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HomeMy WebLinkAboutT-5968 - Cashier Memo - 7/26/2011 City °fMEMORANDUM DEVELOPMENT AND RESOURCE MANAGEMENT DEPARTMENT-DEVELOPMENT SERVICES DIVISION-2600 FRESNO STREET-FRESNO,CA 93721 DATE: July 26, 2011 TO: MARY BAKER Public Works Department FROM: JONATHAN BARTEL Development and Resource Management Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 5968 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING: 1. Performance Bond in the amount of$320,000.00 2. Payment Bond in the amount of$168,500.00 3. Certificate of Deposit in the amount of$27,000.00 (Premier Valley Bank) 4. Copy of receipt of credit card payment of$40,504.30 5. Copy of the Subdivision Agreement identifying itemized applicable charges. If you have any questions, please contact me at 621-8076. Thank you, Jonathan Bartel Company Profile Page 1 of 1 Company Profile LEXON INSURANCE COMPANY 10002 SHELBYVILLE ROAD, SUITE 100 LOUISVILLE, KY 40223 Agent for Service of Process NANCY FLORES,C/O CT CORPORATION SYSTEM 818 WEST SEVENTH STREET LOS ANGELES, CA 90017 Unable to Locate the Agent l'or Service of Process? Reference Information NAIL #: 13307 NAIC Group#: 3488 California Company ID#: 5113-6 Date authorized in California: June 02, 2008 License Status: UNLIMITED-NORMAL Company Type: Property&Casualty State of Domicile: TEXAS 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 RIK MAN DEMENT DIVISION Ap roved: AP Ove W/Cges: l Company Fnforcement Action Documents 11, , ()mpany Performance& Comparison Data Si d Date Cot nyositc Complaint Studies `giant More? Help Me Find a C'otnpany Representative in My Area Last Revised- May 26,201101:14.PM Copyright,(-Cali forma Department of Insurance http://interactive.web.insurance.ea.gov/webuser/idb_co_prof_utl.get co_prof9p_EID=106... 7/26/2011 City of MEMO"NDUM DEVELOPMENT AND RESOURCE MANAGEMENT DEPARTMENT-DEVELOPMENT SERVICES DIVISION-2600 FRESNO STREE-FRESNO,CA 93721 DATE: July 21, 2011 TO: KERRY TROST Personnel Services Department FROM: JONATHAN BARTEL Development and Resource Management Department SUBJECT: REQUEST FOR BOND APPROVAL FOR THE FINAL MAP OF TRACT NO. 5968 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: $320,000.00 2. Payment Bond in the amount of: $168,500.00 Final Map is scheduled for Council action on July 28, 2011. If you have any questions, please contact me at 621-8076. Thank you, Jonathan Bartel i Bond No.: 1059322 SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Fancher Creek Properties, LLC (Village Center) ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 5968 , is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and Lexon Insurance Company as surety, are held and firmly bound unto the City of Fresno ("City"), in thepenal sum of Three Hundred Twenty Thousand and No/100 dollars ($ 320,000.00 ) 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 22, , 20 11 . Principal: cher Properties, LLC (Village Center) By: (Principal) Surety: Lexon Insurance Company By: (Surety) gonnie J. Wortham, Attorney-In-Fact Bond No.: 1059322 SUBDIVISION IMPROVEMENT PAYMENT BOND i Whereas, the City Council of the City of Fresno State of California, and Fancher Creek Properties, LLC (Village Center) ("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. 5968 , 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 Fancher Creek Properties, LLC (Village Center) , 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 Hundred Sixty-Eight Thousand Five Hundred and No/100 dollars ($ 168,500.00 ), 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 July 22, , 20 11 Principal: Fan her Creql< operties, LLC (Village Center) By.-- (Principal) Surety: Lexon Insurance Company By: d4' - Bonnie J.Wortham Surety)Attorney-In-Fact POWER OF ATTORNEY Lexon Insurance Company Lx - 91936 KNOW ALL MEN BY THESE PRESENTS, that LEXON INSURANCE COMPANY, a Texas Corporation, with its principal office in Louisville, Kentucky, does hereby constitute and appoint: Brook T.Smith,Kathy Hobbs,Raymond M.Hundley,Jason D.Cromwell,James H.Martin,***** Sandra F.Harper,Myrtie F.Henry,Virginia E.Woolridge,Deborah Neichter,Jill Kemp,Jackie C.Koestel,Sheryon Quinn,Dawson West,Bonnie J. Wortham its true and lawful Attorney(s)-In-Fact to make, execute, seal and deliver for, and on its behalf as surety, any and all bonds, undertakings or other writings obligatory in nature of a bond. This authority is made under and by the authority of a resolution which was passed by the Board of Directors of LEXON INSURANCE COMPANY on the 1st day of July, 2003 as follows: Resolved, that the President of the Company is hereby authorized to appoint and empower any representative of the Company or other person or persons as Attorney-In-Fact to execute on behalf of the Company any bonds, undertakings, policies, contracts of