31798 CRV Watermark VillasCITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
TRACT MAP NO. 31798
ON -SITE IMPROVEMENTS
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement") is made and entered into this
^? r �GYP
day of rL r•� 20
by and between WATERMARK GRANITE LA QUINTA, LLC a CALIFORNIA LIMITED
LIABILITY COMPANY 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 Tract 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. 31798 (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. 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 lusted 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 TRACT 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, Tract
map or waiver of Tract 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 warranty
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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.B., 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.B., 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 shale 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. 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 Maieure. 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
by this Agreement or the Conditions of Approval, and any required construction quality documentation
not previously submitted.
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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. 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.
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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.
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
rf.
760/777-7075
Thomas P. Genovese, City Manager Date
ATTEST:
Local Address
Watermark Granite La Quinta, LLC
20 Park Plaza, St 800
Irvine, CBS 614
(760) i� .
y:--;--;
D ry
Date
Title: ��...
Date
Title:
Reviewed and Approved-
City'Ei4gineer Date
Approved as to Form;,
City Attorney Date
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STATE OF CALIFORNIA }
COUNTY OF SAN DIEGO }
On December 12, 2005 before me, Marianne Allen, Notary Public,
Personally appeared Thomas P. Dobron --------------------------------
personally known to me to be the person whose name is subscribed to the within
instrument and acknowledged to me that he executed the same in his authorized
capacity, and that by his signature on the instrument the person, or the entity upon
behalf of which the person acted, executed the instrument.
WITNESS my hand and official seal.
MARIANNE ALLEN
Commission # 1462983
Notary Public - Cdifomio
San Diego County
My Comm. Expires Feb 11, 2008
Signature ���' � � � ��� �� ��� % c' �,� y � .
(NOTARY
SEAL)
Exhibit A
SECURITY — TRACT MAP NO. 31798
ON -SITE IMPROVEMENTS
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 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
$
10,820
$
108,200
Street Improvements,
$
416,685
$
416,685
Signing and Striping
$
8,000
$
8,000
Storm Drainage
$
792,216
$
792,216
Sanitary Sewer
$
212,373
$
212,373
Domestic Water
$
697,135
$
697,135
Dry Utilities
$
500,000
$
500,000
Contingency for Monumentation
$
40,582
$
-
Totals
$
2,677,811
$
2,734,609
Standard 10% Contingency
$
267,781
$
273,461
Total Construction Cost
$
2,945,592
$
3,008,070
Professional Fees, Design 10%
$
294,559
$
300,807
Professional Fees, Const 10%
$
294,559
$
300,807
Bond Amount
$
3,534,710
$
3,609,684
Improvement Description
Performance
Labor
& Materials
Monumentation
$
167,400
Bond Amount
$
1671400
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CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
TRACT MAP NO. 31798
OFF -SITE IMPROVEMENTS
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement") ismadeand entered into this
_el- f � day of �� '�'�-- , 20
by and between WATERMARK GRANITE LA QUINTA, LLC, a California Limited Liability
Company, 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 Tract 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. 31798 (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, Subdivideris 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 b costbofvider, hereinafter labor, equipmentrandred to as
materials
"payment security," shall assure the payment of the
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 Tract 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, Tract
map or waiver of Tract 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 warranty
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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.B., 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
approvall, 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 Tract 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. 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 Maieure. 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
by this Agreement or the Conditions of Approval, and any required construction quality documentation
not previously submitted.
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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. 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.
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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.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
written above.
City of La Quinta
78-495 Calle Tampico
La Quinta A 92253
075
Xq
Thomas P. Genovese, City Manager Date
ATTEST:
City Clerk
Developer Address
Watermark Granite La Quinta, LLC
20 Park Plaza, St 800
Irvine, CA 92614
By:
~— Date
Title:
By:
Date
Title:
Reviewed anA Approved:
City Engine- Date
Approved as to Forma:
City Attorney ` Date
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STATE OF CALIFORNIA }
COUNTY OF SAN DIEGO }
On December 12, 2005 before me, Marianne Allen, Notary Public,
Personally appeared Thomas P. Dobron --------------------------------
personally known to me to be the person whose name is subscribed to the within
instrument and acknowledged to me that he executed the same in his authorized
capacity, and that by his signature on the instrument the person, or the entity upon
behalf of which the person acted, executed the instrument.
WITNESS my hand and official seal.
