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HomeMy WebLinkAboutT-6165 - Cashier Memo - 3/7/2019 C'{Y°` &a MEMORANDUM Ph PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: March 7, 2019 TO: YOLANDA SMITH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 6165 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING: 1. Performance Bond in the amount of$4,461,000.00 2. Payment Bond in the amount of$2,348,000.00 3. 5% Performance Security a. Certificate of Deposit in the amount of$235,000.00 4. Document preparation fees deposit into 180503 10101 34559 a. Check in the amount of$6,660.00 (JPMorgan Chase Bank N.A. No. 01162593) 5. The Balance on Exhibit B of the Subdivision Agreement a. Check in the amount of$825,811.00 (JPMorgan Chase Bank N.A. No. 01162594) 6. Copy of the Subdivision Agreement identifying itemized applicable charges. If you have any questions, please contact me at 621-8684. Thank you, Jonathan artel City of CISCAM&I-\I/- MEMORANDUM rnG� l:g PUBLIC WORKS DEPARTMENT - LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: February 28, 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. 6165 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: $4,461,000.00 2. Payment Bond in the amount of: $2,348,000.00 Thank you, RISK MANAGEMENY VISION Approved Jonatha Bartel A roved W angel Li RECLIVEL7 Date , a r Vf d �r ?,ran Or FRESryQ Heirloom-SewerANater,Street,Concrete,Utilities,Landscape Bond NO.: K15758120 Premium: $12,714.00/annum SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Lennar Homes of California, Inc. ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 6165 is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and Westchester Fire Insurance Company as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of Four million four hundred sixty one thousand and 00/100 dollars ($ 4,461,000.00 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 February 15 2019 Lennar Ho es of California, Inc., Principal: a Calif r corporat'911-2 By. A - (Pr' al) r y: WestL es re Insu ce Company By, (Suret M ua, Attorney-in-Fact KNOWLEDGMENT 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 February 20, 2019 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. '�"" CHRIS7INE COLLINS Commission #2131344 aae Notary Public -California z a Fresno County ' My Comm. Expires Nov 7, 2019 Signature (Seal) - 1 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California ) County of Orange ) On FF.15 2019 before me, Kathy R. Mair, Notary Public DATE [Name of Notary Public and Title"Notary Public"] personally appeared My Hua - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - [Name(s)of Signer(s)] who proved to me on the basis of satisfactory evidence to be the person(s}whose name(s} is/aye subscribed to the within instrument and acknowledged to me that he/she/they executed the same in h+s/her/them authorized capacity(ieo, and that by h+s/her/them signature(o on the instrument the person(s}, or the entity upon behalf of which the persons} acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. KATHY R.MAIR NotaryPublic-California • 7` orange County Commission 2193966 My Comm.Expires May 22,2021 P��VQ l (] f Sig ature 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: 1 Document Date: Number of Pages. Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: My Hua Signer's Name: ❑ Corporate Officer—Titfe(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: CHUBS° Power of Attorney Westchester Fire Insurance Company I ACE American Insurance Company Know All by These Presents, that WESTCHESTER FIRE INSURANCE COMPANY and ACE AMERICAN INSURANCE COMPANY corporations of the Commonwealth of Pennsylvania,do each hereby constitute and appoint My Hua, Mechelle Larkin and Kathy R. Mair of Irvine, California; Tenzer V. Cunningham, Kari Davis, Martha Gonzales,Joaquin Perez and Brenda Wong of Los Angeles,California--------------------------------------------------------------------------------------------- each as their true and lawful Attorney-in-Fact to execute under such designation in their names and to affix their corporate seals to and deliver for and on their behalf as surety thereon or