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HomeMy WebLinkAbout03286 - NICHOLS TRUST SUBDIVISION IMPROVEMENT PM 23130 DOC # 2007-0587399 • 09/18/2007 08:00A Fee:NC page 1 of 3 Recorded in officsal Records County of Riverside I Larry W. Wardpisses5or, County Clerk & Recorder I Recording Requested by and After Recording S R U I PAGE I SIZE DA MISC LONG RFD COPY Return to: 1,31 City Clerk M A L 1 465 1 426 PCOR NCPR SMF CH [xAM City of Palm Springs 3200 E. Tahquitz Canyon Way Palm S rin s CA 92262 FOR RECORDERS USE ONl Pursuant to overnment o -e echon 61M.this document is be-Fing-re—co-ra-ed as a oenefa to the Ottye Palm pangs an recur mg ees sha I no SUBSTITUTION OF TRUSTEE AND FULL RECONVEYANCE Ls Whereas, Stephen Culver Nichols and Lawrence Clinton Nichols, Trustees of the Frank Culver Nichols Revocable Trust dated Feb. 5, 1985, was the original Trustor, Chicago Title Insurance Company, a Missouri corporation,the original Trustee, and the City of Palm Springs, a municipal corporation, the Beneficiary, under that certain Deed of Trust dated September 25, 1993, and recorded November 23, 1993, as Instrument Number 467765, Official Records of the County of Riverside, State of California, and Whereas, the undersigned Beneficiary desires to substitute a new Trustee under said Deed of Trust, and hereby appoints and substitutes the City of Palm Springs, a municipal corporation, as Trustee in lieu of the Trustee therein. As such duly appointed and substituted Trustee, the City of Palm Springs, a municipal corporation, accepts said appointment as Trustee under the above Deed of Trust, and as successor Trustee, in accordance with the provisions of said Deed of Trust, does hereby reconvey without warranty, to the person or persons legally entitled thereto, all the estate, title and interest now held by said Trustee under said Deed of Trust. The property being reconveyed is described as that certain real property in the City of Palm Springs, County of Riverside, State of California, more particularly described as follows: Parcel 3 of Parcel Map No. 23130 as filed in Book 181, Pages 50-53, records of Riverside County, California. In witness whereof, the City of Palm Springs, a municipal corporation, as Beneficiary, and the City of Palm Springs, a municipal corporation, as successor Trustee, has caused this instrument to be executed. Date: 9 Successor Trustee: City of Palm Springs, a municipal corporation Approved as to form: d^ N & / David H. Ready, City Maraagtsr'" Dougl s C_ Holland, City Attorney ATTEST. APPROVED GY CITY CGUNCll. w4b J fnes Thompson, City Clerk ALL-PURPOSE ACKNOWLEDGMENT State of (JAG(,orp, _ CAPACITY CLAIMED BY SIGNER County of 1211//Y irCC ❑ INDIVIDUAL(S) { L ,p /�; ❑ CORPORATE On ' ,./ ( �,G��U� before me, ( I.crT�R%li !'krr IUGfLer u� OFFICER(S) r Date ! hlae,Title of OTTcer TITLE(S) personally appeared Y ayi"'� fir- L��td'7 �Cvl� l e, i Title of O NAME(S) OF SIGNER(S) ❑ PARTNER(S) ❑ ATTORNEY-IN-FACT .personally known to me-OR- ❑ TRUSTEE(S) ❑ SUBSCRIBING WITNESS ❑ proved to me on the basis of satisfactory evidence to be the persons(s)whose name(s) ❑ GUARDIAN/CONSERVATOR p is/are subscribed to the within instrument and acknowledged to me that he/she/the =OTHER k, /`"flrutk6l aV' executed the same in his/her/their authorized capacity(ies), and that by his/her/thei �)Y� CY signature(s) on the instrument the person(s) or the entity upon behalf of which the persons(s) acted,executed the instrument. SIGNER IS REPRESENTING: f r Witness my hand and officialseal. CYNiH1A I.MBARDI _ � ir CommWlon aF` 7615E99 Signature of Notary �}OMVCarr", No"Riv�cam r .Whet Feb 18,201 ATTENTION NOTARY: Although the information requested below is OPTIONAL, it could prevent fraudulent attachment of this certificate to unauthorized document. THIS CERTIFICATE Title or Type of DocumentL klt' i?v aE J5 � t d 7�/t' �GIJrn i/E�yCe61G4 MUST BE ATTACHED q r CvfG TO THE DOCUMENT Number of Pages �,!ICI. i 1h 1,4LDATE of DOCUMENT 'f(lk1/S� !%.'� / DESCRIBED AT RIGHT: i ' ° J i Signer(s) Other Than Named Above IilllllIIIIIIIIII(IIIIIilllllIIIIIIIIIIIIIIIIII Jill IIII es/'8/2 0?08:esa OF x+verfrU LARRY W. WARD Recorder COUNTY OF RIVERSIDE P o.sox 751 * * ASSESSOR-COUNTY CLERK-RECORDER Rtivemde,CA 92502-0751 �011'.M1`15'CtiR•r NOTARY CLARITY Under the provisions of Government Code 27361.7, 1 certify under the penalty of perjury that the notary seal on the document to which this statement is attached reads as follows: Name of Notary: Cynthia A. Berardi Commission ##: 1645899 Place of Execution: Riverside County, CA Date Commission Expires: February 1 $ 2010 Date: Aq Signature: ( . Printed Name: IIIIIII IIIIIII IIIIIIIIIIIIIIIIIIIIIIIII III IIIII IIII IIII 09 18A3 of 39900R • Frank Culver Nichols Trust PM23130 - Subdiv Impro Agr AGREEMENT #3286 cM Signed, 10-6-93 CITY OF PALM SPRINGS SUBDIVISION IMPROVEMENT AGREEMENT YTH S AGREEMENT, made: and entered into this day of 6VT , 1993, by and between Stephen C. Nichols , Trustee of the Frank Culver Nichols Revocable Trust, hereinafter 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 and filed a final subdivision map, Parcel Map No. 23130 , in the City of Palm Springs, County of Riverside, for approval by City; and WHEREAS, Subdivider, by said map, has offered for dedication to City for public use the streets and easements shown in 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 WHEREAS, 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 relating to Parcel 3 of said final map; and WHEREAS, the total cost of such improvements has been estimated by the City Engineer to be approximately $293 , 608 . 