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38668 Dune Palms Mixed-Use - OBR & Released BondsOUTSTANDING BOND REPORT Tract Number: 38668 Development: Dune Palms Mixed-Use Project - NEC Dune Palms & HWY 111 Developer/Owner: BP Dune Palms (Prev. DWCG1, LLC) Bond Company: American Contractors Indemnity Company (Prev. Great American Insurance Company) 1 MacArthur Place, Suite 550 Santa Ana, CA 92707 Attn: Paul Dito Outstanding / Released Bonds: Bond Type Bond No. Amount: Date Replaced or Released Performance E711578 $482,680 Released 12/18/2023 Labor & Material E711578 $482,680 Released 12/18/2023 Performance 100821315 $482,680 Released 05/23/2025 Labor & Material 100821315 $482,680 Released 08/18/2025 City of La Quinta CITY COUNCIL MEETING: May 20, 2025 STAFF REPORT AGENDA TITLE: ACCEPT OFF-SITE AND ON-SITE IMPROVEMENTS ASSOCIATED WITH PARCEL MAP NO. 38668 LOCATED ON THE NORTHEAST CORNER OF HIGHWAY 111 AND DUNE PALMS ROAD; PROJECT – DUNE PALMS MIXED-USE PROJECT RECOMMENDATION Accept the off-site and on-site improvements associated with Parcel Map No. 38668; authorize staff to release the performance security upon receipt of warranty security; and direct staff to release the labor and materials security 90 days after City Council acceptance of the improvements. EXECUTIVE SUMMARY Parcel Map 38668 is a mixed-use project located on the northeast corner of Highway 111 and Dune Palms Road (Attachment 1). Blackpoint Properties, LLC (Developer) has requested release of the performance, labor and materials securities. Since all off-site and on-site improvements have been completed, staff 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 Parcel Map No. 38668. The improvements include access road, signing and striping, storm drain, sidewalk, retention basins, and setting monumentation. Staff inspected the off-site and on-site improvements and verified they meet City-approved plans and standards. 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. CONSENT CALENDAR ITEM NO. 6 79 Prepared by: Amy Yu, Associate Engineer Approved by: Bryan McKinney, P.E., Public Works Director/City Engineer Attachment: 1. Vicinity Map 80 V I C I N I T Y M A P NOT TO SCALE PARCEL MAP No. 38668 ATTACHMENT 1 81 MEMORANDUM Date: May 22, 2025 To: Monika Radeva, City Clerk Via: Bryan McKinney, P.E., Public Works Director / City Engineer From: Amy Yu, Associate Engineer Re: Bond Release for Parcel Map 38668, Blackpoint Properties Please release the following bonds held in your files for the above referenced project. The performance bond is to be released now and the labor & materials bond is to be released on August 18, 2025 (90 days after City Council acceptance of the improvements). The off-site and on-site improvements were accepted by City Council on May 20, 2025. The bond amounts and the address to the developer and surety company are as follows: Bond Description Bond No.Bond Amount Performance 100821315 $482,680 Labor & Materials 100821315 $482,680 Parcel Map No. 38668 Developer: Clement Balser Blackpoint Properties, LLC 1129 Industrial Avenue, Suite 205 Petaluma, CA 94952 Surety Company: American Contractors Indemnity Company 1 MacArthur Place, Ste 550 Santa Ana, CA 92707 Attn: Paul Dito If you have any questions, please contact me at extension 7047. Thank You. August 18, 2025 Blackpoint Properties, LLC 1129 Industrial Ave, Suite 205 Petaluma, CA 94952 Attention: Clement Balser RE: PARCEL MAP 38668 DUNE PALMS MIXED USE PROJECT – 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 bond and notified American Contractors Indemnity Company on August 18, 2025. Bond Number Bond Amount Bond Type 100821315 $482,680 Labor & Material The original paper bond 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 August 18, 2025 American Contractors Indemnity Company 1 MacArthur Place, Suite 550 Santa Ana, CA 92707 Attn: Paul Dito RE: PARCEL MAP 38668 DUNE PALMS MIXED USE PROJECT – RELEASE OF BOND Dear Mr. Dito, 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 100821315 $482,680 Labor & Material A copy of the bond being released is enclosed for your reference. Blackpoint Properties, LLC, the developer, was also notified of the above bonds released on 8/18/2025. 