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HomeMy WebLinkAboutT-6095 - Cashier Memo - 8/8/2016 City of MEMORANDUM PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: May 25, 2016 TO: YOLANDA SMITH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 6095 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING: 1. Performance Bond in the amount of$2,357,000.00 2 Payment Bond in the amount of$1,240,500.00 3. Certificate of Deposit in the amount of$124,000.00 (California Bank &Trust) 4. Check in the amount of$7,760.00 (JPMorgan Chase Bank No. 00740497) a. Deposit into 180203 10101 34559 for document preparation fees 5. Check in the amount of$469,825.80 (JPMorgan Chase Bank No. 00738233) a. The balance is identified on Exhibit B of the Subdivision Agreement. 6. Copy of the Subdivision Agreement identifying itemized applicable charges. If you have any questions, please contact me at 621-8684 Thank you Jonatha Bartel ILmI MEMORANDUM CdCL��Ia�l�� PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: May 19, 2016 TO: HEIDI BRIGGS Personnel Services Department FROM: JONATHAN BARTEL / Public Works Department SUBJECT: REQUEST FOR BOND APPROVAL FOR THE FINAL MAP OF TRACT NO. 6095 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: $2,357,000.00 2. Payment Bond in the amount of: $1,240,500.00 If you have any questions, please contact me at 621-8684. Thank you Jonathan Bartel flffu,mMAGEMENT $ON 4pproved [ A proved WIC es L1 te Bond No.• 72BSBHK9559 Premium:$17,678.00/Initial 2 year term Subject to annual renewal thereafter Cambridge at Blossom Hill SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Lennar Homes of California, Inc. ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 6095 . is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and Hartford Fire Insurance Company as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of Two Million Three Hundred Fifty Seven Thousand and 00/100 dollars ($ 2,357,000.00 } 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 May 5 20 16 Lennar Homes of California, Inc., Principal:a rnia co oratio 011 By: ci urety: ford a surance Company By: (Surety) Mechelle Larkin,Attorney-in-Fact CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California ) County of Orange ) On MAY - 5 2016 before me, Kathy R. Mair, Notary Public DATE [Name of Notary Public and Title"Notary Public"] personally appeared MechelleLarkin - - - - - - - - - - - - - - - - -- - - - - - - - - - - - - - - - - - - - - - - [Name(s)of Signer(s)] who proved to me on the basis of satisfactory evidence to be the person(&) whose name(s) is/aye subscribed to the within instrument and acknowledged to me that Ise/she/ executed the same in his/her/th& authorized capacity(+e&), and that by h.Wher/them signature(&) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. KATHY R.NlMR WITNESS my hand and official seal. Commission*2021597 Notary Public-California Orange County MY Comm.Ex Ire&May 22,2017 Signature of Notary Public Place Notary Seal Above ---------------------------------------------- OPTIONAL ------------_-------------------------------- Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended 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 Signer(s) Signer's Name. Mechelle Larkin Signer's Name: ❑ Corporate Officer—Title(s): ❑ Corporate Officer—Title(s): F-1Partner— [ILimited ❑ General ❑ Partner— ❑ Limited ❑ General ❑ Individual ® Attorney-in-Fact ❑ Individual ❑ Attorney-in-Fact ❑ Trustee ❑ Guardian or Conservator ❑ Trustee ❑ Guardian or Conservator ❑ Other: ❑ Other: Signer Is Representing: Signer is Representing: ' I. ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Fresno 1 On before me, Christine Collins, Notary Public (insert name and title of the officer) personally appeared &L!d r7. aL)L)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 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. WITNESS my hand and official seal. CHRISTINE COLLINS Commission#2131344 Notary Public-California Fresno County Camm.E ires Nov 7,2419 r Signature (Seal) Bond No.: 72BSBHK9559 Premium: Incl. in Perf. Bond Cambridge at Blossom Hill SUBDIVISION IMPROVEMENT PAYMENT BOND Whereas, the City Council of the City of Fresno, State of California, and Lennar Homes of California, 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. 