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HomeMy WebLinkAboutT-6108 - Cashier Memo - 9/8/2016 City of MEMORANDUM me�::�■,.� PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: September 8, 2016 TO: YOLANDA SMITH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 6108 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING 1. Performance Bond in the amount of$740,000.00 2. Payment Bond in the amount of$389,500.00 3. Certificate of Deposit in the amount of$39,000.00 (California Bank &Trust) 4. Check in the amount of$6,666.00 (California Bank& Trust No. 22-00077411) a Deposit into 180203 10101 34559 for document preparation fees 5. Check in the amount of$363,950.60 (California Bank & Trust No. 22-00077412) and check in the amount of$8,269.18 (California Bank&Trust No. 22-00077617) totaling $372,219.78 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, e��- Jonathan Bartel City of MEMORANDUM PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: September 1, 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. 6108 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: $740,000.00 2. Payment Bond in the amount of: $389,500.00 If you have any questions, please contact me at 621-8684 Thank you, Jonathan Bartel r�►MAp�M�� hn Ap rtuvgd W`� t gn Bond No.: 705035S Annual Premium: $3,700 SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Fowler Development Company, Inc., a California Corporation ("principal")will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 6108 is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and Developers Surety and Indemnity Company , as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of Seven Hundred Forty Thousand and 00/100 dollars ($ 740,000.00 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 24 2016 Principal: FOWLER DEVELOPMENT COMPANY, INC. By= (Principal) SLIrety: DEVELOPERS SURETY AND INDMENITY COMPANY By. - -N��' (Surety) Nicole Caskey, Attorney-in-Fact CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE§ 1189 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 fir�sh C- ) On -meq 05t 30, 20((P before me, N ediflLi vi 0-ACIif-C, �Jbfu.vt,( _P010 t G Date �^ .' ere Insert Name and Title of the Officer lx' personally appeared I os Ar:,- u Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the persons) whose name(s) is/&R-- subscribed s/atesubscribed to the within instrument and acknowledged to me that he/whey executed the same in his/Ue e r authorized capacity(ies),and that by his/ae4ftir signature(e)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. MADELYN CUELLAR WITNESS my hand and official seal. Comn#ssion#t 2103017 Notary PUMIC-California Fresno County My Comm.EN m Mar 13,2019+ Signature S tune 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(les) Claimed by Signer(s) Signer's Name: _ 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: — 02014 National Notary Association •www.NationalNotary.org - 1-800-US NOTARY(1-800-876-6827) Item #5907 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 gl'that document. State of CALIFORNIA County of FRESNO On August 24, 2016 before me,KIMBERLY WILSON,NOTARY PUBLIC,personally appeared Nicole Caskey, 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. KIMBERl'v WILSON WITNESS my hand and official seal. Commission N 2062659 : .► Notary Public-Celdornia i Z "% Fresno County ' M Comm.Expires Apr 10,2018 Signature of Notary OPTIONAL Though the data below is not required by law,it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT ❑ INDIVIDUAL ❑ CORPORATE OFFICER ❑ PARTNER(S) ❑ LIMITED ® ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S)OR ENTITY(IES) CA-ICW 24(7/00) POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO Box 19725,IRVINE,CA 92623 (949)263-3300 KNOW ALL BY THESE PRESENTS that except as expressly limited,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,do each hereby make,constitute and appoint: ***Kyle Wilson,Donna M Smith, Kimberly Wilson,Nicole Caskey,Wayne Lamb,jointly or severally*** as their true and lawful Attomey(s)-in-Fact,to make,execute,deliver and acknowledge,for and on behalf of said corporations,as surettes,bonds,undertakings and contracts of suretyship giving and granting unto said Attomey(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 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 Chalrman 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 tb any certificate relating thereto by facsimile,and any such Power of Attorney of 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 suretyshlp.