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HomeMy WebLinkAboutT-6163 - Cashier Memo - 6/15/2017 City of MEMORANDUM PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: June 15, 2017 TO: YOLANDA SMITH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 6163 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING 1. Performance Bond in the amount of 3,047,000.00 2. Payment Bond in the amount of$1,603,500.00 3. 5% Performance Security a. Certificate of Deposit in the amount of$160,000.00 (California Bank&Trust) 4. Document preparation fees deposit into 180203 10101 34559 a Check in the amount of$7,760.00 (JPMorgan Chase Bank N.A. No. 00842670) 5. The Balance on Exhibit B of the Subdivision Agreement a. Check in the amount of$339,400.60 (JPMorgan Chase Bank N.A. No. 00842671) b. Check in the amount of$44,780.90 (JPMorgan Chase Bank N.A. No. 00867006) 6. The Balance on Addendum of the Subdivision Agreement a. Check in the amount of$21,800.00 (JPMorgan Chase Bank N.A. No. 00857813) b. Check in the amount of$24,000.00 (JPMorgan Chase Bank N.A. No. 00857814) c. Check in the amount of$18,100.00 (JPMorgan Chase Bank N.A. No. 00857815) d. Check in the amount of$31,600.00 (JPMorgan Chase Bank N.A. No. 00857816) e. Check in the amount of$39,700.00 (JPMorgan Chase Bank N.A. No. 00857817) f. Check in the amount of$33,000.00 (JPMorgan Chase Bank N.A. No. 00857818) g. Check in the amount of$61,800.00 (JPMorgan Chase Bank N.A. No. 00867005) 7. Copy of the Subdivision Agreement identifying itemized applicable charges. If you have any questions, please contact me at 621-8684. Thank you, Jonathan`$@rtel City of MEMORANDUM PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: June 13, 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. 6163 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: $3,047,000.00 2 Payment Bond in the amount of: $1,603,500.00 If you have any questions, please contact me at 621-8684. Thank you, Jonathan Bartel RISK MANAGEMENT P0101014 Approved AP oved w/Chan U Sig RECEIVED JUN 13 2017 Bond No.: 931129 (Carriage House IV &V, Lots 1-84) Premium: $11,426.00 per annum SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Lennar Homes of California, Inc. ("principal")will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 6163 is hereby referred to and made a part hereof, and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and.National Union Fire Insurance Company of Pittsburgh, PA , as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of Three Million Forty Seven Thousand and 00/100 dollars ($ 3,047,000.00 ) 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 March 23 , 20 17 Principal:Le Homes of fornia, Inc., a California corporation /By�. CI ) 1 cC -3l� V1� '�lv)t>`,'J N ionp ian Fire Insurance Company of Pittsburgh, PA y. (Surety) Mechelle Larkin, 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 March 24, 2017 before me, Christine Collins, Notary Public (insert name and title of the officer) personally appeared Darryl S. Denius who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. CHRIsTiNE C-0LLINs Commission#2131344 Notary Public -California Fresno CountyMy v Signature (Seal) Comm. Expires Nov 7, 2019 i 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 before me, Kathy R. Mair NotaN Public DATE [Name or Notary Public and Title"Notary Public"] personally appeared Mechelle Larkin - - - - - - - - - [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/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. KATHY R. MAIR