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HomeMy WebLinkAboutRecorded Doc 2022-005r- - Re corded c 0• ZOZZ -605 Show RECORDING REQUESTED BY: 2022_0220129 CITY CLERK 05/11/2022 11 :15 AM Fee: $ 0.00 Page 1 of 26 WHEN RECORDED RETURN TO: CountyeofiRivversidel Records Peter Aldana Assessor-County C�lerk-Recorder City ofl Cathedral City I n u'ili �r R�;�� o T,��Ii l 68-700 Avenida Lalo Guerrero Cathedral City, CA 92234 SPACE ABOVE THIS LINE FOR RECORDER'S USE CITY OF CATHEDRAL CITY IMPROVEMENT AGREEMENT TRACT NOS. 28561 & 28561-1 RIO DEL SOL - ELEMENTS DATE OF AGREEMENT: Apv�1 I , 2022_ NAME OF DEVELOPER: RDS DEVELOPMENT, LLC, a California limited liability company, . (hereinafter referred to as "Developer"). NAME/NUMBER OF DEVELOPMENT: ELEMENTS area of the Rio Del Sol subdivision consisting of fifty-six (56) residential lots, in a portion of Planned Unit Development PUD 97- 4, originally approved on September 24, 1997 (and amended on June 6, 2018), and Tentative Tract 28561, originally approved on September 24, 1997. AMENDMENT TO PLANNED UNIT DEVELOPMENT 97-4 APPROVED ON June 6, 2018, BY ACTION OF THE PLANNING COMMISSION (the "Approval Action"). ORIGINAL PLANNED UNIT DEVELOPMENT 97-4 APPROVED by Resolution of the City Council No. on September 3, 1997. FINAL MAPS FOR TRACTS No. 28561-1 & 28561 APPROVED RECORDED ON September 17, 2002 (No. 2002-515045), and October 14, 2003 (No. 2003-805429), respectively. PROPERTY SUBJECT TO AGREEMENT: The real property which is the subject of this Agreement is located in the City of Cathedral City, County of Riverside and is described in Exhibit "A" attached hereto and incorporated herein (hereinafter the "Property"). EST. TOTAL COST OF EST. TOTAL COST OF EST. TOTAL COST OF PUBLIC IMPROVEMENTS: PRIVATE IMPROVEMENTS: MONUMENTATION: $ 210,500.00 $ 575,100.00 $ 5,000.00 (see Exhibit "B-1") (see exhibit "B-1") (see Exhibit "B-1") Page 1 of 20 BOND NUMBERS: LETTER OF CREDIT NUMBERS: FINANCIAL INSTITUTION: THIS DEVELOPMENT IMPROVEMENT AGREEMENT ("Agreement") is made and entered into by and between the City of Cathedral City, a California municipal corporation (hereinafter referred to as "City"), and RDS Development, LLC, a California limited liability company, (hereinafter referred to as "Developer"). City and Developer are sometimes referred to hereinafter individually as a "Party", and collectively as the "Parties". RECITALS A. Developer is the lessee of certain real property located in the City of Cathedral City wherein certain Indian Allottees and members of the Agua Caliente Band of Cahuilla Indians are the lessors, legally described on Exhibit "A" attached hereto and incorporated and made part of this Agreement by this reference (the "Property"). The Property is owned by the Allotees and is held in trust by the United States Department of Interior, Bureau of Indian Affairs which has consented to the Development of the Property by the Developer. B. Developer's predecessor in interest submitted an application to City for the amendment of Planned Unit Development No. 97-4, generally known as the Rio Del Sol development, as originally approved by City Council Resolution No. 97-55 on September 24, 1997, to allow the construction of single family detached residential units on property located south of Gerald Ford Drive and west of Da Vall Drive. Developer now intends to construct said dwelling units in four separate phases, one of which is designated the Elements area of the Rio Del Sol development, consisting of 56 vacant lots. C. Final subdivision maps for the Property have previously been approved and recorded, pursuant to Tentative Tract No. 28561, as originally approved by City Council Resolution No. 97-54 on September 24, 1997, as follows: Tract Map No. 28561-1, recorded on September 17, 2002, in Book 323 at Pages 35 through 49, inclusive, of Maps, and Tract Map No. 28561, recorded on October 14, 2003, in Book 343 at Pages 15 through 22, inclusive, of Maps, both in the office of the Riverside County Recorder. All the requirements and conditions of approval imposed on Planned Unit Development No. 97-4 and on Tentative Tract No. 28561 are incorporated into this Agreement by this reference as if set forth fully herein. D. On June 6, 2018, the City Planning Commission reviewed and approved the above-mentioned amendment of Planned Unit Development No. 97-4, subject to the original Page 2 of 20 conditions of approval, and those described in the PlanningCommission Staff Report dated May p 31, 2018, which are incorporated into this Agreement by this reference as if set forth fully herein. E. The conditions of approval of Planned Unit Development No. 97-4 and Tentative Tract Map No. 28561 require that prior to the issuance of building permits, the Developer and the City shall enter into an Improvement Agreement, secured with sufficient security, as a guarantee of the construction and completion of all public and private improvements and land development work required by said conditions of approval and by the City subdivision laws and codes. F. In consideration of the approval of the amendment to Planned Unit Development No. 97-4 by the Planning Commission and for the issuance by City of building permits on the lots and properties in the Elements area of Rio Del Sol as described in Exhibit "A" and depicted in Exhibit "B-2", Developer desires to enter into this Agreement to complete at its own expense all of the required public and private improvements and land development for the Elements area. . G. Improvement Plans (the "Plans") for the construction, installation, and completion of the public and private improvements are being or have been prepared by Developer and will be subject to approval by the Director of Engineering/Public Works ("City Engineer"). The City has adopted standards (hereinafter "Standards") for the construction and installation of improvements within the City, and the Plans will be prepared in conformance with the Standards in effect on the date of the approval of the Application. The Plans will be on file in the Office of the City Engineer and are incorporated into this Agreement by this reference as if set forth fully herein. All references in this Agreement to the Plans shall be deemed to include reference to any specifications for all of the improvements as approved by the City Engineer. H. An estimate of the cost for construction of the public and private improvements and performing the land development work within the Elements area according to the Plans has been made and approved by the City Engineer. The estimated cost of these improvements is set forth on Page One (1) of this Agreement, and the basis for the estimate is attached hereto as Exhibit "B-1" and incorporated and made part of this Agreement by this reference. The amounts of the Improvement Securities required to be posted with this Agreement are also based upon the estimate in Exhibit "B-1". I. For the purposes of this Agreement, the term "Public Improvements" means all those water and sewer system improvements within Tract No. 28561-1 and Tract No. 28561, which upon completion of their construction and installation, will come under the jurisdiction, maintenance and control of the Coachella Valley Water District ("CVWD"). The estimated cost of their construction is included in the above estimate included herein as Exhibit "B-1". NOW, THEREFORE, in consideration of the Planning Commission's approval of the Application and subsequent issuance of building permits, Developer and City hereby agree as follows: Page 3 of 20 1. Developer's Obligation to Construct Improvements. (a) In constructing and installing the improvements