otherwise,bonds and undertakings and other writings obligatory in the nature thereof(other than bail bonds)given or executed in the course of business,and any instruments amending or altering the same,and consents to the modification or alteration of any instrument referred to in said bonds or obligations. In Witness Whereof,WESTCHESTER FIRE INSURANCE COMPANY and ACE AMERICAN INSURANCE COMPANY have each executed and attested these presents and affixed their corporate seals on this 101 day of AAungust,�2018. C)W-L�'M. lkw,n ,%I S(cpheil V ILmey.Vice 11ri~ident �peerp u ik a� f• 8�'f�^i � SE.f4ryln. v� STATE OF NEW JERSEY County of Hunterdon ss On this 101s day of August,2018,before me,a Notary Public of New Jersey,personally came Dawn M.Chloros,to me known to be Assistant Secretary of WESTCHESTER FIRE INSURANCE COMPANY and ACE AMERICAN INSURANCE COMPANY, the companies which executed the foregoing Power Of Attorney,and the said Dawn M.Chloros,being by me duly sworn,did depose and say that she is Assistant Secretary of WESTCHESTER FIRE INSURANCE COMPANY and ACE AMERICAN INSURANCE COMPANY and knows the corporate seals thereof,that the seals affixed to the foregoing Power of Attorney are such corporate seals and were thereto affixed by authority of said Companies;and that she signed said Power of Attorney as Assistant Secretary of said Companies by like authority;and that she is acquainted With Stephen M.Haney,and knows him to be Vice President of said Companies;and that the signature of Stephen M.Haney,subscribed to said Power of Attorney is in the genuine handwriting of Stephen M.Haney,anq was thereto subscribed by authority of said Companies and in deponent's presence. Notarial Seal a— CERTIFICATION KATHERINE J.ADELAAR NOTARY PUBLIC OF NEW JERSEYNo,2318ml; Commission E%puas July 10,2019 Resolutions adopted by the Boards of Directors of WESTCHESTER FIRE INSURANCE COMPANY on December 11.2006;ACE AMERICAN INSURANCE COMPANY on March 20, 2009: "RESOLVED,that the following authorizations relate to the execution,for and on behalf of the Company,of bonds,undertakings,recognWnces,contracts and otherwritten commitments ofthe Company entered into in the ordinary course orbusiness(each a"Written Commitment"): (1) Each of the Chairman,the President and the Vice Presidents of the Company is hereby authorized to execute any Written Commitment for and on behalf orthe Company,under the seal ofthe Company or otherwise. (2) Each duly appointed attomey-in-fact of the Company is hereby authorized to execute any Written Commitment for and on behalf of the Company,under the seal of the Company or otherwise,to the extent that such action is authorized by the grant of powers provided for In such person's written appointment as such attorney-in-fact. (3) Each of the Chairman,the President and the Vice Presidents of the Company is hereby authorized,for and on behalf of the Company,to appoint in writing any person the attorney- in-fact of the Company with full power and authority to execute,for and on behalf of the Company,under the seal of the Company or otherwise,such Written Commitments ofthe Company as may be specified in such written appointment,which specification may be by general type or class of Written Commitments or by specification of one or more particular Written Commitments. (4) Each of the Chairman,the President and the Vice Presidents of the Company is hereby authorized,for and on behalf of the Company,to delegate in writing to any other officer ofthe Company the authority to execute,for and on behalf of the Company, under the Company's seal or otherwise, such Written Commitments ofthe Company as are specified in such written delegation,which specification may be by general type or class of Written Commitments or by specification of one or more particular Written Commitments. (5) The signature of any officer or other person executing any Written Commitment or appointment or delegation pursuant to this Resolution,and the seal ofthe Company,may be allured by facsimile on such Written Commitment or written appointment or delegation. FURTHER RESOLVED, that the foregoing Resolution shall not be deemed to be an exclusive statement