HomeMy WebLinkAbout1983/01/19 - Agenda Packet - (2)RA14CHO CUCAMONGA
i Redevelopment Agency
Fr,
vans Park it, Cantor
916' Base se Wh LLte Road
Rsn": Cucamonga, Califlrnia
January 19, 1983
AGENDA
1. CALL TO ORDER 7:U%
A. Roll Call Dahl , Duque,; X. Proat x ,
SchlosaerQ, MSkelaZf ,
B. Approval of Minutes: Ducemter 6, 1982 December
15, 1982 and January 51 1983,
2. STAFF REP03TS
A. APPROVAL OF IROGRAM DgP(WT AGREENEM CH MORTOAGB& T
ROU=I BOND PROGRAM. Staff report bf Tim Deedle,
Som.or Planner.
Tho program deposit agreement between th j
participating developer and the RDA are agreements
with devolopers in the Redevelopment Agency area to
do partioipat+ in the Mortgage Bond Program.
Reeoauudations It is recommended that ne Resolution
be approved authorizing execution of prngram depouit
agreement on behalf of the Redevelopment Agency.
RESOLUTION NO. RA83 -1
A RESOLUTIL;v OF THE REDEVELOPMENT AGENCY OF
THE CITY OF RANCHO CUCAMONGA, CALIFORNIA,
AUTHORIZING EXECUTION OF THE PROGRAM
DEPOSIT AGREENEffr AND PROVIDIr.0 OTHER
MATTERS RELATING TO T-1E RANCHO CUCAMONGA
REDEVELOPMENT AOEHCY.
B. APPROVAL OP AGREEMENT FOR ZW,T E1'.RTWG Wffr P3- An
agr'a. for traffic engineer, p,ellminar/ design,
and right -of -way needs d -ltermination for the Route
15/66 Interchange (Foothill Blvd. /Davora Fromay).
Poems A Associates of Ontario agrees to perform the
work for a fee of $20,400.00.
Recommerdation: It Ss recommended that the agroemeato
for engineering services be approved and that the
Agency outhorixe execution by the Chairman.
3. ADJOORA1GOff
ritC'�1�o1... :. ri •�A.}v
2°
27'
5 `t
5 `t
E
Decaebor 6, 1965
CM or Ulm t'OCJWXU
B =EL0J1D3r A== 1(1BpfLT
1. T. 10 "m
J Ypsolal eotY.bW Mhos too the Aedorelopret Aamw vs told id toe Llddo
h1 Cosmlq Gdrur do ttmh). Woe 6. 1961. Tao wt" ess ul:ed to
order at IM PA. P.• malrrt. Joe D. Mltel..
tPr-srat more: Apra -r Hobe- m,rlos J. ferret II, PWIU, D. Jchlorers
Jssto IC -frost. JOd ChUrevr Jan D. !prole.
'Al. J)raamt .wret Laeeotln Dirsotor. gorse Jt. W Irrc; r -itd
.Ae- IUJSrt J11rod[dr. Jadt 1"; City Pl000tr. Ma Dora; aad :actor Plainer.
'ils.6sedlo.
Ab.mt; at®al tfox�r {LO"fo M. DW.
3. 'IMrRown0ef��
qtr. Ys.soeuO vrtrtaerd tr Puryoas of the ewtlMe e a ne N t'r'o-10. tPa
'P-dewla+mmt Aloof se ace tow mwCllo .Std son lofdreotion amcoroloB
:tow ,prep•• di Mprtpp ft.. load Psiroo. Mr, dssaervO Sot of rM
- faliostol wa6sro of t!r city.. amrltlOp tact
.JussPh JaOeft, fwlDtlitf coo otlr t for bplre Zedg.ew.•
lmtt Pallor., bmwd twdorerltsro fro ltd od .od fineop"
.lndf Btll, bddd eauwl from tow loe flee of Jta., Do", Ball 6 IWW
71111 rio,l , notoOlal doo ateot fro, Pisiie.d 6 middp
�. tROffty Or FPM W1 pIlP1RO;RIC.[
'Proem4tlms reprdic, tow sortlep roream hoed preAYa were odo by tba
rfollgirl;
Scott obllers, Star 6 Iouodoors, dtodu olillbllltf roduLemet.,
9 rtldlpaats is fluacla6 tlwo prtgros. federal sod s4to r+lule[fov, and tM
Joe Ittdm p ..
.lodf Wll, Jan-, Ball, WIl t wits, diameaod the role or brad ceomsol
awal the 1fyJ os odts a W fleYwmt W aortl s rsroma boad prgtrr as it
ml.w m rod eldpormt a6.s•r•s le rlllforale.
Joseph Jtdeft, hplro Doaaoles, dlaoctsad L10 factors csed U dote Wdl
r1toM ntLW, tDe tlptacial frsalbllltf .Lure. NMcb W t Jrod prior to
.tCe sale 'Lod to u of .11 ,I e',. boots.
Bill Yioldo-o, P1oL1wd 6 AOL p . 41."ed lba role of the flatooisl
ewoMtoOt to rorlrlw too, 'Plow fadets of tom oortl.6e ye r bond
.9ryir" 1d Order t0 ProtCrt tb. ]et {root Of tae Clty Or BCa0e0 r"^•m'ap and
Sts Yd4rdiPp,ret 1(0001.
l�
4 yADOAAM SCMPDVLB v
DAT: Amiss 11L1CJM]1BLe rtetr
11 -17 -02 Leteln U d.rarlter no Pond
00+ .l... .... .. ...... .A6aml Bosh
II -16-82 1U."low temoola f.aelbillty
Conaulum. .rune Tom
tr.yla Wry De'.I-w-s ".OtIAS..... . /lwu. Tau
11 -19-82 4eomoa aaeatlm of rasslbility
Conoltaat.... ...... .. AA.ray SWT
11 -2442 Distribute Dewleper's
Oueetioamila . ... ...... ...has cemUltsat
11 -21 -32 Distribute Draft vo sloptr'e
IAratsnt... •.. .. • .. ..Bond Comm)
12 -6 -32 Seaoad Cevloper'a 1Motlnt ..... .. .. . Ilo.oee Ten
"It.. Dsy.loxr fer.aaent ..... .........Boyd C�al
Bent. 0.selopr Ou..tit lye. .. .tees. Ccnsulttdt
Diacus.1loa.ilan prxadu .. .Wdarariter
LValuaie alterAtte floanctoB r.Dlol.a... ..D.r.lrp•rs
Identi'2 pref.rraa lender.. .W,W.per.
AAemy Irortsbp . ... ...... .. .... .Ae., Board
Beteld rats. Con.ultaat...... ..... .Ar'my Board
Oleeuts Pr.Was paranaUrs. .. .. %lnanv. Tem
12 -20-02 uecut. rrollcina7 De.elaper AAremant.. ....BOW Cowve:
Callmt 1 /IS B.een'atloo y.s.. .. ...AAtmr Bt.ff
Raft Feasibility Study.. ... .. .has. Caawlteat
Inft Le lsodle6 DrwlrsrLta. ••.• ..Brnd Counul
1243 -82 Distribute Study A bOdln6 p unante....y Cmuult /B Cwtuel
1 -5.83 AOprovl or ym6rts Deposit AAreernt... ... .Ag.ad' Board
1 -1043 0.0ments hr1.0 34ssloo
retslblllty Study l C LSam Contract .Mrelopers
W. A 3enlalas Daaua oms. . ...... .Lams.
1 -10 -83 Olatribute Offlalal 3tat.oem ....... . ... ..0 erarlter
1.21 -83 Moelre Alloutloa.... .. .. ......State
2.2 -03 I tlnB .1tA A6cmr to Discuat Pratras ... ..... 7LUme Tea
Alloo.tim frxaduns
Poaalblllty Study
cdoaltaant Cantmot
2 -A -83 Standard A Poor'a Sit. Tlslt .... .. ..rimne. Tea
2 -3-63 hrlse A Di trlbut. hd.Lblllty Study A
Official Stattaebt. .P. Cadrvlttvc /UWer.rlter
2 -18.83 Meet. Wind. .... .]tuWt" A Poor'.
2 -21 -83 Dlstribat. Official Ststaa.nt........ ... .UUlervrlter
2 -78 -83 Prle. Band.... ... ... .... thd.rarlter
3 -2 -83 D..sete hrebaa. f tract -Anal ASCe. ... ..... AAmoy Bond
3 -1143 Ce11vr rrxaed.. .... .... .VM.rurLwr /B. Couos.l
n
1�
•
.. ADJOUAIr¢
Lbtlom Hov.d by S.Dlo.a.r. second" by buaurt to adjourn. Motion card*!
urunliou+li 44-1 (Dial ab3"t) V. n.tW tnJowrnve at D145 D...
ANplot Nlll soNltgG.
Lowe. M. to u.rnn
City dart
u
t:
J — ?t
Y • December '5, 1982
CITY OF RANCHO CUCAMONGA
REDEVELOPMENT AGENCY MINUISS
1. CALL TO ORDER
A meeting of the Rudevelopment Agency of the City of Rancho Cucamonga met in
the Lions Park Community Center, 9181 Base Line Road, on Wednesday,
December 15, 1982. The meeting was called to order by Chairman Jon D. Mikels
at 7:03 p.m.
Present were: Agency members, Richard M. Dahl, Charles J. Buquet II, Phillip
D. Schlosser, James C. Frost, and Chairman Jon D. Mlkela.
Also present were: Executive Director, Lauren M. Wasccrman; Legal Counsel,
Francis Baum; Community Developawnt Director, Jack Lam; City Engineer, Lloyd
Hubbs; and Senior Planner, Tim Beadle.
Approval of Minutes Motion: Moved by Schlosser, seconded by Dahl to approve
the minutes of October 20, 1982, November 17, 1982, and December 1, 1992.
Potion csrrled unanimously 5 -0.
. 2. STAFF REPORTS
A. AGREE21ENT TO FUND DAY CREEE BUREAU OF RECLAMATION GRANT APPLICATION.
Staff report by Lloyd Hubba.
Originally funds were to be drawn from storm drain fees but with tLa formation
of the Redevelopment Agency and the large committment of funds it was more
appropriate for fundo to coma from the Redevelopment Agency.
An additional item related to this agreement, it would be cost effective that
while environmental document for Day Creek portion included in this agreemont
to also expand to cover environmental work required for San Savalne- Etiwanda
Channel in order to adopt full master plan it Is required that an EIR be
completed for the total project. City of Fontana approved the concept of
coming up with an additional $15,000 for a full EIR; each of the cities
Involved to fund $2500 each and San Bernardino $7500. Mr. Rubbs requested
amendment to approval of this agreement to authorize request for additional
$2500 to cover the EIR on the total project. Draft of total plan should be
received within the next month, and adoption of the plan within the next three
or four months.
