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HomeMy WebLinkAboutT-6131 - Cashier Memo - 7/17/2017 City of MEMORANDUM ff PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: July 17, 2017 TO: YOLANDA SMITH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO 6131 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING 1. Performance Bond in the amount of$3,992,000.00 2. Payment Bond in the amount of$2,101,000.00 3. 5% Performance Security a. Certificate of Deposit in the amount of$210,000.00 (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. 00873944) 5. The Balance on Exhibit B of the Subdivision Agreement a. Check in the amount of$796,413.99 (JPMorgan Chase Bank N.A. No. 00871767) 6. 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 mnwch�►e_ _._ M E M O"N D U M � :� �n .. PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: July 3, 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. 6131 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: $3,992,000.00 2. Payment Bond in the amount of: $2,101,000.00 If you have any questions, please contact me at 621-8684. Thank you, Jonathan Bartel RISK MANARFWwr A nivISIRN 4Ap rolled w� Lo sig oa Bond No.: 931142 Sterling Acres, Public Improvements Premium: $14,970.00/annum SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Lennar Homes of California, Inc. ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 6131 is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and National Union Fire Insurance Company of Pittsburgh, PA , as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of Three million nine hundred ninety two thousand and 00/100 dollars ($ 3,992,000.00 } 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 June 26 , 20 17 jPriij.ncipal: Homes of Caf ia. Inc., a California corporation S cNI•s"�, L)-GE RLe,40, `sea Insurance Company of Pittsburgh, PA By. - (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 June 30. 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. CHRISTINE COLLINS WITNESS my hand and official seal. Commission#2131344 Z , Notary Public-California zZ f. Fresno County r My Comm. Expires Nov 7,2019 Signature (Seal) 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 . Oranae ) On JUN 2 6 2017 before me, KathV R. Mair Notary Public DATE [Name of 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 persons}whose name(-s4 is/aye 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 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 Notary Public-CaI fornla Z Orange County - Commission#2193966 My Comm.Expires May 22,2021 Sig f 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: Mechelle Larkin Signer's Name ❑ Corporate Officer—Title(s). ❑ Corporate Officer—Title(s) ❑ Partner— ❑ Limited L_I 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: POWER OF ATTORNEY American Florae Assurance Coinpnny P.ayver No. atlona Union Fire Insurance Company'of Pitts bilI-gh,PA. Principal 13nitrl 01Tice. 175 Watcr Slrca.Ncx York,NY 10038 No. 05-11-034748 KNOW ALL MEN BY THESE PiUS>;NTS: .. Th.0Amcrican H0nic Assurance ConiPal y,ut t'civ.Y.ork�,orporal ion,and NAtl:iuna7 Up ion.Fire It s.untace Cnnzpany rzfPittsburgh;I?A;.d.PeAitsylyania carpnratinn.docs each hereby:appnin[ . --Kathy it:Vair,itf&-Wle Larkin,Stephanie Ranh: (41ttrine.Calitbini,17- its true and layvfut AttorncytsI-itl-Fact,with.fall auflinrily In execute on ifs hch ff bbnds,iindortakin s.recognizance and utlierettntrai:ts of ilailmnit%v and varitills obhgp or} in.the nature.thcr�l,issued in the