Stamko & Spanos/Adams Median 00CITY OF LA QUINTA
REIMBURSEMENT AGREEMENT
ADAMS STREET MEDIAN
(Avenue 47 to Avenue 48)
THIS REIMBLAPSEMEV AGREEMENT (the "Agreement") is made and entered into this /,
day of , 2000, by and between the Stamko Development Company, a California
Limited Part rship (the "Stamko"), The Spanos Corporation, a California Corporation ("Spanos") and the
City of La uinta, California, a California Charter City (the "City").
A. Stamko is the sub -divider and developer of property in the City of La Quinta subject to the
provisions of Specific Plan 97-029 (the "Development"), which property is located on the east side of
Adams Street and south side of Hwy. 111.
B. City, through its Redevelopment Agency, is Owner of the parcel of land located on the east side
of Adams Street from the south boundary of the Development to Avenue 48 (the City property).
C. Spanos is the original sub -divide of Tract 24230 ("Lake La Quinta") located on the west side of
Adams Street from Avenue 47 to Avenue 48, is the current owner of Lot 285 of Lake La Quinta.
D. Conditions of approval for the Development obligate Stamko to construct a raised landscape
median on Adams Street from Avenue 47 to the south boundary of the Development (the Northerly Median).
A Development Agreement between Stamko and City dated December 1, 1998 provides that Stamko shall
be responsible for fifty percent (50%) of the cost of the Northerly Median.
E. Conditions of Approval for the Lake La Quinta and a Subdivision Improvement Agreement between
Spanos and City dated February 20, 1990, hold Spanos responsible for fifty percent (50%) of the landscape
median on Adams Street from Avenue 47 to Avenue 48, including that portion adjacent to Lot 285.
F. The parties hereto desire that at the time of construction of the Northerly Median, Stamko also
construct the median from the south boundary of the Development to Avenue 48 (the "Southerly Median"),
subject to reimbursement of the full cost thereof.
F. Prior to undertaking construction of the Northerly Median and the Southerly Median (the
"Improvements), Stamko desires to ensure timely reimbursement (the "Reimbursement") of the portion of
the costs thereof for which Stamko is not responsible.
NOW, THEREFORE, it is agreed by and between the parties hereto as follows:
1. Responsibilities of Stamko. Stamko shall design and construct the Northerly Median and the
Southerly Median, shall maintain the landscaping thereon during a 60-day landscape establishment period
following completion of the Improvements to the satisfaction of the City Engineer, and shall bear the full
cost thereof.
2. Responsibilities of City. City shall reimburse Stamko for the percentage cost of construction and
maintenance of the improvements as designated on Exhibit B as the City's responsibility.
3. Responsibilities of Spanos. Spanos shall reimburse Stamko for the percentage cost of construction
and maintenance of the improvements as designated on Exhibit B as Spanos' responsibility.
j 4. Advance Depositof Estimated Costs. Within seven business days of the execution of this
agreement by all parties, each party hereto shall advance to City, to be held in a separate fund balance, the
estimated amount of their contribution as specified in Exhibit B. Stamko shall not commence construction
of the Improvements until !all funds have been received by City.
In the event that as work progresses on the improvements the funds are paid out down to 10%
(ten percent) of the total estimated amount, each party shall, within ten (10) calendar days of notice by the
City, pay an additional 10% (ten percent) of their pro rata share as specified in Exhibit B. After the
Improvements are complete and accepted by City, any funds remaining in the account shall be paid back
in the pro rata amounts of the contributions. Final payments shall be at the time and according to the City's
standard practice for final release of bonds or securities for developer -funded improvements required under
a subdivision map.
5. Reimbursement td Stamko. Reimbursement for work performed as outlined on Exhibit A shall be
according to the procedure set out in Section 7(a)(3) of that certain lease agreement between Stamko
and City dated December 1, 1998.
6. Warranty. Stam',ko shall warrant the Improvements, which include the palms and trees, and
the hardscape, electrical and irrigation elements, for a period of one year following their completion and
acceptance by the City which period shall begin at the end of the sixty (60) day landscape
establishment period.