Mr. Mikels asked for clarification bet:reen an EIS and an EIR. Mr. Hubba
explained an EIS Sr completed to meet regulations of the federal government
and Environmental Protection Agency's Bureau of Reclamation. The EIR meets
State of California environmental requirements.
Mr. Mikels opened the mating for public discussion. There being none, the
public discussion portion of the meeting was closed.
Hr. Frost asked If It were practical on an annual basis to determine the
entire oacps of cork for flood control district. Mr. Frost suggested 11 it
were not done piecemeal perhaps money Could be saved. Also could a
negotiation method be discussed with the flood control district next year.
Hr. Hubbs stated on this project there did not seem to be additional work. If
there were to be a now project perhaps we could look at different methods.
Hr. Front stated that by doing It piecemeal makes it impossible for anyone
else to compete. Mr. Hubbs stated prices are Competitive on this project.
Hr. Baum suggested approval be subject to legal counsel review of the
agreement and return to Redevelopment Agency for final approval.
Mr. Hubbs stated since it Is a three -party agreement, with Rancho Cucamonga,
Ontario, and Fontana, it would not be in effect until all parties approved the
agreement.
Hr. Schlosser stated it seemed like alot of money to be expanding on a project
that had been studied in depth already. Px. Hubbs stated this was not a
study, but a formal grant application and state law requires various studies
be completed. Hr. Schlosser felt that it should got out to bid. Hr.
Waaae:man stated we are hiring expertieo of consultants and do not usually go
out for bid.
Mr. Mikels stated money spent on this Stem Is to prepare for the gent
application which would bring in additional =nice from the Bureau of
Reolamation aeant and would reduce city cost. He felt additional cost would
be incurred if the project went out to bid.
Hr. Buquet asked why an EIR was not dnne originally. Mr. Hubbs explained the
EIR would be on the total pro;d0t, i.t., Day, Etiwanda, and San Sevalno
Project whereas the grant would be striotl., with Day Creek Project. If Day
Crack grant application was not done, there would be a need for a $40,000 EIR
In order to adopt the Maater Plan for Day, Etlwanda, and San Sevaine. In
reply to a question by Hr. Buquet, Mr, Hubba stated it was not a supplemental
F.IR, but coverb the total plan and would be used as a base.
Mr. Lam added that if an FUR was done separately later it would cost more.
Notion: Moved by Schlosser, seconded by Buquet to approve loan request fur
$17,500 from Rancho Cucamonga Drainage Fee fund contingent on review by legal
counsel for approval as to form. Motion carried unanimously 5 -0.
3. ADJOURNMENT Motion: Moved by Dahl, seconded by Frost to adjourn. Motion
carried unanimously 5 -0. The mooting adjourned at 7:21 p.m.
Respectfully submittad,
Mary Kuhn
Acting Assistant Secretary
• Jan"" 3, 1933
CITT Of g4MCNO CUCAHOWA
BEDCICWPM{NT Macy MINUTE{
1 fcAth TO OaOE_s. L mestln{ of 0. Psnrvalapr.nt Agency of the City of
Ramon C,u,,mm s as Lt the Lion, Par¢ Community Center, 9161 Ease Line anent
0c Wdwbday, Janw T S. 1933. no meeting -a Mllmd I. order at TIOZ p.a.
by C,ai m n, Job D. ItlweL.
pro"Ot ware D. gehlwaer, James C. Prootfr am Piebald M-
base J. rD.pMibe..J gucueL IIr Pn1311D
1140 Dnaent wral trenutly. Clreotorr peen M. WankermeOi Legal Couns•1.
IMO {romt Camunity novellplant Dlreotorr Jaei W1 mad 3e4lor PLnnerr TM
1\90'1
t. SYA" PEMRT3
21. UPDATE Ow W50409 W" ?'WPM. Tfa btdle p,",led an pvanLV of the
.Let. of the q tcagm good Program. In Partl"l.r G presented Me
arnpgaXont Wing meal with participating der.10fan
Chairmen Mit•b 0"4.4 art retinj far public ob.mmn0. "dressing Council
nn
•hiph Lewis. Lewis Hoes, staled that It was Wt poa•iNm for them
In Nre an apprm,., tentative until Me Ten, list Plan n,
approved. The underwrlbra hers . policy of oat .,M, a {and retina
if • de1e14Der oan -t how. an p,rovd tant.tivm. No felt if the
Terra Vista Plan vu apMroved. it should W as good as as approved
tentative.
IF. Lam state tot if the froiect doesn't Nee sppr0r.1, than there le a guod
clone, Met I" Aetdn, 4•nOY will not Bill we am Eood a rating on an' fit Lewis
thlys sae firm can W1 ry Pertticelpant, Men rtewis aoMomom tcoulda bwome on
alten.to em If Nan ara bond funds "job are not utilized by the PrlemrY
Partlelpant, ten Lost* Mow, Oar tats over Wee bond NJ'••de, the
I1.. ra".. It lb. 1to4Y to W got statement that
huele HOmw3 does {ulinar4anoy s
dmraietiOn Of a rating for Our last'*'
Mr. L" state Met Levi. ed three optl ... ... liable:
1. vat to participate at ell.
9. W in one program As an oltmrmmLe with an arranasseot with a prime"
ysrtlolp.nt.
3. 0,' they amuld still h In ins program as an altarmmla in t..t cant
bring" p.vtiaiD.nt obuld not Parton In the future-
@A r.pnsentatlm from lowim Company asked CDunofl if the Mello-
far the information was .DnuluUly r•wl"d by Prid•y. Would Hardly
still he oil right.
Itt tt ee s a ffe t give Wf il
,m,"tent Noe ill b ma,miM, le feasibility repar— He food. the
1nfbM1.atlbn a to the nwcor of units elan will oe part of this ."lobos'
rc0uut .111h "to. to is In by Friday. The .6reesente will as uorb.d wt the
follavlrµ .era.
Dr1
Myor Mllsla stelae that thl. type Of problue scald be uorke, cut with staff,
WA mt dutlry tM MariM.
Motive, Mowed by Dahl, s.amAed by pu9wt to allow the tow .ppre.abas row
Levi. florae, (1) to N, ticlpate eiM • Frldery parttalpent, and (2) to be
Wk up L awant Of half of a participant. Motion Fouled me iabuly 5-0.
22, !ff! DFlmrr NGR alM1L WORT FOX F13M rria t981.82. Report
prydeatet by Tie haad:a.
fhalrsan Mleals opened Ina setts{ for While omarot. Then caLg mde, t,a
public prom of the mat1K cas alosd.
Police, How" by Schloaear, NOmdad by Float to renalt0 tee lmuni lrprt
and W direct Staff to Mad Copies Of the Annual Uport to the Clumtr ddttar-
cntryllarfa Cffic. and the Califarela state rontraii r,s arric. as nwired
by California law. Motion earrl.d unanimously 54.
Mr. W atat.d that the Terra Via" FLn W aces 1n. Copies v111 W
distributed on Friday.
3. AW MlddIJfr. Wticn, Moved by table seconded by.3ehlowr to aaloure.
Milan carried unanimously 5-0. Tbs gadawolopment fguncy dealing adJourrod at
7,2! p...
Asapeotrully wbnitted,
Dauarly 4teaat
Assistant Soo""
'i
✓S
1
N
,
CITY OF RANCHO CUCAbIONGA
STAFF REPORT
r
G.
DATE January 19, 1933
TO: Members of the Redevelopment Agency
FROM: Jack Lam, Deputy Executive Director
BY: Tim J. Beedle, Senior rlanner
SUBJECT: FPPROVAL OF PROGRAM DEPOSIT AGREEMENTS
c"'
Program deposit agreements have been completed by the participating
developers and are now ready to be approved by Lhr Redevelopment
Ag_ncy The purpose of the progra• deposit agreement is to specify the
developer's request to participa'.e io the bond issue and to verify the
amount of bond request. A ..opy of the final deposit agreement and
supportive docwent is attached. The program deposit agreement has been
modified to reflect comments from participating developers. These
changes are underscored. In brief, the program deposit agreement
provides the following:
1. Verifies that tht developer meets the federal and state legal
requirements.
2 The developer has deposited one -half of one percent of the
requested mortgage amount with the Redevelopment Agency in
either cash or letter of credit received by January 11, 1983.
J. Provides, ac required by state law, that the deposited mnount
will be for'eited by the develooer and will be used by the City
for housing for low and moderate income households in the case
of a failure to sell bonds or failure of the developer to
participate in the bond program.
4 Approval of this program ag.,e.ment with the Agency does not
obligate the Agency or the City to approve any other matters
relating to the developer
5. if no allocation is granted to the City by October 1, 1983, the
deposit will be returned, less any program cost to the
participating developer (thus e,rectively removing our request
before the State Bond Allocation Committee).
0
I
I
RESOLUTION NO. RA83 -01
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, AUTHORIZING EXECUTION OF
THE PROGRAM DEPOSIT AGREEMENT AND PROVIDING OTHER MATTERS
RELATING TO THE RANCHO CUCAMONGA REDEVELOPMENY AGENCY
The Members of the Rancho Cucamonga Redevelopment Agency, Rancho
Cucamonga, California, has resolved as follows:
WHEREAS, the legislature of the State of California has, pursuant to
Chapter 8 (commencing with Secticn 33%50) of Part 1 of Division 24 of the
California Health and Safety Cade (the "Act "). authorized redevelopment
agc,i ^ies to purchase longterm low - interest rate loans to finance new
res dential construction to redevelopment project areas In order, to encourage
invostmrnt within and to upgrade such areas and has authorized such agencies
to issue revenue bonds to finance the airchase of such loans; and
WHEREAS, pursuant to the Act, the Rancho Cucamonga Redevelopment
Agency (the "Agency ") proposes to undertake a Mortgage Loan Financing Program
(the Program ") to purchase loans (the "Mortgage Loans ") made to finance new
single - family owner- occupied residential units (the "Residences ") to be
constructed within its Rancho Redevelopment Project Area (the "Project Area")
and to issue Residential Mortgage Revenue Bond (the "Bonds ") to finance the
purchase of the Mortgage Loans; and
WHEREAS, to obtain an allocation to issue the Bonds within the
federally imposed limit upon the Issuance of mortgage subsidy bonds, the City
of Rancho Cucamonga on August 31, 1982, filed, pursuant to the Costa -Marks
Housing Bond Allocation Act of 1981, as amended (the "Cotta -Marks Act "). a
notice of sale of 566,000,000 prinlcpal amount of the Bonds with the State
Mortgage Bond Allocation Committee, which allocation is now pending before the
Committee; and
WHEREAS, in order for the City of Rancho to maintain Its position on
the listing for allocations in 1983, the Mortgage Bond Allocation Committee
requires, among other things, that the City cause evidence of the deposit of
an amount of money or, in lieu thereof, of a letter of credit, securing such
amount, which amount shall be subject to forfeiture and application by the
City to assist housing for Persons of low and moderate income within the City
upon the failure to sell any or only a portion of the Bonds; and
WHEREAS, a developer within the Project Area desires to provide the
deposit required to be made in order for the City to maintain its position on
the listing for allocations in 1963, such deposit to be subject to the tens
and conditions described in the Program Deposit Agreement in form presented to
and reviewed by the members of the Agency with the said of its staff
J
u�
Resolution llo. RA83 -01
Page 2
ROW. THEREFORE, IT IS HEREBY FOUND, DETERHIRED and ORDERED that the
Program Deposit Agreement In fora presented at this meeting is hereby approved
fur execution and the Chairman of the Agency is hereby authorized and directed
t execute .he Program Deposit Agreement an behalf of the Agency with the
d,:veloper desiring to participate in the Agency's Program on the terms and
unditions therein provided.
