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12/13/2017 - STAFF REPORTS - 1.T.
�pALAI �7 N t * ~C��MU.TN,S c4`'F°R`''P City Council Staff Report DATE: December 13, 2017 CONSENT CALENDAR SUBJECT: ACCEPTANCE OF PUBLIC IMPROVEMENTS AND AUTHORIZATION TO RELEASE SUBDIVISION IMPROVEMENT SECURITIES FOR "PINNACLE POINT" TRACT MAP NO. 17470 FROM: David H. Ready, City Manager BY: Engineering Services Department SUMMARY On January 16, 1985, the City Council approved Tract Map No. 17470 and a subdivision improvement agreement, subsequently replaced by a new subdivision improvement agreement on November 19, 1999, with Palm Canyon Ranch, a General Partnership. Skyline Development Company, LLC, a California limited liability company, as successor in interest to Palm Canyon Ranch, (Developer), has completed certain required public and private improvements associated with Tract Map 17470. The City Council may accept these improvements as completed and complying with the City's approved plans by authorizing the release of the subdivision improvement securities. RECOMMENDATION: 1. Adopt Resolution No. "A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, CALIFORNIA, AUTHORIZING ACCEPTANCE OF THE SUBDIVISION IMPROVEMENTS ASSOCIATED WITH TRACT MAP 17470 AND AUTHORIZING RELEASE OF SECURITIES REQUIRED BY THE SUBDIVISION IMPROVEMENT AGREEMENT WITH PALM CANYON RANCH, A GENERAL PARTNERSHIP, AND ITS SUCCESSORS IN INTEREST, FOR PROPERTY LOCATED AT THE EASTERLY TERMINUS OF AVENIDA SEVILLA, IN SECTION 36, TOWNSHIP 4 SOUTH, RANGE 4 EAST"; 2. Authorize the City Manager to execute a Request for Full Reconveyance with Original Document Indemnity associated with a Deed of Trust with Assignment of Rents recorded January 3, 2000, as Document No. 2000-000971, records of Riverside County, California, securing completion of the Works of Improvement associated with the Subdivision Improvement Agreement for Tract Map 17470 with Palm Canyon Ranch, a general partnership; and ITEM NO. �' City Council Staff Report December 13, 2017- Page 2 Acceptance of Tract Map 17470 Improvements 3. Authorize the City Manager to execute all necessary documents. BUSINESS PRINCIPAL DISCLOSURE: A search of records available through the Secretary of State of California shows that as of November 21, 2001, Palm Canyon Ranch was dissolved. In 2010 Skyline Development Company, LLC, a California limited liability company, acquired fee title interest to the remaining lots within Tract Map 17470. As successor in interest to Palm Canyon Ranch, Skyline Development Company assumed all of its rights and obligations associated with the Subdivision Improvement Agreement, including the City's recorded Deed of Trust affecting title to Lots 8, 11 and 12 of Tract Map 17470. A search of records available through the Secretary of State of California shows that on November 10, 2009, Articles of Organization were filed for Skyline Development Company, and a corresponding Statement of Information filed on January 11 , 2010, identifying Michael Roberts as the Chief Executive Officer and the one manager or member of it. The latest Statement of Information for Skyline Development Company filed on August 31, 2015, identifies David Gilbert as the Chief Executive Officer, with Jennifer Roberts as the manager or member of it. STAFF ANALYSIS: At its meeting of February 19, 1981, the Development Committee recommended approval of Tentative Tract Map 17470, which was subsequently approved by the City Council, subject to conditions, on January 20, 1982. Tract Map 17470 is located in the Andreas Hills residential area at the easterly terminus of Avenida Sevilla, as shown below in blue outline, and in the Vicinity Map in Figure 1 on the next page. 4' NZ F i •� K fir➢ 9 �1\�� �+-u� f Fk r � •� u:.:�,l• 14'#�'t�. a�?.)\', � � 02 City Council Staff Report December 13, 2017- Page 3 Acceptance of Tract Map 17470 Improvements UR 025 RIB RIB PD RIB RIB IcV40 Legend STONEHEDaE RD ®Ste 500' Site Radius a Zoning Wiwi _SRO Parcels Figure I —Vicinity Map On January 16, 1985, the City Council approved Tract Map 17470 and an associated Subdivision Improvement Agreement, (the "1985 SIA"), with the original developer noted as Jerry B. Epstein, attorney in fact for the property owners. Tract Map 17470 involved a subdivision of 12 single-family residential lots located along one privately maintained street (Adelaar Road), as shown in Figure 2 and included as Attachment 2. Q a City Council Staff Report December 13, 2017- Page 4 Acceptance of Tract Map 17470 Improvements IN THE CITY OF PALM SPRINGS,,CALIFORNIA NOVEMEN - TRACT No. I74 70 �CTONo36.i$...NK..&&a BAIOF ME�M�ESI�A R 30 131 —_ M. __ —` � W Y .n ;W i //// aMr } rewr sux�ror+s x 6 t,r ' ., gr x1 n - - e9st @3 `�F T�,_ cS 1 •c.�.I � ! R, ^..".".u'I�'...'�^.'•'e m� ii� M ✓L COMMON LOT 13TOIS � n _ + H.L.F GD. ORAWAGE CHANNEL —_� TgACT A4,3600 wn.y n, w 41 SANBORN/ WE BB,INC. .Ms. 63/J4?75 M 6 1116AS Figure 2 — Tract No. 17470 Associated with Tract Map 17470 was a requirement to construct certain public and private improvements, including: • On-site private street and storm drainage improvements • On-site public sewer and domestic water system improvements When the City Council approved Tract Map 17470 in 1985, construction of required public and private improvements associated with Tract Map 17470 had not yet been completed; an engineer's estimate at that time of the cost of the improvements to be completed was $362,724. Construction of these public and private improvements were secured pursuant to the terms of the 1985 SIA. Subsequently, on December 1, 1999, by adoption of Resolution 19695, the City Council approved a replacement Subdivision Improvement Agreement with Palm Canyon Ranch, a General Partnership, (the 1999 SIA"), with Palm Canyon Ranch assuming the rights and obligations of the original developer. Pursuant to the 1999 SIA, the original 1985 SIA securities were replaced with a Deed of Trust recorded over Lots 8, 11 and 12 of Tract Map 17470, to secure completion of the public and private improvements, defined by the 1999 SIA as the "Works of Improvement'. A copy of the 1999 SIA and related Deed of Trust is included as Attachment 3. r- , 04 City Council Staff Report December 13, 2017 - Page 5 Acceptance of Tract Map 17470 Improvements Palm Canyon Ranch later sold Tract Map 17470 to other developers that constructed and sold into private ownership 3 of the 12 lots (Lots 4, 5 and 6) between 2005 and 2007; all other lots remain vacant. In April 2010, Skyline Development Company, acquired fee title interest to the remaining vacant lots (Lots 1-3 and 7-12) which also include the 3 lots over which the City has a recorded Deed of Trust to secure completion of the public and private improvements. The Developer has completed construction of the Works of Improvement, and has requested that the City Council accept the improvements and release the Security Instrument in accordance with the terms of the 1999 SIA. On behalf of the City Engineer, the City's Public Works Inspectors have inspected the Works of Improvement and found them to be in accordance with the City's approved plans and specifications, and recommends the City Council accept the improvements and release the Security Instrument in accordance with the 1999 SIA. The mechanism to release the Security Instrument is a Request for Full Reconveyance with Original Document Indemnity of the properties held as recommended by the City Attorney, and included as Attachment 4. The Security Instrument for the Maintenance and Warranty of Improvements will be held by the City Clerk, and released following expiration of the one-year warranty period and confirmation by the City Engineer that no claims of defective improvements have been received. ENVIRONMENTAL IMPACT: Tentative Tract Map 17470 was considered a "Project' pursuant to the California Environmental Quality Act ("CEQA") Guidelines. On January 22, 1985, the City Council adopted Resolution No. 15420, approving the Final Subdivision Map 17470 and accepting the Planning Commissions recommended environmental assessment given in conjunction with Case 5.995-PD-79 adopted by Resolution No. 3362 which recommended approval of the subject tentative tract map and finding the proposed subdivision, together with the provisions for its design and improvement consistent with the General Plan of the City of Palm Springs and would not have had a significant adverse effect on the environment. Acceptance of the public improvements associated with Tract Map 17470 implements the Project as envisioned by Tentative Tract Map 17470, and is therefore consistent with the environmental document previously certified by the City Council, and no further action with regard to CEQA is required. FISCAL IMPACT: The Works of Improvement include both publicly maintained and privately maintained improvements. The public improvements to be accepted and subsequently maintained by the City include the on-site public sewer system improvements. Sufficient funds are budgeted as part of the City's annual fiscal year budget in the Wastewater Enterprise Fund to accommodate maintenance of public sewer improvements. ,. w 05 City Council Staff Report December 13, 2017- Page 6 Acceptance of Tract Map 17470 Improvements Private improvements will be maintained by the Homeowners Association pursuant to the Covenants, Conditions and Restrictions (CC&Rs) recorded against the properties within Tract Map 17470. SUBMITTED Thomas Garcia, P.E. Marcus L. Fuller, MPA, P.E., P.L.S City Engineer Assistant City Manager David H. Ready, City Manager Attachment: 1. Resolution 2. TM 17470 3. Resolution 19695 4. Request for Reconveyance 06 Attachment 1 07 RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, CALIFORNIA, AUTHORIZING ACCEPTANCE OF THE SUBDIVISION IMPROVEMENTS ASSOCIATED WITH TRACT MAP 17470 AND AUTHORIZING RELEASE OF SECURITIES REQUIRED BY THE SUBDIVISION IMPROVEMENT AGREEMENT WITH PALM CANYON RANCH, A GENERAL PARTNERSHIP, AND ITS SUCCESSORS IN INTEREST, FOR PROPERTY LOCATED AT THE EASTERLY TERMINUS OF AVENIDA SEVILLA, IN SECTION 36, TOWNSHIP 4 SOUTH, RANGE 4 EAST WHEREAS, the Development Committee of the City of Palm Springs, at its meeting of February 19, 1981, recommended approval of Tentative Tract Map 17470, subject to conditions; and WHEREAS, the City Council of the City of Palm Springs, at its meeting of January 20, 1982, approved Tentative Tract Map 17470 subject to conditions; and WHEREAS, the City Council of the City of Palm Springs, (hereinafter the "City"), at its meeting of January 16, 1985, approved Tract Map 17470 and a related Subdivision Improvement Agreement, (Agreement No. 2185), with Jerry B. Epstein, Attorney-in-Fact for the property owners, and accepted subdivision improvement securities related thereto as security to ensure performance of certain obligations to complete public and private improvements associated with Tract Map 17470, (the 'Works of Improvement"); and WHEREAS, the City, at its meeting of December 1, 1999, approved a replacement Subdivision Improvement Agreement with Palm Canyon Ranch, a General Partnership, (the "Original Developer"), and substituted subdivision improvement securities originally filed in accordance with Agreement No. 2185 with a Deed of Trust with Assignment of Rents recorded on January 3, 2000, as Document No. 2000-000971, recorded against Lots 8, 11 and 12 of Tract Map 17470, to guarantee completion of the Works of Improvement, (the "Deed of Trust"); and WHEREAS, in April 2010, Skyline Development Company, LLC, a California limited liability company, (the "Successor Developer'), acquired Lots 1 through 3, and Lots 7 through 12, of Tract Map 17470, and assumed the rights and obligations of the Original Developer, including the obligation to complete the Works of Improvement; and WHEREAS, the Successor Developer has completed construction of the Works of Improvement, and has requested that the City to accept the Works of Improvement in accordance with Section 5 of the Subdivision Improvement Agreement; and " " 08 Resolution No. Page 2 WHEREAS, in accordance with Section 2 of the Subdivision Improvement Agreement, the Developer has requested that the City release the Deed of Trust; and WHEREAS, the City Engineer has examined the Works of Improvement, and has found them to be constructed and completed in accordance with the Subdivision Improvement Agreement, and the associated plans and specifications; and WHEREAS, the City Engineer recommends that the City Council accept the Works of Improvement, and authorize the City Manager to execute a Request for Full Reconveyance with Original Document Indemnity associated with the Deed of Trust. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRINGS DOES HEREBY RESOLVE AS FOLLOWS: Section 1. The recitals above are found to be true and correct and constitute the findings of the City Council made in support of this resolution. Section 2. The City Council hereby finds and determines that the Works of Improvement associated with Tract Map 17470 have been completed in accordance with the relevant provisions of the Subdivision Improvement Agreement and the approved plans and specifications, and the City Council hereby accepts the completed Works of Improvements. Section 3. The City Council's acceptance of the Works of Improvement effectuated by this resolution shall not in any way supersede or relieve Skyline Development Company, LLC, a California limited liability company, or its successors and assigns, of any other obligations required by the Subdivision Improvement Agreement or the conditions of approval associated with Tentative Tract Map 17470. Section 4. The City Council's acceptance of the Works of Improvement effectuated by this resolution shall not in any way impose an obligation on the City of Palm Springs to maintain those improvements that are required to be privately maintained by a Homeowners Association through Covenants, Conditions and Restrictions (CC&R's), including the private street associated with Tract Map 17470. Section 4. In accordance with Section 2 of the Subdivision Improvement Agreement, the City Manager is hereby authorized to execute a Request for Full Reconveyance with Original Document Indemnity associated with a Deed of Trust with Assignment of Rents recorded January 3, 2000, as Document No. 2000-000971, records of Riverside County, California, (the "Reconveyance Document"), and the City Clerk shall file the Reconveyance Document with the Riverside County Recorder. Resolution No. Page 3 Section 5. The City Clerk, following adoption of this resolution, shall file with the Riverside County Recorder the Acceptance of the Works of Improvement Certificate attached hereto. ADOPTED THIS 13th day of December, 2017. David H. Ready, City Manager ATTEST: Anthony Mejia, City Clerk CERTIFICATION STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF PALM SPRINGS ) I, ANTHONY MEJIA, City Clerk of the City of Palm Springs, hereby certify that Resolution No. is a full, true and correct copy, and was duly adopted at a regular meeting of the City Council of the City of Palm Springs on December 13, 2017, by the following vote: AYES: NOES: ABSENT: ABSTAIN: Anthony Mejia, City Clerk City of Palm Springs, California `' 1 � Acceptance of the Works of Improvement Certificate follows this page. RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City Clerk City of Palm Springs 3200 E. Tahquitz Canyon Way Palm Springs, CA 92262 SPACE ABOVE THIS LINE FOR RECORDER'S USE Exempt from recording fees under Government Code§6103 Acceptance of the Works of Improvement Certificate Tract Map 17470 Subdivision Improvement Agreement (A2185) The undersigned, City of Palm Springs, a California charter city and municipal corporation, (hereafter the "City"), hereby confirms that on December 13, 2017, the City Council of the City accepted the Works of Improvement associated with Tract Map 17470 to be constructed by or on behalf of Skyline Development Company, LLC, a California limited liability company, (hereafter the "Developer"), as successor in interest to that certain Subdivision Improvement Agreement (A2185) by and between the City and Palm Canyon Ranch, a General Partnership, approved by the City Council on December 1, 1999, (hereafter the "Agreement"). The City hereby releases the Developer from its performance obligations to construct the Works of Improvement as set forth in the Agreement, and hereby releases the Security Instruments filed with the City Clerk pursuant to and in accordance with the Agreement. This Acceptance Certificate is applicable to those Works of Improvement associated with Tract Map 17470, identified as that certain real property more particularly described in Exhibit "A" attached hereto. [SIGNATURES ON NEXT PAGE] ' 12 City of Palm Springs, a California charter city and municipal corporation Dated: David H. Ready, City Manager Attest: Approved as to form: Anthony Mejia Edward Z. Kotkin, City Attorney City Clerk ' 13 EXHIBIT "A" Tract Map No. 17470 filed in the office of the County Recorder, County of Riverside, State of California, on February 20t', 1985, in Book 148 of Maps at Pages 14 through 15. 14 ATTACHMENT 2 IN THE CITY OF PALM SPRINGS, CALIFORNIA 4194r ' of z sNE6Ts � TRACT No. 17470 i A PORTION OF THE SOUTHWEST QUARTER,SECTION 36,T.4S.,R4E, aaR.BM RECOflOEfiS.CE� s NSPI SurNEYORS CERTIFICATE SANBORN / WEBB, INC. "I"°aEM Cf ME Cltt Cf rNll aMN08. 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E PoVP1OLWµ0DINERwXE0.4 NTOIME M-M-F" Am K IH ME &I W OOcSc,,,O ET NTI ME NbII NO MS."FIVE NO ICu'hF. SWE,ONTSON/MTD MEMP'AOIO WO NOT IXEN[LIIle xOER.Ee 1x TIE N51d.xp N+Exn REcaecD w rNE orRcw RLEOCD x RHODA TANANBAUM, mEwx cWm+,cbfaNN w1ro ncourNED^TTE b^NNDDA rNwxewN.A wWN.b ro A OIE-SUM W AINNDT II,I III IM W 1.1 ISSE 3& 11tI 1 I — ®MR•1 I.'IN 1x WCN I.m,rroE II I k1 wV 1.,r WOl xos r.NAE MI114 T + xf N E7 E IN THE CITY OF PALM SPRINGS, CALIFORNIA t' Cam a""P TRACT No. 17470 A PORTION OF THE SOUTHWEST QUARTER, NOVEMER 1984 S N. o: SECTION 36 T4S.,R4E.,S&@8M. 30 N.WOdI aFG.el10.a4r� 1: N Ok�Oer.a MqV UY`� x.E M]6.SlA 1K-1 1.0. 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Nv'InfW 3 kJarweer oare]'aex r / (- 1af1 ` SURVEYORS N ES yb m 0,34 A E� ,em u�trBANS OF EAFON0c$rW\we\erwMpTle Ns{12e 'C / i T.y�.� 1!a'OYOeM / NYIOM1Wr,RLUM p IYYA N ItIYa l6l(IK@Sla p r 8 Q3i AG•. e9 8, // a�$` :� 05 - _- bare f Y / NAxsPo counr.cwwlwa t , } 1F '']: a2 :`a� 3 7 a � �S r �Ops� 7 8 xNlm2a afrlKew\warWwou nN wN W1N ,k n `A3 �9 �„ � `,a Pi •C /1 rvawn lw M.m\1nv•w _... _. _..p SS ll�� s@ at < <rta= a <T. \ _pis F�a1_�,S/ 0. �'��_- .I /1,y _ Dom®IlwNum raw NlmN[ort 3Fs1 • � \ 2 '� '- i. t m f�_Fi4�_�._a'•'�E� .' b`'yJ i o^C,� o2«mw an v!Ir T]rm u n K olos O <w 1 s •�"� Y /�xpai wxola NT N<1�rw c+o]ae 1N�e�m '�y$ - \ �\ ;1 D.Yld/ •'14'-.Y�a /f�Yyetti aal rrxrwFUMao m]2a�rrNcu aNwxa R] 84[3 4~ /p _ o• �� f 3 S ^� �/ �-�'r4 �'^ � /`e/ tR wIN9.lw9!N,iw D11®.IE >6•!�' 1� ` _^ , 3 0 }� .3 ¢� /AI'�/ 4 TwFRf ARF/Ye/eIVAYJ ACREJR/TH/NTNf R 4 w `nC � s `< /C / e O.'3T/NCT/YE LHR01ROf TN/S TRACT e3a, F ti € 3 1^ tz3Dv ?t / uaat sc uooN e•aTaw�- 4�jr1� �^i .�•p et �2i 4C $ ,xow N>xl 2.ov r/ / rtfzwfnnllow �I li i2t l,_ woo L azoo �t ' T 13 t/ rvrm w]Ee ra3wea]xt al ti N.'.N2YM H:,a -��- COMMON IA1w•N.lu D91.p INiFIwO V f LOT / �y� a�Ir es•IN Imes@Max ,eM„ou lmM arlla B 59 AC fLT c,lti,c r..wco - � aM1o.ua ra.n swxz NA/[i TAS y lC elNlla➢N{IaMI //L`.!!Tf/lWf�/NALG ROCK,I T.4S. I_ _ N rlr.a K o•111PL aua re. . p]'•6 �JarJ' D1a a<mweaeN eaNlwNor xw{rt _ TSS. SH•N'JY'!. Y,Afl.,lS' N C.DON 1aN 1{a f2a1ll I.O.p R.C.FC.D, DRAINAGE CHANNEL - ._.I mlMrte cool a]Ip le ra 11e _ 1'�c •ii ifx NIfN .,a ri{�N " :'RA j rLQ 3hc G SANBORN / WEBB INC. W N " SPRINGS, F I M3. 6 9411.9S '» M ATTACHMENT 3 18 RESOLUTION NO. 19695 OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, CALIFORNIA, APPROVING SUBSTITUTION OF SECURITY FOR FINAL MAP NO. 17470 FOR PROPERTY LOCATED AT 1699 AVENIDA SEVILLA, SECTION 36, T 4 S, R 4 E WHEREAS, Subdivider has prepared,filed and recorded a final subdivision map of Tract Map No. 17470 in the City of Palm Springs, County of Riverside, as approved by City; and WHEREAS Subdivider, by said map, has secured the required street and sewer improvements via a Subdivision Improvement Agreement and Letters of Credit; and WHEREAS Subdivider desires to substitute said Letters of Credit with a Deed of Trust using Lots 8, 11, and 12 of said Tract Map No. 17470 as security; and WHEREAS, the total cost of such improvements has been estimated by the City Engineer to be approximately $362,724,00 (including Desert Water Agency Faithful Performance and Labor/Material Bonds) and the combined appraised value of the three lots is $585,000.00 which adequately covers the estimated cost of said Improvements; NOW THEREFORE BE IT RESOLVED that the City Council of the City of Pahn Springs finds that the new Subdivision Improvement Agreement and substitution of Security for Final Map No. 17470 is equitable and accepts said agreement and substitutioq. ADOPTED this 1st day of December 19 99 AYES: Members Hodges, Jones, Oden, Reller-Spurgin and Mayor Kleindienst NOES: None ABSENT: None ATTEST: CITY OF PALM SPRINGS, CALIFORNIA Ciry Clerk City Manager _/. REVIEWED&APPROVED AS TO FORM: G r 19 Orde,.No, DOC fit 2000---000tiJ7 1 t s'rawdNo. 01/03/2000 08:00A Fee:NC 1- Page N�. Official Records Page i of 8 A s Recorded in e County of Riverside Gary L. Orna WHEN RECORDED MAIL TO: Assessor,1 County11 Clerk 11& Recorder Cityity of Palm 2543Springs P Palm Springs, CA 92263 a u rwE ICE cn r:oe � cx sw na sa Attn: City Clerk — �— - - — — �A' t l } r A DEED OF TRUST W1TH'AS e� k SI NNfEI T OF RENTS - (LONG FORM} This DEED OF TRUST, made this ! p N day of ALD M$FR , 19 between PALM CANYON RANCH, a general partnership herein called TRUSTOR. c/o Selzer, Ealy, Hemphill. & Blasdel LLP whoseaddress is 777 E. Tahquitz Canyon Sway, Ste. 328, Palm Springs, California 922 (Number and Street) (Gty) ( fate) FIRST AMERICAN TITLE INSURANCE COMPANY,a California corporation, herein called TRUSTEE, and The CITY OF PALM SPRINGS, a municipal corporation herein called BENEFICIARY, WITNESSETH: That Trustor grants to Trustee in Trust, with Power of Sale, that property in lase Lily of Palm Springs County of Riverside . sm!-- of California, described as: Lots 8, 11 and 12 of Tract 17470, as shown by Map on file in Book 148, of Maps, pages 14 and 15, Records of Riverside County, California, See RIDER TO DEED OF TRUST attached hereto and incorporated herein by reference. together with the rents,issues and profits thereof,subject,however,to the right,power and authority hereinafter given to and conferred upon Beneficiary to collect and apply such rents,issues and profits,for the purpose cf securing(1)pay McRi 6;44 a sw%-ef-6 See FVER W LM)CIF TAM (2) the _ _ performance of each agreement of Trustor incorporated by reference or contained herein and(3)payment of additional sums and interest thereon which may hereafter be loaned to Trustor,or his successors or assigns,wh--n evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust. A. To protect the security of this Deed of Trust, Trustor agrees: (1) To keep said property in good condition and repair; not to remove or demolish any building thereon; to complete or restore promptly and in good and workmanlike manner any building which may be constnxted, damaged or destroyed thereon and to pay when due all claims for labor performed and materials furnished therefor;to comply with all lar+s affecting said property or requiring any alterations or improvements to be made thereon;not to comma or permit waste thereof; not to commit, suffer or permit any act upon said property in violation of law; to cultivate, irrigate,fertilize,fumigate, prune and (continued on reverse side) tt93(i � FaSe 1 Cf cr A �+ 20 do all other acts which from the character or use of said property may be reasonably necessary, the sp! arc eriurnerations herein not excluding the general. (2) To provide, maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to Beneficiary. The amount collected under any fire or other insurance policy may be applied by Beneficiary upon any indebtedness secured hereby and in such order as Beneficiary may determine,or at option of Beneficiary the entire amount so collected or any part thereof may be releasedto Truster.Such application or release shall not cure orwaive any default or notice of default hereunder or invalidate any act done pursuant to such notice. (3) To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee: and to pay all costs and expenses, including cost of evidence of title and attorney's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose-this Deed. (4) To pay: at least ten days before delinquency all taxes and assessments affecting said property, including assessments on appurtenant water stock;when due,all encumbrances,cha-ges end liens,with interest,on said property or any part thereof, which appear to be prior or superior hereto; all costs, fees and expenses of this Trust. Should Truster fail to make any payment or to do any act as herein provided, then Beneficiary or Trustee, but without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof, may: make or do the same in such manner and to such extent as either may deem necessary to protect the security hereof, Beneficiary or Trustee being authorized to enter upon said property for such purposes: appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee;pay,purchase, contest or compromise any encumbrance,charge or lien which in the judgment of either appears to be prior or superior hereto;and, in exercising any such powers, pay necessary expenses, employ counsel and pay his reasonable fees. (5) To pay Immediately and without demarid-all sums so expended by Beneficiary or Trustee,with interest from date of expenditure at the amount allowed by law in effect at the date hereof, and to pay for aiy statement provided for by law In effect at the date hereof regarding the obligation secured hereby any amount demanded by the Beneficiary not to exceed the maximum allowed by law at the time when said statement is demanded. B. it is mutually agreed: (f) That any award of damages in connection with any condemnation for public use of or injury to said property or any part thereof is hereby assigned and shall be paid to Beneficiary who may apply or release such moneys received by him in the same manner and with the same effect as above provided for disposition of proceeds of fire or other insurance. (2) That by accepting payment of any sum secured hereby after its due date,Beneficiary does not waive his right either to require prompt payment when due of all other sums so secured or to declare default for failure so to pay. (3) That at anytime or from time to time,without liability therefor and without notice,upon written request of Beneficiary and presentation of this Deed and said note for endorsement, and without affecting the personal liabi'tty of any person for payment of the indebtedness secured hereby,Trustee may: reconvey any part of said property;consent to the making of any �34, map or plat thereof;join in granting any easement thereon;or join in any extension agreement or any agreement subordinating c w the lien or charge hereof. (4) That upon written request of beneficiary stating that all sums secured hereby have been paid,and upon surrender of this Deed and said note to Trustee for cancellation and retention or other disposition as Trustee in its sole discretion may aam choose and upon payment of its fees,Trustee shall reconvey,without warranty,the property then held hereunder.The recitals In such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The Grantee in such '--�� reconveyance may be described as "the person or persons legally entitled thereto." (5) That as additional security, Trustor hereby gives to and confers upon Beneficiary the right,power and authority, during the continuance of these Trusts,to collect the rents,issues and profits of said property,reserving unto Trustor the right,. priorto any default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, to collect and retain such rents,issues and profits as they become due and payable, Upon any such default, Beneficiary may at any time without notice, either in person,by agent, or by a receiver to be appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured,enter upon and taste possession of said property or any part thereof, in his own name sue for or otherwise collect such rents,issues, and profits, including those past due and unpaid• and apply the same, less costs and expenses of operation and collection, including reasonable attorneys fees,upon any .