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2022 - 31249 Beazer Homes Holdings, LLC - SIA On-Site & Off-Site (Replacement)2/18/2022 La Jolla Bank La Jolla Bank 390 West Valley Parkway Escondido, California 92253 (760) 233-2330 August 14, 2006 IRREVOCABLE STANDBY LETTER OF CREDIT NO. 23 (On -Site Performance) Beneficiary: Amount: $1,950,983.00 City of La Quints Public Works Department 78-495 Calle Tampico La Quinta, California 92253 To Benefician: We hereby establish our irrevocable Standby Letter of Credit in your favor, by order of Adobe Holdings, Inc., P.O. Box 1396, La Quinta, California 92247-1396 The amount set forth above will be available to you by submission of your Sight Draft(s), through proper clearing channels (consult your bank), accompanied by this original Letter of Credit and Beneficiary's officially -signed statement certifying that: Adobe Holdings, Inc. has failed to construct public and private street, drainage, utility, landscaping and other improvements required to be constructed or agreed to be constructed under City of La Quinta Subdivision Improvement Agreement (ON -SITE IMPROVEMENTS) for Tract 31249, and that Adobe Holdings, Inc. has been notified in writing of the failure to perform at least ten (10) days prior to drawing(s). This Letter of Credit guarantees that all or any portion of the funds available pursuant to Letter of Credit No. 23 will be paid upon the written demand of the City and that such written demand need not present documentation of any type as a condition of payment, including proof of loss. Each draft, payable at sight, must state on its face, "Drawn under La Jolla Bank Letter of Credit No. 23 dated August 14, 2006." This letter of credit shall remain valid until August 30, 2007, or any extended date. It being a condition of this irrevocable letter of credit that it be automatically extended for an additional period of one year from the present or any future expiration date unless sixty days prior we notify the City of La Quinta and the City authorizes its expiration, or until sixty (60) days after the City receives notice from La Jolla Bank of intent to allow expiration of the letter of credit. Drafts may not be presented for any purposes, after expiration of the Letter. This Letter of Credit is transferable only upon our prior approval and payment of an appropriate transfer fee. We hereby agree to duly honor drafts properly drawn on, and in strict compliance with the terms of, this Letter of Credit, on presentation during normal business hours to this bank at 390 West Valley Parkway, Escondido, California 92025, ATTN: Loan Processing Department. This Letter of Credit is subject to the law of the rules pertaining to Uniform Customs and Practice for Documentary Credits (ICC Publication #500, 1993 revision). TO BE VALID, THIS LETTER OF CREDIT MUST BE SIGNED BY T OF THIS BANK' S CORPORATE FICERS. LA JOLLA BANK By: - -� - By: Martin Rodriguez Roger W. Loveless Title: Vice President Title: Assistant Vice President Loan Processing Center 390 West Valley Parkway Escondido, CA 92025 (760) 233-2330 La Jolla Bank (On -Site Performance) Assignment ASSIGNMENT to Assignor, Adobe Holdings, Inc., whose address is P.O. Box 1396, La Quinta, California 92247-1396, hereinafter called ASSIGNOR, do (does) hereby assign and set over the amount of $1,950,983.00 in Account No. 0651037972 at la Jolla Bank, whose address is 78010 main Street, Suite 100, La Quinta, California 92253 and all right, title and interest of whatever nature there to the Assignee, City of La Quinta, Public Works Department, 78-496 Calle Tampico, La Quinta, California 92253, hereinafter referred to as ASSIGNEE. The passbook, or other evidence of account is delivered herewith. Assignor agrees that this assignment carries with the right in the insurance of the account by the FDIC and gives the right to the Assignee to redeem, collect and withdraw the assigned amount of such account at any time WITHOUT NOTICE TO ASSIGNOR. (The assignment is given as security for the payment of all bills, statements or charges for any services furnished or rendered at any time from and after August 14, 2006, and at any and all premises at which service has been or may be ordered or contracted for by the Assignor. Assignor hereby notifies La Jolla Bank of this assignment. Dated this day of ,2006, at California. AD E HOLD GS, INC. A gn❑ By aber1T E. Rippe, Presi ent FIRST ENDORSEMENT -RECEIPT FOR NOTICE OF ASSIGNMENT Receipt is hereby acknowledged to the Assignee above of written notice of the assignment in the amount of $1,950,983,00 to said Assignee of the account identified above. We have noted in our records the Assignee's interest in said account as shown by above assignment and have retained a copy of this sheet. We certify that we are holding the assigned amount and have received no notice of any lien, encumbrance, hold, claim or obligation of the above -identified account prior to the assignment above. We agree to make this payment to the Assignee upon written request in accordance with the savings and loan laws applicable to this association. Assignee shall hold La Jolla Bank harmless for any and all actions taken in connection with said assignment and shall indemnify La Jolla Bank for any and all liabilities incurred in connection herewith. Dated this day of ,2006, at California. La Jolla Bank ;47 f Officer) Title: SECOND ENDORSEMENT— RECEIPT FOR SECURITY AND DIRECTION TO PAY EARNINGS Receipt is acknowledged of the above assignment and the account identified in the above assignment. La Jolla Bank is hereby authorized and directed to pay any earnings on the above -identified account to the above named assignor so long as sufficient funds remain on deposit to pay the assigned amount. Dated this day of , 2006, at California. CITY OF LA QUINTA, ASSIGNEE By, By: 2/18/2022 - k1IFORNIn - MEMORANDUM Date: October 12, 2021 To: Monika Radeva, City Clerk From: Amy Yu, Associate Engineer Re: Tract Map 31249, Cantera, Bonds for Off -Site Improvements The developer is posting the following bonds with the City for the above referenced project: 1. Performance Bond = $730,907.80 Bond No. 800056302 2. Labor and Material Bond = $730,907.80 Bond N,o. 800056302 Developer: Mr. Jason Mock Beazer Homes 310 Commerce, Suite 150 Irvine, CA 92602 Surety: Atlantic Specialty Insurance Company 222 South Harbor Blvd., Suite 900 Anaheim, CA 92805 Attn: Patrick Benedict (781)332-8779 If you have any questions, please contact me at extension 7047. Thank You. FAITHFUL PERFORMANCE BOND (LQMC 14.16.180) Bond No. 800056302 Tract Map No. 31249, Offsite Street Improvements Premium: $4,751.00 WHEREAS, the City of La Quinta, California, is prepared to issue Encroachment Permit # in accordance with the La Quinta Municipal Code, to Beazer Homes Holdings, LLC, a Delaware limited liability company, as Principal, whereby Principal will be authorized to construct certain improvements in the public right of way as identified in the permit, and further detailed on the improvement plans referenced therein; and WHEREAS, Said Principal is required to furnish a surety bond in accordance with La Quinta Municipal Code Section 14.16.180 to faithfully perform and construct the permitted improvements, or restore the right of way to its former condition in the event the proposed improvements are not completed in accordance with the approved plans, specifications, and permit requirements to the satisfaction of the City Engineer; or, if the work is abandoned (not completed as required), Principal shall complete the improvements, or restore the right of way to its former condition, whichever is the less expensive alternative of these two alternatives to perform. NOW, therefore, we the Principal and Atlantic Specialty Insurance Company, as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal sum of Seven Hundred Thirty Thousand Nine Hundred Seven and 80/100 Dollars ($730,907.80) 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 permit 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 attorney's fees, incurred by the Obligee in successfully enforcing such obligation, all to be taxed as costs and included in any judgement rendered. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the permit or to the work to be performed thereunder 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 permit or to the work or to the specifications. Page Iof2 Performance Bond Encroachment Permit # Page 2of2 In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on October 7, 2021. Beazer Homes Holdings, LLC, a Delaware limited liability company Princip (Seal) Signature of Principal Title of Signatory 01 Atlantic Specialty Insurance Company Surely (Seal) Signature of Surety Tracy Aston, Attorney -in -Fact Title of Signatory 222 South Harbor Blvd., Suite 900 Anaheim, CA 92805 Address of Surety 781-332-8779 Phone # of Surety Patrick Benedict Contact Person For Surety ENGINEER'S OPINION OF PROBABLE COST FOR OFFSITE STREET IMPROVEMENTS Prepared for. Beazer Homes Cantera at Coral Mountain Tract Map No. 37249 Project Location: Southwest Corner of Avenue 58 and Madison Street in the City of La Quinta September 29, 2021 MSA JOB #219S MSA CONSULTING, INC. > PLANNING > CIVIL ENGINEERING > LAND SURVEYING 34200 Bob Hope Drive, Rancho Mirage, CA 92270 760.320.9811 msaconsultinginc.com IDI QOHs /gy�� DE L4 z �i C43880 m n MAWA �� OF CA1.�F❑� Page 1 of 2 OFF SITE IMPROVEMENTS DESCRIPTION UNIT QUANTITY UNIT COST TOTAL COST Off -site Street Sawcut Existing AC Pavement LF 2,146 $4.00 $8,584.00 Remove Existing AC Pavement SF 26,520 $1.50 $39,780.00 Existing Power Poles to Be Relocated By I I D Forces at Owner's Expense LS 1 $380,000.00 $380,000.00 Install 4" AC Pavement Over 6" Calss 2 Aggragate Base SF 61,288 $2.00 $122,576.00 Construct 8" Curb and Gutter Per City of La Quinta Standard Drawing No.202 LF 1,287 $20.00 $25,740.00 Construct 8" AC Dike Per City of La Quinta Standard Drawing No.204 LF 166 $12.00 $1,992.00 Construct 6" AC Dike Per City of La Quinta Standard Drawing No.204 LF 41 $10.00 $410.00 Construct 10' Wide Cross Gutter Per City of La Quinta Standard Drawing Nos. 230 & 231 SF 2,214 $10.00 $22,140.00 Construct Curb Inlet Catch Basin No.1 Per City of La Quinta Standard Drawing No. 300 EA 2 $5,000.00 $10,000.00 Construct Gutter Depression Case B Per City of La Quinta Standard Drawing No. 330 EA 2 $1,000.00 $2,000.00 Proposed 10' Wide Multi -Use Trail. See Off -Site Parkway Precise Grading Plan for Details N/A N/A $0.00 Construct Curb Ramp Case A Per City of La Quinta Standard Drawing No.250 EA 3 $2,000.00 $6,000.00 Adjust Existing Appurtenance to Grade EA 13 $350.00 $4,550.00 Install 15" HDPE Storm Drain Line with Water Tight Joints. LF 78 $100.00 $7,800.00 Install ADS 15" Steel End Section for HDPE or Approved Equal EA 2 $1,000.00 $2,000.00 Construct 5' X 5' X 1' Thick Underground Backing No. 2 Energy Dissipator LF 50 $40.00 $2,000.00 SUBTOTAL OFF-STE STREET IMPROVEMENTS $635,572.00 15% CONTINGENCY $95,335.80 TOTAL $730,907.80 Assumptions: 1. These quantities are based on the Tract Map No. 31249 Off -site Street Improvement plan completed on 08/13/2021. 2. Power Pole Relocation estimate provided by Dry Utility Coordinator Page 2 of 2 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT A Notary Public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Los Angeles OCT 0 7 2021 On before me, Edward C. Spector. NoLaU Public, personally appeared Trac Aston who proved to me on the basis of satisfactory evidence to be the person($) whose name(8) is/am subscribed to the within instrument and acknowledged to me that he/she/fiwy executed the same in h6/herAAk authorized capacity(ioa), and that byhis/her/Awk signature(s) on the instrument the person(@), 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 EDWARD C. SPECTOR Notary Public . California x. Los Angeles County z !: Commission N 22612:20..2,21 My Comm. Expires Oct 5, Signature of Notary Public I 'o intact INSURA.'. E Power of Attorney KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, does hereby constitute and appoint: Edward C. Spector, Tracy Aston, Simone Gerhard, Thomas Branigan, Marina Tapia, April Martinez, KD Wapato, Donna Garcia, Rosa E. Rivas, Samantha Fazzini, Nathan Varnold, John W. Lambdin, Ethan Spector, each individually if there be more than one named, its true and lawful Attomey-in-Fact, to make, execute, seal and deliver, for and on its behalf as surety, any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, provided that no bond or undertaking executed under this authority shall exceed in amount the sum of: unlimited and the execution of such bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof in pursuance of these presents, shall be as binding upon said Company as if they had been fully signed by an authorized officer of the Company and sealed with the Company seal. This Power of Attorney is made and executed by authority of the following resolutions adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the President, any Senior Vice President or Vice -President (each an "Authorized Officer") may execute for and in behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and affix the seal of the Company thereto; and that the Authorized Officer may appoint and authorize an Attorney -in -Fact to execute on behalf of the Company any and all such instruments and to affix the Company seal thereto; and that the Authorized Officer may at any time remove any such Attorney -in -Fact and revoke all power and authority given to any such Attomey-in- Fact. Resolved: That the Attomey-in-Fact may be given full power and authority to execute for and in the name and on behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney -in -Fact shall be as binding upon the Company as if signed and sealed by an Authorized Officer and, further, the Attomey-in-Fact is hereby authorized to verify any affidavit required to be attached to bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof. This power of attorney is signed and sealed by facsimile under the authority of the following Resolution adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the signature of an Authorized Officer, the signature of the Secretary or the Assistant Secretary, and the Company seal may be affixed by facsimile to any power of attorney or to any certificate relating thereto appointing an Attorney -in -Fact for purposes only of executing and sealing any bond, undertaking, recognizance or other written obligation in the nature thereof, and any such signature and seal where so used, being hereby adopted