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HomeMy WebLinkAboutT-6207 - Cashier Memo - 1/10/2019 cty°I MEMORANDUM Cl�CL�iI�\flr� PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: January 10, 2019 TO: YOLANDA SMITH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 6207 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING: 1. Performance Bond in the amount of$245,000.00 2. Payment Bond in the amount of$129,000.00 3. 5% Performance Security a. Certificate of Deposit in the amount of$13,000.00 (California Bank&Trust) 4. Document preparation fees deposit into 180503 10101 34559 a. Check in the amount of$4,478.00 (MUFG Union Bank, N.A. No. 22U-00001726) 5. The Balance on Exhibit B of the Subdivision Agreement a. Check in the amount of$154,834.74 (MUFG Union Bank, N.A. No. 22U-00001702) 6. Copy of the Subdivision Agreement identifying itemized applicable charges. Thank you, , Jonathan Bartel City ofFRESW� MEMORANDUM PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: January 9, 2019 TO: HEIDI BRIGGS Personnel Services Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: REQUEST FOR BOND APPROVAL FOR THE FINAL MAP OF TRACT NO. 6207 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: $245,000.00 2- Payment Bond in the amount of: $129,000.00 Thank you, Jonathan Bartel ,illy w1hVix law aru� tag pp raved wl� ��� L] 1 Date d RECEIVED JAN 0 9 CITY OF FRESNO Fmiel serviees OFFICIAL USE O t ONLY Bond No.: 706878 Premium: $1,225 for initial one year term SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Las Brisas Builders, Inc. ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 6207 is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and Developers Surety and Indemnity Company , as surety, are held and firmly bound unto the City of Fresno ("City"), in the en 1 sum of Two Hundred Forty Five Thousand and C1011�0 dollars ($ 245,000 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 _December 27 , 20 18 Principal: L Brisas Builders, Inc. By. (Principal) Sri Yev1 h �SvCti�� Jc+,�N-Ir Surety: Developers u rety and Indemnity Company By: 1 (Surety All 6n Berry, A orney-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 FRESNO On December 27, 2018 before me, Christine Bagetakos,NOTARY PUBLIC,personally appeared Alison Berry, 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. BAGETAKOS Notary Public WITNESS my hand and official seal. . Notary Fresno County Commission#2200014 My Comm.Expires Jun 3,2021 Signatur6 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(7100) POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO Box 19725,IRVINE,CA92623 (949)263.3300 KNOWALL BY THESE PRESENTS that except as expressty limited,DEVELOPERS SURETYAND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA.do each hereby make,constitute and appoint: "'Donna M Smith,Alison Berry,Molise Resner,jointly or severally' as their we and lawful Adomey(s)tn•Fact,to make,execute,deliver and acknowledge,for and on behalf of said corporations,as sureties,bonds,undertakings and contracts of suretyship giving and granting unto said Altomey(s}irr-Fact full power and authority to do and to perform every ad 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 ads of said Anomey(s)-In-Fad,pursuant to these presents,are hereby ratified and confirmed. This Power of Attomey is granted and is signed by facsimile under and by authority of the following resolutions adopted by the respective Boards of Directors of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,effective as of January 1st,2008. RESOLVED,that a combination of any two of the Chairman of the Board,the President,Executive Vice-President,Senior Vice-President or any Vice President of the corporations be,and that each of them hereby is,authorized to execute this Power ofAdomey,qualifying the adomey(s)named in the Power of Attorney to execute,on behalf of the corporations,bonds,undertakings and contracts of suretyship;and that the Secretary or any Assistant Secretary of either of the corporations be,and each of them hereby is,authorized to attest the execution