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HomeMy WebLinkAboutT-5232 - Cashier Memo - 8/10/2007 City of 1T1ft1LWd_%1kI-\I/� 1 n ,-i SE MEMORANDUM DATE: May 10, 2007 TO: Rose Saldivar Public Works Department �CE,�Ea FROM: JONATHAN BARTEL Planning & Development Department, Planning Division pevd 4 SUBJECT: SUBMITTAL OF SECURITIES FOR TRACT NO. 5232. ATTACHED PLEASE FIND THE FOLLOWING ITEMS FOR TRACT NO. 5232. 1. Performance Bond in the amount of$13,773,000.00 2. Payment Bond in the amount of$7,249,000.00 3. Certificate of Deposit in the amount of$725,000.00 4. Certificate of Deposit in the amount of$54,100.00 5. E-mail from Karen Bradley regarding acceptance of form of CD 6. Check in the amount of$542,400.00 (Bank of America No. 851880) 7. Check in the amount of$866,562.58 (Bank of America No. 851844) 8. Payment Protest Letter 9. Copy of the Subdivision Agreement with Addendum for Rights-of Way Acquisition for Tract No. 5232. The total charges are more particularly itemized in Exhibit "A" and Exhibit"B" of the Subdivision Agreement. If you have any questions please contact me at 621-8076. Thank You, Jonathan Bartel Finance Control No. City of Fresno Security Deposit Form To: Finance Department - Accounting Division From: Rose Saldivar - Public Works Department CD X Passbook Other Deposited At: Bank Of The West, Visalia Ca Certificate/Acct. No: 088283965 Deposit Amount: $725,000.00 Maturity Date: 4/11/08 Depositor: Name: Centex Homes – Fancher Creek 1 Address: 1840 S Central Visalia, Ca 93277 Street City/State Zip Job Address: Tract 5232 Received By: Rose Saldivar, Public Works Engineering Date: 5/10/07 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip p� yes 6 3: Accepted By, Name ------------Date ------ Released By: Name Date k Type of Release: mailed Hand Delivered Date � Gate - ----— — 1 acknowledge receipt of the above referenced instrument: Signature: — Date Comments: ------- ,, 1,y r 4madlL. BAN"WEST CERTIFICATE OF DEPOSIT RECEIPT Branch Name: Visalia- 00088 Date of Deposit: 04/11/2007 Account Number: 088283965 Amount of Deposit: $725,000.00 Today's Date: 04/11/2007 Maturity Date: 04/11/2008 Branch Approval: Donna Gallian Initial Interest Rate: 4.17 Customer Name CENTEX HOMES FANCHER CREEK 1 Initial Annual Percentage Yield: 4.25 and Address TRACT 5232 FBO CITY OF FRESNO Interest Payment Method: Pay by Check 801 S AKERS VISALIA, CA 93277 Pay Interest to Account #: 000000000 Interest Payment Frequency: 1 Month(s) Phone 5r,ry_1 3 3- �, ), Term: 12 Months Renewal: Automatically Renew Deposit receipt not needed for redemption. Thank you for opening a Certificate of Deposit with Bank of the West.Your account has been opened for the amount and terms shown above. Any questions regarding your Certificate of Deposit can be answered by your branch or by calling the Bank's Telephone Banking Center(800-488-BANK or 408-947-5030). INFORMATION REGARDING CERTIFICATE OF DEPOSIT ACCOUNTS ao eV Minimum Opening Balance $ .)6 Ofd Minimum balance required to earn APY $ 6V 0tO ADDITIONAL DEPOSITS- If you wish to add funds to your Certificate, you may do so during the 10 calendar day grace period following the account's maturity date. For /-Zff days Certificates, you may add funds during the 1 calendar day grace period following the maturity date. Interest on the additional funds both cash and noncash begins to accrue on the business day you deposit it and at the same rate in effect for the renewed Certificate. The additional funds will mature at the same time as the renewed Certificate. The minimum amount for an additional deposit is $100.00. WITHDRAWALS-Interest which has been reinvested may be withdrawn at any time, if the account term and interest rate have not changed since the renewal.Additional withdrawals without penalty are permitted, during the 10 calendar day grace period following maturity (1 calendar day grace period for 7-31 days Certificates) for automatically