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HomeMy WebLinkAboutResolution No. 23-8195 - Apprv Final Tract Map No. 82282 & Agmt w-Subdivider for Const of Subdivision Public ImprvA RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY APPROVING FINAL TRACT MAP NO. 82282 AND AGREEMENT WITH THE SUBDIVIDER FOR THE CONSTRUCTION OF SUBDIVISION PUBLIC IMPROVEMENTS 11fiNEREAS, on August 2, 2023, the Planning Commission considered Final Tract Map No. 82282 (attached herein as Exhibit A) and adopted a minute action recommending City Council approval of said map; and WHEREAS, the City Engineer and City Planner have reviewed the proposed Final Tract Map and finds it to be technically correct and that all applicable Tentative Tract Map conditions have been satisfied; and WHEREAS, the City Council of the City of Downey approved a Subdivision Improvement Agreement (attached herein as Exhibit B) between the City and the developer in connection with the above -identified subdivision. WHEREAS, said agreement includes a Faithful Performance Bond (attached herein as Exhibit C) as surety for faithful performance of the terms of the agreement. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. The Final Tract Map No. 82282 attached hereto as Exhibit A is hereby approved. SECTION 2. Direct the City Clerk to transmit the Final Parcel Map No. 82282 to the Los Angeles County Recorder' Office for recordation. SECTION 3. That City Clerk shall certify to the adoption of this Resolution. APPROVED AND ADOPTED this 26 th day of September, 2023. DIA M. FPtgQAjaA`J Mayor ATTEST: `m a, MARIA ALICIA DUARTE, City Clerk I HEREBY CERTIFY that the foregoing Resolution was adopted by the City Council of the City of Downey at a Regular meeting held on the 26 th day of September, 2023, by the following vote, to wit: AYES: Council Members: Horn, Sosa, Trujillo, Frometa NOES: Council Members: None. ABSENT: Council Members: None. ABSTAIN: Council Members: None. WA-MAALICIA DUARTE, WC City Clerk EXHIBIT A 1 LOT SHEET 1 OF 3 SHEETS 38,700 SQ. FT. GROSS TRACT N,O, 82882 30,083 SQ. FT. NET IN THE CITY OF DOWNEY COUNTY OF LOS , STATE OF CALIFORNIA BEINGI ION OF A PORTION OF LOT 2 IN BLOCK A OF TRACT NO. 212, AS PER MAP RECORDED IN BOOK 14, PAGES 54 AND 55 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER SAID COUNTY. DIRECTIONFOR CONDOMINIUM PURPOSES OWNER"S STATEMENT: SURVEYOR'S STATEMENT: WE HEREBY STATE THAT WE ARE THE OWNERS OF OR ARE INTERESTED IN THE THIS MAP WAS PREPARED BY ME OR UNDER MY IS BASED UPON A LANDS 1 ISUBDIVISION DISTINCTIVE BORDER 1 1 FILING OF SAID MAP AND ffi AND WE CONSENT SUBDIVISION. ffi *. . 1 I SUBSTANTIALLY CONFORMS TO THE CONDITIONALLY APPROVED TENTATIVE MAP; THAT WE HEREBY DEDICATE TO THE PUBLIC USE ALL STREETS, HIGHWAYS, AND ALL THE MONUMENTS ARE OF THE CHARACTER AND OCCUPY THE POSITIONS OTHER PUBLIC WAYS SHOWN ON SAID MAP INDICATED; BE RETRACED; THAT TIE NOTES FOR ALL CENTERLINE MONUMENTS AND FOR ALL HONORSffi LLC, LIMITED A CALIFORNIA 1 CHERRY AVENUE ffi LP, A CALIFORNIA 9ALFM / y DATE THE MANAGE H BY.. _ F IENGINEER'S CERTIFICATE: MANAGER OF NEWPORT SIERRA LLC; GENERAL PARTNER OF CHERRY AVENUE ONE, LP 1 HEREBY CERTIFY THAT 1 HAVE EXAMINEDI IT CONFORMS THEREOF;SUBSTANTIALLY TO THE TENTATIVE MAP AND ALL APPROVED ALTERA71ONS NOTARY ACKNOWLEDGMENT: THAT ALL PROVISIONS1ORDINANCES OF THE CITY OF DOWNEY APPLICABLE AT THE TIME OF APPROVAL OF THE TENTATIVE MAP HAVE BEEN COMPLIED A NOTARY PUBLIC OR OTHER OFFICER COMPLETING 1 WITH; SUBDIVISION THAT ALL PROVISIONS OF SECTION 66442 (a) (1). (2) AND (3) HAVE BEEN COMPLIED WITH. ONLY THE IDENTITY OF THE INDIVIDUAL WHO SIGNED THE DOCUMENT TO WHICH THIS CERTIFICATE IS ATTACHED, AND NOT THE TRUTHFULNESS, ACCURACY, OR VALIDITY STATE OF CALIF IA COUNTY ON BEFORE DIRECTOR OF PUBLIC WORKS/CITY *RCE NO. 71932, EXPIRES: WHO PROVED TO ME ON THE BASS OF SATISFACTORY EVIDENCE TO BE THE PERSONO) CONTRACT ICERTIFICATE: WHOSE NAMEA ISIA$E SUBSCRI13ED TO THE WITHIN INSTRUMENT AND 1 HEREBY CERTIFY THAT 1 HAVE EXAMINED ACKNOWLEDGED TO ME THAT HE/Vt/TVtY EXECUTED THE SAME 1 IT CONFORMS WITH MAPPINGSUBDIVISION 1 I 1HIS/4&/TptR THAT I AM SA71SFIED THAT THIS MAP IS TECHNICALLY CORRECT. SIGNATUREO ON THE INSTRUMENT, THE PERSON(A OR THE ENTITY UPON BEHALF OF 1 ' INSTRUMENT. I CERTIFY UNDER PENALTY OF PERJURY UNDER THE LAWS OF THE STATE OF CALIFORNIA CITY SURVEYOR OF THE CITY DOWNEY PRINTEDSIGNA 4e:�� COF CTP I 1 MY COMMISSION 1 HEREBY CERTIFY THAT ALL SPECIAL COMMISSIONMY EXPIRES*1 IC11ON OF THE CITY OF DOWNEY TO WHICH THE LAND INCLUDED 1; THE 1"THIN1S SUBDIVISION OR ANY PART THEREOF IS SUBJECT. AND WHICH MAY BE PAID IN FULL, HAVE BEEN PAID SIGNATURESEE MORE NOTARY ACKNOWLEDGMENT ON SHEET 2. DATED I' a CITY TREASURER - CITY OF DOWNEY OMITTEDTHE SIGNATURES OF THE PARTIES NAMED HEREINAFTER AS OWNERS OF THE INTEREST SET FORTH HAVE BEEN ICLERK'S CERTIFICATE: SUBDIVISION 1. m INTEREST SUCH THAT IT CANNOT RIPEN INTO A FEE 11TIE AND SAID1 HEREBY CERTIFY THAT THE CITY COUNCIL REQUIREDNOT , 20---. APPROVED THE ATTACHED CALIFORNIAMAP AND ACCEPTED ON BEHALF OF THE PUBLIC, THE SOUTHERN 1 DEDICATIONS ffi ffi HIGHWAYS, a ELECTRICEASEMENT FOR INSTRUMENT ffi OF OFFICIAL RECORDS, RECORDS OF SAID CALIFORNIASOUTHERN 1 ffi A CORPORATION, HOLDER OF AN ELECTRICEASEMENT FOR ffi 1952 IN BOOK 38253 PAGE * OF OFFICIAL RECORDS, RECORDS OF SAID 1URPOSES RECORDED MAY 18OF OFFICIAL 1 , ffi * 1 CMC * 1 , RECORDS, OF DOWNEY RECORDS OF I COUNTY. - CITY OF DOWNEY, HOLDER OF AN EASEMENT FOR PUBLIC ROAD AND HIGHWAY1 HEREBY CERTIFY THAT SECURITYIN THE AMOUNT OF S HAS PURPOSES RECORDED MAY ffi 1965 AS INSTRUMENT NO. 3001, OF OFFICIAL BEEN FILED WITH THE EXECUTIVE OFFICER, BOARD OF SUPERVISORS OF THE SECURITYRECORDS, RECORDS OF SAID COUNTY. COUNTY OF LOS ANGELES AS SPECIAL THE SIGNATURE OF STANDARD OIL COMPANY OF CALIFORNIA, A CORPORATION, TRACT NO. 82882 AS REQUIRED RIGHTSHOLDER OF AN EASEMENT FOR LESSEE ffi GAS, MINERALSASPHALTUM AND OTHER HYDROCARBONS AND OTHER ffi BOARD OF SUPERVISORS OF DOCUMENTS RECORDED JULY ffi 1962, AS INSTUMENT NO. 3747 AND AUGUST THE COUNTY OF LOS ANGELES, STATE OF CALIFORNIA , 1962 AS INSTRUMENT NO. 3333, BOTH OFFICIAL RECORDS, RECORDS OF ffi HAVE BEEN OMITTED SUBDIVISION MAP ACT SECTION 66436 (a) ffi AS THEIRINTEREST IS SUCH THAT IT CANNOT RIPENINTO A FEE 117LE AND SAID SIGNATURES ARE NOT BY REQUIRED BY THE LOCAL gi DEPUTY DATE CONDOMINIUM THIS SUBDIVISIONIS APPROVED AS A CONDOMINIUMREQUIREDI HEREBY CERTIFY THAT ALL CERTIFICATES HAVE BEEN FILED AND DEPOSITS WHEREBY THE OWNERS OF THE 1 1 INTEREST IN THE COMMON AREAS WHICHffi PROVIDE THE 66492 AND 66493 OF THE SUBDIVISION UNITS.NECESSARY ACCESS AND UTILITY EASEMENTS FOR THE THE COUNTY OF LOS ffi STATE OF CAUFORNIA SCALE 1 "=30' TPAr.T N(I SIOSIA9 SHEET 3 OF 3 SHEETS IN THE I LEGEND: TY OF DOWNEY BEING SUBDIVIDED BY THIS COUNTY OF LOS ANGELES, STATE OF CALIFORNIA INDICATES THE BOUNDARY OF THE LAN CONDOMINIUMFOR ELECTRICCOMPANY FOR 8/15/1960 AS . INSTRUMENT NO. 332Z O.R. T6' WIDE EASEMENT OF SOUTHERN CALIFORNIA EDISON BASIS OF BEARINGS: CURVE RADIUS LENGTH. TA COMPANY FOR ELECTRIC LINE REC. 2/14/1952,I BEARING N59105*35mW OF THE CENTERLINE OF FLORENCE -"E2— 25.00' --39 —1V -89'38'21" 15' WIDE EASEMENT OF CITY OF DOWNEY FOR PUBLIC AVENUE AS SHOWN ON TRACT NO. 16618, RECORDED IN —C3 28.00 -];r4-.1-1—'""'90*16'10" ROAD AND HIGHWAY PURPOSES REC. 5/18/1965 AS BOOK 383, PAGE 38, OF MAPS, RECORDS OF SAID I C ' 5 e 850 ay INSTRUMENT NO. 2997, O.R. HIGHWAY WIDE EASEMENT OF CITY OF DOWNEY FOR PUBLIC . — ROAD AND 5/18/1965 AS FD. S&W FLUSH, LINE TABLE INSTRUMENT NO. 3001, O.R. STAMPED LA CO DPW LINE LENGTH I BEARING INSTRUMENT NO. 20170250678, REC. 3/3/2017, O.R. LPER LA. CO. PWFB 0924, y a a as INSTRUMENT NO. 20170250658, . * O.R. PG . SET S&W STAMPED PAVING. FD. SMALL PK IN LIEU OF FITS GIN S&W STAMPED LS FITS 5 . RDF8 a . C.L. 71E BOOK y . . SMALL PK . BY a TIES PER CITY DOWNEY PROD OF SELY LINE OF LOT e y PER . y Q) C.L. INTERSECTION ME BOOK . . . . . 