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T-6126 - Cashier Memo - 9/28/2017
City of le Ift MEMORANDUM PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: September 28, 2017 TO: YOLANDA SMITH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 6126 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING: 1. Performance Bond in the amount of$2,201,000.00 2. Payment Bond in the amount of$1,158,500.00 3. 5% Performance Security a. Certificate of Deposit in the amount of$116,000.00 (California Bank&Trust) 4. The Balance on Exhibit B of the Subdivision Agreement a. Check in the amount of$430,743.28 (JPMorgan Chase Bank N.A. No. 00898738) 5. Document preparation fees deposit into 180203 10101 34559 a. Check in the amount of$5,572.00 (JPMorgan Chase Bank N.A. No. 00898735) 6. Copy of the Subdivision Agreement identifying itemized applicable charges. If you have any questions, please contact me at 621-8684. Thank your Jonathan Bartel lei MEMORANDUM PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: September 26, 2017 TO: HEIDI BRIGGS Personnel Services Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: REQUEST FOR BOND APPROVAL FOR THE FINAL MAP OF TRACT NO. 6126 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: $2,201,000.00 2. Payment Bond in the amount of: $1,158,500.00 If you have any questions, please contact me at 621-8684. Thank you, Jonathan Bartel RISK MANOWNT DIV DN Appirmd Lr proved hangea U Date Bond No.: SUR23100202 SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Lennar Homes of California, Inc. ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 6126, is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and Ironshore Indemnity, Inc., as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of Two Million Two Hundred One Thousand and 001100 dollars ($ 2.201,000.00) 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 September 4, 2017. Principal:-Le ar om a alifn nia Inc. By: - ti (Principal) rety: r s r n emnit Inc. By: f r +} - _ (Surety) e ore, Attorney-in-Fact 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 September 6 2017 before me, Christine Collins. Notary Public (insert name and title of the officer) personally appeared Darryl S. Denius who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal, CHRIsrINE COLLINs Commission #2131344 .-� Notary Public-California z Fresno County M Comm. Expires Nov 7,2019 Signature (Seal) POWER OF ATTORNEY III- 23100202 Ironshore Indemnity Inc. KNOW ALL MEN BY THESE PRESENTS,that IRONSHORE INDEMNITY INC.,a Minnesota Corporation,with its principal office in New York, NY does hereby constitute and appoint:James I.Moore,Bonnie Kruse,Stephen T.Kazmer,Dawn L.Morgan,Kelly A.Gardner,Elaine Marcus,Jennifer J.McComb Melissa Schmidt,and Tariese M.Pisciotto 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 IRONSHORE INDEMNITY INC.on the 22nd day of April,2013 as follows: Resolved, that the Director 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 $5,500,000 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 Director and the seal of the Company may be affixed by facsimile on any power of attorney granted, and the signature of the Secretary, 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, IRONSHORE INDEMNITY INC.has caused this instrument to be signed by its Director,and its Corporate Seal to be affixed this 2nd day of July,2013. IRONSHORE INDEMNITY INC. aF�k, V 5EA1. 1919 M4�, fi Daniel L Suswjmf Director ACKNOWLEDGEMENT On this 2nd day of July, 2013,before me,personally came Daniel L.Sussman to me known,who being duly sworn,did depose and say that he is the Director of Ironshore Indemnity Inc.,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. ti,.1H l.,,, AYYTAYLDR .