Loading...
HomeMy WebLinkAboutT-6099 - Cashier Memo - 8/11/2017 City of MEMORANDUM PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: August 11, 2017 TO: YOLANDA SMITH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 6099 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING 1. Performance Bond in the amount of$366,000.00 2. Payment Bond in the amount of$192,500.00 3. 5% Performance Security a. Certificate of Deposit in the amount of$19,000.00 (California Bank &Trust) 4. The Balance on Exhibit B of the Subdivision Agreement a. Check in the amount of$272,023.04 (California Bank&Trust No. 22-00085787) 5. Document preparation fees deposit into 180203 10101 34559 a. Check in the amount of$5,572.00 (California Bank &Trust No. 22-00085288) 6. Copy of the Subdivision Agreement identifying itemized applicable charges. If you have any questions, please contact me at 621-8684. Thank you, Jonathan artel City of MEMORANDUM PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: August 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. 6099 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: $366,000.00 2. Payment Bond in the amount of: $192,500.00 If you have any questions, please contact me at 621-8684. Thank you,_ Jonatha Bartel RISK MANAGEMENT DIVI oN E� i I,► Approved A proved wlChe a Ll AVG 0 3 �1 IedF� `� Bond No.: 705629S Premium $1,830/annually SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Las Brisas Builders. Inc., a California Corporation ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 6099 is hereby referred to and made a part hereof; and Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and Developers Surety and Indemnity Company, as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of Three Hundred sixty six thousand and 00/100 dollars ($ $366,000 ) lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally, firmly by these presents. The condition of this obligation is such that if the above bounded principal, his or its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and provisions in the said agreement and any alteration thereof made as therein provided, on his or their part, to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless City, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the agreement or to the work to be performed thereunder or the specifications accompanying the same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the agreement or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the principal and surety above named, on July 26 2017. Principal: Las Brisas Builders Inc. a California Corporation By: (Pr ncipal) Surety: Devely ers Sure nd Indemnity Company By: - (Surety) Ky e Wilson, 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 July 31, 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 person(e)whose nameH is/aFe- subscribed to the within instrument and acknowledged to me that hetsho4hey executed the same in his/hefAI-veir authorized capacity(ies), and that by his/weir signature(4)on the instrument the person(s), or the entity upon behalf of which the person(4acted, 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. - - - - - - - - - - - - - - - MADELYNt CUELLAR WITNESS my hand and official seal. CaffaAuWn#2109017 gamy Pubk-CWomla Frano County Comm.=MIF 13,2018 j ! Signature i '� += ' c;' (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 gl'that document. State of CALIFORNIA County of FRESNO On July 26, 2017 before me, Christine Bagetakos,NOTARY PUBLIC, personally appeared Kyle Wilson, 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. WITNESS my hand and official seal. CHRISTINE BAGETAKOS Notary Public—California Fresno County 3 Commission2200014 (=[/I/GC/i�!/►�`� I My Comm.Expires Jun 3,2021 J Signature of Notary OPTIONAL Though the data below is not required by law,it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT ❑ INDIVIDUAL ❑ CORPORATE OFFICER ❑ PARTNER(S) ❑ LIMITED ® ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S)OR ENTITY(IES) CA-ICW 24(7/00) POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO Box 19725,IRVINE,CA 92623 (949)263-3300 KNOWALL 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-Fad,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 Attorney(s)win-Fad full power and euthodty to do and to perform every ad necessary,requisite or proper to be done in connection therewith as each of said corporations could do,but reserving to each of said corporations full power of substitution and revocation,and all of the ads of said Attomey(s)win-Fact,pursuant to these presents,are hereby ratified and confirmed This Power of Attorney is granted and Is signed by facsimile under and by authority of the following resolutions adopted by the respective Boards of Directors of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,effective as of January 1st 2008. RESOLVED,that a combination of