1985-0618_BANK OF AMERICA_Maintenance AgreementAGREEMENT RELATING TO THE�'���"
INSTALLATION AND MAINTENANCE OF LANDSCAPING - 7
(SUBDIVISION TRACT NOS. 10103, 11093, y
11094 AND 11095 - CAPISTRANO ROYALE)
THIS AGREEMENT is made and entered into this 18�day
of June, 1985, by and among the CITY OF SAN JUAN CAPISTRANO, a
Municipal corporation, hereinafter referred to as "City"; BANK
OF AMERICA, N.T.& S.A., a national banking association, here-
inafter referred to as "Bank"; AMERICAN SAVINGS AND LOAN
ASSOCIATION, a California corporation, hereinafter referred to
as "ASL"; AMERICAN FEDERAL SAVINGS AND LOAN ASSOCIATION OF
IOWA, a federal savings and loan association, hereinafter
referred to as "AmFed"; SECURITY FEDERAL SAVINGS AND LOAN
ASSOCIATION, a federal savings and loan association, herein-
after referred to as "Security"; and WESTERN HOME MORTGAGE
CORPORATION, a California corporation, hereinafter referred to
as "WHMC". Bank, ASL, Security and AmFed are sometimes
hereinafter collectively referred to as the "Lenders".
W I T N E S S E T H
WHEREAS, The Goeden Company, a California corporat-
ion, hereinafter referred to as "Goeden", entered into a
Subdivision Agreement with City pursuant to which Goeden
undertook to construct certain public improvements (the
"Public Improvements") and to install certain landscaping (as
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more particularly described in Section l.lb(i), the
"Landscaping") and certain irrigation equipment (as more
particularly described in Section l.lb(ii), the "Irrigation")
in connection with Goeden's development of a residential
subdivision (the "Subdivision") consisting of 118 residential
lots (designated by lot numbers on the recorded final tract
maps) and certain common area lots (designated by lot letters
on the recorded final tract maps) in Tract 10103, Tract 11093,
Tract 11094 and Tract 11095 in the City of San Juan
Capistrano, County of Orange, State of California, more
popularly known as "Capistrano Royale"; and
WHEREAS, Developers Insurance Company, a California
corporation, hereinafter referred to as "DICO", issued its
performance bond guarantying the completion of the Public
Improvements; and
WHEREAS, the Capistrano Royale Homeowners
Association, a California corporation, hereinafter referred to
as the "Association" has been duly incorporated and a board of
directors of the Association has been duly elected by the
members of the Association for the management and control of
the Subdivision pursuant to that certain Master Declaration of
Covenants, Conditions and Restrictions for Capistrano Royale
(the "Declaration") recorded June 14, 1982 as Instrument No.
82-201112 in the Official Records of Orange County,
California; and
WHEREAS, each of the Lenders made or purchased cer-
tain loans secured by deeds of trust on certain of the resi-
dential lots in the Subdivision, the borrowers under said
loans have defaulted, the Lenders have commenced foreclosure
proceedings under said deeds of trust, AmFed has acquired
title to 7 lots, Bank has acquired title to 23 lots, Security
has acquired title to one lot and ASL has acquired title to 66
lots and is in the process of foreclosing on 17 lots; and
WHEREAS, Goeden has failed to complete construction
of the Public Improvements, has failed to complete install-
ation of and to maintain the Landscaping and Irrigation, and
has failed to complete construction of certain common area
improvements in the Subdivision; and
WHEREAS, the City has entered into an agreement with
RICO for the completion of the Public Improvements and DICO
has commenced such work; and
WHEREAS, the Lenders agree to contribute certain
funds to finance the installation and initial maintenance of
the Landscaping and Irrigation in the manner set forth in
Section 2.2 hereof and Bank and AmFed agree to make and
finance certain other common area improvements in the Sub-
division in the manner set forth in Section 3.2 hereof; and
WHEREAS, City agrees to form an assessment district
for the purpose of installing and maintaining the Landscaping
and Irrigation as more fully set forth below;
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NOW, THEREFORE, BE IT MUTUALLY AGREED AMONG CITY AND
THE LENDERS AS FOLLOWS:
ARTICLE I. FORMATION OF LANDSCAPE MAINTENANCE
DISTRICT.