PASSED. APPROVED, and ADOPTEn this 19th day of 3anuary, 1983.
AYES:
HOES:
ASSERT:
on a s, a rman
ATTEST:
t
Lauren H. Wasser=m, .secretary
V;
r
a
K
t
A
W
1.}
♦Y
0
JnnW:ALH:ea 11123182
:ea 1.,f30/82
:ea 12/04/82
:oa 12/08/82
:ea 12/16/82
:ea 12118182
RANCHO CUCAMONGA REDEVELO"MENT AGENCY
RESIDER }IAL MORTGAGE REVENUE BONDS
PROGRAM DEPOSIT AGREEMENT
This a Program u.•posit Agreement (the "Agreement ") entered Into this
Y December, 1982, by and between the Rancho Cucamon a
A-9- ency t dhe "Agency ") and n 9 Redevelopment
(the Developer "):
WI TN_ ESSETH:
WHEREAS, the legislature of the State of California has, pursuant to Chapter
8 (commencing with Section 33750) of part 1 of Division 24 of the California Health
interest ntl Safety Code, authorized redevelopment agencies to purchase long -term low -
project areas e in order to encourage nlnvestmen Investment construction In redevelopment
has authorized such agencies to issue revenue bonds to financupgrade he Purchase rofssuch
loans; and
• WHEREAS, the Agency proposes to undertake a Mortgage Loan Financing Program
(the "Program ") to purchase 1 -fans (the "Mortgage oans ") made to finance new
single - family owner- occupled residential units (the "Residences ") to be
constructed within its Rancho Redevelopment Project Area (the "project Area ") and
to Issue Residential Mortgage Revenue Bonds (the
of the Mortgage Loans; "Bonds ") to finance the purchase
Project Area ands the Developer to thp process and market Of
new subdividing land
esihln the
provide finds to and Purchase Mortgage reserve
Loans madeswith proceeds ofythe Bonds Ito
WHEREAS, in order to obtain an allocation to issue the Bonds within the
federally Imposed limit upon the issuancc of Mortgage subsidy bonds, the City of
Rancho Cucamonga ithe "City ") on August 31, 1902, filed, pursuant to the Costa -
Marks Housing Bond Allocation Amt of 1981, as amended (the "Costa -Marks Act "), a
notice of sale of $66,000,000 principal amount of the Bonds with the State Mortgage
Bond Allocation Committee, which allocation Is now pending before the Committee; 9
WHEREAS, in order for the City of Rancho Cucamonga to maintain its position
for allocations In 1983 on the listing of local entitles which have filed such
notices, the Mortqage Bond Allocation Committee requires, among other things, that
the City cause evidenre of the deposit of an amount of money or, In lieu thereof, of
a letter of credit, securing such amount, which amount shall be subject to the
hereinafter described forfeiture upon the failure to sell any or only a po:tton of
the Bonds
WHEREAS, upon obtaining the �
9 grant of an allocation from the Mortgage Bond 0�
Allocation with uteo, the ntai will assign such allocation to the Agency in
accordance with authority contained in the Costa -Marks Act; and
required WHEREAS,
to bemade Developer
In order • s provide
rfor the City to malntatn t
its Position on on he listing
for allocations by the Mortgage Bond Allocation Ccmmitt -e in 1983, such deposit to
be subject to the terms and conditions hereinafter described and as required by the
'!ortgage Bond Allocation Committee;
NOW, THEREFORE, in consideration of the mutual promises hareln set forth,
and for other good and valuable consideration it 1s hereby agreed as follows:
amount of the hBo Bonds to provide fundsv to purchase Mortgage Loans to be made with
of the principal
respect to Residences to he constructed by the Developer in the Project Area and
it pro rata to fund any required reserve funds ana to pay Bond issuance costs (the
Reservatior ", Prior to the offering of the Bonds by the underwriters to its
syndicate or selling group, the Developer shall, with respect to the Reservation,
enter into a Commitment Contract (and Reservation of Funds), hereinafter referred
to Th Dave ion r hall h Ye the rinmt r,. r,,. --- -_ _ _
2 Concurrently with the execution of this Agreement by the Developer, the
Developer has paid to the Agency in cash an amount of money to the Agency equal to
fifteen- hundredths of one percent ( 15 %) of the Developer's Reservation
cash in the The amount Developer thirty-five hundredths of done l percent1 l(p35%)dtoftathe
Developer's Reservation or an trrevccabls letter of credit (the "Letter of
Credit"),
part hereof, securing payment to the Agency prof Danz amount equal tod
a thirty fiver
hundredths of one percent ( 35 ° „) of the Developer's Reservation If ehe
shall. 111n"it ,AArtr...., _ ..
- -- - - °-• -° in the event that the Developer shall fait imely to
deliver the required additional cash or the Letter of Credit, then the amount of
actual damage sustained by the Agency by reason of such failure will be extremely
difficult to fix Accordingly, it -s agreed that, to the event of any such failure
on the part of the Developer, the Agency shall retain the cash portion of the
Program deposit paid by the Developer as Ilquidated damages
�1
5
0
secured by The amount paid by the Develo er
by the Letter of Creaft, Inc) ,• P fn cash and, if
♦i any additlo al Re at ion `.dfna the amount o applicable' the amount
e f is deer nl —� —dcd or cn �...._.. ...
ae osit a fort ° grant of an ellau cfon sh `ne ueveloper ss pre °o
the Costa -Mpf b ) e1I half 1, Developer 1, all be r G
arks Act an n accordance received by the City, the
City to assist housing for be paid by tf,e Agency with the requirements of
event that Persons of law ant c,oderato Income City to be used b
within the City the
Y in the
Costa -Marks (a) The Bonds are not sold within the
Bond All ct based on is grant of the allocation time
for th
oca tlon Committee Period specified in the
e, or a Bond; b
y the Mcrtgaga
Reservation (b) The Devs toper shall fall
of Funds), substantially In t',,, a execute a Commitment hereby matle a part hereof, attached here [mast Contract (and
members of its syndicate Prior to the off erin b as Exhibit ° "
In accordance with the or selling gr °� or th f the Bonds by the underMrit saio
Fundsm fncludln Provisions of such Commitment vContracthall fall to
Program pa rticl e ' Mithout lfmita ttPn, failure y Developer Reserva Perform
P cfon fees or to post nth r b the per to
B e required letters of PaY atio red
If, and to the extent, credit
shall grant an allocation ent, that the Mortgage
alloca cfon mean allocation and to the City which g gs Bond Allocat+Pn Committee
pro rata bas tart lfled, then the Develo pert thin the al be of the
and then be made first
reducing a reducing actual?, granted f the letter reduction hint be ^e fPO �1t
then title first g the Pmoun
Developer's oblf the amount of of tredit, I* the De
gation to pay a cash deposited, subject a;MaaPPl lcablt,
pro rata share of ca t incurred ys to the
6 Ic is understood th Y will a t the Anent
(o rfe'ted Depostc to the a ac the Agent
I ssuance of the Bon payment of costs incurred 1n connection eY that portion of the
Marks Act Bards to the extent permitted undar the rovis with the osed
Provisions of a Pro
the Cos
cause the lords
on the rrant of
ii, all respects
saclsfactinn .,r
ta-
7 It
11 further understood that the Agency Mfil use Its
to be sold within the period specified In
the allocation by the ,:osta Ma rt,s efforts to
to comolation of nrnr..: :gage_Oond Allocscinn r.. —,.__ Act based
a — -- Y vu cne 0evaloPer which ° ,
pproval of the City of Rancho car
I
or oborea thin to approve ary vothercma [ter
s Agency or be subject to the
4 �
wL
S. The cash portica of the Deposit shall be deposf ted by the Agency in an
interest hearing trust accouni anted an�fnttrest earned thereon shall be Paid by the ,�
tr utee thereof when available ono =ha to tt•e eve o er and one—ha u, the
Agency. _�
_9. Unon dol tvery o7 the Bonds Pursuant to the grant of an allocation by
the Y.or, a e Bond Allocation Committee an grtion of the De osft not sub%ect to _
forfeiture shah be a fed as zha be Provided fn the ftment Loncract and
Reservatf on +t :ands
]0. In tie event that the Mortgage Bond Alldcaticn Committee shall not have
granted an allocation to the City for such Bonds by October 1. 1983, the Deposit
(including the Letter of Credit) shall be returned to the Developer, less an aeount
equal to the Developer's pre rata share of costs theretofore incurred by iho
Agency. The Developer's share of costs shall be prorated based on the ratio of the
Developer's Reservation to all costs of the proce.ds of the Bonds, pursuant
to executed Program Deposit Agreements.
ill WITNESS WHEREOF, the Agency and the Developer have caused this agreement
to be executed by their doly authorized officers as of the date /trst above
written.