by the Company as the original signature of such officer and the original seal of the Company, to be valid and binding upon the Company with the same force and effect as though manually affixed. IN WITNESS WHEREOF, ATLANTIC SPECIALTY INSURANCE COMPANY has caused these presents to be signed by an Authorized Officer and the seal of the Company to be affixed this twenty-seventh day of April, 2020. '"Lt� l�SG Via, =aG �pRQ�HAPf.9n%1 =y= SEAL 19 1986 0 ` By STATE OF MINNESOTA 6l FW rpV'}aa� Paul J. Brehm, Senior Vice President HENNEPIN COUNTY On this twenty-seventh day of April, 2020, before me personally came Paul J. Brehm, Senior Vice President of ATLANTIC SPECIALTY INSURANCE COMPANY, to me personally known to be the individual and officer described in and who executed the preceding instrument, and he acknowledged the execution of the same, and being by me duly sworn, that he is the said officer of the Company aforesaid, and that the seal affixed to the preceding instrument is the seal of said Company and that the said seal and the signature as such officer was duly affixed and subscribed to the said instrument by the authority and at the direction of the Company. ALISON DWAN NASH•TROUT NOTARY PUBLIC • MINNESOTA My Commission Expires January 31, 2025 Li�rn llLL�4 Notary Public I, the undersigned, Secretary of ATLANTIC SPECIALTY INSURANCE COMPANY, a New York Corporation, do hereby certify that the foregoing power of attorney is in full force and has not been revoked, and the resolutions set forth above are now in force. Signed and sealed. Dated day of 02+ OCT 0, 1 •�.P`�Y IN�Ij CV�GpRPQRAT{c9c,3 =y SEAL c4 1986 0 This Power of Attorney expires $* 'Vol' - b� January 31, 2025 Kara Barrow, Secretary Please direct bond verifications to surety0intactinsurc. CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 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 10/8/2021 Date before me, Courtney N. Ziolkowski, Notary Public personally appeared Gavin Percy Here Insert Name and Title of the Officer NameN of who proved to me on the basis of satisfactory evidence to be th ersan( whose name( ��isl+a �Subscriped to the within instru ent and acl<no edged to me that felt�+gxecuted the saY�1'e in Ilrl eir authorized capac##y(ie ,and that by is reir signature oln t enstrument the person�3)L the emit upon behalf of which e erson a exdcuted the instrument. Y P p COUMEY N. VOLKOWSKI NQUry Pub HC - Calflgrnfa Orange County Commission a 23040a4 My Comm. Expires Sep 6. 2023 Place Notary Seal Above 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 Signature ignature of Notary Public OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Number of Pages: Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: 02016 National Notary Association • www.NationaiNotary.org • 1-800-US NOTARY (1-800-876-6827) Item #5907 LABOR AND MATERIAL BOND Bond No. 800056302 Tract Map No. 31249, Offsite Street Improvements Premium charged is included in charge for performance bond WHEREAS, the City of La Quinta, California, is prepared to issue Encroachment Permit # in accordance with the La Quinta Municipal Code, to Beazer Homes Holdings, LLC. a Delaware limited liability company, as Principal, whereby Principal will be authorized to construct certain improvements in the public right of way as identified in the permit, and further detailed on the improvement plans referenced therein; and WHEREAS, the principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of La Quinta to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. NOW, THEREFORE, the principal and the undersigned as corporate surety, are held firmly bound unto the City of La Quinta and all contractors, subcontractors, laborers, materialmen, and other persons employed in the performance of the work under said permit and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum of Seven Hundred Thirty Thousand Nine Hundred Seven and 80 100 Dollars ($730,907.80), for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to this work or labor, that the surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney' s fees, incurred by city in successfully enforcing this obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered. It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond. Should the condition of this bond be fully performed, then this obligation shall become null and void, otherwise it shall be and remain in full force and effect. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the permit or to the work to be performed thereunder 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 permit or to the work or to the specifications. Page 1 of 2 Labor and Material Bond Encroachment Permit # Page 2 of 2 In witness whereof, this instrument has been duly executed by the principal and surety above named, on October 7, 2021. Beazer Homes Holdings, LLC, a Delaware_ limited liability company Principal (Seal) Signature of Princip Title of Signatory Atlantic Specialty Insurance Company Surety 0 � (Seal) Signature of Surety Tracv Aston, Attornev- i n- Fact Title of Signatory 222 South Harbor Blvd Suite 900 Anaheim CA 92805 Address of Surety 781-332-8779 Phone # of Surety Patrick Benedict Contact Person For Surety ENGINEER'S OPINION OF PROBABLE COST FOR OFFSITE STREET IMPROVEMENTS Prepared for. - Beazer Homes Cantera at Coral Mountain Tract Map No. 37249 Project Location: Southwest Corner of Avenue 58 and Madison Street in the City of La Quinta September 29, 2021 M SA JOB #2195 MSA CONSULTING, INC. > PLANNING > CIVIL ENGINEERING > LAND S(JKvr-riNG 34200 Bob Hope Drive, Rancho Mirage, CA 92270 760.320.9811 msaconsultinginc.com IDI �a��ss�gy4' �,. DE L4,, CO v�9 C43880 "n s OF G Page 1 of 2 OFF SITE IMPROVEMENTS DESCRIPTION UNIT QUANTITY UNIT COST TOTAL COST Off -site Street Sawcut Existing AC Pavement LF 2,146 $4.00 $8,584.00 Remove Existing AC Pavement SF 26,520 $1.50 $39,780.00 Existing Power Poles to Be Relocated By I I D Forces at Owner's Expense LS 1 $380,000.00 $380,000.00 Install 4" AC Pavement Over 6" Calss 2 Aggragate Base SF 61,288 $2.00 $122,576.00 Construct 8" Curb and Gutter Per City of La Quinta Standard Drawing No. 202 LF 1,287 $20.00 $25,740.00 Construct 8" AC Dike Per City of La Quinta Standard Drawing No.204 LF 166 $12.00 $1,992.00 Construct 6" AC Dike Per City of La Quinta Standard Drawing No.204 LF 41 $10.001 $410.00 Construct 10' Wide Cross Gutter Per City of La Quinta Standard Drawing Nos. 230 & 231 SF 2,214 $10.00 $22,140.00 Construct Curb Inlet Catch Basin No.1 Per City of La Quinta Standard Drawing No. 300 EA 2 $5,000.00 $10,000.00 Construct Gutter Depression Case B Per City of La Quinta Standard Drawing No. 330 EA 2 $1,000.00 $2,000.00 Proposed 10' Wide Multi -Use Trail. See Off -Site Parkway Precise Grading Plan for Details N/A N/A $0.00 Construct Curb Ramp Case A Per City of La Quinta Standard Drawing No. 250 EA 3 $2,000.00 $6,000.00 Adjust Existing Appurtenance to Grade EA 13 $350.00 $4,550.00 Install 15" HDPE Storm Drain Line with Water Tight Joints. LF 78 $100.00 $7,800.00 Install ADS 15" Steel End Section for HDPE or Approved Equal EA 2 $1,000.00 $2,000.00 Construct 5' X 5' X 1' Thick Underground Backing No. 2 Energy Dissipator LF 50 $40.00 $2,000.00 SUBTOTAL OFF-STE STREET IMPROVEMENTS $635,572.00 15% CONTINGENCY $95,335.80 TOTAL $730,907.80 Assumptions. 