MARBELLA RANCH GUARANTY PERFORMANCE PARCEL 2.PDF

When Recorded Return To:
Maricopa County Planning and Development Department
501 North 44th Street, Suite 200
Phoenix, Arizona 85008
Attention: Darren Gerard
Maricopa County Department of Transportation
2901 West Durango Street
Phoenix, Arizona 85009
Attention: Michele Kogl
GUARANTY OF PERFORMANCE
(Marbella Ranch Parcel 2 Phase 1)
Date: The date of this GUARANTY OF PERFORMANCE (the "GUARANTY") is July 19, 2017.
Parties: The parties to this Guaranty are as follows:
Marbella Ranch Limited Partnership, a Delaware Limited Partnership ("Principal");
and
KB HOME PHOENIX INC., an Arizona corporation ("Surety");
and
Maricopa County, a political subdivision of the State of Arizona ("Beneficiary").
RECITALS
WHEREAS, Principal holds fee title to certain real property approximately depicted on Exhibit A,
which property is commonly known as Marbella Ranch; and
WHEREAS, Surety is under contract to purchase a portion of property within Marbella Ranch as
described on Exhibit B ("Property"); and
WHEREAS, Principal now seeks subdivision plat approval for the final plat of the Property (the
"Final Plat"); and
2355.377.1131076.6

WHEREAS, A.R.S. §11-821(C) requires that the subdivision regulations of Beneficiary condition
subdivision plat approval on the developer providing "assurances or such other security as may
be appropriate and necessary to ensure the installation of required street, sewer, electric and
water utilities, drainage, flood control and improvements meeting established minimum
standards of design and construction:" and
WHEREAS, A.R.S. §11-822 provides that no subdivision plat may be recorded until approved by
the board of supervisors and that "approval of the board shall be endorsed in writing on the
plat and shall also include specific identification and approval of the assurances:" and
WHEREAS, this Guaranty is being offered to satisfy the statutory requirement for assurance
that "required street, sewer, electric and water utilities, drainage, flood control and
improvements meeting established minimum standards of design and construction:" are
ensured.
NOW, THEREFORE, in consideration of the above premises and the mutual covenants,
agreements and guarantees contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Obligation to Install. Principal shall install, pursuant to appropriate permits and to
all applicable standards established by Beneficiary, all improvements as depicted on
the Final Plat for the Property (the "Onsite Improvements").
2. Assurance of Performance. Pursuant to Chapter 3, Section 304 of the Subdivision
Regulations for the Unincorporated Area of Maricopa County, in the event Principal
shall fail, by November 30, 2017 (the "Expiration Date"), to install all Onsite
Improvements as provided in paragraph 1 above, then and in such event, Surety
shall, by the Expiration Date, either (i) install all such Onsite Improvements; or
(ii) provide financial assurance or assurances of performance of the obligation to
install the Onsite Improvements, said assurance or assurances to be provided in
cash, bond or letter of credit and in a form reasonably acceptable to Beneficiary and
as further provided in Chapter 2, Section 203.2(i) of the Subdivision Regulations for
the Unincorporated Area of Maricopa County ("Substitute Assurance").
3. This Guaranty shall remain in full force and effect, and shall not be subject to
cancellation either by the Principal or by the Surety, until the earlier of the
Expiration Date or until a Substitute Assurance has been provided to Beneficiary.
Upon the Expiration Date or Beneficiary's receipt of the Substitute Assurance, this
Guaranty shall automatically terminate. In addition, and notwithstanding anything
in this Guaranty to the contrary, if the Maricopa County Board of Supervisors has not
approved the Final Plat by September 29, 2017, the Principal shall withdraw its
application for approval of the Final Plat and this Guaranty shall automatically
terminate.
2355.377.1131076.6 2

