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31249 Beazer Homes Holdings, LLC - OBR & Released BondsOUTSTANDING BOND REPORT Tract Number: 31249 Development: Cantera (Prev. Village at Coral Mountain) Developer/Owner: Beazer Homes (Prev. Adobe Holdings) Bond Company: Federal Insurance Co; Atlantic Specialty Insurance Outstanding / Released Bonds: Bond Type Bond No. Amount: Date Replaced or Released Performance – Off-Site K40337325 $914,761 Released 01/23/2026 Labor & Materials – Off-Site K40337325 $914,761 Performance – On-Site K40337350 $2,842,577 Released 01/23/2026 Faithful Performance – Off-site Street 800056302 $730,907.80 Released 01/23/2026 Labor & Materials – Off-site Street 800056302 $730,907.80 Fugitive Dust Control (PM10) 0799577 $49,815 Released 12/09/2025 Grading 0799576 $105,192 Released 07/13/2023 (original bond was not located at time of release but was found and mailed back to the Developer with the PM10 release) Warranty 800056302M $70,166 ta QaNtra CALIFORNIA M E-M-OF A N-DAJ-M- Date: January 21, 2026 To: Monika Radeva, City Clerk Via: Bryan McKinney, P.E., Public Works Director / City Engineer From: Amy Yu, Associate Engineer Re: TM 31249, Cantera, Bond Release and Retain Warranty Bond Please release the following bonds held in your files for the above referenced tract. The performance bonds are to be released now and the labor & materials bonds are to be released on April 20, 2026 (90 days after City Council acceptance of the improvements). The off -site and on-stie improvements were accepted by City Council on January 20, 2025. The bond amounts and the address to the developer and surety company are as follows: Tract Map No. 31249 Bond Description Bond No. Bond Amount Performance K40337325 $914,761 Labor & Materials K40337325 $914,761 Performance K40337350 $2,842,577 Performance 800056302 $730,907.80 Labor & Materials 800056302 1 $730,907.80 Please retain the attached Warranty Bond for the above referenced project for off -site improvements. Warranty Bond Number Warranty Security 800056302M $70,166 Developer: Billy Aguirre Beazer Homes Holdings, LLC 310 Commerce, Suite 150 Irvine, CA 92602 Surety Company: Federal Insurance Company 555 S. Flower St, 3rd Floor Los Angeles, CA 90071 Attn: Janette Fu Surety Company: Atlantic Specialty Insurance Company 222 South Harbor Blvd., Suite 900 Anaheim, CA 92805 Attn: Patrick Benedict If -Mu -have City of La Quinta CITY COUNCIL MEETING: January 20, 2026 STAFF REPORT AGENDA TITLE: ACCEPT OFF-SITE AND ON-SITE IMPROVEMENTS ASSOCIATED WITH THE CANTERA RESIDENTIAL DEVELOPMENT, TRACT MAP NO. 31249, LOCATED ON THE SOUTH SIDE OF AVENUE 58, WEST OF MADISON STREET RECOMMENDATION Accept the off-site and on-site improvements associated with Tract Map No. 31249, Cantera; authorize staff to release performance securities; and direct staff to release the labor and materials security 90 days after Council acceptance of the improvements. EXECUTIVE SUMMARY •Cantera is a residential development project located on the south side of Avenue 58 west of Madison Street (Attachment 1). •Beazer Homes Holdings, LLC (Developer) has requested release of the performance, labor and materials securities. •Staff has verified satisfactory completion of the off-site and on-site improvements and recommends acceptance, and release of the performance, labor and materials securities. FISCAL IMPACT – None. BACKGROUND/ANALYSIS The Developer has completed all off-site and on-site improvements required by Tract Map No. 31249. The improvements include pavement, curb and gutter, signing and striping, storm drain, driveways, sidewalk, multi-use trail, power poles relocation, water, sewer, dry utilities, landscaping, and setting monumentation. Staff inspected the off-site and on- site improvements and verified they meet City-approved plans and standards. CONSENT CALENDAR ITEM NO. 8 53 ALTERNATIVES Accepting improvements is a ministerial action necessary for the release of the improvement securities. Since the improvements have been inspected and meet City standards, staff does not recommend an alternative action. Prepared by: Amy Yu, Associate Engineer Approved by: Bryan McKinney, P.E., Public Works Director/City Engineer Attachment: 1. Vicinity Map 54 TM 31249 CANTERA V I C I N I T Y M A P NOT TO SCALE ATTACHMENT 1 55 January 23, 2026 Billy Aguirre Beazer Homes 310 Commerce, Suite 150 Irvine, CA 92602 RE: TRACT MAP 31249 CANTERA – RELEASE OF BONDS To Whom it May Concern: Per authorization of the City of La Quinta Public Works Department, the City Clerk’s Office has hereby released the following bonds and notified Federal Insurance Company and Atlantic Specialty Insurance Company on 01/23/2026. Bond Number Bond Amount Bond Type K40337325 $914,761 Performance (Off-Site) K40337350 $2,842,577 Performance (On-Site) 800056302 $730,907.80 Faithful Performance (Off-Site) The original paper bonds are enclosed. Please do not hesitate to contact me should you have any questions. Sincerely, Olivia Rodriguez, Deputy City Clerk Email: ORodriguez@LaQuintaCA.gov Tel: (760) 777 - 7162 January 23, 2026 Federal Insurance Company 555 S. Flower St, 3rd Floor Los Angeles, CA 90071 Attn: Janette Fu RE: TRACT MAP 31249 CANTERA – RELEASE OF BONDS To Whom it May Concern: Per authorization of the City of La Quinta Public Works Department, the City Clerk’s Office hereby releases the following bonds: Bond Number Bond Amount Bond Type K40337325 $914,761 Performance (Off-Site) K40337350 $2,842,577 Performance (On-Site) A copy of the bonds being released are enclosed for your reference. Beazer Homes, the developer, was also notified of the above bonds release on 01/23/2026. Please do not hesitate to contact me should you have any questions. Sincerely, Olivia Rodriguez, Deputy City Clerk Email: ORodriguez@LaQuintaCA.gov Tel: (760) 777 - 7162 January 23, 2026 Atlantic Specialty Insurance Company 222 South Harbor Blvd., Suite 900 Anaheim, CA 92805, CA 92805 Attn: Patrick Benedict RE: TRACT MAP 31249 CANTERA – RELEASE OF BOND To Whom it May Concern: Per authorization of the City of La Quinta Public Works Department, the City Clerk’s Office hereby releases the following bond: Bond Number Bond Amount Bond Type 800056302 $730,907.80 Faithful Performance (Off-Site) A copy of the bond being released is enclosed for your reference. Beazer Homes, the developer, was also notified of the above bond release on 01/23/2026. Please do not hesitate to contact me should you have any questions. Sincerely, Olivia Rodriguez, Deputy City Clerk Email: ORodriguez@LaQuintaCA.gov Tel: (760) 777 - 7162 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 MEMORANDUM Date: December 8, 2025 To: Monika Radeva, City Clerk Via: Bryan McKinney, P.E., Public Works Director / City Engineer From: Amy Yu, Associate Engineer Re: Cantera, TM 31249, Dust Control Bond Release Please release the following dust control bond held in your files for the above referenced tract. All work for this tract has been completed. The dust control bond amount and the address to the developer and surety company are as follows: Bond Description Bond No.Bond Amount PM-10 Dust Control 0799577 $49,815 Tract Map No. 31249 Developer: Billy Aguirre Beazer Homes 310 Commerce, Suite 150 Irvine, CA 92602 Surety Company: Harco National Insurance Company 2400 East Katella Ave, Suite 250 Anaheim, CA 92806 Attn: Steve Kane If you have any questions, please contact me at extension 7047. Thank You. December 9, 2025 Billy Aguirre Beazer Homes 310 Commerce, Suite 150 Irvine, CA 92602 RE: TRACT MAP 31249 CANTERA – RELEASE OF BOND To Whom it May Concern: Per authorization of the City of La Quinta Public Works Department, the City Clerk’s Office has hereby released the following bonds and notified HARCO National Insurance Company on 12/09/2025. Bond Number Bond Amount Bond Type 0799577 $49,815 PM-10 Dust Control The original paper bond is enclosed. Also enclosed is the original paper bond for Grading Bond No. 799576, which was officially released on July 13, 2023. At the time of the bond’s release, the City was unable to locate the original paper bond; however, it has since been found and is enclosed. Please do not hesitate to contact me should you have any questions. Sincerely, Olivia Rodriguez, Deputy City Clerk Email: ORodriguez@LaQuintaCA.gov Tel: (760) 777-7162 December 9, 2025 HARCO National Insurance Company 2400 East Katella Avenue, Suite 250 Anaheim, CA 92806 Attn: Steve Kane RE: TRACT MAP 31249 CANTERA – RELEASE OF BOND To Whom it May Concern: Per authorization of the City of La Quinta Public Works Department, the City Clerk’s Office hereby releases the following bond: Bond Number Bond Amount Bond Type 0799577 $49,815 PM-10 Dust Control A copy of the bond being released is enclosed for your reference. Beazer Homes, the developer, was also notified of the above bonds release on 12/09/2025. Please do not hesitate to contact me should you have any questions. Sincerely, Olivia Rodriguez, Deputy City Clerk Email: ORodriguez@LaQuintaCA.gov Tel: (760) 777 - 7162 FAITHFUL PERFORMANCE BOND (LQMC 6.16) Bond No. 0799577 Premium: $308.00 Fugitive Dust Control Bond WHEREAS, the City of La Quinta, California, is prepared to authorize Beazer Homes Holdings, LLC, a Delaware limited liability company, as Principal, to proceed with certain construction activities pursuant to one, or more permits issued by the City, forvarious infrastructure improvements and/or structures on, or associated with, privately -owned property generally known to the City and others as Cantera at Coral Mountain, Tract Map 31249; 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 Controito reduce fugitive dust and corresponding PM10 emissions; and WHEREAS, said Principal is required to ensure that Fugitive Dust Control Permit # 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. NOW therefore, we the Principal and Harco National 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 Eight Hundred Fifteen and NO/100 Dollars ($49,815.00) 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 # Page 2 of 2 In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on July 15, 2021. Beazer Homes Holdings, LLC, a Delaware limited liability company Princi al (Seal) Signature of Principal Title of Signatory _VI M IRV \)ft Harco National Insurance Company Surety (Seal) Signature Surety Tracy Aston, Attorney -in -Fact Title of Signatory 2400 East Katella Avenue, Suite 250 Anaheim, CA 92806 Address of Surety 657-304-2591 Phone # of Surety Steve Kane Contact Person For Surety T Drive/Checklists — Forms & Applications/Standard Dust Control Bond Form 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 On JUL 15 _-2021 before me, Ethan Spector, Notary Public , personally appeared Tracy Aston who proved to me on the basis of satisfactory evidence to be the person(g) whose name(8) is/me subscribed to the within instrument and acknowledged to me that he/she/they executed the same in hio/her/tom authorized capacity(ios), and that by hio/her/ signature(s) 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. ETHAN SPECTOR S Notary Public - CaliforniaJ Los Angeles County Commission # 2308417 4 Boa"' My Comm. Expires Oct 11, 2023 —� Signature Signature of Notary Public 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 7/16/2021 Date personally appeared before me, Courtney N. Ziolkowski, Notary Public Here Insert Name and Title of the Officer James Prewett Names of Signer who proved to me on the basis of satisfactory evidence to be th person whose nam ftQa�e e s bs;/th�r ib to the within instrument and acknoedged to me that h sl%/th� executed the h /h authorized capacityO, and that byg�i /F%r/the signatur oN e I strument the persons o the entity upon behalf of which the personae Pled, execu ed the instrument. COURTNEY N. ZIOLKOWSKI _ Notary Public - California Orange County s_ Commission M 2304094 0-My Comm. Expires Sep 6, 2023 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. II � Signature I V v Signature of Notary Public Place Notary Seal Above 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: POWER OF ATTORNEY Bond # HARCO NATIONAL INSURANCE COMPANY INTERNATIONAL FIDELITY INSURANCE COMPANY Member companies of IAT Insurance Group, Headquartered: 4200 Six Forks Rd, Suite 1400, Raleigh, NC 27609 KNOW ALL MEN BY THESE PRESENTS: That HARCO NATIONAL INSURANCE COMPANY, a corporation organized and existing under the laws of the State of Illinois, and INTERNATIONAL FIDELITY INSURANCE COMPANY, a corporation organized and existing under the laws of the State of New Jersey, and having their principal offices located respectively in the cities of Rolling Meadows, Illinois and Newark, New Jersey, do hereby constitute and appoint NATHAN VARNOLD, SAMANTHA FAZZINI, DONNA GARCIA, TRACY ASTON, ASHRAF ELMASRY, MARINA TAPIA, KID WAPATO, EDWARD C. SPECTOR, TOM BRANIGAN, PAUL RODRIGUEZ, SIMONE GERHARD, ROSA E. RIVAS, B. ALEMAN, LISA K. CRAIL Los Angeles, CA their true and lawful attomey(s)-in-fact to execute, seal and deliver for and on its behalf as surety, any and all bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be allowed, required or permitted by law, statute, rule, regulation, contract or otherwise, and the execution of such instrument(s) in pursuance of these presents, shall be as binding upon the said HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY, as fully and amply, to all intents and purposes, as if the same had been duly executed and acknowledged by their regularly elected officers at their principal offices. This Power of Attorney is executed, and may be revoked, pursuant to and by authority of the By -Laws of HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY and is granted under and by authority of the following resolution adopted by the Board of Directors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting duly held on the 13th day of December, 2018 and by the Board of Directors of HARCO NATIONAL INSURANCE COMPANY at a meeting held on the 13th day of December, 2018. "RESOLVED, that (1) the Chief Executive Officer, President, Executive Vice President, Senior Vice President, Vice President, or Secretary of the Corporation shall have the power to appoint, and to revoke the appointments of, Attomeys-in-Fact or agents with power and authority as defined or limited in their respective powers of attorney, and to execute on behalf of the Corporation and affix the Corporation's seal thereto, bonds, undertakings, recognizances, contracts of indemnity and other written obligations in the nature thereof or related thereto; and (2) any such Officers of the Corporation may appoint and revoke the appointments of joint -control custodians, agents for acceptance of process, and Attomeys-in-fact with authority to execute waivers and consents on behalf of the Corporation; and (3) the signature of any such Officer of the Corporation and the Corporation's seal may be affixed by facsimile to any power of attorney or certification given for the execution of any bond, undertaking, recognizance, contract of indemnity or other written obligation in the nature thereof or related thereto, such signature and seals when so used whether heretofore or hereafter, being hereby adopted by the Corporation as the original signature of such officer and the original seal of the Corporation, to be valid and binding upon the Corporation with the same force and effect as though manually affixed." IN WITNESS WHEREOF, HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY have each executed and attested these presents on this 31st day of December, 2020 Ty STATE OF NEW JERSEY STATE OF ILLINOIS ;gyp; oq��ORq� •. C. c yp S ��f County of Essex County of Cook T: SEAL : 1 �/ = b •. 19 84 Q JE a Kenneth Chapman y ; Executive Vice President, Harco National Insurance Company I .......... and and International Fidelity Insurance Company On this 31st day of December, 2020 , before me came the individual who executed the preceding instrument, to me personally known, and, being by me duly sworn, said he is the therein described and authorized officer of HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY; that the seals affixed to said instrument are the Corporate Seals of said Companies; that the said Corporate Seals and his signature were duly affixed by order of the Boards of Directors of said Companies. �. A: OG".: IN TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal, at the City of Newark, k 9•• < i New Jersey the day and year first above written. o pU9 k- tV JEPkS Shire]le A.Outley a Notary Public of New Jersey �% My Commission Expires April4, 2023 CERTIFICATION I, the undersigned officer of HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Sections of the By -Laws of said Companies as set forth in said Power of Attorney, with the originals on file in the home office of said companies, and that the same are correct transcripts thereof, and of the whole of the said originals, and that the said Power of Attorney has not been revoked and is now in full force and effect. IN TESTIMONY WHEREOF, I have hereunto set my hand on this day, JUL 15 2021 A00494 a _ Irene Martins, Assistant Secretary taQaiara ALIF RN[A MEMORANDUM Date: July 13, 2023 To: Monika Radeva, City Clerk Via: Bryan McKinney, P.E., Public Works Director / City Engineer From: Amy Yu, Associate Engineer Re: Cantera, TM 31249, Grading Bond Release Please release the following grading bond held in your files for the above referenced tract. All grading work for this tract has been completed. The grading bond amount and the address to the developer and surety company are as follows: Tract Map No. 31249 Bond Description Bond No. Bond Amount Grading 799576 $105,192 Developer: Gavin Percy Beazer Homes 310 Commerce, Suite 150 Irvine, CA 92602 Surety Company: Harco National Insurance Company 2400 East Katella Ave, Suite 250 Anaheim, CA 92806 Attn; Steve Kane If you have any questions, please contact me at extension 7047. Thank You. W �GGI'NW CALIFORNIA - July 13, 2023 --- Gavin Percy Beazer Homes 310 Commerce, Suite 150 Irvine, CA 92602 RE: TRACT MAP 31249 CANTERA — RELEASE OF