of any such Power of Attorney; RESOLVED,FURTHER,that the signatures of such officers may be affixed to any such Power of Attorney or to any certificate relating thereto by facsimile,and any such Power of Attorney or certificate bearing such facsimile signatures shall be valid and binding upon the corporations when so affixed and in the future with respect to any bond,undertaking or contract of suretyship to which it is attached. IN WITNESS WHEREOF,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA have severally caused these presents to be signed by their respective officers and attested by their respective Secretary or Assistant Secretary this 4th day of October,2018. By: I _ 'ty,�Dltia.,•• 4MPAHYpc Daniel Young,Senior Vice-President :� ''' e7:i'':*� �C104POR��FC y: �i v AG 1936 = = r OCT.b a a By: ":'%ti�r �:' v o rae> i rr+ • L ,• Mark Lansdon.Vice-President 's �` ' e�, 4w0 w 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. Slate of California County of Orange On 0Vober a,2018 before me, __ LucNe Ravmond,Notary Public Dab Ham(road Nana and Title of tla Off ar personally appeared Daniel Young and Mark Lan sdon N—(s)of Somr(s) who proved to me an the basis of satisfactory evidence to be the person(s)whose name(s)islare subscribed to the within instrument and acknowledged to me that helshelthey executed the same in hislherllheir authorized capaaty(ies),and that by his/her/their signature(s)on the instrument the person(s),or the entity upon behalf of LUCILLE RAYMOND which the person(s)acted,executed the instrument. 6My Notary Pub&-California Orange County I canny under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is Commission M 2258185 true and correct. Comm.Expires Oct 13,2022 WITNESS my hand and official seal. Place Notary Seal Above Signature ��_A Ro?—Vq Luciltoykfono,NotaryPublic CERTIFICATE The undersigned,as Secretary or Assistant Secretary of DEVELOPERS SURETYAND 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 or this Certificate. ..,,uunar• This Certificate is executed in the City of Irvine,California,[his 27th day of December 2018 , ,�y AND 4VPAN Y OPOP By: 1936 = OCT a CassieJ. nisford,Assislant ary 0 ?�.o` o �LIFOP ATS-1002(10118) �''•.,,,,s„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 e3A Q) ) On \AnI Vhi�I -:I- 2bn , before me, Ci , Notary Public, personally appeared , who proved to me on the basis of satisfactory evidence to be the person whose name isMre-subscribed to the within instrument and acknowledged to me that hem executed the same in his/her4fl}eir authorized capacity(jas%and that by his/hen4heir signature on the instillment the person), or the entity upon behalf of which the person(6 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, KATRINA INGRAO `�: Notary Public -California Signature (Seal) z:-es: Fresno County z z r_a Commission#2167877 D My Comm. Expires Oct 14, 2020 Bond No.: 706878 Premium: Included SUBDIVISION IMPROVEMENT PAYMENT BOND Whereas, the City Council of the City of Fresno, State of California, and Las Brisas Builders, 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. 6207 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. N w, therefore the rincip I and Developers Sure y and�ndemnity 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 Hundred Twenty Nine Thousand and 00/100 dollars ($ 129,000 ), 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 December 27 20 18 Principal: as as Builders, Inc. By: (Principal) VL 4.val �vt l►� �(f61�Nt Surety: -Developers-$urety and IndemnityCompany By: - 4111 h�LZ�9: (Surety ❑n Berry, 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 FRESNO On December 27, 2018 before me, Christine Bagetakos,NOTARY PUBLIC, personally appeared Alison Berry, 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. CHRISTINE BAGETAKOS - Notary Public-California WITNESS my hand and official seal. r Fresno County p Commission#2200014 My Comm.Expires Jun 3,2021 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,CA92623 (949)263.3300 KNOW ALL BY THESE PRESENTS that except as expressly limited,DEVELOPERS