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HomeMy WebLinkAboutT-6177 - Cashier Memo - 3/20/2018 City or ���,>�■.: �= MEMORANDUM PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: March 20, 2018 TO: YOLANDA SMITH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 6177 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING 1. Performance Bond in the amount of$2,031,000.00 2. Payment Bond in the amount of$1,069,000.00 3. 5% Performance Security a. Certificate of Deposit in the amount of$107,000.00 (California Bank&Trust) 4. Document preparation fees deposit into 180203 10101 34559 a. Check in the amount of$6,293.00 (JPMorgan Chase Bank N.A. No. 00965583) 5. The Balance on Exhibit B of the Subdivision Agreement a. Check in the amount of$269,225.40 (JPMorgan Chase Bank N.A. No. 00869226) 6. Copy of the Subdivision Agreement identifying itemized applicable charges. If you have any questions, please contact me at 621-8684. Thank you, Jonathan Bartel City of MEMORANDUM IC �� ����l l�r PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: March 19, 2018 TO: HEIDI BRIGGS Personnel Services Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: REQUEST FOR BOND APPROVAL FOR THE FINAL MAP OF TRACT NO. 6177 Attached are original bonds required for the subdivision agreement for the Final Map. Please review the following bonds for conformity to City acceptance policies: 1 Performance Bond in the amount of: $2,031,000.00 2. Payment Bond in the amount of: $1,069,000.00 RISK MANAG MENT DIVISION If you have any questions, please contact me at 621-8684 iApprOvbd 11' Thank you, Aper ved wl hall s U Jonathan Bartel Bond No.: 30035452 Premium: $61093.001annurn Chateau at Summer Grove, Phase 2 SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Lennar Homes of California, Inc. ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 6177 is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and The Continental Insurance Company as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of Two million thirty one thousand and 00/100 dollars ($ 2,031,000.00 ) lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, successors, executors and administrators,jointly and severally, firmly by these presents. The condition of this obligation is such that if the above bounded principal, his or its 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 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. As a 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 judgment 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 anywise 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. In witness whereof, this instrument has been duly executed by the principal and surety above named, on March 13 2018 Lennar Homes of Califopi Inc., Principal: a Califo -ka c or tion 5 e Th titin al Insurance Company By: 1 (Surety) Mec elle Larkin, Attorney-in-Fact r7 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT i A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California ) County of Orange ) On MAR 13 2018 before me, Kathy R. Mair, Nota Public DATE [Name of Notary Public and Title"Notary Public"] personally appeared Mechelle Larkin - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - [Name(s)of Signer(s)] who proved to me on the basis of satisfactory evidence to be the person(s) whose name(o is/a-Fe subscribed to the within instrument and acknowledged to me that he/she/they executed the same in 4is/her/them authorized capacity(ies}, and that by ha s/her/them signatures} on the instrument the personal, or the entity upon behalf of which the persons} acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. KATHY R.MAIR WITNESS my hand and official seal. u- NotaryPublic-California y F orange County b Commission k 2193966 l My Comm.Expires May 22,202 A 2,2021 YI 1111 Signature Q Notary Public Place Notary Seal Above ---------------------------------------------- OPTIONAL ------------------------------- ------------- Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: Mechelle Larkin Signer's Name: ❑ Corporate Officer—Title(s) ❑ Corporate Officer—Title(s): ❑ Partner— ❑ Limited ❑ General ❑ Partner— ❑ Limited ❑ General ❑ Individual ® Attorney-in-Fact ❑ Individual ❑ Attorney-in-Fact ❑ Trustee ❑ Guardian or Conservator ❑ Trustee ❑ Guardian or Conservator ❑ Other: ❑ Other: Signer Is Representing: Signer is Representing: POWER OF ATTORNEY APPOINTING INDIVIDUAL ATTORNEY-IN-FACT Know All Men By These Presents,That The Continental Insurance Company,a Pennsylvania insurance company,is