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HomeMy WebLinkAbout01648 - RACQUET DR ESTATES SUBDIVISION TRACT 11951 PALA4 - S �O N City of Palm springs CA I. 1 V 0 R N I A Cq��FpRN�P RO BOX 1766, PALM SPRINGS, CALIFORNIA 92263 August 13, 1981 Erwin & Anderholt 74-090 E1 Paseo P. 0. Box 789 Palm Desert, Ca. 92261 ATTENTION: Mr. Stephen Sindoni RE: Tract No. 11951 City of Palm Springs Dear Mr. Sindoni : In response to your letter dated August 11 , 1981 , on behalf of Racquet Drive Estates, Inc. requesting withdrawal of the tentative tract map, please be advised that the subject map has been recorded. The recorda- tion information is as follows : Book 115, Pages 91 & 92 Any reversion to acreage must be accomplished in conformance with Sections 66499. 11 to 66499.20 inclusive of the Subdivision Map Act as amended January 1 , 1981 . Additionally, it must also conform to Chapter 9.66, City of Palm Springs Ordinance 1125 adopted January 7, 1981 . Additionally, please note that Racquet Drive Estates may be in violation of item 9 of the subdivision agreement for subject tract dated October 18, 1980. Should you have any questions or if I may assist you in .any manner, please feel free to call me. Ve O Your�s,`���' Rich McCoy City Engineer RM/tm cc: Norm King, City Manager William Adams, City Attorney Judy Sumich yr R E C'E I V IE D John Mangione AUG 14 1981 ERWIN & ANDERHOLT A PROFESSIONAL LAW CORPORATION DAVID J.ERWIN J.JOHN ANDERHOLT 74-090 EL PASEO TELEPHONE JEFFERY S.R.PATTERSON POST OFFICE BOX 739 AREA CODE 714 MICHAEL J.ANDELSON PALM DESERT,CALIFORNIA 92261 sse-zsu DOUGLAS S.PHILLIPS DAVID M.FRANKLIN STEPHEN A.SINDONI ROBERT MARVIN CLARK GREGORY A SWAJIAN NCOMA R.KNITTER CHARLES M.ELLIS August 11, 1981 6 J S City of Palm Springs p �� I 3200 E. Tahquitz-McCallum Way Palm Springs , CA 92262 '1' Attn: City Manager 17; UI �+ rv..,l:R'S OY=FI . Re: Racquet Drive Estates , Inc. Tract #11951 Dear Sir: The undersigned represents Racquet Drive Estates, Inc. with regard to their proposed development under Tract #11951. The final tract map has not been recorded and L it is the desire of Racquet Drive Estates , Inc. to withdraw the tentative tract map. It is further the desire of Racquet Drive Estates, Inc. to allow the property to revert to acreage. It is hereby requested that the City of Palm Springs notify the surety, Developers Insurance Company, P .O. Box 884, Los Alamitos, CA. , telephone number 714-527-8262 , to release the performance bond on the above-referenced property. If you have any questions, please do not hesitate to call. It is respectfully requested that all due diligence be used in the carrying out of this release. Sincerely, /s �' ''✓STFHEN A. SINDONI SAS :a cc: Palm Springs Engineer' s Office Attn: Rich McCoy L ✓� J -Y�'' r.i+v r1a,L Racquet Dr. Estates,Ync. - CITY OF PALM SPRINGS Constr Subdiv Impr Agr for Tract 11951 SUBDIVISION IMPROVEMENT AGREEMENT AGREEMENT #1648 (Original) 10-ls-so THIS AGREEMENT, made and entered into this `�1 day of 19Cf } , , by and between Racquet,Drive_ Estates, Inc , 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 and filed a final subdivision map of Tract No. 11951 in the City of Palm Springs, County of Riverside, for approval by City; and 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 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; and WHEREAS., the total cost of such improvements has been estimated by the City Engineer to be approximately $ 588,700,00 NOW, THEREFORE, IT IS AGREED by and between the parties hereto as follows: 1 . 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 acceptance of such streets and easements, as shown on the "Improvement Plans for Tract 11951 " , 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 business in the State of California on forms approved by City, one bond in the sum of $ 588,700.00 to assure the faithful performance of this Agreement, and one bond in the sum of 294,350. 00 to assure payment of the cost of the labor and materials for the improvements required to be constructed or installed hereby. Both of said bonds shall be deemed exonerated upon acceptance by the City of the improvements, and the furnishing of a maintenance bond at the time of the acceptance in the amount of $ 88,305.00 Said maintenance bond 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 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 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 proof of having paid the engineer or surveyor for the setting of said monuments, or as provided for in the Subdivision Map Act. Subdivision Improvement Agreement Page 2 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 $ 5,300.00 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 be 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 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. 