MAMANNE ALLEN
_ Commission #� 1462983
9-3 1 Notary Public - California_
San Diego County
My Comm. Expires Feb 11, 2008
Signature _� �-� 4- -,4
(NOTARY
SEAL)
Exhibit A
OFF -SITE SECURITY — TRACT MAP NO. 31798
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 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
$
3,575
$
3,575
Storm Drainage
$
27,405
$
27,405
Street Improvements
$
67, 785
$
67,785
Meandering 8ft Sidewalk
$
17,915
$
17,915
Domestic Water
$
52,640
$
52,640
Sanitary Sewer
$
3,000
$
3,000
Signing and Striping
$
172,320
$
172,320
Totals
$
17 232
$
17,232
Standard 10% Contingency
$
189,552
$
189,552
Total Construction Cost
Professional Fees, Design 10%
$
18,955
$
18,955
18,955
Professional Fees, Const 10%
$
18,955
$
$
227,462
$
227,462
Bond Amount
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TAProject Development Division\Development Projects\Agreements\SIA\SIAs in Progress\Watermark TM 31798\OFFSITE_SIA.doc
OUTSTANDING BOND REPORT
Name: CRV Watermark Granite La Quinta, LLC (Watermark Villas)
Tract No. 31798
Date of Contract: December 12, 2005
Required Bond Amounts:
PM10
$ 31,500
Rough
$129,800
On -site
Grading
$ 10,820 / $ 10,820
Streets
$416,685 / $416,685
Signing & Striping
$ 8,000 / $ 8,000
Storm Drainage
$792,216 / $792,216
Sewer
$212,373 / $212,373
Water
$697,135 / $697,135
Utilities
$ 500,000 / $ 500,000
Monumentaion
$ 40,582
Standard 10% cont.
$267,781 / $273,461
Prof. Fees Design
$294,559 / $300,807
Prof. Fees Const.
$294,559 / $300,807
Monumentation
$167,400
Off -site
Storm Drainage
$ 3,575 / $ 3,575
Streets
$ 27,405 / $ 27,405
Sidewalk
$ 67,785 / $ 67,785
Water
$ 17,915 / $ 17,915
Sewer
$ 52,640 / $ 52,640
Signing & Striping
$ 3,000 / $ 3,000
Standard 10% Cont.
$ 17,232 / $ 17,232
Prof. Fees Design
$ 18,955 / $ 18,955
Prof. Fees Const.
$ 18,955 / $ 18,955
Dates of Bond Reductions:
Outstanding Bonds and Bond Company:
Amniint: Bond No.
$ 31,500 (P) SU5015492
$129,800 (P) SU5015491
$167,400 (P) SU5018208
$3,534,710 (P) SU5018206
$3,609,684 (L&M) same
$ 227,482 (P) SU5018207
$ 227,482 (L&M) same
Arch Insurance Company
Date Cancelled/Released:
Bond No. SU5015492
FAITHFUL PERFORMANCE BOND
(LQMC 6.16)
Fugitive Dust Control Bond
.WHEREAS, the City of La Quinta, California, is prepared to authorize A�P
)h du i - u- as Principal, to proceed with certain construction activities
pursuant to one, or more permits issued by the City, for various infrastructure improvements and/or
structures on, or associated with, privately -owned property generally known to the City and others as
Watermark Villas 3 1 —; t u. ;and
WHEREAS, all such construction and demolition activities must be performed in such
manner as to conform with La Quinta Municipal Code, Chaper 6.16, entitled Fugitive Dust Control to
reduce fugitive dust and corresponding PM10 emissions; and
WHEREAS, said Principal is required by LQMC 6.16.050(A)(4) to ensure that Fugitive
Dust Control Plan #` > 'CL, prepared specifically for the subject construction site, is financially
secure by furnishing security for the faithful performance of the dust control activitities required in the
Fugitive Dust Mitigation Plan.
NOW, therefore, we the Principal and Arch Insurance Company
as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal
sum of Thirty One Thousand Five Hundred and N0/100
Dollars ($ 31,500.00 ) lawful money of the United States, for the payment of which sum well and truly
to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally,
firmly by these presents.
The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors,
administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep
and perform the covenants, conditions and provisions in the said dust control plan and any alteration
thereof made as therein provided, on his or their part, to be kept and performed at the time and in the
manner therein specified, and in all respects according to their true intent and meaning, and shall
indemnify and save harmless the Obligee, its officers, agents and employees, as therein stipulated, then
this obligation shall become null and void; otherwise, it shall be and remain in full force and effect.
As a part of the obligaton secured hereby and in addition to the face amount specified therefor, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred
by the Obligee in successfully enforcing such obligation, all to be taxed as costs and included in any
judgement rendered.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the
terms of the dust control plan or to the work to be performed thereunder or the specifications
accompanying the same shall in anywise affect its obligations on this bond, and it does hereby waive
notice of any such change, extension of time, alteration or addition to the terms of the dust control plan or
to the work, the specifications, or the conditions of approval of said plan.
