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37359 SLF-Adams Street La Quinta, LLC - Released BondsOUTSTANDING BOND REPORT Tract Number: 37359 Development: THE CENTRE Developer/Owner: SLF-ADAMS STREET LA QUINTA, LLC Bond Company: ATLANTIC SPECIAL TY INSURANCE COMPANY 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Attn: Patrick Benedict Outstanding / Released Bonds: Bond Type Bond No. Amount: Date Replaced or Released Grading 800016782 $1,012,538 Released 9/18/2024 Performance 800016783 $3,876,639 Released 9/18/2024 On-Site Performance 800016785 $459,032 Released 9/18/2024 Off-Site Labor & Material 800016785 $459,032 Released 1/7/2025 Off-Site Fugitive Dust 800016784 $28,000 Released 9/19/2024 Control PM 10 Warranty 800016785 $34,775 Released 11/04/2025 MEMORANDUM Date: November 4, 2025 To: Monika Radeva, City Clerk Via: Bryan McKinney, P.E., Public Works Director / City Engineer From: Amy Yu, Associate Engineer Re: Warranty Bond Release for TM 37359, The Centre (Solterra) Please release the following warranty security held in your files for the above referenced tract. The off-site improvements were accepted by City Council on September 17, 2024. The Public Works inspector has approved the inspection for warranty bond release. The warranty bond amount and the address to the developer and surety company are as follows: Developer: Lorena Cox SLF-Adams Street La Quinta, LLC 18565 Jamboree Rd, Suite 200 Irvine, CA 92612 Surety Company: Atlantic Specialty Insurance Company 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Attn: Patrick Benedict If you have any questions, please contact me at extension 7047. Thank You. Warranty Bond Number Warranty Security 800016785 $34,775 November 5, 2025 Atlantic Specialty Insurance Company 605 U.S. Highway 169, 8th Floor Plymouth, MN 55441 Attn: Patrick Benedict RE: TRACT MAP 37359 THE CENTRE (SOLTERRA) – 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 800016785 $34,775 Warranty A copy of the bond being released is enclosed for your reference. SLF-Adams Street La Quinta, LLC the developer, was also notified of the above bond release on 11/05/2025. 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 November 5, 2025 SLF-Adams Street La Quinta, LLC 18565 Jamboree Road, Suite 200 Irvine, CA 92612 Attention: Lorena Cox RE: TRACT MAP 37359 THE CENTRE (SOLTERRA) – 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 Atlantic Specialty Insurance Company on 11/05/2025. Bond Number Bond Amount Bond Type 800016785 $34,775 Warranty 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 MAINTENANCE BOND Bond No. 800016785 KNOW ALL BY THESE PRESENTS, That we SLF-Adams Street La Quinta, LLC , as Principal, and Atlantic Specialty Insurance Company, a New York corporation, as Surety, are held and firmly bound unto City of La Quinta , as Obligee, in the sum of Thirty Four Thousand Seven Hundred *Dollars ( $34,775.00 ) for the payment whereof said Pdncipal and Surety bind themselves, jointly and severally, as provided herein. *Seventy Five & 00/100 WHEREAS, Principal has entered into an agreement or agreements with Obligee, dated for Install certain public and private improvements, Tract No. 37359 ("Improvements"). WHEREAS, said agreement(s) provide(s) that Principal shall guarantee replacement and repair of improvements as described therein for a period of one year following final acceptance of said improvements; NOW, THEREFORE, if the above Principal shall indemnify the Obligee for all loss that Obligee may sustain by reason of any defective materials or workmanship which become apparent during the period of one year from and after acceptance of the said improvements by Obligee, then this obligation shall be void; otherwise to remain in full force and effect. PROVIDED, HOWEVER, that any suit under this bond shall be commenced no later than one (1) year from the expiration date of the Maintenance Period. No suit or action shall be commenced hereunder other than in a court of competent jurisdiction in the county or other political subdivision of the state in which the project, or any part thereof, is situated, or in the United States District Court for the district in which the project, or any part thereof, is situated, and not elsewhere. Sealed with our seals and dated this 1st day of August 2024 PRINCIPAL SLF-Adams Street La Quinta, LLC ATLANTIC SPECIALTY INSURANCE COMPANY 605 rHighway 169 North, Suite 800, Plymouth, MN 55441 BY: Terah Lane Attorney -In -Fact Acknowledgment comer State of Iowa County of Black Hawk — — — — — — This instrument was acknowledged before me date by— Terah Lane — — — — — — Name(s) of Person(s) �Pwk Todd Douglas Johnston Jr. Commission Number 8W680 `�� — — — — — — — +ivw► + My Commission Expires June 16, 2027 Signature of Notary Public Notary Public Title (or Rank of Military Personnel) Todd Douglas Johnston Jr. Iowa Notarial Seal Commission Number:856680 My Commission Expires: 06/16/2027 My commission expires June 16, 2027— — — --- [kitact . IN s li tt�s'!.'