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HomeMy WebLinkAboutPM 2002-17 - Agreement/Covenant - 8/11/2006 fi CONFORMED COPY When Recorded Mail To: City Clerk 0612512003,20030145389 City of Fresno 2600 Fresno Street Fresno, CA 93721-3603 NO FEE-GOVERNMENT CODE 6103 CITY of FRESNO Public Works Department P.W. File No. 5494-0217 PARCEL MAP AGREEMENT No. 2002-17 THIS AGREEMENT is made this lS-e day of ,2003, by and between the City of Fresno, a Municipal Corporation, hereinafter referred to as"City,"and, Guy Stockbridge Family Limited Partnership, a Nevada Limited Partnership, hereinafter referred to as "Subdivider" without regard for number or Gender. RECITALS A. The Subdivider has filed with the City, a Parcel Map which proposes the subdivision of land owned by Subdivider, situated in the City of Fresno, County of Fresno, State of California, dividing the real property more particularly described as follows: Parcel A , Parcel B and Outlot "A°, of Parcel Map No. 2002-17 as recorded in Book of Parcel Maps at Page(s) , Fresno County Records. r , Parcel Map Agreement No. 2002-17 Page 2 B. The City requires, as a condition precedent to the acceptance and approval of said Parcel Map, the dedication of streets, highways, public places and easements as are delineated on the Parcel Map, and deems such dedications as necessary for the public use; and, requires the construction of improvements of the streets delineated on the Parcel Map. C. Section 12-1206 of the Fresno Municipal Code requires the Subdivider to either construct or enter into an Agreement whereby Subdivider agrees to perform and complete the work and improvements required as Conditions of Approval for Tentative Parcel Map No.2002-17 dated October 31,2002 issued by the City and any amendments thereto (hereinafter referred to as Conditions of Approval and incorporated into this agreement by this reference), in consideration of the approval of the Parcel Map for recording. AGREEMENT In consideration of the approval of said Parcel Map for filing and recording as provided and required by law, it is mutually agreed and understood by and between the Subdivider and City, and the Subdivider and City do hereby mutually agree as follows: 1. The Subdivider shall perform the work and improvements at the time a permit or other grant of approval for development of the parcel is issued by the City or before November 11, 2004, whichever occurs first, unless prior to this date of performance an extension of time is approved by the Public Works Director. Parcel Map Agreement No. 2002-17 Page 3 2. Prior to the commencement of the work, the Subdivider shall submit engineered construction plans to the City Engineer for review and approval. The cost to prepare and process such plans, and the inspection of such work, shall be the responsibility of the Subdivider. The work shall be performed and inspected under a Street Work Permit issued by the Public Works Department pursuant to such approved construction plans,. 3. All of the work and improvements and materials shall be performed, installed, and provided in accordance with the City of Fresno Standard Specifications, adopted September 11, 1984 by Resolution No. 84-361 and any amendments thereto, hereinafter referred to as the "Standard Specifications," which are incorporated herein as though set forth in full. All of said work and improvements shall also comply with the requirements of Chapter 12, Articles 10 and 12 of the Fresno Municipal Code. In situations where there are no Standard Specifications for an item of work, it is agreed that such work shall be performed in accordance with the standards and specifications of the State of California, Department of Transportation as determined by the City Engineer. 