in said Elements area, Developer shall comply with all of the requirements and conditions of approval of Planned Unit Development No. 97-4 and the amendment thereto, and Tentative Tract No, 28561, as well as the provisions of the Municipal Code and Subdivision Laws. (b) Developer shall complete, at its own expense, all the public and private improvements and related work on the Development, as required by the conditions of approval of the Tentative Map in conformance with the approved Plans and City Standards, including without limitation, those improvements set forth in Exhibit "B-1" and shown in Exhibit "B-2" (hereinafter collectively the "Improvements") within twenty-four (24) months of the date of this Agreement , unless a time extension is granted by the City as authorized by Section 20 of this Agreement. (c) Notwithstanding the time limits specified in Section 1(b) above, no single family dwelling unit or group of units shall be given final inspection and clearance for occupancy by City unless the private and public streets providing access to and fronting such units are completed, the final lifts of pavement on the streets are in place, and all wet and dry utility services (e.g. sewer, water, electrical power, telephone, gas, etc.) to such units are in place and are operational. (d) Developer shall furnish the necessary materials for completion of the Improvements in conformity with the Plans and City Standards. (e) Developer shall acquire and dedicate, or pay the cost of acquisition by the City, of all right-of-way, easements and other interests in real property required for construction or installation of the Improvements, free and clear of all liens and encumbrances. Developer's obligations relating to acquisition by City of off-site rights-of-way, easements and other interests in real property shall be subject to a separate agreement between Developer and City. Developer shall also be responsible for obtaining any public or private drainage easements or authorizations therefor to accommodate the Development. (f) Developer shall furnish and install all monuments, stakes and property corners on the lots and streets in the Elements area as specified on the final recorded tract maps for the Development in accordance with the provisions of the Subdivision Laws, and shall submit centerline tie sheets to City, within thirty (30) days after completion of the Improvements, or as specified in any separate monument agreement with the City, but in any event prior to their acceptance by the City. (g) Developer shall cause to be prepared and recorded a Record of Survey as required by Section 8762, et. Seq. of the State Business and Professions Code, for any previously recorded lot line adjustment within the Development, for which no Record of Survey has previously been recorded. The estimated cost of such Record of Survey is included in the above described Exhibit "B-1". 2. Improvement Securities. (a) Developer agrees to secure this Agreement with good and sufficient improvement securities in a form approved by the City Attorney (referred collectively hereinafter as "Improvement Securities" and individually as "Improvement Security") to guarantee the Page 4 of 20 construction and completion of all the improvements in the Elements area. All such improvement securities shall be posted with the City prior to the City's final building inspection and issuance of a Certificate of Occupancy for any single family dwelling constructed by Developer, its agents, assigns or contractors, on any lot within the Elements area of the Rio Del Sol development, as described in Exhibit "A" and depicted in Exhibit "B-2". Said securities are estimated at this time in Exhibit "B-1" to be in the following amounts, and shall be for the purposes described as follows: (i) Seven Hundred Eighty Five Thousand Six Hundred and 00/100 DOLLARS ($785,600.00) to ensure faithful performance of the construction and installation of the public and private Improvements required by this Agreement ("Performance Security"), which amount is 100% of the estimated cost of the Improvements as set forth in Exhibit "B"; and (ii) Three Hundred Ninety Two Thousand Eight Hundred and 00/100 DOLLARS ($392,800.00) to secure payment to any contractor, subcontractor, persons renting equipment or furnishing labor materials for the Improvements required to be constructed or installed pursuant to this Agreement ("Labor & Materials Security"), which amount is 50% of the estimated cost of the Improvements; and (iii) Seventy Eight Thousand Five Hundred Sixty and 00/100 DOLLARS ($ 78,560.00) in the form of a Warranty Bond or cash deposit with the City to guarantee or warranty the Improvement work done pursuant to this Agreement for a period of one (1) year following acceptance/certification thereof by City, against any defective work or labor done or defective materials furnished ("Warranty Security"). The Warranty Security is 10% of the estimated cost of the Performance Security amount described above, and such Warranty Security must be provided by Developer to City prior to the City's release of any bonds or Improvement Securities filed with this Agreement. (v) Five Thousand and 00/100 Dollars ($5,000.00) in the form of a cash deposit, which is 100% of the estimated cost of setting all final subdivision monuments, boundary corners, front and rear lot corners and centerline ties not previously set or submitted on the lots and streets within the Property as described in Exhibit "A", and for the preparation and recordation of any related Certificate of Correction, as required by Section 66469 of the State Subdivision Map Act. (b) The Improvement Securities required by this Agreement shall be kept on file with the City Clerk. If surety bonds are used, they must be issued by a surety company currently admitted to transact surety insurance business in California by the California Department of Insurance, with a Best's Insurance Guide rating of no less than A-. The terms of any documents evidencing such Improvement Securities as set forth in this Section 2 or referenced on Page One (1) of this Agreement, are incorporated into this Agreement by this reference as if set forth fully herein. If any Improvement Security is replaced by another type or kind of approved Improvement Security, subject to the approval of the form thereof by the City Attorney, the replacement shall be filed with City Clerk and, upon filing, shall be deemed to have been made a part of and incorporated into this Agreement. Upon filing of a satisfactory replacement Improvement Security with the City Clerk, the former Improvement Security shall be released. Page 5 of 20 (c) Developer agrees to keep its Improvement Securities in full force and effect until they are reduced or released by City. If any Improvement Security provided by Developer is cancelled or terminated for any reason by the action of a surety, financial institution or other party, it shall be the responsibility of the Developer to immediately, upon written notice from City, provide a substitute Improvement Security which conforms to all the requirements of this Section 2 in the same amount or amounts. (d) Any additions, changes, alterations, or modifications of this Agreement or to the Plans, Specifications and Improvements referred to herein, including any extension of time within which the work hereunder may be completed, shall not release or exonerate any surety or sureties on the Improvement Security given in connection with this Agreement. 