.,, KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPEC:IALIN INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, does hereby constitute and appoint: Harrison Yoshioka, Heather Saltarelli, James A. Schaller, Jeri Apodaca, Kevin Cathcart, Kim Luu, Lisa Pellerito, Mark Richardson, Mike Parizino, Rachelle Rheault, Terah Lane, Teresa Jackson, Vanessa Copeland, each individually if there be more than one named, its true and lawful Attorney -in -Fact, to make, execute, seal and deliver, for and on its behalf as surety, any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof; provided that no bond or undertaking executed under this authority shall exceed in amount the sum of: unlimited and the execution of such bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof in pursuance of these presents, shall be as binding upon said Company as if they had been fully signed by an authorized officer of the Company and sealed with the Company seal. This Power of Attorney is made and executed by authority of the following resolutions adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September. 2012: Resolved: That the President, any Senior Vice President or Vice -President (each an "Authorized Officer") may execute for and in behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and affix the seal of the Company thereto; and that the Authorized Officer may appoint and authorize an 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 anti authority given to any such Attorney -in - Fact. Resolved: That the Attorney -in -Fact may be given full power and authority to execute for and in the name and on behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney -in -Fact shall be as binding upon the Company as if signed and sealed by an Authorized Officer and, further, the Attorney -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 first day of January, 2023. SEAL 1986 ? By STATE OF MINNESOTA HENNEPIN COUNTY Sarah A. Kolar, Vice President and General Counsel On this first day of January, 2023, before me personally came Sarah A. Kolar, Vice President and General Counsel of ATLANTIC SPECIALTY INSURANCE COMPANY, to me personally known to be the individual and officer described in and who executed the preceding instrument, and she acknowledged the execution of the same, and being by me duly sworn, that she 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 r January 31, 2025 Pq Notary Public 1, 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 1st day of August 2024 SEAL ,r 1986 D Phis Power of Attorney expires .,. t s , January .31, 2025 Kara L.B. Barrow, Secretary 3' Please direct bond verifications to'r - 2Liiir, s (MI City of La Quinta CITY COUNCIL MEETING: September 17, 2024 STAFF REPORT AGENDA TITLE: ACCEPT OFF-SITE AND ON-SITE IMPROVEMENTS ASSOCIATED WITH THE SOLTERRA RESIDENTIAL DEVELOPMENT, TRACT MAP NO. 37359, LOCATED ON THE SOUTHWEST CORNER OF AUTO CENTRE DRIVE AND LA QUINTA DRIVE RECOMMENDATION Accept the off-site and on-site improvements associated with Tract Map No. 37359, Solterra; authorize staff to release performance securities; and direct staff to release the labor and materials security 90 days after City Council acceptance of the improvements. EXECUTIVE SUMMARY •Solterra is a residential apartment project located in the southwest corner of Auto Centre Drive and La Quinta Drive (Attachment 1). •SLF-Adams Street La Quinta, 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 Tract Map No. 37359. The improvements include pavement, signing and striping, storm drain, driveways, sidewalk, 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. 9 259 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 260 Source: ESRI Imagery ·|}þ111Wa s h i n g t o n S t Avenue 48 Dune Palms Rd Ad a m s S t Blackhawk Wy Rancho la Quinta Country Club One Eleven La Quinta Shopping Center La Quinta High School La Quinta Park La Quinta Cent er Dr Auto CentreDr I Legend Project Site 9LFLQLW\0DS $77$&+0(17 261 January 7, 2025 Atlantic Specialty Insurance Company 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Attn: Patrick Benedict RE: TRACT MAP 37359 THE CENTRE (SOLTERRA) – RELEASE OF BOND Dear Mr. Benedict, 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 800016785 $459,032 Labor & Material Off-Site A copy of the bond being released is enclosed for your reference. SLF-Adams Street La Quinta, LLC the developer, was also notified of the above bond release on 01/07/2025. 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 January 7, 2025 SLF-Adams Street La Quinta, LLC 18565 Jamboree Road, Suite 200 Irvine, CA 92612 Attention: Lorena Cox RE: TRACT MAP 37359 THE CENTRE (SOLTERRA)– RELEASE OF BOND Dear Ms. Cox, Per authorization of the City of La Quinta Public Works Department, the City Clerk’s Office has hereby released the following bond and notified International Atlantic Specialty Insurance Company on 01/07/2025. Bond Number Bond Amount Bond Type 800016785 $459,032 Labor & Material Off-Site 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 Bond No. 800016785 SUBDIVISION IMPROVEMENTS Tract Map No. 37359 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 Tract No. 37359 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 SLF-Adams Street La Quinta, 