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HomeMy WebLinkAboutT-5340 - Cashier Memo - 9/13/2006 City of PLANNING AND DEVELOPMENT DEPARTMENT Building & Safety Services Division C,r i? ;f9 Land Division & Engineering Section DATE: August 24, 2006 TO: ROSE SALDIVAR, Senior Account Clark Public Works Department, Engineering Administration FROM: RICK SOMMERVILLE, Supervising Engineering Technician Development Department, Building & Safety Services Division SUBJECT: SUBMITTAL OF FEES, CHARGES AND SECURITIES FOR TRACT NO 5340/UGM ATTACHED PLEASE FIND THE FOLLOWING ITEMS FOR TRACT NO. 5340/UGM. 1. Copy of the Subdivision Agreement for Tract No. 5340/UGM. 2. Stockbridge Venture II paid by credit card the amounts totaling $ 74,059.24 representing total fees and charges due final map as noted of page 4 of 4 of the itemized Exhibit "B" at the rear of subdivision agreement. 3. A County Bank Certificate of Deposit (Certificate No. 1570016152) in the amount of $ 19,000.00, which represents the five percent Performance Security, as noted on page 1, of Exhibit "A' at the rear of said subdivision agreement. 4. City's Faithful Performance Bond in the amount of$ 363,000.00 5. City's Subdivider's Payment Bond in the amount of$ 191,000.00 Please provide copies of the Cashier Memorandum for our records. If you should have any questions please feel free to contact me at 621-8075. Respectfully 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: Developers Surety & Indemnity Company Certificate/Acct. No: 568641-S Deposit Amount: $363,000.00 Maturity Date: Depositor: Name: Stockbridge Venture II LLC Address: 2972 Larken Ave Clovis, Ca 93612 Street City/State Zip Job Address: Tract 5340 Received By: Rose Saldivar, Public Works Engineering Date: 7/17/06 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip f {E Name Y essed Bays �ffi��` +r:i° t•.4, � :,� a:� z a � qac t:Qf DOW I + repalltlea �re �►ced�l�trnie" Bond No.: 568641-S Premium: $6 861.00 PREMIUM IS FOR CaNTRACT TERM AND issUBJECTTOADJUSTMENT SUBDIVISION IMPROVEMENT DASMONc KUWTPFUGF- PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and STOCKBRIDGE VENTURE 11, LLC. ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 5340 , is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and DEVELOPERS SURETY AND INDEMNITY COMPANY as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of **THREE HUNDRED SIXTY THREE THOUSAND AND NO/100** dollars ($**363,000.00** ) 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 July 31 , 20 06 Principal: STO BRI II LLC. By: (Principal, Surety: AWELOPEUS S AND I NITY COMPANY By- (Surety) D niel M. Connolly,attorney-in-Fact 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: Developers Surety & Indemnity Company Certificate/Acct. No: 568641-S Deposit Amount: $191,000.00 Maturity Date: Depositor: Name: Stockbridge Venture II LLC Address: 2972 Larken Ave Clovis, Ca 93612 Street CitylState Zip Job Address: Tract 5340 Received By: Rose Saldivar, Public Works Engineering Date: 7/17/06 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip •• ! 4 ,44 6 t r. F?•1 F .S. �ar S E f t 'T.R T�G"� .'f�IM� .,`: h .," v....: .. .: Y.[.•� E: 4 f::;5 r��. Naar it1 S irlea� •! ,, d is TY � h Y Qdts ;' 8t0'5 E � by{ i Bond No.:. 