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HomeMy WebLinkAboutT-6090 - Cashier Memo - 4/20/2017 c'tv°` MEMORANDUM PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: April 20, 2017 TO: YOLANDA SMITH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 6090 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING 1. Performance Bond in the amount of$1,141,000.00 2. Payment Bond in the amount of$600,500.00 3. Certificate of Deposit in the amount of$60,000.00 (California Bank &Trust) a. 5% Performance Security 4. Check in the amount of$105,513.80 (California Bank&Trust No. 22-00083067) a. The balance is identified on Exhibit B of the Subdivision Agreement. 5. Copy of the Subdivision Agreement identifying itemized applicable charges. If you have any questions, please contact me at 621-8684. Thank you, ;�— Jonathan Bartel City of MEMORANDUM CISCL'►1•���I!� rn��:: �■ PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: April 18, 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. 6090 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: $1,141,000.00 2. Payment Bond in the amount of: $600,500.00 If you have any questions, please contact me at 621-8684- Thank you, Jonathan Bartel RECEIVED RISK AN�lHEN9ENT CIIV ON Approved APR 18 M7 A raved w/C NIBS U pCIT OF FkESNo �rl Ver nrvices Depa �rnant {g ed Band 144.:705219S Premium: $5,705 SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of"Fresno,State of Califomia, and. GVM Deveiooment, LLC, a Calh;r Limited Liability Company ("principal`)will be entering into an agreer'nentwhateby prinalpa l agrees to install and complete certain designated public improvements,which said agreement, Identified as Subdivision Agreement for the f=inal Map at'Tract No. 6090 is hereby referred to and made a part hereof;and Whereas,principal is required under the terms of said agreement to famish a bond for the faithful performance of said agreement. Now,therefore,we,the principal end2evebners Surety and Indemnity.Company . . as surety, are held and firmly bound unto the City of Fresno{"City"),In the penal sum of One Million, arta Hundred Forty One Thousand and 0011007 dollars ($1,141,000.00 ] lawful-money of the United States,for the payment of which sum wail and truly to be made,_we bind ourselves,our heirs,sucewsorso executors and adminlstrators,{aintty and severally,firmly by these presents. The condition of this obligation is such that if the gbove bounded principal,his or Its heirs,executors,administrators,successors or assigns,shall in all things stared 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 ffine and in the manner therein specified, and In an 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 vold;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;lhere shall be Included costs and reasonable-expenses and fees,inckudirng reasonable.attorney's fees,Inouorred by City in suocessfully enforcing such obilgatidn, an to be taxed as costs and included in any Judgment rendered. The surety hereby stipufates 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 shalt in anywise affect Its obligations on this bond,and it does hereby waive notice of any such change, extension of tune,alteration or addition to the-terms of the agreement or to the work or to the specifications. In witneas whereof,this instrument has been duly executed by the principal arad_surety above named,on April 11 2017 Principal: Limited Liability Company By: (Principal) Surety:Developers Surety and in_d_emnity Company {St"tY}Donna M.Smith,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 _ April 12, 2017 before me, Madelyn Cuellar, Notary Public (insert name and title of the officer) personally appeared Darius Assemi who proved to me on the basis of satisfactory evidence to be the personE&)whose name(&) is/are subscribed to the within instrument and acknowledged to me that he/sha4o executed the same in his/herlth&authorized capacity(ies), and that by his/her/tbeir signature(&) on the instrument the person(-s), 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. ZDELYN CUELLAR 17 WITNESS my hand and official seal. s CommissionyPuPublic #- 030Z Noh►y Publlc-CaliforniaCnl Fresno County Comm.Ex fres Mar 1 Signature _ ��� (Seal) My 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 truth fcslness, accuracy, or validity of that document. State of CALIFORNIA County of FRESNO On April 11,2017 before me,KIMBERLY WILSON,NOTARY PUBLIC,personally appeared Donna M. Smith, proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s)acted,executed the instrument. I certify under the PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. KIMBERLY WILSON W WITNESS my hand and official seal. Commission#F 2062659 %'_Tt Notary Public-California Fresno County y 1 r.1%,Comm Fxrlres Apr i. 20 l Si tore 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-[CW 24(7/00) POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO Box 19725,IRVINE,CA 92623 (949)263-3300 KNOW ALL BY THESE PRESENTS that except as expressly limited,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,do each hereby make,constitute and appoint: ***Kyle Wilson, Donna M Smith, Kimberly Wilson, Nicole Caskey,Wayne Lamb,jointly or severally*** as their true and lawful Attorney(s)-in-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 Attomey(s)-in-Fact full power and authority to do and to perform every act necessary,requisite or proper to be done in connection therewith as each of said corporations could do,but reserving to each of said corporations full power of substitution and revocation,and all of the acts of said Attorney(s)-in-Fact,pursuant to these presents,are hereby ratified and confirmed. This Power of Attorney is granted and is signed by facsimile under and by authority of the following resolutions adopted by the respective Boards of Directors of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,effective as of January 1st,2008. RESOLVED,that a combination of any two of the Chairman of the Board,the President,Executive Vice-President,Senior Vice-President or any Vice President of the corporations be,and that each of them hereby is,authorized to execute this Power of Attorney,qualifying the attorney(s)named in the Power of Attorney to execute,on behalf of the corporations,bonds,undertakings and contracts of suretyship;and that the Secretary or any Assistant Secretary of either of the corporations be,and each of them hereby is,authorized to attest the execution of any such Power of Attorney; RESOLVED,FURTHER,that the signatures of such officers may be affixed to any such Power of Attorney or to any certificate relating thereto by facsimile,and any such Power of Attorney or certificate bearing such facsimile signatures shall be valid and binding upon the corporations when so affixed and in the future with respect to any bond,undertaking or contract of suretyship to which it is attached. IN WITNESS WHEREOF,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA have severally caused these presents to be signed by their respective officers andel attested bytheirrespective Secretary or Assistant Secretary this 6th day of February,2017. Gf�+�'" By: _ �NAND� �},PANYD Daniel Young,Senior Vice-President 'a oriPo'ir'•• pRQoar 9 h:3F y1:- ;G 1936 `ry= -2 Oi9675 b By: 1% .04trfoe*a:'ai�: Mark Lansdon,Vice-President •,�3a' r ,r 'Fd� 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 February 6,2017 before me, Lucille Raymond,Notary Public Date Here Inert Name and Title of th 01fim personally appeared Daniel Young and Mark Lansdon Name(s)of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s)is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacty(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. _ Commission#f 2081945 Notary Public-CalUornis I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is Z Oranpe County true and correct. M Comm.Expires Oct 13.2018 WITNESS my hand and official seal. (Place Notary Seal Above Signature "- , —)4v/ LucillV ond,Notary Public CERTIFICATE The undersigned,as Secretary or Assistant Secretary of DEVELOPERS SURETY AND INDEMNITY COMPANY or INDEMNITY COMPANY OF CALIFORNIA,does hereby certify that the foregoing Power of Attorney remains in full force and has not been revoked and,furthermore,that the provisions of the resolutions of the respective Boards of Directors of said corporations set forth in the Power of Attorney are in force as of the date of this Certificate. +,µiurrrprr, This Certificate is executed in the City of Irvine,California,this 1 1 t h day of April, 2017' �•'�q�Y ANIpANV D �' ���'•s� oa�p Jr A'f' By: �. ` -Y � .