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Home My WebLink AboutRecorded Doc 2022-017 2212 - 2022-0271776 06/15/2022 02:26 PM Fee $ 0.00 Page 1 of 4 Recorded in Official Records PLEASE COMPLETE THIS INFORMATION County of Riverside RECORDING REQUESTED BY: Peter Aldana Assessor-County Clerk-Recorder City of Cathedral City ��■, ��I , '�r �,`,��_�,I��-'I III Cit Clerk Ill! 7�r.'alr't�� k*�, AND WHEN RECORDED MAIL TO: 9g City of Cathedral �/ City Clerk's Office S R U PAGE SIZE DA MISC LONG RFD COPY 68-700 Avenida Lalo Guerrero Cathedral City, CA 92234 M A L 465 426 PCOR NCOR SMF NCHG EXAM Exempt from recording fees pursuant to GC Section 6103 and 27383. T. CTY UNI Space above this line for recorder's use only Resolution 2022-25 Title of Document A Resolution of the City Council of the City of Cathedral City Certifying Completion of the Public Improvements in Conditional Use Permit CUP 20-018, and Releasing Improvement Securities. TRA: DTT: THIS PAGE ADDED TO PROVIDE ADEQUATE SPACE FOR RECORDING INFORMATION ($3.00 Additional Recording Fee Applies) ACR 238(Rev.03/2008) RESOLUTION NO. 2022-25 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CATHEDRAL CITY CERTIFYING COMPLETION OF THE PUBLIC IMPROVEMENTS IN CONDITIONAL USE PERMIT CUP 20-018, AND RELEASING IMPROVEMENT AGREEMENT SECURITIES WHEREAS, Conditional Use Permit CUP 20-018 was approved by the Planning Commission of the City of Cathedral City on February 3, 2021, for a commercial hub center development at the southeast corner of Date Palm Drive and Converse Road, to be developed by AG Cathedral City Owners, LLC, a Delaware limited liability company; and WHEREAS, the Cathedral City City Council, on September 29, 2021, entered into an Improvement Agreement with AG Cathedral City Owners, LLC which detailed Developer's obligations to complete certain public improvements, and which secured the completion of those improvements with the following listed corporate surety bonds: For faithful performance: $685,000.00, Bond # LICX1191464 Surety: Lexon Insurance Company For labor and materials: $342,500.00, Bond # LICX1191464 Surety: Lexon Insurance Company WHEREAS, in accordance with the terms of the Improvement Agreement, the Developer has posted a good and sufficient Warranty Bond, in the amount of $68,500.00, to guarantee the public and private improvements against defects in materials and workmanship; and WHEREAS, the Director of Engineering has determined that Developer has completed all public improvements imposed as a condition of approval of Conditional Use Permit CUP 20-018 in accordance with the terms of the Improvement Agreement. The Director of Engineering has further determined that the above listed faithful performance bond may now be released in accordance with the terms of the Improvement Agreement, with the exception of the labor and materials bond and the warranty bond; and WHEREAS, the completed public improvements include the widening and improvement of portions of Date Palm Drive and Converse Road with paving, curb, gutter, sidewalk, parkway improvements driveways bus turn-out and a the relocation and upgrade of a traffic signal at the intersection; and related utility relocations and improvements. NOW, THEREFORE, BE IT RESOLVED, DETERMINED, AND ORDERED BY THE CITY COUNCIL FOR THE CITY OF CATHEDRAL CITY, AS FOLLOWS: Section 1; Acceptance of Public Improvements That pursuant to Sections 4 and 5 of the Improvement Agreement, the City hereby accepts the public improvements to Date Palm Drive and Converse Road. Section 2. Notice of Completion That the Director of Engineering is hereby authorized to prepare and file a Notice of Completion in accordance with the California Civil Code upon adoption of this Resolution. Section 3. Disposition of Improvement Securities A. That the above-described Warranty Bond, in the amount of$68,500.00, covering the approved work, as required by Section 2 of the Improvement Agreement shall be retained for a period of one year from the date of adoption of this Resolution in accordance with Section 9 of the Improvement Agreement. The Director of Engineering is hereby authorized to release said Bond following the expiration of the one-year warranty period, so long as any necessary warranty repairs have been completed to the satisfaction of the Director of Engineering. B. That the improvement securities posted by the Developer in accordance with the Improvement Agreement for Faithful Performance is hereby ordered released. C. That the improvement security posted by the Developer in accordance with the Improvement Agreement for Labor and Materials shall be held for a period of ninety (90) days from the date of recordation of the Notice of Completion in the above Section 2 in accordance with Section 5 of the Improvement Agreement. The Director of Engineering is hereby authorized to release said security following the expiration of the ninety (90) day period, so long as no claims have been filed against the security. Section 4. Effective Date That this Resolution shall take effect upon its adoption. Section 5. Certification That the City Clerk shall certify to the passage and adoption of this Resolution; shall enter the same in the book of original Resolutions of said City; and shall cause a certified copy of the Resolution to be recorded in Official Records by the Riverside County Recorder. PASSED, APPROVED, and ADOPTED at a regular meeting of the City Council for the City of Cathedral City held on this 8th day of June, 2022 by the following vote: Ayes: Councilmembers Gregory, Ross and Carnevale; Mayor Pro Tem Lamb and Mayor Gutierrez Noes: None Absent: None Abstain: N one Ernesto Gutierrez, Mayor City of Cathedral City, California ATTEST: Tracey RUie osillo, CMC City Clerk APPROOV- : • S To -4 gigot Eric S. Vail, City A orney I,Tracey R.Hermosillo,City Clerk,City of Cathedral City,Califomia,do hereby certify under penalty of perjury that the foregoing document is a full,tnie and correct copy of the original document. D1-0' ►3 Tracey R • 7.si .,CMC,City Cleric Date