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 lu"e, 3'_O , 20 X1 , and identified as Tract Map No. 37359 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 fifty nine thousand and thirty two DOLLARS $459,032), 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 June 23 2021 SLF-Adams Street La Quinta, LLC Principal �? BY: , (Seal) Signature of Principal l a;CL Lj- -cty Q LG"# ��1 Q�/t�ai - K-4, Title of Signatory e /j �.,,Ct AjtL Atlantic Specialty Insurance Compan u ret JL (Seal) Signature cFSurety Vanessa Copeland, Attorney -in -Fact Title of Signatory 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Address of Surety (952)852-2431 Phone # of Surety Patrick Benedict 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 June 24, 2021 before me, Terri Hovdestad, Notary Public (insert name and title of the officer) personally appeared Brian G. Rupp 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. AO N �fth `_ TERRI HOVDESTAD Notary Public • California z 3 Orange County Commission # 2244544 `' �•"• My Comm. Expires Jun 28, 2022 (Seal) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE 1189 ✓\/v �:� y\/,:4�4"'✓`✓\t.V �✓`✓\l'�:;�..r .✓lY4'Y�.n.4/ W,'4:..+.."t!n✓�.' \..'�.! •✓\� \".e ../`.l\.:``w. •./\/\ _'�:..,,/..✓,\.'V�.Jn✓V..: �.:.✓.V \..� �.'„`•/\/�.'i.•41n4'"✓\a' \.."f� /\/ �...s:' ✓\/\: ":. �✓\/\� 4rV�✓\. \:'.1.. Y\ _\.'�.-:.✓ V 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 Countv of Orange ) On before me, Natassia Kirk -Smith , Notary Public, personally appeared Vanessa Copeland Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/arc subscribed to the within instrument and acknowledged to me that he/she/they- executed the same in hisiber/tlie+ authorized capacity(ics), and that by his/her/their signature(s) on the instrument the person(, or the entity upon behalf of which the person(s) acted, executed the instrument. NATASSIA KIRK -SMITH Notary Public - California Z Orange County > z = Commission R 2253818 ' My Comm, Expires Aug 12, 2Q22 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 Signatur Signature oflic --------w_w�__----���__ OPTIONAL---_�—_—_�---_—_w_—_�_�_---- Though the information below is not required by law, it may prove valuable to persons relying on the document and could present fraudulent and reattachment of this form to another document. Description of Attached Document Type or Title of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Capacity(ies) Claimed by Signer(s) Signer's Name: Vanessa Copeland ❑ Individual ❑ Corporate Officer — Title(s): ❑ Partner: ❑Limited ❑ General ® Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Signer's Name: ❑ Individual ❑ Corporate Officer — Title(s): ❑ Partner: ❑Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Rev. 1-15 intact INSURANCE KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, does hereby constitute and appoint: Eric Lowey, Mark Richardson, Teresa Jackson, Kevin Cathcart, Vanessa Copeland, each individually if there be more than one named, its true and lawful Attorney -in -Fact, to make, execute, seal and deliver, for and on its behalf as surety, any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof; provided that no bond or undertaking executed under this authority shall exceed in amount the sum of: unlimited and the execution of such bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof in pursuance of these presents, shall be as binding upon said Company as if they had been fully signed by an authorized officer of the Company and sealed with the Company seal. This Power of Attorney is made and executed by authority of the following resolutions adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the President, any Senior Vice President or Vice -President (each an "Authorized Officer") may execute for and in behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and affix the seal of the Company thereto; and that the Authorized Officer may appoint and authorize an 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 Attorney -in - Fact. Resolved: That the Attorney -in -Fact may be given full power and authority to execute for and in the name and on behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney -in -Fact shall be as binding upon the Company as if signed and sealed by an Authorized Officer and, further, the Attorney -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 WIIEREOE, 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. „IN..,,, A 4pPPORgle C)I ti SEAL m= 1986 0 STATE OF MINI IESOTA ryb �Fw vo��da' /�� By 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. E N DWAN NASH-TROUTY PUBLIC •MINNESOTAommission Expiresanuary 31, 2025 &414�_ 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 23rd day of June 2021 • \POSY „�'N S(i,9' . QGpPPORgT�,92,'i =N SEAL m 1986 o This Power of Attorney expires ryb �Fw. voP�das , January 31, 2025 Please direct bond verifications to suretvnintactinsurance.com Kara Barrow, Secretary MEMORANDUM Date: September 18, 2024 To: Monika Radeva, City Clerk Via: Bryan McKinney, P.E., Public Works Director / City Engineer From: Amy Yu, Associate Engineer Re: Bond Release for Off-Site and