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Home My WebLink AboutCity of Tamarac Resolution R-2000-012December 17, 1999 -Temp. Reso. # 8875 Page 1 of 3 `1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2000-/c;PL A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE WARRANTY BOND (LETTER OF CREDIT #960556) IN THE AMOUNT OF $9,151.00 POSTED FOR SIDEWALK AND CURBING LOCATED ON NW 80TH STREET WEST OF NOB HILL ROAD; 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 # S960556) in the amount of $9,151.00 to guarantee construction of sidewalk and curbing located on NW 80" Street West of Nob Hill Road; and WHEREAS, the sidewalk and curbing 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 # S960556) in the amount of $9,151.00, posted for sidewalk and curbing located on NW 80th Street West of Nob Hill Road. U:\engineering\Resolutions\8875RES-Kings Pointe 80th St.doc December 17, 1999 - Temp. Reso. # 8875 Page 2 of 3 1 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. Section 2: The appropriate City Officials are hereby authorized to release the warranty bond (Letter of Credit # S960556) in the amount of $9,151.00 posted for the sidewalk and curbing located on NW 801h Street West of Nob Hill Rd. (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 Section 3: That all Resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict.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. U:\engineering\Resolutions\8875RES-Kings Pointe 80th St.doc December 17, 1999 -Temp. Reso. # 8875 Page 3 of 3 1 PASSED, ADOPTED AND APPROVED this _day 2000. 61 JOE SCHREIBER MAYOR ATTEST: CAROL GOLD; C /AAE CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTION as IITCHELL�? K CITY ATTORN RECORD OF COMMISSI N VOTE MAYOR SCHREIBER DIST 1 : COMM. PORTNER DIST 2: V/M M SHKIN DIST 3: COMM. SULTANOF DIST 4:COMM U:\engineering\Resolutions\8875RES-Kings Pointe 80th St.doc SuNTRUST OCABLE LETTER Or CREEDIT NUMBER S960556 13, 1997 :T'Y OF i 2 5 N.W. 9TH AVENUE 114ARAC, FL. 33321 s OUR IRREVOCABLE LETTER OF CREDIT ISSUED: JULY 17, 1996 CURRENT BALANCE: 9,151.00 U.S. DOLLARS ACCOUNT PARTY: LiNNAR HOMES, INC. NEW EXPIRATION DATEi JULY 17, 1998 AR CITY OF TA.MARAC 19 I9 TO NOTIFY YOU THAT THE ABOVE REPHRENCED LETTER Or ZDIT HAS.BBEN RENEWED FOR AN ADDITIONAL, PERIOD AS STATED THE TEEMS AND CONDITIONS OF THE LETT1lER Of CREDIT. IS IS A NOTIFICATION ONLY AND I5 NOT AN AMENDMENT TO THE tGINAL LETTER OF CREDIT. HAVE ANY QUESTIONS CONCERNING THIS LETTER OF CREDIT CALL OUR LETTER Of CREDIT DEPARTMENT AT (305) 591— REFERRING TO OUR NNW LETTER or CREDIT NUMBER S960556 10-ASNEWAL NOTICE. PHORIBED SIGNATURE 3 LENNAR HOMES, INC.. -700 NW 107TH AVENUE MIAHI, FL .33172 All correspondence and communication should be directed to our agent SunTruat Intonational Services, Inc„ 3737 N.W. 871h Avenue, Miami, F1oAda 3311g Swift: SN9OUS3M Telex: 6734609 [ /9 3Sdd 8LTV aZ6 VS6: Xd3 SSW N013MId WHUNNUO: Q I 6S: ST 66, 81/80 088' ON 31I3 t l� BOND NOT FOR COMMISSION ACTION96 AUK; 2 r5 � . 04 Item Title: Qjh ETREF.T C " To accepton SunTru CITY CIERIt Bank Letter of Credit #S9 �d f' " Improvements on N.W. 80th Street, west of Nob Hill Rgad,_ The Initiating Department Head is to mark an "X" between the parentheses ( ) below for each department that must initial their approval in order for this item to be accepted by City. Department nits Is for Aonroval aft bate (2) City Attorney AI "6 ( ) Building Dept. () Community Dev. (3) City Clerk ( 1) Eng./Public Works ( ) Finance/Purchasing ( ) Fire ( ) Personnel/Risk 713c> ( ) Parks and Recreation ( ) Utilities Date: This form is to be completed prior to all backup being forwarded to the City Clerk. Copy City Clerk with original document and copy of Salmon Sheet. City Attorney with copy if document and original Salmon Sheet. Revised document 3/19/96-bi /d�' June A White From: Marion Swenson Sent: Wednesday, July 05, 2000 3:01 PM To: June A White Subject: Lennar Homes Letter of Credit I spoke with Becky at Lennar Homes, 8190 State Road 84, Davie, FL 33324, (954) 370-0003, Ext 172) regarding Letter of Credit 960556 in the amount of $9,151. She said she got a copy of the resolution and the renewal notice. She needs the original letter of credit back. Would you please follow up and see where the original is and why she did