Standard Pacific Corp entered into a Subdivision
Improvement Agreement for Palo Verde II. In October 2021, Palo Verde II’s
subdivision improvement obligations were assigned to Palo Verde 37, LLC.
Palo Verde 37, LLC recently sold its interest in this tract to New Developer.
CONSENT CALENDAR ITEM NO. 5
51
The City will release Palo Verde 37, LLC’s securities upon executing the
Agreement (Attachment 2).
ALTERNATIVES
Staff does not recommend an alternative.
Prepared by: Amy Yu, Associate Engineer
Approved by: Bryan McKinney, P.E., Public Works Director / City Engineer
Attachments: 1. Vicinity Map
2. Assignment and Assumption Agreement and Amendment
to Subdivision Improvement Agreement
52
TM 33336 palo verde ii
V I C I N I T Y M A P
NOT TO SCALE
53