9. Subdivider shall commence the construction and installation of such improvements within thirty (30) days from the approval of such "Improvement Plans for . Tract 11951 " 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) days 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. r � � Subdivision Improvement Agreement Page 3 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. SUBDIVIDDER: Address City ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By r' v City klanager r --Deputy City Clerk REVIEWED & APPROVED ,_4Y, ENG. EF 5 8/76 — -- ------- -- - -- - - i STATE OF CALIFORNIA ss. � COUNTY OF Ri�,arSi da EOn /1r+nhPr l r 1980 0 before me, the undersigned, a Notary Public in and for FRANKS D. said Slate, personally appeared JACK �I known to me to be the President; ' , `-' 'G]ri�'.34rYS+XxYeK'rb #�'fR'e 4arg y of the corporation that executed the within instrument, E and known to me 1. be the persons who executed the within - instrument on behalf of the corporation therein named, and ac- knowledged to me that such corporation executed the within, ..:;c. instrument pursuant to its 6y-laws or a resolution of its board df( :��,,, ��pppp�� fJgP}'I(yryryfl��}}L��7PAL' �yr� rr `o directors. ( �p \�' Hy1al3 !.. 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StR,2J/VGJ 7X1Z,dV .91 ND'/7'Z3"E EtE/A/G 77.IE BER,FJNG OF ?yF. 'CEV7,FZZ1A/£ Dr HE�/JL7JR zael E- PZR 77ZHC7-/V" Z4// M8 44l 7-S-76 JeWD 7J OF RJ115UIDE COL/N7Y i CRL/fZHLN/A• FVU/JD JW AI LP. IN C.pi.MOH. WELL, T S&CD Rl 6//042, 77ZRCTN! 24// M.BQ' 1 Z5--7G De O711eg cVaVD AMMIN/EVTJ RJ ,VOTED DA/ N7RPHF�'OA/. a DEAlOM /'/4" X P.JCT FZLIMH RNO 7ACAW LJ4/46 O SET 4 / " /.P 74466ED L.S. NO. 4/46 EMRfWZ7EO /N /Z" OF P. C. CONCRETE W17N Two row OF 7X/� P/P.E 6" agzow MO ,Wlel- ele ALL 6NCi7S&W W/7l//N A "Sr IRDN MONUMRN7 N,QN,9RMO F,?AMr Ayp CnyER SET /N 4CCOROQNrG W/TN C17Y OF p4LM XSPZINSS STD. DiY6 �) �) NO. /00, ZX Z REDWOOD STAKE-Y SET FLUSH A,Y17 TA66W L.S. 4146 .SET A7 ALL LOT CORN40* UNLESS NO7AP OMIWO IXE. 4 L� Y �w 1 4 ... 4 i � µ.P wPr (BOND 1 OF 2) City Clerk Copy BOO NO. 101036 PREMIUM: $8, 500 . 00 CITY OF PALM SPRINGS FAITHFUL PERFORMANCE BOND WHEREAS, the City Council of the City of Palm Springs, State of California, and Racquet Drive Estates, Inc . (hereinafter designated as "principal ") have entered into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, dated fj, fl 1900, 19 and identified as project Tract No. 11951 is hereby referred to and made a part hereof; and WHEREAS, said principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the principal and Developers Insurance Company as surety, are held firmly bound unto the City of Palm Springs, hereinafter called ("City") , in the penal sum of Five Hundred Thousand and no/100---- dollars ($500, 000) lawful money of the United States , for the payment of which sum well and truly to be made, we bind ourselves, our heirs, successors, executors and administrators , jointly and severally, firmly by these presents . The condition of this obligation is such that if the above bounded principal , his or its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants , conditions and provisions in the said agreement and any alteration thereof made as therein provided, on his or their part, to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless the City of Palm Springs, its officers , agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by the City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the agreement or to the work to be per- formed thereunder or the specifications accompanying the same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the agreement or to the work or to the specifications . IN WITNESS WHEREOF, this instrument has been duly executed byy the principal and surety above named, on October 9th 1 19 80 AT THE REQUEST OF SURETY COMPANY THE TOTAL BOND REQUIREMENTS OF $588, 700 . 00 QF" (_)xTn RnND OF $88, 700 . 00 . STATE OF CALIFORNIA - l -� COUNTY of RIVERSIDE - n ))) r a3r 1984 :U On OOtO ,_ , before me, the undersigned, a Notary Public in and to, m said State, personally appeared JACK D. FRANKS - known to me to be the c,ty and State,residing q President, afi. rkS 4SxhCEOXrh'4��' XTTa=Ky of the corporation that executed the within instrument, Qand known to me to be the persons who executed the within instrument on behalf of the corporation therein named, and ac- knowledged to me that such corporation executed the within �;�.,,,, OFFICIAL SEAL. touted the oinstrument pursuant to its by-laws or a resolution of its board of t � ,�' '� VA.Lif.,f'{Pl DIS'FIMAN a 26:,c u directors. w�"�k'" NOTARY PUciLICCALIFORNIA ; ° PRINCIPAL OFFICE IN c . 