HomeMy WebLinkAboutSR - R23390 - Acceptance of Phase IIIPALM DESERT REDEVELOPMENT AGENCY
STAFF REPORT
REQUEST: 1. ACCEPTANCE OF PHASE III 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 BOND ASSOCIATED WITH
PHASE III OF THE FALCON CREST, NOT AFFECTING THIRD
PARTY RIGHTS
3. ACCEPTANCE OF THE 10% MAINTENANCE BOND FOR THE
PHASE III
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
U.S. SPECIALTY INSURANCE COMPANY
625 THE CITY DRIVE, SUITE #305
ORANGE, CA 92868
DATE: FEBRUARY 14, 2008
CONTENTS: PERFORMANCE BOND NO. 1000769597
MAINTENANCE BOND NO. 1000769597
QUITCLAIM AND ASSIGNMENT
Recommendation:
By Minute Motion, that the Agency Board authorize the Executive Director
to execute the following:
1. Accept Phase III (Lots 5-29, inclusive, Lots 46-50, inclusive, and Lots
89-94) at Falcon Crest;
2. Release the Performance Bond No. 1000769597 for Phase III, not
affecting third party rights;
Staff Report
Acceptance of Phase III at Falcon Crest/La Rocca Villas Projects
February 14, 2008
Page 2 of 3
3. Accept 10% Maintenance Bond No. 1000769597 for Phase III; and
4. Accept and execute the Quitclaim and Assignment.
Executive Summarv:
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. Certificates of Occupancy have been issued for
the units encompassed in this phase, and the criteria outlined in Section 1.4 have been
accomplished. This action is solely for the work defined in Phase III, the Performance
Bond for the site work will remain in place until completion is reached. 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
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, 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. The Performance
Bonds for the site work will remain in place until all contractual obligations have been
met.
G:\rda\Cathy Walker\Word Data\STAFF REPORTS\ComDyn Staff 21408 doc
Staff Report
Acceptance of Phase III at Falcon Crest/La Rocca Villas Projects
February 14, 2008
Page 3 of 3
Agency staff recommends Acceptance of Phase III, Release of the Phase III
Performance Bond, Acceptance of the 10% Maintenance Bond for Phase III, and
execution of the Quitclaim and Assignment. The Maintenance Bonds have been
reviewed and approved by the City Attorney.
Submitted By: Department Head:
e o
Cat e" Me Walker Dave Yrigoyen
Senior Management Analyst Director of development/Housing
mh
Approval:
\ad; -
Jul Carthy, ACM A#(nent Paul S. Gibson, Director of Finance
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Carlos L. Ortega, xecutive Director
4 ('UCJ BY RDA
ON R - i y • c's
VERIFIED BY �� �� K ��y�ciY
Original on file with City Clerk's Office
G:\rda\Cathy Walker\Word Data\STAFF REPORTS\ComDyn Staff 21408.doc
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AlA Document A392
Performance Bond
BOND N0. 1000769597
PREI�IIDM: ;122, 425 . 00
Any singular reference to Contractor, Surety, Developer or other party shall be considered plural where applicable.
CONTRACTQR (Name and Address}:
Community Dynamics, Inc.
2600 28th Street, Suite 206
Santa Monica, CA 90405
SURETY (Name and Prinapa! Piace of Business):
U.S. Specialty Insurance Company
625 The City Drive, Suite 305
Orange, CA 92868
DEVELOPER (Name and Address):
CocnDyn PD LLC
2800 28th Street, Suite 206
Santa Monica, CA 90405
CUNSTRUCTtON CONTRACT
�'dt@: September Sth, 2006
�YIOUn� $4, 396, 982.72
Descripbon(Name and Location): Faicon Creat Phase III: Construction of 30 Single Family Aomes and
Related Site Construction
BOND
Date {Not earlier than Consin�ction Contract Date): May aist, Zoo�
/ifYlOUflti $4, 396, 982.72
Modifica�ons to this Bond� ❑ Nane �See Page 3
COIdTRACTOR AS PRINCIPAL
Company. (Corpora#e Seal)
Community Dynamics, Inc.
Signature:
Name and e: �,,.o,p,�,� �3 �o�� ��31�'--=
(Any addiaonal signatures appear on page 3j
SURETY
Company: (Co�porate Sea1�
U.S. Specialty Insurance Company
Signature:
Name and Title: Paui s. Dito, Attoxr.ey-ir,-Fact
(F�R lNFORMATI4N ONL Y- Nama, Address and Telephone)
AGEf�IT or BROFCER:
Engineer or Commercial Surety Bond Agency
1411 N. Batavia, Suite 111
Orange, CA 92667
(714) 516-1232
AU1 DOCUMENT A172 . PERFORMANCE BOND AND PAYMENT BOND . DECEMBER 1984 ED. • AIA �
TFiEAMERICAN MSTTTUTE OFARCHffECTS, 173b NEW YpRKAUE., N.W., WASHINGTON, D.C. 2000B i�.i�2-1984 �
THIRD PRINTING • MARCH 1887
1 The Contractor and the Surefy, �y and severally, bind
themselves, their heirs, ex rs, administrators,
successors and assigns to the Developer for the
performance of the Construction Contract, which Is
incorporated herein by referenoe.
2 If the Contractor performs the Construction Contract, the
Surety and the Contractor shall have no obligafion under
this Bond, except to partiapate in conferences as provided
in Subparagraph 3.1.
3 If there is no Developer Defauft, the Surety's obligation
under this Bond shall arise afler:
3.1 The Developer has notified the Contractor and the
Surefy et its eddress 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 !ffier than frfteen days atter receipt of such
notice to discuss methods of pertorming the
Cortstruction Contract. If the Developer, the Contrador
and the Surety agree, the Contractor shall be allowed a
reasonable time to perform the Construdion Contract,
but such an agreement shall not waive the Develope�s
right, if any, subsequently to dedare a Contractor
Default; and
3.2 The Developer has declared a Contractor Defauli
and formally terminated the Contractor's right to
comp(ete the contracL Such Contractor Default shaA
not be deGared ea�iier 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 fhe Surety in accordance with the
terms of the Construdion Contract or to a conVador
selected to perform the Construdion Contract in
acoordance with the terms of the cantract with the
Developer.
