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Home My WebLink AboutPM 2006-32 - Cashier Memo - 5/30/2008 city of 1w 1c" i1 !jN'►' } DATE: November 21, 2007 TO: Rase Saldivar ' Public Works Department � cls FROM: PATRICIA DI F' Planning& Development Department, Building and safety services Division SUBJECT: SUBMITTAL OF SECURITIES FOR PARCEL MAP NO. 2006-32. ATTACHED PLEASE FIND THE FOLLOWING I"T' s FOR PARCEL MAP NO. 2006-329 1, Letter of Credit for the Performance Security 2. Letter of Credit for the Payment security If you have any questions please contact me at 621-8072. Thank You, Patricia Diep i0 2007 G)TY OF FRESNO .............................................. ..................... City of DATE. November 15, 2007 TO: Rose Saldivar Public Works Department FROM: PATRICIA DIED Planning & Development Department, Building and Safety Services Division S B ECTa SUBMITTAL CP SECURITIES FOR PARCEL MAP NO. 2006-32, ATTACHED PLEASE FIND THE FOLLOWING G ITEMS FOR PARCEL MAP NO, 2006-32° 1, Credit Card in the amount of5 Ott°17 �_ 01� 2° Copy of the Subdivisions Agreement for Parcel Map No. 2006-32. 1 Copy of the Letter of Credit for the Performance Security 4, Copy of the Letter of Credit for the Payment Security The total charges are more particularly itemized in Exhibit "A"and Exhibit"B" of the Subdivision Agreement. If you have any questions please contact me at 621-8072. Thank You, Patricia liep Finance Control No. City of Fresno Security Deposit Form To: Finance Department - Accounting Division From: Rose SaIdivar - Public Works Department CD Passbook Other Irrevocable 'Letter of Credit Performa eeettri Deposited t: Wells Fargo Bank, N,A. Certificate/Acct. No: NZS608925 Deposit mount- $40,000.00 Maturity Cate: 11/14/98 Depositor: Name, WG Enterprises & Victoria Karlssen-Knox Address: 759 W Alluvial, Suite 192 Fresno, Ca 93711 Street City/state Zip Job Address: P06- 2 ReceivedBy- Rose Saldivar, Public ks Engineering Cate: 11/19/07 ," suRo l4ee pj.s' art G � ' ¢� r ; -17,e i /,CfV E ML r#t l <nr 7w Authorization to Release Signature Date Release To: Marne: N6 F-AIMRP04-eS- Address: 2S2 I-V, 161-001n, 4Vf-. '6vt7r Ld'Z 9Z7// Street City/state Zip IN ., .- � Pyy.. � '�gF 4.p• 'd� M}M rte. ?`9 �� ON, ;.. 4 g u r „ #+ a yJ -M'I0 Finance Control No. City of Fresno Security Deposit Form To: Finance Department - Accounting Division From: Rose Saldivar - Public Works Department CD—Passbook—Other Irrevocable Letter of Credit=_Payment Security Deposited At: Wells Fargo Bank, N.A. Certificate/Acct, No: 1ZS608928 Deposit Amount.- $21,000.00 Maturity Date: 11/14/08 Depositor: Name: WG Enterprises & Victoria Karlsson-Knox Address, 759 W Alluvial, Suite 102 Fresno, Ca 93711 Street City/state Zip Job Address: Tract PM2006-32 Received By: Rose Saldivar, Public Works Engineering Date: 11/19/07 o lff"4rcrp A'1Z6'0'1A4 Reace_ 7- PeleWx4 dt� A10 tr7r/z 6FLaeoj-r Authorization to Release 7 Signature Date Release To: Name: &-1fqPA1SE'Y Address: UUVIA /LIZ r E.014 (:4 9-7 Street cityistate 71p sn' O 6 O b 4 d d C5 C 06 W Ad N Q (A n 1 S3 N *wU w Ccs N �t : m 8 �- a - - - 4MR` m x zo I W w aaa tae L.s a,p.s w w ww w w w w W w W w w Ga °q �O +l1 1C *SJ lP tO 'aT *d? %0 u? `U `D NO NO Ko 10 io 10 �p .mow G3 i.. t4 tJ h.5 N kV k4 tJ tJ N T.,b N N SJ AS t3 N t..l N N wa wwww w � wwwaww Aa t ea to ca ca to ca tJ cr to t� ra is 0 d to m ego c P , to i� e� tasw: enra a ' ,two WELLS FARGO BANK, N.A. TRADE SERVICES DIVISION - STANDBY LETTER OF CREDIT UNIT One Front Street, 21st Floor, San Francisco, Califbmia 94111 Phone: (800) 798-2815 Option 1. E-Mail: sftrade@wellsfaGo,com Irrevocable Letter of Credit Number NZS608925 Issue Date: November 15, 2007 Beneficiary: City of Fresno 2600 Fresno Street, Room 3065 Fresno, California 93721 Attention: Craig Agabashian RE: Performance Security / WG Enterprises We hereby establish our Irrevocable Letter of