renewable Certificates, or upon the death or mental incapacity of the depositor. Accounts closed during the grace period will forfeit any interest accrued during the grace period. Withdrawals at any other time may be permitted at the bank's discretion and are subject to early withdrawal penalties. INTEREST - Interest is accrued on the daily balance. The annual percentage yield assumes that interest earned is reinvested in the account monthly and all funds remain on deposit for one year from the date of deposit, and the interest rate does not change. Interest withdrawn during the term of the account will reduce the annual percentage yield earned. TERMS OF 32 DAYS OR LONGER - You may choose the frequency of interest payments. Interest can be paid as frequently as monthly, but must be paid at least once a year. Interest may be reinvested into the account, credited to another Bank of the West checking or savings account, or paid by check. TERMS OF 7-31 DAYS -You will receive interest at maturity only. Interest may be reinvested into the Certificate of Deposit, or as a deposit to a Bank of the West checking or savings account. MATURITY - Automatically renewable Certificates of Deposit renew automatically at the rate in effect on the maturity date, for the same term and under t-1e ame conditions last disclosed(unless we tell you otherwise). We will mail a maturity notice approximately 15 days prior to the maturity date (except for 7-14 days terms). The notice will include a phone number you can call on the maturity date (or shortly after) to find out the interest rate and annual percentage yield on your renewed Certificate of Deposit. A non-renewable Certificate of Deposit will not earn interest beyond the maturity date, and will not renew automatically at maturity. EARLY WITHDRAWAL PENALTIES-All penalties are calculated on a simple interest basis. The penalty assessed may reduce the balance remaining on your account after the wit drawal. The penalty is calculated at the interest rate in effect at the time the Certificate of Deposit was opened or last renewed. The penalties on the amount withdrawn are: 7-31 DAYS TERM - 7 days simple interest lost, 32 DAYS - 1 YEAR TERM - 30 days simple interest lost,or OVER 1 YEAR TERM- 180 days simple interest lost. CHANGES IN TERMS & CONDITIONS-When you open a deposit account with us,you agree to abide by the terms &conditions detailed on this page and in the Account Agreement you sign. We can change these terms&conditions at any time. We'll notify you in advance of any changes that affect your rights and obligations to the extent required by law. You indicate that you accept a change we make by continuing your account relationship with us or, if the change affects your certificate of deposit,by allowing the certificate to renew after the change becomes effective. DISCLOSURE OF YOUR ACCOUNT - Account Information may be disclosed to third parties when it is required for governmental reporting for legal processes, or to persons or companies who the Bank believes would legitimately use such information. Certain transactions are also authomatically reportable to the government. OTHER INFORMATION REGARDING DEPOSIT ACCOUNTS-Additional information pertaining to the rules & regulations governing deposit accounts can e provided if you request a current copy of the bank o the West Deposit Account Disclosure which is available by phone or in person at any of the Bank's branch offices. You may also call our Telephone Banking Center and request that we send you a Deposit Account Disclosure. NON-NEGOTIABLE NOT TRANSFERABLE Aarnagr:R FDIC 120-01820(Rev.11/06) Time0epositReceipt t Account Number: T` Security Amount: ASSIGNMENT (Subdivision Agreement) SECURITY FOR: RDma hereinafter called ASSIGNOR, whose principal place of business is Street City State Zip Code 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 &n,k t P 41% Wt4t , evidenced by N}. o-� ' W-i" in the