4. This Guaranty will allow approval of the Final Plat by the Maricopa County Board of
Supervisors; provided all requirements applicable to subdivision plats for property
located in unincorporated Maricopa County have been satisfied. However, in no
event shall the Final Plat for the Property be recorded unless and until this Guaranty
shall have been replaced with the Substitute Assurance.
5. In the event that either (i) the Onsite Improvements have not been installed by the
Expiration Date; or (ii) the Substitute Assurance has not been provided to Beneficiary
by the Expiration Date, then and in such event, and as Beneficiary's and Principal's
sole and exclusive remedy, the Maricopa County Board of Supervisors' approval of
the Final Plat shall, by its terms, be null and void and of no further effect. Except as
expressly provided in this paragraph, Beneficiary and Principal hereby waive all
remedies at law or in equity that they have or may have against Surety or the
Property arising from or related to this Guaranty or Surety's failure, by the
Expiration Date, to either install the Onsite Improvements or to provide the
Substitute Assurance.
6. This Guaranty shall inure to the benefit of Beneficiary only and no other party shall
acquire any rights hereunder.
7. The provisions and exhibits of this Guaranty shall be construed as a whole consistent
with their plain meaning and intent, and they shall not be construed against one
party or another based upon which party prepared or influenced the drafting of any
provision or exhibit of this Guaranty.
8. This Guaranty, together with any exhibits attached hereto, constitutes the entire
contract and agreement between the parties with respect to the subject matter
hereof. All terms, conditions, representations, warranties, understandings and
interpretations regarding the subject matter hereof contained in any other written
or oral communications between the parties are superseded hereby.
2355.377.1131075.6

IN WITNESS WHEREOF, the parties have executed this Guaranty as of the date set forth
above.
PRINCIPAL:
Marbella Ranch Limited Partnership,
a Delaware Limited Partnership
By: frcl
Printed Name: ,6),/ 0 1 76-
Title: 6 e 4 e / 176 t-tri 9
STATE OF ARIZONA )
) 55-
County of Maricopa )
On this /4 day i of ch/ ty. , 20 L. me personally appeared
4 4 iv t" , the 6e462,- / of
Marbella Ranch Limited Partnership, a Delaware Limited Partnership, for and on behalf
thereof, whose identity was proven to me on the basis of satisfactory evidence to be the person
who he or she claims to be, and acknowledged that he or she signed the above/attached
document.
Public
441_1 DANIEL JOHNSON
NOTARY PUBLIC — ARIZONA
MARICOPA COUNTY
My Commission Expires
November 11,2017
2355.377.1131076.5 4 7/10/2017

SURETY:
KB HOME PHOENIX INC., an Arizona corporation
By: K\- --
Printed Name: cisR.15 14.1-0611A1itK
Title: V? Flmiakica
STATE OF ARIZONA )
) ss.
County of Maricopa )
On this n day of ---1 U-L'../ , 20 fl, before me personally appeared
CY) riS IcItx-i-wy K i , the VP, riet.nCt_ of KB
HOME PHOENIX INC., hn Arizona corporation, for and on behalf thereof, whose identity was
proven to me on the basis of satisfactory evidence to be the person who he or she claims to be,
and acknowledged that he or she signed the above/attached document.
NICOLE CONNER
Notary Public. State of Arizona --n-L-Lat.A.AlkA.,u-)
MARICOPA COUNTY
My Commission Expires Notary Public
March 18. 2018
2355.377.1131076.5 5 7/10/2017

Accepted and approved for Maricopa County
By
Chairman, Board of Supervisors
Attest:
By
Clerk of the Maricopa County Board of Supervisors
Approved as t9ydrrill/
Deputy County Attorney
STATE OF ARIZONA )
) ss.
County of Maricopa )
On this day of , 20 , before me personally appeared
, the Chairman of the Board of Supervisors of
Maricopa County, for and on behalf thereof, whose identity was proven to me on the basis of
satisfactory evidence to be the person who he or she claims to be, and acknowledged that he or
she signed the above/attached document.
Notary Public
3969.73,1131077.7 7

