2004 - 30420 Stamko Development - SIA Amendment & Original SIA Off-SiteCITY OF LA QUINTA
AMENDED SUBDIVISION IMPROVEMENT AGREEMENT
PARCEL MAP NO. 30420
THIS AMENDED SUBD V)SION IMPROVEMENT AGREEMENT (the " greement") is made and entered
into this -04119 day of ,
20 6 4Z , by and between Stamko Development Co., a Limited artnership organized under the
laws of the State of California hereinafter referred to as "Subdivider," and the City of La Quinta, a
municipal corporation of the State of California, hereinafter referred to as "City."
RECITALS:
A. Subdivider has prepared and filed a final map or Parcel map (the "Map") of a unit of land in the City of
La Quinta, County of Riverside, which unit of land is known as Parcel No. 30420 (the "Parcel")
pursuant to the provisions of Section 66410, et sec. of the California Government Code (the
"Subdivision Map Act").
B. Prior to approval of the Map, Subdivider is required to install or agree to install certain public and
private improvements (the "Improvements").
C. The Improvements have not been installed and accepted at this time.
D. It is therefore necessary that Subdivider and City enter into an agreement for the installation of the
Improvements as provided in Section 66462 of the Subdivision Map Act.
NOW, THEREFORE, it is agreed by and between the parties hereto as follows:
1. Improvement Plans. Prior to submittal of the Map for approval by the City Council, Subdivider shall
furnish original improvement plans meeting the requirements of the City Engineer.
2. Improvements. Subdivider shall construct the public and private street, drainage, utility, landscaping,
and other improvements required to be constructed or agreed to be constructed under this
Agreement as listed in Exhibit "A", and shall bear the full cost thereof. The methods, standards,
specifications, sequence, and scheduling of construction shall be as approved by the City Engineer.
3. Improvement Security.
A. One class of security to be provided by Subdivider, hereinafter referred to as performance
security," shall assure the faithful performance of this Agreement including construction of the
Improvements, payment of Subdivider's fair share of Improvements which have been or will be
constructed by others ("Participatory Improvements"), and payment of plan check and permit
fees. A second class of security to be provided by Subdivider, hereinafter referred to as
"payment security," shall assure the payment of the cost of labor, equipment and materials
supplied to construct the Improvements. A third class of security to be provided by Subdivider,
hereinafter referred to as "warranty security," shall serve as a guarantee and warranty of the
Improvements for a period of one year following the completion and acceptance of the
Improvements. Subdivider shall furnish performance and payment security prior to and as a
condition of City Council approval of the Map. Subdivider shall provide warranty security after
Improvements are complete and accepted by the City Council and prior to or concurrently with
the final release of performance security. Warranty security shall not be required for
Monumentation or Participatory Improvements. However, the City may utilize Monumentation
Security for performance of or payment for the work in accordance with the Subdivision Map Act.
As part of the obligation secured by each of the performance security, payment security and
warranty security, and in addition to the face amount of each such security, each such security
shall include and assure the payment of costs and reasonable expenses and fees, including
reasonable attorney's fees, incurred by City in successfully enforcing the obligations thereby
secured.
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B. Improvement security shall conform with Section 66499 of the California Government Code and
one or more of the following:
1) A cash deposit with City or a responsible escrow agent or trust company, at City's option.
2) Surety bonds, of the form specified in subsection 66499.2 of the California Government
Code, issued by a surety or sureties listed in the U.S. Department of Treasury Circular 570
(latest version).
3) Certificates of deposit, in City's name, from one or more financial institutions subject to
regulation by the state or federal government and having a financial quality rating of "A" or
better and a commitment reliability rating of "R-2" or better on the Investment Data Exchange
(of the Los Angeles County Treasurer's office).
4) Irrevocable letters of credit, issued by one or more financial institutions meeting the
requirements of Paragraph (3), pledging that the funds necessary to carry out the completion
of the Improvements are on deposit, guaranteed for payment, and constitute a trust fund
which is not subject to levy or attachment by any creditor of the depositor until released by
City. Letters of credit shall guarantee that all or any portion of the funds available pursuant to
the letters of credit will be paid upon the written demand of City and that such written demand
need not present documentation of any type as a condition of payment, including proof of
loss. The duration of any such letter of credit shall be for a period of not less than one year
from the execution of the agreement with which it is provided and shall state, on its face, that
the letter of credit will be automatically renewed until such time that City authorizes its
expiration or until sixty (60) days after City receives notice from the financial institution of
intent to allow expiration of the letter of credit.
5) A lien upon the subdivided property, if City finds that it would not be in the public interest to
require the installation of the Improvements sooner than two (2) years after recordation of the
final map or parcel map for which the Improvements are required. The lien shall provide a
collateral value of three (3) times the estimated cost of the Improvements and shall include
the power of sale of the real property, all buildings and improvements thereon, or that may be
erected upon or made thereto, together with all hereditaments and appurtenances thereunto
belonging, or in any wise appertaining, and the reservations, remainders, rents, issues, and
profits thereof. The collateral value of the property shall be established at Subdivider's
expense through an appraisal approved by City.
6) An instrument of credit from an agency of the state, federal or local government, when any
agency of the state, federal, or local government provides at least Twenty Percent (20%) of
the financing for the Improvements.
7) When Subdivider is a non-profit organization, security may be negotiable bonds, of the kind
approved for securing deposits of public moneys with City or in favor of City, as specified in
Section 16430 of the California Government Code, deposited, at City's option, with City or a
responsible escrow agent or trust company.
C. All securities shall be furnished in accordance with the provisions of Exhibit A. The amount of the
performance security shall equal One Hundred Percent (100%) of the estimated cost of
constructing the Improvements, including payment of plan check and permit fees, as estimated by
the City Engineer or a duly authorized representative of the City Engineer. The amount of
Payment security shall equal the amount of the amount of performance security, except as
otherwise set forth in Exhibit A, and shall be furnished as a separate security. Warranty security
shall equal Ten Percent (10%) of the amount of performance security except as otherwise set
forth in Exhibit A.
D. At the time of submittal of security, Subdivider shall pay to City administrative fees applicable to
the form of security provided. Administrative fees shall apply to the subdivision (final map, parcel
map or waiver of parcel map) rather than to individual security instruments. The fees shall be
paid separately for each different form and/or source (surety or financial institution) of security
initially submitted and for substitution of securities but shall not be required for submittal of
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warranty security if the warranty security is of the same form and from the same source as the
performance security it replaces. Administrative fees for security shall be as follows:
1) For certificates of deposit, bonds and letters of credit as described in Paragraphs 2), 3) and
4) of SECTION 3.13., which require the establishment of evidence of the reliability of the
surety or financial institution, the administrative fee shall be One Hundred Fifty Dollars
($150.00).
2) For liens on real property as described in Paragraph 5) of SECTION 3.13., for which City will
prepare lien agreements and subordination agreements, administer valuation of the real
property and administer the agreements over the life of the lien, all of which require legal
assistance and financial advice, Subdivider shall pay to City an administration fee of One Half
of One Percent (0.5%) of the estimated cost of the improvements secured but not less than
Five Hundred Dollars ($500.00) nor more than Five Thousand Dollars ($5,000.00).
3) For other forms of security listed in Section 3 B, above, there will be no administrative fee.
E. Participatory Improvements, if any, are identified in Exhibit A. Security for Participatory
Improvements shall remain in place until the Participatory Improvements are constructed and
actual costs are known and paid by Subdivider, or until Subdivider pays to City the estimated cost
of the Participatory Improvements, and shall guarantee the reimbursement by Subdivider of
Subdivider's share of the cost of the Participatory Improvements. Payment security and warranty
security shall not be required for Participatory Improvements.