``�r*......,- Notarypublic-StateofTennessee = = Davidson County - BY My Commission Expires 07-08-19 Amy aylor NotarV Public CERTIFICATE I, the undersigned, Secretary of IRONSHORE INDEMNITY INC., a Minnesota 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. Signed and Sealed at this 4th Day of September 20 17 a' ter,u: Patel S.Giordano Secretary 'WARNING:Any person who knowingly and with intent to defraud any insurance company or other person,files and application for insurance or statement of claim containing any materially false information, or conceals for the purpose of misleading information concerning any fact material thereto, commits a fraudulent insurance act,which is a crime and subjects such person to criminal and civil penalties." State of Illinois} } ss. County of DuPage } On September 4, 2017, before me, Alexandra Sartori, a Notary Public in and for said County and State, residing therein, duly commissioned and sworn,personally appeared James I. Moore known to me to be Attorney-in-Fact of Ironshore Indemnity Inc. the corporation described in and that executed the within and foregoing instrument, and known to me to be the person who executed the said instrument in behalf of the said corporation, and he duly acknowledged to me that such corporation executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal, the day and year stated in this certificate above. My Commission Expires July 5, 2020 C 9101A " Yfn '�A�- OFFICIAL SEAL Ale n.( ; SartoriNot Public ALEXANDRA SARTORI NOTARY PUBLIC, STATE OF ILLINOIS My Commission Expires Jul 5, 2020 Commission No. 840142 Bond No.: SUR23100202 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. 6126 , 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 Ironshore Indemnity Inc., 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 One Hundred Fifty Eight Thousand Five Hundred and 001100 dollars ($1.158,500.00), 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 September 4, 2017. Principal,,Le ar Hornesi6VCalifornla. Inc. By:- �� ' (Principal) 5 Oety: cb har I ermnit Inc. By: - (surety) '' a e Dore, Attorney-in-Fact 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 September 6, 2017 before me, Christine Collins Notary Public (insert name and title of the officer) personally appeared Darryl S. Denius , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. CHRISTINE.Col_I_INS Commission #2131344 Notary Public -California n Z Fresno County My Comm. Expires Nov 7, 2019 Signature (Seal) POWER OF ATTORNEY III- 23100202 Ironshore Indemnity Inc. KNOW ALL MEN BY THESE PRESENTS,that IRONSHORE INDEMNITY INC.,a Minnesota Corporation,with its principal office in New York, NY does hereby constitute and appoint:James I.Moore,Bonnie Kruse,Stephen T.Kazmer,Dawn L.Morgan,Kelly A.Gardner,Elaine Marcus,Jennifer J.McComb, Melissa Schmidt,and Tariese M.Pisciotto 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 IRONSHORE INDEMNITY INC.on the 22nd day of April,2013 as follows: Resolved, that the Director 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 $5,500,000 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 Director and the seal of the Company may be affixed by facsimile on any power of attorney granted, and the signature of the Secretary, 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, IRONSHORE INDEMNITY INC. has caused this instrument to be signed by its Director,and its Corporate Seal to be affixed this 2nd day of July,2013. IRONSHORE INDEMNITY INC. L P�1� 9y: Daniel L Sus?rws Director ACKNOWLEDGEMENT On this 2nd day of July,2013,before me, personally came Daniel L.Sussman to me known,who being duly sworn,did depose and say that he is the Director of Ironshore Indemnity Inc., 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. q.T" 0.p`'• 6M Y TAYLOR *►* ' Notary public-StateofTennessee Davidson County BY J4�,Amqqw My Commission Expires 97-0&19 �y q+,'-•_ Amy aylof Nolarg Public CERTIFICATE I, the undersigned, Secretary of IRONSHORE INDEMNITY INC., a Minnesota 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. Signed and Sealed at this 4th Day of September 120 17 aSEAL w Paul S.Giordano Secretary 'WARNING:Any person who knowingly and with intent to defraud any insurance company or other person,files and application for insurance or statement of claim containing any materially false information, or conceals for the purpose of misleading information concerning any fact material thereto, commits a fraudulent insurance act,which is a crime and subjects such person to criminal and civil penalties:' State of Illinois} ) ss. County of DuPage } On September 4, 2.017, before me, Alexandra Sartori, a Notary Public in and for said County and State, residing therein, duly commissioned and sworn,personally appeared James