indemnity or other writings obligatory in nature of a bond not to exceed $2,500,000.00,Two-million five hundred thousand dollars, which the Company might execute through its duly elected officers, and affix the seal of the Company thereto. Any said execution of such documents by an Attorney-In-Fact shall be as binding upon the Company as if they had been duly executed and acknowledged by the regularly elected officers of the Company.Any Attorney-In-Fact, so appointed, may be removed for good cause and the authority so granted may be revoked as specified in the Power of Attorney. Resolved, that the signature of the President and the seal of the Company may be affixed by facsimile on any power of attorney granted,and the signature of the Vice President,and the seal of the Company may be affixed by facsimile to any certificate of any such power and any such power or certificate bearing such facsimile signature and seal shall be valid and binding on the Company.Any such power so executed and sealed and certificate so executed and sealed shall, with respect to any bond of undertaking to which it is attached, continue to be valid and binding on the Company. IN WITNESS THEREOF, LEXON INSURANCE COMPANY has caused this instrument to be signed by its President, and its Corporate Seal to be affixed this 21st day of September, 2009. oy,ANCF LEXON INSURANCE COMPANY \�5,..•.....,•.•% A �:• TEXAS •'•�0 X: INSURANCE D COMPANY BY David E.Campbell ..,. President ACKNOWLEDGEMENT On this 21st day of September, 2009, before me, personally came David E. Campbell to me known, who being duly sworn, did depose and say that he is the President of LEXON INSURANCE COMPANY, the corporation described in and which executed the above instrument;that he executed said instrument on behalf of the corporation by authority of his office under the By-laws of said corporation. "OFFICIAL SEAL" MAUREEN K.AYE Notary Public,State of Illinois My Commission Expires 09/21/13 Maureen K.Aye CERTIFICATE Notary Public I, the undersigned, Secretary of LEXON INSURANCE COMPANY, A Texas Insurance Company, DO HEREBY CERTIFY that the original Power of Attorney of which the foregoing is a true and correct copy, is in full force and effect and has not been revoked and the resolutions as set forth are now in force. n Signed and Sealed at Woodridge, Illinois this n12 Day of_ 120 OaANCF [� \�CO ..... ....% A 0: TEXAS •'��D n X: INSURANCE Uj COMPANY Donald D. Buchanan .... Secretary "WARNING:Any person who knowingly and with intent to defraud any insurance company or other person,files an application for insurance or statement of claim containing any materially false information,or conceals for the purpose of misleading,information concerning any fact materi- al thereto,commits a fraudulent insurance act,which is a crime and subjects such person to criminal and civil penalties" LX1 tr I L ACCOUNT !PREMIER VALLEY BANK NUMBER 108008012 MAIN OFFICE 255 E RIVER PARK CIR STE 180 ACCOUNT OWNER(S) NAME&ADDRESS FRESNO, CA 93720 (559) 438-2002 CITY OF FRESNO 2600 FRESNO STREET OWNERSHIP OF ACCOUNT-CONSUMER PURPOSE FRESNO CA 93721 ❑ INDIVIDUAL ❑ ❑ JOINT ACCOUNT ❑ TENANCY IN COMMON ACCOUNT ❑ COMMUNITY PROPERTY ACCOUNT OF HUSBAND AND WIFE ❑ JOINT ACCOUNT OF HUSBAND AND WIFE WITH RIGHT OF SURVIVORSHIP ❑ TRUST-SEPARATE AGREEMENT• ❑ TOTTEN TRUST OR 11 PAY-ON-DEATH DESIGNATION AS DEFINED IN THIS AGREEMENT © NEW ❑ EXISTING Name and Address of Beneficiaries: TYPE OF ❑ CHECKING El SAVINGS ACCOUNT ❑ MONEY MARKET Q CERTIFICATE OF DEPOSIT ❑ NOW ❑ This is your(check one): BUSINESS CERTIFICATE © Permanent ❑ Temporary account agreement. Number of signatures required for withdrawal 1 FACSIMILE SIGNATURE(S) ALLOWED? ❑ YES ® NO OWNERSHIP OF ACCOUNT - BUSINESS PURPOSE ❑ SOLE PROPRIETORSHIP ❑ CORPORATION ❑ FOR PROFIT ❑ NOT FOR PROFIT IX ❑ PARTNERSHIP The undersigned certifies the accuracy of the information he/she has © Limited Liability Company provided and acknowledges receipt of a completed copy of this form. The undersigned authorizes the financial institution to verify BUSINESS: credit and employment history and/or have a credit reporting agency COUNTY& STATE FRESNO CA prepare a credit report on the undersigned, as individuals. The OF ORGANIZATION. undersigned also acknowledge the receipt of a copy and agree to the AUTHORIZATION DATED: terms of the following agreement(s) and/or disclosure(s): © Terms & Conditions IN Truth in Savings ® Funds Availability DATE OPENED 07/20/11 BY ❑ Electronic Fund Transfers ❑ Privacy ❑ Substitute Checks INITIAL DEPOSIT $ 2-7, 000 .00 ❑ Common Features ❑ ❑ CASH ❑ CHECK ❑ HOME TELEPHONE rr 559) 268-6090 (1) ] BUSINESS PHONE # ( X CITY OF FRESNO DRIVER'S LICENSE # EMAIL I.D. # D.O.B. EMPLOYER MOTHER'S MAIDEN NAME 12): Name and address of someone who will always know your location. IX I.D. # D.O.B