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HomeMy WebLinkAboutT-6110 - Cashier Memo - 8/24/2017 City of MEMORANDUM rn=w� # PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: August 24, 2017 TO: YOLANDA SMITH Public Works Department FROM: JONATHAN BARTEL Public Works Department SUBJECT: SUBMITTAL OF PAYMENT FOR TRACT NO. 6110 THE FOLLOWING ITEMS ARE SUBMITTED FOR PROCESSING. 1. Performance Bond in the amount of$546,000.00 2. Payment Bond in the amount of$287,500.00 3. 5% Performance Security a. Certificate of Deposit in the amount of$29,000.00 (California Bank&Trust) 4. The Balance on Exhibit B of the Subdivision Agreement a. Check in the amount of$365,088.73 (California Bank &Trust No. 22-00086101) 5. Document preparation fees deposit into 180203 10101 34559 a. Check in the amount of$7,760.00 (California Bank &Trust No. 22-00085899) 6. Copy of the Subdivision Agreement identifying itemized applicable charges. If you have any questions, please contact me at 621-8684. Thank you Jonatha Bartel "y°' MEMO"NDVM I -"I---:.. kpii PUBLIC WORKS DEPARTMENT LAND DIVISION 2600 FRESNO STREET FRESNO,CA 93721 DATE: August 23, 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. 6110 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: $546,000.00 2 Payment Bond in the amount of: $287,500.00 If you have any questions, please contact me at 621-8684. Thank you, Jonathan artel RISK M NAGOONT CIVISIBN Approved C App ved w/Clea IS L] AUG 2 3 2017 slg Bond No.• 705916S Premium: $2,730 SUBDIVISION IMPROVEMENT PERFORMANCE BOND Whereas, the City Council of the City of Fresno, State of California, and Fowler Development Company, Inc. ("principal") will be entering into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, identified as Subdivision Agreement for the Final Map of Tract No. 6110 is hereby referred to and made a part hereof; and . Whereas, principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and Developers Surety and Indemnity Company as surety, are held and firmly bound unto the City of Fresno ("City"), in the penal sum of Five Hundred Forty Six Thousand and 00/100 dollars ($ 546,000 } 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 August 23 , 2017 Principal: Fowler Development Company, Inc. By: (Principal) `An ) Surety:_Developers Surety and Indemnity Company N By:_ (Surety) K e Wilson,Attorney-in-Fact 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 August 23, 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 BAGETAKOS NotaryPublic-California WITNESS my hand and official seal. Fresno County Commission#2200014 My Comm.Expires Jun 3,2021 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-[CW 24(7/00) POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO Box 19725,IRVINE,CA 92623 (949)2633300 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 Attomey(s)-fn-Fact,to make,execute,deliver and acknowledge,for and on behalf of said eorporafim,as sureties,bonds,undertakings and contracts of suretyship giving and granting unto said Attaney(sWact full power and authority to do and to perform every ad necessary,requisite or proper to be dorm in connection therewith as each of said corporations could do,but reserving to each of said corporation full power of substitution and revocation,and all of the ads of said Abomey(s)In•Fad,pursuant to these presents,are hereby ratified and confirmed. This Payer 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 Yoe-President,Senior Vice-president or any Vice Preeident of the corporations be,and that each of them hereby is,authorized to execute this Power of Attorney,qualifying the attomey(s)named m the Paver of Attorney to execute,on behalf of the corporations,bonds,underteldngs and contracts of suretyship;and that the Secretary or any Assistant Secretary of ef8mer of the corporations be,and each of them hereby is,authorized to attest the execution of any such Power of Attomey; RESOLVED,FURTHER that the signatures of such officers may be affixed to any such Power of Attorney or to any certificate relating 0nareto by facsimile,and any such Power of Attorney orcertilxate bearing such