4 When the Developer has satisfied the conditions of
Paragraph 3, the Surety shall promptly and at the Suret�s
e�ense take one of the foibwing actions:
4.1 Arrange for the Contractor, with consent of the
Develaper, to perform and camplete ihe Construction
Contrad; or
4.2 Undertake to pertorm and complete the
Construdion C�ntract ftself, through its agerrts or
through independent contractors; or
4.3 Obtain bids or negotiated proposals from qual9fied
cor►Vactors acceptable to the Devetoper for a contract
fior performance and completion of the Constructbn
Contrac[, arrange for a eontrect to be prepared for
execution by the Developer and the contractor
selected with the Develpper's concwrence, to be
secured witl� pe�wmance and payment bonds
execuEed by a qua(ified sureiy equivalent ta ihe bonds
issued on the Construction Contract, and pay to the
Developer tfie amount of damages as described in
Paragraph 8 in excess of the Balance of the Contract
Prioe incurred by the Derreloper resut�ng irom the
Cantractor's defauft; or
4.4 Waive its righi to perForm end complete, arrange
for completion, or abtain a new contractor and with
reasonable promptness under the circumstances:
.1 After investigation, determine the amount for
whic�ay be liable to the Developer and, as
saon practicable after the amount is
determined, tender payment therefor to tF�e
Developer; or
.2 Deny liability in whole or in part and notify the
Qeveloper citing reasons therefor.
5 If the Surety does no1 proceed es provided in Paragraph
4 with reasonable promptness, the Surety shall be deemed
to be in defauft on this Bond fifteen days after receipt of.en
additional written notice firom the Developer to fhe Surety
demanding that the Surety perfam its obligations under
this Bond, and the Developer shall be entlUed ta enforce
any remedy available to the Developer. If the surety
proceeds as provided in Subparegraph 4.4, and the
Developer refuses the payment tendered or the Surety has
denied tiabUity, in whole or in part, wlthout fuRher notice the
Developer sha11 be entitled to enfaroe any �medy avaliable
to the Developer.
fi After the Developer has terminated the Contrado�'s right
to complete the Conshuction Contract, and if the Surety
elects to act under Subparagraph 4.1, 42, or 4.3 above,
then the responsibilities of the Surety to ihe Developer
shall not be greater than those of the Contrador under the
Construction Contract, and the responsbilities of the
Developer to the Surety shall not be greater than those of
the Developer under the Construcdon Contrad. To the
limit of the amount oi this Ba�d, but subject to oommiM►ent
by the Devebper of the Balanve of the Contract Price to
mitigation of costs and damages on the Constnx�iion
Contract, the Surety is ob(igated without duplication for.
6.9 The responsibilities of the Contractor for correction
of defective work and completion of the Construction
Contrad;
6.2 Additional legal, design professional and delay
costs resulting from the Confracto�'s Default, and
resulting ftom the ectians or faUure to ed of the Surety
under Paragraph 4; and
6.8 Uquidated damages, or if not liquidated demages
are speci6ed in the Construdion Cflntrect, ectual
damages caused by delayed performance or non-
perFormance of the Conhador.
7 ihe Surety shall not be liable to the Developer or others
fa obligaUo�s of the Contractor that are unnelated to the
Construction Contrad, and the Belanc�e of the Contract
Price shall not be r+educed or set off on account of a�
such unrelated obGga6ons. No right of action shall accn�e
on this Bond to any person or entity other then the
Developer or its heirs, executors, admfnistrators or
successors.
8 The Surety hereby wan►es notice of any change,
including changes of time, to the Constnaction Contrad or
to related subcontracts, purchase orders and other
obllgations.
8 Any proceeding, legal or equitable, under this Bond may
be instituted in any court of competent jurisdiction in the
location in which the worlc or part of the work is located and
shaN be instittuted within two yea�s after Contractor Default
or within iwo years after the Contracior ceased working or
witivn twn 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, tfie minimum period of lirridation available to suretias
as a defense in the jurisdictiion of the suit shall be
appticable.
AIA DOCUMENT A312. PERFORMANCE BOND AND PAYRAENT BOND • DECEMBER 1984 E�. • AIA �
THE ANIERICAN INSTfTUTE OF ARCHffECTS, 1735 NEW YORK AVE., N.W., WA5HINGTON, D.C. 20006 A3i2-1984 2
THlRn PRINT7N(: s IIAAR(;H 19R7
90 Notice to the Sureiy, the De�er or the Gontractor
shail be mailed or delivered to the address shown on the
sigr�ature page.
11 Whert this Bond has been fumished to comply with a
statutbry or other legal requirement in the locaiion where
the construdion was to be perfortned, any provision in this
Bond conflicting with said stetutory or legal requirement
shell be dee►t�ed deleted herefrom and provisions
conforming to such statutory or other legal requirement
shall be deemed incorporated her+ein. 7he intent is that
this Bond shall be construed as a statutory bond and not
as a common faw bond.
12 DEPtNITIONS
12.1 Balance of the Contract Price: The total amount
payable by the Deveioper to the Contractor under the
Construction Contract after all proper adjustments
have been made, inc�uding allowanoe to the
Contractor of any amounts recei�ed or to be received
by the Deve� in settlemeM of i�surance or other
claims for damages to which the Contractor is entlUed,
reduved by all valid and proper payments made to or
on t�ehaff of the Contractor under the Constn�ction
ConVact.
122 Construction Contract: The agreement belwen
the Developer and the Contractor ldeMifled on the
signature page, including ail Contrect Documents and
changes thereto.
12.3 Contractor Defauih Failure of the Contractor,
which has neither been remedied nor weived, to
perform ar otherwiae to comply wtth the terms of the
Construction Contrad.
12.4 Devebper Default: Fatlure of the Deveioper,
which has neither been remedied nor waived, to pay
the Contractar as required by the ConstrucNon
Contract or to perform and complete or compfy with
the other terms thereof.
(Space is provided below for additiQnal signatures of added parties, other than those appearing on the cover page.)
CON7RACTOR AS PRINCIPAL
Com�any: � (Corporate Seal)
C.O n� M o n�'1,� �y nMKj aS ��-►�1-�
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Signature:
�lame and �'ji9e: I-o�e.�- '�3l }-�?r�.t� ds,,��—
Add�ss: z8po 7�8� S��-' � ?�oco
� R, �ont-c.a7 c.�-� 11�J y0�
SURETY
Company: (Corporate Seal)
U.S. Specialty Ineurance Company
r
I
Signature: h
Name and TiUe: paui S. Dito, Attorney-in-Fact
Address:62s The CiCy-Drive, Suite 305
Orange, CA 92868
AIA DOCUMENT A312. PERFORMANCE BOND AND PAYMEN7 BOND • DECEMBER 1984 ED, . AIA �
7HE AMERICAN INST(TUTE OF ARCHITECT5,1738 NEW YORK AVE„ N.W., WASHINGTON, D.C. 20006 A392-1984 $
THIRD PRIN7ING • A�fARCH 196T
•
CALIF�RNIA ALZ-PURPOSE ACKNOWLEDGMENT
•
State of California
County of Orange
ss.