Credit No.: NZS608925 in favor of City of Fresno for the account of WG Enterprises,, 759 W. Alluvial, Suite 102, Fresno, Ca 93711 in the amount of US$40,000.00 (Forty Thousand and NO/100 United States Dollars) available with Wells Fargo Bank, N.A., Trade Service Operations, located at One Front Street — 21"' Floor, San Francisco, California 94111, by payment of your draft(s) drawn on us at sight {`Draft") accompanied by your signed and dated statement ("Payment Certificate") worded as follows: "The undersigned, an authorized representative of City of Fresno (the "City"), hereby certifies that the City is entitled to draw on Wells Fargo Bank, N.A. Letter of Credit No.: NZS608925 for the amount of the sight draft now presented pursuant to the provisions of performance of that certain Subdivision Agreement for Parcel Map 2006-32 by and between the City and WG Enterprises, a California General Partnership (the" ubdivider"), upon occurrence of one or more events described therein, and such event has occurred." This Letter of Credit expires at our above office on November 14, 2008, but shall be automatically extended, without written amendment, to November 14 in each succeeding calendar year, unless we have sent written notice to you at your address above by registered mail or express courier that we elect not to extend this Letter of Credit beyond the date specified in such notice which date, will be November 14, 2008 or any subsequent November 14 and be at least thirty (30) calendar days after the date we send you such notice. Upon our sending you such notice of the non-extension of the expiration date of this Letter of Credit, you may also draw under this Letter of Credit by presentation to us at our above address, on or before the expiration date specified in such notice, of your draft drawn on us at sight. Partial and multiple drawings are permitted. All drafts must be marked: "Drawn under Wells Fargo Bank, N.A. Letter of Credit No.: NZS608925," All drafts must be also accompanied by the original of this Letter of Credit (plus all amendments, if any) for our endorsement on this Letter of Credit of our payment of such draft. All payments made by us under this Letter of Credit will be made in immediately available funds and will be disbursed from our own funds. If requested by you, payment under this Letter of Credit may be made by wire transfer of Federal Reserve Bank of San Francisco funds to your Pao,C>e I of 2 ........ ......................... account in a bank on the Federal Reserve wire systems. Only you may make any Payment Certificate and Draft under this Letter of Credit. All charges and commissions of Wells Fargo Bank, N.A. incurred in this transaction are for WG Enterprises'account. We hereby agree with you that each duly completed Payment Certificate and Draft drawn under and in compliance with the terms of this Letter of Credit will be duly honored upon presentation to the drawee. The obligation of Wells Fargo Bank, N.A. under this Letter of Credit is the individual obligation of Wells Fargo Bank, N.A. and is in no way contingent upon reimbursement with respect thereto. This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (2007 Revision), International Chamber of Commerce Publication No. 600 (the "UCP") and the laws of the State of California, and, in the case of any conflict between such laws and the UCP, the laws of the State of California will control. Wells Fargo Bank, jAl R. GHAUDHARY IDENT PRES Page 2 of 2 ZD .......... WELLS FARGO BANK, N.A. TRADE SERVICES DIVISION - STANDBY LETTER OF CREDIT UNIT One Front Street, 21st Floor, San Francisco,California 94111 Phone: (800) 798-2815 Option 1. E-Mail: sftrade@well5br E go.corn Irrevocable Letter of Credit Number ZS608928 Issue Date: November 15, 2007 Beneficiary: City of Fresno 2600 Fresno Street, Room 3065 Fresno, California 93721 Attention: Craig