amount of$"19-51 b0c number 082S—Z9-2,%S which is to be delivered to the City of Fresno herewith. Assignor agrees that this assignment carries 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 I—Yad-- 5232-. cytt;.k-- r� har=e 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 this assignment. _ Dated this 4b day of ��1 , 2001 . Name & Title of Assignor �Lo�'TYANtS �v�`�-ti`v' C$v�tie��fX' RECEIPT FOR;NOTICEr=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 l I day of A ' 2001 WtA± S. fljtm,JQ <xka b;_?7 B k Name Branch Loc- ationo City State ame VTitle of Officer Finance Control No. City of Fresno Security Deposit Form To: Finance Department - Accounting Division From: Rose Saldivar - Public Works Department CD X Passbook Other Deposited At: Bank Of The West, Visalia Ca Certificate/Acct. No: 088284047 Deposit Amount: $54,100.00 Maturity Date: 4/11/08 Depositor: Name: Centex Homes — Fancher Creek 1 Address: 1840 S Central Visalia, Ca 93277 Street City/State Zip Job Address: Tract 5232 Received By: Rose Saldivar, Public Works Engineering Date: 5/10/07 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip FINANCE USE ONLY Accepted.By: ------------- ----- Name Date Releasers Name Nate Type of Release: Mailed _ _--- - - -- Nand Delivered Date---- - Date I acknowledge receipt of the above referenced instrument: Signature: Comments: ' BAMK&WEST CERTIFICATE OF DEPOSIT RECEIPT Branch Name: Visalia - 00088 Date of Deposit: 04/11/2007 Account Number: 088284047 Amount of Deposit: $54,100.00 Today's Date: 04/11/2007 Maturity Date: 04/11/2008 Branch Approval: Donna Gallian Initial Interest Rate: 4.07 Customer Name CENTEX HOMES FANCHER CREEK 1 Initial Annual Percentage Yield: 4.15 and Address TRACT 5232 FBO CITY OF FRESOO Interest Payment Method: Pay by Check 801S AKERS �a- VISALIA, CA 93277 Pay Interest to Account #: 000000000 Interest Payment Frequency: 1 Month(s) Phone C>S�'_ j_ `1 -7 Term: 12 Months Renewal: Automatically Renew Deposit receipt not needed for redemption. Thank you for opening a Certificate of Deposit with Bank of the West.Your account has been opened for the amount and terms shown above. Any questions regarding your Certificate of Deposit can be answered by your branch or by calling the Bank's Telephone Banking Center(800-488-BANK or 408-947-5030). INFORMATION REGARDING CERTIFICATE OF DEPOSIT ACCOUNTS 00 d 00 Minimum Opening Balance $ A5oc—_ Minimum balance required to earn APY $ /d0, 00 ADDITIONAL DEPOSITS- If you wish to add funds to your Certificate, you may do so during the 10 calendar day grace period following the account's maturity date. For 7-T1_ days Certificates, you may add funds during the 1 calendar day grace period following the maturity date. Interest on the additional funds both cash and noncash begins to accrue on the business day you deposit it and at the same rate in effect for the renewed Certificate. The additional funds will mature at the same time as the renewed Certificate. The minimum amount for an additional deposit is $100.00. WITHDRAWALS-Interest which has been reinvested may be withdrawn at any time, if the account term and interest rate have not changed since the renewal.Additional withdrawals without penalty are permitted, during the 10 calendar day grace period following maturity(1 calendar day grace period for 7-31 days Certificates) for automatically renewable Certificates, or upon the death or mental incapacity of the depositor. Accounts closed during the grace period will forfeit any interest accrued during the grace period. Withdrawals at any other time may be permitted at the bank's discretion and are subject to early withdrawal penalties. INTEREST - Interest is accrued on the daily balance. The annual percentage yield assumes that interest earned is reinvested in the account monthly and all funds remain on deposit for one year from the date of deposit, and the interest rate does not change. Interest withdrawn during