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HomeMy WebLinkAboutT-5600 - Cashier Memo - 6/17/2008 City of MEMORANDUM PLANNING& DEVELOPMENT DEPARTMENT-PLANNING DIVISION •2600 FRESNO STREET-FRESNO, CA 93721 DATE: May 20, 2008 MCD C' TO: ROSE SALDIVAR MAY 2 9 2048 Public Works Department Planning Division FROM: JONATHAN BARTEL Mianning &Development Den} Planning & Development Department riTY OF FRESNO SUBJECT: SUBMITTAL OF FEE PAYMENT FOR TRACT NO. 5600 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING: 1. Performance Bond in the amount of$3,167,000.00 2. Payment Bond in the amount of$1,667,000.00 3. Check in the amount of$ 167,000.00 (JPMorgan Chase Bank N.A. No. 00860258) 4. Check in the amount of$ 176,761.20 (JPMorgan Chase Bank N.A. No. 00860257) 5. Copy of the Subdivision Agreement identifying itemized applicable charges. If you have any questions, please contact me at 621-8076. Thank G �� Jonathan Bartel 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: Arch Insurance Company Certificate/Acct. No: SU5024981 Deposit Amount: $3,167,000.00 Maturity Date: Depositor: Name: Lennar Fresno, Inc Address: 8080 North Palm, Suite 101 Fresno, CA 93711 Street City/State Zip Job Address: Tract 5600 Received By: Rose Saldivar, Public Works Engineering Date: 05/21/2008 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip FINANCE USE ONLY Accepted By: Ak 7 Name< a _ .. DateNNW .;. Released Bye Type of Relea w 7-o DataT e re ge e pthe above referenced it strdnnent, Signature: Date v "Executed In Duplicate" Bond No.: SU5024981 Premium: $39,588.00/2 yrs. SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas,the City Council of the City of Fresno, State of California,and Lennar Fresno, Inc. ("principal")will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements,which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 5600 is hereby referred to and made a part hereof;and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore,we,the principal and Arch Insurance Company , as surety,are held and firmly bound unto the City of Fresno ("City"), in the penal sum of Three Million One Hundred Sixty Seven Thousand and No/100------------------ dollars($ 3,167,000.00*******) 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, o May 16 20 08 Principal: na r ., a California corporation t3y: / 4nc surance Com anApodaca, orney-In-Fac Ei CALIFORNIA ALL-PURPOSE 1, CERTIFICATE OF ACKNOWLEDGMENT C5: `:. State of California E :I i County of Orange €s 1. y On 5/16/08 before me K. Luu, Notary Public (Here insert name and title of the officer) '< personally appeared Jeri Apodaca << i f� tai who proved to me on the basis of satisfactory evidence to be the person(st)whose name(5t) subscribed)is/w subibed to i$ .t: the within instrument and acknowledged to me that lxe/she/fes executed the same in bis/her/tbeix authorized s; capacity(�o), and that by 17gb6/her/ter signature(s) on the instrument the person(R), or the entity upon behalf of which the person(x)acted, executed the instrument. z Sf I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. i- K. LUL1 Commission # 1778641 WITNESS my hand and official seal. ;-. Notary Publle -California ' Orange County My Comm.Expires Nov 6,2011 Si tore of Notary Public (Notary Seel) 3c ADDITIONAL OPTIONAL INFORMATION INSTRUCTIONS FOR COMPLETING THIS FORM Any acknowledgment completed in California must contain verbiage exactly as DESCRIPTION OF THE ATTACHED DOCUMENT appears above in the notary section or a separate acknowledgment form must be # properly completed and attached to that document. The only exception is if a !E document is to be recorded outside of California.In such instances,any alternative 't acknowledgment verbiage as may be printed on such a document so long as the (Title or description of attached document) verbiage does not require the notary to do something that is ille al or a nota in 7 g 9u Y 8 g f notary California (i.e. certifying the authorized capacity of the signer). Please check the (Title or description of attached document continued) document carefully for proper notarial warding and attach this form ijrequired. s: Number of Pa es Document Date State and County information must be the State and County where the document g signer(s)personally appeared before the notary