HomeMy WebLinkAboutCity of Tamarac Resolution R-99-174Temp. Reso. # 8689
June 29, 1999
Page 1 of 2
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-99-�
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF TAMARAC, FLORIDA, AUTHORIZING THE
APPROPRIATE CITY OFFICIALS TO RELEASE
PERFORMANCE BOND (LETTER OF CREDIT # 933320) IN
THE AMOUNT OF $4,925.00 POSTED FOR PUBLIC
IMPROVEMENTS AT GOLDEN CORRAL LOCATED AT 7401
WEST COMMERCIAL BOULEVARD SUBJECT TO RECEIPT
OF A WARRANTY BOND IN THE AMOUNT OF $1,231.25;
PROVIDING FOR CONFLICTS; PROVIDING FOR
SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE
DATE..
WHEREAS, Value Dining, Inc. furnished to the City a good and sufficient bond in
the total amount of $4,925.00 to guarantee public improvements at the Golden Corral
Restaurant located at 7401 West Commercial; and
WHEREAS, according to City Code Section 10-156 the bond shall remain in full
force until the improvements have been accepted and a one-year warranty bond has been
submitted to the City; and
WHEREAS, the facilities have been inspected and found acceptable by the Public
Works Engineering Division; and
WHEREAS, it is the recommendation of the Public Works Director and City Engineer
that the performance bond be released subject to receipt of a warranty bond in the amount
of $1,231.25 pursuant to City Code Section 10-156; 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
performance bond (Letter of Credit # 933320) in the total amount of $4,925.00 posted for
public improvements at Golden Corral located at 7401 West Commercial Boulevard subject
to the receipt of a warranty bond in the amount of $1,231,25.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA THAT:
UAAdm Correspondence\Resolutions\Resolution\99-Perfomance Bond Release -Golden Corral.doc
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Temp. Reso. # 8689
June 29, 1999
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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
performance bond (Letter of Credit # 933320) in the total amount of $4,925.00 posted for
public improvements at Golden Corral located at 7401 West Commercial Boulevard subject
to the receipt of a warranty bond in the amount of $1,231.25. (a copy of the Letter of Credit
is attached hereto as "Exhibit 1 ").
Section 3: That all Resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
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
ATTEST:
CAROL GOL C C/AAE
CITY CLEW
I HE
EBY CERTIFY that I ha
ap r eA this RESQ0TIQX as
/ " IMITCHEI
( CITY A
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UAAdm Correspondence\Resolutions\Resolution\99-Perfomance Bond Release -Golden Corral.doc
HafionsBank
International services
PO Box 830483
Dallas TX 75283-0483
ISSUING BANK:
NATIONSBANK, N.A.
DATE:.TUNE 5, 1998
BENEFICIARY:
CITY OF TAMARAC
7525 N.W. 88TH AVENUE
TAMARAC, FLORIDA 33321
APPLICANT:
VALUE DINING INCORPORATED
6051 PALM TRACE LANDING #107
FT. LAUDERDALE, FLORIDA 33314
IRREVOCABLE STANDBY LETTER OF CREDIT NO. 933320
GENTLEMEN:
S.W.I.F.T. # NCNBUS 44 LOC
Telex Number: (MCI) 6829317
Answer Back: NCNBDAL
BY ORDER OF OUR CLIENT, VALUE DINING INCORPORATED, 6051 PALM TRACE LANDING
4107, FT. LAUDERDALE, FLORIDA 33314 WE HEREBY OPEN OUR IRREVOCABLE LETTER OF
CREDIT NO. 933320 IN YOUR FAVOR FOR AN AMOUNT NOT TO EXCEED IN THE
AGGREGATE U.S. $ 4,925.00 (FOUR THOUSAND NINE HUNDRED TWENTY FIVE AND 00/100),
EFFECTIVE IMMEDIATELY AND EXPIRING AT OUR OFFICE AT 901 MAIN STREET, 9TH
FLOOR, DALLAS, TEXAS 75202, WITH OUR CLOSE OF BUSINESS ON MAY 31, 1999.
