Loading...
HomeMy WebLinkAboutRESOLUTIONS - 01012003 - 2003-301 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY,CALIFORNIA Adopted this Resolution on May 13, 2003 by the following vote: APES: SUPERVISORS GIOIA, UILKEMA, GLOVER AND DESAULNIER NOES: NONE ABSENT: NONE ABSTAIN: NONE DISTRICT III SEAT VACANT RESOLUTION NO. 2003/301 SUBJECT: Amending Subdivision Agreement, Subdivision 7418,Martinez area. (District II) 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 Deluke Company Limited as principal in the form of a Letter of Credit(No. SB-308103) dated April 16, 2003, and issued by Trans Pacific National Bank in the amount of $344,800.00 for faithful performance and$174,150.00 for labor and materials. NOW THEREFORE BE IT RESOLVED that the Subdivision Agreement approved by the .Board on September 21, 1999, is hereby AMENDED to allow substitution of the above-mentioned Letter of Credit in place of the corporate surety; BE IT FURTHER RESOLVED that the corporate surety with American Contractors Indemnity Company, (Bond No. 9018335 dated August 20, 1995)is EXONERATED. PE.rm 0.\CnpData\FangSvc1BC112003\5-13-031SUB 7418130-23.doc Originator: Public Works(ES) Contact: Rich Lierly(313-2348) I hereby certify that this is a true and correct copy of an action cc: Director of Community Development taken and entered on the minutes of the Board of Supervisors Public Works -Accounting -Construction on the date Shown. Deluke Company Limited George Dai Union Plaza,Suite 101 535 Arastradem Road ATTESTED: DMAiY 130 2003 Pato Alto,CA 94306 JOHN SWEETEN,Clerk of the Board of supervisors and Trans Pacific National Bank John Wong,Executive Vice President'Administrator 46 Second Street San Francisco,CA 94105 American Contractus Indemnity 9841 Airport Blvd.,9'Floor By ,Deputy Los Angeles,CA 90045 American Contractors Indemnity Keith Sandrock 5776 Stoneridge Mail Road,Suite 120 Pleasanton,CA 94588 RESOLUTION NO,2003/ 301 TRANS PACIFIC NATIONAL B A N K Date: April 16, 2003 Irrevocable Standby Letter of Credit No. SB-308/03 In favor of. By order of. Board of Supervisors Deluke Company Limited Contra Costa County Union Plaza Administration Building 535 Arastradero Road Suite 101 Martinez, CA 94553 Palo Alto,CA 94306 For amount of US$518,950.00** (United States Dollars Five Hundred Eighteen Thousand Nine Hundred and Fifty only.) RE: Instrument of Credit delivered as Improvement Security: Combined Performance and Labor&Materials Security(Contra Costa County Ordinance Code Sections 94-4.406 and 94-4.408) Dear Board: Trans Pacific National Bank, a financial institution, regulated by 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 acquisition of the Sub-Division agreement, dated September 21, 1999, and referred to herein and by this reference made a part hereof, subject to the following conditions: 46 Second Street San Francisco,CA 94105-3440 (415)543-3377 FAX: (415)495-5154 swim TPNBUS6S Tmx: RCA 210903 TPNB Page 1 of 3 1. We pledge that we hold and will held on deposit the sum of$344,800.00 as trust funds guaranteed for payment to Contra Costa County (or successor city) to secure DeD lake Compan LLimited's (hereinafter referred to as "Owner") faithful performance of the subdivision agreement executed by Owner and Contra Costa County for Subdivision #7418 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 the 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 forthwith to the County(or successor city) for use toward the commencement and completion of the work and improvement as it sees fit. 2. Upon written acceptance by the County Board of Supervisors (or successor city) of all work and improvements under said agreement as complete, $344,800.00 of the funds held in trust in accordance with Section 1 shall be released and the remaining $51,,720.00 shall be held as security until the improvements successfully pass the guarantee and maintenance period(s) specified in the subdivision agreement. When all of the guarantee and maintenance requirements have been satisfied, this remaining scum shall be released upon written acceptance by the County Board of Supervisors (or successor city) of the completion of these requirements. Prior to said acceptance,upon written demand by the County (or successor city), the whole or any portion of said residual sura shall be paid forthwith to the County (or successor city) for use toward satisfaction of these requirements. 