any two of the Chairman of the Board,the President,Executive Vice-President Senior*e•Presldent or any Vice President of the corporations be,and that each of them hereby 1%authorized to execute this Power of Attorney,qualifying the aftomey(s)named In the Power of Attorney to execute,on behalf of the corporaliarm bonds,underlakings and corihots of suretyship;and that the Secretary or any Assislml Secretary of either of the corporations be,and each of them hereby is,authorized to attest the execution of any such Power of Attornoy; RESOLVED,FURTHER,that the signatures of such officm may be affixed to any sueh Power of Attomey or to any cerGfrcate relating thereto by facstrrifla,and any such Power of Attorney or certiflcsto bearing such facelmlle aignsbtres shell be vafid and 6fnding upon the oerporalions when so affixed and In tho 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 AssislBnt Secretary this 6th day of February,2017. By; ' s'i'r+r"'°rti �P' Y ra Daniel Young,Senior ice President r� .�"pvQ ,�s �ti RPO = 1936 = g OC1. T.e =o. _ rasa By Mark Lansdon,Yce President �'�0::;- 'r �y��[1F p►''! ,,3a.. ..•��,r o A notary public or other officer compleifng this certificate verifies only the idenlHy of the Individual who signed the document to which this certificate is attac hed,and not the truthfulness,aecuracy,or valid!ty of that document. State of Callomia County of 0ran9e On February 6.2017 before in% Lucille Raymond,Notary Public Data rw.tno.rer■,..am�rer.omo. Personally appeared Daniel You and Mark Larisdon NZ+h)Of Sgnx(a) 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 halahalthey executed the same in htsfherAh&authorized capacity(res),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 J rA! Con rilidan#20518/5 1Notary teubAC-Callfomis I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph Is 0nli Cammytrue and corned.Mi Comm,E Of:t lru 1S.-20 16 WITNESS my hand and official%Luciv$md, Place Notary Seat Above Signature Notary 4ftblic CERTIFICATE The undersigned,as Secretary or Assistant Sametary of DEVELOPERS SURETY AND INDEMNITY COMPANY or INDEMNITY COMPANY OF CALIFORNIA,does hereby otatify that the foregoing Power of Attorney remains in full force and has net teen revoked and,furthermore,Etat the provisions of the resolulions of the respective Boards of Directors of said corporations set forth In the Power of Aticmey are In force as of the date of this Certificate. "'OhMn,.,N.., This Certifute is executed in the City of Irvine.Ca fornia,this 26th day of July 2017 +tv AND pANY p►s O,r �/ , 2G gPo�R��rF� By. _ 1936 =i= S OCT.6 ° o C-83910J. ford,Assistant 5 tary ,967 2 ATS 1002(02!17) e.enp.+• Bond No.: 705629S Premium: Included SUBDIVISION IMPROVEMENT PAYMENT BOND Whereas, the City Council of the City of Fresno, State of California, and Las Brisas Builders Inc. a California Corporation ("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. 6099 , 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 Developers Surety and Indemnity Company , as corporate surety, are held firmly bound unto the City and all contractors, subcontractors, laborers, material men, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum of One Hundred ninety two thousand five hundred and 00/100 dollars ($ $192,500 ), 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 _ July 26 , 2017 . Principal: Las Brisas Builders Inc. a California Corporation By: (Principa Surety: Developers Surety and Indemnity Company By: ��- Surety) Kyle Wilson, 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 July 31, 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 person(s)whose name(.&) islere- subscribed to the within instrument and acknowledged to me that he/sigeAhrey executed the same in his/hie#thek authorized capacity(), and that by hisA494t4eir signature(s)on the instrument the person(&), or the entity upon behalf of which the person(e.) 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#2103017Nohry public-California VIEW Fresno County C"M ins 1YIar 13 2018 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 FRESNO On July 26, 2017 before me, Christine Bagetakos,NOTARY PUBLIC,personally appeared Kyle Wilson, proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s)acted,executed the instrument. I certify under the PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. CHRISTINE f3AGETAK05 WITNESS my hand and official seal. Notary Public-California Fresno County Commission 220001l My Comm.Expires Jun 3,2021 2021 r@�] Signature of Notary OPTIONAL Though the data below is not required by law,it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT ❑ INDIVIDUAL ❑ CORPORATE OFFICER ❑ PARTNER(S) ❑ LIMITED ® ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S)OR ENTITY(IES) CA-ICN 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-Fad,to make,execute,deliver and acknowledge,for and on behalf of said owporations,as