1. These quantities are based on the Tract Map No. 31249 Off -site Street Improvement plan completed on 08/13/2021. 2. Power Pole Relocation estimate provided by Dry Utility Coordinator Page 2 of 2 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT A Notary Public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Los Angeles _ OCT 0 7 2021 On before me, Edward C. Spector, Notary Public, personally appeared Tracy Aston _ who proved to me on the basis of satisfactory evidence to be the person(8) whose name($) is/me subscribed to the within instrument and acknowledged to me that ho/she/dwy executed the same in 1qio/her/#wk authorized capacity(ios), and that by hie/her:/ 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. Signature Signature of Notary Public EDWARD C.SPECTOR .; Notary Public - California , Y ^`= Los Angeles County Commission # 2261249 +; My Comm. Expires Oct 5, 2022 intact INSURANCE KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, does hereby constitute and appoint: Edward C. Spector, Tracy Aston, Simone Gerhard, Thomas Branigan, Marina Tapia, April Martinez, KD Wapato, Donna Garda, Rosa E. Rivas, Samantha Fazzini, Nathan Varnold, John W. Lambdin, Ethan Spector, each individually if there be more than one named, its true and lawful Attorney -in -Fact, to make, execute, seal and deliver, for and on its behalf as surety, any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof; provided that no bond or undertaking executed under this authority shall exceed in amount the sum of: unlimited and the execution of such bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof in pursuance of these presents, shall be as binding upon said Company as if they had been fully signed by an authorized officer of the Company and sealed with the Company seal. This Power of Attorney is made and executed by authority of the following resolutions adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the President, any Senior Vice President or Vice -President (each an "Authorized Officer") may execute for and in behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and affix the seal of the Company thereto; and that the Authorized Officer may appoint and authorize an Attomey-in-Fact to execute on behalf of the Company any and all such instruments and to affix the Company seal thereto; and that the Authorized Officer may at any time remove any such Attorney -in -Fact and revoke all power and authority given to any such Attorney -in - Fact. Resolved: That the Attorney -in -Fact may be given full power and authority to execute for and in the name and on behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney -in -Fact shall be as binding upon the Company as if signed and sealed by an Authorized Officer and, further, the Attomey-in-Fact is hereby authorized to verify any affidavit required to be attached to bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof. This power of attorney is signed and sealed by facsimile under the authority of the following Resolution adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the signature of an Authorized Officer, the signature of the Secretary or the Assistant Secretary, and the Company seal may be affixed by facsimile to any power of attorney or to any certificate relating thereto appointing an Attomey-in-Fact for purposes only of executing and sealing any bond, undertaking, recognizance or other written obligation in the nature thereof, and any such signature and seal where so used, being hereby adopted by the Company as the original signature of such officer and the original seal of the Company, to be valid and binding upon the Company with the same force and effect as though manually affixed. IN WITNESS WHEREOF, ATLANTIC SPECIALTY INSURANCE COMPANY has caused these presents to be signed by an Authorized Officer and the seal of the Company to be affixed this twenty-seventh day of April, 2020. �P 9 SEAL t985 0= By STATE OF MINNESOTA `- 4, W"w ra'o'�' Paul J. Brehm, Senior Vice President HENNEPIN COUNTY �§e On this twenty-seventh day of April, 2020, before me personally came Paul J. Brehm, Senior Vice President of ATLANTIC SPECIALTY INSURANCE COMPANY, to me personally known to be the individual and officer described in and who executed the preceding instrument, and he acknowledged the execution of the same, and being by me duly sworn, that he is the said officer of the Company aforesaid, and that the seal affixed to the preceding instrument is the seal of said Company and that the said seal and the signature as such officer was duly affixed and subscribed to the said instrument by the authority and at the direction of the Company. :ADWAN NASH•TROUT NOTARY PUBLIC-MINNESOTA My Commission Expires January 31, 2025 Notary Public I, the undersigned, Secretary of ATLANTIC SPECIALTY INSURANCE COMPANY, a New York Corporation, do hereby certify that the foregoing power of attorney is in full force and has not been revoked, and the resolutions set forth above are now in force. Signed and sealed. Dated day of OCT V 1 LVL1 ., cL L°�p��4rF9�s _.. SEAL T"= o i98fi p This Power of Attorney expires '?s? �Ew �oP� rib January 31, 2025 Kara Barrow, Secretary Please direct bond verifications to sut rty0intaainstlrance.catn ALL-PURPOSECALIFORNIA • •. 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 10/8/2021 before me, Courtney N. Ziolkowski, Notary Public Date Here Insert Name and Title of the Officer personally appeared Gavin Percy Name of Signer(s who proved to me on the basis of satisfactory evidence to be the, persopN whose name(ss Da crif�ed to the within instru ent and ackna 1 ed to me that i� is elt y executed the saY11� in i rl# it authorized capacity(i }, and tha by i hrlt it signatur o the }nstrumsnt the person the entityupon behalf of which t1�e erson aatd executed the inst ment. p P , COURTNEV M. IIOLKOWSKI Notary public - California Orange County 5 ] •/ [ae,misslorl a 2304aE4 MY [�m. Expires Sep 6. 2023 Place Notary Seal Above 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. 14A Signature L� f gnature of Notary Public OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Number of Pages: Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: 02016 National Notary Association • www.NationaiNotary.org • 1-800-US NOTARY (1-800-876-6827) Item #5907 CASH DEPOSIT STATUS SHEET* Budget Account No. Assign by Finance DIN:TM 31249 Project Location: Village at Coral Mountain; Avenue 58 West of Madison Street Developer: ADOBE HOLDINGS, INC.; P.O. BOX 1396, LA QUINTA, CA 92247; ROBERT RIPPE (760) 702- 0684 - i ®CASH SECURITY - DESCRIPTION OF OBLIGATION PROMPTING DEPOSIT dust control; ❑As -built plans; ❑Removal of temporary improvements Other I ❑CASH PAYMENT - DESCRIPTION OF OBLIGATION PROMPTING DEPOSIT I nSI_T DATE _ DEBIT BALANCE Amount Receipt # 3118/10 $19,448.81 $19,448.81 .dD � COMMENTS a'v� * Cash deposits placed In City adminigered tFtM woM is are tMMIlyreceived for to oeasons:1) CASH SECURITY- to provide a source of funds for the City to draw upon if the City irk provide a source of funding for improvements, propgrty, or services to be acquired, I iris the fund balance when fhe developer's obligations that prompted the caM depot nd for Release of Cash Deposit (Form F058) f F!F -- THIS DOCUMENT HAS AN ARTIMAL