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HomeMy WebLinkAboutT-6030 - Cashier Memo - 5/8/2018 u, y of ITeem-t%-aI MEMORANDUM! rn=u a v. ., PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: May 8, 2018 TO: YOLANDA SMITH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 6030 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING. 1. Performance Bond in the amount of$3,544,000.00 2. Payment Bond in the amount of$1,865,500.00 3. 5% Performance Security a. Certificate of Deposit in the amount of$187,000.00 (California Bank&Trust) 4. Document preparation fees deposit into 180203 10101 34559 a. Check in the amount of$7,760.00 (California Bank&Trust. No. 22-00091679) 5. The Balance on Exhibit B of the Subdivision Agreement a. Check in the amount of$584,964.55 (California Bank&Trust. No. 22-00091678) 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 01y of �>s��■� MEMORANDUM ff-i =j PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: April 30, 2018 RECEIVED TO: HEIDI BRIGGS Personnel Services Department CITY OF FRESNO Personnel-50"VICES Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: REQUEST FOR BOND APPROVAL FOR THE FINAL MAP OF TRACT NO. 6030 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: $3,544,000.00 2- Payment Bond in the amount of: $1,865,500.00 If you have any questions, please contact me at 621-8684. Thank you. Jonathan Bartel RISK MANAOSMINT DIVISION 4IgApprovod [� ppmed w/Chenges U ned Date Bond No.• 7063155 Premium: $17,720 for a one year term SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Fowler Development Company, Inc. ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 6030 is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and Developers Surety and Indemnity Company as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of Three Million Five Hundred Forty Four Thousand and 00/100 dollars ($ 3,544,000 1 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 April 24 , 2018 Principal: Fowler Development Company, Inc. By: (Principal) µ Surety: Developers Surety and Indemnity Company By: Zt (Surety) Kyle Wilson, Attorney-in-Fact 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 Fresno On April 25, 2018 before me, Madelyn Cuellar, Notary Public (insert name and title of the officer) personally appeared Darius Assemi who proved to me on the basis of satisfactory evidence to be the person(&) whose name(&) War-a subscribed to the within instrument and acknowledged to me that he/s#eMgey executed the same in his/kefA+t >r authorized capacity44), and that by his/AeOtheif signature(&) on the instrument the person(&), or the entity upon behalf of which the person(}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. MADELYN CUELLAR WITNESS my hand and official seal. COM-W810#2103017 Notary Pubk-CaNlornla Fresno county VY--�n t"&M.1=Mar 13,2019 (Seal) Signature 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, aecurcacl,. or validity of that document. State of CALIFORNIA County of FRESNO On April 24,2018 before me, Christine Bagetakos,NOTARY PUBLIC,personally appeared Kyle Wilson, 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. I certify under the PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. CHRISTINE BAGETAKOS NotaryPublic-California WITNESS my hand and official seal. Fresno County Commission#2200014 My Comm,Expires Jun 3,2021 Signature of Notary 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 ❑ PARTNER(S) ❑ LIMITED ® ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S)OR ENTITY(IES) CA-ICW 24(7/00) POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO Box 19725,IRVINE,CA 92623(949)2633300 KNOW ALL BY THESE PRESENTS that except as expressly limited,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,do each hereby make,constitute and appoint: '*`Kyle Wilson, Donna M Smith,Kimberly Wilson,Nicole Caskey,Wayne Lamb,jointly or severally''' as their true and lawful Attamay(s}in-Fad,to metre,execute,deliver and acknowledge,for end on behaff of said oorporations,as sureties,bonds,undertakings and contracts of suretyship giving and granttrrg unto