sureties,bonds,undertakings and contracts of suretyship giving and granting unto said Atlomey(s)min-Fed full power and authority to do and to perform every ad necessary,requisite or proper to be done in connection therewith as each of said corporations could do,but reserving to each of said corporations fug power of substitution end revocation,and all of the ads of said Atlomey(s}in•Fect,pursuant to these presents,are hereby ratified and oontmed This Power of Atlomoy is granted and is sign ad by facslmtle under and by authority of the fallowing r%otudons adopted by the respective Boards of Directors of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY CCMPAN Y 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 Vioe-President or any Vice President of the eorporaWns 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 corporsfions,bonds,undertakings and contrads of suretyship;and that the Secretary or anyAssistant Secretary of either of the corporations be,and each of them hereby is,authorized to attest the execution of any such Power of Atlomey; RESOLVED,FURTHER,that tha signatures cl such ot,icers may be affixed to any such Power of Attorney or to any oes!Mcate relating thereto by famirnk and any such Power ofAftomey or cardrfcate bearing such facstmile signatures shall be valid and binding upon fie owpordom when so affnred and In tha tutu re with rasped to any bond,undertaidng 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 Ascent Secretary this 6th day of February,2017. By: V01,� 11 — Daniel Young,Senior Vice-President fi =. 1936s 2 By. Mark Landon,Vloe-President 's� � ��c'41:0 A notary public or other officer cornpleting this certificate verifies only the identilly of the individual who stgned the document to which this certtfrate is aHach ad,and not the truthfulness,accura ,or via Iidi! of that d0cumenL State of CaGtania County of Orange On February 6.2017 before me, Lu 2a Raymond,Notary Public Dab Hire =t H/1m 04 Tfbt of 4n 05M persare0y appeared Daniel Yourm and Mark Lansdon "s)of wgnn[e) who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s)islare subscribed to the within instrument and acknRh owledged to me that hefsheey executed the same in hWheftair aulh&imd capacity�es],and that by histhe-their signatures)on the Instrument the person(s),or the entity upon behalf o` LUvillog RRYMOND which the person(s)acted,executed the Instrument. Comntlatdon 12Qe191S Notary PMC-COMM I certify under PENALTY OF PERJURY under the laws of the State of Cardomia that the foregoing paragraph Is L'ump" Orop Cowltytrue and comect. M Comm.Er Irtft Oct 13 2018+ WITNESS my hand and official seal Place Notary Said Above Signature Lural ond.Notary Public up 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 Atbmey remains in full torte and has not been revoked and,furthermore,that the provision of the resolutions of the respective Boards of Directors of said corporations set forth In the Power of Attomey are In force as of the date of this Certificate. This Certificate Is executed in the City of Irvine,California.this 26th day of July 2017 s•''�y n►+o ' pItQAN}'O,c [, 1936 ` _ ~ °CT.5 ° a Cassfe f, fad,Assistant 5 t967 syv�tir+lrFOK S$r may.�� F RV� 2 v � ATS-1002(02117) .,f,tote y,• 8/8/2017 Company Profile CALIFORNIA DEPARTMENT OF INSURANCE COMPANY PROFILE Company Profile Company Search Company Information Company Information DEVELOPERS SURETY AND INDEMNITY COMPANY Old Company Names 17771 COWAN STE 100 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 LEGAL INSURANCE LIABILITY MARINE MISCELLANEOUS PLATE GLASS SPRINKLER SURETY back to top https:Hinteractive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfile&doFunction=getCompanyProfiile&eid=100170 1/2 8/8/2017 Company Profile © 2008 California Department of Insurance https:Hinteractive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfile&doFunction=getCompanyProfile&eid=100170 2/2 8/8/2017 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center A.M. Best Rating Services Developers Surety and Indemnity Company u A.M.hest N:011752 NAIC M 12718 FEIN M 420429710 Mailing Address View Additional Address Information F-imma l Strwo Rating P.O.Box 19725 Irvine,CA 92623-9725 eEST A United States Assigned to insurance companies that have,in our opinion, Web:www.amtrustsuretv.com an excellent ability to meet their bngoing insurance Phone:949-263-3300 obligations. 