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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 supercede SureTec Bond No. 4444994 FAITHFUL PERFORMANCE BOND (LQMC 6.16� Fugitive Dust Control Bond Bond No. P603010408293 Premium: $150.0012yr Term WHEREAS, the City of La Quinta, California, is prepared to authorize WH Palo Verde 37, LLC , as Principal, to proceed with certain construction activities pursuant to one, or more permits issued by the City, for various infrastructure improvements and/or structures on, or associated with, privately -owned property generally known to the City and others as Tract 33336 ; and WHEREAS, all such construction and demolition activities must be performed in such manner as to conform with La Quinta Municipal Code, Chapter 6.16, entitled Fugitive Dust Control to reduce fugitive dust and corresponding PM10 emissions; and WHEREAS, said Principal is required to ensure that Fugitive Dust Control Permit # iPM-10 , prepared specifically for the subject construction site, is financially secure by furnishing security for the faithful performance of the dust control activities required in the Fugitive Dust Mitigation Plan. Company NOW therefore, we the Principal and Philadelphia Indemnity Insurance , as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal sum of Twelve Thousand and 0(Y100 Dollars ($ 12,000-00 = lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally, firmly by these presents. The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and provisions in the said dust control plan and any alteration thereof made as therein provided, on his or their part, to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless the Obligee, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise, it shall be and remain in full force and effect. As a part of the obligation secured hereby and in addition to the face amount specified therefore, there shall be included costs and reasonable expenses and fees, including reasonable attorneys fees, incurred by the Obligee in successfully 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 dust control plan or to the work to be performed there under or the specifications accompanying the same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the dust control plan or to the work, the specifications, or the conditions of approval of said plan. Page 1 of 2 T Drive/Checklists - Forms & Applications/Standard Dust Control Bond Form Fugitive Dust Control Bond Fugitive Dust Control Permit # 4PM-10 Page 2 of 2 In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on December 16 , 2021 WH Palo Verde 37, LLC Principal (Seal) _ Signature of Principal Title of Signatory Philadelphia Indemnity Insuranoe Comi)any Sur ty ISeal) ) �—Au LAI S n tur u ety Martha Barreras, Attomey-in-Facl Title of Signatory 198M MacArthur Blvd., Ste 1250 wine, CA 92612 Address of Surety 949 252.4425 Phone # of Surety Martha Barreras Contact Person for Surety T Drive/Checklists — Forms & AppGcalion s/Standard Dust Control Bond Form 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 (Mere Insart name are We ol 1ha o car) personally appeared Martha Barreras who proved to me on the basis of satisfactory evidence to be the person(W whose name(s) islmk subscribed to the within instrument and acknowledged to me that ke/she/%W executed the same in kis/her/tkteiir authorized capacity0exx and that by JdatherAW& signatures on the instrument the person*, or the entity upon behalf of which the personal 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. GARNER WITNESS m hand and official seal. _Notary Public - Californiay Orange CountyCommission # 2361777 Comm. Expires Jun 18, 2025 Notary Public Signature (Notary Public Seal) ADDITIONAL OPTIONAL INFORMATION INSTRUCTIONS FOR COMPLETING THIS FORM This farm complies with current California statutes regarding notary wording and, DESCRIPTION OF THE ATTACHED DOCUMENT if needed, should be completed and attached to the document. Acknoltvedgenrs front other states may be completed for documents being sent to that state so long as the wording does not requite the California notary to violate California notary Imr. (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) 5a Attomey-in-Fact ❑ Trustee(s) ❑ Other 2015 Version vnnv NotaryClasses.com 800-873-9865 • 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. )retshe/d+ey— is lace ) or circling the correct forms. Failure to correctly indicate this information may lead to rejection of document recording. • The notary seal impression must be clear and photographically reproducible, 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 cleric. v Additional information is not required but could help to ensure this acknowledgment is not misused or attached to a different document. 