HomeMy WebLinkAboutCity of Tamarac Resolution R-2000-009December 16, 1999 -Temp. Reso. # 8870
Page 1 of 3
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2000-O 9
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF TAMARAC, FLORIDA, AUTHORIZING THE
APPROPRIATE CITY OFFICIALS TO RELEASE WARRANTY
BOND (LETTER OF CREDIT #S980755) IN THE AMOUNT OF
$16,817.50 POSTED FOR THE DRAINAGE LOCATED AT
THE SOUTHWEST CORNER OF NW 80TH STREET AND
GRANVILLE DRIVE; PROVIDING FOR CONFLICTS;
PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, Lennar, Inc. with Suntrust as Surety, has filed with the City a warranty
bond (Letter of Credit # S980755) in the amount of $16,817.50 to guarantee construction
of drainage located at the Southwest corner of NW 80" Street and Granville Drive; and
WHEREAS, the drainage has been inspected and found acceptable by the Public
Works Engineering Division; and
WHEREAS, pursuant to City Code Section 10-156, this warranty bond has remained
in place for the required one (1) year period; and
WHEREAS, it is the recommendation of the Public Works Director and the DRC
Engineer that the warranty bond be released; 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 warranty
bond (Letter of Credit # S980755) in the amount of $16,817.50, posted for the drainage
located at the Southwest corner of NW 80t" Street and Granville Drive.
U:\engineering\Resolutions\8870REs-Exeter West Drainage.doc
December 16, 1999 -Temp. Reso. # 8870
Page 2 of 3
u
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.
SectiQn 2: The appropriate City Officials are hereby authorized to release the
warranty bond (Letter of Credit # S980755) in the amount of $16,817.50 posted for the
drainage located at the Southwest corner of NW 80th Street and Granville Drive.(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hereby repealed to the extent of such conflict.
SectiQn4: 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 : This Resolution shall become effective immediately upon its passage
and adoption.
U:\engineering\ResolutionsN8870RES-Exeter West Drainage.doc
December 16, 1999 -Temp. Reso. # 8870
Page 3 of 3
1
PASSED, ADOPTED AND APPROVED thisYday of 2000.
JOE SCHREIBER
MAYOR
ATTEST:
CAROL GOB CMC/AAE
CITY CLERK
I HEREBY CERTIFY that I have
gpproved this RESOLUTION as
to flork / I �
HTCHELL S. KI
CITY ATTORN
RECORD OF COMMISSION
MAYOR SCHREIBER
DIST 1:
COMM. PORTNER
DIST 2:
V/M MISHKIN
DIST 3;
COMM. SULTANOF
DIST 4:
COMM. ROBERTR
U:\engineering\Resolutions\8870RES-Exeter West Drainage.doc
Lk.: 4 VC A - 611 [1
SuNTRusT
SUNTRUST BANK, MIAMI, N.A.
IRRBVOCABI,E STANDBY LETTER OF CREDIT NO. S960755
NOVEMBER 30,1998
BENEFICIARY: APPLICANT:
CITY OF TAMARAC LENNAR HOMES, INC.
7525 N.W. BOTH AVE. 700 NW 107TH AVENUE
TAMARAC, FL. 33321 MIAMI, F1s 33172
AMOUNT: USD 16,617.50
DATE OF EXPIRY NOVEMBER 30, 1999.
PLACE OF EXPIRY: AT OUR COUNTERS
WE HEREBY OPEN OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO.
S9607SS IN YOUR FAVOR, FOR ACCOUNT OF LENNAR HOMES, INC., 700
N.W. 107TH AVENUE, MIAMI, FL. 33172 FOR A SUM NOT EXCEEDING
USD16,917,50 (5IXTEEN THOUSAND EIGHT HUNDRED SEVENTEEN AND
50/100 U.S. DOLLARS) AVATI,ABLE BY YOUR DRAFT AT SIGHT
ON SUNSTRUST BANK, MIAMI, N.A_, WHEN ACCOMPANIED:;
:
"A STATEMENT SIGNED BY THE CITY OF TAMARAC OR ITS AUTHORIZED
1'
REPRESENTATIVE AS FOLLOWS: "WE CERTIFY TIIAT LENNAR HOMES, INC.