1.1 Subject to receipt of the funds to be provided
by the Lenders pursuant to Section 2.2 below, City agrees as
follows:
a. On or before August 6, 1985, City shall
adopt a resolution creating a landscape maintenance district
(the "District") pursuant to the "Landscape and Lighting Act
of 1972" (California Streets and Highways Code SS 22500-22663)
for the purposes and with the obligations and powers herein-
after set forth. The District shall consist of all property
within the Subdivision provided that only residential lots
within the Subdivision shall be subject to assessment and
common area lots as shown on the recorded final tract maps for
the Subdivision shall not be subject to assessment.
b. The District shall be responsible for and
authorized to do the following:
(i) Subject to the limitations set forth
in paragraphs c and d, below, installation, maintenance,
clean-up and restoration of all Landscaping in accordance with
the landscaping plans prepared by R. W. Forsum, pages 1
through 45, initialled and dated by each of the Lenders and
City and on file with the City Public Works Director (the
"Plans").
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(ii) Subject to the limitations set forth in
paragraphs c and d, below, installation, maintenance, repair
and operation of the irrigation in accordance with the Plans
including all irrigation lines, sprinkler heads, automatic
controllers and other irrigation equipment, with the exception
of irrigation plans for Firebreak Lots (as hereinafter
defined) which shall be modified so as to delete common
service points with a substitute to provide separate
Irrigation systems to service the Landscaping on each
Firebreak Lot.
(iii) Annual weed abatement program as required
on all common area lots in the Subdivision.
C. Upon completion of the installation of all
Landscaping and Irrigation on that portion of Lot A of Tract
11093 consisting of the Association recreation center and
parking lot (the "Recreation Center") the maintenance thereof
shall be the responsibility of the Association and the
District shall have no further obligation to install, main-
tain, restore or cleanup the Landscaping or Irrigation on the
Recreation Center. However, the District shall retain the
obligation to maintain the Landscaping and Irrigation on the
remainder of said Lot A of Tract 11093, including, but not
limited to, the obligation to maintain slope Landscaping
around the Recreation Center.
d. The Plans provide for certain firebreak
Landscaping and Irrigation to be installed on certain resi-
dential lots in with required firebreak Landscaping (the
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"Firebreak Lots"). The District shall install the Landscaping
and Irrigation on each Firebreak Lot within thirty (30) days
after written request therefor by the record owner of such
Firebreak Lot (but not prior to such request) provided such
Firebreak Lot has an operating water meter. The District
shall maintain sufficient reserves to install the Landscaping
and Irrigation on any Firebreak Lots on which the Landscaping
and Irrigation have not yet been installed. Following
installation of the Landscaping and Irrigation on any
Firebreak Lot, the maintenance thereof shall be the responsi-
bility of the record owner of such Firebreak Lot and the
District shall thereafter have no further obligation therefor.
e. On or before August 20, 1985, City shall
award one or more contracts for the installation and mainte-
nance of the Landscaping and Irrigation. City shall use its
best efforts to let contracts which are as economical as
possible consistent with sound business practice. All
contracts shall contain such warranties as are standard in the
landscaping and irrigation contracting industries. City shall
cause the installation and maintenance of the Landscaping and
Irrigation to be commenced not later than August 31, 1985, and
completed not later than January 27, 1986.
f. On or before August 10, 1985, City shall
notify the Orange County Tax Assessor of the assessments to be
levied on the residential lots within the District for the
operation of the District.
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1.2 The Lenders each agree to cooperate in the
formation of the District as follows:
a. Each Lender agrees to waive its statutory
rights as an interested person or as a land owner within the
District to protest the formation of the District under
California Streets and Highways Code Section 22589.
b. The Lenders agree to convey to the
District, and Bank shall use its best efforts to cause the
Association to convey to the District, such open space
easements or other rights of entry over their respective lots
as the District shall require for the purpose of installing,
maintaining and operating the Landscaping and Irrigation and
carrying out the purposes of this Agreement. In the event
that the District is terminated, the District shall vacate all
such easements and rights of entry.
1.3 After such time as not fewer than seventy-one
(71) of the residential lots in the District have been sold to
individual homeowners, the City shall entertain a petition
signed by a majority of all of the record owners of the
residential lots in the District for the termination of the
District. City agrees not to terminate the District prior to
the filing of such a petition.
ARTICLE II. INITIAL FINANCING OF LANDSCAPE
MAINTENANCE DISTRICT.
