The URL can be used to link to this page

Home My WebLink AboutCity of Tamarac Resolution (155)May 22, 2002 -Temp. Reso. #9739 Page 1 of 4 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2002-155 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE A PERFORMANCE BOND IN THE FORM OF SURETY BOND #6127034 FROM SAFECO INSURANCE COMPANY OF AMERICA IN THE AMOUNT OF $13,809.89 POSTED BY WENDY'S INTERNATIONAL, INC. FOR THE CONSTRUCTION OF A LEFT TURN LANE ON N.W. 57" STREET FOR THE WENDY'S OLD FASHIONED HAMBURGERS RESTAURANT PROJECT LOCATED ON THE NORTH SIDE OF COMMERCIAL BOULEVARD BETWEEN PINE ISLAND ROAD AND NW 91ST AVENUE, SUBJECT TO THE RECEIPT OF A ONE-YEAR WARRANTY BOND IN THE AMOUNT OF $3,452.47; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Wendy's International,, Inc. has constructed a left turn lane on N.W. 57th Street, as an offsite improvement to the Wendy's Old Fashioned Hamburgers Restaurant project, located on the north side of Commercial Boulevard between Pine Island Road and N.W. 915t Avenue in accordance with the Engineering plans approved on September 6, 2001; and WHEREAS, pursuant to Section 10-156(a) of the City Code, Wendy's International, Inc. submitted a Performance Bond in the form of Surety Bond #6127034 from Safeco Insurance Company of America, in the amount of $13,809.89, a copy of which is attached hereto as "Exhibit A", for the construction of a left turn lane on N.W. 57th Street; and WHEREAS, the construction of the turn lane on N.W. 57th Street was inspected and found to be in accordance with the approved Engineering plans; and WHEREAS, Wendy's International, Inc. has requested the release of this Performance Bond in the form of Surety Bond #6127034 from Safeco Insurance Company of America, in the amount of $13,809.89, a copy of which is attached hereto as "Exhibit A"; and May 22, 2002 -Temp. Reso. #9739 Page 2 of 4 WHEREAS, Section 10-156(b) of the City Code requires that the Performance Bond be released subject to the receipt of a one-year Warranty Bond in the amount of twentyfive percent (25%) of the original bond to the City Of Tamarac for the construction of a left turn lane on N.W. 571h Street as an offsite improvement to the Wendy's Old Fashioned Hamburgers Restaurant project; and WHEREAS, it is the recommendation of the Director of Public Works and the Assistant City Engineer that this Performance Bond for a left turn lane on N.W. 57th Street as an offsite improvement to the Wendy's Old Fashioned Hamburgers Restaurant project be released, subject to the receipt of a one-year Warranty Bond from Wendy's International, Inc.; 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 this Performance Bond #6127034 from Safeco Insurance Company of America, in the amount of $13,809.89 for the construction of a left turn lane on N.W. 57th Street as an offsite improvement to the Wendy's Old Fashioned Hamburgers Restaurant project, subject to the receipt of a one-year Warranty Bond in the amount of $3,452.47, from Wendy's International, Inc. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA THAT: 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. f Section 2: The appropriate City Officials are hereby authorized to release Performance Bond in the form of Surety Bond #6127034 from Safeco Insurance Company of America, in the amount of $13,809.89, for the construction of a left turn lane on N.W. 571h Street as an offsite improvement to the Wendy's Old Fashioned Hamburgers Restaurant project subject to the receipt of a one-year Warranty Bond in the amount of $3,452.47 in accordance with Section 10-156(b) of the City Code. Section 3: That all Resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. May 22, 2002 -Temp. Reso. #9739 Page 3 of 4 1 1 1 Section 4: 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 5: This Resolution shall become effective immediately upon its passage and adoption. PASSED, ADOPTED AND APPROVED this 12t" day of June, 2002. ATTEST: MARION S ENSON, CMC CITY CLERK I HEREBY CERTIFY that I approved this ESbL1bTION as to foUm 11TCHELL � K CITY ATTORN JOE SCHREIBER MAYOR RECORD OF COMMISSION VOTE- MAYOR SCHREIBER AYE DIST 1: V/M. PORTNER AYE DIST 2: COMM. MISHKIN AYE DIST 3: COMM. SULTANOF AYE DIST 4: COMM. ROBERTS AYE 1 1 BONO NUMBER 6127034 EXHIBIT "A" Temp. Reso. #9739 Page 1 of 5 IMPROVEMENT PERFORMANCE BOND - SURETY Project Name: Wendy's Old Fashioned Hamburgers, 8901 W. Commercial Boulevard Tamarac FL -Turn Lane Improvements on 571h Street KNOW ALL MEN BY THESE PRESENTS: That Wend 's International Inc. having an