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Home My WebLink AboutRelease Security PM33996 Mountains at Bighorn CITY OF PALM DESERT PUBLIC WORKS DEPARTMENT STAFF REPORT REQUEST: Release the Grading Security for Parcel Map 33996 (Bighorn) SUBMITTED BY: Mark Greenwood, P.E., Director of Public Works APPLICANT: David B. McFarland 113 Netas Court Palm Desert, CA 92260 CITY COUNCILACTION APi'ROVF.D ✓ n�-��'�� CD NUMBER: 6206282 RF.CEIVED (��i��;R ---- BANK: Palm Desert National Bank MEF.TING DATE ^��- - . — 70-390 Highway 111 AYES: � ` �� -- Rancho Mirage, CA 92270 NOES: ^��%�� A�35ENT: -� � ' - DATE: October 22, 2009 ABSTAIN: � �-- VF,RIFIED BY: � — CONTENTS: Vicinity Map Original on Fife with City Clerk sOf'�cc Certificate of Deposit Recommendation: By Minute Motion, release the grading security for Parcel Map 33996 (Bighorn). Discussion: � At the time of grading permit issuance, the applicant submitted a certificate of deposit (CD) for rough grading for Parcel Map 33996 in Bighorn. The total amount submitted for grading was $44,064. All grading has been completed and staff has inspected the site and found it to be acceptable. Therefore, staff recommends that Council authorize the City Cler to release the grading security for Parcel Map 33996 (Bighorn). Submitted By: Depart n d: � ' � C 1�.,�►�i-� �.� �ci.,�l.�� Christina Canales Mark Greenw od, P.E. Assistant Engineer Director of P blic Works App v I: G�� Paul S. Gibson o n M. Wo Imuth Finance Director ity Manager � � a 0 3 ' � ' x -�i '! 12' J � O ,, u' � ; ~ Z ! � Ui � JAGUAR-WAY 2 J � � W q� �° � PM 33996 ,� t-=U O Jm ~ i _ .,. __..,.__..� __�_��Mw�,..� __ _ _�_:METATEPL __... ._. //%��/I METATE PL WIK/L PL ,�v Q' Qy v�' v .q � ��'P � V�.G� 3' �� oR �„P ,�,Q�r '��`a .< G� T.AS' N�r�sQR p�Y�D�, LOCATOR MAP °��=��' PARCEL M�.P 33996 � ��' e,e��. �� DAT E: ��o�'`�� 10/2009 1 inch = 400 feet vICINITY MAP Aate �'� Opened: 10/27/06 �'erm: �-Z Month(s) ip; 558-7.5-0975 Number• Certif�cate of Deposit AccountNumber: 6206282 Amount of Deposit: Forty four thousand sixty tour & no/100 $ 44,064.00 This TSme Deposit is Tssued to: Issuer: PALM DESERT NATZQNAL BANK 1ZF.NCHO MIRAGE OFFICE ' DAVID B MCFARLAND , 70-390 I�TGHWAY 111 PLEDGE TO CITY OF PALM DESERT RANCAO MSRAGE, CA 92270 1].3 NETAS CT PA�M DESERT CA 92260 Nof Negotiable-Not Transferable-Additional terms are Uelow. By .��1N"L Deanna Henry CERTIFTCATE OF DEPOSI'I' APPROVED BY: Adclitional Terms and Disclosures This form contains the terms for your time deposit. It is also die Minimum Bala�ace Requirement:You must make a minimum deposit to Truth-in-Savings disctosure for those depositors entitled to one. There are additional terms and disclosures an page two of this form, some of open this account of$ 1,000.00 which explain or expand on those below. You shou(d keep one copy of ' this form. �Yau must maintain this minimum balance on a daily basis to earn the MaturiEy Date:This account matures 10/27/07 annual percentage yield discfosed. (See betow for renewal information.) Withdrawals oF Interest:Interest ❑ accrued ❑ credited during a Rate Information: The interest rate for this account is 4•S0 % term can be withdrawn: with an annual percentage yield of 4•5Q %.This rate will be paid until tlie matueity date specified above. Interest begins to accrue on Early Withdrawal Penalty: If we consent to a request for a withdrawal the busi�zess day you deposit any noncash item(for example,a check). that is otherwise not permitted yoa may have to pay a penalry. The Tnterest will be compounded Daily , penalty wilI be an amount equal to: Interest wi11 be credited �d Added Back to the CD Every 1 MONTH interest on the amount withdrawn. � The annual percentage yield assumes that interest remains on deposit Renewal Policy: unti[maturity. A withdrawal of interest will reduce earnings. ❑ Single Maturity: If checked, this account will not automatically ❑ IF you close your account before interest is credited, you will not renew.Interest ❑ will ❑ will not accrue after maturity. ceceive the accrued interest. C� Automatic RenewaL• If checked, this account will automaticalty The NL3MBER OF ENDORSEMENTS needed for withdrawal or any renew on the maturiry date, other purpose is: 1 Interest �will ❑ will not accrue after final maturity. ACCOUN'I' OWIVERSHIP: You have requested , SACKUP WITHHOLDING CERTIFICATIONS and intend t6e type of account marked below. TIN• 558-15-0975 � Individual ❑ Joint Account � �'axpayer I.D. Number -The Taxpayer ❑ Exempt Recipients - I am an exempt ❑ ]'oint-Husband and Wife�w�mr�gh�or5�rv;��Sn�P> Identification Number showtt ahove (TII� is recipient under the Internal Revenue Service ❑ Community Property-Husband and Wife my correc[taxpayer iHentification number. Regulations. ❑ Tenancy in Common �.Baekup Withhalditig - I atn not subject A