I. Moore known to me to be Attorney-in-Fact of Ironshore Indemnity, Inc. the corporation described in and that executed the within and foregoing instrument, and known to me to be the person who executed the said instrument in behalf of the said corporation, and he duly acknowledged to me that such corporation executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal, the day and year stated in this certificate above. My Commission Expires July 5, 2020 OFFICIAL SEAL % ALEXANDRA SARTORI 0 7 1 � NOT PUBLIC, STATE OF ILLINOIS Ale nd a Sartori, No Public My Commission Expires Jul 5, 2020 Commission No. 840142 9/8/2017 7y Company Profile <F141 "j;1 1+� . c. COMPANY PROFILE Company Profile Company Search Company Information Company Information IRONSHORE INDEMNITY INC. Old Company 28 LIBERTY STREET Names NEW YORK, NY 10005 Agent for Service Reference Old Company Names Effective Date Information NAIC Group List MUTUAL SERVICE CASUALTY INSURANCE COMPANY 04/23/2008 Lines of Business Workers' Agent For Service Compensation KARISSA LOWRY Complaint and 2710 GATEWAY OAKS DRIVE Request for SUITE 150N Action/Appeals SACRAMENTO CA 95833 Contact Information Financial Statements PDF's Reference Information Annual Statements - QuarterlyNAIL # 23647 Statements - California Company ID #, 1539-6 Company Complaint 1/14/1958 Company Date Authorized in California: 0 Performance & _ Comparison Data License Status: UNLIMITED-NORMAL Company --- -- - - - Enforcement Action Company Type: 71 Property &Casualty Composite Complaints Studies State of Domicile: MINNESOTA Additional Info Find A Company back to top Representative In Your Area View Financial NAIC Group List Disclaimer NAIC Group #: 4509 Ironshore 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 COMMON CARRIER LIABILITY DISABILITY FIRE LIABILITY MARINE MISCELLANEOUS PLATE GLASS SPRINKLER https://interactive.web.insurance.ca.govlwmpanyprofile/companypraflie?event=companyProfile&doFunction=getCompanyPrDfile&eid=3455 1/2 9/8/2017 Company Profile SURETY TEAM AND VEHICLE back to top © 2008 California Department of Insurance https://interactive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfile&doFunction=getCompanyProfile&eid=3455 2/2 9/8/2017 Ironshore Indemnity Inc.-Company Profile-Best's Credit Rating Center A.M. Best Rating Services Ironshore Indemnity Inc. (?) A.M.Best#:013847 NAIC#:23647 FEIN#:41 01 21 64 0 Mailing Address View Additional Address Information Firrenciol 6,umgth Rig P.O.Box 3407 x t s New York, 10008 A Exc Iml United States es Assigned to insurance companies that have,in our opinion, Web:www.ironshore.com an excellent ability to meet their ongoing insurance Phone:646-826-6600 obligations. Fax:646-826-6601 View additional news,reports and products for this company. Based on A.M.Best's analysis,051114-Liberty Mutual Holding Company Inc.is the AMB Ultimate Parent and identifies the topmost entity of the corporate structure.View a list of operating insurance entities in this structure. Best's Credit Ratings Financial Strength Rating View Definition Rating: A(Excellent) Affiliation Code: g(Group) Financial Size Category: XIV($1.5 Billion to$2 Billion) Outlook: Stable Action: Affirmed Effective Date: May 02,2017 I Initial Rating Date: April 17,2008 Long-Term Issuer Credit Rating View Definition Long-Term: a Outlook: Stable Action: Affirmed Effective Date: May 02,2017 Initial Rating Date: April 17,2008 u Denotes Under Review Best's Rating Best's Credit Rating Analyst Rating Issued by:A.M.Best Rating Services,Inc. Senior Financial Analyst:Gregory Dickerson Senior Director:Michael J.Lagomarsino,CFA,FRM Disclosure Information I View A M.Best's Rating Disclosure Form JA,M_I3srlHQmcvesfromiJime, eview wish Deve[o In q Im ilicaEions RFfirms Crsd t of nshgre c.and[s [di Ir; May 02,2017 Rating History 1 A.M.Best has provided ratings&analysis on this company since 2008. Financial Strength Rating I Effective Date Rating 5/2/2017 A 12/5/2016 A u 6/24/2016 A 11/23/2015 A u 7/31/2015 Au 8/20/2014 A 6/25/2013 A 6/11/2012 A- Long-Term Issuer Credit Rating Effective Date Rating 5/2/2017 a 12/5/2016 au 6/24/2016 a 11/23/2015 au 7/31/2015 au 8/20/2014 a http://ratings.ambest.com/CompanyProfile.aspx?ambnum=13847&U Ratingld=2392449&bl=O&AltSrc=9&PPP=&AltNum=O&Ext_User=&Ext_Misc=&Por... 1/2 9/8/2017 Ironshore Indemnity Inc.