couryr t1C its:bus$ncss,;and to bind the respcclive ci�inptirij-[lied;by.... . IN 1VITNE;SS W'IlF.i7E;UTr,American 1.10 171 Assurance L.ornpany.and Na 11(41111 Uiiipn l=ire hisvrancc Coinpan s7f Pittsburgh.PA-_havre dXh exe04tvid prc:c.nt; this 4'y of May.2017 ¢E' a • se Michael Yang.Vire..President: COU,NTN OF NE,W Y:ORIS 00 Cn this l[la.: dayor:;';' ay 2017befi re nzc came Uze above.naimed afl3cer of Arnesican}Minae:lssurancc Cddipany aad NLawnal Union mire JULIANA H ALLtk1B5CK Insurance C'ompnny nt'Pilisburgfi,PA-.Trrrile personally known tolye Itti: ....�#ayp;�yc�_5ldt][Illtevl�k utdividuaI anti u]]icer dcscrihcd herein,surd acknow l0gcd that hecxccutcd Clic [v1 pfldl�l E?1 lbreping iits turrnent and affixed fhc seals of s a A cor poiai wi v,theri_lu by Ck gwklzmCan�r.... ..... . .. ...... authority of Iris cIt.icc: I + -Ogp P i 104021 .: : CERTIFICATC'.. Exeipts o€PcsoI'uU—snS*adopted by the l3oards:6f 3 lectors ol'American Home Assurance Comp:i.n)iand Natinnal Union Fire insurance Comp.ny.6F Pittsbti.rg,.h PA.:ori:May 18, 19:76: "RESOLVED. ilia[the Chairman oflhe:BAard;the Presideinf;oi'any Vice President.be,and htrehy:is,authorized to int:1t(otnev�-in-1 uct.tn.relrrc�ient`. and aut tizr anis on hclt¢If'tzf the:Cnmpnny io.execute bunds,undenakingr•,rcctigizixnnees.and cilhei:e[tnlruels of indmily arid_wr."tttiags:obligatory iu t1w nature thereof,trod lit attach thorcta the corporiatc seal of th'Corripany,in thearansaGt art of its surety liusniess;' "RLS0LVED. that-tlzc s0nture.and attofalions 6f'such 6Miicers and.lhdseal uf•the Coin pany triaj be affikW:Eo ait*such Power ofAttorti ybi to any. ccrtilicatc relaiirig there its kty-fi-,inIiIc;inid a IIysoch 11mver:tif AttnrnUv or ccrtiftcate-hitaring`sucI1 lacsiniile sigiiawres'or.faesim't1e.s:al ,Iiall be valid and binding upon ihr L ompany uIicn so-11111 ud vv ith respect to any bond-uiidenakng,recogn i zasiee and otlie r.pntra t nl iitdcm[zity art i wriIitig:.ul3Ggittory in the nature thereof', . . .. "HESO i.l'Ell;ilial,int such 1[torne]-m-tract delivcriiig.n see:retuiiiI cert iticapott lint the foregomp r solUtiortl$still he:1n'effect sna} insect in sudi cc rtilication 111e date fhcreof said datc:.to be.not 141cr lbaii the ilatd of del1vciy Ili creof by.sigh Al torndv jn•F,acf." ...... I,kiDriin 11ognc,AstiisOnI SjocNtary of Ainuricari:Hom,V- Assurance:Corn riy and of. Nati:anal 11nion: Fire his uratice Conzjratly of Pimsburgh,PA`slo•her6y ccniN that the luregning uxcrpts of ltesoiutioIis adopted try tide Bol lyds of Dircd:tors oI'Ilin ::corpor tiipils.all d:tit Pei vq -rol'Atterr[e) issued p.drsu-oiit thert :lo. Arc Laic and correct,and Ihat bath the IZesnlill it)ns and the Povvecs of Atto rney.are in:foil.firex and clicct- 14 i'I'1PSS 111IE:RI::{}F. f havoc izcrctinlu sot inv hand and affixed.Ill e Fal:sirnrie-seal iai'cacls:cnrportlFl[iii this dray of (;.:7017 n a. [, I rib i•i'1[s] ► .. . Martin Bogu4;:Assistant Secrctaiy .. Bond No.: 931142 Sterling Acres, Public Improvements 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 Ca ifornia, 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. 6131 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 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 Two million one hundred one thousand and 00/100 dollars ($2,101,000 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 June 26 -. 