On-Site Improvements TM 37359, The Centre (Solterra) Please release the following bonds held in your files for the above referenced tract. The performance bond to be released now and the labor & materials bond is to be released on December 17, 2024 (90 days after City Council acceptance of the improvements). The off-site and on-site improvements were accepted by City Council on September 17, 2024. The bond amounts and the address to the developer and surety company are as follows: Bond Description Bond No.Bond Amount Grading 800016782 $1,012,538 Performance (on-site)800016783 $3,876,639 Performance (off-site)800016785 $459,032 Tract Map No. 37359 Please retain the attached Warranty Bond for the above referenced project for off-site improvements. Developer: Lorena Cox SLF-Adams Street La Quinta, LLC 18565 Jamboree Rd, Suite 200 Irvine, CA 92612 Surety Company: Atlantic Specialty Insurance Company 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Attn: Patrick Benedict If you have any questions, please contact me at extension 7047. Thank You. Warranty Bond Number Warranty Security 800016785 $34,775 September 18, 2024 Atlantic Specialty Insurance Company 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Attn: Patrick Benedict RE: TRACT MAP 37359 THE CENTRE (SOLTERRA) – RELEASE OF BONDS Dear Mr. Benedict, 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 800016782 $1,012,538 Grading 800016783 $3,876,639 Performance (On-Site) 800016785 $459,032 Performance (Off-Site) A copy of the bonds being released are enclosed for your reference. SLF-Adams Street La Quinta, LLC the developer, was also notified of the above bonds release on 09/18/2024. 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 September 18, 2024 SLF-Adams Street La Quinta, LLC 18565 Jamboree Road, Suite 200 Irvine, CA 92612 Attention: Lorena Cox RE: TRACT MAP 37359 THE CENTRE (SOLTERRA)– RELEASE OF BONDS Dear Ms. Cox, Per authorization of the City of La Quinta Public Works Department, the City Clerk’s Office has hereby released the following bonds and notified International Atlantic Specialty Insurance Company on 9/18/2024. Bond Number Bond Amount Bond Type 800016782 $1,012,538 Grading 800016783 $3,876,639 Performance (On-Site) 800016785 $459,032 Performance (Off-Site) The original paper bonds are 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 PREMIUM IS FOR THE CONTRACT TERM AND IS SUBJECT Bond No. 800016782 TO ADJUSTMENT BASED ON FINAL CONTRACT PRICE Premium: $8,607.00 FAITHFUL PERFORMANCE BOND (LQMC 8.02.01 & CBC 3311) 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 SLF-Adams Street La Quinta. LLC , as Principal, whereby Principal will be authorized to perform certain grading improvements identified in the permit, and as further detailed on the grading plans referenced therein, to privately -owned property generally known to the City and others as Tract Map 37359 The Centre ; and WHEREAS, Said Principal is required under the terms of the permit to furnish a bond for the faithful performance of the grading work in accordance with the approved plans, specifications, and permit requirements; or, 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 Atlantic Specialty Insurance Company , as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal sum of one million twelve thousand five hundred and thirty eight Dollars ($1,012,538.00 ) 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 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 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 June 23 2021 Principal (Seal) SLF-Adams Street La Quinta, LLC Signature of Principal BY: l� 4�5f . Title of Signatory `&' &yj (j,?4� ecu -+,LVtc,WM iolu►�' Atlantic Specialty Insurance Company, uretyl (Seal) Signature k5re y Vanessa Copeland, Attorney -in -Fact Title of Signatory 605 Highway 169 North, Suite 800, Plymouth, PIN 55441 Address of Surety (952)852-2431 Phone # of Surety Patrick Benedict 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 .June 24, 2021 . before me, Terri Hovdestad, Notary Public (insert name and title of the officer) personally appeared Brian G. Rupp 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. TERRI HOVDESTAD Notary Public California a� Orange County_ Commission N 2244544 Y My Comm. Expires Jun 28, 2022 (Seal) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE 1189 ,.:`^�uvV��.✓`✓�•:..✓v,.•...lvv,.v/`✓`.:...\r�,�/.�:,�:..,/•.i,...^v ��.•v.�h,..�ti ,:YWY`�ni.Y.�.i`i..','..Pv�✓�: ..:v�✓.�•r .r r•�.`'�•`�?� .�:��. ... n.�nn.,.�.•.... /... .r.nnr..`..,r..-`n., ... ..ter.,,:,:-..`. /. ., ,.. .. ..-. ... .. ... .�..`..: nn.�^. .. .... .. .. .,. 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 ) Countv of. Orange ) On (i before me, Natassia Kirk -Smith , Notary Public, personally appeared Vanessa Copeland Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/arc subscribed to the within instrument and acknowledged to me that he/she/t1ic3- executed the same in his/her/their authorized capacity(ies), and that by his/her/their 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 .. 