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HomeMy WebLinkAboutCity of Tamarac Resolution R-2000-145L 1 1 Temp. Reso. #8980 April 18, 2000 1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2000- 14 ` A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE A PUBLIC IMPROVEMENT PERFORMANCE BOND IN THE FORM OF AN IRREVOCABLE STANDBY LETTER OF CREDIT #S960913 FROM SUN TRUST BANK, MIAMI, N.A., IN THE AMOUNT OF $31,689.00 FOR THE WATER DISTRIBUTION SYSTEM IMPROVEMENTS INSTALLED BY LENNAR HOMES, INC., FOR THE KING'S POINT THEATER PROJECT LOCATED ON THE SOUTHEAST CORNER OF NOB HILL ROAD AND NW 77" STREET; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Lennar Homes, Inc., has constructed the King's Point Theater Project located on the southeast corner of Nob Hill Road and NW 77`h Street (attached hereto in map form as "Exhibit 1 ") and has installed the Water Distribution System Improvements; and WHEREAS, the Water and Sewer Developer's Agreement accepted and executed by the City of Tamarac on February 12, 1997, for the King's Point Theater Project requires Lennar Homes, Inc., to provide a Performance Bond (attached hereto as "Exhibit 2") to the City of Tamarac for Water Distribution System Improvements; and Temp. Reso. #8980 April 18, 2000 2 WHEREAS, the Improvements were inspected, approved and are recommended for acceptance by the Utilities Engineering Division; and WHEREAS, the Final Inspection for this project was on October 22, 1998, which began the one-year warranty period on this date, and the Public Improvement Performance Bond was left in place for the one-year warranty period; and WHEREAS, it is the recommendation of the Interim Director of Utilities that the Public Improvement Performance Bond be released for the King's Point Theater Project Water Distribution System Improvements; and WHEREAS, the City Commission of the City of Tamarac, Florida, deems it to be in the best interest of the citizens and residents of the City of Tamarac to release the Public Improvement Performance Bond from Lennar Homes, Inc., for the King's Point Theater Project Water Distribution System Improvements and waive the one year Warranty Bond. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, THAT: G 1 Temp. Reso. #8980 April 18, 2000 3 SECTION 1: 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: The appropriate City Officials are hereby authorized to release the Public Improvement Performance Bond in the amount of $31,689.00, which has also remained in place in lieu of a Warranty Bond for the Water Distribution System Improvements for the King's Point Theater Project. SECTION 3: The City Clerk is