Upon written demand from City, Subdivider shall deposit cash with City in lieu of or in
replacement of security guaranteeing Participatory Improvements. If Subdivider fails to deposit
said cash within 30 days of the date of the written demand from City, City may present a written
demand to Subdivider's Surety for payment of said cash and Subdivider's Surety shall pay to City
the lesser of: 1) the amount demanded, or 2) the amount of the security.
F. Security shall not expire, be reduced or become wholly or partially invalid for any reason,
including non-payment of premiums, modifications of this Agreement and/or expiration of the time
for performance stated in this Agreement, without express authorization from City unless the
surety provides City with sixty (60) days written notice by registered or certified mail, return
receipt requested.
G. Security shall be released in the following manner:
1) Performance security shall be released upon the final completion and acceptance or
approval, by the City Council of the Improvements subject to the provisions of paragraph B.
2) The City Engineer may authorize partial reduction of performance security as work
progresses, upon application by Subdivider. However, no such reduction shall be for an
amount less than Ten Percent (10%) of the total performance security provided for the faithful
performance of the act or work. In no event shall security be reduced below that required to
guarantee the completion of the act or work or obligation secured, plus Ten Percent (10%).
The City Engineer shall not allow more than two partial reductions of security furnished for
any improvement agreement.
3) Participatory Improvement security shall be released upon payment by Subdivider of
Subdivider's share of the cost or estimated cost of the Participatory Improvements.
4) If City receives no notice of recorded claims of lien, labor and materials security shall be
released in full 90 days after final acceptance and/or approval by the City Council, of the
Improvements. If City receives notice of any recorded lien, the provisions of the Subdivision
Map Act shall apply.
5) Warranty security not utilized during the warranty period shall be released one year after final
acceptance or approval by the City Council of all Improvements. However, if at the end of
the one-year warranty period, there are one or more outstanding requests by City for
performance of work or provision of materials under the terms of the warranty, warranty
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security shall be retained until the outstanding requests are satisfied or until Subdivider has
made other arrangements satisfactory to the City Engineer.
4. Permits Required. Prior to commencing any phase of work, Subdivider shall obtain all permits
required for that phase of work and pay all required fees. Work performed under a permit or permits
shall comply with all provisions of the required permits.
5. Off -site Improvements. When the construction of one or more of the Improvements requires or
necessitates the acquisition of real property not owned by Subdivider or City, Subdivider shall use its
best efforts purchase such real property at a reasonable price. In the event that Subdivider is
unsuccessful, despite its best efforts, to acquire such real property at a reasonable price, Subdivider
may request in writing that City attempt to acquire such real property. City may, but is not required to,
agree to attempt to acquire such real property on behalf of Subdivider. If City so agrees, City and
Subdivider shall enter a separate written agreement in a form acceptable to the City Attorney. Said
separate agreement shall provide that Subdivider advance to City One Hundred Fifty Percent (150%)
of the appraised fair market value of the real property. Any unexpended portion of said advance shall
be refunded to Subdivider. Any additional funds required for acquisition of the real property shall be
paid by Subdivider to City upon the conveyance of said real property to Subdivider. In no event shall
the failure of Subdivider or City to acquire such real property excuse, waive, or otherwise terminate
Subdivider's obligation to construct the applicable improvement pursuant to this Agreement or the
Conditions of Approval.
6. Completion of Improvements. Subdivider shall begin construction of the Improvements within ninety
(90) days and shall complete construction within twelve (12) months after the approval of this
Agreement. On Site Street Improvements shown as Lot A on Attachment 2 (Auto Centre Way
South), shall be completed in conjunction with occupancy of any and/or all parcels abutting
Auto Centre Way South, particularly Parcel 1 of Parcel Map 28526-2. Portions of the
Improvements may be completed at a later date, as determined by the City Engineer or as set forth in
Exhibit A. Failure by Subdivider to begin or complete construction of the Improvements within the
specified time periods shall constitute cause for City, in its sole discretion and when it deems
necessary, to declare Subdivider in default of this agreement, to revise improvement security
requirements as necessary to ensure completion of the improvements, and/or to require modifications
in the standards or sequencing of the Improvements in response to changes in standards or
conditions affecting or affected by the Improvements. Said failure shall not otherwise affect the
validity of this agreement or Subdivider's obligations hereunder.
7. Force Majeure. In the event that Subdivider is unable to perform within the time limits herein due to
strikes, act of God, or other events beyond Subdivider's control, the time limits for obligations affected
by such events will be extended by the period of such events.
8. Time Extension. Subdivider may make application in writing to the City Council for an extension of
time for completion of the Improvements. The City Council, in its sole and absolute discretion, may
approve or deny the request or conditionally approve the extension with additions or revisions to the
terms and conditions of this Agreement.
As a condition of the time extension, Subdivider shall furnish securities, similar in form and substance
to those required in SECTION 3 hereinabove, to cover the period of extension. The value of the
securities shall be sufficient to ensure the performance of and payment for Improvements that remain
incomplete at the time of the extension, and to provide warranty security on completed
Improvements.
9. Survey Monuments. Before final approval of street improvements, Subdivider shall place survey
monuments in accordance with the provisions of Sections 66495, et sec. of the Subdivision Map Act
and of the La Quinta Municipal Code. Subdivider shall provide the City Engineer written proof that
the monuments have been set, evidence of payment and receipt thereof by the engineer or surveyor
setting the monuments, and intersection monument tie -outs for monuments set in public streets.
10. Final Acceptance of Improvements. At the completion of construction and prior to acceptance of the
Improvements by City, Subdivider shall submit a request for final approval by City. The request shall
be accompanied by any required certifications from Subdivider's engineers or surveyors, approval
letters from other agencies having jurisdiction over and approval authority for improvements required
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by this Agreement or the Conditions of Approval, and any required construction quality documentation
not previously submitted.
Upon receipt of said request, the City Engineer or a duly -authorized representative will review the
required documentation and will inspect the Improvements. If the Improvements are determined to
be in accordance with applicable City standards and specifications, and as provided herein,
obligations required by the Conditions of Approval and this Agreement have been satisfied, and
Subdivider has provided revised plans as required in Paragraph 11, hereinafter, the City Engineer
shall recommend acceptance of the Improvements by the City Council.
11. Revisions to Plans. When the Improvements have been inspected and approved by the City
Engineer, Subdivider shall make any necessary revisions to the original plans held by City so the
plans depict the actual Improvements constructed. When necessary revisions have been made, each
separate sheet of the plans shall be clearly marked with the words "As -Built," "As -Constructed," or
"Record Drawing," the marking shall be stamped by an engineer or surveyor, as appropriate for the
improvements thereon, who is licensed to practice in California, and the plans shall be resubmitted to
the City Engineer.
12. Improvement Warranty. Subdivider hereby guarantees the Improvements to City for a period of one
(1) year, beginning on the date of final acceptance of the Improvements by the City Council, against
any defective work or labor done, or defective materials furnished, and shall repair or replace such
defective work or materials.
13. Release of Security. City shall retain and release securities in accordance with the provisions of
Section 3 of this agreement. Prior to the release of payment security, the City Engineer may require
Subdivider to provide a title report or other evidence sufficient to show claims of lien, if any, that may
affect the amount of payment security released.
14. City Right to Cure. If Subdivider fails to perform any obligation hereunder and such obligation has not
been performed within sixty (60) days after written notice of default from City, then City may perform
the obligation, and Subdivider shall pay the entire cost of such performance by City including costs of
suit and reasonable attorney's fees incurred by City in enforcing such obligation. In cases of
emergency or compelling public interest, as determined by the City Engineer, the requirement for
written notice of default and/or the passage of sixty (60) days shall be deemed waived and all other
provisions of this Article shall remain in effect.
