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Home My WebLink AboutSR - R23390 - Phs I @ Falcon Crst & Models PhsPALM DESERT REDEVELOPMENT AGENCY STAFF REPORT REQUEST: 1. ACCEPTANCE OF THE MODELS PHASE AND PHASE ONE AT FALCON CREST (CONTRACT NO. R23390) WITH COMDYN PD, LLC FOR THE DEVELOPMENT OF BOTH THE FALCON CREST AND LA ROCCA VILLAS PROJECTS 2. RELEASE OF PERFORMANCE BONDS ASSOCIATED WITH THE MODELS PHASE AND PHASE I OF THE FALCON CREST AND LA ROCCA VILLAS PROJECTS 3. ACCEPTANCE OF THE 10% MAINTENANCE BONDS FOR THE MODELS PHASE AND PHASE I SUBMITTED BY: CATHERINE WALKER, SENIOR MANAGEMENT ANALYST DEVELOPER: COMDYN PD, LLC 2800 28T" STREET, SUITE 206 SANTA MONICA, CA 90405 U.S. SPECIALTY INSURANCE COMPANY 625 THE CITY DRIVE SUITE #305 ORANGE, CA 92868 DATE: OCTOBER 11, 2007 CONTENTS: PERFORMANCE BONDS NO. 10007540426 PERFORMANCE BOND NO. 296314 MAINTENANCE BOND NO. 1000750426 MAINTENANCE BOND NO. 296314 QUITCLAIM AND ASSIGNMENT Recommendation: By Minute Motion, that the Agency Board: 1. Accept the Models Phase (4 model single-family homes, Lots 1-4, 3 senior villa units on Lot 109, and a perimeter block wall) and Phase 1 (29 single-family homes, the 27 senior villas units, and the Resident Services Building) at the Falcon Crest and La Rocca Villa Development; 2. Release the Performance Bond No. 296314 for the Models Phase and Bond No. 1000750426 for Phase; Staff Report Acceptance of the Models Phase and Phase I- Falcon Crest / La Rocca Villas Page 2 of 3 October 11, 2007 3. Accept 10% Maintenance Bond No. 296314 for the Models Phase and Bond No. 1000750426 for Phase I; and 4. Authorize Executive Director to accept and execute the Quitclaim and Assignment. Executive Summary: The construction of the Falcon Crest/La Rocca Villas has been segmented into phases with each obligated to have an associated Performance Bond for 100% of the work in that phase. Upon completion, as defined in Section 1.4 of the Development Agreement, the phases are to be accepted through partial certificates of completion after the following has taken place: Criteria outlined in Section 1.4 is met, the work for the given phase has been accepted, and the 10% maintenance bond has been accepted. The work is complete for both the Models Phase and Phase I. Certificates of Occupancy have been issued for the units encompassed in these phases, and the criteria outlined in Section 1.4 has been met for both of these phases. This action is solely for the work defined as the Models Phase and Phase I, the Performance Bonds for the site work, Phase II and Phase III remain in place until completion is reached for each. Agency staff will bring forward the Partial Certification of Completion for these phases, as per the agreement, at the next regularly scheduled meeting. Discussion: On July 14, 2005, the Palm Desert Redevelopment Agency Board awarded a contract with ComDyn PD, LLC for the development of affordable housing on the 20-acre site, currently known as Falcon Crest and the La Rocca Villas. The construction contracts between ComDyn PD, LLC and Community Dynamics have been broken down into five contractual phases. The site improvements, the Models Phase, Phase I, Phase II, and Phase III. Each phase is obligated as per Section 7.3 of the Agreement to have a Performance Bond for 100% of the work in each phase. Once the criteria, as defined in Section 1.4 of the Development Agreement has been accomplished, the work is to be deemed complete. This criterion includes: Written Certification from the Architect, issuance of Certificates of Occupancy, the receipt of any unconditional stop notices, and recordation of the transfer to owner of all the developer's title interest and rights in the site and any warranties and guarantees relating to the site. The Agency has received evidence of all of the above for the Model Phase and Phase I. Because the construction has been phased, the completion of each will be taken into consideration upon individual completion. The Performance Bonds for the site work, Phase II, and Phase III will remain in place until all contractual obligations have been met for each Phase. G:\rda\Mana Hunt\WPDATA\WALKER\staff reports\101107 Staff ComDyn Acceptance 11.doc Staff Report Acceptance of the Models Phase and Phase I- Falcon Crest / La Rocca Villas Page 3 of 3 October 11, 2007 Agency staff recommends approval of the acceptance of the Models Phase and Phase I, the release of the Performance Bonds for these phases, and the acceptance of the 10% Maintenance Bonds. The Maintenance Bonds have been reviewed and approved by the City Attorney. Submitted By: Catherine Walker vk-L- Senior Management Analyst mh Approval: pment Carlos L. Orteah. Executive Director Department Head: Dave Yrigo Director edevelopment/Housing Paul S. Gibson, Director of Finance J . BY P RD f5a'u ems-, r '� pe && fF ON )O'-II-C� VERIFIED BY 120K146411 Original on file with City Clerk's Office G:\rda\Maria HuntOPDATA\WALKER\staff reports\101107 Staff ConnDyn Acceptance 11.doc Staff Report Acceptance of the Models Phase and Phase I- Falcon Crest / La Rocca Villas Page 3 of 3 October 11, 2007 Agency staff recommends approval of the acceptance of the Models Phase and Phase I, the release of the Performance Bonds for these phases, and the acceptance of the 10% Maintenance Bonds. The Maintenance Bonds have been reviewed and approved by the City Attorney. Submitted By: Catherine Walker Senior Management Analyst mh Approval: JorinVcCarthy, ACM Carlos L. OrtegYxecutive Director Department Head: Dave Yrigo Director edevelopment/Housing 6a'4y-151111� nt Paul S. Gibson, Director of Finance G:\rda\Maria Hunt\WPDATA\WALKER\staH reports\101107 Staff CornDyn Acceptance 11.d0c SOND NO. 1000750426 PRIIyIIUM: $176,407.00 THE AMERICAN INST(TUTE OF ARCHITECTS � u �: ��ii�!� \ � � R1;�J � ?�I.'N,/.1 ' - �:. �) �Jc THE FINAL i'�i�MfUWi 15 #'RF.L�i+�A3�Q 4N 'f� �)NAL CC}[�'PRAGT � AIA Document A312 Performance Bond d Any singufar reference to Contractor, Surety, Developer or ofher party shal! be considered plura4 where app{icable. CONTRACTOR (Name and Address): Community Dynamics, Inc. 2800 28th St., Suite 206 Santa Monica, CA 90405 SURETY (Narrse artii Prir�cipai Place of Business): U.S. Specialty Insurance Company 625 The City Drive, Suite 3Q5 Orange, CA 92868 DEVELOPER {Name and Address): ComDyn PD, LLC 2800 26th St., Suite 206 Santa Monica, CA 90405 CONSTRUCTION CONTRACT - Daie: April 1Qth, 200b Amount $6,945,356.33 DesCripbon (Name and Location): Falcon Crest Phasel: Single Family:_Homes, Phasel : Senior Villas Conatruction - Palm Desert, CA 80ND Date (Not earlier than Construc4on Contract Date): Amouni $6,945,35b.33 Modlficadons to this Bond_ 918/06 O None CONTRACTOR AS PRINCIPAL Company: (Corporate Seal) Community Dynamics, Inc. Signature: _ � Name and T' � �� '�;dy,r (My �ddi�onal signatures appear an page 3) � See Page 3 SURETY Company: (Corporate Seal) U.S. Specialty Insurance Company Si nature: �'v 9 Name and 7i�e: � PADL S . DITO, ATTORNEY-IN-I�'ACT {.�(3R 1NFJR1L9ATfON ONLY- Name, Address and Telephone) A�ENT or BRt�KER: Commercial Surety Bond Agency _ 1411.N..Batavi�,:Suite 111 Orange, CA 92$67 (714} 516-1232 AIA DOCUMENT A312 • PERFORMANCE BOND AND PAYMENT BOND • DECEMBER 1884 ED. • AIA � THE AMERICAN INSTITUTE OF ARCHREC7S.1735 NEW YORK AVE., N.W., WASHINGTON, D.C. 20008 THIRD PRINTING . MARCH 196T A312-1984 7 1U Notice to the Surety, the Developer or the Contractor shaii be mailed or delivered to the address shown on the signature page. 11 When this Bond has been fumished to comply wifh a statutory or other legal requirement In the lacation whece the construction was to be perFormed, any provision in this Bond conflicfing with said statutory or legal requirement shall be deemed deleted herefrom a�d provisions conforming to such statutory or other legal requirement shall be deemed incorporated herein. The intent is that this Bond shall be construed as a statutory bond and not as a common law bond. 12 DEFlNITIONS 12.1 Balance of the Contract Price: The tatat amount payab{e by the Developer to the Contractor under fhe Construdion Contrad after aN proper adjustments have been made, induding atlowance to the Contract�r of any amounts received or to be received by the Developer in settlemeni of insurance or other ctaims for damages to which the Contractor is entifled, reduoed by ail valid and proper payments made to or on behaff of the Contractor under the Construction Contract. 12.2 Construetion Contract: The agreemeni betwen the Developer snd the Contractor ideniified on the sfgnature page, induding ali Contract Documents and changes thereto. 12.3 Contractor Defauft: Failure of the Contractor, which has neither been remedied nor waived, to perform or otherwise to comply with the terms of the Construction Contract. 12.4 Developer Default: Failure of the Developer, which has neither been remedied nor waived, to pay the Contradar as required by the Construdion Contract or fo perform and comp4ete or comply with the other ter►ns thereof. (Space is provided below for additional signatures of added parfies, other than those appearing on the cover page.) CONTRACTOR AS PRINCIPAL SURETY Company: {Corporate Seal) Company: (Corporate Seal) II.S. Specialty Insurance Company Signature: Name an i e: R,�,� "�p� ��; '—' Address: O� ,� �' irlti j � ?.�O(o 'r�7.' ��i�,� '�'T �n � � � Signature: . �� Nartze and Title: rAu1. 5. 111TC1, Ai�'Ux�v�z•—r�—F�CT Address: 6z5 The City Drive, Suite 305 Orange, CA 92868 J1Lt DOCUMENT A312 • PERFORMANCE BOND AND PAYMENT SOND • DECENIBER 1884 ED. . Alq � THEAMtRIC,IW 1NSTiTUYEOFARCH[TECTS, 1T35 NEW YORKAVE., N.W., WASHINGTON, D.C, 20006 A312-1984 TNIRU PRINTISJC • MARCH 1987 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of C ifor ss. County of . 1,,' On � . L� � � � before me, �� 1 Y�� , - Date .