Agabashian Re: Payment Security / WG Enterprises We hereby establish our Irrevocable Letter of Credit No.: NZS608928 in favor of City of Fresno for the account of WG (Enterprises, 759 W. Alluvial, Suite 102, Fresno, Ca 93711 in the amount of US$21,000.00 (Twenty One Thousand and NO/100 United States Dollars) available with Wells Fargo Bank, N.A., Trade Service Operations, located at One Front Street— 21�' Floor, San Francisco, California 94111, by payment of your draft(s) drawn on us at sight (`Draft"} accompanied by your signed and dated statement ("Payment Certificate") worded as follows: "The undersigned, an authorized representative of City of Fresno (the "City"), hereby certifies that the City is entitled to draw on Wells Fargo Bank, N.A. Letter of Credit No.: NZS608928 for the amount of the sight draft now presented pursuant to the provision of materials or labor or Unemployment Insurance Act of that certain Subdivision Agreement for Parcel Map 2006-32 by and between the City and WG Enterprises, a California General Partnership (the ""Subdivider"), obligating the Subdivider to secure payment to all contractors, subcontractors, and all persons furnishing labor, materials, or equipment to the for said improvements Subdivider is obligated to contruct pursuant to said Subdivision Agreement, upon occurrence of one or more events described therein, and such event has occurred." This Letter of Credit expires at our above office on November 14, 2008, but shall be automatically extended, without written amendment, to November 14 in each succeeding calendar year, unless we have sent written notice to you at your address above by registered mail or express courier that we elect not to extend this Letter of Credit beyond the date specified in such notice which date, will be November 14, 2008 or any subsequent November 14 and be at least thirty (30) calendar days after the date we send you such notice. Upon our sending you such notice of the non-extension of the expiration date of this Letter of Credit, you may also draw under this Letter of Credit by presentation to us at our above address, on or before the expiration date specified in such notice, of your draft drawn on us at sight. Partial and multiple drawings are permitted. All drafts must be marked: "Drawn under Wells Fargo Bank, N.A. Letter of Credit No.: NZS608928." All drafts must be also accompanied by the original of this Letter of Credit (plus all amendments, if any) for our endorsement on this Letter of Credit of our payment of such draft. Page I of 2 ............................ All payments made by us under this Letter of Credit will be made in immediately available funds and will be disbursed from our own funds, If requested by you, payment under this Letter of Credit may be made by wire transfer of Federal Reserve Bank of San Francisco funds to your account in a bank on the Federal Reserve wire systems. Only you may make any Payment Certificate and Draft under this Letter of Credit, All charges and commissions of Wells Fargo Bank, N.A. incurred in this transaction are for WG Enterprises' account. We hereby agree with you that each duly completed Payment Certificate and Draft drawn under and in compliance with the terms of this Letter of Credit will be duly honored upon presentation to the drawee. The obligation of Wells Fargo Bank, N.A. under this Letter of Credit is the individual obligation of Wells Fargo Bank, N.A. and is in no way contingent upon reimbursement with respect thereto. This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (2007 Revision), International Chamber of Commerce Publication No. 600 (the "UCP") and the laws of the State of California, and, in the case of any conflict between such laws and the UCP, the laws of the State of California will control, Y Wells Fargo N.A.ells Farg N'A' By: JAI R. CHAUDHARYARY r \,MCE PRESIDFNIT Page 2 of 2