4• y NATASSIA KIRK -SMITH paragraph is true and correct. Notary Public - California 'yre Y Orange County Commission -" 2253818 WITNESS ;Inv hand and official My Comm, Expires Aug 12. 2022 Signatu Signature o! Nu is Place Notary Seal Above _______OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could present fraudulent and reattachment of this form to another document. Description of Attached Document Type or Title of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: Vanessa Copeland ❑ Individual ❑ Corporate Officer — Title(s): ❑ Partner: ❑Limited ❑ General ® Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Number of Pages: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Individual ❑ Corporate Officer — Title(s): ❑ Partner: ❑Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Rev. 1-15 intact INSURANCE: KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, does hereby constitute and appoint: Eric Lowey, Mark Richardson, Teresa Jackson, Kevin Cathcart, Vanessa Copeland, 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 Attorney -in - Fact. Resolved: That the Attorney -in -Fact may be given full power and authority to execute for and in the name and on behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney -in -Fact shall be as binding upon the Company as if signed and sealed by an Authorized Officer and, further, the Attorney -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. .,,inn.,. V IN P �� �flFl4ilFl•iTF��,3 SEAL Y 1 g86 o s By STATE OF MINNESOTI 1y�yy rop�yb Paul J. Brehm, Senior Vice President HENNEPIN COUNTY On this twenty-seventh day of Aprii, 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. AL=-MINNESOTA OUT NOTARYSOTAMiresPV L15MA,luklxx - 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 23rd day of June 2021 '-0 SEAL. m: This Power of Attorney expiresYnRt.4b,,F: January 31, 2025 ?f •z ! N + Kara Barrow, Secretary Please direct bond verifications to Lirulwijihyactinsorr>�}r .cum PREMIUM IS FOR THE CONTRACT TERM AND IS SUBJECT TO ADJUSTMENT BASED ON FINAL CONTRACT PRICE SUBDIVISION IMPROVEMENTS Tract Map No. 37359 PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: Bond No. 800016783 Premium: $32,951.00 THAT, the City Council of the City of La Quinta has approved the final map for Tract Map No. 37359 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 SLF-Adams Street La Quinta, 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 'JU A 2 b0 , 20A�_, and identified as Tract Map No. 37359 , 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 Atlantic Specialty Insurance Company , as surety, are held and firmly bound unto the City of La Quinta hereinafter called ("City"), in the penal sum of Three million eight hundred seventy six thousand six hundred thirty nine DOLLARS ($3,876,639) 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 June 23 , 20 21 SLF-Adams Street La Quinta, LLC Principal BY: r-2--4 L:; �- (Seal) Signature of Principal Title of Signatory Atlantic Specialty Insurance Compa991 Oj)'L 4 L� -L (Seal) Signature o Surety Vanessa Copeland, Attorney -in -Fact Title of Signatory 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Address of Surety (952)852-2431 Phone # of Surety Patrick Benedict 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 June 24, 2021 before me, personally appeared Brian G. Rupp Terri Hovdestad, Notary Public (insert name and title of the officer) 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. ohm e TERRIHOVDESTAD Notary Public - California WITNESS my hand and official seal. iOrange County Commission k 2244544 My Comm. Expires Jun 28, 2022 Sirjiv t�.lre (Seal) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CPAL 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 before me, Natassia Kirk -Smith , Notary Public, personally appeared _Vanessa Copeland Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person( -a) whose name(s-) Ware 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(, or the entity upon behalf of which the person(s) acted, executed the instrument. NATASSIA KIRK -SMITH r Notary Public • California Z Orange County Commission 9 2253818 * My Comm. Expire.- Aug 12, 2022 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 officia �1 Signal re: �t, Signature n � ) hlic OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could present fraudulent and reattachment of this form to another document. Description of Attached Document Type or Title of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: Vanessa Copeland ❑ Individual ❑ Corporate Officer — Title(s)-, ❑ Partner: ❑Limited ❑ General ® Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Number of Pages: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Individual ❑ Corporate Officer — Title(s): ❑ Partner: ❑Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Rev. 1-15 intact INSURANCE KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, does hereby constitute and appoint: Eric Lowey, Mark Richardson, Teresa Jackson, Kevin Cathcart, Vanessa Copeland, each individually if there be more than one named, its true and lawful Attorney -in -Fact, to make, execute, seal and deliver, for and on its behalf as