4. The work and improvements are stipulated in the Conditions of Approval and include the following: a. All utility systems shall be installed underground. Subdivider's attention is directed to the installation of street lights in accordance with Resolution No. 68-187 and Resolution No. 78-522. The Subdivider shall construct a complete underground street light system as approved by the Traffic Engineer prior to final acceptance of the parcel map. Height, type, spacing, etc., of standards and luminaries shall be in accordance with Resolution No. 78-522 and shall be approved by the City Engineer. Parcel Map Agreement No. 2002-17 Page 4 b. Water main extensions and services shall be provided in accordance with applicable provisions of Chapter 14, Article 1 of the Fresno Municipal Code and all applicable charges shall apply. C. Sanitary sewer extensions and services shall be provided in accordance with applicable provisions of Chapter 9, Article 5 of the Fresno Municipal Code and all applicable charges shall apply. d. Lot drainage shall be in accordance with Section 13-120.3315 of the Fresno Municipal Code. e, The improvements are more particularly itemized in Exhibit A, attached hereto and made a part of this Agreement. 5. Prior to the approval of the Parcel Map by the City, the Subdivider shall furnish to the City the following securities in the amounts itemized in said Exhibit A. Bonds shall be by one or more duly authorized corporate sureties subject to the approval of the City and on forms furnished by the City. a. PERFORMANCE SECURITY. Total amount to equal 100% of the Final Cost Estimate to be conditioned upon the faithful performance of this agreement. i. 95% of the Final Cost Estimate shall be in the form of a bond or irrevocable instrument of credit; and ii. 5% of the Final Cost Estimate shall be in cash or a certificate of deposit. b. PAYMENT SECURITY. Total amount to equal 50%of the Final Cost Estimate to secure payment to all contractors and subcontractors performing work on said improvements and all persons furnishing labor, materials, or equipment to them for said improvements. Payment Security shall be in the form of a bond or irrevocable instrument of credit. Parcel Map Agreement No. 2002-17 Page 5 6. Prior to the approval of the Parcel Map by the City, the Subdivider shall pay to the City and/or execute a covenant to defer certain impact fees due which are eligible to be deferred by relevant FMC provisions, the total fees and charges due as a condition of Parcel Map approval. The total fees and charges are more particularly itemized in Exhibit B, attached hereto and made a part of this Agreement. 7. Upon acceptance of the required work by the City Engineer, a warranty security shall be furnished to or retained by City in the minimum amount identified in said Exhibit A, for guarantee and warranty of the work for a period of one (1) year following acceptance against any defective work or labor done or defective materials furnished. In accordance with Section 12-1016 of the Fresno Municipal Code, said warranty security shall be in the form of cash or a certificate of deposit. The warranty security shall be returned to the Subdivider, less any amount required to be used for fulfillment of the warranty one (1) year after final acceptance of the subdivision improvement. 8. The Subdivider and his contractor and subcontractors shall pay for any materials, provisions, provender, and other supplies or terms used in, upon, for, or about the performance of the work contracted to be done and for any work or labor thereon of any kind and for amounts due under the Unemployment Insurance Act of the State of California with respect to such work or labor and shall file with City pursuant to Section 3800 of the Labor Code a Certificate of Workers Compensation and shall maintain a valid policy of Workers Compensation Insurance for the duration of the period of construction. Parcel Map Agreement No. 2002-17 Page 6 9. The City shall not be liable to the Subdivider or to any other person, firm or corporation whatsoever,for any injury or damage that may result to any person or property by or from any cause whatsoever in, on or about the subdivision of said land covered by this Agreement, or any part thereof. The Subdivider hereby releases and agrees to indemnify, defend and save the City harmless from and against any and all personal injuries to and deaths of persons and property damage, and all claims demands, costs, loss, damage,and liability, howsoever same may be caused, resulting directly or indirectly from the performance of any or