-Company Profile-Best's Credit Rating Center 6/25/2013 a 6/11/2012 a- AMB Credit Reports l-- Best's Credit Report -induces Best's Financial Strength Rating and rationale along with comprehensive analytical commentary,detailed business overview and key financial data. Report Revision Date:5/2/2017(represents the latest significant change). Historical Reports are available in Best's Credit Report Archive. 5 , View additional news,reports and products for this company. Press Releases Date Title May 02,2017 o es from Under 1a11.iew with Developing Im Itcations Affirms Credit Ratm s of lignshore Inc-arid ImSybsidiarie� Dec OS,2016 AM.Best Places Cre-dills of Ironshore Subsidiaries Under Review With Develogling Im l cati Jun 24,2016 A.M.Best Removes From Under Review and Affirms Ratings of1ropsbwelric.and Subsidiaries!Assi ns Negative Outlook Apr 12,2016 A_.M_.Best Pfares_Ratings of Lexon Insurance Company and Band Safeguard Insurance Company Under Review y-th Positive Implications Dec 17,2015 M.Best Commen s o -Raliln s of iron hare diarie rellowin Annou to enY Relate to Fou Ch Nov 23,2015 A-M. t Maintains Under Reyfew,with Ne gative Im pl ications Statu5 for Ratio gs of Ironshore Inc..arid Its 5ubsidianes Jul 31,2015 Best Places Ra[ing5 of Ironshore Inc-an Its Subsidiaries Under Revietiy,With NegafivB lnmlications Aug 20,2014 AN.BestAffirms Ratios of Ironshore Insurance Ltd.and IUAffillaWs Jun 25,2013 A.M.Best Upgrades Ratings of Ironshore Inc.and Its Subsidiaries Jun 11,2012 A.M.Best Revises Ootlock to Positive for Ifonshpre Inc and Its Operating.Subsidiaries 1 2 Page size: 10 18 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 2006/48/EC. Australian Disclosures A.M.Best Asia-Pacific Limited(AMBAP),Australian Registered Body Number(ARBN No.150375287),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 form of structuring or financial advice.A.M.Best's 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 Best's 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©2017 A M Best Company,Inc.and/or its affiliates ALL RIGHTS RESERVED. http://ratings.ambest.com/CompanyProfile.aspx?ambnum=13847&URatingld=2392449&b1=0&AltSrc=9&PPP=&AltNum=O&Ext User=&Ext Misc=&Por... 2/2 W AUTOMATICALLY RENEWABLE C B CALIFORNIA BANK U TnLrsr TRUST LL l— Y ISSUED AT Irvine Center OFFICE Irvine CA DATE 9/5/17 W (CITY OR TOWN) (STATE) W0 **Lennar F no Inc FBO Ci f Fresn **********5791084410************ U0 (CUSTOMER NAME) (CUSTOMER NUMBER) 0 One Hundred Sixteen Thousand and No/100*************DOL.LARS $ 116 000.00 `o �- W c j HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK d TRUST PAYABLE TO City Of Fresno _ OR ORDER UPON MATURITY Q rn AS HEREINAFTER SPECIFIED AND UPON PRESENTATION AND SURRENDER OFTHIS CERTIFICATE,PROPERLY ENDORSED,AT THE ABOVE OFFICE. F A THE MATURITY OFTHIS CERTIFICATE WILL BE—9/rj/1 8 AFTER DATE,AND SUCH MATURITY WILL BE AUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS I� Z 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, ...R.;By UPON OR WITHIN TEN DAYS AFTER SUCH ORIGINAL OR ANY EXTENDED MATURITY DATE,THIS CERTIFICATE IS PRESENTED AND SURRENDERED FOR KTIT, SAID DEPOSIT BEARS SIMPLE INTEREST AT THE RATE OF PER ANNUM FROM DATE HEREOF UNTIL ULTIMATE MATURITY,AS ABOVE PROVIDED,AND SUCH INTEREST WILL i I BE PAID OR CREDITED AT EACH SUCCESSIVE MATURITY DATE IN ACCORDANCE WITH THE WRITTEN INSTRUCTIONS OF THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON THE RECORDS OF THIS BANK.THE RATE OF INTEREST IS SUBJECT TO CHANGE BY BANK WITHOUT NOTICE,TO THE EXTENT NECESSARY TO COMPLY WITH ANY LAW OR GOVERNMENTAL REGULATION AFFECTING THE DEPOSIT, AUTHORIZED SIGNATURE OPS-1(06/16) A division of ZB,N.A.Member FDIC Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 8080 N. Palm, Suite 110 Chicago,IL 00898738 Fresno, CA 93711 Void if over 180 days 719 DATE AkIOUNT PAY 09/05/17 �6 X430,743.28 FOUR HUNDRED THIRTY THOUSAND SEVEN HUNDRED FORTY THREE AND 28/100 ****************** DOLLARS TO Ci of Fresno-Development THE City resno- evepment Authnrired Signatory ORDER 2600 Fresno St OF Fresno CA 93721 Auth tzed Signatory Two Signatu Vequirad on Amounts(Ivor S100,000.00 11`0089873811' i:07L923226i: 886293331ii1r Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 8080 N.Palm, Suite 110 Chicago,IL 00898735 70-2322 Fresno,CA 93711 Void if over 180 days 719 DATE AMOUNT PAY 09/05/17 $*****5,572.00 FIVE THOUSAND FIVE HUNDRED SEVENTY TWO AND 00/100 ********************************** DOLLAII THOE City of Fresno-Development Authorized Si natory ORDER 2600 Fresno St OF Fresno CA 93721 Auiliorirrd Signatory Two Signatures RC•gLiired on A+nounts Over$100,000.00 • 'k...o:: E• . . •• . • •• •• .