6 WITNESS m hendjand offc n �"'-c.'di RIVERSIDE COUNTY � ' o Y /J ial seal. /e MY Convnission E,,rilms Apr. 15, 1483 - Signature VAUGHN DISHMAN Name(Typed or Printed) (This area For official notarial seal) GENERAL • POWER OF DEVELOPERS INSURANCE COMPANY ATTORNEY LOS ALAMITOS, CALIFORNIA KNOW ALL MEN BY THESE PRESENTS:That DEVELOPERS INSURANCE COMPANY,a corporation,duly organized and existing under the laws of the Slate of California,and having its Home Office in the City of Los Alamitos,California,has made,constituted and appointed and/does by these presents make, constitute and appoint Russell P. Tomlinson, Albert H. Brunet and Marcus E. Green jointly or severally its truc and lawful Attorney(s)-in-Fact,with full power and authority lierellycorterred knits name,place and stead,to execute,seal,acknowledgeand deliverany and all bonds, undertakings, recognizances or other written obligations in the nature thereof and to bind the Cot potation thereby as fully and to the same extent as tf such bonds were signed by the President,sealed with the corporate seal of the Corporation and duly attested by its Secretary, hereby ratifying and confirming all that the said Attorney(s)-m-Fact may do in the premises This Dower of attorney is granted pursuant to Article IV,Section I I and 12 of By-laws of DEVELOPERS INSURANCE COMPANY adopted on the 30th day of March, 1979, and now in full force and effect. Article IV,Appointment and Authority of Resident Assistant Secretaries,and Attorney-m-Fact and agents to accept Legal Process and Make Appearances. Section I The Chairman of the Board,the President,any Vice President,any Secretary or any l reasurer may appoint attorneys-m-fact or agents with power and authority, as defined or limited in their respective power of attorney,for and on behalf of the corporation to execute and deliver,and affix the seal of the corporation thereto,bonds, undertakings,recogn17macb,consents of surety or other written obligations in the nature thereof a nd any of.smd officei s may remove such attorney-m-fact or agent and revoke the proven and authority given to him. Section 12.Any bond,undertaking,recogn¢anec,consent of surety or written obligation i n the nature thereof shall be valid and burimp upon the corporation when signed by the Chairman of the Board,the President,anyVice President or any Treasurer and duly attested andsealed,dascudis squired,byany Secretary orwhensigned by the Chairman of the Board,the President,and Vice President or any Treasurer and countersigned and sealed,it a seal is requu ed,by a duly a ufl omcd aliorncy-m-f act or agent and any such bond,undertaking,recogm>ance,consent of surety or written obligation in the nature t hereof slmE be valid and binding upon[he con potation when duly executed and scaled,if a seal is refined,by one or more attorneys-in-fact or agents pursuant to and within the limits of the authority granted by his or their powers of attorney ]']its power of attorney is signed and sealed under and by the authority of the following Resolution adopted by the Board of Directors of DEVELOPERS INSURANCE COMPANY at a meeting duly called and held on the 14th day of January, 1980,and that said Resolution has not been amended or repealed "RESOLVED, that the signature of any Vice-President, Assistant Secretary, and Resident Assistant Secretary of this Corporation, and the seal of this Corporation may be affixed or printed on any power of attorney,on any revocation ofany power of attorney,oT certificate bearing such facsimile signature or facsimile seal shall be valid and binding upon the Corporation." IN WITNESS WHEREOF,DEVELOPERS INSURANCE COMPANY has caused these presents to be signed by its Sect etary,and its corporate seal to be hereunto affixed this 14th day of January, 1980. DEVELOPERS INSURANCE COMPANY son 1979 W,S, 9 By Paul E. Griffin,Jr., Secretary STATE OF CALIFORNIA COUNTY OF LOS ANGELES Ss. On this 141h day of January, 1980, before me personally came Paul E. Griffin,Jr.,to in known, who being by me duly sworn,did depose and say: that he is Secretary of DEVELOPERS INSURANCE COMPANY,the Corporation described inand which executed the above instrument,that he knows the scat of sold Corporation;that the seal affixed to the said instrument is such corporate seal;that it was so affixed by order of the Board of Directors of said Corporation and that he signed his name thereto by like order. OFFICIAL SEAL. i` MARY ROSEN e a •^ NOTARY PUBLIC - CALIFORNIA ? `AFan1e`�> LOS ANGELES COUNTY My comm. expires SEP 6, 1961 .