� indebtedness secured hereby, and in such order as Beneficiary may determine.The entering upon and taking possession of said property,the collection of such rents,issues and profits and the application thereof as aforesaid,shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such nc5ce. (continued on naxT page) 1193(V54 aar,.e 2 21 • (6) ` That upon default by Truster in payment of any indebtedness secured hereby or in performance of any agreement hereunder, Baillefiaiary may declare all sums secured hereby immediately due and payable by delivery to Trustee of written declaration of default and demand for sale and of written notice of default and of election to cause to be sold said property, which notice Trustee shall cause to be filed for record. Beneficiary also shall deposit with Trustee this Deed,said note and all documents evidencing expi nditures secured hereby. After the lapse of such time as may then be required by law following the recordation of said notice of default,and notice of sale having been given as then required by law,Trustee,without demand on Trustor,shall sell said property at the time and place fixed by it in said notice of sale,either as a whole or in separate parcels,and in such order as it may determine,at public auction to the highest bidder for cash in lawful money of the United States, payable at time of save.Trustee may postpone sale of all or any portion of said property by public announcement at such fire and place of sale,and from time to time thereafter may postpone such sale by public announcement at the time fixed by the preceding postponement. Trustee shall deliver to such purchaser its deed conveying the property so sold,but without any covenant or warranty,express or implied.The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof.Any person,including Trustor,Trustee, or Beneficiary as hereinafter defined, may purchase at such save. After deducting all costs,fees and expenses of Trustee and of this Trust, including cost of evidence of title in connection with sale,Trustee shall apply the proceeds of sale to payment of:all sums expended under the terms hereof,not then repaid, with accrued interest at the amount allowed by law in effect at the date hereof; all other sums then secured hereby,, and the remainder, if any, to the person or persons legally entitled thereto. (7) Beneficiary,or any successor in ownership of any indebtedness secured hereby,may f-om time to time,by instrument in writing,substitute a successor or successors to any Trustee named herein or acting hereunder, which instrument,executed by the Beneficiary and duty acknowledged and recorded in the office of the recorder of the county or counties where said property is situated,shall be conclusive proof of proper substitution of such successor Trustee cr Trustees,who shall,without conveyance from the Trustee predecessor, succeed to all its title, estate, rights, powers and duties. Said instrument must contain the name of the original Trustor, Trustee and Beneficiary hereunder, the book and page where this Deed is recorded and the name and address of the new Trustee. (8) That this Deed applies to, inures to the benefit of, and binds at; parties hereto, their heirs, legatees, devisees, administrators,executors,successors and assigns.The term Beneficiary shall mean the owner a.d holder,including pledgees, of the note secured hereby, whether or not named as Beneficiary herein. In this Deed,whenever the context so requires, the masculine gender includes the feminine and(or neuter, and the singular number includes the plural. (9) That Trustee accepts this Trust when this peed, duly executed and acknowledged is made a public record as provided by law, Trustee is not obligated to notify any party hereto of pending sale under any other Deed of Trust or of any action or proceeding in which Trustor, Beneficiary or Trustee shall be a party unless brought by Trustee. The undersigned Trustor requests that a copy of any notice of default and of any notice cf sale hereurder be mailed to him at his address hereinbefore set forth. •ignature of or Signature of Trustor PXM MMVjzk a StMW7Mr&tMV1 GeriTal Farbie STATE OF CALIFORNIA lss. COUNTY`` ,OF on �V3`�Qynnh Ltd t l 1R 1`� before me, u>�,n personalty appeared personally known to ma to be the person(s) wh:;e name(i f is'are•subscribed to the within instrument and acknowledged to me that ha(she4hey,executed the same in his.'herltheir au-crized capacirr(i", and that by hislheq"r signaturets}on the instrument the persons}or the entity upon behalf of which the personte•acted, execut=d the instrument. WITNESS my hand and official seal. •r-�.w.i. JEfBR rTn Signature carrr111111Ion=iiVAlls Mokw Pjjk—Cdtfamo tr f0%Vbtaanet&4A1A 11.2a1 y (continued on reverse,Si 1193(1,14; r4W 08 1 F 0M .Pate 3 G L` DO NOT RECORD REQUEST FOR FULL.RECQNVEYANCE TO FIRST AMERICAN TITLE INSURANCE COMPANY,TRUSTEE; f The undersigned is the legal owner and holdae of the note or notes,and of all other indebtedness secured by the foregoing Deed of Trust,Said note or notes,together with all other indebtedness secured by said deed of Trust,have been fully paid and satisfied;and you are hereby requested and directed,on payment to you of any sums owing to you under the terms of said Deed of Trust,to cancel said note or rates above mentioned, and all other evidences of Indebtedness secured by said Deed of Trust delivered to you herewith,together with the said Deed of Trust,and to reconvey,without warranty,to the parties designated by the terms of said Deed of Trust,all the estate now held by you under the same. Dated Please mall Deed of Trust, Note and Reconveyance to Do not lose or destroy this Deed of Trust OR THE NOTE which it secures. Both must be delivered to the Trustee for cancellatlon before reconveyance will be made. LU Vl y cc o W J Y LL t�tl 5 Vl Q U? 0 r � a � Q) W jf Uj 1i93 0Is"I i Pase 4 of 4 &�� Exhibn"A" L46ALVESCRIPTION 01-2ROPLE11 The propeity is that certain real property in the Cim,of Pubu Springs,County of Riverside,SuAc of California,more particularly described as follows: Lots 8, 11,and 12 of Tract Map,No, 17470,as shown by map on flie in Book, 148,Pages 14 and 15 of Maps,records of the Riverside County Recorder's Office,Riverside County,California. wu 24 f11111111j,'01 2-WO Oft' pt 11 Jill 11111111111111 o 4 of A W RIDER TO Dl,*,VD Of TRUST THIS RIDER TO DEED OF TRUST is attached to and incorporated by reference in that certain Duedol"Trust wi i Assignment of Rents dated#1:iK,!mssj j 1991,: between Palm III " ' ___ k- -t Canyon Ranch, A General Partnership ("Irustor"),First American Title Insurance Company ("Trustee"),and the CITY OF PALM SPRINGS,a municipal corporation("Beneficiary"). I Said deed of trust is hereby modified/supplemented (and as modified/supplemented is hereinz,fter referred to as"this Deed of Trust")in the following particulars only: I Obli j,atL onk Sert gd. The giants,aisigmuenE,and transfers made herein arc piven for the purpose of securing full and timely observance and performance by Trustor of its obligations underthat certain City of Palm Springs Subdivision Improvement Agreement executed concurrently herewith('Subdivision Improvement Agreement"), 2. ReMedie . Trustor hereby agrees that the City's right to enforce any breach of Truster's obligations under the Subdivision Improvement Agreement shall include, but not be limitedio,tire right of the City,its employees,agents,or contractors,to enter upon all or any portion of the Property to remedy any such breach and/or perform any improvement under the Subdivision Improvement Agreementat the expense of'l rusior.Any expense incurred by City in remedying such breach shall be payable by Trustor to City, in a form acceptable to City,within thirty(3)0)days of City's written den-land thereof.Should Trustor fail to pay City such amount as demanded by City within such thirty(30)days,City shall have the right to lien the Property for the amount of the cost of curing such breach of wry provision of the Subdivision Improvement Agreement, plus any additional costs,incurred by City in attempting to recover such costs,including but not limited to, attorneys fees and costs.In addition to any and all other remedies of Beneficiary set forth under this Deed of Trust or permitted at law or in equity,if a default ore-ecut of default under the Deed of Trust shall have,occurred,Beneficiary,to the extent permitted by law and without regard to the value, adecituicy oroceupaticy ofthe security forthe Subdivision Improvement Agreement and other sums secured hereby,shall be entitled as a matter of right if it so elects to the appointment of a receiver to enter upon and take possession of the Property and to collect all rents,income and other benefits thercofand apply the same as any court ofcomfictent j urischetion by ex parte application and without notice,notice of hearing being hereby expressly waived.The expenses,including receiver's fees, attorneys' fees,costs and agent's compensation,incurred pursuant to the power herein contained sliall be secured by this Deed of`Trust.Furtherinture,Trustor specifically acknowledges that certain non-monetary defaults may Occur under this Deed of'I'Tust and in such event, Beneficiary and/or Trustee shall have the right to corrunence foreclosure proceedings based solely upon such non- monetary defaults. 3, \4jagglianco, 3,1 SeverabiAliLv. If any provision ofthis Deed QfTrustor the application hereof to any Person or circumstance shall be invalid or unentorceable to any extent,the remainder of said Deed of Trust and the application of such provisions to other persons or circumstances shall not be effective(hereby and shall be enforced to the extent permitted by law. ,.2 AgamaLg Fees. Should it be necessary for any party to commence an action at law or in equity against the other to enforce the terms of any provision of this Deed of Trust,The prevailing party shall have a right to judgement against the losing pa*,for reasonable attorney's fee,,and costs as set by the court.in the event of nonjudicial foreclosure of this Deed of Trust,Beneficiary shall be entitled to recover its reasonable attorneys,fees and costs,Which shall be deemed secured by this Deed of Trust,from proceeds of the sale and/or a condition to reinstatement of this Deed of Trust. 13 j QM013-11 In the event of any conflict between the terms of this Rider to Deed of Trust and the Deed of"Trust to which this Rider is attached,the terms of this Addendum shall control. I 25 WA AAD Paim Canyon h, eral P e p ` lly: �. Stanley nbaaurt — - — lts:MaWging General P (TRUSTOR MUST HAVE SIGN.ATURF,S NUFARIZED) 26 4 GALIFORNiA ALL.-PURPOSE ACKNOWLEDGMENT !}j State of ia . . �ti _._ c� �(y County of On h,cnair`n 11��t1r5`1.........,......__beforeme, — 1'_rrn4rcn r lie comm�e aye e:ti �; P 9. open 'S " personally appeared r - ttar+e(s;et Sgrwrfs) `F rJ E_ `personally known to me—OR =proved faetflry evideltce to be the person{s)_ t r3 / whose nameN is/afe•subscribed to the within instrument and acknowledged to me that hedshelthey executed the same in his/her4tlielr authorized capacity(ies),and that by ; r his/herAheir signature(e)on the instrument the person(s)—, or the entity upon behalf of which the personaly acted, rEa 09" executed the instrument. '- came ton N 1137AI6 NotaftKtft—CaVOM10 NorsrsfooCaurttr WITNESS my hand and official seal. MV cwnm Expires may 11.2MI d x�� ......�,(31'1hn.r Vas'S„�'L. t\.+..✓"-✓�-"�-'`� 1 o err NAc �J} s: Though the information below is not required by law,it may prove valuable to persons relying on the document and could prevent fraudulent rsmovai snd reattachment of this form to another documon.. 2� i5i Description of Attached Document �j Title or Type of Document: 2k Ti ,,,,„{�, G, y t> "" — t7-1 �`t Number of Pages: �u Document Date:����~i)�,�.tt, � Signer(s)Other Than Named Above: Capacity(ies) Claimed by Signer(s) z g g Si ner's Name: Signer's s Name: , E J individual 7 Individual Sj LJ Corporate Officer L, Corporate Officer Kk; Title(s): Tltte(s): 'C Partner—© Limited 0 General L Partner—'A Limited 73 General k I-] Attorney-in-Fact I F Attorney-in-Fact Trustee ; [7 Trustee 7 Guardian or Conservator `- I t: Guardian or Conservator T of thumb here f Top of thumb here Other_ �� �a �ti Other: � 4 _i'i'1, I \" � Signer Is Representing: ! Signer Is Representing: t, :(,..