WITNESS my hand and official seal. Commission # 2021597 a Notary Public- California z ti Z s Orange County My Comm.Expires May 22,2017 ` I Sign i f otary 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: Mechelle Larkin — Signer's Name ❑ Corporate Officer–Title(s): ❑ Corporate Officer–Title(s) ❑ Partner– ❑ Limited L] General ❑ Partner– ❑ Limited n General [i Individual ® Attorney-in-Fact ❑ Individual U Attorney-in-Fact [-I Trustee ❑ Guardian or Conservator ❑ Trustee ❑ Guardian or Conservator ❑ Other: _ ❑ Other: Signer Is Representing: — Signer is Representing: Bond No.: 931129 (Carriage House IV &V, Lots 1-84) 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. 6163 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 3080 of Part 4 of Division 3 of the Civil Code of the State of California. Now, therefore,the principal and National Union Fire Insurance Company of Pittsburgh, PA , as corporate surety, are held firmly bound unto the City and all contractors, subcontractors, laborers, material men, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum of One Million Six Hundred Three Thousand Five Hundred and 00/100 dollars ($ 1,603,5a0.00�, 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 rig]it ul aallun 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 March 23 20 17 i Princip n Ha of California, Inc., a California corporation /By:_ ' rincipal) Ll y: at' Union Fire Insurance Company of Pittsburgh, PA ( uret:y Mechelle Larkin, 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. J State of California County of Fresno ) On March 24, 2017 before me, Christine Collins Notary Public (insert name and title of the officer) personally appeared Darr I 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 C'OLLINS Commission#2131344 Notary Public -California Fresno County My Comm. Expires Nov 7,2019 Signature (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 of that document. State of California ) County of Oran e ) On MAR 2 3 2017 before me, Kathy R. Mair Nota Public DATE [Name of Notary Public and Title"Notary Public"] personally appeared MechelleLarkin - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - [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/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. .. u KATHY R. MAIR WITNESS my hand and official seal. Commission#2021597 Z •�#� Notary Public -California Orange County My Comm,Expires May 22,2017 .•. -- � /,'�� 1 Sipat E of Notary Public l Place Notary Seal Above -------- ------------------------------------ OPTIONAL --------------------------------------------- Though this section is optional, completing this information can deter alteration of the document or fraitditlPnt 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: _Mechelle Larkin _ Signer's Name: 1 Corporate Officer—Title(s). ❑ Corporate Officer—Title(s): ❑ Partner— ❑ Limited ❑ General ❑ Partner— ❑ Limited ❑ General ❑ Individual ® Attorney-in-Fact ❑ Individual n Attorney-in-Fact ❑ Trustee ❑ Guardian or Conservator ❑ Trustee ❑ Guardian or Conservator ❑ Other: _ ❑ Other: Signer Is Representing: Signer is Representing: .. POWER OF ATTORNEY ... ...... American Horne Assuralare Company Power No. i National Union fire Insurance Company.nf Pittsbtl.rgh,PA. ... . ... .... .... ...... Principal Bond t,)ITtce 175 Water Strfxt.Ncty York,NY 10038. .. No. 05711-3474R.: KNOW ALL,Mi N BY THE SE.PRESENTS: S: ... .. . I'hat:American I Iemc Avsur:uicc Coin a:New York enrporation,and National Uniats.Fire Ihsuranu Con]pa ny of Pittsburgh,VA.,,;t Pennsylvaiila corporarion,dot euclt hcrc:hy appoint --Kathy 1 :Mair,MeclicIle Larkin,Stephnrite H;ii}ft- 01'1Nine,Cal ifikili i .. . ... . . . . Its tttje:and lawful Alto rraey(s) In Fact wlth.full authohty to execute on its behalf bt FldS;:iiriderfakjitgs,ie ogntzances aft otf[er cci{I>xaCts ofiiiderrinit3 and writings:obligriiory ire the mature thereof,_issued In the cours&.