�p - ,� j �^I�., and T1Ue of Officer (e. .. "Jene . Nataty Publ�c� personalfy appeared �� v ` L� ��(—y\! , Nartro(s) ol Signer(s) �ETiY RODRIGUEZ Commission # 1396258 � . �� • Notary p�blic - Catffomio � � • � Los Angeles Coun}y ` ' My Comm. Expires,bn 27, 2007� ❑ ,.,, .,�, ��fll� I; � t� ,,.., fX�proved to me on the basis of satisfactory evidence to be the persorr(� whose name(� is/ar� subscribed to the within instrument anc� acknowledged to me that he/she/they executed the same in hisJlib,�/tH+s�r authorized capacity(18�a), and that by his/4ier/t�ir . signature(s�. on the instrument the persorl�,1, or the entity upon behalf of which the person(s� acted, executed the instrument. ITNESS han and official seal. SlgneNre ot N dk \ ��/ OPTIONAL Though the iniormation be%w is not required by law, R may prove va/uab/e to persons relying on the document and could prevent haudu/ent removal and reattachment of this /ortn to enother documant. Description of Attached Document Title or Type of Document: \✓ �� 'v �• l W `� � S Q 7 2 b � Document Date: Signer(s) Other Than Named Above: Capacfty(ies) Claimed by Signer Signer's Name: ❑ fndividual ❑ Corporate Officer — Title(s): ❑ Partner — O Limited ❑ General ❑ Attorney-in-Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: . ., Top of thumb here Signer 1s Representin� ��Uh� U 11l �� iu � CS � e a � Number of Pages: O 1999 Na6are1 Notery Assacletlon • 9350 De Soto Ave.. P.O. Buz 2402 • ChetavraN, CA 91373-2402 • wwa.nationakiotery.orp Prod. No. 6907 Reortler. Call Tdl-Free 1-806876�8827 � � � � � � � �� W �`=�'�� ; � �� - _.,.. _�� .� _— :� � � � �� _ —=�_�� — � -- _ �� _ = -� =_= � _= _ � �a ' �`�y �l � �---- �- -_ � � �J� � � � -- � �-� — ER Y � — -= �� -- �� - Y used ehalf o INS E COMPANY) �� - - � --- - -- = 1�riow AU en by These Presents That, U.S. SPEGIAI�Y I�URA ;�(the ` - , oration �� or ani a xisting he Stat _ g its '� __ =n�ouston, ,�xas, does by � e ake, � t � � � � -- - - - � - .�. Erik Johansson or Paul S. Dito of Orange, California �� = _�� . ��—�� 6� -4 its tru 1 � rney(s) ' we � by con �i __�place and stead, to execute, ��ac any ogni n in s or other instruments or contracts of suretyship to � incl d ndmen , and consents of surety, providin the bond not *****************SevenMillion*****"`******�***** lars ($ `"` * *** any t. � fully and to the sam t bon - e Pre ' e corp mpany an u y � its Secr g an - _ the sa� ey-ui- act may do in the premises. Said appointment er and i e�ollowing resolutions of the Board of D'uectors of the U. S. Specialty Insuranc ,Co n• � Be it Resolve� that the President, any Vice-President, any Assistant Vic - ' e tary or hall be v full � power and authority to appoint any one s' ns as Att t nt and e Co o ing provis' � � �� Aet � n fiill r in the name of and on behalf of the Company, to execuu, acknowledge and deliver, any and all bonds, �� reco , , eemenu or indemnity and other conditional or obligatory unde�takings and any end all notices and documents canceling or terminating the Company's liability thereunder, and any such instrvments so executed by any such Attomey-in-Fact shall be binding upon the Companq as if si ed the sident � and sealed and effected by the Corporau Secrotary. Be i1 Resolved, that the signature of any au riz d seal o e or her of atto ing thereto by facsimile, and any power o ing i imile s v i ng upon any wi respect to any i which it i animo o ie f ineeting on July 7, 2003.) � I � ,. S. SPECIALTl' INSURANCE COMPANY has caused these presents to be ' e its Sen' �e � President, and its corporate seal to be hereto affixe is day of � �� e Se� �� T�r` By . Y 1NSURANCE COMPANY � �� _ � � y �� s c � � � � �� es s� � Robert F. Th S' ' e Presi � � � �� ' Sth d r ore me � bert , wn, w o, eing by me duly swom, did depose that geles, a, a e is Senior Vice President of U.S. SPECIALTY INSURANC CON1P ', any described in and which executed the above instrument; that he knows the seal of said Co affix � said instrument is such corporate seal; that it was so affix by der of th � rs of th he si �� his name th to by like T � CoaunMqon # 1A06149 �� Nota i � 1 �� y C�a ��y co i h 18. � � � �� I, Jeannie Kim, Assistant Se re of S. S rrect tto. ce d foreg � ��ill force an e ect; furthermore, the i� e Bo t in the�wer of tCttorney aze in full force and effect. �� In Witness Whereof, I have hereunto set ed the y at L � o'a this�' � of � � � � � ' � � - � ' orporate Seal gpEer,�� _ -�, . d :��. .. �,� � �� -� _- Jeanme Kim, Assistant Secretary Bond No. ll'1C)�'► � � �� - �ncy N h �� , �� POAI _ �� i�� CALfFORN1A ALL•PURPOSE ACKNOWLEDGMENT State of California � c ss. County of U On �� <<�� b before me, i(�l/�1.�- V� ��'�'K?�^L Date am rul Title of Officer .,'�' Notary Public') � personally appeared [ J� I , Na�re�S� or s��aa� O ,. .. � s:l, . . . ! � . � e ¢( proved to me on the basis oi satisfactory evidence LET1Y RODRIGUEZ �� Commission # 1396258 � .'� Notary p�� - CalNomia � � . � los Angeles Coun - MY Comm. Ex es � , P�► Jan 27, 2007� to be the person� whose name(� is/� subscribed to the within instrument and acknowledged to me that he s/�he/tttsy eicecuted the same in his/Rt�/tf1�r authorized, capacity(fes�„ and that by his/P1er/tP1bi� signature� on the instrument the persori�'s,1, or the entity upon behalf of which the person(s) acted, executed the ins�trument. ITNES y h d and official s I. Slqnaturo d N PuWb OPTIONAL Though the information below is not required by law, it may prove va/uab/e to persons relying on the document and could prevent iraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: � � � � .�' �"' � Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Ctaimed by Signer Signer's Name: . , ;:. ❑ Individual Top of thumb here ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Attomey-in-Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: � •� O 1999 Natlonel Naary Aseoclatlon • 9350 De Sotn Ave.. P.O. Box 2402 • ChatewoAh, CA 9131&2402 • www.natbnslnotary.org Prod. No. 5907 Reorder: CaA Tdl-Free 1•800-B766B27 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of Orange ss. � a181 � � On OlQ , before me, Edith Garibav, Notary P�],ic , � f Dale Name end Tllle ol 014cer (e.g., "Jane Doe, Nolery PuWic") �f personally appearedPaul S. Dito --------------------------------- Name(s) ol Signer(s) � `° I%I personally known to me �� O proved to me on the basis of satisfactory :� ti: evidence �— �Q�gF� GARiBAY �� t�MM. # 1468639 � NO7AaY PUBLIC CALIFORNIA o ORANGE COUNTY ^' My comm. expires Feb. 7, 2008 �t ��,;, , � . . . � �'r�i:ri� � � Place Ndery Seel Above A 3� ��.'. to be the person(� whose name(�) is/� subscribed to the within instrument • and acknowledged to me that he�i g executed the same in his/�{� authorized capacity(�, and that by his/h�i X signature� on the instrument the person(�), or the entity upon behalf of which the person(�) acted, executed the instrument. WITNESS my h a offi ial se I. Sig f Nolary PubBc OPTIDNAL Though the information below is not required by law, if may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to anofher document. Description of Attached Document Title or Type of Document: Bond No .�(�00�'�04?..Ln Document Date: Signer(s) Other Than Named Above: Capacity(ies) Ctaimed by Signer Signer's Name: O Individual O Corporate Officer — Title(s): p Pa�tner — O Limited O General �1 Attorney in Fact O Trustee p Guardian or Conservator O Other: Number of Pages: -�;�_: . Top ol thumb here ` Signer Is Representing: U• S. Specialtv Insurance Co�panv __.__ _ ', i � - - , ��,�r�r��as,c��sr�c>��sr�s � � �s�c�,�ssrecs�s�v�:�s+�ssress��css,�o��rsr�cs!�ssr�.�st�s�c.^s�cs�ssr�c,�.�.�sress�+�sr�.�o O 1998 Nelimal Nolery M�oduion • 9;150 De Solo Ave., P.O. Box 2�02 • ChalermNi, CA 81313•2402 • w�vwnallonelndary.org Prod. No. b907 Rsader. Cnll ToH�Free 1-800•B7E6827 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of C o ss. County of � � . On � l� l� � before me�`�V�l �� 1.�°j Dete ,j� . ,� �/� � ,� �Nama and Trtle ol r(e.g., Jane Doe. Notary PubAc personally appeared � ,�� l. � �" I . Name(e) of Signer(s) ❑ �3i89PFu��y ��ii�rvn iV iii$ f� proved to me on the basis of satisfactory evidence � LETiY RODRIGUEZ Commission # 1396258 � , -m Notary Public - Califomia � � Los Angeles County My Comm. Expires Jan 2 7, 2007� to be the person�l whose name�) is/ac�e subscribed to the within instrument and acknowledged to me that he/she/t1?Qy executed the same in his/A�er/tTreir authorized capacity(les�, and that by his/tter/theif signaturg(s) on the instrument the persori(�1, or the entiry upon behalf of which the persor�{s) acted, executed the instrument. ITNESS hand a official seal. . Sipneture of Notery Public ` +— \� OPTIONAL Though the information below is not required by law, it may prove valuable to persons retying on the document and could prevent lraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: �DO`� ��O �Z' Y Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer Signer's Name: Number of Pages: � Individual ❑ Corporate Officer — Title(s): O Partner — � Limited ❑ General ❑ Attomey-in-Fact � Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representin • , ��.�M�b � • •� . ::- � Top of Ihumb here B 1888 Nationel Notery Assocration • 9350 De Soto Ave.. P.O. Boz 2402 • Chetaworth. CA 9131&2402 • www.nationelrwtary.orp Prod. No. b907 Reorder. Catl Tdl-Free 1-800-876-6827 THE AMERICAN INSTITUTE OF ARCHI fECTS � nwaY , ;��n�`� :�;: = j,:rji �,. •f,��L � � AIA Document A312 Performance Bond BOND ��296314 PREMItJM: $36,206.00 Any singular reference to Contractor, Surety, Developer or other party shall be considered plural where applicable. CONTRACTOR (Name and Address): Community Dynamics, Inc. 2800 28th St., Suite 206 Santa Monica, CA 90G�5 DEVELOPER (Name and Address): ComDyn PD, LLC 2800 28th St., Suite 206 Santa Monica, CA 90405 SURETY (Name and Principal Place of Business): U.5. Specialty Insurance Company 625 THE CITY DRIVE SiTITE ��305 ORANGE, CA 92868 CONSTRUCTION CONTRACT Date: •4pri1 25th, 2006 Amount: $1, 206 , 867 . 62 Description (Name and Location): Falcon Crest Phase 1 Homes on Lots 1-4, 3 BOND Perimeter Blockwall - Date (Not earlier than Construction Contract Date): �y 15 , Amount: $1, 206 , 867 . 