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HomeMy WebLinkAboutRelease Security - T36554 - Pearwood Venturesl CITY OF PALM DESERT PUBLIC WORKS DEPARTMENT STAFF REPORT REQUEST: RELEASE MAINTENANCE SECURITY FOR TRACT 36554 SUBMITTED BY: Mark Greenwood, P.E., Director of Public Works APPLICANT: Pearwood Ventures, LLC Stuart Chelin 77682 Country Club Drive, Suite A3 Palm Desert, CA 92211 SureTec c/o Pinnacle Surety 151 Kalmus Drive, Suite A201 Costa Mesa, CA 92626 BOND NUMBER: 4392981 M DATE: July 14, 2016 CONTENTS: Maintenance Bond Vicinity Map Recommendation By Minute Motion, release the maintenance bond for improvements for Tract 36554. Background The subject property is located at Shepherd Lane and Encore Lane. A faithful performance and Labor and Materials bond was originally posted at the time of permit issuance for the construction of off -site improvements. City Council approved the release of these bonds and the acceptance of a one-year maintenance bond July 9, 2015. Staff has recently re -inspected this project to insure that all improvements remain as they were originally accepted in 2015. The one-year maintenance period is now Staff Report Release Security for TR 36554 July 14, 2016 Page 2 of 2 complete and staff recommends that City Council authorize the release of the maintenance obligation. Fiscal Analysis There is no fiscal impact associated with this action. Prepared By: Christina Canales, Assistant Engineer Ja et . Moore, Director of Finance Approval: V J4i McCarthy, Interim Q4 anager Department Head: Mark Greenwood P.E., Director of Public Works MAINTENANCE BOND BOND NO.: 4392981M Premium included in Performance Bond KNOW ALL MEN BY THESE PRESEN'l S: THAT we. Pearwood Ventures LLC , as Principal, and SureTec Insurance Company a corporation organized and doing business under and by virtue of the laws of the State of Texas and duly licensed to conduct surety business in the State of California, as Surety, are held and firmly bound unto Citv of Palm Desert as Obligce, in the sum of thirty one thousand two hundred thirty eight & 00/100 (S 31,238.00 ) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and successors, jointly and severally firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: WHEREAS, the above named Principal entered into an agreement or agreements with said Obligee to: Subdivision Map of Tract No. 36554 WHEREAS, said agreement provided that Principal shall guarantee replacement and repair of improvements as described therein for a period of one year following final acceptance of said improvements; NOW, THEREFORE, if the above Principal shall indemnify the Obligee for all loss that Obligee may sustain by reason of any defective materials or workmanship which become apparent during the period of one year from and after acceptance of the said improvements by Obligec, then this obligation shall be void; otherwise to remain to full force and effect IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate scat and the name of the said Surety is hereto affixed and attested by its duly authorized Anomey-in-Fact this 23rd day of June Pearwood Ventu C Principal 20t5 YEAR SureTec Insurance Company 13Y -- Step 7 oang, Attorney to Fuct 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 ^ _�1 �34 �s before me, J V. Copeland _ _ , Notary Public, personally appeared _ Stephanie Hoang Naine(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) i%hosc names) is/are subscribed to the within instrument and acknowledged to me that he/she/thrr executed the same in his/her/their authorized capacity(ies), and that b� 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 V. COPELAND Commission * 2046542 �+ Notary Public - California z Orange County My Comm. Expires Oct 24, 2017 Place Notary Seal Above I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS v h4andfficial seal. Signaturere of Notary Public 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 Pa es 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 ❑ Individual ❑ Corporate Officer - Title(s) _ _ ❑ Corporate Officer - Title(s) ❑ Partner: ❑Limited ❑ 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 