ofthe powers and authority of officers,employees and other persons to act for and on behalf of the Company,and such Resolution shall not limit or otherwise affect the exercise of any such power or authority otherwise validly granted or vested." I,Dawn M.Chloros,Assistant Secretary of WESTCHESTER FIRE INSURANCE COMPANY and ACE AMERICAN INSURANCE COMPANY(the"Companies")do hereby certify that (i) the foregoing Resolutions adopted by the Board of Directors of the Companies are true,correct and in full force and effect, (ii) the foregoing Power of Attorney is true,correct and in full force and effect. Given under my hand and seals of said Companies at Whitehouse Station,M.this F E B 1 2019 pNea r� ry 1yy I tc3,ca+ a,.+r' I11v;u 11 Chl�x;ts.,lcNslantSucrel:uy IN THE EVENT YOU WISH TO VERIFY THE AUTHENTICITY OF THIS BOND OR NOTIFY US OF ANY OTHER MATTER,PLEASE CONTACT US AT: 'rele hone(908)903.3493 Fax(NOR)903.3656 e-mail:sttr!H chubbxwn WFIC-AAIC(rev,08-18) Heirloom-SewerANater,Street,Concrete,Utilities, Landscape Bond No... K15758120 Premium included in Performance Bond 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. 6165 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 Westchester Fire Insurance Company as corporate surety, are held firmly bound unto the City and all contractors, subcontractors, laborers, material men, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum of Two million three hundred forty eight thousand and 00/100 dollars ($ 2,348,000.00 ) 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 February 15 20 19 Le r Homes of rnia, Inc., Princip I{ lif riia ora n ay (P ' 'pal rety: stch Flre rance Company By: �� rety) My Hua, Attorney-in-Fact KNOWLEDGMENT 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 February 20, 2019 before me, Christine Collins. Notary Public (insert name and title of the officer) personally appeared Darrvl S. Denius , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. CHRISTINE COLLINS Commission#2131344 Notary Public•California z z ° Fresno County y Signature (Seal) Comm. Expires Nov T,2019 J CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California ) County of Orange ) On FEB 15 2019 before me, KathyR_. Mair,_Notary Public_ DATE [Name of Notary Public and Title"Notary Public"] personally appeared MyHua - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - , [Name(s)of Signer(s)] who proved to me on the basis of satisfactory evidence to be the persons) whose name(-s} is/a-re subscribed to the within instrument and acknowledged to me that Jae/she/they executed the same in #pis/her/th& authorized capacitykka-0, and that by J#&/her/th& signatures} 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. KATHY R.MAIR NotaryPublic-California Orange County yf Commission# May 22, My Comm.Expires May 22 2021 Signature❑ Notary Public Place Notary Seal Above ---------------------------------------------- OPTIONAL --------------------------------------------- Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: My Hua Signer's Name: ❑ Corporate Officer—Title(s): ❑ Corporate Officer—Titie(s): ❑ Partner— ❑ Limited ❑ General ❑ Partner— ❑ Limited ❑ General ❑ Individual ® Attorney-in-Fact ❑ Individual ❑ Attorney-in-Fact ❑ Trustee ❑ Guardian or Conservator ❑ Trustee ❑ Guardian or Conservator ❑ Other: n Other: Signer Is Representing: Signer is Representing: CHUBB° Power of Attorney Westchester Fire Insurance Company I ACE American Insurance Company Know All by These Presents, that WESTCHESTER FIRE INSURANCE COMPANY and ACE AMERICAN INSURANCE COMPANY corporations of the Commonwealth of Pennsylvania,do each hereby constitute and appoint My Hua, Mechelle Larkin and Kathy R. Mair of Irvine, California;Tenzer V. Cunningham, Kari Davis, Martha Gonzales,Joaquin Perez and Brenda Wong of Los Angeles,California---------•-------- each as their true and lawful Attorney-in-Fact to execute under such designation in their names and to affix their corporate seals to and deliver for and on their behalf as surety thereon or otherwise,bonds and undertakings and other writings obligatory in the nature thereof(other than bail bonds)given or executed in the course of business,and any