3. We further pledge that we similarly hold the additional sum of dollars $174.150.00) 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 the 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 3 shall inure to the benefits 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 Cade, so as to give a right of action to them or their assigns in any suit brought. Page 2 of 3 4. No alternation of said agreement, or of 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 judgment therein rendered. This instrument of credit is irrevocable. This credit is subject to the International Standby Practices ISP98 (1999 revision) International Chamber of Commerce Publication No. 590. Trans Pacific National Bank Deluke CoMpyny Limited I swear under penalty ofperjury that The undersigned hereby agrees to all the terms I have authority to bind the above-named and conditions set forth 'and releases the financial financial institution to the terms of institution executing this letter of credit from all this letter of credit. liability except as herein specifically set forth. Executed at San Francisco Executed at San Francisco California,onL ril 16, 2003 California, on April 16,2003 By: John K. Wong,_Executive Vice President By: George Dai,Man4gim Director Signature Signature Page 3 of 3 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California Count of I C On 0L GG Z-,200. before me, � Date Name and Tftle of Officer( .g.,"Jane Doe,Notary P blW) personally appeared -,, t H-ts K—,- i> JI)a I T Name(s)of Signer(s) P`p`ersonaliy known to me 0 proved to me an the basis of satisfactory evidence t to be the person(s) whose name(s) is/are t subscribed to the within instrument and l YADIRA acknowledged to me that helshelthey executed *� COMM. #1332216 the same in his/her/their authorized NOTARY PUBLIC•CAUFORNIA capacity(ies), and that by his/her/their SAN FRANCISCO COUNTY ,,,� signature(s) on the instrument the person(s), or My COMM-� 1f�Ir 11,2005 the entity upon behalf of which the person(s) acted, executed the instrument. 1, WITNESS my hand and off' ial seal. t Place Notary Seal Above StPlb of Nota Public OP!1 AL Though the information below is not required by law,i ay prove valuable to parsons relying on the document and could prevent fraudulent removal and attachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: � l f Signer(s)Other Than Named Above: 5 Capaclty(les) Claimed by Signer Signer's Name: © Individual Top of thumb here d Corporate Officer—Title(s): F 0 Partner--17 Limited 0 General C3 Attorney in Fact l ❑ Trustee 0 Guardian or Conservator u Other: Signer is Representing: 0 1997 National Notary Association•9350 Da Soto Ave..P.O.Box 2402 o Chatsworth.CA 91313-2402 Prod.No.5907 Peorder.Call Toll-Free 5-800-878.8827 CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT State of California \INDIVIDUAL PTIONAL SECTION County of Santa Clara ITY CLAIMED BY SIOOn �' -- be€ort tncla3a J. Heyes, Notary PUbl1C e dors not rrquirr the tart'toIltt OATS NAMg T)TLB OF OFF)CER E ti..')ANE UO8 NOTARY PUBLIC" DW,doing may pf r InvalgibkGeor a nai ng on the documpersanaity apptarrd � NAMES)OFSIONER(S) ALNpersonalty- naa:110 meilkI p vi d on the basis ofsatisfactory evidence to TE O CEbe the person(Wwhose name( isUK ) LISA J. REYES subscribed to the within instrument and CORtrrilttslt)ri#13:J+t9$9 acknowledged to me that xecuted U PARTNER(S) Cl iTBD Notary Public-CaftMIN the same in hi~44Lautfibrized ❑ 0 RAL capacity(lKWnd that by hi 11C Santa Clan countyn ATTORNEY -FACT Ir"Dec fib-2W6 signature(gon the instrument the pe V)or LI TRUSTE MY Cin the entity n behal€of which the perso acted, uteri the instrument. t} GUARD N/CONSBRVhTOR U OTHE W han d of(Y i seai, SIGN IS REPRESENTING: I N OF PMONM OR OTIT ISS)i t acknowledged to me that such corporation executed the withi trument pursuant to its by-laws or a resolution of its Board of Directors." OPTIONAL SECTION THIS CERTIFICATE MUST BE ATTACHED Tide or Type of l�tnent Irrevocable Stal�t3by Let er �rt' TO THE DOCUMENT AT RIGHT. Number of Pages � C Though the adjacent data is not required by law,it may prove valuable Date of Document pi-,i I, I K_._,I n A I to persons relying on the document and could prevent fraudulent Signer(s)Other Than Named Above re-attachment of this form John K• 'Wong