BOND Dear Mr. Percy, Per authorization of the City of La Quinta Public Works Department, the City Clerk's Office has hereby released the following bond and notified Harco National Insurance Company on 7/13/2023. Bond Number Bond Amount Bond Type 799576 1 $105,192 Grading Please note that the City is not able to locate the original paper bonds; however, enclosed for your reference are copies of the released bonds. Please do not hesitate to contact me should you have any questions. Sincerely, Laurie McGinley, Deputy City Clerk Email: LMcGinley(a LaQuintaCA.gov Tel: (760) 777 - 7123 W �GGI'NW CALIFORNIA - July 13, 2023 ----- Harco National Insurance Company 2400 East Katella Ave, Suite 250 Anaheim, CA 92806 Attention: Steve Kane RE: TRACT MAP 31249 CANTERA — RELEASE OF BOND Dear Mr. Kane, Per authorization of the City of La Quinta Public Works Department, the City Clerk's Office hereby releases the following bond: Bond Number Bond Amount Bond Type 799576 1 $105,192 Grading Copies of the bonds being released are enclosed for your reference. Beazer Homes, the developer, was also notified of the above bond release on 07/13/2023. Please do not hesitate to contact me should you have any questions. Sincerely, Laurie McGinley, Deputy City Clerk Email: LMcGinley(a LaQuintaCA.gov Tel: (760) 777 - 7123 FAITHFUL PERFORMANCE BOND (LQMC 8.02.01 & CBC 3311) Bond No. 0799576 Premium: $650.00 Grading Bond WHEREAS, the City of La Quinta, California, is prepared to issue Public Works Grading Permit # in accordance with the La Quinta Municipal Code, and the California Building Code which is adopted by reference, to Beazer Homes Holdings, LLC. Delaware limited liability company,goMpany, 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 Cesar tera at Coral Mountain.Tract Man N�31249; and WHEREAS, Said Principal is required underthe terms of the permitto furnish a bond for the faithful performance of the grading work in accordance with the approved plans, specifications, and permit requirements; or, if the work is abandoned (not completed as required), Principal shall correct or eliminate any hazardous conditions that may exist. NOW, therefore, we the Principal and Harco National Insurance Campanv. as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal sum of One Hundred Eye Thousand One Hundred Ninety Two and N 1100 D Ilars $105 92.00 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 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 theirtrue intent and meaning, and shall indemnify and save harmless the Obligee, its officers, agents and employees, astherein 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 judgment 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 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 permit or to the work or to the specifications, Page 1 of 2 Grading Bond Public Works Grading Permit# Page 2 of 2 In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on July 15 2021. (Seal) Beazer Homes Holdings, LLC, a Delaware limited liabili compan _ Principal Signature of Principal Title of Signatory I-larco National Insurance Company S u rety (Seal) Si natur�of Su g rety Tracy Aston Attom -i - act Title of Signatory 2400 East Katella Avenue, Suite 250 An heim CA 92806 Address of Surety 657-304-2591 Phone # of Surety Steve Kane Contact Person For Surety CALMORNIA 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 On JUL 15 2021 before me, _ Ethan s ector N❑ p,_�.. tart' Public ,personally appeared Trac Aston who proved to me on the basis of satisfactory evidence to be the person(g) whose name(s) is/wo subscribed to the within instrument and acknowledged to me that 1�/she/lhey executed the same in hieItierlgje€ authorized cagacity(i0q), and that by Wher/t signature(a) on the instrument the person(s), or the entity upon behalf of which the persons) acted. executed the instrument_ *my ETRANSPECTOR Notary Pinto - CaitfomiaLos Angeles CountyCommission # 23OU17 Comm. Expires Oct 11. 2023 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 CALIFORNIA• • •. C.. <". 1..< -.< c ...,..."..�-.�.�.�..�. �..-... tee.-..e 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 7/16/2021 before me, Courtney N. Ziolkowski, Notary Public Date Here Insert Name and Title of the Officer personally appeared James Prewett Name of Signer sk who proved to me on the basis of satisfactory evidence to be t p rs n(sl whose name(�,l�s N is rcrib d to the within instrument and acknod ed to me that e/t�y executed the sam in /th ' authorized capacity(ii ), and that by�iis�h t eir signature on the Instrument the person, o the enti upon behalf of which the person( a ed, xe uted the instr ment. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. COURTNEY N. ZIOLKOWSKI WITNESS my hand and official seal. Notary Public - Califonia Orange County _14�4 Commission # 2304084 My Comm. Expires Sep 6, 2023 Signature CtADAMA Signature of Notary Public Place Notary Seal Above 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 ❑ Attomey 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: POWER OF ATTORNEY Bond# ,8(15* HARCO NATIONAL INSURANCE COMPANY INTERNATIONAL FIDELITY INSURANCE COMPANY Member companies of IAT Insurance Group, Headquartered: 4200 Six Forks Rd, Suite 1400, Raleigh, NC 27609 KNOW ALL MEN 9Y THESE PRESENTS: That HARCO NATIONAL INSURANCE COMPANY, a corporation organized and existing under the laws of the State of Illinois, and INTERNATIONAL FIDELITY INSURANCE CDMPANY, a corporation organized and existing under the laws of the State of New Jersey, and having their principal offices located respectively in the cities of Rolling Meadows, Illinois and Newark, New Jersey, do hereby constitute and appoint NATHAN VARNOLD, SAMANTHA FAZZIN1, DONNA GARCIA. TRACYASTON, ASHRAF ELMASRY, MARINA TAP IA, KD WAPATO, EDWARD C. SPECTOR. TOM BRANIGAN, PAUL RODRIGUEZ, SIMONE GERHARD, ROSA E. RIVAS, B. ALEMAR LISA K. CRAIL Los Angeles, CA their true and lawful attomey(s)-in-fact in execute, seal and deliver for and an its behalf as surety, any and all bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be allowed, required or permitted by law, statute, rule, regulation, contract or otherwise, and the execution of such instrument(s) in pursuance of these presents, shall be as binding upon the said HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY, as fully and amply, to all intents and purposes, as if the same had been duly executed and acknowledged by their regularly elected officers at their principal offices. This Power of Attorney is executed, and may be revoked, pursuant to and by authority of the Sy -Laws of HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY and is granted under and by authority of the following resolution adopted by the Board of Directors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting duly held on the 131h day of December, 2018 and by the Board of Directors of HARGO NATIONAL INSURANCE COMPANY at a meeting held on the 13th day of December, 2018_ 'RESOLVED, that (1) the Chief Executive Officer, President. Executive Vice President, Senior Vice President, Vice President, or Secretary of the Corporation shall have the power to appoint, and to revoke the appointments of. Attomeys-in-Fact or agents with power and authority as defined or limited in [heir respective powers of attorney, and to execute on behalf of the Corporation and affix the Corporation's seal thereto, bonds, undertakings, recognizanoes, contracts of indemnity and other written obligations in the nature thereof or related thereto; and (2) any such Officers of the Corporation may appoint and revoke the appointments of joint --control custodlans, agents for acceptance of process, and Attameys-In-fact with authority to execute waivers and consents an behaff of the Corporation; and (3) the signature of any such Officer of the Corporation and the Corporation's seal may be affixed by facsimile to any power of attomey or certification given for the execution of any bond, undertaking, recognizance, contract of indemnity or other written obligation in the nature thereof or related thereto, such signature and seals when so used whether heretofore or hereafter, being hereby adopted by the Corporation as the original signature of such officer and the original seal of the Corporation, to be valid and binding upon the Corporation with the same Force and effect as though manually affixed.' IN WITNESS WHEREOF, HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY have each executed and attested these presents on this 31st day or December, 2020 =r, STATE OF NEW JERSEY P!:ti�sU, U. �t County of Essex STATE OF ILLINOIS �Ox:Qpro•Y�: SEAL County of Cook _ c i a t" = 1904�a �,` =z: SEAL o a U = a = s a+ A• �1 ri � Kenneth Chapman y tlx..... r Executive Vice President, Harco National Insurance Company ...... and International Fidelity Insurance Company On this 31st day of December, 2020 , before me came the individual who executed the preceding instrument, to rile personally known, and, being by me duly sworn, said he is the therein described and authorized officer of HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY; thatthe seals affixed to said instrument are the Corporate Seals of said Companies; that the said Corporate Seals and his signature were duly affixed by order of the Boards of Directors of said Companies- 0 1 IN TESTIMONY WHEREOF, l have hereunto set my hand affixed my Official Seal, at the City of Newark, New Jersey the day and year first above written. ti jV "OTA 'St •' {t1 a°L`qy - �Outley �Pubfic''r,,,111,.�`'�Shir.�ll- a Notary New Jersey CERTIFICATION My Commission Expires April 4, 2023 I, the undersigned officer of HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Sections of the. sy-Laws of said Companies as set forth in said Power of Aftni7 rey, with the originals on file in the home office of said companies, and that the same are correct transcripts thereof, and of the whole of the said originals, and that the said Power of Attorney has not been revoked and is now in fulf-foree and effect. IN TESTIMONY WHEREOF, I have hereunto set my hand on this day, JUL 15,2021 A00494 a., - Irene Martins, Assistant Secretary RELEASED BOND REPORT Tract Number: 31249 Development: Cantera (Prev. Village at Coral Mountain) Developer/Owner: Adobe Holdings, Inc (2005 – 2014) Bond Company: Arch Insurance Released Bonds: Bond Type Bond No. Amount: Date Replaced or Released Fugitive Dust Control (PM10) SU5013662 $49,950 Never Released Grading SU5017775 $139,150 Released 11/20/2008 Fugitive Dust Control (PM10) Assignment of Security – Account No. 801362393 Cash Deposit $16,650 $19,448.81 ($16,650 w/ Interest) Deposited in Insured Account on 03/15/2005 Deposited to City on 03/18/2010 Performance – On-Site LOC #23 $1,950,983 Cancelled upon FDIC Receivership of Bank on 02/19/2010 Performance – Off-site LOC #24 $229,179 Cancelled upon FDIC Receivership of Bank on 02/19/2010 Labor & Materials – Off-site LOC #25 $229,179 Cancelled upon FDIC Receivership of Bank on 02/19/2010 Forest Floor Page 1 of 1 Phyllis Manley To: Tim Jonasson Cc: Amy Yu; 'Jenson, Kathy'; John Falconer; Veronica Montecino; Ed Vvimmer Subject: Letter of Credits for Village at Coral Mountain development FYI - Attached are two letters received today in the mail from FDIC regarding La Jolla Bank going into Receivership and two Letters of Credit for which the City is listed as beneficiary. The LOCs are for onsite and offsite improvements for Tract 31249. The SIA is under the name of Adobe Holdings and the development name is Village at Coral Mountain. Onsite and offsite time extensions were approved by Council on October 20, 2009. I've attached copies of the letter of credits, including LOC #25 for which we have not yet received a letter. According to the letters, the City must file a Proof of Claim in writing to make a claim against the receivership estate. I will place the documents in the Tract 31249 file in the City Clerk Department. Rgllrs iWaaley Deputy City Clerk City of La Quinto (760)777-7010 prnan.leyC�,,la-quinta.org 