HomeMy WebLinkAboutT-5098 - Agreement/Covenant - 2/10/2005 (2) Y ,
City Of
■ R 1ESmll Ul/
PUBLIC WORKS DEPARTMENT
2600 Fresno Street
Fresno, California 93721-3616
(559) 621-8650
P.W. File No. 10581
SUBDIVISION AGREEMENT FOR TRACT NO. 5098
Subdivision Agreement
Tract No. 5098
Page 2
THIS AGREEMENT is made this 507%dayof A2�' 2004,
by and between the City of Fresno, a Municipal Corporation, hereinafter designated and called
the "City," and Lennar Fresno, Inc., a California Corporation„ hereinafter designated and called
the "Subdivider,"without regard for number or Gender.
RECITALS
A. The Subdivider has presented to the City a certain final map of a proposed
subdivision of land owned by the Subdivider and located within the corporate limits of the City
known and described as Tract No. 5098 (hereinafter referred to as the "Final Map" and
incorporated into this agreement by this reference) and has requested the City to accept the
dedications delineated and shown on the Final Map for the use and purposes specified thereon,
and to otherwise approve the Final Map in order that the same may be recorded, as required by
law.
B. The City requires, as a condition precedent to the acceptance and approval of the
Final Map, the dedication of such streets, highways and public places and easements as are
delineated and shown on the Final Map, and deems the same as necessary for the public use,
and also requires that any and all streets delineated and shown on the Final Map shall be
improved by the construction and the installation of the improvements hereinafter specified.
C. Section 12-1012 of the Municipal Code of the City of Fresno requires the Subdivider
to enter into this Agreement with the City whereby Subdivider agrees to do, perform and complete
the work and matters required as Conditions of Approval for Vesting Tentative Map No.50981UGM
dated December 17, 2002 issued by the City and any amendments thereto (hereinafter referred
to as"Conditions of Approval"and incorporated into this agreement by this reference), hereinafter
set forth in detail,within the time hereinafter mentioned, in consideration of the acceptance of the
offers of dedication by the City of Fresno.
Subdivision Agreement
Tract No. 5098
Page 3
D. The Subdivider desires to construct the improvements and develop the subdivision.
E. The Subdivider hereby warrants that any and all parties having record title interest
in the Final Map which may ripen into a fee have subordinated to this instrument and that all such
instruments of subordination, if any, are attached hereto and made a part of this instrument.
AGREEMENT
In consideration of the acceptance of the offers of dedication of the streets, highways,
public ways, easements and facilities as shown and delineated on the Final Map, and in
consideration of finding of substantial compliance with said tentative map, it is mutually agreed
and understood by and between the Subdivider and the City, and the Subdivider and the City do
hereby mutually agree as follows:
1. The Subdivision is subject to the following:
a. The work and improvements shall be performed hereinafter specified on or
before April 1, 2005, except as noted in (b), (c), and (d) listed below.
b. The Sidewalk and driveway approach construction for the interior lots of the
subdivision shall be completed on or before April 1, 2006, (The developer
may submit a written request to the Public Works Director for an extension
of time to complete the construction of the sidewalk and driveway
approaches).
C. The Street Trees required for each lot shall be planted upon occupancy of
each lot. The Subdivider shall notify the City Parks, Recreation and
Community Services Department-Parks Division of the planting schedules.
All species of Street Trees to be planted in the subdivision shall be as
approved by the Parks Division. The responsibility to provide and plant, or
to inspect the required Street Tree planting, shall be in accordance with the
Street Trees fees paid in EXHIBIT"B,"attached hereto and made a part of
this Agreement and/or the "Statement of Covenants Affecting Land
Development to Plant and Maintain Front Yard Trees for Tract No. 5098,"
per Resolution No. 98-129 requirements for 50 and 54-foot local street
patterns.
Subdivision Agreement
Tract No. 5098
Page 4
d. The Issuance of building permits for any structure within the subdivision
shall conform to the requirements of the prevailing Uniform Fire Code
(UFC). The Subdivider's attention is particularly called to Part III, Article 9
of UFC relating to Fire Department access and water supply. No building
permit shall be issued until all Fire Department access and fire fighting
water supply requirements have been met. No occupancy permit shall be
issued until all Fire Department requirements for occupancy have been met.
The issuance of any occupancy permits by the City for dwellings located
within said subdivision shall not be construed in any manner to constitute
an acceptance and approval of any or all of the streets and improvements
in the subdivision.
e. No certificates of occupancy will be issued nor any human occupancy
allowed for any building on any lot of the subdivision until permanent
sanitary sewer and water service is determined to exist by the Director of
Public Utilities Department.
f. When a delay occurs due to unforeseen causes beyond the control and
without the fault or negligence of the Subdivider, the time of completion
may be extended for a period justified by the effect of such delay on the
completion of the work. The Subdivider shall file a written request for a
time extension with the Director of Public Works prior to the above noted
date, who shall ascertain the facts and determine the extent of justifiable
delays, if any. Extension of time for completion of improvements(including
street trees planting) may be granted by the Public Works Director with an
extension fee from the current Master Fee Schedule based upon the initial
estimated total improvement cost. The Director of Public Works shall give
the Subdivider written notice of his determination in writing, which shall be
final and conclusive.
