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Home My WebLink AboutMINUTES - 01261993 - 1.8 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA Adopted this Resolution on January 26, 1993 by the following vote: AYES: Supervisors Powers, Smith, Bishop, McPeak and Torlakson NOES: None ABSENT: None r ABSTAIN: None RESOLUTION NO. 93/37 SUBJECT: Amending Subdivision Agreement, Subdivision 6933, Diablo Area. The following substitute security to guarantee the road and drainage improvements as required by Title 9 of the County Ordinance Code was presented for Board approval this date: Security with Robert D. Stratmore as principal in the form of a Letter of Credit (No. DC Oak-074) dated December 21, 1992, and issued by Summit Bank in the amount of $94,300 for faithful performance and $47,650 for labor and materials. NOW THEREFORE BE IT RESOLVED that the Subdivision Agreement approved by the Board on December 18, 1990, is hereby AMENDED to allow substitution of the above-mentioned corporate surety bond in place of the cash security; BE IT FURTHER RESOLVED that the Public Works Director is AUTHORIZED to refund the cash deposit (Auditor's Deposit Permit No. 182428, dated November 30, 1990, in the amount of $141,950), plus interest in accordance with Government Code Section 53079, if appropriate, to Robert D. Stratmore. I hereby certify that this is a true and correct copy if an action taken and entered on the minutes r), tra Board of Supervisors on the date shown. ATTESTED: JAN 2 G ISS .- PHIL BATCHELOR,Clerk of the Board of Supervisors and County Administrator By ,mputy Contact: Melissa Morton - 313-2347 Originator: Public Works (ES) cc: Director of Community Dev. Public Works - Accounting - Construction Robert D. Stratmore dba Make Believe Farm 1600 South Main Plaza, Ste. 190 Walnut Creek, CA 94596 Summit Bank 2969 Broadway P.O. Box 898 Oakland, CA 94604 MM:cl bo:bo26.tl RESOLUTION NO. 93/37 Board of Supervisors Letter of Credit # Contra Costa County DC OAK-074 Administration Building Applicant Martinez, CA 94553 Robert Stratmore Subject: Instrument of Credit Delivered as Improvement Security: Combined Performance and Labor & Materials Security (Contra Costa County Ordinance Code Secs. 94-4.406 and 94-4.408) Gentlemen: Summit Bank, a financial institution, subject to regulation by the State of California or the Federal Government of the United States of America, delivers to Contra Costa County this instrument of credit as security for certain improvements in accordance with the subdivision agreement, dated 12-18-90 and referred to herein and by this reference made a part hereof, subject to the following conditions: 1. We pledge that we hold and will hold on deposit the sum of Ninety-four thousand three hundred dollars ($94 ,300.00) as trust funds guaranteed for payment to Contra Costa County (or successor city) to secure Robert D. Stratmore's (hereinafter referred to as "Owner") faithful performance of the subdivision agreement executed by Owner and Contra Costa County for Subdivision #6933 for the commencement and construction of work and improvements as described in said subdivision agreement and the Subdivision Ordinance of Contra Costa County. We will so hold this sum until commencement, completion, and written acceptance by the Contra Costa County Board of Supervisors of all work and improvements under said subdivision agreement. Prior to said acceptance, upon demand by Contra Costa County (or successor city) , the whole or any. portion of said funds .shall be paid forwith to the County (or successor city) for use toward the commencement and completion of the work and improvement as it sees fit. 2969 BROADWAY P.O.BOX 898 OAKLAND.CALIFORNIA 94604 (415)839-8800 Stratmore Letter of Credit Page 2 2. We further pledge that we similarly hold the additional sum of Forty-seven thousand six hundred f ifty dollars ($47,650.00) on deposit as trust funds guaranteed for payment to any contractor,, his subcontractors, and to any and all persons, companies or corporations furnishing labor or materials or services; or renting equipment to the Owner or the contractors or his subcontractors for the performance of said agreement; and for amounts due under the Unemployment Insurance Act with respect to such work or labor. After passage