surety, any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof; provided that no bond or undertaking executed under this authority shall exceed in amount the sum of: unlimited and the execution of such bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof in pursuance of these presents, shall be as binding upon said Company as if they had been fully signed by an authorized officer of the Company and sealed with the Company seal. This Power of Attorney is made and executed by authority of the following resolutions adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the President, any Senior Vice President or Vice -President (each an "Authorized Officer") may execute for and in behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and affix the seal of the Company thereto; and that the Authorized Officer may appoint and authorize an 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 Attorney -in - Fact. Resolved: That the Attorney -in -Fact may be given full power and authority to execute for and in the name and on behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney -in -Fact shall be as binding upon the Company as if signed and sealed by an Authorized Officer and, further, the Attorney -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. ,SAL Y ,INS�A a�,Oc�PCCG1RlA;tf,r� Fly}_ 0, =Y 198fi a By STATE OF MINNESOTA ��yyfK YQ��ya� Paul J. Brehm, Senior Vice President HENNEPIN COUNTY d rr•'' 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'ndividual 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 January31, 2025 Notary Public I, the undersigned, Secretary of ATLANTIC SPECIALTY INSURANCE COMPANY, a New York Corporation, do hereby certify that the foregoing power of attorney is in full force and has not been revoked, and the resolutions set forth above are now in force. Signed and sealed. Dated 23rd day of June 2021 1 1 NSA ,. GR 9 i i ary GpAPOR,�,@ SEAL' This Power of Attorney expires January 31, 2025 Kara Barrow, Secretary Please direct bond verifications to surei}_{,jnwairiiuri]nce.csnn. PREMIUM IS FOR THE CONTRACT TERM AND IS SUBJECT TO ADJUSTMENT BASED ON FINAL CONTRACT PRICE SUBDIVISION IMPROVEMENTS Tract Map No. 37359 PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: Bond No. 800016785 Premium: $3,902 00 THAT, the City Council of the City of La Quinta has approved the final map for Tract Map No. 37359, 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 SLF-Adams Street La Quinta, 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 IuVu— r6O , 20-M , and identified as Tract Map No. 37359, 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 Atlantic Specialty 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 fifty nine thousand and thirty two DOLLARS $459,032) lawful money of the United States, forthe 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 June 23 , 2C 21 SLF-Adams Street La Quinta, LLC Principal BY:&—,; � 6? (Seal) Signature of Principal Nit RAJ Title of Signatory 'O1-j&k, CAkL#L Atlantic Specialty Insurance Company u rety (Seal) Signature o Surety Vanessa Copeland, Attorney -in -Fact Title of Signatory 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Address of Surety (952)852-2431 Phone # of Surety Patrick Benedict Contact Person For Surety CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE 1189 n'rn � �.^'n"nn".vr^.n`rn'-'.-��:.`�,: n �V � r'Fn :."non �� i- r'.". "nnrw; ::. �v �vv���� � F`:;;`:, �`!.;';; ::�.'.`•;''�`iNr'i.%.r r �'--•`�;.;;rn`Fn"1:�n`:•:'"`� :.'.Fn`'-:'` r' :?;-�%.� �v. 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 V! before me, personally appeared Natassia Kirk -Smith Vanessa Copeland Narne(s) of Signer(s) Notary Public, 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(, or the entity upon behalf of which the person(s) acted, executed the instrument. NATASSIA KIRK -SMITH Notary Public - California Orange County Commission : 22538L2JO22 My Comm. Expires Aug 1 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 offtcia s S ignatu A�\ SignatureofNotan Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could present fraudulent and reattachment of this form to another document. Description of Attached Document Type or Title of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: Vanessa Copeland ❑ Individual ❑ Corporate Officer — Title(s): ❑ Partner: ❑Limited ❑ General ® Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Number of Pages: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Individual ❑ Corporate Officer — Title(s): ❑ Partner: ❑Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Rev. 1-15 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 June 24, 2021 before me, personally appeared Brian G. Rupp Terri Hovdestad, Notary Public (insert name and title of the officer) 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. TERRIHOVDESTAD + Notary Public • California WITNESS my hand and official seal. _ : - Ory _ Commissssi ionn # 2244544 My Comm. Expires Jun 28, 2022 Slgna Lire (Seal) intact INSURANCE i • 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: Eric Lowey, Mark Richardson, Teresa Jackson, Kevin Cathcart, Vanessa Copeland, each individually if there