15. Indemnification. Subdivider hereby binds itself, its officers, employees, agents, representatives,
executors, administrators, guarantors, heirs, and assigns, and agrees to indemnify, defend and hold
City and its 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 Subdivider's performance herein under, including costs of suit and
reasonable attorneys' fees.
16. No Modification of Conditions. This Agreement shall in no respect act to modify or amend any
provision of the Conditions of Approval. In the event that any requirement or condition of this
Agreement is inconsistent with or fails to include one or more provisions of the Conditions of
Approval, which document(s) is (are) incorporated herein by reference, the provisions in the
Conditions of Approval shall remain in effect and shall control.
17. Severabilh. 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.
18. General Provisions.
A. All notices pursuant to this Agreement shall be in writing and shall be personally delivered or sent
by registered or certified mail, return receipt requested, to the parties at their respective
addresses indicated hereon. Notices personally delivered shall be effective upon delivery.
Notices mailed as provided herein and sent postage prepaid shall be effective upon the date of
delivery or refusal indicated on the return receipt. Either party may change its address for notices
hereunder by notice to the other given in the manner provided in this subparagraph.
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B. 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.
C. Neither party to this Agreement relies upon any warranty or representation not contained in this
Agreement.
D. This Agreement shall be governed by and interpreted with respect to the laws of the State of
California.
E. In the event of any dispute between the parties with respect to this Agreement, the prevailing
party shall be entitled to prompt payment of its reasonable attorneys' fees from the non -prevailing
party.
F. Any failure or delay by either party in asserting any of its rights and remedies as to any default
shall not operate as a waiver of any default or of any such rights or remedies provided for
hereunder.
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
written above.
CITY: City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
760/777-7075
Thomas P. Genovese, City Manager
ATTEST:
01,8 I.-Lo q,:q
Date
Stamko Development Co. w /� el �/
x
;AV q, f 4. V A
L=G�la
Reviewed and Approved:
A.-�
it ngine Date
App v s to F
ity Att&ney
Date
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Exhibit A
SECURITY — PARCEL MAP NO.30420
Improvements designated as "Participatory" have been or will be constructed by others. Security for
Participatory Improvements shall remain in place indefinitely until called upon or released by City.
Monumentation security shall guarantee performance of or payment for the work and shall be utilized or
released as specified in Chapter 4, Article 9 of the Subdivision Map Act.
As elements of the work are completed, Subdivider may request a maximum of two partial releases of
performance security. Partial releases shall be for not less than ten percent (10%) of the total
performance security for the Parcel and shall not reduce total performance security below the amount
necessary to complete the Improvements plus ten percent (10%) of the original amount. Partial releases
of performance security will be evaluated and may be granted, in whole or in part, by the City Engineer.
Requests for partial releases, setting forth in detail the amount of work completed and the value thereof,
shall be made in writing to the City Engineer.
Labor & materials security shall remain in place until 90 days after all required Parcel improvements are
complete and accepted by the City Council.
Improvement Description
Performance
Labor &
Materials2
Warranly
10%
Grading, On Site
0
36,895
Remaining Streets, On Site Inc. Sidewalks
150,110
0
La Quinta Drive Lot B arrant 10%
0
1,010
Drainage Improvements, including Landscaped
Retention Basin
0
41,750
Domestic Water, On Site
0
37,500
Sanitary Sewer, On Site
0
17,030
Underground Electric, On Site
0
15,000
S.R. 111 Improvements
0
24,010
Bus Stop Shelter(City of La Quinta
0
0
Perimeter Landscaping, 50ft. Set -back
0
32,025
Domestic Water within Public Right of Way
110,025
0
Sanitary Sewer within Public Right of Way
99,525
0
Landscaped Median Island
0
6,400
Monumentation
2,500
0
Construction Subtotal
362,160
211,620
Standard 10% Overall Contingency
36 220
21,160
398,380
232,780
Professional Fees Design 5%
19,920
0
Professional Fees, Construction 50/o
19,920
0
No -Plans Contingency 5%
19,920
0
Total Bond Amount
458,1401
398,380
232,780
1. Bus Stop Shelter Obligation by way of Cash to City of La Quinta in the amount of $15,000.00
2. The "Material & Labor" security amount shall provide coverage for any, and all, legally valid labor
and material claims made against the project.
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CITY of LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
Parcel Map 30420
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement") is made and entered into this
/ 7'2 day of J,....k t. , 20 n a. , by and
between Stamko Development Co., a Limited Partnership organizbd under the laws of the State of California, hereinafter
referred to as "Subdivider," and the City of La Quinta, a municipal corporation of the State of California, hereinafter
referred to as "City."
RECITALS:
A. Subdivider has prepared and filed a final map or parcel map (the "Map") of a unit of land in the City of La Quinta,
County of Riverside, which unit of land is known as Tract No. 30420 (the "Tract") pursuant to the provisions of Section
66410, et sec. of the California Government Code (the "Subdivision Map Act").
B. Prior to approval of the Map, Subdivider is required to install or agree to install certain public and private
improvements (the "Improvements").
C. The Improvements have not been installed and accepted at this time.
D. It is therefore necessary that Subdivider and City enter into an agreement for the installation of the Improvements
as provided in Section 66462 of the Subdivision Map Act.
NOW, THEREFORE, it is agreed by and between the parties hereto as follows:
1. Imorovement Plans. Prior to submittal of the Map for approval by the City Council, Subdivider shall furnish
original improvement plans meeting the requirements of the City Engineer.
2. Improvements. Subdivider shall construct the public and private street, drainage, utility, landscaping, and other
improvements required to be constructed or agreed to be constructed under this Agreement as listed in Exhibit "A", and
shall bear the full cost thereof. The methods, standards, specifications, sequence, and scheduling of construction shall
be as approved by the City Engineer.
3. Improvement Security.
A. One class of security to be provided by Subdivider, hereinafter referred to as "performance security," shall
assure the faithful performance of this Agreement including construction of the Improvements, payment of Subdivider's
fair share of Improvements which have been or will be constructed by others ("Participatory Improvements"), and payment
of plan check and permit fees. A second class of security to be provided by Subdivider, hereinafter referred to as
"payment security," shall assure the payment of the cost of labor, equipment and materials supplied to construct the
Improvements. A thins class of security to be provided by Subdivider, hereinafter referred to as "warranty security," shall
serve as a guarantee and warranty of the Improvements for a period of one year following the completion and acceptance
of the Improvements. Subdivider shall furnish performance and payment security prior to and as a condition of City
Council approval of the Map. Subdivider shall provide warranty security after Improvements are complete and accepted
by the City Council and prior to or concurrently with the final release of performance security. Warranty security shall not
be required for Monumentation or Participatory Improvements. However, the City may utilize Monumentation Security
for performance of or payment for the work in accordance with the Subdivision Map Act.
As part of the obligation secured by each of the performance security, payment security and warranty
security, and in addition to the face amount of each such security, each such security shall include and assure the
payment of costs and reasonable expenses and fees, including reasonable attorneys fees, incurred by City in
successfully enforcing the obligations thereby secured.
B. Improvement security shall conform with Section 66499 of the California Government Code and one or
more of the following:
1) A cash deposit with City or a responsible escrow agent or trust company, at City's option.
T.\PwDEP7\DevdiMgreemeMs\SIA\30420 siampd Page 1 of 6
2) Surety bonds, of the form specified in subsection 66499.2 of the California Government Code, issued
by a surety or sureties listed in the U.S. Department of Treasury Circular 570 (latest version).
3) Certificates of deposit, in City's name, from one or more financial institutions subject to regulation by
the state or federal government and having a financial quality rating of "A" or better and a commitment reliability rating
of "R-2" or better on the Investment Data Exchange (of the Los Angeles County Treasurers office).