4/6/2010 FDIC Federal Deposit Insurance Corporation 40 Pacifica, Suite 1000, Irvine, CA 92618 Division of Resolutions and Receiverships April 1, 2010 CERTIFIED MAIL RETURN RECEIPT REQUESTED RECEIPT NO.7009 2820 0001 4711 5100 City of La Quinta 78-495 Calle Tampico La Quinta, CA 92253 Subject: 10185 - La Jolla Bank, FSB La Jolla, CA - In Receivership Closing Date: February 19, 2010 Claim Bar Date: 90 days from date of this letter Standby Letter of Credit No. 24 issued at the request of Adobe Holdings Inc Dear Sir or Madam: The above -captioned institution (the "Institution") was closed on the Closing Date referenced above and the Federal Deposit Insurance Corporation was appointed as receiver of the Institution (the "Receiver"). Under the laws of the United States, the Receiver is charged with the duty of winding up the affairs of the Institution. In order to achieve this goal, the Receiver is given the right under 12 U.C. C. Section 1821(e) to repudiate undertakings entered into by the Institution where it finds such undertakings to be burdensome and where such repudiation will promote the orderly administration of the Institution's affairs. The Institution's records indicate that you may be a beneficiary of a letter of credit as referenced above. The Receiver has determined that the above -described letter of credit is burdensome and that disaffirmance of said letter of credit will promote the orderly administration of the Institution's affairs. The purpose of this letter is to inform you that the Receiver has elected to disaffirm the above -referenced letter of credit to the full extent, if any, that is represents an enforceable obligation of the Institution or the Receiver. You may determine that the Receiver's decision to disaffirm your letter of credit gives you a claim against the receivership estate. If so, you must file a Proof of Claim in writing, together with proof thereof, by the Claims Bar Date referenced in the caption thereof. Under federal law, with certain limited exceptions, failure to file claims by the Claims Bar Date will result in disallowance by the Receiver, the disallowance will be final, and further rights or remedies with regard to claims will be barred. A Proof of Claim form may be obtained by calling (949) 208-6700. If you have any further questions concerning the claims process, you may direct your inquiry to the Receiver at the address provided. Federal Deposit Insurance Corporation as Receiver of La Jolla Bank, FSB By: Thornton Brown Title: Receiver in Charge FDIC Federal Deposit Insurance Corporation 40 Pacifica, Suite 1000, Irvine, CA 92618 Division of Resolutions and Receiverships April 1, 2010 CERTIFIED MAIL RETURN RECEIPT REQUESTED RECEIPT NO. 7009 2820 0001 4711 5117 City of La Quinta 78-495 Calle Tampico La Quinta, CA 92253 Subject: 10185 - La Jolla Bank, FSB La Jolla, CA - In Receivership Closing Date: February 19, 2010 Claim Bar Date: 90 days from date of this letter Standby Letter of Credit No. 23 issued at the request of Adobe Holdings Inc Dear Sir or Madam: The above -captioned institution (the "Institution") was closed on the Closing Date referenced above and the Federal Deposit Insurance Corporation was appointed as receiver of the Institution (the "Receiver"). Under the laws of the United States, the Receiver is charged with the duty of winding up the affairs of the Institution. In order to achieve this goal, the Receiver is given the right under 12 U.C. C. Section 1821(e) to repudiate undertakings entered into by the Institution where it finds such undertakings to be burdensome and where such repudiation will promote the orderly administration of the Institution's affairs. The Institution's records indicate that you may be a beneficiary of a letter of credit as referenced above. The Receiver has determined that the above -described letter of credit is burdensome and that disaffirmance of said letter of credit will promote the orderly administration of the Institution's affairs. The purpose of this letter is to inform you that the Receiver has elected to disaffirm the above -referenced letter of credit to the full extent, if any, that is represents an enforceable obligation of the Institution or the Receiver. You may determine that the Receiver's decision to disaffirm your letter of credit gives you a claim against the receivership estate. If so, you must file a Proof of Claim in writing, together with proof thereof, by the Claims Bar Date referenced in the caption thereof. Under federal law, with certain limited exceptions, failure to file claims by the Claims Bar Date will result in disallowance by the Receiver, the disallowance will be final, and further rights or remedies with regard to claims will be barred. A Proof of Claim form may be obtained by calling (949) 208-6700. U If you have any further questions concerning the claims process, you may direct your inquiry to the Receiver at the address provided. Federal Deposit Insurance Corporation as Receiver of La Jolla Bank, FSB C>-- � � �7 /-� 3� By: Thornton Brown Title: Receiver in Charge "FDIC Federal Deposit Insurance Corporation 40 Pacifica, Suite 1000, Irvine, CA 92618 Division of Resolutions and Receiverships April 1, 2010 CERTIFIED MAIL RETURN RECEIPT REQUESTED RECEIPT NO. 7009 2820 0001 4711 5094 City of La Quinta 78-495 Calle Tampico La Quinta, CA 92253 Subject: 10185 - La Jolla Bank, FSB La Jolla, CA - In Receivership Closing Date: February 19, 2010 Claim Bar Date: 90 days from date of this letter Standby Letter of Credit No. 25 issued at the request of Adobe Holdings Inc Dear Sir or Madam: The above -captioned institution (the "Institution") was closed on the Closing Date referenced above and the Federal Deposit Insurance Corporation was appointed as receiver of the Institution (the "Receiver"). Under the laws of the United States, the Receiver is charged with the duty of winding up the affairs of the Institution. In order to achieve this goal, the Receiver is given the right under 12 U.C. C. Section 1821(e) to repudiate