public for acknowledgment, • Date of notarization must be the date that the signers)personally appeared which } must also be the same date the acknowledgment is completed. tE ?; (Additional information) • The notary public must print his or her name as it appears within his or her commission followed by a comma and then your title(notary public). i? • Print the name(s) of document signer(,) who personally appear at the time of ' notarization. I CAPACITY CLAIMED BY THE SIGNER Indicate the correct singular or plural forms by crossing off incorrect forms(i.e. ti he/she/they—is/ase)or circling the correct forms.Failure to correctly indicate this ;? ❑ Individual(s) information may lead to rejection of document recording. ❑ Corporate Officer The notary seal impression must be clear and photographically reproducible. ??' Impression must not cover text or lines.If seal impression smudges,re-seal if a 3 (Title) sufficient area permits,otherwise complete a different acknowledgment form. i of the notary public must match the signature on file with the office of El Partner(s) Signature I the county clerk. IN Attomey-in-Fact Additional information is not required but could help to ensure this ❑ Trustee(s) acknowledgment is not misused or attached to a different document. i? ❑ Other Indicate title or type of attached document,number of pages and date. 1,E Indicate the capacity claimed by the signer.If the claimed capacity is a ti corporate officer,indicate the title(i.e.CEO,CFO,Secretary). 3 • Securely attach this document to the signed document ti ....................-.-..............---..-.................... ..;,..._................................•.:..-................................................................................................................,.-. Iii ACKNOWLEDGMENT State of California County of Fresno ) On May 19, 2008 -before me, T. Rothermel, Notary Public (insert name and title of the officer) personally appeared Darryl S. Denius 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 person(s) acted, executed the instru ment. I 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. T. ROTHERMEL COMM. #1664278 NOTARYPUBLIC CALIfORNM FRESNO COUNTY My Comm.ExDim Ma 5.2010 Si (Seal) 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: Arch Insurance Company Certificate/Acct. No: SU5024981 Deposit Amount: $1,667,000.00 Maturity Date: Depositor: Name: Lennar Fresno, Inc Address: 8080 North Palm, Suite 101 Fresno, CA 93711 Street City/State Zip Job Address: Tract 5600 Received By: Rose Saldivar, Public Works Engineering Date: 05/21/2008 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip ''FINANCE USE ONLY., hep _. Name Rele.ased.By: iia:fed' ri DeEI r f3a Dat e 1 acknowledg6 receipt of the above referenced instrument: Signature: __ �_ -_ _ _ __-- Date_ �_. -_.---_ Comments: ______ "Executed In Duplicate" Bond No.: SU5024981 Premiurri: Included In Performance Bond SUBDIVISION IMPROVEMENT PAYMENT BOND Whereas,the City Council of the City of Fresno, State of California,and Lennar Fresno, 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. 5600 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 Arch 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 One Million Six Hundred Sixty Seven Thousand and No/100---------dollars ($1,667,000.00''"'`),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 Ma 16 20 08 , Principal: LF n alifornia corporation i3y: Princip /6A;�Jeri Insura Com any // Taca,ty)Attorney-In-Fact ".%::_ ....AY3.RSF.in�ii{.'•C..":.:..........::............:::. ..... ...........::: .....i..:M::.,•nn....r:......:n..:.:1.n.,.,..•nn..iS./.•.....:::...:':.::r.:n.,.,...n.:..�..:...w.....:::.,.n:.nn:�.....+,....�.. CALIFORNIA ALL-PURPOSE CERTIFICATE OF ACKNOWLEDGMENT ' State of California f County of Orange r: If: 2+• On 5/16/08 before me, K. Luu, Notary Public ; (Here insert name and title of the officer) ersonall a eared Jeri Apodaca P Y PP €; =1: is who proved to me on the basis of satisfactory evidence to be the person(a) whose name(a)is/=subscribed to 11 r the within instrument and acknowledged to me that]zt$✓she/ executed the same in laia/her/theix authorized t capacity(W, and that by W/her/tom signature(s) on the instrument the person(g), or the entity upon behalf of t which the person(s)acted,executed the instrument. 