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Home My WebLink AboutCity of Tamarac Resolution R-95-009Temp. Reso. #6954 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-95-_�a A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE A WARRANTY BOND, STANDBY LETTER OF CREDIT #SM- 34684-093 IN THE AMOUNT OF $6,925.37, POSTED FOR PUBLIC IMPROVEMENTS AT PARK PLACE THERAPEUTIC CENTER II; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFE TIVE DATE. WHEREAS, Park Place Therapeutic Center, Ltd. II, as Principal, with Nations Bank, as Surety, has filed with the City Letter of Credit #SM-34684-093 in the amount of $6,925.37 to warranty public improvements at Park Place Therapeutic Center II; and WHEREAS, it is the recommendation of the Public Works Director that the Warranty Bond be released. 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 this Warranty Bond, Standby Letter of Credit #SM-34684-093 in the amount of $6,925.37, posted for Public Improvements. The facilities have been inspected and found acceptable by the Public Works/Engineering Division. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: SECTIQN 1: That the Letter of Credit #SM-34684-093 posted by Park Place Therapeutic Center, Ltd. II, as Principal, with Nations Bank, as Surety, in the amount of $6,925.37 for public improvements at Park Place Therapeutic Center II is HEREBY RELEASED. 1 C 1 Temp. Reso. # 6954 SECTION 2: That the appropriate City Officials are hereby authorized to execute the release of a Warranty Bond, Standby Letter of Credit #SM-34684-093 in the amount of $6,925.37 posted for public improvements. SECTION 3: That the City Clerk is hereby authorized and directed to record said agreement in the public records of Broward County. SECTION 4: All Resolutions or parts of Resolutions in conflict herewith are hereby repealed to the extent of such conflict.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 portion or applications of this Resolution. SECTION 5: This resolution shall become effective immediately upon adoption. PASSED, ADOPTED AND APPROVED thisa5 day o#��. , 1995. ATTEST: CAROL A. EVANS, CMC CITY CLERK GES:mf RTIFY that I have Resolututn as tTCHELL S. KRA°F CITY ATTORNEY -2- N ABRAMOWITZ MAYOR RECORD OF COM MAYOR ABRAMOWITZ J DIST. 1: V / M KATZ DIST. Z; COMM. MISHKIN DIST. 3: COMM. SCHREIBEF DIST. 4: _COMM, MACHEK VOTE � �� ~ �2 �� /l �� ' ` ' �/ - _7 '� `^ / ��N��R�V�v~��= '- �_ `"�}\� .�k�rn,'��:ni�o^� �u�� "iJ� `�� |`�`�R.«,|,«2! �[ami��^'��: :�i"i��`/��i�� T,!,nh":c(xo�}��0:2� '��|ec�o�.�x;,`�\.`�.,,n�}U.. /J��mJT~�� C�^��J�� `^,�o�"^^" / � ~~ ~ ' ^ `--- ��`. - . � ` �� ^�� - ,� �`,'' . '\~ . �� -�� ~~ I��EVG��BLE �TANDBY LE�TER �F C��IT AMENDMENT DATE: �3�AN9� L,C NUMBER: SM-34664-093 APPLICANT: �ARK PLACE THERAPEUTIC CENTER LTD. II 7171 N. �NIVERSITY DRIVE TAMAR�C, FLORIDA BENEFICIARY: CITY OF TAMARAC 5811 N.W. 88TH AVENUE �AMA�AC` FL 33321 THE �BOVE CREDIT IS AMEND�D A� FOLL��S: - «AL�DITY DATE EXTENDED TO: 11FE�95 - �HIS �REDIT IS DECREASE BY: *�**�** �20,776.13 NEW AMOUNT AFTER DECREASE: ******* $ 6,925'37 AMENDMENT NO. 02 ALL OTHER TERMS AND CONDITIONS �� THE CREDIT REMAIN UNCHANGED. THIE ADVICE OF AMENDMENT IS TO BE CONSI�ERED A PART O� THE ORIBINAL CREDIT AND MUST BE ATTACHED THERETO. �� m� NATIONSBANK OF FLORIDA, N.A' �� '^kU��~ \3Ux�°� ` ' /��— � `-��~� � -/ ~ �O/ �dqmw' �� - ~~~~= �~ g0�J��6Btnm�23ni��or2�i*��r�u33l3O �O.BnzOz9O2�.2V��i3Oohdo83lOz'98%�U.