%L::4 ✓�/�:?..'v i:•tG�'S;iC.�eC>;:r4"�-�u4"a�' }�mF;-'�tdSi4,lw:hi rR=w .�:t;..:iv..:J`t:rC:. ' :.�iC!C%C4.e�'+rrz'w,`4Gln.`!�::!✓`..4 4.%-�, 01995 NO MM NOMN Aswda 0n.8236 Rerrimsl Av ,,P.4.BOX 71e4.CWVA Park,CA 91300,7184 Prat No,5997 Mir a TC1 Fro i-eG0$7&$827 r II!lIII!lIIIlIIII!!IIlIIllllllllllllll11111IIIINISlI st 6 ��tu�r �` � 27 CERTIFICATE OFACCEPTANCE TIIIS IS TO CERTIFY that the interest in real property conveyed by DEED OF TRUST dated: November 19, 1999 from, PkLM CANYON RANCH Trustor, to the City of Palm Springs, California. on this l6th day of December, 1999, pursuant to authority granted by the City Council of said City, by Re-solution No. 19695 made on the Ist day of December, 1999, and the Grantee consents to recordation thereof by the City Clerk, its duly authorized officer. Dated at Palm Springs, California, this 16th day of December, 1999, PATRICIA A. SANDERS City Clerk Rev. 3/98 I�Jjj 1111111 28 Subrliv Impr Agr TR 17470 AGREEMM #2185 R19695, 12-1-99 CITY OF PALM SPRINGS q�.;273 SUBDIVISION IMPROVEMENT AGREEMENT THIS AGREEMENT,made and entered into this rN day of NoVER8�12_ , 199 9 ,by and between Palm Canyon Ranch, a General Partnership, hereinafter collectively referred to as "Subdivider" and CITY OF PALM SPRINGS, a municipal corporation of the State of California, hereinafter referred to as "CITY'; WITNESSETH: WHEREAS, Subdivider has prepared, filed,and recorded a final subdivision trap of Tract Map No. 17470 in the City of Palm Springs, County of Riverside, as approved by City; and WHEREAS, Subdivider, by said map, has secured the required street and sewer improvements via a Subdivision Improvement Agreement and Letters of Credit; and WHEREAS,Subdivider desires to substitute said Letters of Credit with a Deed of Trust using Lots 8, 11, and 12 of said Tract Map No. 17470 as security; and WHEREAS, the total cost of such improvements has been estimated by the City Engineer to be approximately$362,724,00 (inclusive of the Desert Water Agency Faithful Performance and Labor/Material Bonds) ; NOW THEREFORE, IT IS AGREED by and between the parlies hereto as follows; 1. Subdivider, at his sole cost and expense, shall constnict and install the street, drainage, domestic water, sanitaiy sewer and other improvements required to be constructed or agreed to be constructed as a condition precedent to the approval of said final map and acceptance of such streets and easements, as shown on the "Improvement Plans for Tract Map No. 17470", a copy of which is now on file in the office of the City Engineer of the City and which is referred to and incorporated herein as though set forth in full. 2. Subdivider shall execute a Deed of Trust encumbering the property upon which the subdivision map is being recorded, in the form attached hereto, to secure the performance by subdivider of its obligations hereunder.It is hereby agreed that the amount secured by the Deed of Trust is the cost to construct the improvements,which cost is cu Tently estimated to be S362.724.00. Subdivider shall procure for the City, at subdivider's sole cost and expense, an ALTA Lender's Policy of Title Insurance,in a form and content satisfactory to the City,insuring the priority of said Deed of Trust. The City shall reconvey the Deed of Trust upon acceptance by the City of the improvements, the payment by subdivider of any fees and costs necessary to reconvey the Deed of Trust and the Rinnishing of a maintenance bond at the time of the acceptance in the amount of 21 954.94. Said 29 maintenance bond shall remain in effect for a period of one(1)year from date of acceptance of the improvements. 3. Before final approval of street improvements, the Subdivider will place sinvey monnunents in accordance with the provisions of the State Subdivision\lap Act and the Subdivision Ordinance of the City of Palm Springs as shown on the Final Map. The Subdivider, after setting the monuments, shall furnish the City Engineer of the City of Palm Springs, written notice of the setting of monuments and written proof of having paid the engineer or surveyor for the setting of said monuments, or as provided for in the Subdivision Map Act. 4. In accordance with the terms of said subdivision regulation aforesaid,the Subdivider does hereby agree to furnish a good and sufficient bond in the amount of$N/A(included in the total monies for security) to guarantee payment of the cost of setting monuments as stated in Item No. 3 of this agreement. 5. The City Engineer or his duly authorized representative, upon written request of Subdivider, shall inspect the improvements herein agreed to be constructed and installed by Subdivider, and, if determined to be in accordance with the applicable City standards, shall recommend the acceptance of such improvements by the City. b. Subdivider has delivered to city and City has approved plans and specifications and related documents for certain "Works of Improvement" (as hereinafter defined) which are required to be constricted and installed in order to accommodate the development of the property. 7. Subdivider shall perform any changes or alterations in the construction and installation of such improvements required by City,provided that a]I such changes or alterations do not exceed 10 percent of the original total estimated cost of such improvements. 8. Subdivider shall guarantee such improvements for a period of one(1)year following the completion by Subdivider,and acceptance by City,against any defective work or labor done,or defective materials furnished, in the performance of this Subdivision Improvement Agreement by Subdivider and shall repair or replace any such defective work or materials discovered during said one(1) year period. 9. Subdivider shall commence the construction and installation of such improvements within eighteen (18) months from the approval of this amended Subdivision Improvement Agreement and shall complete such construction and installations within nine(9)months from such date of commencement.This Agreemenn is to be considered a part of Platmed Development District No. 79 (PDD 79) and any time extensions applicable to said PDD 79 shall also apply to this Agreement inclusive of the required security for the Works of Improvement. 10. In the event that Subdivider fails to perform any obligation hereunder, Subdivider authorizes City to perform such obligation twenty (20)days after mailing written Notice of Default #3 30 to Subdivider at the address given below, and agrees to pay the entire cost of such performance by City. 11. In the event that Subdivider fails to perform any obligation hereunder, Subdivider agrees to pay all costs and expenses incurred by City in securing performance of any such obligations, including costs of suit and reasonable altomey's fees. 11 Subdivider hereby binds itself, its executors,administrators and assigns, and agrees to indemnify,defend,and hold the City harmless from any losses,claims,demands,actions or causes of action of any nature whatsoever, arising out of or in any way connected with the improvements agreed to be constructed and installed hereunder by the Subdivider, including costs of suit and reasonable attorney's fees. IN u'ITNESS WHEREOF,the parties hereto have executed this Agreement as of the day and year first above written. t SUBaln Can n Ranch, A Gs By: bum Its: Mamying Partner Address: Mr. Stanley Tananbaum C/O Selzer, Ealy, Hemphill & Biasdel, 111' 777 East Tahquitz Canyon Way, Suite 328 Palm Springs, CA 92262 P City Cleric A01 Manager Reviewed and Approved: AP MOVEGby THE-CITY EeQU140L BY RES, NO, • 31 Escrow No. Loan No. t- (/? f-��t , DOC2000-000971 WHEN RECORDED MAIL + Conformed Copy 01/0312ON Gary L orso City of Palm Springs Assessor-County clerk-Recorder P.O. Box 2643 Palm Springs, CA 92263 - ) Attn: City Clerk SPACE ABOVE THIS LINE FOR RECORDERS USE DEED OF TRUST WITH ASSIGNMENT OF RENTS (LONG FORM) This DEED OF TRUST.,made this %N" day of N15V£MSPA , 19 between PALM CANYON RANCH, a general partnership herein called TRUSTOR, c/o Selzer, Ealy, Hemphill & Bla9del LLP whose address Is 777 E. Tahquitz Canyon Way, Ste. 328, Palm Springs, California 922 (Number and Street) (City) tar FIRST AMERICAN TITLE INSURANCE COMPANY,a California corporation,herein called TRUSTEE,and The CITY OF PALM SPRINGS, a municipal corporation ,herein called BENEFICIARY, WITNESSETH:That Trustor grants to Trustee In Trust,with Power of Sale, that property in Cis Cityof Palm Springs Counly of Riverside .State of California.described as: Lots 8, 11 and 12 of Tract 17470, as shown by Map on file in Book 148, of Maps, pages 14 and 15, Records of Riverside County, California. See RIDER TO DEED OF TRUST attached hereto and incorporated herein by reference, together with the rents,Issues and profits thereof,subject,however,lathe right,power and ar-,oriry hereinafter given to and conferred upon Beneficiary to collect and apply such rents,issues and profits,for the purpose of securing(1)pQy,FAQ al ikle avFM Of$ See RILFR 1D®CF T3Pf - . (2) the performance of each agreement atTrustor incorporated by reference or contained herein and(3)paymentof additional sums and Interest thereon which may hereafter be loaned to Trustor,or his successors or assigns,wh=_n evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust. A. To protect the security,of this Deed of Trust,Truster agrees: (1) To keep said property in good condition and repair;not to remove or demolish any building thereon; to complete or restore promptly and in good and workmanlike manner any building which may be conshcted, damaged or destroyed thereon and to pay when due all claims for labor performed and materials furnished therefor;to comply will all laws affecting said property or requiring any alterations or improvements to be made thereon;not to comri or permit waste thereof,,-not to commit,suffer or permit any act upon said property in violation of law;-to cultivate,irrigafe-fertilize,fumigate,prune and (continued on reverse side) rt*tto Ps.t of A Y� 32 do all other acts which from the cloacter or use of said property may be reasonably necessary,the specific enumerations herein not excluding the general. (2) To provide,maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to Beneficiary. The amount collected under any fire or other insurance policy may be applied by Beneficiary upon any indebtedness secured hereby and in such order as Beneficiary may determine,or at option of Beneficiary the entire amount so collected or any part thereof may be released to Trustor,Such application orrelease shall notcure orwaive anydefaultor noticeol default hereunder or invalidate any act done pursuant to such notice. (3) To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee; and to pay ail costs and expenses, including cost of evidence of title and attorney's fees in a reasonable sum,in any such action or proceeding in which Beneficiary or Trustee may appear,and in any suit brought by Beneficiary to foreclose this Deed. (4) To pay: at least ten days before delinquency all taxes and assessments affecting said property, including assessments on appurtenant water stock;when due,all encumbrances,charges and liens,w3h interest,on said property or any part thereat,which appear to be prior or superior hereto; all costs, fees and expenses of[;his Trust. Should Trustor fail to make any payment or to do any act as herein provided,then,Beneficiary or Trustee, but without obligation so to de and without notice to or demand upon Truster and without releasing Trustor from any obligation hereof, may:make or do the same in such manner and to such extent as either may deem necessary to protect the security hereof, Beneficiary or Trustee being authorized to enter upon said properly for such purposes;appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee;pay,purchase,contest or compromise any encumbrance,charge or lien which in the judgment of either appears to be prior or superior hereto;and, in exercising any such powers, pay necessary expenses,employ counsel and pay his reasonable lees. (5) To pay immediately and without demand all sums so expended by Beneficiary or Trustee,with interest from date of expenditure at the amount allowed by law in effect at the date hereof,and to pay for any statement provided for by law In effect at the date hereof regarding the obligation secured hereby any amount demanded by the Beneficiary not to exceed the maximum allowed by law at the time when said statement is demanded. 