7. Disputes. In the event of any dispute arising under this Agreement, the injured party shall
notify the injuring party' of its contentions by submitting a claim therefor. The injured party shall
continue performing its obligations incurred herein so long as the injuring party commences to cure such
injuring action within tern (10) business days of service of such notice and completes the cure within
forty-five (45) calendar days after the notification, or such longer period as may be agreed upon by the
parties.
8. Attornek's Fees. If any party commences an action against the other arising out of or in
connection with this Agreement, including the filing of a lien or other legal action to compel payment
of the Reimbursement, the prevailing party shall be entitled to recover reasonable attorney's fees and
legal costs from the losing party.
9. Indemnification; Stamko agrees to indemnify, defend and hold City and Spanos and their
officers, employees, agents, representatives, and assigns harmless from and against any losses, claims,
demands, actions, or Causes of action, of any nature whatsoever, arising out of or in any way
connected with the performance of Stamko, its officers, employees, agents, or representatives under
this Agreement, including costs of suit and reasonable attorneys' fees.
10. City Officers arnd Employees. No officer or employee of City shall be personally liable to
Stamko or Spanos or any successors in interest in the event of any default or breach by City or for any
amount which may become due to Stamko or Spanos or their successors in interest or for breach of
any obligation of the terms of this Agreement.
11. Term of Agreement. This Agreement shall remain in full force and effect for one year following
the date it has been executed by both parties.
12. Notice. Any notice, demand, request, consent, approval, or communication either party desires
or is required to give to the other party or any person shall be in writing and either served personally
or sent by prepaid, firs: -class mail to the address set forth below. Notice shall be deemed
communicated forty-eight (48) hours from the time of mailing if mailed as provided in this Section.
To City: City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
Attn: City Engineer
To Stamko: Stamko Development Co.
2205 N. Poinsettia Ave
Manhattan Beach, CA 90266
310/546-3479
Attn: Christine F. Clarke
To Spanos: 1 The Spanos Corporation
3773 Howard Hughes Parkway
Suite 590 South
Las Vegas, NV 89109
702/733-3930
Attn: Ray Hanes, Vice President
obligations hereunder tobli 13. Assignment of Agreement. The parties hereto may not assign their o g
any assignee without the knowledge and consent of the other parties hereto which other parties shall
not unreasonably withhold consent. Assignment may be made only to an assignee willing, financially
capable and competent to carry out the assignor's obligations.
14. General Provisidns.
A. Except as otherwise provided herein, the terms, conditions, covenants, and agreements set
forth herein shall apply to and bind the heirs, executors, administrators, assigns, and successors of the
parties hereto.
B. The parties to this Agreement do not rely upon any warranty or representation not contained
in this Agreement.
C. This Agreement shall be governed by and interpreted with respect to the laws of the State
of California.
D. Any failure II'or delay by any party in asserting any of its rights and remedies as to any
default shall not operatle as a waiver of any default or of any rights or remedies provided for herein.
E. This Agreement may be amended at any time by the mutual consent of the parties by an
instrument in writing signed by the parties.
15. Severability. In ;the event that any provision or provisions of this Agreement are held
unenforceable, all provisions not so held shall remain in full force and effect.
16. Authority of Signtories. The persons executing this Agreement on behalf of the parties hereto
warrant that they are duly, authorized to execute this Agreement on behalf of said parties and that by
so executing this Agreement the parties are formally bound to the provisions of this Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
written above.
Approved as to Form: i [ ' -
City Attorney
City: City of La buinta
78-495 Colle Tampico
La Quinta,'ICA 92253
. -1 Nzpc-�-
Tom Genovese, City Manager
ATTEST:
Stamko: Stamko Development Co.
