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HomeMy WebLinkAboutSR - R23390 - Falcon Crest & La Rocca VillasContract No. R23390 PALM DESERT REDEVELOPMENT AGENCY STAFF REPORT REQUEST: 1. ACCEPTANCE OF THE FALCON CREST SITE WORK IMPROVEMENTS (CONTRACT NO. R23390) WITH COMDYN PD, LLC FOR THE DEVELOPMENT OF BOTH THE FALCON CREST AND LA ROCCA VILLAS PROJECTS 2. RELEASE OF PERFORMANCE BOND ASSOCIATED WITH SITE WORK IMPROVEMENTS FOR THE FALCON CREST AND LA ROCCA VILLAS PROJECTS, NOT AFFECTING THIRD PARTY RIGHTS 3. ACCEPTANCE OF THE 10% MAINTENANCE BOND FOR THE SITEWORK IMPROVEMENTS 4. ACCEPTANCE AND EXECUTION OF QUITCLAIM AND ASSIGNMENT SUBMITTED BY: CATHERINE WALKER, SENIOR MANAGEMENT ANALYST DEVELOPER: COMDYN PD, LLC 2800 28T" STREET, SUITE 206 SANTA MONICA, CA 90405 INTERNATIONAL FIDELITY INSURANCE COMPANY 1575 TREAT BLVD., SUITE 208 WALNUT CREEK, CA 94596 DATE: APRIL 24, 2008 CONTENTS: PERFORMANCE BOND NO. 390241 MAINTENANCE BOND NO. 390241 QUITCLAIM AND ASSIGNMENT Recommendation: By Minute Motion, that the Agency Board: Accept site work improvements for Tract No. 30975, the Falcon Crest and La Rocca Villas developments; 2. Release the Performance Bond No. 390241 for the site work improvements, not affecting third party rights; Staff Report Acceptance of site work improvements at Falcon Crest/La Rocca Villas Projects April 24, 2008 Page 2 of 3 3. Accept 10% Maintenance Bond No. 390241 for the site work improvements; and 4. 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 has been met, and the 10% maintenance bond has been accepted. All necessary Public Works Department approvals have been procured, and the criteria outlined in Section 1.4 have been accomplished. This action is solely for the work defined in the Site Work Improvement Phase, this is the last remaining Performance Bond for the project. The Payment Bonds associated with this phase will be released through California Law and statutory regulations. The release of this Performance Bond does not pertain to third party rights. Discussion: On July 14, 2005, the Palm Desert Redevelopment Agency Board awarded a contract to 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 work 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, have 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. Because the construction has been phased, the completion of each phase will be taken into consideration upon individual completion. G \rda\Cathy Walker\Word Data\STAFF REPORTS\Staff ComDyn Sitework Improvements 042408 doc Staff Report Acceptance of site work improvements at Falcon Crest/La Rocca Villas Projects April 24, 2008 Page 3 of 3 Agency staff recommends Acceptance of the Site Work Improvements Phase, Release of the Site Work Improvements Performance Bond, Acceptance of the 10% Maintenance Bond for Site Work Improvements, and execution of the Quitclaim and Assignment. The Maintenance Bonds have been reviewed and approved by the City Attorney. Submitted By: dkl dwtll Catherine Walker Senior Management Analyst mh Approval: 41 ?ncCarhy,ACM Re pment W, Carlos L. eg4jltxecutive Director Department Head: Dave Yrigo Director Redevelopment/Housing Paul S. Gibson, Director of Finance -dw. . RDA - D ON 4 -L�A4-/ -OR VERIFIED BY �l} 1CJr Original on file with City Z%rk's Office G:\rda\Cathy Walker\Word Data\STAFF REPORTS\Staff ComDyn Sitework Improvements 042408.doc THE AMERICAN INSTITUTE OF ARCHITECTS Executed in Four AIA Document A312 Counterparts Performance Bond Bond No. 390241 Premium: $36,157.00 Any singular reference to Contractor, Surety, Developer or other party shall be considered plural where applicable. CONTRACTOR (Name and Address): COMMUNITY DYNAMICS, INC. 2800 28t0 St., Suite 206 Santa Monica, CA 90405 DEVELOPER (Name and Address): COMDYN PD, LLC 2800 28th St., Suite 206 Santa Monica, CA 90405 SURETY (Name and Principal Place of Business): International Fidelity Insurance Company 1575 Treat Blvd., Suite 208 Walnut Creek, CA 94596 CONSTRUCTION CONTRACT Date: September 14, 2005 Amount: Three Million Five Hundred Twenty Thousand Nine Hundred Forty Eight and 81/100 ($3,520,948.81) Description (Name and Location): Site Improvements — Hovley Gardens Housing Project Tract No. 30795, Palm Desert, CA BOND Date: October 10, 2005 Amount: Three Million Five Hundred Twenty Thousand Nine Hundred Forty Eight and 81/100 ($3,520,948.81) Modifications to this Bond: ® None 0 See Page 3 CONTRACT OR AS PRINCIPAL SURETY Compal�y. (Corporate Seal) Company: (Corporate Seal) COMMUNI Y D ' AM -CS, INC. International Fidel' Insu nce Corn / Si nature: Signature: Name an Ti,e. Name an Titl ichard Adair, Attorney -in -Fact (Any addi'.;onai slanatures appear on page 3) (FOR INFORMATION ONLY- Name, Address and Telephone) AGENT or BROKER: Gallagher Construction Services 505 No. Brand Blvd., 6th Floor Glendale, CA 91203 818-539-2300 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 THIRD PRINTING • MARCH 1987 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT .at:.Gc State of Calif ornia County of Los Angeles On October 10, 2005 before me, P.. Bauer, Notary Public Date Name and rite of Officer (e.g.. 