568641-s SUBDIVISION IMPROVEMENT PAYMENT BOND Whereas, the City Council of the City of Fresno, State of California, and STOCKBRIWE VEMTIfRE II, LLC. ("principal") have entered or will be entering into an agreement whereby the principal agrees to install and complete certain designated public improvements, which agreement, identified as Subdivision Agreement for the Final Map of Tract No. 5340 , is hereby referred to and made a part hereof, and Whereas, under the terms of the agreement, the principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of Fresno ("City") to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. Now, therefore, the principal and DEVELOPERS SURETY AND INDEMNITY COMPANY , as corporate surety, are held firmly bound unto the City and all contractors, subcontractors, laborers, materialmen, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum Of **ONE HUNDRED NINETY ONE THOBBAND AND N0/100** dollars ($**191 ,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 herein above 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 July 31 , 20 o6 Principal: STO BRI , LC. By: Principal) Surety. mwLopm sLwu AND I wm 1 TY COMPANY By: (Surety) Daniel 9. Connolly, Attorney-in-Fact CALIFORNIA ALL PURPOSE ACKNOWLEDGMENT State of California County of San Joaquin On July 31,2006 before me, Karen Bellamy,Notary Public Name and Title of Officer(e.g.,"Jane Doe,Notary Public) personally appeared Daniel M. Connolly Name(s)of Signer(s) ®personally known tome OR ❑ proved to me on the basis of satisfactory evidence to be the person(&)whose name(&)is/are subscribed to the within instrument and acknowledge to me that he/sheAhey executed the same in hislheb4ieiF authorized capacity(ies)and that by hist signature(&)on the instrument the person4, of the entity upon behalf of which the person(&)acted. KAREN BELLAMY _o =' COMM. #1389093 E:WITNESS MY HAND AND OFFICIAL SEAL.- NOTARY PUBLIC-CALIFORNIA C SAN JOAQUIN COUNTY a My Commission Expires Dec,8,2000 klalzw ip db an Signature of Nola o Public TTTTTTTTTTqjTTTTTTTTTTTTTTTTTwTTTTOPTIONALTTTTTwTTTTTwTTTTTwTTTTTwTTTTTY T Though the data below is not required by law,it may prove valuable to persons relying on the document and could prevent fradulent reattachment of this form to another document. Description of Attached Document Title or Type of Document: Subdivision Improvement Performance and Payment Bond#568641-S Document Date July 31,2006 Number of Pages: 2 Signer(s)Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: Daniel M. Connolly Signer's Name: ❑ Individual ❑ Individual ❑ Corporate Officer ❑ Corporate Officer Title(s): Title(s): ❑ Partner--❑Limited ❑ General ❑ Partner-- ❑ Limited ❑ General ® Attorney-in-Fact ❑ Attorney-in-Fact ❑ Other: ❑ Other: Signer is Representing: Signer is Representing: Developers Surety and Indemnity Company POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO BOX 19725,IRVINE,CA 92623 (949)263-3300 KNOW ALL MEN 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: ***Scott G. Gaddy, Stan Ward, Daniel M. Connolly, David Schnapp, Diane Kelley, Karen Bellamy, jointly or severally*** as their true and lawful Attorney(s)-in-Fact,to make,execute,deliver and acknowledge,for and on behalf of said corporations,as sureties,bonds,undertakings and contracts of suretyship giving and granting unto said Attomey(s)-in-Fact 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 corporations could do,but reserving to each of said corporations full power of substitution and revocation,and all of the acts of said Attorney(s)-in-Fact,pursuant to these presents,are hereby ratified and confirmed. This Power of Attorney is granted and is signed by facsimile under and by authority of the following resolutions adopted by the respective Board of Directors of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,effective as of November 1,2000: RESOLVED,that the Chairman of the Board,the President and any Vice President of the corporation be,and that each of them hereby is,authorized to execute Powers of Attorney,qualifying the attomey(s)named in the Powers of Attorney to execute,on behalf of the corporations,bonds,undertakings and contracts of suretyship;and that the Secretary or any Assistant Secretary 