31289 Lakefront Investors - OBR & Released BondsOUTSTANDING BOND REPORT
Name: Lakefront Investors Inc. (Lake La Quintal
Tract No. 31289
Date of Contract: July 3, 2003
Required Bond Amounts:
Grading
Streets
Water
Sewer
Peri. Landscaping
Plans Contingency
Prof. Fees Construction
Standard Contingency
Dates of Bond Reductions:
$ 79,464
performance/labor & materials
$ 21,702
same
$ 8,400
same
$ 35,000
same
$ 37,000
same
$ 18,156.60
same
$ 18,156.60
same
$ 21,787.90
same
Outstanding Bonds and Bond Company: Insurance Co. of the West
Amount:
Bond No.
Date Cancelled/Released:
$239,667.10 (P) 2084476 Released 4/24/07
$ 18,157.00 (W) 2207459 Released 4/3/08
$239,667.10 (L&M) same Released 6/12/07
P.O. Box 1504
LA QUINTA, CALIFORNIA 92247-1504
78-495 CALLF TAMPICO (760) 7 7 7 - 7 0 0 0
LA QUINTA, CALIFORNIA 92253 FAX (760) 777-7101
April 3, 2008
Lakefront Investors, Inc.
Chris Inman
47-610 Via Montana
La Quinta, CA. 92253
Re: Tract Map 31289
To Whom It May Concern:
Per authorization from the Public Works Department, the City Clerk's Office hereby
releases Warranty Bond 2207459 in the amount of $18,157.
If you have any questions, please call me at (760) 777-7002.
Sincerely,`" f/
VERONICA J. TECINO, City Clerk
City of La Quinta, California
cc: Tim Jonasson, Public Works Director/City Engineer
Insurance Company of the West
File
C&r 4 44U&rw
MEMORANDUM
To: Veronica J. Montecino, CMC, City Clerk
From: Ed Wimmer, Development Services Principal Engineer
Via: Fothy R. Jonasson, Public Works Director / City Engineer
Date: March 28, 2008
Re: Release of Warranty Security for Tract Map No. 31289, Lake La
Quinta
Please release the following warranty security held in your files for the above
referenced tract. The on -site improvements were accepted by City Council on
March 6, 2007.
The warranty amount and the address to the developer and Surety Company are as
follow:
Tract Map No. 31289
Warranty Bond No. Warranty Amount
2207459 $18,157
Developer: Mr. Chris Inman
Lakefront Investors, Inc.
47-610 Via Montana
La Quinta, CA 92253
Surety Company: Insurance Company of the West
1 1-455 El Camino Real
San Diego, CA 92130
cc: Project File I, Tract Map No. 31289
Amy Yu, Assistant Engineer II
TATracts_Parcel Maps_SP\30000-39999\31289\internal correspond ence\Release of Warranty Security memo TM 31289.doc
M
P.O. Box 1504
LA QUINTA, CALIFORNIA 92247-1504
78-495 CALLS TAMPICO (760) 7 7 7 - 7 0 0 0
LA QUINTA, CALIFORNIA 92253 FAX (760) 777-7101
June 12, 2007
Lakefront Investors, Inc.
Chris Inman
47-610 Via Montana
La Quinta, CA. 92253
Re: Tract Map 31289
To Whom It May Concern:
Per authorization from the Public Works Department, the City Clerk's Office hereby
releases Labor & Materials Bond 2084476 in the amount of $239,667.10.
If you have any questions, please call me at (760) 777-7002.
Sincerely
VERONICA J.
City of La Qui
MW4TECINO, City Clerk
i`fa, California
cc: Tim Jonasson, Public Works Director/City Engineer
Insurance Company of the West
File
Twyl 4 44uhirw
MEMORANDUM
To: Veronica J. Montecino, CIVIC, City Clerk
From: NWimmer, Development Services Principal Engineer
Via: Timothy R. Jonasson, Public Works Director / City Engineer
Date: June 7, 2007
Re: Release of Labor & Materials Security for Tract Map No. 31289, Lake
La Quinta, On -site Improvements
Please release the following on -site labor & materials security held in your files for
the above referenced tract. The on -site improvements were accepted by City
Council on March 6, 2007; therefore, the retention of the Labor & Materials 90-day
period was completed on June 3, 2007.