2.1 City shall form the District and cause the
District to be operated in accordance with the Landscape
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Budget set forth in Exhibit A attached hereto and incorporated
herein by this reference.
2.2 a. On or before June 28, 1985, the Lenders
shall contribute in cash a total sum of $390,725 for the cost
of the formation of the District and the initial operation of
the District for the eight months period commencing upon
completion of the installation of the Landscaping and
Irrigation all in accordance with the Landscape Budget. The
contributions of the Lenders shall be in proportion to their
ownership interests of residential lots in the Subdivision as
follows:
Lender
ASL
Bank
AmFed
Security
TOTAL
Cash Contribution
$284,475
$ 78,830
$ 23,993
3,427
39$ 0,725
b. In the event that any Lender or Lenders
fails to timely make its or their full contribution in cash on
or before June 28, 1985, then this Agreement shall be null and
void ab initio, all contributions shall be returned to the
Lender or Lenders who timely make their contributions and no
party shall have any right or obligation hereunder.
2.3 City shall cause the District to invest the
District funds not immediately required for current operating
purposes in investments of the type, quality, maturity and
0
yield of investments in which City invests public funds. Each
calendar quarter, 73% of all income from the investment of
District funds contributed by the Lenders pursuant to Section
2.2 above, shall be paid to ASL. Upon the expenditure or
refunding of any portion of such District funds, the District
shall have no further obligation to pay to ASL any income from
the investment of such District funds so expended or
refunded. The balance of such income shall be added to the
District funds and utilized for District purposes as set forth
in this Agreement. On or before July 1, 1986, City shall
cause the District to prepare and deliver to each of the
Lenders a final accounting of all District funds received and
expended pursuant to Part I of the Landscape Budget for the
installation of the Landscaping and Irrigation. On or before
July 1, 1987, City shall cause the District to prepare and
deliver to each of the Lenders a final accounting of all
District funds received and expended for the formation of the
District and the operation of the District for the first eight
months. Any District funds not utilized for the installation
of Landscaping and Irrigation (less reserves for Firebreak
Lots) or the formation of the District and the operation of
the District for the first eight months as shown in said
accountings shall be refunded to the Lenders concurrently with
delivery of said accountings in proportion to the Lenders'
original contributions to the District funds as set forth in
Section 2.2 above.
2.4 Upon completion of the formation of the District
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as set forth above and the payment by the Lenders of the
initial District funds for the formation of the District and
initial operation of the District, (a) the Lenders, and each
of them, shall have no further financial responsibility or
obligation with respect to the installation of the Landscaping
or Irrigation systems and, (b) except to the extent that the
residential lots owned by the Lenders within the District
shall be liable for District assessments for the ongoing
maintenance of the Landscaping and Irrigation, the Lenders,
and each of them, shall have no further financial responsi-
bility or liability with respect to the maintenance of the
Landscaping or Irrigation.
ARTICLE III. CAPISTRANO ROYALE HOMEOWNERS
ASSOCIATION.
3.1 Bank currently holds record title to 23 of the
28 units comprising the Association and holds 3 of the 5
positions on the board of directors of the Asscociation.
Bank, in cooperation with the Association, shall cause the
common area Recreation Center to be completed, repaired,
rehabilitated and furnished in accordance with the Recreation
Center Budget set forth in Exhibit B attached hereto and
incorporated herein by this reference. AmFed shall contribute
7/31 to a maximum of $11,595 and Security shall contribute
1/31 to a maximum of $1,657 of the actual, out-of-pocket costs
incurred by Bank in completing, repairing, refurbishing and
furnishing the Recreation Center. Concurrently with the
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execution of this Agreement, AmFed shall deposit the sum of
$11,595 and Security shall deposit $1,657 into an escrow
account at a financial institution mutually acceptable to
Bank, AmFed and Security to be disbursed to Bank as con-
struction progresses pursuant to an escrow agreement among
Bank, AmFed, and Security and such escrow holder. Bank shall
cause such construction to be completed not later than July 1,
1986 and any funds deposited by AmFed and Security and not
disbursed for construction purposes shall be returned to AmFed
and Security not later than July 1, 1986. Bank shall arrange
for AmFed, Security or their authorized agents and contractors
to have access to the Recreation Center during normal business
hours for the purpose of inspection of the Recreation Center
and all work performed thereon and for obtaining bids for such work.