WA CVbiank Pvt&scn*vc�a>� PAY NINMEEN'rHOUW TO THE ORo�t OF: CITY OF LA PURPOSE/REMITTER: 365913623937 Location: 5250 LA QUINTA U.S. BwkNnicrul Aswiuim Mhwap ris, MN 55M i�ri Bete: 3/18/11 01 Receipt no: 14161 Customer Location Name Amount 2274 2274 ON H[ILDM INC 4 A0 A/R IMM DOMITS Sf9448.81 Trans number: 134867 OW HOLM/PI116 DER 41"18 Tender detail 1K CWM 5250501633 $19448.81 Total tendered 119448,81 Total payment f19448.d1 T#M datet 3/1VII titea tki.1149 DEA. 09SENCE OF THSSEFEATURES WILL INDICATE A COPY No, 525051633,j82 1222 DATE: MARCH 18 20:10 $, 19,448.81 AUTHORIZED sirNATURE 110525050L63311' CL22235620:L534LO023953111 La Jolla Bank La Jolla Bank 390 West Valley Parkway Escondido, California 92253 (760) 233-2330 August 14, 2006 IRREVOCABLE STANDBY LETTER OF CREDIT NO. 25 ME —site _11mr—ovenlents) Beneficiary: Amount: $229,179.00 City of La Quinta Public Works Department 78-495 Calle Tampico La Quinta, California 92253 To Beneficiarv: We hereby establish our irrevocable Standby Letter of Credit in your favor, by order of Adobe Holdings, Inc., P.O- Box 1396, La Quinta, CA 92247-1396 The amount set forth above will be available to you by submission of your Sight Draft(s), through proper clearing channels (consult your bank), accompanied by this original Letter of Credit and Beneficiary's officially -signed statement certifying that: Adobe Holdings, Inc. has failed to construct the public and private street, drainage, utility, landscaping and other improvements required to be constructed under City of La Quinta Subdivision Improvement Agreement (OFF -SITE IMPROVEMENTS) for Tract 31249, and that Adobe Holdings, Inc. has been notified in writing of the failure to perform at least ten (10) days prior to drawing(s). This Letter of Credit guarantees that all or any portion of the funds available pursuant to Letter or Credit No. 25 will be paid upon the written demand of the City and that such written demand need not present documentation of any type as a condition of payment, including proof of loss. Each draft, payable at sight, must state on its face, "Drawn under La Jolla Bank Letter of Credit No. 25 dated August 14, 2006." This letter of credit shall remain valid until August 30, 2007, or any extended date. It being a condition of this irrevocable letter of credit that it be automatically extended for an additional period of one year from the present or any future expiration date unless sixty days prior we notify the City of La Quinta and the City authorizes its expiration, or until sixty (60) days after the City receives notice from La Jolla Bank of intent to allow expiration of the letter of credit. Drafts may not be presented for purposes, after expiration of the Letter. This Letter of Credit is transferable only upon our prior approval and payment of an appropriate transfer fee. We hereby agree to duly honor drafts properly drawn on, and in strict compliance with the terms of, this Letter of Credit, on presentation during normal business hours to this bank at 390 West Valley Parkway, Escondido, California 92025, ATTN: Loan Processing Department This Letter of Credit is subject to the law of the rules pertaining to Uniform Customs and Practice for Documentary Credits (ICC Publication #500, 1993 revision). TO BE VALID, THIS LETTER OF CREDIT MUST BE SIGNED BY TWO OF THIS BANK'S CORPORATE OFFICERS. By: Martin Rodriguez Title: Vice President Loan Processing Center 390 West Valley Parkway Escondido, CA 92025 (760) 233-2330 LA JOLLA BANK By. - - Ro-er W. Loveless Title: Assistant Vice President La Jolla Bank (Off --site Improvements) Assignment ASSIGNMENT to Assignor, Adobe Holdings, Inc., whose address is P.O. Box 1396, La Quinta, California 92247-1396, hereinafter called ASSIGNOR, do (does) hereby assign and set over the amount of $229,179.00 in Account No. 0651037973 at la Jolla Bank, whose address is 78010 main Street, Suite 100, La Quinta, California 92253 and all right, title and interest of whatever nature there to the Assignee, City of La Quinta, Public Works Department, 78- 495 Calle Tampico, La Quinta, California 92253, hereinafter referred to as ASSIGNEE. The passbook, or other evidence of account is delivered herewith. Assignor agrees that this assignment carries with the right in the insurance of the account by the FDIC and gives the right to the Assignee to redeem, collect and withdraw the assigned amount of such account at anytime WITHOUT NOTICE TO ASSIGNOR. (The assignment is given as security for the payment of all bills, statements or charges for any services furnished or rendered at any time from and after August 14, 2006, and at any and all premises at which service has been or may be ordered or contracted for by the Assignor. Assignor hereby notifies La Jolla Bank of this assignment. Dated this day of '2006, at California. ADOBE OL INGS, INC., As By: Rehert E. Rippe, President FIRST ENDORSEMENT- RECEIPT FOR NOTICE OF ASSIGNMENT Receipt is hereby acknowledged to the Assignee above of written notice of the assignment in the amount of $299,179.00 to said Assignee of the account identified above. We have noted in our records the Assignee's interest in said account as shown by above assignment and have retained a copy of this sheet. We certify that we are holding the assigned amount and have received no notice of any lien, encumbrance, hold, claim or obligation of the above -identified account prior to the assignment above. We agree to make this payment to the Assignee upon written request in accordance with the savings and loan laws applicable to this association. Assignee shall hold La Jolla Bank harmless for any and all actions taken in connection with said assignment and shall indemnify La Jolla Bank for any and all liabilities incurred in connection herewith. Dated this day of 2006, at California. La Jolla Bank By. 724 7 — (sign�turero�f Officer) Title: SECOND ENDORSEMENT— RECEIPT FOR SECURITY AND DIRECTION TO PAY EARNINGS Receipt is acknowledged of the above assignment and the account identified in the above assignment. La Jolla Bank is hereby authorized and directed to pay any earnings on the above -identified account to the above named assignor so long as sufficient funds remain on deposit to pay the assigned amount. Dated this day of , 2006, at , California. CITY OF LA QUINTA, ASSIGNEE By: By: La Jolla Bank to Jolla Bank 390 West Valley Parkway Escondido, California 92253 (760) 233-2330 August 14, 2006 IRREVOCABLE STANDBY LETTER OF CREDIT NO. 24 (Off -Site Labor & Materials Beneficiary: Amount: $229,179.00 City of La Quinta Public Works Department 78495 Calle Tampico La Quinta, California 92253 To Beneficiary We hereby establish our irrevocable Standby Letter of Credit in your favor, by order of Adobe Holdings, Inc., P.O. Box 1396, La Quinta, CA 92247-1396 The amount set forth above will be available to you by submission of your Sight Draft(s), through proper clearing channels (consult your bank), accompanied by this original Letter of Credit and Beneficiary's officially -signed statement certifying that: Adobe Holdings, Inc. has failed to pay for offsite labor and materials used for the construction of public and private street, drainage, utility, landscaping and other improvements required to be constructed under City of La Quinta Subdivision Improvement