On ��» , before me, �dith Garibav, Notary Puhl ic ,
Dale � Name nnd Tllle ol qll�cer (e.g., "Jane Ooa, Nolary Publlc�
personally appearedPaul S. Dito --------------------------------- ,
Name�s) ol SlBner(s)
IXI personally known to me
❑ proved to me on the besis of satisfactory
evidence
to be the person(�{} whose name�) is/�
subscribed to the within instrument and
--�� � � --�•�---e - -• � --�- -� _� acknowledged to me that he�i�g executed
�� �t71TH GARIBAY I� the same in his/��+�g authorized
; �� CC�MM. a 1468639 � capacity(�, and that by his/�K
; � � NOTARY PUBLIC CALIFORNIA o signatu�e� on the instrument the person(�), or
ORANGECOUNTY N
I( the entity upon behalf of which the person(g)
My comm, expires Feb. 7, 2008 I�
. -.-..-�,.,:.r..,:.a„__....,,;�,.�.p�..a.,,:,,,..,,_ acted, executed the instrurnent.
WITNESS ha official se .
Plece Nolery Seal Above Signalure ol ry PuWic
OPTIONAL �.
Though fhe in/ormalion below is not required by law, il may prove valuable to persons relying on the document
and could prevent fraudulent removal and reatfachment of this form to another document.
Description of Attached Document
Title or7'ype of Docurrient: Bond No. ������0��'�"1
Document Date:
Number of Pages:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer
Signer's Name:
O Individual
O Corporate Officer — Tttle(s):
� Partner — O Limited O General
�I Attorney in Fact
O Trustee
� Guardian or Conservator
O Other:
Signer Is Representing:U. S. Specialty Insurance �omnany ._.__ _.
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State of California
County of �oS �nqe�e$
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On S%z 3�0 7 before me,
(Date)
personally appeared LoQ.EN
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MA-2Tr+A Ct-►v�q�c.�3�"r, �oT�RY t"u.tiUC_
Name, Title/Capacity, Notary Public
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Place Notary Seal and/or Any Stamp above
0 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
she/he/they executed the same in heNhis/their authorized
capacity(ies) and that by her/his/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.
�LQ�� �i�,a-���.�k�
Signature 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 �ould prevent fraudulent and/or the reattachment of this document to an unauthorized
document(s).
DESCRIP710N OF ATTACHED DOCUMENT
TITLE OR TYPE OF DOCUMENT �C�t>t- OnC� —
DATE OF DOCUMENT
SIGNER(S) IF DIFFERENT THAN ABOVE
OTHER INFORMATION
CAPACITY CLAIMED BY SIGNER (S�
SIGNER(S) NAME(S)
O INDIVIDUAL
❑ CORPORATE OFFICER
Title(s)
❑ PARTNER(S)
❑ ATTORNEY-IN-FACT
� TRUSTEE(S)
0 GUARDIAN/CONSERVATOR
❑ OTHER:
SIGNER IS REPRESENTING:
NAME OF PERSON(S) OR ENTITY(lES)
�l onc� I�o. I 00�9 SR'1
NUMBER OF PAGES
. .....:.. . . ....
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•
•BOND N0. 1000769597
PRErffUM IS -INCLIIDID
IN TBE PERFORMANCE BOND
Contractor's Payment (Labor and Materials) SURETY BOND
WHEREAS, ihe ConnDvn PD. LLC ("Obligee") and Commututv Dvnamics, Inc., ("Principat") have
entered into an agceement dated Sentember 5�. 2006, and identified as Falcon Crest Phase III:
Construction of 30 Sin�le Family Hom� and Relateii Site ConstrucHon, which is hereby referred to
and made a part hera of, whereby Principal agrees to instail and complete certa.in 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 sufficient 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. Snecialtv Ynsurance Companv, 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 boand unto Obligee in the penal sum of Four Million Three
Hundred Ninetv Six Thousand Nine Hundred Eightv Two and 72/100 Dollars ($4.396.9$2.72�, for the
payment whereof Principal and Surety bind themselves, their heirs, executors, administrators, successors,
and assigns, joint�y and severally, firmly by these presents.
7'he condition of this obIigation is such that if Principal, Principal's subcontractors, heirs, executars,
administrators, suceessors, or assigns sball fail to pay any o£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 ageement and any amendments, changes, change order,
additions, alterations, or modifications thereo� or any amounts due under the Ca[ifornia Uneraployment
lnsuranca Code with respect to such work or labor, or for any amounts required to be deducted, withheld,
and paid over to the Employment Development Deparhnent from the wages of employees of the
contractor 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 gay a reasonable attomey's fee to be fuced in court.
It is hereby expressly stipulated and agreed that this snrety bond shall inure to the benefit of any and atl
persons, companies, and corporations entided named in Section 3181 of the California Civil Code, as
amended, so as to give a right of acrion to them or their assigns in any suit brought upon this surety bond.
Tlne Surety hereby stipuiates 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 agreeraent or ta the work performed thereunder or to the specifications accompanying the
same.
IJV WITNESS WI�REOF, this instrument has been duly executed by the Surety above named on Mav
21 st, 2007.
U.S. Suecialtv Insurance Comnanv
Paul S. Dito, Aitorn�v-in-Fact
Communitv Dmamics, Inc.
��
t_..e re.cn `3l dc.Q,., P�ex � d.�t—'
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•
CALMF�RNiA ALL-PURPOSE ACKNOWLEDGMENT
State of California
County of Orange
ss.
On � I`Z1 I O"7 , before me, Edith Garibav , Notary �ii.h � � � ,
Dfue ' Neme md T'(Ile of OI(icer (e.g., '.lane Ooe, Nolery Public')
personally appearedPaul S. Dito ---------------------------------
NBme(s) d Slgner�s) �
..--<< , �. , � .� � ��
�I� EUITH GARIBAY
� �� COMM.401468639 �
> '�► NOTARY PUBUC CALIFORNIA o
� ORANGE COUNTY ^'
�! My comm, expires Feb. 7, 2008 `�
�_.._....r......�......a.,�..,R.�.��..�...,,�.,,�.,.,,..��
Place Nolery Saal Above
IXI personally known to me
❑ proved to me on the basis of satisfactory
evidence
to be the person(� whose name�) is/�
subscribed to the within instrument and
acknowledged to me that he��g executed
the same ih his/�� authorized
capacity(j�, and that by his/F�g
signature� on the instrument the person(g}, or
the entity upon behalf of which the person(g)
acted, executed the instrument.
WlTNESS
OPTIONAL �'
Though the info�matlon below is not required by law, if may prove valuable to persons relying on the documen!
and could prevent fraudulenf removal and reaftachment of this form fo anofher documen(.