20 17 Principal: r Ho of alifor ia, nc., a California corporation By: (Princi S, du101/VIC6i4c"iO" ty:Na n Union re surance Company of Pittsburgh, PA By: (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 June 30, 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 COLLINS Commission #2131344 f, z Notary Public-California n . 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 Orange ) On JUN 2 6 2017 before me, Kathy R. Mair NotaLy Public DATE [Name of 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 names} is/a-Fe 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 h+s/her/the# signatures} on the instrument the person(s}, or the entity upon behalf of which the persons} acted, executed the instrument. I 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 Notary Publlc-Callfornia '-r C}range County Commission x 2193966 f My Comm.Expires May 22,2021 Signator 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. Mechelle Larkin Signer's Name: . ❑ Corporate Officer—Title(s): ❑ Corporate Officer—Title(s)- Partner— itle(s)- Partner— ❑ Limited [ General ❑ Partner— ❑ Limited ❑ General ❑ Individual ® Attorney-in-Fact ❑ Individual U Attorney-in-Fact ❑ Trustee ❑ Guardian or Conservator ❑ Trustee ❑ Guardian or Conservator ❑ Other: ❑ Other: Signer Is Representing: __ Signer is Representing: .. POWER OF ATTORNEY American orae Assurance Company. Power No. ?n]1 National Union Fire Insurance Company of A tsf>'UI' Il,P.A. ?rineipal f3olld[7f11Cc 17.5 Water Street.atilc+v York.Iti}' IS]{138 .. No. 515-Ii-1134748 KNOW AL1,NT EN BY THESE T'RFSEWS: -Thal American I home Assurance C:olnpan},a Nm.York.ci timration,and Nasional llninn l ire l)is.uratl e Company of Nitsburgli,PA.,n.t'eruisylyaria corparallnn, ne3.�:lcll.herefiy.appnillt .. --•14alliy R. Mil lr,A4cclielle 1ark in,5tepiranic lial.ih-cif lri•ine.Califilrnia=.� its frac and IawliA Attorney{s}_i!i-Fact,with fidl autltnrity to c�ectlle -h%1 s bclinlf bond$;tinalcrtakings.rcCognirgn0s:and 11ther:will rnels of iI!Umnity and writilip obiigalory in:]he iiatllrc tliemof.issuul in the cuur.w of its-btlsiiress,and to.bind the rCSpooIve company ther-cby... IN I'M ENS—WIHFREOr,Ant vrican Home Al surtilicc C'omparty and National Union vire insurance Cotnpa01)f Pittsbnrgb.PAL havfe each executed Illcsc presents this t day of 7 ... .. .. MichaeI Yalig.Vici PicsiJcnt. STATE _ OR K COUN'r1'OF NEW YORK On this.4th day of .May,.?p 17 .;. bcf re hie can1q ill abt)ve Ila med trf#icer of American f 6:11 :ilysurancc Luiltpany amid Nratlonal Uriinri File Insurance Cnmpatly of'lTitlsburell.PA..[o Inc personail ` ]� ��]-� ����� kvvt0'bcthe . ....4 .' Gtlf individual and officer described herein.and ael:nCINYIe lged 1}191 he c"cetncd tlie... lv'3 D9F&11�571 p p , fnre;uina lnsttlrniclrt mold afCrx�d the 5Cals of'satd Cnr iiratlit ns the r¢to hy' f l;rdh.&WCow auil ,rIty of his 11ftICe: ..... fl om�IApt7ISM CElZTI.F[Cr1TE . Uxerpts of.Besolii[ibris adopted by die Moar&.617Diiecwri oi'Ainoricaa Home Assnriutec C'ompaliy aril Na[iotial i'l ictiil Fire Insurance['umptsny:nt'.Pitlshingli. PA .on May 18, 1476 "RESID VED ;tTiiitthe Chiiiriiian ofilieS ardy the Presidelit w:anv Vscc:Prv: idem 1ie;',lnd jftreb}.i .autitrlti�ed to a paint.Atlorize s=hl-Fact tn.represent. sand act f&ai d:on behaffof the Company let execute bands,.undertakings.recognizaiiees and other contracts of hidemay anti.tivrilines ahllg:ttirn in Ilie alalure thereof•and to altach thorelo the Corporate seal of the Company,in fhe transaction of its surety h6filcss; a "i FE SOLVED, that llte signatiues and nttcstntinns r,f.such i.tlficcrs.and.tlre.seat of.thc Company may be aY2i L d.fn any X0011 P(4er n1`A tome+sir to an�..:` ccltl ficate Ie acing t wrelo by facsintile,air .any such P�oweFbf Altomevor cckitcaw hswiug`such racsirnile slgli.atumsot 6ic-Mirie.seal sliall be valid:illid binding upon rhe CoMpany when so aflowd'Villi respect to any bond,undertaking.tecngnizilacc and::other.:contram of.in.dcninily and.