Agreement (OFF -SITE IMPROVEMENTS) for Tract 31249, and that Adobe Holdings, Inc. has been notified in writing of the failure to perform at least ten (10) days prior to drawing(s). This Letter of Credit guarantees that all or any portion of the funds available pursuant to Letter of Credit No. 24 will be paid upon the written demand of the City and that such written demand need not present documentation of any type as a condition of payment, including proof of loss. Each draft, payable at sight, must state on its face, "Drawn under La Jolla Bank Letter of Credit No. 24 dated August 14, 2006. " This letter of credit shall remain valid until August 30, 2007, or any extended date. It being a condition of this irrevocable letter of credit that it be automatically extended for an additional period of one year from the present or any future expiration date unless sixty days prior we notify the City of La Quinta and the City authorizes its expiration, or until sixty (60) days after the City receives notice from La Jolla Bank of intent to allow expiration of the letter of credit. Drafts may not be presented for purposes, after expiration of the Letter. This Letter of Credit is transferable only upon our prior approval and payment of an appropriate transfer fee. We hereby agree to duly honor drafts properly drawn on, and in strict compliance with the terms of, this Letter of Credit, on presentation during normal business hours to this bank at 390 West Valley Parkway, Escondido, California 92025, ATTN: Loan Processing Department This Letter of Credit is subject to the law of the rules pertaining to Uniform Customs and Practice for Documentary Credits (ICC Publication #500,1993 revision). TO BE VALID, THIS LETTER OF CREDIT MUST BE SIGNED BY TWO OF THIS BANK'S CORPORATE FICERS. LA JOLLA BAN LE/ BY By - - Martin Rodriguez Roger W. Loveless Title: Vice President Title: Assistant Vice President Loan Processing Center 390 West Valley Parkway Escondido, CA 92025 (760) 233-2330 La Jolla Bank (Off -site Labor & Materials) Assignment ASSIGNMENT to Assignor, Adobe Holdings, Inc., whose address is P.O. Box 1396, La Quinta, California 92247-1396, hereinafter called ASSIGNOR, do (does) hereby assign and set over the amount of $229,179.00 in Account No. 0651037974 at la Jolla Bank, whose address is 78010 main Street, Suite 100, La Quinta, California 92253 and all right, title and interest of whatever nature there to the Assignee, City of La Quinta, Public Works Department, 78495 Calle Tampico, La Quinta, California 92253, hereinafter referred to as ASSIGNEE. The passbook, or other evidence of account is delivered herewith. Assignor agrees that this assignment carries with the right in the insurance of the account by the FDIC and gives the right to the Assignee to redeem, collect and withdraw the assigned amount of such account at any time WITHOUT NOTICE TO ASSIGNOR. (The assignment is given as security for the payment of all bills, statements or charges for any services furnished or rendered at any time from and after August 14, 2006, and at any and all premises at which service has been or may be ordered or contracted for by the Assignor. Assignor hereby notifies La Jolla Bank of this assignment. Dated this day of ,2006, at ,Califomia. ADO H IN Mi By Robert E. Rippe, Preside FIRST ENDORSEMENT- RECEIPT FOR NOTICE OF ASSIGNMENT Receipt is hereby acknowledged to the Assignee above of written notice of the assignment in the amount of $299,179.00 to said Assignee of the account identified above. We have noted in our records the Assignee's interest in said account as shown by above assignment and have retained a copy of this sheet. We certify that we are holding the assigned amount and have received no notice of any lien, encumbrance, hold, claim or obligation of the above -identified account prior to the assignment above. We agree to make this payment to the Assignee upon written request in accordance with the savings and loan laws applicable to this association. Assignee shall hold La Jolla Bank harmless for any and all actions taken in connection with said assignment and shall indemnify La Jolla Bank for any and all liabilities incurred in connection herewith. Dated this La Jolla Bank day of 12006, at California. B: (s' na of Officer) Title: V SECOND ENDORSEMENT— RECEIPT FOR SECURITY AND DIRECTION TO PAY EARNINGS Receipt is acknowledged of the above assignment and the account identified in the above assignment. La Jolla Bank is hereby authorized and directed to pay any earnings on the above -identified account to the above named assignor so long as sufficient funds remain on deposit to pay the assigned amount. Dated this day of , 2006, at , California. CITY OF LA QUINTA, ASSIGNEE By: By: "trcA T4tt 4 PUBLIC WORKS/ENGINEERING DEPARTMENT F 9� INTEROFFICE MEMORANDUM orx� TO: June Greek, City Clerk FROM: Ali Anthony,Colarossi, Assistant Engineer I VIA: �16imothy R. Jonasson, Public Works Director / City Engineer SUBJECT: TM 31249, The Village at Coral Mountain DATE: October 10, 2005 The City Engineer has approved a Fugitive Dust Control Plan (Plan Set No. 05018) for the subject project. The developer is requesting to place a Fugitive Dust Control Bond with the City. The bond encompasses 33.3 acres on TM 31249. The permit number for Clear and Grub is 4357. The developer is in the process of placing a 25% security deposit with the finance department, see attached copy. Please find the following enclosed: 1. Fugitive Dust Control Bond Performance: = $ 49,950.00 Bond No.: = SU5013662 Surety Company: = Arch Insurance Company 2. Copy of 25% Security Deposit currently going through city approval. If you have any questions, please contact me at extension 7089. Thank You. T:\PWDEPT\STAFF\Colarossi\Deposits_bond_Icredit\The Village at Coral Mnt TM 31249\PM10 Bond.doc 60O p17, FAITHFUL PERFORMANCE BOND (LQMC 6.16) Fugitive Dust Control Bond BOND NUMBER: SU5013662 PREMIUM: $999.00 PREMIUM PER ANNUM WHEREAS, the City of La Quinta, California, is prepared to authorize CORAL R I DGE, LLC, A CAL I FORN I A LIMITED LIABILITY COMPANY , as Principal, to proceed with certain construction activities pursuant to one, or more permits issued by the City, for various infrastructure improvements and/or structures on, or associated with, privately -owned property generally known to the City and others as � I _ A 31 Z`- C� THE VILLAGE AT CORAL MOUNTAIN ;and WHEREAS, all such construction and demolition activities must be performed in such manner as to conform with La Quinta Municipal Code, Chaper 6.16, entitled Fugitive Dust Control to reduce fugitive dust and corresponding PM10 emissions; and WHEREAS, said Principal is required by LQMC 6.16.050(A)(4) to ensure that Fugitive Dust Control Plan # 05018 , prepared specifically for the subject construction site, is financially secure by furnishing security for the faithful performance of the dust control activitities required in the Fugitive Dust Mitigation Plan. NOW, therefore, we the Principal and ARCH INSURANCE COMPANY as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal sum of FORTY-NINE THOUSAND NINE HUNDRED FIFTY & NO/100--- Dollars ($ 49,950.00--- ) 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 obligaton secured hereby and in addition to the face amount specified therefor, 