all work and improvements to be done in and upon the street rights-of-way in the subdivision or upon the premises adjacent thereto pursuant to this Agreement, and also from all injuries to and deaths of persons, and all claims, demands, costs, liability, loss, damage, howsoever caused, either directly or indirectly made or suffered by the Subdivider, or his agents, employees and subcontractors, in connection with the work and improvements required by this Agreement. The Subdivider further agrees that the use for any purpose and by any person of any of the streets, work or improvements specified in or required by this Agreement or the Parcel Map, shall be at the sole and exclusive risk of the Subdivider at all times prior to the final acceptance of the work and improvements by the City. 10. Initial compaction and soil tests of street, sewer, and other work within the public right-of-way shall be ordered by and paid for by City. Sewer and utility trench tests shall be taken in varying locations and depths as required by the City Engineer. Compaction tests failing to meet City's requirements shall be recorded by City from the same testing laboratory. Billing for the required retests shall be made directly to the Subdivider or his agent for payment. Compaction test for water facilities installed by City shall be paid for by City. Parcel Map Agreement No. 2002-17 Page 7 11. Subdivider shall comply with the provisions of the prevailing Building, Plumbing, Mechanical, Electrical and Zoning Codes and any other Codes of the City. 12. It shall be the responsibility of the Subdivider to coordinate all work done by his contractors and subcontractors, such as scheduling the sequence of operations and the- determination of _liability if one operation delays another. In no case shall representatives of the City be placed in the position of making decisions that are the responsibility of the Subdivider. It shall further be the responsibility of the Subdivider to give the City Engineer written notice not less than two (2)working days in advance of the actual date on which work is to be started. Failure on the part of the Subdivider to notify the City Engineer may cause delay for which the Subdivider shall be solely responsible. 13. Whenever the Subdivider varies the period during which work is carried on each day, he shall give due notice to the City Engineer so that proper inspection may be provided. Any work done in the absence of the City Engineer will be subject to rejection. The inspection of the work shall not relieve the Subdivider of any of his obligations to fulfill the Agreement as prescribed. Defective work shall be made good and unsuitable materials may be rejected,notwithstanding the fact that such defective work and unsuitable materials have been previously overlooked by the City Engineer and accepted. 14. Any damage to the sewer system,concrete work, or street paving that occurs after installation shall be made good to the satisfaction of the City Engineer by the Subdivider before bonds are released or final acceptance of the work and improvements. Parcel Map Agreement No. 2002-17 Page 8 15. Adequate dust control shall be maintained by the Subdivider on all streets within and without the subdivision on which work is required to be done under this Agreement from the time work is first commenced until the paving of the streets are completed. "Adequate dust control' as used herein shall mean the sprinkling of the - streets with water or the laying of a dust coat of oil thereon with sufficient frequency to- - prevent the scattering of dust by wind or the activity of vehicles and equipment onto any street area or private property adjacent to the subdivision. Whenever in the opinion of the City Engineer adequate dust control is not being maintained on any street or streets as required by this paragraph, the City Engineer shall give notice to the Subdivider to comply with the provisions of this paragraph forthwith. Such notice may be personally served upon the Subdivider or, if the Subdivider is not an individual, upon any person who has signed this agreement on behalf of the Subdivider or, at the election of the City