%ynIiitcr.obIipaTory in ill.. llatttn:tlrercul: "11ES[)I.VED,'IhaI any suc;h Attorney-in-Fact d0iveri11g.a secretarial cell itiCatioil that the fo regoineresnlutions5tiII be'.in cMeet may insert:in suets ie rl i 11 cat l Lill rhe daw llicreaf,said date:to be::not.h ter Ulan the date of del ivory I1iereof by auch.Aftoi yirt-.Fac 1. .... ....... •.,. artut e,gue,Assistant-.•i:cxet,try of r.mctican He]Inc:.\ss.0 ran ce(_nnlpaiIy pod of Nat'to nal t lni.nn.Fjm TIi54rr:In&C':4llnpitny of f'ihOt-uch,PA da.i,cr�eby .. certify that the foregoing exerpts of Resolu6b is doldpted.by the Boards of Directors of these.corPiiratiiins.amid t#ie Pei vara iif Atrotncy iss}icd pursuant ill ct<iii, iI e aur rind correct:and that.both.illy Resolunolss and ills;Powers.afAtionic arc 11111111 Cci'rcc Itoj etl'ect. ..... y� 11 NV11IESS W11F.KLOF;1 Iiave 1l-eye slnto set inr hand.and aftixed..the facsinllle::scai of.eacl}.enrporatioii �+ +Nst`C{� tins. day of JUN 2 61017 .. 65166 0i961 �'� •� 'vtanin.f3,igue;i ks mam Secretary. 7/5/2017 Company Profile CALIFORNIA DEPARTMENT 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 Quarterly NAIC #:• 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: [property &Casualty Enforcement Action 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:Hinteractive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfiile&doFunction=getCompanyProfiile&eid=2693 1/2 7/5/2017 Company Profile SURETY TEAM AND VEHICLE WORKERS' COMPENSATION back to top © 2008 California Department of Insurance haps://interactive.web.insurance.ca.govlcompanyprofilelcompanyprofile?eve nt=compan yProfile&doFunction=getCampanyProfile&eid=2693 2/2 7/5/2017 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. (, A.M.Best#:002351 NAIC M 18445 FEND 8:250667550 Administrative Office View Additional Address Information FI>.rncW eawgv�Nay 175 Water Street 16th Floor New York,NY 10036 -11Es7 United States A c kni Assigned to insurance companies that have,in our opinion, Web:www.aia.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(Excellent) Affiliation Code: p(Pooled) Financial Size Category: XV($2 Billion or greater) Outlook: Stable Action: Affirmed Effective Date: May 23,2017 Initial Rating Date: December 31,1907 Long-Term Issuer Credit Rating Vlew Definition Long-Term: a Outlook: Stable Action: Affirmed Effective Date: May 23,2017 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:Darien Ryan Senior Director:Michael J.Lagomarsino,CFA,FIRM Disclosure Information �u View A.M.Best's Rating Disclosure Form ��46, A.M.Best R m v From Under Review With N a iv I li ilon and Affrms Credit Ratim s of AI n i i rl � May 23,2017 Rating History A.M.Best has provided ratings&analysis on this company since 1907. Financial Strength Rating Effective Date Rating 5/23/2017 A 1/26/2017 Au 6/2/2016 A 1/27/2016 Au 2/27/2015 A 2/20/2014 A 1125/2013 A Long-Term Issuer Credit Rating Effective Date Rating 5/23/2017 a 1/26/2017 au 6/2/2016 a 1/27/2016 au 2/27/2015 a 2/20/2014 a 1/25/2013 a http://www3.ambest.com/ratings/entities/Com panyProfile.aspx?ambnum=2351&URATING ID=2392449&MCToken=11969137516011911193561021382... 1/2 7/5/2017 National Union Fire Insurance Company of Pittsburgh,Pa.