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 judgement 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 thereunder 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 F211 Fugitive Dust Control Bond Fugitive Dust Control Plan # 05018 Page 2 of 2 In witness whereof, this instrument has been MARCH 14 2005. (Seal) exec�f fd �� ll ie Principal and Surety above named, on A� 4L`RALO`.F7R I It LIABILITY COMPANY I EH INE DELOPMENT CO., AS MEMBER 1"4rtn Signature of Principal PAUL M. EHLINE, PRESIDENT Title of Signatory ARCH INSURANCE C0 ANY Surat• (Seal) Signat re of Surety TODD M. ROHM, ATTORNEY -IN -FACT Title of Signatory 135 N. LOS ROBLES AVENUE #825 PASADENA, CA 91101 Address of Surety 626-639-5200 Phone # of Surety MIKE CUNDIFF Contact Person For Surety F211 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of CALIFORNIA County of ORANGE On SEPTEMBER 15, 2005 DATE before me, CYNTHIA S. WOZNEY, NOTARY PUBLIC NAME, TfTLE OF OFFICER - E.G., -JANE DOE, NOTARY PUBLIC' personally appeared TODD M. ROHM NAME(S) OF SIGNER(S) ® personally known to me - OR to be the person(&) whose name(s) is/aDy subscribed to the within instrument and ac- knowledged to me that he/skaft1W executed the same in his/JxmfthNx authorized capacity(), and that by his/mix S' .Wry.. KIF� signature(s) on the instrument the person 41, or the entity upon behalf of which the rry .q fk~ P)grit; t personM acted executed the instrument. WITNESS my hand and official seal. OF NOTARY OPTIONAL Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER ❑ INDIVIDUAL ❑ CORPORATE OFFICER TM E(S) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL ® ATTORNEY -INTACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR ❑ OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S) OR ENTI TY(IES) ARCH INSURANCE COMPANY DESCRIPTION OF ATTACHED DOCUMENT BOND TWO TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES MARCH 14 200 DATE OF DOCUMENT SIGNER(S) OTHER THAN NAMED ABOVE POWER OF ATTORNEY Know All Men By These Presents: That the Arch Insurance Company, a corporation organized and existing under the laws of the State of Missouri, having its principal office in Kansas City, Missouri (hereinafter referred to as the "Company") does hereby appoint Todd M. Rohm, Cathy S. Kennedy, Sejal P. Lange, D. J. Picard and Beata A. Sensi of Orange, CA (EACH) its true and lawful Attomey(s}in-Fact, to make, execute, seal, and deliver from the date of issuance of this power for and on its behalf as surety, and as its act and deed: Any and all bonds and undertakings EXCEPTION: NO AUTHORITY is granted to make, execute, seal and deliver bonds or undertakings that guarantee the payment or collection of any promissory note, check, draft or letter of credit. This authority does not permit the same obligation to be split into two or more bonds in order to bring each such bond within the dollar limit of authority as set forth herein. The Company may revoke this appointment at any time. The execution of such bonds and undertakings in pursuance of these presents shall be as - binding upon the said Company as fully and amply to all intents and purposes, as if the same had"beeri duty execrated and acknowledged by its regularly elected officers at its principal office in Kansas City, Missouri. This Power of Attorney is executed by authority of resolutions adopted by unanimous consent of the Board of Directors of the Company on March 3, 2003, true and accurate copies of which are hereinafter set forth and are hereby certified to by the undersigned Secretary as being in full force and effect: "VOTED, That the Chairman of the Board, the President, or any Vice President, or their appointees designated in writing and filed with the Secretary, or the Secretary shall have the power and authority to appoint agents and attorneys -in -fact, _ and to authorize them to execute on behalf of the Company, and attach the seal of the Company thereto, bonds and undertakings, recognizances, contracts of indemnity and other writings, obligatory in the nature thereof, and any such officers of the Company may appoint agents for acceptance of process." This Power of Attorney is signed, sealed and certified by facsimile under and by authority of the following resolution adopted by the unanimous_ consent of the Board of Directors of the Company. on March 3, 2003: VOTED, That the signature of the Chairman of the Board, the President, or any Vice President, or their appointees designated in writing and filed with the Secretary, and the signature of the Secretary, the seal of the Company, and certifications by the Secretary, may be affixed by facsimile on any power of attomey or bond executed pursuant to the resolution adopted by the Board of Directors on March 3, 2003, and any such power so executed, sealed and certified with respect to any bond or undertaking to which it is attached, shall continue to be valid and binding upon the Company. OOML0013 00 03 03 Page 1 of 2 Printed in U.S.A. In Testimony Whereof, the Company has caused this instrument to be signed and its corporate seal to be affixed by their authorized officers, this 1st _ day of April , 20 03 Attested and Certified haY-ance O � 4 COR? MTE � v SEAI ►6f 1f77 {.. rlssatlrl Joseph S. L691, Corporate Secretary STATE OF CONNECTICUT SS COUNTY OF FAIRFIELD SS Arch Insurance Company V_:A� 11,4�5�11-,Ale_ - Thomas P. Luckstone, Vice President I Melissa B. Gilligan, a Notary Public, do hereby certify that Thomas P. Luckstone and Joseph S. Labell personally known to me to be the same persons whose names are respectively as Vice President and Corporate Secretary of the Arch Insurance Company, a Corporation organized and existing under the laws of the State of Missouri, subscribed to the foregoing instrument, appeared before me this day in person and severally acknowledged that they being thereunto duly authorized signed, sealed with the corporate coal and delivered the said instrument as the free and voluntary act of said corporation and as their own free and voluntary acts for the uses and purposes therein set forth. OrFlOk SEAL MELSSA B. G UGd N. flotxy Pubk St* Of coffloacr,t Melissa B. G7ligan, Notary Public Gorrurrission Expires February 26, 2005 My commission expires 2-28-05 CERTIFICATION I, Joseph S. Labell, Corporate Secretary of the Arch Insurance Company, do hereby certify that the attached Power of Attorney dated April 1, 2003 on behalf of the person(s) as listed above is a true and correct copy and that the same has been in full force and effect since the date thereof and is in full force and effect on the date of this certificate; and I do further certify that the said Thomas P. Luckstone, who executed the Power of Attorney as Vice President, was on the date of execution of the attached Power of Attorney the duly elected Vice President of the Arch Insurance Company. IN TESTIMONY WHEREOF. I have hereunto subscribed my name and affixed the corporate seal of the Arch Insurance Company on this 14TH day of MARCH 12005 Joseph S ell, Corporate Secretary This Power of Attorney limits the acts of those named therein to the bonds and undertakings specifically named therein and they have no authority to bind the Company except in the manner and to the extent herein stated. ��tartce C CORPORATE 'O SPAE RS lfll {.. �ISiOtlfi 