BACKUP WITHHOLDING CERTIFICATIONS TIN: 94-6000338 (3)` [X © TAXPAYER I.D. NUMBER - The Taxpayer Identification Number shown above(TIN)is my correct taxpayer identification number. I.D. # D.O.B. © BACKUP WITHHOLDING - I am not subject to backup withholding either because I have not been notified that I am subject to backup withholding as a result of a failure to report all interest or dividends,or the Internal Revenue Service has notified me (q.): that I am no longer subject to backup withholding. IX ❑ EXEMPT RECIPIENTS - I am an exempt recipient under the Internal Revenue Service Regulations. I.D. # D.O.B. SIGNATURE: I certify under penalties of perjury the statements checked in this section and that I am a U.S. citizen or other U.S. person (as defined in the ❑Authorized Signer (Individu Accounts Only) instructions). LX I X (Date) I.D.# D.O.B. Signature Card-CA MPSC-LAZ-CA 10/1/2009 Bankers Systems TM Wolters Kluwer Financial Services,4 1992,2009 Page 1 of 1 PREMIER VALLEY BANK 255 E RIVER PARK CIR STE 180 FRESNO, CA 93720 TRUTH IN SAVINGS DISCLOSURE FOR TIME ACCOUNTS Terms following a © apply only if checked. ❑ The interest rate will not be less than % Acct: BUSINESS CERTIFICATE or more than %. Acct Jt: 108008012 ❑ The interest rate will not Date: JULY 20, 2 011 x❑ The interest rate and annual percentage yield stated below the interest rate initially disclosed to you. are accurate as of the date printed above. If you would like more COMPOUNDING AND CREDITING: current rate and yield information please call us at [21 Frequency- Interest will be (559) 438-2002 compounded daily This disclosure contains the rules which govern your deposit Interest will be Paid monthly account. Unless it would be inconsistent to do so, words and added back to the certificate phrases used In this disclosure should be construed so that the singular includes the plural and the plural includes the singular. [ Withdrawal of Interest Before Maturity. The annual ZI FIXED RATE: percentage yield assumes that interest remains on deposit until 0 The interest rate for your account is •35 % with maturity. A withdrawal of interest will reduce earnings. an annual percentage yield of .35 %. We will pay ❑ Required Interest Distribution. This account requires the this rate until first maturity distribution of interest and does not allow interest to remain in ❑ The interest rate and annual percentage yield for your the account. account depend upon the applicable rate tier. We will pay E�l Effect on Closing an Account. If you close your account these rates before interest is credited, you will not receive the accrued interest. ❑ VARIABLE RATE: MINIMUM BALANCE REQUIREMENTS: ❑ The interest rate for your account is % [2� To Open the Account. You must deposit at least with an annual percentage yield of %. $ S' 000 .00 to open this account. Your interest rate and annual percentage yield may change. To Obtain the Annual Percentage Yield Disclosed. ❑ The interest rate and annual percentage yield for your ❑� You must maintain a minimum balance of account depend upon the applicable rate tier. The interest $ 5, 000.00 in the account each day to obtain rate and annual percentage yield for these tiers may change. the disclosed annual percentage yield. Determination of Rate: ❑ You must maintain a minimum average daily balance of ❑ At our discretion, we may change the interest rate on $ to obtain the disclosed annual your account. percentage yield. The average daily balance is calculated by adding the principal in the account for each day of the period ❑ The interest rate for your account and dividing that figure by the number of days in the period. The period we use is BALANCE COMPUTATION METHOD: P1 Daily Balance Method. We use the daily balance method to ❑ The fixed initial rate is not determined by this rule. calculate the interest on your account. This method applies a El The initial interest rate on your account daily periodic rate to the principal in the account each day. ❑ Average Daily Balance Method. We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. Subsequent rates The period we use is ACCRUAL OF INTEREST ON NONCASH DEPOSITS: ❑ Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Frequency of Rate Change: P� Interest begins to accrue on the business day ❑ We may change the interest rate on your account after the banking day ❑ Your initial interest rate will not change you deposit noncash items (for example, checks). We may change the interest rate on your account at that time MATURITY DATE: and thereafter. 