• 11.008 913 7 3 511" 1:07L9232261: 88629333LIr (DCALIFORNIA'r BANK U5T TIME CERTIFICATE DEPOSIT CONFIRMATION & AGREEMENT Account Title: LENNAR FRESNO INC Account Number:5791084410 Issue Date: 09/05/2017 Deposit Amount: $116,000.00 Deposit Term: 12 Months Interest Rate: 0.050 Annual Percentage Yield: 0.050 Maturity Date:09/05/2018 Interest Frequency: ❑At Maturity ❑Annually ❑Quarterly EI Monthly Interest Payment Method:O Add On ❑Issue Check ❑Transfer to Account Number: Certificate of Deposit (CD) J.�' CALIFORNIA BANK TRUST For important terms governing your account,please see the Deposit Account Agreement.Current copies of the Deposit Account Agreement are available at any branch or online at www.calbanktrust.com.Information current as of 12/01/2016. AccountOpening Minimum deposit needed to open account Certificate of Deposit(CD) $1,000 Jumbo Certificate of Deposit(CD) $100,000 Automatically Renewable Your CD will renew automatically at maturity for a similar period unless we send you notice of nonrenewal.We will send a notice before maturity to provide you with an opportunity to pre- vent renewal during the grace period. Grace Period Your grace period is ten(10)calendar days beginning on the date of maturity or three(3)calen- dar days beginning on the date of maturity if the term of your certificate is 31 days or less. Account Changes Changes to the account are only allowed during the grace period.If you wish to change the term of your CD,you will need to close your existing CD and open a new CD with the desired term. Deposits After the account is opened,you may not make a deposit into the account until the maturity date.You may make an additional deposit on the maturity date and during the grace period. Interest and Payment Fixed Rate Your disclosed interest rate will not change until the CD renews at first maturity. Interest Compounding Daily Interest Information and Term See the separately provided"Time Deposit Confirmation"for interest rate,annual percentage yield,and the CD's maturity date and term. Interest Payment Interest will be paid monthly,quarterly,semi-annually,annually,or at maturity. See the sepa- rately provided`Time Deposit Confirmation"for details on your interest payment frequency. Annual Percentage Yield(APY)Calculation The term APY means a percentage rate reflecting the total amount of interest on an account based on the disclosed interest rate,the frequency of compounding for a 365-day period,and the assumption that interest paid remains in the account.A withdrawal will reduce earnings. WithdrawalsCD • • • on side) Early Withdrawal Penalties Early withdrawal/closure penalties may be assessed when principal is withdrawn from a CD prior to the maturity date. Penalty Calculation The early withdrawal penalty is calculated based on the interest rate paid on your CD at the time of withdrawal and the length of your CD term.The penalty applies regardless of the length of time the funds have remained on deposit.The early withdrawal/closure penalties may affect the principal of the CD. CD Terms 31-days or less:The penalty assessed is equal to all interest the principal withdrawn would have earned for the entire term of the CD. CD Terms 32-days to 1-year: The penalty assessed is equivalent to 90 days interest earned on the amount of principal withdrawn. CD Terms Over 1-year:The penalty assessed is equivalent to 180 days interest earned on the amount of principal withdrawn Penalty may be waived if a depositor dies,is declared incompetent,or for other reason at our sole discretion. A division of ZB,N.A.Member FDIC. CD Withdrawals (continued) Principal Withdrawals You may make withdrawals of principal from the account before maturity.However,principal withdrawn before maturity is included