2. The work and improvements, more specifically shown on the referenced plans and
made a part hereof, shall be done in accordance with the construction standards contained in the
2002 Edition of the City of Fresno Standard Specifications and Drawings(City Council Resolution
No. 70-36 and Resolution No. 84-361) and any amendments thereto, (hereinafter referred to as
"Public Works Standards") at the sole cost and expense of the Subdivider including all costs of
engineering, inspection and testing.
Subdivision Agreement
Tract No. 5098
Page 5
3. The work and improvements are as follows:
a. Construct all landmarks, monuments and lot corners required to locate land
divisions shown on the Final Map.
Pursuant to Section 66497 of the State Subdivision Map Act, prior to the City's final
acceptance of the subdivision and release of securities, the Subdivider shall submit
evidence to the City of Fresno of payment and receipt thereof by the Subdividers engineer
or surveyor for the final setting of all monuments required in the subdivision.
b. All utility systems shall be installed underground. Subdividers attention is
directed to the installation of street lights in accordance with Resolution No. 78-522 or any
amendments or modifications which may be adopted by Council prior to the actual
installation of the lights. The Subdivider shall construct a complete underground street
light system as approved by the City Engineer prior to final acceptance of the subdivision.
Height, type, spacing, etc. of standards and luminaires shall be in accordance with
Resolution Nos. 78-522 and 88-229 or any amendments or modifications which may be
adopted by Council prior to the actual installation of the lights and shall be approved by the
City Engineer.
C. 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.
d. 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.
e. Lot drainage shall be in accordance with Section 13-120.3315 of the Fresno
Municipal Code.
f. All "Dead-End" Streets created by this subdivision shall be barricaded in
accordance with Public Works Standards within seven (7)days from the time said streets
are surfaced, or as directed by the City Engineer.
g. Any temporary storm water retention basins constructed or enlarged to
serve this tract shall be fenced in accordance with Public Works Standards within seven
(7)days from the time said basins become operational,or as directed by the City Engineer.
Subdivision Agreement
Tract No. 5098
Page 6
h. Wet-Ties shall be in accordance Sections 14-107 and 14-111 of the Fresno
Municipal Code. The amounts identified below as "Wet-Tie Charges"are estimates only
and serve as a deposit to cover the actual cost of construction. Should the actual
construction cost be less than the deposit, the Subdivider shall be refunded the excess.
Should the actual construction cost be greater than the deposit, the Subdivider shall be
billed by the City of Fresno for the difference and shall be directly responsible for payment.
i. The Subdivider shall install the fencing/walls, landscaping and irrigation
system, in accordance with the approved improvement plans (i.e., Landscape and
Irrigation Plans, Grading Plans), within the Landscape Easement area required in the
Conditions of Approval and delineated on the Final Map.
The Subdivider has elected to satisfy Subdivider's obligation to maintain the
landscaping and irrigation systems within certain landscape easement area by agreeing
to annex the Subdivision into the City's Community Facilities District No. 2 (CFD-2) and
agreeing to maintain such landscaping and irrigation systems pursuant to a covenant until
the Subdivision is duly annexed into the CFD-2 and such CFD-2 is responsible for the
maintenance thereafter. The Subdivider shall provide each prospective purchaser, a
Notice of Special Tax in accordance with the provisions of Section 53341.5 of the
California Government Code.
The improvement plans for such landscaping and irrigation system shall be
prepared by a licensed Landscape Architect, certified irrigation designer or other persons
with landscaping and irrigation design expertise acceptable to the Planning and
Development Director.
j. Perform and construct all work shown on the following construction plans
and any amendments thereto :
i. City Drawing Nos:[10-C-8479 through 10C-8487 with WaterJob No.
4936 (9 sheets) inclusive, 15-C-11304 through 15-C-11318 (15 sheets) inclusive,
Drawing No. 4-C-740 (1 sheet) ], unless specifically omitted herein.
ii. Fresno Metropolitan Flood Control District Drawing Nos: EF-32-1
through EF-32-2 (2 sheets) inclusive, unless specifically omitted herein.
Install and complete all other street improvements required by Section 12-1012 of the
Fresno Municipal Code in accordance with the Public Works Standards and the
construction plans.
Subdivision Agreement
Tract No. 5098
Page 7
k. Prior to approval of the Final 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
Final Map approval. The total fees and charges are more particularly itemized and made
a part of this agreement in the attached Exhibit"B."
I. In connection with assigning figures set forth in Exhibits"A"and"B,"the City
has made its best faith efforts at predicting the amounts to be credited as reimbursements
for improvements that will benefit other properties. Because the subject improvements
have not been completed at the time of execution of this agreement, the actual cost of
construction is not yet known. Some degree of reasonable estimation is incorporated into
the calculations. Subdivider agrees that these figures represent City's best estimates only
and that they are subject to fluctuation following calculation of actual construction costs
after improvement completion and acceptance. It is further subject to Subdivider's
submission and City review of a financial accounting which sets forth those actual costs,
and the application, by City, of all relevant Fresno Municipal Code provisions which relate
to the Subdivider's payment of fees and reimbursement thereto. This would include any
pertinent provisions contained within City's Master Fee Schedule which would also apply
to the payment of fees or reimbursements .