3. Alterations to Improvement Plans; Modification of City Standards. (a) Any changes, alterations or additions to the Plans or to the Improvements, not exceeding 10% of the original estimated cost of the Improvements, which are mutually agreed upon by City and Developer, shall not require Developer to increase any Improvement Securities provided under this Agreement. In the event such changes, alterations, or additions exceed 10% of the original estimated cost of the Improvements, Developer shall provide additional Performance Security as required by Section 2 of this Agreement for 100% of the total estimated cost of the Improvements as changed, altered, or amended, minus any completed partial releases allowed by Section 7 of this Agreement. Developer shall also provide additional Labor & Materials Security as required by Section 2 of this Agreement for 50 % of the total estimated cost of the Improvements as changed, altered, or amended. (b) Developer shall construct all Improvements in accordance with the City Standards in effect as of the date of the Approval Action specified on Page One (1) hereof. The City reserves the right to modify the Standards applicable to the Subdivision and this Agreement, when necessary to protect the public safety or welfare or to comply with applicable State or Federal law or City zoning ordinances. If Developer requests and is granted an extension of time for completion of the Improvements, the City may apply the Standards in effect at the time the extension is granted. 4. Modification of Drainage Plan. Developer agrees that if during the course of construction and installation of Improvements it shall be determined by the City Engineer that revision of the drainage plan is necessary in the public interest, it will undertake such design and construction changes as may be reasonable and as are indicated by the City Engineer and approved by City. Said changes, if any, shall be confined to the Property. 5. Reserved. 6. Inspections; Final Acceptance and Certification of Improvements. (a) Developer shall at all times maintain proper facilities and safe access for inspection of the Improvements by City inspectors and to the shops wherein any work is in preparation. (b) Upon completion of the Improvements covered in this Agreement, the Developer shall request a final inspection by the City Engineer or his/her authorized representative. Page 6 of 20 Following receipt of such request, the City Engineer shall inspect the Improvements, make certain determinations and take certain actions as follows: (i) If the City Engineer, or his/her authorized representative, determines that the Public Improvements requiring acceptance by the Coachella Valley Water District have been completed in accordance with this Agreement, then the City Engineer shall request said District to make a final inspection of such improvements and certify to the City that such improvements have been completed and installed to the satisfaction of said District. Upon receipt of such certification, the City Engineer may release or reduce the securities held for such improvements. Any certification and/or acceptance of the Public Improvements shall not constitute a waiver of any defects by City. (ii) For Improvements not requiring dedication to or acceptance by the Coachella Valley Water District (the "Private Improvements"), the City Engineer or his/her authorized representative shall inspect such improvements, and/or shall have the discretion to accept a certification from Developer's registered civil engineer stating that the Private Improvements have been completed in accordance with the approved Plans, City Standards and the Tentative Map. If the City Engineer, or his/her authorized representative, makes a finding, based on his/her own inspection (and/or any certification submitted by Developer's registered civil engineer) that the Private Improvements have been installed and constructed in accordance with the approved Plans, City Standards and the Tentative Map, the City Engineer shall recommend certification of the completion of the Private Improvements by placing an item on the next most convenient City Council agenda requesting certification and authorization to release the Improvement Securities. Said determination by the City Engineer and agendization of the certification and release shall not be unreasonably withheld or delayed. (c) Developer shall bear all costs of inspection and certification of the Improvements. 7. Release of Improvement Securities. (a) The Performance Security shall be fully released only upon the final completion and certification of all Private Improvements, and after acceptance of the Public Improvements by the Coachella Valley Water District. Partial releases may be permitted subject to the provisions of Subsections (a)(i) and (a)(ii) hereof. Upon final completion of the Public and Private Improvements under this Agreement, and after City Council acceptance/certification, the City shall file a Notice of Completion in accordance with the California Civil Code. (i) The City Engineer may release a portion of the Performance Security, as work on the Improvements progresses, upon written application thereof by the Developer; provided, however, that no such release shall be considered by City until the value of the work remaining to be completed is thirty percent (30%) or less of the estimate of the total amount of work to be done as shown in Exhibit "B-1".. Upon approval of a partial release or the reduction of Performance Security, the City shall not reduce such Performance Security to an amount less than one- hundred-fifty percent (150%) of the value of the work remaining to be done. City and Developer agree that not more than two requests for reduction or partial release of Performance Security shall be considered between the Page 7 of 20 L start of construction and the completion and acceptance/certification of the Improvements by the City. (ii) In no event shall the City Engineer authorize a release or reduction of the Performance Security which would reduce such security to an amount below that required to guarantee the completion of the Improvements and any other obligations imposed upon Developer by this Agreement. (iii) No partial reduction or release of the Performance Security shall constitute or be construed as the City's acceptance or certification of any Improvements or related work. Such partial reductions or releases (if any) will merely reflect that a certain portion of the required work has been done. (b) The Labor & Materials Security shall, ninety (90) days after the City's recordation of the Notice of Completion described in Subsection 7(a), be reduced to an amount equal to the total claimed by all claimants for whom liens have been filed and of which notice has been given to City, plus an amount reasonably determined by the City Engineer to be required to assure the performance of any other obligations secured by the Labor & Materials Security and to cover related legal costs. The balance shall be released upon the settlement of all claims and obligations for which the Labor & Materials Security was given. If no claims or liens have been filed and no notice has been given to City within said ninety (90) day period, then the Labor & Materials Security shall be released in full. (c) The Warranty Security shall not be released until after the expiration of the one- year (1-year) warranty period and until any claims filed during the warranty period have been settled. As provided in Section 11, below, the warranty period shall not commence until final acceptance/certification of the Improvements and related work by the City Council. (d) The Monumentation Security may be released in full by the City Engineer in accordance with the terms of the