-Company Profile-Best's Credit Rating Center AMB Credit Reports 1I AMB Credit Report -includes Best's Financial Strength Rating and rationale along with comprehensive analytical commentary,detailed business overview and key financial data. V Report Revision Date:6/28/2017(represents the latest significant change). I Historical Reports are available in AMB Credit Report Archive. V View additional news,reports and products for this company. Press Releases Date Title May 23,2017 A v s From Under Review i h N i 1 n and Affi ±s CreditRatinci5 of Al uries Jan 26,2017 A.M.Best Place5 Credit Ratin s of American International GrQup, and 5 hsidiaries Under Review with N iv Im II ion Jun 02,2016 AM.B est Rie moves From Under Review and Affirm 5 Ra in g5 9Amyrican Intemationa I Grou In c.and M ai ori ty of Its Subsi nes s Jan 27,2016 A.M.Best Places Ra in f Amefrcait Internatiahit]Grou ii,[nL_anr1d__ft5 Sy los idiaries Under Review with Ne tialive Im v Iications Feb 27,2015 A.M.Best Affirms RaV ri gs of American Internat lo n a I G roup,Inc.and Its U.S.Pr as uaIV Subsrdiaroes Feb 20,2014 A,M,Best Affi rEns Railn cis of Am r' n InternatianaI Gra up,Inn.and Its U.S.Pro I sidiarr-5 Jan 24,2013 A M,Best Affirms Ratings of American International Group.Inr.and Its U.5_Property Casually Subsidiaries Jan 27,2012 B ises Outlook to Stable for M Inc Worth American Pro n Dec 20,2010 A M.B ffi rnis Rati n as of A rn eri can interna io na!Grot D om est ic Pro a Ca sua Ity and Life 5 u b5i d i ari es Oct 14,2010 A,M.Best Wit raws PW ti n g5 of Audubon Com panies and Nat lo na I U ni on F rre In SU ranee Coma ny of Louisiana Due To Merg er 1 2 Page size: 10 17 items in 2 pages European Union Disclosures A.M Best-Europe Rating Services Limited(AMBERS),a subsidiary of A M Best Rating Services,Inc.,is an External Credit Assessment Institution(ECAI)in the European Union(EU)Therefore,Credit Ratings issued and endorsed by AMBERS may be used for regulatory purposes in the EU as per Directive 2006/48/EC Australian Disclosures A.M.Best Asia-Pacific Limited(AMBAP),Australian Registered Body Number(ARBN No.150375287),is a limited liability company incorporated and domiciled in Hong Kong.AMBAP is a wholesale Australian Financial Services(AFS)Licence holder(AFS No 411055)under the Corporations Act 2001.Credit Ratings emanating from AMBAP are not intended for and must not be distributed to any person in Australia other than a wholesale client as defined in Chapter 7 of the Corporations Act AMBAP does not authorize its Credit Ratings to be disseminated by a third-party in a manner that could reasonably be regarded as being intended to influence a retail client in making a decision in relation to a particular product or class of financial product.AMBAP Credit Ratings are intended for wholesale clients only,as defined Credit Ratings determined and disseminated by AMBAP are the opinion of AMBAP only and not any specific credit analyst AMBAP Credit Ratings are statements of opinion and not statements of fact.They are not recommendations to buy,hold or sell any securities or any other form of financial product,including insurance policies and are not a recommendation to be used to make investment/purchasing decisions Important Notice:A.M.Best's Credit Ratings are independent and objective opinions,not statements of fad A.M Best is not an Investment Advisor,does not offer investment advice of any kind,nor does the company or its Ratings Analysis offer any form of structuring or financial advice.A.M.Best's credit opinions are