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 signatures of such officers may be affixed to any such Power of Attorney or to any certificate relating thereto by facsimile,and any such Power of Attorney or certificate bearing such facsimile signatures shall be valid and binding upon the corporation when so affixed and in the future with respect 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 signed by their respective Executive Vice President and attested by their respective Secretary this I st day of December, 2005. By. ,....,••ANDS "• OMPAN Y O�c David H.Rhodes,Executive Vice-President Jp��I "P�R•r��F'� G PppR E ms: OCT. :<2 Z OCT.5 0 y; 10 a t�' W 1967 By: 0�°, 1936 0% 2 °q iF Walter A.Crowell,Secretary ,�'.�%j•.•/pyy p , ''da < O STATE OF CALIFORNIA COUNTY OF ORANGE On December 1,2005 before me,Gina L.Gamer, (here insert name and title of the officer), personally appeared David H.Rhodes and Walter A.Crowell, 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. GINA L.GARNER COMM.#1569561 SEAL1%7 NOTARY PUBLIC CAUFORNA Signature ORANGE COUNTY 3 Nly conn.explras _42M CERTIFICATE The undersigned,as Assistant Secretary,of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA, does hereby certify that the foregoing Power of Attorney remains in full force and has not been revoked,and furthermore,that the provisions of the resolutions of the respective Boards of Directors of said corporations set forth in the Power of Attorney,are in force as of the date of this Certificate. This Certificate is executed in the City of Irvine,California,the 31st day of July 2006 By Albert Hillebrand, Assistant Secretary ID-1380(Rev. 12/05) k CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of Fresno On August 1. 2006 before me, Jill L. Johnson, Notary Public, personally appeared Guy Stockbridge personally known to me or ❑ proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. JILL L.JOHN30N w*\tCOMM.$1383908 MyC0M-EXP-NoV8,2006 Notary Public-Caftmia CA WI y h nd a eal. FRESNO COUNTY "4AL Though the information below is not required by law,it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Subdivision Improvement Performance and Payment Bond#568641-S Document Date: July 31, 2006 Z2�I�4�, Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer Signer's Name: Guy Stockbridge ❑ Individual Corporate Officer-Title(s): Managing Member ❑ Partner- 0 Limited 0 General ❑ Attorney-in-Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer is Representing: Stockbridge Venture II. LLC Company Profile Page 1 of 2 Company Profile DEVELOPERS SURETY AND INDEMNITY COMPANY 17780 FITCH, SUITE 200 IRVINE, CA 92613 Agent for Service of Process ALBERT HILLEBRAND, 17780 FITCH SUITE 200 IRVINE, CA 92614 Unable_to Locate the Agent for.Service of Process'? Reference Information NAIC #: 12718 NAIC Group #: 0075 California Company ID #: 4606-0 Date authorized in California: August 30, 1999 License Status: UNLIMITED-NORMAL Company Type: Property & Casualty State of Domicile: IOWA Lines of Insurance Authorized to 'Transact 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. SURETY Company Complaint Information Company Enforcement.Action Documents Company Performance & Comparison Data Composite Complaint Studies Want More?' http://interactiv-eweb.insurance-cav#webuserlidb- co_prof utl:get_co_proPp_EID=10... 08/02/2006- ­­-- Company Profile Page 2 of 2 Help Me Find_a Company. Representative in My_Area Financial Rating Qrgani7ations Last Revised-June 20,2006 08:23 AM Copyright©California Department of Insurance http://interactive.web.insurance.ca.gov/webuser/idb_co_prof utl.get_co_prof?p_EID=10... 