WE ARE ADVISED THAT THIS IRREVOCABLE LETTER OF CREDIT IS TO INSURE
INSTALLATION OF PUBLIC IMPROVEMENTS INDICATED ON THE CERTIFIED COST
ESTIMATE DATED MAY 15, 1998 AND PLANS PREPARED BY FLYNN ENGINEERING AND
APPROVED BY THE UTILITY ENGINEER FOR VALUE DINING OF TAMARAC, INC. WATER
DISTRIBUTION INSTALLATION AND THE DEVELOPERS 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 PURPORTEDLY FROM THE CITY OF TAMARAC OR ITS AUTHORIZED
REPRESENTATIVES THAT:
A) THE DRAWING IS DUE TO VALUE DINING INCORPORATED FAILURE TO CONSTRUCT
THE PUBLIC IMPROVEMENTS.
PAGE 1
EXHIBIT 1
Nations8nnk
International Services
PO Box 830483
Dallas TX 75283.0483
IRREVOCABLE LETTER OF CREDIT NO 933320
S.W.I.F.T. # NCNBUS 44 LOC
Telex Number: (MCI) 6829317
Answer Back: NCNBDAL
B) THAT THE DEVELOPER'S OBLIGATIONS HAVE NOT BEEN COMPLETED AND THE CITY
OF TAMARAC HAS BEEN NOTIFIED THE BOND WILL NOT BE EXTENDED, OR
C) THAT A WARRANTY BOND THAT IS REQUIRED BY TAMARAC CITY CODE HAS NOT
BEEN PROVIDED.
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 OVERNIGHT COURIER SERVICE OF OUR
INTENT NOT TO RENEW FOR AN ADDITIONAL PERIOD, WHICH NOTICE MUST BE
PROVIDED AT LEAST THIRTY (30) 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 NOTIFICATION
THAT IT MAY BE TERMINATED.
WE ENGAGE WITH YOU THAT EACH DRAFT DRAWN UNDER AND IN COMPLIANCE WITH
THE TERMS OF THIS CREDIT WILL BE DULY HONORED ON DELIVERY OF DOCUMENTS AS
SPECIFIED IF PRESENTED TO US AT OUR 901 MAIN ST., 9TH FLOOR, DALLAS, TEXAS 75202
OFFICE.
EXCEPT AS FAR AS OTHERWISE EXPRESSLY STATED HEREIN, THIS LETTER OF CREDIT IS
SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS, 1993
REVISION, INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO, 500.
NATIONSBANK, N.A.
W Aea �'
AUTHORIZED 4)u�IGNATURE
PAGE 2
`
��
�� ons nk
UIhS DAMK:
IONSBANK, M'A'
/C NC: 93332O
MF�.D�ENT N5: 01
MEND�ENT DATE: 15JUN9O
FNEF�CIARY:
ITY OF T��ARAC
525 N'W' 88TH A AVENUE
AMARAC, FL 33321
APPLICANT:
VAL�E DINING I�CORPORATED
6051 PALM 7RACE LANDIN3 #107
FT. LAUDERDALE, FL 33314
E HEREBY AMEND THE ABOVE REFERENCED STANDBY LETTER OF
REDIT AS FOLLOWS:
N PARAGRAPH
2 STA��TING ON LINE 4
DELETE "...APPROVED
BYTHE
TILITY ENGINEER
FOR VALUE DINING
OF TAMARAC,
INC., WATER
ISTRIBUTION
INSTALLATION..." AND
INSERT "...
APPROVED BY THE
ITY ENGI�EER
FOR VALUE DINING OF
TAMARAC, INC.
PAVING, DRAINAGE,
IDEWALKS AND
CURBS IHSTALLATION...".
PARAGRAPH 7 DELETE "...PROVID6D AT LEAST THIRTY (30)
S..." AHD INSERT "PROVIDED AT LEAST SIXTY (6O) DAYS..."
�DVlSE THROUGH BANK:
)LA L OTHER TERMS THIS IS THE OPERATIVE INSTRUMENT
�HICH FORMS AN INTEGRAL PART OF LETT 32TER OCREDIAND
�HOULD BE ATTACH�:"D THERETO.