a duly organized and existing insurance company having its principal office in the City of Chicago,and State of Illinois,and that it does by virtue of the signature and seal herein affixed hereby make,constitute and appoint Kathy R Mair,Mechelle Larkin,Individually of Irvine,CA,its true and lawful Attomey(s)-in-Fact with full power and authority hereby conferred to sign,seal and execute for and on its behalf bonds, undertakings and other obligatory instruments of similar nature -In Unlimited Amounts- and to bind them thereby as fully and to the same extent as if such instruments were signed by a duly authorized officer of the insurance company and all the acts of said Attorney,pursuant to the authority hereby given is hereby ratified and confirmed. This Power of Attorney is made and executed pursuant to and by authority of the By-Law and Resolutions,printed on the reverse hereof,duly adopted,as indicated,by the Board of Directors of the insurance company. In Witness Whereof,The Continental Insurance Company has caused these presents to be signed by its Vice President and its corporate seal to be hereto affixed on this 28th day of July,2017. jNS..k••� The Continental Insurance Company 9�Cn; •Z 0 ,a ❑: Paul .Brui al Vice President State of South Dakota,County of Minnehaha,ss: On this 28th day of July,2017,before me personally came Paul T.Bruflat to me known,who,being by me duly sworn,did depose and say: that he resides in the Pity of Sinnx Falls,State of Srnrth Dakota;that he is a Vire President of The Continental Insurance Company,a Pennsylvania insurance company,described in and which executed the above instrument;that he knows the seal of said insurance company;that the seal affixed to the said instrument is such corporate seal;that it was so affixed pursuant to authority given by the Board of Directors of said insurance company and that he signed his name thereto pursuant to like authority,and acknowledges same to be the act and deed of said insurance company. j.-46 S0M MOOR p p17H QfA My Commission Expires June 23,2021 J.Mohr Notary Public CERTIFICATE I,D.Johnson,Assistant Secretary of The Continental Insurance Company,a Pennsylvania insurance company,do hereby certify that the Power of Attorney herein above set forth is still in force,and further certify that the By-Law and Resolution of the Board of Directors of the insurance company printed on the reverse hereof is still in force. In tes ijog6��hereof I have hereunto subscribed my name and affixed the seal of the said insurance company this day of MAR L , •yjNg�• The Continental Insurance Company a ''•••N`��• D.Johnson Assistant Secretary Form F6850-4/2012 Bond No.: 30035452 Premium: Included in Performance Bond Chateau at Summer Grove, Phase 2 SUBDIVISION IMPROVEMENT PAYMENT BOND Whereas, the City Council of the City of Fresno, State of California, and Lennar Homes of California, Inc. ("principal") have entered or will be entering into an agreement whereby the principal agrees to install and complete certain designated public improvements, which agreement, identified as Subdivision Agreement for the Final Map of Tract No. 6177 —Js hereby referred to and made a part hereof; and Whereas, under the terms of the agreement, the principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of Fresno ("City") 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, the principal and The Continental Insurance Company as corporate surety, are held firmly bound unto the City and all contractors, subcontractors, laborers, material men, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum of One million sixty nine thousand and 00/100 dollars ($ 1,069,000.00 ), for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to this work or labor, that the surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in successfully enforcing this obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment 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 the 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. In witness whereof, this instrument has been duly executed by the principal and surety above named, on March 13 . 20 18 Le Homes of alifornia, Inc., Principal: I' nia corpo ation By: �AdIR.�15• pa.�,�► v,c.