&its bwiiiess,aitd to:hind the respective cotnparwAharehy,.... N WiTNESS WHE QF Arieirican.Hwnc Ass.&aiim Company and N tioitaI Uiub.rtl?ire litsrirarr£e CbA3i by�f E ttsli fth,........ A have each eroculcd.. se presents.._ „ :':-Ibis l7th Cowher;1-016 , Ike putaa u • :::..... ::. .:.:..:. .:. ........ )Michael C%l`ay,Vice P{jdent S"I'A'I'E C3h'NEW 1'()Itli C OUNTV[)f NEW YORK }ss. : Can this 17111 day or C?c[uher.2016 beftxe nie cmue the ahnvenanieif aCliccr of Amcrictin l 1pme rlssutruice Coni vty inxl Nuuunal l.imol3.Ftrc p• ILJLiANA HALLEN6ECK - :: liistsraliee Company iN'Piltshtlreh.F?A.,to me ltersgltally kliovrrt to be tltz;:::,.. Nolary NewYork: Individuit1.arid ufricer 0esc rthcd herein,and i)cknowl edged Ihat he ex"oted the roreRoiug inslurnicnt anis afT'ired the scats of said corporalinns.Ilium li'ti. . out{rarity sifltis irffice mIss April 1 0 •:01. 256.:'u My iia t•Onx Co pirbli�ed S County Corti fDt) •es. r S, CERTIF€CA'.f E. ... Fxcrpts of Re ifutions adopted by the 13oards.of I.)irecltrr of Mh ricari Home AssirriCnee Comperiy46d.National Uriidii Fire Insuriince Comp iffy.dfPittsbtzrgh; F':1.on Mav 18. i wifi 14 LSO LY'ED, that•tile t,'hairtn4v{if[he Hotnd,:.tlry Prvside.nt,(Intro) vice Presidcatt:(t,and hcreby:is.atllhnri/u1 tq�oppogg AtloMi' lin=filet w.-e w. and act tior and on bell aIfoft lie Coinpaity to exec lilc bonds,undenakingt.rceogmMriecs and other contracts of indvMity aiid wrltingS 01igatorj.in elle nature iher6f,alld to attack therw Iiw wrpomie seal of thdCanipruiy,in the.lrans..tteifon MIts surety business "RES I_AT1), that the signatures and attestations of swell offieev,and the sc al o!":the Compar}y:niay be..aftud:to art y. Power.ofAttorney or-to any. certificaIC rclatilie dwmto by fa.tisiniiIc.and any stic li Power ni'AitOnieyor eertilicata..be ring'such Ries iinile sighaiiires ur l:Ycskntifc-seal slrgll.be t'alid.iinif binding iipon the Company Gvhen so aftixed with respect to an) bond.uFid eitakuae,recopnirtirrcc and other contract of i11&alf)ity and,vritirig.obIigatory in the mature iliercof. "RF.SOI-VFi7, tial any sit ch.Aftorriey-in-tract delivering.a sccretarial certir.icat ion than the foregoing icsotlninos still he in eff6-,t may imert.in such' certification.the[sale thereof,said date to he not later thaii the dole of dclivei-•thcrQ60))such 4lhunev to l tel" . 1.,Martin 13ngue.,Assistain Sevr4tary 0f•,htnerican Bionic Assurance irontpany and of National Uluon:1'ireini;urap"4onip ply elf Pjt 04irgh.F . Ifo llerehy certify that die foregoing e erpts of Ric adopted by the13aanls of Dircctors 61'1hese eo*iraIions.and the Pomrs of AIto mev is§.wd pursuant thereto:. arc IrLl and correct,and Ihill.hoth the R00lu11ons rind the Powers of Auorneyttre i0 fuII force afid effect. Ar3 IN WITNESS WIiLRE.