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 Vlew 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 Rating 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,FRM Disclosure Information r View A.M.Best's Rating Disclosure Form ti A M.B R Ou oaks to Ne ative n Aff red Ralin of Am7 Fin n t Inc.and I Su si ries February 27,2017 s i 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 a 7/8/2016 3 5/29/2015 a 5/30/2014 a 118/2014 9/20/2013 a-u http://www3.ambest.com/ratings/entities/SearchResults.aspx?AltSrc=9 1/2 8/8/2017 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center 6/17/2013 a- 5/31/201 2 - 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. Report Revision Date:4/10/2017(represents the latest significant change). Historical Reports are available in AMB Credit Report Archive. L11 View additional news.revorts and products for this company. Press Releases Date Title May 25,2017 A,M.Best Comments on Credlt Ratings of AmTrust Financial Services,Inc.and-Subsidiaries Following Common Eguity Raise Feb 27,2017 AM Best Revises Outlooks to Pleiiative and Affirms_Credit Ratings of Am Trust Financial Services.Inc.and Its Subsidiaries Jul 08,2016 A.M.Best Affirms Ratings of AmTrust Financial Services Inc and Its Subsidiaries May 29,2015 A.M.Best Affirms Ratings of AmTrust Financial Services.Inc and Its Subsidiaries Apr 23,2015 A.M.Best Places Ratin gs of Sprin Off eld Insurance Cc my a ny Under Revi ew Wi lications Jan 08,2014 A.M,gest Upgrades RatingsgffEDeyel_pgers Surety and Indemnity Company and Indemnily Company of California Sep 20,2013 A,A Best Places Ratings 4f Devefoyers Surety and Indemnity Company and Indemnity Company of California Under Review May 31,2012 M.R est Revises Outlook to Ne gative for Deve I opersSurety and Ind emnit and Its Subsldia ry,I n d ernnity Cornip any of Ca11forni 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 Nm 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 fact.A.M-Best is not an Investment Advisor,does not offer investment advice of any kind,nor does the company or its Ratings Analysts offer any form of structuring or financial advice.A M Best's credit opinions are not recommendations to buy,sell or hold securities,or to make any other investment decisions.For addifional 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/SearchResults.aspx?AltSrc=9 2/2 W AUTOMATICALLY RENEWABLE CALIFORNIA BANK U T°f1 TRUST LL F- Y ISSUED AT Fresno Main OFFICE I'rL s n o CA 7/20/17 W (CITY OR TOWN) (STATE wC) Las Brisas Builders Inc 5790400187 U0 (CUSTOMER NAME) Ii'.I1ti7;1MER YUMBER) } � Nineteen Thousand Dollars and No/100 DOLLARS $*19, 000. 00* F- �j HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK & TRUST PAYABLE TO CitV Of Fresno .. OR ORDER UPON MATURITY Q Ol AS HEREINAFTER SPECIFIED AND UPON PRESENTATION AND SURRENDER OFTHIS CERTIFICATE PROPERLY ENDORSED ATTHEABOVE OFFICE 4 F- THE MATURITY OFTHIS CERTIFICATE WILL BE -AFTER DATE,AND SUCH MATURITY WILL BE AUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS 0 UNLESS:(A)AT LEAST TEN DAYS PRIOR TO SUCH ORIGINAL OR ANY EXTENDED MATURITY,THIS BANK HAS SENT WRITTEN NOTICE TO THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON ITS Z RECORDS OF BANK'S ELECTION TO PAY THE DEPOSIT AT SUCH ORIGINAL OR ANY EXTENDED MATURITY.OR (B) UPON OR WITHIN TEN DAYS AFTER SUCH ORIGINAL OR ANY EXTENDED MATURITY DATE,THIS CERTIFICATE IS PRESENTED AND SURRENDERED FOR PAYMENT SAID DEPOSIT BEARS SIMPLE INTEREST AT THE RATE OF D .05 1e',e PER ANNUM FROM DATE HEREOF UNTIL ULTIMATE MATURITY,AS ABOVE PROVIDED,AND SUCH INTEREST WILL I BE PAID OR CREDITED AT EACH SUCCESSIVE MATURITY DATE IN ACCORDANCE WITH THE WRITTEN L INSTRUCTIONS OF THE PAYEE OR OTHER HOLDER THEN DESIGNATED ON THE RECORDS OF THIS N — l�' 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(05/09) i' California Bank &Trust Assemi Group, Inc 7060 N. Fresno 11-204/1210 1396 W. Herndon Ave., #101 Fresno, CA 93720 Fresno, CA 93711 Date Check Number Aug 10, 2017 22-00085787 Amount Pay *Two Hundred Seventy Two Thousand Twenty Three Dollars 04 Cents* $272,023.04 IPe VG oup, Inc To City of Fresno The 2600 Fresno Street Order Fresno, CA 93721-5017 Of PAYABLE IN US DOLLARS 1160008 5 78 7111 I:.L. 100 204 21: 5 74 111 ia094115 California Bank &Trust Assemi Group, Inc 7060 N. Fresno 11-204/1210 1396 W. Herndon Ave., #101 Fresno, CA 93720 Fresno, CA 93711 Date Check Number Jul 20, 2017 22-00085288 Amount Pay *Five Thousand Five Hundred Seventy Two Dollars 00 Cents* $5.572.00 Assemi Gjoy{7, Inc To City of Fresno The 2600 Fresno Street Per + Order Fresno, CA 93721-5017 Of PAYABLE IN US DOLLARS M1111169, .7,17417:19-1 IgNeco'llir�N-13 IIdU00a S 2861151. 1 d ik 0 U 2 U Li d 1: II Account Number: 5 7 9 0 4 0 01 8 7 Security Amount: $19,000 ASSIGNMENT (Subdivision Agreement) T SECURITY FOR: LAS BRISAS BUILDERS INC 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 $19,000 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 6099—Las Brisas Builders Inc.-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 20`h day of July 52017 LAS BRISAS BUILDERS INC a California Corporation By: Darius Assemt? nior Vice re ident 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 2 0 th day of July ,2017 California Bank&Trust, 7060 N.Fresno Street Fresno,CA 93720 Bank Name Branch Location City State BaA%"WW_ Name Title of Officer Amanda Shoemake, AVP & CSM