4) Iffevocable letters of credit, issued by one or more financial institutions meeting the requirements of
Paragraph (3), pledging that the funds necessary to carry out the completion of the Improvements are on deposit,
guaranteed for payment, and constitute a trust fund which is not subject to levy or attachment by any creditor of the
depositor until released by City. Letters of credit shall guarantee that all or any portion of the funds available pursuant
to the letters of credit will be paid upon the written demand of City and that such written demand need not present
documentation of any type as a condition of payment, including proof of loss. The duration of any such letter of credit
shall be for a period of not less than one year from the execution of the agreement with which it is provided and shall
state, on its face, that the letter of credit will be automatically renewed until such time that City authorizes its expiration
or until sixty (60) days after City receives notice from the financial institution of intent to allow expiration of the letter of
credit.
5) A lien upon the subdivided property, if City finds that it would not be in the public interest to require the
installation of the Improvements sooner than two (2) years after recordation of the final map or parcel map for which the
Improvements are required. The lien shall provide a collateral value of three (3) times the estimated cost of the
Improvements and shall include the power of sale of the real property, all buildings and improvements thereon, or that
may be erected upon or made thereto, together with all hereditaments and appurtenances thereunto belonging, or in any
wise appertaining, and the reservations, remainders, rents, issues, and profits thereof. The collateral value of the property
shall be established at Subdivider's expense through an appraisal approved by City.
6) An instrument of credit from an agency of the state, federal or local government, when any agency of
the state, federal, or local government provides at least Twenty Percent (20%) of the financing for the Improvements.
7) When Subdivider is a non-profit organization, security may be negotiable bonds, of the kind approved
for securing deposits of public moneys with City or in favor of City, as specified in Section 16430 of the California
Government Code, deposited, at City's option, with City or a responsible escrow agent or trust company.
C. All securities shall be fumished in accordance with the provisions of Exhibit A. The amount of the
performance security shall equal One Hundred Percent (100%) of the estimated cost of constructing the Improvements,
including payment of plan check and permit fees, as estimated by the City Engineer or a duly authorized representative
of the City Engineer. The amount of Payment security shall equal the amount of the amount of performance security,
except as otherwise set forth in Exhibit A, and shall be furnished as a separate security. Warranty security shall equal
Ten Percent (10%) of the amount of performance security except as otherwise set forth in Exhibit A.
D. At the time of submittal of security, Subdivider shall pay to City administrative fees applicable to the form
of security provided. Administrative fees shall apply to the subdivision (final map, parcel map or waiver of parcel map)
rather than to individual security instruments. The fees shall be paid separately for each different form and/or source
(sunny or financial institution) of security initially submitted and for substitution of securities but shall not be required for
submittal of warranty security if the warranty security is of the same form and from the same source as the performance
security it replaces. Administrative fees for security shall be as follows:
1) For certificates of deposit, bonds and letters of credit as described in Paragraphs 2), 3) and 4) of
SECTION 3.6., which require the establishment of evidence of the reliability of the surety or financial institution, the
administrative fee shall be One Hundred Fifty Dollars ($150.00).
2) For liens on real property as described in Paragraph 5) of SECTION 3.6., for which City will prepare
lien agreements and subordination agreements, administer valuation of the real property and administer the agreements
over the life of the lien, all of which require legal assistance and financial advice, Subdivider shall pay to City an
administration fee of One Half of One Percent (0.5%) of the estimated cost of the improvements secured but not less than
Five Hundred Dollars ($500.00) nor more than Five Thousand Dollars ($5,000.00).
3) For other forms of security listed in Section 3 B, above, there will be no administrative fee.
T.WWDEPm\DeWivWgreemerdswS1AN30420 siampd Page 2 or 6
6. Completion of ImpaMmerrts. Subdivider shall begin construction of the Improvements within ninety (90) days
and shall complete construction within twelve (12) months after the approval of this Agreement. Portions of the
Improvements may be completed at a later date, as determined by the City Engineer or as set forth in Exhibit A. Failure
by Subdivider to begin or complete construction of the Improvements within the specified time periods shall constitute
cause for City, in its sole discretion and when it deems necessary, to declare Subdivider in default of this agreement, to
revise improvement security requirements as necessary to ensure completion of the improvements, and/or to require
modifications in the standards or sequencing of the Improvements in response to changes in standards or conditions
affecting or affected by the Improvements. Said failure shall not otherwise affect the validity of this agreement or
Subdivider's obligations hereunder.
7. Force Majeure. In the event that Subdivider is unable to perform within the time limits herein due to strikes, act
of God, or other events beyond Subdivider's control, the time limits for obligations affected by such events will be
extended by the period of such events.
8. Time Extension. Subdivider may make application in writing to the City Council for an extension of time for
completion of the Improvements. The City Council, in its sole and absolute discretion, may approve or deny the request
or conditionally approve the extension with additions or revisions to the terms and conditions of this Agreement.
As a condition of the time extension, Subdivider shall furnish securities, similar in form and substance to those
required in SECTION 3 hereinabove, to cover the period of extension. The value of the securities shall be sufficient to
ensure the performance of and payment for Improvements that remain incomplete at the time of the extension, and to
provide warranty security on completed Improvements.
9. Survey Monuments. Before final approval of street improvements, Subdivider shall place survey monuments
in accordance with the provisions of Sections 66495, et sec. of the Subdivision Map Act and of the La Quinta Municipal
Code. Subdivider shall provide the City Engineer written proof that the monuments have been set, evidence of payment
and receipt thereof by the engineer or surveyor setting the monuments, and intersection monument tie -outs for
monuments set in public streets.
10. Final Acceptance of Improvements. At the completion of construction and prior to acceptance of the
Improvements by City, Subdivider shall submit a request for final approval by City. The request shall be accompanied
by any required certifications from Subdividers engineers or surveyors, approval letters from other agencies having
jurisdiction over and approval authority for improvements required by this Agreement or the Conditions of Approval, and
any required construction quality documentation not previously submitted.
Upon receipt of said request, the City Engineer or a duly -authorized representative will review the required
documentation and will inspect the Improvements. If the Improvements are determined to be in accordance with
applicable City standards and specifications, and as provided herein, obligations required by the Conditions of Approval
and this Agreement have been satisfied, and Subdivider has provided revised plans as required in Paragraph 11,
hereinafter, the City Engineer shall recommend acceptance of the Improvements by the City Council.
11. Revisions to Plans. When the Improvements have been inspected and approved by the City Engineer,
Subdivider shall make any necessary revisions to the original plans held by City so the plans depict the actual
Improvements constructed. When necessary revisions have been made, each separate sheet of the plans shall be
clearly marked with the words "As -Built," "As -Constructed," or "Record Drawing," the marking shall be stamped by an
engineer or surveyor, as appropriate for the improvements thereon, who is licensed to practice in California, and the plans
shall be resubmitted to the City Engineer.
12. ImQrovement Warranty. Subdivider hereby guarantees the Improvements to City for a period of one (1) year,
beginning on the date of final acceptance of the Improvements by the City Council, against any defective work or labor
done, or defective materials furnished, and shall repair or replace such defective work or materials.
13. Release of Secuft. City shall retain and release securities in accordance with the provisions of Section 3 of
this agreement. Prior to the release of payment security, the City Engineer may require Subdivider to provide a title report
or other evidence sufficient to show claims of lien, if any, that may affect the amount of payment security released.
T:IPWDEPTOavdiv%AgreementsZ[A130420 siampd Page 4 of 6
14. City Right to Cure. If Subdivider fails to perform any obligation hereunder and such obligation has not been
performed within sixty (60) days after written notice of default from City, then City may perform the obligation, and
Subdivider shall pay the entire cost of such performance by City including costs of suit and reasonable attorneys fees
incurred by City in enforcing such obligation. In cases of emergency or compelling public interest, as determined by the
City Engineer, the requirement for written notice of default and/or the passage of sixty (60) days shall be deemed waived
and all other provisions of this Article shall remain in effect.