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 Premium Subject to Adjustment Based on Final Contract Price SUBDIVISION IMPROVEMENTS Parcel Map No. 38668 Bond No. 100821315 LABOR AND MATERIAL BOND KNOW ALL MEN BY THESE PRESENTS: Bond No. 100821315 Initial Premium Included on Performance Bond THAT, the City Council of the City of La Quinta has approved the final map for Parcel Map No. 38668, prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREAS, the City Council of the City of La Quinta, State of California, and hereinafter designated as "the principal" have entered into an agreement whereby the principal agrees to install and complete certain designated public improvements, which agreement, dated _ and identified as Parcel Map No. 38668, is hereby referred to and made a part hereof; and WHEREAS, under the terms of the agreement, the principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of La Quinta to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. NOW, THEREFORE, the principal and the undersigned as corporate surety, are held firmly bound unto the City of La Quinta and all contractors, subcontractors, laborers, materialmen, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum of Four Hundred Eighty Two Thousand Six Hundred and Eighty DOLLARS ($482,680), for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to this work or labor, that the surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney' s fees, incurred by city in successfully enforcing this obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered. It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond. Should the condition of this bond be fully performed, then this obligation shall become null and void, otherwise it shall be and remain in full force and effect. BP Dune Palms, LP, Blackpoint Properties, LLC The surety hereby stipulates and agrees that no change, extension of time, alteration, or addition to the terms of the agreement or the specifications accompanying the same shall in any manner affect its obligations on this bond, and it does hereby waive notice of any such change, extension, alteration, or addition_ In witnesswhereof, this instrument has been duly executed by the principal and surety above named, December 12, 2023 BP Dune Palms, LP, Blackpoint Properties, LLC Principal (Seal) OV Signature of Principal Title of Signatory American Contractors Indemnity Company Surety (Seal) ignature of S ety Freddy Anvari, Attorney -in -Fact Title of Signatory 1 MacArthur Place, Suite 550, Santa Ana CA 92707 Address of Surety 714-740-7000 Phone # of Surety Paul S. Dito Contact Person For Surety ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Orange ) D EC 12 22")2" On before me, K. Ho, Notary Public (insert name and title of the officer) personally appeared Freddy Anvari who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. `,,;`�,�' K. H0 S . Notary Public •California Orange County > } ° Commission # 2428457 e�,i. Al A-i-My Comm. Expires Nov 26, 2026T Signature (Seal) `7 TOKIOMARINE jk* H C C POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS: That American Contractors Indemnity Company of the State of California, a California corporation, does hereby appoint, FREDDY ANVARI its true and lawful Attomey-in-Fact, with full authority to execute on its behalf bond number 100821315 issued in the course of its business and to bind the Company thereby, in an amount not to exceed Five hundred thousand and 00/100 ( $500,000.00 ). This Power of Attorney is granted and is signed and sealed by facsimile under and by the authority of the following resolutions adopted by the Board of Directors of AMERICAN CONTRACTORS INDEMNITY COMPANY at a meeting duly called and held on the 1 sc day of September, 2011. "Be it Resolved, that the President, any Vice -President, any Assistant Vice -President, any Secretary or any Assistant Secretary shall be and is hereby vested with full power and authority to appoint any one or more suitable persons as Attorney(s)-in-Fact to represent and act for and on behalf of the Company subject to the following provisions: Attorney -in -Fact may be given full power and authority for and in the name of and on behalf of the Company, to execute, acknowledge and deliver, any and all bonds, recognizances, contracts, agreements or indemnity and other conditional or obligatory undertakings, including any and all consents for the release of retained percentages and/or final estimates on engineering and construction contracts, and any and all notices and documents canceling or terminating the Company's liability thereunder, and any such instruments so executed by any such Attorney -in -Fact shall be binding upon the Company as if signed by the President and sealed and effected by the Corporate Secretary. Be it Resolved, that the signature of any authorized officer and seal of the Company heretofore or hereafter affixed to any power of attorney or any certificate relating thereto by facsimile, and any power of attorney or certificate bearing facsimile signature or facsimile seal shall be valid and binding upon the Company with respect to any bond or undertaking to which it is attached." The Attorney -in -Fact named above may be an agent or a broker of the Company. The granting of this Power of Attorney is specific to this bond and does not indicate whether the Attorney -in -Fact is or is not an appointed agent of the Company. IN WITNESS WHEREOF, American Contractors Indemni Pompany has caused its seal to be