iY 510006 SureTec Insurance Company LMTED POWER OF ATTORNEY Know AU 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 101311 ors 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 Via -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 Attomey(s)-in-Fad to represent and ad for and on behalf of the Company subject to the following provisions: Attorneydn-Foct 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, recognizances, 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 scaled 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 facsimile, and any power of attorney or certificate hearing facsimile signature err hcsimile seal shall be valid and binding upon the Company with respect to any bond or undertaking to which it is attached. (Adopted at a meeting held on 20* ojAprit, 1999) In Wlthess Whereof, SURETEC INSURANCE COMPANY has caused these presents to be signed by its President, and its corporate seal to be hereto affixed this 21 st day of March, A.D. 2013. SoRAHCF SURETEC INSURANCE COMPANY O w° X 9 °; BY; ✓' w e, j John ox Jr�resident State of Texas ss: �� County of lierris On tubs 21st day cf Match, A.D. 2013 before me personally came John Knox Jr., to me known, who, being by me duly sworn, did depose and say, that be resider in Houston, Texas, that he is President of SURETEC INSURANCE COMPANY, the company described in and which executed the above instrument; that he ]mows th► seal of said Company, that the seal affixed to said instrument is such corporate seal; that it was so affixed by order of the Board of Duecicas of said Company, and that be signed his name thereto by like order. JACOUELYN "MONADO Notary Pubic State of Tun (IVA a my Comm. Fx0. 511&QO17 Jacq elyn Maldonado, Notary Public My commission expires May 18, 2017 1, 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 frill 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 day of , AD. ABre Beaty, �Asisistantecretary 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) 912-0800 any business day between 8:00 am and 6:00 pm CST. 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 _�1z;U LD-r ) On. .2,9 before me, Lvtz; J- ealsor* Yi "ro,&v L-._RLi�_ Date Here Insert Name and Title of the Officer personally appeared 5 &eVA.7- _� H,-A-1'r, NameX of Signe9X who proved to me on the basis of satisfactory evidence to be the personK whose nameg is/4P6 subscribed to the within instrument and acknowledged to me that he/sp(e/tf* executed the same in his/ht/th@fr authorized capacity(io, and that by his/haer/th4ir signature(4 on the instrument the person(ST, 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 Califomia that the foregoing paragraph is true and correct. LORI J. CA801 Commlasion # 2085473 Notary Public - Caaifomis filwnlda Cowdy My Comm. Exolms Oct 17 20181 Place Notary Seal Above WITNESS my hand and official seal. Signature Sig ature of Notary Public 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 Typeof Document:�1�r� r1 - !V34Z9flnj. Document Date: ���-; -- Number of Pages: ,a3- __ Signer(s) Other Than Named Above: Capacity(ie,46 Claimed by Signerx Signer's Name:. Corporate Officer — Title(s): Partner — Limited General Individual Attorney in Fact Trustee Guardian or Conservator Other: Signer Is Representing: _ •.. --���_ Signer's Name: Corporate Officer — Title(s): Partner — Limited General Individual Attorney in Fact Trustee Guardian or Conservator Other: Signer Is Representing: .r..www.ww..�.,."ww,.�.w,.n.•wu.:.n. ur.w,.w,wwwwww,w.n.ww,�.wwwwww..l:w.ww.rn.wvn.,wwyn.,n.. ©2014 National Notary Association • www.NationalNotary.org - 1-800-US NOTARY (1-800-876-6827) Item i15907 TRACT 36554 H us z a APN:594300014 APN:694300015 F Cls House#: House#:0 0 a cc °a K o. r`40 41 APN:fi94300015 ' House#: 0 APN:694300014 House#: 0�- +r APN: RW House#: 0 CPLyLGE DRLV� --0 • APN: 69433101 9TRACT 36554 , y S House#:0 �I APN: RW House#: 0 "w t it 2 a. a� w x a fu x. rn f r F A , x su O r 0 'w COSMOPOLITAN LA iHL -- �— ANASiACIA LANE • +r r • k, -- - Legend 1:1,388 Circulation Network — Streets City Boundary ❑ Parcels (04/2015) Notes 2013 ■ Red: Band_ Green: Band-2 ■ Blue: Band-3