separate monument agreement with the City, or if there is none, upon submittal of the following: (i) a written certification from the professional engineer or surveyor responsible for setting the monuments stating that all the final monuments for the Subdivision have been set in accordance with the Professional Land Surveyors Act and the Subdivision Map Act, and that the professional engineer or surveyor has been paid in full by Developer for such services; and (ii) centerline tie sheets prepared in a manner acceptable to the City Engineer showing the locations of centerline monuments in existing public or private streets; and (iii) any Record of Survey required by this Agreement has been filed with the County of Riverside and recorded. (e) The City may retain from any Improvement Securities released an amount sufficient to cover costs and reasonable expenses and fees, including reasonable attorneys' fees. 8. Injury to Public Improvements, Public Property or Public Utilities Facilities. Developer shall replace or repair, or cause the repair or replacement of any and all public or private improvements, public utilities facilities and survey or subdivision monuments which are destroyed or damaged as a result of any work under this Agreement. Developer shall bear the Page 8 of 20 entire cost of replacement or repairs of any and all public or private improvements or utility property damaged or destroyed by reason of any work done under this Agreement, whether such property is owned by the United States or any agency thereof, or the State of California, or any agency or political subdivision thereof, or by the City or any public or private utility corporation or by any combination of such owners. Any repair or replacement shall be made to the reasonable satisfaction, and subject to the approval of the City Engineer and the owner of any such public or private improvement. 9. Permits. Developer shall, at Developer's expense, obtain all necessary permits and licenses for the construction and installation of the Improvements, give all necessary notices and pay all fees and taxes required by law. 10. Notice of Breach/Default of Developer. (a) Default of Developer shall include, but not be limited to: (1) Developer's failure to timely complete construction of the Improvements; (2) Developer's unwarranted failure to timely cure any defect in the Improvements; (3) Developer's failure to perform substantial construction work for a period of twenty (20) consecutive calendar days after commencement of the work; (4) Developer's insolvency, appointment of a receiver, or the filing of any petition in bankruptcy either voluntary or involuntary which Developer fails to discharge within thirty (30) days; (5) the commencement of a foreclosure action against the Property or a portion thereof, or any conveyance in lieu or in avoidance of foreclosure; (6) Developer's failure to keep the Improvement Securities in full force and effect; (7) Developer's failure to notify the City of any sale, transfer or other disposition of the Property to a purported new Developer; (8) Developer's failure to maintain insurance; or (9) the failure of Developer or Developer's contractors, subcontractors, agents or employees to comply with any other terms and provisions of this Agreement. (b) In the event of any such default, the City Engineer or the City Council may serve written notice to Developer specifying in reasonable detail the nature of the default. Developer shall have thirty (30) days from receipt of said notice to cure the default; provided that, if the default is not reasonably susceptible to being cured within said thirty (30) days, Developer shall have a reasonable period of time to cure the default so long as Developer commences to cure the default within said thirty (30) days and diligently prosecutes the cure to completion. (c) If following service of such written notice of default, Developer fails to cure or commence curing the default to the satisfaction of City within the cure period specified in Subsection 10(b), above, the City Engineer or the City Council may serve notice of Developer's default upon Developer and where applicable Developer's surety, or the holder(s) of any other Improvement Securities, in accordance with the notice provisions set forth in Section 22 of this Agreement. (d) In the event of service of the notice of default specified in Subsection 10(c), above, Developer's surety shall have the duty to take over and complete the Improvements and related work required under this Agreement; provided; however, that if the surety, within twenty (20) days after the serving upon it of such notice of default, does not give the City written notice of its intention to take over the construction of said Improvements or does not, within ten (10) days after giving City notice of such election, commence to complete the Improvements, City may Page 9 of 20 take over the work and prosecute the Improvements to completion, by contract or by any other method City may deem advisable, for the account and at the expense of Developer, and Developer's surety shall be liable to City for any costs or damages occasioned City thereby; and, in such event, City, without liability for so doing, may take possession of, and utilize in completing the Improvements, such materials, appliances, plant and other property belonging to Developer as may be on the site of the work and necessary for the completion of same. (e) The City reserves to itself all remedies available to it at law or in equity for Developer's default under this Agreement. The City shall have the right, subject to this Section, to draw upon or utilize the appropriate Improvement Securities to mitigate City's damages in event of default by Developer. The right of City to draw upon or utilize the Improvement Securities is additional to and not in lieu of any other remedy available to City. It is specifically recognized that the estimated costs and amounts of Improvement Securities may not reflect the actual cost of construction or installation of the Improvements, and therefore, City's damages for Developer's default shall be measured by the actual cost of completing the required Improvements. The sums provided by the Improvement Securities may be used by City for the completion of the Improvements in accordance with the Plans. (f) Failure of Developer to comply with the terms of this Agreement, including but not limited to, construction of all the Improvements as set forth herein and as required by the Tentative Map, shall constitute Developer's consent to: (1) the filing by City of a notice of violation against all of the lots in the Subdivision; (2) withholding of Building permits, utility connections and/or Certificates of Occupancy. The remedies provided by this Subsection (f) are in addition to and not in lieu of any other remedies available to City at law or in equity. Developer agrees that the choice of remedy or remedies for Developer's default or breach shall be in the sole discretion of City. (g) In the event that Developer fails to perform any obligation hereunder, Developer agrees to pay all costs and expenses incurred by City in securing performances of such obligations, including costs of suit and reasonable attorney's fees. (h) The failure of City to take an enforcement action with respect to a default, or to declare a default or breach, shall not be construed as a waiver of that default or breach, or of any subsequent default or breach of Developer. Any failure by the City to enforce any provision of this Agreement shall not be construed as a waiver of the right to compel enforcement of such provision(s) and further shall not act to release any surety from its obligations under this Agreement. 