6095 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 Hartford Fire 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 Two Hundred Forty Thousand Five Hundred and 001100 dollars ($ 1,240,500.00 ), 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 May 5 _ 2016 Lennar Homes of Califor ia, Inc., Principal:a Cali i c rpora n By: _ ZA rincip Sure/.AaWrire ance Company B. _ urety) Mechelle Larkin, Attorney-in-Fact CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California ) County of Orange ) On before me, Kathy R. Mair, Notary Public , DATE [Name of Notary Public and Title"Notary Public"] personally appeared Mechelle Larkin - -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - [Name(s)of Signer(s)] who proved to me on the basis of satisfactory evidence to be the person(&) whose name(&) is/are subscribed to the within instrument and acknowledged to me that he/she/"executed the same in ha s/her/#Meir authorized capacity(ies), and that by 4is/her/the# signature(s) on the instrument the person(&), 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. WITNESS my hand and official seal. KATHY R.HAIR Commission #2021597 Notary Public-CaNfomla 16Ckmp couft M Comm.E iraa MAY 22,2017 Signer of Nary Public Place Notary Seal Above --------------------------- ------------------ OPTIONAL ---------_----------------------------------- Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages Signer(s) Other Than Named Above: Capacity(les) Claimed by Signer(s) Signer's Name: Mechelle Larkin Signer's Name: ❑ Corporate Officer—Title(s): ❑ Corporate Officer—Title(s). ❑ Partner— ❑ Limited ❑ General ❑ Partner—❑ Limited ❑ General ❑ Individual ® Attorney-in-Fact ❑ Individual ❑ Attorney-in-Fact ❑ Trustee ❑ Guardian or Conservator ❑ Trustee ❑ Guardian or Conservator ❑ Other: ❑ Other: Signer Is Representing: Signer is Representing: Direct Inquiries/Claims to: Y THE HARTFORD Bond T-12 POWER OF ATTORNE One Hartford Plaza Hartford,Connecticut 06155 email.,bond.claims@thehartford.com calla 888-266-3488 1 fax:860-757-5835 KNOW ALL PERSONS BY THESE PRESENTS THAT: Agency Code; 72-180287 Hartford Fire Insurance Company, a corporation duly organized under the laws of the State of Connecticut 0 Hartford Casualty Insurance Company,a corporation duly organized under the laws of the State of Indiana © Hartford Accident and Indemnity Company,a corporation duly organized under the laws of the State of Connecticut Hartford Underwriters Insurance Company, a corporation duly organized under the laws of the State of Connecticut Twin City Fire Insurance Company, a corporation duly organized under the laws of the State of Indiana Hartford Insurance Company of Illinois, a corporation duly organized under the laws of the State of Illinois 0 Hartford Insurance Company of the Midwest, a corporation duly organized under the laws of the State of Indiana 0 Hartford Insurance Company of the Southeast, a corporation duly organized under the laws of the State of Florida having their home office in Hartford, Connecticut(hereinafter collectively referred to as the"Companies")do hereby make, constitute and appoint, up to the amount of Unlimited Stephanie Banh, Mechelle Larkin, Irene Lau, Kathy R. Mair of IRVINE, California their true and lawful Attomey(s)-in-Fact,each In their separate capacity if more than one is named above, to sign its name as surety(ies)only as delineated above by®,and to execute,seal and acknowledge any and all bonds,undertakings,contracts and other written instruments in the nature thereof,on behalf of the Companies In their business of guaranteeing the fidelity of persons, guaranteeing the performance of contracts and executing or guaranteeing bonds and undertakings required or permitted in any actions or proceedings allowed by law. In Witness Whereof, and as authorized by a Resolution of the Board of Directors of the Companies on August 1, 2009, the Companies have caused these presents to be signed by Its Vice President and its corporate seals to be hereto affixed, duly attested by its Assistant Secretary. Further, pursuant to Resolution of the Board of Directors of the Companies, the Companies hereby unambiguously affirm that they are and will be bound by any mechanically applied s�iig`y(natures applied to this Power of Attorney. ��1��y�� rte, fir► I +iafffrcrJ`� �tauXF :' 7979 j�s :i y i74 f. I.