Description of Attached Document
Title or i'ype of Document: $ond No .,�—j L� c�''�
Document Date:
Number of Pages:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer
Signer's Name:
f� Individual
O Corporate Of�icer — Title(s):
O Partner — O Limited ❑ Generaf
Q�1 Attorney in Fact
❑ Trustee
D Guardian or Conservator
O Other:
SignerlsRepresenting:U.S. Specialty Insurance �q��nv. __.___
-� - � �4 = W
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State of Cafifornia
•
Acknowled
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County af �0 5/� NG EL�
On �- 2 3- 0 7 before me, Mar `xG. t�4�tGti �e c-^i' i��'{'Qc rti 1'�� � � L
(Date) Name, Titie�Capacity, Notary'Public
personally appeared �.02E?J �N
Name oi Signer(s)
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❑ 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 tc, me that
she/he/they executed the same in her/his/their authorized
capacity(ies) and that by her/his/thei� 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.
c.�rt�f�R-��'
Sign ture 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 and/or the reatiachment of this document to an unauthorized
document(s).
DESCRIPTlON OF ATTACHED DOCUMENT
TITLE OR TYPE OF DOCUMENT�,y��4�.T02�5 ��NT �i�t2.6T4 ���ND _�C QN� 1�0. IOOo'�Sq�
DATE OF DOCUMENT NUMBER OF PAGES
SIGNER(S) IF DIFFERENT THAN ABOVE
OTHER INFORMATION
CAPACITY CLAIMED BY SIGNER IS�
SIGNER(S) NAME(S)
0 IND(VIDUAL
0 CORPORATE OFFICER
Title(s}
� PARTNER(S)
0 ATTORNEY-IN-FACT
0 TRUSTEE(S)
❑ GUARDlAN1CONSERVATOR
0 OTHER:
SIGNER IS REPRESENTlNG:
NAME OF PERSON(S) OR ENTITY(IES)
. .... ..:.................. ............ . :..
�r� ...14. �E!.. . ::; .:::'��i':;i;flt�AAl3t?}2)Nj:>
::::<:: ��::��u�:���:::;>:: : »:ca� �rc��r��::;>:::
TOP OF THUMB HER� TOP OF THUMB HER�
� 2004 N01'ARY PU[3LIC SEMINARS SUPPLIES • REORDER ITEMN ACK • FAX:310-9t5-0147 • www.notarypublicseminars.com
���;.
�� �
��• �
''�- ��i '�,� � �{ 1��' Ff�,,' __� - �_ �� =. s s= L= -- --
�� '' �� •
,. _ _ � �
;;��,�� QF -� _ --� � �
, l �'e ith bonds�is�s�ed�o�'.�b,e���f of U.S.�C�A �IS�RANC�ONIPANY)
��v . � `'i�'�„ ��t ,. � : re.�� � �,.;
Know All Men T ese Presents That, U.S. SPECIALTY INSURANCE COMP . the "Com dul i', "I
Y ,..r� ;�X ���;� 4., p y�;,'r�,�j[� �,
organized and existing under th�e l s oflhe�Late of T � principal•'�,�ce'�in Houston, Harr��, s by
thes��n��k�onstit� i��� �
.� = � �
_� �o ,� � � = � -
, � - � � ;� � � �f'��Johansson or Pau[ S. Dito of Orange, Caiifornia � �
' � � '�, . F �
� (�n- P ��'s�i�,�' d�' .�1 � � �
� its �e and law L o fact, w�th�full� ; ower.�and autho • in t;� � �1 an stead, to x ute,
edge a all bonds;; recognizances, unde ' s er instruments or contracts of suretyship to
�� �,�--- , . .
c � ride � and consents of surety, providing t6e bond penalty does not exceed
_�� *�*********Seven Million**'*''*********'�*"`* Dollars ($ ***��000,000.00'*" )�d to bind the Company. e eby
fully and to the same extent as if such bonds were signed by the President, sealed with the co Comp a'� ; l
attested b y its Secreta ry, hereb ti f yin g -w� - that the s�i�'� rtto��rne �n-� yact ma Said'�a�5 � �i ��- �� 'f
� , .,
'� a� under a� �- he fol the Board o�Di�edtois ofthe U. S. c[ty surance Company:
�=-
�-- � lved, tt� P�s� - �-Presiden y ssistant�Vice-President, any Secretary or any Assistant Secretary shall be and is here ves with full
�= an�authority to appoint any one or more suitable persons as Attomey(s}in-Fact to represent and act for an n If of the C _ Ilowing �
provisions: ' ' �
Atwrne in-F m e given full we �� (a,,n authori�•for and in d of the�• � ,� owledge er, any and all bonds,
= r �r greements4of inde'�rt�hit5y and'other..conditi c�i e" ings an�' y and ell�noUces and documents canceling or terminating the
s [�tik� der, and any 's�cii in`sti�iiYents so executed by any such Attomey-io-Fact shall be binding upon the Company as if signed by the President _
� n� by the Corporate Secretary. �
Be it Resolved, that the signature of any authorized officer and seal of the Company here [or r erp er affixed t or any i i �
t �..:� ry, � L
thereto by facsimile, and any power of ariomey or ce ' ' f ile sig ,� e' all be va a� ompan
� i � �d„' :i
any nd or undertaking to which ii is attached. (A i�tten cot'��� ; 1' �p ,� July 7, 2
� � v � �.
� — �, �:' �r � I,i;�; . , r i� �r,� I .. , �
��R
ess Whereo� U. S. SPECIALTY S RANCE COMPANY has cause e e to be si aed atsGVi,c�Presiden
an its corporate seal to be hereto affi th�l9th da � � �. ',��..�;,'� .:�� i' '.�"'
- � �� �� �= �
� _ ��
� ��� � �� � � � — P , � � ZJ.S. SPECIALTY INSURA,NCE COMPANY
I�I��,a'''''��Mla. a, �, 'a<�,
a ��� BY
, �St,ate of C ��
f�i
__ __ _ - _- _— ��=:_ � -�..-' -_ -_- -_
-�.-�_- _ __ _
- _ -_ = - - =.�:>= �=::_ __ _ _
� - __,�
-_ _ - - - _ _ F_ _ ';. '_
��; ", ' ot�nty o g ss: .���p� ���� —_ Adam.S. P,essin, Vice e ��
'� ':�.� �����
_ _ � �,y� : i � ,;'�;, �',' � ��
��� �
_ �'- _ of Ja�, =�ne per . Pessin, fd me known, who, being by me duly sworn, did
�� that h�i � �geles, Ca � omia, that he is Vice President of U.S. SPECIALTY INS C ,
ompany described in and which executed the above instrument; that he ows the s ���s '� ; p y; tha
said instrument is such corporate seal•-that; it� was., so affixed rd of �? � f �� pany; e
�is name er. � i �� �`�`�
� �'��..��; �i.
�� �tary Se � ,$TEV� FEDUNAK ', 1�'.. �:�
-- O, 159 I , •{� ;: !; , � �
— � N � w•c,u M oofnmission�ez ''ir'es June 2� 9
,, � �� — �S � Y P
�, I � � � � � � -. �. ��oe ��� ioo
� � �� i � � -
� ,
�,�+ � ,�,, K ���; •,.