said Attorney(s)-in Fact full power and authodty to do and to perform every act necessary,requisite or proper to be done In connection theremb as each of said corpm6wa could do,but resaMng to each of said corporations full power of substitution and ravocatlon,and a of the acts of said Alltornay(s)4n-fad,purauanI to chase presents,are hereby raffled and confirmed. This Paver of AComey Is granted and is soad by facslmia under and by authority of the following resolutions adopted by the respective Boards of Directors of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,e0ective as of January 1st,2008. RESOLVED,that a combination of any two of the Chairman of the Board,the President Executive Vice-President Senior Yrca President or any Moe President of the corporations be,and that each of them hereby Is,authorized to execute this Power of Attorney,quafifft the attomay(s)named m the Power of Attorney to execute,on behalf of the ouWations,bonds,undertakings and contracts of suretyship;and that the Secretary or any Assistant Secretary of either of the corporations be,and each of them hereby is,authorized to attest the execution of any such Power of Attorney; RESOLVED,FURTHER,that the sig naturas of such otTicars may be affixed to any such Pourer of Attomay or to any certif=fe relating thereto by facsimile,and any such Power of Attorney cur cotdcate bearing such facsimile signatures shell be valid and binding upon the corporations when so affixed and in tha future with respect to any frond,undertaking or contract of sumWfp to whish it is attachad. IN WITNESS WHEREOF,DEVELOPERS SURETYAND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA have severally caused these presents to be signed by their respective officers and altested by their resperdive Secretary orAsslathnt Secretary this 6th day of February,2017. riAno '' aVPAAYpn D;6niYbL:trtg,Seni�Vk*Presidsnt = o i h��G p Pogo'C, v 193b r s;s fie o By. 1 Q �,r � o c, Marin Landon,Mcs-President y ` •.....• 441FQR'�� op A notary public or other officer completing this certificate verifies only the Identity of the Individual Who stpned the document to which this cadif!cate Is atlached,and not the truthfulness,accura cy,or val IdAy of that document. State of Cafifomie County of orange On February 6 2017 before me, - Lucr7la Raymond,Notary PyWc oma HM Novi NWO 9d Two atsm rxrnr personally appeared Can IN Young and Mark I-artsdan ncq{Oat3r -11) who proved to me on the basis of satisfactory evidence to be the persons)whose name(s)islare subscribed th the within instrument and admoxrledged to me that hakhebey executed the same In his/he their authorized rapaaty(ies).and that by his/heribEJ signatures)on the instrument the penson(s),or the entity upon behalf of tUCIL.LE RAYMM which the pefson(a)acted,executed the instrument COr1Hf1ISSI01n fit 2001918 Notary PYbIIC•CellfOmis 1 certify under PENALTY OF PERJURY under the laws of the Slate of CaRmile that the foregoing paragraph Is Omoe Courdytrue and owed M Comm.Wira Oct 13 i 2019 WITNESS my hand and official seal. Place Notary Seal Above Signabire Lueil', and,Notary Public CERTIFICATE The undersigned as Secretary orAssMmt Secretary of DEVELOPERS SURETY AND INDEMNITY COMPANY or INDEMNITY COMPANY OF CALIFORNIA,does hereby certify that the foregoing Power ofAttomey remains th full force and has not been revoked and,furthermore,that the provisions of the resolutions of the respective Boards of Dlrectors of said corporations act forth In the Poorer of Aftomey are In force as of the dale of fhls Centiticate. /This �Certificate Ed executed in the City of Indne,Celifomth,this 24th day of Ap r i 1 2018, s,'r`'�v AND qy'yS GO►t ANY o LTRR o Castle J.. ford,Asssstsnt SoOtEry ATS-1002(02117) •'�4�0•� ���� �°'*tr*Rhe /nww Bond No.: 7063155 Premium: Included SUBDIVISION IMPROVEMENT PAYMENT BOND Whereas, the City Council of the City of Fresno, State of California, and Fowler Development Com any, 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. 