HAS FAILED TO CORRECT ALL INSUFFICIENCIES IN DESIGN, WORKMANSHIP
AND/OR MATERIALS WHICH ARE FOUND WITHIN ONO l i l YEAR OF THE DATE
i e
OF THE FORMAL ACCEPTANCE OF THE SUB -DIVISION IMPROVEMENTS OF THE
CITY OF TAMARAC FOR THE INSTALLATION OF PUBLIC IMPROVEMENTS
r
INDICATED ON CERTIFIED ACTUAL COST DATED NOVEMBER, 1998 AND
APPROVED BY THE CITY ENGINEER FOA THE: STORM DRAINAGE
INSTALLATION FOR VXETER WEST PORTION (PROJECT 0881205D) AND
DEVELOP8R'S OBLIGATION 'ro COMPLY WITH THE REQUIREMENTS OF
1•{t
TAMARAC CITY CODE SECTION 10-156."
A*,
i
IT IS A CONDITION OF THIS LETTER OF CRISDIT THAT IT SHALI, BE
DEEMED AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ONIS YEAR
PERIODS FROM THE EXPIRATION DATE: IEEREOF, OR ANY FUTURE
EXPIRATION GATE, UNLESS AT LEAST SIXTY (60) DAYS PRIOR 1.0 ANY
EXPIRATION DATE WE SHALL NOTIFY YOU BY REGISTERED MAIL oR
COURIER 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 PRESENTING YOUR SIGHT
DRAFT DRAWN ON US WHEN ACCOMPANIED BY THE SIGNED STATEMEN-r AS
INDICATED ABOVE OR A STATEMENT SIGNED BY THE CITY OF TAMARAC OR
ITS AUTHORIZED RE PREdSENTA'rlVE AS FOLLOWS- "WE C'EsRTIFY THAT WE
HAVE BEEN NOTIFIED IN WRITING BY SUNTRUST HANK, MIAMI, N.A.
OF THEIR ELECTION NOT TO RENEW —HEIR LE T,= OF CRE:UIT NO.
S980755 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
SUNTRUST BANK, MIAM1, N.A. LETTER OF CREDIT NO. S980755."
IT /L 390d
All correspondence and communication should be directed to our ayam SunTnisl Internalional Sarvicas, Inc., 3737 N.W. 871h
Avanue, 1st Floor, Miami, Florida 33178 Swlil: SNTRU3M Telex; 542210
8LTV zL6 VS6:Xdd SSOaO a0i3 Nd NUHUNNO :QI 6S:£T 66. £T/80 088'ON 31Id
•
•
•
$1KNbVu'7ECT 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 HBRSUNDER FOR OUR
ENDORSEMENT OF ANY PAYMENTS EFFECTED BY US AND/OR FOR
CANCELLATION.
WE ENGAGE WITH YOU THAT EACH DRAFT DRAWN UNDER AND IN STRICT
COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER OF
CREDIT WILL BE DULY HONORED ON DELIVERY OF THE DOCUMENTS AS
SPECIFIED IF PRESENTED AT THIS OFFICE ON OR BEFORE NOVEMBER
30,1999 OR ANY AUTOMATICALLY EXTENDED DATE.
/ �ssi Vic �sid�nt
t -za • %�C� Senrices
AUT
HORIZED 82d JR8
SUNTRUST INTL. SERVICES, INC.
AS AGENT FOR
SUNTRUST BANK, MIAMI, N.A.
307
All correspondence xnd communication shot-ld be directed 10 our agent SunTrusl International Services, Inc., 3737 N.W. 87lh
Avenue, Iat Floor, Miami, Florida 33178 5w111; SNTRU3M Tolex: 942210
11 /8 36dd 8LTV &6 V56 : Xdd SSM10 d iXad N1;IHdN�1d3: Q I 65 : S T 66, £ T /80 088' ON 3-11 d