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HomeMy WebLinkAboutT-5977 - Cashier Memo - 8/22/2011 City 01 MEMORANDUM DEVELOPMENT AND RESOURCE MANAGEMENT DEPARTMENT•DEVELOPMENT SERVICES DIVISION•2600 FRESNO STREET•FRESNO,CA 93721 DATE: August 22, 2011 TO: MARY BAKER Public Works Department FROM: JONATHAN BARTEL Development and Resource Management Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO 5977 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING: 1 Performance Bond in the amount of$1,124,000.00 2. Payment Bond in the amount of$591,500.00 3 Certificate of Deposit in the amount of$59,000.00 (California Bank &Trust) 4. Check in the amount of$331,520.52 (California Bank &Trust No. 001947) 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 City of MEMORANDUM rn�U-0_. Ago DEVELOPMENT AND RESOURCE MANAGEMENT DEPARTMENT-DEVELOPMENT SERVICES DIVISION-2600 FRESNO STREE-FRESNO,CA 93721 DATE: August 12, 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. 5977 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: $1,124,000.00 2. Payment Bond in the amount of: $591,500.00 Final Map is scheduled for Council action on August 25, 2011. If you have any questions, please contact me at 621-8076. Thank you, Jonathan Bartel RISK MNAGEMENT DIVISION A.,_>p oved ved /Changes: Bond No.: 783076S Premium: $11,240.00 SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas,the City Council of the City of Fresno, State of California, and BN Hudson Ranch L.P. ("principal")will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 5977 , is hereby referred to and made a part hereof;and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and Developers Surety and Indemnity Company as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of One Million, One Hundred Twenty Four Thousand and 00/100 _ dollars ($ 1,124,000.00 ) 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 August 8 2011 Principal: BN Hudson Ranch L.P. By: tit � Crp (Principal) Surety: I pers Suret d rnnity Company By: -- ( r„ty) a e am ,Atto ey-in-Fact CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of FRESNO On August 8, 2011 before me, KIMBERLY WILSON,NOTARY PUBLIC,personally appeared Wayne Lamb, 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. WITNESS my hand and official seal. �F r.u KIMBEKY WILSON a ;� > COMM.#1885445 U _ NOTARY PUBLIC-CALIFORNIA y , cn' ' FRESNO COUNTY MY Comm.EKp, April 14,2814 QJAV ignature o Notary OPTION 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) cn-acw 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 *h*er byWayne SLambapgatry E. Richards, DeAnna Slater, Cynthia Sauceda, Donna M. Smith, Kyle Wilson, jointly or severally*** as their true and lawful Attorneys)-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 Attorneys)-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,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 Attorney,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 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 severalty caused these presents to be signed by their respective officers and attested by their respective Secretary or Assistant Secretary this January 1st,2008. By: �!/� AD%yQ.� ��PANyO� Daniel Young,Mce President y�';o PORgr F ac p O�poR P OCT, 3"�k= = OCT. By._ '-o= 1935 To: UJ 1967 Stephen T.Pate,Senior Vice-President >1 ? d ...lowa,.•*�,aa.` 2 Coq<1Fp4t��P State of California y� County of Orange On August 13th,2008 before me, Jenny TT Nguyen,Notary Public Date Here Insert Name and Title of the Officer personally appeared Daniel Young and Stephen T.Pate 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/shelthey executed the same in his/her/their authorized . NPIY TT capacity(ies),and that by hislher/their signature(s)on the instrument the person(s),or the entity upon behalf of which the person(s)acted,executed the instrument. comm,#1791640 NOTA`PUBW CAUFOM I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is ORANGE G011.1110Y true and correct. MY carom,wOme FW1qM WITNESS my hand and official seal. Place Notary Seal Above Signature --- , J TT Ng ary Public CERTIFICATE 1 The undersigned,as Secretary or Assistant Secretary of DEVELOPERS SURETY AND INDEMNITY COMPANY or 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 farce as of the date of this Certificate. This Certificate is executed in the City of Irvine,California,this 8 t 17 day of AutgU s t, 2011 By: regg Okur , istant Secretary ID-1380(Rev.11/09) • t . Bond No.: 783076S Premium: Included SUBDIVISION IMPROVEMENT PAYMENT BOND Whereas, the City Council of the City of Fresno, State of California, and BN Hudson Ranch L.P. ("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. 