facsimile signatures shall be valid and binding upon the oaporaW when so affixed and In the future wtth rasped to any bond,undertaking or contract of suretyship to which it is attached. IN WITNESS WHEREOF,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA have severally caused these presents to be signed by their respective officers andel attested bytheirrespective Secretary orAsdsknt Secretary Ids 6th day of February,2017. By. ASO PANY6 Daniel Young,Senor Vice-President tee '- ���'4 PQOA pr�r i 1936 1 CT.5 ° ea } o i 1967 By, Mark Lansdocm,Vco-President �•., + r �� r41poP�, A notary public or other officer completing this certificate verMes only the Identity of the Individual who signed the document to which We certificate Is attached,and not fie truthfulness,accuracy,or valldi mnt of that docue Sft of California County of Orange On February 6.2017 before me, LucilleFta]mrnrogd,Hola,LLPuNic Dab K .waerr:aad7aasaemr peiswelly appeared Daniel Young and Mark Landon Ma Ours4-tis) who proved to me on the basis of satisfertory evidence to be the persin(s)whose names)islare subscribed to the within instrument and admowle%ed to me that helehelthey executed the same in hislherltheir authorized capecuT ms),and that by his/hedtheir signature(s)on the instrument the person(s),or the entity upon behalf of LUCILLE RAYMOND which the persan(s)acted executed the instrument ComnWaton#2091915 Mourn Ptubtic•Cghmia I certify under PENALTY OF PERJURY under the laws of the State of Caldanfa that the foregoing paragraph is Orange County true and oonect. M Comm. if"Oct 13 2019~ WITNESS my hand and official seal. Place Notary Seal Above Signature LU cilvoykon d.Notary Public CERTIFICATE The undersigned as Secretary or Assistant Secretary of DEVELOPERS SURETY AND INDEMNITY COMPANY or INDEMNITY COMPANY OF CALIFORNIA,does hereby certify that the foregoing Paver of Attorney remains in full force and has no beam revaeed and,furthermore,that the provisions of the resolutions of the respective Boards of Dlre*m of said corporations set forth In the Power of Aftomey are In foram as of the dale of this Certificate. This Certificate Is executed In the City of Wne,California,this 23rd day of August ,2017. •''k.r AND rN•a y Q��PAN r o� BY1. _ _ = 193 cassle J, sford,Assistant tory ,y p��.. e+r Tl Ir PN, ATS-1002(02/17) ''ry,+H �''��,', CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE§ 1189 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. I State of California ) County of Ecesin a } On 9—_�2 3-I before me, — + i c-, Date ere Insert NamfQud Title of the Officer personally appeared Name(4 of Signer(o who proved to me on the basis of satisfactory evidence to be the person(% whose namel) is/,am subscribed to the within instrument and acknowledged to me that he/fey executed the same in his/her/their authorized capacity(jK and that by hisl;�wAh6r signatureA on the instrument the person(6), or the entity upon behalf of which the person(o 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. $TACY-ANN TERRY-ANN BENTON Commission#E 2100824 WITNESS my hand nd official seal. Nogry Public-California a Fresno County M Comm.Expires Feb 21,2019 4 Signature _ Signature of 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: Signer's Name: ❑Corporate Officer — Title(s): ❑Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Partner — ❑ Limited ❑General ❑ Individual ❑Attorney in Fact ❑ Individual ❑Attorney in Fact ❑Trustee ❑Guardian or Conservator ❑Trustee ❑Guardian or Conservator ❑Other: ❑ Other: Signer Is Representing: Signer Is Representing: 02016 National Notary Association • www.NationalNotary.org • 1-800-US NOTARY(1-800-876-6827) Item#5907 Bond NO.: 705916S Premium: Included SUBDIVISION IMPROVEMENT PAYMENT BOND Whereas, the City Council of the City of Fresno, State of California, and Fowler Development Company, 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. 