RANCHO CUCAMONGA REDEVg10PMEliT 'GEHCy n
• ey
ecutlYe Tt ector 0
[INSERT HAKE OF DEVELOPER]
By
Insert title
1
2
Y
�, 4
�;. 4
MEM
0
p I
no,
4LETTE2EQ OF ISSUVG &Wx)
tETTr Of CY£DIT
January 1983
Gcma��a 2edrrelopmmt Ayraty
9320 FAseline ftad, Suite C
o„s» C4"=mS
W. California 91730
We establish our trrerocable ;.otter of Credit dated January , 1983, in
%air fsicr for the Aces =t of (fcsert azure of Drreloper� up to the aggregate sum o7
fiosert &liar amount equal to .3SZ of Reservation] arif table by your drafts) at
tit following on- office [loser. issuing bank address] and accoganied by
A stateseent signed by Ramc,o tucamu,,Ta Redevelopment yency, Rancho
CacamxTa, California, ce"IfYing tt=t the drawing amount represents
payn'un due under re7u7remenis sPeciffed in the Program Deposit
%,MeaeOt cited as of December . 1982, as agreed by and between the
Rrzroofa RrLerelopmmt Agency and (insert name of
C"aioy_r), and Coostitates an amount gual to the unpaid portion of
the 7-xraa rAWsit pr�'able by {fa—rt name of U.+reioper] to the
f?+-4-= Cteama,a Rederelopreot A-aemry
c+sept as otherwise stated, this credit is subject to the Uniform Customs
and Practice Lbrrsor terry Credits (1974 recision) lo•ernattonal Chamber of Co=erce
P,ialicatlom tb, M.
This Letter of Credit erpfres at our, cowers .gym October 1, 1983.
Yery truly yours.
JfC.r; rizrd fFW-V a Rvineri tgaature
E79t18IT II
1 --
L
i
w
6981C JHHW:ACH:ea 11/23/82
COY.MITMENT CONTRACT :ea 12/18/82
(AND RESERVATION OF FUNDS)
RANCHO CUCAMONGA REDEVELOPMENT AGENCY
RESIDENTIAL MORTGAGE REVENUE SONOS, 1983 SERIES A
RESIDENTIAL MORTGAGE FINANCING PROGRAM
This Commitment Contract (and Reservation of Funds) (the "Agreement ") is
dated a; of the date shown below and is hereby entered into by and between the
Rancho Cucamonga Redevelopient Agency (the "Agency "), and the Developer shown
below
The parties hereto hereby agree that the following terms, dates and =iunts
are a part of this Agreement:
Date: As o'.' 1, 1983
Name Of Developer _
the D eve toper
Project:
the ProNc -t T —
New Residence Purchase Price Limitation $
Mortgage Loan Amount Reserved net
of pro rata reserve funds and
Issuance expenses: $ (the "Reservation ")
Program Participation Fee:
Prepaid Deposit (Including
Deposit Letter of Credit) $ paid _ , 1983
Conolete Appropriate Spaces - A or O
A either remaining portion in
cash (cash plus prepaid portion
to equal Z of Reservation)
8 or remaining portion partially in
cash (cash plus prepaid portion
to equal : of Reservation)
plus deferred portion
Letter of rredit ( `)
Maximus Mortgage Loan nT Lerest Rate
Anticipated Draw Oates and Amounts
Draw Periods
Prior to the Lbst Day of the Month of
S paid , 183
S paid , 1983
u
be CeTivered prior to closing
subject to adjustment downward
FY—Written notice from Agency prior to
closing
Draw Cumulative
(Principal Amount3 Haximun Aswmt
[TO DE PROVIDED
By DEVELOPERI
EXHIOIT "C"
•
0
•
APPROVED AND ACCEPTED upon the RANCHO
CUCAMONGA REDEVELOPMENT AGENCY
terms and conditions set forth
LENDER
By
_
'
By
Executive Director
DEVELOPER-
APPROVED upon the terms By
and conditions set forth
_t
TRUSTEE:
By
Authorized Officer
In addition to the above terms, dates and
amounts, the parties horeto hereby
agree that the terms, conditions, provisions
and recitals contained in pages Z
through 9, inclusive, of this Agreement and in
Exhibits A, 0, C and 0 attached to
this Agreement are a part of this Agreement
For ease of referr,.ce the parties
hereto have executed this Agreement on this
page by persons thereunto duly
authorized all as of the date set forth above
.0
'6
i
A Developer is in the process of suodfviding land within the Rancho
Redevelopment Project Area of the Rancho Cucamonga Redevelopment Agency and
constructing and marketiag residences thereon to the general public (the
"Development ")
B 'he Agency is undertaking a Residential Mortgage Flnrncing Prpgram
(the "PrcgraiP) and, in implementation thereof, proposes to issue Residential
Mortgage Rev;nue Bonds, 1983 Series A (the "Bonds "), pursuant to a trust indenture
a draft if which has heretofore been furnished to the Developer (herein the
"Indenture ") terms defined in the Indenture are used herein with the meanings
therein provided The Bonds art being issued for the purpose of providing funds to
purchase mortgage loans (the "Mortgag9 Loans ") made to provide permanent financing
to eligible borrowers (the "Mortgagor; ") for the single - family dwellings (the
"Residences") to be constructed and marketed by Developer
C The Bonds are proposed to be sold to (the
"Purchasers ") The Purchaser will use an Off fcial SCatr.anc appro —ad ty the Agency
to market the Bonds A copy of the Official Statement has heretofore been
furnished to the Developer
0 (the "Trustee ") will act as trustee for
the holders o onds under the ndenture enl will use proceeds from the sale of the
Bonds during the Commitment Period to acquire Mortgage Loans from the Lender w ?o
will enter into a Mortgage Loan Purchase Agreement and a Servicing Agreement with
the Agency
Accordingly, in consideration of the above premises and for other valuable
consideration the parties hereto agree to the matters contained in this Agreement
1 Reservation of Bond Proceeds The Agency shall reserve proceeds of the
Bonds to provide funds for purchase by the Trustee from Lender of Mortgage Loans
originated with respect to the Residences to the Development in the amount of the
Reservation o,. the dates on or p -tor to , as set forth on the
first page nereof The Agency has, in the � ndentun, ereserved the right, under
certain cl cumstances, to provide for a date subsequent to as
the last date for purchase of Mortgage Loans All purchases o orty —i agl� a Loans Hill
be made on the "Funding Date" as that !arm Is defined in the Mortgage Loan Purchase
Agreement Principal ,.mounts of Mortgage Loans shall not be delivered to the
Trustee for purchase in excess of the cumulative principal amount of Mortgage Loans
specified to ba purchased on or before any date set forth on the front pace of this
Agreement There shalt be penalty for late delivery of Mortgage Loans
"Commitment Period" as used herein shall mean the period terminating
or terminating on such later date as the Agency may prescribe, as authorized by —the
Indenture
2 Construction and MarketiLag of Residences to Eligible Morteaae rs The
Developer wfil construct Residences within the eve opment in o[cortlance with the
applicable standards of, and in compliance with the land use elements and the
housing element of the general plan of the City of Rancho Cucamonga Developer
will (a) use its best efforts to .market Residences which shall not, in any event,
0
exceed the Acquisition Costs (as defined in Exhibit A) permitted by the Mortgage
Loan Purchase Agreement, to p-irchasers thereof who have not had a Present Ownership
Interest (as defined in Exhibit A) during the 3 -year period prior to the date on
which the Mortgage Loan is executed and who are otherwise capable of being
qualified as Mortgagors and (b) cooperate with the Lender in order to permirit to
originate and fund Mortgage Loans, in an aggregate principal arount equal to the
Reservation and in accordance with the furthte provisions of the Mortgage, Loan ,
Purchase Agreement -
3 Income uallfied Persons or Families Except as shown below, the
Mortgage Loan sal be secured by a Mortgage upon a Residence which is located
within the Project and the M.rtgagor shall constitute an Income Qualified Person or
Family. As determined from time to time by the Agency In accordance with the
applicable law and as specified in the Agency's Rules and Regulations for the
Program
(1) With respect to not more than S Principal amount
of Mortgage Loans purchasetl bZ the Yruscee, tWere shalt be no income restrictions,
and
(11) With rreesoect to the remainin ring- of amount of Mortgage Loans
urcha setl the Trustee, Income ua I if t ad ersons nr amlles means persons or
ant 1es which -have a Household Income which does not exceed 120% of the San
Bernaeino Countywide median household income (120: currently equals S )
4 Agreements with Lenders The Agency agrees to enter into Mortgage
• Loan Purchase Agreements and Servicing Agreements (substantially in the fora of the
drafts therecr heretofore furnished to Developer), with the Lender and the T,•ustee
prior to the delivery of the Bonds providing, among other things, for the purchase
by the Agency from the Lender of Mortgage Loans bearing interest at a rate not
exceeding the Maximum Mortgage Interest Rate at not less than
,rcent ( %) of their principal amounts, plus accrued fnterezt, 1 any he
Devoloper agrees to comply with all provisions of the applicable Mortgage Loan
Purchase Agreement and Servicing Agreement as well as all other applicable Program
documents In this regard, the Developer sh 1, prior to purchase of a Mortgage
Loan pursuant hereto by the Trustee on behalf of the Agency, provide to the Lender
for delivery to the Trustee the following documents:
E
(A) If reaulred by state law a final Subdivision Report
applicable to the Residence securing :uch Mortgage Loan Issued by the Department of
Real Estate of the State of rallfornfa;
(B) A certificate of icc --,,aAcy, or its equivalent. Issued by the
City of Rancho Cgcarongs verifying %hat the applicable Residence or, If
applfcab le, the building within which such Residence Is located has been finally
inspected by the Agency and Is released for occupancy; and
(C) If applicable, a copy of tha declaration of covenants,
conditions and restrictions applicable to the Project whereby the homeowner's
association Is obligated to obtair and continue In effect a policy of Hazard
Insurance, including an earthquake coverage endorsement and an inflation. coverage
1C�
endorsement, together with a copy of a policy of Hazard insurance insuring the
condomislum project, containing a provision that said policy shall not be canceled
or terminated, or permitted to expire by its terms, without ten (10) days rior •
written lotice to the Trustee, the Agency and the tender p
5 Program Part lc! atfon Fee Application On the date of execution by
the Developer of this greement, the Developer—p-&-j-d to the Agency the cash portion
Of the Program Participatlob Fee (in full - In part, if in part Letter of Credit
must be delivered) A Letter of Credit securing the deferred portion of the
Program Participation Fee (equal to % of the principal amount of the
Reservaticnl shall be delivered to the Agency, together with the letters described
in Fxhlbfts C and D, prior to the date scheduled for delivery of the Bonds to the
Purchasers In the event the Bonds are hereafter sold and delivered at a cost to
the Agency which permits the funding of Mortgage Loans at or below the Maxfmum
Participation cFee the cash shall be portion
on-refundable by deferred torthenDeveloper , Program ngtha
event that the Bonds are not herec(ter sold and delivered at a cost to the Agency
which will permit the funding of Portgage Loans at cr below the Maximum Interest
Rate, such Fee shall be refunded to the Developer less ar amount equal to the
Developer's pro rata share of expenses theretofore Incurred by the Agency The
Developer's share of expenses shall be prorated based on the ratio of the
Developer's Reservation to all reservations of the proceeds of the Bonds. In the
event the Bonds are sold and delivered at a cost to the Agency which will permit the
funding of Mortgage Loans at an Interest rate below the Maximum Interest Rate, the
Agency will on the date of purchase of the Bonds by the Purchasers mail written
notice to the Developer of the amount of such reduced Interest rate
G Prooram Particl acton Fee - Deferred Portion 1f A lteable Letter •
in Credit a he eve oper understands that t o genet' has incurred antl w 1
Incur ee rca in expenses 1n connection with the Issuance of the Bonds a portion of
worth must be recovered by the Agency from Developer at the time of purchase of
Mortgage Loans by the Trustee 'no amount to be so recovered by the Agency
represents a deferred portion Of the Developer's Program Participation Fee equal to
of the Developer's Reservation Accordingly, Developer agrees to pay the
deterred portion of the Program Participation Fee in cash for the account of the
Trustee concurrently with the purchase of each Mortgage Loan by the Trustee
ParticipationbFee To the Developer shall, At ltra Deferred three (3) business days prior
the date scheduled for offering of the Bonds by the Purchasers to Investment
bankers, banking Institutions and member. of tos general public, deliver to the
Agenzv the letter of Credit to be posted with the Trustee on behalf of the Agency,
The Lettsr of Credit shall be Irrevocable, shall name the Trustee as beneficiary,
shall authorize th• Trustee to draw thereon by prosantfng a written statement that
payment 1s due (Inc, ding a requirement that the Bank Issuing the Letter of Credit
have a rating Assign,' by Standard b Poor's Corporation of "M" or better) and
shall be substantially In too form attached hereto as FAhlbit D
The amount of the Letter of Credit may t !used quarterly on January
1, April 1, July 1 and October 1 of each year. Coaae•cfng 1, 1983 The
adjusted amount shall be equal to the then unpaid amount of the de erred portion of
the Program Participation Fee
13
The Trustee shall draw on the Letter of Credit in an amount equal to
the then unpaid amount of the deferred potion of the Program Participation Fee (a)
at any date on which the Letter of Credit expires or (b) at the end of the
Commitment Period
7 Developer Representations, Warranties and Covenants The Developer
represents and warrants to and covenants with-the-Agency as a part of this
Agreement, and, In order to Induce the Purchasers to purchase the Bonds represents
and warrants for the benefit of the Purchasers, as follows:
(a) The Developer has reviewed the description of the Developer and
the Project contained in the Preliminary Official Statement. Such description does
not contain any untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements contained therein, to the li•ht of
the circumstances under which they were made, not misleading.