Page 1 of 2
F211
Bond No. SU5015491
FAITHFUL PERFORMANCE BOND
(LQMC 8.02.01 & CBC 3311)
Grading Bond
WHEREAS, the City of La Quinta, California, is prepared to issue Encroachment Permit
# in accordance" with the La Quinta Municipal Code, and,the California Building Code which is
adopted by reference, to 06 i'/fL-� L_ , as Principal,
whereby Principal will be authorized to perform certain grading improvements identified in the permit, and
as further detailed on the grading plans referenced therein, to privately -owned property generally known
to the City and others as and
WHEREAS, Said Principal is required under the terms of the permit to furnish a bond for
the faithful performance of the grading work in accordance with the approved plans, specifications, and
permit requirements; or, if the work is abandoned (not completed as required), Principal shall correct or
eliminate any hazardous conditions that may exist.
NOW, therefore, we the Principal and Arch Insurance Company
as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal
sum of One Hundred Twenty Nine Thousand Eight Hundred Dollars and N0/100
Dollars ($ i1 �j,c t' c ,) lawful money of the United States, for the payment of which sum well and truly to
be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally,
firmly by these presents.
The condition of this obligation is such that if the above bonded Principal, his or its heirs, executors,
administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep
and perform the covenants, conditions and provisions in the said permit and any alteration thereof made
as therein provided, on his or their part, to be kept and performed at the time and in the manner therein
specified, and in all respects according to their true intent and meaning, and shall indemnify and save
harmless the Obligee, its officers, agents and employees, as therein stipulated, then this obligation shall
become null and void; otherwise, it shall be and remain in full force and effect.
As a part of the obligaton secured hereby and in addition to the face amount specified therefor, there
shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred
by the Obligee in successfully enforcing such obligation, all to be taxed as costs and included in any
judgement rendered.
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the
terms of the permit or to the work to be performed thereunder or the specifications accompanying the
same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such
change, extension of time, alteration or addition to the terms of the permit or to the work or to the
specifications.
Page 1 of 2
F210
� - ARCH INSURANCE COMPANY
FIRST TERM PREMIUM FULL Y EARNED
Bond Number: SU 5018208
Premium (Two Years) : $2,511.00
SUBDIVISION BOND
MONUMENT BOND
KNOW ALL MEN BY THESE PRESENTS: That, CRV Watermark Granite La Quinta, LLC, as Principal,
and the ARCH INSURANCE COMPANY, a corporation organized and existing under the laws of the State of
MISSOURI and authorized to transact surety business in the State of California as Surety, are held and firmly
bound unto City of La Quinta, as Obligee, in the sum of One Hundred Sixty-seven Thousand Four
Hundred and NO/100 DOLLARS ($167,400.00), for which the payment whereof, well and truly to be made,
said Principal and Surety bind themselves, their heirs, administrators, successors, and assigns, jointly and
severally, firmly by these presents.
THE Condition of the foregoing obligation is such that, whereas the above bounden Principal has entered into a
contract/agreement, dated 01/16/06, with the Obligee to do and perform the following work; to wit:
Tract Map #31798
NOW, THEREFORE, if the above bounden Principal shall well and truly perform the work contracted to be
performed under said contract, then this obligation shall be void; otherwise to remain in full force and effect.
SIGNED. SEALED, DA'rrED: 01i16/06
CR atermark Granite La Quinta, LLC
--�`` (Principal)
t3�
By:
r
Arch insurance Compam
(Surei-0
Barry D. Nord: from, Attorney ! n Fact
DIRECT CORRESPONDENCE TO:
ARCH INSURANCE COMPANY, 135 N. LOS ROBLES AVE., PASADENA, CA 91101
PHONE (626) 535-0855 • FAX (626) 535-0875
Subdivision PcrlOrmancc Bond.dot
FIRST TERM PREMIUM FULLY EARNED
BOND NUMBER: SU5018206
PREMIUM: 53,021.00
FIRST TERM TWO (2) YEARS
suson ISfON IMPROVEMENTS
Parcel Map No. 31798
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT, the City Council of the City of I..a Qutnta has approved the final map for Panel Map
No. 31798 prior to installation of W"n dssignaW public ln`*W0Vemems required by the
Conditions of
for the subject map, in accordance with the California Map Act (Govvmment Coda
section 66462 )
WHEREAS, the City Council of the City of La Quints. State of California, and
CRV Watermark Granite La Qunota, LI hereinafter designated as ("Principal')
have entered into an agreemartR whMeby prin Dull raw t0 install and� certain "gnated public
improvements, which said agreement, dated 200 6, and Ide
s
iffied Parcel Map No. 31798 P is hereby referred to and made a part hereof; and
WHEREAS. said principal is requited under the farms of said agreement to furnish a bond for the
faithful performance of said agreement.