�OR ASSISTANCE PLEASE CALL CUSTOMER SERVICE AT 214-5O8-O685
--
RREVOCABLE STANDB`/ LETTER OF CREDIT NO. 933320, PAGE 1
ORIGINAL
BOND #45BSBAC9448
SUBDIVISION IMPROVEMENT WARRANTY BOND
Project Name: Value Dining of Tamarac, Inc. dba Golden Corral Restaurant__ _
KNOW ALL MEN BY THESE PRESENTS: That Steve Markle
having an address of 7401 W. Commercial Blvd., Tamarac Fl as Principals, and Hartford Fire
Insurance Company having an address of P.O. Box 94800, Maitland, Fl. 32794-8000
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 Tamarack of
Brossard County, a municipal corporation of the State of Florida, having an address of 7525 NW 88`e
Avenue, Tamarac, Florida 33321 in the full and just sum of One thousand two hundred thirty-one
Dollars and 25/100 ($1,231.25), 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
is
themselves, their heirs, executors, administrators, successors or assigns respectively, as the case may
be jointly and severally, firmly by these presents.
WHEREAS, in accordance with the terms of Section 10-156, as amended by Ordinance 93-
23, paragraph (b) of the Tamarac City Code, there is a requirement that a bond in the amount of
25% of the actual cost of the Subdivision Improvements be posted upon formal acceptance of said
Subdivision Improvements by the City of Commission, and;
WHEREAS, in compliance with said warranty bond requirements, said Principal is required
to furnish a good and sufficient bond in a surety company licensed to do business in the State of
Florida conditioned upon the correction of all insufficiencies in design, workmanship and/or
materials which are found within one year of the date of the formal acceptance of the Subdivision
Improvements by the City Commission of City of Tamarac, Florida.
NOW, THEREFORE, the condition of the obligation is such that if the said Principal, its
successors, legal representatives or assigns shall have made all corrections and shall have paid all
claims for the cost of correcting all insufficiencies in design, workmanship and/or materials
-0
discovered with one year of the date of formal acceptance of the Subdivision Improvements by the
City Commission of the City of Tamarac, Florida, then this obligation shall be void; else to continue
0 in full force and effect.
Prior to the end of the calendar year following said City Commission's formal acceptance of
the Subdivision Improvements warranted by this bond, the Director of Public Works or his designee
shall inspect them for final release. If his investigation reveals any insufficiencies, then he shall notify
the Principal, in writing, that the work is unacceptable.
The Principal and the Surety, jointly and severally, agree that said City of Tamarac shall
have the right to correct insufficiencies in design, workmanship and/or materials in the even the
Principal should fail or refuse so to do within ninety (90) days after said written notice by the
Director of Public Works, and, pursuant to public advertisement and receipt and acceptance of bids,
cause and insufficiencies in design, workmanship and/or materials to be corrected. In such case, the
Principal and Surety shall be jointly and severally liable hereunder to pay and indemnify said City
upon the correction of said insufficiencies in design, workmanship and/or materials, the final total
cost thereof, including but not limited to engineering, legal and contingent cost together with any
damage, direct or consequential, which said City of Tamarac may sustain on account of the failure of
the Principal to comply with all of the requirements hereof.
Upon recommendation by the Director of Public Works for final acceptance and upon
compliance by Principal with applicable conditions, as hereinabove stated, the Director of Public
Works will then recommend to the City Commission the release of this reduced bond, by resolution.
IN WITNESS WHEREOF, the above bounden parties have executed their instrument by affixing
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their corporate names and seals hereto and causing their authorized representatives to sign these
presents, pursuant to the authority of their governing bodies on the 30 day of March 1999.
SIGNED AND SEALED IN THE PRESENCE OF:
VALUE DINING OF TAMARAC INC.
P CIPAL
B
TITLE
HARTFORD FIRE INSURANCE CO.
BY ^r^ r
IRA H. NOVAK, ATTO T
EY--IN-FACT
�/j A"
ATTIVSTED BY
A TESTED
HARTFORD FIRE INSURANCE COMPANY
Hartford, Connecticut
POWER OF ATTORNEY
Know all men by these Presents, That the HARTFORD FIRE INSURANCE COMPANY, a
corporation duly organized under the laws of the State of Connecticut, and having its principal office in the City of Hartford.