(b) Except as described In the Preliminary Official Statement, (1) the
Developer holds good and marketable title In fee simple to the real property
described in the Preliminary Official Statement as constituting the Project or has
the right to acquire such title as described therein subject only to encumbrances
of the typo defined In the Indenture as "Permitted Encumbrances" and the lien of
any construction financing and purchase money deeds of trust; and (it) such real
property is currently zoned to permit the construction of single - family dwelling
units of the type proposed to be constructed thereon.
(c) Tha Residences to be constructed In the Project will be eligible
• for private mortgage Insurance and will be constructed in accordance with all
applicable building codes and regulations and with the land use element and housing
element of the general plan„of the,\Clty of Rancho Cutamon a,iand will substartlaily
conform to the description thereof set out n the re m nary Official Statement
(d) The Developer is not in default In any material respect under any
agreement, indenture, mortgage, lease, note or other obligation or Instrument to
which It is a party which would materially adversely affect the transactions
contemplated by this Agreement, the Purchase Contract or the Preliminar•, Official
Stetome,t, and the consummation by it of the transactions covere..1 by this
Agreement the Purchase Contract or the Preliminary Official Statement till not
conflict with, or constitute a default under, any such agreement, indenture,
mortgage, lease, note or other obligation or Instrument
(e) To the knowledge of the Developer, there is no action, suit,
proceeding, Inquiry or Investigation at law or to equity, before or by any public
board or body pending or threatened against or affecting the Oeveloner, or any
basis therefor, wherein an unfavorable decision, ruling or finding would adversely
affect the transactions on the part of the Developer contemplated by the
Preliminary Official Statement
(f) The Developer has read and understands the intended application of
the provisions of the Mortgage Loan Purchase Agreement and the Servicing Agreement
referred to in Section 4 above and agrees to cooperate With the Lender fully In its
fnvestigattons and other duties described in the Mortgage Loan Purchase Agreement
1q
(g) Piplicabla provisions of the Mortgage Loan Purchase Agreement
require that, prior to the purchase of a Mortgage Loan by the Trustee on Behalf of •
the Agency, the Developer shall execute and deliver in affidavit (the "Seller's
Affidavit" - in fare attached to the Mortgage Loan Purchas3 Agreement) duly sworn
affirming, among other things:
(1) that the Residence is a single - family Residence located _
within the boundaries of the City of Rancho Cucamonga, the construction of which is
complete;
(2) that all of the land being sold with the Residence reasonably
maintains the basic livability of the Residence, and the land is not subject to
further subdivision;
(3) that thr Acquisition Cost of the Residence does not exceed
one hundred ten percent (1I0.4) of the Average Area Purchase Prica (as defined in
Exhibit A),
(4) that the settlement and financing costs do not exceed the
usual and reasonable costs that would be paid by he Mortgagor where financing was
not provided through the Bonds;
(5) that the Developer has not entered into any agreement with
the Mortgagor pursuant to which the Mortgagor has agreed to pay monies in excess of
the Acquisition Cost of the Residence (other than rentals, in an amount not to
exceed the fair rental value of the Residence as determined by the Lender, pursuant
to a temporary rental agreement with the proposed Mortgagor pending purchase by the
Trustee on behalf of the Agency of the Mortgage Loan secured by the Residence) or
pursuant to which any portion of the Residence has been left unfinished or any
fixtures or other architectural appointments have been exitted or removed from the
Residence in order to reduce the Acquisition Cost;
(5) that the Residence is not located on leased land or if the
Residence is purchased subject to any ground lease, the capitalized value of such
ground lease is included in the Acquisi Lion Cost;
(7) that the Residence has not been previously occupied except
pursuant to a temporary rental arrangement with the proposed Mortgagor pending
purchase by the Trustee on behalf of the Agency of the Mortgage Loan secured by the
Residence;
(B) that no portion of the proceeds of the Mortgage Loan will be
used to acquire or replace an existing mortgage of deed of trust, other than
construction or other temporary financing
B 1 in ion of Develc er's Counsel Developer's Reaffirmation The
Developer wi 1, prier to the d; Ivery o the pods to the Purchasers, tarnish to
the Agency and to the Purchasers an opinion of Developer's counsel substantially in
the form of Exhibit C attached hereto In addition, the Devel •ier will furnish to
the Agency and the Purchasers a letter of the Developer dated as of the date the
Bonds are delivered to the Purchasers and substantially in the form of Exhibit 0
attached hereto
0
15
f'
9 Interest Rate "Bu dowwn", The Developer shall be entitled to cause
O certain of t�manth y pl ayments due from the Mortgagor on any Mortgage Loan to be
reduced by paying to the Trustee at the time of purchase by the Trustee of such
Mortgage Loan the total of the aggregate amount by which the monthly payments are
to be so reduced but only as follows: I
(a) The payment -to- Income ratio of the Mortgagor and the obligations -
to- income ratio of the Mortgagor (and of any guarantor) shall be not less than the
current underwriting requirements of FNMA or FHLMC and shall demonstrate
qualification of the Mortgagor for a Mortgage Loan on the basis of payments
applicable during the first year of the Mortgage Loan after taking into account the
reduction in the Mortgagor's monthly payments during the first year;
benefit of the hortgagor with monthly deposit
releases scheduled which serve to reduce the
Mortgagor's payments during the early years of the term of the Mortgage Loan;
(c) the term of the "buydown" period may not be less than one year, but
may extend for the stated maturity of the Home Mortgage;
(d) the "buydown" may not have the effact of rsducirg the Mortgagor's
monthly payments by more than an equivalent of reducing the Maximum Mortgage
Interest Rate by three percentage points;
(e) any decrease In the [•cunt of the "buydown" must occur annually
and no such decrease for any one year may exceed one percentage point;
by FDIC, (f) the trust account must be held by the Trustee and must be insured
(g) the Mortgage Loan may make no reference to the "buydown" and the
Interest rate and monthly payments provided in the Mortgage Loan may not take into
account the "buydown ";
(h) the trust agreement with the Developer must require the Trustee to
credit monthly payments to the Lender for the account of the Mortgagor;
(1) the trust agreement must provide for any interest on the trust
account to be paid to the Developer remain In the trust and for reversion of
moneys held in tie I - It account to tt.. Developer if the Residence is sold by the
Mortgagor or the kurtgage Loan is prepaid to full, whether voluntarily or
Involuntarily;
(J) the moneys for the "buydown" must be placed In the 'rust account
prior to purchase of the Mortgage Loan by the Trustee and must be sufficient
(without interest unless interest is to remain In the trust account and tho Trustee
agrees to a fixed rate of Interest for the full term of the trust) to make all
monthly payments provided under the "ouydown ", and
(k) the Mortgagor's only interest in the escrowed moneys Is to have
them applied to payments due under the Mortgage Loan as provided in this paragraph
and sucn moneys may net be used to pay past due payments of the Mortgagor
The Developer shall pay the amount referenced In this paragraph 9 at the
tire of purchase by the Trustee of the Mortgage Loan on behalf of the Agency by
paying (or otherwise causing to be credited) Into the escrow for such purchase
such o Section of Exhibit the
ucham unt to theaccountoftheTrusteeon behalf 9
ofLthe Agency se Theeescrow
company shall disburse such amoun• directly to the Trustee upon the close of such
escrow The Developer shall compensate the trustee for any chaises of the Trustee
in administering the trust account
10 Transfer of Reservation In the event that the Developer shall not
desire use o the rota Reservatlon, such Developer may transfer such portion of
the total Reservation as the Developer shall determine appropriate to any other
developer which has, prior to the delivery of the Bonds, entered Into a Commitment
Contract (and Reservation of Funds) with the Agency for use exclusively with
respect to a project described In such Commitment Contract (and Reservation of
Funds) The Developer shall net, however, in such event be entitled to a refund
from the Agency of any portion of the Program Participation Fee paid cy the
Developer Any developer accepting such transfer of a Portion of the total
Reservation shall pay, and may only pay, to the Developer such pro rata portion of
the Program Participation Fee as shall represent thr portion of the total
Reservation ransforred pursuant to this paragraph 10 In addition, upon written
approval of the Agency, the Purchasers and any rating service which has assigned a
rating to the Burds, the Developer nay, subject to the same conditions, transfer
all or a portion o' the Reservation to a developer which has not entered Into a
Commitment Contract (and Reservation of Funds)
11 Bondholders Neither the Developer nor any Lender approving and
accepting this greemant shall become, directly or indirectly, holders of the
Bonds
12 Eouai Opportunity. Mo Discrimination -he Developer shall assure that
all contractors and subcontractors engaged 1n Residential Construction shall
provide equal opportunity for employment, without discrimination as to race, sex,
marital status, color, religion, national origin or ancestry All contracts and
subconstracts for Residential Construction shall be let without disc- iriination as