62 Improvements - 4 Model Single Family Senior Villa Units on Lot 109, and a Palm Desert, CA 2006 Modifications to this Bond: ❑ None CONTRACTOR AS PRINCIPAL Company: (Corporate Seal) Community Dynamics, Inc. Si nature: ��-_ /`/��'1./� _ 9 Name and . �y -�,4y � '�.-s,�,�►.tT (Any additional signatures appear on page 3) SURETY Company: U.S. Specialt Signature: � Name and Title: (FOR INFORMATION ONLY- Name, Address and Telephone) AGENT or BROKER: Commercial Surety Bond Agency 1411 N. Batavia, Suite 111 Orange, CA 92867 (714) 516-1232 �See Page 3 orporate Seal) y I7s r ce Go�r�pany �. PA TL S. DITU, ATiORN�Y--IN-FACT � AIA DOCUMENT A312 • PERFORMANCE BOND AND PAYMENT BOND • DECEMBER 1984 ED. • AIA � THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVE., N.W., WASHINGTON, D.C. 20006 A312-1984 1 TH1RD PRINTING • MARCH 1987 1�The Contractor and the Surety, jointly �nd severally, bind ihemselvzs, their heirs, executo. � administrators, successors and assigns to the Developer for the performance of the Construction Contract, which is incorporated herein by reference. 2 If the Contractor perForms the Construction Contract, the Surety and the Contractor shall have no obligation under this Bond, except to participate in conferences as provided in Subparagraph 3.1. 3 lf there is no Developer Default, the Surety's obligation under this Bond shall arise after: 3.1 The Developer has notified the Contractor and the Surety at its address described in Paragraph 10 below that the Developer is considering declaring a Contractor Default and has requested and attempted to arrange a conference with the Contractor and the Surety to be held not later than fifteen days after receipt of such notice to discuss methods of performing the Construction Contract. If the Developer, the Contractor and the Surety agree, the Contractor shall be allowed a reasonable time to pertorm the Construction Contract, but such an agreement shall not waive the Developer's right, if any, subsequently to declare a Contractor Default; a�d 3.2 The Developer has declared a Contractor Default and formally terminated the Cont�actor's right to complete the contract. Such Contractor Default shall not be declared earlier than twenty days after the Contractor and the Surety have received notice as provided in Subparagraph 3.1; and 3.3 The Developer has agreed to pay the Balance of the Contract Price to the Surety in accordance with the terms of the Construction Contract or to a contractor sefected to pertorm the Construction Contract in accordance with the terms of the contract with the Developer. 4 When the Developer has satisfied the conditions of Paragraph 3, the Surety shall promptly and at the Surety's expense take one of the following actions: 4.1 Arrange for the Contractor, with consent of the Developer, to perform and complete the Construction CoMract; or 4.2 Undertake Xo perform and complete the Construction Contract itself, through its agents or through independent contractors; or 4.3 Obtain bids or negotiated proposals from qualified contractors acceptable to the Developer for a contract for performance and completion of the Construction Contract, arrange for a contract to be prepared for execution by the Developer and the contractor selected with the Developer's concurrence, to be secured with pertormance and payment bonds executed by a qualified surety equivalent to the bonds issued on the Construction Contract, and pay to the Developer the amount of damages as described in Paragraph 6 in excess of the Balance of the Contract Price incurred by the Developer resulting from the Contractor's defautt; or 4.4 Waive its right to perform and complete, arcange for completion, or obtain a new contractor and with reasonable promptness under the circumstances: 1 After investigation, determine the amount for which it r�ay be liable to the Qeveloper and, as soon � �racticable after the amount is determineu, tender payment therefor to the Developer; or .2 Deny liability in whole or in part and notify the Developer citing reasons therefor. 5 If the Surety does not proceed as provided in Paragraph 4 with reasonable promptness, the Surety shall be deemed to be in defautt on this Bond fifteen days after receipt of an additional written notice from the Developer to the Surety demanding that the Surety perform its obligations under this Bond, and the Developer shall be entitled to enforce any remedy available to the Developer. If the surety proceeds as provided in Subparagraph 4.4, and the Developer refuses the payment tendered or the Surety has denied liability, in whole or in part, without further notice the Developer shall be entitled to enforce any remedy available to the Developer. 6 After the Developer has terminated the Contractor's right to complete the Construction Contract, and if the Surety elects to act under Subparagraph 4.1, 42, or 4.3 above, then the responsibilities of the Surety to the Developer shall not be greater than those of the Contractor under the Construction Contract, and the responsibilities of the Developer to the Surety shall not be greater than those of the Developer under the Construction Contract. To the limit of the amount of this Bond, but subject to commitment by the Developer of the Balance of the Contract Price to mitigation of costs and damages on the Construction Contract, the Surety is obligated without duplication for: 6.1 The responsibilities of the Contractor for correction of defective work and completion of the Construction Contract; 6.2 Additional legal, design professional and delay costs resulting ftom the Contractor's Default, and resulting from the actions or failu�e to act of the Surety under Paragraph 4; and 6.3 Liquidated damages, or if not liquidated damages are specified in the Construction Contract, actual damages caused by delayed pertormance or non- performance of the Contractor. 7 The Surery shall not be liable to the Developer or others for obligations of the Contractor that are unrelated to the Construction Contract, and the Balance of the Contract Price shall not be reduced or set off on account of any such unrelated obligations. No right of action shall accrue on this Bond to any person or entity other than the Developer or its heirs, executors, administrators or successors. 8 The Surety hereby waives notice of any change, including changes of time, to the Construction Contract or to related subcontracts, purchase orders and other obligations. 9 Any proceeding, legal or equitable, under this Bond may be instituted in any court of competent jurisdiction in the location in which the work or part of the work is located and shall be instituted within two years after Contractor Default or within two years after the Contractor ceased working or within two years after the Surety refuses or fails to pertorm its obligations under this Bond, whichever occurs first. If the provisions of this Paragraph are void or prohibited by law, the minimum period of limitation avaifable to sureties as a defense in the jurisdiction of the suit shall be applicable. t AIA DOCUMENT A312 • PERFORMANC[ BOND AND PAYMENT BOND • DECEMBER 1984 ED. • AIA � THE AMERfCAN INSSITUTE OF ARCHITECTS, 17�5 NEW YORK AVE., N.W., WASHINGTON, D.C. 20006 A312-1 y84 ruion ooiniTu.ir_ _ nanoru +no� 10 Nctice to the Surety, the Develop r the Contractar shall be mailed or delivered to the address shown on the signature page. 11 When this Bond has been fumished to comply with a statutory or other legal requirement in the location where the construction was to be performed, any provision in this Bond conflicting with said statutory or legal requirement shall be deemed de{eted herefrom and provisions conforming to such statutory or other legal requirement shall be deemed incorporated herein. The intent is that this Bond shall be construed as a statutory bond and �ot as a common law bond. 12 DEFINITIONS 12.1 Balance of the Contract Price: The total amount payable by the Developer to the Contractor under the Construction Contract after all proper adjustments have been made, including allowance to the Contractor of any amounts received or to be received by the DeveloF � settlement of insurance or other claims for damages to which the Contractor is entitled, reduced by all valid and proper payments made to or on behalf of the Contractor under the Construction Contract. 12.2 Construction Contract: The agreement betwen the Developer and the Contractor identified on the signature page, including all Contract Documents and changes thereto. 12.3 Contractor Default: Failure of the Contractor, which has neither been remedied nor waived, to pertorm or othenn�ise to comply with the terms of the Construction Contract. 12.4 Developer Default: Failure of the Developer, which has neither been remedied nor waived, to pay the Contractor as required by the Construction Contract or to perform and complete or comply with the other terms thereof. (Space is provided below for additional signatures of added parties, other than those appearing on the cover page.) CONTRACTOR AS PRINCfPAL Company: Signature: �-- (Corporate Seal) SURETY Company: ( U.S. SPECIALTY N URANCE r� Signature: Name and Title: jPAUL S. DITO, Address:625 THE CITY DRIVE, ORANGE, CA 92868 Seal) ANY � _ � �� Name and �� : L. �..+ l�oc�.�.