�,� �i°- et y: h Co n tal ns. ance ompany By: ' (Surety) Mechelle Larkin, Attorney-in-Fact CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California } County of Orange } On MAR 13 2010 before me, Kathy R. Mair, Notary Public _ DATE [Name of Notary Public and Title"Notary Public"] personally appeared Mechelle Larkin - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - [Name(s)of Signer(s)] who proved to me on the basis of satisfactory evidence to be the persons} whose names} is/a-Fe subscribed to the within instrument and acknowledged to me that be/she/they executed the same in his/her/t4& authorized capacity(ies}, and that by 14+s/her/them signatures} on the instrument the person(s), or the entity upon behalf of which the persons} acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. KATHY R.NIA WITNESS my hand and official seal_ Notary Public-California Orange County - Commission�2193966 N1 y Comm Expires May 22:21121 f signature`of Ntary Public Place Notary Seal Above ---------------------------------------------- OPTIONAL --------------------------------------------- Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above Capacity(ies) Claimed by Signer(s) Signer's Name: Mechelle Larkin Signer's Name: ❑ Corporate Officer—Title(s) ❑ Corporate Officer—Title(s): ❑ Partner— ❑ Limited ❑ General U Partner— ❑ Limited ❑ General ❑ Individual ® Attorney-in-Fact ❑ Individual ❑ Attorney-in-Fact ❑ Trustee ❑ Guardian or Conservator ❑ Trustee ❑ Guardian or Conservator ❑ Other: ❑ Other: Signer Is Representing: Signer is Representing: POWER OF ATTORNEY APPOINTING INDIVIDUAL ATTORNEY-IN-FACT Know All Men By These Presents,That The Continental Insurance Company,a Pennsylvania insurance company,is a duly organized and existing insurance company having its principal office in the City of Chicago,and State of Illinois,and that it does by virtue of the signature and seal herein affixed hereby make,constitute and appoint Kathy R Mair,Mechelle Larkin,Individually of Irvine,CA,its true and lawful Attomey(s)-in-Fact with full power and authority hereby conferred to sign,seal and execute for and on its behalf bonds, undertakings and other obligatory instruments of similar nature -In Unlimited Amounts- and to bind them thereby as fully and to the same extent as if such instruments were signed by a duly authorized officer of the insurance company and all the acts of said Attorney,pursuant to the authority hereby given is hereby ratified and confirmed. This Power of Attorney is made and executed pursuant to and by authority of the By-Law and Resolutions,printed on the reverse hereof,duly adopted,as indicated,by the Board of Directors of the insurance company. In Witness Whereof,The Continental Insurance Company has caused these presents to be signed by its Vice President and its corporate seal to be hereto affixed on this 28th day of July,2017. The Continental Insurance Company ;dpi.W Th SU,p•••• p Y .� tia• Nownt 0 Vfts a; . '"*498' Paul . Brul at Vice President State of South Dakota,County of Minnehaha,ss: On this 28th day of July,2017,before me personally came Paul T.Bruflat to me known,who,being by me duly sworn,did depose and say: that he resides in the City of Sioux Falls,State of South Dakota;that he is a Vice President of The Continental Insurance Company,a Pennsylvania insurance company,described in and which executed the above instrument;that he knows the seal of said insurance company;that the seal affixed to the said instrument is such corporate seal;that it was so affixed pursuant to authority given by the Board of Directors of said insurance company and that he signed his name thereto pursuant to like authority,and acknowledges same to be the act and deed of said insurance company. J.MOHR �N$OiUTH PRVXA SER My Commission Expires June 23,2021 J.Mohr Notary Public CERTIFICATE I,D.Johnson,Assistant Secretary of The Continental Insurance Company,a Pennsylvania insurance company,do hereby certify that the Power of Attorney herein above set forth is still in force,and further certify that the By-Law and Resolution of the Board of Directors of the insurance company printed on the reverse hereof is still in force. In testimony whereof I have hereunto subscribed my name and affixed the seal of the said insurance company this day of MAR 1 7f11� "" • The Continental Insurance Company Nowo ten: Q via D; D.Johnson Assistant Secretary Form F6850-4/2012 3/19/2018 Company Profile COMPANY PROFILE Company Profile Company Search Company Information Cornpany Information CONTINENTAL INSURANCE COMPANY (THE) Old Company 333 S. WABASH. Names CHICAGO, IL 60604 Agent for Service 800-262-4554 Reference Information Old Company Names Effective Date NAIC Group List Lines of Business Agent For Service Workers' Compensation Vivian Imperial Complaint and 818 WEST SEVENTH STREET Request for SUITE 930 Action/Appeals LOS ANGELES CA 90017 Contact Information Financial Statements Reference Information PDF's Annual Statements Quarterly — NAIC #. 