()F,t have hereuruu set ray.hand and affixed the facsimiIC.seal of Carla Corporatiuii . ... �` ' i ay of 65166(4/96): My Ain Raaue,•Assistant Secrehary 4/19/2017 Company Profile CALIFORNIA COMPANY PROFILE Company Profile Company Search Company Information Company Information NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA Old Company 175 WATER STREET, 18 FLOOR Names NEW YORK, NY 10038 Agent for Service 877-399-6442 Reference Information Old Company Names Effective Date NAIC Group List Lines of Business Agent For Service Workers' Compensation KARISSA LOWRY Complaint and 2710 GATEWAY OAKS DRIVE Request for SUITE 150N Action/Appeals SACRAMENTO CA 95833 Contact Information Financial Statements Reference Information PDF's Annual Statements NAIC #; Quarterly 19445 _ Statements California Company ID #: 0131-3 Company Complaint - Company Date Authorized in California: 11/28/1902 Performance & Comparison Data License Status: UNLIMITED-NORMAL Company Company Type- Enforcement Action p y Property &Casualty Composite State of Domicile: PENNSYLVANIA Complaints Studies Additional Info back to top Find A Company Representative In Your Area NAIC Group List View Financial Disclaimer NAIC Group # 0012 AMERICAN INTL 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 DISABILITY FIRE LIABILITY MARINE MISCELLANEOUS PLATE GLASS SPRINKLER https:/fiinteracbve.web.insurance.ca.gov/companyprofiletcompanyprofile?event=companyProfile&doFuncbon=getCompanyProfile&eid=2693 1/2 4/19/2017 Company Profile SURETY TEAM AND VEHICLE WORKERS' COMPENSATION back to top © 2008 California Department of Insurance https:/f nteractive.web.insurance.ca.gov/com panyprofi le/com panyprofi le?event=com panyProfi le&doFunction=getCom panyProfi le&eid=2693 212 4/19/2017 National Union Fire Insurance Company of Pittsburgh,Pa.-Company Profile-Best's Credit Rating Center A.M. Best Rating Services National Union Fire Insurance Company of Pittsburgh, Pa. (?j A.M.Best M 002351 NAIC#:19445 FEIN#:250687550 Administrative Office View Additional Address Information F�W„gw 11111rarro*Raft 175 Water Street 16th Floor BEST New York,NY 10038 A- nt United States Assigned to insurance companies that have,in our opinion, Web:www.aig.com an excellent ability to meet their ongoing insurance Phone:212-770-7000 obligations. View additional news,reports and Products for this company. Based on A.M.Best's analysis,058702-American International Group 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 u(Excellent) Affiliation Code: p(Pooled) Financial Size Category: XV($2 Billion or greater) Implication: Negative Action: Under Review Effective Date: January 26,2017 Initial Rating Date: December 31,1907 Long-Term Issuer Credit Rating View Definition Long-Term: a u Implication: Negative Action: Under Review Effective Date: January 26,2017 Initial Rating Date: April 06,2005 u Denotes Under Review Best's Rating Best's Credit Rating Analyst Rating Issued by:A.M.Best Rating Services,Inc. Senior Financial Analyst:Darian Ryan Senior Director:Michael J.Lagomarsino,CFA,FIRM Disclosure Information I View A.M.Best's Rating Disclosure Form A.M.Best%ces CredIt Ralings of Amencan International Groon,Inc.and Subsldtanes Under Review with Negative Im rFC2Ijons January 26,2017 Rating History A.M.Best has provided ratings&analysis on this company since 1907. Financial Strength Rating Effective Date Rating 1/26/2017 A u 6/2/2016 A 1127/2016 A u 2/27/2015 A 2/20/2014 A 1/25/2013 A Long-Term Issuer Credit Rating Effective Date Rating 1/26/2017 au 6/2/2016 a 1/27/2016 a u 2/27/2015 a 2/20/2014 a 1/25/2013 a http://www3.ambest.com/ratings/entities/SearchResults.aspx?AltSrc=9 112 4/19/2017 National Union Fire Insurance Company of Pittsburgh,Pa.-Company Profile-Best's Credit Rating Center 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. 