00 ; NOW, THEREFORE, IT IS AGREED by and between the parties hereto as follows : 1 . Subdivider, at his sole cost and expense and pursuant to the schedule set forth in Item 8 of this agreement , shall construct and install the street , drainage, domestic water, sanitary sewer and other improvements relating to Parcel 3 of said final map, 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 . 2 . Subdivider shall execute a Deed Of Trust encumbering �✓ Parcel X70f the said final map, 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 100% of the cost of construction (Faithful Performance) plus 50% of the cost of construction (Labor and Materials ) totalling an estimated $440 , 412 . 00 . The amount secured shall be reduced as improvements are constructed, maintaining a minimum secured amount of 15% of the construction cost (Maintenance Security) . 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 . Subdivision Improvement Agreement Page 2 of 3 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 furnishing of a maintenance bond at the time of the acceptance in the amount of $44,041 . 00 . Said maintenance bond shall remain in effect for a period of one year from date of acceptance of the improvements . 3 . Before final approval of street improvements , the Subdivider will place survey monuments in accordance with the provisions of the state Subdivision Map Act and the Subdivision Ordinance of the City of Palm Springs as shown on the Parcel 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 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 $4 ,350 to guarantee payment of the cost of setting monuments as stated in Item No. 3 of this agreement . If Subdivider shall have set said survey monuments prior to approval of the Parcel Map , then no bond shall be required. 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 . 6 . Subdivider shall perform any changes or alterations in the construction 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 . 7 . Subdivider shall guarantee such improvements for a period of one 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 year period . 8 . Construction of such improvements shall be required five (5) years after city approval of the final map , or at the end of any further time extension as may be hereafter mutually agreed by the parties . Subdivider shall submit plans for such improvements prior to the expiration of such time period and shall commence the construction and installation of such improvements within thirty � a � s Subdivision Improvement Agreement Page 3 of 3 (30) days from the approval of such improvement plans by the City Engineer, and shall complete such construction and installation within nine ( 9) months from such date of commencement . 9 . In the event that Subdivider fails to perform any obligation hereunder, Subdivider authorizes City to perform such obligation twenty (20) days after providing written Notice of Default to Subdivider at the address given below, and agrees to pay the entire cost of such performance by City. 10 . 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 . 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 WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and ;year first above written. SUBDIVIDER: Frank Culver Nichols Revocable Trust C � By : Stephen C. Nichols , Trustee 879 N . Palm Canyon Drive Palm Springs , CA 92262 ATTEST: CI Y LM I CALIFORNIA SM City Clerk ity Imanager REVIEWID & APPROVED_____` BY RES. N10. � / 0 -c- i q 3,-V6 . Frank Culver Nichols Trust PM23130 - Subdiv Impro Agr AGREEMENT #3286 CM Signed, 10-6-93 related CITY OF PALM SPRINGS SUBDIVISION IMPROVEMENT AGREEMENT TH S AGREEMENT, made and entered into this day Of ���' , 1993 , by and between Stephen C. Nichols , Trustee of the Frank Culver Nichols Revocable Trust , hereinafter 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 and filed a final subdivision map, Parcel Map No . 23130 , in the City of Palm Springs, County of Riverside, for approval by City; and WHEREAS, Subdivider, by said map, has offered for dedication to City for public use the streets and easements shown in 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 WHEREAS, 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 relating to Parcel 3 of said final map; and WHEREAS, the total cost of such improvements has been estimated by the City Engineer to be approximately $293 , 608 . 00 ; NOW, THEREFORE, IT IS AGREED by and between the parties hereto as follows : 1 . Subdivider, at his sole cost and expense and pursuant to the schedule set forth in Item 8 of this agreement , shall construct and install the street , drainage, domestic water , sanitary sewer and other improvements relating to Parcel 3 of said final map, 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 . 2 . Subdivider shall execute a Deed Of Trust encumbering f`Jd�✓ Parcel X'7of the said final map, 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 100% of the cost of construction (Faithful Performance) plus 50% of the cost Of construction (Labor and Materials ) totalling an estimated $440 , 412 . 00 . The amount secured shall be reduced as improvements are constructed, maintaining a minimum secured amount of 15% of the construction cost (Maintenance Security) . 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 .