11. Warranty. (a) For a period of one (1) year after final acceptance/certification by the City Council of the Improvements, Developer shall guarantee or warranty all the Improvements against any defective work or labor done or defective materials furnished. If within the warranty period any work relating to the Improvements or any part of thereof furnished, installed, constructed or caused to be done, furnished, installed or constructed by Developer fails to fulfill any of the requirements of this Agreement or the Plans, Developer shall without delay and without any cost to City, commence to repair or replace or reconstruct any defective or otherwise unsatisfactory part or parts of the work or structure within thirty (30) days of receiving written notice from City of the defect and diligently prosecute the repair or replacement work to completion. Page 10 of 20 • (b) Should Developer fail to act promptly or in accordance with the repair/replacement requirements set forth herein, Developer hereby authorizes City, at City's option, to perform the repair/replacement work twenty (20) days after mailing written notice to Developer and to Developer's surety, and Developer agrees to pay City for the cost of such work. (c) Should the City determine that an emergency or a threat to the public safety and welfare exists from the condition of the Improvements which require repairs, replacements or remedial measures to be made before Developer can be notified, City may, in its sole discretion, make the necessary repairs or replacements or perform the necessary work and Developer shall pay to City the cost of such repairs. 12. Developer Not Agent of City. Neither Developer nor any of Developer's agents, officers, employees, or contractors are or shall be considered to be agents of City in connection with the performance of Developer's obligations under this Agreement. 13. Injury to Improvement Work; Risk of Loss. Until such time as the Public Improvements are accepted by City, Developer shall be responsible for and bear the risk of loss to any of the Public Improvements constructed or installed and shall be responsible for the care, maintenance of and any damage to such Public Improvements. Neither City, nor any of its agents, officers or employees shall be liable or responsible for any accident, loss or damage, regardless of cause, happening or occurring to the Public Improvements specified in this Agreement prior to the completion and acceptance of the Public Improvements by City. All such risks shall be the responsibility of and are hereby assumed by Developer. Developer is responsible for and shall bear the risk of loss for all Private Improvements at all times. 14. Other Agreements. Nothing contained in this Agreement shall preclude City from expending monies pursuant to agreements concurrently or previously executed between the Parties, or from entering into agreements with other Developers for the apportionment of costs of water and sewer mains, or other improvements, pursuant to the provisions of City ordinances providing therefor, nor shall anything in this Agreement commit to any such apportionment. 15. Developer's Obligation to Warn Public During Construction. Until final acceptance/certification of the Public Improvements pursuant to Section 6(b)(i), and final certification of construction of the Private Improvements pursuant to Section 6(b)(ii), Developer shall give good and adequate warning to the public of each and every dangerous condition existent in said Improvements, and will take all reasonable actions to protect the public from such dangerous conditions in, on or around the work site. 16. Vesting of Ownership. Upon acceptance of the Public Improvements and related work on behalf of the City, and after recordation of the Notice of Completion, ownership of the Public Improvements constructed within the Private streets in the Development shall vest in the name of the Coachella Valley Water District , or applicable utility company, and any improvement constructed on any public street pursuant to this Agreement shall vest in City. Page 11 of 20 17. Indemnity/Hold Harmless. (a) Neither the City, nor any official, officer, employee, contractor or agent thereof, shall be liable for any injury to persons or property occasioned by reason of the acts or omissions of Developer, its agents, subcontractors or employees in the performance of this Agreement. Developer hereby agrees to, and shall defend and hold harmless City, its elective and appointive boards, commissions and officers, and its agents, contractors and employees from and against any and all claims, demands, causes of action, damages, costs, expenses, actual attorneys' fees, consultant's fees, expert's fees, losses or liability, in law or in equity, of every kind and nature whatsoever arising out of or in connection with Developer's operations, or any subcontractor's operations, to be performed under this Agreement for Developer's or subcontractor's tort negligence including active or passive, or strict negligence, including but not limited to personal injury including, but not limited to bodily injury, emotional injury, sickness or disease, or death to persons and/or damage to property of anyone, including loss of use thereof, caused or alleged to be caused by any act or omission of Developer or any subcontractor, or anyone directly or indirectly employed by any of them or anyone for the full period of time allowed by law, with the exception of the sole negligence or willful misconduct of City. (b) Developer's indemnity, defense and hold harmless obligations under this Section 17 are not conditioned or dependent upon whether City, or its elective and appointive boards, commissions and officers, or its agents, contractors and employees, prepared, supplied or reviewed any Plans or related specifications in connection with the Improvements, or whether City or Developer has insurance or other indemnification covering any of these matters. (c) Developer's obligation to indemnify, hold harmless and defend City shall extend to injuries to persons and damages to or alleged taking of property resulting from the design or construction of the Improvements. City's acceptance and/or certification of the Improvements shall not constitute an assumption by City of any responsibility or liability for any damage or alleged taking of property referenced herein. City shall not be responsible or liable for the design or construction of the Improvements constructed or installed pursuant to the Plans, unless the particular Improvement design was required by City over the written objection of Developer, which objection stated that the Improvement design was potentially dangerous or defective and set forth a safe and feasible alternative design. After City's acceptance/certification of the Improvements, Developer shall remain obligated to correct or eliminate all dangerous conditions caused by defects in design or construction; provided, however, that the Developer shall not be responsible for routine maintenance. Developer acknowledges and agrees that Developer shall be responsible and liable for the design and construction of the Improvements and other work done pursuant to this Agreement, and except as may be provided above, City shall not be liable for any acts or omissions in approving, reviewing, checking, correcting or modifying any Plans, or in inspecting, reviewing or approving any work or construction of Improvements. Developer's Improvement Securities shall not be required to secure Developer's obligations under this Section 17. 