15. Indemnification. Subdivider hereby binds itself, its officers, employees, agents, representatives, executors,
administrators, guarantors, heirs, and assigns, and agrees to indemnify, defend and hold City and its 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 Subdivider's performance herein under,
including costs of suit and reasonable attomeys' fees.
16. No Modification of Conditions. This Agreement shall in no respect act to modify or amend any provision of the
Conditions of Approval. In the event that any requirement or condition of this Agreement is inconsistent with or fails to
include one or more provisions of the Conditions of Approval, which document(s) is (are) incorporated herein by
reference, the provisions in the Conditions of Approval shall remain in effect and shall control.
17. 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.
18. General Provisions
A. All notices pursuant to this Agreement shall be in writing and shall be personally delivered or sent by
registered or certified mail, return receipt requested, to the parties at their respective addresses indicated hereon. Notices
personally delivered shall be effective upon delivery. Notices mailed as provided herein and sent postage prepaid shall
be effective upon the date of delivery or refusal indicated on the return receipt. Either party may change its address for
notices hereunder by notice to the other given in the manner provided in this subparagraph.
B. 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.
C. Neither party to this Agreement relies upon any warranty or representation not contained in this Agreement.
D. This Agreement shall be governed by and interpreted with respect to the laws of the State of California.
E. In the event of any dispute between the parties with respect to this Agreement, the prevailing party shall
be entitled to prompt payment of its reasonable attorneys' fees from the non -prevailing party.
F. Any failure or delay by either party in asserting any of its rights and remedies as to any default shall not
operate as a waiver of any default or of any such rights or remedies provided for hereunder.
T:IPWDEPTOevdivlAgreementslSIA%30420 siampd Page 5 of 6
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above.
CITY: City of La Quinta
W®r
, 4 �4,- M-, w-
ATTEST:
By:
Title:
By:
Title:
SUBDIVIDER:
78-495 Calle Tampico
La Quinta, CA 92253
760f777-7075
7=/ 7 oy
Date
JI
1w-elIzwo
l
Reviewed and Approved: J Z
Ci n meer Date
6�-
91/
Approved as to Form: f/-/ I-oz 0 2
ity Attomay Dat '
T.%MVDEPTOevdiMgreements�SIAX30420 sia.wpd Page 6 of 6
Exhibit A
SECURITY -PARCEL MAP 30420
Except as otherwise provided herein, Subdivider shall furnish performance security and labor & materials security prior
to agendization of the Map for approval by the City Council.
Improvements designated as "Participatory" have been or will be constructed by others. Security for Participatory
Improvements shall remain in place indefinitely until called upon or released by City.
Monumentation security shall guarantee performance of or payment for the work and shall be utilized or released as
specified in Chapter 4, Article 9 of the Subdivision Map Act.
The "Engineering & Plans" security will be released when the City has possession of complete, approved, original plans,
signed and sealed by a design professional(s), for all required improvements. The "No -Plan Contingency", which may
be utilized for any listed item or for other cost found necessary in the design or construction of the required
improvements, may be released in whole or part by the City Engineer, at any time after construction plans are complete
and the scope and nature of improvements are fully known. These releases shall be separate from and in addition to the
reductions discussed below.
As elements of the work are completed, Subdivider may request a maximum of two partial releases of performance
security. Partial releases shall be for not less than ten percent (10%) of the total performance security for the tract and
shall not reduce total performance security below the amount necessary to complete the Improvements plus ten percent
(10%) of the original amount. Partial releases of performance security will be evaluated and may be granted, in whole
or in part, by the City Engineer. Requests for partial releases, setting forth in detail the amount of work completed and
the value thereof, shall be made in writing to the City Engineer.
Labor & materials security shall remain in place until 90 days after all required tract improvements are complete and
accepted by the City Council.
Improvement Description
Performance
Labor & Materials
Grading, On Site
368,950
368,950
Streets, On Site (Inc. Sidewalks)
251,057
251,057
Drainage Improvements, including Landscaped
Retention Basin
417,500
417,500
Domestic Water, On Site
375,000
375,000
Sanitary Sewer, On Site
170,300
170,300
Underground Electric, On Site
150,000
150,000
S. R. 111 Improvements
240,129
240,129
Perimeter Landscaping, 50ft. Set -back
320,250
320,250
Domestic Water within Public Right of Way
110,025
110,025
Sanitary Sewer within Public Right of Way
99,525
99,525
Landscaped Median Island
63,990
63,990
Monumentation
7.000
i01
Construction Subtotal:
$2,573,726
$2,566,726
Professional Fees, Design 165,200
Professional Fees, Construction 257,373
No -Plans Contingency (35% of Project) 1,048,705
Total Bond Amount: $4,045,004
T.%PWDEPTOevdivW®reements%M%30420 siampd
Page 1 of 2
Exhibit A
Security - Parcel Map 30420
The Improvements identified in this Subdivision Improvement Agreement (SIA) for Parcel Map 30420 include certain
improvements formerly required by the SIA for Parcel Map 28525-2, dated July 28, 1999.
The SIA for Parcel Map 28525-2 has been voided by City Council action and the improvements formerly required of that
SIA are now a part of this Agreement with the stipulation they will be completed by January 1, 2003, unless a time
extension is authorized by the City as provided elsewhere in this agreement.
Remainder of this page is intentionally left blank
T:M2WDEPTOevdiMoreemenffi\SIA\30420 sia.wpd
Page 2 of 2
S
HRH INSURANCE SERVICES OF SO. CALIFORNIA
77-564 Country Club Dr., Bldg. B - Suite 401
Palm Desert, CA 92211
(760) 360-4700 / (760) 360-4799 Fax
07/12/02
JUL 18 2002
City of La Quinta - Engineering Dept. PU2LK'O' W0R��S
P O Box 1504
La Quinta, CA 92253
AtLen: Victor M
Re: Stamko Development Co. Bond - Policy # BE2617127
Effective 07/11/02 to 07/11/04
Dear Victor:
Pursuant to our conversation Friday (7/12) attached is rider correcting dollar
amount working on performance bond listed above.
Sincerely,
Janet S. Pimentel, AU, CPIW
LICENSE #0684503
GULF INSURANCE COMPANY
110 West "A" Street, Ste. 1805, San Diego, CA 92101
BOND RIDER
To be attached to and form a part of :
Bond No. BE2617127 effective the I Ith day of Lily. 2002,
STAMKO DEVELOPMENT CO., A LIMITED PARTNERSHIP, as principal, and GULF
INSURANCE COMPANY, As Surety, in favor of CITY OF LA OUINTA. as Obligee.
It is understood and agreed that the WRITTEN DOLLAR AMOUNT ON SUB -DIVISION
PEFORM NCE GRADING BOND is changed or revised in the particulars as indicated below:
From:
FIVE HUNDRED THOUSAND NINETY SEVEN THOUSAND SIX HUNDRED NINETY NINE
AND NO/100
To:
FIVE HUNDRED NINETY SEVEN THOUSAND SIX HUNDRED NINETY NINE AND NO/100
Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified.
This Bond Rider shall become effective:
IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto
affixed this 12TH day of Lily 2002.
GU L INSURANCE COMPANY
Ann Willard, Attorl'ey in Fact
GULF INSURANCE COMPANY
110 West "A" Street, Ste. 1805, San Diego, CA 92101
BOND RIDER
To be attached to and form a part of :
Bond No. BE2617127 effective the 11th day of July , 2002, Stamko Development
Company, , as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City of La Ouinta.
as Obligee.
It is understood and agreed that the Principal's Name is changed or revised in the particulars as
indicated below:
From:
To:
Stamko Development Company
Stamko Development Co., a Limited Partnership
Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified.