0924 . .PK PER LA. 1 y A-163. FD. 2 MES ESTAB. BY REC. s NO REF. FROM FD. PK PER SAID MAP. LS 6999 AFTER PAVING. PG. 798 & 799. SET S&W STAMPED N59005a a y 734'Z 430.5e °� ® . ' y . w y L&T TIES TAGGED LY LINE OF LOT 1. LA" OF'TRACT NO. 212 . . . a • , . R 8 CURRENT SWLY ROW LINE OF FLORENCE * AVENUE. BEING NELY LINE OF TR. �. �° ® * g y ° ! . y ' 30' SVLY LINE OF LOTS 4 AND E--4 NWLY LINE OF LOTS y . . . y M.B. . co AND 14, TR. NO. 16618, ESTAB. PARALLEL WITH C.L. DOWNEY TO 5, INCLUSIVE I SELY LINE OF LOTS . AVENUE AND . y TO THE NWLY BLOCK pp y . 21 y ROW LINE OF SAID STREET PER i MAP. M.B. — . . ° Go .. .>00 NOT A PART OF NOT A PART OF pgSUBDIVISION .LOT 1, w SLY 17 THIS SUBDIVSION THIS . . 1 y M.B. a SWLY LINE OF LOT 8 ® 0 COR OF LOT a . . t s s BLOCK A. THROUGH g . y . . 383/38. $ LY OF 55 PER y a . . ' . y M.B. — I T 9 PER IPER SAID M.S. . 4 BEING NELY LINE OF LOT ZACCEPTED AS y LY LINE OF BLOCK y TR. NO. 21 Z M.B.THE LAND DESC.IN DEED*. 14/54-55 PER M.S. SEE DETAIL "A" : a t SEE DETAIL "A" 20-ON SHEET _. s a : a ? a o THIS 1 SUBDIVISION . ol of .FT. a cf. uj a 44 —. OD Z y y . . , 1 ` . yBLOCK �. DRIVEWAY IRE LANEJ g l � y y THE LAND DESC.IN DEED". . ' FT. T . 13 Y_4 1 °" �, y Lj k• ' OF LOT Z 15 ' BLOCK A, TR. NO. SEE DETAIL "A" z ON SHEET . $ 8 i ON SHEET 2. a —. y y 1 y . . LL 215.OV TIESPERCITY102 DOWNEY .L. INTERSECMON SWLY LINE OF LOT � s wIn 17E BOOK ®1 . . y . . , y AS INTERSECTION OF C.L. LA . BY REC. ANGLE TR.M.B. REINA AVENUE AND SWLY LINE PER SAID MAP. BEING SWLY ACCEPTED AS SWLY LINE OF OF LOT THE LAND 1 y LINE OF LOT y BLOCK A. . M.S. . NO. 21Z M.B. . . a IN LIEU OF S&T PER . NO. 29627, M.B. 1;. EXHIBIT B WHEN RECORDED RETURN TO: PUBLIC WORKS DEPARTMENT -CITY OF DOWNEY 11111 Brookshire Avenue DOWNEY, CA 90241 FOR RECORDER USE ONLY SUBDIVISION IMPROVEMENT AGREEMENT DATE OF AGREEMENT: NAME OF SUBDIVIDER: Honors, LLC and Cherry Avenue One, LP (Referred to as "SUBDIVIDER") TRACT MAP NO.: 82282 (Referred to as "SUBDIVISION") TENTATIVE MAP RESOLUTION OF APPROVAL NO.: 20-00110 (Referred to as "Resolution of Approval") ESTIMATED TOTAL COST OF IMPROVEMENTS: $ 208,0 0.00 (Two -Hundred Eight Thousand Dollars) MONUMENTATION: ; (included above) SURETY (IFAPLICABLE): Arch Insurance Company BONDS (IF APPLICABLE): SU&106867-0000 This Agreement is made and entered into by and between the CITY OF DOWNEY, a municipal corporation of the State of California (hereinafter referred to as "CITY"), and HONORS, LLC AND CHERRY AVENUE ONE, LP, whose business address is 10221 & 10303 Downey Avenue, Downey, CA 90241 (hereinafter referred to as "SUBDIVIDER"). RECITALS A. SUBDIVIDER has presented to CITY for approval and recordation, a final subdivision map of a proposed subdivision pursuant to provisions of the Subdivision Map Act of the State of California and CITY's ordinances and regulations relating to the filing, approval, and recordation of subdivision maps. The Subdivision Map Act and CITY's ordinances and regulations relating to the filing, approval, and recordation of subdivision maps are collectively referred to in this Agreement as the "Subdivision Laws". The SUBDIVIDER has an interest in the property which comprises the final subdivision map. Subdivision Improvement Agreement - Final Map No. 82282 _ 10303 Downey Av {3274213.31 Page 1 of 15 651 & 6.00213 \41067305.2 B. A tentative map of the Subdivision has been approved, subject to the Subdivision Laws and to the requirements and conditions contained in the Resolution of Approval. The Resolution of Approval is on file in the Office of the City Clerk and is incorporated into this Agreement by reference. C. The Subdivision Laws establish as a condition precedent to the approval of a final map that SUBDIVIDER must have complied with the Resolution of Approval and must have either (1) completed, in compliance with CITY standards, all of the improvements and land development work required by the Subdivision Laws or the Resolution of Approval, or (2) have entered into a secured agreement with CITY to complete the improvements and land development within a period of time specified by CITY. D. In consideration of approval of a final map for the Subdivision by the City Council, SUBDIVIDER desires to enter into this Agreement, whereby SUBDIVIDER promises to install and complete, at SUBDIVIDER's own expense, all the public improvement work required by CITY in connection with the proposed Subdivision. SUBDIVIDER has secured this Agreement by improvement security required by the Subdivision Laws and approved by the City Attorney. E. Complete Improvement Plans for the construction, installation, and completion of the improvements have been prepared by SUBDIVIDER and approved by the City Engineer by DECEMBER 2023. The Improvement Plans for TRACT MAP NO.82282 are on file in the Office of the City Engineer and are incorporated into this Agreement by this reference. All references in this Agreement to the Improvement Plans shall include reference to any specifications for the improvements as approved by the City Engineer. F. An estimate of the cost for construction of the public improvements and performing land development work in connection with the improvements according to the Improvement Plans has been made and had been approved by the City Engineer. The estimated amount is stated on Page 1 of this Agreement. The basis for the estimate is attached as Exhibit "A" to this Agreement. G. CITY has adopted standards for the construction and installation of improvements within CITY. The Improvement Plans have been prepared in conformance with CITY standards in effect on the date of approval of the Resolution of Approval. H. Prior to completion of the required improvements and their acceptance by CITY, it is necessary that certain monuments and stakes, as specified on the final map for the Subdivision, shall be installed and also that street signs be placed at intersections. I. SUBDIVIDER recognizes that by approval of the final map for Subdivision, CITY has conferred substantial rights upon SUBDIVIDER, including the right to sell, lease, or finance lots within the Subdivision, and has taken the final act necessary to subdivide the property within the Subdivision. As a result, CITY will be damaged to the extent of the cost of installation of the improvements by SUBDIVIDER's failure to perform its obligations under this Agreement, including, but not limited to, SUBDIVIDER's obligation to commence construction of the improvements by the time established in this Agreement. CITY shall be entitled to all remedies available to it pursuant to Subdivision Improvement Agreement - Final Map No. 82282 _ 10303 Downey Av {3274213.3) Page 2 of 15 65186.00213\41067305.2 this Agreement and law in the event of a default by