35289 Statements California Company ID #: 2270-7 Company Complaint CompanyDate Authorized in California: 01/01/1978 Performance & Comparison Data License Status: UNLIMITED-NORMAL Company Company Type: Property &Casualty Enforcement Action ff Composite E State of Domicile: PENNSYLVANIA Complaints Studies ff Additional Info back to top Find A Company Representative In Your Area NAIC Group List View Financial Disclaimer NAIC Group #: 0218 CNA INS GRP Lines Of Business The company is authorized to transact business within these lines of insurance. For an explanation of any of these terms, please refer to the glossary. AIRCRAFT AUTOMOBILE BOILER AND MACHINERY BURGLARY COMMON CARRIER LIABILITY CREDIT DISABILITY FIRE LIABILITY MARINE MISCELLANEOUS PLATE GLASS https://interactive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfile&doFunction=getCompanyProfile&eid=6008 1/2 3/19/2018 Company Profile SPRINKLER SURETY TEAM AND VEHICLE WORKERS' COMPENSATION back to top © 2008 California Department of Insurance https:ilinteractive.web.Insurance,ca.gov/companyprofile/companyprofile?event=companyPfofile&doFunction=ge(CompanyProfile&eid=6008 2/2 3/19/2018 The Continental Insurance Company-Company Profile-Best's Credit Rating Center The Continental Insurance Company A.M. Best#: 002118 NAIC#: 35289 FEIN#: 135010440 Administrative Office View Additional Address Financial Strangth Rating 333 South Wabash Avenue InformationLBEST Chicago, IL 60604 A Excellent United States Assigned to insurance companies that have, in our Web: www.cna.com opinion, an excellent ability to Phone: 312-822-5000 meet their ongoing insurance obligations. View additional news, reports and products for this company. Based on A.M. Best's analysis, 050177 - Loews Corporation is the AMB Ultimate Parent and identifies the topmost entity of the corporate structure. View a list of operating insurance entities in this structure. Best's Credit Ratings Financial Strength Rating View Definition Rating: A(Excellent) Affiliation Code: g (Group) Financial Size Category:XV ($2 Billion or greater) Outlook: Stable Action: Affirmed Effective Date: June 14, 2017 Initial Rating Date: December 31, 1907 Long-Term Issuer Credit Rating View Definition Long-Term: a Outlook: Stable Action: Affirmed Effective Date: June 14, 2017 Initial Rating Date: June 21, 2005 http://ratings.ambest.com/CompanyProfile.aspx?ambnum=2118&URatingld=2392449&bl=0&AItSrc=9&PPP=&AItNum=O&Ext_User=&Ext_Misc=&Port,:,: 1/4 3/19/2018 The Continental Insurance Company-Company Profile-Best's Credit Rating Center u Denotes Under Review Best's Rating Best's Credit Rating Analyst Rating Issued by: A.M. Best Rating Services, Inc. Senior Financial Analyst: Gregory Dickerson Director: Jennifer Marshall, CPCU, ARM I Disclosure Information Disclosure Information Form View A.M. Best's Rating Disclosure Form Press Release A.M. Best Affirms Credit Ratings of CNA Financial Corporation and Its Subsidiaries June 14, 2017 Rating History A.M. Best has provided ratings & analysis on this company since 1907- Financial Strength Rating Effective DateRating 6/14/2017 A 2/23/2016 A 12/16/2014 A 12/18/2013 A 1/11/2013 A Long-Term Issuer Credit Rating Effective DateRating 6/14/2017 a 2/23/2016 a 12/16/2014 a 12/18/2013 a 1/11/2013 a http://ratings.ambest.com/CompanyProfile.aspx?ambnum=2118&URating Id=2392449&bl=0&AItSrc=9&PPP=&AItNum=O&Ext_User=&Ext_Misc=&Port... 2/4 3/19/2018 The Continental Insurance Company-Company Profile-Best's Credit Rating Center Best's Credit Reports i— Best's Credit Report -Where applicable, includes Best's Financial Strength Rating and rationale along with comprehensive analytical commentary, detailed business overview and key financial data. Report Revision Date: 7/13/2017 (represents the latest significant change). I-- Historical Reports are available in Best's Credit Report Archive. i I View additional news, reports and products for this company. Press Releases Date Title Jun 14, 2017 A.M. Best Affirms Credit Ratings of CNA Financial Corporation and Its Subsidiaries Feb 23,2016 A.M. Best Affirms Ratings of CNA Financial Corporation and Its Subsidiaries;Assigns Rating to New Senior Notes Dec 16, 2014 A.M. Best Affirms Ratings of CNA Financial Corporation and Its Subsidiaries i Dec 18, 2013 A.M. Best Affirms Ratings of CNA Financial Corporation and Its Subsidiaries Jan 11, 2013 A.M. Best