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 18th day of April,2016. KY AND I& O�PAN Y o By' �u y �oRpO+¢t,��ry r,ORPOR��c� Daniel Young,Senior Vice-President OCT. 'rc z` 2 OCT,5 ^ O 1936 D W 1967 P Y a'Q * A Mark Lansdon,Vice-President 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 A di 18 2016 before me, Lucille and Nota Public On Here Insert Hems and iVRa el the 611W Oats personally appeared _ Daniel Youn and Mark Lansdon Tiametn}cf u�'igner{et who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s)istare subscribed to the within instrument and acknowledged to me that helshelthey executed the same in his/her/their authorized capacity(ies),and that by hislherltheir signature(s)on the instrument the person(s),or the entity upon behalf of LUCILLE RAYMOND which the person(s)acted,executed the instrument. Commission#r 2001945 Notary Public-CalBwnfa � I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is Z Orange County hue and correct. M Comm.Expires Oct 13,2018 WITNESS my hand and official seal. Place Notary Seal Above Signature . Lucill y rid.Notary Public CERTIFICATE The undersigned,as Seoratary or Assistant Secretary of DEVELOPERS SURETY AND INOEMNITY COMPANY or INDEMNITY COMPANY OF CALIFORNIA,does hereby certi[ 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. PANY This Certificate is executed in the City of Irvine,California,this 2 4th day of August, '2016 16 fi r `9 QCT. sc x ? OCT.5 0 By. io 0 0 1967 �M Cassie J. sford,Assistant 5e tory arpw pa nq{fFppt�`r i ID-1380(Rev.04116) Bond No.: 705035S Premium: Included SUBDIVISION IMPROVEMENT PAYMENT BOND Wherpowler eVeopm9n? ompaiy°f Incl a Caorn°iaCGorpo aaition ("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. 6108 is hereby referred to and made a part hereof; and Whereas, under the terms of the agreement, the principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of Fresno ("City") to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. Now, therefore, the principal and Developers Surety and Indemnity Company as corporate surety, are held firmly bound unto the City and all contractors, subcontractors, laborers, material men, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082 of Part 4 of Division 3 of the Civil Code in the sum of Three Hundred Eighty Nine Thousand, Five Hundred and 00/100 dollars (� 3 ,5 .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 in trument has been duly executed by the principal and surety above named, on Augusto 20�� Principal: FOWLER DEVELOPMENT COMPANY, INC. By. Surety: DEVELW )SURETY AND INDEMNITY COMPANY By: _ �-Zju (Surety) Nico a Caskey, Attorney-in-Fact CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 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 T--"5y1a ,n A } On t 2)�tP before me, NAUd�LIY\ 0__,U-e l 1aX', N� �Ubl c _; Date Were Insert Name and Title of the dfter personally appeared OA-*1 LIS �I Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) whose name(e) is/are- subscribed to the within instrument and acknowledged to me that he/s m*hey executed the same in N04erA4eir authorized capacity(ies),and that by his/hefA+teir signature(s)on the instrument the person(5), or the entity upon behalf of which the person(&)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. MADELYN CUELLAiR WITNESS my hand and official seal. Camrnt:slon#2103017 Nobly Public-C#Itornis Fresno County Signature Comm.Ex ires Mar 13,2019 5 ature 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(lies) Claimed by Signer(s) Signer's Name: 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: 02014 National Notary Association - www.NationalNotary.org - 1-800-US NOTARY(1-800-876-6827) Item#5907 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 trtrahlidness, ac•cur ac v, or validity of•that document. State of CALIFORNIA County of FRESNO On August 24,2016 before me, KIMBERLY WILSON,NOTARY PUBLIC,personally appeared Nicole Caskey, 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. KIMBERLY WILSON WITNESS my hand and official seal. Comm!;Sion#r 2062659 Notary Pub k-CAfifornlj z Fresno County Comm.E Ives A r 10,2018 Signature of Notary OPTIONAL Though the data below is not required by law,it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT ❑ INDIVIDUAL ❑ CORPORATE OFFICER ❑ PARTNER(S) ❑ LIMITED ® ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S)OR ENTITY(IES) CA-ICW 24(7/00) POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO Box 19725,IRVINE,CA 92623 (949)263-3300 KNOW ALL BY THESE PRESENTS that except as expressly limited,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,do each hereby make,constitute and appoint: ***Kyle Wilson,Donna M Smith,Kimberly Wilson, Nicole Caskey,Wayne Lamb,jointly or severally*** as thelf he and lawful Attorney(s)-in-Fact,to make,execute,deliver and acknowledge,for and on behalf of said corporatlons,as sureties,bonds,undertakings and contracts of suretyship 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 substiluton and revocation,and all of the acts of said Attorneys)-in-Fac(,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 oombinafion 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 attorney(s)named in the Power of Attorney to execute,on behalf of the corporations,bonds,undertakings and contracts of suretyship;and that the Secretary or any Assistant Secretary of either of the corporations be,and each of them hereby Is,authorized to attest the execution of any such Power of Attorney; RESOLVED,FURTHER,that the signatures of such officers may be affixed to any such Power of Attorney or to any certificate relating thereto by facsimile,and any such Power of Attorney or certificate bearing such facsimile signatures shall be valid and binding upon the corporations when so affixed and in the future with respect to any bond,undertaking or contract of suretyship to which it is attached. IN WITNESS WHEREOF,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA have severally caused these presents to be signed by their respective officers and attested by their respecWe Secretary or Assistant Secretary this 18th day of April,2016. AND PANY By: b SYpaPog4N�F �Cr06VFo q�C+ Daniel Young,Senior Vice-President OCT. c ? OCT.5 O 1938 O W 1967 By. 7lowF a 0- c Mark Lansdon,Vice-President 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 April 18 2016 before me, Luride Ra mend NotaryPuhlic Date Hna Irwl Name and Title of the Mow personally appeared Danld Younq and Mark Lansdon Name(s)of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s)whose nam islare subscribed to the withln inshmen t and acknowledged to me that helshelthey executed the same In htslherltheir authorized capacity(ies),and that by hislherltheir slgnature(s)on the instrument the person(s).or the entity upon behalf 0f LUCILLE RAYMOND which the person(s)acted,executed the instrument. 17-�`i Commission N 2081945 Notary Public-CslBornla I certify under PENALTY OF PERJURY under the laws of the State of Califomia that the foregoing paragraph is Aranpe County he and correct. My Comm.Expires Oct 13 7418 WITNESS my hand and official seal. Place Notary Seal Above Signature Lucllt y ond,Notary 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 day of t t AND rN0 �fl��� D� 24th August 20.1 6 �S onaorrkr oo� an .2� OCT. x OCT.S s By. - 10 0 1936 o w 1967 Cassie J. sfard,Assistant S tary d'�,, rows a * x ID-1380(Rev.04116) Developers Surety and Indemnity Company - Company Profile - Best's Credit Rating Cen... Page 1 of 2 A.M. Best Rating Services 40 Welcome Back Heidi Briggs I My Member Center I Lag Qul A.M.Best I A.M.Best Rating Services I A.M.Best Information Services About I Careers I Events I Support I Contact Rating Services Home Rating Search: Search »Advanced Search Print this page Ratings s Recent Rating Activity Developers Surety and Indemnity Company u s Search for a Rating A.M.Best 01:051752 NAIC p:52718 FEIN s:420429750 Regional Centers I Mailing Address View Additional Address Information Assigned to Rn.x`fsYEST P.ri.e Rating Process&Definitions a P.O.Box 19725 insurance .pes5 .Understanding Best's Ratings Irvine,CA 92623-9725 companies R l adbnt ■Guide to Best s Ratings United Slates that have, .Financial Strength Rating Guide in our opinion,an excellent ability ■Issuer Credit Rating Guide Web:www.amtrustsurety.com to meet their ongoing insurance a Issue Credit Rating Guide Phone:949-263-3300 obligations a National Scale Rating Guide Fax:949-252-1959 s Country Risk Information a Market Segment Outlook Based on A.M.Best's analysis,051002-AmTrust Financial Services.Inc is the AMB Ultimate Parent and identifies the topmost Rating Methodology . entity of the corporate structure.View a list of operating insurance entities in this structure Industry Research Best's Credit Ratings _ Industry&Market Centers • Fbungh t ds View Deflalllon _ _ Best's Credit Rating Analyst Contact an Analyst Rating: A(Excellent) Rating Issued by:A.M Best Rating Services,Inc, Conferences&Events a Affiliation Code: r(Reinsured) Assistant Vice President:Jennifer Marshall,CPCU,ARM Awards&Recognitions Financial Size Category: XIV($1.5 Billion to$2 Billion) Vice President:Michael J.Lagomarsino,CFA,FIRM Data Submission Center q Outlook: Stable Regulatory Information Action: Affirmed Disclosure Information Effective Date: July 08,2016 Initial Rating Date: January 29,1996 View A.M.Best's Rating Disclosure Form Find a Best's Credit Rating - Enter a Company Name Long-Term Issuer Credit Raring N De Won - A_M_Best Affirms Ratings Of Am-trust Financial Services. Long-Term: a �Tl Inc.and IN Subsidiades a Advanced Search = Jtlly OS.2016 Outlook: Stable Action: Affirmed A.M.Bast Ratlflg Services Effective Date: July 08,2016 Contact Information A Initial Rating Date: June 06,2007 u Denotes Lim*Re Begs Ulno Rating Wstbry A.M.Best has provided ratings&analysis on this company since 1996- financial Shen - - .. _... . .... Lon%-.amt lasuer Credit Effective Date Rating Effective Date Rating 7/8/2016 A 7/8/2016 a 5/29/2015 A 5/29/2015 a 5/30/2014 A 5/30/2014 a 1/8/2014 A 1/8/2014 a 9/20/2013 A-u 9/20/2013 a-u 6/17/2013 A- 6/17/2013 a- 5131/2012 A- 5131 012 a- AMB Credit Reports I`i AMB Credit Report -includes Best's Financial Strength Rating and rationale along with comprehensive analytical commentary,detailed business overview and key financial data. Report Revision Date:7/8/2016(represents the latest significant change). r I- Historical Reports are available in AMB Credit Report Archive,. View additional news,reports and products for this company. Press Releases Pate- Title Jul 08,2016 A.M.Best Affirms Ratings of AmTrust Financial Services Inc and Its Subsidiaries May 29,2015 A.M.Best Affirms Ratings of AmTrust Financial Services.Inc.and Its Subsidiaries Apr 23,2015 A.M.nest Places Ratings of 5pringfreld insurance CompanyUnder Review With Positive_Implicadons Jan 08,2014 AM.Best Uagrar,des Ratirlas of Developers SuBM and Indemnily Corrinany and lgdCaini(y Corngany of California Sep 20,2013 A.M.gest Places Hatings of Developers Surety and Indemnity Co " mi ty Cpmpalny pf i{gmla Under Review May 31,2012 A.M.Best Revises Outlook to Negative for Developers Surety and Indemrnily and Its Subsidiary,Indemnity Company of California http://www3.ambest.com/ratings/entities/SearchResults.aspx?AltSrc=9 9/8/2016 Developers Surety and Indemnity Company - Company Profile - Best's Credit Rating Cen... Page 2 of 2 European Union Disclosures A M Best-Europe Rating Services Limited(AMBERS),a subsidiary ofA 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 2006/46/EC Australian Disclosures A M Best Asia-Pacific Limited(AMBAP),Australian Registered Body Number(ARBN No 150375267),is a limited liability company incorporated and domiciled in Hong Kong AMBAP is a wholesale Australian Financial Services(AFS)Licence holder(AFS No 