'Jane Doe, Notary Public') personally appeared Richard Adair _ Narne(s) of signer(s) [Xpersonally known to me — OR — ❑ proved to me on the basis of satisfactory evidence to be the person(N whose name(!* is/afs subscribed to the within instrument and acknowledged to me that he/s4adti"y executed the same in his/#iet/their authorized capacity(iec), and that by his#m0their signature(q) on the instrument the personN), i'. BAUER �t or the entity upon behalf of which the person(V acted, Cornlnission 9 1380630 Y executed the instrument. j ,-m � Notary Public - Colifornicl r • Los Angeles County My Comm. Expires Oct 19, 20C 5 WITNESS my hand and official seal. Signa'ttxe of Notary Public OPTIONAL Though the information below is not required by law, It may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Individual ❑ Corporate Officer Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Attorney -in -Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Top of thumb here Number of Pages: Signer's Name: ❑ Individual ❑ Corporate Officer Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Attorney -in -Fact ❑ Trustee ❑ Guardian or Conservator ,' . ❑ Other: Too of thumb here 1 l 1 1 t � L Signer Is Representing: Signer Is Representing: t 1 1 1 VJi+/I J'//J///'//'//i////�i'%///ir//I//I�I///niJrlJ•Jr'/J'i//r•I///r//I r.r///��-..�/J/./I� 0 1994 National Notary Association - 8Y36 Remmet Ave., P.O. Box 7154 - Canoga Park, CA 91309.7184 Prod. No. 5907 Reorder. Calf ToR-Free 1-Bt70-876.680 1 The Contractor and the Surety, jointly ,d severally, bind themselves, their heirs, executc administrators, successors and assigns to the Lvveloper 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 If 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 perform the Construction Contract, but such an agreement shall not waive the Developer's right, if any, subsequently to declare a Contractor Default; and 3.2 The Developer has declared a Contractor Default and formally terminated the Contractor'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 selected to perform 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 Contract; or 4.2 Undertake to 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 performance 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 default; or 4.4 Waive its right to perform and complete, arrange for completion, or obtain a new contractor and with reasonable promptness under the circumstances: 1 After investigation, determine the amount for which it may be liable to the Developer and, as soon as practicable after the amount is determir), ' tender payment therefor to the Develof r .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 default 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, 4.2, 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 from the Contractor's Default, and resulting from the actions or failure 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 performance or non- performance of the Contractor. 7 The Surety 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 perform 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 available to sureties as a defense in the jurisdiction of the suit shall be applicable. 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 THIRD PRINTING • MARCH 1987 10 Notice to the Surety, the DeveloF r the Contractor shall be mailed or delivered to the address shown on the signature page. 11 When this Bond has been furnished 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 deleted 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 not 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 MODIFICATIONS TO THIS BOND ARE AS FOLLOWS: by the Develo; n 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 between 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 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 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 PRINCIPAL SURETY Company: (Corporate Seal) Company: (Corporate Seal) Signature: Name and Title: Address: Signature: Name and Title: Address: 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 THIRD PRINTING • MARCH 1987 DUAL OBLIGEE RIDER To be attached to and form a part of Performance Bond No. 390241 Executed concurrently with this rider, it is agreed that: International Fidelity Insurance Company COMMUNITY DYNAMICS, INC. , Surety, and for valuable consideration, hereby agree that the Performance Bond executed in favor of COMDYN PD, LLC in connection with a contract for: Site Improvements — Hovley Gardens Housing Project - , Principal, , Obligee, Tract No. 30795, Palm Desert, CA which bond and contract are made a part of hereof by reference, shall now include as an additional Obligee: THE PALM DESERT REDEVELOPMENT AGENCY in its capacity as, Owner of the property , for the aforementioned project. The Surety shall not be liable under this bond to the Obligees, or either of them, unless the said Obligees, or either of them, shall make payments to the Principal or to the Surety, in case the Surety arranges for the completion of the contract upon default of the Principal, strictly in accordance with the terms of said contract as to payments, and shall perform all the other obligations to be performed under said contract at the time and in the manner therein set forth. In no event shall the Surety be liable in the aggregate to both Obligees for more than the penal sum of its Performance Bond, nor shall it be liable except for a single payment for each single breach or default. At the Surety's election, any payment due to either Obligee may be made by its check issued jointly to both. WITNESS the following signatures and seals this 10" day of October, 2005. Surety Intern nal Fidelity Insurance Company By: --1 Richard Adair, Attorney -in -Fact S-5344 (12-99) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT �.,. ,.� r.�.....�....,....r..•,.•., .. ...iG G�r r'�.�.r�'.ti r•n..n irir�..�.�trl�C- State of California County of Los Angeles t ! On October 10, zoos before me, P.. Bauer, Notary Public L Date Name and Tale of Officer (e.g., 'Jane Doe, Notary Public- t personally appeared Richard Adair t Name(s) of Signer(s) 1 t apersonally known tome — OR — ❑ proved to me on the basis of satisfactory evidence to be the person(t whose name( is/&% subscribed to the within instrument and acknowledged to me that her's4¢M-fey executed the same in his/iier/the+r authorized capacity(i*, and that by ` hisr'i-tedtheir signature(, on the instrument the person(, P. BAUER or the entity upon behalf of which the person(V acted, Commission # 13801,130 z executed the instrument. r e, c Notary Public - California '_ t 1 rye : Los Angeles County f My Comm. Expires Oct19,2006 WITNESS my hand and official seal. fL f signature of Notary Public �l r! OPTIONAL Though the information below is not required by taw, It may prove valuable to persons relying on the document and could prevent r fraudulent removal and reattachment of this form to another document. f r • r .Description of Attached Document r; Title or Type of Document: Document Date: t t Signer(s) Other Than Named Above: t Capacity(ies) Claimed by Signer(s) Signer's Name: Signer's Name: ❑ individual O ❑ Corporate Officer C l Title(s): i ❑ Partner — ❑ Limited ❑ General ❑ t ❑ Attorney -in -Fact ❑ A ❑ Trustee ❑ ❑ Guardian or Conservator Him ❑ ❑ Other: Top of thumb here ❑ Number of Pages: Individual Corporate Officer Tftie(s): Partner — ❑ Limited ❑ General Attomey-in-Fact Trustee Guardian or Conservator M"I`•fl Other: TOD of thumb here t Signer Is Representing: Signer is Representing: t l t ! t t t O 1994 National Notary Associagon • 8236 Renvnet Ave.. P.O. Box 7154 • Canoga Park. CA 91309.7154 Prod, No. 5907 Reorder. Call Toll -Free 1-8DD-876-1=7 MAINTENANCE BOND BOND NO.: 390241 KNOW ALL MEN BY THESE PRESENTS: That COMMUNITY DYNAMICS, INC. hereinafter called Principal, and INTERNATIONAL FIDELITY INSURANCE COMPANY hereinafter called Surety, are held and firmly bound unto COMDYN PD, LLC hereinafter called Obligee, as Principal, , as Surety, as Obligee, in the penal sum of Three Hundred Fifty Two Thousand Ninety Four & 88/100 ($352,094.88 ) Dollars for the payment whereof Principal and Surety bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally, firmly by these presents. WHEREAS, Principal has by written agreement, entered into this agreement with Obligee to install and complete certain designated site improvements identified as: Site Improvements — Hovely Gardens Housing Project — Tract