05 N. Poinsettia Ave
c-)nhattan Beach, CA 90
By:
Title:
Spanos: The Span
s Corporation
3773 Ho
and Hughes Parkway
Suite 59
S
Las Vega
, NV 89109
M
r
Title: V I G e
;c
Date
%/a un5v
Date
Date
EXHIBIT A
ADAMS STREET
MEDIAN I LANDIMEDIAN ISLAND LANDSCAPE IMPROVEMENTS
PROJECT BUDGET
1. ADAMS STREET -
Item
Median Curb
Landscaping
Roadway Excavation
AC Paving
Traffic Control
ae 47 to Via Grazianna (Approx. 1,040LF)
Qty
Unit
Unit Cost
Total
1880
LF
$8.75
$16,450.00
9800
SF
$5.00
$49,000.00
11900
SF
$1.00
$11,900.00
2100
SF
$4.50
$9,450.00
1
LS
$2,000.00
$2,000.00
TOTAL:
$88,800.00
2. ADAMS STREET - Via Grazianna to Avenue 48 (Approx. 1.320LF)
Item
Median Curb
Landscaping
Roadway Excavation
AC Paving
Slurry Seal
Traffic Control
TOTAL
Qty
Unit
Unit Cost
Total
2160
LF
$8.75
$18,900.00
11760
SF
$5.00
$58,800.00
14400
SF
$1.00
$14,400.00
2640
SF
$4.50
$11,880.00
15840
SF
$0.15
$2,376.00
1
LS
$2,000.00
$2,000.00
TOTAL:
$108,356.00
nMATED CONSTRUCTION COST: $197,156.00
ENGINEERING (10%): $19,715.60
ISTRUCTION MANAGEMENT (6%) $11,829.36
MATERIALS TESTING (1.5%) $2,957.34
CONSTRUCTION STAKING (3%): $5,914.68
AGENCY PERMIT FEES (3%): $5,914.68
DEVELOPER INSURANCE (1.5%): $2,957.34
CITY CONSULTANT (3.50/9): $6,900.46
SUBTOTAL: $253,345.46
CONTINGENCY (15%): $38,001.82
GRAND TOTAL: $291,347.28
As of. December 27, ) 999
EXHIBIT B
ADAMS STREET '
MEDIAN ISLAN /MEDIAN ISLAND LANDSCAPE IMPROVEMENTS
COST DISTRIBUTION
ADAMS STREET - Avenue 47 to Via Grazianna (Approx. 1,0401-F)
TOTAL ESTIMATED CONSTRUCTION COST: $88,800.00
ENGINEERING (10%):
$8,880.00
CONS RUCTION MANAGEMENT (6%)
$5,328.00
MATERIALS TESTING (1.5%):
$1,332.00
ONSTRUCTION STAKING (3%):
$2,664.00
AGENCY PERMIT FEES (3%):
$2,664.00
EVELOPER INSURANCE (1.5%)
$1,332.00
CITY CONSULTANT (3.5%):
$3,108.00
SUBTOTAL:
$114,108.00
CONTINGENCY (15%):
$17,116.20
GRAND TOTAL:
$131,224.20
St mko -1,040 LF Frontage E-side: $65,612.10
Lake La Quinta/S anos - 500 LF Frontage W-side: $31,493.81
Lake La Quinta/S anos - 540 LF Frontage W-side: $34,118.29
Total: $131,224.20
ADAMS STREET - Vial Grazianna to Avenue 48 (Approx. 1,3201-F)
TOTAL EST MATED CONSTRUCTION COST:
$108,356.00
ENGINEERING (10%):
$10,835.60
CON TRUCTION MANAGEMENT (6%)
$6,501.36
MATERIALS TESTING (1.5%):
$1,625.34
CONSTRUCTION STAKING (3%):
$3,250.68
AGENCY PERMIT FEES (3%):
$3,250.68
DEVELOPER INSURANCE (1.5%)
$1,625.34
CITY CONSULTANT (3.5%):
$3,792.46
SUBTOTAL:
$139,237.46
CONTINGENCY (15%): $20,885.62
GRAND TOTAL: $160,123.08
tamko - 240 LF Frontage E-side:
$14,411.08
City of L
Quinta - 500 LF Frontage E-side:
$30,423.39
City of L
Quinta - 580 LF Frontage E-side:
$35,227.08
Lake La Quinta/S
anos -1,320 LF Frontage W-side:
$80,061.54
Total:
$160,123.08
AL CONTRIBUTIONS (Avenue 47 to Avenue 48)
STAMKO:
CITY OF LA QUINTA:
LAKE LA QUINTA/SPANOS:
TOTAL:
SHARE PERCENT
$80,023.18 27.47%
$65,650.46 22.53%
$145,673.64 50.00%
$291,347.28
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