instruments amending or altering the same,and consents to the modification or alteration of any instrument referred to in said bonds or obligations. In Witness Whereof,WESTCHESTER FIRE INSURANCE COMPANY and ACE AMERICAN INSURANCE COMPANY have each executed and attested these presents and affixed their corporate seals on this 10"day of August,2018. Rn%n itephcn.AI I Iancy Vice I'residcnl STATE OF NEW JERSEY County of Hunterdon ss On this 1011 day of August,2018,before me,a Notary Public of New Jersey,personally came Dawn M.Chloros,to me known to be Assistant Secretary of WESTCHESTER FIRE INSURANCE COMPANY and ACE AMERICAN INSURANCE COMPANY, the companies which executed the foregoing Power of Attorney,and the said Dawn M.Chloros,being by me duly sworn,did depose and say that she is Assistant Secretary of WESTCHESTER FIRE INSURANCE COMPANY and ACE AMERICAN INSURANCE COMPANY and knows the corporate seals thereof,that the seals affixed to the foregoing Power of Attorney are such corporate seals and were thereto affixed by authority of said Companies;and that she signed said Power of Attorney as Assistant Secretary of said Companies by like authority;and that she is acquainted with Stephen M.Haney,and knows him to be Vice President of said Companies;and that the signature of Stephen M.Haney,subscribed to said Power of Attorney is in the genuine handwriting of Stephen M Haney,and was thereto subscribed by authority of said Companies and in deponent's presence. Notarial Seal .�a KATHERINE J.ADELAAR R6rAq Y NOTARY PUBLIC OF NEW JERSEY No,2318665 AflBLfl Commisslon ExpIrst July 16,2019 Notary Public N CERTIFICATION Resolutions adopted by the Boards of Directors of WESTCHESTER FIRE INSURANCE COMPANY on December 11,2006;ACE AMERICAN INSURANCE COMPANY on March 20, 2009: "RESOLVED,that the following authorizations relate to the execution,for and on behalf of the Company,of bonds,undertaldngs,recognizances,contracts and other written commitments of the Company entered into in the ordinary course of business(each a"Written Commitment"): (1) Each of the Chairman,the President and the Vice Presidents of the Company is hereby authorized to execute any Written Commitment for and on behalfofthe Company,under the seal of the Company or otherwise- (2) Each duly appointed attomey-in-fact of the Company is hereby authorized to execute any Written Commitment for and on behalf of the Company,under the seal of the Company or otherwise,to the extent that such action is authorized by the grant of powers provided for in such person's written appointment as such attorney-in-fact (3) Each of the Chairman,the President and the Vice Presidents of the Company is hereby authorized,for and on behalf of the Company,to appoint in writing any person the attorney- in-fact of the Company with full power and authority to execute,for and on behalf of the Company,under the seal of the Company or otherwise,such Written Commitments of the Company as may be specified in such written appointment,which specification may be by general type or class of Written Commitments or by specification of one or more particular Written Commitments. (4) Each of the Chairman,the President and the Vice Presidents of the Company is hereby authorized,for and on behalf of the Company,to delegate in writing to any other officer of the Company the authority to execute,for and on behalf of the Company, under the Company's seal or otherwise,such Written Commitments of the Company as are specified in such written delegation,which specification may be by general type or class of Written Commitments or by specification of one or more particular Written Commitments. (5) The signature of any officer or other person executing any Written Commitment or appointment or delegation pursuant to this Resolution,and the seal of the Company,may be affixed by facsimile on such Written Commitment or written appointment or delegation. FURTHER RESOLVED, that the foregoing Resolution shall not be deemed to be an exclusive statement of the powers and authority of officers,employees and other persons to act For and on behalfof the Company,and such Resolution shall not limit or otherwise affect the exercise