6030 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 Developers Surety and Indemnity 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 Eight Hundred Sixty Five Thousand Five Hundred and 00/100 _dollars ($ 1,865,500 ), 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 April 24 , 20 18 Principal: Fowler Development Company, Inc. By: ( ri ipal) U Surety: Developers Surety an demnity Company By: (Surety)Kyle Wilson, Attorney-in-Fact 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 Fresno ) On April 25, 2018 before me, Madelyn Cuellar, Notary Public (insert name and title of the officer) personally appeared Darius Assemi who proved to me on the basis of satisfactory evidence to be the person( whose name(e) isk-+re- subscribed to the within instrument and acknowledged to me that he/&eAtiey executed the same in his/he49ietr authorized capacity(4ee), and that by his/4e A-heir signature(&) on the instrument the person(o, or the entity upon behalf of which the person(-0 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. - - - - - - - - - - - - - - - - - - - MADELYN CUELLAR WITNESS my hand and official seal. Conwdesion#►2103017 : Notary Public-Cal"Ornia Fresno County Comm.LIMB Mar 13,2019 Signature �� (Seal) 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 FRESNO On April 24, 2018 before me, Christine Bagetakos,NOTARY PUBLIC,personally appeared Kyle Wilson, 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. I certify under the PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. CHRISTINEBAGETAKOS WITNESS my hand and official seal. _ Notary Public-California Fresno County Commission#2200014 My Comm,Expires Jun 3,2021 Signature of Notary OPTIONAUFMW_ 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 ❑ PARTNER(S) ❑ LIMITED ® ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S)OR ENTITY(IES) CA-ICW 24(7/00) POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO Boa 19725,IRVINE,CA 92623(949)263.3300 KNOW ALL BY THESE PRESENTS that except as expressly limited,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,do each hereby make,constttute and appoint 'Kyle Wilson, Donna M Smith,Kimberly Wilson,Nicole Caskey,Wayne Lamb,jointly or severally`' as their true and lawful Atomey(s)-tn-Fact,to make,exacute,defier and adxnoWedge,fur andon behe of said corporations,as sureties,bonds,undertakings and contracts of suretyship girng end granting unto said Attomey(s)-in-Facl full power and authority to do and to perform every act necessary,requisite or proper to be done in connection therewith as each of said carporabons could do,but reserving to each of said corporations full power of aubsftboo and revocation,and a0 of the ads of said Alt mey(s)4n•Fact.pursuant to these Womb,are hereby ratified and oonfomed This Power of Attomey is granted and}s signed by facshils under and by authority of the following resdulions adopted by the respective Boards of Directors of DEVELOPERS SURETY AND INDEMNITY COMPANY end INDEMNITY COMPANY OF CALIFORNIA,effective as of January Isi,2908. RESOLVED,that a oanbination of any two of the Chairman of the Board,the President,Executive VioaPresiderd Senior VicaPresident or any Vice President of the corporations be,and that each of then hereby is,authorized to execute this Power of Attamey,quafrtying the ettorney(s)named m the Power of Attorney to execute,on behalf of the corporations,bonds,undertakings and contracts of suretyship;and that the Secretary or any Assistant Secretary of either of the oaporations be,and each of them hereby Is,authorized to attest the execution of any such Power of Attomay; RESOLVED,FURTHER,that the signatures e1 suxh officers may be aIfixed to any such Power of Attomay or to any certificate relating thereto by 11=bi lie,and any such Power of Attorney or cacti Wiz bearing such($whTe signalures shall be vaPd and binding upon the corporations when w affixed and in the future with rasped to any bond,undertaking or contract of suretyship to which it Is attached. IN WITNESS WHEREOF,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA have severally caused these presents to be slgned by their respective officers and abated by their respective Secretary orAuMant Secretary this 6th day of February,2017. B `".