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HomeMy WebLinkAboutRelease - PM36792 - PD University Gtwy LLC .J . Q STAFF REPORT CITY OF PALM DESERT PUBLIC WORKS DEPARTMENT MEETING DATE: June 14, 2018 PREPARED BY: Christina Canales, Assistant Engineer C.C. REQUEST: Release bond for Millennium rough grading in the amount of $444,503.00. PM 36792. Recommendation By Minute Motion: 1. Release bond for Millennium rough grading in the amount of $444,503.00. Strategic Plan This action has no impact on the Strategic Plan. Background Analysis The subject property is located at the corner of Gerald Ford Drive and Portola Avenue. At the time of grading permit issuance, bonds for rough grading for parcel map 36792 were submitted to the Public Works Department. The rough grading bond is in the amount of $444,503.00 for Faithful Performance. Rough grading for Millennium is complete. Staff recommends that the City Council authorize the release of the rough grading bond. June 14, 2018 — Staff Report Release bond for Millennium rough grading in the amount of $444,503.00. PM 36792. Page 2 of 2 Fiscal Analysis There is no fiscal impact associated with this action. LEGAL REVIEW DEPT. REVIEW FINANCIAL CITY MANAGER REVIEW N/A imothy R. ones on, P.E. Robert W. Hargreaves Independe t In im Janet Moore Lauri Aylaian City Attorney Director of Public Works Director of Finance City Manager APPLICANT: Palm Desert University Gateway, LLC 30875 Date Palm Drive, Suite C Cathedral City, California 92234 ATTACHMENTS: Grading Bond Vicinity Map CITY OF PALM DESERT STANDARD FORM GRADING FAITHFUL PERFORMANCE BOND DESCRIPTION OF PROPERTY: The Millennium NAME OF GRADER: Palm Desert University Gateway, LLC NAME OF SURETY: SureTec Insurance Company EFFECTIVE DATE: May 28 2015 AMOUNT OF BOND: $444,503.00 BOND NUMBER: 4399816 PREMIUM: $9 390°° KNOW ALL MEN BY THESE PRESENTS: That the person, firm, corporation, entity, or otherwise, named on line 2 above, without regard to gender and number, hereinafter referred to as PRINCIPAL, and the corporation named on Line 3 above, a corporation authorized to do business in the State of California and presently possessed of authority under Title 6 of the United States Code to do business under Sections 6 to 13 thereof, in the aggregate amounts hereof, hereinafter referred to as SURETY, are jointly and severally held and firmly bound unto the City of Palm Desert, a municipal corporation of the State of California, hereinafter referred to as CITY, in the sum mentioned on Line 5 above, for the faithful performance of that certain GRADING ONLY AGREEMENT between PRINCIPAL and CITY regarding the property named on Line 1 above, as required by the provision of the CITY ordinances, resolutions, rules, and regulations, for the payment of which sums well and truly to be made, PRINCIPAL and SURETY hereby bind themselves, their heirs, administrators, executors, successors and assigns, jointly and severally, firmly by these presents. The condition of the foregoing obligation is such that if the said PRINCIPAL shall faithfully perform the covenants, conditions, and agreements contained in that certain GRADING ONLY AGREEMENT between PRINCIPAL and CITY regarding the property named on LINE 1 of Page 1 hereof, which said agreement is by this reference incorporated herein, on its part to be kept and performed, in a manner and form therein specified, and shall furnish material in compliance with the specifications and perform all that certain work and improvement in said CITY which is more particularly described in said GRADING ONLY AGREEMENT, then the obligation with respect to the faithful performance is by this reference incorporated herein. The said SURETY, for value received, hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the GRADING ONLY 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 GRADING ONLY AGREEMENT, the work, the specifications or any feature or item of performance thereunder. In the event it becomes necessary for CITY to bring an action to enforce this bond, SURETY shall pay CITY's reasonable attorney's fees and court costs in connection therewith. IN WITNESS WHEREOF, PRINCIPAL and SURETY have executed this instrument on the date mentioned on Line 4 of Page 1 hereof. PRINCIPAL'S SIGNATURE PRINCIPAL'S SIGNATURE PRINT NAME PRINT NAME ;cute& r-s•ft UAZ.0e.i S Gaiftutar TITLE& COMPANY NAME IAA-TITLE & COMPANY NAME SureTec Insurance Company SURETY'S NAME SURETY SIGN E Stephanie Hoang,Attorney-in-Fact APPROVED AS TO FORM: • DAVID J. ERWIN, CITY ATTORNEY. (Notarial acknowledgement of execution by ALL PRINCIPALS and SURETY must be attached.) 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 Orange ) On q2,1115 before me, V.Copeland ,Notary Public, personally appeared Stephanie Hoang Name(s)of Signer(s) who proved to me on the basis of satisfactory•evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s)acted,executed the instrument. I certify under PENALTY OF PERJURY under the V.COPELAND laws of the State of California that the foregoing 3>`.. Commission t 2046542 paragraph is true and correct. Notary Public-California = / Orange County rr Comm.Ex ices Oct 2&2ot7 WITNES d and ofli 'al seal. Signature . 