SURETYAND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,do each hereby make,constitute and appoint: "'Donna M Smith,Alison Berry,Melisa Resner,jointly or severally"' as their we and lawful Atiomey(s)4n•Fact,to make,execute,deliver and acknowledge,for and on behalf of said corporations,as sureties,bonds,undertakings and contracts of suretyship giving and grenting unto said Attomey(s}in-Facl 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 Altomey(s)win-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 let,2008. RESOLVED,that a combination of any two of the Chairman of the Board,the President,Executive Vice-President,Senior Vice-President or any Vice President of the corporations be,and that each of them hereby is,authorized to execute this Power of Adomey,qualifying the etlomey(s)named in the Power of Attorney to execute,on behalf of the corporations.bonds,undertakings and contracts of suretyship;and that the Secretary or any Assistant Secretary of either of the corporations be,and each of them hereby is,authorized to attest the execution of any such Power of Attorney; RESOLVED,FURTHER,that the signatures of such officers may be affixed to any such Power of Attorney or to any certificate relating thereto by facsimile,and any such Power of Attorney or certificate bearing such facsimile signatures shall be valid and binding upon the corporations when so affixed and in the future with respect to any bond,undertaking or contract of suretyship to which it is attached. IN WITNESS WHEREOF,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA have severally caused these presents to be signed by their respective officers and attested by their respective Secretary or Assistant Secretary this 4th day of October,2018. ,,,,P, ByV .'Z{AN...r,1, O�pANYpF Daniel Young,Senior Vice-President =�� 0r'•`�4 ��'pgaURa 06. 1936 ; = OCT.s By. c `4 Mark Lansdon,Vice-President 441Fop�' 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 October 4,2016 before me, Lucille Rgmond.Notary Public Date Nfe wart Nam end roe of nb of6eer personally appeared ._- Darrel Young and Mark Lansdon Nam(s)d S4nhel who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s)islare subscribed to the within instrument and acknowledged to me that helshelthey executed the same in hislherliheir authorized cepacty(es),and that by his/her/their signature(s)on the instrument the person(s),or the entity upon behalf of 90My LUCILLE RAYMOND which the person(s)acted,executed the instrument. Notary Publk-Calfforrtla Oranp County I certify under PENALTY OF PERJURY under the laws of the Stale of California that the foregoing paragraph is Commission/2ZS8185 true and cored Comm.Expires Oct 13,I022 '�"�'•! WITNESS my hand and official seal. Place Notary Seal Above Signature Lumll -4yhiorid.NotaryPublic CERTIFICATE The undersigned,as Secretary or Assists nt Secretary of DEVELOPERS SURETY AND INDEMNITY COMPANY or INDEMNITY COMPANY OF CALIFORNIA.does hereby certify that the foregoing Power of Attorney remains in fug force and has not been revoked and,fudhemlore,that the provisions of the resolutions of the respective Beards 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 Clty 27th of Irvine,California,this day of December ,2018 , ' .c Nvo�ry •, aV,PAN Y pfi t. y: �r i yf� i s; x = OCT.6 0 B a=. 1936 - ,96r ssie J. r lord,AssisIan[Se culafy ATS-1002(lone) 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 � � ) On 2 befor7e, , Notary Public, ers nally appeared , who proved to me on the basis of satisfactory evidence to be the person( whose name is�ubscribed to the within instrument and acknowledged to me that`e/she*te�- executed the same in hislheWtieir authorized capacity, and that by hislheW9asip signature( on the instrument the person $, 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. WITNESS my hand and official seal. KATRINA IN'G a -e: J Notary Public-California 1 z.. _ Fresno County a Signature (Seal) Commission #2167877 My Comm. Expires Oct 14.2020 1/10/2019 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center Developers Surety