in the amount subject to early withdrawal penalties.A withdrawal may be made on the maturity date or during the grace period without penalty. Interest Withdrawals For CDs whose interest remains on deposit,interest may be withdrawn at any time during the term after it has been paid.Interest may also be withdrawn at maturity or during the grace period.After the grace period,interest not withdrawn will become principal and any withdrawal of those funds prior to the next maturity date will be subject to early withdrawal penalties. Additional Disclosures Amendments These terms and your Deposit Account Agreement are subject to change with such notice as required by law.See your Deposit Account Agreement for details. Other Fees Please contact us regarding fees for services not listed. Dispute Resolution Agreement Your Deposit Account Agreement contains a Jury Waiver and a Class Action waiver.Disputes are subject to binding Judicial Reference(a)if the Jury Waiver is not enforced,or(b)you are a con- sumer and you request Judicial Reference.See your Deposit Account Agreement for more infor- mation. A division of ZB,N.A.Member FDIC. SOMPO INTERNATIONAL ASSUMPTION OF LIABILITY CERTIFICATE (the "Certificate") Obligee: City of Fresno (Name&Address) 2600 Fresno St T��u Fresno, CA 93721 Principal: Lennar Homes of California Inc (Name&Address) 8080 N Palm Ave #110 Fresno, CA 93711 Effective 9/04/2018 ("Effective Date"), this Certificate hereby provides for the assumption by Endurance Assurance Corporation (the "Surety") of future rights and liabilities as the surety under Bond Number SUR23100202 (the "Original Bond") previously issued in favor of the Obligee. This certifies that the Surety, in consideration of the agreements and covenants herein contained and other good and valuable consideration, assumes future liability as the surety under the Original Bond. BY ISSUANCE OF THIS CERTIFICATE IT IS AGREED: 1. That the Surety assumes future rights and liabilities as the surety under the Original Bond, which, as of the Effective Date, the Original Bond is now designated with a new bond number EACX084000176 (the"New Bond"). 2. That the rights and future liabilities of the Surety under the New Bond: (a)shall be subject to all of the terms, conditions, limitations and warranties contained in the Original Bond and any written amendments or agreements thereto; and (b) shall in no event be greater than the penal sum of the Original Bond, including any written amendment, agreements or obligations stipulated in the Original Bond form thereto. 3. As of the Effective Date, all premiums paid in remittance of future billings under the New Bond will inure to the Surety. IN WITNESS WHEREOF, the Surety has caused this Certificate to be duly executed as of the Effective Date. Endurance Assurance Corporation (Surety) By: o) � - Sabrina Barber Attorney-in-Fact Revised 2018.5.03 Sompo International 1221 Avenue of the Americas, New York, NY 10020, U.S. +1.212.209.6500 www.sompo-inti.com ENDURANCE ASSURANCE CORPORATION 137 POWER OF ATTORNEY Kjrow aff9Ken 6r theSe(Present, that ENDURANCE ASSURANCE CORPORATION,a Delaware corporation(the"Corporafion',with offices at 4 Manhaltanville Road,3rd Floor,Purchase,NY 10577,has made,constituted and appointed and by these presents,does make,constitute and appoint CHRISTOPHER L.DOBBS,JALENE BROWN,TRACY.L.-CARLILE,KIM RICHARDS,DIANE HUNTER,SABRINA BARBERits true and lawful Attorneys)-in-fact,at MT.JULIET in the State of TN and each of tem to nave full power to act without the other or others,to mift execute and deliver on its behalf,as surely or 0-surety;lJori Sand undertakings given for any and all purposes, also to execute and deliver on IS behalf as aforesaid renewals,exlensiorls,agreements,waivers,consents or stipulations reladng to such bands or undertakings prnvPdod,however,that no single bond o undertaking so made,executed and delivered shall obligate the Corporation for any portion of the penal sum thereof in excess of the sum of TEN MILLION Dollars $10,000000): Such tie ds and undeilakings for said purposes,when duly executed by said attorney(s)-in-fact,shall be binding upon the Corporation as fully and to the same extent as if signed by -,. the President of the Corrporation