5977 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 Cade 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 Five Hundred Ninety One Thousand, Five Hundred and 00/100 dollars ($591,500.00 ), 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 August 8 , 20 11 Principal: BN Hudson Ranch L.P. By: OFV rincipal) Surety: D ers Surety In nitv Comps By: W ne L (S 6ret Attorney -Fact r CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of FRESNO On August 8, 2011 before me, KIMBERLY WILSON,NOTARY PUBLIC,personally appeared Wayne Lamb, 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. KIMEffRLY WILSON WITNESS my hand and official seal. ,a COMM.#1885445 w L NOTARY PUBLi0-CALIFORNIA i =n FRESNO COUNTY a MY Camm.Exp. April 10,2014 ��gnatu;:e'of otary 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 * e Mayne Lamb, Gary E. Richards, DeAnna Slater, Cynthia Sauceda, Donna M. Smith, Kyle Wilson, 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 Attorneys)-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 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,Ececutive.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 Attorney,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 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 January 1st,2008. By \ I ,,��y"AND��. PANY Daniel Young,Vice President °gam@ o 0R4,-, 9 OCT. c z OCT.b 4r yws10 By. °o: 1936 o= W 1967 Stephen T.Pate,Senior Vice-President lowP,:*�� Q41F04�� a State of California County of Orange On August 13th,2008 before me, Jenny TT Nguyen,Notary Public Date Here Insert Name and Title of the Officer personally appeared Daniel Young and Stephen T.Pate Name(s)of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s)islare 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 �UYM which the person(s)acted,executed the instrument. COMM.0 17918W NOTARY PUBLIC C•ALWMM I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is ORANGE COUMY true and correct. COMM.moms Frak 11q WITNESS my hand and official seal. Place Notary Seal Above Signature Je TT Ng n, ary Public CERTIFICATE The undersigned,as Secretary or Assistant Secretary of DEVELOPERS SURETY AND INDEMNITY COMPANY or 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,this 8 t h day of August, 2011 By: i eww�� regg Okur , istant Secretary ID-1380(Rev,11/09) 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 SUSAN M. MOORE, 11780 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. 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.get_co_proVp_EID=100... 8/15/2011 Company Profile Page 2 of 2 Company Complaint Information Company Enforcement Action Documents Company Performance & Comparison Data Composite Complaint Studies Want More? Help Me Find a Company Representative in My Area Last Revised-May 26,201101:14 PM Copyright©California Department of Insurance http://interactive.web.insurance.ca.gov/webuser/idb_co_prof utl.get_co_proVp_EID=100... 8/15/2011 W AUTOMATICALLY RENEWABLE F- C B CALIFORNIA BANK U Tausr TRUST LL 1- Y ISSUED AT FRESNO MAIN OFFICE FRESNO CA DATE 8/10/11 IY W (CITY OR TOWN) (STATE) lr1T BN HUDSON RANCH LP 1340023253 UQ (CUSTOMER NAME) (CUSTOMER NUMBER) a } ;j **FIFTY NINE THOUSAND DOLLARS AND NO/100******************** DOLLARS $**59,000.00** o w ~'`m CITY OF FRESNO a HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK 8 TRUST PAYABLE TO OR ORDER UPON MATURITY = Q AS HEREINAFTER SPECIFIED AND UPON PRESENTATION AND SURRENDER OF THIS CERTIFICATE,PROPERLY ENDORSED.AT THE ABOVE OFFICE F THE MATURITY OF THIS CERTIFICATE WILL BE AFTER DATE,AND SUCH MATURITY WILL BE AUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS ZO UNLESS:(A)AT LEAST TEN 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 