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HomeMy WebLinkAboutT-5597 - Cashier Memo - 11/21/2012 City of MEMORANDUM PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: November 21, 2012 TO: BETH REUSCH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 5597 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING: 1. Performance Bond in the amount of$1,417,000.00 2. Payment Bond in the amount of $746,000.00 3. Certificate of Deposit in the amount of$75,000.00 (California Bank &Trust) 4. Copy of receipt of credit card payment on 11/14/12 and 11/16/12 in the amount of $90,000.00, $16,107.55 and$17,507.34 totaling $123,614.89. 5. Copy of the Subdivision Agreement identifying itemized applicable charges. If you have any questions, please contact me at 621-8684. Thank you, Jonathan artel City of 11ITIM MEMORANDUM ff PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 ra DATE: November 14, 2012 ►= uz TO: HEIDI BRIGGS - ;�, Personnel Services Department DC1� U FROM: JONATHAN BARTEL -J Public Works Department SUBJECT: REQUEST FOR BOND APPROVAL FOR THE FINAL MAP OF TRACT NO. 5597 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: $1,417,000.00 2. Payment Bond in the amount of: $746,000.00 If you have any questions, please contact me at 621-8684. Thank you, Jonathan Bartel RISI MAMA EMENT DIVISION Ap oved: SAP roW/ h ges: Sig ed' Date Bond NO.: 783654S Premium: $14,170.00 SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Granville at Barstow, Inc. ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 5597 is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and Developers Surety and Indemnity Company as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of One Million, Four Hundred Seventeen Thousand and 00/100 dollars ($ 1,417,000.00 ) 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 November 12 2012 Principal: Granville at Barstow, Inc. By: / r� <-c (Pnn ) Sur Develop_ers Surety an demnity Company By: -1 ) 14 C - ;Ck (Surer) Cynthia Sauceda,Attorney-in-Fact CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of FRESNO On November 12, 2012 before me, KIMBERLY WILSON,NOTARY PUBLIC, personally appeared Cynthia Sauceda, 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. i(iVIBEAL! WILSON WITNESS my hand and official seal. �' COMM,#188544.5 w NOTARY PUBLIC-CALIFORNIA y a // FFESNO COUI�IY 4' 0,2014 ' Signatu e 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) ti POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO Box 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,constitute and appoint: "'Kyle Wilson, Cynthia Sauceda, Donna M Smith, DeAnna Slater, Gary E. Richards,Wayne Lamb,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 surety- ship giving and granting unto said Atlorney(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 Atlomey(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 Boards of Directors of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,effecfive as of January 1st,2008. RESOLVED,that a combination of any two of the Chairman of the Board,the President,Executive Vice-President,Senior Vice-President or any Vice President of the corporations be,and that each of them hereby is,authorized to execute this Power of Attomey,qualifying the attorney(s)named in 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 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 corporations 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 officers and attested by their respective Secretary or Assistant Secretary this October 4th,2011. By: �/l ,,W,aND/* . PAN Y, Daniel Young,Senior Vice-President 'yJ�Go�p pRqAl CJ ��F�ti _w: 0107 =c�c ? OCT.5 O By 1936 :o= w 1967 Steve A.Tvedt,Vice-President /OwP,:aL 2j 9�/FO�r1� L State of Califomia County of Orange On October 4 2011 before me, Antonio Alvarado,Notary Public Date Here Insert Name and Title of the Officer personally appeared Daniel Young and Steve A.Tvedt Name(s)of Signer(s) who 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 APffONlO ALVARADO capacity(ies),and that by hisfher/their signature(s)on the instrument the person(s),or the entity upon behalf of which the person(s)acted,executed the instrument. COMM.