�� REY�CABLE �TAND5�/ LETTE� �F ��E�IT AMEMD�ENT DATE: �9FEB93 L,�C ��MBE�: S�-34684—�93 APpL�CANT: `� c� PARK oLACE T�ER�PEUTIC CENTE� LTD. II m� �171 /'�. UNIVER�ZTY DRIVE rAMAP�C, FLORID� �ENEFICIARy: �ITY /�F �4MARAC 5811 N.W. 88TH AVENUE FAMARAC, FL 33321 THE ABOVE CREDIT IS AMENDED AS FOLLOWS: �� — AMOUNT OF THIS CREDIT IG USD27,7�1.50 — PARAGRAPH TWO NOW TO READ: A STATEMENT PURPORTE�LY SlGNED BY THE CITY OF TAMARAC OR ITS AUTHORIZED REPRESENTATIVE A� FOLLOWS: `WE CERTIFY THAT PARK PLACE THERAPEUTIC CENTE� LTD. [I, FAILED TO CCMPLETE THE INGTALLATI�N OF �UBL�C �MPROVEMENTS INDICATED ON CERTIFIE� COST EGTIMATE DATED NOVEMBER �0, 1992 AND ON PLANS PREPARED BY PARKER ENGINEERING CONSULTING ENGINEERB �ND ApPROVED BY THE CITY ENGINEER FOR WATER DISTRIBUTION �ND SEWAGE COLLECTIOW INSTALLATION FOR THE �ARK pLACE THERAPEUTIC CENTER PROJECT'S OBLIGATION TO COMPLY WITH THE REOUIREMENTS �F T�MARAC �ITY CODE �ECTZON 10-156 HAS NOT BEEN MET." — UNDER PARAGRAPH THREE THIRD/FOUTH �INE: �ELETE: THIRTY (30> AND INSERT: SIXTY (6N) AMENDMENT NO. �1 �LL 3THER -ERMS AND CONDITIONS OF THE CREDIT REMAIN UNCHANGED. THIS ADVICE OF AMENDMENT IS TO BE CONSIDERED A PART OF THE ORI�IM�L CREDIT AND MUST BE ATTACHED �HERETO. mATIONSBANK OF FLORIDA, �.A. Naflons ,' ,„.. 0 Dri inai 80 S.W. 8th Street, 23rd Floor, Miami, Florida 33130 P.O. Box 019624. Miami, Florida 33101-9624 U.S.A. Telephone: (305) 358-0327 Telex: Graphnet 3728042 NationsBKINTL MIA S.WI.ET.: NABKUS3B ISSUE DATE: ,. EFEB9w _ L/C NUMBER: `aM-,:,4684-093 BENEFICIARY: APPLICANT. :..�_ CITY � TAMARAC PART. PLACE THERAPEUTIC T IC CENTER LTD. 11 5811 N.W. 36 AVENUE 7171 N. UNIVERSITY DRIVE TAMARAC, FL 333al TAMARAC, FL AMOUNT: 181327,701.20 EXPIRY DATE .-•• PLACE IIFEB94 OUR COUNTERS WE HEREBY OPEN OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. SM-34684-093 N YOUR FAVOR FOR ACCOUNT OF PARK PLACE THERAPEUTIC CENTER LTD. II, 7171 N. UNIVEASITY ORIVE, TAMARAC FL FOR A SUM NOT EXCEEDING TWENTY SEVEN THOUSAND SEVEN HUNDRED ONE AND 50/100 U. S. DOLLARS AVAILABLE BY YOUR CRAFT qT SIGHT ON NAT I ONSBANK. OF FLORIDA, N. A. WHEN ACCOMPANIED B Y ., H=TAiC=:i` EN T PURPC RT-DLY SIGNED BY THE CITY OF TAMARAC OR ITS AUTHORIZED REPRESENTATIVE RESEt+dTATIVE AS FOLLOWS: "WE CERTIFY THAT PARK PLACE "THERAPEUTIC CENTER T_, '0 v I r P I LED TO COMPLETE THE r NSTALLAT I ON OF PUBLIC IMPROVEMENTS I AD I CAT D ON CERTIFIED COST ESTIMATE DATED NOVEMBER 10 1992 AND ON FLANS PREPARED SY PARKER ENGINEERING CONSULTING ENGINEERS ANb APPROVED BY THE CITY ENGINEER FOR SEWAGE COLLECTION INSTALLATION FOR THE PART. PLACE THERAPEUTIC CENTER PRO.J'ECT'[OBLIGATION TO COMPLY WITH THE REQUIREMENTS OF TAMARAC CITY CODE SECTION 10-158 HAS NOT BEEN MET.'' IT 13 A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE DEEMED AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ONE YEAR PERIODS FROM THE EXPIRATION DATE OR ANY FUTURE EXPIRATION DATE, UNLESS AT LEAST THIRTY 410 (30) 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 FOLLWOS "WE CERTIFY THAT WE HAVE BEEN NOTIFIED IN WRITING BY NATIONSBANK OF FLOWDA N.A. OF THEIR ELECTION NOT TO RENEW THEIR LETTER OF CREDIT NO. SM-34E,84-693 AND THAT A WARRANTY BOND REQUIRED BY THE TAMARAC CITY CODE HAS NOT BEEN PROVIDED". OLL DRAFTS DRAWN UNDER THIS CREDIT MUST BE MARKED "DRAWN UNDER NATTONSBANK OF FLORIDA, N. A. LETTER OF CREDIT NO. SM-346a4-093". THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS c1983 REVISIONK INTERNATIONAL CHAMBER OF COMMERCE, PUBLICATION NO. 400. 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 FHIS CREDIT WILL BE DULY HONORED ON DLIVERY OF THE DOCUMENTS AS SPECIFIED IF PRESENTED AT THIS OFFICE ON OR BEFORE 11FED94 OR ANY AUTOMATICALLY EXTENDED DATE. NAT IONSBANK OF FLORIDA, N. A. , M I AM I, FLORIDA 33130 USA / "II AUTHORIZED SIGNATURE � 9