Exhibit A
Marbella Ranch
NORTHERN AVENUE
Fr-
MARBELLA RANCH
180± AC
DYSART DRAIN
713
PARCEL 3 PARCEL 4
30.8± AC 34.8± AC DV/111A1
CIVO
PARCEL 2-2
17.5± AC
PARCEL 1
41.6± AC
PARCEL 2-1
223± AC
GLENDALE AVENUE
r-j Overall Scale: Exhibit NTS Epp 2045 '12,101 5, VE,Ea, ',,,ina'ea 1,703210 Nve,
1I4 Marbella Ranch 1:Aar,1:1211,2293p:4020.7,22`,1 wvIIss.,erpr.proupl nC. EOM
2355.377.1131076.6 7

Exhibit B
Parcel 2 Phase 1
4,EPS
GROUP
Legal Description
Marbella Ranch Parcel 2
Phase I
Job No. 16-024 May 22, 2017
A portion of the southeast quarter of Section 2, Township 2 North, Range 1 West
of the Gila and Salt River Meridian, more particularly described as follows:
BEGINNING at a brass cap flush marking the south quarter-corner of said Section
2, from which a brass cap in handhole marking the southeast corner of said
Section 2 bears South 89 degrees 03 minutes 02 seconds east, 2,606.75 feet;
thence North 0 degrees 57 minutes 19 seconds East, 399,93 feet to a 1/2" rebar
with cap "EPS GROUP RLS 42937";
thence North 0 degrees 31 minutes 50 seconds West, 293.99 feet;
thence North 89 degrees 28 minutes 10 seconds East, 60.00 feet;
thence South 0 degrees 31 minutes 50 seconds East, 10.00 feet;
thence North 89 degrees 28 minutes 10 seconds East, 117.32 feet to the
beginning of a non-tangent curve, concave Northwest, from which the radius
point bears North 60 degrees 31 minutes 50 seconds West a distance of 20.00
feet;
thence Northeasterly 10.47 feet along the arc of said curve to the left through a
central angle of 30 degrees 00 minutes 00 seconds;
EPS Group, Inc. • 2045S. Vineyard, Suite 101 • Mesa, AZ 85210
Tel (480) 503-2250 • Fax (480) 503-2258
SAProjeds\2016 \16 -024 \Legal SurveyWegals\16 -024_PHASE 1,docx
2355.377.1131076.6 8

,vEPS
GROUP
thence on a non-tangent line North 89 degrees 28 minutes 10 seconds East,
50.00 feet;
thence North 0 degrees 31 minutes 50 seconds West, 97.39 feet;
thence South 89 degrees 03 minutes 02 seconds East, 370.00 feet;
thence North 0 degrees 56 minutes 58 seconds East, 127.11 feet to the beginning
of a non-tangent curve, concave Northerly, from which the radius point bears
North 2 degrees 58 minutes 44 seconds West a distance of 3025.00 feet;
thence Easterly 39.66 feet along the arc of said curve to the left through a central
angle of 0 degrees 45 minutes 04 seconds to a point of reverse curvature of a
curve having a radius of 2975.00 feet;
thence Easterly 13.78 feet along the arc of said curve to the right through a
central angle of 0 degrees 15 minutes 56 seconds;
thence on a non-tangent line South 0 degrees 56 minutes 58 seconds West,
121.19 feet;
thence South 89 degrees 03 minutes 02 seconds East, 90.00 feet;
thence North 0 degrees 56 minutes 58 seconds East, 6.03 feet;
thence South 89 degrees 03 minutes 02 seconds East, 90.00 feet;
thence North 0 degrees 56 minutes 58 seconds East, 3.30 feet;
thence South 89 degrees 03 minutes 02 seconds East, 239.90 feet;
thence South 1 degrees 22 minutes 23 seconds East, 54.67 feet;
thence North 88 degrees 37 minutes 37 seconds East, 50.00 feet to the beginning
of a non-tangent curve, concave Northeast, from which the radius point bears
North 88 degrees 37 minutes 37 seconds East a distance of 20.00 feet;
thence Southeasterly 10.47 feet along the arc of said curve to the left through a
central angle of 30 degrees 00 minutes 00 seconds;
thence on a non-tangent line North 88 degrees 37 minutes 37 seconds East,
117.32 feet;
EPS Group, Inc. • 2045 S. Vineyard, Suite 101 • Mesa, AZ 85210
Tel (480) 503-2250 • Fax (480) 503-2258
SAProjects\ 2016 \16-024\Legal Survey\Legals\16-024_PHASE 1.docx
2355.377.1131076.6 9