and Indemnity Company A.M. Best#: 011752 NAIC M 12718 FEIN M 420429710 Mailing Address View Additional Address anmcW sbv,gth Ratng P.O. Box 19725 Information BrC Irvine, CA 92623-9725 i°`- Excellont United States Assigned to insurance companies that have, in our Web: www.amtrustsurety.com opinion, an excellent ability to Phone: 949-263-3300 meet their ongoing insurance Fax: 949-252-1959 obligations. View additional news, reports and products for this company. Based on A.M. Best's analysis, 051002 -AmTrust Financial Services, 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: p (Pooled) Financial Size Category: XV ($2 Billion or greater) Outlook: Stable Action: Downgraded Effective Date: July 03, 2018 Initial Rating Date: January 29, 1996 Long-Term Issuer Credit Rating View Definition Long-Term: a- Outlook: Stable Action: Downgraded http://ratings.am best.com/CompanyProfi le.aspx?ambnum=11752&U RATING ID=2392449&MCToken=774781661904112324810034537014717421189... 1/4 1/10/2019 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center Effective Date: July 03, 2018 Initial Rating Date: June 06, 2007 u Denotes Under Review Best's Rating Best's Credit Rating Analyst Rating Issued by: A.M. Best Rating Services, Inc. Director: Jennifer Marshall, CPCU, ARM Managing Director: Anthony Diodato Disclosure Information Disclosure Information Form View A.M. Best's Rating Disclosure Form Press Release A.M. Best Removes from Under Review, Downgrades Credit Ratings of AmTrust Financial Svcs. and Most Subs.; Assigns Stable Outlook July 03, 2018 Rating History A.M. Best has provided ratings & analysis on this company since 1996. Financial Strength Rating Effective DateRating 7/3/2018 A- 11/6/2017 A u 2/27/2017 A 7/8/2016 A 5/29/2015 A 5/30/2014 A 1/8/2014 A 9/20/2013 A- u Long-Term Issuer Credit Rating 1/10/2019 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center Effective DateRating 7/3/2018 a- 11/6/2017 a u 2/27/2017 a 7/8/2016 a 5/29/2015 a 5/30/2014 a 1/8/2014 a 9/20/2013 a- u Best's Credit Reports !—;Best's Credit Report -Where applicable, includes Best's Financial Strength Rating and rationale along with comprehensive analytical commentary, detailed business overview and key financial data. Report Revision Date: 11/2/2018 (represents the latest significant change). Historical Reports are available in Best's Credit Report Archive. View additional news, reports and products for this company. Press Releases Date Title Jul 03,2018 A.M. Best Removes from Under Review, Downgrades Credit Ratings of AmTrust Financial Svcs. and Most Subs.;Assigns Stable Outlook Nov 06, 2017 A.M. Best Places Credit Ratings of AmTrust Financial Services,Inc.and Subsidiaries Under Review With Negative Implications May 25, 2017 A.M. Best Comments on Credit Ratings of AmTrust Financial Services,Inc.and Subsidiaries Following Common Equity Raise Feb 27, 2017 A.M. Best Revises Outlooks to Negative and Affirms Credit Ratings of AmTrust Financial Services, Inc.and Its Subsidiaries 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. Best Places Ratings of Springfield Insurance Company Under Review With Positive Implications Jan 08, 2014 A.M. Best Upgrades Ratings of Developers Surety and Indemnity Company and Indemnity Company of California C-- nr% 'lni] A A A D....a nl---,. n-a:...... ..L n......�........... C'. ,.a.....-.J r....J a../"................. .....J T...J.........:a../'............... Find a Best's Credit Rating http://ratings.ambest.com/CompanyProfile.aspx?ambnum=11752&U RATINGI D=2392449&MCToken=774781661904112324810034537014717421189. . 3/4 1/10/2019 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center Enter a Company Name Go Advanced Search Haw bD Get a �+ Best's Credit Rating Best's Credit Ratings n Mobile App 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. A.M. Best(EU)Rating Services B.V. 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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 Us I Site Map i Customer Service I My Account I Contact 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©2019 A.M. Best Company, Inc. and/or its affiliates ALL RIGHTS RESERVED. htto://ratlnos.amhPsYnnm/( mmnamiPmfila acnv7omhnnm-117S99_I IDATInIl7ln—nonnnAn ­r __—».