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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 I egol R I irvncin0 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:/twww3.ambest.com/ratings/entities/SearchResults.aspx?AltSrc=9 212 w AUTOMATICALLY RENEWABLE ~ C B CALIFORNIA BANK V fnusr TRUST FL Irvine Center Irvine CA 03/27/17 w ISSUED AT _ OFFICE DATE (CITY OR TOWN) (STATE) w0 Lennar Fresno Inc.FBO City of Fresno************8791084352_ U p (CUSTOMER NAME) (CUSTOMER NUMBER) **C]nQ Hijndr�r3 S 'xf Thousand and�I0/100************ DOLLARS $: 160, 000.00 I- w IY In j HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK &.TRUST PAYABLE TO _ City Of Fresno OR ORDER UPON MATURITY Q co AS HEREINAFTER SPECIFIED AND UPON PRESENTATION AND SU REER OF THIS CERTIFICATE PROPERLY ENDORSED,AT THE ABOVE OFFICE. Q, ~O THE MATURITY OF THIS CERTIFICATE WILL BE 3/27/1-V ATER DATE,AND SUCH MATURITY WILL BE AUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS z UNLESS:(A)AT LEAST TEN DAYS PRIOR TO SUCH ORIGINAL OR ANY EXTENDED MATURITY,THIS BANK HAS SENT WRITTEN NOTICE TO THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON ITS RECORDS OF BANK'S ELECTION TO PAY THE DEPOSIT AT SUCH ORIGINAL OR ANY EXTENDED MATURITY,OR(B)UPON OR WITHIN TEN DAYS AFTER SUCH ORIGINAL OR ANY EXTENDED 0 MATURITY DATE,THIS CERTIFICATE IS PRESENTED AND SURRENDEREUOR6A MENT- 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 INSTRUCTIONS OF THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON THE RECORDS OF THIS BANK.THE RATE OF INTEREST IS SUBJECT TO CHANGE BY BANK WITHOUT NOTICE,TO THE EXTENT NECESSARY TO COMPLY WITH ANY LAW OR GOVERNMENTAL REGULATION AFFECTING THE DEPOSIT. AUTHORIZED SIGNATURE OPS-1(05109) C L CALIFORNIAlBANK Teusr � B TRUST TIME CERTIFICATE DEPOSIT CONFIRMATION & AGREEMENT Account Title: LENNAR FRESNO INC Account Number:5791084352 FBO City of Fresno Issue Date: 03/27/2017 Deposit Amount: $160,000.00 Deposit Term: 24 Months Interest Rate: 0.007 Annual Percentage Yield: 0.010 Maturity Date:03/27/2019 Interest Frequency: ❑At Maturity ❑Annually ❑Quarterly El Monthly Interest Payment Method:O Add On ❑Issue Check ❑Transfer to Account Number: Certificate of Deposit (CD) C}� B CALIFORNIA BANK f ��'��'' TRUST For important terms governing your account,please see the Deposit Account Agreement.Current copies of the Deposit Account Agreement are available at any branch or online at www.calbanktrust.com.Information current as of 12/01/2016. Account Opening and Renewal 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 l See the separately provided"Time Deposit Confirmation"for interest rate,annual percentage lj yield,and the CD's maturity date and term. Interest Payment Interest will be paid monthly,quarterly,semi-annually,annually,or at maturity. See the sepa- rately provided"Time Deposit Confirmation"for details on your interest payment frequency. Annual Percentage Yield(APY)Calculation The term APY means a percentage rate reflecting the total amount of interest on an account based on the disclosed interest rate,the frequency of compounding for a 365-day period,and the assumption that Interest paid remains In the dLcuwil.A withdrawal will reduce earnings. CD Withdrawals(section continued on reverse side) Early Withdrawal Penalties Early withdrawal/closure penalties may be assessed when principal is withdrawn from a CD prior to the maturity date. Penalty Calculation The early withdrawal penalty is calculated based on the interest rate paid on your CD at the time of withdrawal and the length of your CD term.The penalty applies regardless of the length of