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Home My WebLink About10S Release Security - T30025 World DevelopmentCITY OF PALM DESERT PUBLIC WORKS DEPARTMENT STAFF REPORT REQUEST: Release Improvement Security for Tract 30025 and Accept the 10% Maintenance Bond SUBMITTED BY: Mark Greenwood, City Engineer APPLICANT: World Development BONDING COMPANY: 44-600 Village Court Developers Surety and Indemnity Company Palm Desert, CA 92260 P.O. Box 92623 Irvine, CA 92623 DATE: April 8, 2004 CONTENTS: 10% Maintenance Bond in the amount of $31,809.00 Vicinity Map Recommendation: By minute motion, authorize the City Clerk to release the subject improvement security for Tract 30025 in the amount of $477,135.00 and accept the 10% maintenance bond in the amount of $31,809.00. Discussion: The above -referenced tract is located north of Frank Sinatra Drive and west of Portola Avenue and is known as Petunia Place East and Petunia Place West. At the time of grading permit issuance, the subject security was posted with the City for the grading operation. All grading work and public improvements have been completed in accordance with the approved plans and have been inspected by the Public Works staff and found to be acceptable. The normal one-year maintenance bond has been submitted in the amount of 10% of the Faithful Performance bond amount. Public Works staff recommends the City Council accept the work as complete and authorize release of the subject security and accept the 10% maintenance bond. Sub Mark Greenwood, P.E. City Engineer Approval: AC :r Develop ;;.a t Services MG:SJ/sd Michael Errante, P.E. Director of Public Works G:\PubWorks\Staff Reports120041April 8\release Tr 30025.wpd CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of Califomia SS. County of R1V IEQSI Dtr On SEPPEM$EQ 5, 20Q3 before me, FZEk- i • SIERRA Name and Tale of Officer (e.g.. 'Jane Doe, Notary Public`) Date personally appeared SC0ir S"rOV. HAZEL IVY SIERRA Commission # 1382942 ^ criter.;;_ Notary Public - California e`/ Riverside County My Comm. Expires Nov 2, 2006 OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another 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 Signer's Name: ❑ Individual L7 Corporate Officer — Title(s): 17 Partner — C Limited General C Attorney -in -Fact C Trustee .- Guardian or Conservator Other: Signer Is Representing: RIGHT THUMBPRINT OF SIGNER Top 0' thOrrb here Name(s) of Signer(s) rsonally known to me 17 proved to me on the basis of satisfactory evidence to be the persons whose nameA is/are- subscribed to the within instrument and acknowledged to me that he/sk>'e/they-executed the same in his/I 414;i .. authorized capacity,(ies), and that by hisAe fheit signature,K on the instrument the person( or the entity upon behalf of which the personker acted, executed the instrument. WITNESS and and official seal. •• Signature at Notary Public (• f• eri`eq: r7�r-� ✓� `7r7ti `J':KA76�y'.4✓S : eir‹,gY'8'5 eAre7r,e%',€,< 1999 National Notary Association • 9350 De Soto Ave., P.O. Box 2402 • Chaswath, CA 91313.2402 • www.nationalnotary.org Prod. No. 5907 Reorder. Call Toll -Free 1-800-876-6827 STATE OF CALIFORNIA } COUNTY OF RIVERSIDE ON q`6)42. , BEFORE ME, LUIS GARCIA, Notary Public PERSONALLY APPEARED: DIANE M. NIELSEN Capacity Claimed By Signer(s): ( ) Individual(s) ( ) Corporate ( ) Partner(s) (X) Attorney In Fact ( ) Trustee(s) ( ) Guardian/Conservator ( ) Other: Personally known to me (or proved to me on the basis of satisfactory evidence) to be the person (s) whose name (s) is/are subscribed to the within instrument & acknowledged to me that he/she/they executed the same in his/her/their authorized capacity (ies), and that by his/her/their signatures (s) on the instrument the person (s), or the entity upon behalf of which the person (s) acted, executed the instrument. WITNESS my hand and official seal. Signature: LUIS GARCIA #?� Commission # 1310163 yy Notary Public - California '". Riverside County My Comm. Erpires Jul 20, 2005I ALL PURPOSE ACKNOWLEDGMENT POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO BOX 19725, IRVINE. CA 92623 • (949) 263-3300 KNOW ALL MEN 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: ***Paul W. Lewis, Ann Willard, Diane M. Nielsen, Van G. Tanner, Matt Costello, Jeanette McCulloch, jointly or severally*** as their true and lawful Attorneys) -in -Fact. 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)-in-Fact full power and authority to do and to perform every act 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 acts of said Attorney(s)-in-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 Board of Directors of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA. effective as of November I. 20(10: RESOLVED, that the Chairman of the Board. the President and any Vice President of the corporation be. and that each of them hereby is. authorized to execute Powers of Attorney, qualifying the attorney(s) named in the Powers of Attorney to execute. on behalf of the corporations. bonds. undertakings and contracts of suretyship: and that the Secretary or any Assistant Secretary 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 such officers may he affixed to any such Power of Attorney or to any certificate relating thereto by facsimile, and any such Power of Attorney or certificate hearing such facsimile signatures shall be valid and binding upon the corporation when so affixed and in the 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 Executive Vice President and attested by their respective Secretary this S"' day of January. 2(1(12. By: Bv: David H. Rhodes, Executive Vice President Walter A. Crowell. Secretary STATE OF CALIFORNIA )SS. COUNTY OF ORANGE On January S, 2002. before me, Antonio Alvarado. personally appeared David H. Rhodes and Walter A. Crowell. personally known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the entity upon behalf of which the nersons acted. executed the instrument. WITNESS my hand and official seal. Signature CERTIFICATE ANTONIO ALVARADO 6 p COMM. # 1300303 2 Notary Public - California F, ORANGE COUNTY My Comm Expires APRIL 10, 20051 The undersigned. as Chief Operating Officer of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA. does hereby certify that the foregoing Power 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 corporations set forth in the Power of Attorney, are in force as of the date of this Certificate. By This Certificate is executed in the City of Irvine. California. the 5th day of September 2003 David G. Lane, Chief Operating Officer 1D-1380 (01/02) DISCLOSURE RIDER Terrorism Risk Insurance Act of 2002 The Terrorism Risk Insurance Act of 2002 created a three-year program under which the Federal Government will share in the payment of covered losses caused by certain events of international terrorism. The Act requires that we notify you of certain components of the Act, and the effect, if any, the Act will have on the premium charged for this bond. Under this program, the Federal Government will cover 90% of the amount of covered losses caused by certified acts of terrorism, as defined by the Act. The coverage is available only when aggregate losses resulting from a certified act of terrorism exceed $5,000,000.00. Insurance carriers must also meet a variable deductible established by the Act. The Act also establishes a cap of $1,000,000,000.00 for which the Federal Government or an insurer can be responsible. Participation in the program is mandatory for specified lines of property and casualty insurance, including surety insurance. The Act does not, however, result in any change in coverage under the attached bond. No additional premium has been charged for the terrorism coverage required by the Act. Insco Insurance Services, Inc. Underwriting Manager for. Developers Surety and Indemnity Company 0 Indemnity Company of California 17780 Fitch Irvine, CA 92614 (949) 263 3300 www.incodico.com GERALD FORD DRIVE w SITE Z Q Tract 30025 Petunia P1. East & Petunia PI. West FRANK SINATRA w Z w DRIVE F- w w cc H -J 0 H 0 VICINITY MAP N.T.S. 0 0