SUBDIVIDER. It is specifically recognized that the determination of whether a reversion to acreage or rescission of the Subdivision constitutes an adequate remedy for default by the SUBDIVIDER shall be within the sole discretion of CITY. NOW, TBEREFORE, in consideration of the approval and recordation by the City Council of the final map of the Subdivision, SUBDIVIDER and CITY agree that the above recitals are incorporated herein and further agree as follows: 1. SUBDIVIDER's Obligations to Construct Improvements. SUBDIVIDER shall: a. Comply with all the requirements of the Resolution of Approval, and any amendments thereto, and with the provisions of the Subdivision Laws. b. Complete, at SUBDIVIDER's own expense, all the public improvement work required on the Tentative Map and Resolution of Approval in conformance with approved Improvement Plans and the CITY standards as follows: IMPROVEMENT DEADLINE DATE IMPROVEMENTS (Public): Sidewalk Improvements JULY 2025 Reconstruction of curb & gutter JULY 2025 Reconstruction of Portland cement concrete driveways JULY 2025 Grading of Right -of -Way JULY 2025 Underground Utilities Installation JULY 2025 Storm Drainage Installation DULY 2025 Water Services, Meters & Meter Boxes JULY 2025 Sewer Main Lateral & Detention Basin JULY 2025 Street Improvements JULY 2025 Street Trees JULY 2025 Drive Approach JULY 2025 Landscaping and Irrigation JULY 2025 NOTE: All improvements must be completed within 24 (twenty-four) months from the date of this Agreement. SUBDIVIDER agrees that CITY may impose necessary changes to the scope of the improvement work if CITY determines that such changes are necessary and incidental to the successful completion and function of the improvements or required to meet CITY's standards. C. Furnish the necessary materials for completion of the public improvements in conformity with the Improvement Plans and CITY standards. d. Acquire and dedicate, or pay the cost of acquisition by CITY, of all rights -of -way, easements and other interests in real property for construction or installation of the public improvements, free and clear of all liens and encumbrances. The SUBDIVIDER's obligations with regard to acquisition by CITY of off -site rights -of -way, easements, and other interests in real Subdivision Improvement Agreement - Final Map No. 82282 _ 10303 Downey Av {32742133) Page 3 of 15 65186100213141067305.2 property shall be subject to a separate agreement between SUBDIVIDER and CITY. SUBDIVIDER shall also be responsible for obtaining any public or private drainage easements or authorization to accommodate the Subdivision. e. Commence construction of the improvements by the time established in Section 21 of this Agreement and complete the improvements by the deadline stated in Paragraph l(b) above, unless a time extension is granted by the CITY as authorized in Section 21. f. Install all Subdivision monuments required by law prior to the completion and acceptance of the public improvements by CITY. g. Install street name signs conforming to CITY standards. If permanent street name signs have not been installed before acceptance of the improvements by CITY, SUBDIVIDER shall install temporary street name signs according to such conditions as the City Engineer may require. 2. Acquisition and Dedication of Easements or Ri6hts-of-Way. If any of the public improvement and land development work contemplated by this Agreement is to be constructed or installed on land not owned by SUBDIVIDER, no construction or installation shall be commenced before: a. The offer of dedication to CITY of appropriate rights -of --way, easements or other interest in real property, and appropriate authorization from the property owner to allow construction or installation of the improvements or work, or b. The dedication to, and acceptance by, the CITY of appropriate rights - of -way, easements or other interests in real property, as determined by the City Engineer, or C. The issuance by a court of competent jurisdiction pursuant to the State Eminent Domain Law of an order of possession. SUBDIVIDER shall comply in all respects with the order of possession. 3. Security. SUBDIVIDER shall at all times guarantee SUBDIVIDER's performance of this Agreement by furnishing to CITY, and maintaining, good and sufficient security as required by the Subdivision Laws on forms approved by CITY for the purposes and in the amounts required by Downey Municipal Code Section 9942.1 and as follows: a. To assure faithful performance of this Agreement in regard to said improvements in an amount of 100°% of the estimated cost of the improvements; and b. To secure payment to any contractor, subcontractor, persons renting equipment, or furnishing labor, materials for the improvements required to be constructed or installed pursuant to this Agreement in the additional amount of 50% of the estimated cost of the improvements; and C. As provided in Section 1.0(a) below, SUBDIVIDER shall guarantee and warrant the work done pursuant to Section 1 of this Agreement for a period of one year after final acceptance by the City Council of the work and improvements against any defective work or labor Subdivision Improvement Agreement - Final Map No. 82282 _ 10303 Downey Av {3274213.31 Page 4 of 15 65186M213\41067305.2 done or defective materials furnished (the "Warranty Period") in the additional amount of 10% of the estimated cost of the improvements; and d. SUBDIVIDER shall also furnish to CITY good and sufficient security in the amount of 100% of the estimated cost of setting Subdivision monuments as stated previously in this Agreement. The securities required by this Agreement shall be kept on file with the City Clerk. The terms of the security documents referenced on Page 1 of this Agreement are incorporated into this Agreement by this reference. Should, in the opinion of the City Engineer of the City, the amount of the security become insufficient for improvements required by this Agreement, SUBDIVIDER shall renew the security in an amount deemed sufficient by the City Engineer within ten (10) days after receiving notice from the City Engineer of the additional amount required. If any security is replaced by another approved security, the replacement shall be filed with the City Clerk and, upon filing, shall be deemed to have been made a part of and incorporated into this Agreement. Upon filing of a replacement security with the City Clerk, the former security may be released. 4. Alterations to Improvements PIans. a. Any changes, alterations or additions to the improvement plans and specifications or to the improvements, not exceeding 10% of the original estimated cost of the improvement, which are determined by CITY to be necessary and incidental to the successful completion and function of the improvements or required to meet CITY standards, shall not relieve the improvement security given for faithful performance of this Agreement. In the event such changes, alterations, or additions exceed 10% of the original estimated cost of the improvement, SUBDIVIDER shall provide improvement security for faithful performance as required by Paragraph 3 of this Agreement for 100% of the total estimated cost of the improvement as changed, altered, or amended, minus any completed partial releases allowed by Paragraph 6 of this Agreement. b. SUBDIVIDER shall construct the improvements in accordance with CITY standards in effect at the time of adoption of the Resolution of Approval. CITY reserves the right to modify the standards applicable to the Subdivision and this Agreement, when necessary to protect the public safety or welfare or comply with applicable State or Federal law or CITY zoning ordinances. If SUBDIVIDER requests and is granted an extension of time for completion of the improvements, CITY may apply the standards in effect at the time of the extension. 