the term of the account will reduce the annual percentage yield earned. TERMS OF 32 DAYS OR LONGER - You may choose the frequency of interest payments. Interest can be paid as frequently as monthly, but must be paid at least once a year. Interest may be reinvested into the account, credited to another Bank of the West checking or savings account, or paid by check. TERMS OF 7-31 DAYS -You will receive interest at maturity only. Interest may be reinvested into the Certificate of Deposit,or as a deposit to a Bank of the West checking or savings account. MATURITY - Automatically renewable Certificates of Deposit renew automatically at the rate in effect on the maturity date, for the same term and under the same conditions last disclosed (unless we tell you otherwise). We will mail a maturity notice approximately 15 days prior to the maturity date (except for 7-14 days terms). The notice will include a phone number you can call on the maturity date (or shortly after) to find out the interest rate and annual percentage yield on your renewed Certificate of Deposit. A non-renewable Certificate of Deposit will not earn interest beyond the maturity date,and will not renew automatically at maturity. EARLY WITHDRAWAL PENALTIES- All penalties are calculated on a simple interest basis. The penalty assessed may reduce the balance remaining on your account after the withdrawal. The penalty is calculated at the interest rate in effect at the time the Certificate of Deposit was opened or last renewed. The penalties on the amount withdrawn are: 7-31 DAYS TERM - 7 days simple interest lost, 32 DAYS - 1 YEAR TERM - 30 days simple interest lost,or OVER 1 YEAR TERM- 180 days simple interest lost. CHANGES IN TERMS & CONDITIONS- When you open a deposit account with us, you agree to abide by the terms &conditions detailed on this page and in the Account Agreement you sign. We can change these terms&conditions at any time. We'll notify you in advance of any changes that affect your rights and obligations to the extent required by law. You indicate that you accept a change we make by continuing your account relationship with us or, if the change affects your certificate of deposit,by allowing the certificate to renew after the change becomes effective. DISCLOSURE OF YOUR ACCOUNT - Account Information may be disclosed to third parties when it is required for governmental reporting for legal processes, or to persons or companies who the Bank believes would legitimately use such information. Certain transactions are also authomatically reportable to the government. OTHER INFORMATION REGARDING DEPOSIT ACCOUNTS-Additional information pertaining to the rules & regulations governing deposit accounts can be provided if you request a current copy of the an o the West Deposit Account Disclosure which is available by phone or in person at any of the Bank's branch offices. You may also call our Telephone Banking Center and request that we send you a Deposit Account Disclosure. NON-NEGOTIABLE NOT TRANSFERABLE 120-01820(Rev.11/06) TimeDepositReceipt Account Number: Security Amount: ASSIGNMENT (Subdivision Agreement) SECURITY FOR: C �tX hereinafter called ASSIGNOR, whose principal place of business is Street City State Zip Code 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 v wt2�t , evidenced by__ k.aD o� in the amount of $ S 04 _ number pSa- L t q7 which is to be delivered to 646 City of Fresno herewith. Assignor agrees that this assignment carries 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 ��,232. l �rL� D�lDl�k 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 this assignment. Dated this day of 20 `1 \ Name & Title of Assignor �co-�} Ti-uar t s cam►�on (,cm-t-rn 11�-v' 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 /1' day of&hc_L ' 20c 7 2-t I S M Bank Name Branch Locatio City State By. ame Title of Officer Finance Control No. City of Fresno Security Deposit Form To: Finance Department - Accounting Division From: Rose Saldivar - Public Works Department CD Passbook Other Subdivision Improvement Performance Bond Deposited At: The Continental Insurance Company Certificate/Acct. No: 929423691 Deposit Amount: $13,773,000.00 Maturity Date: Depositor: Name: Centex Homes — Fancher Creek 1 Address: 1840 S Central Visalia, Ca 93277 Street City/State Zip Job Address: Tract 5232 Received By: Rose Saldivar, Public Works Engineering Date: 5/10/07 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip FINANCE USE ONLY k Accepted By; - - -- -- - -- - - Name Date Released By:._.