affixed hereto and executed by its President on this 181h day of April, 2022. SPACT/JRS' AMERICAN CONT CTORS INDEMNITY COMPANY �c NCORPORATED 4 = s W' SEP' 25 1990 <_ By. ��.. o \ Ada S. Pessin, President 1`11''1p Cq L f F O RP.o`O\` A Notary Public or other officer completing this certificate J;Iri les 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 this 1W1 day of April, 2022, before me, Sonia 0. Carrejo, a notary public, personally appeared Adam S. Pessin, President of American Contractors Indemnity Company, who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of CALIFORNIA that the foregoing paragraph is true and correct. WITNESS my hand and official seal. SON1a0 11= Notary Public - Ca lforma Los Angeics County L Signature (seal) Commissim#2398710 - Comm. aUpiresApt 23, 2026 I, Kio Lo, Assistant Secretary of American Contractors Indemnity Company, do hereby certify that the Power of Attorney and the resolution adopted by the Board of Directors of said Company as set forth above, are true and correct transcripts thereof and that neither the said Power of Attorney nor the resolution have been revoked and they are now in full force and effect. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seals of said Companies at Los Angeles, California this \\\\,;11111 i1 Ilr,lili,,, / 12th day of December 2023 oPACTORs , Bond No. 100821315 z = U' INCORPORATED : 1 = KIO LO, Assist ecreta Agency No. 4211 = a'. SEPT 25.1990 ; <; ry Visit tmhcc,com/surety for more informationi HCCSOZZPOAACIC07/2023 May 23, 2025 Blackpoint Properties, LLC 1129 Industrial Ave, Suite 205 Petaluma, CA 94952 Attention: Clement Balser RE: PARCEL MAP 38668 DUNE PALMS MIXED USE PROJECT – 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 bond and notified American Contractors Indemnity Company on May 23, 2025. Bond Number Bond Amount Bond Type 100821315 $482,680 Performance The original paper bond is enclosed. Please do not hesitate to contact me should you have any questions. Sincerely, Olivia Rodriguez, Acting Deputy City Clerk Email: ORodriguez@LaQuintaCA.gov Tel: (760) 777 - 7162 May 23, 2025 American Contractors Indemnity Company 1 MacArthur Place, Suite 550 Santa Ana, CA 92707 Attn: Paul Dito RE: PARCEL MAP 38668 DUNE PALMS MIXED USE PROJECT – RELEASE OF BOND Dear Mr. Dito, 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 100821315 $482,680 Performance A copy of the bond being released is enclosed for your reference. Blackpoint Properties, LLC, the developer, was also notified of the above bonds released on 5/23/2025. Please do not hesitate to contact me should you have any questions. Sincerely, Olivia Rodriguez, Acting Deputy City Clerk Email: ORodriguez@LaQuintaCA.gov Tel: (760) 777 - 7162 Premium Subject to Adjustment Based on Final Contract Price SUBDIVISION IMPROVEMENTS Parcel Map No. 38668 Bond No. 100821315 PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: Bond No.100821315 Initial Premium: $9,654.00 rAnnum THAT, the City Council of the City of La Quinta has approved the final map for Parcel Map No. 38668, prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREAS, the City Council of the City of La Quinta, State of California, and hereinafter designated as ("principal") have entered into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, dated and identified as Parcel Map No. 38668, is hereby referred to and made a part hereof; and WHEREAS, said principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the principal and American Contractors Indemnity Company as surety, are held and firmly bound unto the City of La Quinta hereinafter called ("City"), in the penal sum of Four Hundred Eighty Two Thousand Six Hundred and Eighty DOLLARS ($482,680) 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 bounded 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 agreement 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 City, 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 City 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 agreement or to the work to be performed hereunder or the specifications accompanying the same shall in any manner 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 agreement or to the work or to the specifications. BP Dune Palms, LP, Blackpoint Properties, LLC In witness whereof, this instrument has been duly executed by the principal and surety above named, on December 12, 2023 BP Dune Palms, LP, Blackpoint Properties, LLC Principal (Seal) Signature of Principal J4 4a (6e1�3 (Yi e�,e--d Fa4v l Title of Signatory American Contractors Indemnity Company Surety J (Seal) , ' ignature VSurety Freddy Anvari, Attorney -in -Fact Title of Signatory 1 MacArthur Place, Suite 550, Santa Ana CA 92707 Address of Surety 714-740-7000 Phone # of Surety Paul S. Dito Contact Person For Surety ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Orange