be more than one named, its true and lawful Attorney -in -Fact, to make, execute, seal and deliver, for and on its behalf as surety, any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof; provided that no bond or undertaking executed under this authority shall exceed in amount the sum of: unlimited and the execution of such bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof in pursuance of these presents, shall be as binding upon said Company as if they had been fully signed by an authorized officer of the Company and sealed with the Company seal. This Power of Attorney is made and executed by authority of the following resolutions adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the President, any Senior Vice President or Vice -President (each an "Authorized Officer") may execute for and in behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and affix the seal of the Company thereto; and that the Authorized Officer may appoint and authorize an 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 Attorney -in - Fact. Resolved: That the Attorney -in -Fact may be given full power and authority to execute for and in the name and on behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney -in -Fact shall be as binding upon the Company as if signed and sealed by an Authorized Officer and, further, the Attorney -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. 3�4 GflRPt7R,;rf�� y S ER L �ID Y 19$6 o By STATE OF MINNE.SOTA '�s3tirw vat �b�' 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. a ALISON DWAN NASH•TROUT NOTARY PUBLIC • MINNESOTA My Commission Expires January 31, 2025 iSj'YI / 41V 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 23rd . day of June 2021 This Power of Attorney expires January 31, 2025 'i SEAL mE =- 1966 oa Kara Barrow, Secretary Please direct bond verifications to n.L'.C(n}4 MEMORANDUM Date: September 19, 2024 To: Monika Radeva, City Clerk Via: Bryan McKinney, P.E., Public Works Director / City Engineer From: Amy Yu, Associate Engineer Re: PM-10 Dust Control Bond Release, TM 37359, The Centre (Solterra) Please release the following PM-10 bond held in your files for the above referenced tract. The PM-10 bond amount and the address to the developer and surety company are as follows: Bond Description Bond No.Bond Amount PM-10 Dust Control 800016784 $28,000 Tract Map No. 37359 Developer: Lorena Cox SLF-Adams Street La Quinta, LLC 18565 Jamboree Rd, Suite 200 Irvine, CA 92612 Surety Company: Atlantic Specialty Insurance Company 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Attn: Patrick Benedict If you have any questions, please contact me at extension 7047. Thank You. September 19, 2024 Atlantic Specialty Insurance Company 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Attn: Patrick Benedict RE: TRACT MAP 37359 THE CENTRE (SOLTERRA) – RELEASE OF BOND Dear Mr. Benedict, 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 800016784 $28,000 PM10 Fugitive Dust Control A copy of the bond being released is enclosed for your reference. SLF-Adams Street La Quinta, LLC the developer, was also notified of the above bond release on 09/19/2024. 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 September 19, 2024 SLF-Adams Street La Quinta, LLC 18565 Jamboree Road, Suite 200 Irvine, CA 92612 Attention: Lorena Cox RE: TRACT MAP 37359 THE CENTRE (SOLTERRA)– RELEASE OF BOND Dear Ms. Cox, Per authorization of the City of La Quinta Public Works Department, the City Clerk’s Office has hereby released the following bond and notified International Atlantic Specialty Insurance Company on 9/19/2024. Bond Number Bond Amount Bond Type 800016784 $28,000 PM10 Fugitive Dust Control 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 PREMIUM IS FOR THE CONTRACT TERM AND IS SUBJECT Bond No. 800016784 TO ADJUSTMENT BASED ON FINAL CONTRACT PRICE Premium: $245.00 FAITHFUL PERFORMANCE BOND (LQMC 6.16) Fugitive Dust Control Bond WHEREAS, the City of La Quinta, California, is prepared to authorize SLF-Adams Street La Quinta, LLC , as Principal, to proceed with certain construction activities pursuant to one, or more permits issued by the City, for various infrastructure improvements and/or structures on, or associated with, privately -owned property generally known to the City and others as Tract Map 37359 The Centre ;and WHEREAS, all such construction and demolition activities must be performed in such manner as to conform with La Quinta Municipal Code, Chapter 6.16, entitled Fugitive Dust Control to reduce fugitive dust and corresponding PM10 emissions; and WHEREAS, said Principal is required to ensure that Fugitive Dust Control Permit # 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 Atlantic Specialty Insurance Company , as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal sum of Twenty eight thousand eight hundred Dollars ($28,800) 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 June 23 2021 SLF-Adams Street La Quinta, LLC Principal (Seal) BY: Signature of Principal �ri oun� �P -�ec�1,�c_V ta���oicla►.E ' �,-�,>Ec., Title of Signatory RLC-L Atlantic Specialty Insurance Company r $Ci lit (Seal) Signature of Su y Vanessa Copeland, Attorney -in -Fact Title of Signatory 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Address of Surety (952)852-2431 Phone # of Surety Patrick Benedict Contact Person for Surety T Drive/Checklists — Forms & Applications/Standard Dust Control Bond Form 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 June 24, 2021 before me, Terri Hovdestad, Notary Public (insert name and title of the officer) personally appeared Brian G. Rupp 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. TERRI HOVDESTAD Notary Public - California Z Z Orange County Commission k 2244544 My Comm. Expires Jun 28, 2022 (Seal) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE 1189 n%'`�`�.V�:.'