8, it is mutually agreed, (1) That any award of damages in connection with any condemnation for public use of or injury to said property or any part thereof is hereby assigned and shall be paid to Beneficiary who may apply or release such moneys received by him in the same manner and with the same effect as above provided for disposition of proceeds of fire or ether insurance. (2) That by accepting payment of any sum secured hereby after its due date,Beneficiary does not waive his right either to require prompt payment when due of all other sums so secured or to declare default for failure so to pay. (3) That at anytime or from time to time,without liability thefe'pr and without notice,uPon viritter,request of aeneficiary and presentation of this Deed and sa!d note for endorsement,and witnout affecting the personal liabiltty of any person for payment of the indebtedness secured hereby,Trustee may:reconvey any part of said property;consent to the making of any map or plat thereof;join In granting any easement thereon;orjoin in any extension agreement or any agreement subordinating the lien or charge hereof. (4) That upon written request of beneficiary stating that all sums secured hereby have been paid,and upon surrender of this Deed and said note to Trustee for cancellation and retention or other disposition as Trustee in hs sole discretion may choose and upon payment of its fees,Trustee shall reeonvey,without warranty,the property then held hereunder.The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof,The Grantee in such reconveyance may be described as "the person or persons legally entitled thereto." (5) That as additional security,Trustor hereby gives to and confers upon Beneficiary the right,power and authority, during the continuance of these Trusts,to collect the rents,issues and profits of said property,reserving unto Trustor the right, prior to any default by Trustor in paymentef any indebtedness secured hereby of in performance of any agreement hereunder, to collect and retain such rents,issues and profits as they become due and payable.Upon any such detauit,Benefdary may at any time without notice,either in person,by agent,or by a receiver to be appointed by a court,and without reoard to the adequacy of any security for the indebtedness hereby secured,enter upon and take possession of said property or any par, thereof,in his own name sue for or otherwise collect such rents,issues,and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection,including reasonable attorney's fees,upon any indebtedness secured hereby,and in such order as Beneficiary may determine.The entering upon and taking possession of said property,the collection ofsuch rents,issues and profits and the application thereof as aforesaid,she not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such nc5ce. (continued on next page) „gar tr', PKe 2 of 33 (o) That upon default by Trus payment of any indebtedness secured i0by or in performance of any agreement hereunder, Beneficiary may declaretums secured hereby immediately due and payable by delivery to Trustee of written declaration of default and demand for sale and of written notice of default and of election to cause to be sold said property, which notice Trustee shall cause to be filed for record.Beneficiary also shalt deposit with Trustee this Deed,said note and all documents evidencing expenditures secured hereby. After the lapse of such time as may then be required by law following the recordation of said notice of default,and notice of sale having been given as then required by law,Trustee,without demand on Trustor,shall set!said property at the time and place fixed by it in said notice of sale,either as a whole or in separate parcels,and in such order as it may determine,at public auction to the highest bidder for cash in lawful money of the United States,payahle at time of save.Trustee may postpone sale of all or any portion of said property by public announcement at such time and place of sale,and from time to time thereaLer may postpone such sale by public announcement at the time fixed by the preceding postponement.Trustee shall deliver to such purchaser its deed conveying the property se sold,but without any covenant or warranty,express or implied.The recitals in such deed of any matters orfacts shall be conclusive proof of the truthtulness thereof.Any person,including Truster,Trustee, or Beneficiary as hereinafter defined, may purchase at such sale. After deducting ail costs,fees and expenses of Trustee and of this Trust,including cast of evidence of title in connection with sale,Trustee shall apply the proceeds of sale to payment of:all sums expended under the terms hereof,not then repaid, with accrued interest at the amount allowed by law in effect a'the date hereof;all other sums hen secured hereby;and the remainder, if any,to the person or persons legally entitled thereto. (7) Beneficiary,or any successor in ownership of any indebtedness secured hereby,may from time to time,by instrument in writing,substitute a successor or successors to any Trustee named herein or acting hereunder,which instrument,executed by the Beneficiary and duly acknowledged and recorded in the office of the recorder of the county or counties where said property is situated,shall be conclusive proof of proper substitution of such successor Trustee or Trustees,who shall,without conveyance from the Trustee predecessor, succeed to all its title, estate, rights, powers and duties. Said instrument must contain the name of the original Trustor,Trustee and Beneficiary hereunder,the book and page_where this Deed is recorded and the name and address of the new Trustee. (6) That this Deed applies to, inures to the benefit of, and binds all parties hereto, t`e:r heirs, legatees, devisees, administrators,executors,successors and assigns.Theterm Beneficiary shall mean the owner and holder,including pledgees, of the note secured hereby,whether or not named as Beneficiary herein.In this Deed,whenever the context so requires,the masculine gender includes the feminine and/or neuter,and the singular number includes the plural. (9) That Trustee accepts Cris Trust when this Deed, duly executed and acknowledged,is made a public record as provided by law.Trustee is not obligated to notify any party hereto of pending sale under any other Deed of Trust or of any action or proceeding in which Trustor, Beneficiary or Trustee shall be a parry unless brought by Trustee. The undersigned Truster requests that a copy of any notice of default and of any notice cf sale hereunder be mai:ed to him at his address hereinbefore set forth, ignature of for Signature of Trustor tP!`PALK M a sbail , Gera. Farbrier } STATE OF CALIFORNIA }ss. COUNTY OF g-' } On before me, -7k�ci c;,r��e.c .� personally appeared ,A_'�_Q-T—TC,"g ir)\ I'u,!lr. c] personally known to me (oap�rpd t ,++ ^fe=1, of satistadory iden�o)to be the persor{c;where namets),is af¢subscribed to tre within instrument and acknowledged to me that he4sheA4ep executed the same in his.`.erpheir au:-cazed capacityiWe),and that by hls/harJiNev signatures}on the instrument the persons}or he entity upon behalf of which the personfvv acted,executed the instrument. WITNESS my hand and official seal. .ENNiEe:Bj Signature e.�. Ccrn*Wlan�1137415 ly 1brW REIC—CalmYo T (1T1 1o,&*b917M R1�1,11,2ap) (continued on reverse si Pose 3 0l a 34 Exhibit"A" LEGAL DESCRIPTION OF PROPERTY The property is that certain real property in the City of Palm Springs,County of Riverside,State of California,more particularly described as follows: Lots 8, 11,and 12 of Tract Map No. 17470,as shown by map on file in Book 148,Pages 14 and 15 of Maps,records of the Riverside County Recorder's Office,Riverside County,California. 35 RIDER TO DEED OF TRUST THIS RIDER TO DEED OF TRUST is attached to and incorporated by reference in that certain Deed of Trust with Assignment of Rents datedhfayemsE I , 1991 , between Palm Canyon Ranch, A General Partnership ("Trustor"),First American Title Insurance Company ("Trustee"),and the CITY OF PALM SPRINGS,a municipal corporation("Beneficiary"). Said deed of trust is hereby modified/suppiemented (and as modified/supplemented is hereinafter referred to as"this Deed of Trust")in the following particulars only: 1. Obligations Secured. The grants,assignments and transfers made herein are given for the purpose of securing ful I and timely observance and performance by Trustor of its obligations under that certain City of Palm Springs Subdivision Improvement Agreement executed concurrently herewith("Subdivision Improvement Agreement"). 2. Remedies. Trustor hereby agrees that the City's right to enforce any breach of Trustor's obligations under the Subdivision Improvement Agreement shall include, but not be limited to,the right of the City,its employees,agents,or contractors,to enter upon all or any portion of the Property to remedy any such breach and/or perform any improvement under the Subdivision Improvement Agreement at the expense of Trustor.Any expense incurred by City in remedying such breach shall be payable by Trustor to City,in a form acceptable to City,within thirty(30)days of City's written demand thereof. Should Trustor fail to pay City such amount as demanded by City within such thirty(30)days,City shall have the right to lien the Property for the amount of the cost of curing such breach of any provision of the Subdivision Improvement Agreement, plus any additional costs,incurred by City in attempting to recover such costs,including but not limited to, attorneys fees and costs.In addition to any and all other remedies of Beneficiary set forth under this Deed of Trust or permitted at law or in equity,if a default or event of default under the Deed of Trust shall have occurred, Beneficiary,to the extent permitted by law and without regard to the value, adequacy or occupancy of the security for the Subdivision Improvement Agreement and other sums secured hereby,shall be entitled as a matter of right if it so elects to the appointment of a receiver to enter upon and take possession of the Property and to collect at[rents,income and other benefits thereof and apply the same as any court of competentjurisdietion by ex parte application and without notice,notice of hearing being hereby expressly waived.The expenses,including receiver's fees, attorneys' fees,costs and agent's compensation, incurred pursuant to the power herein contained shall be secured by this Deed of Trust.Furthermore,Trustor specifically acknowledges that certain non-monetary defaults may occur under this Deed of Trust and in such event, Beneficiary and/or Trustee shall have the right to commence foreclosure proceedings based solely upon such non- monetary defaults, 3. Miscellaneous. 3.1 Severability. If any provision of this Deed of Trust or the application hereof to any person or circumstance shall be invalid or unenforceable to any extent,the remainder of said Deed of Trust and the application of such provisions to other persons or circumstances shall not be effective thereby and shall be enforced to the extent permitted by law. 3.2 Attorney's Fees. Should it be necessary for any party to commence an action at law or in equity against the other to enforce the terms of any provision of this Deed of Trust,the prevailing party shall have a right to judgement against the losing party for reasonable attorney's fees and costs as set by the court.In the event of nonjudicial foreclosure of this Deed of Trust,Beneficiary shall be entitled to recover its reasonable attorneys fees and costs,which shall be deemed secured by this Deed of Trust,from proceeds of the sale and/or a condition to reinstatement of this Deed of Trust, 3.3 Conflict. In the event of any conflict between the terms of this Rider to Deed of Trust and the Deed of Trust to which this Rider is attached,the terms of this Addendum shall control. 1 00 36 • G *fAD PalAGeneral Zilneip By: Its: "Trustor" (TRUSTOR MUST HAVE SIGNATURES NOTARIZED) 2 37 CALIFORNIA ALL•PURAE ACKNOWLEDGMENT • State of _�Cy�,�ru ,Z I County of On 1`5, `5T% before me, r Oate � Name ana➢Re of OM1eer to 4 'Jane oea,Vdary�u9c•; 1 personally appeared `� Nama{al a synegs> `personally known tome-OR be the person{ca, ` whose name( is<efesubscribed to the within instrument and acknowledged to me that he/shW444ey executed the same in hislhe54he r authorized capacity(k*,and that by his/h@h%aeir signature(p)on the instrument the person(sr- or the entity upon behalf of which the person(s�acted, t c ar+oa��� executed the instrument. 51 yNokay Pjbk r WITNESS my hand and officiat seal. Nr corr.n rwYee Nor n.7m1 � 9gna:'Jre al Notary P�hly O T7 NAL Though the intormat(cn below is not required by ta#,,it may p e valuable to persons relying op the document ano could prevent FS }y fraudulent removal and reattachment of this farm to another document. �, 1 Description of Attached Document I TSo Title or Type of Document: r y 1' Document Data: 111� Number of Pages'. K Slgner(s)Other Than Named Above: Capacity(lets) Claimed by Signer(s) Signer's Name:;:J��Q � Signer's Name. ❑ Indlviduai ❑ Individual ❑ Corporate Officer ` ❑ Corporate Officer 7itfe(s): i Title(s): Partner—❑Limited ❑General I ❑ Partner—O Limited ❑General ❑ Attorney-in-Fact ❑ Attorney-in-Fact ❑ Trustee ❑ Trustee _ ❑ Guardian or Conservator ❑ Guardian or Conservator Other: j�]Q..pg�);pg_ Top or mumb here ❑ Other: Top of fnurnb le, Signer Is Representing: ( ` Signer Is Representing: 01995 Na%gal Notary Assovalbe•8236 nemmelAva,P.0 a ez)164•Ca,w,Palk CA913P})'N P.No 5K7 r ITOIFrea 1-8ME16-6627 38 CERTIFICATE OF ACCEPTANCE THIS IS TO CERTIFY that the interest in real property conveyed by DEED OF TRUST dated: November 19, 1999 from, PALM CANYON RANCH Trustor, to the City of Palm Springs, California, on this 16th day of December, 1999, pursuant to authority granted by the City Council of said City, by Resolution No. 19695 made on the 1st day of December, 1999, and the Grantee consents to recordation thereof by the City Clerk, its duly authorised officer. Dated at Palm Springs, California, this 16th day of December, 1999. PATRICIA A, SANDERS City Cleric Rev. 3/98 39 Jerry B. >;psteiu, Atty id xact Subdiv Impr Agr for Tr 17470 AGREEMENT #2185 (Orig 1-31-85) CITY OF PALM SPRINGS signed by CM 1-31-85 SUBDIVISION IMPROVEMENT AGREE r THIS AGREEMENT, made and entered in to this 5/f� of tvc,U ✓ 19'r'� by and between JERRY B. EPSTEIN ATTORNLY fl! &T hereinafter collectively referred to as "Subdivider" and CITY OF PALM SPR NGS, a municipal corporation of the State of California, hereinafter referred to as "CITY"; WITNESSETH: WHEREAS, Subdivider has prepared and filed a final subdivision map of Tract No. 17470 in the City of Palm Springs, County of Riverside, for approval Ly City; anti WHEREAS, as a condition precedent to the approval of said map by City, Sub- divider is required to offer For dedication those parcels of land intended for streets , highways and other public use, and also to construct and install or agree to construct and install certain improvements; and WHEREAS, Subdivider, by said map, has offered for dedication to City for public use the streets and easements shown on said map; and WHEREAS, City desires to accept the streets and easements shown on said map for public use, and certain other such improvements; and W;•-EIZEAS, as a condition precedent to the acceptance of the dedication of such streets and easements by City, Subdivider is required to enter into an agreement with the City to construct certain improvements; and I WHEREAS, the total cost of such i ,p � e��nts has been estimated by the City Engineer tc De approximately $ 17 ,✓ir�8�• NOW, THEREFORE, IT IS AGREED by and between the parties hereto as follows: I . Subdivider, at his sole cost and expense, shall construct and install the street, drainage, domestic water, sanitary sewer and other improvements required to be constructed or agreed to be constructed as a condition precedent to the approval of said final map and ac ept nc f such streets and easements, as shown 'on the "Improvement Plans for lor�c 7W 11, a copy of which is now on file in the office of the City Engineer of the City and which is referred to and incorporated herein as though set forth in full . 