#1860643 NOTARY PUBLIC CALIFORPMA I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is ORANGE C04JNTY true and correct. My comm.wores Aug.9,2013 t WITNESS my hand and official seal. Place Notary Seal Above Signature_ Antonio Alvarado,Notary Public CERTIFICATE The undersigned,as Secretary orAssistanl Secretary of DEVELOPERS SURETY AND INDEMNITY COMPANY or INDEMNITY COMPANY OF CALIFORNIA,does hereby certify that the foregoing Power of Attomey 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 isexecutedin the City of Irvine,California,this 12 t HPY of November,. 2012 By: ' (r Gregg Oku Olistant Secretary ID-1380(Rev.10/11) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT cnRL.CODE§ 1199 State of California i County of On �`1 +� before me, bite HVim sert N me and Title of th e Officar personally appeared Name(s)of Signer(s) I who 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 APRIL CELESTE GARCIA NOTARY PUBLIC-CALIFORNIA person(s) acted, executed the instrument. COMMISSION# 1986538 FRESNO COUNTY My Comm.Exp.July 28,2016 1 certify under PENALTY OF PERJURY under the �•• laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. wSignature: n_ ' W,� _ Place Notary Seal Above signature of Notary Public OPTIONAL 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: Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signers) Signer's Name: Signer's Name: Q Corporate Officer — Title(s): -1 Corporate Officer — Title(s): ❑ Individual Individual F] Partner — Limited General Top of thumb rlere Partner —❑Limited General Top of thumb here 0 Attorney in Fact L.l Attorney in Fact L� Trustee ❑Trustee ❑ Guardian or Conservator ❑Guardian or Conservator ❑ Other: ❑Other: Signer Is Representing: Signer Is Representing: I 2010 National Notary Association•Nal ionalNotary.org•1-800-US NOTARY(1-800-876-6627) Item#5907 Bond No.: 783654S Premium: Included SUBDIVISION IMPROVEMENT PAYMENT BOND Whereas, the City Council of the City of Fresno, State of California, and Granville at Barstow, 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. 5597 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, 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 Hundred Forty Six Thousand and 00/100 dollars ($ 746,000.00 ), 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 November 12 120 12 Principal: Granville at Barstow, Inc. By: (Principal) Sur4, Developers Surety aq!Nndemnity Company Y (Surety) Cynthia Sauceda, Attorney-in-Fact CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of FRESNO On November 12, 2012 before me, KIMBERLY WILSON,NOTARY PUBLIC, personally appeared Cynthia Sauceda, 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. g Or h, M1 KIMBEERU WILS1 c Nil WITNESS my hand and official seal. COMM.#18854�15 cn 0 ��� NOTARY PUBLIC-CAUFORNIA-U) FRESNO COUNTY ,F Ra fly Comm.Exp. April 10,2014 Si n ture 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)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,constitute and appoint: """Kyle Wilson, Cynthia Sauceda, Donna M Smith, DeAnna Slater, Gary E. Richards,Wayne Lamb,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 surety- ship giving and granting unto said Attorney(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 AUorney(s)-in-Fact,pursuant to these presents, are hereby ratified and confirmed. This Power of Atlomey is granted and is signed by facsimile 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,effective as