This Bond Rider shall become effective:
IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto
affixed this l lth day of July , 2002.
GUL NSURANCE COMPANY
Ann Willar — Attorney in Fact
Bond No.: BE2617127
Initial Premium: $10,759.00
For the Term of 2 Year(s)
SUBDIVISION FAITHFUL
PERFORMANCE BOND
GRADING
KNOW ALL PEOPLE BY THESE PRESENTS:
That we, STAMKO DEVELOPMENT COMPANY, as Principal, and Gulf Insurance
Company,110 West A Street, Suite 1805, San Diego, CA 92101, as Surety, are held and
firmly bound unto CITY OF LA OUINTA as Obligee, in the sum of FIVE HUNDRED
THOUSAND NINETY SEVEN THOUSAND SIX HUNDRED NINETY NINE AND NO/10
($597,699.00) Dollars, for which payment, well and truly to be made, we bind ourselves, our
heirs, executors and successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map
of (Tract/ Parcel) Map No. TRACT #30420 entered into an agreement or agreements with said
Obligee to complete the improvements specified in said agreement or agreements.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall
well and truly perform said agreement or agreements during the original term thereof or of any
extension of said term that may be granted by the Obligee with or without notice to the Surety,
this obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the
corporate seal and the name of the said Surety is hereto affixed and attested by its duly
authorized Attorney -in -Fact on July 11, 2002,
ST ANY
By: Ittf1w!
Gulf Insurance Company
�L�By:
ANN WILLARD, ATTORNEY IN FACT
Bond No: BE2617127
Premium Included
In Performance Bond.
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
GRADING
KNOW ALL MEN BY THESE PRESENTS:
That we, STAMKO DEVELOPMENT COMPANY, as Principal, and Gulf Insurance Company,
a corporation organized and doing business under and by virtue of the laws of the State of
Connecticut and duly licensed to conduct a general surety business in the State of California as
Surety, are held and firmly bound unto CITY OF LA OUINTA as Obligee, in the sum of FIVE
HUNDRED NINETY SEVEN THOUSAND SIX HUNDRED NINETY NINE AND NO/100
($597,699.00) Dollars, for which payment, well and truly to be made, we bind ourselves, our
heirs, executors and successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are
made a part of this bond, with the Obligee for the improvements in the subdivision designated as
(Tract/ Parcel) Map No. TRACT 930420, as required is the Government Code of California.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to
make payment to any contractor, his subcontractors, or to persons renting equipment or
furnishing labor and materials to them for the improvement required by said agreement or
agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum
specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section
66499.10 of the Government Code of California as improvement security, and shall inure to the
benefit of any and all contractors, their subcontractors and persons renting equipment or
furnishing labor or materials to them for the improvement. Notice of extension of time for
completion is waived by the Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the
corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized
Attorney -in -Fact on July 11, 2002
Gulf ance Company
By:
ANN WI ARD, Attomey-in-Fact
110 West "A", Suite 1805
San Diego, CA 92101
GULF INSURANCE COMPANY
110 West "A" Street, Ste. 1805, San Diego, CA 92101
BOND RIDER
To be attached to and form a part of :
Bond No. BE2617128 effective the 11th day of July , 2002, Stamko Development
Compmy, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City of La Quinta,
as Obligee.
It is understood and agreed that the Principal's Name is changed or revised in the particulars as
indicated below:
From:
To:
Stamko Development Company
Stamko Development Co., a Limited Partnership
Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified.
This Bond Rider shall become effective:
IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto
affixed this 1 Ith day of July , 2002.
GULF SURANCE COMPANY
Ann Will — Attorney in Fact
Bond No.: BE2617128
Initial Premium: $36,353.00
For the Term of 2 Year(s)
SUBDIVISION FAITHFUL
PERFORMANCE BOND
IMPROVEMENTS
KNOW ALL PEOPLE BY THESE PRESENTS:
That we, STAMKO DEVELOPMENT COMPANY, as Principal, and Gulf Insurance
Company,110 West A Street, Suite 1805, San Diego, CA 92101, as Surety, are held and
firmly bound unto CITY OF LA Oi INTA as Obligee, in the sum of TWO MILLION
1`ITETE ,N THOUSAND FIVE HUNDRED NINETY ONE ANDNO/100 ($2,019,591.00)
Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors
and successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map
of (Tract/ Parcel) Map No. TRACT #30420 entered into an agreement or agreements with said
Obligee to complete the improvements specified in said agreement or agreements.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall
well and truly perform said agreement or agreements during the original term thereof or of any
extension of said term that may be granted by the Obligee with or without notice to the Surety,
this obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the
corporate seal and the name of the said Surety is hereto affixed and attested by its duly
authorized Attorney -in -Fact on July 11, 2002,
ST NY
By:
Gulf Ins ce Company
By:
ANN WILLARD, ATTORNEY IN FACT
Bond No: BE2617128
Premium Included
In Performance Bond.
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
IMPROVEMENTS
KNOW ALL MEN BY THESE PRESENTS:
That we, STAMKO DEVELOPMENT COMPANY, as Principal, and Gulf Insurance Company,
a corporation organized and doing business under and by virtue of the laws of the State of
Connecticut and duly licensed to conduct a general surety business in the State of California as
Surety, are held and firmly bound unto CITY OF LA OUINTA as Obligee, in the sum of TWO
MILLION NINETEEN THOUSAND FIVE HUNDRED NINETY ONE AND NO/100
($2,019,591.00) Dollars, for which payment, well and truly to be made, we bind ourselves, our
heirs, executors and successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are
made a part of this bond, with the Obligee for the improvements in the subdivision designated as
(Tract/ Parcel) Map No. TRACT #30420. as required is the Government Code of California.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to
make payment to any contractor, his subcontractors, or to persons renting equipment or
furnishing labor and materials to them for the improvement required by said agreement or
agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum
specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section
66499.10 of the Government Code of California as improvement security, and shall inure to the
benefit of any and all contractors, their subcontractors and persons renting equipment or
furnishing labor or materials to them for the improvement. Notice of extension of time for
completion is waived by the Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the
corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized
Attorney -in -Fact on July 11. 2002
Gulf Insurance Company `
Stamko velo me y 6- 1JJ Alt
By:
ANN OTLLARD, Attorney -in -Fact
110 West "A", Suite 1805
San Diego, CA 92101
GULF INSURANCE COMPANY
110 West "A" Street, Ste. 1805, San Diego, CA 92101
BOND RIDER
To be attached to and form a part of :
Bond No. BE2617129 effective the l 1th day of July , 2002, Stamko Development
z n , as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City of La Ouinta.
as Obligee.
It is understood and agreed that the Principal's Name is changed or revised in the particulars as
indicated below:
From:
To:
Stamko Development Company
Stamko Development Co., a Limited Partnership
Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified.
This Bond Rider shall become effective:
IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto
affixed this 1 lth day of July , 2002.
GULF NSURANCE COMPANY
Ann it —Attorney in Fact
Bond No: BE2617129
Premium Included
In Performance Bond.