2. Subdivider shall furnish to City good and sufficient bonds executed by a corporation authorized to transact surety businessljLp�ttfn� SS ate of California on forms approved h City, one bond in the sum of $ 84�•0 t a rg0 the faithful performance of this Agreement, and one bond in the sum of �6, �d to assure payment of the cost of the labor and materials for the improve ents required to be constructed or installed hereby. Both of said bonds shall be deemed exonerated upon acceptance by the City of the improvements. The developer shall furnish a maintenance bond at the;time of execution of this agreement in the amount of $ 25,972.00 which shall remain in effect for a period of one year from date of acceptance of the improve- ments. 3. Before final approval of street improvements, the subdivider will place survey monumerts in accordance with the provisions of the State Subdivision Map Act and the Subdivision Ordinance of the City of Palm Springs as shown om the Tract Map. The Subdivider, after setting the monuments, shall furnish the City Engineer of the City of Palm Springs, written notice of the setting said monuments and written procf of having paid the engineer or surveyor for the setting of said monuments, or as provided for in the Subdivision Map Act. v 40 Subdivision Improvement Agreement Page 2 4. In accordance with the terms of said subdivision regulatioh aforesaid, the subdiv'de� dp0e� h�reby agree to furnish a good and sufficient bond in the m l a ount of $ U 0 to guarantee payment of the cost of setting monuments as stated in Item No. 2 of this agreement, 5. The City Engineer or his duly authorized representative, upon written request of Subdivider, shall inspect the improvements herein agreed to be con- structed and installed by Subdivider, and, if determined to he in accordance with the applicable City standards, shall recommend the acceptance of such improvements by the City. 6. Subdivider shall complete such improvement plans including any correc- tions and revisions thereto necessary to comply with the applicable. City standards as determined by the City Engineer, within thirty (30) days after approval of the final map. 7. Subdivider shall perform any changes or alterations in the construc- tion and installation of such improvements required by City, provided that all such changes or alterations do not exceed 10 percent of the original total estimated cost of such improvements. 8. Subdivider shall guarantee such improvements for a period bf one year following tie completion by Subdivider, and acceptance by City, against any defective work or labor done, or defective materials furnished, in the performance of this Subdivision Improvement Agreement by Subdivider and shall repair or replace any such defective work or materials discovered during said one year period. 9. Subdivider shall commence the construction and installation of such improvements within thirty (30) days from the approval of such "Improvement Plans for Tract 17470 " by the City Engineer, and shall' complete such construction and installations within nine (9) months from such date of commencement. 10. In the event that Subdivider fails to perform any obligation hereunder, Subdivider authorizes City to perform such obligation twenty (20) In after mailing written Notice of Default to Subdivider at the address given below, and agrees to pay the entire cost of such performance by City. 11 . In the event that Subdivider fails to perform any obligation hereunder, Subdivider agrees to pay all costs and expenses incurred by City in' securing performance of such obligations, including costs of suit and reasonable attorney's fees. 12. Subdivider hereby binds itself, its executors, administrators and assigns, and agrees to indemnify, defend, and hold the City harmless from any losses, claims, demands, actions or causes of action of any nature ;whatsoever, arising out of or in any way connected with the improvements agreed to be constructed and installed hereunder by the Subdivider, including costs of suit and reasonable attorney's fees. 41 Subdivision Improvement Agreement Page 3 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 2SUBD By: c/o Best , Best & Krieger (WGE) ' 600 E. Tahquitz-McCallum Way Address Palm Springs , CA 92262 City CITY OF PALM SPRINGS, CALIFORNIA i L/ City Cleq 'City Manager REVIEWED & APPROVED ..7L i STATE OF CALIFORNIA ) ) as. COUNTY OF RIVERSIDE ) On this the 15th day of January, 1985 , before me, the undersigned Notary Public, personally appeared JERRY B. EPSTEIN, Attorney-in-Fact for Bernard Adelaar, Maurice Adelaar and Kaye Adelaar, The Adelaar Family Partnership, Florence Levine and David T. Goldstick, Trustees under the Last Will and Testament of Martin Tananbaum, in Trust for Minnie Lee Tananbaum, Florence Levine and David T. Goldstick as Trustees under the Last Will and Testament of Martin Tananbaum, in Trust for Barbara Levy (nee Barbara Eve Tananbaum) , Stanley Tananbaum and Doris Tananbaum and Ruts Tananbaum, known to me or proved to me on the basis of satisfactory evidence to be the person who executed the within instrument on behalf of the individuals therein named, and he acknowledged to me or proved to me on the basis of satisfactory evidence to be the person who executed the within instrument as the Attorney-in-Fact cf said individuals, and on behalf of said individuals , said acknowledged to me that he subscribed his own name as Attorney-in Fact, and that such individuals executed the same. WITNESS iny and and official seal. „ s OF7ICIAL SEAL a ti A A STflNAR7 NO7AR72Y PU 4U 7Li[ U.ORNIA 4 I ai' Rr�Pi s o�cour rr �" a1vPAY comre. expires APR 3% 1085 AGREEMENT AMENDING SUBDIVISION IMPROVEMENT AGREEMENT THIS AGREEMENT is entered into by and between the City of Palm Springs , a municipal corporation (the "City") and BERNARD ADELAAR, MAURICE ADELAAR and KAYE ADELAAR, THE ADELAAR FAMILY PARTNERSHIP, FLORENCE LEVINE and DAVID T. GOLDSTICK, Trustees under the Last Will and Testament of MARTIN TANANBAUM, in Trust for MINNIE LEE TANANBAUM, FLORENCE LEVINE and DAVID T. GOLDSTICK, as Trustees under the Last Will and Testament of MARTIN TANAN- BAUM, in Trust for BARBARA LEVY (nee BARBARA EVE 'TANANBAUM) , STANLEY TANANBAUM and DORIS TANANBAUM and RUTA TANANBAUM (collec- tively the "Subdivider") , with reference to the following: WHEREAS, the City Council of the City and Subdivider have entered into that certain Subdivision Improvement Agreement dated _:31 , 198s- ("said Agreement") , an executed copy of which is attached hereto and incorporated herein by this refer- ence, under the terms of which Subdivider agrees to install and complete certain designated public improvements in Tract 17470 ; and WHEREAS, Subdivider is required under the terms and condi- tions of said Agreement to provide bonds to secure (a) the faith- ful performance of the terms and conditions of said Agreement; (b) the payment of the cost of labor and materials for improve- ments required to be constructed or installed thereunder; and (c) the payment of the cost of setting monuments , as stated in said Agreement. NOW, THEREFORE, the parties agree that in satisfaction of all of the obligations under said Agreement to provide those cer- tain bonds as set forth in said Agreement, Subdivider shall and does hereby transfer, grant and assign the following Certificates of Deposit to the City: (a) a Certificate of Deposit issued by Santa Monica Bank in, the sum of One Hundred Seventy Two Thousand Eight Hun- dred Forty-eight Dollars ($172 , 848) , for the purpose of securing Subdivider' s performance of all the terms and conditions of said Agreement; (b) a Certificate of Deposit issued by Santa Monica. Bank in -the sum of Eighty Six Thousand Pour Hundred Twenty-four Dollars ($86 ,424) for the purpose of securing Subdivid- er' s payment to the engineer, contractor, its subcon- tractors and the persons renting equipment or furnishing 43 - • i labor or materials to them for the improvements provided in said Agreement; and (c) a Certificate of Deposit issued by Santa Monica Bank in the sum of Eleven Thousand Dollars ($11 ,000) for the purpose of securing the faithful performance for the setting of survey monuments in accordance with the pro- visions of Sections 11566 and 11592 of the Subdivision Map Act. and Article 963 of the Subdivision ordinance of the City of Palm Springs and as shown on the Tract Map for Tract 17470 . The parties agree that the Certificates of Deposit hereby transferred, or any funds payable thereon, are to be held by the City in trust for the sole purpose of guaranteeing Subdividers performance or payment to the City of the above-described obliga- tions as set forth in said Agreement and any alteration thereof made as therein provided, in the event of default by Subdivider. The funds represented by the Certificates of Deposit, and any interest thereon, shall be released by the City to Subdivider upon Subdivider' s satisfaction of their obligations as set forth under the terms and conditions of said Agreement. The parties further agree that any interest payable or paid under the terms of the Certificates of Deposit, copies of which is attached hereto as Exhibits "A" , "B" and "C" , shall be the sole and separate property of Subdivider and the City shall not apply or use said interest, or any part thereof, for the purposes herein set forth. The parties further acknowledge and agree that Subdivider shall have the right at any time during the term of said Agree- ment to secure the performance of said Agreement by substituting Letters of Credit or Bonds for the Certificates of Deposit herein described so long as said Letters of Credit or Bonds are in amounts equal to the face amounts of the Certificates of Deposit and are issued by an institution approved by the City, and are in a form acceptable to the City. This Agreement shall bind and inure to the benefit of the respective parties , their successors , personal representatives and assigns. 44 -2- DEOAA/Eps1/1-15-85/bl 0 IN WITNESS WHEREOF, the parties hereto have executed this Agreement at Palm Springs, California, on the date or dates shown below. SUBDIVIDER: Date: I IS 1985 By: ERRY B. EP STATE OF CALIFORNIA ) ss . COUNTY OF RIVERSIDE ) On this the 15th day of January, 1985 , before me, the undersigned Notary Public , personally appeared JERRY B. EPSTEIN, Attorney-in-Fact for Bernard Adelaar, Maurice Adelaar and Kaye Adelaar, The Adelaar Family Partnership, Florence Levine and David T. Goldstick, Trustees under the Last Will and Testament of Martin Tananbaum, in Trust for Minnie Lee Tananbaum, Florence Levine and David T. Goldstick as Trustees under the Last Will and Testament of Martin Tananbaum, in Trust for Barbara Levy (nee Barbara Eve Tananbaum) , Stanley Tananbaum and Doris Tananbaum and Ruta Tananbaum, known to me or proved to me on the basis of satisfactory evidence to be the person who executed the within instrument on behalf of the individuals therein named, and he acknowledged to me or proved to me on the basis of satisfactory evidence to be the person who executed the within instrument as the Attorney-in-Fact of said individuals , and on behalf of said individuals, said acknowledged to me that he subscribed his own name as Attorney-in Fact, and that such individuals executed the same. WITNESS my hand and official seal . OFFICIAL Sam, fUDITH A STE1IVART v' NOTARY PUBLIC- C.LLIFJRNIA RIVE"NOr CHIN Y P:1y comet, e;zpiras MR '0, 1936 CITY ATTORNEY, CITY OF PALM SPRINGS By: / U 45 -3- DEOAA/Epsl/1-15-85/bl Santa (Va BankNON NECOTu6LE-riOMTFAN3FERAH E ,CUST NO/TYPE `�00/4 1251 Fourth Street .. SINGLE MATURITY - CERTIFICATE OF nEPOSIT 1Q1631 Santa:Monica,";CA f .lanaary'14 ,s85 **** :CITY OF TALM SPRINGS *** PSfHAV�rE OEFOSI 6V•EQ)N THtS AK ONE HUNDRED SEVENTY TWO TROUSA� 7QLLARt S,;'1/Z. 84s.00 a� a PAYABLE TO ��** Same At Above UPON MATURITY AMC) PRESCNTATION AND SURRENDER OF THIS CERTIFICATE,PROP ERLY ENDORSED, AT'T��H�EE'I OFFICE OF ISSUE-THIS CERTIFICATE MATURES_ 3D Dd�,S (2-13-85) FAOM DATE 04,M BEARS INTEREST..AT.THE RATE OF_ Z_e�L�L_°.a PE R ANNUM FROM, j DATE LNTIL MATUR)TY, THIS CERTIFICATE EARNS.,h INTEREST AFTER MATURIYV 1Y Mq'Y NOT BE WITHDRAWN PRIOR TO MATURITY U INLESS SUBS TANTIAL INTE HEST IS FAO A FEI TE O.IN TE R.FST PAY ABt E- []MONTHLY QUAFVTrRLY AT MATURtTy_ .HOLD : ' j / /u7 y.; is - •'� 1�`V LC--Y C•.I - '. 