5. Observation of Construction. SUBDIVIDER shall at all times maintain proper facilities and safe access for observation of the public improvements by the CITY and to the shops wherein any work is in preparation. Upon completion of the work, SUBDIVIDER'may request a final walk through by the City Engineer, or the City Engineer's authorized representative. If the City Engineer, or the designated representative, determine that the work has been completed in accordance with this Agreement, then the City Engineer shall recommend acceptance of the public improvements to the City Council. No improvements shall be finally accepted unless all aspects of the work have Subdivision Improvement Agreement - Final Map No. 82282 _ 10303 Downey Av {3274213.3) Page 5 of 15 65186.00213\41067305.2 been determined to have been completed in accordance with the Improvement Plans and CITY standards. SUBDIVIDER shall bear all costs of the CITY observation of construction. 6. Release of Securities. The securities required by this Agreement shall be released as follows: a. Security given for faithful performance of any act, obligation, work or agreement shall be released upon the final completion and acceptance of the act or work, subject to the provisions of subsection (b) hereof. b. Security given to secure payment to the contractor, his or her subcontractors and to persons furnishing labor, materials or equipment shall, six months after the completion and acceptance of the work, be reduced to an amount equal to the total claimed by all claimants for whom lien have been filed and of which notice has been given to the legislative body, plus an amount reasonably determined by the City Engineer to be required to assure the performance of any other obligations secured by the security. The balance of the security shall be released upon the settlement of all claims and obligations for which the security was given. C. No security given for the guarantee or warranty of work shall be released until the expiration of the Warranty Period and until any and all claims filed during the warranty period have been settled. As provided in Paragraph 10, the Warranty Period shall not commence until final acceptance of all the work and improvements by the City Council. The City Engineer will put an item on the next available City Council meeting for purposes of release of the balance of any and all remaining funds. d. CITY may retain from any security released an amount sufficient to cover costs and reasonable expenses and fees, including reasonable attorneys' fees. 7. Iniury to Public Improvements, Public Property or Public Utilities Facilities. SUBDIVIDER shall replace or have replaced, or repair or have repaired, as the case may be, all public improvements, public utilities facilities and surveying or subdivision monuments which are destroyed or damaged as a result of any work under this Agreement. SUBDIVIDER shall bear the entire cost of replacement or repairs of any and all public or private utility property damaged or destroyed by reason of any work done under this Agreement, whether such property is owned by the United States or any agency thereof, or the State of California, or any agency or political subdivision thereof, or by CITY or any public or private utility corporation or by any combination of such owners. Any repair or replacement shall be to the reasonable satisfaction, and subject to the reasonable approval, of the City Engineer. 8. Permits. SUBDIVIDER shall, at SUBDIVIDER's expense, ensure that his/her contractors obtain all necessary permits and licenses for the construction and installation of the improvements, give all necessary notices and pay all fees and taxes required by law. 9. Default of SUBDIVIDER. Subdivision Improvement Agreement - Final Map No. 82282 _ 10303 Downey Av (3274213.3) Page 6 of 15 65186.00213\41067305.2 a. Default of SUBDIVIDER shall include, but not be limited to, SUBDIVIDER's failure to timely commence construction as provided in Section 21 of this Agreement; SUBDIVIDER's failure to timely cure any defect in the improvements; SUBDIVIDER's failure to perform substantial construction work for a period of 20 calendar days after commencement of the work; SUBDIVIDER's insolvency, appointment of a receiver, or the filing of any petition in bankruptcy either voluntary or involuntary which SUBDIVIDER fails to discharge within 30 days; the commencement of a foreclosure action against the Subdivision or a portion thereof, or any conveyance in lieu or in avoidance of foreclosure; or SUBDIVIDER's failure to perform any other obligation under this Agreement. b. CITY reserves to itself all remedies available to it at law or in equity for breach of SUBDIVIDER's obligations under this Agreement. CITY shall have the right, subject to this section, to draw upon or utilize the appropriate security to mitigate CITY's damages in event of default by SUBDIVIDER. The right of CITY to draw upon or utilize the security is additional to and not in lieu of any other remedy available to CITY. It is specifically recognized that the estimated costs and security amounts may not reflect the actual cost of construction or installation of the improvements and, therefore, CITY's damages for SUBDIVIDER's default shall be measured by the cost of completing the required improvements. The sums provided by the improvement security may be used by CITY for the completion of the public improvements in accordance with the improvement plans and specifications contained herein. In the event of SUBDIVIDER's default under this Agreement, SUBDIVIDER authorizes CITY to perform such obligation 20 days after mailing written notice of default to SUBDIVIDER and to SUBDIVIDER's surety, and agrees to pay the entire cost of such performance by CITY. CITY may take over the work and prosecute the same to completion, by contract or by any other method CITY may deem advisable, for the account and at the expense of SUBDIVIDER, and SUBDIVIDER's surety shall be liable to CITY for any excess cost or damages occasioned CITY thereby; and, in such event, CITY, without liability for so doing, may take possession of, and utilize in completing the work, such materials, appliances, plant and other property belonging to SUBDIVIDER as may be on the site of the work and necessary for the performance of the work. C. Failure of SUBDIVIDER to comply with the terms of this Agreement shall constitute consent to the filing by CITY of a notice of violation against all the lots in the Subdivision, or to rescind the approval or otherwise revert the Subdivision to acreage. The remedy provided by this subsection c. is in addition to and not in lieu of other remedies available to CITY. SUBDIVIDER agrees that the choice of remedy or remedies for SUBDIVIDER's breach shall be in the discretion of CITY. Subdivision Improvement Agreement - FinaI Map No. 82282 _ 10303 Downey Av {3274213.3) Page 7 of 15 65186M213\41067305.2 d. In the event that SUBDIVIDER fails to perform any obligation hereunder, SUBDIVIDER agrees to pay all costs and expenses incurred by CITY in securing performance of such obligations, including costs of suit and reasonable attorneys' fees. e. The failure of CITY to take an enforcement action with respect to a default, or to declare a breach, shall not be construed as a waiver of that default or breach or any subsequent default or breach of SUBDIVIDER. 