6110 , 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 Two Hundred Eighty Seven Thousand Five Hundred and 00/100 dollars ($ 287,500 ), 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 _ August 23 , 2017 Principal: Fowler Development Company, Inc. By: (Principa �•C? Surety: Developers Surety and Indemnity Company (Surety) Kyle Wilson,Attorney-in-Fact 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 August 23, 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 BAGETAKOS NotarLaryy Public-California y WITNESS m hand and official seal. Fresno County b Commission N 2200014 My Comm.Expires Jun 3,2021 ���vr•�•rw� rr: 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,Nloole Caskey,Wayne Lamb,jointly or severally'''' as their true and lawful Attomay(s}in•Fact,to make,execute,deltvar and acknowledge,for ancim behaff of said corporations,as sureties,bonds,undertakings and contracts of suretyship giving and granting unto said Altomey(sy n-Fact full parer and authority to do and to perform every act necessary,requislle or proper to be done in ownection there"as each of said vorporations could do,but reserving to each of said corporatom full power of substitution and revocation,and all of the sots of sold Attomey(s)dn•Fact pursuant to these presents,are hereby ratified and confirmed This Power of ANforrey is granted and is signed by facsimile under and by aulhortty of the following resdutions adapted by the respective Boards of Directors of DEVELOPERS SURETY AND INUE MNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,e%Wva as of January 1st,20D8. RESOLVED,that a combination of any two of the Chairmen of the Board,the President,Executive Vioe-President,Senior VicaPresident or any Vice President of the corporations be,and that each of them hereby Is,authorized to execute this Power of Attorney,qualifying the attorney(s)named in the Power of Attorney to execute,on behalf of the carporations,bonds,underthkings and contracts of suretyship;and that the Secretary,or anyAssbtant Secretary of either of the corporations be,and each of them hereby is,authorized to attest the execution of any such Power of Attorney; RESOLVED,FURTHER,that the signatures of each officers may be aifiked to any such Power of Attorney or to any certificate rdatmg thereto by facslmite,and any such Power of Atlomey or certificate bearing such facahile signatures shall be v6d and btnding upon the corporations when so affixed and In the fixture 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 of6oers and attested by their respective Secretary or Assistant Secretary tits 6th day of February,2017. ++1M111�11,1•• AND •yam QV QAN y � Daniel Young,Senior Vice-President '� p4po+�q� c+ OCT.5 e u� te57 By: 4�ar'$ r �i= pt' C r Mark Landon.Vice-PresidentrtrxoAN' A notary public or other officer completing this certificate vertfies only the IdentIty of the Indlvldual who signed the document to which this certificate Is attached,and not the truthfulness,accuracy,or veld ty of that docunmenL State of California County of Orange On Februanp 6 2017 before me, Lucille and N Public oge rtwernarrm..ranmasr astir Personally appeared — _ _ Daniel Yours and Mark Larsdon Nanf4j034-ts) who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s)blare subscribed to the within i sbumarht and admmledged to me flat heMeAhey executed the same In hiallwAheir authorized capadKws),and that by hiLrnerAhetr signature(s)on the instrument the person(s),or the entity upon behalf of LUCILLE RAYMOND which the person(s)acted,executed the instrument Commbtdce*2001915 Notary Pubac•CMROfRIA I certify under PENALTY OF PERJURY under the lays of the State of California that the foregoing paragraph Is rip OrOnOe curdy true and coned ME Comm.EASIM txt 13 20181 WITNESS my hand and official seal Place Notary Seel Above Signature Luci11A nAyAiond,Notary Public UP CERTIFICATE The undersigned,as Secretary orAssistant Secretary of DEVELOPERS SURETY AND INDEMNITY COMPANY or INDEMNITY COMPANY OF CALIFORNIA,does hereby xrtify that the foregoing Poker of Attorney remains in full force and has not been revoked and,furthermore,that the provisions of the resolutions of the respective Boards of Directors of said owporations set forth In the Power of Attorney are in force as of the dale of this Cor ificete. This Certificate Is executed to the City of IrNrhe.California,this 23rd day of August 12017, as...... tiY�oJOgo��"y� �,flMVIA r a �� _Fad � ac'�R Rq Cl By 31936 _ - oci.5 o Cassia J. lcrd,Assistsnl tart' h967 ATS-1002(07117) '•. y+•nln n+++•.+ CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE§ 1189 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 E;TG ► r] ) On -171 before me, - —� - i public, Date Here Insert Name Ad Title of the Officer personally appeared -- �' ,-jt -S A-�S e.tjr Named of Signer(' who proved to me on the basis of satisfactory evidence to be the persono whose name(?) isle subscribed to the within instrument and acknowledged to me that helmsexecuted the same in hist em authorized capacityDerg), and that by his/hertbeirsignature($)on the instrument the person), or the entity upon behalf of which the person acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. STACY ANM T�pBY ANN BENTON WITNESS my Nan and official seal. Cemmlaalon 0 2100824 LIENotary pile.Calgarnla z Fteaso County Signature M Comm.E area Feb 21,2019 Signature of 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(lies) Claimed by Signer(s) Signer's Name: Signer's Name: ❑ Corporate Officer - Title(s): ❑Corporate Officer - Title(s): _ ❑ Partner - ❑ Limited ❑General ❑ Partner - ❑ Limited ❑ General ❑ Individual ❑Attorney in Fact ❑ Individual ❑Attorney in Fact ❑Trustee ❑ Guardian or Conservator ❑Trustee ❑Guardian or Conservator ❑Other: ❑ Other: Signer Is Representing: Signer Is Representing: ' - - - - - - - - -- = x4-�-C.^zcSr-=<•tiG`�x"�k^t;G^G-{:'�4G`�`�7r`{:Fez.'��G'�4:`�'C.'�S:`c:C.'r-_C'�{9�C`r�G^�'ii.`[:�,'t'C't=y`t4.^t"G"�C.''T=i:'uv"�G"�;C.v 020116 National Notary Association •www.NationalNotary.org • 1-800-US NOTARY(1-800-876-6827) Item#5907 8/24/2017 Company Profile CALIFORNIA DEPARTMENT OF INSURANCO COMPANY PROFILE Company Profile Company Search Company Information Company Information DEVELOPERS SURETY AND INDEMNITY COMPANY Old Company 17771 COWAN STE 100 Names IRVINE, CA 92614 Agent for Service Reference Old Company Names Effective Date Information NAIC Group List Lines of Business Agent For Service Workers' KARISSA LOWRY Compensation 2710 GATEWAY OAKS DRIVE Complaint and SUITE 150N Request for SACRAMENTO CA 95833 Action/Appeals Contact Information Financial Statements Reference Information PDF's Annual Statements NAIC #: 12718 Quarterly California Company ID #: 4606-0 1 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://interactive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfile&doFunction=getCompanyProfile&eid=100170 1/2 8/24/2017 Company Profile © 2008 California Department of Insurance https://interactive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfile&doFunction=getCompanyProfile&eid=100170 2/2 8/24/2017 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center A.M. Best Rating Services Developers Surety and Indemnity Company u kW Hess 9;015752 NAIC M:12718 FEIN M 420429710 Mailing Address View Additional Address Information F3i, W Siw1gilh atiitnq P.O.Box 19725 Irvine,CA 92623-9725 nEsr United States A 61 t Assigned to insurance companies that have,in our opinion, an excellent ability to meet their ongoing insurance Web:www.amtrustsurety.com obligations. Phone:949-263-3300 Fax:949-252-1959 View additional news,reoorts 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.Yew a list of operating insurance entities-in this structure. Best's Credit Ratings Financial Strength Rating View 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-Tenn 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 Beds 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,FIRM Disclosure Information G View A.M.Best's Rating Disclosure Form 1(� A,M.Best ReV%es Outlooks to Negative and Affirms C dit Ratings ofAmTrust Finarig at Services.IrIg.arI v February 27,2017 Rating History A.M.Best has provided ratings&analysis on this company since 1996. Financial Strength Rating Effective Date Rating 2/27/2017 A 7/8/2016 A 5/29/2015 A 5/3012014 A 116/2014 A 9/20/2013 A-.j 6/17/2013 A- 5/31/2012 A- Long-Tenn Issuer Credit 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 