HomeMy WebLinkAboutCity of Tamarac Resolution R-96-056Temp. Reso. #7336-February 28, 1996
Rev. 3/20/96
CITY OF TAMARAC
RESOLUTION NO. R-96-v
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF TAMARAC, FLORIDA, AUTHORIZING THE
APPROPRIATE CITY OFFICIALS TO RELEASE TWO (2)
PUBLIC IMPROVEMENT PERFORMANCE BONDS: THE
FIRST IN THE FORM OF AN IRREVOCABLE STANDBY
LETTER OF CREDIT #32083 FROM SUNBANK/MIAMI, N.A.
IN THE AMOUNT OF $23,517.50 FOR SEWER COLLECTION
SYSTEM IMPROVEMENTS AND THE SECOND IN THE
FORM OF AN IRREVOCABLE STANDBY LETTER OF
CREDIT #32084 FROM SUNBANK/MIAMI, N.A. IN THE
AMOUNT OF $51,855.75 FOR WATER DISTRIBUTION
SYSTEM IMPROVEMENTS SUBJECT TO THE RECEIPT OF
A ONE-YEAR WARRANTY BOND IN THE AMOUNT OF
$29,515.18 FOR THE WATER DISTRIBUTION AND SEWER
COLLECTION SYSTEM IMPROVEMENTS INSTALLED BY
LENNAR HOMES, INC., IN THE WELDON PHASE I
PROJECT FOR CITY OWNERSHIP AND ESTABLISH THE
EFFECTIVE DATE OF THE ONE-YEAR WARRANTY PERIOD
COMMENCING ON MAY 15, 1995; PROVIDING FOR
CONFLICTS; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, on August 11, 1993, the City Commission approved a Site Plan for the
Weldon Phase I Project located at the northeast corner of N.W. 77th Street and N.W. 96th
Avenue (attached hereto in map form as "Exhibit 1") for the developer, Lennar Homes, Inc.;
and
WHEREAS, Lennar Homes, Inc., is constructing the Weldon Phase I Project and
has installed the Water Distribution and Sewer Collection System Improvements required
by the Site Plan; and
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Temp. Reso. #7336-February 28, 1996
Rev. 3/20/96
WHEREAS, on July 1, 1994, Lennar Homes, Inc., submitted two (2) Performance
Bonds: the first in the form of an Irrevocable Standby Letter of Credit #32083 from
SunBank/Miami, N.A. in the amount of $23,517.50 for Sewer Collection System
Improvements (attached hereto as "Exhibit 2") and the second in the form of an Irrevocable
Standby Letter of Credit #32084 from SunBank/Miami, N.A. in the amount of $51,855.75
for Water Distribution System Improvements (attached hereto as "Exhibit 3"); and
WHEREAS, City Code Section 10-156 and the Water and Sewer Developer's
Agreement accepted and executed on August 11, 1993 requires Lennar Homes, Inc., to
provide a Performance Bond for the Weldon Phase I Project; and
WHEREAS, the Water Distribution and Sewer Collection System Improvements
have been in service since May 15, 1995, which established the start of the warranty
period; and
WHEREAS, the Developer has requested the release of the Performance Bonds
and establishing the one-year warranty period commencing on May 15, 1995; and
WHEREAS, the Utilities Engineering Division inspected and approved the Water
Distribution and Sewer Collection System Improvements on April 28, 1995; and
WHEREAS, the Certified Actual Costs established the amount of the one-year
Warranty Bond as $29,515.18 for the Water Distribution and Sewer Collection System
Improvements; and
WHEREAS, it is the recommendation of the Director of Utilities that the Performance
Bonds be released subject to the receipt of a Warranty Bond and establish the
commencement date of the one-year warranty period to be May 15, 1995; and
2
Temp. Reso. #7336-February 28, 1996
Rev. 3/20/96
WHEREAS, the City Commission of the City of Tamarac, Florida deems it to be in
the best interests of the citizens and residents of the City of Tamarac to release the
Performance Bonds for the Weldon Phase I Project subject to the receipt of a one-year
Warranty Bond in the amount of $29,515.18 for the Water Distribution and Sewer
Collection System Improvements and establish the one-year warranty period commencing
on May 15, 1995.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA:
SECTION J The foregoing "WHEREAS" clauses are hereby ratified and
confirmed as being true and correct and are hereby made a specific part of this
resolution.