� � �es�nie Kim _ i of U. S'� S� C�I; INSURA , here 'fy t at e above and foregoing
� �.��, . ,T?�; ��
���i_ __ and c � er of A�orney, executed by said Company, which is sti!! in full force and effeci; furthermore, the
���uf�ifns of the oard of Directors, set out in the Power of Attorney are in full force and effect. �
In Witness W ereof, I have hereupto set,my�hand and said C�jtl�a�y���eles, ( day
o � i � ' II �' , ' �'���.� ���� �� � 5 .", i �;.%
��� , , `. �� � ' i �� '{ ''+ , 7��'.
� � �' �, � �'i°•:�� �' '
Corporate Seal ,,, ,. ,;,,: SPEC/q��� � � � �
��i,�1 . ����� ��
`'�� �!ii "' � ,r . � f � z � '� .
�� � .�. r�,. `.
' Jeannie Kim Assistant Secreta � �
' >y .�. � ,
� � ��.
'. d�. � i;'<' ,4; � � � � �
Bond o � � ' � � �� � �
_ ����� I,' y �
�;'`�r ' � � : 11 . - `
,;��gency o!�I� #900 , � . ,�, �� i s
��;� ' . ����
,�I�'�'I �� � , �.�'•.
�.��:� ���� ��
� •
����I�i�I�ii�i�ol�u�i�i��i�.ii�i�i4i�i��iliiliieii�ii��ioaii�i�i.iiioii��F.��i��s�l��ui�ii'�YY���i i.�.�i �.���Il�LI��G�O�I�Yilil�t1i11r�����������r.,��iiiin�sioli�pi����:i���.�ii�ii.nil�I�ilii�i�u�iRi�i��Yl1���llllliliY�ll I�Il,i.iiiiiliie� iililili�.11
1 O
U. 5. SPECIALTY INSLTRANC'E COMPANY
9841 AIRPORT BOULEVARD, 9TH FlAOI� LOS AIJGELPS, CA 90045 (310) 649-0990 FAX (310) 649-0416
MULTIPLE OSLiGEE RIDER
% be attached to and form part of Bond Number 1000769597
W� U.S. Specialty lnsurance Company
Community Dynamics, Inc.
ComDyn Pb, LLC
for valuable consideraiion, hereby agree respe�tively in connection with a contract for
Falcon Crest Phase tll: Construction of 30 Single Family Homes and Related Site Construction
as Obligee,
which bond and contract are made a part hereof by reference, shall now include as addtt(onal Obligee(s)
Palm Desert Redevelopment Agency
This bond is subject to the condition that no Obligee shall have any rigM or ac6on 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 availabfe against thamselves.
In no event shall the Surety be liable in the aggregate to the Qbligees 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
jointfy.
Neither the execution nor language of this instrument, nor any previous negotlations, shall be construed
as relieving any Obligee from the due and Nmely performance of such obligations and duties as he, or his
agent or representative, may owe to the Principa! or the Surety under the contract or bond.
WITNESS the following signatures and seals this 21� day of May � 2007 _
vEw
Community Dynamica, Inc.
(Princxpal)
By. �i�,o ��
�-�' A (t�ame & Title)
e•LG ,
U. S. SPEC TY INSURANCE COM��ANY
(SuretY)
Paul S. Dito, Attomey-in-Facf (►�ame & TiUe)
as Surety,
as Principal, and
cw�uaotias
. . • •
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
State of California
County of Orange
ss.
On "���'Zl �T1� , before me, �dith Garibay, Notary Public ,
Da1e Name and Tlllu ol OI(�cer (e.p.,'Jana Doa, Nolery Puhlic`)
personally appearedPaul S. Dito --------------------------
Name(sj of Stgner(s) �
fXl personally known to me
CJ proved to me on the basis of satisfactory
evidence
��_._..r:y,..- -� KEaITI-I^ �/�RIBAY._.a.I�
� COMM. # 1468639 �
_ �?. N07ARY PUBLIC CAUFORNIA G
�� s ORANGE COUNTY ti
My comm. expires Feb. 7, 200II +f
.. ._ _�... R-,.,.-,... _, -a..-.., , .:�:,.�,,m:,.,.
Plece Ndery Seal Above
to be ihe person(� whose name�) is/�
subscribed to the within instrument and
acknowledged to me that he��g executed
the same in his/�g{ authorized
capacity(�, and that by his/t�K
signaturej� on the instrument the person�), or
the entity upon behalf of which the person(�)
acted, executed the instrument.
WITNESS
OPTlONAL Y
Though fhe informe7ion below is not requlred by law, if may prove valuable to persons relying on fhe document
and could prevent fraudulen! removal and reatfachment of this form to another documenf.
Description of Attached Document
Title or Type of Document: Bond No . tQQQ "j `QG� r�G1'�
Document Date:
Signer(s} Other Than Named Above:
Capacity(ies) Claimed by Signer
Signer's Name:
❑ Individual
O Corporate �fficer — Title(s):
O Partner — O Limited ❑ General
�1 Attorney in Fact
O 7rustee
0 Guardian or Conservator
❑ Other:
SignerlsRepresenfing:U.S. Specialty Insurance Comnany __.___
Number of Pages:
•�• ,���:
.
7op ol lhumb here
O t8B8 NA6un6f NoleryA7eotMUon • 9350 p Sdo Ave.. P.O. Box 2�02 • Chettwotlh, CA 81�13•2402 • w�nv.naYona4wlary.Org Piad. No. 5907 Rsader. Cntl TWFne 1•80687&6827
�
California Ail-Pu
State of California
County of �,,,OS
On�'-z3-07
(Date)
personally appeared
... .L-r `r � � �y /
�. I�+ , . . . �
: �� !� ��• •�V • • ' � +
< � �?� . - . . -. -
� ... _
,,;Z�.�y /' . � �.� : : ..
� ' � ��•
���;�...
Place Notary Seal and/or Any Stamp above
•
Acknowl
� ss.
�- ne�cl e �
\J
before me, 1�1d rTh0. �Q � f� e t"�'. i� �'hQ ry Pu �� i �
Name, Tftle/Capacity, Notary PZblic
%-r) � �Q�,�
Name of Signer(s)
�' Personaliy known to me
-OR-
0 Proved to me on the basis of satisfactory evidence to be
the person(s) whose name(s) is/are subscribed to the
within insirument and acknow(edged tu me that
she/he/they executed the same in her/his/their authorized
capacity(ies) and that by heNhis/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.
�Z�����
Signa ure of Notary Public
Optional lnformation
Law does not require the information below. This information couid be of great value to any person/persons relying
on this document and could prevent fraudulent and/or the reattachment of this document to an unauthorized
documeni(s).