1 Horne Office: Kansas City, MO OOML0013 00 03 03 Page 2 of 2 Printed in U.S.A. ARCH Insurance Company NOTICE — DISCLOSURE OF TERRORISM PREMIUM ARCH Surety In accordance with the Terrorism Risk Insurance Act of 2002, we are providing this disclosure notice for bonds on which Arch Insurance Company is the surety. DISCLOSURE OF PREMIUM The portion of the premium attributable to coverage for terrorist acts certified under the Act is Zero Dollars ($0.00). DISCLOSURE OF FEDERAL PARTICIPATION IN PAYMENT OF TERRORISM LOSSES The United States will pay ninety percent (90%) of covered terrorism losses exceeding the applicable insurer deductible. ce PUBLIC WORKS/ENGINEERING DEPARTMENT INTEROFFICE MEMORANDUM TO: June Greek, City Clerk FROM: Anthony Colarossi, Assistant Engineer I VIA: Timothy R. Jonasson, Public Works Director / City Engineer SUBJECT: PM 10 and Rough Grading Bond, TM 31249 The Village at Coral Mountain DATE: October 25, 2005 History A fugitive dust control bond has been provided to the city for the above subject project on October 10, 2005. Bond information is as follows: Fugitive Dust Control Bond Performance: _ $ 49,950.00 Bond No.: = SU5013662 Present The City Engineer has approved a Rough Grading Plan (Plan Set No. 05176) for the subject project. The developer is requesting to place a Fugitive Dust Control Cash Deposit (Insured Account) with the City and a Rough Grading Bond. Please find the following enclosed: 1. PM 10 Insured Account Number: Account Amount: Bank Name: 2. Grading Bond Number: Performance: Surety: 801362393 $16,650.00 PFF SU5017775 $139,150.00 ARCH INSURANCE COMPANY If you have any questions, please contact me at extension 7089. Thank You. T:\PWDEPT\STAFF\COLAROSSI\Deposits_bond_Icredit\The Village at Coral Mnt TM 31249\pm10 CASH—RG BOND.doc ASSIGNMENT AS SEC.I.ITPRIGINAL C(DpV FOR PAYMENT OF ALL BILLS STATEMENTS OR CHARGES FOR ANY SERVICES: ASSIGNMENT to Coral Ridge, LLC (Name of Assignor) whose principal address is 78900 Avenue 47 Ste 102 La Quinta CA 92253 _ (Street Address) (City) (State) (Zip Code) hereinafter called ASSIGNOR, do (does) hereby assign and set over the amount of $ 16,650.00 in insured Account No. 801362393 at the PFF Bank & Trust (Name of Savings Institution) whose address is78752 Highway 111 (Street Address) La Quinta CA 92253 , and all right, title and interest of whatever nature (State) (Zip Code) thereto to the City of La Quinta (Name of Assignee) whose address is 78495 Calle Tampico La Quinta Ca 92253 (Street Addsessl (City) (State.) (Zip cork-) hereinafter referred to as the ASSIGNEE. The accountbook, or other evidence of account is delivered herewith. Assignor agrees that this assignment carries with it the right in the insurance of the account by the Federal Deposit Insurance Corporation and gives the right to the Assignee to redeem, collect and withdraw the assigned amount of such account at any time WITHOUT NOTICE TO ASSIGNOR. This assignment is given as security for the payment of all bills, statements or charges for any services furnished or rendered at any time from and after March 15 12005 and at any and all premises at which service has been or may be (Month) (Day) (Year) ordered or contracted for by the Assignor. Assignor hereby notifies the above -named Savings Dated this 15th day of March , ion of this assignment. , at 1.9a Quinta , California. --------------------------------------------------------------------------------------------------------------------- FIRST ENDORSEMENT — RECEIPT FOR NOTICE OF ASSIGNMENT Receipt is hereby acknolwedged to the Assignee above of written notice of the assignment in the amount of $ 16,650.00 to said Assignee of the account identified above. We have noted in our records the Assignee's interest in said account as shown by the above assignment and have retained a copy of this sheet. We certify that we are holding the assigned amount and have received no notice of any lien, encumbrance, hold, claim, or obligation of the above -identified account prior to the assignment above. We agree to make payment to the Assignee upon written request in accordance with the savings institution laws applicable to this institution. Dated this 15th day of March , 2005 at La Quinta , California. PFF Bank & Trust (Name of Savings Institution) 78752 Hiahwav 111 (Street nta CA (Si8tu) 011n,,91 (-IpLn^{j By Title Financial Services Officer (ignafu officer ings Insfltut3on) SECOND END RSEME — RECEIPT FOR SECURITY AND DIRECTION TO PAY EARNINGS Receipt is acknowledgel of the ab,6ve assignment and the account identified in the above assignment. The savings institution named in the ab ve assl4nment is hereby authorized and directed to pay any earnings on the above -identified account to the above -named assignor so long as sufficient funds remain on deposit to pay the assigned amount. Dated this day of , at (Assignee) By , California. 1094 Assignment as Security dot (8/99) By City of La Quinta CITY COUNCIL MEETING: February 15, 2022 STAFF REPORT AGENDA TITLE: APPROVE ON-SITE AND OFF-SITE REPLACEMENT SUBDIVISION IMPROVEMENT AGREEMENTS FOR TRACT MAP NO. 31249, CANTERA, A RESIDENTIAL DEVELOPMENT LOCATED ON THE SOUTH SIDE OF AVENUE 58 WEST OF MADISON STREET RECOMMENDATION Approve the On-Site and Off-Site Replacement Subdivision Improvement Agreements for Tract Map No. 31249 and authorize the City Manager to execute said agreements. EXECUTIVE SUMMARY •In 2006, the original developer of this tract, Adobe Holdings, Inc., recorded a final map and executed on-site and off-site Subdivision Improvement Agreements (SIAs). During the economic downturn, they lost the property through foreclosure after completing some, but not all, of the improvements. •Beazer Homes Holdings, LLC (New Developer) has recently acquired interest in the property and desires to enter into replacement of on-site and off-site SIAs and bonds for the design and construction of the remaining public and private improvements associated with this tract. •The replacement SIAs and bonds will ensure construction and acceptance of the remainder of the improvements for this tract. FISCAL IMPACT – None BACKGROUND/ANALYSIS Tract Map No. 31249 is a residential development located at the south side of Avenue 58 west of Madison Street (Attachment 1). Some of the on-site improvements have been installed, including storm drain, water, sewer, curb and gutter and rough grading. No homes have been built in the tract. No off- site improvements were constructed. Staff has reviewed the on-site and off-site improvement plans from the New Developer. The remaining on-site improvements include sewer, water, street, walls, dry utilities, landscaping, and setting monumentation. The remaining off- site improvements include installing storm drain, street, power pole relocations, multi-use trail, signing and striping, landscaping, and setting monumentation. The attached replacement SIAs (Attachment 2) replace Adobe Holdings, Inc., CONSENT CALENDAR ITEM NO. 4 47 with Beazer Homes Holdings, LLC as obligee for the construction and guarantor of the remaining on-site and off-site improvements. 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. Replacement Subdivision Improvement Agreements (On-Site and Off-Site) 48 TM 31249 CANTERA V I C I N I T Y M A P NOT TO SCALE ATTACHMENT 1 49