SECTION 2: That the appropriate City Officials are hereby authorized to
accept the one-year Warranty Bond for the Water Distribution and Sewer Collection
System Improvements in the amount of $29,515.18 for the Weldon Phase I Project in
accordance with Section 10-156 of the City Code and establish the one-year warranty
period commencing on May 15, 1995.
SECTION 3: That the City Clerk is hereby authorized and directed to
release to the Utilities Department for return to Lennar Homes, Inc., two (2)
Performance Bonds upon acceptance of the one (1) year Warranty Bond for the
Weldon Phase I Project. The first bond is in the form of an Irrevocable Standby Letter
of Credit #32083 from Sun Bank/Miami, N.A. in the amount of $23,517.50 for Sewer
3
1
1
Temp. Reso. #7336-February 28, 1996
Rev. 3/20/96
Collection System Improvements. The second bond is in the form of an Irrevocable
Standby Letter of Credit #32084 from Sun Bank/Miami, N.A. in the amount of
$51,855.75 for Water Distribution System Improvements.
SECTION 4: All resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
SECTION 5: If any clause, section, other part or application of this
Resolution is held by any court of competent jurisdiction to be unconstitutional or
invalid, in part or application, it shall not affect the validity of the remaining portions or
applications of this Resolution.
SECTION S� This Resolution shall become effective immediately upon its
passage and adoption.
PASSED, ADOPTED AND APPROVED this l"6/ day of
199/' .
ATTEST:
CAROL A. EVANS, CMC
CITY CLERK
I HEREBY CERTIFY that I have
appprele--o tois RESOLUTION as
MITCHELL
CITY AT
Utilities/rmc/dav/mw
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NORMAN ABRAMOWITZ
MAYOR --
IMAYOR
DIST. 1:
DIST. 2:
DIST. 3:
DIST. 4:
RECORD OF COMMISSION VOTE
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SunBank/Mlsml,
National Association
Intemational Services
3737 N.W.87th Avenue
Miami, Florida 33178
Tel: (305) 591-6250
Telex: TAT 1441493 SUNBKMIA
Swift: SNBOUS3M
ISSUING BANK:
IRREVOCABLE STANDBY LETTER
SUNBANK/MIAMI, N.A.
OF CREDIT NUMBER 32083
LETTER OF CREDIT DEPT.
3737 N.W. 87TH AVENUE
MIAMI, FL. 33178
DATE AND PLACE OF ISSUE:
DATE AND PLACE OF EXPIRY:
OCTOBER 5, 1993 MIAMI,FL.
JULY 1, 1994 MIAMI,FL.
APPLICANT:
BENEFICIARY:
LENNAR HOMES, INC.
CITY OF TAMARAC
700 N.W. 107TH AVENUE
5811 N.W. 88TH AVENUE
MIAMI, FLORIDA 33172
TAMARAC, FLORIDA 33321
ATTN: CITY CLERK
PARTIAL DRAWING PERMITTED
AMOUNT:USD23,517.50
UP TO AN AGGREGATE THEREOF
ADVISING BANK:
CREDIT AVAILABLE WITH:
SUNBANK/MIAMI, N.A.
DIRECT TO BENEFICIARY
3737 N.W. 87TH AVENUE
MIAMI, FL. 33178
BY: PAYMENT -AGAINST DOCUMENTS
DETAILED HEREIN AND YOUR
DRAFTS AT SIGHT DRAWN ON
SUNBANK/MIAMI, N.A.