The amount and the address to the developer and surety company are as follows:
TRACT No. 31289
Security
Bond No.
Security
Amount
Labor & Materials Security
208 44 76
$239,667.10
Developer: Mr. Chris Inman
Lakefront Investors, Inc.
47-610 Via Montana
La Quinta,. CA 92253
Surety Company: Insurance Company of the West
11455 El Camino Real
San Diego, CA 92130
cc: Project File I, Tract Map No. 31289
Daniel Valenzuela, Assistant Engineer I
T:\Tracts\30000-39999\31289\internal correspondence\TM 31289, Lake La Quinta, Release of L&M memo.doc
TH
April 24, 2007
Lakefront Investors, Inc.
Chris Inman
47-610 Via Montana
La Quinta, CA. 92253
Re: Tract Map 31289
To Whom It May Concern:
Per authorization from the Public Works Department, the City Clerk's Office has
received Warranty Bond 2207459 in the amount of $18,157 and hereby releases
Performance Bond 2084476 in the amount of $239,667.10.
If you have any questions, please call me at (760) 777-7002.
Sincerely
VERONICA J. M TECINO, City Clerk
City of La Quinta, California
cc: Tim Jonasson, Public Works Director/City Engineer
Insurance Company of the West
File
P.O. Box 1504 • LA QUINTA, CALIFORNIA 92247-1504
78 495 CALLE TAMPICO • LA QUINTA, CALIFORNIA 92253
(760) 777-7000 -FAX (760) 7 77-7101 (�'
T..,Mf ot 4 a"
MEMORANDUM
To: Veronica Montecino, City Clerk
From: Ed Wimmer, Development Services Principal Engineer
Via: A
mothy R. Jonasson, Public Works Director / City Engineer
Date: April 12, 2007
Re: Release of all Performance Security for Tract Map No. 31289, Lake La
Quinta, On -site Improvements
Please release the following on -site performance security held in your files for the
above referenced tract. All on -site work associated with the conditions of approval
has been completed. Additionally, all obligations of the Subdivision Improvement
Agreement have been satisfied. The on -site improvements were accepted by City
Council on March 6, 2007.
The bond amount and the address to the surety company are as follows:
TRACT No. 31289
Bond Description Bond Number Bond Amount
Performance 2084476 $239,667.10
Developer: Mr. Chris Inman
Lakefront Investors, Inc.
47-610 Via Montana
La Quinta, CA 92253
Surety Company: Insurance Company of the West
1 1-455 El Camino Real
San Diego, CA 92130
Cc: Project File I, Tract Map No. 31289
Daniel Valenzuela, Assistant Engineer I
T:\Tracts\30000-39999\31289\internal correspondence\TM 31289 - Lake La Quinta, Release of Bonds memo.doc
T iht 4 4 49 dAtev
MEMORANDUM
To: Veronica Montecino, City Clerk
From: Ed Wimmer, Development Services Principal Engineer
Via: Timothy R. Jonasson, Public Works Director / City Engineer
Date: February 9, 2007
Re: Retain Warranty Security for Tract Map No. 31289, Lake Front at La
Quinta Improvements
Please retain the attached Warranty Security for Tract Map No. 31289, Lake Front
at La Quinta improvements. Once the improvements are accepted by City Council,
a memorandum will be forwarded to you with instructions as to the disposal of the
current bonds.