11: I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. " K. LUUf Commission # 1778641 " WITNESS my h d and official seal. _ ..m Notary Public -California z '`•: _ ' Orange County My Comm.Expires Nov 6,2011 iii (Notary Seal) is Sign re of Notary Public ADDITIONAL OPTIONAL INFORMATION INSTRUCTIONS FOR COMPLETING THIS FORM Any acknowledgment completed in California must contain verbiage exactly as y: DESCRIPTION OF THE ATTACHED DOCUMENT appears above in the notary section or a separate acknowledgment form must be properly completed and attached to that document. The only exception is if a ii document is to be recorded outside of California.In such instances,any alternative 1` acknowledgment verbiage as may be printed on such a document so long as the Y (Title or description of attached document) s .; verbiage does not require the notary to do something that is illegal for a notary in California(i.e. certifying the authorized capacity of the signer). Please check the ; document carefully for proper notarial wording and attach this form if required. (Title or description of attached document continued) ti • State and County information must be the State and County where the document 'E Number of Pages Document Date ri signer(s)personally appeared before the notary Public for acknowledgment. ' • Date of notarization must be the date that the signer(s)personally appeared which ;r must also be the same date the acknowledgment is completed. 3.f �`• Additional information • The nota public must print his or her name as it appears within his or her ( ) notary P P PP Yi commission followed by a comma and then your title(notary public). Print the name(s) of document signer(s) who personally appear at:the time of f notarization. Ij Indicate the correct singular or plural forms by crossing off incorrect forms(i.e. ;?E CAPACITY CLAIMED BY TBE SIGNER Sit he/shcithey;-is/ase)or circling the correct forms.Failure to correctly indicate this E?: ❑ Individual(s) information may lead to rejection of document recording. ❑ Corporate Officer rP The notary seal impression must be clear and photographically reproducible. 1 Impression must not cover text or lines.If seal impression smudges,re-seal if a ?i (Title) sufficient area permits,otherwise complete a different acknowledgment form. #E • Signature of the notary public must match the signature on file with the office of ❑ Partners) the county clerk. t IX Attorney-in-Fact Additional information is not required but could help to ensure this ❑ Trustee(s) acknowledgment is not misused or attached to a different document. Indicate title or type of attached document,number of pages and date. j? ❑ Other Indicate the capacity claimed by the signer.If the claimed capacity is a corporate officer,indicate the title(i.e.CEO,CFO,Secretary). • Securely attach this document to the signed document (? s: ACKNOWLEDGMENT State of California County of Fresno ) on May 19, 2008 — before me, T. Rothermel, Notary Public (insert name and title of the officer) personally appeared Darryl S. Denius 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 person(s) 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. T. ROTHERMEL WITNESS my hand and official seal. COMM. #1664278 Z3 NOTARY PUBLIC-CALIFORNIA FRESNO COUNTY My Comm.Expires May S,2"MO Si�natk�e L��/ `1 ��rY � (Seal) POWER OF ATTORNEY Know All Men By These Presents: That the Arch Insurance Company, a corporation organized and existing under the laws of the State of Missouri, having its principal office in Kansas City, Missouri (hereinafter referred to as the"Company")does hereby appoint Rhonda C.Abel,Jeri Apodaca,Jane Kepner, Nanette Myers, Mike Parizino, James A. Schaller, Rachelle Rheault, and Linda Enright of Irvine,CA(EACH) its true and lawful Attomey(s)-in-Fact, to make, execute, seal, and deliver from the date of issuance of this power for and on its behalf as surety, and as its act and deed: Any and all bonds and undertakings EXCEPTION: NO AUTHORITY is granted to make, execute, seal and deliver bonds or undertakings that guarantee the payment or collection of any promissory note, check, draft or letter of credit. This authority does not permit the same obligation to be split into two or more bonds in order to bring each such bond within the