4. It is agreed that the City shall inspect all work. All of the work and improvements
and materials shall be done, performed and installed in strict accordance with the approved
construction plans for said work on file with the City Engineer and the Public Works Standards,
which said construction plans and Public Works Standards are hereby referred to and adopted
and made a part of this Agreement. In case there are not any Public Works Standards for any of
said work, it is agreed that the same shall be done and performed in accordance with the
standards and specifications of the State of California, Division of Highways. All of said work and
improvements and materials shall be done, performed and installed under the inspection of and
to the satisfaction of the City Engineer.
Subdivision Agreement
Tract No. 5098
Page 8
5. Prior to the approval by the Fresno City Council of the Final Map, the Subdivider
shall fumish to the City the following improvement securities in the amounts more particularly
itemized in Exhibit A. Bonds shall be by one or more duly authorized corporate sureties licenced
to do business in California subject to the approval of the City and on forms furnished by the City.
a. PERFORMANCE SECURITY. Total amount to equal to 100% of the Final
Cost Estimated to be conditioned upon the faithful performance of this Agreement.
L 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 to 50% of the Final Cost
Estimated 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.
C. Any and all other improvement security as required by Section 12-1016 of
the Fresno Municipal Code.
6. On acceptance of the required work by the City Engineer, a warranty security shall
be furnished to or retained by the 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.
f
Subdivision Agreement
Tract No. 5098
Page 9
7. This Agreement shall in no way be construed as a grant by the City of any rights
to the Subdivider to trespass upon land rightfully in the possession of, or owned by, another,
whether such land be privately or publicly owned.
8. 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 injuries to and deaths of persons, 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 to be done in and upon the street
rights-of-way in said subdivision and upon the premises adjacent thereto pursuant to this
Agreement, and also from all injuries to and deaths of persons, and all claims, demands, costs,
loss, damage and liability, howsoever same may be caused, either directly or indirectly made or
suffered by the Subdivider, the Subdivider's agents, employees and subcontractors, while
engaged in the performance of said work. The Subdivider further agrees that the use for any
purpose and by any person of any and all of the streets and improvements hereinbefore specified,
shall be at the sole and exclusive risk of the Subdivider at all times prior to final acceptance by the
City of the completed street and other improvements thereon and therein.
9. The Subdivider shall remedy any defective work or labor or any defective materials
and pay for any damage to otherwork resulting therefrom which shall occur within a period of one
(1) year from the date of acceptance of the work.
10. The Subdivider and his subcontractors shall pay for any materials, provisions, and
other supplies 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 the
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.
Subdivision Agreement
Tract No. 5098
Page 10
11. Initial soils compaction testing for public utility improvement work within the
right-of-way shall be ordered by and paid for by the City of Fresno. Public utility improvements
shall include street surface improvements, sanitary and storm sewers, City water facilities and
irrigation lines. All other compaction testing for private utility installations shall be paid for by the
Subdivider or his agent. Compaction testing performed for determination of compliance with
Public Works Standards shall at all times remain under the control and direction of the City
Engineer who shall determine locations and depths to be tested. Any compaction tests failing to
meet the City's requirements shall be reordered by the City and paid for by the Subdivider or his
agent. Billing for the private utility tests and any required retesting due to failures shall be made
directly to the Subdivider or his agent.
12. The Subdivider shall comply with Street, Plumbing, Building, Electrical, Zoning
Codes and any other codes of the City of Fresno.
13. 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 of Fresno 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.
14. 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. If
Subdivider fails to duly notify City as herein required, any work done in the absence of the
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 Engineer or Inspector and
accepted.
Subdivision Agreement
Tract No. 5098
Page 11
15. 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
release of bond, or final acceptance of completed work.
16. 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 in the subdivision until the paving of the streets is completed.
"Adequate dust control" as used herein shall mean the sprinkling of the streets with water or the
laying of an approved dust palliative 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 twenty-four(24)hours after such personal service of such notice or within
forty-eight (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 thereafter fail 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 treated. When the surfacing on any existing street is disturbed, this
surfacing shall be replaced with temporary or permanent surfacing within fourteen (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.
Subdivision Agreement
Tract No. 5098
Page 12
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, and the same shall bind and inure to the
benefit of the parties hereto, their successors 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 City.
111
Subdivision Agreement
Tract No. 5098
Page 13
The parties have executed this Agreement on the day and year first above written.
CITY OF FRESNO, SUBDIVIDER
a Municipal Corporation
Lennar Fresno, Inc.,
JON R. RUIZ, DIRECTOR A California Corporation
PUBLIC WORKS DEPARTMENT
s�
By:
Steve Lutton, Vice-President
Michael T. Kim, P.E., Assistant Director
ATTEST:
REBECCA E. KLISCH, CMC
CITY CLERK (Attach Notary Acknowledgment)
a a
By: c �, itcr�1.�L st
Deputy
APPROVED AS TO FORM:
HILDA CANTO MONTOY
City Attorney
By: t4 zz�
eputy
FORM Subdivision Agreement v10-03-03
J.B.-Feb 5,2004
ALL PURPOSE ACKNOWLEDGMENT
STATE OF CALIFORNIA }
COUNTY OF Fresno }
On February 20, 2004 before me, Tauna Rothermel , personally appeared
STEVE LUTTON
-personally known to me
❑ 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), an that by his/her/their signature(s) on the instrument
the person(s), or the entity upon behalf of which the person(s) acted, executed
the instrument.