4. Indicate title or type of attached document, number of pages and date. fe 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 (the Company), acorporation organized and existing under the laws of the Commonwealth of Pennsy I vani a, does hereby constitute and appoint JANINA MONROE, THOMAS G. MCCALL TIMOTHY J. NOONAN MJC_HELLE.HAASE AND MARTHA BARR ERAS OF LOCKTON COMPANJES, LLC, itsrrue and Jawful Atturney4n-fact with full authority to execute on its behalf bonds, undertakings, recognizances and other contracts of indemnity and writings obligatory in the naturethereo£ issued in the course of its business and to bind the Company thereby, in an amount not to exceed 550.000.000. This Power of Attorney is granted and is signed and sealed by facsimile under and by the authority of the following Resolution adopted by the Board of Directors of PHILADELPHIA INDEMNITY INSURANCE COMPANY on the 10 of November, 2016. RESOLVED: That the Board of Directors hereby authorizes the President or any Vice President of the Company: (1) Appoint Atrorney (s) in Fact and authorize th a Attom ey (s) in Fact to execute on behalf of the Company bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof and to attach the seal of the Company thereto; and (2) to remove, at any time, any such Attomey4n-Fact and revoke the authority given. And, be it FURTHER RESOLVED: That the signatures of such officers and the seal of the Company may be affixed to any such Power of Attomey or certificate relating thereto by facsimi le, and any such Power of Attorney so executed and certifiedby facsimile 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) Philadelphia Indemnity Insurance Company On this 5n' day of March, 2021 before me came the individual who executed the preceding instrument, tome personally known, and being by me duly sworn said thathe is the therein described and authorized officer of the PHILADELPHIA INDEMNITY INSURANCE COMPANY; that the seal affixed to said instrument is the Corporate seal of said Company; that the said Corporate Seal and his signature were duly affixed. coffw4pwealn of P11rM*enW Naµry saw 1llnei>i41iACkvaie. J Laq Pubft Ma+tgo naryCounty My oomnftslon eaphes Nowemtar 3. iO4 ee.mrr tskm number 136013 4 SA�F'bar. ?:e � rakr � TesginN�e e} ►rearrr Notary Public: f residing at: Bala Cynwyd, PA My commission expires; November3,'_02T I, 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 5n' day March, 2021 are true and correct and are still in full 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. In Testimony Whereof J have subscribed my name and affixed the facsimi le seal of each Company rhis day of DEC 16 241 �t Edward Sayago, Corporate Secretary PHILADELPHIA 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 41h, 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 *my H. J. KELLY Notary Pugliz • Californfa Los Angeles County Commission # 2375176 Comm, Expires Sep 14. 2025 To supersede SureTec Bond Number 4444996 FAITHFUL PERFORMANCE BOND (LQMC 8.02.01 & CBC 3311) Bond No.. 1,295. 0 / 2yr T Premium: � 1,295.0012yr Term Grading Bond WHEREAS, the City of La Quinta, California, is prepared to issue Encroachment Permit # PM-10/SWPPP in accordance with the La Quints Municipal Code, and the California Building Code which is adop led by reference, to WH Palo Verde 37, LLC as Principal, whereby Principal will be authorized to perform certain grading improvements identified in the permit, and as further detailed on the grading plans referenced therein, to privately -owned property generally known to the City and others as Tract Map No. 33336 ; and WHEREAS, Said Principal is required under the terms of the permit to furnish a bond for the faithful performance of the grading work in accordance with the approved plans, specifications, and permit requirements; or, ifthe work is abandoned (not completed as required), Principal shall correct or eliminate any hazardous conditions that may exist_ NOW, therefore, we the Principal and Philadelphia Indemnity Insurance Company as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal sum of One Hundred Three Thousand Five Hundred Eighty and 00/100 Dollars ($ 103,580.00 ) lawful money ofthe United States, for the payment ofwhich sum well and truly to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally, firmly by these presents. The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors, administrators, suers or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and provisions in the said permit andany alteration thereofmade as therein provided, on his or their part, to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless the Obligee, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void, - otherwise, it shall be and remain in full force and effect As a part ofthe 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 the Obligee in successfully 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 term s ofthe permit or to the work to be performed there under or the specifications accom panying the same shall in anywise affect its obligations on this bond, and it does hereby waive notice ofany such change, extension of time, alteration or addition to the terms ofthe permit or to the work or to the specifications_ Page 1 of 2 T Drive/Checklists — Forms & ApplicationslStandard Grading Bond Form Standard Grading Bond Form Encroachment Permit # PM-10/SWPPP Page 2 of 2 In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on December 16 , 20 21 WH Palo Verde 37, LLC Principal (Seal) w Signature of Principal / -1 O-V Pee Title of Signatory Philadelph Indemnity Insurance Company t (Seal) Signature a Surety Martha Barreras, Attorney -in -Fact Title of Signatory 198Q0 MacArthur Blvd., Ste. 1250 Irvine, CA 92612 Address of Surety 949 252-4425 Phone # of Surety Martha Barreras Contact Person for Surety T Drive/Checklists — Forms & Applications/Standard Grading Bond Form 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 iHtra insert name