No. 30795, Palm Desert, CA in accordance with the General Conditions, the Drawings and Specifications, which Agreement is by reference incorporated herein, and made a part hereof, and is referred to as the Agreement. NOW, THEREFORE, the condition of this obligation is such that, if Principal shall remedy any defects due to faulty materials or workmanship which shall appear within a period of one (1) year(s) from the date of substantial completion of the work provided for in the Agreement, then this obligation to be void; otherwise to remain in full force and effect. PROVIDED, HOWEVER, that Obligee shall give Principal and Surety notice of observed defects with reasonable promptness. SIGNED and sealed this 7th day of April , 2008. Principal COMMUNITY DYNAMICS. INC. By: Le•�-� QI�J�, i'raer��t—� Surety INTERNATIONAL FIDELITY INSURANCE COMPANY By: ichard Adair, Attorney -in -Fact CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of Los Angeles i 4-7-08 On before me, P. Bauer, Notary Public , Date Here Insert Name and Title of the OfNcer personally appeared Richard Adair Name(a) of Sig-r(s) i who proved to me on the basis of satisfactory evidence to be the personk%) whose name(C) isJaM subscribed to the within instrument and acknowledged to me that helsloleMW executed the same in his/K~ authorized M capacity(ko, and that by hishWd"g signature" on the Can t instrument the person*, or the entity upon behalf of t4*" Pubw - Cava" Ile, which the person(jj) acted, executed the instrument. Ccn>rt> >E>tpM"0af19. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS ha and official seal. j Signatur Place Notary Seal Above Signature of Notary PuWlo OPTIONAL Though the Information below Is not required by law, It may prove valuable to persons relying on the document and could prevent fraudulent 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(les) Claimed by Signer(s) Signers Name: Signer's Name: ❑ Individual ❑ Individual ❑ Corporate Officer,— Title(s): ❑ Corporate Officer—Tdle(s): ❑ Partner —= ❑ Limited ❑ General ❑ Partner — ❑ Limited ❑ General , ❑ Attorney In Fact Adskow ❑ Attorney in Fact ❑ Trustee Top of thumb here p Trustee Top of thumb here ❑ Guardian or Conservator ❑ Guardian or Conservator ❑ Other: ❑ Other: Signer Is Representing: Signer Is Representing: 02007 Naliond Notary Association • 9WO De Sob Ave., P.O. Bar 94M-Chatwoorth. CA 9i313.2402 • www.NatlwAlNofary ag ttam rib907 Reorder:CallTUIFFree 1-F10o� Tel (973) 624-7200 POWER OF ATTORNEY I N,t'ERNATIONAL FIDELITY INSURANCE COMPANY HOME OFFICE: ONE NEWARK CENTER, 20TH FLOOR NEWARK, NEW JERSEY 07102-5207 KNOW ALL MEN BY THESE PRESENTS: That INTERNATIONAL FIDELITY INSURANCE COMPANY, a corporation organized and existing laws of the State of New Jersey, and having its principal office in the City of Newark, New Jersey, does hereby constitute and appoint ................................................... .......................... ......................................... ................... -............................ ............................................. - - -. - P. BAUER, RICHARD ADAIR Glendale, CA. ........................................................................................................................................................................................................................................................................... its true and lawful attorney(s)-in-fact to execute, seal and deliver for and on its behalf as surety, anq and all bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be allowed, required or permitted by law, stature rule regulation, contract or otherwise and the execution of such instrument(s) in pursuance of these presents, shall be as bind"utg upon the said IlV'I$RN/iTINAL FIDELITY INSURANCE COMPANY, as fully and amply, to all intents and purposes, as if the same had been duly executed and acknowledged by its regularly elected officers at its principal office. This Power of Attorney is executed, and may be revoked pursuant to and by authority of Article 3-Section 3, of the By -Laws adopted by the Board of Directors of INTERNATIONAL FIDELITY INSURANa COMPANY at a meeting called and held on the 7th day of February, f974. The President or any Vice President, Executive Vice President, Secretary or Assistant Secretary, shall have power and authority (1) To appoint Attorneys -in -fact, and to authorize them to execute on behalf of the Company, and attach the Seal of the Company thereto, bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof W. (2) To remove, at any time, any such attorney -in -fact and revoke the authority given. Further this Power of Attorney is signed and sealed by facsimile pursuant to resolution of the Board of Directors of said Company adopted at a meeting duly called and held on the 29th day of April, 1982 of which the following is a true excerpt: Now therefore the signatures of such officers and the seal of the Company may be affixed to any such power of attorney or any certificate relating thereto by facsimile, and any such power of attorney or certificate bearing such facsimile signatures or facsimile seal shall be valid and binder upon the Company and any such power so executed and certified by facsimile signatures and facsimile seal shall be valid and binding upon the Company in the future with respect to any bond or undertaking to which it is attached. IN TESTIMONY WHEREOF, INTERNATIONAL FIDELITY INSURANCE COMPANY has caused this instrument to be signed and its corporate seal to be affixed by its authorized officer, this 29th day of August, A.D. 2003. INTERNATIONAL FIDELITY INSURANCE CO SEAL ran 1904 STATE OF NEW JERSEY �© County of Essex . �•�iY/ �► �►a seere On this 29th day of August 2003, before the came the individual who executed the preceding instrument to me personally known and, being by me duly sworn, said the he is the therein described and authorized officer of the IN ERNATIONAL FIDELITY fNSURANCE COMPAN$; that the seal affixed to said instrument is the Corporate Seal of said Company; that the said Corporate Seal and his signature were duly affixed by order of the Board of Directors of said Company. �N1{�RQi/ IN TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal, y�P• {(� at the City of Newark, New Jersey the day and year first above written. NOTARY "'a PUBLIC i x1ER� A NOTARY PUBLIC OF NEW JERSEY CERTIFICATION My Commission Expires Nov. 21, 2010 I, the undersigned officer of INTERNATIONAL FIDELITY INSURANCE COMPANY do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Section of die By -Laws of said Company as set forth in said Power of Attorney, with the ORIGINALS ON IN THE HOME OFFICE OF SAID COMPANY, and that the same are correct transcripts thereof, and of the whole of the said originals, and that the said Power of Attorney has not been revoked and is now in full force and effect IN TESTIMONY WHEREOF, I have hereunto set my hand this 7th day of Apri I > 2008 Assistant Secretary CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT v- - - .,a.a.�...�..k.rr� State of California ,{ County of LDS -Inoue-S On t-i -14 -09 before me, MoLr & /'VKoA 6 e t-t K 6S Q c-Puv I C, Date II Here Insert Name and Title of the O icer personally appeared LOrerl - �4OA Name(s) of Signer(s) ,.sty �� i� . f -• who proved to me on the basis of satisfactory evidence to be the personKwhose name(r8'j is/�pe subscribed to the within instrument and acknowledged to me that he/sk6Akt executed the same in his/bedtbeir authorized capacity(ias), and that by his/ber/Uieir signature* on the instrument the person(; or the entity upon behalf of which the person(, acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature? Place Notary Seal Above SignaWe of Notary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: K&1 rl+e na0 Ce_ _,�08_a Document Date: 41`1 1 7 . zoo-R Number of Pages: .Z Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: L I Individual i Corporate Officer — Title(s): Partner — `] Limited G General _ El Attorney in Fact • khm Trustee Top of thumb here L; Guardian or Conservator Other: Signer Is Representing: Signer's Name: U Individual U Corporate Officer — Title(s): E. Partner — O Limited ❑ General O Attorney in Fact L� Trustee Guardian or Conservator U Other: Signer Is Representing: • • Top of thumb here �xadoseoLea�ao�o 02007 National Notary Association • 9350 De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313-2402 • www.NationalNotaryorg ltem #5907 Reorder: Call Tdl-Free 1-800-876-6827 DUAL OBLIGEE RIDER To be attached to and form a part of Maintenance Bond No. 390241 dated the 7th day of Apri 1 , 2008, issued by the INTERNATIONAL FIDELITY INSURANCE COMPANY, as Surety, on behalf of COMMUNITY DYNAMICS, INC, as Principal, in the penal sum of Three Hundred Fifty Two Thousand Ninety Four & 88/100 Dollars ($352,094.88), and in favor of COMDYN PD, LLC, as Obligee, in connection with a contract for: Site Improvements Hovley Gardens Housing Project, Tract No. 30795 — Palm Desert, CA which bond and contract are made a part of hereof by reference, shall now include as an additional Obligee: THE PALM DESERT REDEVELOPMENT AGENCY Provided, however, that the attached bond shall be subject to all its agreements, limitations and conditions except as herein expressly modified, and further that the liability of the Surety under the attached bond and the attached bond is amended by this rider shall not be cumulative. WITNESS the following signatures and seals this 7t►day of Apri 1 2008. 