TAUWA ROrTHF_RMEL
WITNESS my hand and official seal. Commlosion 0 1351179
Z Wobry Public-California
Fresno County
Ccrnrn.Ex0=Apr13.2DW
' na
(NOTARY SEAL)
EXHIBIT A Subdivision Agreement for Tract 5098
A. APPROVED PUBLIC IMPROVEMENT CONSTRUCTION COST ESTIMATES
Water System Construction Cost Estimate $128,310
Weil Construction Cost Estimate $0
Sewer System Construction Cost Estimate $137,343
Street Construction Cost Estimate $908,73
Final Cost Estimate (for Inspection Fee purposes) $1,174,39111
305 Landmarks, Monuments, Lot& Block Corners ($50/ea) $15 250
Sub-Total (for bonding purposes) $1,189,641
Construction Contingency (10%) $118,964
TOTAL COST ESTIMATE*
(for improvement securities purposes) $11308260511 $1,309,000
*All amounts rounded to nearest$1000
B. IMPROVEMENT SECURITY REQUIREMENTS(due with subdivision agreement)
Performance Security (100%of Total Cost Estimate)
95%of amount shall be in the form of a bond by duly
authorized corporate sureties or irrevocable letter of
credit $1,244,000
5%of amount shall be in cash or a Certificate of Deposit $65,000
Payment Security (50% of Total Cost Estimate)
100% of amount shall be in the form of a bond by duly
authorized corporate sureties or irrevocable letter of
credit $654,500
Faithful Performance Security to Guarantee Completion of Plans
Street Plans $0
Utility Plans (Sewer.Water, Storm Water) $0
Street Light Plans $0
Landscaping/Irrigation/Walls $0
100% of amount shall be in cash or a Certificate of Deposit 1 $0
C. WARRANTY SECURITY REQUIREMENT* (due as condition of acceptance of the work)
5%of first$50,000 of the Total Cost Estimate $3,000
3%of next$50,000 $2,000
1%of next$400,000 $4,000
0.5% of amount over$500,000 $4,000
Minimum amount $13,0001
EXHIBIT A v4/28/00 Prepared By: Rick Date: 02/13/04 Print Date:02/13/04 11:11:09 AM Page 1 of 1
EXHIBIT B Subdivision Agreement for T- 5098
NET AMOUNT AMOUNT
EXTENSION DUE DEFERRED
A. MISCELLANEOUS FEES S CHARGES
1. INSPECTION FEE
$0 Final Cost Estimate<$10K na
(11.52%;$600 minimum fee)
$0 Final Cost Estimate>$10K-S-$500K
na
($4836+3.25%of amount over$10K)
$1 174 391 Final Cost Estimate over$500K $48 443.03
($20,793+4.1%of amount over$500K)
Less Inspection Fees paid with Early
SewerNVater Construction Agreement $14 592.00
Less Inspection Fees paid with Early Street
Construction Agreement $35 726.00
Inspection Fee $0.00 $0.00
2. MONUMENT CHECK FEE
120 Lots and Outlots @ $30.00 per Lot $3,600.0011 $3,600.00
(Min$200)
3. STREET SIGNS
10 Street Name Sign sets @ $173.00 per set $1 730.00 $1.730.001
0 Waming/Regulatory signs @ $77.00 sign $77.00 $77.00
4. STREET TREES
23 Inspection Fee(when planted by subdivider) @ $30.00 per Tree $690.00 $690.00
240 Trees by Covenant(Resolution 98-129;2 trees/Lot fronting 50'streets)
5. STREET RIGHTS OF WAY ACQUISITION/CONSTRUCTION CHARGE per FMC 11-226(f)(6
Lum Sum Charge as established by Public Works Director na nal
6. LANDSCAPE MAINTENANCE DISTRICT FEES(CFD-2)
120 Lots(anticipated maintenance cost) @ $104.32 per Lot $12 518.40
F7Lots(Incidental expenses:legal fees, per Lot
publications,mailings,engineering, ($1,500
120assessment district proceedings @ $0.00 min) $2 300.00
Lum Sum Landscape area Field Inspection Fee-Parks (d $305.00 LS $305.00
Total $15123.40 $15123.40
$114.32 Estimated assessment per Lot(information only)
7. IRRIGATION PIPELINE(one-time maintenance fee)
0 Lineal Feet @ $5.00 per LF na na
S. URBAN RESERVE 41 CORRIDOR NEXUS STUDY CONTRIBUTION
Freewa 41 i Friant Road i Hemdon Corridor
0.0000 Adjusted Gross Acres @ $250.00 per AG Ac F--s-666-1 1 $0.00
TOTAL MISCELLANEOUS FEES 8 CHARGES $21,220.40 $21,220.40
EXHIBIT B v11/01/01 Printed 02/17/04 9;13:48 AM Page 1 of 4
EXHIBIT B Subdivision Agreement for T- 5098
NET AMOUNT AMOUNT
EXTENSION DUE DEFERRED
B. IMPACT FEES,CONSTRUCTION CREDITS&FEES TO BE DEFERRED
30.6066 Gross Acres
28.0190 Adjusted Gross Acres(AG Ac); excludes Area of Arterial&Collector Streets
120 Units(residential)
R-1 Zoning
u m Input"ugm"if within the Urban Growth Management Area or"no"
1. LOCAL DRAINAGE FEES
EF FMFCD Drainage Area
30.5996 Acres per FMFCD @ $2 850 per Acre $87 209.00
Local Drainage Fee $87,209.00 11 $87 209.00
2. SEWER CONNECTION CHARGES
(a)Lateral Sewer Charge
Frontage: N.Comelia Avenue 95,600 SF