undertakings entered into by the Institution where it finds such undertakings to be burdensome and where such repudiation will promote the orderly administration of the Institution's affairs. The Institution's records indicate that you may be a beneficiary of a letter of credit as referenced above. The Receiver has determined that the above -described letter of credit is burdensome and that disaffirmance of said letter of credit will promote the orderly administration of the Institution's affairs. The purpose of this letter is to inform you that the Receiver has elected to disaffirm the above -referenced letter of credit to the full extent, if any, that is represents an enforceable obligation of the Institution or the Receiver. You may determine that the Receiver's decision to disaffirm your letter of credit gives you a claim against the receivership estate. If so, you must file a Proof of Claim in writing, together with proof thereof, by the Claims Bar Date referenced in the caption thereof. Under federal law, with certain limited exceptions, failure to file claims by the Claims Bar Date will result in disallowance by the Receiver, the disallowance will be final, and further rights or remedies with regard to claims will be barred. A Proof of Claim form may be obtained by calling (949) 208-6700. If you have any further questions concerning the claims process, you may direct your inquiry to the Receiver at the address provided. Federal Deposit Insurance Corporation as Receiver of La Jolla Bank, FSB By: Thornton Brown Title: Receiver in Charge 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: 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: J u r MEMORANDUM TO: Veronica Montecino, City Clerk FROM: ,Al- Anthony Colarossi, Associate Engineer VIA: Amothy R. Jonasson, Public Works Director/City Engineer DATE: October 09, 2006 RE: Final Map for TM 31249, Adobe Holding, Inc (Village @ Coral Mnt) On September 5, 2006, the City Council adopted a Resolution granting approval of a Final Map and Subdivision Improvement Agreement for Tract Map No. 31249. 1 am transferring to you the Final Map, 4 SIAs, and 3 Letter of Credits for you to perform the following tasks: 1. Sign and process the On & Off -site Subdivision Improvement Agreements 2. Keep the following Letter of Credits: a. On -site Performance Irrevocable Letter of Credit No. 23 Amount: $1,950,983.00 Surety Company: La Jolla Bank b. Off -site Performance Irrevocable Letter of Credit No. 25 Amount: $229,179.00 c. Off -site Labor & Material Irrevocable Letter of Credit No. 24 Amount: $229,179.00 3. Sign and return the Final Map If you have any questions, please contact me at extension 7089. Thank You. \\CLQADMFS I Tublic Works - Engineering\STAFF\Colarossi\TRANSMITS\City Clerk\Final Maps Sending\The Vilage at Coral Mnt TM 31249.doc TW�v 4 4a" MEMORANDUM To: Veronica J. Montecino, CMC, City Clerk From: Ed Wimmer, Development Services Principal Engineer /� Via: vmothy R. Jonasson, Public Works Director / City Engineer Date: November 12, 2008 Re: Release of Rough Grading Bond for Tract Map No. 31249, Village at Coral Mountain Please release the following rough grading bond held in your files for the above referenced tract. The following Rough Grading Bond has been authorized by Public Works Staff for release. All rough grading work associated with the encroachment permit has been completed. The rough grading bond amount and the address to the developer and Surety Company are as follows: Tract Map No. 31249 Bond Description Bond No. Bond Amount Rough Grading SU 5017775 $139,150 Developer: Mr. Robert Rippe Adobe Holdings, Inc. P.O. Box 1396 La Quinta, CA 92247-1396 Surety Company: Arch Insurance Company One Liberty Plaza, 53rd Floor New York, NY 10006 Cc: Project File I, Tract Map No. 31249 Amy Yu, Assistant Engineer II TATracts_Parcel Maps_SP\30000-39999\31249\Internal Correspondence\Release of Grading Security memo TM 31249.doc N P.O. Box 1504 LA QUINTA, CALIFORNIA 92247-1504 78-495 CALLE TAMPICO (760) 7 7 7 - 7 0 0 0 LA QUINTA, CALIFORNIA 92253 FAX (760) 777-7101 November 20, 2008 Robert Rippe Adobe Holdings, Inc. P. O. Box 1396 La Quinta, CA. 92247-1396 Re: Tract Map 31249 (Village at Coral Mountain) To Whom It May Concern: Per authorization from the Public Works Department, the City Clerk's Office hereby releases Performance Bond SU5017775 (grading) in the amount of $139,150. If you have any questions, please call me at (760) 777-7002. Sincerely; VERONICA JONTECINO, City Clerk City of La QLrinta, California cc: Tim Jonasson, Public Works Director/City Engineer Arch Insurance Company File a4S� BOND NO. SU5017775 PREMIUM: $2,783.00 FAITHFUL PERFORMANCE BOND (LQMC 8.02.01 & CBC 3311) Grading Bond WHEREAS, the City of La Quinta, California, is prepared to issue Encroachment Permit # in accordance with the La Quinta Municipal Code, and the California Building Code which is adopted by reference, to CORAL RIDGE. LLC , as Principal, whereby Principal will be authorized to perform certain grading improvements identified in the permit, and as further detailed on the grading plans referenced therein, to privately -owned property generally known to the City and others as * ;and *THE VILLAGE AT CORAL MOUNTAIN TRACT 31249 WHEREAS, Said Principal is required under the terms of the permit to furnish a bond for the faithful performance of the grading work in accordance with the approved plans, specifications, and permit requirements; or, if the work is abandoned (not completed as required), Principal shall correct or eliminate any hazardous conditions that may exist. NOW, therefore, we the Principal and ARCH INSURANCE COMPANY as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal Sum Of ONE HUNDRED THIRTY-NINE THOUSAND ONE HUNDRED FIFTY & 000100 Dollars ($ 139,150. DO ) 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 obligaton secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attomey'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 1 of 2 F210 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. 