1, I ' II FOR BANK t�SH ONLY ma AU HORIZED SIGNATURE I .Fn 11' 10163Lill 1: SIIL1110CL0i: 46 � r "�1k = 1" 1 NOfI-rEEGOT(�1HLE-N(1[YTRArySrERAQ4E CU57 N0/TYPE 230074f 1J12'1Y51 Fourth Stret SINGLE MATURITY CERTIFICATEOF•DEPOSIT �fll,63 Santa Monica,' CA Jariiiary t4 a 85 ** CITY YIF PALM SPRINGS HASIHAVE O�POSITELT tN THt5.,8RNK; *** FTAHIV tTX11402SAND OUR RNDRED DDLLYF255 � a?a_rm TWENTY FOUR PAYARI.E TO � 'k* SAME AS ABOVE, ** - UPCIN MATURITY AND PFRESE%TATION AND �SURRENDER OF THIS CERTIFICATE,PROPERLY ENDORSED AT THE OFFICE OF ISSUE.THIS CER71FtCATE MATURES-- 30 Days (2-13-85) _FROM DATE ANO BEARS INTEREST AT.FHE RATE OF. 7-50 %PER ANNCM FROM DATE UNTII. MATU F.ITY, THIS CERTI FICAtE EARNS NO jN7EAES7 AFT6,9 MATURITY IT MAY•aVOT BE WITHDRAWN PRIOR TO MATURITY -I 1� I UN LESS SU 85 T,4NTIAL INTEREST ES yFORFEIFE6 INTEREST PAYAE.LE �MON7HLY .QUARTER LY �ATMAi URETY TOLD !I k g FOR SANK USE ONLY '., . . .. AU HORlTED SIGNATURE - - - I i� II■ 10163 ZII■ a: 5 L L I.-loo Loi: u •..�' NON INEG nABLM- 10 N-TR ANSPERA81Z 'GUST N V/T I PG L30074/065 ..� Swit-aMcxntaBank SINGLE MATURITY 1251 4th ST EFITIFICATE.OF DEPOSIT 1 SANTA h10NICA, ;CA 9640 y �lANIIARY it[�,9R * * *.**THE CITY t F PALM,SPRINGS* HAS/HAVE D_POS[TED IN THIS.BANK . 14, A ***U:anO Q[1*** PAYABLETo '•*-* * * *THE CITY OF PAUJ SPRINGS* `'- UPON MATURITY AND PRESENTATION AND SURRENDER OF THIS CERTIFICATE,PROPERLY ENDORSED,"AT THE OFFICE OF ISEUE.THISS'- CERTIFICATE MATURES 30. DAYS (2-13-85) F.FROM DATE AND BEARS INTEREST AT THE RATE OF 7.50 %PER ANNUM FROM DATE UNTIL MATURITY, THIS CERTIFICATE EARNS,fJD INTEREST AFTFR MATURITN, VT MAY-.NOT BE WITHDRAWN PRIOR TO MATURITY` -UNLESSSUBSTANTIAL INTERESTI$FORFEITF;D INTEFI,ESTPA.VABCE ❑MONTHLY �OUA.RTERLY �, ATMATURITY.fiOE(J' 'el FOR BANK USE ONLY ZL AUT F ZEDSIGNATURE 11' 10 LP, 33110 1: 5iiis-00 L0i: 48 1 � I r.4 ;JJ 0 `rA � Flnt lntcralalc Bonk coo #;j In natimia v�InternationaDsmn 6ox 54191 Bank Los Angeles,Cal,torn a 9O054 Q[J`-R NTJ,'X'NJ'' U P¢gM I1'HEVOCA Lli IOILMVl!TA3Y GREDIT n,,v uunEo cn�roRNi a a w+x Cable Address FICA LQANK Telez No,674421 :< =La Cl,' B.NP, DikTL'' O:N ISSTJE: PVT AND PIr C:4 0_^' E PIB.Y: '�. LDS r_u_h'•BILES; GL�' 'Li 1337 1D I<'EE 1`✓ ti AT 5'.I.i?.C. ,LUS 9Nf:'�:'L 'S _- M -� Af'LI"A'HT'• h N!' H'iCIA j JLPRY 3. EPSTFIN CTTI OF D TLh .I.PFfNGS, C 9'I"1f�P'!`I 'irlN—AAC'P a MT61%101PAl. COII"JFA`VI(JN 4201 VIA !"11hIP?.q 320G `E1A:J013TT7 N�C�A.LLiiFI YiP.Y' T hlA9IN'A t L IiEY YPLh? SPft2!`1i=S ,_ � CAT,I'PO'R;VIA 9025`1 CALI1-10 '?IA 9Z2Z2 r AD7ISIhtt: „AJ'4: Al0LltfT; USU17r, V )1KY0T ON i{D it1DEND QDYYPTY r"HO 'THOUSANIJ 411 FIJ.HT _YCH11 FIu _T RED ;iNI'TEL STAT'+'S LOLLAdS s� 10 GR.LDI'P AVAIL" 31,F ivlTfi: c'23ST 7NT'r3fSTjl'V r JDANY DT' CALIFOrNTr'_, A = BY: I'AYMT•,MT, AGAINST PTEESI;iv'i'A1'IO!v O.F` '1-HE ':O C'Ol`7ERN'!'S r M R 01RArT9 AT SIGLIT D,4-101 0^! FII'S'1 el IRTEPS^_!1'J.'E BANG OF CALIT0'gMIk, 1,0: 01UELF'S J s 1— YOU?. DATED S1' llii',EPJm, IPdllICAT.ISIG SIG[-1LI' PY T 7 :DLNJ:.r:'i'Ot 0_n" COh]!IJvI`.t'Y y T,FH_r,OPfI!T, T OJ! THE CITY OF PALM SPEINGS, it MUNICIPAL 003:r,RATION CITki.'.' � ( T'CY ) , Crl 'T'IF'�IJO� LNA' JZR T "- ML` MI'!, A_lT'O%4R" III—;'kCJ: r_ 4 SUFDIvIDEa ), 'iA5 601 tEti n.Fj?l7!D At „G L'LVC ` O PFP P ''�11i a !D CCNDITIONS OF T7AT CERTAIN �{SJbDIJISIOV if1Y�OtilShliP'.I C� ,[MI't`'1 ;AT^1` �� s; JAoUATRf 16,1E8`7 T4: P'Nr K!ft'' N rlliJ, \'ITS' AND StiErTVID kR ikPJr THAT 'l'}Et' Ar!Oi7id^A !?R!.'.�If UI;D_fk E'Iti,nT IIYTLh'ST'ATF 'hAPI'i "OJ! 'T,:75' 6lNG1.1.'.::i ? LETTI, OF C:?IL'IT HCI BER I 885 t, IS PiOty OUE AND :PrixfDLN. MOMENTS PIi SEW121 IiEPECTwj)Ett DUST ACC`OMPSNY T1 Y; OEIUII`li'T OF Tt?TS 1C, L I,ETTRER OL ar 4s 4 1 TF1,x UMI Y ISSUE T.tIS DCuUmENT�A'RY CREDIT I!4 YCOH Ph.UOh. I l 1.5 U iJF'i - P.J {� t r�� ORi: CUSTCMS AND PRACTICE ZIC3 DO( U ENTARI GiE:'ITa (10�5 R , 1310b17 , Iie'T'EP,WAT'IONAL ULkMPER OH C'OM� tQL, PAWS, 'M`Rt!NCE PC='�ITGATION n10. A-r)m Hlci) EiViAC}LS 'OS Ihl g1;h:OA,7tL!'CI `.1ITH T31 T BMS 'i EA'F:OF T_'i: J IC;Ak,Y A 1pl JATE OI TRY; CP.DI'T AMI TEE N,',ME, 01" Clih !iAII `1US E :UCTED ON L 1-RATTS IF 'i >✓ C_R1;DIT 1= AVJIILA:i1LF' BY PJPC;.OZ IA2'IuN ElA t rt YRT'Sti'1V ri FTION !W°"' b><; 1>'UUTi,',-r err,' ll ,I n 4 ,>• t tl'.,('� S 1 OP TVE RIVIRSE DP TEI.S A1tIr1' : Y 1H;t BBNi 1.3'a,ti R�J,I'f' IS .4VP.IL'a. 1��. psi 3 3� �c a4 is t5 11 yr.t ✓s: or141 " 74 ' lAUT'Q1.ZEP yIGNA:APE ARnJRZED SIGNATURE V E ~ �1 49 ��" `. 'fit` "• �, �.., .. ...Wv`, "'y >�1," �•. � ..., .. .. .. ,.�..,, .., `, ., .,,; ...4 NOTE: Presentation(s) to hemarked on the hack of the original L/C only. DATEOF AMOUNTIN FIGURES _ PRESENTATION AMOUNT IN WORDS -- NAME,STA�AP AND SIGNATURE OF THE 6AI\I'IC I .1*IM.:y'{�. Avr,Ae, yy • First Interstate Sank y of Californ is 1 3,? Int ern atonal p,vis,on yy ,� First Interstate Bex 54191 - a? Qd�lk Los Angeles,Cal,forma 90054 conn1Ea r1ua s=o cn1,rnmnenNr Ca Address: i4 FI CACAL6ANK Telex No,674421 11v11 119�i r Ci�I ti. klll°i kl'-ji :.--2:i�:.lO nl rS` I'I'T ;I_L "J-1l� eY .L 1)� k.11,:i r �.0 L'."_' 2;7:..`. r M� r .I' . x. 'tiU.'! CI*;!:Fi LLU;' Ci l.Y >7 • T_I`.I Plt1 fiJ;? Y.i_- S L;' S a 1J.Lti 157 4ivI' lr T .i fih N!h°1_,,I„ iq L I _ I L('- Lr.Ek3'i' a, _s �LL7',bJ _V j C�J, '1 T1:1lt,1.L� i.- 0ja l_ T_'lilit°;S eiuL Cu lUl'i'lb,':S _Fir'i I'i9 l.l:,lt;r:ap;il.l(C. a� 31 e 6 .r 0 ` 'i v %1 saayy a� it 'x IC�,,`�1 P L C(.Y'101C f r �X L T 7 Y sd nurry P,;co.sieti rune nurirowCco siCrvnnfae i }T NOTE: Presentation(s) to be marked on the bads of the original L/C only. DATE OF AMOUNT IN FIGURES NAME,STAMP AND SIGNATURE OF THE BANK PRESENTATION AMOUNT IN WORDS i i I I- 52 ,�.�..,a�...a�.,a1'r�..�;3'�r�.�a''�..a�u:.,�.a�.:u�.,.��,�,�'r.,,a�'F,�'�,�.,alw.,�.�k.a"'r ��,�F..,�'�.aw. (�.,'F�'F•.ar�.,,�'�.�'f.,�'�„��t=. Fim lm.miam SmIk Hmatio is p Box Division �� �l�tlM�'-S�IM4J51S" Box 5d191 mg 8��� Los Angeles CaLlorma 9005.4 CT.iY J•. _4 1 `� - l7c FOWJEq LY UNiTEOG9l.iJ0RNIP pRNK Cable Addr.w 'T �fh' 11 o1111y1�f1�1'/�AIJL I�F���l\lrl �G : - FICA LIDANK Telex No.674421 1 P RL VOC A.I)1/_J 2J li l L N I ll1 l l c t FLACF AND DATT' OF ISSM ' DAT LvD YLAC9; 01 LXYI'tY LOS S,vrFLl'S , <k FE 19��!j 5 N'L'E 1"dM A'1' A 14 4,, APP I; ANi': 5E'wz'310IA.R'Y: I " JEI13Y 2. EPS'1-LIN CITY 09 PALm SPRINGS, L : Y �� AT`SQRN.2Y-Ili-F,ku7: A rliilvlC;IPALL :;aP,PDF,A'PIa:V gy 12c,1 T1A NIA:dINA R. T'A.HCIITZ.1.1CU'ALLUh": 'AfAY a MARINA DEL RE" YALi'I SPRINGS � 0 GL US6,s2,i s:u F•IGtf_Y SI1 TEMA-INE OH,, HUNllNS'D P n TWENTY 01M AND UNIT D STA'I'LS $6 T sy ORLI IT AVPILE_:IIL !BITE: 'k'IRSI IdlTP ;RSTR1 Ci11IPORNIA, 1A r Y: iQLY OI'IATI ON', AG-11NS PRLSLIv'I'11TI011, Oi!' '?,NE, LOCI?I°irnl'rS DETAILED xER_?;IN AND T-1 YOUR il;M'TS An` SIGhT LRAWW U?v FI.RST IiVT.U,STA.T1., bANZ O:p' t;ALIF'ORtdIA, LOS H C!Gi',L:GS i; SY ,G T ii J It: ii r T 1T +i 4�, 1- YUi,g L. I .J SiAlEiiFlY�l , Iv�i?C1.1LvG SIl•>tirD PS 1llRi i..I�LUtOu O;' CUt1MUivTIz' =y �y DLV2.6'02 tN1 0Z IY.H LI'0Y 0]!' PALI°I SP,VINCTS, A M'0N1 ;!P L GOP+PCHATIUII ( i`nl_ 9 v T t I d -PLAY b E STEIN , TTO-tI 'Y T i.GT I% t ; a u til I �:: T ( �1�'nLIu FAS NOT 111ND h` P11117h7N^_ TO TUD SGIi!Ll,?, U07VTaACTOR,�!IS 01 NTH � l'OIiS I)i LRSL1�S RuN':II G E1WTPl9:,N'P OR iMMISIiIN . 10.P02 OR P+y'Ii,i<I},LS T'0 'P.H ii �U's 'Pq7 IiIiP:OVLIvE '1' SST OI16D I1. THAT uh'TA.IIV SI�DIdISI!il�' IMI V_NIF7v1' - U ir,,lm CA'7;LD J'AYVTA Y - ,1 e5"� 3"t A.N� • k,.1L'.�Ji0 TP CITY A.01) SJBDIVI-"R,R PN1L TbAT TPP 1 A X 0 N T DR.., N rND'n )'TRST ?S TL.T" 4N I-r 0'N' I!LIFO 11 NIA. LOS ASG'B138 LETT Eh Ur' s1;RL91T L.+JvIBhR 4: I23L4h9 IS PIOq; Ji{UL Al-J PAT AliL ill , - ^' DOC1J 'E TS PRAS&NIT 1) HT,11UiTINLFV NUST AC;0hFA9yY 'PHh 021GINhL OL' THIS �. s 4 WPL }-1 RKv ISSUR T'D.IS DOcum-ATARY URKIT IN YOUR PA-Hii. IT IS 5U-kJLC`I' 20 dY UA1if0E!1 tUST0i1S ttP�D P-XAL TIGE PUE. LOUD&NTLRY CREDITS (1C93 R2'4IS10'.0, INTER CSA`?Ltt? O-I,_ UQHM"RuE, PA:RIS, FRA.i'?'.;f' rUr-It'v`i'IOp; NO. 41i7 AND r� :aGn7 S G'S Ill AJCO!'DANOL VIT-H `PIIF T!Lt115 T uiFOF hr� Nu�rL' L AND 'LIlTR 0h "'PC CO;L'I'P ANU PHL NAM°I! CI' OUa 3iNL MUST BE QUOTLU ON ?T_), RAFTS F.1:.?G'IRNi1) IS EVA.ILA ;hE GY ULGGTI_ATION LAOH k'P,iST-!NTA:f1OK N1IIST Di QUO'iLiJ (M TI1L UJtl';RSII OF 'IIIS A.D9I0'E' 2Y THE ti_,v pit(r.1.F 'P.9'3 C 1'1 IS AV'AILA�Ly. tiT*Y: Jan:Y.:1::r%r%• a� a� .Lv rr I;g ak a i r s� V, < i 53 ',•� ICY: zti a y r. j" uTNCPi$ED SiGNP:DRE Al1THDR'.ZE0914NATNRE NOTE Presentations) to'be marked on the back of the origirial L/C only. DATE OF __ AMOUNT IN FIGURES NAME.STAMP AND SIGNATURE OF THE 6ANK PRESENTATION AMOUNT IN WORDS � 1 i ,ve.I'll.ill Av,ayr.,�..��..,iw..,'v�'a.;��:.�;F..I I I ':` • Firs¢1if..i ata®ank �� Firstof California 7 0 yy 80.1nrc 541iarlel Division �flfle'FS$ate Bax 54797 Bank Los Angeles,Cahforma 90054 eairunircocnvvoarra RAkv Cahie Add FICA LEAN K Telez N o,6 74421 >,rsj - i".i l:U{°;i;I';'I'P'•'Y G`f;Sil 11'. - ?� 01 °y LIO,NT ,,li!CI. F is Al L-Pi..'Y� I 14-iNS n "IUIiICI�I -U- vLi STl�I. T ' �r.1 h111 I'°k IP'L oini� 4•. I '��4LI5'! IV(ly[ ll., h,r�i 3 hI`Y ;. L1_ tiw311.11. i 31Li7;tEdIa 4Ss'_y1 L;oil' Iu i 5 4I51„C I ,i_. li '_ .P'i). 17113 y,°.$ ,t'C Is -6 rJP:a'I yip N,6,d `[.:: V Is i Ll ,il'I 2 Vi.l! '.i i1 w_!'t)-14 ;r IJvjt CF,uL'IT 15 911ji: 1'r QtlS vil i,1J;I`I'Y j'n'1'71J 1` P,r. S'f. f!I.L O1j'11.6;' I`t:.iI`iB hill ::U(11'I'plilj'JS !'iH k,q Fj 11_V LI IP'.a SiL l'l!.'i�'Sl. Y a� 61 F IC. IS ✓y } �I n ��IlJ i h1i L�IJ�iY.> .� 1'.'. .. 1'�L`::J_1C✓'!i.j�1 VfV G �Q 1 Y� �y �oaizE wharui+E '.ALA`/ AurrowzEo�GvnruaE L �fis NOTE: Presentationls) to be marked on the back of the original L/C only. DATE OF AMOUNT IN FIGURES NAME,STAMP ANDSIGNATURE OF THE BANK PRESENTATION AMOUNT IN WORDS _ i I ' 56 &„01.01.4 A"In.AZ! °r ,sa-.�Y'"r.,� _ First Intaratate Bznk -'• ee •of Calitomia International Olvislon Box 54191 Los Angeles,calltnm'a 90054 OUR NUMBER I-29852 r 'ORWRLV JN'790 CA4'OR NIP BAVK C.bl.Add,.5 IJRkEVOCABLL DOu DMENTARY CAELIT ^5'• FICALBANK Telex No.674421 PLACE AiVD DATE OF ISSUE: DATE AND .FLA C'L Or „YPIRY: li05 ANGELES , 20 F'E:9 1936 15 1i15'? i9c-u IT 11.1.:?•.C.,LOS ANGFOl!-S �nl ra APPLICANT: tEfiEc'ICI.IHY: J-en B. EPSTEIN, CITY 03' PALM SPRINGS, L ' ' ATTORNEY IN YAOT A MUNICIPAL CORPORATION, {< ;y 42'41 VIA MARINA, E. 'PAAUUIT'2 MCCALL'GMi WAY, Oars N&PINA D711 1'3Y PIP,LM SPRINGS, CALIFORNIA 9220-2 CALIFORNIA 90291 - y ALlTSING RANT A'mO'URT: US'D11,0OO.k,'Fi .� DIREC`P ELEVEN TL05AND AND O0/100 UNITlED <.' STAT4jS DOLLARS rt C_YDIT AVAiILA�L-; 'rJFTI:: VIRS ' ]NTERSTA141 BA,Ydi OF CALIPORNITA, LA : e BY: PAYMENT A3AI,'NST PRESENTATION OF ThE DCCUPLilis DETAILF,D LI±'RE•I!'1 AND OF ZA YOUR IJRA?TS FIRST �y INTL'RSTATI. 201Y Or' CALIFORNIA, LOS ,4 ANL-�`Lr,S y ITY >5 ✓r< 1- YOUR DATP;D STATEMENT.INDICATING SIGri;:D BY T?E DIPL'CT'OP 0Y COM11-ij DEVELUPi7DPIlC 0A' 1%-V ( iTTY O'E PALM SPRINGS, A MDi6ICIPAL CUR:OPATION ( '1'Hi CITY") , GERTIFYI.NG TBhT JER_?Y B. L'PSTEIN, A'1'TO_R.N.LY-IN-F'AC'1 '� ( SUI3DIVT1: }2' ), tiAS NOT h,bD_t '�AYMLNT TO TR-2' :•3NuIb!EEll 0' SULV'PYOT _0_R. _ �y `YTTING SURVI`' MONUNLNTS IN SJCURDANCX VIT rF-Z '1'01vis ANO CONDITIONS 01 rlNJiT JL iAl�l SUcLIT_1116IJN INl15.OVEm i'"1 ACBEFII'FNT LATXD JAIIU9EY ell lv,l i5 , BY _',dD a 14LEN `_2iE UITY END °UNL'Iv1 Nt A.WD 1HA1' THE AlIO N1' � LRA101 (1NP1P FI7�T I14TEI1 STA1TR L•Alvh 01 CALIFORNIA, D•US ANGELE'S, LETTER Ur t;rLI71'1 i11i15ll=,. I28252, IS NOVI DUE, ANll PAYABLE, c h� UCCUMBkTS PFLSE•NTEL HEBs(RvDER NUS'T '5E ACCOMPANIED rY TTIE ORIGINAL OF IBIS L-ITTER Of, C'R 1)IT. r� lilt H1'1P.EB'Y ISSOE TE'IS DOCO:MLeNTARY CREDIT. L'V YOUR FAYOP. IT IS SUBJLCT TO T,EE UBIITC:RM CUSTOMS, 01D P-HACTICE FOR DOCAI'1i;NTARY CREDITS (1983 HE'GISION) , INTERNATIONAL CHAMBER OP COMMERCE, -PARIS, KiANCF P0r1ICA'1I3N NO. 404j AND r EI3GA".T�:S US IN VITE TJ.E 'TL lI,1S TRE,DADY. TRL NOVIKTZ A-ND DATE OF 'PEE CREDIT AND THE NAME OF OUR PAINK MUST Y_E QUOT31) ON 81L IIRA21S R QUIREI). F, TIP 'I'h'E CRiDI1' IS AVAILAELE 131 NI(LO'TIATION EACR PRESENTATION MUST ?;'L' 41UOTE:D ON T1_4E GI PHIS ADiIC2 ??Y T'BP BANK 'aRL'VL THE J'1:LDI1' IS AVAILA'SSlE. s Y sT`i �,• .fin lv S l N ,fy l�'l i a,G �/ ( i.� kM�Rf�.. ..�'\.n�ir4L�i�J1 Y___' ._.�'— ✓� i OR 2ED<GNAI.RE AIPnOn ED SGNtiJnE 57 � NOTE: P,esenlationlsl to be marked on the back of the original L/C only. DATE OF AMOUNT INI,FIGURES NAME,STAMP-AND SIGNATHRE OF THE BANK PRESENTATION AMOUNT IN WORDS 58 ."0`r.,.3F'r..IV..:0.r,.&...0,�n,aIYF"`]"rc.Ili,..�i1V'rr.,RYY�<„ Nr„�F'r..�.,.�.,.-iPr�.�J'Q..i"F.-40.11.3111I tiFr.;V.,All A.,.:.A-1Al1A.,3YF".4.,,)f'rr�1 FIESt Interstate Bsnk T of Da{iiornie IIWW r+� Box ©cx 5anona:Division s: 54197 Bank Los Angeles,Calitonla 90054 ,stir ron nrnc-wlreo cAuroavie sAw. ^able Atldress; Iti'.LC�LI rN:I' 'I A'.yi 1 '�.'�.' °ji i PICALBANIC Telex NO,6744e KI %`� L!P,`L'b (7+' flF"I]5� b11li1`aT• 1= 1';i� .L�_ 1,' b Hld'u1� S. :,i 'i�' 1�J ^a'�'II�AD'91a 11VJi1�Ja19."Ya � A jElU n'f 11 ,L.1'Y I NrtL''1' T 'd. YUNIi;yrk.G Ct,�t'L r'1'1I!� f � rt -U 'EvI GrIN'71 Kii OF 11Ht PH0Ir A0ill I11d 111 1',.., h:P` u.:.:H1',.]:' s i"v 10 IrJ:r,HcLt'ti t 1:Jc?. .SLi G'1'i%.'s't: ` 15ti;•c, \L :D :L'_ '_CP-.S EC'15111jd u1\ J-i!('L:G'L. ✓4 i io � hr 9'" ____________________--��� I ALIVISI 'S Lh(j47 Tt; ILIJfJ r +56 A ' t 4 ON i � r l �4_ 59 0 AVTIGRIZE.srnATTlA AJTHDHIz=J SIGNAUSE �rf l� +M1IA �tn1a m( �]�C �[ }(� �',C �}�. ,IV TV� ..