under its corporate seal attested by its Corporate Secretary. This appointment ism o&.unAr and by authority of certain resolutions adopted by the Board of Directors of the Corporation by unanimous written consent on the9lh of January,2014, a copy of which;appears below under the heading entitled"Certificate". This Power of Atiorney is sig and sealed by facsimile under and by authority of the fallowing resolution adopted by the Board of Directors of the Corporation by unanimous written consent on January 4,2014'.and said resolution has not since been revoked,amended or repealed: RESOLVED,that in granting powers of attorney pursuant to certain resolutions adopted by the Board of Directors of the Corporation by unanimous written consent on January9,2014, the signature of such directors and officers and the seal of the Corporation may be affixed to any such power of attorney or any certificate relating thereto by facsimile and any such power of allomey or certificate bearing such facsimile signature or seal shall be valid and binding upon the Corporation in the future with respect to any bond or undertaking to which it is attached. IN WITNESS WHEREOF,the Corpomfon has caused these presents to be duly signed and its corporate seal to be hereunto affixed and attested this 1 st day of November,2017 at Purchase,New York. (Corporate Seal) ENDURANCE ASSURANCE CORPORATION ATTEST 1 . �� By � a-xd!t�Yl MARIANNE L.WILBERT,SENIOR VICE PRESIDENT SHARON L.SIMS,SENIOR VICE PRESIDENT STATE OF NEW YORK ss:PURCHASE COUNTY OF WESTCHESTER On the 1st day of November,2017 before me personally came SHARON L.SIMS,SENIOR VICE PRESIDENT to me known,who being by me duly sworn,did depose and say that (s)he resides in SCOTCH PLAINS,NEW JERSEY that(s)he is a SENIOR VICE PRESIDENT of ENDURANCE ASSURANCE CORPORATION,the Corporation described in and which executed the above instrument that(s)he knows the seal of said Corporation;that the seal affixed to said instrument is such corporate seal;that it was so affixed by order of the Board of Directors of said Corporation,and that(s)he signed his(her)name thereto by like order. (Notarial Seal) , ,_ :=='} - �• t^JOif�nt4 NICHOLAS JAMES BENENATI,Notary Public-My Commission Expires 12/07/2019 CERTIFICATE STATE OF NEW YORK ss:PURCHASE COUNTY OF WESTCHESTER I,CHRISTOPHER DONELAN the PRESIDENT of ENDURANCE ASSURANCE CORPORATION,a Delaware Corporation(the"Corporation'),hereby certify: 1. That the original power of attorney of which the foregoing is a copy was duly executed on behalf of the Corporation and has not since been revoked amended or modified;that the undersigned has compared the foregoing copy thereof with the original power of attorney,and that the same is a true and correct copy of the original power of attorney and of the whole thereof; 2. The following are resolutions which were adopted by the Board of Directors of the Corporation by unanimous written consent on January9,2014 and said resolutions have not since been revoked,amended or modified: "RESOLVED,that each of the individuals named below is authorized to make,execute,seal and deliver for and on behalf of the Corporation any and all bonds,undertakings or obligations in surely or oo-surety with others: CHRISTOPHER DONELAN,SHARON L.SIMS,MARIANNE L.WILBERT And be it furter RESOLVED,that each of the individuals named above is authorized to appoint allomeys-in-fact for the purpose of making,executing,sealing and delivering bonds,undertakings or obliges s in surety or co-surety for and on behalf of the Corporation." 3. The undersigned furtherrcertifies that the above resolutions are true and correct copies of the resolutions as so recorded and of the whole[hereof 4)1% 12•fh Jul 18 IN WITNESS;WHEREOF'lihave hereunto set my hand and affixed the corporate seal this day of y 20 . (Corporate Se- i A 1 p.