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HomeMy WebLinkAboutRelease - T34391 - KB HomeCITY OF PALM DESERT PUBLIC WORKS DEPARTMENT STAFF REPORT REQUEST: RELEASE SECURITY FOR TRACT 34391 SUBMITTED BY: Mark Greenwood, P.E., Director of Public Works APPLICANTS: KB Home, Southern California 36310 Inland Valley Drive Wildomar, CA qa5 ci� s Continental Insurance Company Attention: Jere Keprios C/O Ct Corporation System 818 West 7th Street Los Angeles, CA 90017 BOND NUMBER: 58673025 DATE: October 22, 2015 CONTENTS: Agreement and Bonds Vicinity Map Recommendation By Minute Motion, release security for Tract 34391. Background The subject property is located at Shepherd Lane and Kingston Court. In October of 2014 City Council approved the reduction of the faithful performance and labor and materials bond to 10% of its amount. The reduced bond was held as a maintenance bond for one year. The one-year maintenance period is now complete. Staff recommends that City Council authorize the release of the maintenance security. Staff Report Release Security for Tract 34391 October 22, 2015 Page 2of2 Fiscal Analysis There is no fiscal impact associated with this action. Prepared By: ah'(-4 Ild Christina Canales, Assistant Engineer ;0//� Paul S. Gibson, Director of Finance .e Joo M. Wohlmuth, City Manager Mark Gd-eIwood, P.E., Director of ublic Works CITY OF PALM DESERT STANDARD FORM SUBDIVISION FAITHFUL PERFORMANCE BOND NAME OF SUBDIVISION: Kingston NAME OF SUBDIVIDER: KB HOME Coastal Inc. NAME OF SURETY: The Continental Insurance Company EFFECTIVE DATE: April 2, 2010 AMOUNT OF BOND: $389,958.00 BOND NUMBER: 58673025 PREMIUM: $1,950.00 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 6 above, for the faithful performance 'of that certain SUBDIVISION IMPROVEMENT AGREEMENT between PRINCIPAL and CITY regarding the subdivision named on Line 1 above, as required by the provision of the Subdivision Map Act and 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 SUBDIVISION IMPROVEMENT AGREEMENT between PRINCIPAL and CITY regarding the subdivision 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 SUBDIVISION IMPROVEMENT 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 SUBDIVISION IMPROVEMENT 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 SUBDIVISION IMPROVEMENT 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. KB HOME Coaslal Inc PRINCIPAL'S SIGNATURE /YJ/C�4�rt16C 1. �/e&6014) 'i2 . PRINT NAME (/P ,CA J*b v-- R-ANN1^/6-- TITLE & COMPANY NAME PRINCIPAUS SIGNATURE PRINT NAME TITLE & COMPANY NAME The Continental Insurance Company SURETY'S SIGNATURE SURETY'S SIGNATURE Maria Pena, Attorney -in -Fact (Notarial acknowledgement of execution by ALL PRINCIPALS and SURETY must be attached.) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of Riverside On April 5. 2010 before me, Richard R. Keller, Notary Public, personally appeared Michael H. Freeman, Jr., who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/afe subscribed to the within instrument and acknowledged to me that he/she/the executed the same in his/Med#t& authorized capacity(ies), and that by his/hef/th& signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. t Richard R. Keller CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of Los Angeles On April 2, 2010 before me, Tracy Aston, Notary Public, personally appeared Maria Pena, 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 Ise/she/they executed the same in #is/her/thoW authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Corn on A 17 Tracy Aston POWER OF ATTORNEY APPOINTING INDIVIDUAL XI-FORNEY-IN-11AU Know All Men By These Presents, That The Continental Insurance Company, a South Carolina corporation, and Firemen's Insurance Company of Newark,'New Jersey, a New Jersey corporation (herein called "the CIC Companies'), are duly organized and existing corporations having their principal offices in the City of Chicago, and State of Illinois, and that they do by virtue of the signatures and seals herein affixed hereby make, constitute and appoint Maria Pena, Edward C Spector, Lisa L Thornton, Tracy Aston, C K Nakamura, E S Albrecht, Jr, Tom Branagan, Clarice Lee, Marina