✓n h'./� �'+.� t+✓-a✓4:�1n•/ri �.-; :::"H�i�i Y� �•�i•r.�;'�/v: i �'n''/.a`i+�Wti a �i� .^�i i .:..!!..` hu��.^.^ �h. i•�.��•.^.i�./,V\rV�.F:'f: ^�r �n r� �n�^'�/YW a'� ;•�!"Un Y��':1J. li i•:...;�n✓ry +a�•y' `Jh`��..: •i��'.�.: �iV •.r•i: �-�•^:. • n�v: 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 before me, Natassia Kirk -Smith Notary Public, personally appeared Vanessa Copeland Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/arc subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/th6r- authorized capacity(ies), and that by his/her/their 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 Q NATASSIA KIRK -SMITH paragraph is true and correct. Notary Public • California Orange County WITNESS my hand and official a Commission 2253818My Comm. Expires Aug 12, 2022 Signatur Signature of is Place Notary Sea] Above OPTIONAL ----- ----------------------- Though the information below is not required by law, it may prove valuable to persons relying on the document and could present fraudulent and reattachment of this form to another document. Description of Attached Document Type or Title of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: Vanessa Copeland ❑ Individual ❑ Corporate Officer — Title(s): ❑ Partner: ❑Limited ❑ General ® Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Number of Pages: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Individual ❑ Corporate Officer — Title(s): ❑ Partner: ❑Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: �.. n . ... /. /'.. � hVh Y:..whJl,Yn�'.`^.��',`�i...".4 � . �i'.✓i�'�lv�"� �i_•//..�i �+i� i� h"-�.';...vF+�h�i'r"`��I� n .'. r..� /1 n ti�'.�J'.. F�✓,`V�Vi�'lh�l� +�4iA i� h''.�••i�Jn'�n ti �^�VAyh'�+�''�Vi'� �"��: i . h h h +�'iA��.l��-�,".i `�.yh Rev. "1-15 intact INSURANCE KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, does hereby constitute and appoint: Eric Lowey, Mark Richardson, Teresa Jackson, Kevin Cathcart, Vanessa Copeland, each individually if there be more than one named, its true and lawful Attorney -in -Fact, to make, execute, seal and deliver, for and on its behalf as surety, any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof; provided that no bond or undertaking executed under this authority shall exceed in amount the sum of: unlimited and the execution of such bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof in pursuance of these presents, shall be as binding upon said Company as if they had been fully signed by an authorized officer of the Company and sealed with the Company seal. This Power of Attorney is made and executed by authority of the following resolutions adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the President, any Senior Vice President or Vice -President (each an "Authorized Officer") may execute for and in behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and affix the seal of the Company thereto; and that the Authorized Officer may appoint and authorize an 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 Attorney -in - Fact. Resolved: That the Attorney -in -Fact may be given full power and authority to execute for and in the name and on behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney -in -Fact shall be as binding upon the Company as if signed and sealed by an Authorized Officer and, further, the Attomey-in-Fact is hereby authorized to verify any affidavit required to be attached to bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof. This power of attorney is signed and sealed by facsimile under the authority of the following Resolution adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the signature of an Authorized Officer, the signature of the Secretary or the Assistant Secretary, and the Company seal may be affixed by facsimile to any power of attorney or to any certificate relating thereto appointing an 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. ,, P�'jy JNSG• ,•. Q GpF =� SEALm? Ae L2 r 1986 0; STATE OF MINNE30Ti1 yb �Fw roP�-A '`,1b By 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. mob, ALISON DWAN NASH•TROUT NOTARY PUBLIC • MINNESOTA My Commission Expires January 31, 2025 kuklx4l_ 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 23rd day of June 2021 rQf� ok?ORATF =y SEAL m `—' 1986 0 This Power of Attorney expires r26 tiFw YOP` i�:' January 31, 2025 Kara Barrow, Secretary Please direct bond verifications to surervrrDintactinsuranracom