BY ORDER OF OUR CLIENT, LENNAR HOMES, INC., 700 N.W. 107TH AVENUE,
MIAMI, FL. 33172, WE HEREBY OPEN OUR CLEAN IRREVOCABLE LETTER OF
CREDIT NUMBER 32083 IN YOUR FAVOR FOR AN AMOUNT NOT TO EXCEED IN
THE AGGREGATE U.S. DOLLARS TWENTY THREE THOUSAND FIVE HUNDRED
SEVENTEEN AND 50/100 ($23,517.50), EFFECTIVE IMMEDIATELY AND
EXPIRING AS STATED HEREIN AT OUR SUNBANK/MIAMI, N.A., 3737 N.W.
87TH AVENUE, MIAMI, FL. 33178, OFFICE.
WITHOUT OBLIGATION ON OUR PART, WE ARE ADVISED THAT THIS
IRREVOCABLE LETTER OF CREDIT IS TO ENSURE INSTALLATION OF PUBLIC
IMPROVEMENTS INDICATED ON CERTIFIED COST ESTIMATE DATED MAY 28,
1993 AND ON PLANS PREPARED BY DANIEL CARNAHAN CONSULTING ENGINEERS
AND APPROVED BY THE CITY ENGINEER, FOR SEWER COLLECTION
INSTALLATION FOR WELDON PHASE ONE AND DEVELOPER'S OBLIGATION TO
COMPLY WITH THE REQUIREMENTS OF TAMARAC CITY CODE SECTION 10-156.
THE CITY IS AUTHORIZED TO DRAW DRAFTS AT SIGHT ACCOMPANIED BY A
SIGNED STATEMENT FROM THE CITY OF TAMARAC OR ITS' AUTHORIZED
REPRESENTATIVE THAT: "THE UNDERSIGNED, AN AUTHORIZED REPRESENTATIVE
OF THE CITY OF TAMARAC, HEREBY CERTIFIES THAT:
M'IE
EXHIBIT 2
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SunBank/Mlaml,
National Association
International Services
3737 N.W. 87th Avenue
Miami, Florida 33178
Tel: (305) 591.6250
Telex: TRT 1441493 SUNBKMIA
Swift: SNBOUS3M
CONTINUANCE OF IRREVOCABLE STANDBY LETTER OF CREDIT 32083
(A) THE DRAWING IS DUE TO LENNAR HOMES, INC. 'S FAILURE TO CONSTRUCT
THE PUBLIC IMPROVEMENTS." OR
(B) THAT THE DEVELOPER'S OBLIGATIONS HAVE NOT BEEN COMPLETED AND
THE CITY OF TAMARAC HAS BEEN NOTIFIED THAT THE BOND WILL NOT BE
EXTENDED."; OR
(C) THAT A WARRANTY BOND THAT IS REQUIRED BY TAMARAC CITY CODE HAS
NOT BEEN PROVIDED."
THE ORIGINAL LETTER OF CREDIT MUST BE PRESENTED WITH ANY DRAWING
HEREUNDER.
THIS LETTER OF CREDIT SHALL BE AUTOMATICALLY RENEWED, WITHOUT
AMENDMENT, FOR SUCCESSIVE PERIODS OF ONE (1) YEAR EACH, UNLESS WE
PROVIDE WRITTEN NOTICE TO THE CITY CLERK VIA REGISTERED MAIL, OR
SPECIAL COURIER, THAT WE ELECT NOT TO RENEW THE CREDIT FOR AN
ADDITIONAL PERIOD, WHICH NOTICE MUST BE PROVIDED AT LEAST SIXTY
(60) DAYS PRIOR TO THE EXPIRATION DATE OF THE ORIGINAL TERM HEREOF
OR ANY RENEWED ONE (1) YEAR TERM, OR UNLESS THE CITY OF TAMARAC
RETURNS THE ORIGINAL LETTER OF CREDIT TOGETHER WITH WRITTEN
NOTIFICATION THAT IT MAY BE TERMINATED PRIOR TO THE THEN CURRENT
EXPIRATION DATE.