�•S CHRISTOPHER DONELAN,PRESIDENT Any reproductions are void. Primary Surety Claims Submission:suretybondclaims@@sompo4nd.com Surety Claims Hotline:877-676-7575 Mailing Address:Surety Claims Department,Sompo Inlemabonal,1221 Avenue of the Americas,18th Floor,New York,NY 10020 No. 5082-3 STATE OF CALIFORNIA DEPARTMENT OF INSURANCE SAN FRANCISCO Amended Certificate of Authority THIS IS TO CERTIFY that,pursuant to the Insurance Code of the State of California, Endurance Assurance Corporation of Delaware, organized under the laws of Delaware, subject to its Articles of Incorporation or other fundamental organizational documents, is hereby authorized to transact within this State, subject to all provisions of this Certificate, the following classes of insurance: Fire,Marine,Surety,Disability,Plate Class,Liability,Workers'Compensation, Common Carrier Liability,Boiler and Machinery,Burglary,Credit, Sprinkler,Team and Vehicle,Automobile,Aircraft,and Miscellaneous as such classes are now or may hereafter be defined in the Insurance Laws of the State of California. THIS CERTIFICATE is expressly conditioned upon the holder hereof now and hereafter being in full compliance with all, and not in violation of any, of the applicable laws and laxful requirements made under authority of the laws ofthe State of California as long as such laws or requirements are in effect and applicable, and as such laws and requirements now are, or may hereafter be changed or amended. 1N WITNESS WHEREOF, effective as of the 23rd day of August, 2016,1 have hereunto set my hand and caused my official seal to be affixed this 23rd day of August, 2016. Daae Jones Insurance Commissioner By Carol Frair for Joel Laucher Chief Deputy NOTICE: Qualification with the Secretary of State must be accomplished as required by the California Corporations Code promptly after issuance of this Certificate of Authority_Failure to do so will be a violation of Insurance Code section 701 and will be grounds for revoking this Certificate of Authority pursuant to the covenants made in the application therefor and the conditions contained herein. ENDURANCE ASSURANCE CORPORATION Balance Sheet- Statutory Basis December 31, 2017 Assets: Bonds $ 1,017,941,883 Common stocks of subsidiaries 495,159,214 Other invested assets 18,251,701 Cash,cash equivalents,and short-term assets 94,257,682 Receivable for securities 13,105 Total cash and invested assets 1,625,623,585 Agents'balances or uncollected premiums 360,112,421 Reinsurance recoverable on loss and loss adjustment expense payments 9,044,841 Funds held by or deposited with reinsurance companies 15,865,750 Net deferred tax assets 23,360,063 Net deposit assets 13,159,195 Current federal income tax recoverable 6,274,501 Investment income due and accrued 5,094,425 Other admitted assets 480,522 Total admitted assets $ 2,059,015,303 Liabilities: Loss and loss adjustment expenses $ 604,289,380 Reinsurance payable on paid loss and loss adjustment expenses 5,435,818 Unearned premiums 283,094,767 Ceded reinsurance premiums payable 176,734,568 Commissions payable,contingent commissions and other similar items (4,812,114) Amounts withheld or retained by company for account of others 28,904,629 Other expenses payable 24,213,227 Net deposit liability 8,816,664 Payable to parent,subsidiaries and affiliates 8,139,892 Provision for reinsurance 18,098,492 Other liabilities 14,621,770 Total Liabilities 1,167,537,093 Capital and surplus: Special surplus funds-retroactive reinsurance gain 1,286,508 Common capital stock 5,000,000 Gross paid in and contributed surplus 1,214,000,000 Unassigned deficit (328,808,298) Total capital and surplus 891,478,210 Total liabilities and capital and surplus $ 2,059,015,303 I,Stan Osofsky,Treasurer of Endurance Assurance Corporation(the"Company")do hereby certify that to the best of my knowledge and belief, the foregoing is a full and true Statutory Statement of Admitted Assets, Liabilities, Capital and Surplus of the Company as of December 31,2017 prepared in conformity with accounting practices prescribed or permitted by the State of Delaware Department of Insurance.The foregoing statement should not be taken as a complete statement of financial condition of the Company.Such a statement is available upon request at the Company's office located at 4 Manhattanville Road, 3rd floor,Purchase,NY 10577. TVITNE,1-;S, EREOI',I have hereunto set my hand and affixed the seal of the Company. Stan OsofsV Subscribed and sworn to before me this day of f" l G/>✓L, V NICHOLAS JAMES BENENATI NOTARY PUBLIC-STATE OF NEW YORK NO 01BE6333911 1 _ QUALIFIED IN NEW YORK COUNTY MY COMMISSION EXPIRES 12-07-2019