411055)under the Corporations Act 2001 Credit Ratings emanating from AMBAP are not intended for and must not be distributed to any person in Australia other than a wholesale client as defined in Chapter 7 of the Corporations Act AMBAP does not authorize its Credit Ratings to be disseminated by a third-party in a manner that could reasonably be regarded as being intended to influence a retail client in making a decision in relation to a particular product or class of financial product AMBAP Credit Ratings are intended for wholesale clients only,as defined Credit Ratings determined and disseminated by AMBAP are the opinion of AMBAP only and not any specific credit analyst AMBAP Credit Ratings are statements of opinion and not statements of fact They are not recommendations to buy,hold or sell any securities or any other form of financial product,including insurance policies and are not a recommendation to be used to make investment/purchasing decisions Important Notice:A M Best's Credit Ratings are independent and objective opinions,not statements of fact A M Best is not an Investment Advisor,does not offer investment advice of any kind, nor does the company or its Ratings Analysts offer any forth of structuring or financial advice A M Bests credit opinions are not recommendations to buy,sell or hold securities,or to make any other investment decisions For additional information regarding the use and limitations of Credit Rating opinions,as well as the rating process,information requirements and other rating related terms and definitions,please view Understanding Bests Credit Ratings 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 I 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 9/8/2016 9/8/2016 Company Profile DEPARTMENT OF 114SURA14CE COMPANY PROFILE Company Profile Company Search Company Information Company Information DEVELOPERS SURETY AND INDEMNITY COMPANY Old Company 17771 COWAN,SUITE 100 Names IRVINE, CA 92614 Agent for Service Reference Old Company Names Effective Date Information NAIC Group List Lines of Business Agent For Service Workers' KARISSA LOWRY Compensation 2710 GATEWAY OAKS DRIVE Complaint and SUITE 150N Request for SACRAMENTO CA 95833 Action/Appeals Contact Information Financial Statements Reference Information PDF's Annual StatementsNAIC #: 12718 Quarterly California Company ID #; 4606-0 Statements Company Complaint Date Authorized in California; 08/3t7/i999 Company Performance & License Status; UNLIMITED-NORMAL Comparison Data Company Company Type: Property &Casualty Enforcement Action State of Domicile. IOWA Composite Complaints Studies Additional Info back to top Find A Company Representative In NAIC Group List Your Area View Financial Disclaimer NAIC Group #: 2538 AmTrust NGH 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. AUTOMOBILE BOILER AND MACHINERY BURGLARY FIRE LEGAL INSURANCE LIABILITY MARINE MISCELLANEOUS PLATE GLASS SPRINKLER SURETY back to top 0 https:/(interactive.web.insurance.ca.gov/companyprofiletcompanyprofile?event=companyProfile&doFuncbon=getCompanyProfile&eid=100170 1/2 9/8/2016 Company Profile © 2008 California Department of Insurance https:/fiinteractive.web.insurance.ca.gov/companyprofiletcompanyprofile?event=companyProfile&doFuncbon=getCompanyProfile&eid=100170 212 W AUTOMATICALLY RENEWABLE Q C B CALIFORNIA BANK _V Txiisr TRUST E I- Y ISSUED AT Fresnn Main OFFICE Fresno 8/24/2016 (Y w (CITY OR TOWN) (STATE) WT Fow 1 kNn CompanV Inc 5790400880 O 1MEI (CUSTOMER NUMBLF., F— Thirty Nine Thousand Dollars and No/100 **39 000.00 >_ v DOLLARS $_ F. w j HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK & TRUST PAYABLE TO ('_1ty of Fresno OR ORDER UPON MATURITY Q U) AS HEREINAFTER SPECIFjED ANG UPON PRESENTATION AND SORRENDER DFTHIS CERT IF1f,ATE.I"0PEHLY ENDORSED.AT THE ABOVE OFFICE A ~ TF1€MATURITY OF 1HIS CERTIFICATE WILL BE z AFTER DATE AND SUCH MATURITY WILL BE AUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS Z UNLESS {AI AT l EAST TEN DAYS PRIOR f O SUCH ORIGINAL OR ANY EXTENDED MATURITY.THIS RANK HAS SENT WRITTEN NOTICE TO THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON ITS 0 RECORDS Of BANK'S ELLCTIDN TO PAY THE DEPOSIT AT SUCH ORIGINAL OR ANY EXTENDED MATURITY DR(?I UPON.DR WITHIN TEN DAYS AFTER SUCH ORIGINAL OR ANY EXTENDED MATURITYOATE THIS CERTIFICATE IS PRESENTED AND SUR RENDERED FOR PAYMENT SATO DEPOSIT SEARS SIMPLE INTEREST AT THE RATE OF 0.0.! PER ANNOM FROM DATE HEREOF UNIIL ULTIMATE MATURITY,AS A13OVE PROVIDED AND SUG'F INTEREST WfLE 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 _ NECESSARYTO COMPLY WITH ANY LAW OR GOVERNMENTAL REGULATION AFFECTING THE DEPOSIT. AUTHORIZED SIGNATURE OPS-1(05/09) Account Number: 5 7 9 0 4 0 0 8 8 0 Security Amount: $39,000.00 _ ASSIGNMENT (Subdivision Agreement) SECURITY FOR: FOWLER DEVELOPMENT COMPANY,INC. Hereinafter called ASSIGNOR,whose principal place of business is 1396 W.Herndon#101 Fresno CA 93711 do(does)hereby assign,and set over to the City of Fresno of the State of California,all right, title,and interest of whatever nature,of assignor,in and to the insured account of assignor in the CITY OF FRESNO,evidenced by CERTIFICATE OF DEPOSIT in the amount of $39,000.00 number 5 7 9 0 4 0 0 8 8 0 which is to be delivered to the City of Fresno herewith. Assignor agrees that this assignment caries with it the right in the insurance of the account by the Federal Deposit Insurance Corporation,and includes and gives the right to the City of Fresno to redeem,collect,and withdraw the full amount as indicated above at any time WITHOUT NOTICE TO ASSIGNOR. This assignment is given as security for liability for Tract 6108—Fowler Development Com an -Yearly Term including interest and penalties,and to insure compliance with the applicable code or ordinances of the City of Fresno,State of California. Assignor hereby notifies the above named Bank of the assignment. Dated this 24`h day of August _,2016 Fowler Development Company,Inc. a California Corporation By: Derek W.Hayashi, CFO RECEIPT FOR NOTICE OF ASSIGNMENT Receipt is hereby acknowledged to the City of Fresno of the State of California of written notice of the assignment to the City of the account identified above. We have noted in our records the City's interest in the account as shown by the above assignment and have retained a copy of this sheet. We certify that this account is fully insured by the Federal Deposit Insurance Corporation and that we have received no notice of any lien,encumbrance,hold,claim or obligation of the above identified account prior to the assignment to the City of Fresno. We agree to make payment to the City of Fresno upon request in accordance with the Commercial Banking laws applicable to the institution. Dated this 2 4 th day of August_,2016 California Bank&Trust, 7060 N.Fresno Street Fresno,CA 93720 Bank Name Branch Locatio ity State By Name Title of Officer Margie Hills, Branch Manager California Bank &Trust GV Holdings, Inc. 7060 N. Fresno 11-204/1210 1396 W. Herndon Ave., #101 Fresno, CA 93720 Fresno, CA 93711 Date Check Number Aug 22, 2016 22-00077411 Amount Pay *Six Thousand Six Hundred Sixty Six Dollars 00 Cents* $6,666.00 GV Holdings, Inc. To City of Fresno The 2600 Fresno Street �1 Order Fresno, CA 93721-5017 Per e. pYTn. ♦i /1� Of PA ABLE/ US DOLLARS 11'000 7 74 L L11' ~ii: L 2 L00 204 2i: L 340 59 397 L0 GV Holdings, Inc. California Bank&Trust g , 7060 N. Fresno 11-204/1210 1396 W. Herndon Ave., #101 Fresno, CA 93720 Fresno, CA 93711 Date Check Number Aug 22, 2016 22-00077412 Amount Pay *Three Hundred Sixty Three Thousand Nine Hundred Fifty Dollars 60 Cents* $363,950.60 V To City of Fresno The 2600 Fresno Street Order Fresno, CA 93721-5017 Per Of PAYABLE/N US DOLLARS 110000774 L 211' is L 2 L00 204 2i: i L34059397 Lll' 1• California Bank&Trust GV Holdings, Inc. 7060 N. Fresno 11-204/1210 1396 W. Herndon Ave., #101 Fresno, CA 93720 Fresno, CA 93711 Date Check Number Aug 31, 2016 22-00077617 Amount Pay *Eight Thousand Two Hundred Sixty Nine Dollars 18 Cents* $8,269.18 GV Holdings, Inc. To City of Fresno ,. The 2600 Fresno Street Order Fresno, CA 93721-5017 Of Pe YASLEIN US DOLLARS .. 110000 7 76 L 71r : L210020421: L 340 5 ll