1NTERNA ONAL FIDELITY INSURANCE COMPANY By: Richard Adair, Attorney -in -Fact COT—re�n DYN , By:i--�1 h,President S-5344 (12-99) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of Los Angeles On April 7, 2008 before me, P. Bauer, Notary Public Date Here Insert Name and Title of the officer personally appeared Richard Adair Name(e) of Sfpner(a) ►. CaM1tMNOft M 16"M 1110" hAc • caftmic LA M1pdN cowdy jr MMCt�Im►. bfpMu Oct 10, �Ol who proved to me on the basis of satisfactory evidence to be the person(ib) whose named) is/M subscribed to the within instrument and acknowledged to me that he/slotPAVy executed the same in histAMM* authorized capacity(ieo, and that by hisMIM9 signature" on the instrument, the person6Q, or the entity upon behalf of which the person(g) acted, executed the instrument. 1 certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my a d official seal. Signature Place Notary Seal Above S ro&^VGiry Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date: Signer(s) Other Than Named Above: Capacity(les) Claimed by Signer(s) Signer's Name: ❑ Individual ❑ Corporate Officer—Title(s): ❑ Partner - ❑ Limited ❑ General ❑ Attorney in Fact AMMM ❑ Trustee Top of thumb here ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Number of Pages: Signer's Name: 0 Individual ❑ Corporate Officer —Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Top of thumb here 02007 Nabo" Notary Awocislion • M De Soto Ave., P.O. Box 2402 • Chatcwortlt. CA 91313-2402 • wYmNatlonefNotary org hem •5907 Reorder- Coil TolFFres 1-800-9764W Tei (973) 624-7200 POWER OF ATTORNEY INTERNATIONAL FIDELITY INSURANCE COMPANY HOME OFFICE: ONE NEWARK CENTER, 20TH FLOOR NEWARK, NEW JERSEY 07102-5207 KNOW ALL MEN BY THESE PRESENTS: That INTERNATIONAL FIDELii'i'Y INSURANCE COMPANY, a corporation organized and existing laws of the State of New Jersey, and having its principal office in the City of Newark, New Jersey, does hereby constitute and appoint .................................................................................................................................................................................................................................................................................... P. BAUER, RICHARD ADAIR Glendale, CA. its true and lawful attomey(s)-in-fact to execute, seal and deliver for and on its behalf as surety, any and all bonds and undertakings,r n��contracts of indemnity and other writings obligatory m e nature thereof, which are or may be allowed, required or rmttted by law,, stature rule r n, contract or otherwise and the execution of such instrument(s) in pursuance of these presents, shall be as bir rng upon the said iIlVTLRNATIMNAL FIDELITY INSURAt�ICE COMPANY, as fully and amply, to all intents and purposes, as if the same had been duly executed and acknowledged by its regularly elected officers at its principal office. This Power of Attorneyy is executed, and may be revoked pursuant to and by authority of Article 3-Section 3, of the By -Laws adopted by the Board of Directors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting called and held on the 7th day of February, 1974. The President or any Vice President, Executive Vice President, Secretary or Assistant Secretary, shall have power and authority (1) To appoint Attorneys -in -fact, and to authorize them to execute on behalf of the Company, and attach the Seal of the Company thereto, bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof and, (2) To remove, at any time, any such attorney -in -fact and revoke the authority given. Further this Power of Attorney is signed and sealed by facsimile pursuant to resolution of the Board of Directors of said Company adopted at a meeting duly caned and held on the 29th day of April, 1982 of which the following is a true excerpt: Now therefore the signatures of such officers and the seal of the Company may be affixed to any such power of attorney or any certificate relating thereto by facsimile, and any such power of, attorney or certificate bearing such facsimile signatures or facsimile seal shall be valid and