�. :._ v __... .__- Name Date Type of Release: Mailed Hand Delivered --- - - „, Date Date I acknowledge receipt of the above referenced instrument: signature: a_ e.�_ _ _._. _ Date------- 0 �- Bond No.: 929423691 SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and CENTEX HOMES, A NEVADA GENERAL PARTNERSHIP ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 5232 is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and THE CONTINENTAL INSURANCE COMPANY as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of THIRTEEN MILLION, SEVEN HUNDRED SEVENTY THREE THOUSAND & 00/100 dollars ($ 13 773.000.00 ) 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 APRIL 11. _, 20 07 . Principal: CE)(TEX HOMES, A NEVADA GENERAL PARTNERSHIP By: (Principa Surety: THE CONTINENTAL INSURANCE COMPANY (Surety) TE*I MORRISON, ATTORNEY-IN-FACT CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT No.5907 State of �-c County of �--- On Lkm 24 before me, l v 11 yo - ATE �"�1TAME,TITLE OF OFFICER-E.G.,"JANE D E,NOTARY PUB IC" personally appeared � � t. t Ls. 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 CARMEN NAVARRO behalf of which the person(s) acted, executed the instrument. COMM.#1560815 3 NOTARY PUBLIC CALIFORNIA n TUTARE COUNTY -' Comm.Exp.MARCH 18,2009 WITNESS my hand and official,seal. _-0tGVk_fUICE OF NOT Y 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 54067/GEEF 2/98 ©1993 NATIONAL NOTARY ASSOCIATION-8236 Remmet Ave.,P.O.Box 7184-Canoga Park,CA 91309-7184 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT No.5907 State of Texas County of Harris On April 112007 before me, Tannis Mattson,Notary Public DATE NAME,TITLE OF OFFICER-E.G.,"JANE DOE,NOTARY PUBLIC' personally appeared Terri Morrison 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. ��v poe4, TANNIS MATTSON WITNESS my hand and official seal. * Notary Public,State of Texas My Commission Expires q�OFP� February 07,2008 SIGNAT E OF PCO ARY i 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 ©1993 NATIONAL NOTARY ASSOCIATION-8236 Remmet Ave.,P.O.Box 7184•Canoga Park,CA 91309-7184 POWER OF ATTORNEY APPOINTING; INDIVIDUAL ATTORNEY-IN-FACT Know ,UI Men By These Presents,That The Continental Insurance Company,a New Hampshire corporation,and Firemen's Insurance Company of Ncwalk, New Jersey,a New Jersey corporation(herein called"the CIC Companies"),are duly organized and existing corporations haying their principal offices in the City of Chicago,and State of Illinois,and that they do by virtue of the signatures and seals herein affixed hereby make,constitute and appoint 1'artnis Mattson,Jacqueline Kirk,Terri Morrison,Individually of I louswn,TX,their true and lawful A ttomey(s)-i n-Fact with full power and authority hereby conferred to sign,seal and execute for and on their 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 their corporations 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 Boards of Directors of the corporations. In Witness Whereof,the CIC Companies have caused these presents to be signed by their Vice President and their corporate seals to be hereto affixed on this 9th day of October,2002. ""•• 'orA The Continental Insurance Com tNS64*1., c�...... Company P Y .. '� �, � + o�• A Firemen's Insurance Company of Newark,New Jersey +A g N• :•. '•••••' Michael Gengler Senior Ylce President State of