18. Sale or Disposition of Subdivision; Assignment. (a) Developer acknowledges and agrees that sale, transfer or other disposition of the Property prior to completion of the Improvements required hereunder will not relieve Developer from the obligations set forth in this Agreement, and Developer shall be required to notify City Page 12 of 20 sixty (60) day in advance of any sale or transfer of ownership of the Property or any proposed assignment of this Agreement. If Developer sells or otherwise transfers the Property to any other person or entity prior to final completion of the Improvements, or wishes to assign this Agreement, Developer may request a novation of this Agreement and a substitution of Improvement Securities by the new owner or proposed assignee (hereinafter collectively for purposes of this Section, "Successor"). Developer shall be required to provide any documentation reasonably required by City to determine the appropriateness of any proposed Successor. (b) Any proposed Successor must demonstrate to the City its ability to perform and complete the obligations of Developer under this Agreement, as determined by objective standards of financial capability, creditworthiness and experience required for such performance, and the City shall have the right to compel the Successor to disclose all documents, information and other material which, in City's sole reasonable discretion, may establish or tend to establish that the proposed Successor meets the standards specified herein. Following approval by City and full execution of a novation (or other such release or assignment and assumption agreement(s) entered into by Developer, Successor and City), posting of satisfactory Improvement Securities and submission of required insurance by Successor, City shall release or reduce the securities posted by Developer in accordance with the provisions of such novation and release Developer of its obligations under this Agreement. Nothing in the novation (or other such release or assignment and assumption agreement entered into by Developer, Successor and City) shall relieve Developer of its obligations under any other Section of this Agreement for work or Improvements performed by Developer prior to the novation. 19. Time of the Essence. Time is of the essence in this Agreement. 20. Time for Completion of Improvements; Extensions. (a) Developer shall commence and diligently prosecute to completion construction of all the Improvements required by this Agreement. The time for completion of the Improvements as specified in Subsection 1(b) of this Agreement may be extended as permitted by City ordinance. The City Manager may grant an extension of time for such period as may be in the public interest upon the showing of the Developer of good cause. Any such extension granted shall be subject to the limitations and conditions set forth in Subsections 20(b) and (c), below, and shall be made by a writing executed by the in a form as approved by the City Attorney. (b) Any such extension may be granted without notice to Developer's surety and shall not affect the validity of this Agreement or release the surety or sureties on any Improvement Securities given for this Agreement. However, City reserves the right to require as part of any extension amendment a written assurance from the surety acceptable to the City Attorney that the Improvement Securities required by Section 2 of this Agreement shall remain enforceable throughout the term of any extension. (c) The City Manager shall be the sole and final judge as to whether or not good cause has been shown to entitle Developer to an extension. In addition, the time for completion of the Improvements shall be extended for any delay resulting from an act of City, or from an act Page 13 of 20 of God, which Developer could not have reasonably foreseen, or by storm or inclement weather which prevents the conducting of work, or by strikes, boycotts, similar actions by employees or labor organizations, which prevent the conducting of work, and which were not caused by or contributed to by Developer, provided that Developer provides City with written notice of the delaying event within fifteen (15) days of the commencement of the delay. In the event of such delaying event, Developer shall use all reasonable efforts to remedy same and resume completion of the Improvements as promptly as practicable. (d) As a condition of granting an extension of time to complete the Improvements required by this Agreement, the City Manager may require Developer to furnish new or additional Improvement Securities guaranteeing performance of this Agreement as extended in an increased amount as necessary to compensate for any increase in construction costs as determined by the City Engineer. 21. Notice. All notices required by or provided for under this Agreement shall be in writing and delivered in person or sent by certified or registered mail, postage prepaid and addressed as provided in this Section. Notice shall be effective on the date it is delivered in person, or, if mailed, on the date of deposit in the United States Mail. Notices shall be addressed as follows unless a written change of address is filed with City: Notice to City: City of Cathedral City 68-700 Avenida Lalo Guerrero Cathedral City, CA 92234 Attn: City Manager With a Copy to: Eric S. Vail Burke, Williams & Sorensen, LLP 1600 Iowa Ave, Suite 250 Riverside, CA 92507 Notice to Developer: RDS Development, LLC 1300 Esther Street, Suite 200 Vancouver, WA 98660 22. Severability. The provisions of this Agreement are severable. If any portion of this Agreement is held invalid by a court of competent jurisdiction, the remainder of the Agreement shall remain in full force and effect unless amended or modified in writing by the mutual consent of the Parties. 23. Captions. The captions of this Agreement are for convenience and reference only and shall not define, explain, modify, limit, exemplify, or aid in the interpretation, construction or meaning of any provisions of this Agreement. Page 14 of 20 24. Insurance. (a) Developer shall, at all times during the construction of the Improvements, obtain, carry, maintain, and keep in full force and effect, at its sole cost and expense, policies of insurance of the types and in at least the minimum amounts described below: (i) Commercial General Liability policy with a minimum combined single limit of One Million Dollars ($1,000,000) for each occurrence and Two Million Dollars ($2,000,000) in the aggregate for bodily injury, death, personal injury and property damage arising out of or in connection with the activities of the Developer and its contractors and subcontractors in performance of the work under this Agreement. Coverage shall be at least as broad as Insurance Services Office Commercial General Liability coverage (Occurrence Form CG 0001) and shall, in addition to the other coverages specified in this subsection, include coverage for independent contractors, ongoing operations, products and completed operations, contractual liability and personal and advertising injury. (ii) Commercial Vehicle/Automotive Liability policy covering personal injury and property damage, with minimum limits of One Million Dollars ($1,000,000) per occurrence, combined single limit, covering any vehicle utilized by Developer, its officers, agents, employees, subcontractors or independent contractors in performing the work required by this Agreement. (iii) Workers' Compensation and Employer's Liability policy for all Developer's employees, with Workers' Compensation limits as required by State law and Employer's Liability