� 1936 n z r�oCi 5 Cassia J. sfard,Assistant Se la rY -a= 19 67 2 '.CQL7FDi�' r �r�S�IFpP4 ATS-1002(02/17) Bond No.a705219S Premium: Included SUBDIVISION IMPROVEMENT PAYMENT BOND Whereas, the City Council of the City of Fresno, State of California, and GVM Development, LLC,a California Limited Liability Company ("principal") have entered or will be entering into an agreement whereby the princlpsl sprees to install and complete certain designated public Improvements,which agreement, Identified as Subdivision Agreement for the Final Map of Tract Ido.6480 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 worn, 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 fart 4 of Division 3 of the Civil Code of the State of Calitomla. Now,therefore,the principal and Developers Surety and Indemnity Company ,as corporate surety,are held firmly bound unto the City and all contractors,subcontractors,laborers, material men,and other personas employed in [lie 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 Six Hundrjad_Thous@ngl. n 00 dollars t$ 600,500-00 , for materials furnished or labor thereon of any kind,or for amounts due underthe Unemployment Insurance Act vAth.respectto this worker labor,that the surety wM 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 attomey'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 corporatiorrs entitled to fits claims under Title 15 (commencing with Section 3M)of art 4 of Division 3 o the Civil Code,so as to give a right of action to them or their assigns in any suit brought upon this bored. Should the condition of this bond be fully performed,then this obligalfon shall become. null and void,otherwise it shalt be and remain in full force and effect. The surety hereby stipulates and agrees that no change,extertsion.of time,=aiteration,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 Anril 11 , 20_L7 . Principal: GVM Development, LLC,a California Limited Liability Company By: c al) Sursty0evelaars Surety andIndemnity Company BY: (surety) Donna M. Smith,Attomey-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 April 12, 2017 before me, Madelyn Cuellar, Notary Public (insert name and title of the officer) personally appeared Darius Assemi who proved to me on the basis of satisfactory evidence to be the personm whose name(s) is/af& subscribed to the within instrument and acknowledged to me that he/s4e4hey executed the same in his/her/their authorized capacityties), and that by his/he4thak signature*)on the instrument the person(&), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. MADELYN CUELLAR WITNESS my hand and official seal. Commission#2103017Notary Pubk-Cdttomi, z Z Fresno County My Comm. EM Mr 13.2019 t Signature Y"ad-A (Seal) 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 ol'that document. State of CALIFORNIA County of FRESNO On April 11,2017 before me,KIMBERLY WILSON,NOTARY PUBLIC,personally appeared Donna M. Smith, proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s)acted,executed the instrument. I certify under the PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. KIMBERLY WILSON a Commission# 2062659 WITNESS my hand and official seal. Notary Public-California z Fresno County my Comm. Expires Apr 10,2018 ww Si ature of Notary OPTIONAL Though the data below is not required by law,it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT ❑ INDIVIDUAL ❑ CORPORATE OFFICER ❑ PARTNER(S) ❑ LIMITED ® ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S)OR ENTITY(IES) CA-ICW 24(7/00) POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO Box 19725,IRVINE,CA 92623 (949)263-3300 KNOW ALL BY THESE PRESENTS that except as expressly limited,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,do each hereby make,constitute and appoint: ""Kyle Wilson, Donna M Smith, Kimberly Wilson, Nicole Caskey,Wayne Lamb,jointly or severally' as their true and lawful Attomey(s)-in-Fact,to make,execute,deliver and acknowledge,for and on behalf of said corporations,as sureties,bonds,undertakings and contracts of suretyship giving and granting unto said Attomey(s)-in-Fact full power and authority to do and to perform every act necessary,requisite or proper to be done in connection therewith as each of said corporations could do,but reserving to each of said corporations full power of substitution and revocation,and all of the acts of said Attorney(s)-in-Fact,pursuant to these presents,are hereby ratified and confirmed. This Power of Attorney is granted and is signed by facsimile under and by authority of the following resolutions adopted by the respective Boards of Directors of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,effective as of January 1st,2008. RESOLVED,that a combination of any two of the Chairman of the Board,the President,Executive Vice-President,Senior Vice-President or any Vice President of the corporations be,and that each of them hereby is,authorized to execute this Power of Attorney,qualifying the attorney(s)named in the Power of Attorney to execute,on behalf of the corporations,bonds,undertakings and contracts of suretyship;and that the Secretary or any Assistant Secretary of either of the