�,,.,��..,�...A�..� .. ..� ..+Jfi'�h, 7-0b'Il�ii� HF;..17f':;h`��2�'ltl''`:.\`_'j'Iyi� _Yk' 'w m 27310 _, 10 I NOTE: Presentations) [o be marked on the back of the original L/C oniy. DATE OF AMOUNT IN FIGURES NAME,STAMP AND SIGNATURE OF THE BANK PRESENTATION AMOUNT IN WORDS i i i 60 RECORDING REQUESTED BY AND WHEN RECORDED, RETURN TO- R, 14@. BEST, BEST & KRIEGER (DEO) FED 1 21985 P .O. Box 2710 Palm Springs , CA 92263 CITY OF PALM SPRING ENGINEF-RING SPECIAL POWER OF ATTORNEY Estate of BERNARD ADELAAR, Deceased, by ROBERT W. BERNARD, Administrator With Will Annexed, Riverside County Probate File No. INDIO 6796; 14AURICE ADELAAR and KAY ADELAAR, husband and wife as joint tenants ; ADELAAR FAMILY PARTNERSHIP; FLORENCE LEVINE and DAVID T. GOLDSTICK, as Trustees under the Last Will and Testament of MARTIN TANANBAUM, in trust for MINNIE LEE TANANBAUM; FLORENCE LEVINE. and DAVID T. GOLDSTICK, as Trustees under the Last Will and Testament of MARTIN TANANBAUM, in trust for BARBARA LEVI (nee Barbara Eve Tananbaum) ; STANLEY TANANBAUM and DORIS TANANBAUM, husband and wife as joint tenants , and RHODA TANANBAUM, all as owners of that certain real property located in the City of Palm Springs , County of Riverside, State of California, more particularly described in Exhibit "A" attached hereto (the "Property") , hereby jointly and severally appoint and ratify JERRY B. EPSTEIN of Los Angeles , California, as their true and lawful attorney-in-fact to act in their place, stead and name for the purpose of executing subdivision maps , zoning applications , subdivision imp- ovenent agreements , security agreements and instruments , and to enter into such other agreements or do such other acts , including, but not limited to, encumbering the Property, as the City of Palm Springs or any other governmental unit, or any lending, bonding or 61 other financial institution may require in order to obtain and record a final subdivision map for Tract No. 17470 on and for the Property. Said attorney shall have full authority to act in any manner appropriate and necessary to the foregoing powers and, by executing this Power of Attorney, the undersigned hereby ratify all actions already taken by said attorney which are consistent with the authority and powers herein granted, includ- ing, but not limited to, executing the final subdivision map for Tract No. 17470 and the Subdivision Improvement Agreement with the City of Palm Springs. DATED: AURICE ADELAAR DATED: /lIJ7 Ly %K Cc�-cri7� KAY AD„ELAAR DATED: / 1 r- ADELAAR AMILY PA RTNERSHIP� Byrw� DATED: LEVINE DATED: DAVID T. GOL As Trustees under the Last Will and Testament of MARTIN TANANBAUM, in trust for MINNIE LEE TANANBAUM 1 . 62 -2- , f DATED; FL?,R ff CF LEVINE DATED: f �"' /'� DAVID T. GO DSTICK As Trustees under the Last Will and Testament of MARTIN TANANB S in trust ox ARBARA LEVI ( e Barbara ve T nanbaum) i DATED: STANLE TAN B UM' DAZED: J / � yU�� '1'ANAN$AUM DATED: RHODA TANANBAUM LEig�-4 a1f a RHODA TANANBAUM DATED: �( - (2" C,) , (j,�O-, ,, / 12 A . ROBERT W.! BERNARD, Administrator With Will- Annexed for the Estate of BERNARD ADELAAR, Riverside County Probate File No . INDIO 6796 63 -3- EXHIBIT G1 F r f DESCRIPTION; 1N THE STATE OF CALIFORNIA, COUNTY OF RIVERSIDE, CITY OF PALM SPRINGS, {DESCRIBED AS FOLLOWS : PARCEL 1 = THE SOUTH HALF OF THE SOUTHWEST QUARTER OF THE SOUTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 36, TOWNSHIP 4 SOUTH, RANGE 4 EAST , SAN BERNARDINO BASE AND MERIDIAN; EXCEPTING TO THE UNITED STATES ALL OIL, GAS AND OTHER MINERAL OEPOSITSt IN THE LAND 50 PATENTED, TOGETHER WITH THE RIGHT TO PROSPECT FOR, MINE, REMOVE THE SAME, ACCORDING TO THE PROVISION OF SAID ACT OF JUNE 1 , 1936 AS RESERVED IN PATENT RECORDED AUGUST . 311 19SI IN BOOK 1Z99 PAGE 186 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. PARCEL 2= THE EAST HALF OF THE NORTH HALF OF THE SOUTHWEST QUARTER OF THE SOUTHWEST WUARIEk OF 1HE 50UIHWESI OUAR [ER OF SECTION J6r TOWNSHIP 4 SOUTH, RANGE 4 EAST, SAN BERNARDINO BASE AND MERIDIAN; EXCEPTING TO THE UNITED STATESP ALL COAL, OIL, GAS AND OTHER M1NEh'AL OLFUS11SY IN ] HE LAND SU PATENIEU, IOL;ETHER WITH THE RIGHT TO PROSPECT FOR, MINE AND REMOVE THE SAME ACCORDING TO THE PROVISIONS OF SAID ACT OF JUNE 1 , 1730 AS RESERVED IN PATENT , RECORDED JULY . 3, 1956 1N BOO�C 1937 PACE 333 OF OFFICIAL RECORDS OF RIVERSIOE •COUNTY, CALIFORNIA. PARCEL_3_ THE WEST HALF OF THE SOUTHEAST QUARTER OF THE SOUTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 36o TOWNSHIP 4 SOUTH, RANGE 4 EAST, SAN BERNARDINO BASE AND MERIDIAN; EXCEPTING TO THE UNITED STATES ALL OIL, GAS AND OTHER MINERAL D1=POSITS, 1N THE LAND SO PATENTED , TOGETHER WITH THE RIGHT TO PROSPECT FOR, MINE AND REMOVE THE SAME ACCORDING TO THE PROVISION OF SAID ACT OF JUNE 1 , 1938 , AS RESERVED IN PATENT RECORDE❑ MAY 14 , 1957 1N BOOK 2067 PAGE 253 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA . •6 4 } STATE OF CALIF RNIA `a COUNTY OF fU�,2-S(� } V ,before me,the undersigned,a Notary Public in and for v said State,personally appeared Robert W. Bernard, Administrator With Will Annexed for the Estate of Bernard Adelaar, Riverside County Probate File No. INDIO 6796 E C personally known to me(nr proved to me on the basis of satis- fac;oryevide.'ce)tohetheperson(s)whosename(s)is/aresub- OFFICIAL SEAL ascribed to the within instrument and acknowledged to me that ; • JUp1TH A STEINART he/she/they executed the same. _ ;` NOTARY PUBL,'C - CALIFORNIA � RIYEF;,iuE COCIriTf WITNESS my hand and official seal. fly corona. expir s APR 30, 1986 0 0 m Signature ' (This area for official notarial seal) i Stateof Florida Onthisthe4th da of February 85 Y 19� before me, � S5. COUntyof Palm Beach Marion W. LaMott , the undersigned Notary Public,personally appeared RHODA TALANAAIN "j CX personally known to me ❑ proved to me on the basis of satisfactory evidence to be the person(s)whose name(s) i G —subscri bed to the within Instrument,and acknowledged that __,She executed it. WITNESS my hand and offici seal. /'/ TARP VOUBLIC STATE OF FLORIDA CONNISSION EXP. NOY 25,1987 Notary's Signature GEN ERAI.ACKNOWLEDGMENT FORM 7110052 NATIONAL NOTARY ASSOCIA7ION•23012Venlura BlYd.,wuodland Hills,GA91364 State of On this the day of 19 t�s, before me, S 1 c . County of 1'CK V to , _ O the undersigned Notary Public,personally appeared Notary Pcbfic, c`e; cf P!eei York t;o. 0?;`t�_ 7pai•7 QuuI1Ged In p:sens C• unty — MAURTCE ADELAAR Commisslan Ezp!reo Nlsl cif 30, 1835 ❑ personally known to me proved to me on the basis of satisfactory evidence to be the person(s)whose names) is subscribed to the within instrument,and acknowledged that he executed it. WITNESS y hand and official seal. Notary's nature GENERAL ACKNOW_EOC M ENT FORM 7110052 NATnNA1 NMTARYACC 01,-inn, oamw n State of C On this the 1�J da 191C before me, County of , VCK w'102F73 the undersigned Notary Public,personally appeared Na-,ary Public, "E,e of i:_w York No.01',r' < ca!K7 QLI.811 ed In Ou_c-ns County DORIS TANANBAUM Commisslon E Piras 6arch'1J, 1985 L_ personally known to me proved to me on the basis of satisfactory evidence to be the person(s)whose name(s) lS subscribed to the within instrument,and acknowledged that _ ,she executed it. WITNESS y han and o fi ial seal. Notary's gnature GENERA_AC{NOWLEDGMENTFORM 7110052 NATIONAL NO TARYASSOCIATION•23312Venty:a Blvd•Woadlanc Hills.CA 91364 ..0 State of ___.. On thi th JO` day 19jtE before me, SS. County of .TACK kNEIC 4�G the undersig d Notary Public, personally appeared Notary Public, ct,ye cf Now York NO 01;`"`' -1`7 STANLEY TAP4ANBAUM �7ualified In QJI0115 County , �iOMill n Expires mEI L;o, ;ggg / �_✓ personally known to me ❑ proved to me on the basis of satisfactory evidence to be the person(s)whose names) is subscribed to the within instrument,and acknowledged that he executed it. WITNESS m and and offi al seal. ti Notary's Sig ture GENERAL ACKNOWLEDGMENT i 7!10052 NATIONALNOTARYASSOCIATION•22012 Ventura Blvd •WoadlandWs.CA 91364 State of On-1bisthe day of qt6) re me, cS,County of _ Ft 44,0 the undersigned Notary Public,personally appeare LL IT JACK kArFi,BEpn and DAVID T. QOLDSTICK, as Trustees ast W11 Notary Pu,lic,Stcte of��lsw York and Testament of MARTIN TANANLALM, i BA. ND. 0 Ee,,C4i,'7 1�'ua!�ifao in Cuc�cs Gc-y nee ara e anal alIDl Cominlssior,6;;.Iroc i.: 5 ❑ ersonally known to me proved to me on the basis of satisfactory evide to be the person(s)whose name(s) are to the within instrument,and acknowledged that thted it. WITNE my`land and official eal. Notary' ignature 6 GENERALACKNOWLEDGM ENT FORM 7110052 NATIONALNOTARYASSOCI.ATION•23012 Venlura Blvd -Woodland Hills CA913G4 State of _ On this th �day of 19-if before me, County of the undersigned Notary Public, personally appeared FLORENCE LEVINI, hD.�ry FLnI =::v rlc and DAVID T. QJLDSTICK, as Trustees raider the Last Wil &J. and Testament of PLA CIN TANAP EAlM in trust for MIIZU C ersonally known to me �- proved to me on the basis of satisfactory evidence to be the person(s)whose name(s) ;;r-e subscribed to the i within instrument,and acknowledged that they executed it. WITNESS y hand nd official seal. IJ Notary's Si natu e GENERALACKN0WLEDGMEN7 F0RM 7110052 NATIONAL NOTARY ASSOCIATION•23012 Venluia 9NC •'Awdland Hies,CA9�3b4 77 State of ��/ _ On this the day of before me, County of �� ✓force_ � SS. -�GY �C'/-J� the undersigned Notary Public, personally appeared RICHARD ADELAAR (ADE.7.W VAXILY PAR NERSHIP) personally known to me ❑ proved to me on the basis of satisfactory evidence to be the person(s)who executed the within instrument on behalf of the JOSLIPH QUINONES partnership,and acknowledged to me that the partnership executed it. Notary Pu .f State of New Y§rft WITNESS m hand and official seal. No.Sri Kings Co Y �ualffl in Kings C6Ur1ty Commission Expires March 30,lc'*12( f/ Notary' gnat PARTNERSHP ACKNOWLEDGMENT FORM 7130052 NATIONALNOTAHv ASSOCIATION•23012Van1ura Blvd.•Woodland H.Ils.CA91364 State of _ On this the 001 day of 19 ,before me, County of etf the undersign Notary Public,personally appeared JACK Notary Fui!Ic, .rle at Mew York KAY ADELAAR Qualifi=J in Qtcars C�„-,ty Cornlniss,on s plres Arr.'r, ,P85 ❑ personally known tome Lry proved to me on the basis of satisfactory evidence to be the person(s)whose name(s) is subscribed to the within instrument,and acknowledged that she executed it. WITNESS yhand and official seal. � r � Notary's gnature GENERAL ACKNOWLEDGMENT FORM 7110052 NATIONAL NOTARY ASSOCIATION•23012 Ventura 614 •WCPdland riAls CA91364 ATTACHMENT 4 6H Name and Address for Returning Recorded Documents City of Palm Springs Attn:City Clerk 3200 E.Tahquitz Cayon Way Palm Springs,CA 92262 REQUEST FOR FULL RECONVEYANCE WITH ORIGINAL DOCUMENT INDEMNITY TO: First American Title Insurance Company,Trustee The Undersigned is the legal owner and holder of a Promissory Note secured by the following Deed of Trust recorded in Riverside County, State of CA and is authorized to sign on behalf of undersigned beneficiary. The note, together with all other indebtedness secured by said Trust Deed has been paid in full and satisfied;you are hereby requested and directed,to reconvey,without warranty to the"person or persons legally entitled thereto,"the estate now held by you related to the property described below: Truster: Palm Canyon Ranch,a general Partnership Beneficiary: The City of Palm Springs,a municipal corporation Recording Date: 01/03/2000 Entry No.: 2000-000971 Legal Description: The property is that certain real property in the City of Palm Springs, County of Riverside, State of California, more particularly described as follows: Lots 8, 11 and 12 of Tract Map No. 17470, as shown by map on file in Book 148,Pages 14 and 15 of Maps, records of the Riverside County Recorder's Office,Riverside County, California. The undersigned Beneficiary hereby certifies that the original Trust Deed Note and Trust Deed hereinabove referred to have been retained, lost or destroyed. The undersigned Beneficiary also certifies that the Note and Trust Deed hereinabove described have not been assigned to another party. That in consideration of the issuance by said Trustee of its Reconveyance of said Deed of Trust without the surrender to it of the aforementioned Note for cancellation and retention, Beneficiary, their successors, assigns and administrators, hereby agrees to indemnify and hold harmless said Trustee, its agents, employees, successors and assigns, of all liability and responsibility of any loss,damage and expense that may arise or that Trustee may suffer by reason of the issuance of such Reconveyance without having possession of the original Note. The undersigned Beneficiary further agrees to protect and hold harmless all interested parties who may claim an interest in the property referred to herein from any and all loss suffered or damages incurred by reason of a final decree of a court of competent jurisdiction, including but not limited to,actual damages paid, attorney's fees and court cost incurred by reason of the lost Trust Deed Note and Trust Deed described hereinabove. Dated this day of The City of Palm Springs By: David Ready, ity Manager A notary public or other officer completing this certificate verifies only the identify of the individual who signed the document to which this cerfificate as attached,and not thetruthfulness. c r F that STATE OF ) SS. COUNTY OF ) On before me, a notary public, personally appeared who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s)or the entity upon behalf of which the persons)acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature By: 6'