County of Hartford, State of Connecticut. does hereby make. constitute and appoint
IRA H. NOVAK and/or NANCY O'BRIEN
of BEACHWOOD, OHIO
its true and lawful Attorney(s)-in-Fact, with full power and authority to each of said Attorney(s)-in-Fact, in their separate
capacity if more than one is named above, to sign, execute and acknowledge any and all bonds and undertakings and other
writings obligatory in the nature thereof on behalf of the Company in its business of guaranteeing the fidelity of persons
holding places of public or private trust; guaranteeing the performance of contracts other than insurance policies:
guaranteeing the performance of insurance contracts where surety bonds are accepted by states and municipalities, and
executing or guaranteeing bonds and undertakings required or permitted in all actions or proceedings or by law allowed.
in penalties not exceeding the sum of FIVE HUNDRED THOUSAND DOLLARS ($500,000.00)
each--------------------------------------------------------------------------------
and to bind the HARTFORD FIRE INSURANCE COMPANY thereby as fully and to the same extent as if such bonds and
undertakings and other writings obligatory in the nature thereof were signed by an Executive Officer of the HARTFORD
FIRE INSURANCE COMPANY and sealed and attested by one other of such Officers, and hereby ratifies and confirms all
that its said Attorney(s)-in-Fact may do in pursuance hereof.
This power of attorney is granted by and under authority of the following provisions:
(1) By -Laws adopted by the Stockholders of the HARTFORD FIRE INSURANCE COMPANY at a meeting duly called
and held on the 9th day of March, 1971.
ARTICLE IV
SECTION 8. The Presidert or any vice -President, acting with any Secretary or Assistant Secretary, shall have power and authomy to appoint, for
purposes only of executing and attesting bonds and undertakings and other writings obligatory in the nature thereof, one or more Resaerit Yce-Preaidems.
Residartt Assistant Secretaries and Attomsys-in-Fact and at any time to remove any such Resident Vice -President. Resident Assistant Secretary, or
Attorney -in -Fact. and revoke the power and authority given to him.
SECTION 11. Attorneys-in•Fact shall have power and authority, subject to the terms and limitations of the power of attorney issued to them. to
execute and deliver on behalf of the Company and to attaeh the seal of the Company thereto any and all bonds and undertakings. ano other writings
obligatory in the nature thereof, and any such istrumem executed by any such Attorney -in -Fact shall be as binding upon the Company as if signed by
an Executive Officer and sealed and attested by one other of such Officers.
In Witness Whereof, the HARTFORD FIRE INSURANCE COMPANY has caused these presents to -be signed by
its Vice -President, and its corporate seal to be hereto affixed, duly attested by its Secretary, this 15th day of October, 1992.
HARTFORD FIRE INSURANCE COMPANY
Attest J w^J
�? Lam^
Richard R. Hermanson
Secretary
STATE OF CONNECTICUT'^' Robert N. H. Sevier'
lace -President
COUNTY OF HARTFORD
On this 15th day of October, A.D. 1992, before me personally came Robert N. H. Senor, to me known, who being by me
duly sworn, did depose and say: that he resides in the County of Hartford, State of Connecticut: that he is the Vice -President
of the HARTFORD FIRE INSURANCE COMPANY, the corporation described in and which executed the above instrument:
that he knows the seal of the said corporation; that the seal affixed to the said instrument is such corporate seal; that it was
so affixed by order of the Board of Directors of said corporation and that he signed his name thereto by like order.
STATE OF CONNECTICUT //��`f%� +
sa. / V Jean H. wounaK
COUNTY OF HARTFORD Notary Arbsc
rMy Commission Expires March 31, 1994
CERTIFICATE
I, the undersigned, Assistant Secretary of the HARTFORD FIRE INSURANCE COMPANY, a Connecticut Corporation.
DO HEREBY CERTIFY that the foregoing and attached POWER OF ATTORNEY remains in full forte and has not been
revoked: and furthermore, that the Resolutions of the Board of Directors, set forth in the Power of Attorney. are now in force.
Signed and sealed at the City of Hartford. Dated the 30 day of March 19 99
David A. Johnson
Assistant Secretory
Form S-3307-7 (HFl Printed in U.S.A.