—..w _ 1/10/2019 Company Profile DEPARTMENTCALIFORNIA i COMPANY PROFILE Company Profile Company Search Company Information Company Information DEVELOPERS SURETY AND INDEMNITY COMPANY Old Company PO BOX 19725 Names IRVINE, CA 92623-9725 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 15ON Request for SACRAMENTO CA 95833 Action/Appeals Contact Information Financial Statements Reference Information PDF's Annual Statements NAIC #: 12718 Q Statements uarterly California Company ID #: 4606-0 Company Complaint Date Authorized in California: 08/30/1999 Company Performance & License Status: UNLIMITED-NORMAL Comparison Data Company Company Type: Property &Casualty Enforcement Action State of Domicile: CALIFORNIA 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 Financial Sery 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 LEGAL INSURANCE LIABILITY MARINE MISCELLANEOUS https://interactive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfile&doFunction=getCompanyProfile&eid=100170 1/2 LU AUTOMATICALLY RENEWABLE F- C S CALIFORNIA SAND U TRusT TRUST �+ U ISSUED AT _k,�; �;?,=arias Ni;oi TI OFFICE 's"ri o CA DATE _1Z7/201 9 w (CITY OR TOWN) (STATE) wo Las Brisas Builders Inc 5790401003 1 � 0 (CUSTOMER NAME) (CUSTOMER NUMBER) ; ��/ W Thirteen Thousand Dollars and No/1 00 DOLLARS $*1 3, 000 . 00* � BANK&TRUST PAYABLE TO � CALIFORNIACity of Fresno HAS TODAY BEEN DEPOSITED WITH B OR ORDER UPON MATURITY Q (q AS HEREINAFTER SPECIFIED AND UPON PRESENTATION AND SURRENDER OF THIS CERTIFICATE,PROPERLY ENDORSED,AT THE ABOVE OFFICE- aF- THE MATURITY OF THIS CERTIFICATE WILL BE AFTER DATE,AND SUCH MATURITY WILL BE AUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS 0 UNLESS:(A)AT LEAST TEN DAYS PRIOR TO SUCH ORIGINAL OR ANY EXTENDED MATURITY,THIS BANK HAS SENT WRITTEN NOTICE TO THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON ITS RECORDS OF BANK'S ELECTION TO PAY THE DEPOSIT AT SUCH ORIGINAL OR ANY EXTENDED MATURITY,OR (B) UPON OR WITHIN TEN DAYS AFTER SUCH ORIGINAL OR ANY EXTENDED 0 MATURITY DATE,THIS CERTIFICATE IS PRESENTED AND SURRENDERED FOR PAYMENT. SAID DEPOSIT BEARS SIMPLE INTEREST AT THE RATE OF %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 l : 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 MUFG Union Bank, N.A. Assemi Group, Inc 7108 North Fresno Street, Suite 100 16-049/1 220 1396 W. Herndon Ave., #101 Fresno, CA 93720 Fresno, CA 93711 Date Check Number Jan 8, 2019 22U-00001726 Amount Pay *Four Thousand Four Hundred Seventy Eight Dollars 00 Cents $4,478.00 Assemi Group, Inc To City of Fresno The 2600 Fresno Street Order Fresno, CA 93721-5017 Per Of PA BLE iN US DOLLARS II=0000 L7 2611l, 1: L 2 200049D: 349 L00050Sill, ..:hna3,r;:_i .._'�3�Z — �v r) a r � a r e :+•� MUFG Union Bank, N.A. Assemi Group, inc 7108 North Fresno Street, Suite 100 16-049/1220 1396 W. Herndon Ave., #101 Fresno, CA 93720 Fresno, CA 93711 Date Check Number Jan 4, 2019 22U-00001702 Amount Pay *One Hundred Fifty Four Thousand Eight Hundred Thirty Four Dollars* $154,834.74 *74 Cents* Assemi Group, Inc To City of Fresno The 2600 Fresno Street Order Fresno, CA 92721-501 7 Per Of PAYABLE IN US DOLLARS I1@0000 L 70 2114 1: L 2 200049 D: 349 LOOO S0 SO Account Number_,UQ Q4 01 003 Security Amount: $13,000.00 ASSIGNMENT (Subdivision Agreement) SECURITY FOR: Las Brisas Builders,Inc.,a California Corporation 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 $13,000.00 number 5790401003 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 6207—Las Brisas Builders—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 7th day of January,2019 Las Brisas Builders,Inc., a California Corporation By: C—, Kevin Assemi,President 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 9 4, day of January,2019 California Bank&Trust, 7060 N.Fresno Street Fresno,CA 93720 Bank Name Branch Location City State By C'Mk6-�, Name Title f Officer Amanda Shoemake - Customer Service Mgr