hereby authorized and directed to release to the Utilities Department for return to Lennar Homes, Inc., the Public Improvement Performance Bond for the King's Point Theater Project. The bond is in the form of an Irrevocable Standby Letter of Credit #S960913 issued by Sun Trust Bank, Miami, N.A., in the amount of $31,689.00 for the Water Distribution System Improvements installed for the King's Point Theater Project located on the southeast corner of Nob Hill Road and NW 77' Street. SECTION 4: All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. 1 1 Temp. Reso. #8980 April 18, 2000 4 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 0: passage and adoption. 2000. This Resolution shall become effective immediately upon its PASSED, ADOPTED AND APPROVED this -day of ATTEST- MARION SWENSON, CMC INTERIM CITY CLERK I HEREBY CERTIFY that I have apVpv_ed this RESOWTION as RV/krs/mg MITCHE VS. JKRAFT CITY ATTORNEY JOE SCHREIBER MAYOR RECORD OF COMMISSION VOTE MAYOR SCHREIBER 'U DIST 1: COMM. PORTNER,LQi;i.L,— DIST 2: COMM. MISHKIN . ,X DIST 3: COMM. SUI TANOF(- -4< DIST 4: VIM ROBERTS ' EXHIBIT 1 0 is TEMP. RESO. # 8980 110 1pl\6 ROCKFORD TR28 / TR29 6 6 j Y❑RKSHIRE z TR30 A q r/ > w WELDON w /!GRE/Y / � j j � 3 3 = POF27SG�1� LAND SE 5 TR27 / 77 76 EVANGELICAL % St p CCCHURCHT 76 St WEST LAKE VILLAS Lo U > w KINGS P❑INT Y SALES CENTER / 75 CT \ �+WESTW❑❑D © & CLUB HOUSE % Dq PINES SPRING LAKE II o �g TR37 9R• ji KINGS PT, PROF. PLAZALi j/ rn j// LOCATION 74 CT s� ASHM[INT CIR ¢ WESTW❑❑ 3�k $CCFpRt G1R NpRTH 95 o W. g BELE❑RT ASHM❑NT 73 CT 3 BELT❑R CIR SpU 73 l� tH ST HIDDEN TR42 2 SECTION 21 G� TR40 HOLLOW 72 CT NOB HILL/ N ,�2 > j/// WESTWOOD PLAT N`P TR41 1.J�R P❑INT PLAZA g 72 WESTW00 DR / ~ 71 7d d� S r o 71 ST 71 ST 6, j 70 PL SECTION 22 S� o > r SECTION 21 74 j %/jj%/j ¢ OD 70 CT WESTWOOD 4 70 WE TW❑❑D 3 a m T %/ °' 70 ST v a' 70 ST � , 0 ST m MCNAB ROAD J & J PLAT TAMARAC MARKET PLACE j% TAM AC 68 PC TAMARAC GAR ENS GARDENS %%. E T WEST KPTHEATER,DWG KINGS POINT THEATER RELEASE OF PERFORMANCE BOND "Exhibit 2" ''$ Lkw SQgTft,7 SLNTRUST SUNTRUs-r SLNTRLP CRUST SvN� SG1fIitUST Sl1h(�tUS[ ,V&UST. %uN Rus-r SL'NTRL--r SuNT.w.'sT S, SLNTRusr SuNTmsr Sc.�TR!sr SwNusr Su -lS(jw hesT SLNT;,usr SLNTRus7 S+YTACST SLTNT)&Sr CUNT.gU.,T SLNTWS—,, SUr' (UST .&ATRUFT SLVT-K7Tr SUNIk1 lt!'Rus7 SLvi'aLsr SUNtIRusr S1.tiTeLsr SL'x Lsr .cr-tt'ST w(TRlF1 SU.TRL'5T SL --Nj-s-r SLN RUST' St-NTZLb: SLN"NL^ SJ_A'..-lRtvr S� +i:r2i1;5T SL`,f�Ru,: �,.::.:si Ct tiiRl'=, IT �v.':r `Jl:V7:� :. 3f_�? 5i:ZEC%1: U57 5l:N 11:iTausT !'`� . a;S l.�. v._., ..�i.�, �1.�4��.._ ,J0. �1 a �.� St w1�.{.\:..%'A wJ43d ��L �.i _ _.. W,��:.. y...'