3.2 Record title to certain common area lots (the
"Goeden Lots") currently stands in the name of Goeden or an
affiliated person or entity. The Lenders shall use their best
efforts to negotiate with Goeden, such affiliated persons or
entities, and the trustee in bankruptcy of Goeden, for the
immediate conveyance of the Goeden Lots to the Association.
This provision shall not obligate any party hereto to commence
or intervene in any legal action or to make any payment or
give any other consideration for such conveyance. District
shall provide up to $2,500 from District contingency funds to
pay the fees and costs of the firm of Stroock & Stroock &
Lavan incurred in bringing a motion in the bankruptcy court to
cause or facilitate such conveyance.
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3.3 The deadline dates for the District to commence
and to complete the installation of the Landscaping and the
Irrigation on the Goeden Lots may be extended by the District
for so long as (a) record title to any Goeden Lot remains in
Goeden and (b) City or the District reasonably determines that
to proceed with installation of the Landscaping and Irrigation
on the Goeden Lots may expose City or the District to legal
liability.
3.4 a. Bank shall use its best efforts to cause
the Association to do whichever of the following as a majority
in interest of the Lenders shall agree is most beneficial: (i)
assign to the Lenders its cause of action under the Bond for
Completion of Common Facilities, Bond No. 103829 dated
November 18, 1981, and/or such other bond for completion of
common facilities as may have been executed by The Goeden
Company in connection with the issuance to it of a final
subdivision public report, or (ii) agree to prosecute an
action to collect on the foregoing bond(s) in the
Association's name with legal expenses to be borne and funded
by the Lenders as set forth below.
b. No Lender shall be obligated to participate
in the prosecution of any action on any such bond or in the
legal expenses incurred by the Association. Any one or more
of the Lenders may, at their sole option but in cooperation
with one another, prosecute or cause the Association to
prosecute such an action and each such prosecuting Lender
shall bear the legal expenses thereof in the same proportion
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as the number of lots owned as of the date hereof by such
prosecuting Lender bears the total number of lots owned by all
such prosecuting Lenders as of the date hereof. In the event
that fewer than all the Lenders prosecute such action and bear
such expenses, any recovery from such action shall first be
applied to reimburse the actual legal expenses paid by such
prosecuting Lender or Lenders plus interest on the amount of
such reimbursed expenses at twelve percent (128) per annum
plus a bonus equal to twenty percent (208) of the aggregate of
such reimbursed expenses. The balance, or in the event that
all Lenders participate in such prosecution, the entire
recovery, shall be divided among all the Lenders in the same
proportion as their respective contributions to the costs of
the formation and initial operation of the District pursuant
to Section 2.2. In the event that such recovery is
insufficient to fully reimburse the prosecuting Lenders for
their reimburseable expenses plus interest and bonus, the
prosecuting Lenders shall be reimbursed out of such recovery
in proportion to their contributions to such reimburseable
expenses.
C. In the event that the Association has not
approved the assignment or prosecution of the cause of action
as set forth in paragraph (a), above, on or before June 28,
1985, this Agreement shall be null and void ab initio, any
District funds contributed by any Lender pursuant to Section
2.2 shall be forthwith refunded to such Lender and no party
hereto shall have any further rights or obligations whatsoever
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hereunder.
3.5 ASL, Security and AmFed agree to cooperate with
Bank and the Association in approving and executing any amendments
to the Declaration or the Articles of Incorporation or Bylaws of
the Association which are made necessary by the formation of the
District and City, ASL, Security and AmFed agree to cooperate with
Bank and the Association in obtaining the approval of the
Department of Real Estate to any such amendments.
ARTICLE IV. CERTIFICATES OF OCCUPANCY.
4.1 The residential lots within the Subdivision
currently owned by Bank and AMFed have been improved with
single family residences for which Bank and AmFed have applied
to City for certificates of occupancy. Concurrently with or
prior to payment by Bank and AMFed of their proportionate
shares of the District funds pursuant to Section 2.2, City
agrees to deliver to Bank and AmFed either (1) final certifi-
cates of occupancy for each residence within the Subdivision
which qualifies for a certificate of occupancy under the City
building code, or (2) a complete and final itemized listing
("Punch List") of all items of construction to be completed
and all fees to be paid which City or any department or agency
of City may require for the issuance of certificates of
occupancy for such residences under the City building code.