10. `Varran a. As provided in Section 3(c) above, SUBDIVIDER shall guarantee or warranty the work done pursuant to Section 1 of this Agreement through the expiration of the Warranty Period. If within the Warranty Period any work or improvement or part of any work or improvement done, furnished, installed, constructed or caused to be done, furnished, installed or constructed by SUBDIVIDER fails to fulfill any of the requirements of this Agreement or the improvement plans and specifications referred to herein, SUBDIVIDER shall without delay and without any cost to CITY, repair or replace or reconstruct any defective or otherwise unsatisfactory part or parts of the work or structure. SUBDIVIDER further acknowledges and understands within the Warranty Period as the project is accepted as final, SUBDIVIDER will bear the total responsibility for all repair and/or replacement of the improvements as installed, reserving to SUBDIVIDER the right of recourse or indemnity against any third party who causes damage to such improvements. Should SUBDIVIDER fail to act promptly or in accordance with this replacement, SUBDIVIDER hereby authorizes CITY, at CITY's option, to perform the work 20 days after mailing written notice of default to SUBDIVIDER and to SUBDIVIDER's surety, and agrees to pay the cost of such work by CITY. Should CITY determine that an urgency requires repairs or replacements to be made before SUBDIVIDER can be notified, CITY may, in its sole discretion, make the necessary repairs or replacement or perform the necessary work and SUBDIVIDER shall pay to CITY the cost of such repairs. b. SUBDIVIDER's warranty shall include the responsibility for the maintenance of landscaping improvements installed pursuant to Section 1 of this Agreement. SUBDIVIDER shall provide on -going maintenance of landscape improvements installed pursuant to Section I of this Agreement for the Warranty Period. The responsibility for the maintenance of landscape improvements shall include, but not be limited to, the repair, replacement or replanting of any landscaping of deteriorating condition as directed by the City Maintenance Services Superintendent. 11. SUBDIVIDER Not Agent of CITY. Neither SUBDIVIDER nor any of SUBDIVIDER's agents or contractors are or shall be considered to be agents of CITY in connection with the performance of SUBDIVIDER's obligations under this Agreement. 12. Iniury to Work. Until such time as the improvements are accepted by CITY, SUBDIVIDER shall be responsible for and bear the risk of loss to any of the improvements constructed or installed. Until such time as all improvements required by this Agreement are fully Subdivision Improvement Agreement - Final Map No. 82282 _ 10303 DowneyAv {3274213.3) Page 8 of 15 65186.002 M41067305.2 completed and accepted by CITY, SUBDIVIDER will be responsible for the care, maintenance of, and any damage to such improvements. CITY shall not, nor shall any officer or employee thereof, be liable or responsible for any accident, loss or damage, regardless of the cause, happening or occurring to the work or improvements specified in this Agreement prior to the completion and acceptance of the work or improvements. All such risks shall be the responsibility of and are hereby assumed by SUBDIVIDER. 13. Other A.2reements. Nothing contained in this Agreement shall preclude CITY from expending monies pursuant to agreements concurrently or previously executed between the parties, or from entering into agreements with other subdividers for the apportionment of costs of water and sewer mains, or other improvements, pursuant to the provisions of CITY ordinances providing therefore, nor shall anything in this Agreement commit CITY to any such apportionment. 14. SUBDIVIDER's Obligation to Warn Public During Construction. Until final acceptance of the improvements, SUBDIVIDER shall give good and adequate warning to the public of each and every dangerous condition existent in said improvements, and will take all reasonable actions to protect the public from such dangerous condition. 15. Vesting of Ownership. SUBDIVIDER warrants that it has an interest in the real property that comprises the Subject Final Map. Upon acceptance of the work on behalf of CITY and recordation of the Notice of Completion, ownership of the improvements constructed pursuant to this Agreement shall vest in CITY. lb. Final Acceptance of Work. Acceptance of the work on behalf of CITY shall be made by the City Council upon recommendation of the City Engineer after final completion of all improvements. The City Council shall act upon the Engineer's recommendation within 30 days from the date the City Engineer notifies the City Council that the work has been finally completed, as provided in Paragraph 5. Such acceptance shall not constitute a waiver of defects by CITY. 17. Indemni"old Harmless. CITY or any officer or employee thereof shall not be liable for any injury to persons or property occasioned by reason of the acts or omissions of SUBDIVIDER, its agents or employees in the performance of this Agreement. SUBDIVIDER further agrees to protect, indemnify, and hold harmless CITY, its officials and employees from any and all claims, demands, causes of action, liability or loss of any sort, because of, or arising out of, acts or omissions of SUBDIVIDER, its agents or employees in the performance of this Agreement, including all claims, demands, causes of action, liability, or loss because of, or arising out of, in whole or in part, the design or construction or both of the improvements. This indemnification and agreement to hold harmless shall extend to injuries to persons and damages or taking of property resulting from the design or construction or both of said Subdivision, and the public improvements as provided herein, and in addition, injuries to adjacent property owners as a consequence of the diversion of waters from the design or construction or both of public drainage systems, streets and other public improvements. Acceptance by CITY of the improvements shall not constitute an assumption by the CITY of any Subdivision Improvement Agreement - Final Map No. 82282 _ 10303 Downey Av {3274213.31 Page 9 of 15 65186.00213\41067305.2 responsibility for any damage or taking covered by this paragraph. CITY shall not be responsible for the design or construction of the Subdivision or the improvements pursuant to the approved improvement plans or map, regardless of any negligent action or inaction taken by CITY in approving the plans or maps, unless the particular improvement design was specifically required by CITY over written objection by SUBDIVIDER submitted to the City Engineer before approval of the particular improvement