Illinois,County of Cook,ss: On this 9th day of October,2002,before me personally came Michael Gengler to me known,who,being by me duly sworn,did depose and say: that he resides in the City of Chicago,State of Illinois;that he is a Senior Vice President of The Continental Insurance Company,a New Hampshire corporation,and Firemen's Insurance Company of Newark,New Jersey,a New Jersey corporation described in and which executed the above instrument;that he knows the seals of said corporations;that the seals affixed to the said instrument are such corporate seals;that they were so affixed pursuant to authority given by the Boards of Directors of said corporations and that he signed his name thereto pursuant to like authority,and acknowledges same to be the act and deed of said corporations. ---------------- SEAL' DIANEIANE FAULKNER Nolan'Public,SMI•of Ilrarois � Mr Commission Expire 9/17/05 T My Cornmission Expires September 17, 2005 Diane Faulkner Notary Public CERTIFICATE I, Mary A. Ribikawskis,Assistant Secretary of The Continental Insurance Company,a New Hampshire corporation,and Firemen's insurance Company of Newark,New Jersey,a New Jersey corporation 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 corporations printed pin th reverse hereof s still In force 'in testimony whereof I have hereunto subscribed my name and affixed the seal of the said corporations this day of I", "I' �[ jjp ��rt�t,r The Continental Insurance Company . '� ,��.•" -�f� Firemen's Insurance Company of Newark, New Jersey sets j� �: •r sr • j '�••� ' 'Mary A. R t,ika is Assistant Secretary Form F6850 Finance Control No. City of Fresno Security Deposit Form To: Finance Department - Accounting Division From: Rose Saldivar - Public Works Department CD Passbook Other Subdivision Improvement Payment Bond Deposited At: The Continental Insurance Company Certificate/Acct. No: 929423691 Deposit Amount: $7,249,000.00 Maturity Date: Depositor: Name: Centex Homes — Fancher Creek 1 Address: 1840 S Central Visalia, Ca 93277 Street City/State Zip Job Address: Tract 5232 Received By: Rose Saldivar, Public Works Engineering Date: 5/10/07 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip FINANCE USE ONLY �y= 3 l AcceptedName ^------ ----— ------- --_—__-_— _ --------- _.._ _-Date .— Released Narne Date. Type of Release: !wiled Fland Delivered -- ------__ .-_----- Date Date I acknowledge receipt of the above referenced instrument: Signature: Comments: Bond No.: 929423691 SUBDIVISION IMPROVEMENT PAYMENT BOND Whereas, the City Council of the City of Fresno, State of California, and CENTEX HOMES, A NEVADA GENERAL PARTNERSHIP ("principal") have entered or will be entering into an agreement whereby the principal agrees to install and complete certain designated public improvements, which agreement, identified as Subdivision Agreement for the Final Map of Tract No. 5232 , is hereby referred to and made a part hereof; and Whereas, under the terms of the agreement, the principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of Fresno ("City")to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. Now, therefore, the principal and THE CONTINENTAL INSURANCE COMPANY , as corporate surety, are held firmly bound unto the City and all contractors, subcontractors, laborers, material men, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum of SEVEN MILLION TWO HUNDRED FORTY NINE THOUSAND & 00/100 dollars ($ 7,249,000.00 ), 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 APRIL 11 , 2007 . Principal: CENTE% , A NEVADA GENERAL PARTNERSHIP By: cipal) Surety: THE CONTINENTAL INSURANCE COMPANY By: ( urety) TERRI MORRISON, ATTORNEY-IN-FACT CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT No.5907 State of �l j County of ( (,{ a f E� On GfL 2, before me, ffio�eolC�vay-rb, C u ..,` i DATE NAME,TITLE OF OFFICER-E.G.,"JANE DOE,NOTARY UBLI " personally appeared .IL NAME(S)OF SIGNER(S) ersonally 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 CARMEN NAVARRO behalf of which the person(s) acted, executed the instrument. COMM.