-� �j�rz�--s� �� - Address: ATTORNF,Y-IN�-FACT SUITF, ��3ti5 AIA DOCUMENT A312 • PERFORMANCE BOND AND PAYMENT BOND • DECEMSER 1984 ED. • AIA � THE AMERICAN INSTITUTE OF ARCNITECTS, 1735 NEW YORK AVE., N.W., WASHINGTON, D.C. 20006 A312-1984 THIRD PRINTING • MARCH 1987 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT _ . - - - - � - - - - � - - - � - State of c�.zFoxx� County of ORAN(�F. On �Y ls, 2006 DATE personally appeared before me, r: u � � FMILY PRECIADO, NOTARY PUBLIC NAME, TITLE OF OFFICER - E.G., `JANE DOE, NOTAFiY PUBLIC" no.59o7 NAME(S) OF SIGNER(S) � personally known to me - OR -❑ 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 ac- knowledged to me that helshelthey executed the same in his/her/their authorized capacity(ies), and that by hislher/their EMfLYPRECIADO signature(s) on the instrument the person(s), Comm'ssaia�i1361551 or the entity upon behalf of which the �,,,� i ��--co►�rom� � erson s acted, executed the instrument. Los Angeies County � p t% � My Camn�. E�i�ee .lun 20, 2008 � WITNESS my hand and official seal. ��n� �t� 4� 1 SIGNATURE OF NOTARY OPTIONAL � Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent - fraudulent reattachment of this form. CAPACITY CLA{MED BY SIGNER ❑ INDIVIDUAL • ❑ CORPORATE OFFlCER TITLE(S) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL � ATTORNEY-IN-FACT ❑ TFiUS7EE(S) ❑ GUARDIAN/CONSERVATOR ❑ OTHER: DESCRIPTION OF AITACHED DOCUMENT BOND NO. 296314 TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES DATE OF DOCUMENT j SIGNER IS REPRESENTING: ` NAME OF PERSON�S) OR ENTITY(IES) � SIGNER(S) OTHER THAN NAMED ABOVE � - — — -- - . i 1 — — -- — -- � �...� �....�..�r.��..,.��- �1993 NATfONAt NOTARY ASSOCIATION • 8236 Remmet Ave., P.O. Box 7184 • Canoga Park, CA 91309-7184 � Califom State of California � ss. County of ,�� vlc��e,� J On //Lri�� /G �� befo�e me, /1'%�/'�.,rN� �/Y1,¢�,��; �U�'T,9�2r� %�Lj$L/C 7 (bate) Name, T�IelCapacity, NStary Public personally appeared ��Er�.! �QL�JCN Name of Signes(s) � Personally known to me -OR- i ._�.�s�'•�.+l.M •�. ;,: • . , c • ��} . .� � �;�:: � .�� `,l �,;� � .: � : �.. .rf. •. � � .�� Place Notary Seal andlor Any Stamp above ❑ Proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instnament and acknowledged to me that she/he/they executed the same in herlhisltheir authorized capacity(ies) and that by heNhisJtheir signature(s) on the instrument the person(s) or the entity upon behalf of which the person(s) acted, executed the instrument. WtTNESS my hand and official seal. /i�LrL�,�� /�e� ��L�L� Signaiure of Notary Public Optional Information Law does not require the information below. This information could be of great value to any person/persons relying on this document and could prevent fraudulent andJor the reattachment of this document to an unauthorized document(s). DESCRIPTION OF ATTACHED DOCUMENT TITLE OR TYPE OF DOCUMENT PEk'�D/�'1f�it,fG'� DATE OF DOCUMENT /l'li¢5/ /S ,76d� SIGNER(S) iF DIFFER�NT THAN ABOVE OTHER INFORMATI.ON CAPACI7Y CLAIMED BY SIGNER (S� SIGNER(S) NAME(S) LD�2E/U f3LOCff ❑ 1NDIVIDUAL � CORPORATE OFFICER P2Es� � nv r- Title(s) �� PARTNER(S) ❑ ATTORNEY-IN-FACT ❑ TRUSTEE(S) U GUARDIANICONSERVATOR U OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S) OR ENTITY(lES) .�a�� 2 9H 31 � NUMBER OF PAGES ��.�::> ':::; c�>��t�r : >: TOP OF iHLMB HERE � ttr>:�rtiii�a�spaiyt ;'s�� s�� `: TOP OF THUMB HERE � Cc� 20�4 NOTARY PUf3f,(C SFMINARS SUPPLIES • REOftDER ITEiviH ACK • FAX:310-915-0147 • www.notarypubiicseminars.com BOND N0. 296314 PREMIUM IS INCLUDED IN PERFORMANCE BOND Contractor's Payment (Labor and Materials) SURETY BOND WHEREAS, the ComDvn PD, LLC ("Obligee") and Communitv Dvnamics, Inc., ("Principal") have entered into an agreement, dated Aaril 25'�'. 2006, and identified as Falcon Crest Phase 1 Imarovements - 4 Model Sin�le Familv Homes on Lots 1-4. 3 Senior Villa Units on Lot 109, and a Perimeter Blockwall, which is hereby referred to and made a part here of, whereby Principal agrees to install and complete certain designated public improvements; and WHEREAS, under the terms of said agreement, Principal is required before entering upon the performance of the work to file a good and suff cient payment surety bond with the Obligee 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, Principal and U.S. Specialtv Insurance Comanv. as Surety, incorporated under the laws of the State of Texas, and duly authorized to transact business as an admitted surety, under the Laws of the State of California, are held and firmly bound unto Obligee in the penal sum of One Million Two Hundred Six Thousand Ei�ht Hundred Sixri Seven and 62/100 Dollars ($1,206.867.62), for the payment whereof Principal and Surety bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally, firmly by these presents. The condition of this obligation is such that if Principal, Principa]'s subcontractors, heirs, executors, administrators, successors, or assigns shall fail to pay any of the persons, companies, or corporations, referred to in Section 3181 of the California Civil Code, as amended, with respect to any work of labor performed or materials supplied by any such persons, companies, or corporations, which work, labor, or materials are covered by the above mentioned agreement and any amendments, changes, change order, additions, alterations, or modifications thereof, or any amounts due under the California Unemployment Insurance Code with respect to such work ar labor, or for any amounts required to be deducted, withheld, and paid over to the Employment Development Department from the wages of employees of the contcactor and his subcontractors pursuant to Section 13020 of the Unemployment Insurance Code, as amended, with respect to such work and labor, the Surety will pay for the same, in an amount not exceeding the sum herein above specified, and also, in case suit is brought upon this bid security, the Surety will pay a reasonable attorney's fee to be fixed in court. It is hereby expressly stipulated and agreed that this surety bond shall inure to the beneft of any and all persons, companies, and corporations entitled named in Section 3181 of the California Civil Code, as amended, so as to give a right of action to them or their assigns in any suit brought upon this surety bond. The Surety hereby stipulates and agrees that no amendment, change, order, addition, alteration, or modification to the terms of the agreement of to the work to be performed thereunder or the specifications accompanying the same, shall in any way affect its obligations on this surety bond, and it does hereby waive notice of any such amendment, change, change order, addition, alteration, or modification to the terms of the agreement or to the work performed thereunder or to the specifications accompanying the same. IN WITNESS WHEREOF, this instrument has been duly executed by the Surety above named on Mav 15 , 2006. U.S. S�ci�ltv Insurance Companv PAUL � . llI� `� , flttorney-in-Fact Community Dvnamics, Inc. ! L ` L' _ . ( � � C�i �l�'L'�1 ��h,x�a•; CALIFORNIA ALL-PURPOSE ACKN�WLEDGMENT State of CALIFORNIA County of ORANrR On �Y 15 , 2006 DATE personally appeared before me, E � ; �l i EMILY PRECIADO, NOTARY PUBLIC NAME, TITLE OF OFFICER - E.G., "JANE DOE, NOTARY PUBLIC" No. 5907 NAME(S) OF SIGNER(S) � personally known to me - OR -❑ 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 ac- knowledged to me that he/shelthey executed the same in his/her/their authorized capacity(ies), and that by his/her/their EMiLYPREClADO signature(s) on the instrument the person(s), Cors►tnission s 1381551 <- or the entity upon behalf of which the = fs Notary Public — Califomta � � i.o,n„�,co„my person(s) acted, executed the instrument. tiycan�. �.,wn �, aooe� WITNESS my ha d and official seal. � � �( n SIGNATURE OF NOTARY .� �r 'i 1 OPTIONAL _ Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER ❑ INDIVIDUAL � ❑ CORPORATE OFFICER TfTI.E(S) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL � ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR ❑ OTHER: DESCRIPTION OF ATTACHED DOCUMENT BOND NO. 296314 TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES DATE OF DOGUMENT SIGNER IS REPRESENTING: NAME OF PERSON(S) OF ENTITY(IES) SIGNER(S) OTHER THAN NAMED ABOVE r�r � � i � i i 01993 NATIONAL NOTARY ASSOCIATION • 8236 Remmet Ave., P.O. Box 7184 • Canoga Park, CA 91309-7184 � California AI State of Cafifornia � ss. County of ,�� c.,�,(,�'c� �� On %1?�� /� ��1 � before me, hi�4/�7ff/f- �Yt A-U9C�Jor�n y Pr.JcS'�/� �Date) Name, T'dle/Capacity, Notary Public personally appeared L�/r,�-�J t�L�1�N Name of Signer(s) '�I/ Personally known to me -OR- �, " . . : :.��• `;u � t • • � ��r?, .., .� ` ._ ' .. ;,t. n _ � .��• Place Notary Seal and/or Any Stamp above ❑ Proved to me on the basis of satisfactory evidence to be the pe�son(s) whose name(s) islare subscribed to the within instrument and acknowiedged tu me that she/he/they executed the same in her/his/their authorized capaciry(ies} and that by herJhis/their signature(s) on the instrument the person(s) or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. .�� Signa ure of Notary Pubtic Optionai tnformation Law does not require the information below. This information could be of great value to any person/persons relying on this document and c:ould prevent fraudulent and/or the reattachment of this document to an unauthorized document(s). DESCRIPTION OF ATTACHED DOCUMENT 1"ZTLE OR TYPE OF DOCUMENT , 'S-�t,Q�"T� �itl/S � � iE � % � DATE OF DOCUMENT /yl/1��/ /S, 2Q0� NUMBER OF PAGES � SfGNER(S) {F DIFFERENT THAN ABOVE OTHER INFORMATION CAPACITY CLAIMED BY SIGNER 1S� S1GfVER(S) NAME(S) ❑ INDIVIDUAL ,� CORPORATE OFFICER P2c�i n ��--� r Title(s) 0 PARTNER(S) Cl ATTORNEY-IN-FACT ❑ TRUSTEE(S) i.l GUARDIANICONSERVATOR ❑ OTHER: SIGNER 1S REPRESENTING: NAME OF PERSON(S) OR ENTITY(fES) .: `��Qi.:>': ; R�'= 3:�� : �:��w��t�: :: �src�� ir�. ' TOA OF THUMB HERE TOP OF THUMB HERE e O 2004 NOTARY PUBLIC SEMINARS SUPPLIES • REORDER f('t:M�t ACI< • FAX:310-9I5-0147 . www.notarypublicseminars.com �4,k, = � � _ _ _ = _ -� � � � _- __ _� � -_� �.