coverage of $1,000,000 per accident for bodily injury or disease. In case any work is sublet, Developer shall require any contractor or subcontractor similarly to provide Workers' Compensation and Employer's Liability Insurance for all contractor's or subcontractor's employees, unless such employees are covered by the protection afforded by Developer. (1) In case any class of employees engaged in work under this Agreement at the work site(s) is not protected under any Workers' Compensation law, Developer shall provide and shall cause each contractor or subcontractor to provide, adequate insurance for the protection of employees not otherwise protected. (2) Developer hereby indemnifies City for any damages or claims resulting from failure of either Developer or any contractor of subcontractor to take out or maintain such liability or Workers' Compensation insurance. (b) Insurer Rating; Acceptability. Except as set forth otherwise herein, the policies required by this Section shall be issued by a California-admitted insurer with a rating of at least a B+; VII in the latest edition of Best's Insurance Guide. A Commercial General Liability policy issued by an insurer that is on the California Department of Insurance's List of Approved Surplus Line Insurers ("LASLI") will be acceptable, if no coverage from an admitted insurer can be obtained by Developer, and further provided that such insurer maintains a Best's rating of at least "A-; X" and remains on the LASLI during the term hereof. Workers' Compensation coverage issued by the State Compensation Insurance Fund shall be acceptable if no other coverage can be obtained by Developer, and further provided such insurer remains admitted in California and is otherwise financially acceptable to City. Page 15 of 20 (c) Deductibles. Any deductibles or self-insured retentions must be declared in writing by Developer to City and subsequently approved by City prior to its execution of this Agreement and prior to commencement of any work hereunder. At City's option, Developer shall either reduce or eliminate the deductibles or self-insured retentions with respect to City, or Developer shall procure a bond guaranteeing payment of losses and expenses. (d) Certificates and Endorsements Verification. Developer shall submit to the City original certificates of insurance and endorsements evidencing the coverages required by this Section. The certificates and endorsements for each insurance policy shall be signed by a person authorized by that insurer to bind coverage on its behalf. All certificates and endorsements must be approved by City Attorney prior to the City's approval or execution of this Agreement. The City reserves the right to require complete, certified copies of all required insurance policies at any time and/or to require Developer to shall provide reports or status updates to evidence compliance of its contractors and subcontractors with the provisions of this Section. (e) Required Endorsements. (i) The Commercial General Liability and Commercial Vehicle/Automotive Liability policies are to contain or be endorsed to contain the following provisions: (1) Additional Insureds. The City of Cathedral City, its officials, officers, employees, agents and independent contractors shall be named as additional insured with respect to liability arising out of automobiles owned, leased, hired or borrowed by or on behalf of the Developer; and with respect to liability arising out of work or operations performed by or on behalf of the Developer including materials, parts or equipment furnished in connection with such work or operations. (2) Primary Insurance. For any claims related to this project, the Developer's insurance coverage shall be primary insurance as respects the City of Cathedral City, its officials, officers, employees, agents and independent contractors. Any insurance or self-insurance maintained by the City of Cathedral City, its officials, officers, employees, agents and independent contractors shall be excess of the Developer's insurance and shall not contribute with it. This endorsement is not applicable to the Commercial Vehicle/Automotive Liability Policy. (3) Waiver of Subrogation. Endorsements waiving all rights of subrogation against the City of Cathedral City, its officials, officers, employees, agents and independent contractors shall be provided. (ii) The Workers' Compensation policy shall be endorsed to waive all rights of subrogation against the City of Cathedral City, its officials, officers, employees, agents and independent contractors. (f) Other Insurance Requirements. All policies required under this Agreement shall contain provisions stating that such policies cannot be canceled or reduced except on at least thirty (30) days prior written notice to Developer (ten (10) days' notice for cancellation due to non-payment). Developer further agrees to: (1) provide to City copies of any notices relating to cancellation or reduction of insurance within two (2) days of receipt; and (2) cause all certificates of insurance to include language indicating that the issuers or producers of such policies will endeavor to provide copies of any such notices directly to City. Page 16 of 20 (g) Commencement of Work. Developer shall not commence work under this Agreement until Developer has obtained all insurance required pursuant to this Section, and such insurance has been obtained by Developer and approved by City; nor shall Developer allow any contractor or subcontractor to commence work on the Improvements until all similar insurance required of the contractor or subcontractor has been obtained. Certificates, endorsements, and where applicable, full copies of policies shall be maintained on file with the City Clerk. (h) Higher Limits. If Developer maintains higher limits than the minimums specified in this Section 25, the City requires and shall be entitled to coverage for the higher limits maintained by Developer. Any available insurance proceeds in excess of the specified minimum limits of insurance and coverage shall be available to the City. 25. Attorneys' Fees. In the event any action at law or in equity is brought to enforce the terms of this Agreement, the prevailing Party shall be entitled to litigation costs and reasonable attorneys' fees. 26. Incorporation of Recitals. The Recitals to this Agreement are hereby incorporated into in the terms of this Agreement. 27. Entire Agreement. This Agreement constitutes the entire agreement of the Parties and supersedes any prior written or oral agreements between them with respect to the subject matter hereof. All modifications, amendments, or waivers of the terms of this Agreement must be in writing and signed by the appropriate representatives of the Parties. 28. Governing Law; Venue. This Agreement shall be governed by and interpreted in accordance with the laws of the State of California. In the event that suit shall be brought by either Party to this contract, the Parties agree that venue shall be exclusively vested in the State courts of the County of Riverside, California or where appropriate, in the United States District Court, Southern District of California, Riverside, California. 