address of 4288 West Dublin Granville Rd., Dublin, OH 43017 as Principals, and Safeco Insurance Company -of America having an address of 5901 East Galbraith Rd., Cincinnati, OH 45236 _ a corporation, existing under the laws of the State of Florida, and having heretofore complied with all the requirements of the laws of the State of Florida regulating the admission of such corporation to transact business in this State, as Surety, are held and firmly bound unto the City of Tamarac of Broward County, a municipal corporation of the State of Florida, having an address of 7525 Northwest 88th Avenue, Tamarac, Florida, 33321 in the full and just sum of Thirteen thousand eiciht hundred nine and 89/100 Dollars ($13,809.89), lawful money of the United States of America, for which sum well and truly to be paid to said City of Tamarac, the said Principal and the said Surety do hereby bind themselves, their heirs, executors, administrators, successors or assigns respectively, as the case may be, jointly and severally, firmly by these presents. WHEREAS, the said Principal is required to furnish a Performance Bond to guarantee the installation of improvements as indicated on the Certified Estimated Cost (Exhibit A attached) and on plans prepared by Zamora & Associates Inc. arW approved by the City Engineer or his designee on D 9 /a e / , 20..1., for the Wend 's Old Fashioned Hamburgers at 8901 W. Commercial Boulevard Tamarac- FL -- Turn Lane Improvements on 57th Street Project and to comply with requirements of Tamarac City Code Section 10-156. QR121 R 1 C, ihr 1viQ1nn Imnrovmmont Parinrmanna Annri EXHIBIT "A" Temp. Reso. #9739 Page 2 of 5 The City is authorized to draw drafts when it is accompanied by a signed statement from the City of Tamarac or its authorized representative that; 1. The drawing is due to Wendy's of N.E. Florida, Inc.'s failure to construct the public improvements; or 2. 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 3. That a warranty bond that is required by Tamarac City Code has not been provided. This instrument shall be automatically renewed for successive periods of one (1) year each unless the said surety and/or the said Principal provide written notice to the City Clerk via registered mail of their intent to terminate the credit herein extended, which notice must be provided at least sixty (60) days prior to the expiration date of the original term hereon or any one (1) year term, or unless the City of Tamarac returns the original bond together with notification that it may be terminated. This bond shall remain in full force until improvements have been accepted by the City Commission and replaced by a Warranty Bond as required by City Code Section 10- 156. 981218 2 Subdivision Improvement Performance Bond EXHIBIT "A" Temp. Reso. #9739 Page 3 of 5 ,IN WITNESS WHEREOF, the above bounden parties have executed their instrument by affixing their corporate names and seals hereto and causing their authorized .representatives to sign these presents, pursuant to the authority of their governing bodies on this 31st SIGNED AND SEALED IN THE PRESENCE OF: t :1 (As to Principal) r day of August 20 01 ti t Wendy's International, Inc. CEO& President (Title r the President 4' Atts ed by oseph C. Kovalci,k V.P. Risk lgmt. (Title) Safeco Insurance Company (Title) for Surety Att s Ed by - rrad 41' Attorney -in --Fact (Title) NOTE: The respective corporate seals should be affixed: t2 iM 3 Sub0ivispri Improvement Performance Bond A F E C C)` OFA,-TORNEY KNOW ALL BY THESE PRESENTS: EXHIBIT r`Ar' Temp. Reso. #9739 Page 4 of 5 -ECO INSURANCE COMPANY OF AMERICA JERAL INSURANCE COMPANY OF AMERICA HOME OFFICE: SAFECO PLAZA SEATTLE. WASHINGTON 9t1185 No. 9600 That SAFECO INSURANCE COMPANY OF AMERICA and GENERAL INSURANCE COMPANY OF AMERICA, each a Washington corporation, does each he appoint .►►w..a.►►04BERNARDI CALONGE;BARBARAA.ROBERTS; Cincinnati3Ohio;GREGORYJ.MALLON;WILL IAMF.FAILOR;KIMBEKLY0 SHERROD;DEBOF CUNWNOHAM; Columbus, Ohio. 'MARGARETA.SMITH; ALICEV.HALTER;Clcvcland,Ohio"... ••••►'•"•"•••'"••"••►..................+.....+.....+........ its tr+ae and lawful attorneys) -in -fact, with full authority to execute on its behalf fidelity and surety bonds or undertakings and other documents of a similar char; issued in the Course of its business, and to bind the respective Company thereby. IN WITNESS WHEREOF, SAFECO INSURANCE COMPANY OF AMERICA and GENERAL INSURANCE COMPANY OF AMERICA have each executed attested these presents this 1 2th day of March R.A. PIERSON, SECRETARY W. RANDALL STODDARD, PRESIDENT CERTIFICATE Extract from the By -Laws of SAFECO INSURANCE COMPANY OF AMERICA and of GENERAL INSURANCE COMPANY OF AMERICA: 1999 "Article V. Section 13. - FIDELITY AND SURETY BONDS ... the President, any Vice President, the Secretary, and any Assistant Vice President appointed for I purpose by the officer in charge of Surety operations, shall each have authority to appoint individuals as attomeys-in-fact or under other appropriate titles with authorit execrate on behalf of the company fidelity and surety bonds and other documents of similar character issued by the company in the course of its business... On instn:anent making or evidencing such appointment, the signatures may be affixed by facsimile. On any instrument conferring such authority or on any bonc undertaking of the company, the seal, or a facsimile thereof, may be impressed or affixed or in any other manner reproduced: provided, however, that the seal shall be necessary to the validity of any such instrument or undertaking." Extract from a Resolution of the Board of Directors of SAFECO INSURANCE COMPANY OF AMERICA and of GENERAL INSURANCE COMPANY OF AMERICA adopted July 28. 1970. "On wv certificate executed by the Secretary or an assistant secretary of the Company setting out, (1) The provisions of Article V, Section 13 of the By -Laws, and (ii) A Copy of the power-of-attomey appointment, executed pursuant thereto, and (III) Certifying that said power-of-attomey appointment is in full force and effect, the signature of the certifying officer maybe by facsimile, and the seal of the Company maybe a facsimile thereof." 1, R.A. Pierson, Secretary of SAFECO INSURANCE COMPANY OF AMERICA and of GENERAL INSURANCE COMPANY OF AMERICA, do hereby certify that foreg ing extracts of the By -Laws and of a Resolution of the Board of Directors of these Corporations, and of a Power of Attorney issued pursuant thereto, aretrue ; correct, and that both the By -Laws, the Resolution and the Power of Attorney are still in full force and effect. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the facsimile seal of said corporation SEAL this S { S�— COLOR SEAL day of A q a l 0 A 0Ilft&0%U HChncr• nv SAFECO' SAFECO INSURANCE COMPANY OF AMERICA FINANCIAL STATEMENT— DECEMBF.R 31. 2000 Axsets Cash Wtd HawkDeposit%....................................... S (53,063.9111) Bonds --- U.S. Government ................................. 155,369.687 MOther Bonds......................................................... 1,597,541.400 -Stocks._.._........................................................... 652.0(A,234 Real Estate............................................................ 33.625,015 Agents' Balances or Uncollected Prcrniums ........ 304.917,500 Accrued Interest and Rcnta.................................. 34,192,576 Other Admitted Assets .............. 1............. I............ 274,804.794 Total Admitted Amets.................................. S 2.999,450,2I5 p° A � SEAL 1953 F wAs EXHIBIT $$A" Temp. Reso. #9739 Page 5 of 5 T.labllttlen Unearned Premiums .................... ....—"I..".".,........ S 594,301,869 Reserve for Claims and Claims Expense ................ 1,408.815.7SH Funds Held under Reinsurance Treaties ................ 405,241 Reserve for Dividends to Policyholders ................. 8,38M,015 Additional Statutory Reserve ................................. Reserve for Commissions, Taxes and Other Liabilities ................................................ 291.31k1,866 Total......................................................... j2,293,129,749 Capital Stock ............................. S 5,0(10,000 Paid In Surplus ........................... 11.139,941 Unassigned Surplus ................... 690J80,525 Surplus to Policyholders ._........................... 706,320,466 'rota! Liabilitlex and Surplus ................. I............. $2 999 450.215 " Bonds are stated at amortized or invcslmcni value; Stocks at Association Market Values. Securities cirried at 5121,297,719 stye deposited as required by law. 1, 111CHAEL C. PETERS, senior vice president of SAFECO Insurance Company of Amcricu, do licrcby certify that ilttt foregoing is a true, and corrcct starcmcnt of the Assets and Liabilities of said Corporation, as of December 31. 2000, to the beat of my knowlulpc and belief. IN WITNESS WHEREOF. I have hereunto set my hand and affixed the seal of said Corporation nt Seattle, Washington, thi; tut day of March, 2001. Senior Vice President 6-12V 3MI "'A FapMgered t1&WMa(l of SAFECE) Co,aar&Wen No Text