of January 1st,2008. RESOLVED,that a combination of any two of the Chairman of the Board,the President,Executive Vice-President,Senior Vice-President or any Vice President of the corporations be,and that each of them hereby is,authorized to execute this Power of Atlomey,qualifying the attomey(s)named in 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 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 ol'Atlorney 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 corporations 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 officers and attested by their respective Secretary or Assistant Secretary this October 41h,2011. By: � ti�.j AND/'V �PANyO Daniel Young,Senior Vice-President ;;J , ....p � �p O RqL? =w ` OCOT. S OCT,5 By: �G~�L =o: 1 9 3 6 `o= W 1967 Steve A.Tvedt,Vice-President /FO State State of California 7th County of Orange On October 4 2011 before me, Antonio Alvarado Notary Public Date Here Insert Name and Title of the Officer personally appeared Daniel Young and Steve A.Tvedt Name(s)of Signer(s) who proved to me on the basis of seGefactory evidence to be the person(s)whose name(s)is/are subscribed to i the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized ANTONIO ALVARADO 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. oCOMM.#1880643 g@.My NOTARY PUBLJC CAUFORMA I certify under PENALTY OF PERJURY under the laws of the Stale of California that the foregoing paragraph is ?: ORANGE AMY r3 true and correct. COrltm.expires Aug.9,2013 t Ir WITNESS my hand and official seal. Place Notary Seal Above Signature "' �- AntonioAlvarado,Notary Public CERTIFICATE The undersigned,as Secretary orAssistanl Secretary of DEVELOPERS SURETYAND INDEMNITY COMPANY or INDEMNITY COMPANY OF CALIFORNIA,does hereby certify that the foregoing Power of Attomey 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 isexecutedin the City of Irvine,California,thisl 2 thday of November, 2012 By: Gregg Oku Olistant Secretary ID-1380(Rev.10/11) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE 1189 e State of California County of I d On before me, I f la, NNIC Da _ Mere Ins6 Name and Tille of the Officer personally appeared Narne(s)of Signer(s) who 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 ^r, person(s) acted, executed the instrument. ryF^ APRIL CELESTE GARCIA NOTARY PUBLIC-CALIFORNIA y 0 ® COMMISSION# 1986538 I certify under PENALTY OF PERJURY under the • FRESNO COUNTY My Comm.Exp.July 29,2o1s laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature: Place Notary Seal Above Signature of Notaly Public I OPTIONAL 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 I Title or Type of Document: _ Document Date: Number of Pages: Signer(s) Other Than Named Above: _ Capacity(ies) Claimed by Signer(s) Signer's Name: _ Signer's Name: I.i Corporate Officer — Title(s): ©Corporate Officer — Title(s): Individual ©Individual Partner — Limited General Top of thumb here i]Partner — LD Limited ❑General Top of thumb here �l Attorney in Fact ❑Attorney in Fact �i El Trustee Q Trustee I, El Guardian or Conservator Q Guardian or Conservator Other: Q Other: Signer Is Representing: Signer Is Representing: , -� ,C 2010 National Notary Association•National Notary.org•1-800-US NOTARY(1-800-876-6827) Item 95907 Company Profile Page 1 of 2 Company Profile DEVELOPERS SURETY AND INDEMNITY COMPANY 17771 COWAN, SUITE 100 IRVINE, CA 92614 Agent for Service of Process SUSAN M. MOORE, 17771 COWAN SUITE 100 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. AUTOMOBILE BOILER AND MACHINERY BURGLARY FIRE LEGAL INSURANCE LIABILITY MARINE MISCELLANEOUS PLATE GLASS SPRINKLER SURETY http://interactive.web.insurance.ca.gov/webuser/idb_co_prof utl.getp _corof?p_EID=10... 