not recommendations to buy,sell or hold securities,or to make any other investment decisions.For additional information regarding the use and limitations of Credit Rating opinions,as well as the rating process,information requirements and other rating related terms and definitions,please view Understanding Best's Credit Ratings. About A.M.Best I Site Map I Customer Service I Member Center I Contact Info I Careers I Terms of Use I Privacy Policy I Security I Legal&Licensing Regulatory Affairs-Form NRSRO-Code of Conduct-Rating Methodology-Historical Performance Data Copyright©2017 A M.Best Company,Inc.and/or its affiliates ALL RIGHTS RESERVED. http://www3.ambest.com/ratings/entities/Com panyProftle.aspx?ambnum=2351&URATINGID=2392449&MCToken=11969137516011911193561021382... 2/2 W AUTOMATICALLY RENEWABLE B CALIFORNIA BANK UTAt:sr TRUST LL H Y ISSUEDAT Irvine OFFICE Ervine _ _ CA DATE 07,/1_f)/2017 WO (CITY OR TOWN) (STATE) WY **Lennar Fresno Inc FBO City of Fresno************5791084386********** UO (CUSTOMER NAME) (CUSTOMER NUMBER) Two Hundred Ten Thousand and No/1 OO***************** DOLLARS $21 Q , 000 _ 00 c FLLI- LC j HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK & TRUST PAYABLE TO OR ORDER UPON MATURITY 7 Q rn AS HEREINAFTER SPECIFIED AND UPON PRESENTATION AqD SURA NDER OFTHIS CERTIFICATE,PROPERLY ENDORSED,AT THE ABOVE OFFICE, F ILF-THE MATURITY OF THIS CERTIFICATE WILL BE 4.rTEfl DATE,AND SUCH MATURITY WILL BE AUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS Fir 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 1111 WITHIN TEN DAYS AFTER SUCH D 'IhAI OR ANY EXTENDED MATURITY DATE,THIS CERTIFICATE IS PRESENTED AND SURRENDERED FOR PAYMENT. 1 It SAID DEPOSIT BEARS SIMPLE INTEREST AT THE RATE OF n (1 7 PER ANNUM FROM DATE HEREOF UNTIL ULTIMATE MATURITY,AS ABOVE PROVIDED,AND SUCH INTEREST WILL t I BE PAID OR CREDITED AT EACH SUCCESSIVE MATURITY DATE IN ACCORDANCE WITH THE WRITTEN ; INSTRUCTIONS OF THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON THE RECORDS OF THIS BANK.THE RATE OF INTEREST IS SUBJECT TO CHANGE BY BANK WITHOUT NOTICE,TO THE EXTENT NECESSARY TO COMPLY WITH ANY LAW OR GOVERNMENTAL REGULATION AFFECTING THE DEPOSIT. r AUTHORIZED SIGNATURE OPS-1(06/16) A division of ZB,N.A.Member FDIC Y Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 8080 N. Palm, Suite 110 Chicago,IL 110873944 70.2322 Fresno, CA 93711 Void if over 180 days 719 DATE, AMOUNT PAY 06/26/17 $*****7,760.00 SEVEN THOUSAND SEVEN HUNDRED SIXTY AND 00/100 ************************************** DOLLARS TO Ci of Fresno-Development THE City p Authoriud5i nasar7 ORDER 2600 Fresno St OF Fresno CA 93721 Authorized Signatory Two Signatures Required on Amounts Dvur 5100,000,00 11.0087394411' 1:0719232261: 88629333 L"' Lennar Fresno,Inc. JPMorgan Chase Bank N.A. 8080 N. Palm, Suite 110 Chicago,IL 00871767 70- 3 Fresno,CA 93711 Void if over 180 days 7 t 9 PATE nuaurlT PAY 06/19/17 $***796,413.99 SEVEN HUNDRED NINETY SIC THOUSAND FOUR HUNDRED THIRTEEN AND 99/100 ***************** DOLLARS TO City of Fresno-Development AiLl tMC/ THE St 2600 Fresno ORDER kQ�41l OF Fresno CA 93721 Autllorurd Signatory Two Signatures Required un Amounts it 5100.000.00 • 1 . • • . . �• •• •• n 11'0087L7671I' 1:07L9232261: 88629333LI16 C CALIFOliNI,11FiANK I-K . TRYST TIME CERTIFICATE DEPOSIT CONFIRMATION & AGREEMENT Account Title: LENNAR FRESNO INC Account Number:5791084386 Issue Date: 07/10/2017 Deposit Amount: $210,000.00 Deposit Term: 24 Months Interest Rate: 0.007 Annual Percentage