NOW, THEREFORE, we, the prkK#01 and Arch Insurance
as surety, are held and firmly bound unto the City of Ea aria hereinafter called ), In than penal sum
of ** DOLLARS ($ 3, 534 710.00 } lanivftai
money of the United Stakes, for the payment whZ sum weft and truly to be meads, we bind ourseMes, our
heirs successors, executors and administrators, jointly 8nd severally, firmly by these presents.
** Three Million Five Hundred Thirty-four Thousand Seven Hu Bred T n anS , executors,
The c�nditlon of this obligation is such that If the WxNe�otxtdede prim
administrators, suczessors or assigns; site% In sit things stand to and abide by, and well and fluty keep and
perform the covenants, conditions and prov $Wg in the said agreement and any aftemlion dwreof made as
therein provided, on his or their part, to be kept and performed at the time and In the manner therein
to their true intsM and meaning, and shall Indemnify and save
specified, seed in all respects a000rdirtg � mein stipulated, then this obligation shah become
harmless the CRY, its WOW, aged and Wks•
nun and void; otherwise it shall be and remain in 10111 force artd erect
As as pert of are oblklation seatred hereby and In addition to the face amount spedlled therefor, there
shall be Indudad coals and reasonable expenses and Ides, including reasonable a ttorney's tea% incurred
by City in successfully enforcing such obligation. SM to be taxed as costs and im*xled in any judgment
rendered.
Pa" I or 2
n01 Gom
BOND NUMBER. S15018206
SUBDIVISION IMPROVEMENTS
Parcel Map No. 31798
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT, the City Council of the City of La Ouinta has approved the final map for Parcel Map
No. 31798 , prior to tmst lmtion of certain desigruded public improvements required by the
Condttlons of Approval for the subject map, in accordance with the Caldbmia Map Act (Government Code
Section 66462)
WHEREAS, the City Council of the City of La Gulnta, Stale of California, and
CRV Watermark Grainite La Quinta, LLC hereineftr designated as "the prindpatl" have
entered Inagreement wheroby the principal agrees to Install and complete certain designated public
Into an
improvements, which agreement, dated 01�/16�, 200�6-► lieed and ldenttas Parcel Map
No. 31798 , Is hereby referred to and mesa a part hereof, and
WHEREAS, under the temps of the agreement, dw prindpal is required before entering upon the
performance of the work, to tine ,a good and srufficient payment bond with the City of La Quints to secure the
claims to which reference Is made In Title 15 (conunoncirng wish Section 3082) of Part 4 of Division 3 of the
Civil Code of the Stet* of California.
Note, THEREFORE. the principal and the understyned as oorporste surety, are held firmly bound
unto the City of La Quints and al contractors, subcontreaton, laborers, matieriaky en, and other persons
employed in the performance of the agr=nWd and rn fetid to in Title 15 (commencing with Section 3082)
of Part 4 of Division 3 of the Cava Code in the sum Of ***
DOLLARS (S 3,609,684.00 �, fbr meter a ar tabor arson arty . orfor
amounts due under the Unemployment Insurance Act with respect 10 this work or labor, that the surety wiN
pay the same In an amount not exceeding the amount b ereinabove set forth, and also in case salt la brought
upon this bond, will pity, in addition to the tmrx amount thereof, ousts and reasonable expenses and fives,
including reasonable attorney s flees, Incurred by city to sucaesstunY enfamng tt" obNatto % to be awarded
and fixed by the court, and to be taxed as costs and to be Included In the )ud nont therein rendered.
***Three Million Six Hundred Nine Thousand Six Hundred Ei tt-f ur a NO/10p ollar
It is hereby expressly Stipulated send agreed that th °�"�' sha� inure b the neat of arty and all
persons, companies, and oorporatione enllded to fie chins under Title 15 (cormmendng with Section 3082)
of Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their as:(ena In any suit
brought upon this bond.