design, which objection indicated that the particular improvement design was dangerous or defective and suggested an alternative safe and feasible design. Provisions of this paragraph shall remain in full force and effect for 10 years following the final acceptance by the CITY of the improvements. It is the intent of this section that SUBDIVIDER shall be responsible for all liability for design and construction of the improvements installed or work done pursuant to this Agreement and that the City shall not be liable for any negligence, nonfeasance, misfeasance or malfeasance in approving, reviewing, checking, or correcting any plans or specifications or in approving, reviewing or inspecting any work or construction. The improvement security shall not be required to cover the provisions of this paragraph. The requirements as to the types and limits to be maintained by SUBDIVIDER, and any approval of such insurance by CITY, are not intended to and will not in any manner limit or qualify the liabilities and obligations otherwise assumed by SUBDIVIDER pursuant to this Agreement, including, without limitation, to the provisions concerning indemnification. 18. Before commencing performance under this Agreement, and at all other times this Agreement is in effect, SUBDIVIDER must procure and maintain insurance in the type and coverage limits, and other requirements, required by the CITY. 19. Sale or Disposition of Subdivision. Sale or other disposition of this property will not relieve SUBDIVIDER from the obligations set forth herein. SUBDIVIDER agrees to notify CITY in writing at least 30 days in advance of any actual or pending sale or other disposition of the property. If SUBDIVIDER sells the property or any portion of the property within the Subdivision to any other person, SUBDIVIDER may request a novation of this Agreement and a substitution of security. Upon approval of the novation and substitution of securities, SUBDIVIDER may request a release or reduction of the securities required by this Agreement. Nothing in the novation shall relieve SUBDIVIDER of the obligations under Paragraph 17 for the work or improvement done by SUBDIVIDER. 20. Time of the Essence. Time is of the essence of this Agreement. 21. Time for Commencement of Work/Time Extensions. SUBDIVIDER shall commence substantial construction of the improvements required by this Agreement not later than nine (9) months prior to the time for completion. In the event SUBDIVIDER is unable to complete the improvement work by the deadline, a written request to extend the deadline shall be submitted to the City Engineer at least four (4) weeks in advance of the deadline, and said request will be presented to the City Council for consideration. At that time, the City Council shall have the option of terminating or extending this Agreement. If an extension of the deadline is allowed, the City Council may require additional securities, including, but not limited to, forfeitable cash deposits, to guarantee construction of Subdivision Improvement Agreement - Final Map No. 82282 _ 10303 Downey Av 13274213.31 Page 10 of 15 65186.00213\4 1067305.2 the public improvements by the extended deadline. The City Council shall be the sole and final judge as to whether or not good cause has been shown to entitle SUBDIVIDER to an extension. Delay resulting from an act of CITY, or by an act of God, which SUBDIVIDER could not have reasonably foreseen, or by a government action beyond the control of SUBDIVIDER in response to the COVID- 19 virus thereby preventing construction (a "COVID-19 Delay"), or by storm or inclement weather which prohibits the conducting of work, and which were not caused by or contributed to by SUBDIVIDER, shall constitute good cause for an extension of the time for completion. As a condition of such extension, the City Manager may require SUBDIVIDER to furnish new security guaranteeing performance of this Agreement as extended in an increased amount as necessary to compensate for any increase in construction costs as reasonably determined by the City Engineer. 22. No Vestin of Rights. Performance by SUBDIVIDER of this Agreement shall not be construed to vest SUBDIVIDER's rights with respect to any change in any zoning or building law or ordinance. 23. Notices. All notices required or provided for under this Agreement shall be in writing and delivered in person or sent by mail, postage prepaid and addressed as provided in this section. Notice shall be effective on the date it is delivered in person, or, if mailed, on the date of deposit in the United States Mail. Notices shall be addressed as follows unless a written change of address is filed with CITY: CITY: City of Downey Public Works Department 11111 Brookshire Avenue Downey, CA 93446 Attention: SUBDIVIDER: Honors LLC, and Cherry Avenue One, LP 10841 Paramount Boulevard Suite 203 Downey, California 90241 Attention: 24. Severability. The provisions of this Agreement are severable. If any portion of this Agreement is held invalid by a court of competent jurisdiction, the remainder of the Agreement shall remain in fall force and effect unless amended or modified by the mutual consent of the parties. 25. Cautions. The captions of this Agreement are for convenience and reference only and shall not define, explain, modify, limit, exemplify, or aid in the interpretation, construction, or meaning of any provisions of this Agreement. 26. Litigation or Arbitration. In the event that suit or arbitration is brought to enforce the terms of this Agreement, the prevailing party shall be entitled to litigation costs and reasonable attorneys' fees. Subdivision Improvement Agreement - Final Map No. 82282 _ 10303 Downey Av {3274213.3} Page 11 of 15 65186.00213141067305.2 27. Incorporation of Recitals. incorporated into the terms of this Agreement. The Recitals to this Agreement are hereby 28. Entire Agreement. This Agreement constitutes the entire Agreement of the parties with respect to the subject matter. All modifications, amendments, or waivers of the terms of this Agreement must be in writing and signed by the appropriate representatives of the parties. In the case of CITY, the appropriate party shall be the City Manager. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK - SIGNATURES ON NEXT PAGE] Subdivision Improvement Agreement Final Map No. 82282 _ 10303 Downey Av {3274213.3} Page 12 of 15 65186.00213\41067305 2 IN WITNESS WHEREOF, this Agreement is executed by CITY, by and through. its Mayor. CITY CITY OF DOWNEY y ayor, ClaudiAlf.<Fromenta ATTEST: APPROVED AS TO FO By: Marih Alicia Duarte, C1V C, City Clerk CITY ATTORNEY SUBDIVIDER: Honors LLC, a California limited liability company and Cherry Avenue One, LP, a California Limited Partnership By Date: Print Name & e: Donald Jervis Manager of Honors LLC and General Partner of Cherry Avenue One, LP (SIGNATURES MUST BE NOTARIZED) Subdivision Improvement Agreement - Final Map No. 82282 10303 Downey Av {3274213.3) _ Page 13 of 15 65186.00213\41067305.2 CALIFORNIA 1 L T CIVIL CODE § 118 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of On 0 ...Vifir before me, VL�Ai Date Here Insert Name and Title of the Offi er personally appeared r4LX A � Name(s) of Signer(s) 2'pt*7 LOS Anje MILUU11s) Commission # 2419427 Pat CI 1UPIt la uLAB 01 I1 l Wl ice. L. My Comm. Expires Oct 4, 2024 WITNESS my hand and official seal. q Signature Place Notary Seal dndlor Stamp Above Signature of Notary Public OPTIONAL Completing this information can deter alteration of the documen fraudulent reattachment of this form to an unintended'doc ent. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s)!��C"----'- KI..--. ; cep., r nI-- C2018 National Notary Association State of ACKNOWLEDGMENT ss. County of On before me, { (here insert name and title of the officer) personally "appeared ::60,�Au ��(S personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(l) whose name$) is/aje subscribed to the within instrument and acknowledged to me that he/s /tVy executed the same in his/h/r/thgir authorized capacity(i9e) and that by hislh f/th or signature on the instrument the person( or the entity upon behalf of which the person() acted, executed the instrument. Witness my hand and official seal. I. RARRISM Q �- Notary Rubitc • Califania Las Angeles ubCaunty Signature Commission # 2367336 y Carer.. Wires Aug 16, 2025 ACKNOWLEDGMENT State of ss. County of On before' me, (here insert name and title of the officer) personally appeared personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s) or the entity upon behalf of which the person(s) acted,' executed the instrument. Witness my hand and official seal. Signature ACKNOWLEDGMENT State of ss. County of On before me, (here insert name and title of the officer) personally appeared personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s) or the entity upon behalf of which the person(s) acted, executed the instrument. Witness my hand and official seal. Signature 13274213.3) Page 14 of 15 65186.00213141067305.2 M, Basis for Estimated Cost of Construction of Public Improvements and Performing Land Development Work (See Attached) {3274213.3} A - 1 65186.00213\41067305.2 8/17/2023 FILE/CASE: TRACT MAP NO. 82282 LOCATION 10303 Downey Avenue Item No, Description Quantity & Unit Unit Price Amount 1 Construct 4-inch thick PCC Sidewalk and Slab 500 SF $11.00 = $5,500 00 2 Remove and Reconstruct PCC Curb and Two -Foot Gutter 75 LF $75.00 = $5,625`00 3 Remove Existing Improvements & Construct PCC Driveway Approach 300SF $15.00 = $4,50000 4 Remove and Reconstruct 4-Inch Thick AC Paveouts 100 LF $11,50 ' _ $1,15000 5 Remove Existing Improvements & Construct New Parkway Drain 1 EA $2500.00 = $2,50000 6 Remove (2) Existing Trees and Stumps 2 ` EA $1,500.00 = $3,000 00 7 Construct 6-Inch U.C.P. Sewer Lateral 1 EA $10,000.00 = $10,00000 8 Relocation of Existing Fire Hydrant 1; EA $5000.00 $5,00000 9 Construct Water meter service line, meter and meter box 12 EA $7500.00 = $90,00000 Subtotal = Labor and Materials (50%) `'= One-year Guarantee (5%) = Attorney and Inspection Fees = Total Estimate = $127,275:00 $63,63750 $6,363.75 $10,000.00 $207,276.25 TOTAL CASH DEPOSIT REQUIRED FOR THIS PROJECT IS $208,000.00l ----- -------- ------------------------- DATE: 44� DATE: EXHIBIT C a Bond No(s) SU7106867-0000 Premium $6,240.00 FAITHFUL PERFORMANCE BOND (Single Surety Form) WHEREAS, the CITY OF DOWNEY, a municipal corporation of the State of California ("City"), Honors, LLC and Cherry Avenue One, LP, an Limited Liability Corporation and Limited Partnership, both incorporated in the State of California as principal ("Principal") have entered into an agreement entitled Tract Map No. 82282 Tentative Map Resolution of Approval No. 20-00100, incorporated herein by reference and referred to as the "Contract," which requires Principal to install and complete certain designated public improvements; and, WHEREAS, under the terms of the Contract and prior to commencing any work under the Contract, the Principal is required to furnish a bond to City for the faithful performance of the Contract. NOW, THEREFORE, we the Principal and Arch Insurance Company, which is a corporation duly authorized and admitted to transact business and issue surety bonds in the State of California ("Surety"), is held firmly bound unto the City in the sum of Two Hundred Eight Thousand and No1100 Dollars ($208,000.00), for the payment of which sum well and truly to be made, we the Principal and Surety bind ourselves, our heirs, executors, administrators, successors, and assigns, jointly and severally. The condition of this obligation is such that, if the Principal, Principal's heirs, executors, administrators, successors, or assigns shall in all things stand to and abide by, and well and truly keep and perform all covenants, conditions, and agreements required to be kept and performed by Principal in the Contract and any changes, additions, or alterations made thereto, to be kept and performed at the time and in the manner therein specified, and Downey Performance Bond in all respects according to their true intent and meanings, and shall indemnify and save harmless City, its officers, employees, and agents, as therein provided, then this obligation shall be null and void; otherwise, it shall be and remain in full force and effect. As a part of the obligation secured hereby and in addition to the sum specified above, there shall be included all costs, expenses, and fees, including attorney's fees, reasonably incurred by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered. The Surety, for value received, hereby stipulates and agrees that no change, extension of time, alteration, or addition to the terms of the Contract or to the work to be performed thereunder or to the specifications accompanying the same shall in any way affect each of their obligations on this bond, and the Surety does hereby waive notice of any such change, extension, alteration, or addition. IN WITNESS WHEREOF, this instrument has been duly executed by authorized representatives of the Principal and Surety. SIGNED AND SEALED on August 22 , 20 23 PRINCIPAL: Honors, LLC and Cherry Avenue One, LP (Principal name ea 2 Downey Performance Bond BY: (Signature) O h Ai ® D- Te4vij'- #76h6 f1t- (Print name and Title) Principal address: 10841 Paramont BLVD, Suite 203 Downey, CA 90241 SURETY: Arch Insurance Company (Surety name) BY: (Signature) Aaron Steffey, Attorney -in -Fact (Print name and Title) (Seal) Principal Telephone. 562-706-6500 Surety address: Surety telephone: Harborside 3, 210 Hudson ST, Suite 300 1-877-688-2724 Jersey City, NJ 07311 Affix Corporate Seals Attach Notary Jurats for All Signatures Attach Power -of -Attorney if executed by Attorney-i 3 Downey Performance Bond Downey Performance Bond CALIFORNIA• • • (1 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of Call ornia ) County of [ ) On �`�_�s before me, ��, f c✓ �( C! Date Here Insert Name and Title of the Officer personally appeared Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(4 whose name is/z subscribed to the within instrument and acknowledged to me that he/q(e/tidy executed the same in his/hjlth/r authorized capacity(i96), and that b his/iy�,k/tly�ir signature(} on the instrument the person, or the entity upon behalf of which the persontacted, 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. I.MAWSH WITNESS my hand and official seal. I*Rotary Public . Califon" Les Aflpl!t County Commission ! 2367316 .