�f�,'._.�, .l.. �Y?�-..vim '•a: 1 .. .. .. ... �.. �SUNTRUST -BANK, MIAMI,'`N.A.' „`t" :, `r. L.. ; •�q .. ? :.i �IRRFVOCABLE STANDBY LETTER::OF CREDIT Na,. NOVEMBER ':2 2 ,199 6e:.. a t BENEFICIARYs_ , . APPLICANTc . CITY OF TAMARAC LENNAR HOMES, INC. 7525- N�W--- 88TB'P4VS. N vt7..00 NWI 10?TH AVENUE TAMARAC,_ FL. 3332,1 MIAMI, FL 33172 AMOUNT.' "CJSD :31, 689.00 -, DATE OF EXPIRY -. NOVEMBER 22, 1997 PLACE OF' EXPIRY : �" AT' OUR COUNTERS ' BY ORDER OF OUR'CL;IENT, L-ENNAR HOMES INC.,: 700 N.W.' 107TH AVENUE,.MIAMI, FL_ 33172, WE., HEREBY OPEN OUR IRREVOCABLE LETTER OP' CREDIT NUMBER S960913 IN YOUR FAVOR FOR AN AMOUNT NOT TO EXCEED• -.IN• THE ,AGGREGATE U.S. DOLLARS USD, . 3.1,.689.00 (THIRTY . ONE THOUSAND SIr HDNDERD EIGHTY NINE'AND 00/100-U.S:-DOLLARS) AND 00/ 100 U - S . DOLLARS) EFFECTIVE: , IMMEDIATELY _ AND EXPIRING AS STATED'HEREIN AT OUR SUNTRUET, " 1 MIAMIr ,N..A.,- 373,7_;•NW 87.TH AVENUEr: 1KIAMIr .FL-_ 33178•,:OFFICE. S ^: Jf _ WITHOUT .OBLIGATION,,ON :OUR zPARTF- WE .ARE ADVISED-THAT=THIS.. IRREVOCABLE LETTER OF CREDIT IS TO'ENSURE THE CORRECTION•OF ALL .; INSMICIENCIES::IN DESIGN,-;--WORKMANSHIP�zAND/OR MATERIALS WHICH - .ARE FOUND WITHIN (1) YEAR OF THE DATE OF ' THE FORMAL 'ACCEPTANCE . OF THE IMPROVEMENTS,OF•THE .CITY- OF",TAMARAC FOR, THE INSTALLATION L-,x OF PUBLIC IMPROVEMENTS INDICATED ON CERTIFIED COST ESTIMATE DATE. OCTOBERc3G,,; 5996�AND. APPROVED; -BY TW.CFTY ENGINEER .FOR.;,; F �- ..WATER DISTRIBUTION INSTALLATION FOR KINGS POINT THEATRE AND DEVELOPER:' S:'OBLIGATION" TO_ -COMPLY WITH THE REQUIREMENT-.',OI? :.TAMARAC.i- CITY CODE SECTION 10-156. t... „ .- ti. THE CITY IS AUTHORIZED TO DRAW DRAFTS AT SIGHT ACCOMPANIED BY A SIGNED STATEMENT 4RON-THE-CITY'OF TAMARAC OR71IT&` AUTHORIZED REPRESENTATIVE THAT: "THE UNDERSIGNED, _ANAUTHORIZED REPP•ESENTATIVE'OI"rTH&' CITY' OF=TAMARAC, ,: HERESY CER-tIFIES THAT - ix:L >: w•'-' ice» �A )� THE '-DRAWING 5 DUE' TO' LENf1AR HOMES',' ING• "S'lnILURETTO " ..CORRECT, ,ALL •;,INSUFFICI.ENCIES IN .,DESIGN,-.WORKMANSHIR,,AND/OR MATERIALS WHICFr`AAE FOUND•_WIT14lN :ONE (±)N-YEAA 00-'TW, DATE OF -THE FORMAL ACCEPTANCE -.OE, THE PUBLIC-- IMPROVEM_ ENTS., BY . THE -CITY .... �' COMMISSION OF THE"CITY OF TAMARAC,�'OR (8 )~ THAT THE' DEVELOPER S OBLIGATIONS HAVE NOT BEEN 'COMPLETED'; OR THE CITY,, OF, TAMARAC HAS BEEN :NOTIFIED :THAT THE, BOND _)"TILL .NOT .;BE EXTENDED, OR (C)~ THAT THECITY OF TAMARAC HAS-BEEN NOTIFIED THAT THE BOND WILL, - NOT-. BE-Iy'XTENDED•.,'u. < ' ,- •. ' THE',ORIGINAt .-LETTER Olr%CREDIT ?AND•:+ALL AMENDMENTS;, .