Engineer, such notice may be mailed to the Subdivider at his address on file with the City Engineer. If within 24 hours after such personal service of such notice or within 48 hours after the mailing thereof as herein provided, the Subdivider shall not have commenced to maintain adequate dust control or shall at any time thereafterfail to maintain adequate dust control, the City Engineer may, without further notice of any kind, cause any such street or streets to be sprinkled or oiled, as he may deem advisable to eliminate the scattering of dust, by equipment and personnel of City or by contract as the City Engineer.shall determine, and the Subdivider agrees to pay to City forthwith, upon receipt of billing therefor, the entire cost to City of such sprinkling or oiling. Parcel Map Agreement No. 2002-17 Page 9 When the surfacing on any existing street is disturbed,this surfacing shall be replaced with temporary or permanent surfacing within 14 calendar days, and the roadway shall be maintained in a safe and passable condition at all times between the commencement and final completion, and adequate dust control shall be maintained during these operations. 16. The Subdivider shall install all street improvements in accordance with Section 12-1206 of the Municipal Code of the City of Fresno, the City of Fresno Standard Specifications, and the approved construction plans. 17. Concrete curbs and gutters, the sanitary sewer system and house connections, together with water mains, gas mains, and their respective service connections, shall be completed in the streets and alleys before starting the street and alley surfacing. 18. Time is of the essence of this Agreement. The provisions contained in this Agreement are intended by the parties to run with the land, and the same shall bind and inure to the benefit of the parties hereto, their heirs, successors in interest, and assigns. 19. No assignment of this Agreement or of any duty or obligation of performance hereunder shall be made in whole or in part by the Subdivider without the written consent of the City. H Parcel Map Agreement No. 2002-17 Page 10 The parties have executed this Agreement on the day and year first above written. CITY OF FRESNO, SUBDIVIDER a Municipal Corporation Jon R. Ruiz, Director Guy Stockbridge Family Limited Partnership Public Works Department a Nevada Limited Partnership By 4 1� ) By: Guy Stockbridge Family, LLC Michael T. Kim as General Partner Assistant Director Public Works Department Guy Stockbridge , Manager APPROVED AS TO FORM: (Attach Notary Acknowledgments) HILDA CANTO MONTO City Attorney Subdivider's Mailing Address: By Deputy City of Fresno Mailing Address: Public Works Director Public Works Department 2600 Fresno Street. Fresno, CA 93721-3615 ( e- CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT State of County of �QQ�p On41,01 cW9 before me, i Name and Title of Officer(e.g.,"Jane Doe,Notary PubUrM personally appeared CU 6Cl Name(&I of Signer(s) personally known to me -OR- ❑ proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their JILL L JOHNSON signature(s) on the instrument the person(s), or the entity upon V. COMM.#138M m behalf of which the person(s) acted, executed the instrument. W NOWY P&Mk-Ca fornla in FRESNO COUNTY + My CWft Exp.Nov a 2006 1 WITNESS rn ha andofficial eal. Ja_�_ Signature otary Public _---_ -----_-----------OPTI AL-------------------------------------- Though the information below is not required by law,it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: f J4_17dj Document Date: Number of P ges: Signer(s)Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ��y StoC dye Signer's Name: o — B"'Individual ❑ Individual ❑ Corporate Officer ❑ Corporate Officer ❑ Titles(s): ❑ Title(s): ❑ Partner- Limited ❑ General ❑ Partner-❑ Limited ❑ General ❑ Attorney-in-Fact ❑ Attorney-in-Fact ❑ Trustee ❑ Trustee - ElGuardian or Conservator . ElGuardian or Conservator . - ❑ Other: Top of Thumb here ❑ Other: To of Thumb here Signer Is Representing: Signer Is Representing: C�uU S�ockbr�da e FFarni (.Q4, LLQ CLERK'S CERTIFICATION STATE OF CALIFORNIA ) COUNTY OF FRESNO ) CITY OF FRESNO ) On June 20,2003,before me, Elvia