HomeMy WebLinkAboutCity of Tamarac Resolution R-96-091LJ
Temp. Reso. # 7383 - April 3, 1996
Revision #1 - April 25, 1996
Revision #2 - April 29, 1996
CITY OF TAMARAC
RESOLUTION NO. R-96--1
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF TAMARAC, FLORIDA, AUTHORIZING THE
APPROPRIATE CITY OFFICIALS TO RELEASE A ONE -
YEAR WARRANTY BOND IN THE FORM OF AN
IRREVOCABLE STANDBY LETTER OF CREDIT #528747
WITH AMENDMENT NO. 1 AND AMENDMENT NO.2 FROM
COMERICA BANK IN THE AMOUNT OF $29,515.18 FROM
LENNAR HOMES, INC., FOR THE WATER DISTRIBUTION
AND SEWAGE COLLECTION IMPROVEMENTS IN WELDON
PHASE I LOCATED ON THE NORTHEAST CORNER OF
N.W. 77TH STREET AND N.W. 96TH AVENUE; PROVIDING
FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, Lennar Homes, Inc., is constructing Weldon Phase I Project located on
the northeast corner of N.W. 77th Street and N.W. 96th Avenue (attached hereto in map
form as "Exhibit 1 ") and installed the Water Distribution and Sewage Collection System
Improvements in accordance with the Site Plan approved by the City Commission on
August 11, 1993; and
WHEREAS, City Code Section 10-156 and the Water and Sewer Developer's
Agreement accepted and executed by the City of Tamarac and Lennar Homes, Inc., on
August 11, 1993, required Lennar Homes, Inc., to provide a one-year Warranty Bond to
the City of Tamarac for the Weldon Phase I Water Distribution and Sewage Collection
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Temp. Reso. # 7383 - April 3, 1996
Revision #1 - April 26, 1996
Revision #2 - April 29, 1996
System Improvements after the release of a Performance Bond by the City Commission;
and
WHEREAS, on March 27, 1996, the City Commission authorized the release of the
Performance Bond for the Water Distribution and Sewage Collection System
Improvements and established the one-year warranty period commencing May 15, 1995;
and
WHEREAS, Lennar Homes, Inc., has requested the release of the Warranty Bond
in the form of an Irrevocable Standby Letter of Credit #528747 by Comerica Bank in the
amount of $29,515.18 issued to the City of Tamarac for the Water Distribution and Sewage
Collection System Improvements installed in the Weldon Phase I Project (attached hereto
as "Exhibit 2"); and
WHEREAS, the improvements were inspected, approved and are recommended
for acceptance by the Utilities Engineering Division; and
WHEREAS, it is the recommendation of the Director of Utilities that the Warranty
Bond be released for the Weldon Phase I Water Distribution and Sewage Collection
System Improvements; and
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Temp. Reso. # 7383 - April 3, 1996
Revision #1 - April 25, 1996
Revision #2 - April 29, 1996
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
Warranty Bond in the form of an Irrevocable Standby Letter of Credit # 528747 from
Comerica Bank in the amount of $29,515.18 for the Water Distribution and Sewage
Collection System Improvements installed by Lennar Homes, Inc., for the Weldon Phase
I Project.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA:
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: That the appropriate City Officials are hereby authorized to
release the one-year Public Improvement Warranty Bond (attached hereto as "Exhibit 2")
in the form of an Irrevocable Standby Letter of Credit #528747 with Amendment No. 1 and
Amendment No. 2 from Comerica Bank in the amount of $29,515.18 for Water Distribution
and Sewage Collection System Improvements installed by Lennar Homes, Inc. for the
Weldon Phase I Project in accordance with Section 10-156 of the City Code.
SECTION 3: That the City Clerk is hereby authorized and directed to release
to the Utilities Department the subject Public Improvement Bond for return to Lennar
Homes, Inc., after the appropriate City Officials have released the Public Improvement
Bond for the Weldon Phase I Project.