The warranty security is as follows:
Tract No. Warranty Bond No. Warranty Amount
31289 1 220 7459 1 $18,157
Cc: Project File I, Tract Map No. 31289
T:\Tracts\30000-39999\31289\internal correspondence\TM 31289, Lake Front @ La Quinta - Clerk Hold Warranty Security
Memo.doc
i
S'IILJ.'.B b A� N
(Subdivision Agreement)
Bond No.: 2084476
Premium: $Included in Performance bond
WHEREAS, the City Council of the CITY OF LA QUINTA, State of California, and LAKEFRONT
INVESTORS, INC. (hereinafter designated as "principal") have entered into an agreement whereby principal agrees to
install and complete certain designated public improvements, which said agreement, dated JULY, 25, 2003 and identified
as project TRACT #31289, is hereby referred to and made a part hereof; and,
WHEREAS, under the terms of said agreement, principal is required before entering upon the performance of the
work, to file a good and sufficient payment bond with the INSURANCE COMPANY OF THE WEST to secure the claims
to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the
State of California.
NOW, THEREFORE, said principal and the undersigned as corporate surety, are held firmly bound unto the
CITY OF LA QUINTA and all contractors, subcontractors, laborers, material men and other persons employed in the
performance of the aforesaid agreement and referred to in the aforesaid Code of Civil Procedure in the sum of TWO
HUNDRED THIRTY NINE THOUSAND SIX HUNDRED SIXTY SEVEN & 10/100 dollars ($ 239,667.10), for materials
furnished or labor thereon of any kind, or for amounts due the Unemployment Insurance Act with respect to such work or
labor, that said 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 attorney's fees, incurred by
City in successfully enforcing such 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 said
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 AUGUST 1, 2003.
Address of Surety Principal
11455 El Camino Real, San Diego, CA 92130 LAKEFRONT INVESTORS, INC.
Acknowledgment by attorney -in -fact must be attached.
CA-ICW 48 (7/00)
INS NCE COMPANY OF THA WEST
--14 n %--
By:
(N-.--�(,hJJJj W LAZ-614�
DTANE M. NIEL
Attorney -In -Fact
FAITHFUL PERFORMANCE BOND
(Subdivision Agreement)
Bond No.: 2084476
Premium: $5,293.00
WHEREAS, the City Council of the CITY OF LA QUINTA, State of California, and LAKEFRONT
INVESTORS INC (herein designated as "principal") have entered into an agreement whereby principal agrees to install and
complete certain designated public improvements, which said agreement, dated JULY, 25, 2003 and identified as project
TRACT #31289, is hereby referred to and made a part hereof; and,
WHEREAS, said principal is required under the terms of said agreement to furnish a bond for the faithful
performance of said agreement.
NOW, THEREFORE, we, the principal and INSURANCE COMPANY OF THE WEST, as surety, are held and
firmly bound unto the CITY OF LA QUINTA, (hereinafter called "City"), in the penal sum of TWO HUNDRED THIRTY
NINE THOUSAND SIX HUNDRED SIXTY SEVEN & 10/100 dollars ($ 239,667.10) lawful money of the United States,
for the payment of which sum well and truly 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 it's 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 part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be
included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by 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 thereunder or the specifications accompanying the same shall in anywise affect its
obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the
terms of the 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 AUGUST 1, 2003.
Address of Surety Principal
11455 El Camino Real, San Diego, CA 92130 LAKEFRONT INVESTORS INC _
INSLWNCE COMANY OF
By:
(Z�� (,&a i* 9LCZ-7--t
DINNE M. NIELSEN, Attorney -In -Fact
Acknowledgment by attorney -in -fact must be attached.
CA-ICW 18 (7/00)
CITY OF LA QUINTA
PUBLIC WORKS DEPARTMENT
INTEROFFICE MEMORANDUM
TO: PHYLIS MANLEY, DEPUTY CITY CLERK �
FROM: JESSE G. JIMENEZ, COUNTER TECHNICIAN
SUBJECT: TRACT 31289 — LAKE LA QUINTA BONDS AND SIA
DATE: JUNE 20, 2003
Please hold all of the following for safe keeping until final tract map arrives for
your department signature.
(1) Faithful Performance Bond - (Bond # 2084476- amount $239,667.10)
(1) Subdivider's Payment Bond — Bond # 2084476- amount $239,667.10)
If you have any questions or need additional information please call me at
extension 7089.
Thank you
JGJ
Cc: Brian Ching, Associate Engineer
Tract File 31289