and We of the o personally appeared Martha Barreras who proved to me on the basis of satisfactory evidence to be the person(w whose name(s) is/m subscribed to the within instrument and acknowledged to me that ke/she/t executed the same in kis/her/tkoeir authorized capaciityl saX and that by Jd:sWher/ signature(* on the instrument the personoo, or the entity upon behalf of which the personM 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. L.RNER WITNESS my hand and official seal. r r NotaryNPublicc-California T .gc Orange County Commission2361777 /���,.: (�f/,7,:-K� • ,_� My Comm. Expiress Junun18, �20J25 rotary Public Signature (Notary Public Seal) ADDITIONAL OPTIONAL INFORMATION INSTRUCTIONS FOR COMPLETING THIS FORM This form complies with current California statutes regarding notary wording and, DESCRIPTION OF THE ATTACHED DOCUMENT ifneeded, should be completed and attached to the document. Acknolu•edgents 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 Imp. (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) 5d Attomey-in-Fact ❑ Trustee(s) ❑ Other 2015 Version vrvw.NotaryClasses.com 800-873-9865 • State and County information must be the Slate and County where the document signers) 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. • Tire 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 notanzation. • Indicate the correct singular or plural forms by crossing off incorrect forms (i.e. he/she/they;- is /afe) or circling the correct forms. Failure to correctly indicate this information may lead to rejection ofdocument recording. • The notary seal impression must be clear and photographically reproducible. hupression must not cover text or lines. If sea] 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. Additional information is not required but could help to ensure this acknowledgment is not misused or attached to a different document. Indicate title or type of attached document, number of pages and date. e 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 (the Company), acorporation organized and existing under the laws of the Commonwealth of Pennsylvania, does hereby constitute and appoint JANINA MONROE, THOMAS G. MCCALL, TIMOTHY J. NODNAN, MJCHELLEHAASEAND MARTHA BARR ERAS OF LOCK TON COMPANJES, LLC., irstrueand JawfuJ Attomey4n-fact with full authority to execute on its behaIf bonds, undertakings, recognizances and other contracts of indemnity and writings obligatory in the narurethere a& issued in the course of its business and to bind the Company thereby, in an amount not to exceed 32,000-000. This Power of Attomey is granted and is signed and sealed by facsimile under and by the authority of the following Resolution adopted by the Board of Directors of PHILADELPHIA INDEMNITY INSURANCE COMPANY on the 14a of November, 2016. RESOLVED: Thatthe Board of Directors hereby authorizes the President or any Vice President of the Company: (1) Appoint Attorneys) in Fact and authorizethe Attomey(s) in Fact to execute on behalf of the Company bonds and undertakings, contracts of indemnity and other writingsobligatory in thenaturethereofand to arrach the seal of the Company thereto; and (2) to remove; at any time, any such Attomey-in-Fact and revoke the authority given. And, be it FURTHER RESOLVED: Thar the signatures of such officers and the seal ofthe Company may be affixed to any such Power of Attorney or certificate relating thereto by facsimi le, and any such Power of Attorney so executed and certifiedby facsimile 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 1TS CORPORATES EALTO BE AFFIXED BY ITS AUTHORIZED OFFICE THIS STH DAY OF MARCH, 2021. (Seal) I`'t. fkrtb. I`rextdcni 3sC'G{J Philadelphia Indemnity Insurance Company On this 5*' day of March, 2021 before me came the individual who executedthe preceding instrument,to me personally known, and being by me duly sworn said thathe is the therein described and authorized officer of the PHILADELPHIA INDEMNITY INSURANCE COMPANY; that the seal affixed to said instrument is the Corporate seal of said Company; that the said Corporate Seal and his signature were duly affixed. Notary Public: 4awncnwektRofiftn vanM-NVMS.d Vsnuss Md eruie. Notary pubut MontyomaryCounty M y tx>rwrdsslon expBes NovemW 3, 2024 C¢mm Sslon ftA)bV t: N354 ' }Ar,ry6}, aprM1ryka' RF�seDfiNgotkvY►rs residing at: Bala Cynwyd, PA My commission expires: November3,2024 1, Edward Sayago, Corporate Secretary ofPHILADELPHJA INDEMNITY INSURANCE COMPANY, do hereby certify that the foregoing resolution ofthe Board of Directors and the Power of Attomey issued pursuant thereto on the 5 h day March, 2021 are true and correct and are still in full 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. �r}} 9Lrryy Jn Teaimony Whereof J have subscribed mand affixed n2me anaffixed the faCSimi Je seal of each Company this day Df DEC 16 L1 Edward Sayago, Corporate Secretary PHILADELPHIA 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 41h, 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. y H. I KELLY lNotary Pualic - California - y Los Angeles County Signature ■ Commission k 2375176 My Comm. Expires Sep 14, 2025 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. • The notary seal impression must be clear and photographically reproducible. 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 �- 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