of any such power or authority otherwise validly granted or vested" I,Dawn M.Chloros,Assistant Secretary of WESTCHESTER FIRE INSURANCE COMPANY and ACE AMERICAN INSURANCE COMPANY(the"Companies")do hereby certify that (i) the foregoing Resolutions adopted by the Board of Directors of the Companies are true,correct and in full force and effect, (ii) the foregoing Power of Attorney is true,correct and in full force and effect, Given under my hand and seals of said Companies at Whitehouse Station,NJ,this FEB D 15 2919 .weet� o'a iiic�. f C D } Dawn AI l:hlnnx;.Avsistan[Scrrctxuyt IN THE EVENT YOU WISH TO VERIFY THE AtM[ENI'tCtTY OFTH1S BOND OR NOTIFY US OF ANY OTHER MATTER,PLEASE CONTACT US AT: Tole 1larte 948}9113-3-tS3 Fax 9p 903-36% e-mail:sureiyorhubb.com WFIC-AAIC(rev 08-18) 3/6/2019 Westchester Fire Insurance Company-Company Profile-Best's Credit Rating Center Westchester Fire Insurance Company A.M. Best#: 003368 NAIC#: 10030 FEIN#:920040526 Mailing Address View Additional Address Financial S&angth Rating P.O. Box 1000 Information Philadelphia, PA 19106 ICES United States A++ Supe cw Assigned to insurance Web: www.chubb.com companies that have, in our Phone: 215-640-1000 opinion, a superior ability to meet their ongoing insurance obligations. View additional news, reports and products for this company, Based on A.M. Best's analysis, 058303 - Chubb Limited 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++ (Superior) Affiliation Code: g (Group) Financial Size Category: XV ($2 Billion or greater) Outlook: Stable Action: Affirmed Effective Date: December 13, 2018 Initial Rating Date: June 30, 1973 Long-Term Issuer Credit Rating View Definition Long-Term. aa+ Outlook: Stable http://ratings.ambest.com/SearchResuIts.aspx?AltSrc=9 1/4 3/6/2019 Westchester Fire Insurance Company-Company Profile-Best's Credit Rating Center Effective Date Rating 12/13/2018 aa+ 10/5/2017 aa+ 6/22/2016 aa+ 7/2/2015 aa+ u 4/30/2015 aa+ 4/11/2014 aa+ 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: 12/13/2018 (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 Dec 13,2018 AM Best Affirms Credit Ratings of Chubb Limited and Its Subsidiaries Oct 05,2017 A.M. Best Affirms Credit Ratings of Chubb Limited and Its Subsidiaries Jun 22,2016 A.M. Best Removes From Under Review and Affirms Ratings of Chubb Limited and Most of Its Subsidiaries Jul 02,2015 A.M. Best Places Ratings of ACE Limited and Its Subsidiaries Under Review With Negative Implications Apr 30,2015 A.M. Best Affirms Ratings for Subsidiaries of ACE Limited Apr 11,2014 A.M. Best Upgrades Ratings for Most Subsidiaries of ACE Limited Jun 14,2013 A.M. Best Revises Outlook to Positive for ACE Limited and Most of Its Subsidiaries Jun 12,2012 A.M. Best Affirms Ratings of ACE Limited and Its North America Property and Casualty Affiliates Jun 21,2011 A.M. Best Upgrades Issuer Credit Ratings of ACE Limited and Its Subsidiaries Feb 11,2011 A.M. Best Responds to Legal Entity Merger of Westchester Fire Insurance Company and ACE Indemnity Insurance Company 1 2 Page size: 10 13 items in 2 pages Find a Best's Credit Rating Enter a Company Name http://ratings.ambest.com/SearchResuIts.aspx?AltSrc=9 3/4 3/6/2019 Company Profile DEPARTMENT OF RA COMPANY PROFILE Company Profile Company Search Company Information Company Information WESTCHESTER FIRE INSURANCE COMPANY Old Company 436 WALNUT STREET Names PHILADELPHIA, PA 19106 Agent for Service 800-352-4462 Reference Information Old Company Names Effective Date NAIC Group List Lines of Business ACE INDEMNITY INSURANCE COMPANY 01/01/2011 Workers' ALASKA PACIFIC ASSURANCE COMPANY 03/06/1996 Compensation CIGNA INDEMNITY INSURANCE COMPANY 11/01/1999 Complaint and Request for Agent For Service Action/Appeals Contact Information Vivian Imperial Financial Statements 818 WEST SEVENTH STREET PDF's SUITE 930 LOS ANGELES CA 90017 Annual Statements Quarterly Reference Information Statements Company Complaint Company NAIC #: 10030 Performance & California Company ID #: 2190-7 Comparison Data Company Date Authorized in California: 03/26/1975 Enforcement Action Composite License Status: UNLIMITED-NORMAL Complaints Studies Additional Info Company