time the funds have remained on deposit.The early withdrawal/closure penalties may affect the principal of the CD. CD Terms 31-days or less:The penalty assessed is equal to all interest the principal withdrawn would have earned for the entire term of the CD. CD Terms 32-days to 1-year: The penalty assessed is equivalent to 90 days interest earned on the amount of principal withdrawn. CD Terms Over 1-year:The penalty assessed is equivalent to 180 days interest earned on the amount of principal withdrawn Penalty may be waived if a depositor dies,is declared incompetent,or for other reason at our sole discretion. A division of ZI3,N.A.Member FDIC. CD Withdrawals (continued) Principal Withdrawals You may make withdrawals of principal from the account before maturity.However,principal withdrawn before maturity is included in the amount subject to early withdrawal penalties.A withdrawal may be made on the maturity date or during the grace period without penalty. Interest Withdrawals For CDs whose interest remains on deposit,interest may be withdrawn at any time during the term after it has been paid.Interest may also be withdrawn at maturity or during the grace period.After the grace period,interest not withdrawn will become principal and any withdrawal of those funds prior to the next maturity date will be subject to early withdrawal penalties. Additional Disclosures AmendmentsThese terms and your Deposit Account Agreement are subject to change with such notice as req iredd by law.See your Deposit Account Agreement for details. Other Fees Please contact us regarding fees for services not listed. Dispute Resolution Agreement Your Deposit Account Agreement contains a Jury Waiver and a Class Action waiver.Disputes are subject to binding Judicial Reference(a)if the Jury Waiver is not enforced,or(b)you are a con- sumer and you request Judicial Reference.See your Deposit Account Agreement for more infor- mation. A division of ZB,N.A.Member FDIC. Lennar Fresno,Inc. JPMorgan Chase Bank N.A. Chicago,IL 00842670 8080 N.Palm, Suite 110 m•zazz Fresno,CA 93711 Void if over 180 days rl9 DA rr_ I AMOUNT PAY 03/27/17 SEVEN THOUSAND SEVEN HUNDRED SIXTY AND 00/100 ************************************** 1]OLLAILS A Agov�_7 TO City of Fresno-Development Authorized Si,natory THE 2600 Fresno St ORDER OF Fresno CA 93721 Authorized Signatory. Two Signatures Required on Amounts Over$I00,000.00 1110013L, 26 7011" 1:07L923226i: 88629333L110 Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 8080 N.Palm, Suite 110 Chicago,IL 00842671 70-2322 Fresno, CA 93711 Void if over 180 days r19 DA'Z'E AMOUNT PAY 03/27/17 $***339,400.60 THREE HUNDRED THIRTY NINE THOUSAND FOUR HUNDRED AND 60/100 POLL ARS TO Ci tyof Fresno-Development THE I' [tthorized Signatory ORDER 2600 Fresno St OF Fresno CA 93721 u nze Signatory Two Signatur utred on Amounts erS100,000.00 4 115008L, 26 7L11' 1:07L9232264 88629333LIin ,. a Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 00$6,706 8080 N. Palm, Suite 110 Chicago,IL 70-2322 Fresno,CA 93711 Void if over 180 days 7fg DATE I AMOUNT-- PA Y MOUNTPAY 06/05/17 $****441780.90 FORTY FOUR THOUSAND SEVEN HUNDRED EIGHTY AND 90/100 ******************************** DOLLARS TO City of Fresno-Development Authorized Si natory THE 2600 Fresno St ORDER OF Fresno CA 93721 Au[horixed signatory Two Signatures Required an Amounts Over S I[)4.00,6[1 • • •• • . .• .