dollar limit of authority as set forth herein. The Company may revoke this appointment at any time. The execution of such bonds and undertakings in pursuance of these presents shall be as binding upon the said Company as fully and amply to all intents and purposes, as if the same had been duly executed and acknowledged by its regularly elected officers at its principal office in Kansas Cit),,,Ala'sSQji>i::;�:;� This Power of Attorney is executed by authority of resolutions adopted by unanimous consent of the Board of Directors of the Company on March 3, 2003, true and accurate copies of which are hereinafter set forth and are hereby certified to by the undersigned Secretary as being in full force and effect: "VOTED, That the Chairman of the Board, the President, or any Vice President, or their appointees designated in writing and filed with the Secretary, or the Secretary shall have the power and authority to appoint agents and attorneys-in-fact, and to authorize them to execute on behalf of the Company, and attach the seal of the Company thereto, bonds and undertakings, recognizances, contracts of indemnity and other writings, obligatory in the nature thereof, and any such officers of the Company may appoint agents for acceptance of process." This Power of Attorney is signed, sealed and certified by facsimile under and by authority of the following resolution adopted by the unanimous consent of the Board of Directors of the Company on March 3, 2003: VOTED, That the signature of the Chairman of the Board, the President, or any Vice President, or their appointees designated in writing and filed with the Secretary, and the signature of the Secretary, the seal of the Company, and certifications by the Secretary, may be affixed by facsimile on any power of attorney or bond executed pursuant to the resolution adopted by the Board of Directors on March 3, 2003, and any such power so executed, sealed and certified with respect to any bond or undertaking to which it is attached, shall continue to be valid and binding upon the Company. OOML0013 00 03 03 Page 1 of 2 Printed In U.S.A. In Testimony Whereof, the Company has caused this instrument to be signed and its corporate seal to be affixed by their authorized officers, this 31st day of_ July 20.07 Arch Insurance Company Attested and Certified Banc* c4 Co"C"TE a sw �� 6 19Tt .e—."Oso' Martin J. Nilse ecretary Edward M.Ti us ice President STATE OF NEW YORK SS COUNTY OF NEIN YORK SS I Peter J. Calleo, a Notary Public, do hereby certify that Edward M. Titus and Martin J. Nilsen personally known to me to be the same persons whose names are respectively as Vice President and Secretary of the Arch Insurance Company, a Corporation organized and existing under the laws of the State of Missouri, subscribed to the foregoing instrument, appeared before me this day in person and severally acknowledged that they being thereunto duly authorized signed, sealed with the corporate seal and delivered the said instrument as the free voluntary act said corporation and as their own free and voluntary acts for the uses and purposes therein set forth. PETER J.CALLEO,ESO. Notary Public,State of New York No.02CA6109338 Ot;Ilfied in New York County Pe r J. Nota ub is COMMISSIon Expires May 3, 2008 My commiss expires 5-03-2008 CERTIFICATION I, Martin J. Nilsen, Secretary of the Arch Insurance Company, do hereby certify that the attached Power of Attorney dated on behalf of the person(s) as listed above is a true and correct copy and that the same has been in full force and effect since the date thereof and is in full force and effect on the date of this certificate; and I do further certify that the said Edward M. Titus, who executed the Power of Attorney as Vice President, was on the date of execution of the attached Power of Attorney the duly elected Vice President of the Arch Insurance Company. IN TESTIMONY WHEREOF, I have hereunto subscribed —y name and affixed.the corporas I of the Arch Insurance Company on this 16th day of_ May —120.08 _ Martin J. Nils Secretary This Power of Attorney limits the acts of those named therein to the bonds and undertakings specifically named therein and they have no authority to bind the Company except in the manner and to the extent herein stated. PLEASE SEND ALL CLAIM INQUIRIES RELATING TO THIS BOND TO THE FOLLOWING ADDRESS: Arch Contractors 8E Developers Group 135 N. Robles Ave.,Ste. 825 Pasadena, CA 91101 yarance Co c SE CpIMiE SERE 1991 OOML0013 00 03 03 Ml:void Page 2 of 2 Printed in U.S.A. i O O O O N O O R O r O o0 O O D` oo O O O O O 0 0 7 R O O R 0 0 0 v'1 O C O O f� N O O M O O� O [� O O �D [� f� O M O O N Q O O �D c� O vi oo �n R O 00 vl R 00 'D C � M V 7 00 O l� \0 00 M O00 O 7 O� --' N T w) O R 00 [� Q\ O --� T Q\ .