Frontage: 1W.Bullard Avenue 120,000 SF
Frontage: IN.Milburn Avenue 102,200 SF
Total Square Feet 317.80 SF
317 800 SF; sub-total Lateral Sewer Charge @ $0.10 per SF $31 780.00
Less estimated Lateral Sewer Charge Credits
Lateral Sewer Charge $31 780.00 $2,783.901. $28,996.101
Fee Due for Lots under Early Issuance of Building Permits Agreement
(b Oversize Sewer Charge
18 UGM Reimbursement Area
Frontage: N.Cornelis Avenue 95,6 j00 SF
Frontage: 1W.Bullard Avenue 120,000 1 SF
Frontage: IN.Milburn Avenue 102,20 SF
Total Square Feet 1 317,800 ISF
317 800 SF;sub-total Oversize Sewer Charge ® $0.05 per SF $15 890.00
Less estimated Oversize Credits
Less estimated Overdepth Credits
Oversize Sewer Charge $15,89 $1,391.951* $14 498.05
(c Trunk Sewer Charge
Comelia Trunk Sewer Service Area
120 Units @ $419.00 per Unit $50 280.00 $50.50.00
(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 Caps city Enhancement Charge
na Trunk Sewer Service Area
120 Units per Unit na nal
( Copper Avenue Sewer Lift Station Benefit Service Area Charge ® �*
0 Units @F--$6-50.0-0-71 per Unit $0.00 $0.00 $0.00
EXHIBIT 8 A 1/01/01 Printed 02/17/04 9:13:48 AM Page 2 of 4
EXHIBIT B Subdivision Agreement for T- 5098
NET AMOUNT AMOUNT
EXTENSION DUE DEFERRED
3. WATER CONNECTION CHARGES
(a)Time&Material Charges("Wet-Tie")
2003 0708 Estimate Number
4936 Water Job Number
Estimated Deposit(FMC 14-111-t) $26 600.00 $0.00](133)
(133) Deposit paid with Early Construction Agreement
(b1)Servic;Connection- 2"Metterseters to existing services @ ��O each to existing services @33,600.001
$470.00 each $$3 290.00 34.880.00 $1,280.001$0 00 $$3 290.00
(b2 Landscape Service Connection Charges
212"Meters to existing services @ $620.00 each $1 240.00 $1,240,
02"Service @ $1 010.00 each $1 010.00 $1 010.00
(c)Frontage Char e
Frontage: N.Cornelia Avenue 956 LF
Frontage: W.Bullard Avenue I 1 200 LF
Frontage: N.Milburn Avenue 1,022 LF
Sub-Total Lineal Feet(Y2 rate) 3 178 LF
3 178 LF; sub-total Frontage Charge(Y2 rate) @ $3.25 per LF $10 328.50
Sub-Total Frontage Charge $10 328.50
Less estimated Frontage Charge Credits
Frontage Charge $10 328.50 $344.28 r $9,984-221
(d)Transmission Grid Main Charge
A UGM Reimbursement Area
30.6066 Gross Acres @ $560.00 per Gr Acre $17,139.70
Less Estimated TGM Construction Credits
Transmission Grid Main Charge $17 139.70 $435.03 • $16.704.671
(e)Transmission Grid Main Bond Debt Service Charge
30.6066 1 Gross Acres @ $243.00 per Gr Acre $7 437.40
Less Estimated TGM Bond Debt Service Charge Credits
Transmission Grid Main Bond Debt Service Charge $7 437.40 $188.77 $7 248.63
( UGM Water Supply Fee
137 1 Supply Well Service Area
30.6066 Gross Acres @F----$310.700 per Gr Acre $9.48805
UGM Water Supply Fee $9 488.05 $9 488.05
( Well Head Treatment Fee
201 Well Head Treatment Service Area
120 Living Units(residential) @ $0.00 per Unit
N Recharge Fee
201 Recharge Service Area
120 Living Units(residential) @ $0.00 per Unit
(i)1994 Bond Debt Service Fee
201 1994 Bond Debt Service Fee Service Area
120 Living Units(residential) @ $0.00 per Unit
EXHIBIT B 01/01/01 Printed 02/17/04 9:13:48 AM Page 3 of 4
EXHIBIT B Subdivision Agreement for T- 5098
NET AMOUNT AMOUNT
EXTENSION DUE DEFERRED
4. URBAN GROWTH MANAGEMENT(UGM)FEES&CONSTRUCTION CREDITS
(a)UGM FIRE STATION FEE
14 Fire Station Service Area
30.6066 Gross Acres @ $547.00 per Gr Acre $16 741.81 $424.93 • $16 316.88
ft UGM NEIGHBORHOOD PARK FEE
5 Neighborhood Park Service Area
30.6066 Gross Acres @ $1 695.00 per Gr Acre $51 878.19 $1,316.741- F---$_-5-0-5-61-4-51
(c)UGM MAJOR STREET CHARGE
C/D-2 Major Street Zone
28.0190 JAdjusted Gross Acres @ $1 930.00 per AG Ac $54 076.67
Less Estimated Major Street Charge Construction Credits
Major Street Charge $54,076.6711 $1,233.451' $52 843.22
(d)UGM MAJOR STREET BRIDGE CHARGE
C/D-2 Major Street Bridge Zone
28.0190 JAdjusted Gross Acres @ $65.00 per AG Ac $1 821.24
Less Estimated Major Street Bridge Charge Construction Credits
Major Street Bridge Charge $1 821.24 $41.E41. $1.779.701
(e)UGM TRAFFIC SIGNAL CHARGE
28.0190 Adjusted Gross Acres @ $860.00 per AG Ac $24 096.34
Less Estimated Traffic Signal Charge Construction Credits
Traffic Signal Charge $24 096.34 1 $549.62 ' $23 546.72
( UGM GRADE SEPARATION CHARGE
Grade Separation Service Area