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
UTILITIES
KNOW ALL MEN BY THESE PRESENTS:
That we, ST MKO DEVELOPMENT COMPANY, as Principal, and Gulf Insurance Company,
a corporation organized and doing business under and by virtue of the laws of the State of
Connecticut and duly licensed to conduct a general surety business in the State of California as
Surety, are held and firmly bound unto CITY OF LA OUINTA as Obligee, in the sum of ONE
MILLION FOUR HUNDRED SEVENTEEN THOUSAND THREE HUNDRED NINETEEN
AND NO/100 ($1,417,319.00) Dollars, for which payment, well and truly to be made, we bind
ourselves, our heirs, executors and successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are
made a part of this bond, with the Obligee for the improvements in the subdivision designated as
(Tract/ Parcel) Map No. TRACT #30420. as required is the Government Code of California.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to
make payment to any contractor, his subcontractors, or to persons renting equipment or
furnishing labor and materials to them for the improvement required by said agreement or
agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum
specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section
66499.10 of the Government Code of California as improvement security, and shall inure to the
benefit of any and all contractors, their subcontractors and persons renting equipment or
furnishing labor or materials to them for the improvement. Notice of extension of time for
completion is waived by the Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the
corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized
Attorney -in -Fact on July 11, 2002
Gulf/ nnurance Company A
By:/ ( I _ I/ I t A n_ Il
ANN WILLARD, Attorney -in -Fact
110 West "A", Suite 1805
San Diego, CA 92101
Bond No.: BE2617129
Initial Premium: $25,512.00
For the Term of 2 Year(s)
SUBDIVISION FAITHFUL
PERFORMANCE BOND
UTILITIES
KNOW ALL PEOPLE BY THESE PRESENTS:
That we, STAMKO DEVELOPMENT COMPANY, as Principal, and Gulf Insurance Company,
110 West A Street, Suite 1805, San Diego, CA 92101, as Surety, are held and firmly bound unto
CITY OF LA QUINTA as Obligee, in the sum of ONE MILLION FOUR HUNDRED
SEVENTEEN THOUSAND THREE HUNDRED NINETEEN & NO /100 ($ 1,417,319.00)
Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map of
(Tract/ Parcel) Map No. TRACT #30420 entered into an agreement or agreements with said
Obligee to complete the improvements specified in said agreement or agreements.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well
and truly perform said agreement or agreements during the original term thereof or of any
extension of said term that may be granted by the Obligee with or without notice to the Surety, this
obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the
corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized
Attorney -in -Fact on July 11, 2002,
ST
By:
Gulf Insivance Comp y
( wtu'" ')
By:
ANN WILLARD, ATTORNEY IN FACT
GULF INSURANCE COMPANY
110 West "A" Street, Ste. 1805, San Diego, CA 92101
BOND RIDER
To be attached to and form a part of :
Bond No. BE2617130 effective the l 1th day of Jules, 2002, Stamko Development
Compoy, as principal, and GULF INSURANCE COMPANY, As Surety, in favor of City of La Ouinta,
as Obligee.
It is understood and agreed that the Principal's Name is changed or revised in the particulars as
indicated below:
From:
To:
Stamko Development Company
Stamko Development Co., a Limited Partnership
Said Bond shall be subject to all terms, conditions, and limitations, except as herein expressly modified.
This Bond Rider shall become effective:
IN WITNESS WHEREOF, GULF INSURANCE COMPANY has caused its corporate seal to be hereunto
affixed this l 1th day of July , 2002.
GU INSURANCE COMPANY
Ann i and — Attorney in Fact
Bond No.: BE2617130
Initial Premium: $187.00
For the Term of 2 Year(s)
SUBDIVISION FAITHFUL
PERFORMANCE BOND
MONUMENTATION
KNOW ALL PEOPLE BY THESE PRESENTS:
That we, STAMKO DEVELOPMENT COMPANY, as Principal, and Gulf Insurance Company,
110 West A Street, Suite 1805, San Diego, CA 92101, as Surety, are held and firmly bound unto
CITY OF LA OUINTA as Obligee, in the sum of TEN THOUSAND THREE HUNDRED
NINETY FIVE & NO /100 ($ 10,395.00) Dollars, for which payment, well and truly to be made,
we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these
presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map of
(Tract/ Parcel) Map No. TRACT #30420 entered into an agreement or agreements with said
Obligee to complete the improvements specified in said agreement or agreements.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well
and truly perform said agreement or agreements during the original term thereof or of any
extension of said term that may be granted by the Obligee with or without notice to the Surety, this
obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the
corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized
Attorney -in -Fact on July 11, 2002,
ST NY
By:
Gulf In ce Company
By:
ANN WILLARD, ATTORNEY IN FACT
Bond No: BE2617130
Premium Included
In Performance Bond.
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
MONUMENTATION
KNOW ALL MEN BY THESE PRESENTS:
That we, ST MKO DEVELOPMENT COMPANY, as Principal, and Gulf Insurance Company,
a corporation organized and doing business under and by virtue of the laws of the State of
Connecticut and duly licensed to conduct a general surety business in the State of California as
Surety, are held and firmly bound unto CITY OF LA OLTT_NTA as Obligee, in the sum of TEN
THOUSAND THREE HUNDRED NINETY FIVE AND NO1100 ($10,395.00) Dollars, for
which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are
made a part of this bond, with the Obligee for the improvements in the subdivision designated as
(Tract/ Parcel) Map No. TRACT #30420, as required is the Government Code of California.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to
make payment to any contractor, his subcontractors, or to persons renting equipment or
furnishing labor and materials to them for the improvement required by said agreement or
agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum
specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section
66499.10 of the Government Code of California as improvement security, and shall inure to the
benefit of any and all contractors, their subcontractors and persons renting equipment or
furnishing labor or materials to them for the improvement. Notice of extension of time for
completion is waived by the Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the
corporate seal and the name of the said Surety is hereto affixed and attested by its duly authorized
Attorney -in -Fact on July 11, 2002
L
Gul s ance Company
ANN WILLARD, Attorney -in -Fact
110 West "A", Suite 1805
San Diego, CA 92101
F�
WAL-MART REALTY CO.
BOND INFORMATION FORM
Date: January 14, 2004
Store # 1805-03 Store City and State: La Quinta, California
Store type (Wal-Mart, Supercenter, Sams, DC): Supercenter
Project type (New, Exp, Relo, T/0):
New
Operating Entity (WM Stores, IncJSam's East, IncJetc.): Wal-Mart Real Estate Business Trust
Beneficiary: City of La Quinta (Name)
78495 Calle Tampico (Street Address)
P.O. Box 1504
(Mailing Address -If Different)
La Quinta, California, 92253 (City, State, Zip)
Contact where Bond will reside: Jerry Herman, Community Development Director
Phone No. 760-777-7125 Fax No.
e-mail: jhermanda la-quinta.org
Contact for negotiation or clarification (if different):
Phone No.
e-mail:
Bond Amount: $ 25,000
Fax No.
760-777-1233
same as above
Type of Bond:
a. X Performance
**Is security required for Maintenance Period after completion: X Yes —No
**If "Yes", how long: 5 Years
b. _ Payment
C. _ Maintenance How long:
d. Cash
Does Beneficiary have required Bond Format: X Yes —No
**If "Yes", please forward the required Bond Format along with the other required information
Bond is to guarantee: Landscape maintenance for the entire Planning Area III, Building B,
Tract Map No 30420 C of A #67.A of site development permit 2002-728.
Estimated Completion Date: February 15, 2004
Plans (for work covered by Bond) prepared by: HSA Design Group
Project Manager: Chuck Shepardson
Phone No. 760-341-1515 Fax No. 760-773-9315
e-mail: cshepardson@hsadesigugroup.com
Date of Approved Plans: August 9, 2002
The following information is reauired in order to issue the Bond:1) Current cost estimate that equals the
amount of the bond as stated above,• 2) Copy of the Agreement. Ordinance Correspondence, etc. from the
Beneficiary requiring the Bond,• and if available 3) List of the Beneficiary's reguirments for reduction and/or
cancellation of the Bond. **THE BOND WILL NOT BE ISSUED WITHOUT THIS INFORMATION**
Wal-Mart Realty Co. use:
Director's Approval Date
Authorizing By -Laws and Resolutions
ADOPTED BY THE BOARD OF DIRECTORS OF CONTINENTAL CASUALTY COMPANY:
This Power of Attorney is made and executed pursuant to and by authority of the following By -Law duly adopted by the Board of
Directors of the Company.