EPS
GROUP
thence South 1 degrees 22 minutes 23 seconds East, 759,33 feet to a point on
the south line of said southeast quarter, said point being marked by a PK nail with
shiner "THOMAS ROPE LS 21081";
thence North 89 degrees 03 minutes 02 seconds West along said south line,
1266.31 feet to the POINT OF BEGINNING.
An area containing 981,502 square feet or 22.5322 acres, more or less.
EPS Group, Inc. • 2045 S. Vineyard, Suite 101 • Mesa, AZ 85210
Tel (480) 503-2250 • Fax (480) 503-2258
S:\Projects\2016\15 -024\Legal Survey\Legals\16 -024_PHASE 1.docx
2355.377.1131076.6 10

2
44' OF EPS
1340 . I www.epsgroupinc.com 11rGROUP
_
R1W 2 CORNER R W
EN-CORNER 12N, HANDHOLE SOUTHEAST SECTION 12N, HANDHOLE
2,
2, IN L15 L16 THE OF SOUTHEAST SECTION CAP IN 2606.75'
QUAR SECTION CAP CAP_ 42937" 638.94' OF QUARTER
EAST BRASS YOH C4 UNE 759.33' BRASS 2
FOUND RLS '22'23"E L13 L14 EAST FOUND SECTION 589'03'02'E
REBAR GROUP Si L12 OF OF
SET "EPS L10 .22.23"E 21081" LINE SOUTHEAST
S1 SHINER SOUTH QUARTER AVENUE 2
LS THE
1235.36' WITH ROPE - PARCEL
2 1 NAIL jr 2017
PHASE C3 PHASE PK "THOMAS RANCH 1
S89.03'02"E C2 FOUND GLENDALE PHASE 22,
CAP 42937" 1266.31' MAY
CAP 42937" 1_6 WITH RLS MARBELLA
WITH RLS LINE 703.54' 293.99' REBAR GROUP R1W FLUSH
REBAR GROUP SET r "EPS QUARTER-CORNER T2N, CAP 400
4" NORTH-SOUTH MID-SECTION 50"W NO*31'50"W 2, BRASS feet
SET "EPS r NO.3 P.O.B. SOUTH SECTION FOUND
L....47.1 200
0
2.00 scale
9'9LOIETI'LLE'SSEZ

2
OF EPS GROUP
BRG 2 www.epsgroupinc.corn .1411r
CHORD 1\114'2810"E N8638'44"E S862410W S16'22'23"E
)
CHORD 10.35 39.66' 13.78 10.35'
TANGENT 5.36' 19.83' 6.89' 5.36'
TABLE
CURVE DELTA 30'00'00 045'04" 015'56" 30'00'00"
RADIUS 2100' 3025.00' 2975.00' 20.00' 2
PARCEL
LEN GM 10.47' 39.66' 13.78' 10.47' 1 2017
RANCH PHASE 22
CURVE Cl C2 C3 C4 MAY
MARBELLA
LENGTH 60.00' 10.00' 117.32' 50.00' 97.39' 370.00' 127.11' 121.19' 90.00' 6.03' 90.00' 3.30' 239.90' 54.67' 50.00' 117.32'
TABLE E
LINE BEARING N89'28'101 S00'31'50"E N892810E N89'2810"E N00'31'50'111/ S89'03'02"E N0056'581 S00'56'58"W 589'03'02E 00'56'58" S89'03'02"E N00'56'581 S89'03'02"E SO1'22'23"E N88'37'37"E N88'37'37E
N
LINE Li L2 L3 L4 L5 L6 L7 L8 L9 L10 1:11 L12 L13 L14 L15 L16
71- (N 0 kiS .-1
d -
'LLVSSE2 9'9LOIEIT