to race, sex, marital status, color, religion, national origin or ancestry It 1s
the policy of the Agency to encourage participation by minority contractors
13 PledU or Assignment Tito Agency may at any time assign or pledge for
the benefit and security of the i eiders of Bonds any or all of Its rights under this
Agreement, and thereafter this Agreement shall not be terminated, modified or
changed by the Agency or the Developer except in the manner, if any. Imposed by the
terns and provisions of such assignment or pledge The Developer may not assign or
transfer any of its rights or interest pursuant to this Agreement without the prior
written consent of the Agnrry
14 Governing Law All questions with respect to the constructlor of this
Agreement, and the rights and liability of the parties hereto, shall erned by
the laws of the State of California
0
17
a]
15 pa ra ra h Headin s and References
SParagraphs he— reof she 1 be solely for The headings of the
the meaning, construction or effect convenience of reference and shall not several
ect of this Agreement
16 Severabfltt
application there shall to any extent be oinvalidl or unenforceable, ai the
of this Agreement, or the application of such term or
other than those to whit coati le, the remainder
there Sy, and shall be h it fs invalid of' unenforceablrovis ion to circumstances
Dernftted b enforced to the extent e� shall not be affected
wojld render any applicable law, the parties Peforcead by law To the
Y of the terns of chart Agreement hereby waive any provfsfon of law which
unenforceable which
17 Waiver No failure on the or ant of any part enforce any
covenant or provision herein contained,
discharge or invalidate r vision y hereto to
Party to a such covenant f any right hereunder, shall
Y nfo ^ce the same in the a or provision or affect the right of such
to demand strict performance ,� anent of any subsenuent breach or default; failure
not be deemed a waf ver of such covenant ovenant or
condition of this Agreement shall or condition
and hold8 th Indt�Y The Developer shall Indemnify the Agency an
reasonable attorneys, ess of and from any and all loss, penalty d the Trustee
as a result fees damage or expense that an Dena lty, fine, forfeiture,
duties obligations any fa pure on the part of the Developer of them ea
and obllgatinns under the terns and eveloper to y sustain er incur
Provisions of this Agrre a its services,
lg Lie Time is of the essence Agreement
of this Agreement
which shall Counterparts ahn originment may be executed In counterparts, each of
and the e veemetl to be
e sdme instrument gins 1, and Such counter
parts shall constitute one
W
AdUea
Acqufsition Cost weans the cost of acquiring a Residence frca the Developers
or other se le —ors as a eoczpletd residential unit. •Acquisition Cost" includes all
ama=ts paid, eitter in cash or In kind, by the liortgagor (or a related parry for w
the benefit of the Nprtgagor) to the Orrelooer or other seller (or a relatd parry
for the beneftt of the ikveloper or other seller) as cansidrrat!s.: for the
Residence If the Resider =e is -jrchasd subject to a ground lease then the tern
'Atquist.ian Cast" includes the c —.z4 izd valui, of any ground rent payable with . -
respect thereto_
If a Residence is incxalete, .he tern •Acquisition Cost' includes the
reasonable cost of colleting the Residence whether or eat the cost of ca :pieting
canstruttlw is to be financed with Bond proceeds. For example, where a Ynrtgagar
purchases : building ✓hick Is so fnco:oplete that occupancy of ice building is not
perm Y.0 under local law, the urn - Acquisition Cost- includes the cost of
r - letir,g the building so that r..cu;.anry of the building is pemitted. As a
farthmrr ezz ;le, where a Yart;agor agrees to purchase fixtures at a separate price
frca the seiler or otherwise, the tern 'Acquisition Costa includes the price paid
far such firtures
The tem - Acqui: itfov Cost• does not include usual and reasonable setticent
or financing costs 'st.lement costs` frIude titling and transfer costs, title
insurance, survey fees, .ad other similar cuts. vFt"nciog cosy' Include credit
reference fees, leg.• fees, aprraisal expenses, 'paints' which are paid by the
buyer (ba.: not 1w seder, even th=•sh borne by the Yart;agor through a higher
purchase price) or nther tests of financing the Residence. Yssever, settlement
vests and 'ina•iI -q casts are excluded fn dete3fafeg Acquisition Cast only to the
extrht that <r_h aanunts do mrt exceed the usual and reasonable costs which would
be pa•d c7 :lie buyer where inauriog is cot provided thrsgh the Bonds. For rata Ab
exacole, if the Mo- t ia cagor agrees to pay to the seller mra than a pm share of
breperty taxes, su:h excess stu11 be treatd as part of Acquisition Cost of a
Residence 1n axi:tfan, if tie 11art;e.9or agrees to pay to the seller an amunt
suf•icient to pay outstanding assessment liens, such cayaent shall be tre:td as
pars of Acquisition Cost of a ilesfdenu
T
he tern 'Acouisitim Cost' also does not Include the value of services
perfo, red by t'se kar-.;agor or ambers of the Mortgagor's family in completing the
Residere
Average Area %r-; 4se price cans the average area purchase price
deterirea 'or nays wh'Ci have not been previously occupied as p-blfshed by the
1hirG States Treasury Department for application to he jurisdfCtl" within which
t.m . esidence is 'x ted or, if higir_r, such amat as shall be determined by the
Agency. (based r;= (I) a coorehensfve sursey (which surrey shall be based upon
data in the relevant c unt7 assessor's office) of resi tatfal hoas169 sales to the
appropriat,t statistical area, and (11) the gtatca of eatfcnally nKo;nlzed bond or
tax xmmsel chat a par^'•. -.ase price determined cy the Asmry steal. cast cause Via
icte-rest on the °ends to be subject to iederal fnc:s tanatim) al the average
pUM!'454 prge of all applicable single-family residences In said statistical aria
for the rest recent twelve (12) maoar' period for which sufffcfeot statistical
!nforyttcn is available_
EWLZIT A
1
w
a.
h
w
0
present 6mersht lrtemst (act. applicable to last 1% of Developer's
Reservation) Inc odes ril a et single interest; (11) a Joint tenancy, a tenancy 14
ne=on, or tenancy tr, the eatfrely; (III) the interest of a tawot ,harcSolder in
the cao;eratfve; (iv) a life estate; (v) a land caatract (I.e., a contract ctrsoant
to which possession am:d the beceftts and burdens of aiaemsIp are transferred
altYcvgh iral title Is cot transferred until sate later tine); and (vi) an
interest held in trust for thA rda— .ga;or (whether or not created by the Kmgagzr)
V-= would constitute a present aaerzntp interest if held directly by the
rertgagar. The sera "present O.Mership Interest• encltties (I) a reaainder
interest; (fi) a lease woltb or vittavt an option to pv #.ase; (111) a tern
ea;ectaccy to Inherit as laterest in a prfxipai residence; (iv) ttx interest that
a purchaser of a residence acquires m err evecatlon of a iwchase ccatram —, and
(v) an Interest to rater than a priacipal residence durtnl tee previous three (3)
years.
EMUST Is
A
(LETTERHEA., OF ISSUING BANK) NO 0
LETTEk OF CREDIT
January _, 1983
[Insert (lame and Addr, . of Trustee]
We establish our irrevocable Letter of Credit sated , ig83, in
Your favor for the Account of (insert name of Developer) up to the aggregate :um of
[insert dollar arount equal to S of Reservation] available by your Araftks) at
sight drawn on us at our office insert Issuing bank address] and accompanied by
the following document
A statement signed by [Insert name of Trustee), Trustee for the
Rancho Cucamonga Redevelopment Agency, Rancho Cucamtnga, California,
certifying that the &awing amount represents payment due under
requirements specified In the Commitment Contract (and Reservation
of Funds) dated as of 1983, as agreed by and between the
[Insert name of Trustee rus tee for the Rancho Cuetrtnga
Redevelopment Agency and [insert name of Developer], and constitutes
an amount equal to the unpaid portion of the Program Deposit payable
to [Insert name of Trustee] for the Rancho Cucamonga Redevelopment
Agency
The amount of this Letter of Cred t may be periodically rdiced upon receipt
by us of a statement Jointly signed by the Trustee for the Rancho Cucamnnga
Redevelopment Agency and [Insert name of Developer] specifying the amount of the
reduction and the effective date thereof
Except as otherwise stated, this credit is subject to the Uniform Customs
and Practice Documentary Credits (1914 revision) International Chamber of Commerco
Publication No 290
This Letter of Credit expires at our counters on
Very truly yours,
Authorized Signature Authorized Signature
EXHIBIT 8 e
1
Cai
S(Letterhead of Counsel to Developer)
(Date)
Rancho Cucamonga Redevelopment Agency
Stone 6 Youngberg
One California Street
Suite 2800
San Francisco, California 94111
Rancho Cucamonga Redevelopment Agency
Residential Mortgage Revenue Bo•ids
1983 Series A
Gear Sirs:
We have acted as special counsel for (name of Developer) (the "Developer ")
in connection with Its participation in the residtntial development, located in the
Rancho Redevelopment Project Area (the "Development "), the permanent financing for
which Is proposed to be provided from proceeds of Residential Mortgage Revenue
• Bonds, 1983 Series A (the "Bonds ") beina issued by the Rancho Cucamonga
Redevelopment Agency (the "Agency ", pursuant to a resolution of the Agency. The
Bonds have been sold to Stone d Youngberg, as purchasers thereof
i
In that connection we have examinrd originals or copies identified to our
satisfaction of the Commitment Contrac. (and Reservation of Funds) between the
Developer and the Agency (the "Commitment Contract (and Reservation of Funds) "),
the parts of the preliminary Official Statement relating to the Bonds which
,le.cribe the Developer and the Development and such other documents we deemed
necex.ary in order to render th1• apinion
Based on the foregoing, we are of the opinion that:
(1) The Geveloper 1s a duly created and lawfully existing California
(corporation) (general partnership) (limited partnership).