(q N H ll,,raga '�•. V,pAnrr o Daniel Young,Senior Vice-President a ` ��otspop.4 C, i {a % �= By. 1936 = °Css;5 �� wi�_ G c +r = Mark Landon,Vice-President X73 A notary public or other officer completing this cer06cale varffies only the Identity,of the Individual who signed the document to wh1ch this certificate Is attached,and not the truthfulness,accuracy,or valldity of that docx)menL State of California County of Orange On Febru b 2017 before me, Luc61e and N Public aeD K"tom NzwsdTALortoors. personally appeared Daniel Young and Mark Landon who proved to me on the basis of satisfactory evidence to be the pemon(s)whose name(s)is/are subscribed to ft wdhbm instrument and admowledged to me that heleheNhey executed the same In hisfierHheir authorved capecay(Pes),and that by hislhen Chair signati:re(s)on the instrument the person(s),or the entity upon behalf of LUCILLE RAYMOND which the parson(s)acted,exeDutedthe instrument. CottotWtilat f 2011948 Nolwy Public:•ChilftmIs I certify under PENALTY OF PERJURY under the laws of the Slate of Cardomia that the foregoing paragraph is Orange Gaudytrue and oarrect. Mv Comm.Wm Qct 18 2011 w WITNESS my hand and official seal. Place Notary Seel Above Signature Lueilt ond,Notary Pubic CERTIFICATE The undersigned as Seaelary orAssistant Secretary of DEVELOPERS SURETY AND INDEMNITY COMPANY or INDEMNITY COMPANY OF CALIFORNIA,does hereby certify that the foregoing Power of Attorney remains in fug force and Inas not been revoked and,furthermore,that the provisions of the reschutices of the respective Boards of Dlredors of said corporattom set forth In the Power of Attorney are In force as of the date of this CerMcete. r]This Certificate is executed N the City cf Irvine,California,this 24th day of April ,2 018. J �q AND,. •S ��qa act p BY I i i r3Sot s! rG�T.5 �Fa [L" is J6"1114,Assistan�ry i ori 1936 r o 1067 ATS-11002(02117) 5/7/2018 Company Profile CALIFORNIA DEPARTMENTOF COMPANY PROFILE Company Profile Company Search Company Information Company Information DEVELOPERS SURETY AND INDEMNITY COMPANY Old Company PO BOX 19725 Names IRVINE, CA 92623-9725 Agent for Service Reference Old Company Names Effective Date Information NAIC Group List Lines of Business Agent For Service Workers' KARISSA LOWRY Compensation 2710 GATEWAY OAKS DRIVE Complaint and SUITE 15ON Request for SACRAMENTO CA 95833 Action/Appeals Contact Information Financial Statements Reference Information PDF's Annual Statements NAIC #: 12718 Quarterly California Company ID #: 4606-0 Statements Company Complaint Date Authorized in California: 08/30/1999 Company Performance& License Status: UNLIMITED-NORMAL Comparison Data - — Company Company Type: Property &Casualty Enforcement Action State of Domicile: LIFORN CAIA Composite Complaints Studies Additional Info back to top Find A Company Representative In NAIC Group List Your Area View Financial Disclaimer NAIC Group #: 2538 AmTrust NGH 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 LEGAL INSURANCE LIABILITY MARINE MISCELLANEOUS hfps://interactive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfiile&doFunction=getCompanyProfile&eid=100170 1 5/7/2018 Company Profile PLATE GLASS SPRINKLER SURETY TEAM AND VEHICLE WORKERS' COMPENSATION back to top © 2008 California Department of Insurance https://interactive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfile&doFunction=getCompanyProfiile&eid=100170 2 5/7/2018 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center Developers Surety and Indemnity Company A.M. Best#: 011752 NAIC#: 12718 FEIN M 420429710 Mailing Address View Additional Address anancW Shwgt,Rating P.O. Box 19725 Information GEST Irvine, CA 92623-9725 A I3teallant United States Assigned to insurance companies that have, in our Web: www.amtrustsurety.com opinion, an excellent ability to Phone: 949-263-3300 meet their ongoing insurance Fax: 949-252-1959 obligations. View additional news, reports and products for this company. Based on A.M. Best's analysis, 051002 -AmTrust Financial Services, Inc 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 