Tapia, Joyce Herrin, Individually of Los Angeles, CA, their true and lawful Attomey(s)-in-Fact with full power and authority hereby conferred to sign, seal and execute for and on their behalf bonds, undertakings and other obligatory instruments of similar nature - In Unlimited Amounts - and to bind than thereby as fully and to the same extent as if such instruments were signed by a duly authorized officer of their corporations and all the acts of said Attorney, pursuant to the authority hereby given is hereby ratified and confirmed. This Power of Attorney is made and executed pursuant to and by authority of the By -Law and Resolutions, printed on the reverse hereof, duly adopted, as indicated, by the Boards of Directors of the corporations. In Witness Whereof, the CIC Companies have caused these presents to be signed by their Senior Vice President and their corporate seals to be hereto affixed on this 13 th day of April, 2004. The Continental Insurance Company Firemen's Insurance Company of Newark, New Jersey Michael Gengler Senior Ylce President State of Illinois, County of Cook, ss: On this 13th day of April, 2004, before me personally came Michael Gengler to me known, who, being by me duly swom, did depose and say: that he resides in the City of Chicago, State of Illinois; that he is a Senior Vice President of The Continental Insurance Company, a South Carolina corporation, and Firemen's Insurance Company of Newark, New Jersey, a New Jersey corporation described in and which executed the above instrument; that he knows the seals of said corporations; that the seals affixed to the said instrument are such corporate seals; that they were so affixed pursuant to authority given by the Boards of Directors of said corporations and that he signed his name thereto pursuant to like authority, and acknowledges same to be the act and deed of said corporations. OFFICIAL SEAL EI.IZA PRICE NorwWwwtn.aae a. uaaM w 0080"alm GIRRM am?",] zo My Commission Expires September 17, 2006 Eliza Price Notary Public CERTIFICATE 1, Mary A. Ribikawskis, Assistant Secretary of The Continental Insurance Company, a South Carolina corporation, and Firemen's Insurance Company of Newark, New Jersey, a New Jersey corporation do hereby certify that the Power of Attorney herein above set forth is still in force, and further certify that the By -Law and Resolution of the Board of Directors of the corporations printed on the reverse hereof is still in force. In testimony wlIe,IFo6I have hereunto subscribed my name and affixed the seal of the said corporations this 2nd day of April The Continental Insurance Company Firemen's Insurance Company of Newark, New Jersey Q—tYU41 a— (02�t�g- Mary A. ika Assistant Secretary Form F6850-11/2001 CITY OF PALM DESERT STANDARD FORM SUBDIVISION PAYMENT BOND (LABOR & MATERIALS) NAME OF SUBDIVISION: Kingston NAME OF SUBDIVIDER: KB HOME Coastal Inc. NAME OF SURETY: The Continental Insurance Company EFFECTIVE DATE: April 21, 2010 AMOUNT OF BOND: $194.979.00 BOND NUMBER: 58673025 PREMIUM: Included in the Faithful Performance Bond KNOW ALL MEN BY THESE PRESENTS: That the person, firm, corporation, entity or otherwise, named on Line 2 of Page 1 hereof without regard to gender and number, hereinafter referred to as PRINCIPAL; and the corporation named on Line 3 of Page 1 hereof, a corporation authorized to do business in the State of Califomia and presently possessed of authority under Title 6 of the United States Code to do business under Section 6 to 13 thereof in the aggregate amounts hereof, hereinafter referred to as SURETY; are jointly and severely held and firmly bound unto and all materialmen, persons, companies or corporations furnishing materials, provisions, provender or other supplies used, in, upon, for or about the performance of the work contracted to be executed or performed under the terms of that certain SUBDIVISIUN IMPROVEMENT AGREEMENT hereinafter mentioned and all persons, companies or corporations renting or hiring teams or implements, or machinery, for contributing to said work to be done, all persons who performed work or labor upon the same, and all persons who supply both work and