DESCRIPTION OF ATTACHED DOCUMENT
TITLE OR TYPE OF DOCUMENT �� ��i c�Ce �tder - l�nc� 1�0. � 000�69 s9�
DATE OF DOCUMENT � NUMBER OF PAGES
SIGNER(S) IF DIFFERENT THAN ABOVE
OTHER INFORMATION
CAPACITY CLAIMED BY SIGNER (S�
SIGNER(S) NAME(S)
❑ INDIVIDUAL
0 CORPORATE OFFtCER
Title(s)
0 PARTNER(S)
❑ ATTORNEY-IN-FACT
❑ TRUSTEE(S)
❑ GUARDIAN/CONSERVATOR
❑ OTHER:
SIGNER IS REPRESENTING:
NAME OF PERSON(S) OR ENTITY(IES)
.. . . : ....
:� �.:..:��';: :�:Rl:>'�4�M.�PRl�JT>:
::::::�tfF<sK3w�t:�`.::::<:::: `;:;::at�::sldii#�t�'#�::<:::::
TOP OF THUMB HERE TOP OF THUMB HERE
02004 NO'fARY PUBLIC SEMtNARS SUPPUES • REORDER ITEM# ACK • FAX:310-915-0147 • www.no[arypublicseminars.com
r ' l�.` � �i �� '^�-.i �_ _ - - ---� '- _ __ __
'����F� . � ��` �I �� '�'"� �� � _
:,- :,�,: �;. =S � � �
� ��
I� �pow�. oF � __ - -_ -- � ��� � �
, � �� e ith bo'nd5�'is��ue'�lon�be�i��l�'of iJ.S��A��IS�RANCE �OMPAN�
i'�;�� 1�.`i ,�i�'il�la 1
1� ,��..� .'�'�'. � � ' YI,J 1 « I�.il���,i�
� Know A![ Men by These Presents That, U.S. SPECIALTY INSURANCE COM��P� NyY ,(ther, Comp duly ��� �}�I I
organized and existing under tlt�la�vs= e�Eate of T� ��� principal��o ,i�ice •in.Houstori, Ham �+, s by
the��t�i�onstitt�p�i �� �� �,� �i �"� '�` � �
��$i =_ �,�_ �==�-- ��
�,, _� ��� � — 6 �ei c�Johansson or Pau1 S. Dito of Orange, Caiifomia - �
� :, ,,� ��
� :� � '� �� �
its true and law �t (�i-fact, with �ull ,poy`�er and autho in ''�y' _�e�la�� 'e�at d stead, to execute,
-� � edge �"" sll bonds, recognizances, unde�i�s o er instruments or contracts of suretyship to
�
��?' � ride —` '�n �t�; and consents of surety, providing the bond penalty does not eaceed
=` —�` ************Seven Million****************** Dollars ($ *'`'`��000,000.00*** ) and to bind the Com pan ,t ,e�eb� a, s
fully and to the same extent as if such bonds were signed by the Presidgnt, sealed ,, ith the co Comp� '�ls ;,�
attested by its Secreta , h�eb�Xatifying - that the said:A �orney-ln�� �act ma Said� in met� .'
.�'�� �� .... . � ,, .
_ � under __ - -�he fol - � the BoaTd' of Directors 'of �he U. S. ecialty surance Company:
_— � Ived, t� - i— —�e-Presiden ny Assistant Vice-President, any Secretary or any Assistant Secretary shell be and is here�ves with full �_
� an�authority to appoint eny one or more suitable persons as Attomey(s}i�-Fact to represent and act r on If of the C Ilowing
provisions: �
Attorne�-(n-F given full powei`and ut *wii ����of and in of the� .�' �.�} ,, �, wledge e de ver, any and sll bonds,
0
� r_ � eements br indemnity��n other,.wnditio ' e ings and any and all notices and documents canceling or tetmineting the
_ . e der, and any s�Ich insWments so executed by any such Attomey-in-Fact shall be binding upon the Company as if signed by the President
i� en n e by the Corporate Secretary.
Be rt Resolved, that the signature of any authorized o�cer and seal of the Company�� {eRo�ore q,yy ere .�r effixed t @� or any �� i
theroto by facsimik, � any power of attomey or c f ile sig�a� '�'�o��g�����,�,� ali be va � ompan�
any or undertakin So which ' is attached. (A i�ten cons�e���►i�i di'b� i�h�� July 7, 2
f � �. � ��,, I •'.�; '
��,��� :. � : ,..'. , . "
��� ess Wherebf, U. S. SP�CIALTY SURANCE COMPANY has cause� e to be signed �, ,��ifs�iYic, ;,P,residen��
� an its corporate seal to be hereto_affixe.sl tf�l9th da�T� -� `�;•k�,y �'�' , f�� `"`•
q�,.,,, i, -- — s — � — �
r''� ' ' ad'lat��s�� '' '' — � � ,q�� � � � �U.S. SPECIALTY INSURANCE COMPANY
� � I�i � B
J T : y �� �
* VJ � y — _�� �
�:. tate of C :�, h�i�ba�` I� ���� ,�: �i ��� �
.���oun o ��ss: Adam S. Pcs in Vice , �
. . ty S I1 II ,,.�� ''t y ' �'� �
- � �', a ,�.:���r ��i�
of Ja -- �►e per _ . Pessin� Itol ine known, who, being by me duly sworn, did
— — �_ �
����that }►�i� � t�geles, Ca �fornia, that he is Vice President of U.S. SPECIALTY INS ,
mpany described in and which executed the above instrument; that he ws the � � s'�fi � o" y; tha
said instrument is such corporate seal; that.it:was.,s' =affixed d of ���� ,� f �npany; �e
�is name r. � � � . il� I �' �, • ,� �
� � l�tary Se � ,$TEVE FEDUNAK � .� r �ti ��� �
� 1Jo. 1593 �� I.t �' � ';' �
� � � — �- N = �C-G�L ��� M aommissiori�"e�Cpiies June . 2 9
� � � � t��es cou
�,u �� � �� � d�n. �, JunpI5i2049 i
�� � i �
T R! �� �i� ' �� �
- ie Kim of U. S. SP,�CI� �,:' SURA�I��R�l4i+1�,'Rb hereby ce ify that the above and foregoing
��� i and c er of Attorrie �' execu�b said Com an whicH is still in full force and effect furthermore the
Y� Y P Y, , � �
����ut ns of the oard of Directors, set out in the Power of Attorney are in full force and effect.
In Wi ness Whereof, I have t�ereunto.set,my hand and said tn �, q eles, C� day
0 0 � �:tl;:' � �t� . I I �� ��
`�.',.t11,��' ':� ���' �� I .�'` r'
� ,� ;;';�ia`�i�' '��.Y
� — — � � �.`�;,� I''�`;�,`
Co orate Seal .,.I ��, PECbq�r� � � —� �
�• ,ti '� �,� ��
� ' ' � � �
�ii,; I�,�, :�; �� 's }-e„ •
�� , i Z_,y i. :C ,,-. Jeannie Kim, Assistant Sec e
�.: � . byW 9 �,, � - � � � �
�.�,�;�:�,� c;t's.( ,�� n 'f� ��� � � ,�, .