� r M O N M \D 7 W R 00 (0, M [� N O� l� N N Q\ C 00 n Vl o \0 O M 00 b ON M 00 - M v1 O O C4 06N O r N C 00 lr M N N 0 N N M � M i CD m z E m � ~ a � � w w w a a W W C7 C7 x x Z0 rn U (7 ¢ U q a W 0 a a F C7 wQwAcn a � x � zza � W ° u u A ¢ ° � " " U w U z N m v �Fi H r„ w in a w U 3 O F w w W z A x F. a z w w U w w U z d o Q o �' w w °x H �a u �a o z _ 3 w z w w w w w a -� - U o. 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O N O N O C r O M O O 00 O O V1 O v1 O O a v1 h �O v1 t O� 04 M O M 00 r T� � N N M .--i .r ,zr � ,zr M r- f0 m m E m m c c IL a � 0 cn rn q E F a O O Q U m O a H U U d W F Q w 0 U z W to Gd. o y u1 U 9 o w � F W U W � a y a U p w d F U U U U v n > C7 ¢ Q w W V vi F 0 0 0 0 0 0 0 O O O 0 0 0 0 0 0 0 O 0 O 0 0 0 0 o O o 0 o �c \0 \0 \0 Ic �c \D 10 \c \o \c vi vi v� vi v� v� v� vi vi vi vi v� vi v, oG a5 rx ct rx d a a 0G eG a a a F F F F F F F F F F F F F F m 3 3 3 3 3 3 3 3 3 3 3 3 3 3 a a a a a d A O c d F U) O CL LL Q d' O V � C W U >+ O a 00 d a ..a 0 F s M U o� Y U d 00 0000 00 00 00 00 00 00 00 00 00 00 00 C L O O O O O O O O O O O O O O U O O O O O O O O O O O O O O N N N N N N N N N N N N N N N O OL N Z O NW _L U) O i° Nm O LL Cl) in U 2 O CL N \D O' �O 00 Q\ --� O O _M N v1 O 00 1- O -O O O OO CD O O C O M M M M V a t r (D CD C O '0) C 0 0 0 0 0 0 0 0 0 0 Cl 0 0 0 Na V aN .-. .-. .-. .-. ... ... .-. .-. .-. .-. _. .-. m O Q F Q o o 0 0 0 0 0 0 0 0 0 0 0 0 0 City of MEMORANDUM PLANNING&DEVELOPMENT DEPARTMENT- PLANNING DIVISION •2600 FRESNO STREET-FRESNO, CA 93721 LDI DATE: May 29, 2008 MAY 3 0 2008 TO: ROSE SALDIVAR Planning Division Public Works Department s';anning &Development Dept riTv OF FRFS)NIn FROM: JONATHAN BARTEL Planning & Development Department SUBJECT: SUBMITTAL OF REPLACEMENT PAYMENT FOR 5% BONDING REQUIREMENT FOR TRACT NO. 5600 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING: 1. Certificate of Deposit in the amount of$ 167,000.00 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: California Bank Certificate/Acct. No: 3090005493 Deposit Amount: $167,000.00 Maturity Date: 5/27/2009 Depositor: Name: Lennar Fresno, Inc Address: 8080 North Palm, Suite 101 Fresno, CA 93711 Street City/State Zip Job Address: Tract 5600 Received By: Rose Saldivar, Public Works Engineering Date: 05/21/2008 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip "FINANCE USE ONLY _ em Accepted By: Narne ... Released By: Name Date Type of Release: Mailed _ Hand Delivered Date . _ Date K ec<How e- ge' rece� �of the at o ie a'erei cetl"i 'stamen , Signature: _ _ Date--- Comments: ate .--Comments: j� AUTOMATICALLY RENEWABLE C B CALIFORNIA BANK U Tausr TRUST E }. UISSUED AT� V INE GE ,TER BP kN _ OFFICE IRVINE CALIFORNIA DATE 5/27/2008 GH It wW U 9cx:cic*9cx�c�c�tx9Cic:c9cxx�C(�:**CITY oC4e�cx4C9t R TOWN) (STATE) 9c�c4c:c9e�c�c4c tit LENNAR FRESNO, INC. 3090005493 UO (CUSTOMER NAME) (CUSTOMER NUMBER) _ ONE HUNDRED SIXTY SEVEN THOUSANDS **************** DOLLARS $ 167,000.00 z ix HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK&TRUST PAYABLE TO C T TY OF -'R SNn *** * OR ORDER UPON MATURITY m PECIFIED O AS HEREINAFTER THE MATURITY SOF THIS CERTIFICATE E WILLPON EBEATION 9 11�f�EJVQ�a QF THIS CERTAFTEREDATE,,AND SUCH MATURITY WILL BE AUTOMATICALLY OFFICE. EXTENDED FOR SUCCESSIVE LIKE PERIODS Z UNLESS:(A)AT LEAST TEN DAYS PRIOR TO SUCH ORIGINAL OR/ANY LEXTENDED MATURITY,THIS BANK HAS SENT WRITTEN NOTICE TO THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON ITS 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 0 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 PROV1119, MUCH INTEREST WILL 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 BANK. THE RATE OF INTEREST IS SUBJECT TO CHANGE BY BANK WITHOUT NOTICE, TO THE EXTENT NECESSARY TO COMPLY WITH ANY LAW OR GOVERNMENTAL REGULATION AFFECTING THE DEPOSIT. AUTHORIZED SIGNATURE