u (Excellent) Affiliation Code: r (Reinsured) Financial Size Category: XV ($2 Billion or greater) Implication: Negative Action: Under Review Effective Date: November 06, 2017 Initial Rating Date: January 29, 1996 Long-Term Issuer Credit Rating View Definition Long-Term: a u Implication: Negative Action: Under Review Effective Date: November 06, 2017 Initial Rating Date: June 06, 2007 http://ratings.ambest.com/SearchResults.aspx?AltSrc=9 1/4 5/7/2018 Developers Surety and Indemnity 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. Director: Jennifer Marshall, CPCU, ARM Senior Director: Michael J. Lagomarsino, CFA, FRM Disclosure Information Disclosure Information Form View A.M. Best's Rating Disclosure Form Press Release A.M. Best Places Credit Ratings of AmTrust Financial Services, Inc. and Subsidiaries Under Review With Negative Implications November 06, 2017 Rating History A.M. Best has provided ratings &analysis on this company since 1996. Financial Strength Rating Effective Date Rating 11/6/2017 A u 2/27/2017 A 7/8/2016 A 5/29/2015 A 5/30/2014 A 1/8/2014 A 9/20/2013 A- u 6/17/2013 A- Long-Term Issuer Credit Rating Effective DateRating http://ratings.ambest.com/SearchResults.aspx?AltSrc=9 2/4 5/7/2018 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center 11/6/2017 a u 2/27/2017 a 7/8/2016 a 5/29/2015 a 5/30/2014 a 1/8/2014 a 9/20/2013 a- u 6/17/2013 a- 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: 11/6/2017 (represents the latest significant change). I Historical Reports are available in Best's Credit Report Archive. View additional news, reports and products for this company. Press Releases Date Title Nov 06,2017 A.M. Best Places Credit Ratings of AmTrust Financial Services,Inc.and Subsidiaries Under Review With Negative Implications May 25, 2017 A.M. Best Comments on Credit Ratings of AmTrust Financial Services,Inc.and Subsidiaries Following Common Equity Raise Feb 27, 2017 A.M. Best Revises Outlooks to Negative and Affirms Credit Ratings of AmTrust Financial Services, Inc.and Its Subsidiaries Jul 08,2016 A.M.Best Affirms Ratings of AmTrust Financial Services,Inc.and Its Subsidiaries May 29,2015 A.M. Best Affirms Ratings of AmTrust Financial Services,Inc.and Its Subsidiaries Apr 23,2015 A.M. Best Places Ratings of Springfield Insurance Company Under Review With Positive Implications Jan 08,2014 A.M. Best Upgrades Ratings of Developers Surety and Indemnity Company and Indemnity Company of California Sep 20,2013 A.M. Best Places Ratings of Developers Surety and Indemnity Company and Indemnity Company of California Under Review R A....» -ins n a h r3„-a n_..:-_- i....n_.._I —.J i—.J .J sa»r..L..:.J:_�. Find a Best's Credit Rating Enter a Company NamerGo 1 http://ratings.ambest.com/SearchResults.aspx?AltSrc=9 J 3/4 5/7/2018 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center Advanced Search How to Got a A+ Best's Credit Rating Best's Credit Ratings Mobile App 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. 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For additional information regarding the use and limitations of Credit Rating opinions, as well as the rating process, information requirements and other rating related terms and definitions, please view Understanding Best's Credit Ratings. About I Site Map I Customer Service I My Account I Contact I Careers I Terms of Use I Privacy Policy I Security I Legal& Licensing Regulatory Affairs-Form NRSRO-Code of Conduct-Rating Methodology-Historical Performance Data Copyright©2018 A.M. Best Company, Inc.and/or its affiliates ALL RIGHTS RESERVED. http://ratings.ambest.com/SearchResults.aspx?AltSrc=9 4/4 W AUTOMATICALLY RENEWABLE Q C B CALIFORNIA . BANK E1 TR��S� TRUST LCL I- Y ISSUED AT—Fresno Main OFFICE Fresno CA DATE 4/2 5/2 01 8 Q' W (CITY OR TOWN) (STATE, wT Fowler Development Company Inc 5790400575 UQ :-:-I:iiGmER NAME (CUSTOraER NIJ*TuFi,. --- . One Hundred Eighty Seven Thousand and No/100 DOLLARS el 871_000 00 � LLj m HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK 3 TRUST PAYABLE TO OR ORDER UPON MATURITY Q AS