- wI979� John Gray,Assistant Secretary M.Ross Fisher, Vice President STATE OF CONNECTICUT ))) ss. Hartford COUNTY OF HARTFORD On this 12th day of July,2012, before me personally came M.Ross Fisher,to me known,who being by me duly sworn,did depose and say:that he resides in the County of Hartford,State of Connecticut;that he is the Vice President of the Companies, the corporations described in and which executed the above instrument;that he knows the seals of the said corporations;that the seals affixed to the said instrument are such corporate seals;that they were so affixed by authority of the Boards of Directors of said corporations and that he signed his name thereto by like authority. � y Kathleen T.Maynard CERTIFICATE Notary Public My Commission Expires July 31,2016 I,the undersigned,Vice President of the Companies,DO HEREBY CERTIFY that the above and foregoing is a true and correct copy of the Power of Attorney executed by said Companies,which is still in full force effective as of MAY - 5 2016 Signed and sealed at the City of Hartford. ?--I q 0(s f f417N E) ,Lkl 00 'V ecns�" -�''+�..sn�• �''ru,�•rur�5ti'';' Sb�.rr.'J� l T9 Kevin Heckman,Assistant Vice President POA 2012 ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Fresno On before me, Christine Collins, Notary Public (insert name and title of the officer) personally appeared Darrvl 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. WITNESS my hand and official seal. CHRISTINE COLLINS Commission #2131344 Notary Public-California a Fresno County My Comm.Expires Nov 7,2019 Signature (Seal) 5/24/2016 Company Profile DEPARTMENTCALIFORNIA OF INSURANI COMPANY PROFILE Company Profile Company Search Company Information Company Information HARTFORD FIRE INSURANCE COMPANY Old Company ONE HARTFORD PLAZA Names HARTFORD, CT 06115 Agent for Service Reference Old Company Names Effective Date Information NAIC Group List Lines of Business Agent For Service Workers' Vivian Imperial Compensation 818 WEST SEVENTH STREET Complaint and SUITE 930 Request for LOS ANGELES CA 90017 Action/Appeals Contact Information Financial Statements Reference Information PD F's Annual Statements NAIC #: 19682 Quarterly California Company ID #: 0085-1 Statements Company Complaint Date Authorized in California: 01/07/1870 Company Performance & License Status: UNLIMITED-NORMAL Comparison Data Company Company Type; Property &Casualty Enforcement Action [State of Domicile: CONNECTICUT _771 Composite Complaints Studies Additional Info back to top Find A Company Representative In NAIC Group List Your Area View Financial Disclaimer NAIC Group #: 0091 HARTFORD FIRE &CAS GRP Lines Of Business 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. AIRCRAFT AUTOMOBILE BOILER AND MACHINERY BURGLARY COMMON CARRIER LIABILITY CREDIT DISABILITY FIRE LEGALINSURANCE LIABILITY MARINE MISCELLANEOUS https:/f nteractive.web.i nsurance.ca.gov/com panyprofi I e/com panyprofi le?event=com panyProfi le&doFuncbon=getCom panyProfi le&ei d=2664 1/2 5/24/2016 Company Profile PLATE GLASS SPRINKLER SURETY TEAM AND VEHICLE WORKERS' COMPENSATION back to top © 2008 California Department of Insurance https://i nteractive.web.i nsurance.ca.gov/com panyprofi I e/com panyprofi le?event=com panyProfii le&doFuncd on=getCom panyProfi I e&ei d=2664 2/2 5/24/2016 Hartford Fire Insurance Company-Company Profile-Best's Credit Rating Center A,i. Best Rating Services ,� . , A.M-Best Company l A.M.Best Rating Services l A.M.Best Information Services About l Careers(Events l Support I Contact Rating Search: Search »Advanced Search A Print this