Such Punch List shall include only requirements under the City
building code and shall not include any items purporting to be
required under any other applicable laws, ordinances, and
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regulations including but not limited to zoning laws, the Sub-
division Map Act or the Subdivided Lands Act. Upon request of
Bank or AmFed for an inspection of any such residence, City
shall cause a building inspector to commence such inspection
within two (2) business days of such request and to diligently
complete such inspection within ten (10) business days. City
agrees that, upon completion of all items set forth in the
Punch List in accordance with the City building code,
certificates of occupancy will be issued for such residences
within two (2) business days.
4.2 City recognizes and agrees that time is of the
essence in the issuance of such certificates of occupancy.
City agrees to use its best efforts to expedite the procedures
for inspection of the residences and issuance of the certifi-
cates of occupancy and City agrees that it will not unreason-
ably withhold issuance of a certificate of occupancy for any
residence.
ARTICLE V. MUTUAL SPECIAL RELEASES.
5.1 Prior to the execution of this Agreement, one or
more of the Lenders have alleged certain legal rights against
City relating to City's refusal to issue certificates of
occupancy for homes presently constructed within the Sub-
division. City and the Lenders may also allege certain other
legal rights or causes of action against one another arising
from or related to the Subdivision. In consideration of the
mutual covenants and agreements herein contained, and except
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for the exclusions expressly set forth in Sections 5.2 and
5.3, below, City, ASL, Bank, AmFed and Security each hereby
release, acquit, and discharge one another and all of each
other's past, present, and future directors, employees,
agents, partners, joint venturers, affiliates, representa-
tives, attorneys, subsidiaries (expressly including Western
Home Mortgage Corporation), parent and affiliated corpora-
tions, successors, and assigns, and each of them (hereinafter
collectively, "the respective related persons") of and from
any and all Claims as hereinafter defined. As used herein,
the term "Claims" means any and all alleged claims, defenses,
causes of action, costs (including attorney's fees and
expenses), or demands, whether known or unknown, and whether
anticipated or unanticipated, which the parties hereto have,
or may now claim to have, or may hereafter claim to have,
against each other or against any of the respective related
persons, by reason of any act or omission on the part of
either of the parties hereto, or on the part of any of the
respective related persons, occurring prior to the date of
this Agreement, which alleged claims, defenses, causes of
action, costs, or demands are embodied in, may arise out of,
or are in any way connected with, any fact, matter, or issue
pertaining to the Subdivision, including, without limitation
(a) any and all rights the Lenders, or any of them, may have
against City with regard to alleged damages arising out of
City's refusal to issue Certificates of Occupancy prior to the
execution of this Agreement, (b) any and all rights which the
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Lenders, or any of them, may have for damages allegedly
arising from City's acceptance of any surety bond or other
form of security agreement or document City has accepted in
connection with any permit, zoning approval or subdivision map
approval for any of the tracts involved in the Subdivision, or
(c) any claim or cause of action which City may have against
Western Home Mortgage Corporation under that certain purported
set aside letter dated August 17, 1982.
5.2 The foregoing Mutual Special Releases are not
intended to, and shall not, release or affect any Claim
(arising out of or related to the sale to AmFed of loans
secured by residential lots and improvements thereon in the
Subdivision) by AmFed and/or its successors and assigns
against Security, WHMC, Mary Morehead Associates and/or any
other person or entity not specified in Section 5.1 or any
Claim by Security Federal Savings or WHMC against AmFed, Mary
Morehead Associates or any other person or entity not specified in
Section 5.1 arising under or related to that certain Whole Loan
Sale and Servicing Agreement dated June 14, 1982, and/or the
submission package and/or related documents, and written, oral or
implied representations and warranties relating to said sale.
This Section 5.2 does not constitute, and shall not be construed
to constitute or evidence, an admission by AmFed, Security, WHMC
or Mary Morehead Associates of any wrongdoing or liability
whatsoever, nor an admission that there exist any such Claims or
any Claims whatsoever against any of them. This Section 5.2 is
not intended as a limitation upon the Mutual Special Releases
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in favor of City, ASL or Bank set forth in Section 5.1. In
the event of any litigation or dispute arising out of the
events described in this Section 5.2, AmFed, Security and WHMC
each agree that, subject to Section 5.3, City, ASL or Bank
shall not be made a party to such litigation or dispute.