FERLINAFTER SPECIFIED AND UPON PRESENTATION AND SURRENDER OF THIS CERTIF!CATE.PROPERLY ENDORSED,AT THE ABOVE OFFICE A ~ THE MATURITY OF THIS CERTIFICATE WILL BE AFTER DATE,AND SUCH MATURITY WILL BE AUTO VATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS L. 0 UNLESS:(A)ATLEAST TEN 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 Z RECORDS OF BANK'S ELECTION TO PAY THE DEPOSIT AT SUCH ORIGINAL OR ANY EXTENDED MATURITY.OR (B) UPON OR WITHIN TEP; DAYS AFTER SUCH ORIGINAL OR ANY EXTENDED MATURITY DATE,THIS CERTIFICATE IS PRESENTED AND SURRENDERED FOR PAYMENT. SAID DEPOSIT BEARS.SIMPLE INTEREST AT THE RATE OF —10 ',; PER ANNUM F FROM DATE HEREOF UNTIL ULTIMATE MATO RITY.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 r BANK.THE RATE OF INTEREST IS SUBJECT TO CHANGE BY BANK WITHOUT NOTICE,TO THE EXTENT NECESSARYTO COMPLY WITH ANY LAVJ OR GOVERNMENTAL REGULATION AFFECTING THE DEPOSIT. AUTHORIZED SIGPIATURE OPS-1(05/09( California Bank &Trust Assemi Group, Inc 7060 N. Fresno 11-204/1210 1396 W. Herndon Ave., #101 Fresno, CA 93720 Fresno, CA 93711 jDate Check Number Apr 23, 2018 22-00091679 Amount Pay *Seven Thousand Seven Hundred Sixty Dollars 00 Cents* $7,760.00 C Assemi Group, Inc To City of Fresno-Public Works Dept. The 2600 Fresno Street, Room#4011 Order Fresno, CA 93721 Per Of P ABLE IN US DOLLARS 1110009 L6 7911' 1s L 2 L00 204 21: 5 79 38 3809411' v v r a � � •.• i :a•� California Bank &Trust Assemi Group, Inc 7060 N. Fresno 11-204/1210 j 1396 W. Herndon Ave., #101 Fresno, CA 93720 Fresno, CA 93711 I Date Check Number Apr 23, 2018 22-00091678 Amount Pay _ *Five Hundred Eighty Four Thousand Nine Hundred Sixty Four Dollars* $584,964.55 *55 Cents* Ass i Group, Inc To City of Fresno } The 2600 Fresno Street �j Order Fresno, CA 93721-5017 F'er 1 Of PAYABLE IN US DOLLARS 1160009 16 7811' 1: L 2 L00 204 21: 5 79 38 3809411' Account Number:5 7 9 0 4 0 0 5 7 5 Security Amount: $187,000.00 ASSIGNMENT (Subdivision Agreement) SECURITY FOR: FOWLER DEVELOPMENT COMPANY INC Hereinafter called ASSIGNOR,whose principal place of business is 1396 W.Herndon#10I Fresno CA 93711 do(does)hereby assign,and set over to the City of Fresno of the State of California,all right, title,and interest of whatever nature,of assignor,in and to the insured account of assignor in the CITY OF FRESNO,evidenced by CERTIFICATE OF DEPOSIT in the amount of $1187,000.00 number 5790400575 which is to be delivered to the City of Fresno herewith. Assignor agrees that this assignment caries with it the right in the insurance of the account by the Federal Deposit Insurance Corporation,and includes and gives the right to the City of Fresno to redeem,collect,and withdraw the full amount as indicated above at any time WITHOUT NOTICE TO ASSIGNOR. This assignment is given as security for liability for Tract 6030—Fowler Development Inc-Yearly Term _ including interest and penalties,and to insure compliance with the applicable code or ordinances of the City of Fresno,State of California. Assignor hereby notifies the above named Bank of the assignment. Dated this 25th day of April ,2018 Fowler Development Company Inc a California Corporation I3v: . Joon Hollrah,CFO RECEIPT FOR NOTICE OF ASSIGNMENT Receipt is hereby acknowledged to the City of Fresno of the State of California of written notice of the assignment to the City of the account identified above. We have noted in our records the City's interest in the account as shown by the above assignment and have retained a copy of this sheet. We certify that this account is fully insured by the Federal Deposit Insurance Corporation and that we have received no notice of any lien,encumbrance,hold,claim or obligation of the above identified account prior to the assignment to the City of Fresno. We agree to make payment to the City of Fresno upon request in accordance with the Commercial Banking laws applicable to the institution. Dated this 25th day of April ,2018 California Bank&Trust, 7060 N.Fresno Street Fresno,CA 93720 Bank Name Branch Location City State By (1 � W-- N4 I LN -` Tid of Officer Raj odhi-Layne, VP & Branch Manager