11/21/2012 Company Profile Page 2 of 2 Company Complaint Information Company Enforcement Action Documents Comp�_Performance & Comparison Data Composite Complaint Studies Want More? Help Me Find a Company Representative in. Area Last Revised-November 10,2012 10:58 AM Copyright©California Department of Insurance http://interactive.web.insurance.ca.gov/webuser/idb_co_prof utl.get_co_prof9p_EID=10... 11/21/2012 W AUTOMATICALLY RENEWABLE < C B CALIFORNIA BANK U TnusT TRUST E ISSUED AT FRESNO MAIN OFFICE FRESNO CA DATE 11/14/2012 Y a' W (CITY OR TOWN) (STATE) W 0 GRANVILLE AT BARSTOW INC 1340023123 UO (CUSTOMER NAME) (CUSTOMER NUMBER) ~ ****SEVENTY FIVE THOUSAND DOLLARS AND NO/100**************** a } DOLLARS $**X5.000.00** j HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK & TRUST PAYABLE TO CITY OF FRESNO OR ORDER UPON MATURITY Lr 'Q U) AS HEREINAFTER SPECIFIED AND UPON PRESENTATION AND SURRENDER OF THIS CERTIFICATE,PROPERLY ENDORSED,ATTHE ABOVE OFFICE, nTHE MATURITY OFTHIS CERTIFICATE WILL BE AFTER DATE,AND SUCH MATURITY WILL BEAUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS 0 UNLESS:(A)AT LEASTTEN DAYS PRIOR TO SUCH ORIGINAL OR ANY EXTENDED MATURITY,THIS BANK HAS SENT WRITTEN NOTICE TO THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON ITS Q RECORDS OF BANK'S ELECTION TO PAY THE DEPOSIT AT SUCH ORIGINAL OR ANY EXTENDED MATURITY, OR(B)UPON OR WITHIN TEN DAYS AFTER SUCH ORIGINAL OR ANY EXTENDED MATURITY DATE,THIS CERTIFICATE IS PRESENTED AND SURRENDERED FOR PAYMENT. SAID DEPOSIT BEARS SIMPLE INTEREST AT THE RATE OF %PER ANNUM FROM DATE HEREOF UNTIL ULTIMATE MATURITY,AS ABOVE PROVIDED.AND SUCH INTEREST WILL I BE PAID OR CREDITED AT EACH SUCCESSIVE MATURITY DATE IN ACCORDANCE WITH THE WRITTEN J_ INSTRUCTIONS OF THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON THE RECORDS OF THIS 1� BANK.THE RATE OF INTEREST IS SUBJECT TO CHANGE BY BANK WITHOUT NOTICE,TO THE EXTENT NECESSARY TO COMPLY WITH ANYLAWORGOVERNMENTAL REGULATION AFFECTING THE DEPOSIT. AUTHORIZED SIGNATURE OPS-1(05!09) Account Number: 1340023123 Security Amount: $75,000.00 ASSIGNMENT (Subdivision Agreement) SECURITY FOR: GRANVILLE AT BARSTOW, INC. Hereinafter called ASSIGNOR, whose principal place of business is 1396 W. Herndon#101, 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 $75,000.00 number 1340023123 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 5597 Performance Security—Monthly 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 14th day of November 2012 Granville at Barstow, Inc. a California Corporation By; Derek Hayashi, 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 1 4TH day of November , 2012 California Bank& Trust, 7060 N. Fresno Street Fresno, CA 93720 Bank Name Branch ycainCity State B Y Name Title of Officer MARGIE HILLS, VP & BRANCH MANAGER ciTY Or rm-3mu PPHK IHU 2600 FRESNO S1 RM 4064 FRE5N0 CA 93721 559 621-8815 CITY OF FRESNO PARKING 54119101""3113156 2600 FRESNO Sf RM 4064 FRESNO CA 93721 559 621-8815 flrrchant 10, 191013(93196,11 541619101303196 sale Mrrci ant IG: 1910130319601 111111111,002 Sale MASIERCARD Entry nethod: sadr111���1�106fi dotal: $ 94'000' AMEX Entry Method: gulped i1�14�12 18;43:32 Total: $ 16107,55 Inva: 000007 Appr Code; 58731P Auprvd: Online Batch : 04�34 1114/12 18;49:37 Ind: 80060E Appr Code: SNO50 CustolW,, CUGY Apprvd: Online Batcha, 008580 fHANK Y00! CO,* AGAIN! C4�towerCcPy THANK Y00! CONE AGAIN! CITY OF FRESNO PARKING 2600 FRESNO ST RM 4064 FRESNO CA 93721 559 621-8815 541619101.303196 Merchant 10: 1910130319601 Phone Order 000 AMEX Entry Method: Manual Total: $ 17,507.34 11/16/12 19:31:02 In* OR Appr Code: 268546 Apprud: Online BaW: 00682 AVS Code: ZIP MATCH Z CID Code: MATCH M I agree to Pay above total amount according to card issuer agreement ' (Merchant 9reemant if credit voucner) �, ,,Cl i'—tj MAan�>�yN -VAR iRae-T ssq� X----- --- ------. - �K,ac•T Marchant Copy THANK You! COME AGAIN!