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 I' MATURITY DATE,THIS CERTIFICATE IS PRESENTED AND SURRENDERED FOR PAYMENT SAID DEPOSIT BEARS SIMPLE INTEREST AT THE RATE OF %PER ANNUM FROM CATE HEREOF UNTIL ULTIMATE MATURITY AS ABOVE PROVIDED,AND SUCH INTEREST WILL \ BE PAID OR CREDITED AT EACH SUCCESSIVE MATURITY DATE IN ACCORDANCE WITH THE WRITTEN L INSTRUCTIONS OF THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON THE RECORDS OF THIS I� BANK.THE RATE OF INTEREST IS SUBJECT TO CHANGE BY BANK WITHOUT NOTICE.TO THE EXTENT NECESSARYTO COMPLY WITH ANY LAW OR GOVERNMENTAL REGULATION AFFECTING THE DEPOSIT AUTHORIZED SIGNATURE OPS-1(05!09) BN HUDSON RANCH, L.P. GENERAL ACCOUNT ,1210 1-204 7030 N. Fruit, Suite 4101 001947 Fresno, CA 93711 CHECK NO. CHECK DATE CHECK AMOUNT 1947 8-11-11 PAY 1„ ,,,IjI _, I„ II„ 331 520.52 TO THE ORDER OF City of Fresno Pje nE°,rngQn CALIFORNIA BANK TRUST 'Oes,�,.„�E`� ,[y —�— �"—NP ), SECURITY FEATURES INCLUDED.DETAILS ON BACK. 8r 11100 L94 711' is L 2 L00 20 1, 21: L 340 5 508 L L11' 001947 Account Number: 1340023253 Security Amount:- . $59,000.00 ..... .::::: G (Subdivision Agreement) SECURITY FOR: BN Hudson Ranch, LP hereinafter called ASSIGNOR, whose principal place of business is 7030 N Fruit Ave. , Ste #101, Fresno, CA 93711 Street City State Zip Code do (does) hereby assign, and set over to the City of Fresno of the State of California, all right, title, and interest of whatever nature, of assignor, in and to the insured account of assignor in the California Bank & Trust , evidenced by CERTIFICATE OF DEPOSITin the amount of $ 59,000.00 number 1340023253 which is to be delivered to the City of Fresno herewith. Assignor agrees that this assignment carries with it the right in the insurance of the account by the Federal Deposit Insurance Corporation, and includes and gives the right to the City of Fresno to redeem, collect, and withdraw the full amount as indicated above at any time WITHOUT NOTICE TO ASSIGNOR. This assignment is given as security for liability for Tract 5977 - Tmjrnvement Security including interest and penalties, and to insure compliance with the applicable code or ordinances of the City of Fresno, State of California. Assignor hereby notifies the above-named Bank of this assignment. Dated this loth day of August 191X 2 11 e & Title of signor I O: C.—. =;ASS[GN.M N :::;::;: ::;:::::::::;::_:::: 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 toTx day of AUGUST )119 2011 CALIFORNIA BANK & TRUST 7060 N FRESNO ST FRESNO CA 93720 Bank Name Branch Location City State me Title of officer OANN PRICE - VP & BRANCH MANAGER Assignment Form Page 2 Tract No. .... . .. ................ .....CE.RT�....��.......................................�....E. (S�........................::. :.::::: :: :........ _.:. .. :.....::.:.::.::.�:::::::.J1111.[�:� `::: :� >.�::::=:�`:�::�;::�;:::::;:�:;>:::::.. .:: : ::; ::: .;::;.:':;:.::; .........:::::..... ....:.:. .... . .... :. ::..: . : .. ...... ..;;:;::: IRECI,10[1`T:&:PAYEA:R..: NGS: ':``: Receipt is acknowledged of the above assignment and the Certificate of Share(s) identified in the above assignment. The bank named in the above assignment is hereby authorized and directed to pay any earnings on the above-identified account to the above-named assignor until otherwise notified in writing by the of the City of Fresno. Dated this day of 19 By Authorized Officer or Employee Telephone Number For any question concerning this assignment transaction, please call upon the office of the appropriate officer shown herein. SS NME... P:AYBILE:NT:`:QF`;F:U.N:DS AND' RELEASE:`O.FA :..::..:L: .-.:.... .:................. The City of Fresno hereby requests payment to be made to the City of Fresno in the amount of $ from withdrawal of funds in that amount from the Deposit Account identified in the above Assignment. Upon payment of such amount to the City, the City authorizes to release to Assignor all funds in the Deposit Account in excess of$ and relinquishes all further right, title and interest of whatever nature in the Deposit Account. Dated 19 By Authorized Officer or Employee EJW:bjw ASSIGN.DOC (Updated 02/23/95)