corporations be,and each of them hereby is,authorized to attest the execution of any such Power of Attorney; RESOLVED,FURTHER,that the signatures of such officers may be affixed to any such Power of Attorney or to any certificate relating thereto by facsimile,and any such Power of Attorney or certificate bearing such facsimile signatures shall be valid and binding upon the corporations when so affixed and in the future with respect to any bond,undertaking or contract of suretyship to which it is attached. IN WITNESS WHEREOF,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA have severally caused these presents to be signed by their respective officers and attested by their respective Secretary or Assistant Secretary this 6th day of February,2017. By: (7i! GZ4VII-V '�Y ANS�N'•. �PAif Y Q Daniel Young,Senior Vice-President o%� � QopfA f - 1936 r w °96,5 �� 0 Y - = a: r `t Mark Lansdon.Vice-President e�,r QFOP 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 February 6,2017 before me, Lucnie RaymonD Notary Pubw Date Here Insert Name and Title of the oRM;ar personally appeared Daniel Young and Mark Lansdon Name(s)of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s)is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies),and that by his/hedtheir signature(s)on the instrument the person(s),or the entity upon behalf of LUCILLE RAYMOND which the person(s)acted,executed the instrument. _ Commisslon 12001945 Notary Public-California ' I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is Z Orange County true and correct. M Comm, E ires ODt 13,201$ WITNESS my hand and official seal. Place Notary Seal Above Signature _ LJ Lucill6 Ray fond,Notary Public L= CERTIFICATE The undersigned,as Secretary or Assistant Secretary of DEVELOPERS SURETY AND INDEMNITY COMPANY or INDEMNITY COMPANY OF CALIFORNIA,does hereby certify that the foregoing Power of Attorney remains in full force and has not been revoked and,furthermore,that the provisions of the resolutions of the respective Boards of Directors of said corporations set forth in the Power of Attorney are in force as of the date of this Certificate. This Certificate is executed in the City of Irvine,California,this 1 1 th day of April 2 01 7 :.• �v ANI)r,)% LO POR PANYp c+ ���. ice: � 2 OCi5 � By: : a 1936 ,06. A 7 Cassie J. rrisford,�Setary rxoA�L ATS 1002(02117) ••..,,,*,,,..�`�� 4/1912017 Company Profile CALIFORNIA DEPARTMENT OF INSURANCE COMPANY PROFILE Company Profile Company Search Company Information Company Information DEVELOPERS SURETY AND INDEMNITY COMPANY Old Company 17771 COWAN STE 100 Names IRVINE, CA 92614 Agent for Service Reference Old Company Names Effective Date Information NAIC Group List Lines of Business Agent For Service Workers' KARISSA LOWRY Compensation 2710 GATEWAY OAKS DRIVE Complaint and SUITE 150N Request for SACRAMENTO CA 95833 Action/Appeals Contact Information Financial Statements Reference Information PDF's Annual Statements NAIC #: 12718 Quarterly California Company ID #: 4606-0 Statements 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 NGH Grp Lines Of Business The company is authorized to transact business within these lines of insurance. For an explanation of any of these terms, please refer to the glossary. AUTOMOBILE BOILER AND MACHINERY BURGLARY FIRE LEGALINSURANCE LIABILITY MARINE MISCELLANEOUS PLATE GLASS SPRINKLER SURETY back to top https:/f nteracbve.web.insurance.ca.gov/companyprofiletcornpanyprofile?event=companyProfile&doFuncbon=getCompanyProfile&eid=100170 1/2 4/19/2017 Company Profile © 2008 California Department of Insurance https:/f nteractive.web.i nsurance.ca.gov/com panyprofi letcom panyprofi le?event=com panyProfi le&doFuncti on=getCompanyProfi le&eid=100170 212 4/19/2017 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center A.M. Best Rating Services Developers Surety and Indemnity Company (?j A.M.Best p:011752 NAIC M 12718 FEIN#:420429710 Mailing Address View Additional Address Information F„�x,r yyr, ,gatnp, P.O.Box 19725 7�r Irvine,CA 92623-9725E;Fsr A Qtcellent United States Assigned to insurance companies that have,in our opinion, an excellent ability to meet their ongoing insurance Web:www.amlruslsureN.com obligations. Phone:949-263-3300 Fax:949-252-1959 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 Yew Definition Rating: A(Excellent) Affiliation Code: r(Reinsured) Financial Size Category: XV($2 Billion or greater) Outlook: Negative Action: Affirmed Effective Date: February 27,2017 Initial Rating Date: January 29,1996 Long-Term Issuer Credit Rating View Definition Long-Term: a Outlook: Negative Action: Affirmed Effective Date: February 27,2017 Initial Rating Date: June 06,2007 u Denotes Under Review Best's Ralina Best's Credit Rating Analyst Rating Issued by:A.M.Best Rating Services,Inc. Director.Jennifer Marshall,CPCU,ARM Senior Director:Michael J.Lagomarsino,CFA,FIRM Disclosure Information View A.M.Best's Rating Disclosure Form A.M.Bei"Revises Oullpriks to tS�gnhvr,.ind Affirms Credit Ratirlps of AmTrust Financial5eryices.Inc,and Its Subsldiaries I February 27,2017 Rating History A.M.Best has provided ratings&analysis on this company since 1996. Financial Strength Rating Effective Date Rating 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 6/17/2013 A- 5/31/2012 A- Long-Term Issuer Credit Rating Effective Date Rating 2/27/2017 o 7/8/2016 a 5/29/2015 a 5/30/2014 a 118/2014 a 9/20/2013 a-u http:/twww3.ambest.com/ratings/enfities/SearchResults.aspx?AltSrc=9 1/2 4/19/2017 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center 6/17/2013 a- 5/31/2012 a- AMB Credit Reports AMB Credit Report -includes Best's Financial Strength Rating and rationale along with comprehensive analytical commentary,detailed business overview and key financial data. I Report Revision Date:4/10/2017(represents the latest significant change). IHistorical Reports are available in AMB Credit Report Archive. View additional news,reports and products for this company. Press Releases Date Title Feb 27,2017 AN,Best Revises Outlopks to Negative and Affirms Credit Rolings of ArffryA Flnanci3J Servings.Inc.acrd Its Sdbsidiaries 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 RatincIs of Sotiricifield 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 Sep 20,2013 A.M.Hest Places Ratings of Developers Surety and Indemnity Company and Indemnity Compziny cif Califl2rnia Under Review May 31,2012 A.M.Best Revises Outlook to Negative for developers Surpf and Indemnity and Its Subsidiary.Indemnity Company of California 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. 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About A.M.Best I Site Map I Customer Service I Member Center I Contact Info I Careers I Terms of Use I Privacy Policy 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://www3.ambest.com/ratings/entities/SearchResults.aspx?AltSrc=9 2/2 W AUTOMATICALLY RENEWABLE Q $ CALIFORNIA BANK U 4'avlcs, TRUST Y ISSUED AT Fresno Main OFFICE Yrasno w CA DATE 4/13/17 Ld = (CITY OR TOWN) (STATE) CVN3 Dry 5790400153 U � (C115TOMER ryAMEI ItiDSTOMER NUMBER, } F_ Sixty Thousand Dollars and no/100 DOLLARS $*60 000 . 0 I- Uj it M HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK & TRUST PAYABLE TO .,city Of Fresno OR ORDER UPON MATURITY Q AS HEREINAFTER SPECIFIEDAND UPON PRESENTATION AND SURRENDER OFTHIS CERTINCAM F80PERLY EN0OPI5EIJ_ATTFIF ABOVE OFFICE ~ THE MATURITY OF THISCERTIFICATE WILL BE AFTER DATE,AND SUCH MATURITY WILL BE AUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS 4 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 Q 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 FOR PAYMENT. SAID DEPOSIT BEARS SIMPLE INTEREST AT THE RATE OF �•Qr .;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 H INSTRUCTIONS OF THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON THE RECORDS OF THIS BANK.THE RATE OF INTEREST IS SUBJECT TO CHANGE BY BANK WITHOUT NOTICE,TO THE EXTENT NECESSARYTO COMPLY WITH ANY LAW OR GOVERNMENTAL REGULATION AFFECTING THE DEPOSIT. AUTHORIZED SIGNATURE OPS-1(05/09) California Bank &Trust Assem! Group, hK 7060 N. Fresno 11-204/1210 1396 W. Herndon Ave., #101 Fresno, CA 93720 Fresno, CA 93711 Date Check Number Apr 20, 2017 22-00083067 Amount Pay *One Hundred Five Thousand Five Hundred Thirteen Dollars 80 Cents* $105,513.80 Assemi Group, Inc To City of Fresno The 2600 Fresno Street Order Fresno, CA 93721-5017 Per Of PAYABLE IN US DOLLARS 11'0008 306 ?li' : L2100201. 21: M 38 13094u' Account Number: 5 7 9 0 4 0 01 5 3 Security Amount: $60,000.00 ASSIGNMENT (Subdivision Agreement) SECURITY FOR: GVM DEVELOPMENT,LLC 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 $60,000.00 number 5790400153 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 6090—GVM Development,LLC-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 121' day of April ,2017 GVM Development,LLC a California Corporation By: Darius Ass mi,Senior Vice sident 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 13 th day of April ,2017 California Bank&Trust, 7060 N.Fresno Street Fresno,CA 93720 Bank Name Branch Location City State Raj Sodhi—Layne VP & Branch Manager By "�;4 , VP Name Title f Officer 1