• •• 6 11*0086700611■ 1:07L92322611: 88629333L11' Lei Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 8080 N. Palm, Suite 110 Chicago,IL 00857813 70.2322 Fresno,CA 93711 Void if over 180 days 719 DATE AMOUNT PAY 05/08/17 $****21,800.00 TWENTY ONE THOUSAND EIGHT HUNDRED AND 00/100 *************************************** DOLLARS TO OE City of Fresno-Development Authorized Si atony ORDER 2600 Fresno St OF Fresno CA 93721 Atsthorixzd Signatory Two Signatures Required an Amotmts Over 5100.000.00 ii'008578L3ii' 11:07L923226i: 88629333 Lill Lennar Fresno, Inc. JPMorgan Chase Bank N.A. 8080 N.Palm, Suite 110 Chicago,IL 00857814 7D-2322 Fresno, CA 937 l 1 Void if over 180 days 739 DATE AMOUNT PAY 05/08/17 $****24,000.00 TWENTY FOUR THOUSAND AND 00/100 **************************************************** DOLLARS TO City of Fresno-Development Aathorired s: aatury THE ORDER 2600 Fresno St OF Fresno CA 93721 Aulhtii d Signatory Two Signatures Required on Atnounts.Ovcr$100,np0.0i} THE FACE OF • •• OTHER COLORS • OF • OR FOR MORE SAFETY FEATURES. ii 0008578L40 ii:07L923226i: 88629333Lii' Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 8080 N.Palm, Suite l 10 Chicago,IL 00857815 70-2322 Fresno,CA 93711 Void if over 180 days Its DATE AMOUNT PAY 05/08/17 $****18,100.00 EIGHTEEN THOUSAND ONE HUNDRED AND 00/100 ******************************************* DOLL4RS THOE City of Fresno-Development Authorized Si natory ORDER 2600 Fresno St OF Fresno CA 93721 Authorized Signatory Two Signatures Required on Amount Over$I00,QW,00 5.� .... .�_ • t.. ;• e • e •• _ • • •• •• •• o 118008 5 78 L Sill 1:0 7 L 9 2 3 2 2 F34 88 6 29333 Lii' - 1 • n Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 8080 N.Palm, Suite 110 Chicago,IL 00857816 70-2327 Fresno, CA 93711 Void if over 180 days 719 DATE A;ufOU7•i•r PAY 05/08/17 W"31,600.00 THIRTY ONE THOUSAND SIX HUNDRED AND 00/100 ***************************************** DOLL 4RS THOE City of Fresno-Development Authnrized Si natory ORDER 2600 Fresno St OF Fresno CA 93721 Authorized Signamry Two Signatures Requircd on Amounts Over 5100,000.0. 0008S78L611' 1:07L923226i: 88629333L11' AMWMr• • IT171 late] TIMMIM1 • p Lennar Fresno,Inc. JPMorgan Chase Bank N.A. Chicago,IL 40857817 8080 N.Palm, Suite 110 70-2322 Fresno,CA 93711 Void if over 180 days 759 RATE: RMCJUNT PAY 05/08/17 $****39,700,00 THIRTY NINE THOUSAND SEVEN HUNDRED AND 00/100 ************************************** DOLLARS TO City of Fresno-Development Authorized Si natory THE ORDER2600 Fresno St OF Fresno CA 93721 Autltarired Signatory Two Signatures Required nn Amounts Over$100,000,00 110008S78L711' 1:07L9232261: 88629333LV Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 8080 N. Palm, Suite 110 Chicago,IL 40857818 7o-xs2z Fresno,CA 93711 Void if over 180 days 7'9 DATE I AN40U i'r PAY 05/08/17 $****33,000.00 THIRTY THREE THOUSAND AND 00/100 *************************************************** DOLLARS TO City of Fresno-Development Authorized Si natuty THE ORDER 2600 Fresno St OF Fresno CA 93721 Authorized Signatflry Twa Signatures Required on Amounts Over 5100,0{10,[10 1 . . • 1 1 . . 1 . . ii 0008S78L811" I:07L9232261: 88629333L11' .• Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 8080 N. Palm, Suite 110 Chicago,IL 00867005 7o•zsz21 Fresno,CA 93711 Void if over 180 days 719 DATE AMauni�t� PAY 06/05/17 $****61,800.00 SIXTY ONE THOUSAND EIGHT HUNDRED AND 00/100 *************************************** DOL1..4RS TO City of Fresno-Development THE Ainhorirc!Si natnr ORDER 2600 Fresno St v OF Fresno CA 93721 Aulburized Sigc,tory Two Signatures Required nrt Amounts(hoer 5100.000.(}t7 116008670051I' 1:07 &9232261: 88629333LI10