Sommerville,Deputy City Clerk,personally appeared, M.T. Kirn,Assistant Public Works Director, known to me(or proved to me on the basis of satisfactory evidence) to be the person(s)whose name(s)are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument(s) the person(s), or the entity upon behalf of the City of Fresno of which the person(s) acted, executed the instrument. WITNESS my hand and official City Seal. REBECCA E. KL/SCH CITY CLERK a• sy Deputy FORM PM Agreement v3/3/2003 by:JB/3/3/2003 EXHIBIT A Parcel Map Agreement No. 2002-17 A. ESTIMATE OF DESCRIPTION AND COST OF THE WORK AND IMPROVEMENTS ESTIMATED ESTIMATED DESCRIPTION QUANTITY UNIT I UNIT COST UNIT EXTENSION Sewer Main Extension 0 Lin Ft $0.00 /Lin Ft $0.00 Sewer Housebranch 2 Each $3,500.00 /Each $7,000.00 Water Main Extension 100 Lin Ft $22.00 /Lin Ft $2 200.00 Water Service 2 Each $1,350.00 /Each $2,700.00 Fire Hydyrant 1 Each $200.00 /Each $200.00 Concrete Curb&Gutter 275 Lin Ft $15.00 /Lin Ft $4,125.00 Roadway Excavation 1 Each $5,700.00 Each $5,700.00 Permanent Pavement 5650 Sq Ft $2.20 /Sq Ft $12,430.00 SUB-TOTAL3 0 10% CONTINGENCY* 3,000. FINAL COST ESTIMATE* $37 000.00 *Amounts rounded to nearest$1000 The work and improvements, quantities and costs are estimates. The actual extent of the work and improvements shall be established by the construction plans approved by the City Engineer. B. IMPROVEMENT SECURITY REQUIREMENTS (due with parcel map agreement) **Amounts rounded to nearest$100 Performance Security (100% of Final Cost Estimate)** 95% of amount shalt be in the form of a bond by duly authorized corporate sureties or irrevocable letter of credit $35 200 5% of amount shall be in cash or a Certificate of Deposit $1,9001 Payment Security (50%of Final Cost Estimate)** 100% of amount shall be in the form of a bond by duly authorized corporate sureties or irrevocable letter of credit $18,5001 C. WARRANTY SECURITY(due as condition of acceptance of the work)** 5% of first$50,000 of the Final Cost Estimate $1,900 3% of next$50,000 $0 1% of next$400,000 $0 0.5% of amount over$500,000 $0 Minimum Amount $1,900 FORM PM Agreement EXHIBIT A v3-3-00 By: Date: Printed 03/03/03 11:41:17 AM Page 1 of 1 EXHIBIT B Parcel Map Agreement No. 2002-17 NET AMOUNT EXTENSION DUE A. MISCELLANEOUS FEES&CHARGES 1. STREET TREES DO Residential(I5-gallon)Street Trees @ $129.00 per Tree na na (Al) (Al) Street Tree fees will be payable at the time of development of each parcel unless otherwise determined by the Park Division. 2. STREET RIGHTS OF WAY ACQUISITION/CONSTRUCTION CHARGE per FMC 11-226(f)(6 Lum Sum Charge as established by Public Works Director -nal 3. IRRIGATION PIPELINE(one-time maintenance fee) DO Lineal Feet @ $5.00 per LF na nal B. IMPACT FEES,CONSTRUCTION CREDITS&FEES TO BE DEFERRED 0.6509 Gross Acres 0.6509 Net Acres 0.6509 Adjusted Gross Acres(AG Ac); excludes Area of Arterial&Collector Streets 2 Units(residential) R-1-C Zoning u m Input"ugm"if within the Urban Growth Management Area or"no" 1. LOCAL DRAINAGE FEES CW FMFCD Drainage Area 0.6511 Acres per FMFCD (81 $2060 per Acre $1 341.00 Local Drainage Fee 1 $1, $1 341.00 2. SEWER CONNECTION CHARGES (a)Lateral Sewer Charge Lateral Sewer Charge 15-301 E77 $0.00 (b)Oversize Sewer Charge Oversize Sewer Charge $0.00 (c)Trunk Sewer Charge Hemdon Trunk Sewer Service Area DUnits ® 5496.00 per Unit $992.00 (d)Wastewater Facilities Charge Fee to be paid at the rate in effect at time of issuance of building permit.The fee rate currently in effect is$2,119 per Unit(FMC 9-503-b) (e Sewer Ca 1city Enhancement Charge na Trunk Sewer Service Area r� 2 Units @ $0.00 per Unit 1 $0.00 3. WATER CONNECTION CHARGES (a)Time&Material Charges("Wet-Tie') Estimated Deposit(FMC 14-1114) (b1)Service Connection Charges Services and Meters to be paid for and Installed at the time of Building Permit Issuance. (c)Frontage Charge Frontage Charge $0.00 $0.00 FORM PM Agreement EXHIBIT B v3r3100 By Dale: Printed 02/21103 9:03:44 AM Pape 1 of 3 r EXHIBIT B Parcel Map Agreement No. 2002-17 NET AMOUNT EXTENSION DUE (d Fire Brent Charge 27 300 SF;residential zoning @ 50.75 per 100 SF 04. 