On DEC- 12 2023 before me, K. Ho, Notary Public (insert name and title of the officer) personally appeared Freddy Anvari who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. K. HO WITNESS m hand and official seal. ; F; Notary Public - County y Orange Caunty _ Commission 4 2428457 ` o> My Comm. EXD1res No•: 10 10161 Signature -1 1 1 I (Seal) `, TOKIOMARINE H C C POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS: That American Contractors Indemnity. Company of the State of California a California corporation, does hereby appoint, FREDDY ANVARI its true and lawful Attorney -in -Fact, with full authority to execute on Its behalf bond number 100821315 issued in the course of its business and to bind the Company thereby, in an amount not to exceed Five hundred thousand and 00/100 L $500,000.00 ) This Power of Attorney is granted and is signed and sealed by facsimile under and by the authority of the following resolutions adopted by the Board of Directors of AMERICAN CONTRACTORS INDEMNITY COMPANY at a meeting duly called and held on the 1st day of September, 2011. `Be it Resolved, that the President, any Vice -President, any Assistant Vice -President, any Secretary or any Assistant Secretary shall be and is hereby vested with full power and authority to appoint any one or more suitable persons as Attorney(s)-in-Fact to represent and act for and on behalf of the Company subject to the following provisions: Attorney -in -Fact may be given full power and authority for and in the name of and on behalf of the Company, to execute, acknowledge and deliver, any and all bonds, recognizances, contracts, agreements or indemnity and other conditional or obligatory undertakings, including any and all consents for the release of retained percentages and/or final estimates on engineering and construction contracts, and any and all notices and documents canceling or terminating the Company's liability thereunder, and any such instruments so executed by any such Attorney -in -Fact shall be binding upon the Company as if signed by the President and sealed and effected by the Corporate Secretary. Be it Resolved, that the signature of any authorized officer and seal of the Company heretofore or hereafter affixed to any power of attorney or any certificate relating thereto by facsimile, and any power of attorney or certificate bearing facsimile signature or facsimile seal shall be valid and binding upon the Company with respect to any bond or undertaking to which it is attached." The Attorney -in -Fact named above may be an agent or a broker of the Company. The granting of this Power of Attorney is specific to this bond and does not indicate whether the Attorney -in -Fact is or Is not an appointed agent of the Company. IN WITNESS WHEREOF. American Contractors Indemnit,,Company has caused its seal to be affixed hereto and executed by its President on this 181' day of April, 2022. , SFac?oas; , =`��'`o�J AMERICAN CONTqJCTORS INDEMNITY COMPANY B Ada S Pessin. President A Notary Public or other officer completing this certificate `v&ifies 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 this 181' day of April, 2022, before me, Sonia O. Carrejo, a notary public, personally appeared Adam S Pessin. President of American Contractors Indemnity Company, who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the Instrument the person, or the entity upon behalf of which the person acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of CALIFORNIA that the foregoing paragraph is true and correct. WITNESS my hand and official seal SON; ° cafc -' r Notary bliC Ca'sx••a Ws 4nge+es Cc.nry Signature (seal) Ccmrmssim M 2190, -�My CelnRl. [SilfpS.>Q: 2). 2526 I, Kio Lo, Assistant Secretary of American Contractors Indemnity Company, do hereby certify that the Power of Attorney and the resolution adopted by the Board of Directors of said Company as set forth above, are true and correct transcripts thereof and that neither the said Power of Attorney nor the resolution have been revoked and they are now in full force and effect IN WITNESS WHEREOF I have hereunto set my hand and affixed the seals of said Companies at Los Angeles, California this 12th day of December 2023 Jij Bond No. 100821315 Agency No. 4211 y ;'. ',' n r Klo Lo, Asslsta ecretary y1 0 Visit tmhcc.com/surety for more information �� ri9 s� HCCSOZZPOAACIC0712023 .,CaQdifr�, MEMORANDUM Date: December 14, 2023 To: Monika Radeva, City Clerk From: Amy Yu, Associate Engineer Re: Bond Replacement for Parcel Map 38668, Blackpoint Properties CALIFORNIA Please replace the following bonds held in your file for the above referenced project per Assignment and Assumption Agreement and Amendment to Subdivision Improvement Agreement for PM 38668 Please release the following bonds: Parcel Map No. 38668 Type of Bond Bond No. Bond Amount Performance E711578 $482,680 