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CC Resolution 2007-057 RESOLUTION NO. 2007-057 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA, GRANTING AN EXTENSION OF TIME FOR THE COMPLETION OF THE ON-SITE IMPROVEMENTS AS SPECIFIED IN THE APPROVED SUBDIVISION IMPROVEMENT AGREEMENT TO APRIL 25, 2008 FOR TRACT MAP NO. 31798, WATERMARK VILLAS, WATERMARK GRANITE LA QUINTA, LLC. WHEREAS, the City Council approved the Subdivision Improvement Agreement (SIAl for Tract Map No. 31798, Watermark Villas, on December 12, 2005; and WHEREAS, Section 6. Completion of Improvements, of the approved SIA . requires that the Subdivider begin construction of the improvements within ninety days and complete the construction within twelve months after the approval of the Agreement; and WHEREAS, failure by the Subdivider to complete construction of the improvements by December 12, 2006, shall constitute cause for the City, in its sole discretion and when it deems necessary, to declare the Subdivider in default of the approved agreement; and WHEREAS, Section 8. Time Extension, of the approved SIA allows for, at the City Council's sole and absolute discretion, an extension of time for completion of the improvements with additions or revisions to the terms and conditions of the Agreement. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of La Quinta, California, as follows: Section 1. The time for the completion of improvements as required by the approved SIA is extended to April 25, 2008. Section 2. The time extension for completing the improvements shall expire when City offices close for regular business on April 25, 2008. If the Subdivider has not completed the improvements, the City, in its sole discretion and when deems necessary, may declare the Subdivider in default of the Agreement. Section 3. The provided security amount as required in the approved SIA is satisfactory. No additional securities are required. Resolution No. 2007-057 Tract Map No. 31798, Watermark Villas Adopted: July 3. 2007 Page 2 Section 4. All other terms, responsibilities and conditions as listed in the approved SIA shall remain in full force and effect. PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta City Council held on this 3rd day of July 2007, by the following vote, to wit: AYES: Council Members Henderson, Kirk, Osborne, Sniff, Mayor Adolph NOES: None ABSENT: None ABSTAIN: None DON AD PH, yor City of La Quinta, California ATTEST: ERONICA J. M T C , CMC, City Clerk City of La Qui , California (City Seal)