page Rating Services Home _ _ , Ratings »Recent Rating Activity Hartford Fire Insurance Company (?j »Search for a Rating A.M.Best#:002231 NAIC#:19662 FEIN#:060363750 Regional Centers „ Domiciliary Address Rating Process&Definitions y One Hartford Plaza Assigned Rr.ip.ryw arlry Hartford,CT 06155-0001 »Understanding Best's Ratings insurance United States pr »Guide to Best's Ratings companies »Financial Strength Rating Guide Web:wwwlhehartfordthat have,in our opinion,a »Issuer Credit Rating Guide - .com superior ability to meet their »Issue Rating Guide Phone:860-547-5000 ongoing insurance obligations. »National Scale Rating Guide »Country Risk Information — »Market Segment Outlook Based on A.M.Best's analysis,058707-Hartford Financial Services Group Inc is the AMB Ultimate Parent and identifies the Rating Methodology topmost entity of the corporate structure.View a list of operating insurance entities in this structure, Industry Research Bast's Credit Ratings Industry&Market Centers y Financial Stfength Rating View 08i1tilt!fill Best's Credit Ratin�f Analyst Contact an Analyst Rating: A+(Superior) Rating Issued by:A.M.Best Rating Services,Inc. 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View additional news,renorts and products for this company. press Releases Date Title http:/twww3.am best.com/ratings/entities/SearchResul ts.aspx?AltSrc=9 1/2 5/24/2016 Hartford Fire Insurance Company-Company Profile-Best's Credit Rating Center Mar 18,2016 A_M_se Ratiersf the MaxuMSpecialty nsuram a Group Unft_ReYrvj with Positive Implications May 01,2015 A.f+A_Sesl Uograde<Ratings of The Hartford F:nancrai Services Group.trig.afld_Its_Pro aerty/Casual[* Subsidiaries Apr 03,2014 A.M.Best Reyisas Outlook to Poslt_ly_e_fa_r Tlie 11art ord Financial Services Group.Inc.anti Its Property/Casualty Subsidiaries Mar 01,2013 A.M.Best Affirms Ratings of Hartford Financial Services Group and Its PIC Subsidiaries and Downgrades Ratings of Hartford Life Mar 21,2012 A,_M.Best Places Ratings of The Hartford Frnanrr!al 5erwce5Gcoun.Inc.and Its Subidiartes Under Rewew Apr 12,2011 A.M.Best Revises Outlook To Stable for The Hanford Financial Ser+nces Group,Inc.and tt5 Key OfelHealth Subsidiaries Mar 24,2010 Rgibings of Theford Fina I Seryices Grou R.111L.a n d lts 5 Feb 27,2009 A.M B est Downgra d e s Ratin g s of The Hartfor F]n ar V rat 5ervites G rot4u,Inc-a n a ItisSUbsl iari Dec 23,2008 A.M.Best Rem cwes From Under Revrew and Affirms Ratings QF The HarTferd's Qaeratlno Comvarries: 1 2 Page size: 10 19 items in 2 pages European Union Disclosures A.M.Best-Europe Rating Services Limited(AMBERS),a subsidiary of A.M.Best Rating Services,Inc.,is an External Credit Assessment Institution(ECAI)in the European Union(EU).Therefore, credit ratings issued and endorsed by AMBERS may be used for regulatory purposes in the EU as per Directive 2006148/EC. 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About A.M.Best I Site Map I Customer Service I Member Center I Contact Info I Careers I Terms of Use I Privacy Policy Security I Legal&Licensing Regulatory Affairs-Form NRSRO-Code of Conduct-Rating Methodology-Historical Performance Data Copyright©2016 A.M.Best Company,Inc.and/or its affiliates ALL RIGHTS RESERVED. http://www3.ambest.com/ratings/entities/SearchResults.aspx?AltSrc=9 2/2 W AUTOMATICALLY RENEWABLE Q CALIFORNIA BANK U I al'tir TRUST FL H Y ISSUED AT Irvine Center OFFICE Irvine CA DATE 05-L96/201 6 Ix w (CITY OR TOWN) (STATE) W0 Lennar Fresno Inc. FBO City of Fresno***********5791084303 UO (CUSTOMER NAME) (CUSTOMER NUMBER) � � Twenty-Four Thousand and No'100*********.DOLLARS $124, 000 00 H HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK & TRUST PAYABLE TO_C5L Fresna OR ORDER UPON MATURITY Q U) AS HEREINAFTERSPECIFIEDANDUPONPRESENTATf!i11DNA]}�pr,SUR FN ROFTHISL'ERTIFICATE. RDPERLYENDORSEll gTTHE ABOVE gFFIGE- 0.. IO THE MATURITY OF THIS CERTIFICATE WILL BE 0 5! V C�1 AFTER DATE,AND SUCH MATURITY WILL BE AUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS Z UNLESS:(A)AT LEASTTEN DAYS PRIOR TO SUCH ORIGINAL OR ANY EXTENDED