= � i Y{ � � �y �`�� ,� . �� =: — = -= — 1 1 y� _ —� � _� 1�4S1 ��.. � — — - h�' � �I Ik �i� � � '= — _ :� _ �` I� 4��. h"h�ii��' -- -- - _ - - . � ��,x� �� .,� - = - - �-�- �� TT �� _� �� . -- -�� -��- �s nds issued on behalf of U•S. SPECIALTY INSURANCE COMPANY) �=`�� - = Rnow AU Men bp These Presents That, U.S. SPECIALTY U COM any"), -T �� - or anized and e' er the la exas, �� '� g ��al o 's Coun , '�€as��by = = hese pr , ute an �� :� _ �- h , aul S. Dito, Kim Heredia, Edith Garibay, Paula o i ende ia �� -_� � � � � � wful with fu 'ty he con erred in its name, place and stead, to execute, d de 1 nds, recogmzances, undertakings or other instruments or contracts of sure ship to � u e riders, amendments, aad consents of sarety, roviding h - nal � ceed s*s+**•s*•**•*s�:�ourMillion*�'s�s•**+*s******: *4,000,0 bind �e y as fully xtent I'Ri�'�' si sealed t eal o e ompany and duly att here rmin mey-in-Fact may do in the premises. Said appointment 4 is m authority o e ollowing resolutions of the Board of Directors of the U. S. Comp�� Be ft Resolved that the PresideM, eny Vice-Prosiden i i sident, istant S� reby v power and authority to or re sui }in-Fa end on be e y subject to the following .� � y Fact ma uthority for end in the neme of end on behalf of the Company, to execute, acknowiedge and d'ver 1 bonds, _ , contracts, agrcemems or indemnity and other conditional or obliga w�d ings end 1 docum ing the � Company's liabdity thereunder, and nny such ' men executed -Fact s om sident and sealed and e Cotpo ' t z� B e o seal o fore or hereafter affixed to nny power of attomey or any certificate relating �� power o or rt� cate bearing facsimiie signatwe or facsimile seal shall be valid end binding upon the Company with respect to z�= any bo or undertaking to which it is attached. (Adopted by unanimous written consent in fieu of ineeting on ]uly 7, 2003.) In Witness Whereof, U. S. SPECIAL'1'i' INSURANCE President, and its corporate sea �� f c;ali � _ �� s COMPANY has caus e o be si ��ice �� '1, 2004 �� .S. SPECIALTY INSURANCE COMPANY � —�--��-__--,��--c � �� —_ _ - � � (�Loy� , t �8�65 SS: i Robert F. Thomas, Senior ' e � � �� • � Apfi! = ides � p scribod said instrument is such i me th� � � Seal �� , �Qnally as, � o, eing by me du y sworn, did depose in �It'1lfrni �� entor Vice President of U.S. SP URAN �, in and which executed the above instrums • the s that th �c�pQ„rate seal; t '� d by � f D' y; and e s�gn � � � � � N41aiY � � � � 14Q6149 '`�` �/1 �Public� � �� ne _ � � � '�� I Jeannie Kim Assi tant creta a TY NY the a�a� for� o�n , , � rY , �� g � , 's a true -� a Po uted ' , which is still in full force and effect; furthermore, the ��solutio -_� �'�rectors; s out in the Power of Attorney are in full force and eftect. �= c_ �_- d i ' ' �` � � .`.�_' � In W itness Whereof, I have hereunto t my ha eal of �s An 15 t�� =__ � °�-�� - �a�� -� == _ _ � - - -� = � � - ��_ _ �==_ Corporate Seal P t�.� _ _- � �° -� _ � � � � � , . �. T �-� ��,-� - F �.�, _--__ � t� � = _��_ � � � a� ��, = =_ -_ = ' .y. 3eannie Kim, Assistant Secretary � -- _ - �� I � � �� " �_ � �' ', `,, � � ki� ��i� 4p, j�l ��1�1' ,�li,' ' - _ - - � - =296314 =� � =� � ;� � �� _ _ �� , •�,,,��, � „t . ��„� � � _ _ - - _ -- _ - - #900� --�_� �� - � - �c --_ _ _ -� - ronii�niaos _ �= � - ��= - - — -_ - � —_ ` � .... �ar� F�� .��11��4ih� ��i� ��'��11iE41i�l4�ih ki4kll�fi =_ = _ - = � . r" ..:...�:..�.r..r.,:__...�...., .._.x._ .4.,.�....�._.�_..�.�.._�.,.:.s.�..mn.�....u-..�,...�...,..._._�.,.:..�...,,�a+,W..�... 'fi."'> ,.� . ._,,,�...............,.,.�ms..,.e....�..� U. S. SPECIALTY INSURANCE COMPANY 9841 AIRI'ORT BOULEVARD, 91'll 17.001� I,OS ANGI;I..I;S, CA 90045 (310) fi49-0990 .��: , o .. J BOND NO. 296314 PREMIUM $00.00 MAINTENANCE BOND KNOW ALL MEN BY T}-IE5E PRE5ENTS, That we, Community Dynamics, Inc. (hereinafter called Principal), as Principal, and U. S. SPECIALTY INSURANCE COMPANY, a corporation, organi�ed and existing undcr the laws of the State of Texas and authorized to transact a general surety business in the State of California ,(hereinafter called Surety), as Surety, are held and firmly bound unto _ ComDyn PD, LLC (hereinaftcr called Obligee), in the sum of One Hundred Twenty Thousand Six Hundred Eighty Six and 76/100 DOLLARS ($ 120,686.76 )� lawful money of the United States of America, to be paid to the said Obligee, or its successors or assigns, to the payment of which sum well and truly to be made, we do bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. WHEREAS, the Principal entered into a contract with the said Obligee, dated Apri125, 2006 , for Falcon Crest Models Phase - Four (4} Model Single Family Homes, Three (3) Senior Villa Units, and a Perimeter Block Wall and, WHEREA5, the Obligee requires that this bond be executed on or before the final completion and acceptance of said contract and WHEREAS said contract was completed and accepted on the of October � 2007 11 th NOW, THEREFORE, THE CONDITION OF TH[S OBLIGATION IS SUCH, that if the Principal shall remedy without cost to the Obligee, any defects which may develop during a period of One (i) Year from the date of completion and acceptance of the work performed under the contract, caused by defective or inferior materials or workmanship, then this obligation shall be void; otherwise it shall be and remain in full force an:t effect.. SIGNED, SEAL�D AND DATED THIS i lth DAY OF By: _ i By: day October , 20� % . , Community Dynami , lnc. - -- i'rir►�ircal .--- ---�-- SPECIALTY N�i�RANCE COMP��NY � �yi''f Daniel Huc , Attorney-in-Fact .. .. ._ .. � I ICCS%l222l310iU5 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT Arturo Ayala, Notary Public Name, Title of Officer- E G"Jane Dce, NOTARY PUBLIC" State of California County of Orange On 10/ll/07 Date personally appeared 0 personally known to me •� da.�._.c,._cr....:�._ �._,� .�.,.�....:.� �' tl1�=�Ti�RCi AYALA„ �� `�j�.�:,: �: C4�L;t�n. ,�1636549'� r� .. U� ::rd�-, ::.:` � � -�' s U G�'� ' `"�`!'1�:r�t�UTA�;` F��LIC—CAUFORNIAU p`` . '�-3��„%, Q �Ai`lGi: CGUNTY ►j y�,i�..��,� ;;, r;;?:!'a F: ;'. J,?td. 10, 2010 j' f.��.�.` r�:; — __�._.:.F.'�,,....,,.. „ � � NAME(S) OF SIGNER(S) ❑ 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 person(s) acted, executed the i�strument. WITNESS my hand and official seal �.�'� J ��`� SIGNATURE�F NOTARY OPTIONAL � Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent ' fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER � INDIVIDUAL ❑ CORPORATE OFFICER TITLE(S) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL 0 ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR ❑ OTHER: S4GNER IS REPRESENTING: NAME OF PERSON(S) OR ENTITY(IES) DESCRIPTION OF ATTACHED DOCUMENT Maintenance Bond TITLE OR TYPE OF DOCUMENT One 10/11l07 NUMBER OF PAGES DATE OF DOCUMENT SIGNER(S) OTHER THAN NAMED ABOVE before me, Daniel Huckabay CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT , _ ^ ��,._ �- :-- :_-�.��'„5;<�C�i'_, y . ....C�;.'��'�_.�"4'��5a6�=s.tL�';�G'�'��:.t..�_�.��"�'ti�._�E_�<'5�.�:.i,^_�S.t;�4"i!�"_�, . '._ ., �' _ �. � ..-. .: .. _ _.. ._ . .. _...- - . <',1�. State of California County of < a �S s� �'��-�.�5 \ �n o c.T �r .2os7 before me, �'�'�'�oL �ff Et'JF�•••-�+-� �eT•.�ry �a6c � c. Date Name and Title ot Otticer (e.g., "Jane Doe, Notary Publk") personaily appeared � ��F�'1� 'Qc o-c � Name(s) ot Signer{s) C personally known to me RANDOLPN EDFLMAN � '" '�� Commission # 16101� Z ; »u; � � Notary Public - Calitornla � �,�., � ' �! . LosAngelesYCounry My Comm. Expires Sep 30, 2009� �o .� �ur rn� .I, Place Notary Seal Above �or proved to me on the basis of satisfactory evidence) to be the person(s�-whose name(s� islare�subscribed to the within instrument and acknowledged to me that he/she/#�iey executed the same in hi edtheir authorized capacity(ies�, and that by t'�,�(h�e4r signature� on the instrument the person(s�; -er the entity upon behalf of which the person(,�acted, executed the instrument. WITNESS my hand and official seal. Signature?� a``G�rn��rr''E �'�'��'`'� Sig re of Notary Public OPTIONAL Though the intormation below is noi required by law, it may prove valuable to persons relying on the document and could prevent fraudulent remova/ and reattachment of this form to another document. Description of Attached Document Title orType of Document: �Ll �-�'y T'�"�'9•'�' c��O ''� '� Document Date: G c T/� 2p� ? Number of Pages: Signer(s) Other Than Named Above: �6 �' � Capacity(ies) Claimed by Signer(s) Signer's Name: �. �t ��' �� G� Signer's Name: O Individual � Individual �rC'orporate Officer — Title(s): �� ' 'Or'''T J Corporate Officer — Title(s): �, Partner — u Limited � General �.� ,,.. , G Partner —'� Limited ❑ General Ci Attorney in Fact s'3�� ❑ Attorney in Fact � Trustee L7 Guardian or Conservator C Other: Signer Is Representing: � o /�a � � �Y• � �Ol�N�4�t � cJ / •/Y G— Top of thumb here � ;�,�, ��x. ,`�Y � =y�,;,��/�.� �� Trustee ❑ Guardian or Conservator G Other• Signer Is Representing• . � , .... , . T of thumb here cscCt�"c.c:. %c:•c:rc�tC� v'��.'�G"�C`"-4��.'5�.. _-�w•:•..•.�.ww�-�.wwwwwwwwwwww��'tiC.'cp.a:.!Gcc: �,•_z m 2006 NaLo�al Notary Association • 9350 De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313-2402 Item No. 5907 v609 Reorder: Call Toll-Free 1-800-876-6827 e..,�..�..,.«__.�.�.,_��>...�.�.__�.,..w..d>.��._,�.._L.�..,_�_�,..�.��...�.�...�.�1,...._,..___�__.�._.,�.�..�...�..�..�._.w.,..._,...�_.�__�..w��_ ._w_..._� �.O U. S. SPECIALTY INSURANCE COMPANY 9841 AIRPORT BOUI.EVARD, 9'I71 FL.00F� I.OS ANUI:LiiS, CA 90045 (310) 649-0990 FAX (310) G49-041G MULTIPLE OBLIGEE RIDER � . � ; ; ; � i � � 7 �7 3 3 � 9 � s a � .._ ttached to and form part of Sond Number 296314 .S. Specialty Insurance Company Community Dynamics, Inc. ComDyn PD, LLC as Surety, as Principal, and as Obligee, for valuable consideration, hereby agree respectively in connection with a contract for Falcon Crest Models Phase - Four (4� Model Single Family Homes, Three (3) Senior Villa Units, and a Perimete� Block Wall which bond and contract are made a part hereof by reference, shall now include as additional Obligee(s) Palm Desert Redevelopment Agency This bond is subject to the condition that no Obligee shall have any right or action greater than those of any other Obligee and shall be subject to all offsets and defenses, however arising, which might be available against any other Obligee, their agents and representatives, in addition to any offsets or defenses that might be available against themselves. In no event shall the Surety be liable in the aggregate to the Obligees for more than the penalty of this bond. At Surety's election, any payment due to any Obligee may be made by its check issued to the Obligees jointly. Neither the execution nor language of this instrument, nor any previous negotiations, shall be construed as relieving any Obligee from the due and timely performance of such obligations and duties as he, or his agent or representative, may owe to the Principal or the Surety under the contract or bond. WITNESS the following signatures and seals this Community Dynamics, Inc. Principal) By: ( ame & Title} +�-� �le c�, j � � d.e�.