#1560815 3 NOTARY PUBLIC•CALIFORNIA n TUL kRE COUNTY Comm.Exp.MARCH 18,2009 WITNESS my hand and official seal. F TARY 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 2198 ©1993 NATIONAL NOTARY ASSOCIATION-8236 Remmet Ave.,P.O.Box 7184-Canoga Park,CA 91309-7184 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT No 5907 State of Texas County of Harris On April 112007 before me, Tannis Mattson,Notary Public DATE NAME,TITLE OF OFFICER-E.G.,"JANE DOE,NOTARY PUBLIC' personally appeared 'Perri Morrison 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. FWTANNIS :1MIAlTSON' ary Pube of Texas WIT SSy ha 'and official seal. My ComExpiresFebruary 2008 ;✓ ,� �t . t SIGNAT RE OF,4NO Y 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 ©1993 NATIONAL NOTARY ASSOCIATION•8236 Remmet Ave.,P.O.Box 7184•Canoga Park,CA 91309-7184 POWER OF ATTORNEY APPOINTING INDIVIDUAL ATTORNEY-IN-FACT Know Ali Men By These Presents,That The Continental Insurance Company,a New Hampshire corporation,and Firemen's Insurance Company of Nc%vark, New Jersey,a New Jersey corporation(herein called"the CIC Companies"),are duly organized and existing corporations having their principal offices in the City of Chicago,and State of Illinois,and that they do by virtue of the signatures and seals herein affixed hereby make,constitute and aptxmit "I'annis Mattson,Jacqueline Kirk,Terri Morrison,Individually of I lousion,"rx,their true and lawful Attomey(s)-in-Fact with full power and authority hereby conferred to sign,seal and execute for and on their 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 their corporations and all the acts of said Attorney,pursuant to the authority hereby given is hereby ratified and confirmed. "chis 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 Boards of Directors of the corporations. In Witness Whereof,the CIC Companies have caused these presents to be signed by their Vice President and their corporate seals to be hereto affixed on this 9th day of October,2002. ;..,y•t•l�• •y .�• �s. �� The Continental Insurance Company Firemen's Insurance Company of Newark,New Jersey .z «*d.»•'• Michael Gengler I Senior Ylce President State of I Ilinois,County of Cook,ss: On this 9th day of October,2002,before me personally came Michael Gengler to me known,who,being by me duly swom,did depose and say: that he resides in the City of Chicago,State of Illinois;that he is a Senior Vice President of The Continental Insurance Company,a New Hampshire corporation,and Firemen's Insurance Company of Newark,New Jersey,a New Jersey corporation described in and which executed the above instrument;that he knows the seals of said corporations;that the seals affixed to the said instrument are such corporate seals;that they were so affixed pursuant to authority given by the Boards of Directors of said corporations and that he signed his name thereto pursuant to like authority,and acknowledges same to be the act and deed of said corporations. ----------------- 'OFFICIAL SEAL' OIANE FAULKNER Nday Public,Slat of I0wah Mp C.ommision Bores 9/17/05 My Commission Expires September 17,2005 Diane Faulkner Notary Public CERTIFICATE 1, Mary A. Ribikawskis,Assistant Secretary of The Continental Insurance Company,a New Hampshire corporation.and Firemen's Insurance Company of Newark,New Jersey,a New Jersey corporation 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 corporations printedo efVverse hereof i till in force. jni)tesj ony whereof I have hereunto subscribed my name and affixed the seal of the said corporations this 71 day of ) ••• •. ., '�• ttjp''�`U,:• iM►tNr The Continental Insurance Company Y '• `A Firemen's Insurance Company of Newark, New Jersey W ,. `�•••«�..