-::MLiST BE PRESENTED WITH ANY DRAWING HEREUNDER. OONTINUED� Ot+T NEXT PAGE 'a `L. ':i;. _ ., 5I `i..: ti : •, l :d ; i 4-''d a - _ ; AI ... Sufi RL'S «i; ;T_ 4 I core aod,opmmunicg f should be dkededto ouvogeot Su�fTh�lnumoonal S Inc., 3737- Avenue,MPami;'Florida3i7�` Swi�iC:$NBOUS3M'"`Tefex:67346' �.r..,K,_�,5,,.;< 'TRUST S1--,%' �T 5(.NTRII�!5 SLNTRL'sT SLti;`dc sr SL�fIxL'sr SLNTRusr ;UNTRLgr 5u%TaLY-r &NT41.3 �`YLI3L '. 7iJh1RLS[ JUN1RUb_r OUNIRUS1' SUWTRLW SUNTRLST S WrRt -r SLNTRL-,T S(,N[RUlFr SL1I)2U5I S StwTkusT SLWrRUsr SL'RfIYtUST SL'NTRL SugNusT SLavTRUST SL'rf['RUST SV: ,T SUNTRUST SLIP RUS-r Sca�fll�,y tusr 'rSuvTitus; SLNTRLST SL�IiRLST SUi1(TRUSr SLNTRUST SLW tM SL' NfjST SUNTRUS, (.�iT:ii,'ST �ULI ZUST gt OSL1fIwsr SUNT'3UST &_NTRuS, Sui► Nus: &NT1 L:sr St--41Rt:ST SLNTRUST SUNTRUsp SLNTtRt � a �' t�i T �tLS [' SuNl�ttrsr ti ScTfI�er. 4LsT�usr SL TAUs S11 Ls^ SL yTit'S, SL.4Tau, SLNTRLST SGNI USr �;� S raLs-r — �uxTRtrsr S(_WTatsT SuNTRt-s: SLa(tRtsr SLNTRUST + r , �r � S+ a :.,, a( (ti,L a Sui�'j'Rusr or ,(•rnl:.ST :7L'Ni.�µ, uL •�"+— S �"^ C ( :fT2L._ i I.:x TRL i N�i±(`M `3L �T 1:".`a'? �i i <i ^_ 1,"FrCt IRREVOCA '� " r BLE `_LETTER OF6R ` EDIT i6"''96091�3YTI - St�I �,.-s c'v'T:tt.' �' (,-;;tir r ;;THIS- LETTER., OF CRMl,T,, SHALL, E AUTOMAT�CALLy. RENEWED ., WITHOUT W AMENDMENT;. , FOR` SUCCES; IVE -PERIODS OF, (1 r� Y�7AR� EACEi;3 `;"'T .,, •UNLES,S;•WE PROVIDE--WRITTEN-NOTIC&-TO` T REGISTERED MAIL— OR SPECT•AL COURIER", THATIWE E RCITt; TOT TO RENEW r THE .CREDIT FOR AN ADDITIONAL'„;PERIODw:,WHICH -NQTICE MUST, BE_r PROVIDED AT LEAST SIXTY (60)' DAYS PRIOR TO -THE 'EXPIRATION DATE OF , r ' . ! • ;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" WRIT,TEN,, NOTIFZCATION;.THAT,-IT :..MAr>°BE TERMINATED PRIOR TO THE THEN CURRENT FXPTRATIDN DATE. - r ;. = .t WE ENGAGE WITH YOU THA'EACH 1 ti, +i ax 4- = T EACH DRAFT DRAWN UNDER AND IN STRICT "r COMPLIANCE WITH THE" :TERMS`- AND'_ CONUITIONS OH` - THIR' •LETTER •OF REDIT WILL BE. DULY HONORED IF PRESENTED AT THIS OFFICE ON OR "BEFORE THE EXPIRATION-DATE°OF''THIS. LETTER' OF" CREDIT"OR ANY <' EXTENDED DATE AS,PROVIDED•FOR HEREIN.- ALL.DRAFT(S)- DRAWN UNDER THIS CREDIT MUST BE MARKED: "DRAWN .UNDER SUNTRUST, 'BANK,` •- MIAMI , N'. A. 'LETTERw OF' •CREDIT *NUMBER `.. 5960913." SUBJECT TO THE,UNIF 'CUSTOMS•AND_PRACTICE _ UNLESS EXPRESSLY STATED..OTHERWISE,�THIS LETTER OF,C1tEDIT IS '(199_T'REVISTON)' " INTERNATIONAL.0 R F COMMERCE PUBLICATION-NUMBER..500 OR ANY ISION' SUPERCED G BLICATION NUMBER- soa., ' `' .• C' x _ S SUNTRUST INTL. SERVICES, INC.:­:" NC : s _ .:ACTING'.:AS AGENTS :FOR :�.! -• SUNTRUST BANK, MIAMI, v � ,-.... ... v -A. - n r a.. _ ti : Tf::it Jz A f t G•. Y 1 � y ..1 ,, ...... ... .:Z... . ... , ,.,`w.ls'ai�ht.�i `'� --' `"+.. a•n, ". .