Attachment D – Subdivision
Improvement Agreement
1 SUBDIVISION IMPROVEMENT AGREEMENT
THIS SUBDIVISION IMPROVEMENT AGREEMENT (this "Agreement") is entered into this ___________ day of _________________, 20___, by and between the CITY OF PALM SPRINGS, a California charter city ("CITY"), and SERENA 386, LLC, a Delaware limited liability company (“Subdivider").
RECITALS
A. Subdivider is the owner of, and has obtained approval of a subdivision map for Tract Map No. 39025 located in the City of Palm Springs, County of Riverside, State of California (the "Property"), as described on Exhibit “A”. The map contains conditions of approval for the development of the Property (the “Conditions”) as described on Exhibit “B”.
B. Pursuant to the Conditions, Subdivider, by an instrument separate from the subdivision map (hereinafter referred to as the “Separate Instrument”), has offered dedication to the City of Palm Springs the public right-of-way for an extension of San Rafael Road from the intersection of Golden Sands Drive & Sunrise Way to the intersection of Verona Road & Whitewater Club Drive, described therein by the Separate Instrument as Exhibit “A”.
C. Subdivider has delivered to City and City has approved plans and specifications and related documents for certain “Works of Improvement” (as hereinafter defined) which are required to be constructed and installed in order to accommodate the development of the Property.
D. Subdivider's agreement to construct and install the Works of Improvement pursuant to this Agreement and its offer of dedication of the streets, easements and other improvements and facilities, as shown on the Separate Instrument, are a material consideration to the City in permitting development of the Property to proceed.
COVENANTS
Based upon the foregoing Recitals which are incorporated herein by reference and in consideration of the City's permitting development of the Property to proceed, Subdivider agrees to timely perform all of its obligations as set forth herein.
1. Construction Obligations.
1.1 Works of Improvement. Subdivider agrees, at its sole cost and expense, to construct or install or cause to be constructed or installed the street, drainage, domestic water, sanitary sewer and other improvements (herein sometimes collectively referred to as the "Works of Improvement"), as the same may be supplemented and revised from time to time as set forth herein (said plans and specifications, together with all