* Comm. 610m, A4 l6„ 2023 Signature Signature of Notary Pub Place Notary Seal Above OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended 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: ❑ Corporate Officer — Title(s): ❑ Partner — 1❑ Limited [I General ❑ Individual 7, Attorney in Fact ❑, Trustee Guardian or Conservator 7— Other: Signer Is Representing: Number of Pages: Signer's Name: ❑ Corporate Officer — Title(s): El Partner — .] Limited ❑ General Individual ❑ Attorney in Fact El Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: ©2016 National Notary Association • www.NationalNotary.org • 1-800-US NOTARY (1-800-876-6827) ltem #5907 Surety Acknowledgment State of Indiana County of Hamilton On August 22, 2023 , before me personally came Aaron M. Steffey to me known, who, being by me duly sworn, did depose and say that he/she is an Attorney -In -Fact of Arch Insurance Company , the corporation described in and which executed the within instrument; that he/she knows the corporate seal of said corporation; that the seal affixed to the within instrument is such corporate seal, and that he/she signed the said instrument and affixed the said seal as Attorney -In -Fact by authority of the Board of Directors of said corporation and by authority of this office under the Standing Resolutions thereof. My commission expires: February 29, 2024 Mildred Steffey, Notary Public MILDRED SIEFFEY Notary Public • Seal Hamilton County -State of lavd�ana Commission Number MP0680890 my Commission Expires Feb 29. 2024 AIC 0000348983 Bond SU 7106867-0000 This Power af,4ttorney lfmfts the ads of chose named herez% and they have no auhhorrly to hind the Co1wany except in the manner and re the er:rent herein stated Not vah'dforNote, Loan, leder of0,?J24 GurreneyRa e, InteresfRafe orResidenllalYalne Guarantees POWER OF ATTORNEY Know All Persons By These Presents: That the Arch Insurance Company, a corporation organized and existing under the laws of the State of Missouri, having its principal administrative office in Jersey City, New Jersey (hereinafter referred to as the "Company") does hereby appoint: Aaron Steffey and Chris Kolger of Houston, TX (EACH) its true and lawful Attorney(s)m-Fact, to make, execute, seal, and deliver from the date of issuance of this power for and on its behalf as surety, and as its act and deed: Any and all bonds, undertakings, recognizances and other surety obligations, in the penal sum not exceeding One Million Five Hundred Thousand Dollars 1 500( ,000.00� This authority does not permit the same obligation to be split into two or more bonds In order to bring each such bond within the dollar limit of authority as set forth herein. The execution of such bonds, undertakings, recognizances and other surety obligations in pursuance of these presents shall be as binding upon the said 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 administrative office in Jersey City, New Jersey. This Power of Attorney is executed by authority of resolutions adopted by unanimous consent of the Board of Directors of the Company on December It, 2020, true and accurate copies of which are hereinafter set forth and are hereby certified to by the undersigned ,Secretary as being in ,full force and effect: "VOTED, That the Chairman of the Board, the President, or the Executive Vice President, or any Senior Vice President, of the Surety Business Division, or their appointees designated in writing and filed with the Secretary, or the Secretary shall have the power and authority to appoint agents and attorneys -in -fact, and to authorize them subject to the limitations set forth in their respective powers of attorney, to execute on behalf of the Company, and attach the seal of the Company thereto, bonds, undertakings, mcognizances and other surety obligations obligatory in the nature thereof, and any such officers of the Company may appoint agents for acceptance of process." This Power of Attorney is signed, sealed and certified by facsimile under and by authority of the following resolution adopted by the unanimous consent of the Board of Directors of the Company on December 11, 2020: VOTED, That the signature of the Chairman of the Board, the President, or the Executive Vice President, or any Senior Vice President, of the Surety Business Division, or their appointees designated in writing and filed with the Secretary, and the signature of the Secretary, the seal of the Company, and certifications by the Secretary, may be affixed by facsimile on any power of attorney or bond executed pursuant to the resolution adopted by the Board of Directors on December 11, 2020, and any such power so executed, sealed and certified with respect to any bond or undertaking to which it is attached, shall continue to be valid and binding upon the Company. In Testimony Whereof, the Company has caused this instrument to be signed and its corporate seal to be affixed by their authorized officers, this 6th day of August 2021 Attested and Certified Arch Insurance Company (�4psp,D%Regan A. Shulman, Secretary Stephen C. Ruschak, Executive Vice President STATE OF PENNSYLVANIA SS COUNTY OF PHILADELPHIA SS I, Michele Tripodi, a Notary Public, do hereby certify that Regan A. Shulman and Stephen C. Ruschak personally known to me to be the same persons whose names are respectively as Secretary and Executive Vice President of the Arch Insurance Company, a Corporation organized and existing under the laws of the State of Missouri, subscribed to the foregoing instrument, appeared before me this day in person and severally aelmowledged that they being thereunto duly authorized signed, sealed with the corporate seal and delivered the said instrument as the free and voluntary act of said corporation and as their own free and voluntary acts for the uses and purposes therein set forth. CONOM"Ism a P wwft * •+bury sod MfKM1 M 001, Notary PWk Phu&wma COMAY AVCWffl* lon EarpkftJ* 31, 2M Laari1 w muffker 116W2 Michele Tripodi, Notary Public My commission expires 07/31/2025 CERTIFICATION 7 I, Regan A. Shulman, Secretary of the Arch Insurance Company, do hereby certify that the attached Power of Attorney dated August 6, 2021 on behalf of the person(s) as listed above is a true and correct copy and that the same has been in full force and effect since the date thereof and is in full force and effect on the date of this certificate; and I do further certify that the said Stephen C. Ruschak, who executed the Power of Attorney as Executive Vice President, was on the date of execution of the attached Power ofAttomey the duly elected Executive Vice President of the Arch Insurance Company. IN TESTIMONY WHEREOF, I have hereunto subscribed my name and affixed the corporate seal of the Arch Insurance Company on this 22nd day of AA gust, 2023. 4, A, s C/ • V Regan A. Shulman, Secretary This Power of Attorney limits the acts of those named therein to the bonds and undertakings specifically named therein and they have no authority to bind the Company except in the manner and to the extent herein stated. PLEASE SEND ALL CLAIM INQUIRIES RELATING TO TINS BOND TO THE FOLLOWING ADDRESS: Arch Insurance — Surety Division 3 Parkway, Suite 1500 Philadelphia, PA 19102 u[rureMnrc sm tsn To verify the aatherrkcity ofthis Power of Alttorney, pleese camas. Arch Inrurence Campauy at.Surely�,tutherNrc@arebiamrance. enm Please refer to tine above xamedAuorneyia-Feel and the details oflhe hoed to which thepoweris attached. yissaue�/ AICUA04010 Printed in U_S.A.