2024-04-25 LQ Press Release re SDC Failure to Cure Notice & Confirmation of DefaultFrom: City of La Quinta, CA <LaQuintaCA@public.govdelivery.com>
Sent: Thursday, April 25, 2024 4:32 PM
To: Monika Radeva
Subject: La Quinta, CA: Press Release (April 25, 2024): City of La Quinta Update on Previously
Issued Notice of Default for Robert Green Company and SilverRock Development
Company
EXTERNAL: This message originated outside of the City of La Quinta. Please use proper judgement and caution when opening
attachments, clicking links or responding to requests for information.
adift
hl rUr%Q'PO rA
Press Release (April 25, 2024): City of La Quinta Update on Previously Issued Notice of Default
for Robert Green Company and SilverRock Development Company
Post Date: 04/25/2024 4:19 PM
Contact:
Marcie Graham
Marketing Manager
760.777.7032
Email: mgraham@laquintaca.gov
For Immediate Release
April 25, 2024
CITY OF LA QUINTA UPDATE ON PREVIOUSLY ISSUED NOTICE OF DEFAULT FOR ROBERT GREEN COMPANY
AND SILVERROCK DEVELOPMENT COMPANY
1
La Quinta, CA: Robert Green and the SilverRock Development Co. LLC (collectively SDC) have failed to
complete the cure on a Notice of Default on the Talus development issued by the City of La Quinta on April 17,
2024, within the required seven-day window that ended at midnight April 24, 2024.
Among the items that SDC failed to complete under the Notice of Default are (a) payment of all obligations
owed to Cypress Point Holdings (Cypress), a corporate investment firm for Talus, or (b) the execution of
forbearance agreement(s) with Cypress.
The City is working collaboratively with all parties involved, including Cypress, which recorded a Notice of
Trustee's Sale against SDC on April 17, 2024, and is prepared, if necessary, to initiate litigation to protect the
City's interests.
###
Click here for more information
Stay connected with the City of La Quinta, California:
riri
SUBSCRIBER SERVICES:
Manage Subscriptions 1 Unsubscribe All 1 Help
This email was sent to mradeva@laquintaca.gov using govDelivery Communications Cloud on behalf of: City of La Quinta, California •
78-495 Calle Tampico • La Quinta, CA 92253 [JOVDELIVERY
2