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Temp. Reso. # 7383 - April 3, 1996
Revision #1 W April 25, 1996
Revision #2 - April 29, 1996
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 6: This Resolution shall become effective immediately upon its
passage and adoption. qq
PASSED, ADOPTED AND APPROVED this.�Lday of /" l i� U
NORMAN ABRAMOWITZ
MAYOR
ATTEST:
CAROL A. EVANS, CMC
CITY CLERK
I HEREBY CERTIFY that I
Utilities/dav
CITY ATTORNEY
4
MAYOR
DIST. 1:
DIST. 2:
DIST. 3:
DIST. 4:
RECORD OF COMMISSION VOTE
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WELDROWB.DWG
WELDON PHASE 1
RELEASE OF WARRANTY BOND
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TELEX: 164366 MNB INTL DET
170363 MNB INTL DET
SWIFT: MNBD US 33
FAX: (313) 222-9115
"EXHIBIT 2"
comencA
ONE DETROIT
500 WOODWARD
MC 3341
DETROIT, MI
le-96 - q 1
CENTER
AVENUE
48226
Letter of Credit Division
IRREVOCABLE STANDBY LETTER OF CREDIT DATE: JUNE 27, 1995
NO.: 528747
AMOUNT: $29,515.18
BENEFICIARY:
CITY OF TAMARAC
7525 N.W. 88TH AVE.
TAMARAC, FLORIDA 33321
GENTLEMEN :
WE HEREBY OPEN OUR IRREVOCABLE STANDBY LETTER OF CREDIT N0. 528747 IN YOUR
FAVOR, FOR ACCOUNT OF LENNAR HOMES, INC., 700 N.W. 1077H AVE., MIAMI, FL 33172
FOR A S lvl NOT EXCEEDING TWENTY-NINE THCUSA~ND FnrE HUT NDRE0 FIFTEEN AND
18/100 U.S. DOLLARS AVAILABLE BY YOUR DRAFT AT SIGHT ON COMERICA BANK, WHEN
ACCOMPANIED BY:
* A STATEMENT SIGNED BY THE CITY OF TAMARAC OR ITS AUTHORIZED REPRESENTATIVE AS
FOLLOWS: "WE CERTIFY THAT LENNAR HOMES, INC. HAS FAILED TO CORRECT ALL
INSUFFICIENCIES IN DESIGN, WORKMANSHIP AND/OR MATERIALS WHICH ARE FOUND WITHIN
ONE (1) YEAR OF THE DATE OF THE FORMAL ACCEPTANCE OF THE SUB -DIVISION
IMPROVEMENTS OF THE CITY OF TAMARAC FOR THE INSTALLATION OF PUBLIC IMPROVEMENTS
INDICATED ON CERTIFIED COST ESTIMATE DATED APRIL 19, 1995 AND APPROVED BY THE
CITY ENGINEER FOR THE SEWER COLLECTION INSTALLATION FOR WELDON PHASE 1A (PROJECT
w881205-J) AND DEVELOPER'S OBLIGATION TO COMPLY WITH THE REQUIREMENTS OF TAMARAC
CITY CODE SECTION 10-156."
IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALi'BE DEEMED AUTOMATICALLY
EXTENDED WITHOUT' AMENDMENT FOR ONE YEAR PERIODS FROM THE EXPIRATION DATE HEREOF,
OR ANY FUTURE EXPIRATION DATE, UNLESS AT LEAST SIXTY (60) DAYS PRIOR TO ANY
EXPIRATION DATE WE SHALL NOTIFY YOU BY REGISTERED MAIL THAT WE ELECT NOT TO
CONSIDER THIS LETTER OF CREDIT RENEWED FOR ANY SUCH ADDITIONAL PERIOD. UPON
RECEIPT BY YOU OF SUCH NOTICE, YOU MAY DRAW HEREUNDER BY PRESENTING YOUR SIGHT
DRAFT DRAWN ON US WHEN ACCOMPANIED BY THE SIGNED STATEMENT AS INDICATED ABOVE OR
A STATEMENT SIGNED BY THE CITY OF TAMARAC OR ITS AUTHORIZED REPRESENTATIVE AS
FOLLOWS: "WE CERTIFY THAT WE HAVE BEEN NOTIFIED IN WRITING BY COMERICA BANK,
OF THEIR ELECTION NOT TO RENEW THEIR LETTER OF CREDIT NO. 528747 AND THAT A
WARRANTY BOND REQUIRED BY THE TAMARAC CITY CODE HAS NOT BEEN PROVIDED
ALL DRAFTS DRAWN UNDER THIS CREDIT MUST BE MARKED "DRAWN UNDER COMERICA
BANK'S LETTER OF CREDIT NO. 528747."
THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY
CREDITS (1993 REVISION), INTERNATIONAL CHAMBER OF COMMERCE, PUBLICATION NO. 500.
THIS ORIGINAL LETTER OF CREDIT AND ALL AMENDMENTS THERETO MUST BE SUBMITTED
TO US TOGETHER WITH. ANY DRAWINGS HEREUNDER FOR OUR ENDORSEMENT OF ANY PAYMENTS
EFFECTED BY US AND/OR FOR CANCELLATION.
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 THE DOCUMENTS AS SPECIFIED
IF PRESENTED AT THIS OFFICE ON OR BEFORE JUNE 26, 1996 OR ANY AUTOMATICALLY
EXTENDED DATE.
YOURS VERY TRULY,
AUTHORIZED
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TELEX: 3772134 MNB INTL DET
164366 MNB INTL DET
SWIFT: MNBD US 33
FAX: (313) 222 - 9115
AMENDMENT TO LETTER OF CREDIT
DULY 24, 1995
BENEFICIARY:
CITY OF TAMARAC
7525 N.W. 88TH AVE.
TAMARAC, FL, 33321
Letter of Credit Division
ONE DETROIT CENTER
500 WOODWARD AVENUE
P.O. BOX 75000
DETROIT, MI 48275-3341
CREDIT NUMBER OF
ISSUING BANK: 528747
APPLICANT:
LENNAR HOMES, INC.
700 N.W. 107TH AVE.
MIAMI, FLORIDA 33172
AMENDMENT NUMBER: 01
THIS AMENDMENT IS TO BE CONSIDERED AS
PART OF THE ABOVE CREDIT AND MUST BE
ATTACHED THERETO.
GENTLEMEN: .-
IN ACCORDANCE WITH INSTRUCTIONS RECEIVED FROM OUR PRINCIPALS,
CAPTIONED CREDIT HAS BEEN AMENDED AS FOLLOWS: THE ABOVE
PLEASE NOTE THE FOLLOWING ADDITION:
THE SEVENTH LINE OF THE SECOND PARAGRAPH MUST NOW READ AS FOLLOWS: 11 . CITY
ENGINEER FOR THE SEWER COLLECTION INSTALLATION & WATER DISTRIBUTION FOR
WELDON PHASE 1A (PROJECT..."
ALL OTHER TERMS AND CONDITIONS REMAIN
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TELEX: 3772134 MNB INTL DET
164366 MNB INTL DET
SWIFT: MNBD US 33
FAX: (313)222-9115
AMENDMENT TO LETTER OF CREDIT
AUGUST 22, 1995
BENEFICIARY:
CITY OF TAMARAC
7525 N.W. 88TH AVE.
TAMARAC, FL 33321
GMM
Letter of Credit Division
ONE DETROIT CENTER
500 WOODWARD AVENUE
P.O. BOX 75000
DETROIT, MI 48275-3341
CREDIT NUMBER OF
ISSUING BANK: 528747
APPLICANT :
LENNAR HOMES, INC.
700 N.W. 107TH AVE.
MIAMI, FLORIDA 33172
AMENDMENT NUMBER: 02
THIS AMENDMENT IS TO BE CONSIDERED AS
PART OF THE ABOVE CREDIT AND MUST BE
ATTACHED THERETO.
GENTLEMEN:
IN ACCORDANCE WITH INSTRUCTIONS RECEIVED FROM OUR PRINCIPALS, THE ABOVE
CAPTIONED CREDIT HAS BEEN AMENDED AS FOLLOWS:
PLEASE NOTE THE FOLLOWING ADDITION:
THE SEVENTH LINE OF THE SECOND PARAGRAPH MUST NOW READ AS FOLLOWS: ..CITY
ENGINEER FOR THE SEWER COLLECTION INSTALLATION & WATER DISTRIBUTION FOR
WELDON PHASE 1 (PR0jECT...it
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.
jj YkRY TRULY
COMERI^ "
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