� 1:'��.'�+, 1.`f .l.,. y t 1 x >r ,� �•r. �. tusr SLTiT�tt�ST �C,":�'i�i.i; �s'.7' l.:�i•riLSi' r:�RL"51' Sl.NT'T.tUS'i Si.'�d +. .`.. SuVT;2t;ar St;?,TRLAII correspp to ourunTru Intematlonal [�� Avenue, Miami; rn y 4, g�Grvxnu,. ,,a; uy�� 7: W 87t t o 3 .�� '..�" t� . e{i 4 S tr.�T u �d Florida 3 � " 5 SNBM93M' %rex: 67 LUST SUNTRUST SclT TRUST SLINTRUST SUNTRUsr Sc'KTRu,-T �7ry> 17.., — _ _ • SuNTRusT IRREVOCABLE LETTER OF CREDIT NUMBER S960913 SEPTEMBER 22, 1997 CITY OF TAMARAC 7525 N.W. 88TH AVE. TAMARAC, FLORIDA 33321 RE: OUR IRREVOCABLE LETTER OF CREDIT S960913 ISSUED: NOVEMBER 22, 1996 CURRENT BALANCE: 31,689.00 U.S. DOLLARS ACCOUNT PARTY: LENNAR HOMES, INC. • NEW EXPIRATION DATE: NOVEMBER 22, 1998 DEAR CITY OF TAMARAC THIS IS TO NOTIFY YOU THAT THE ABOVE REFERENCED LETTER OF CREDIT HAS BEEN RENEWED FOR AN ADDITIONAL PERIOD AS STATED IN THE TERMS AND CONDITIONS OF THE LETTER OF CREDIT. cc i" a "`I+ THIS IS A NOTIFICATION ONLY AND IS NOT AN AMENDMENT TO THE 410 ORIGINAL LETTER OF CREDIT. IF YOU HAVE ANY QUESTIONS CONCERNING THIS LETTER OF CREDIT C" PLEASE CALL OUR LET R OF CREDIT DEPARTMENT AT (305) 591- 625 jTa REFERRING TO O NEW LETTER OF CREDIT NUMBER S960913 AND S RENE OT CE. w� AUTHORIZED SIGNATURE 306 CC: LENNAR HOMES, INC. 700 NW 107TH AVENUE MIAMI, FL 33172 • All correspondence and communication should be directed to our agent SunTrust International Services, Inc., 3737 N.W. 87th Avenue, Miami, Florida 33178 Swift: SNBOUS3M Telex: 6734609 0 SuNTRusT IRREVOCABLE LETTER OF CREDIT NUMBER S960913 SEPTEMBER 14, 1998 CITY OF TAMARAC 7525 N.W. 88TH AVE. TAMARAC, FLORIDA 33321 RE: OUR IRREVOCABLE LETTER OF CREDIT S960913 ISSUED: NOVEMBER 22, 1996 CURRENT BALANCE: 31,689.00 U.S. DOLLARS ACCOUNT PARTY: LENNAR HOMES, INC. NEW EXPIRATION DATE: NOVEMBER 22, 1999 DEAR BENEFICIARY: THIS IS TO NOTIFY YOU THAT THE ABOVE REFERENCED LETTER OF CREDIT HAS BEEN RENEWED FOR AN ADDITIONAL PERIOD AS STATED 4 THE TERMS AND CONDITIONS OF THE LETTER OF CREDIT. THIS IS A NOTIFICATION ONLY AND IS NOT AN AMENDMENT TO THE ORIGINAL LETTER OP' CREDIT. IF YOU HAVE ANY QUESTIONS CONCERNING THIS LETTER OF CREDIT PLEASE CALL OUR LETTER OF CREDIT DEPARTMENT AT (305) 591- 6250, REFERRING TO OUR LETTER OF CREDIT NUMBER S960913 AND THIS RENEWAL DIOTICE. Y, -------------------- AUTHORIZED SIGNATURE SUNTRUST INTL SERVICES, INC. AS AGENTS FOR SUNTRUST BANK, MIAMI, N.A. 303 CC: LENNAR HOMES, INC. 700 NW 10 7TII AVENUE MIAMI, FL 33172 All correspondence and communication should be directed to our agent SunTrust International Services, Inc., 3737 N.W. 87th Avenue, 1 st Floor, Miami, Florida 33178 Swift: SNTRU3M Telex: 542210