28.0190 Adjusted Gross Acres @ $0.00 per AG Ac na
(g)-UGM RUNK SEWER FEE
Trunk Sewer Service Area
28.0190 Adjusted Gross Acres @ $0.00 per AG Ac na
(h OVERLAY 0 rla SERVICE AREA
Millbrook Overlay Service Area
28.0190 Adjusted Gross Acres @ $0.00 per AG Ac na
Total Impact Fees&Charges $445,186.90 $159,217.26 $259,369.64
Note: EXTENSION total includes net results of construction credits
SUMMARY
TOTAL(A) MISCELLANEOUS FEES&CHARGES $21,220.40
TOTAL(B) IMPACT FEES&CHARGES $159,217.261 $259 369.64
TOTAL SUBDIVISION FEES and CHARGES DUE WITH AGREEMENT cash $180,437.66
EXHIBIT B vi 1/01/01 Printed 02/17/04 9:13:48 AM Page 4 of 4
Bond Number: 0871 9347
Premium: $8,708.00
Executed in Du licate
FAITHFUL PERFORMANCE BOND
(Subdivision Agreement)
WHEREAS, the City Council of the City of Fresno, State of California, and
Lennar Fresno, Inc. (herein designated
as "principal") have entered into an agreement whereby principal agrees to install and complete
certain designated public improvements, which said agreement, dated 19
and identified as
project 5098 C-Bullard/Cornelia , is hereby referred
to and made a part hereof; and,
WHEREAS, said principal is required under the terms of said agreement to furnish a bond
for the faithful performance of said agreement.
NOW, THEREFORE, we, the principal and Fidelity and Deposit Company* as surety,
are held and firmly bound unto the City of Fresno, (hereinafter called "City"), in the penal sum
Of One Million Two Hundred Forty Four Thousand and no/100
dollars ($ 1,244,000.00 ) 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 severally, firmly by these presents.
*of Maryland
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.
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 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
• '1 S
terms of the agreement or to the work or to the specifications.
Faithful Performance Bond
(Subdivision Agreement)
Page 2
In witness whereof, this instrument has been duly executed by the principal and surety above
named, on February 19 , 2004
FIDELITY DEPOSIT COMPANY OF MARYLAND
By: - h/-
By:
Patricia H. Brebner, Attorney-in-Fact
Principal
Address of Surety
LENNAR FRESNO, INC.
801 North Brand Blvd. a California cor or
Glendale, CA 91203 By:
-
By:
Acknowledgement by attorney-in-fact must be attached.
BONDFORM.DOC
Revised 12/30/02
CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
State of California
County of Orange
On February 20, 2004 before me, Dina Prints, personally
appeared Lawrence H. Thompson and Dee Baker, personally known to me to be the
persons whose names are subscribed to the within instrument and acknowledged to me
that they executed the same in their authorized capacity, and that by their signatures
on the instrument the person or the entity upon behalf of which the person
acted, executed the instrument.
Witness my hand and official seal. DINAPRWN
commialon#f 1453610
Notary PubNc -CaNloffft
ofange yNniv
' My Comm.ExpNo Nov25,
OPTIONAL
Though the data below is not required by law, it may prove valuable to persons relying on the document
and could prevent fraudulent reattachment of this form.
CAPACITY CLAIMED BY SIGNER SIGNER IS REPRESENTING:
Lawrence H. Thompson —Vice President Lennar Fresno, Inc.
Dee Baker- Assistant. Secretary Lennar Fresno, Inc.
DESCRIPTON OF ATTACHED DOCUMENT
Type of Document: Faithful Performance Bond No. 0871 9347
Number of Pages: Two (2)
Date of Document: February 19, 2004
Signers (other than those named above): Patricia H. Brebner
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT No.5907
State of California
County of Orange
On February 19, 2004 before me, Rhonda C.Abel,Notary public ,
DATE NAME,TITLE OF OFFICER-E.G.,"JANE DOE,NOTARY PUBLIC"
personally appeared Patricia H.Brebner
NAME(S)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
signature(s)on the instrument the person(s), or the entity upon
behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
r —°� RHONDA C.ABEL
�Q
iJ, COMM.# 1312777 9 SIGNATURE OF NOTARY
0,'.;. NOTARY PUBLIC-CALIFORNIA +0
2'�,/' ORANGE COUNTY n
a a;,
•;��.: COMM.EXP.AUG.9,2005
OPTIONAL
Though the data below is not required by law, it may prove valuable to persons relying on the document and
could prevent fraudulent reattachment of this form.
CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT
❑ INDIVIDUAL
❑ CORPORATE OFFICER
TITLE OR TYPE OF DOCUMENT
TITLE(S)
❑ PARTNER(S) H LIMITED
GENERAL
® ATTORNEY-IN-FACT
❑ TRUSTEE(S)
❑ GUARDIAN/CONSERVATOR NUMBER OF PAGES
❑ OTHER:
SIGNER IS REPRESENTING: DATE OF DOCUMENT
NAME OF PERSON(S)OR ENTITY(IES)
SIGNER(S)OTHER THAN NAMED ABOVE
S-4067/GEEF 2/98 01993 NATIONAL NOTARY ASSOCIATION•8236 Remmet Ave.,P.O.Box 7184•Canoga Park,CA 91309-7184
Executed in Duplicate
Bond Number: 0871 9347
Premium: Included in
performance bond
SUBDIVIDER'S PAYMENT BOND
(Subdivision Agreement)
WHEREAS, the City Council of the City of Fresno, State of California, and
Lennar Fresno, 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 ,
199 and identified as
project 5098 C-Bullard/Cornelia is hereby
referred to and made a part hereof; and,
WHEREAS, under 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
Six Hundred Fifty Four Thousand Five Hundred and no/100
dollars ($ 654,500.00 ), 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 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 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.
Subdivider's Payment Bond
(Subdivision Agreement)
Page 2
In witness whereof, this instrument has been duly executed by the principal and surety above
named, on February 19 , 20 04
FIDELITY AND DEPOSIT COMPANY OF MARYLAND
By:
By: Patricia H. Brebner, Attorney-in-Fact
Principal
Address of Surety
LENNAR FRESNO, INC.
801 North Brand Blvd. a California cor ora
Glendale, CA 91203 By' ^
By:
Acknowledgement by attorney-in-fact must be attached.
BONDFORM.DOC
Revised 12/30/02
CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
State of California
County of Orange
On February 20, 2004 before me, Dina Prints, personally
appeared Lawrence H. Thompson and Dee Baker, personally known to me to be the
persons whose names are subscribed to the within instrument and acknowledged to me
that they executed the same in their authorized capacity, and that by their signatures
on the instrument the person or the entity upon behalf of which the person
acted, executed the instrument.
Witness my hand and official seal. ori►
T ComnNrelon�r f 161610
Notary Puk�Nc-CaNtonda
Orange County
My Comm Expires Nov 28.2007
OPTIONAL
Though the data below is not required by law, it may prove valuable to persons relying on the document
and could prevent fraudulent reattachment of this form.
CAPACITY CLAIMED BY SIGNER SIGNER IS REPRESENTING:
Lawrence H. Thompson —Vice President Lennar Fresno, Inc.
Dee Baker- Assistant. Secretary Lennar Fresno, Inc.
DESCRIPTON OF ATTACHED DOCUMENT
Type of Document: Subdivider's Payment Bond No. 0871 9347
Number of Pages: Three (3)
Date of Document: February 19, 2004
Signers (other than those named above): Patricia H. Brebner
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT No.5907
State of California
County of Orange
On -- February 19, 2004 before me, Rhonda C.Abet,Notary Public ,
DATE NAME,TITLE OF OFFICER-E.G.,-JANE DOE,NOTARY PUBLIC-
personally appeared Patricia H.Brebner
NAME(S)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
signature(s) on the instrument the person(s), or the entity upon
behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
__6? �
RHONDA C.ABEL SIGNATURE OF NOTARY
COMM.# 1312777 9
„#c NOTARY PUBLIC-CALIFORNIA 0
ORANGE COUNTY 0
COMM.EXP.AUG.9,2005
OPTIONAL
Though the data below is not required by law, it may prove valuable to persons relying on the document and
could prevent fraudulent reattachment of this form.
CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT
❑ INDIVIDUAL
❑ CORPORATE OFFICER
TITLE OR TYPE OF DOCUMENT
TITLE(S)
❑ PARTNER(S) LIMITED
GENERAL
® ATTORNEY-IN-FACT
❑ TRUSTEE(S)
❑ GUARDIAN/CONSERVATOR NUMBER OF PAGES
❑ OTHER:
SIGNER IS REPRESENTING: DATE OF DOCUMENT
NAME OF PERSON(S)OR ENTITY(IES)
SIGNER(S)OTHER THAN NAMED ABOVE
S-4067/GEEF 2/98 01993 NATIONAL NOTARY ASSOCIATION•8236 Remmet Ave.,P.O.Box 7184•Canoga Park,CA 91309-7184
Power of Attorney
FIDELITY AND DEPOSIT COMPANY OF MARYLAND
KNOW ALL MEN BY THESE PRESENTS:That the FIDELITY AND DEPOSIT COMPANY OF MARYLAND,a
corporation of the State of Maryland,by PAUL C.ROGERS,Vice President,and T.E.SMITH,Assistant Secretary,in
pursuance of authority granted by Article VI,Section 2,of the By-Laws of said Company,w ' set forth on the reverse
side hereof and are hereby certified to be in full force and effect on the date hereof d s mate,constitute and
appoint Patricia H.BREBNER,of Irvine,California, its true and law d e t,to make,execute,
seal and deliver,for,and on its behalf as surety,and as its act a takings and the
execution of such bonds or undertakings in pursuan ° ,s n said Company,as fully and
amply,to all intents and purposes,as if t xec 0 ged by the regularly elected officers of
the Company at its office in Ba raj h it r his power of attorney revokes that issued on
behalf of Patricia H Se e
The said Assistant at the extract set forth on the reverse side hereof is a true copy of Article VI,
Section 2,of the By- ° y,and is now in force.