�- 11th day of October 2007 YEAR . . LTY INSURANCE COMPANY (Surety) � �f` Daniel uckab� (Name & Title) . ,_. ._ . -_ . . . cna�atsoa,ne CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of Orange On 10/ 11 /07 Date personally appeared � personally known to me •• �-'=-�� _,�.-.�...�._ _�.�.� � _.�,.., �tr.�. : � YI(i �i ?�`'��;,. � �: � U f M � G ! `A ,� jy� � 1 J �.t�r,� '�-�'; .;, NO�QRY PIJcL(�-CAL!tEIRMIA� . �--� . �� ,�., - ORAR� G, ��, �,,,_ C GE CC��fJTY :�_,F„� � r.�r cnti"... EYn. J�(!. i�. 2010 Y , - -�-.. �• -�..:-.,o;,.,er-1 Arturo Ayala, Notary Public Name, 7itle of Officer- E.G. "Jane Doe, NOTARY PUBLIC" NAME(S) OF SIGNEf2(S) ❑ 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 hislher/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 person(s) acted, executed the instrument. WITNESS my hand and official seal �� SIGNATUftE OF NOTARY OPTIONAL � Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent ' fraudulent reattachment of this form. ' CAPACITY CLAIMED BY SIGNER � INDIVIDUAL ❑ CORPORATE OFFICER DESCRIPTION OF ATTACHED DOCUMENT Multiple Obligee Rider TITLE OR TYPE OF DOCUMENT T17LE(S) ❑ PARTNER(S) ❑ IIMITED ❑ GENERAL � ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIANlCONSERVATOR ❑ OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S) OR ENTITY(IES) One 10l11 /07 NUMBER OF PAGES DATE OF DOCUMENT SIGNER(S) OTHER THAN NAMED ABOVE before me, Uaniel Huckabav CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT - ..��-(:_�e:.�' �S �; _'�r �:�.Si:<ti�. i �"��.Y�S`�"�C� �ti6:�'C'�C:•��:�.:� -StG�S�i:�SL:�'�Si��'��e:1�G:_ i;�-� _'��.:�• '•. _ .. .� ..�. • � . F=-. _. . --� - State of California County of -l°"s A�L��'s On a'' � T'� 2s•� before me, /�'f"��4' c�N �0��.-�. -+-r nieT�rY s'$ .a c. -� Date Name and Tltle ot Ofticer (e g., �ane Doe, Notgry Public") personally appeared � o�E'r ��oc rl RANDOLPH EDELMAN ��'^"' ' . Commisslon # 16101 �8 Z , -� � Notary Public - California � ] ry� • � los Mgeles County ' My Comm. Explres Sep 30, 2�09� I i ' I III .'•I I' .I� •!.�' ii tl'YL� Plece Notary Seal Above Name(s) of Signer(s) � personally known to me '?'(or proved to me on the basis of satisfactory evidence) to be the person(c}whose name(�is/aw subscribed to the within instrument and acknowledged to me that he/sF�sl�ey executed the same in �j�/herlthe�r authorized capacity(ies3, and that by qistheN##aeir signature{s} on the instrument the person(a}; or the entity upon behalf of which the person�}.acted, executed the instrument. WITNESS my hand and official seal. Signature � ��"~ Slqnature of Notary Pubhc OPT/ONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent iraudulent removal and reattachment of this form to another document. Description of Attached Document Title orType of Document: �'t � rTi/�CF D� <<GF��.�a��C Document Date: � �- T�� Q7 Number of Pages: l Signer(s) Other Than Named Above: �� ''y � Capacity(ies) Claimed by Si ner(s) Signer's Name: ��'r �� `c � � Individual 8—Corporate Officer —Tit1e(s):/'�/l�� d�''� T � Partner — G Limited C General y�r�� Attorney in Fact rop�� b'+�ie� ❑ Trustee C Guardian or Conservator ° �� ❑ Other . Signer Is Representing: ? .� .,.:� l�.a /�'i /6/ �t� r TY �Q y�Y�t�• cr � �� Signer's Name: C Individual r'� Corporate Officer — Title(s): � Partner —� Limited n �ono■ai � Attorney in Fact ❑ Trustee ❑ Guardian or Conserv, ^ Other• Signer Is Representing: „_;c:<-r __.,v �_>,�_';c�:�To.%cG�ti �;��T'v�G"�:'G�+.www�.,k.�.��•�-w�-�-�-^.�C•www � 2006 National Notary Association • 9350 De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313•2402 Item No 5907 - POWER OF ATTORNEY � �:�� ' � -- _- : (To be used with bonds issusd•on beh�lf of.U.S. SPECIALT�' IN�URAI�i�� QMPANY) Know AU Men by These Presents Tli�t,:,•U.S:,'SP�CIAi,"TY`� IN�URAN��=�D�PA�i' �e ;�s�pany"), a corporation duly organized and existing under the laws of tlt�'State",of Texas; an�`liaving its prec�c�pal bfft�e ►n ��s��j Harris County, Texas, does by these presents make, constitute and appoint �- , :..'�{�lph Eide� J1:�D�3ie1°�u��sba�r;'i�r_Arturo Ayala of Orenge, California - its true and lawful Attorney(s)-in-fact, �tl� fuil=-po�uver =a�id sut�iority hereby confetred in its name, place and stead, to execute, aclrnowledge and deliver any and all bonds, recognizances, undertakings or other instruments or contracts of suretyship to ine�ude rl�ee� amett��ents, and consents of surety, �roYidipg -#[ie boud .-penalty d�s == not: --:�excecd :_- -_ __ -'**'��a��vli�toA-'�** Dollars ($ " * liQ(1�;000�;p0 ***'.��anfl to bind the �-orr�iar�_thet�y_as ' _ fully_�d to��rr►�;cxte3nt�s if such bonds were signed by the President, s'`e�ltd wjt3i,iht corpotate seal of the=C9mpan�r�d-duty =_ attested by its Secretary, hereby ratifying and confirming all that the said Attomey-in-Fact may do in the premises.- -Said appointmerit is made. under and by authority of the following rgsolutions of the $oard of I?�rectors of the U. �, Spe�cialty Insurance Company: - - _ . .. . , . ..•, ,,: •== --=- ======- -=== =-====- Be it Resolved thaf.the President, any, Vice-Presiden{, any�Assist�ht Yice-Pree,iaent; any Sec�s�f a�Assis�n��cr�daFy s�all be and is hereby vested with full powar and autkoriry to �appoim any qne or more syitabie petsons ass�lttOmey(srin-Egbt to repreaeil�and a�t#'oratstl ��iehs�of#f�e Company subject to the followiog proviaions: - . _ , : �,'. : -=-=- -=-= — _ _-_= Attorney-ui-Fact may be given full power and authority for and in the name of and on behalf of the Compeny, to execute, acknowledge and deliver, any and all bonds, reoognizetices, coqRacts, agreert}enu or indemniE�nd�ther cQgdigon�_er- ohl�atQry undertakings and any and all nptices and documents canceling or terminating the Company's liability'thereynder _attd any such inst�utr�i� so�x�d.�e�n�t�tT��ttomey-��=Eact s�ial� be biriding=upon the Co�npany as if signed bq the,Preside,�t and sealed and,el�ected by the Corporatq Secretarg�- _ =- _ _- `__= __ `; _;_ ' . . , . . - � Be it Resolved, thal the signatute of any authorized�f#icer-��10�� Coe��y heretofore'orljereafteX aFfjxdd So apy power of attomey or any certifiGace relating � thereto by facsimile, and any power of attomey or certificate bearing facsimile signature or facsimile seal shall be vafid and binding upon the Company with respect fo anX_bondgr undeat�king to �yhichit is attached. (Adopted by u►#8nimous writtgn consent in lieu of inegting on.July 7, 2003.) _ __ ___ _ _ - r '-i �,-�`r.. �;' �'.::=�� ' � �' � � - In Wit�tes� �i'hef�o� U�_ S�ECIALI?�.' .I,�±1SUItAI�i�':�:�011'IPA7VY has caused tlitse presents to be �igned by its_ Vice 1'reSidea� - and �ts`corporate�ea� #p ti�hereto affixed ,ttJ�s 1 Sth, day of .January;:2007. • ' - _ _ _ _ _ _ - - _ _ -_ _ = _ - - Coipocate Seal ' , U.S. S�I.4�L'I`-'� I�I�AIVCE COMPANY . . � .. �• � . B "__=_ __=, _=_ = __=- - , . - , � T � �. y ==___ ==_____== -= -_____ -= = _�= {= - _=_ ====-- : .��.. ----- State of California =__ -=- _- _=- _=== _==-__- • .. . _ County of Los Angeles ss: __ =- `-___--- =_= =--__ - . ��Ada�m S:,PesSfn,�Viice President � -=_= =_=__` ___ -____ , �J. ;, i:, Orithis=�9t�_t�ay-of ��ua�; �007 before me_peraonally ��me Adam S. Pessin, to me ,Iqt�wn, vsrho, being by me:duly_s�vomrslid .__ ___ dispo��ut=say#�at he r�idr,� in Los.Angele�,,Califortlia� that he-is Vice�Pre�iden� of tiT;S: 3�ECIALTY INSE�RANC��O(4�t��1', ` .� , � _ _ the;��npan�:daserits�� iri`��vhich exGcu;ted the.aliove; �nsttt�mciit; that he,�kgows�,the,s�l of said.,Company; t��he s�al �xes��o==_ said instrument is sucf� coi'porate seal; that it was'so affiYced liy order of the �Board af Directors of the Company; �and tfiat=fie signed- `= his nar�e thereto by like ord.er. t. ,�: : .Y _ _ __ _ ___ _ _ _ _ _ � ``�' " ' � -_= ==- _==-=- -== - ===- , . . . . . � . . - .�l♦ �5..� i� �' .. : ___ ___ _- _ - _ _ " . . ' r� i: `��' �a'_� __ _ ___ �,__�___. - _. -__ _- No ; Se�f • , . _ , t� �vE.�;�oU' K `:�;�• =.�� '==_ _= =_= =� Notaty Public . ' � ,. � , �' � . � . •:-� � , � � 'i�s�m. t�Y%,-J � 5�i} �•'�'�._` _-_= '_-_� _ _" � . " ' - r:6�i,rnauei.�c:ciu�o�� o�`` `" '=-My c�irtst�iissrf�i ezpires June 29, 2009 � �os�wa�scouNn � - - ., � ,�., '� Coatn_. Ex�-��. �- = _- �' . - -_- - — - -__ . - hih.� _ - _-- ___ _-_ __-- ------ • . . . . . . , � . � ___ ___ _ ___ _ __ _ ___ . _ . •• • �`i -.�1 -____ ___ ___ ___ ___ , - � ' I, Jeannie Kim, Assistant Secretary of LT: �. SPE�T�LT��IVSt�1tANCE COMPANY, do hereby certify that the above and foregoirig is=a true and�arrect_c�py_Qf a Power of Attorney, executed by said Company, which is stil] in full force and effect; furthermore, the resi�rlu#�ons i�th�:B�+a�il �i��ctors, set out in tlie Power of Attomey are iq;�ull�'orc�,and�effe�f. ;,r�:'•:,, ___ __ -.-°=- __`_ _=- '_ _ _ _ - � r �.: . ; •.•' _ - In �P�ess Lt�Ftet'eof, k h��#tereunto set my hai�d at�d affixed the seal of saici C;ompany,�f L°oR5 A}�g��es, Cal�forn�a this 1_1 tn ��y _, of October , 2011Z• --- -- �•,, - _ ': ,y' � , , ., ;;- _-; Corporate Seal y5Q ��q<�.` `: �`�;';,.�;;° = J' T Z��.. • . • � , y � N . . . . '.-;Y + `=' _--'_--- "_ _ ;_: . . ' a �-:�� ;_=_ = ___ - =_ ___ =_ _=`; BondNo. 296314 '� �• --= -` _=- == -' =- Agency.Na,. : 8472 = :__ � _______ _��►�-�-{� Jeannie Kim, Asslstant Secretary � -- -_ = ronitiniaos . _ �,..,.��........_..p.,.�_�._�... ,_..,a..,,..o............�..m..�..y._.__�....�� .�._�...ti....�.�.,,.......��..�.��,..�.