"Article IX —Execution of Documents
Section 3. Appointment of Attorney -in -fact. The Chairman of the Board of Directors, the President or any Executive, Senior or
Group Vice President may, from time to time, appoint by written certificates attorneys -in -fact to act in behalf of the Company in the
execution of policies of insurance, bonds, undertakings and other obligatory instruments of like nature. Such attorneys -in -fact, subject to
the limitations set forth in their respective certificates of authority, shall have full power to bind the Company by their signature and
execution of any such instruments and to attach the seal of the Company thereto. The Chairman of the Board of Directors, the
President or any Executive, Senior or Group Vice President or the Board of Directors, may, at any time, revoke all power and authority
previously given to any attorney -in -fact "
This Power of Attorney is signed and sealed by facsimile under and by the authority of the following Resolution adopted by the Board of
Directors of the Company at a meeting duly called and held on the 17th day of February, 1993.
"Resolved, that the signature of the President or any Executive, Senior or Group Vice President and the seal of the Company may
be affixed by facsimile on any power of attorney granted pursuant to Section 3 of Article IX of the By -Laws, and the signature of the
Secretary or an Assistant Secretary and the seal of the Company may be affixed by facsimile to any certificate of any such power and
any power or certificate bearing such facsimile signature and seal shall be valid and binding on the Company. Any such power so
executed and sealed and certified by certificate so executed and sealed shall, with respect to any bond or undertaking to which it is
attached, continue to be valid and binding on the Company."
ADOPTED BY THE BOARD OF DIRECTORS OF AMERICAN CASUALTY COMPANY OF READING, PENNSYLVANIA:
This Power of Attorney is made and executed pursuant to and by authority of the following By -Law duly adopted by the Board of
Directors of the Company.
"Article Vl--Execution of Obligations and Appointment of Attorney -in -Fact
Section 2. Appointment of Attorney -in -fact. The Chairman of the Board of Directors, the President or any Executive, Senior or
Group Vice President may, from time to time, appoint by written certificates attorneys -in -fact to act in behalf of the Company in the
execution of policies of insurance, bonds, undertakings and other obligatory instruments of like nature. Such attorneys -in -fact, subject to
the limitations set forth in their respective certificates of authority, shall have full power to bind the Company by their signature and
execution of any such instruments and to attach the seal of the Company thereto. The President or any Executive, Senior or Group Vice
President may at any time revoke all power and authority previously given to any attorney -in -fact."
This Power of Attorney is signed and sealed by facsimile under and by the authority of the following Resolution adopted by the Board of
Directors of the Company at a meeting duly called and held on the 17th day of February, 1993.
"Resolved, that the signature of the President or any Executive, Senior or Group Vice President and the seal of the Company may
be affixed by facsimile on any power of attorney granted pursuant to Section 2 of Article VI of the By -Laws, and the signature of the
Secretary or an Assistant Secretary and the seal of the Company may be affixed by facsimile to any certificate of any such power and
any power or certificate bearing such facsimile signature and seal shall be valid and binding on the Company. Any such power so
executed and sealed and certified by certificate so executed and sealed shall, with respect to any bond or undertaking to which it is
attached, continue to be valid and binding on the Company."
ADOPTED BY THE BOARD OF DIRECTORS OF NATIONAL FIRE INSURANCE COMPANY OF HARTFORD:
This Power of Attorney is made and executed pursuant to and by authority of the following Resolution duly adopted on February 17,
1993 by the Board of Directors of the Company.
"RESOLVED: That the President, an Executive Vice President, or any Senior or Group Vice President of the Corporation may, from
time to time, appoint, by written certificates, Attorneys -in -Fact to act in behalf of the Corporation in the execution of policies of insurance,
bonds, undertakings and other obligatory instruments of like nature. Such Attomey-in-Fact, subject to the limitations set forth in their
respective certificates of authority, shall have full power to bind the Corporation by their signature and execution of any such instrument
and to attach the seal of the Corporation thereto. The President, an Executive Vice President, any Senior or Group Vice President or
the Board of Directors may at any time revoke all power and authority previously given to any Attomey-in-Fact."
This Power of Attorney is signed and sealed by facsimile under and by the authority of the following Resolution adopted by the Board of
Directors of the Company at a meeting duly called and held on the 17th day of February, 1993.
"RESOLVED: That the signature of the President, an Executive Vice President or any Senior or Group Vice President and the seal
of the Corporation may be affixed by facsimile on any power of attorney granted pursuant to the Resolution adopted by this Board of
Directors on February 17, 1993 and the signature of a Secretary or an Assistant Secretary and the seal of the Corporation may be
affixed by facsimile to any certificate of any such power, and any power or certificate bearing such facsimile signature and seal shall be
valid and binding on the Corporation. Any such power so executed and sealed and certified by certificatezo executed and sealed, shall
with respect to any bond or undertaking to which it is attached, continue to be valid and binding on the Corporation."
NOTICE
In accordance with the Terrorism Risk Insurance Act of 2002, we are providing this disclosure
notice for bonds and certain insurance policies on which one or more of the Writing Companies
identified below is the surety or insurer.
To principals on bonds and insureds on certain insurance policies written by any one or more of
the following companies (collectively the "Writing Companies') as surety or insurer: Western
Surety Company, Universal Surety of America, Surety Bonding Company of America,
Continental Casualty Company, National Fire Insurance Company of Hartford, American
Casualty Company of Reading, PA, The Firemen's Insurance Company of Newark, NJ, and The
Continental Insurance Company. '
DISCLOSURE OF PREMIUM
The premium attributable to coverage for terrorist acts certified under the Act was Zero Dollars
($0.00).
DISCLOSURE OF FEDERAL PARTICIPATION IN PAYMENT OF TERRORISM
LOSSES
The United States will pay ninety percent (90%) of covered terrorism losses exceeding the
applicable surety/insurer deductible.
Forth F7310
EXHIBIT A
CONDITION OF APPROVAL
67. The applicant shall make provisions for continuous, perpetual
maintenance of all private on -site improvements, perimeter and interior landscaping,
access drives, and sidewalks.
A. For the Retail Building "B" site, a $25,000 bond or letter of credit in a form
acceptable to the City Attorney, shall be posted prior to the issuance of the Certificate of
Occupancy for the Retail Building "B". The bond or letter of credit shall initially remain in
effect for a period of five years. During that period, if the City determines that the
landscaping is not being properly maintained, it shall provide notice, at the addresses to
be provided by the applicant or owner, of the need to correct the specific deficiencies. If
the deficiencies in the landscaping are not corrected within 30 days of the mailing of the
notice, the City shall have the right to call the bond or letter of credit, and the proceeds
shall be utilized to the extent needed to correct the landscaping deficiencies. If, after
five years, the landscaping has been properly maintained, the City shall release the
bond. or letter of credit. If, in the determination of the Community Development Director,
the landscaping has not been properly maintained, the bond or letter of credit shall be
renewed and maintained for an additional five year period.
B, For the entire Planning Area III, the landscaping and irrigation system
shall be well maintained and any dead plant material shall be promptly replaced. If the
landscaping is not properly maintained, and if the condition is not cured within 30 days
of the notice of the deficiencies, the City shall have the right to cause the correction of
the deficiencies in the landscaping, and the applicant/owner agrees that the costs of the
correction shall be recorded as a lien against the property. Prior to exercising the right
to lien, the City shall provide an additional 15-day notice and hold a hearing before the
Community Development Director to determine the existence of the deficiencies and the
scope of the work needed to correct the deficiencies. The determination of the
Community Development Director shall be subject to appeal in accordance with the
City's Municipal Code. This remedy shall be in addition to any other remedies the City
has by law.
2156/015610-0002
464935.02 a01/07/04