WE ENGAGE WITH YOU THAT EACH DRAFT DRAWN UNDER AND IN STRICT
COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT
WILL BE DULY HONORED UPON PRESENTATION OF THE DOCUMENTS AS
SPECIFIED IF PRESENTED AT OUR COUNTERS AT SUNBANK/MIAMI, N.A., 3737
N.W. 87TH AVENUE, MIAMI, FLORIDA 33178.
ALL DRAFT(S) DRAWN UNDER THIS CREDIT MUST BE MARKED: "DRAWN UNDER
SUNBANK/MIAMI, N.A., LETTER OF CREDIT NUMBER 32083."
UNLESS EXPRESSLY STATED OTHERWISE, THIS LETTER OF CREDIT IS SUBJECT
TO THE UNIFORM CUSTOMS AND PRACTICE (1983 REVISION) INTERNATIONAL
CHAMBER OF COMMERCE PUBLICATION NUMBER 400.
..�
EDWARD B. CLOAK
AUTHORIZED SIGNATURE
EXHIBIT 3 Z_;-
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Sun
anK
SunBanWMiami,
National Association
International Services
3737 N.W.87th Avenue
Miami, Florida 33178
Tel: (305) 591-6250
Telex: TAT 1441493 SUNBKMIA
Swift: SN80US3M
ISSUING BANK:
IRREVOCABLE STANDBY LETTER
SUNBANK/MIAMI, N.A.
OF CREDIT NUMBER 32084
LETTER OF CREDIT DEPT.
3737 N.W. 87TH AVENUE
MIAMI, FL. 33178
DATE AND PLACE OF ISSUE:
DATE AND PLACE OF EXPIRY:
OCTOBER 5, 1993 MIAMI,FL.
JULY 1, 1994 MIAMI,FL.
APPLICANT:
BENEFICIARY:
LENNAR HOMES, INC.
CITY OF TAMARAC
700 N.W. 107TH AVENUE
5811 N.W. 88TH AVENUE
MIAMI, FLORIDA 33172
TAMARAC, FLORIDA 33321
ATTN: CITY CLERK
PARTIAL DRAWING PERMITTED
AMOUNT:USD51,855.75
UP TO AN AGGREGATE THEREOF
ADVISING BANK:
CREDIT AVAILABLE WITH:
SUNBANK/MIAMI, N.A.
DIRECT TO BENEFICIARY
3737 N.W. 87TH AVENUE
MIAMI, FL. 33178
BY: PAYMENT —AGAINST DOCUMENTS
DETAILED HEREIN AND YOUR
DRAFTS AT SIGHT DRAWN ON
SUNBANK/MIAMI, N.A.
BY ORDER OF OUR CLIENT, LENNAR HOMES, INC., 700 N.W. 107TH AVENUE,
MIAMI, FL. 33172, WE HEREBY OPEN OUR CLEAN IRREVOCABLE LETTER OF
CREDIT NUMBER 32084 IN YOUR FAVOR FOR AN AMOUNT NOT TO EXCEED IN
THE AGGREGATE U.S. DOLLARS FIFTY ONE THOUSAND EIGHT HUNDRED FIFTY
FIVE AND 75/100 ($51,855.75), EFFECTIVE IMMEDIATELY AND EXPIRING AS
STATED HEREIN AT OUR SUNBA:iK/MIA:dI, N.A., 3737 N.W. 87TH AVENUE,
MIAMI, FL. 33178, OFFICE.
WITHOUT OBLIGATION ON OUR PART, WE ARE ADVISED THAT THIS
IRREVOCABLE LETTER OF CREDIT IS TO ENSURE INSTALLATION OF PUBLIC
IMPROVEMENTS INDICATED ON CERTIFIED COST ESTIMATE DATED MAY 28,
1993 AND ON PLANS PREPARED BY DANIEL CARNAHAN CONSULTING ENGINEERS
AND APPROVED BY THE CITY ENGINEER, FOR WATER COLLECTION
INSTALLATION FOR WELDON PHASE ONE AND DEVELOPER'S OBLIGATION TO
COMPLY WITH THE REQUIREMENTS OF TAMARAC CITY CODE SECTION 10-156.