Yield: 0.010 Maturity Date:07/10/2019 Interest Frequency: ❑At Maturity ❑Annually ❑Quarterly 0 Monthly Interest Payment Method:0 Add On ❑Issue Check ❑Transfer to Account Number: Certificate of Deposit (CD) . � CALIFORNIA BANK r 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 12/01/2016. AccountOpening 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 • Payment Fixed Rate Your disclosed interest rate will not change until the CD renews at first maturity. Interest Compounding Daily Interest Information and Term See the separately provided"Time Deposit Confirmation"for interest rate,annual percentage yield,and the CD's maturity date and term. Interest Payment Interest will be paid monthly,quarterly,semi-annually,annually,or at maturity. See the sepa- rately provided"Time Deposit Confirmation"for details on your interest payment frequency. Annual Percentage Yield(APY)Calculation The term APY means a percentage rate reflecting the total amount of interest on an account based on the disclosed interest rate,the frequency of compounding for a 365-day period,and the assumption that interest paid remains in the account.A withdrawal will reduce earnings. Withdrawalsi CD •n continued o Early Withdrawal Penalties Early withdrawal/closure penalties may be assessed when principal is withdrawn from a CD prior to the maturity date. Penalty Calculation The early withdrawal penalty is calculated based on the interest rate paid on your CD at the time of withdrawal and the length of your CD term.The penalty applies regardless of the length of time the funds have remained on deposit.The early withdrawal/closure penalties may affect the principal of the CD. CD Terms 31-days or less:The penalty assessed is equal to all interest the principal withdrawn would have earned for the entire term of the CD. CD Terms 32-days to 1-year: The penalty assessed is equivalent to 90 days interest earned on the amount of principal withdrawn. CD Terms Over 1-year:The penalty assessed is equivalent to 180 days interest earned on the amount of principal withdrawn Penalty may be waived if a depositor dies,is declared incompetent,or for other reason at our sole discretion. A division of ZB,N.A.Member FDIC. CD Withdrawals (continued) Principal Withdrawals You may make withdrawals of principal from the account before maturity.However,principal withdrawn before maturity is included in the amount subject to early withdrawal penalties.A withdrawal may be made on the maturity date or during the grace period without penalty. Interest Withdrawals For CDs whose interest remains on deposit,interest may be withdrawn at any time during the term after it has been paid.Interest may also be withdrawn at maturity or during the grace period.After the grace period,interest not withdrawn will become principal and any withdrawal of those funds prior to the next maturity date will be subject to early withdrawal penalties. Additional Disclosures Amendments These terms and your Deposit Account Agreement are subject to change with such notice as required by law.See your Deposit Account Agreement for details. Other Fees Please contact us regarding fees for services not listed. Dispute Resolution Agreement Your Deposit Account Agreement contains a Jury Waiver and a Class Action waiver.Disputes are subject to binding Judicial Reference(a)if the Jury Waiver is not enforced,or(b)you are a con- sumer and you request Judicial Reference.See your Deposit Account Agreement for more infor- mation. A division of ZB,N.A.Member FDIC.