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 ®CASH SECURITY - DESCRIPTION OF OBLIGATION PROMPTING DEPOSIT Dust control; ❑As -built plans; ❑Removal of temporary improvements Other ❑CASH PAYMENT - DESCRIPTION OF OBLIGATION PROMPTING DEPOSIT DATE DEBIT BALANCE Amount Receipt # 3/18/10 $19,448.81 $19,448.81 aa7Y * Cash deposits placed in Clty admkftWred tit aCOGUM are typtealiy receAvedfor hobadD ins: 1) CASH SECURITY- to provide a source of funds for the City to draw upon If the City Irf — -_ "*�� *} �10 provide a source of funding for improvements, prop9rty, or services to be acquired, lase the fund balance when the developers obligations that prompted the cash depot � ifi Ind for Release of Cash Deposit (Form F058) IU THIS DOCUMENT HAS AN ARTTAL WA7 nk m Five star s Guarwgmd s PAY NINETEEN THOUSAP TO THE ORDER OF: CITY OF LA PURPOSE/REMITTER: 365913623937 Location: 5250 ILA QUIIVTA U.S. Bank Natioaal Association Minrapolis. MN 55M Date: 3/18/10 01 Receipt no: 14161 Customer Location Name Amount AD 22'!4 A/R iE41tE1.0i ADOBE�1T , INC # 119448.81 Trans number: 134867 AM HOLD10011118 DEP #IM18 Tonder detail CK DECK 52"1633 $1940.81 Total tendered f19448.81 Total payment $19448,81 Tans date: 3/18110 tin, 1&:11t49 DER. ABSENCE OF THESE FEATURES Will INDICATE A COPY. No. 5250501633 90_3582 i222 DATE: MARCH 18, 2010 11852SOSOL633no i:12223S821CLS34100239S311' $ 19,448.81 AUTHORIZED SIGNATURE ASSIGNMENT AS SECURIT RIGINAI. CorV 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 (City) (State) (Zip Code) thereto to the City of La Quinta (Name of Assignee) whose address is 78495 Calle Tampico La Quinta Ca 92253 (Street Address) (City) (State) (Zip Code) 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 , of this assignment. , at J9a Quinta (Assignor) FIRST ENDORSEMENT — RECEIPT FOR NOTICE OF ASSIGNMENT , California. 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 12005 PFF Bank & Trust (Name of Savings Institution) ,at La Quinta 78752 Highway 111 , k \ � La\Quinta CA 92253 By ND ENDORSEMENT — RECEIPT FOR SECU , California. Title Financial Services Officer Receipt is acknowledgedlof the pb6ve assignment and the account identified in the above assignment. The savings institution named in the abbbve assi6nment 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 I , at , California. By By 1094 Assignment as Security.dot (8/99) (Assignee) 4 4a PUBLIC WORKS/ENGINEERING DEPARTMENT INTEROFFICE MEMORANDUM TO: June Greek, City Clerk FROM: W- Anthony Colarossi, Assistant Engineer I VIA: Aimothy 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: 801362393 Account Amount: $16,650.00 Bank Name: PFF 2. Grading Bond Number: SU5017775 Performance: $139,150.00 Surety: 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 rn PUBLIC WORKS/ENGINEERING DEPARTMENT G0 9�� INTEROFFICE MEMORANDUM TO: June Greek, City Clerk FROM: Pli Anthony,Colarossi, Assistant Engineer I VIA: �gimothy 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 COO p17dl]9 FAITHFUL PERFORMANCE BOND (LQMC 6.16) Fugitive Dust Control Bond BOND NUMBER: SU5013662 PREMIUM: $999.00 PREMIUM PER ANNUM WHEREAS, the City of La Quinta, California, is prepared to authorize CORAL RI DGE, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY , as Principal, to proceed with certain construction activities pursuant to one, or more permits issued by the City, for various infrastructure improvements and/or _ q structures on, or associated with, privately -owned property generally known to the City and others as THE VILLAGE AT CORAL MOUNTAIN ;and WHEREAS, all such construction and demolition activities must be performed in such manner as to conform with La Quinta Municipal Code, Chaper 6.16, entitled Fugitive Dust Control to reduce fugitive dust and corresponding PM10 emissions; and WHEREAS, said Principal is required by LQMC 6.16.050(A)(4) to ensure that Fugitive Dust Control Plan # 05018 , prepared specifically for the subject construction site, is financially secure by furnishing security for the faithful performance of the dust control activitities required in the Fugitive Dust Mitigation Plan. NOW, therefore, we the Principal and ARCH INSURANCE COMPANY as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal sum of FORTY-NINE THOUSAND NINE HUNDRED FIFTY & NO/100--- Dollars ($ 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 dul executd the Principal and Surety above named, on MARCH 14 2005. RAtF D , LLC, A R I LIMITED LIABILITY COMPANY B INE D VELOPMENT CO., AS MEMBER 1 " (Seal) Signature of Principal PAUL M. EHLINE, PRESIDENT Title of Signatory ARCH INSURANCE COWF ANY Sur (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 personally appeared before me, TODD M. ROHM CYNTHIA S. WOZNEY, NOTARY PUBLIC NAME, TITLE OF OFFICER - E.G., -JANE DOE, NOTARY PUBLIC' NAME(S) OF SIGNER(S) ® personally known to me - OR to be the person(&) whose name(s) is/am subscribed to the within instrument and ac- knowledged to me that he/shufth gx executed the same in hisftWIhiair authorized capacity(), and that by his/hemhWK "r signature(s) on the instrument the persons C NTHIA S. 'W0 - 1=��% 1 OOTIPublAM #a 62259 alifornia ( A, �;a Notary+ or the entity upon behalf of which the ` .� ic-C �- 0�;ANGECOUNTY perSonM acted, executed the instrument. Idly Eonm EXP. `UnQ 25 206 . :."IQ ` Iry .y 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 TTTE(s) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL ® ATTORNEY -IN -FACT ❑ TRUSTEE(S) ❑ GUARDIANICONSERVATOR ❑ OTHER - SIGNER IS REPRESENTING: NAME OF PERSONS) OR ENT I Y(IES) ARCH INSURANCE COMPANY DESCRIPTION OF ATTACHED DOCUMENT BOND TWO TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES P 47ARCH 14. 2005 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 tiadlbe' A doily executed 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 attomeys-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 attorney 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. 1 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.