THE CITY IS AUTHORIZED TO DRAW DRAFTS AT SIGHT ACCOMPANIED BY A
SIGNED STATEMENT FROM THE CITY OF TAMARAC OR ITS' AUTHORIZED
REPRESENTATIVE THAT: "THE UNDERSIGNED, AN AUTHORIZED REPRESENTATIVE
OF THE CITY OF TAMARAC, HEREBY CERTIFIES THAT:
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Sun SunBanWMiami,
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National Association
anK International Services
3737 N.W.87th Avenue
Miami, Ficrida 33178
Tel: (305) 591-6250
Telex: TRT 1441493 SUNBKMIA
Swig: SNBOUS3M
CONTINUANCE OF IRREVOCABLE STANDBY LETTER OF CREDIT 32084
(A) THE DRAWING IS DUE TO LENNAR HOMES, INC.'S FAILURE TO CONSTRUCT
THE PUBLIC IMPROVEMENTS." OR
(B) THAT THE DEVELOPER'S OBLIGATIONS HAVE NOT BEEN COMPLETED AND
THE CITY OF TAMARAC HAS BEEN NOTIFIED THAT THE BOND WILL NOT BE
EXTENDED."; OR
(C) THAT A WARRANTY BOND THAT IS REQUIRED BY TAMARAC CITY CODE HAS
NOT BEEN PROVIDED."
THE ORIGINAL LETTER OF CREDIT MUST BE PRESENTED WITH ANY DRAWING
HEREUNDER.
THIS LETTER OF CREDIT SHALL BE AUTOMATICALLY RENEWED, WITHOUT
AMENDMENT, FOR SUCCESSIVE PERIODS OF ONE (1) YEAR EACH, UNLESS WE
PROVIDE WRITTEN NOTICE TO THE CITY CLERK VIA REGISTERED MAIL, OR
SPECIAL COURIER, THAT WE ELECT NOT TO RENEW THE CREDIT FOR AN
ADDITIONAL PERIOD, WHICH NOTICE MUST BE PROVIDED AT LEAST SIXTY
(60) DAYS PRIOR TO THE EXPIRATION DATE OF THE ORIGINAL TERM HEREOF
OR ANY RENEWED ONE (1) YEAR TERM, OR UNLESS THE CITY OF TAMARAC
RETURNS THE ORIGINAL LETTER OF CREDIT TOGETHER WITH WRITTEN
NOTIFICATION THAT IT MAY BE TERMINATED PRIOR TO THE THEN CURRENT
EXPIRATION DATE.
WE ENGAGE WITH YOU THAT EACH DRAFT DRAWN UNDER AND IN STRICT
COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT
WILL BE DULY HONORED UPON PRESENTATION OF THE DOCUMENTS AS
SPECIFIED IF PRESENTED AT OUR COUNTERS AT SUNBANK/MIAMI, N.A., 3737
N.W. 87TH AVENUE, MIAMI, FLORIDA 33178.
ALL DRAFT(S) DRAWN UNDER THIS CREDIT MUST BE MARKED: "DRAWN UNDER
SUNBANK/MIAMI, N.A., LETTER OF CREDIT NUMBER 32084."
UNLESS EXPRESSLY STATED OTHERWISE, THIS LETTER OF CREDIT IS SUBJECT
TO THE UNIFORM CUSTOMS AND PRACTICE (1983 REVISION) INTERNATIONAL
CHAMBER OF COMMERCE PUBLICATION NUMBER 400.
I
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EDWARD B. CLOAK
AUTHORIZED SIGNATURE
EXHIBIT 1 7-
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