(11) The Commitment Contract (and Reservation of Funds) has been duly
authorized executed and delivered by the Developer and constitutes a valid, legal
and binding nstrument enforceable against the Developer in accordance with Its
terns
(ill) The carrying rut by the Developer of the transactions
contemplated by the preliminary Official Statement will not violate the (Article of
Partnership) (Charter or Bylaws) of tie Dev ^loper or any court order by „hich the
Deve'.iper Is bound, and will net violate the provisions of, or constitute a defu it
EXHIBIT C
1
RiM
`t
under, any agreement, indenturo, mortgage, lease, note o• other obligation or
instrument to which the Developer is a party and, except as Indicated in the
preliminary Official Statement, no approval or other action of any governmental
authority or agency Is required in connection therewith
�t (iv) To our knowledge, except as set forth In th, preliminary
\/ Official Statement, there is no action, suit, proceeding, Inquiry or Investigation• -
6 at law or in equity or befoFe or by any public board or body against or affecting
the Developer or any bas s therefor, wherein an unfavcradle oeeision, ruling or
finding would adversely affect the transactions on the part of the undersigned
IV / cant plated by the 7 eliminary Official Statement
(v) To our knowledge, the Developer Is no; In default in any material
respect under any agreement, indenture, mortgage, least), note or other obligation
or instrument to which it Is a Party and the consummation by it of the transactions
covered by this letter, the Pu•chase Contract or the preliminary Official Statement
will not conflict with, or constitute a default under, any such agreement,
Indenture, mortgage, lease, note or other obligation or Instrument
We have .eviewed the description of the Oeveleper and Its activitict In the
preliminary Official btatement dated , 1983 Nothing has come to our,
attention which would lead us to believe that such description contains any untrue
statement of a material fact or omits to state a mattrial fact necessary in order to
make the statements contained therein. In light of the circumstances under which
they are made, not misleading
Very truly yours, S
(To be delivered to Agency prior to del ivory of the Bonds
to the Purchaser)
EXHIBIT C
2
it
• (Letterhead of Developer)
(Date)
Rancho Cucamonga Redevelopment agency
Stonc L Youngberg
One California Street
Suite 2800
San Francisco, California 94111
Rancho Cuu monga Redevelopment Agency
Residential Mortgage Revenue Bonds
1983 aeries A
Dear Sirs
We refer to the Commitment Contract (and Reservation of Funds) dated as of
1983, between the undersigned and the Rancho Cucamonga
edeve opment Agency
the date hereof and 410 (and
We the hereb
representations a and (warranties made by s in said9Commit ent C ntract
(and Reservation of Funds) except that, for purposes of this letter all references
to the Preliminary Official Statement shall be deemed to be references to the Final
Official Statement dated 1983, of the Agency relating to the Bonds
Very truly yours,
(To be delivered to Agency prior to delivery of the Bonds
to the Purchaser)
DI
EXHIBIT 0
1
J yC.
SELLER'S AFFIDAVIT
RANCHO CUCAMONGA REDEVELOPMENT AGENCY
RESIDENTIAL MORTGAGE REVENUE BONDS _
The undersigned, as proposed seller of a residence to a Mortgagor, for a '
residence the permanent financing of which will be provided by the Rancho Cucamonga
Redevelopment Agency from the proceeds of its Residential Mortgage Revenue Bonds,
1983 Series A, and to induce the private Insurer of the applicable Mortgage Loan to
provide private mortgage insurance, does hereby declare and certify, under penalty
of perjury that each of the following statements is true and correct:
(1) that the Residence Is a single- family Residence, the construction
Of which is complete,
(2) that all of the land being sold or leased with the Residence
reasonably u maintains the bast; livability of the Residence, and the land is not
subject to further subdivision;
(3) that the Acquisition Cost of the Residence does not exceed one
i undred ten percent (110 %) of the Average Area Purchase Price;
(4) that the settlement and financing costs do not exceed the usual
and reasonable costs that would be paid by the Mortgagor where financing was not
Provided through the Bonds;
Mortgagor pursuant ton which the Mortgagor has agreed tonpay mo eys r In mex ess i of the the sler has not entered
Aceuisition Cost of the Residence (other than rentals, in an amount not to exceed
the fair rental value of the Residence as determined by the Lender, pursuant to a
temporary rental agreement with seller pending purchase by the Trustee on behalf of
the Agency of the Mortgage Loan secured by the Residence) or pursuant to which any
Portion of the Residence has been left unfinished or any fixtures or other
architectural appointments have been omitted or removed from the Residence in order
to reduce the Acquisition Cost;
Residence 1s(6) that the Residence 1s not located on leased land or, 1f the
such ground lease hasebeenbincoudedain the Acqulsitiao Cost; othe capitalized value of
(7) that the Residence Is located within the boundaries of the City
of Rancho Cucamonga;
(8) that no portion of the proceeds of the Mortgage Loan will be used
to acquire or replace an existing mortgage or deed of trust, except for
construction or other temporary financing,
Pursuint (9) that the Residence has not been previously occupied except
Trustee on behalf temporary the Agency ofa he arrangement
Mortgage Loan seller
secured by the Residence by the
Exhibit E •
I
as
• (lo) that the seller has read the affidavit and the definitions of
Acquisition Cost and Average Area Purchase Price attached to the affidavit;
representatives of that
the Lender seller
Intent sto econductminvestigations t to assure the truth
of the aforementioned facts at the time of execution D authorized
and that the s ^tier agrees to provide such informon by the seller of the affidavit
Lender in but not limited to business records or access to In formdtlod,__
Lender fn its Investlga lion; of the seller,
as will aS51SL the
Punishable b 12) that the seller is informed and understands that
addition, that falsiflcatf n of the affidavit It nsan for perjury is
Civil suit for monetary uP to four years and, in
rY damages Y ca use seller to to liable In a
Subscribed and sworn to before me under oath this _ day of
19
Exhibit E
2
°_— CK
Notary ub is in dntl forfor th�
County of
•
I
ADREEKENT FOR ENGINEERING SERVICES
THIS MRECHENT, made and entered into this __fay
of , 1981, by and between the Rancho Cucamonga
Redevelopment Agency located in the State of California, County
of San Bernardino, hereinafter referred to as 'Agency' and Psocas 6
Associates, a Ca ifornie corporation, consulting civil engineers,
with offices located at 1501 Poularino Avenue, Costa Mess, CA 91616,
hereinafter referred to as 'Engineer-.
M I T F B S S B T Ht
%HEREAS, the City Council of the City of Rancho Cucamonga
by its adoption o' Ordinance No. 188 on Deceobor 17, 1981, has
authorized the Redevelopment Agency of the City of Rancho Cucamonga
to undertake a redevelopoont plan for the Rancho Redevelopment
Project, and
WHEREAS, the Redevelopment A701acy of the City Of Rehcho
Cucamonga was authorized by California Health 6 Safi' ^.oats Section
13445 to pay all or pact of the value of the land for and the cost
of the installation and constrtctlon of any facility, structure,
or other Improvement which Is publicly eunad either within or
without the Rancho Radevelopa.unt Project Kea necessary to carry
out this plans and
MIERBAS, the City Council of the Clty of Rancho Cuca - -nqa
and the Redevalopnont Agency of the City of Rancho Cucamonga have
determined that certain freeway interchange it Proveeents at the
interesection of Interstate Highway 15 and Foothill Boulevard are
of benefit to It.P Rancho Redevelopment Project and that no other
tuaeonabl• reins of financing such facilities, structures or
other Soprovoments, are available to the covaunity of Rancho
® Cucanangal and
tRIERCAS, the Redevelopm of Agency of the City of Rancho
Cucamnga is authorize,, by California Health z Safety Code Section
Vill
W
ICI]Il to prepare and carry out plans for the improvernnc,
rehabilitatiom, and redevelopment of blighted areaq and
WEALAS, Agency requires engineering services fer
the analysis and design of certain freeway interchange
lmproment• at Interstate 15 and foothill Boulevards and
NNENEAg, Engine Is expeclancod in traffic analysis
and roadway design, has experience in coordinating city and state
projects and has various relevant capabilities nacaseary for
Implementing said vorkt
NOM, TNCAEMM, in conaldaratlon of the covenants
end conditions hereinabove contained, the parties hereto
agree as follows,
Niamey does hereby retain Engineer In a contract
capacity and Engittering shall perform the functions mta
particularly described in fahiblt 'A'
0
I COOMIxATION
I. performing these services, Engineer shall
continually coordinate needs ofthe Agency, the interests
of the State, and the requirement, of law to insure the
teat practical project for all concerned, but It all times
giving priority to the fundamental fnteresta of the Agency
S2. COMPf]ibATSON
sgancy shall reimburse E.iglnaer for services
performed as fOLlmwa,
-2-
0
1'!�
r
1
Compensation for 7n91nearing Services
rendered shall bo as sac forth in exhibit 'B'
attached hereto and made a part hereof
2
The foregolnn rates and prices shall Include
expenses incident to perforrunco tf the
wors authorized except as Abova at forth,
as Sall as equipment and inst,uments, the
use of oltice space and minor maaar.li
And supplies
]