08/02/2006 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: County Bank, Fresno Office Certificate/Acct. No: 1570016152 Deposit Amount: $19,000.00 Maturity Date: 7/14/07 Depositor: Name: Stockbridge Venture II LLC Address: 2972 Larken Ave Clovis, Ca 93612 Street City/State Zip Job Address: Tract 5340 Received By: Rose Saldivar, Public Works Engineering Date: 7/17/06 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip r IE w of Re t e > x a s a t 1 E E'' ,�FASX.ti x,.. 'w...r k .. '' .,, _'....... <,.! ,.., _.." .. _�Hs 3„t .�oekyf,✓ v' e r € t a ! * r +wl irep�fi`rafftl aim ed instr prat CyR Ea@r t` Tnf�t� t5�"= CERTIFICATE OF TIME DEPOSIT _ NON-NEGOTIABLE AND NON-TRANSFERABLE NUMBER ATE 1570016152 ISSUED TO NAME(S) ( I ("you,your) NAME AND ADDRESS OF ISSUER/FINANCIAL INSTITUTION("we,us") STOCKBRIDGE VENTURE II LLC COUNTY BANK PAYABLE TO CITY OF FRESNO FRESNO OFFICE 2972 LARKEN AVE 2150 W SHAW AVENUE FRESNO, CA 93711 CLOVIS CA 93612 15 S.S.1IT.I.N_= ISSUE DATE MATURITY DATE Fxj AUTOMATICALLY RENEWABLE TERM AMOUNT OF CERTIFICATE 20-3662649 1 7/14/06 7 14 07 SINGLE MATURITY 12 MONTHS 1 $19,000.00 OWNERSHIP TYPE:Limited Liability Wards or phrases preceded by a a are applicable only if the N is marked. Phrases containing a blank space which is not filled in or completed with an NIA are not applicable. INTEREST RATE FIXED RATE. The deposit evidenced by this Certificate will earn an annual interest rate of S.2200 %Annual Percentage Yield: 5.3 5 % VARIABLE RATE.The deposit evidenced by this Certificate will earn an interest rate based on the index indicated below as adjusted by the frequency indicated as"Adjustment Frequency". Initial Interest Rate: %Annual Percentage Yield: %Adjustment Frequency: First Adjustment Date: INDEX: a Plus = Minus a margin of % The Interest Rate will not be =increased to more than %per annum =decreased to less than %per annum. aThe Interest Rate will not change by more than %per adjustment. CALLABLE. This Certificate has a"call"feature as described in the Account Agreement: x� BUMP-UP. The Certificate has a"bump-up"feature as described in the Account Agreement: Interest Payment Frequency:monthly which will be =credited to account number paid to you by check. X�added to principal of this Certificate. Interest will be calculated an a basis ofxO 365 days O Other- Interest will be compounded EARLY WITHDRAWAL PENALTY: 1/2 of the terms interest on the amount withdrawn — maximum of 1 year. Early Withdrawal Penalty may invade principal. XD Grace Period-Automatically Renewable Certificate: 10 days. If this Certificate is withdrawn during the grace period, the interest rate will be %. = interest will not be paid during the grace period. X� the interest rate will be the same rate of interest that would have been paid on this Certificate if renewed. a Post-Maturity Interest-Single Maturity Certificate: aThe interest rate an the Certificate after the Maturity Date will be %. a Interest will not be paid after the Maturity Date. i Authorized Signer: X Optional Signature (Official) X PA ICIA EN GER CSO REDEMPTION. You acknowledge receipt of funds represented by this Certificate of Deposit. X X DEPOSITOR SIGNATURE/DATE DEPOSITOR SIGNATURE/DATE Compinee System,Inc.1991,1993,1995,1996,1997,1998,2000,2001,2002,2003,2004,2005 www.compiancoysum.com ITEM 678BALO(0511) Pepe 1 of 1 800.988.8522 Fax 616-856.1888 Q IL N O �O o0 00 � �O .-• oo N O o0 n M 'n n O -- b n O - M •-. N M � o0 00 7 �O - oo N O o0 t� O 0o M - N 7 M �- O 7 00 00 r r m „ E m O F IL Ix Ix 'n n In kn U Gwc. W 'n m n U n W F., S O W w x U n n w F �- F .n n w F S O W w O twc. W U x x a 0 C7 U m U. Z F U x x U x Z J• p 0 x x S o [z. Z a W S U �, a U = S U p' z J• p Z x U U > F S m U O ac o 0 rn cc. U > z U U > -� F ¢ a � 3xW vooaF¢ o ; z ¢ � F � w �i xxEA cn rA rA r a r w o. C7 x w V Z w w n a ¢ o¢t w 0. 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