http://www3.ambest.com/ratings/entities/SearchResults.aspx?AltSrc=9 1/2 8/24/2017 Developers Surety and Indemnity Company-Company Profile-Best's Credit Rating Center 6/17/2013 a- 5/31/2012 a- AMB Credit Reports JZ_ 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). ,yLm Historical Reports are available in AMB Credit Report Archive. View additional news,reoorts and products for this company. Press Releases .Date Title May 25,2017 A.M.Best Comments on Credit Ratings of AmTrusI Finanrsal SE!MCes,Ing and Subsidiaries Following Common Equity Raise Feb 27,2017 A,M.Best Rev i s e s Outlooks to Nerialive and Affirms Credit Ratinos of AmTrust Financial Services,Inc.and its Subsidiaries Jul 08,2016 A.M.Best Affirms Ratinos 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 Ratings of So nigfeld Insurance Company Under Review With Positive Irnulications Jan 08,2014 A M.Best upgrades Ratings of Developers Surety and Indemnity Company and lndemnity Company of California Sep 20,2013 A,M=Best Places Ratings of Developers Surety and Indemnity Company and Indemnity Cornpar)y of California Under Review May 31,2012 A.M.Best Revises Outlook to Negative for DeV8Iopers Surety and In damnit 1 and Its Subsidiary,Indemnity Company of California European Union Disclosures A M.Best-Europe Rating Services Limited(AMBERS),a subsidiary of A.M.Best Rating Services,Inc.,is an External Credit Assessment Institution(ECAI)in the European Union(EU).Therefore,Credit Ratings issued and endorsed by AMBERS may be used for regulatory purposes in the EU as per Directive 2006/48/EC. 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DATE 8/16/2017 w (CITY OR TOWN) (STATE) W0 Fowler Development Company Inc 5790400195 UO GISSTQMFRNAh1E) (CUSTOMER NUMBER) � � TwentyNine Thousand Dollars and No/100********** 29, 000 . 00** DOLLARS $ Lu j HAS TODAY BEEN DEPOSITED WITH CALIFORNIA BANK & TRUST PAYABLE TO Cityof Fres-no OR ORDER UPON MATURITY Q AS HEREINAFTER SPEC IFIFD AND UPON PRESENTATION AND SURRENDER OF THIS CERTIFICATE.PROPERLY ENDORSED AT THE ABOVE OFFICE. A THE MATURITY OF THIS CERTIFICATE WILL BE AFTER DATE,AND SUCH MATURITY WILL BE AUTOMATICALLY EXTENDED FOR SUCCESSIVE LIKE PERIODS w O 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 0-05 9S PER ANNUM FROM DATE HEREOF UNTIL ULTIMATE MATURITY,AS ABOVE PROVIDED.AND SUCH INTEREST WILL RF 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 - l�' BANK.THE RATE OF INTEREST IS SUBJECT TO CHANGE BY BANK WITHOUT NOTICE,TO THE EXTENT NECESSARYTO COMPLY WITH ANY LAW OR GOVERNMENTAL REGULATION AFFECTING THE DEPOSIT, AUTHORIZED SIGNATURE OPS-1(05/09) California Bank &Trust ~,I Assemi Group, Inc 7060 N. Fresno 11-204/1210 1396 W. Herndon Ave., #101 Fresno, CA 93720 Fresno, CA 93711 Date Check Number Aug 23, 2017 22-00086101 Amount Pay *Three Hundred Sixty Five Thousand Eighty Eight Dollars 73 Cents* $365,088.73 Ar sse _ To City of Fresno The 2600 Fresno Street Order Fresno, CA 93721-5017 Per Of PAYABLE IN US DOLLARS ° I 6 THE REVERSE SIDE 0 • r t3 '1 7110 Jou'll Loll. 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 22-00085899 Amount Pay *Seven Thousand Seven Hundred Sixty Dollars 00 Cents* $7,760.00 Assemi Group, Inc To City of Fresno The 2600 Fresno Street Order Fresno, CA 93721-5017 Per Of 1/ PAYABLE IN US DOLLARS lie 000a 5899u■ 1s L 2 L 0 0 20i, 21: 5 79 38 38❑94Ile Account Number: 5 7 9 0 4 0 01 9 5 Security Amount: $29,000 ASSIGNMENT (Subdivision Agreement) SECURITY FOR: FOWLER DEVELOPMENT CO INC. Hereinafter called ASSIGNOR,whose principal place of business is 1396 W.Herndon#101,Fresno,CA 9_3711 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 $29,000.00 _ 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 6110—Fowler Development Co 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 III day of _ August ,2017 Fowler Development Co Inc. a California Corporation By: la " Szpor, ontr er 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 16th day of August ,2017 California Bank&Trust, 7060 N.Fresno Street Fresno,CA 93720 Bank Name Branch Location City State B r y ` Name Title cer Rajdodhi—Layne Branch Manager