1�1 Your account will mature on 07/20/12 Limitations on Rate Changes: ❑ Your account will mature in ❑ The interest rate for your account will not ❑ We may accelerate the maturity or call this account, at our by more than each option, r�L1�® O 1992 Bankers Systems,Inc.,St.Cloud,MN Form TSD-TIME 6/17/2005 (page 1 of 2) u Your account has no definite maturity date. To withdraw any ❑ You may make unlimited deposits into your account. or part of this deposit without penalty, we must receive at least E� You may not make any deposits into your account until written notice from maturity. • you of your intention to make a withdrawal. The notice must The minimum amount you can deposit is $ specify the exact amount and date of the intended withdrawal. Interest will no longer accrue after the withdrawal date specified ❑ The maximum amount you can deposit is $ in your notice on the amount specified in your notice. We may ❑ terminate this account by mailing a notice to you of our intention to terminate at least ten days before the termination date. The date of intended withdrawal of the last funds in the account, or the termination date, is considered to be the maturity date. TIME DEPOSIT WITHDRAWAL LIMITATIONS: RENEWAL POLICY: 0 Principal.Principal can be withdrawn from ❑ Single Maturity.This account will not renew automatically at the account before maturity only if maturity. If you do not renew the account, we agree at the time withdrawal is requested. Principal withdrawn is included in the amount subject to early withdrawal penalty D� Automatic Renewal: This account will automatically renew ❑ Interest. at maturity. 0 You will have 10 days after the maturity date to withdraw funds without penalty. ❑ Exceptions to Automatic Renewal: This account will not x❑ Interest Timing:You can withdraw interest any timerenew if you withdraw the funds on the maturity date or if we receive written notice from you on or before the maturity date of during the term after the credit to your intention not to renew. your account before the maturity of ❑ There is no grace period following the maturity of this that term without penalty account to withdraw funds without penalty. EARLY WITHDRAWAL PENALTY: RENEWAL TERMS: A penalty ❑x may ❑ will be imposed for withdrawals before 1�i Same Term As Original. Each renewal term will be the same maturity. The penalty will be an amount equal to: as the original term, beginning on the maturity date. ❑ Seven days' interest on the amount withdrawn if the ❑ Different Term: Each renewal term will be withdrawal is made within the first six days after the deposit. , beginning on the maturity date. 180 days' interest on the amount withdrawn RENEWAL INTEREST CALCULATION: ❑ 90 days' interest on the amount withdrawn ❑ Same Interest Calculation: Interest will be calculated on the ❑ 30 days' interest on the amount withdrawn same basis as during the original term. ❑ 1�i Different Interest Calculation:The interest rate will be the same we offer on new time deposits on the maturity date which have the same ❑ The interest rate we will use to calculate the interest term, minimum balance (if any) and other forfeiture will be: features as the original time deposit BONUSES: ❑ You will We will charge the penalty first against any interest then in as a bonus the account, and any excess will be deducted from the ❑ You must maintain a minimum amount you withdraw. of $ ❑ If you withdraw some of your funds before maturity, the to obtain the bonus. interest rate for the remaining funds in your account will be ❑ To earn the bonus, % with an annual percentage yield of © Minimum Balance Accounts. We reserve the right to treat ❑ PRE-MATURITY NOTICE: Your account will mature on any withdrawal which would reduce the balance remaining in . If the account renews,the new the account below the required minimum initial deposit or minimum balance as a withdrawal of the entire account maturity date will be balance and calculate the amount of the penalty accordingly. In certain circumstances, such as the death or incompetence of ❑ The interest rate for the renewed account will be an account owner, the law permits, or in some cases requires, o the waiver of the early withdrawal penalty. Other exceptions /o with an annual percentage yield of may also apply, for example, If this is part of an IRA or other tax-deferred savings plan. ADDITIONS TO ACCOUNT: ❑ The interest rate and annual percentage yield have not ❑ You may make no more than deposits yet been determined. They will be available on into your account each ❑ You may only make deposits into your account Please call to learn the interest rate and annual percentage yield for your new account. limit allowed by law ❑ ADDITIONAL TERMS: Pew ® ©1992 Bankers Systems,Inc.,St.Cloud,MN Form TSD-TIME 6/17/2005 (page 2 of 21 CITY OF FRESNO PARKING 2600 FRESNO ST RM 4064 FRESNO CA 93721 559 621-8815 541619101303196 Merchant ID: 1910130319601 Sale 181111""1002 AMEX Entry Method: Swiped Total: $ 40,504.30 01/19/11 19:21:28 Invg: 000005 APPr Code: 513810 *rvd: Nine Batchg: 000251 Customer Copy THANK YOU! COME AGAIN!