6 ignature()Notary Pub is Place Notary Seal Above OPTIONAL Though the information below is not required by law,it may prove valuable to persons relying on the document and could present fraudulent and reattachment of this form to another document. Description of Attached Document Type or Title of Document: Document Date: Number of Pages: Signer(s)Other Than Named Above: Capacity(ies)Claimed by Signer(s) Capacity(ies)Claimed by Signer(s) Signer's Name: Stephanie Hoang Signer's Name: ❑ Individual 0 Individual ❑ Corporate Officer—Title(s): _ ❑ Corporate Officer—Title(s): ❑ Partner: ['Limited 0 General ❑ Partner: ❑Limited ❑General ❑ Attorney in Fact ❑ Attorney in Fact ❑ Trustee ❑ Trustee ❑ Guardian or Conservator ❑ Guardian or Conservator ❑ Other: _ ❑ Other. Signer Is Representing: Signer Is Representing: Rev. 1-15 • • POA g: 510006 SureTec Insurance Company LIMITED POWER OF ATTORNEY Know All Men by These Presents, That SURETEC INSURANCE COMPANY (the "Company"), a corporation duly organized and existing under the laws of the State of Texas, and having its principal office in Houston,Harris County,Texas,does by these presents make,constitute and appoint Eric Lowey,Mark Richardson,Stephanie Hoang,Shawn Blume its true and lawful Attorney-in-fact,with full power and authority hereby conferred in its name,place and stead,to execute,acknowledge and deliver any and all bonds,recognizances, undertakings or other instruments or contracts of suretyship to include waivers to the conditions of contracts and consents of surety for. Five Million and 00/100 Dollars($5,000,000.00) and to bind the Company thereby as fully and to the same extent as if such bond were signed by the President,sealed with the corporate seal of the Company and duly attested by its Secretary,hereby ratifying and confirming all that the said Attorney-in-Fact may do in the premises. Said appointment shall continue in force until 1013ir2016 and is made under and by authority of the following resolutions of the Board of Directors of the SureTec Insurance Company: Be it Resolved that the President,any Vice-President,any Assistant Vice-President,any Secretary or any Assistant Secretary shall be and is hereby vested with full power and authority to appoint any one or more suitable persons as Attorneys)-in-Fact to represent and act for and on behalf of the Company subject to the following provisions: Attorney-In-Fact may be given full power and authority for and in the name of and of behalf of the Company,to execute,acknowledge and deliver,any and all bonds,recogakzances,contracts,agreements or indemnity and other conditional or obligatory undertakings and any and all notices and documents canceling or terminating the Company's liability thereunder, and any such instruments so executed by any such Attorney-in-Fact shall be binding upon the Company as if signed by the President and sealed and effected by the Corporate Secretary. Be It Resolved that the signature of any authorized officer and seal of the Company heretofore or hereafter affixed to any power of attorney or any certificate relating thereto by fiusimi ,and any power of attorney or certificate bearing facsimile signature or facsimile seal shall be valid and Ding noon the Company with respect to any bond or undertaking to which it is attached. (Adopted at a meeting held on 20*of April. 1999.) In ii7Atess Ws ereof,SURETEC INSURANCE COMPANY has caused these presents to be signed by its President,and its corporate seal to be hereto affixed this 21st day of March,A.D.2013. ohaNCF SURETEC INSURANCE COMPANY o r 1%\% By: uu� ) John ox Jr. resident State of Texas ss: 1, `- County of Harris On this 21st day of March,A.D.20I3 before me personally came John Knox Jr.,to me known,who,being by me duly sworn,did depose and say,that he resides in Houston, Texas, that he is President of SURETEC INSURANCE COMPANY,the company described in and which executed the above instrument;that be knows the seal of aid Company;that the seal affixed to said instrument is such corporate seal;that it was so affixed by order of the Board of Directors of said Company;and that he signed his name thereto by like order. JACAl1ELYN MNAONADQ Pubic Stan cams ►ry Cann.Epp s/Itaw Jacq elyn Maldonado,Notary Public My commission expires May 18,2017 I,M.Brent Beaty,Assistant Secretary of SURETEC INSURANCE COMPANY,do hereby certify that the above and foregoing is a true and correct copy of a Power of Attorney,executed by said Company,which is still in hill force and effect;and furthermore,the resolutions of the Board of Directors,set out in the Power of Attorney are in full force and effect Given under my band and the seal of said Company at Houston,Texas this 2-•I day of • _ 2L)I 5 A.D. Br t Beaty,Assistant ecretary Any instrument issued In excess of the penalty stated above Is totally void and without any validity. For verification of the authority of this power you may call(713)812.0800 any business day between 8:00 am and 6:00 pm CST. • • ACKNOWLEDGEMENT 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 } } ss. County of Zee ;de } On Mali g R , 20 45- , before me, Kairn 144,i s e✓` , a Notary P lic, personally appeared max dare in. £eJd..0 who proved to me on the basis of satisfactory evidence to be the person(t) whose name(p3 is/ave subscribed to the within instrument and acknowledged to me that he/shelthey executed the same in his/he►itbeir authorized capacity(1024, and that by his/Ng/their signature(1e-on the instrument the person), or the entity upon behalf of which the personf, }-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. � KAREN HnNSEN .�.,:.� Commission 2052600 i 3J Notary Public-California Riverside County Comm.Ex lies Jan 16,2018 Signature 721- N. N c‘i ---JAB,A13Lt--- IN THE CRY OF PALM DESERT,COUNTY OF RIVERSIDE,STATE OF CALIFORNIA SHEET 4 OF 7 SHEETS • En] Ilk u `*; PARCEL MAP NO. 36792 N evsr;f,E_. our,: BEA/G A SUBDMSION OF PORTIONS OF THE SOUTH OW!OF SECTION 28,AND THE l a.1 n-84'5 L[ .4.eT NORTH HALF OF SECTION 33,ALL WHIN TOWNSHIP 4 SOUTH,RANGE 6 EAST,5AN BERNARDINO YERIOTAN. 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