Labor & Materials E711578 $482,680 Please retain the following attached bonds: Parcel Map No. 38668 Type of Bond Bond No. Bond Amount Performance 100821315 $482,680 Labor & Materials 100821315 $482,680 Previous Developer: Surety Company: DWCG1, LLC 1400 N. Tustin St Orange, CA 92867 Great American Insurance Company 301 E. 4th Street Cincinnati, OH 45202 Attn: Kristie Paolozzi 78495 Calle Tampico 1 La Quints, California 92253 1760.777.70001 www .laquintaca,gov W ��LINW CALIFORNIA - December 18, 2023 -- DWCG1, LLC 1400 N. Tustin St. Orange, CA 92867 RE: PARCEL MAP 38668 BLACKPOINT PROPERTIES — 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 Great American Insurance Company on 12/18/2023. Bond Number Bond Amount Bond Type E711578 $482,680 Performance E711578 $482,680 Labor & Materials The original paper bonds are enclosed. Please do not hesitate to contact me should you have any questions. Sincerely, Laurie McGinley, Deputy City Clerk Email: LMcginley�LaQuintaCA.gov Tel: (760) 777 - 7123 W �GGI'NW CALIFORNIA - December 18, 2023 -- Great American Insurance Company 301 E. 4t" Street Cincinnati, OH 45202 Attention: Kristie Paolozzi RE: PARCEL MAP 38668 BLACKPOINT PROPERTIES — RELEASE OF BONDS Dear Ms. Paolozzi, 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 E711578 $482,680 Performance E711578 $482,680 Labor & Materials Copies of the bonds being released are enclosed for your reference. DWCG1, LLC, the developer, was also notified of the above bonds release on 12/18/2023. 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 SUBDIVISION IMPROVEMENTS Parcel Map No. 38668 Bond No. E711578 PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: THAT, the City Council of the City of La Quinta has approved the final map for Parcel Map No. 38688, prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREAS, the City Council of the City of La Quinta, State of California, and DWCG1, LLC hereinafter designated as ("principal") have entered into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, dated October 11, 2023, and identified as Parcel Map No. 3-8668, is hereby referred to and made a part hereof; and WHEREAS, said principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the principal and Great American Insurance Company_, as surety, are held and firmly bound unto the City of La Quinta hereinafter called ("City"), in the penal sum of Four Hundred Eighty Two Thousand Six Hundred and Eighty DOLLARS ($482,680) 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 bounded 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 agreement 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 City, 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 City 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 agreement or to the work to be performed hereunder or the specifications accompanying the same shall in any manner 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 agreement or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the principal and surety above named, on October 11, 2023. DWCG1, LLC Principal (Seal) Signature of Principal Title of Signatory Great American Insurance Company Surety (Seal) Signature Surety Attorney -in -Fact Title of Signatory 301 E. 4th Street, Cincinnati, OH 45202 Address of Surety 515-369-5000 Phone # of Surety Kristie Paolozzi Contact Person For Surety "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." CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of e S SS. I before me , Notary) personally appeared G el , who proved to me (Name of Sign r) on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument, the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official (Seal) CLARISSA LEILANI ROSS Notary peblio California x W Los Angeles County ig " Commission ; 2375671 " µY Comm. Expires Oct 17, 2025 J OPTIONAL The foll-a;�Jng information is not required by law, however it may be helpful in preventing fraudul of this ackno�dgement. - DOCUMENT TITLE OR DESCRIPTION DOCUMENT DATE: COMMENTS: NUMBER S959 (2014) GREAT AMERICAN INSURANCE COMPANY' Administrative Office: 301 E 4TH STREET 0 CINCINNATI, OHIO 45202 • 513-369-5000 • FAX 513-723-2740 The number of persons authorized by this power of attorney is not more than One POWER OF ATTORNEY Bond No. E711578 KNOW ALL MEN BY THESE PRESENTS: That the GREAT AMERICAN INSURANCE COMPANY, a corporation organized and existing under and by virtue of the laws of the State of Ohio, does hereby nominate, constitute and appoint the person or persons named below its true and lawful attorney -in - fact, for it and in its name, place and stead to execute on behalf of the said Company, as surety, the specific bond, undertaking or contract of suretyship referenced herein; provided that the liability of the said Company on any such bond, undertaking or contract of suretyship executed under this