204. (e)Transmission Grid Main Charge A UGM Reimbursement Area 0.6509 Net Acres @ 5700.00 per Net Ac $455.63 Less EstimatedTGM Construction Credits 50.00 Transmission Grid Main Charge 1 $4.55.631 $455.63 ( Transmission Grid Main Bond Debt Service Charge 0.6509 Net Acres @ $304.00 per Net Ac $197.87 Less EstimatedTGM Bond Debt Service Charge Credits Transmission Grid Main Bond Debt Service Charge 1 $197.87 $197.87 (q)UGM Water Supply Fee 101s Supply Well Service Area 2 Living Units(residential) @ 5397.00 per Unit 5794.00 Less Estimated UGM Water Supply Fee Construction Credits UGM Water Supply Fee 94. 0 $794.00 (h)Well Head Treatment Fee 101 Well Head Treatment Service Area 2 Living Units(residential) @ $0.00 per Unit Less Estimated Well Head Treatment Fee Construction Credits Well Head Treatment Fee $0.00 $0.00 (i)Recharge Fee 101 I Recharge Service Area 2 Living Units(residential) @ $0.00 per Unit Less Estimated Recharge Fee Construction Credits Recharge Fee $0.00 (! 1994 Bond Debt Service Fee 101 1994 Bond Debt Service Fee Service Area 21 Living Units(residential) @ $895.00 per Unit S1 790.00 Less Estimated 1994 Bond Debt Service Fee Construction Credits 1994 Bond Debt Service Fee 1 11,7 $1,790. 4. URBAN GROWTH MANAGEMENT(UGM)FEES&CONSTRUCTION CREDITS (a UG�TATI to FEE 13 Fire Station Service Area 0.6509 Gross Acres @ $251.00 per Gr Acre $163.38 $163.38 (b UG�BORHOOD PARK FEE 1 Neighborhood Park Service Area 0.6509 Gross Acres @ 5485.00 per Gr Acre $315.69 315.69 (c)UGM MAJOR STREET CHARGE A Major Street Zone 0.6509 Adjusted Gross Acres @ $2 150.00 per AG Ac $1 399.44 Less Estimated Major Street Charge Construction Credits Major Street Charge 1 $1.3; $1,399.441 FORM PM Agreement EXHIBIT 8 x/3/9100 By: Dale: Printed 02/21/03 9:03:44 AM Page 2 or 3 EXHIBIT B Parcel Map Agreement No. 2002-17 NET AMOUNT EXTENSION DUE (dJ UGM MAJOR STREET BRIDGE CHARGE A Major Street Bridge Zone 0.6509 Adjusted Gross Acres @ $20.00 per AG Ac $13.02 Less Estimated Major Street Bridge Charge Construction Credits Major Street Bridge Charge 1 .0 $13.02 (e)UGM TRAFFIC SIGNAL CHARGE 0.6509 Adjusted Gross Acres @ $860.00 per AG Ac $559.77 Less Estimated Traffic Signal Charge Construction Credits Traffic Signal Charge $559.771 $559.77 (111 UGM GRADE SEPARATION CHARGE Grade Separation Service Area 0.6509 Adjusted Gross Acres @ $0.00 per AG Ac Less Estimated Grade Separation Charge Construction Credits Grade Separation Charge 0.0 $0.00 ( UGM TRUNK SEWER FEE Trunk Sewer Service Area 0.6509 Adjusted Gross Acres @ $0.00 per AG Ac Less Trunk Sewer Fee Credits Trunk Sewer Fee (h OVERLAY SERVICE AREA Millbrook Overlay Service Area 0.6509 Adjusted Gross Acres @ $0.00 per AG Ac 5. POLICE SUBSTATION FEE Informational Only This Fee Due NRth Issuance of Building Permits Northeast Fresno Service Area �=J Residential Living Units @ $85.00 per Unit Total Impact Fees&Charges $8,226.55 $8,226.55 SUMMARY TOTAL(A) MISCELLANEOUS FEES&CHARGES TOTAL(B) IMPACT FEES&CHARGES $8,226,551 TOTAL FEES and CHARGES DUE WITH PARCEL MAP AGREEMENT cash $8,226.55 FORM PM Agreement EXHIBIT B v3/3100 By. Date: Printed 02/21/03 9:03:44 AM Page 3 of 3 City of Fresno Security Deposit Form To: Finance Department- Accounting Division From: Elizabeth Ponce - Public Works Department X CD Passbook Other Deposited At: United States Fidelity and Guaranty Company, Certificate/Acct. No: SW3170 Deposit Amount: $18,500.00 Maturity Date: Depositor: Name: Stockbridge Development, Inc. Address: 10680 White Rock Rd Suite 400,Rancho Cordova, CA 95670 Street City/State Zip Job Address: PM 2002-17 -,/, Received By: Elizabeth nee� Public Works Engineering Date: July 30, 2003 Authorization to Release Signature Date Release To: Name: Address: Street city/State Zip R t r r i Bond Number: SW3170 Premium:*Included in conjunction with Performance Elond $UBDIVIDER'S PAYMENT (Parcel Map Agreement) WHEREAS, the City Council of the City of Ff6sno, State of California, and sTOCIMIDM DEVELOPMENT, INC. (hereinafter designated as"principal")have entered into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, dated Apri 1 1 ' , 20 03 and Identified as project Parcel Nap Agreement No. 2002-17, Parcel A, Parcel B and Outlot "A" Is hereby referred to and made a part hereof, and, WHEREAS, undet