�....u.�.�.._�.>_�_ r...N..ti.___.�... � U. S. SPECIALTY INSURANCE COMPANY 9841 A[KPOR7' BOUI,EVARD, 9T11 FLOOFt, LOS ANGGL�S, CA 90(MS (310) 649-0990 BOND NO. 1000750426 PREM[I1M $00.00 - — — --- - MAINTENANCE BOND ComDyn PD, LLC KNOW AI,I, MF,N F3Y TIiESE PRESENTS, That we, Community Dynamics, Inc. (hereinafter called Principal), as Principal, and U. S. SPECIALT'Y INSLTRANCE COMPANY, a corporation, organized and existing under the laws of the State of Texas and authorized to transact a general surety business in the State of California ,(hereinafter called Surety), as Surety, are held and firmly bound unto _ (hereinafter called Obligee), in the sum of Six Hundred Ninery Four T'housand Five Hundred Thirty Five and 63/100 DOLLARS ($ 694,535.63 )� lawful money of the United States of America, to be paid to the said Obligee, or its successors or assigns, to the payment of which sum well and truly to be made, we do bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. WHEREAS, the Principal entered into a contract with the said Obligee, dated April 10, 2006 � = for Falcon Crest Phase I- 7'wenty Nine (29) Single Family Homes, Twenty Four (24) Senior Apartment Units, and One (1) Senior ; ; Villa Community Building � and, � WHERCAS, the Obligee requires that this bond be executed on or before the final completion and acceptance of said = contract and - WHEREAS said contract was completed and accepted on the l lth day of October 2007 � NOW, "I'HEREFORE, TtiE CONDITION OF 'I'HI5 OBLIGATION IS SUCH, that if the Principal shall remedy without cost to the Obligee, any defects which may develop during a period of One (1) Year from the date of completion and acceptance of the work performed under the contract, caused by defective or inferi��r materials or workmanship, then this obligation shall be void; otherwise it shall be and remain in full force and effect. SIGNED, SEALED AND DATED THIS >>th DAY OF October 20G� °--- - - Community Dynamics, c. Principsl By' - � �,----- U. 5. SPECIA NSURANCF, COMPANY By' a � � — Dani abay, Attorney-in-Fact .� . � � .. .....�.�... . .... � . .. � , i f ICCS%7222R I(1/OS CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of Oran�e On 10/11/07 Date personally appeared 0 personal{y known to me •• �_�_.�, .• ,. �..-=- ,. ,. ,. ,. ,. _ ��` ��E��'� A� T U F r� A Y A L A� � EUf.2Kry �j � .��;� �' CONiM. ;.1636549� fi� • � ��l?�� NOTARY PU �I.IC-G,n.:.IfORNIAU : �I"��,�% Cr ',fdGE CG:_�f`ITY N ``��,� i�.1Y CG�1%;,?. EY,P. J:�: 10. 2�0� �.�°yr'�Cn"�n'.d..��q�w. � .., V Arturo Ayala, Notary Public Name, Title of Officer — E.G. "Jane Doe, NOTARY PUBLIC" NAME(S) OF SIGNER(S) ❑ 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 perso n(s) ac te d, execu te d t he instrument. W{TNESS my ha d and official seal � � � � � SfGNATURE OF NOTARY I OPTIONAL Though the data below is not required by law, it may prove valuable to persons �elying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER � INDIVIDUAL ❑ CORPORATE OFFICER TITLE(S) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL � ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR ❑ OTHER: SIGNER {S REPRESENTING: NAME OF PERSON(S) OR ENTITY{IES) DESCRIPTION OF ATTACHED DOCUMENT Maintenance Bond TITLE OR TYPE OF DOCUMENT One 10/11l07 NUMBER OFPAGES DATE OF DOCUMENT SIGNER(S) OTHER THAN NAMED ABOVE before me, Daniel Huckabav CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT _�... .._.._...:.._.__,� - � - • ..S:C.<: >' ^.. •. � ,..� ;_ :.. �-='!t�.'S°'<.-L`�i.`�:c__i'S`�'tiS_f':G�� . �^:YTi�'!�i��'':.�Y�.^.;�.'S;S`��.�=��5�.��. ^v . __: �'S.'".Sl..ti`.':-- ;_�:i:_ - State of California County of �� s ��F��s On oe.T. C'�' .2��7 before me, ��•dc�.�6� �'lE<,•.-� .n�T•s�y � dc<<, Date Name and Title ot Otficer (e.g., "Jane Doe, Notary Public") personally appeared '� Q'2�� c o c ti Name(s) ot S�gner(s) RMIi?OLPH EDELMAN �' '� Comm)sslon # 1610108 z;-es g Notary Public - CaliforNa � � • - � , los Mgeles counSy N My Comm. Expiros Sep 30, 2004� � , . ,. .� �� , � Place Nota�y Seal Above OPTIONAL Though the intormation below is not required by law, it may prove valuable to persons re/ying on the document and could prevent fraudulent removal and reattachment of this form to anothei document. � personally known to me �-(or proved to me on the basis of satisfactory evidence) to be the person fs�}�whose name(s� is/afe-subscribed to the within instrument and acknowledged to me that �e(she�tlaey executed the same in,jy�(her/tl9eir authorized capaciry(ies), and that by h�, is/herkhei� signature(�on the instrument the person(�, or the entity upon behalf of which the person(a�-ncted, executed the instrument. WITNESS my hand and official seal. SignaturP �� nature of Notery PuWic Description of Attached Document Title orType of Document: �/��7'��'�' << 'Qd'y0 Document Date: � � � !! 2 ac7 Number of Pages: � Signer(s) Other Than Named Above: i'YQ .�v �- Capacity(ies) Claimed by Signer(s) Signer's Name: '� �'��'Y �� « Signer's Name: �- L= Individual � Individual �orporate Officer — Title(s): /°� �"�E"t %� G Corporate Officer — Title(s): '7 Partner — � Limited '-' General , , . � Partner — � �imited C General , , . �, , C� Attorney in Fact .' � ❑ Attorney in Fact ' ' Top of thumb here Top ( thumb here C.-� Trustee ❑ Trustee L' Guardian or Conservator O Guardian or Conservator x�• -,-. J Other: �, Other• Signer Is Representing: -'��; `'��.- Signer Is Representing• � � -� ..�. w-v: 7"i� �DyN�V'►��J # -:�� . , .v � ' �"�:-;:'`� v;'=rcrc�'c%G�:�:�.'c�s.ti�w�-r.��w�-�C�u.�-�vww--G�G�vwwww�x�'."-rC�G��.www�•w��C.�' r'��G'-� � 2006 National Notary Association • 9350 De Soto Ave., P.O. Box 2A02 • Chatsworth, CA 91313-2402 Item No. 5907 v609 Reorder: Call Toll-Free 1-800-876-6827 ¢rnteu.�sel.4.._...1.�...1.�.«.`....��'.sa....._.�...wa�3...L..v..u.........tik...a...ti.e...,..i.��.`�,afe.:..�.ste'.�_..,...�...J�s.'asi.aim..ar....._:u.Auwi.....d...i.m1�+....sW.eidaae.`.ie..a�s.Wul��ta..u�•:•••• isu+..ocs3.'v.Yse.:...eue..adm+J.um.:-+wai[r1.u.:e' O U. S. SPECIALTY INSURANCE COMPANY 9841 AIRPORT ROUI.F.VARD, 9T[i FLOnR, LOS ANUGL�S, CA 90045 (310) 649-0990 FAX (3 t0) 649-0416 MULTiPLE OBLIGEE RIDER To be attached to and form part of Bond Number 1000750426 with U.S. Specialty Insurance Company Community Dynamics, Inc. ComDyn PD, LLC as Surety, as Principal, and as Obligee, for valuable consideration, hereby agree respectively in connection with a contract for Falcon Crest Phase I- Twenty Nine (29) Single Family Homes, Twenty Four (24) Senior Apartment Units, and One (1) Senior Vif{a Community Building which bond and contract are made a part hereof by reference, shall now include as additional Obligee(s) Palm Desert Redevelopment Agency This bond is subject to the condition that no Obligee shall have any right or action greater than those of any other Obligee and shall be subject to all offsets and defenses, however arising, which might be available against any other Obligee, their agents and representatives, in addition to any offsets or defenses that might be available against themselves. fn no event shall the Surety be liable in the aggregate to the Obligees for more than the penalry of this bond. At Surety's election, any payment due to any Obligee may be made by its check issued to the Obligees jointly. Neither the execution nor language of this instrument, nor any previous negotiations, shall be construed as relieving any Obligee trom the due and timely performance of s�ch obligations and duties as he, or his agent or representative, may owe to the Principal or the Surety under the contract or bond. WITNESS the following signatures and seals this 11 th day of October � 2007 VEAR Community Dynamics, Inc. (Principal) By. � �` � � � h�� ,(Name & Title) �.�,. � c t' ��,�� U. S. SPECIALTY U NCE COMPANY (Surety) � i', Daniel Hu abay � (Name & Title) � � . , ,� . ... .� _� � ��. .,. , .. . �... CA474Li(14/06 CALIFORNlA ALL-PURPOSE ACKNOWLEDGMENT State of California CoUnty of Oran�e On 10/1I/07 Date personally appeared � personally known to me •� •�� .:�.� _.,s..�„--,s �.,,, .... �. ,. ci �y�,U '��, ��CU�liV1��1G�&549� U1��'"-�; - ;.� (/ Cn r••�� ' �.`• � t�i•�:1(�.f;Y FUE:ItC-CA�IfORNIAU ;,�\ ;`'.t��,'„''� OR�.P!vF COI;(�STY �. y \_: .�,. ; r�y �O��i�:. r;�?. .1RW, tr. 2010 J-v-�;=�� , . . - � - -�. . • � Arturo Ayala, Notary Public Name, Title of O�cer - E G. "Jane Dce, NOTARY PUBLIC" NAME(S) OF SIGNER(S) ❑ 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 person(s� acted, executed the instrument. WITNESS my hand and official seal > �� SIGNATURE OF NOTARY OPTIONAL Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER � INDIVIDUAL ❑ CORPORATE OFFICER TITLE(S) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL O ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIANlCONSERVATOR ❑ OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S) OR ENTITY{IES) DESCRIPTION OF ATTACHED DOCUMENT Multiple Obligee Rider TITLE OR TYPE OF DOCUMENT C�Zt:: 10/11 /07 NUMBER OF PAGES DATE OF DOCUMENT SIGNER(S) OTHER THAN NAMED ABOVE before me, Daniel HuckabaV CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT f.'"�S1 :. '<:•_ �;;r."' ;�^S 1,;.r:.�'..'i.:-�'��G`,_i.L��("�'...r"�<�:S.i'^y�i�_�.'`"_1t�.�GS�h.�'.4'i�C`�5.�:�`,"�{'.5:,�!;"� � - -� . ' - - ' i - ._.1:1.� .,.._.^'s'_..,_v.��..'.:C•:C' .- - - .. .. ... State of California County of �CUcS ��C'�s On oc.T, �y dtoo� before me, ��--%do��'ff �'i%F"L.•'�r-t-� �oT-r�y ��t.� Date Name and Tltle of OHicer (e.g., "Jane Doe, Notary Public") � personaily appeared Lr� � F''y �� Name(s) oi Signer(s) o � is � .R a�+�c:� RANDOLPH EDELMAN� L%�'~"''��, Commission # 1 b10108 Z r;r=se ^� �g � Notary Public - Cql(fomia � � � � • los Angeles County My Comm. Expires Sep 30, 2009� I �. i� �. �. i �� . ,�J N� � i i.. Place Notary Seal Abova � personally known to me .