provision for my signature, certifying ❑ Trust:Se arate A reennent llated t4t backup withhoIding either because I have under penalty of perjury the sfatements p � checked in this section a�xd that I am a U.S. � not been notified that I am subject to backup �erson (including a U.S. resident alien), is withholding as a resu[t of a failure to report contained on fhe 6rst copy oF this all interest or dividends, or the Internal certificate. Revenue Service has notitied me that I am no ❑ Totten Trust or ❑ Pay on Death longer subject to backup withhotding, Designation as defined in this agreement (Beneficiaries' names and addresses) ENll012S�MENT5-SIGN ONLY WFYEN YOU REQLJEST WITHDRAWAL X X X �'" �5993 Bankers Systems,Inc..St.Cloud,MN Form CD-AA-LA2-CA I7� 1 011 7/2 0 01 READ PAGE TWO FOR ADDITIONAL TERMS 1page 1 af21 DEFIrTITIONS: "We," "our," and "�s" mean the issuer of this accoun[ P.O.D. Account With Mulftple Parties -This account is owned by the and "you" and "your" mean the depositor(s). "Account" means the named parties. Upon the death of any of them, ownership passes to the original cerdficate of deposit as well as the deposit it evidences. survivor(s).Upon the death of all of them,ownership passes to the named pay-on-death payee(s). Whether the P.O.D. Accoun[is with single party TRANSFER: "Transfer" means any change in ownership, withdrawal or multiple parties, if ownership passes to more than one beneftciary,any rights, or survivorship rights, including (but aot limited to)any pledge or such benefciary may withdraw al! or any part of the account balance. ass9gnment of this accaunt as coilateral. You cannot transfer this account Totten 1�ust Account- (subject to this form) - If[wo or more of you without our written consent. create this account, you own the account jointly with survivorship. Beneficiaries acquire the right to withdraw only if(1)ail persons creating PRIMARY AGREEMENT:You agree to keep your funds with us in this the account die, and (2) the beneficiary is then living. If two or more account unti] the maturity date. (An aummaticalIy renewable account beneficiaries are named and survive the death of all persons creating the matures at regular intezvaIs.) You may not transfer this account without account, such beneficiaries will own this account in equal shares, tivithout fcrst obtaining our written consent.You must present this certificate when right of survivorship, Aay such beneficiary may withdraw all or any part yoa request a withdrawal or a transfer, of the account balance. The person(s) creating either of these account This account is void if the deposit is made by any method requiring types reserves the righ[to: (i} change beneficiaries; (2) change account collection(such as a check)and the degosit is not immediately coilected in types;and(3)withdraw al[or part of the deposit at any time. full.If the deposit is.made or payable in a foreign currency,the amount of Trust Account Sub,�ect to SeparaEe Agreemeat- We will abide by the deposit wiil be adjusted to reflect final exchange into U.S.dollars. the terms of any separate agreement which clearly pertains to this account We may change any term of this agreement. Rules governing changes and which you fiIe with us. Any additional consistent terms stated on this in interest rates have been provided. Far other changes we will give you form wilf also apply. reasonable notice in writing or by any other method permitted by law. If any notice is necessary, you aIl agree that the notice witl be SET-0FF: You each agree that we may (without prior notice and when sufficient if we mait it to the address listed on page one of this form.You permitted by law} set off the funds in this account against any due and must notify us of any change. payable debt owed to us now or in the future, by any of you having the right of withdrawal,to the extenc of such person's or Iegal entity's right to WITHDRAWAIS AND TRANSFERS: Only those of you who sign the withdraw.The amount of the set-off may be further limited by applicable permanent signature card may wiihdraw funds from this account. (In [aw. If the debt arises from a note, "any due and payable debt" includes appropriate cases, a court appointed representative, a beneficiary of a the totaf amount of which we are entitled to demand payment under the trust or pay-on-death account whose right of withdrawal has matured,or a terms of the note at the time we set off, including any balance the due date ❑ewly appointed and authorized representative of a le$al entity may also for which we properly accelerate under the note. This right of set off does withdraw from this account.)The specific number of you who must agree not apply to ihis accaunt if: (a) it is an Individual Retirement Account or to any withdrawai is written on page one in t[ae section bearing