Affirms Ratings of CNA Financial Corporation and Its Subsidiaries Apr 05, 2012 A.M. Best Affirms Ratings of CNA Financial Corporation and Its Subsidiaries Mar 02, 2011 A.M. Best Affirms Ratings of CNA Financial Corporation and Its Subsidiaries Feb 08, 2010 A.M. Best Revises Outlook to Stable From Negative For Ratings of CNA Financial Corporation and Its Subsidiaries Feb 13, 2009 A.M. Best Revises Outlook to Negative and Affirms Ratings of CNA Financial Corporation and Its Subsidiaries Dec 16, 2008 A.M. Best Affirms Ratings of CNA Financial Corporation and Its Subsidiaries 1 2 3 Page size: 10 22 items in 3 pages Find a Best's Credit Rating Enter a Company Name Go Advanced Search How to Get a A+ Best's Credit Rating 4�=' Best's Credit Ratings Mobile App http://ratings.ambest.com/CompanyProfile.aspx?ambnum=2118&URating Id=2392449&b1=0&AltSrc=9&PPP=&AltNum=0&Ext_User=&Ext_Misc=&Port... 3/4 3/19/2018 The Continental Insurance Company-Company Profile-Best's Credit Rating Center European Union Disclosures A.M. Best-Europe Rating Services Limited (AMBERS),a subsidiary of A.M. Best Rating Services, Inc., is an External Credit Assessment Institution (ECAI)in the European Union (EU).Therefore, Credit Ratings issued and endorsed by AMBERS may be used for regulatory purposes in the EU as per Directive 2006/48/EC. Australian Disclosures A.M. 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Best Company, Inc. and/or its affiliates ALL RIGHTS RESERVED. http://ratings.ambest.com/CompanyProfile.aspx?ambnum=2118&U Rating Id=2392449&bl=0&AltSrc=9&PPP=&AItN um=0&Ext_User=&Ext_Misc=&Port... 4/4 W AUTOMATICALLY RENEWABLE ~ C B CALIFORNIA BANK U TRUST LL U ISSUED AT Irvine Center FFICE Irvine CA DATE 3114118 W (CITY OR TOWN) (STATE) W0 Lennar Fresno Inc FBO City of Fresno************5791084444************* U OTOMER NAMEy (CI15TpMf A NUMBEFty � F- One Hundred Seven Thousand and No/100***************DOLLARS $ 107, 000, 00 a W 0 j HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK & TRUST PAYABLE TO. City of Fresno .OR ORDER UPON MATURITY cc Q AS HEREINAFTER SPECIFIED AND UPON PRESENTATIO5A D1Sl�RL EiJD�R OFTHIS CERTIFICATE,PROPERLY ENDORSED,ATTHE ABOVE OFFICE. 0 THE MATURITY OFTHIS CERTIFICATE WILL BE j [} AFTER DATE,AND SUCH MATURITY WILL BE AUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS Z UNLESS:(A)AT LEASTTEN DAYS PRIOR TO SUCH ORIGINAL OR ANY EXTENDED MATURITY,THIS BANK HAS SENT WRITTEN NOTICE TO THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON ITS RECORDS OF BANK'S ELECTION TO PAY THE DEPOSIT AT SUCH ORIGINAL OR ANY EXTENDED MATURITY,OR (B)UPON OR'WITHIN TEN DAYS AFTER SUCH ORIGINAL OR ANY EXTENDED MATURITY DATE,THIS CERTIFICATE IS PRESENTED AND SURRENDERED FOR PkykPP.r SAID DEPOSIT BEARS SIMPLE INTEREST AT THE RATE OF %PER ANNUM FROM DATE HEREOF UNTIL ULTIMATE MATURITY,AS ABOVE PROVIDED,AND SUCH INTEREST WILL I BE PAID OR CREDITED AT EACH SUCCESSIVE MATURITY DATE IN ACCORDANCE WITH THE WRITTEN INSTRUCTIONS OF THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON THE RECORDS OF THIS ` BANK.THE RATE OF INTEREST IS SUBJECT TO CHANGE BY BANK WITHOUT NOTICE,TO THE EXTENT NECESSARY TO COMPLY WITH ANY LAW OR GOVERNMENTAL REGULATION AFFECTING THE DEPOSIT, AUTHORIZED SIGNATURE OPS-1(06/16) A division of ZB,N.A.Member FDIC Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 0�96558� 8080 N. Palm, Suite 110 Chicago,IL r0.z;322 Fresno,CA 93711 Void if over 180 days 719 DATE AMOUNT PAY 03/09/18 $*****6,293.00 SIX THOUSAND TWO HUNDRED NINETY THREE AND 00/100 *********************************** I)OLL4Rs /�1001* Ago� TOE City of Fresno-Development Authnriz0 Si natnry TH ORDER 2600 Fresno St OF Fresno CA 93721 Authorized Signatory Two Signatures Required on Amounts Over S100,ODO.RO THE FACE OF THIS.CHECK HAS A BLUE AND GREEN BACKGROU RD-ANY DIKE R=01FIGA&Y.BE EVIDENCE OF CKEMICAL ALTERATION OR EIRAMME-SEE RIEVERSE.SIDE FOR MORE 11'0096SS8311' 1:07L923226i: 88629333LII■ .. . THE LIGHT. Lennar Fresno,Inc. JPMorgan Chase Bank N.A. R090 N. Palm,Suite 110 Chicago,IL 00965582 70.2322 Fresno,CA 93711 Void if over 180 days 719 DATE AMOUNT PAY 03/09/18 $***269,225.4.0 TWO HUNDRED SIXTY NINE THOUSAND TWO HUNDRED TWENTY FIVE AND 40/100 ***************** 001,L,4 R5 TO City of Fresno-Development udlTHE orize atury. ORDER 2600 Fresno St OF Fresno CA 93721 Authorized Signatory � Two Signatures Required on Amounts Over$100,000,00 THE FACE OF .GREEN BACKGROUND OTHER COLORS . OF CHEMICAL ALTERATION OR ERASURE-SEE REVERSE SIDE FOR MORE 11■0096SS8211■ 11:0719232261: 886293331iII'