29. Runs with the Land; Recordation. (a) The Parties agree that the terms and provisions set forth in this Agreement shall be deemed provisions, terms and/or covenants running with the Property in accordance with applicable law, including without limitation, California Civil Code section 1468, and shall pass to and be binding upon the heirs, successors and assigns of the Parties to this Agreement, and on any successor owner of the Property. (b) The provisions of Subsection 29(a) notwithstanding, Developer shall remain jointly and severally liable with its heirs, successors, assigns or successor owners of the Property for the responsibilities and liabilities imposed by this Agreement unless a novation or assignment agreement is executed in accordance with the provisions of Section 18 of this Agreement. (c) Upon execution, this Agreement shall be recorded in the Official Records of Riverside County, and by such recordation, it is the intention of the Parties to give notice to and bind their successors, heirs and assigns hereto. Page 17 of 20 30. Authority of Executing Parties. Each person executing this Agreement on behalf of a Party represents and warrants that such person is duly and validly authorized to do so all behalf of the entity it purports to bind and that he/she is authorized to enter into contracts on behalf of Developer. The undersigned, on behalf of Developer, binds Developer, its partners, successors, executors, administrators, and assigns with respect to the terms and provisions of this Agreement. [END OF THIS PAGE; SIGNATURES ON FOLLOWING PAGE] Page 18 of 20 IN WITNESS WHEREOF, this Agreement is executed by the Parties hereto on the date above first written. Developer: City: RDS DEVELOPMENT, LLC CITY OF CATHEDRAL CITY a California limited liability company a Municipal .rporation By: Holt Group Holdings, LLC By: a Delaware li 'ted liability company Charles P. McClendon Its: Sole Member City Manager By: 1/ Name: Gres '' bicek Title: Chair w ATTEST: Tracey R. idartinet, CMC City Clerk APPROVED AS TO FORM: 41111. Eric S. Vail, City Attorney APPROVED AS TO CONTENT: I John A. orella, Dir. of ' ngineering/Public Works Attachments: Exhibit A Legal description of Property Exhibit B-1 Cost estimates Exhibit B-2 Sketch of Elements area (Proper Notarization of Developer's Signature is required and shall be attached) Page 19 of 20 STATE OF WASHINGTON ) ) ss. COUNTY OF CLARK ) This record was acknowledged before me on Mc`,e_L� a , 2022, by ,1k-e \-"\v b\ c2k , as Chairman for Holt Group Holdings, LLC, Sole Member of RDS Development, LLC. Notary Public for the State of Washington Residing at \- \,�r My Commission Expires: 0'41 1$I NOTARY PUBLIC STATE OF WASHINGTON LYNNE E GRAY COMMISSION NO. 206878 MY COMMISSION EXPIRES APRIL 18,2023 Page 20 of 20 EXHIBIT "A" LEGAL DESCRIPTION OF "ELEMENTS" PROPERTY 1 Elements lejal description LOT 85, 87 TO 90, INCLUSIVE AND 113 TO 115, INCLUSIVE AND LETTERED LOTS 0 AND Q OF TRACT NO. 28561-1 AS SHOWN ON A MAP FILED IN BOOK 323, PAGES 35 TO 49, INCLUSIVE OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. ADJUSTED LOT 86 AS SHOWN ON CERTIFICATE OF COMPLIANCE LOT LINE ADJUSTMENT NO. 2004-393, RECORDED NOVEMBER 2, 2004 AS INSTRUMENT NO. 2004- 0868732 OF OFFICIAL RECORDS, BEING LOTS 86 TOGETHER WITH A PORTION OF LETTERED LOT P OF TRACT NO. 28561-1, AS PER MAP RECORDED IN BOOK 323 PAGES 35 THROUGH 49, INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. ADJUSTED LOT 91 AS SHOWN ON CERTIFICATE OF COMPLIANCE LOT LINE ADJUSTMENT NO. 2004-364, RECORDED JUNE 23, 2004 AS INSTRUMENT NO. 2004-0484124 OF OFFICIAL RECORDS, BEING PORTIONS OF LOTS 91 AND P OF TRACT NO. 28561-1, AS PER MAP RECORDED IN BOOK 323 PAGES 35 THROUGH 49, INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. MODIFIED LOT 95 AND ADJUSTED LOT 96 AS SHOWN ON CERTIFICATE OF COMPLIANCE LOT LINE ADJUSTMENT NO. 2004-366 RECORDED JUNE 23, 2004 AS INSTRUMENT NO. 2004- 0484126 OF OFFICIAL RECORDS, BEING A PORTION OF LOTS 94 AND 96 AND ALL OF LOT 95 OF TRACT NO. 28561-1, AS PER MAP RECORDED IN BOOK 323 PAGES 35 THROUGH 49, INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. ADJUSTED LOT 106, 107 AND 108 AND MODIFIED LOT 109, AS SHOWN ON CERTIFICATE OF COMPLIANCE LOT LINE ADJUSTMENT NO. 2004-392 RECORDED OCTOBER 7, 2004 AS INSTRUMENT NO. 2004-0797898 OF OFFICIAL RECORDS, BEING LOTS 106 TO 109 AND A PORTION OF LOT 110, INCLUSIVE OF TRACT NO. 28561-1, AS PER MAP RECORDED IN BOOK 323 PAGES 35 THROUGH 49, INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. ADJUSTED LOTS 110, 111 AND 112 AS SHOWN ON CERTIFICATE OF COMPLIANCE LOT LINE ADJUSTMENT NO. 2004-391 RECORDED OCTOBER 7, 2004 AS INSTRUMENT NO. 2004-0797897 OF OFFICIAL RECORDS, BEING A PORTION OF LOTS 110 AND ALL OF LOTS 111 AND 112 OF TRACT NO. 28561- 1, AS PER MAP RECORDED IN BOOK 323 PAGES 35 THROUGH 49, INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. LOTS 66 THROUGH 71 INCLUSIVE, 74 THROUGH 93 INCLUSIVE, 99 THROUGH 102 INCLUSIVEAND LETTERED LOTS C, K, L, M, U AND V OF TRACT NO. 28561 AS SHOWN ON A MAP FILED IN BOOK 343, PAGES 15 TO 22, INCLUSIVE OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. ADJUSTED LOTS 72 AND 73 AS SHOWN ON CERTIFICATE OF COMPLIANCE LOT LINE ADJUSTMENT NO. 2004-406 RECORDED NOVEMBER 19, 2004 AS INSTRUMENT NO. 2004- 0929402 OF OFFICIAL RECORDS, BEING LOTS 72 AND 73 OF TRACT NO. 28561, AS PER MAP RECORDED IN BOOK 343 PAGES 15 THROUGH 22, INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. ADJUSTED LOTS 94 AND 95 AS SHOWN ON CERTIFICATE OF COMPLIANCE LOT LINE ADJUSTMENT NO. 2004-396 RECORDED NOVEMBER 2, 2004 AS INSTRUMENT NO. 2004- 0868735 OF OFFICIAL RECORDS, BEING LOTS 94 AND 95 AND A PORTION OF LOT 96 OF TRACT NO. 28561, AS PER MAP RECORDED IN BOOK 343 PAGES 15 THROUGH 22, INCLUSIVE OF MAPS, TOGETHER WITH A PORTION OF LETTERED LOT P OF TRACT NO. 28561-1 AS PER MAP RECORDED IN BOOK 323 PAGES 35 THROUGH 49 INCLUSIVE OF MAPS, RECORDS OF SAID COUNTY. MODIFIED LOT 96 AND ADJUSTED LOTS 97 AND 98 AND CHANGED LOT P AS SHOWN ON CERTIFICATE OF COMPLIANCE LOT LINE ADJUSTMENT NO. 2004-397 RECORDED NOVEMBER 2, 2004 AS INSTRUMENT NO. 2004- 0868736 OF OFFICIAL RECORDS, BEING A PORTION OF LOT 96 AND ALL OF LOTS 97 AND 98 OF TRACT NO. 28561, AS PER MAP RECORDED IN BOOK 343 PAGES 15 THROUGH 22, INCLUSIVE OF MAPS, TOGETHER WITH A PORTION OF LETTERED LOT P OF TRACT NO. 28561-1 AS PER MAP RECORDED IN BOOK 323 PAGES 35 THROUGH 49 INCLUSIVE OF MAPS, RECORDS OF SAID COUNTY. EXHIBIT "B-1" "ELEMENTS" ESTIMATED COST OF IMPROVEMENTS AND REQUIRED SECURITY AMOUNTS The following estimates are based upon a cost estimate from Fomotor Engineering, dated November 5, 2021 STREET IMPROVEMENTS: $ 326,397 STORM DRAIN IMPROVEMENTS: 173,700 SUBTOTAL: $ 500,097 PLUS 15% CONTINGENCIES: 75,015 TOTAL: $ 575,112 ROUNDED TOTAL: $ 575,100 WATER IMPROVEMENTS: $ 89,054 SEWER IMPROVEMENTS: 94,020 SUBTOTAL: $ 183,074 PLUS 15% CONTINGENCIES: 27,461 TOTAL: $ 210,535 ROUNDED TOTAL: $ 210,500 GRAND TOTAL: $ 785,600 REQUIRED SECURITIES (Note 1): FAITHFUL PERFORMANCE SECURITY: $ 785,600 LABOR & MATERIALS SECURITY: $ 392,800 WARRANTY SECURITY: $ 78,560 MONUMENTATION CASH SECURITY: $ 5,000 Note 1: Improvement securities to be posted prior to final inspection of release of any single family dwellings. Warranty security to be posted prior to City acceptance of tract improvements or p release of faithful performance or labor and materials securities. ,111111111,, �j/ CAMINO MIRASOL 4 .//. . • Mir.::..- /'7,,,,, „,:, // i, �r� r'd ,, % ,. i ..„.• , .,, ,,..,,,,.,„ ire,a, . ir PASEO DEL SOL 0 jffr r wa:57k W ,1. •'moi .,''/' *111,4,/ 0, , / ,a I/ /.,,,v„,,,,A, - ic, ,,, . ,/, ._.. ,y, 2 , ......-v, ,,,,, ",;,/1 Ili /7..4.4,. , r.;7j1e:. ,,/„*.,,,,,,:„,,.,71 44 ussANpA � _ /�/ / /, ' /r , -"• , ,,,,,,,,,,,-,, ./...,,/,/.� CAMINO 6 /i ! ;. , -- Y/ 4.0%2/ / ��, / , / „Ad.) /../ !j/ /,,, I LEGEND "'' =.17--A NEW STREET , 43) SCALE 1"=200' WagelG g HOMESITES IN ELEMENTS NFiGHRnRHOOD DAY PR£P4iE 11/17/1011 EXHIBIT B-2 ELEMENTS FOMOTOR ENGINEERING 113 S. CMC ORIF SUITE/-4 PAUL SPRWC4 C4, 91161 STREET IMPROVEMENTS PROW:(760)323-1811 at NO J1J-1742 EVAIL;PRILUPOP041070+4COU