MATURITY,THIS BANK HAS SENT WRITTEN NOTICETO 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_ 0.02',PER ANNUM FROM DATE 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 r 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 OPS-1(05/09) Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 074©4�7 8080 N. Palm, Suite 110 Chicago, IL 70-7322 Fresno, CA 93711 Void if over 180 days 719 DA11 AMOUNT PAY 05/09/16 $*****7,760.00 SEVEN THOUSAND SEVEN HUNDRED SIXTY AND 00/100 DOLLARS TO City of Fresno �;,,),,,,,,d s; natory THE ORDER 2600 Fresno Street OF Fresno CA 93721 Aathonzed SiFnnton• Two Signatures Required on Amounts Over S I O0,006,[l[) 1 1 1 1• I • 1Pill 11!1111 1 1 1 1' 1 i 1• 1i,007404971I' 1:07L9232264 88629333111' • • • • MINIM • • o Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 8080 N. Palm, Suite I10 Chicago,IL 00738233 70.2322 Fresno, CA 93711 Void if over 180 days 719 DATE AMOUNT PAY 1 05/02/16 $***469,825.80 FOUR HUNDRED SIXTY NINE THOUSAND EIGHT HUNDRED TWENTY FIVE AND 80/100 **** DOLLARS TO City of Fresno u orired Signntory THE 2600 Fresno Street ORDER OF Fresno CA 93721 udloti.d Siem ory Two SI ms Required an AInuunIsMer$100,000,00 1 . •. 1 . 1 1- 1 . 1 1' 1 1' 1• U 11.00738233112 1:0719232261: 88629333 LII' (9) CALIFORNIA BANK TR uu ST TIME CERTIFICATE DEPOSIT CONFIRMATION & AGREEMENT Account Title: LENNAR FRESNO INC AccountNumber:1 5791084303 C,I 0. �-CS►1 cZ) Issue Date: 05/06/2016 Deposit Amount: $1-24,000. 00 Deposit Term: 12 Months Interest Rate: 0.020 Annual Percentage Yield: 0.020 Maturity Date: 05/06/17 Interest Frequency: ❑At Maturity ❑Annually ❑Quarterly El Monthly Interest Payment Method:El Add On ❑Issue Check ❑Transfer to Account Number: INTEREST RATE INFORMATION ■ Interest Rate is effective through the Maturity Date listed above. Your Interest Rate and annual percentage yield will not change for the term of your deposit. • The Interest Rate on your Account may change at maturity. The Interest Rate assigned will be determined by the balance in your Account on the maturity date. ■ Interest will begin to accrue on the Issue Date listed above. e We use the daily balance method to calculate interest on your Account on an interest accrual basis of 365/366 days. • The annual percentage yield assumes interest will remain on deposit until maturity. You must maintain the Deposit Amount to obtain the disclosed annual percentage yield. A withdrawal will reduce earnings. TRANSACTION LIMITATIONS • You must deposit$5,000.00 to open this Account. ■ No Additional deposits are allowed during the term of the Account. ■ After the Account matures,additional deposits are allowed ONLY during the grace period before the Account renews for another term. Any deposit made during the grace period will not affect the renewal interest rate established on the Account maturity date. • You may not make withdrawals from your Account until the Maturity Date. In addition to the minimum required early withdrawal penalty as described on the reverse,we may impose an early withdrawal fee as follows on the amount withdrawn before the Maturity date: For terms less than 30 days,the fee equals accrued interest ■ For terms 30—179 days,the fee is 1 month simple interest ■ For terms 180 days to less than 2 years,the fee is 3 months simple interest For terms of 2 years or longer,the fee is 6 months simple interest The fee will be calculated using the interest rate in effect on the date your account was opened or renewed. ■ This Account will automatically renew at maturity. If the term of your certificate is 31 days or less,you have up to 3 days after the maturity to withdraw funds without penalty or make additional deposits.If the term of your certificate is 32 days or greater,you have up to 10 days after the maturity to withdraw funds without penalty or make additional deposits.Refer to the Early Withdrawal Policy,in the Time Certificate of Deposit Agreement(see reverse),for other penalty exceptions. • This Time Deposit Confirmation is issued in accordance with the Bank's Deposit Agreement. NON-TRANSFERABLE/NON-NEGOTIABLE