�f �fGJ" 19436 Venture Boulevard, Tarzana, CA 91356 Mary Rosen, Notary Public CERTIFICATE (/ STATE OF CALIFORNIA COUNTY OF LOS ANGELES SS. I the undersigned Vice-President of DEVELOPERS INSURANCE COMPANY,a CALIFORNIA Corporation, DO HEREBY CERTIFY that the foregoing and attached POWER OF ATTORNEY remains in full force and has not been i evoked;and furthermore that Article IV,Sections I 1 and 12 of the By- laws of the Corporation, and the Resolution of the Board of Directors,set forth in the Power of Attorney, ate now in force. Signed and scaled at Los Angeles, California, this 9th October 80_day of 19 . oa Harry C Crowell, Vice-Presidt of I • • City Clerk Copy (BOND 2 OF 2) BOND NO. 101037 PREMIUM: $1, 508 . 00 CITY OF PALM SPRINGS FAITHFUL PERFORMANCE BOND WHEREAS, the City Council of the City of Palm Springs, State of California, and Racquet Drive Estates , Inc . (hereinafter designated as "principal ") have entered into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, datedFi)�, " 18 198 19 and identified as project Tract 11951 is hereby referred to and made a part hereof; and WHEREAS, said principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the principal and Developers Insurance Company as surety, are held firmly bound unto the City of Palm Springs, hereinafter called ("City") , in the penal sum ofEighty-eight Thousand, Seven hundred and no/100-- dollars ($88 , 700 .) lawful money of the United States , for the payment of which sum well and truly to be made, we bind ourselves , our heirs, successors, executors and administrators, jointly and severally, firmly by these presents . The condition of this obligation is such that if the above bounded principal , his or its heirs, executors, administrators , successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants , conditions and provisions in the said agreement and any alteration' thereof made as therein provided, on his or their part, to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless the City of Palm Springs , its officers , agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees , including reasonable attorney's fees , incurred by the City in Successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the agreement or to the work to be per- formed thereunder or the specifications accompanying the same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the agreement or to the work or to the specifications . IN WITNESS WHEREOF, this instrument has been duly executed b the principal and surety above named, on October 9th 198y0 STATE OF CALIFORNIA COUNTY OF RIVERSIDE �ss. a on October 13, JJJ 1980, V before me, the undersigned, a Notary Public in and for v said State, personally appeared `7`�CK D.FRANK$iz �,nty and State,residing known to me to be the President}G_lS�C E of the corporation that executed the within instrument,Q and known to me to be the persons who executed the within LLinstrument an behalf of the corporation therein named, and ac- t .executed the o knawledged to me that such corporation executed the within oinstrument pursuant to its by-laws or a resolution of its board of ,� ., tiF OFFIOI a `o directors. �! � �,/r�t.�r`'.,` AL SEAL n WITNESS my hand)and official seal s i,1+�rI IUVLIGC L'Fp'�Iq lbove. " 9 t .I I f at e LL Signature r� 1 - VAUGHN DISHMAN ! Name(Typed or Printed) 'This area for official nmanal seal) 6 CITY OF PALM SPRINGS • City Clerk Copy LABOR AND MATERIALS BOND BOND NO. 101036 & 101037—A PREMIUM: INCLUDED WHEREAS, the City Council of the City of Palm Springs, State of California, and Racquet Drive Estates, Inc. (hereinafter designated as "principal") have entered into an agreement whereby principal agrees to install and complete certain designated public improvements , which said agreement, dated(IrT 1 8 198 19, and indentified as project Tract 11 S1 is hereby referred to and made a part hereof; and WHEREAS, under the terms of said agreement, principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of Palm Springs to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. NOW, THEREFORE, said principal and the undersigned as corporate surety, are held firmly bound unto the City of Palm Springs and all contractors, subcontract- ors, laborers, materialmen and other persons employed in the performance of the aforesaid agreement and referred to in the aforesaid Civil Code in the sum of Two Hundred Ninety-four Thousand Three Dollars 294,350 , for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to such work or labor, that said surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by the City in successfully enforcing such obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered. It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond. Should the condition of this bond be fully performed, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of said agreement or the specifications accompanying the same shall in any manner affect its obligations on this bond, and it does hereby waive notice of any such change, extension, alteration or addition. IN WITNESS WHEREOF, this instrument has been duly executed by the principal and surety above named, on OCTOBER 9th , 1980 . RACQ T RIVf ESTA S, IN. STATE OF CALIFORNIA ) - =---�d�—_—_-------- - - -- — _"- COUNTY OF Riverside _}ss. a o On before ore me, the undersigned, a Notary Public in and for o said State, personally appeared J� FRAA LKS '- know ounty and State,residin m n to me to be the B ��Presidenq ' kfiXs3'�Yos{rYs�?'r}c�r}".� �,>�� E arty of the corporation that executed the,with in instrument, Q and known to me to be the persons who executed the within instrument on.behalf of the corporation therein named, and ac- o knowledged to me that such corporation executed he within executed the oinstrument pursue to its by-laws or a resolution of its board - o" / / of - `o directors. _ yu WITNESS m hah'd andt, aboVe. f i ! r uh VVitfs�� Er LL Signature `r�, f + A / �.� e7s( 2 fob JAMS L.--MCARTHIIR� +..- ,a r -_IleXea x t Pi y eIR .J_ ,t�'{ i$R-�71'�it-SQL Name (Typed or Printed) (This area for official notarial seal) • I� City Clerk Copy BOND FOR FAITHFUL PERFORMANCE OF MONUMENTATION (Subdivision Agreement) BOND NO . 101038 PREMIUM: $90 . 00 KNOW ALL MEN BY THESE PRESENTS: That We, Racquet Drive Estates, Inc. as Principal, and Developers Insurance Company as Surety, are held and firmly bound unto the CITY OF PALM SPRINGS, STATE OF CALIFORNIA, in the sum of Five Thousand, Three Hundred Dollars ($r ) , lawful money of the United States of America, for the payment of-which sum, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally, firmly by these presents. The condition of the foregoing obligation is such that whereas said Principal has, or is about to enter into the annexed agree- ment with the City of Palm Springs pursuant to the provisions of the Subdivision Map Act of the State of California and the Sub- division Ordinance of said City, for the setting of survey mon- uments in accordance with the provision 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, and WHEREAS the Principal, after setting the monuments, agrees to furnish the City Engineer of the City of Palm Springs written notice of the setting of said monuments and written proofs of having paid the Engineer or Surveyor for the setting of said monuments, all in accordance with the requirements of City' s Subdivision Ordinance. NOW THEREFORE, if the said Principal shall well and truly do and perform all the covenants and obligations of said agreement on its part to be done and performed at the times and in the manner specified therein, and shall make full payments to all contractors , their subcontractors and to persons renting equipment or furnishing labor or materials to them for the improvement in the prosecution of the work provided for in said agreement, then the above obligations shall be void and of no effect; otherwise, it shall be and remain in full force and effect. And the said Surety, for value received, hereby stipulates rind agrees that no change, extension of time, alteration or addition do the terms of the agreement or to the work or improvements to be .— STATE OF CALIFORNIA m COUNTY OF_Riverrside Ias. a UOn._ortob_ a_l r g� . before me, the undersigned, a Notary aunty and State,residing o said State, personally appeared JACK D. FRANKS- g Y Public in and for known to n me to be 1he�P,esidam, god 'c bN4P:tXX�CAtiXYdSkSeXtl34C � , E of the corporation that executed the within ins trument,Q and known to me to be the persons who executed the within LLinstrument on behalf the corporation executed the o rporation therein named, and ac- o knowledged to me that such corporation executed the within oinstrument pursuant to its by-laws or a resolution o{ its u board of ti directors. 1 ove r o WITNESS m r d ! Asn1 +I- MIAL afAE -s[� o y(hand and ocia `at. ,- ' f `y,r t JAMES L ANC)1RT3k* E �, " ° _ WC)TNW[AJiJtl(:- LL Signature f .'f'f .%J ty,f {�� ?FE tHCA1fN.rJFf7(,f '�a �� JAMES L. MCARTHUR e i ., _ Name (Typed or Printed) � (Th s area for official notarial sea))