IN WITNESS W OF, the said Vice-President and Assistant Secretary have hereunto subscribed their names and
affixed the Corporate Seal of the said FIDELITY AND DEPOSIT COMPANY OF MARYLAND,this 4th day of February,
A.D.2003.
ATTEST: FIDELITY AND DEPOSIT COMPANY OF MARYLAND
'gyp 9EPps�r
ti IQ p
.r e
�
By:
Y
T. E. Smith Assistant Secretary Paul C. Rogers Vice President
State of Marylandl ss:
City of Baltimore f
On this 4th day of February, A.D. 2003, before the subscriber, a Notary Public of the State of Maryland, duly
commissioned and qualified, came PAUL C. ROGERS, Vice President, and T. E. SMITH, Assistant Secretary of the
FIDELITY AND DEPOSIT COMPANY OF MARYLAND, to me personally known to be the individuals and officers
described in and who executed the preceding instrument, and they each acknowledged the execution of the same, and being
by me duly sworn,severally and each for himself deposeth and saith,that they are the said officers of the Company aforesaid,
and that the seal affixed to the preceding instrument is the Corporate Seal of said Company, and that the said Corporate Seal
and their signatures as such officers were duly affixed and subscribed to the said instrument by the authority and direction of
the said Corporation.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my Official Seal the day and year first above
written.
"U- IJL- tA"-MA-r
Sandra Lynn Mooney Notary Public
My Commission Expires: January 1,2004
POA-F 012-5025M
ZURICH
THIS DAPORTANT DISCL05URE NOTICE IS PARI' OF YOUR BOND
Fidelity and Deposit Company of Maryland,Colonial American Casualty and Surety Company,Zurich American
Insurance Company,and American Guarantee and Inability Insurance Company are making the following
informational disclosures in compliance with The Terrorism Risk Insurance Act of 2002. No action is requited on your
per•
Disclosure of Terrorism Premium
The premium charge for risk of loss resulting from acts of terrorism(as defined in the Act)under this bond is
$ waived_. This amount is reflected in the total premium for this bond.
Disclosure of Availability of Coverage for Terrorism Losses
As required by the Terrorism Risk Insurance Act of 2002,we have made available to you coverage for losses resulting
from acts of terrorism(as defined in the Act)with terms,amounts,and limitations that do not differ materially as those
for losses arising from events other than acts of terrorism.
Disclosure of Federal Share of Inaurance Company's Terrorism Losses
The Terrorism Risk Insurance Act of 2002 establishes a mecbanism by which the United States government will share
in insurance company losses resulting from acts of terrorism(as defined in the Act)after a i nsumnee company has paid
Iowa in excess of an annual aggregate deductible. For 2002,the insurance company deductible is 1%of direct earned
premium in the prior year;for 2003,7a/o of direct earned premium in the prior year; for 2004, 10%of direct earned
pr+emivan in the prior year; and for 2005, 15%of direct earned premium in the prior year. The federal share of an
insurance company's losses above its deductible is 90%. In the event the United States government participates in
losses,the United States govemmect may direct insurance companies to collect a terrorism surcharge from
policyholders. The Act does not currently provide for insurance industry or United States government participation in
terrorism losses that exceed$100 billion in any one calendar year.
Definition of Act of Terrorism
The Terrorism Risk Insurance Act defines "act of to rorism"as any act that is certified by the Secretary of the Treasury,
in concurrence with the Secretary of State and the Attorney General of the United States-
1. to be an act of terrorism;
2. to be a violent act or an act that is dangerous to human,life,property or infrastructure;
3. to have resulted in damage within the United States, or outside of the United States in the case of an air carrier
(as defined in section 40102 of title 49,United 17 States Code)or a United States flag vessel (or a vessel based
principally in the United States,on which United States income tax is paid and whose insurance coverage is
subject to regulation in the United States),or the premises of a United States mission; and
4. to have been committed by an individual or individuals acting on behalf of any foreign person or foreign
interest as part of an effort to coerce the civilian population of the United States or to influence the policy or
affect the conduct of the United States Government by coercion.
But,no act shall be certified by the Secretary as an act of terrorism if the act is committed as part of the course of a war
declared by Congress (except for workers' compensation)or property and casualty insurance losses resulting from the
act,in the aggregate,do not exceed$5,000,000.
These disclosures are informational only and do not modify your bond or affect your rights under the bond.
Copyright Zurich American Insurance Company 2003