Type- Property&Casualty Find A Company State of Domicile: PENNSYLVANIA Representative In 11 Your Area View Financial back to top Disclaimer NAIC Group List NAIC Group #: 0626 Chubb Ltd 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 FIRE LIABILITY MARINE https://interactive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfile&doFunction=getCompanyProfile&eid=5928 1/2 W AUTOMATICALLY RENEWABLE C CALIFORNIAiBANK V 1'¢usr TRUST LL Irvine Irvine Center 02/19119 }- Y ISSUED AT OFFICE DATE W (CITY OR TOWN) (STATE) w � Lennar Fresno Inc. FSO City of Fresno********** 79 084 50********** p (CUSTOMER NAME) (CUSTOMER NUMBER) } I-- Two Hundred _Thirty—Five Thous an and No11 00********DOLLARS $ 215,000.06 c C) j HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK & TRUST PAYABLE TO OR ORDER UPON MATURITY Q AS HEREINAFTER SPECIFIED AND UPON PRESENTATI U ER OF IS CERTIFICRT .PROPERLY ENDORSED,AT THE ABOVE OFFICE. f f! ~ THE MATURITY OF THIS CERTIFICATE WILL BE � �� �� AFTER DATE,AND SUCH MATURITYWILL BEAUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS Iw O UNLESS:(A)AT LEASTTEN DAYS PRIORTO SUCH ORIGI-MoA ANYEXTEHDEO MATURITY,THIS BANK HAS SENTWRITTEN NOTICE TO THE PAYEE OR OTHER HOLDERTHEN DESIGNATED ON ITS Z 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 MATURITY DATE,THIS CERTIFICATE IS PRESENTED AND SURRENDERED FO AY T. SAID DEPOSIT BEARS SIMPLE INTEREST AT THE RATE OF ► Y6 PER ANNUM FROM DATE HEREOF UNTIL ULTIMATE MATURITY,AS ABOVE PROVIDED,AND SUCH INTEREST WILL 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 NECESSARYTO 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 I10 Chicago,IL 01162593 70-2322 { Fresno, CA 93711 Void if over 180 days 719 DATE AMOUNT FAY L 02/15/19 S*****6,666.00 I SIX THOUSAND SIX HUNDRED SIXTY SIX AND 00/100 ************************************** DOLLARS TO THE City of Fresno-Development Authori.,A Signatory ORDER 2600 Fresno St OF Fresno CA 93721 Authorized Signatory Two Signatures Required on Amounts Over$100,000.00 BACKGROUND-ANY OTHER COLORS MAY BE EVIDENCE OF CHEMICAL ALTERATION OR ERASURE-SEE REVERSE SIDE FOR MORE SAFETY FEATURES II.0 1 L6 259P6 1:07 L9 23 2 26i: 886 29333 11I• Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 8080 N. Palm, Suite I10 Chicago,IL 01162594 10-2322 Fresno, CA 93711 Void if over 180 days 719 DATA AMOUNT PAY 02/15/19 $***825,811.00 EIGHT HUNDRED TWENTY FIVE THOUSAND EIGHT HUNDRED ELEVEN AND 00/100 DOLL4 5 TO City of Fresno-Develo Development THE p to xcs Signets ORDER 2600 Fresno St QF Fresno CA 93721 _ Authorized Signatory Two Signatures Required on Amoums over S100.000.00 c- •r U N 11-A NY 07 HE A COL ORS MAY BE EVI r e N OR FOR PAORE 1110LL625941I• 1:07L9232261: 886 29 3 3 3 1ir C B CALIFORNIA BANK TRVy1' TRUST TIME CERTIFICATE DEPOSIT CONFIRMATION & AGREEMENT Account Title: LENNAR FRESNO INC Account Number:5791084550 Issue Date: 02/19/2019 Deposit Amount: $235,000.00 Deposit Term: 24 Months Interest Rate: 0.450 Annual Percentage Yield: 0.450 Maturity Date:02/19/2021 Interest Frequency: ❑At Maturity ❑Annually ❑Quarterly El Monthly Interest Payment Method:Q Add On ❑Issue Check ❑Transfer to Account Number: California Bank&Trust,a division of Zions Bancorportion,N.A.Member FDIC j j(+�] C: CAMFORNIA BANK Certificate of De ❑Sit CQ1 TRUST For important terms governing your account,please seethe 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 10/01/2018. Account 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 maturlty 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. CD Withdrawals(section continued on reverse side) rlar'yWithdrawal Penalties Early withdrawal/closure penalties may be assessed when principal is withdrawn from a CD prior to the maturity date. ty 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. ©California Bank&Trust,A division of Zions Bancorporation,N.A.Member FDIC. Revised October 2018 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. 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 consumer and you request Judicial Reference.See your Deposit Account Agreement for more information. i 3 ©California Bank&Trust,A division of Zions Bancorporation,N.A.Member FDIC. Revised October 2018