binding uppoon tine Company and any such power so executed and certified by facsimile signatures and facsimile seal shall be valid and binding upon the Company in due suture with respect to any bond or undertaking to which it is attached. �iY //�rJ. IN TESTIMONY WHEREOF, INTERNATIONAL FIDELITY INSURANCE COMPANY has caused this instrument to be 9.1 O��/ signed and its corporate seal to be affixed by its authorized officer, this 29th day of August, A.D. 2003. / 4 INTERNATIONAL ELITY INSURANCE CO IPANY SEAL S 90STATE OF NEW JERSEY �, q County of Essex �y JE% Secre On this 29th day of August 2003. before me came the individual who executed the precedes instrument to me personally known and, being by rite duly sworn, said the he is the therein described and authorized officer of the IIV TERNATIONAI. FIDELITY fNSURAI a COMPXR7k; that the seal affixed to said instrument is the Corporate Seal of said Company; that the said Corporate Seal and his signature were duly affixed by order of the Board of Directors of said Company. /0A R oe jIN TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal, �� at the City of Newark, New Jersey the day and year first above written. NOTARY O PUBLIC 1* A NOTARY PUBLIC OF NEW JERSEY CERTIFICATION My Commission Expires Nov. 21, 2010 I, the undersigned officer of INTERNATIONAL FIDELITY INSURANCE COMPANY do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Section of the By -Laws of said Company as set forth in said Power of Attorney, with the ORIGINALS ON IN THE HOME OFFICE OF SAID COMPANY, and that the same are correct transcripts thereof, and of the whole of the said originals, and that the said Power of Attorney has not been revoked and is now in full force and effect IN TESTIMONY WHEREOF, I have hereunto set my hand this 7th day of April 2008 Assistant Secretary / CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of Los kNo es II A�_n I before me, mat- "tff & mai 6e_i�t . 64ar /� ' 1, I Cl/ Here Insert Name and Tifle of the OHiced On 4-14-0? Date personally appeared Loren B1 oc h _ f s Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the persons' whose name(e) is/am subscribed to the within instrument and acknowledged to me that he/she/tMy executed the same in his/her/their authorized capacityUes), and that by histhw/their signature* on the instrument the persorW, or the entity upon behalf of which the person(&) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature 4M41 Place Notary Seal Above Signclfure of Notary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: e 2td- Document Date: ___4 I ( 1_-,1002 Number of Pages: z Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: D Individual Corporate Officer — Title(s): L I Partner — !_1 Limited 1:1 General i 1 Attorney in Fact ffidlefflo Trustee Top of thumb here Guardian or Conservator Other: Signer Is Representing: Signer's Name: Individual L Corporate Officer — Title(s): ', Partner — 0 Limited FL General ❑ Attorney in Fact ❑ Trustee F7 Guardian or Conservator Ll Other: Signer Is Representing: P•• Top of thumb here - - � �aveo�ratia 02007 National Notary Association • 9350 De Soto Ave., P.O. Box 2402 •Chatsworth, CA 91313-2402 • www.NationaiNotaryorg Item #5907 Reorder: Call Toll -Free 1-800.876-6827 QUITCLAIM AND ASSIGNMENT This Quitclaim and Assignment ("Quitclaim and Assignment" is made this of , 2008, by COMDYN, LLC, a California limited liability company ("Developer") in favor of the PALM DESERT 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 terms 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"). IN WITNESS WHEREOF, Developer and Owner have duly executed this Quitclaim and Assignment as of the day of 2008. "Developer" COMDYN PD, LLC, A California limited liability company By: COMDYN, LLC, Managing Member By: Its: "Owner" PALM DESERT REDEVELOPMENT AGENCY, a public body, corporate and politic By: Its: Chairman F:\Loren\ComDyn Server\Projects\Active\Palm Desert\Govemment\Palm Desert, Gty OARedevelopment Agency, Palm Desert\Development AgreementZection 1.4\Quitdaim 8 Assignment - Ste Work\QUITCLAIM AND ASSIGNMENT.doc EXHIBIT A LEGAL DESCRIPTION Tract No. 30795, in the City of Palm Desert, County of Riverside, State of California, as per map filed in Book 406, Pages 73 through 80 inclusive, of Maps in the office of the County Recorder of said County. F:\Loren\ComDyn Server\ProjectskAcxive\Palm Desert\Govemment\Palm Desert. City oNledevelopment Agency, Palm Dssert\Developnent Agreement\Section 1 A\Quitclaim & Assignment - Site WorMQUITCLAIM AND ASSIGNMENT.doc