materials, and whose claim has not been paid by PRINCIPAL in the just and full sum mentioned on Line 5 of Page 1 hereof for the payment whereof, well and truly to be made, said PRINCIPAL and SURETY bind themselves, their heirs, administrators, successors and assigns, jointly and severally, firmly by these presents. THE CONDITION OF THE OBLIGATION is such that whereas the above - bounden PRINCIPAL has entered into a SUBDIVISION IMPROVEMENT AGREEMENT with the City of Palm Desert, a municipal corporation of the State of California, hereinafter referred to as CITY, for the construction of public improvements in the subdivision named on Line 1 of Page 1 hereof, which said SUBDIVISION IMPROVEMENT AGREEMENT is by this reference incorporated herein: NOW, THEREFORE, if the above -bounden PRINCIPAL, contractor, person, company or corporation, or his or its subcontractor or subcontractors, fails to pay for any materials, provisions, provender, or the supplies, or teams used in, upon, for, or about the performance of the work contracted to be done, or for any work or labor done thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to such .work for labor, SURETY on this bond will pay the same, in an amount not exceeding the sum specified in this bond, and also, in case suit is brought on this bond, a reasonable attorney's tee which shall be awarded by the court to the prevailing party in said suit, said attorney's fee to be taxed as costs in said suit and to be included in the judgment therein rendered. This bond is executed and filed to comply with the provisions of the Subdivision Map Act; and all CITY ordinances, resolutions, rules and regulations supplemental thereto; and all amendments thereto; and shall inure to the benefit of any and all materialmen, persons, companies or corporations entitled to file claims under and by virtue of the provisions thF-roof. IN WITNESS WHEREOF, PRINCIPAL AND SURETY have executed this f in5trtiment the date mentioned on Line 4 of Pago 1 hereof. KB 140111E Coastal Inc. PRINCIPAL'•S SIGNATURE PRINT NAME TITLE & COMPANY NAME RING L'S SIGNATURE �ij iCiSIA6 L 11. F26E--WAti Tie' . PRINT NAME (/P ZA 04b ,F- Fo R w R 10 f c,A V,41iA6- TITLE & COMPANY NAME The Continental Insurance Company SURETY'S SIGNATURE SURETY'S SIGNATURE Maria Pena, Attorney -in -Fact (Notarial acknowledgement of execution by ALL PRINCIPALS and SURETY must be attached.) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of Riverside On April 5. 2010 before me, Richard R. Keller, Notary Public, personally appeared Michael H. Freeman. Jr., 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/bedth& authorized capacity(ies), and that by his/her/th& signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. y Richard R. Keller CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of Los Angeles On April 2, 2010 before me, Tracy Aston, Notary Public, personally appeared Maria Pena, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(&) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in Ws/her/their authorized capacity(ies), and that by bis/her/thei•r signature(&) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 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. TRACy ASTON ° Commission # 1739959 Notary Public Caiifornla Los Angeles County CiesNby15,2011 t Tracy Aston POWER OF ATTORNEY APPOINTING INDIVIDUAL A'1-1'UXJ4ZY-11wrAt-1 Know All Men By These Presents, Mat nc Continental Insurance Company, a South Carolina corporation, and Firemen's Insurance Company of Newark, New Jersey, a New Jersey corporation (herein called "the CIC Companies'), are duly organized and existing corporations having their principal eftiices in the City of Chicago, and State of Illinois, and that they do by virtue of the signatures and seals herein affixed hereby make, constitute and appoint Maria Pena, Edward C Spector, Lisa L Thornton, Tracy Aston, C K Nakamura, E S Albrecht, Jr, Tom Branigan, Clarice Lee, Marina Tapia, Joyce Herrin, Individually of Los Angeles, CA, their true and lawful Attorneys) -in -Fact with full power and authority hereby conferred to sign, seal and execute for and on their behalf bonds, undertakings and other