the terms of said agreement, principal is.required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of Fresno to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. NOW,THEREFORE,said principal and the undersigned as corporate surety,are held firmly bound unto the City of Fresno and all contractors, subcontractors, laborers, material men and other persons employed in the performance of the aforesaid agreement and referred to In the aforesaid Code of Civil Procedure in the sum of ******EIGHTEEN THOUSAND FIVE HUNDRED AND nol100****** dollars ($ **18,500.00** ), for materials furnished or labor thereon of any kind, or for amounts due the Unemployment insurance Act with respect to such work or labor, that said surety will pay the same in an amount not exceeding the amount herein above set forth,and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable attorney's fees, incurred by City in successfully enforcing such obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgement therein rendered. It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies and corporations entitled to file claims under Title 15 (commencing with Section 3082)of Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond. Should the condition of this bond be fully performed, then this obligation shall become null and void, otherwise it shall be and remain in full force and effect. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of said agreement or the specifications accompanying the same shall in any manner affect its obligations on this bond, and it does hereby waive notice of any such change, extension, alteration or addition. � f Premium: $704.00 FAITHFUL PERF0.RI'1IIANCE.BOND (Subdivision Agreement) WHEREAS, the City Council of the City of Fresno, State of California, and STOCKBRIDGE DEVELOPMENT, INC. (herein designated as"principal")have entered into an agreement whereby principal agrees to install and complete certain designated public improvements, -which said agreement, dated April 1 20 03 and ! identified as project Parcel Map Agreement No. 2002-17, Parcel A, Parcel B and Outlot "A" f Is hereby referred to and made a part hereof; and, WHEREAS, said principal is required under the terms of said agreement to furnlsh a bond for the faithful performance of said agreement. 1 NOW, THEREFORE, we, the principal and UNITED STATES FIDELITY AND GUARANTY COWANYas surety, are held and firmly bound unto the City of Fresno, (hereinafter called "City"), in the penal sum of ***THIRTY TWO THOUSAND FIVE HUNDRED AND no/100**** ; dollars ($ ****32,500.00**** ) lawful money of the United States, for the payment of which sum well and truly be made,we bind ourselves,our heirs, successors, executors and administrators, jointly and severalty, firmly by these presents. The condition of this obligation is such that if the above bounded principal, his or it's heirs, executors, administrators,successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and provisions in the said agreement and any alteration thereof made as therein provided, on his or their part, to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless the City, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect. l As part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgement rendered. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the agreement or to the work to be performed thereunder or the specifications accompanying the same shall in anyway affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the agreement or to the work or to the specifications. City of Fresno Security Deposit Form To: Finance Department -Accounting Division From: Elizabeth Ponce - Public Works Department X CD Passbook Other Deposited At: United States Fidelity and Guaranty Company, Certificate/Acct. No: SW3170 Deposit Amount: $32,500.00 Maturity Date: Depositor: Name: Stockbridge Development, Inc. Address: 10680 White Rock Rd Suite 400,Rancho Cordova, CA 95670 Street City/State Zip Job Address: PM 2002-17 .� -A Z Received By: Elizabeth once Public Works Engineering Date: July 30, 2003 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip x t K , � k � > 8 d`.s>• R- rt v v. ttfn T T