of time within which claims of lien are required to be recorded pursuant to Article 3 (commencing with Section 3114) of Chapter 2 of Title 15 of Part 4 of Division 3 of the Civil Code and after written acceptance by Contra Costa County (or successor city) that all work and improvements under said agreement are complete, this sum may be reduced to an amount not less than the total claimed by all claimants for whom claims of lien have been recorded and notice thereof given in writing to the Contra Costa County Board of Supervisors, and if no such claims have been recorded, the sum may be released in full. It is hereby agreed that the obligation set forth in Paragraph 2 shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code, so as to give right of action to them or their assigns in any suit brought upon said obligation. 3. No alteration of said agreement, or any plans or specifications of said work, agreed to by Contra Costa County and Owner, shall relieve us from liability on this letter of credit. We hereby give consent for any such alterations to be made without further notice to or consent by us. We hereby hold ourselves bound without regard to and independently of any action against Owner whenever taken. We further agree that if Contra Costa County sues on this letter of -credit, we will pay, in addition to the face value of this letter, all its reasonable costs, expenses and attorneys fees incurred by it in successfully enforcing such -obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgement therein rendered. This instrument of credit is irrevocable. Stratmore Letter of Credit Page 3 Financial Institution Subdividerlowner Summit Bank The undersigned hereby agrees to I swear under penalty of all of the terms and conditions perjury that I have authoritylp set forth and releases the--�e- bind the above-named financial institution executing institution to the terms of this letter of credit from all this letter of credit. liability except as herein specifically set forth. Executed at Oakland, California, Executed at on 1992 LA-I"4 12�1 California, on By: D� , 1992 Jer d Barnes, .P. By: By: Raymond Hilal, Sr. V.P. ALL-PURPOSE ACKNOWLEDGMENT _ �No.5,79 r _ State of CAPACITY CLAIMED BY SIGNER County of Cup, ❑ INDIVIDUAL 0 CORPORATE L. I) f before me, r OFFICER(S) fir. DATE NAME,TITLE OF OFFICER.E.G.,"JANe DOE,NOTARY PUBLIC TITLE(S) _ ❑ PARTNER(S) ❑ LIMITED personally appeared J1'f,;a111� L(rr,�-� ❑ GENERAL NAME(S)OF SIGNER(S)J' ❑ATTORNEY-IN-FACT rVI personally known to me-OR-❑proved to me on the basis of satisfactory evidence ❑TRUSTEE(S) to be the person(s) whose name(s) i ar subscribed to the within instrument and ❑GUARDIAN/CONSERVATOR acknowledged to me that he/she e ❑OTHER: Y executed the same in his/her ei authorized capacity(ies), and that by { OFFICIAL NOTARY SEAL his/her ignature(s) on the instrument DENISE A.DODINI r WIMY Nom,Pubk_c .forrga the person(s), or the entity upon behalf of SIGNER IS REPRESENTING: ALAMEDA COUNTY which the person(s) acted, executed the NAME OF PERSONS)OR ENTITY(IES) Ccf m Expires JAN 30.1995 instrument. Witness my.finda and official s i I SIGNATURE OF OTA ATTENTION NOTARY:Although the information requested-Wow is OPTIONAL,it wuld*r t fraudulent attachment of this certificate to an unauthorized document. THIS CERTIFICATE Title or Type of Document � - MUST BE ATTACHED TO THE DOCUMENT Number of Pages Date of Document DESCRIBED AT RIGHT: Signer(s)Other than Named Above "L b&J-+ 5� c_a-( 01992 NATIONAL NOTARY ASSOCIATION-8236 Remmet Ave.,P.O.Box 7184•Canoga Park,CA 91304-7184 ,v?State of California ) ) 'County of �I ,t 1v1�� ) 4 On the data written below, before me, the undersigned Notary Public, personally appearod the pAr_son(s) signing above for Subdivider/Owner, personally known to me (or proved to me on the basis of satisfactory evidence) to be thA perRon(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/shei/they executed the sa.mo in his/her/their authorized capacity(ies) , and that by his/her/their signRture(n) on the inptrument the person(ts) , or the entity upon behalf of which the person.(s) acted, executed the inotrument. WITNESS my handl and official seal.. Dated- 2- [Notary's Seal] Notary c .Q.1, it)FF1 1, L LOr1 hlr+G loft- P.004 �.tt aptvicMatt/.`'•r Juror o.;X93