, Bond,No� � s \` '?�fl��. ` �Y: � :� � � ,-- � —
Y : ' 1� ' �h �� �1, ��''#''. #7�� "Y'' S
�''� � Agency: No.
, : ., :
3� � � �'��� � � ��������-. ���
�.a � � -.�v � � .� � � � � . . i . .
0
U. S. SPECIALTY INSURANCE COMPANY
9841 AIRPORT BOU1.1{VARD, 9"1'H FL(X)F2, LOS ANGIiI.F.S, CA 90045 (310) 649-0990
BOND NO. 1000769597
PRE;MIUM $00.00
MAINTENANCE BOND
KNOW ALL MEN BY THESE PRESENTS, That we, Community Dynamics, lnc.
(hereinafter
called Principal), as Principal, and U. S. SPECiALTY INSURANCE COMPANY, a corporation, organized
and existin� under the laws of thc State of Texas and authorized to transact a general surety business in the Statc
of Californ�a ,(hereinafter called Surety), as Surety, are held and firmly bound unto
ComDyn PD, LLC
(hereinafter called Obligee), in the sum of Four Hundred Thirty Nine Thousand Six Hundred Ninety Eight and 27/100
DOLLARS ($ 439,698.27 ),
lawful money of the United States of America, to be paid to the said Obligce, 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.
WHE;REAS, the Principal entered into a contract with the said Obligee, dated September 5, 2006
for Falcon Crest Phase III - Construction of (30) Thirty Single Family Homes and Related Site Construction
and,
WHEREAS, 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 14th day
of
February
2008
NOW, THEREFORE, THE CONDITION OF THIS 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 inferior
materials or workmanship, then this obligation shall be void; otherwise it shall be and remain in full force and ef#ect.
SIGNED, SEALED AND DA�'F,D THIS 14th pAY OF
I�.
February 2�08•
� DCommunity D�ics, I� .
Pri��ipa!
1�.,$. SPE�IAI,TY S ANCF. COMPf+►NY
By: '/ %
Daniel Huckabay, Attorney-in-Fact
.
H('C S%J222R 10/OS
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
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STATE OF CALIFORNIA
County of Oranqe
�
On 2/14/08 before me, Arturo Avala, Notary Public
Date Here Insert Name and Title of the Officer
personally appeared Daniel Huckabay
Name(s) of Signer(s)
.l � � ^ ARTURO AYALA�
� COMM. #1636549�
� NOTARY PUBLIC-CALIFORNIAU
� ORANGE COUNTY r�
MY COMM. EXP. JAN. 10, 2010 �
y'J V 4 rr. � y V V r
who proved to me on the basis of satisfactory evidence to
be the person(s) whose name(s) is/are subscribed to the
within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies),
and that by his/her/their signature(s} on the instrument the
person(s), or the entity upon behalf of which the person(s)
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 o �� �
��
Signatur C ..� _-
Place Notary Seal Above Signature of Notary Pubiic
OPTIONAL
Though the information below is not required by law, it may prove valuable to persons relying on the documeni
and could prevent fraudulent removal and reattachment of this form to another documenf.
Description of Attached Document
Title or Type of Document: Maintenance Bond
Document Date: 2/14/08
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer(s)
Signer's Name: Daniel Huckabay
❑ Individual
❑ Corporate Officer — Title(s):
❑ Partner— ❑ Limited ❑ General
C� Attorney in Fact
❑ Trustee
❑ Guardian or Conservator
❑ Other:
Signer Is Representing:
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Top of thumb here
Number of Pages: One
Signer's Name:
❑ Individual
❑ Corporate Officer — Title(s):
❑ Partner — ❑ Limited � General
❑ Attorney in Fact - r � �_•-
❑ Trustee �
❑ Guardian or Conservator Top of thumb here
❑ Other:
Signer Is Representing:
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� 2007 National Notary Associafion • 9350 Dc Soto Avc., P.O. Box 2402 • Chatsworth, CA 91373-2402 • www.NationalNotary.org Item x5907 Reorder. Call Tol{-Free 7-800-876-6827
ACKNOWLEDGMENT
State of California
Countyof�oS ��c�C�
On 2.- I�-0� before me, i�IA�-i�A �FEL��12.T, i�OrjkR-Y t'�l8[.f�
(inse�t name and title of the officer)
personally appeared l_E) Q.EI`1 � I.00H
,
who proved to me on the basis of satisfactory evidence to be the person(sr�whose name(,s'f isEaf�
subscribed to the within instrument and acknowledged to me that he/sl�e/�ejr executed the same in
his/her�ir authorized capacity�, and that by his/her/�keir signature(�'j on the instrument the
person�a�j, or the entity upon behalf of which the person�s'f 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
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U. S. SPECIALTY INSURANCE C�MPANY
9841 A[RPORT BOIJLEVARD, 9TH FLOOR, I.nS ANGELES, CA 90045 (3 t0) G49-099(1 FAX (310) 649-041G
MULTIPLE OBLIGEE RIDER
To be attached to and form part of Bond Number � 000769597
with U.S. Speciatfy Insurance ComPany
Community Dynamics, 1nc.
ComDyn PD, LLC
_._ as Surety,
as Principa[, and
as Obligee,
for valuable consideration, hereby agree respectively in connection with a contract for
Falcon Crest Phase lll - Construction of (30) Thirty Single Family Homes and Related Site
Construction
which bond and contract are made a part hereof by reference, shall now include as additional Obligee(s}
Palm Desert Redevelopmenf 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 afl 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 penafty 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 representaiive, may owe to the Principal or the Surety under the contract or bond.
WITNESS the following signatures and seals this
Community Dynamics, Inc
BY=
14th ��, �{ February 2008
- ' YENR
U. S. SPECiAI.TY INS OMPANY
(Surety)
Y (Name 8� Title) � Daniel
Attorn
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CA474804i06
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
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STATE OF CALIFORNIA
Counry oF Orange
IJ
On 2/14/08 before me, Arturo Avala. Notary Public
Date Here Insert Name and Title ot the Officer
personally appeared Daniel Huckabay
Name(s) of Signer(s)
�^ � ,. ,.,...„....
^ARTURO AYALA�
t� COMM. #1636549�
� NOTARY PUBLIC-CALIFORNIA�
ORANGE COUNTY �,
y MY COMM. EXP. JAN. 10, 2010 �
� � � � �
who proved to me on the basis of satisfactory evidence to
be the person(s) whose name(s) is/are subscribed to the
within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies),
and ihat 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.