Engineer shall bill the Agency monthly
Billing sill show amount billed rn da,w
ar,ow, paid to date, and current balance
to t aid Copies of invoimts to Engineer
for outside esrvlee. for which releb,r.1 ant
is requested shall be attached to Cnginons'•
bill
t
Agency anal. retain the right to review
And disagree with Engineer's billings. Any
dlengreasunt of b1111nS shall be reviewed
with the Engineer Payxnt shell be rude
by Lila terms of this Agroenent as far as
pon.iblo Where tria Agreemunt cannot
bi appLi.d. payment shall be mado by
metual agreement batvaan the Agency and
Engineer
5
The f1nal ton Iwrcant 1101' of the fee
state' hercu, shall not no billed until
Cnglncer has coeplcted all authorized
work and Aguncy has accepted said ark
6
d.lcncy atal pay rnglecer the amount due
oneo each month following appruval at
a regular mcoting of tlm Iledevelupment
A•lency
`V \ I
a
A
III ITISTkLCTIO.IS TO C1 ^,It6rrn
In the pertor.'ianee of the effort. sot forth In
this contract Enganeir shall report to and r•,Ive lnstructrons
from the Agency's engineer or a,•ch other person or officer
which Agency or Agency's engineer naY drslgnate
IV ThMINATION
1 Agency reserves and "a the right and privilege
cancelling, suspanding, or abandoning the
execution of all ur any warx in connection
with into agrea.nt at any tla$ epon written
notice to Eeyine.r
I L t.t event of twrmle.tlon, all finished
or unflnrened data, studies, raps, and reports
prevarad by Erglnesr, shall At the option
of Agency t ... me Agency's property •
i In tht event of tarminatron, Agency $hall
pay Enyir.eur f1 a I services performed
and all expanses Incurred to data or tart lnation
of this Agreement on A Iles end sat -riAls
brsis In accordance with Engineer's
standard billing rates attached hereto
V SCIICUULP
The axeeution of this Agreer by the parties
hereto shall constitute an aethorimtion to proceed whernupi.n
Engineer will ccorcncu .rocdiately on the requirsd work
It, L1:.VSS UdLALOF sold parties have executed this
dgrvcroAt nn the "to first berm nabove wrltt.n
48111.0 I'CCA:O%GN pSo.l, %S t ASSOCIATES.
PLDMLLOWICIT ,6,L.ICy i Caalliii ffoorrniani Curperetien
Uy_ UY_—in111',ila L. l+`6+1+vrY
Vic. plc Pid.nt •
3�
ns
CLIENTS COPY
sue...,
E
DECEMdER 20, 1982
EXHIBIT "A"
SCOPE OF SERVIUS
I Prepare project work program for submittal to alTrdns Pre-
paration of this program will include ..,: following tasks:
A. Meet with staff of Rancho Cucamonga a ^d CalTrans to
discuss their concerns and objectives regarding modifi-
ations to the int rchange
0 Meet with the Cucamonga Water District, San Bern—dino
County Flood Control District, Edison, Gas, Telephone
and Cable TV to verify location of utilities that may be
impacted by the interchange modification
C Traffic Engineering for Stage I Project Work Proiram
1. Traffic Volumes and Existing Capacities
a Obtain current data from the City of Cucamonga
(daily and peak hourly) for the freeway ramps and
Foothill Boulevard.
b Estimate current hourly capacities
c Calculate existing volume /capacity ratios
d. Estimate future traffic volumes (dhily and peak
hourly) 20 years after the interchange improve-
ment based on DKS Associates reports.
e. Calculate volume /capacity ratios for future
traffic with existing system
2 Alternative Improvement Programs
a Examine two alternative nterchange plans.
Assign futurr. traffic
- Evaluate volume /capacity, ratios
b Recommend interchange des'gn
�13 /
O PROPOSAL FOR ENGINEERING SERVICES
C OF RANCHO LULANOIIGA
nyL
PAGE THO
3. Project Phasing
a. Assess 'the feasibility of phasing the improvements.
- Estimate the annual traffic growth bases on
development densities.
- Project the highway improvemrnts needed in
five and ten -year perioas
D. A draft of the Program will be submitted to the City Staff
for their review and comment prior to submittal to Cal Trans.
Included in the Project Work Program will be the following:
1 Letter of Transmittal
a. Proposal
b Justification
e. Statement as to Project Consistency to
Governor's Urban Strategy
d. funding
e. Agency Role
f. Schedule
g. Location Map
2 Stage I - Project Work Program
a Location Map
b Graphic presentation of proposed modification
c. Definition - General statca+ent relating to
area development
d. Proposal - Goals of modification
e Alternate or other possible solutions
f Background - Discussion of traffic studies,
existing and proposed lanw use, and impact of
changing land use on intemchange
g. Major Issues - Any anticipated opposition to
the modification
CI
JPROPOSAL FOR ENGINEERIUG SERVICES
CITY 0.• =,'CNO CU"%)NGA
iit" - -. PAGE TfiREE
2. Stage I - Project Work Program (Continued)
h. £oviro-mental Issues - Statement that all
environmental natters will be addressed upon
approval of Project Authorization Report
I. Publi- Interest Groups Affected - Mat a:tfve
ccamunity or minority groups. if any, will be
affected by the modification
J. Public Awareness - What programs will be
implemented to gain public awareness
k. Growth Inducement - Is the modification con-
sistent with the City's Sound Management
Policy for new urban development
1. Project Catagory - Relative to Freeway
Agreewent Modification
m. Construction scheduling and funding
n. Project Organization
- Interested Parties
Project Development Team
o. Project Development Schedule
p. Apendices
II. Traffic Engineering for Preliminary Design
A. Interchange
1. Prepare criteria based on projected traffic d.mands
in OKS Associates report.
a. Number of lanes
b. Turnfng- novecent lane lengths
El
i
O PROPOSAL OR ENGINEERING SERVICES
CITY OF RANCHO CUCAMONGA
PAGE FOUR
B. Foothill Boulevard from Day Creek C ,)ulevard to just east
of Devore Freeway
1. Width and number of lanes
2 Channelization
C. Day Creek Boulevard Geometric Designs and Alignments
1. Lbtain right -of -way requirements and restrictions
from Southern California Edison Company.
2. Examine alternative intersection locations and
access.
f-I
L
a.
Foothill Boulevard
b.
Regional Center
c.
Other developments north of Foothill Boulevard
3. Recommended Design Criteria
' a.
Select alignments
b.
Geometries and controls
D. Traffic
Controls
1 Traffic Signals
a
Evaldrte the coM'tien of the existing traffic
signal at Foothill Uoulevard /ramps intersection
to determine salvageability and reuseat,ility
b
Prepare phdsing diagrams for three traffic
signal installations.
- Foothill Boulevard relocated northbound
ramp
- Foothill Boulevard /southbound ramp
- Signing and striping
c.
Prepare cost estimates foi traffic siqnals, signs,
and striping.
O,^y PROPOSAL FOR ENGINEERING SERVICES
,�`•, CITY OF RANCHO CUCAIIONGA
'_•;L. PAGE FIVE
III. Prepare 200 -scale schematic plans for interchange and widering}
of Foothill Boulevard between Interstate 15 and Day Creek
These plans will be presented to the City Staff for tl.eir
review. A final 200 -scale schematic plan will be prepared
incorporating staff comi,ents and suggestions for the presen-
tation to CalTrans.
IV Prepare 50 -scale design based on 200 -scale schematic sub-
mitted to Callrans. The design will define the limits of all
basic geometric controls Including typical sections, storage
lanes, traffic islands, median locatior, and tapers, and
traffic lane transition limits
At the completion of the 50 -ste7e design, a construction
cost estimate will be prepared included in the estimate
will be
A Utility Reloca•I ^ns
' B Rarp Nodifica . and New Ranps
l C Retaining Wails, if Pequired
D. Drainage Facilities
E. Grading
F Traffic Signals d Signs
G Foothill Boulnard Widening
N Median Modifications
I. R1gh• of -Hay clearance
Lr
V Prepare Plat for new right -of -way acquisition These plats
will del late the property to be acquired from each Impacted
plrcel. The drawings will be prepared by scale dimensions
OPROPOSAL FOR ENGINEERING SERVICES
CITY OF RANCHO CUCANONGA
PAGE SIX
VI Participate in Conferences and Meet4igs
A. Two inceti..gs with City Staff
B. Two meetings with CalTrans
Shou , additional meetings be required, they will be billed
on a time and material basis per the attached Fee Schedule.
�
�-
!
!
;
!
,
I
(
!
}
I
■ �
�
\
k\ \\ \
,
2
E
0
PSOMAS &
A�[�/'�/'��/� [�
SSOCIATES
J470QCFANPARk &VD.SANAMON(gGgpseSNCN£ U /4OYAI
LwAVAUAReeo AVF cosrn t.¢s,�Gne26. v1ane n,nn23
�31 WL SXiHE�$TE 265 OWN A q GOV 7 0NE7 CG0.S2 W
OFFICE
PERSONNEL
FIELD
PERSONNEL
SPECIAL
EOUIPMENt
AND OTHER
COSTS
NOTE
FEE SCHEDULE -
CIVIL ENGINEERING • LAND TANNING • LAND SURVEYING
Leecrn649Wl I"2tfru J,r 317953
$85 00 per hour for smvtces of pr(ncipob
S65 00 per hour for soMces of assactates
$60 00 per hour fa scrvIces of project manogors
$5600 per hour for sernaos of u planners. designers or suNe yon
$52 00 per hou• (pr s,ml,03 Of plaMen. dOslgners or surveym
S46 00 per hour for wN,cos of out pionnon, designon or survoyoa
$42 00 pot hour for services of dxbn drafts pehom
S:•6 00 pot hour for somcm of drafts persons •
S59 DO per hou far WMCes of savoy apeMSOr
510500 per hour for two-man survey party
5137 00 per hqa for th eO -mrys arvoy party
$56 00 Per day for efoclronlc distance moasuring egsnpmonf
53000 per hour for computer Time
S 50 per mde for survey iMCks
S 30 per nine for ofhef Vehialos
P(MIS messehOvf Serv)Co. subustence Olt tIM01. and Othor deect osPjnrrrs Wiry be chctged at
cost The mmices of OuIPOA consultants veil be charger at cost plus sfteen percent.
fs• m rznemis n b It /ygrj I" OQae W W 0+ 990 el 135% or fro stP o f ,e, tOtM 51/Vol old
fwaovn w I» r MI" W 170%drns vopmk cj hotrN,orx
r'
OPROPOSAL FOR ENGINEERING SERVICES
• •�.R, CITY Of RANCHO CUCNaONGA
s PAGE SEVEN
DECENB P. 20, 1902
EXHIBIT "B"
PROFESSIONAL COMPENSATION
PSc ;.ms and Associates will provide the services as described in
Exhibit "A" on a fixed fee basis Fees shall to billed and paid
monthly as work progresses on the basis of percent complete
I Project Nork Program. .. .. ... .S 2,400
It Traffic Engineering (Stage I Work Program
and Final Design) .. . ... $ 5,700
III Alternate Solutions (200 -Scale Plans). S 2,400
IV Detail Geometric Design of Selected Alternate
• (SO -Scale Plans) .. .. . . __. .. .$ 9,500
V Plats for Right -of -Ray Acquisition S 400
US
TOTAL COSTS . $20,400
fnci ential •.orvices or extra 'cork not specified in Exhibit "A"
shall to Paid by the Client on a time and uatcrfa% basis per
the a0achei: Fee Schedule