tt►e title other tax-de£erred retirement account, or (b) the debt is created by a " . . . Number of Endorsements . . . . "This means, for exampie, that if consumer credit transaction under a cred[t card plan, or (c) the debEor's two of you sign the signature card but only one endorsement is necessary right of withdrawal arises only in a representative capacity. You agree ta for withdrawal then either of you may.request withdrawal of tfie entire hold us harmless from any claim arising as a result of our exercise of our account at any time. right of set-off. These same rules apply to define the names and the number of you who can request our consent to a transfer. BALANCE COMPVTATION METHOD: We use the daily balance method to calculate the interest on this account. This method applies a PL�AGES:Any pledge of this account(to which we have agreed), must daily periadic rate to the principal in the accaunt each day. first be satisfied before the rights of any joint account survivor, pay-on-death beneficiary or trust account beneficiary become effective. TRANSACTION LIMITATIONS: You cannot make additional deposits Por example,if one jaint tenant pledges the account for payment of a debt to this account dariag a term {other than credited interest). Xou carmot and then dies,the surviving joint tenant's rights in this account are subject withdraw principal from this account without our consent except on or first to the payment of the debt. after maturity. {For accounts that automatically renew, there is a grace period after each renewaf date during which withdrawals are permitted OWNERSHIP OF ACCOUNT AND BENEFICIARY without penalty.) DESIGNATION: You intend these rules to appiy to this aceount In certain circumstances such as the death or incompetence of an depending on the form of ownership and beneficiary designation, if any, owner of this account, taw permits,or in some cases requires, the waiver specified on page 1.We make ao representations as to the appropriakeness af the eacly withdrawal penalty. o� effecE of the ownership and beneficiary designations, except as they FOR ACCOUNTS THAT AUTOMATICALLY RENEW: Each dete:mine to whom�tre pay the account funds. Individual Account-This account is issued to one person who does renewal term will be 12 MONTFIS , beginning on not intend (merely by opening this account) to create any survivorship the maturity date(unless we notify you, in writing,before a maturity date, rights in any other person.Joint Account-This account is owned by the of a different term for renewal}. named parties. Upon the death of any of them, owaership passes to tha you must notify us in writing before, or within a 1� day grace survivor(s}. Joiat Account - of Husband and Wife With Right of Survivorship - This account is owned by the named parties, who are Period atter, the maturity date if you do not want this account to husbaz►d and wife, and is presumed to be their communiry property. Upon automatically renew. the deaEh of either of them,ownership passes to the survivor. Community Interest earned during one term that is not withdrawn during or Properfy Account of Husband and Wife - This account is the immediately after that term is added to principal for the renewal term. community property of the named parties who are husband and wife.The The rate for each renewal term will be determined by us o❑ or just ownership during lifetime and after the death of a spouse is determined by be�'ore the renewal date.You may call us on or shortly before the maturity the law applicable to community properry generally and may be affected date ar�d we can tell you what the interest rate will be for the next renewal by a wilL Tenancy in Common Account-This accoant is owned by the term. On accounts with terms of longer than one month we will remind named parties as tenants in common. Upon the death of any parry, the yon in advance of the renewaJ and tell you when the rate wilI be known ownership in�terest of that parry passes to rhe named pay-on-death payee(s) for the renewal period. oP that party,or, if none, to the estate af that pasty.P.O.D.Acconnt with Single Party-This account is owned by the named party. Upon the death of that party, ownership passes to the �amed pay-on-death payee(s). See your plan disclosure if this account is part of an IItA or Keogh. /page 2 0(2) ��" m 1993 Bankers Systems,Inc.,St.Cloud,MN Form CD-AA-LAZ•CA 1 Q/t 7l2001 ,.. .� %� „ ;._ . :� _ > -°ri. ' ti :Q' �. ; _�� ; �}, � .: � M r . f af r .� ,.h � � �4 s� k�� ^�r S '� 'r'f ,� `��=�r-,t�,�i�� i r d �. .T, � -;.,.�•� �' ' ' y ��,/'� * .. '.1�, '6e.1 t��Sj� ��. ,�. ^ti'i.y . , � � �- '�,-��. , t � { �rot � , _ �''� � . ..� � � r'`\n. 1'�{." �r'i il, ♦ i > � � �,r ��'�: l�' �. {y'��,. � ' �; � �l� "'� ---� �,�:�� . 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