obligatory instruments of similar nature - In Unlimited Amounts - and to bind them thereby as fully and to the same extent as if such instruments were signed by a duly authorized offiaa of their corporations and all the acts of said Attorney, pursuant to the authority hereby given is hereby ratified and confirmed. This Power of Attorney is made and executed pursuant to and by authority of the By -Law and Resolutions, printed on the reverse hereof, duly adopted, as indicated, by the Boards of Directors of the corporations. In witness Whereof, the CIC Companies have caused these presents to be signed by their Senior Via President and their corporate seals to be hereto affixed on this 13th day of April, 2004. The Continental Insurance Company Firemen's Insurance Company of Newark, New Jersey Michael Gengler SeniorYlce President State of Illinois, County of Cook, ss: On this 13th day of April, 2004, before the personally came Michael Gengler to me known, who, being by me duly sworn, did depose and say: that he resides in the City of Chicago, State of Illinois; that he is a Senior Vice President of The Continental insurance Company, a South Carolina corporation, and Firemen's Insurance Company of Newark, New Jersey, a New Jersey corporation described in and which executed the above instrument; that he knows the seals of said corporations; that the seals affixed to the said instrument are such corporate seals; that they were so affixed pursuant to authority given by the Boards of Directors of said corporations and that he signed his name thereto pursuant to like authority, and acknowledges same to be the act and deed of said corporations. ------------ ------------------------- OFFICIAL SEAL ELIZA PRICE wmiwr rusuo, area os sasion w courwow a way wnm. My Commission Expires September 17, 2006 Eliza Price Notary Public CERTIFICATE I, Mary A. Ribikawskis, Assistant Secretary of The Continental Insurance Company, a South Carolina corporation, and Firemen's Insurance Company of Newark, New Jersey, a New Jersey corporation do hereby certify that the Power of Attorney herein above set forth is still in force, and further certify that the By -Law and Resolution of the Board of Directors of the corporations printed on the reverse hereof is still in force. In testimony w1OI have hereunto subscribed my name and affixed the seal of the said corporations this 2nd day of April The Continental Insurance Company Firemen's Insurance Company of Newark, New Jersey Form F6850-11/2001 Company Profile Page 1 of 2 Company Profile CONTINENTAL INSURANCE COMPANY (THE) CNA 333 S. WABASH, 28TH FL. CHICAGO, IL 60685 800-262-4554 Agent for Service of Process JERE KEPRIOS, C/O CT CORPORATION SYSTEM 818 WEST SEVENTH STREET, 2ND FLOOR LOS ANGELES, CA 90017 JERE KEPRIOS, C/O CT CORPORATION SYSTEM 818 WEST SEVENTH ST LOS ANGELES, CA 90017 Unable to Locate the_Agent for Service of Process? Reference Information NAIC #: 35289 NAIC Group #: 0218 California Company ID #: 2270-7 Date authorized in California: January 01, 1978 License Status: UNLIMITED -NORMAL Company Type: Property & Casualty State of Domicile: PENNSYLVANIA Lines of Insurance Authorized to Transact The company is authorized to transact business within these lines of insurance. For an explanation of any of these terms, please refer to the glossary. AIRCRAFT AUTOMOBILE BOILER AND MACHINERY BURGLARY COMMON CARRIER LIABILITY CREDIT DISABILITY FIRE LIABILITY MARINE httn•//intPrartivP wPh inciirnnrP ra vnv/wPhwzpr/idh rn nrnf wl apt rn nrnf7n FI11=60OR d/7001 0 Company Profile Page 2 of 2 MISCELLANEOUS PLATE GLASS SPRINKLER SURETY TEAM AND VEHICLE WORKERS' COMPENSATION Company Complaint Information Con_pany Enforcement Action.Documents Compaii+ Performance &.Comparison Data Composite Complaint Studies Want More? Help Me Find a Compan Representative in MI, Area Financial Rating Organizations Last Revised - June 26, 2009 05:53 PM Copyright © California Department of Insurance httn•//intPrartivP we.h im-,wanre. ra onv/wehiicPr/idh rn nrnf w] Pet rn nrnf?n FID=6009 4/7/2010 ITRACT 34391-IMPERIAL COURT — CWculation Network ® Gty Boundary City Boundary Streets ❑ Parcels (712014) 1: 3.381 O Notes