�-j'br proved to me on the basis of satisfactory evidence) to be the personEs}�whose name(c� is/aresubscribed to the within instrument and acknowledged to me that ,,�/she�t��ey executed the same in I�hedtheir authorized capacity(ies}; and that by J�/herftheir signature(e} on the instrument the person(s}; �er the entity upon behalf of which the person(s}acted, executed the instrument. WITNESS my hand and official seal. �� "�� l Signature � c� Sl�nature ot Notary Publ�c OPTIONAL Though the information be/ow is not required by law, it may prove va/uable to persons relying on the document and could prevent fraudulent removef and reattachment ol this form to another documertt. Description of Attached Document Title or Type of Document: �'t G� G�%� �C �' Q��i �� OF� Document Date: B � T / � .�06 7 Number of Pages: Signer(s) OtherThan Named Above: �'`�°'�`� Capacity(les) Claimed by Signer(s) Signer's Name: �� f3 � "� N' C Individual �Corporate Officer — Title(s): ✓��Fs, o�-• T � Partner — � Limited �� General ` � ,+., � Attorney in Fact Top of thumb here � Trustee C Guardian or Conservator C_ Other: ,._,,; :?l�. Signer Is Representing: _ C.�.�t..tia,•.:rY .OY�lhs•-ues � � z ��: >',' yi Signer's Name: �"' C Individual �� Corporate Officer — Title(s): C Partner — � Limited � General � Attorney in Fact C Trustee � Guardian or Conservator C Other: Signer Is Representing: / • . To of thumb here �=G��L�L"_✓��u;.�U'�CR.r-'G='-�G�,'aG�.�'vuu:�.'o.'�G�'G`=�'"-- - aG��%�i.'�.zG�.T�C.Tx'�rv'cr.T.-L'cL;-a m 2006 National Notary Association • 9350 De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313•2402 Item No. 5907 v609 Reorder: Cell Toll-Free 1-800-876-6827 ` POWER OF ATTORNEY�_-_ _ � `��-. - -- _ -- - - � (To be used with bondstijssued•oz� behalf o�U.S. SPECI�LTY_INS�ktA1�CG� GO�IPANY) '-�-; •' :. .. - : , . Know A1l Men by TJtese, Presents Tha't,-,,�.S:; ;�PE�IALTl,':,TN$tJRANG�=�OIFI�AIY'�l �t2ie ="�qrnpany"), a corporation duly organized and existing under`the laws of t�tre' State 6f'Texa's;�and'h�ving its prin�pal ofF�in F{�7isf�ry�arris County, Texas, does by these presents make, constitute and appoint - - .��;�Ralph Eid� Jc:;�2�iel=�ur�SbagZ z�t��rturo Ayala of Orange, Califomia � • • ',; ==== --= =' -_== -== =__= • . its true and law'ful Attorney(s)-in-fact, v�[th full'p�ver=at�d -��ority hereby conferred in its name, place and s'tead, to axecute, aclmowledge and deliver any and all bonds, recognizances, undertakings or other instruments or contracts of suretyship to in�i�d� _-- ri�tr�__ s�e�ats, and consents of surety, �rovidin ' _#tie''� . botid ;.:penalty d0es _ -: _not _ ` �rceed - _ ___ -_ - ===ss*�?n�=�Vlkf�n=�`#' , . � Dollars ($ " s 1,004,�OQ;flO *:'�* j and�to bind the -_,- - there(i: �s_ __- C�tr�anY= _ - Y _ _� - full}�-� to'��_s�in��actei�t�sif such bonds were signed by the President, sealed wift�,tlic cdr�porate,'seal of the-€�mpai�x ari� dul� -_ attested by its Secretary, hereby ratifying and confirming all that the said Attoriiey-in-Fact may do in the premises. �aid appbintment �- is made under and by authority of the following resolutions of the Boazd of I��r�ect�rs of the. U. S�Sp�i�lty Insurance Company: Be it(Re;sofved, that the President, any Vice-President, any ASsistant �1icaPre�idenf� any Secre�dy=e�anj€�lssis�t�r� �l be and is hereby vestbd with fuU ' power,9tuJ authority to.appoint anyqne or more swtable persons a�Attertiey(s)-in-Fact to repre�a9d aa��'or �og�Eha�pC�i� Company subject to the following provisions: �. , . • • . �:�,�,,.s,.' : . === --= - === == • Attorney-in-Fact may be given full power and authority for and in the name of and on behalf of the Company, to execute, acknowledge and deliver, any and all bonds, recognizanees, c4ntrec�ts, agzgements or indemnit�and niher �ional�=obl�or� undertakings attd any and all notiFes �nd documents canceling or terminating the Cocnp�ny"s lia6ility t�Ereiu��er,, and any such ins�i�i� s�� l�any�u��ttomey-in-P3ct�4hall be 6iqtling tlpon;tNe eomp�y as if signeci by the President and sqa(ed and offect�'b�,ti`ig CA.r�iot�te Secretary�= - _ _ __ _ __ -- - - - � - Be !t Resolved'; that the s"ignature of any authorizede$cer a�� of �_Co��y heretofore ort}ereattei�"�ii�Ced tq=gny �oi+wer'of attomey or aiEy certificate relating thereto by facsimile, and any power of attorney or certificate bearing facsimile signature or facsimile seal shall��e valid and binding upon the Company with respect to any_bond�s underfaking to-whichit�is attached. (Adopted by unat�mous,>yritte� 5onsent in lieu of ineeting on July 7, 2003.) '=_ =_` _' _- _ "---`_ `� ':i"�: r%.'r' ` --- -= __ ___ ___ _ _ In-�'�es��'her�,�=t1. � S��IALTY'=„�VSq�AI��,r'`r��0�1�IP�1�iY has caused th�5e 1p�resen�s to be,signed by-t�sizice`Presidea� __ - -- --_ -- � . „ - _- _ __- ° __ andits�orpii[�t��a�.�� b�Zi�to affixed�thjs 19t�.day' of'TahtC�yy:'�007. , . . . •� _ __ _, _ _ _ _ Corporate Seal -_: .' �'" 5 U.S. S==��'I"3�=I��,1�L��510E COMPAiYY':. � .. , . ' '' � . � T T� �Y =-=_ __ _ - � _ _ __ . ' State of California County of Los Angeles _ y� + �_ ___ -_ __-_ r. --- ��,�a^= =;- ��,�„"'"'__ -, -� ss: __ - --__=- _- -=___ �Ad�4tS,::Pe�S�p,V�ceP'resident O�t�i��thzia��f I�ua�; �107 before m�•per�anally e�e.Ad�m S. Pessin, to"me lcriqwn, who, t3eing by me d�y,Pwom,=dic� ___ ____ dispc�s��t►t�say��a€�e ceesid�=in Los�,A�geles;r�aliFornta;;th�'t hts is Vice itfz�jdent,df L��$.;�'EG�L:TY 1NSL�A�I�CF��01�3�'t�i�33' -.- ,.. y., �. - the�ot�par[p d�cfibr�ir��s��vhich exect�ted tlie.abnver,insh'u�ehf; that he �'Qws'�t}�e,,s�l of-said Company; tlsa�t�e s�al_ __a�_rxe��o ____ said instrumeni is suc�fi corporate seal; that it was �so��affixed by"order of the Board of`'birectois of the Company;-end thaf #� sig�►ed '-= his.�ame thereto by like ord.er. . , _- , � ,_ __, _ _ _ _ _ __ _ _ . _ i•� ,,t.; >, ,- . `_ -_` -_' -_ _ =- -_ _=- - � - - '�� •�'• to • ; • � �� y =_ _ = '-� _ _ _ �_- -_ - , , � -. - _- _ -,�. ;,i 'K.'..�� '>:�;'. .:`�� =' ==' ==' '�_ ` =- === -== N, P ,"iic'� . , : _= , Notar`;Seal-, �. . ,. T�vE. �oUN� .,�.. ,.x. __ __, -- _ �� -__ -- , nfa," ub __ �x - _===_ __ ___ =_=_ =-____ ._ ___ . : -.d :' '�t"7'• nt4�-1;�5�?,.' s"4 ;"�k' �y � _ _ - - - -- - - - - - _ - � - ' . _ - - �� noT�+rPue��c•cu�onH�R o - Ivly co�nissioi�ezpi�s June 29, 2009 V LOSAH6EIF.SCAUN�Y . -,:a� 4 i �Co�9�E�{[�•�_ '___ - - - - =f==-== _ , 1 : ',- �-�Y. „��tii� ;,�I'` -,_ '__- ___ '' _ ___ ___ __- . .. , .. • . _ _ _ ' , � . • v =_"-___ ___ ___ ___ __' '__ ' ' , ' �� ,.'y` - .i: _____ __, __ ___ -__ ___ " .- � , . I, Jeannie Kim, Assistant Secretary of U:�. SPE�IAt.TY--TNS�tANCE COMPANY, do hereby certify that the above and foregoing i��tru� and s�trrect _�op��f a Power of Attorney, executed by said Comparty, which is still in fuU force and effect; furthermore, the re�lut�nsaf`ti��a�l v��it'ectors, sei out in the Power of Attomey are in full �ciic�ati�i^:�ff� __ ___ -__ --_ __= =__ _=_ -=- _ . _ _ -__- _- __° . . <<;;._, i�.; ,�� ::• ' __ -= - - - = - _ In Vt�i�ness V�h�eoff i-ha��tereunto set iity hatid anil at�ixed_the seal of safd,Comp�i��at�L�,�-:Ang�eles; Californi��is 1�.t:� _�ay =_-_ of October , 20 07. � ;: Corporate Seal g e�<r` 's ;; �.`�� J• T i `;'- . v1 � N _ ....d_ 4 ___ __ _ � _ = _= Bond No. 100075042�r �, - �genc}��lo.= ___ 847� _=.; : - .,,,`. �Y .��.'"-� ��''�, '� •k*�,. :1.,' ;�M, *`a�;,. z`w .'� _ , '�`� , , � = = === - �� - Jeannie Kim, Assistant Secretary _ _ _ ronuia,iaos. QUITCLAIM AND ASSIGNMENT This Quitclaim and Assignment ("Quitclaim and Assignment") is made this day of , 2007, by COMDYN PD, LLC, a California limited liability company ("Developer") in favor of the PALM DE5ERT REDEVELOPMENT AGENCY, a public body, corporate and politic ("Owner"). Developer and Owner are parties to that certain Agreement between the Palm Desert Redevelopment Agency and Comdyn PD, LLC for Fee Developer Services for Agency- Owned Property Located in the City of Palm Desert (the "Agreement"). This Quitclaim and Assignment is being executed in fulfillment of the tezms of the Agreement. 1. For valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Developer hereby quitclaims and releases to the Owner all of Developer's right, title and interest in that certain real property in the City of Palm Desert, County of Riverside, State of California, more particularly described on Exhibit "A" attached hereto and incorporated herein by this reference, and all buildings and other improvements located thereon (the "Property"). 2. Developer hereby assigns to Owner its right, title and interest in and to all manufacturers' third party warranties and guaranties of equipment, appliances, and machinery, whether surface or subsurface, within the Property (the "Equipment Warranties"). The documentation for the Equipment Warranties was delivered to Owner on August 9, 2007, and Owner acknowledges receipt thereof. 3. Concurrent with the execution hereof, Developer has delivered to Owner all keys in Owner's possession relating to the Property, and Owner acknowledges receipt thereof. IN WITNESS WHEREOF, Developer and Owner have duly executed this Quitclaim and Assignment as of the _ day of , 2007. "Developer" COMDYN PD, LLC, a California limited liability company By: COMDYN, LLC, By: Its: "Owner" �� PALM DESERT REDEVELOPMENT AGENCY, a public body, corporate and politic By: Its: 1602872.2 12281-00003 EXHIBIT KA" That certain real property in the City of Palm Desert, County of Riverside, State of California described as follaws: 1. Rental Housin�: Lot 109 of Tract No. 30795, as shown on a Subdivision Map filed on June 7, 2006, in Book 406 at Pages 73 to 80, inclusive, of Maps, in the Office of the Riverside County Recorder. 2. Phase One SinQle-Familv Homes: Lots 59 through 88, inclusive, and Lots G, H and I, inclusive, of Tract No. 30795, as shown on a Subdivision Map filed on June 7, 2006, in Book 406 at Pages 73 to 80, inclusive, of Maps, in the Office of the Riverside County Recorder. Models Phase Sin�le-Family Homes: Lots 1 through 4, inclusive, of Tract No. 30795, as shown on a Subdivision Map filed on June 7, 2006, in Book 406 at Pages 73 to 80, inclusive, of Maps, in the Office of the Riverside County Recorder. i so28�2.2 2 12281-00003