Security and WHMC represent and warrant to ASL that, to the
best knowledge, information and belief of each and all of the
present officers of Security and WHMC, neither ASL nor State
Savings and Loan Association were parties to or had any
involvement in the origination or sale to AmFed of the loans
to Grove Properties, Inc. secured by deeds of trust on lots 3
through 9, inclusive, Tract 11094 which loans were sold by
Security to AmFed.
5.3 The Mutual Special Releases set forth above
shall be effective as of the date of this Agreement and shall
not apply to any Claim arising under this Agreement.
5.4 The execution and delivery of the foregoing
Mutual Special Releases by the parties hereto shall not
constitute, or be construed to constitute or evidence, an
admission of any liability or wrongdoing on the part of any
party. The parties hereto, and each of them, warrant and
represent that none of the Claims herein released has been
assigned to any person or entity prior to the effective date
of this Agreement.
ARTICLE VI. MISCELLANEOUS.
6.1 This Agreement shall be binding upon and shall
inure to the benefit of the parties hereto and their res -
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pective successors and assigns; provided, however, that this
Agreement shall not burden or run with any of the residential
lots in the Subdivision and shall not be binding upon any
successor in title to any of the residential lots in the
Subdivision unless such successor in title has expressly
assumed the obligations hereof in writing.
6.2 Time is of the essence as to each time require-
ment set forth in this Agreement.
6.3 This Agreement constitutes the entire under-
standing between the parties with respect to the subject
matter herein and this Agreement may not be changed except by
writing and executed by all of the parties hereto.
6.4 The obligations of ASL, Bank, AmFed and Security
hereunder are several and none of them are joint obliga-
tions. The obligations of the Lenders to fund their propor-
tionate shares of the District Funds shall terminate upon the
payment thereof. The obligation of AmFed to fund its share of
the Recreation Center Budget shall terminate upon the deposit
thereof into escrow. The obligation of Bank to complete the
construction and furnishing of the Recreation Center shall
terminate upon completion thereof and the issuance of a final
certificate of occupancy for the Recreation Center. Except as
otherwise provided in this Section 6.4, the obligations of
ASL, Bank, AmFed and Security hereunder shall terminate upon
the earlier of (i) the full and complete performance thereof
or (ii) July 1, 1986.
6.5 Each individual executing this Agreement on
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behalf of a party represents and warrants that he or she has
full power and authority to execute this Agreement on behalf
of such party pursuant to such party's bylaws or a resolution
of its board of directors or, in the case of the individual
executing this Agreement on behalf of City, pursuant to a
motion of the City Council of City as reflected by a minute
order certified by the City Clerk.
CITY OF SAN JUAN CAPISTRANO
(City)
By
Ti e: Mavor
APPROVED AS TO FORM:
Attorney
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BANK OF AMERICA (Bank)
By:
Title:
AMERICAN SAVINGS & LOAN ASSOCIATION
(ASL)
By:
Title: Zxlee- PRC's�ocwT
AMERICAN FEDERAL SAVINGS AND LOAN
ASSOCIATION (AmFed)
Byia25&
.
,
SECURITX4EDERAL SAVINGS AND
LO1?il�17qIATyQN (Security)
T�G'.By°Title
WESTERN HOME MORTGAGE
CORPORATION (TIMC
By:
Ti —
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EXHIBIT A
LANDSCAPE BUDGET
I. Landscape Improvement Costs
Landscape improvements
Trees, shrubs, hydroseed, clean-up
and restoration
Irrigation Improvements
Installation of irrigation lines,
sprinkler heads and automatic
controllers
SUB -TOTAL
City Administrative Services
(10 percent of sub -total)
Contingency Fund
(25 percent of sub -total)
PART I TOTAL
II. Langsca a Maintenance District
(Costo Formation and Operations)
District Formation
Maintenance and Operation
(Excluding landscape installation and
restoration). Based upon eight months
at $12,500/month
Contingency Deposit
PART II TOTAL
GRAND TOTAL
EXHIBIT A
$ 81,500
102,000
$183,500
18,350
45,875
24$ 7,725
$ 3,000
100,000
40,000
143,000
$390,725
I
n
U
Item
0
EXHIBIT B
RECREATION CENTER BUDGET
Pave Parking Lot
Stripe Parking Lot
Ground and Security Lights
Tennis Court
Volleyball Court
Recreation Equiment
Repair Pool and Spas
Clean and Repair V -Ditch
TOTAL
EXHIBIT B
$10,000
4,100
9,840
2,460
2,900
3,500
18,000
550
$51,350