Should the condition of this bond be fully performed, then this obligation shell beco m null and void,
otherwise it ahaN be and remain In full kxV8 and a feCL
F202 - Labor end Mahwild eland . P"p1 or 2
FIRST TERM PREMIUM FULLY EARNED
BOND NUMBER: SU5018207
PREMIUM: $3,412.00
FIRST TERM TWO (2) YEARS
SUBDIVISION IMPROVEMENTS
Parcel ,Map No. 31798
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT, the City Council of the City of La QU111 a has approved the final m$p for Parcel Map
No. 31798 , prior to installation of certain designated public improvements required by the
Conditions approval for the subject map, in accordance with the CaiijbMie Map Act (Cm ovement Code
Section 66462)
rMRt_AS, the CRYranite La Quints, LLC Council of the City of Le 44inta, Stake of California,
Watermark hereinafter designated as ("principal")
CRV certain designated public
have entered into an agreement whereby prinapaI agr ba install and complete Ig
improvements, which sold agreement, dafd 01 /16 2006, and identified as
Parcel Map No. 31798 , is hereby refs reo to and made a part hereof: and
WHEREAS, said prindpat is required under the terms of said agreefr>nt to furnish a bond for the
faithful performance of said agreement.
we, the principal
NOW, THEREFORE, end Arch Insurance Compan
hereinafter in the penal sum
as surety, are held and firmly bound unto the City of a rrtia DOLLARS 6 227,482.)00 ) lawful
of** ..._...r.�...�
money of the United fates, for the payment vvflk0 sum well end truly to be made, we blM ouraehres, our
heir9, succ�essore, executors and administrators. jointly and severally, firmly by these presents_
**Two Hundred Twenty-seven Thousand Four Hundred Eighty -Two and NO/100 Dollars
executors,
The condition of this obligation is such that I the above bounded principal. his Or its heirs, eket end
administrators, successors or assigns, shall In all things stand to and abide by, a w4*1� ���f mapde d
perform the covenants, conditions and provisions in the said agreement and any
rt. to be kept and performed at the tlme end in the manner therein
therein provided, on his or their pa Pt
specified, and in all respects according to their tale intent and meaning, srW shall indemnify and Savo
harmless the City. its otticers, ag" and employees. as theroin sapuleted, then this obligation shad become
null and void. of wbm it shall be and remaln In full force and effect.
anon secured hereby end in addition to the face Mmunt Wecfied therefior, there
As a part of is oblig snd firms including reawwW* attorneys flees. incurred
shall be included cosh and ��� �� all to be taxed as coats and Included in a"judpmetrt
by City in successfully enforcing such obligation.
rendered.
Pap 1 of 2
F201 - PMiorM@nat BMW
BOND NUMBER: SU5018207
SUBDIVISION IMPROVEMENTS
Parcel Map No. 31798
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT, the City Council of the City of La Quints has approved the final map for Parcel Map
o. 31798 prior to Installation of certain designated puWc improvements required by the
N
North 7of Approve the aubjod map, in accordance with the California Map Ad (Govemment Code
Section 66462)
WHEREAS, the City Council of the City of La Quints, State of California, and
CRV Watermark Granite La uinta.hereinafter designated 85 "the principal" have
entered into an agreement whereby the princippal agrees to Install and complete certain designated public
improvements, which agreement. dated 01/16 20061 and identified as Parcel Map
No. 31798 is hereby refs to and made a part hereof, and
WHEREAS, under the terms of the agreement, the principal Is required before entering upon the
performance of the work, to file a good and suflklent payment bond with the City of La Quints to secure the
clai m' to which reference Is made in TMe 15 (commencing with Section 3082) of Part 4 of Division 3 of the
Civil Code of the State of California.
NOW9 THEREFORE, the principal and the undersigned as corporate surety, are held firmly bound
unto the City of L.a Quinta and all contractors, subcontractors, laborers, materiairnen► and other persons
employed in the performance of the agreement and referred to in Title 15 (commencing with Sectbn 3082)
of Part 4 of Wsion 3 of the Civil Code In the sum of Two Hundred Twent -sev dred
Eighty-two and NO/100 DOLLARS (S_?27,482.00 ), for rnatenels f5mjshed or labor of any kind, or for
amo" unts due under the Unemployment Insurance Act with respect to this work or labor, that the surety will
pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought
upon this bond, will pay, in addition to the fad amount thereof, costs a�� �, �� � � � nd fees,
including reasonable attorney a few, irtam'e Y city ttterern rendered.
and fixed by the court, and to be taxed as costs and to be indudbd in the judgment
It Is hereby expressly Bgpuiated and a9reod that this bond *hall Inure to the benefit of any and all
persons, companies, and corporations entitled to file claims under itle 15 (commencing with Section 3082)
of Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit
brought upon this bond_
Should the condition of this bond be fully perforated, fm this obliga#on shall become null artd void,
otherwise it shall be and remain in full force and effed.
Page 1 or 2
F202 - Labor and Material Bond