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 an f' �I.
� �
Signature : ��
Place Notary Seal Above � Signature of Notary Public `
OPTIONAL
Though fhe information below is not required by law, it may prove valuable to persons re/ying on the document
and could preveni fraudulent remova/ and reattachment of this form to another document.
Description of Attached Document
Title or Type of Document: Multiple Obligee Rider
Document Date: 2/14/OS
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer(s)
Signer's Name: Daniel Huckabay
❑ Individual
❑ Corporate Officer-7itle(s):
❑ Partner — ❑ Limited ❑ General
C� Attorney in Fact - c � �:•-
❑ Trustee �
❑ Guardian or Conservator Top of thumb here
❑ Other:
Signer Is Representing:
Number of Pages: One
Signer's Name:
❑ Individual
❑ Corporate Officer — Title(s):
❑ Partner — ❑ Limited ❑ General
❑ Attorney in Fact � � : • -
❑ Trustee �
❑ Guardian or Conservator Top of thumb here
❑ Other:
Signer Is Aepresenting:
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� 2007 Nauonal Netary Association • 9350 De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313-2402 • www.NationalNotary.org Itcm x5907 Reorder. Call Toll-Free t-800-876-6827
ACKNOWLEDGMENT
State of California
County of _�.p 5
ht uGE[x—S
On �.-I �}-Og before me, MA-2T�/� �fk(�gE2.l .�OT7kR�! t't..l$LlC
(insert name and title of the officer) '
personally appeared ��2E(� ��OCF{ .,
who proved to me on the basis of satisfactory evidence to be the person(,s') whose name(�'f is/�
subscribed to the within instrument and acknowledged to me that he/sbeftl�ey executed the same i�
his/b�l�#�eir authorized capacity�sj; and that by his/4erftheir signature�a'jon the instrument the
personS,a'j, or the entiry upon behalf of which the person�,s') 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.
_4Q..
WITNESS my hand and official seal.
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Signature (Seal)
POWER OF ATTORNEY
(To be used with bonds issued on behalf of U.S. SPECIALTY INSURANCE COMPANY)
Know All Men by These Presents That, U.S. SPECIALTY INSURANCE COMPANY (thc "Company"), a corporation duly
organized and existing under thc laws of the Statc of Texas, and having its principal office in Houston, Harris County, Texas, docs by
these presents make, constitute and appoint
Ralph Eidem Jr., Daniel Huckabay, or Arturo Ayala of Orange, California
its truc and lawful Attorney(s)-in-fact, with full power and authority hereby conferred 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
include riders, amendments, and consents of surety, �roviding the bond penalty does not exceed
**'' One Million *** Dollars ($ "* 1,000,000.00 *•* � and to bind the Company thereby as
fully and to the same cxtent as if such bonds were signed by the Presidcnt, sealed with the corporate seal of the Company and duly
attested by its Secrctary, hereby ratifying and confirming all that the said Attorney-in-Fact may do in the premises. Said appointment
is made under and by authority of thc following resolutions of the Board of Directors of the U. S. Specialty Insurance Company:
Be it Resoh�ed, that the President, any Vice-President, any Assistant Vice-President, any Secretary or any Assistant Secretary shall be and is hereby vested with full
power and authority to appoint any one or more suitable persons as Anomey(s)-in-Fact to represent and act for and on behalf of the Company subject to thc following
provisions:
Attorney-in-Fnct may be given full power and au[hority for and in the name of and on behalf of thc Company, to execute, acknowlcdgc and deliver, any and all bonds,
recognizances, conhacts, agrecments or indemnity and other conditional or obligatory undertakings and any and all notices and documents canceling or terminating the
Company's liability thereunder, and any such instruments so executed by any such Attomey-in-Fact shall be binding upon thc Company as if signed by the 1'resident
and sealed and effected by the Corporate Secretary.
Be it Resolved, that the si6mature of any authorized officer and seal of the Company heretofore or hereafter affixed to any power of attomey or any certificate rclating
thereto by facsimile, and any power of attomey or certificate bearing facsimile signature or facsimile seal shall be valid and binding upon the Company with respect to
any bond or undertaking to which it is attached. (Adopted by unanimous written consent in lieu of ineeting on July 7, 2003.)
In Witness Whereof, U. S. SPECIALTY INSURANCE COMPANY has caused these prescnts to bc signcd by its Vice President,
and its corporate seal to bc hereto affixed this 19th day of January, 2007.
State of California
County of Los Angeles ss:
On this 19th day of January, 2007 before me personally came Adam S. Pessin, to me known, who, being by mc duly sworn, did
dispose and say, that he resides in Los Angeles, Califomia, that he is Vice President of U.S. SPECIALTY INSURANCE COMPANY,
the company described in and which executed the above instrument; that he knows the seal of said Company; that the seal affixed to
said instrument is such corporate seal; that it was so affixed by order of the Board of Directors of the Company; and that he signed
his name thereto by like order.
..�,+�
Notary Scal � STEVe FEDUNAK � , Notary Public
Corporate Scal
sPeciq�r U.S. SPECIALTY INSURANCE COMPANY
J T % BY
h � N
C � � •
'�Zb b + �� 'f���el�—' �� .
a/y � �
Adam S. Pessin, Vice President
oComm• No. 1593578 �
� HOT/JtY PUBL�C • GK�FORNIA p
� �os�nce�stoure*r �
7 My Comcn.Exp.June29.1C09
1
My commission expires June 29, 2009
I, Jeannie Kim, Assistant Secretary of U. S. SPECIALTY INSURANCE COMPANY, do hercby certify that the above and foregoing
is a true and correct copy of a Power of Attorney, cxecuted by said Company, which is still in full force and effect; furthermore, thc
resolutions of the Board of Directors, set out in the Power of Attorney are in full force and effect.
In Witness Whercof, I have hercunto set my hand and affixed the seal of said Company at Los Angelcs, Califomia this 14th day
of February , 20 08
Bond No. 1000769597
Corporate Seal ygPEC�,q�T�
J'y T � N
c
Ty b + �
b�o,�Y �,�
Agency No. 84�2
Li1�a�- � �
Jeannie Kim, Assistant Sec, etary
POA I I I A I O/OS
QUITCLAIM AND ASSIGNMENT
This Quitclaim and Assignment ("Quitclaim and Assignment") is made this day of
, 2008, by COMDYN PD, 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 ber
By:
Its: ��
"Owner"
PALM DESERT REDEVELOPMENT AGENCY,
a public body, corporate and politic
By:
Its:
1602872.2
12281-00003
EXHIBIT "A"
That certain real property in the City of Palm Desert, County of Riverside, State of California
described as follows:
1. Phase Three Sin�le-Familv Homes:
Lots 5 through 29, inclusive, and Lots 46 through 50, 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.
�so2a�2.2 2
12281-00003