••• r �t ^MRary A. ika is Assistant Secretary Form F6850 Iq c� O 10 O O O �O N O O O O O O O �D O O O 10 O O O O a O M 0 0 0 a, M h w N O i0 vn v� o O M o 0 0 - M 1" h oo N O v� r- 0 N O M O O, O 1- O O N S V'1 O [� N O O OO N O O O r 7 2 N 0 l N N --� O M 1^ V o0 N 7 O�� ^ O N N R M a� N r N N CT M r d N N •"' In 7 � n h 7 V 7 � V1 � M v1 M N h M N m C O R G O� C C •A IL N O� W 7 W C7 W w' U F W C7 U o Wa' x O Aq cWc1 CZ�7 cG d w v' x Z a W w V a X nU. rx d rs v' w U �' O k O Q (4C4 vAi U 3 ZZ z w a A W A 3 x O z 0 3 p z a A Q A W v OZ o W F W W A .. O U r Wy z a w a � z W 0 U W z a w a x z ¢ w CW7 z vx) A A A A "� Z x v°i Z w A A A Ll va Z Q Cx7 0 z F Q w w w w w C7 C7 C7 Q p x C7 Z A [ w w w w cG C7 C7 p O x rn U U U U U E-F A A A ray n U U U U U H A A A H u N N N N N "'� V �i N M M tN•1 M M M M M M M M M U V, M N N N N N N N N N N N N W � ''- F F F [�� F [�� F F F F [�—� [�—� H LY. z P�, F H F F F [�• � H H H [--' H F OL Z G3. 0 N >. >r >. >n >a >y >' >w '�"' 'r >� >r �.' >r '�' '�" >-i '�.' ,." �" '�.� >. >a •r >. 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 a a a a. a a a a. a s n. w a a a a w w a a s w a a Cl. a a a a a a. a �. d O CL F' H c i dQ LL W N I'll. O r C � W U �+ N �y O .a 4 3 3 m A � 3od oO O o o O O o o. o 0 o o o 0 o o o o o o o o O o 0 0 0 o O o o O O O O O O O O O O O O O O O O O O O O O 0 O O O O O O O O O O r U N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N O � U J co f- CL OCO C) a) U) O M N O ^� M (J N N O O O O Z O --� 0 0 0 0 0 N O O N_ W 0 r 7 O+ O+ O+ a+ O, •n 0 0 0 0 T g N L �O O O O, os O, ON C, -+ h w) w) a O O C (DO Co LL O o0 00 00 o0 00 0o ao 00 00 00 00 00 00 00 00 MU Q' »,`. .� .� .� ... ... ... .� .... O N N r r l- [- � M N T N --� O_ --� n In w) •--� O O_ O O O O O O •--� --� C �O O c C o o vl 0 0 0 0 0 C M N M M M M M R M M M N M N M M M M M M M M N a L w m m O C l0 O -IT V1 ol `O w) v1 vi -IT 7 7 fl! Q V Q Uf 3 v� vi l� v� O v� v� v� vi vi vi vi v� O N N •• ^• .-.• .-. _ _ .-• .-, w Vl V1 00 01 00 00 00 00 00 00 00 00 M N N N V H O ' R -e 't M m O Q F Q •'7 M M M m m m M M M M M M M m C1 M — Jon Bartel -Re: Fwd: CD Assi nment Centex Homes (t-5232 P e 1 d From: Alan Kawakami To: Karen Bradley Date: 5/2/2007 9:41:56 AM Subject: Re: Fwd: CD Assignment Centex Homes (t-5232) we provide a copy of the finance policy you prepared with each subdivision document package .. centex was provided a copy. >>> Karen Bradley 5/2/2007 9:02 AM >>> only communicated to Centex that the two CD's submitted were acceptable. I made no comment one way or the other as to future cds. When they come in to file to establish future subdivisions they need to be given the same speal and be given the same memo as everyone else. When Arakel comes in today or whenever to bring the originals of the CD's in question that point can re reaffirmed with him. >>>Alan Kawakami 05/02/07 8:26 AM >>> i understood that this was not a blanket approval .. however, for their future projects, centex will perceive this form as a blanket approval for future cds .. unless you have clarified to centex that this consideration is only for t-5232's cds and that all future cds will be expected to conform to the finance policy. >>> Karen Bradley 5/2/2007 8:13 AM >>> This is not a blanket approval. Anything that deviates from the memo that was prepared will need to be addressed by Finance on a case by case basis. Things have a tendency to"creep" away from policy drastically unless their is a review and approval process in place. Thank you. >>>Alan Kawakami 05/02/07 8:02 AM >>> karen .. thank you for the heads up .. please inform other finance staff of this consideration to insure they will not reject the documents when routed in this form to the treasury. >>> Karen Bradley 5/1/2007 5:09 PM >>> Arakel with Centex Homes faxed over CD documents for Finance to review. While they deviate from our preferred collateral, we will accept them. I will call Arakel and let him know. Please be sure to obtain originals of the CD printout and the assignment. Thank you CC: Greg Wiles; John Fox; Jon Bartel; Rick Sommerville