authority shall not exceed the limit stated below. The bond number on this Power of Attorney must match the bond number on the bond to which it is attached or it is invalid. Name Address Limit of Power Michael T. Thaxton 11338 Moorpark St. $482680--- Studio City; CA 91602 IN WITNESS WHEREOF the GREATAMERICAN INSURANCE COMPANY has caused these presents to be signed and attested by its appropriate officers and its corporate seal hereunto affixed this 11th day of October 1 2023 Attest GREAT AMERICAN INSURANCE COMPANY Assistant Secretary Divisional Senior rice President STATE OF OHIO, COUNTY OF HAMILTON - ss: MARK VicARio (877-377-2405) On this 11 th day of October 2023 , before me personally appeared MARK VICARIO, tome known, being duly sworn, deposes and says that he resides in Cincinnati, Ohio, that he is a Divisional Senior Vice President of the Bond Division of Great American Insurance Company, the Company described in and which executed the above instrument; that he knows the seal of the said Company; that the seal affixed to the said instrument is such corporate seal; that it was so affixed by authority of his office under the By -Laws of said Company, and that he signed his name thereto by like authority. 1U10 A KOHORST Notary Public State of Ohio My Comm. Exp1m May 18, 2025 This Power of Attorney is granted by authority of the following resolutions adopted by the Board of Directors of Great American Insurance Company by unanimous written consent dated June 9, 2008. RESOLVED: That the Divisional President, the several Divisional Senior Vice Presidents, Divisional Vice Presidents and Divisonal Assistant Vice Presidents, or any one of them, be and hereby is authorized, fivin time to time, to appoint one or more Attorneys -in -Fact to execute on behalf of the Company, as surety, any and all bonds, undertakings and contracts ofstoetyship, or other written obligations in the nature thereof- to prescribe their respective duties and the respective limits of their authority; and to revoke any such appointment at any time. RESOLVED FURTHER: That the Company seal and the signature of any of the aforesaid officers and any Secretary or Assistant Secretary of the Company may be affixed by facsimile to any power of attorney or certificate of either given for the execution of any bond, undertaking, contract of stretyship, or other written obligation in the nature thereof, such signature and seal when 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. CERTIFICATION I, STEPHEN C. BERAHA, Assistant Secretary of Great American Insurance Company, do hereby certify that the foregoing Power of Attorney and the Resolutions of the Board of Directors of June 9, 2008 have not been revoked and are now in full force and effect. Signed and sealed this 11th day of October 2023 41'. e. 3 Assistant Secretary S1194E (05/20) SUBDIVISION IMPROVEMENTS Parcel Map No. 38668 Bond No. E711578 LABOR AND MATERIAL BOND KNOW ALL MEN BY THESE PRESENTS: THAT, the City Council of the City of La Quinta has approved the final map for Parcel Map No. 38668, prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREAS, the City Council of the City of La Quinta, State of California, and DWCG1, LLC hereinafter designated as "the principal" have entered into an agreement whereby the principal agrees to install and complete certain designated public improvements, which agreement, dated October 11, 2023, and identified as Parcel Map No. 38668, is hereby referred to and made a part hereof; and WHEREAS, under the terms of the agreement, the principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of La Quinta to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. NOW, THEREFORE, the principal and the undersigned as corporate surety, are held firmly bound unto the City of La Quinta and all contractors, subcontractors, laborers, materialmen, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum of Four Hundred Eighty Two Thousand Six Hundred and Eighty DOLLARS ($482,680), for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to this work or labor, that the surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney' s fees, incurred by city in successfully enforcing this obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered. It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond. Should the condition of this bond be fully performed, then this obligation shall become null and void, otherwise it shall be and remain in full force and effect. The surety hereby stipulates and agrees that no change, extension of time, alteration, or addition to the terms of the agreement or the specifications accompanying the same shall in any manner affect its obligations on this bond, and it does hereby waive notice of any such change, extension, alteration, or addition. In witness whereof, this instrument has been duly executed by the principal and surety above named, on October 11. 2023. DWCG1, LLC Principal (Seal) I� Signature of Principal �m c� Title of Signatory Great American Ins rance Company Surety (Seal) Signature of S ety Attorney -in -Fact Title of Signatory 301 E. 4th Street, Cincinnati, OH 45202 Address of Surety 515-369-5000 Phone # of Surety Kristie Paolozzi Contact Person For Surety "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." CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of _ S -� C 't°� SS. /J (6-1- 1 �, S S On i , before me, _J { te} I (Notary) personally appeared f/yj, r 7c-e-4 - / /] *l _, �!) , who proved to me (Name of Signer) on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument, the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California paragraph is true and correct. WITNESS my hand and official seal! C - (Signature of Notary vF �y CLARISSA LEILANI ROSS ? Notary Public - California w - Los Angeles county Commission 4 2375671 My comm. Expires Oct 17, 2025 OPTIONAL The follo information is not required by law, however it may be helpful in of this acknow ggment. DOCUMENT TITLE OR DESCRIPTION DOCUMENT DA COMMENTS: OF PAGES: (Seal) foregoing use S959 (2014) GREAT AMERICAN INSURANCE COMPANY' Administrative Office: 301 E 4TH STREET • CINCINNATI, OHIO 45202 • 513-369-5000 0 FAX 513-723-2740 The number of persons authorized by this power of attorney is not more than One POWER OF ATTORNEY Bond No. E711578 KNOW ALL MEN BY THESE PRESENTS: That the GREAT AMERICAN INSURANCE COMPANY, a corporation organized and existing under and by virtue of the laws of the State of Ohio, does hereby nominate, constitute and appoint the person or persons named below its true and lawful attorney -in - fact, for it and in its name, place and stead to execute on behalf of the said Company, as surety, the specific bond, undertaking or contract of suretyship referenced herein; provided that the liability of the said Company on any such bond, undertaking or contract of suretyship executed under this authority shall not exceed the limit stated below. The bond number on this Power of Attorney must match the bond number on the bond to which it is attached or it is invalid. Name Address Limit of Power Michael T. Thaxton 11338 Moorpark St. $482680--- Studio City, CA 91602 IN WITNESS WHEREOF the GREAT AMERICAN INSURANCE COMPANY has caused these presents to be signed and attested by its appropriate officers and its corporate seal hereunto affixed this 11th day of October 1 2023 Attest GREAT AMERICAN INSURANCE COMPANY Assistant Secretary Divisional Senior rice President STATE OF OHIO, COUNTY OF HAMILTON - ss: MARK vicARio (877-377-2405) On this 11 th day of October 2023 , before me personally appeared MARK VICARIO, tome known, being duly sworn, deposes and says that he resides in Cincinnati, Ohio, that he is a Divisional Senior Vice President of the Bond Division of Great American Insurance Company, the Company described in and which executed the above instrument; that he knows the seal of the said Company; that the seal affixed to the said instrument is such corporate seal; that it was so affixed by authority of his office under the By -Laws of said Company, and that he signed his name thereto by like authority. SUSAN A KO11ORST Notary Public State of Ohio My Comm. Expires May 18, 2025 This Power ofAttomey is granted by authority of the following resolutions adopted by the Board of Directors of Great American Insurance Company by unanimous written consent dated June 9, 2008. RESOLVED: That the Divisional President, the several Divisional Senior Vice Presidents, Divisional Vice Presidents and Divisonal Assistant Vice Presidents, or anv one of them, be and hereby is authorized, f om time to time, to appoint one or more Attorneys -in -Fact to execute on behalf of the Company, as suety, any and all bonds, undertakings and contracts ofsuretyship, or other written obligations in the nature thereof- to prescribe their respective duties and the respective limits of their authority; and to revoke any such appointment at any time. RESOLVED FURTHER: That the Company seal and the signature of any of the aforesaid officers and any Secrelan, or Assistant Secretary of the Company may be afficed by facsimile to any power of attorney or certificate of either given for the execution of any bond, undertaking, contract of suretyship, or other written obligation in the nature thereof, such signature and seal when 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. CERTIFICATION I, STEPHEN C. BERAHA, Assistant Secretary of Great American Insurance Company, do hereby certify that the foregoing Power of Attorney and the Resolutions of the Board of Directors of June 9, 2008 have not been revoked and are now in full force and effect. Signed and sealed this 11th day of October , 2023 Assistant Secretary S1194E (05/20)