not get it. thanks. M. wo December 17, 1999 - Temp. Reso. # 8875 Page 1 of 3 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2000-/6'4 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE WARRANTY BOND (LETTER OF CREDIT #960556) IN THE AMOUNT OF $9,151.00 POSTED FOR SIDEWALK AND CURBING LOCATED ON NW 80TH STREET WEST OF NOB HILL ROAD; 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 # S960556) in the amount of $9,151.00 to guarantee construction of sidewalk and curbing located on NW 801h Street West of Nob Hill Road; and WHEREAS, the sidewalk and curbing 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 # S960556) in the amount of $9,151.00, posted for sidewalk and curbing located on NW 801h Street West of Nob Hill Road. U:\engineering\Resolutions\8875RE5-Kings Pointe 80th St.doc December 17, 1999 - Temp. Reso. # 8875 Page 2 of 3 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA THAT: SegtiQn1: 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 warranty bond (Letter of Credit # S960556) in the amount of $9,151.00 posted for the sidewalk and curbing located on NW 80" Street West of Nob Hill Rd. (a copy of the Letter of Credit is attached hereto as "Exhibit 1 ") Section 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 2, This Resolution shall become effective immediately upon its passage and adoption. U:\engineering\Resolutions\8875RES-Kings Pointe 80th St.doc December 17, 1999 - Temp. Reso. # 8875 Page 3 of 3 PASSED, ADOPTED AND APPROVED this -�-- - day 2000. JOE SCHREIBER MAYOR ATTEST: CAROL GOLD, C /AAE CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTION as lITCHEU,V KI CITY ATTORN RECORD OF CGMMISSI N VOTE MAYOR SCHREIBER DIST 1: COMM. PORTNEA DIST 2: V/M MISHKIN DIST 3: COMM. SULTANOF DIST 4: COMM. ROBE U:\engineering\Resolutions\8875RES-Kings Pointe 80th St.doc No Text r . 14 T SC7NTRUST BANK, MIAMI, N.A STANDBY OF E IRREVOCABL. LETTER CREDIT DULY 17�'1��6` BLNEFICI'•ARYt APPL:ICANT.;, CITY OF TAMARAC LENNAR HOMES, INC. !752.5 N.WW 88TH AVE. ; 700 NW 107'TH AVENUE MIAMI, FLORIDA 33321 MIAMI, FL 33172 AtTNt CITYCLERK AMOUNT: USD 1 51.OQ T9AlE' OF-EkPIRy "t, ' 1yyj�1P� PLACE OF EXPIRY:. AT OUR COUNTERS WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF .CREDIT NUMBER 5960`556 IN' YOUR FAVOR FOR THE ACCOUNT OF LENNARHOMES, INQ... WHICH ISAVAILABLE.,WITH SUNTRUST.BANK, MIAMI N.A. 3737 NW .�r. 87 AVE., MIAMI, FL. 3317E ATTN: LETTERS OF 'CREDIT DEPARTMENT BY ^' PAYMENT ,; AGATN5T DOCUMH,NTS DETAILED HEREIN AND YOUR p�tAFT (S) AT S1'GTTT DRAWN ON SUNBAkk/MIAMI' N.A. UP TO AN'' AGGREGA'TE'' AMOUNT OF 'f USD:,9"0151.00 (NINE THOUSAND ONE HUNDRED FIFTY ONE -AND 00✓100 U.S. r-r DOLLARS):., WITHOUT OBLIGATION"ON OUR PART, WE ARE ADVISED THAT'THIS ;,-IRREVOCABLE LETTER OF CREDIT IS TO ,ENSURE THE CORRECTION OF ALL ' INSUFFICIENCIES IN DESIGN, WORKMANSHIP AND/OR MATERIALS WHICH" Ate, FOUND WITHIN (°,) YEAR OF1,THE DATE OF THE FORMAL ACGEPTANG OF THE SUB —DIVISION IMPROVEMENTS OF THE'CI'TY OF TAMARAC FOR THE IN:3TALLATION.,OF PUBLIC IMPROVEMEN-TS;INi?ICATED ON ::CERTIFIED :,COST ESTIMATE DATED FEBRUARY 12, 1996 AND APPROVED BY THE CITY EN01,NEER: FOR ,OFFSITE r61DEWEi AND 'C�UsiBING FQR� �i��1 B ��YfS,T'REETI1, DEVELOPER'S OBLIGATION TO COMPLY WITH THE REQUIREMENTS OF TAMARAC7>IICITY f.QQTJF'a' SECTION=1-156. ,, TRE, CITY' I$'AUTHORTZVDR TO DRAW :DRAFTS ,AT SIGHT !ACCOMPANIED BY A � ,r SIGNED STATEMENT FROM THE CITY OF TAMARAC OR IT'S AUTHORIZED REPRESENTATIVE THAT: "VHE'%UNDERSI'GNED, :AN::AUTHOR;ZED•: �•N REPRESENTATIVE OF THE CITY OF TAMARAC, HEREBY CERTIFIES THAT: AP THE DRAWING IS" 'DUE- TO LENNAR HOMES,'' INC." S FAILURE TO CORRECT ALL INSUFFIENCTES IN DESIGN, WORKMANSHIP AND/OR MATERIAL'S WHICH ARE FOUND, WITHIN 'ONE (1') YEAR OF"THE'-DATE OF THE FORMAL ACCEPTANCE OF THE PUBLIC IMPROVEMENTS BY THE CITY COUNCIL OF'``'THE CITY OF TAMARAC, OTT (''B) THAT THE DEVELOPER'S 'OBLIGATIONS HAVE NOT,, BEEN, COMPLETE , OR THE (CITY OF TAMARAC HAS BEEN NOTIFIED THAT" BOND WIN''NOT BE Ekti=ED. OR` (C) 'HAT' THE CITY OF TANARAC.,,HAS BEEN NOTIFIED THAT ,,THE HONK WILL NOT.,BE EXTENDED" CONTINUED ON NE,XT;;PAGE o correspon ence an communication should be directed to our agent SunTrust international Services, Inc., 3737 N.W, 87th Avenue, Miami, Florida 1 i8 Swift: 'SNBOUS3M Telex: 6734609 a. IRREVOCABLE LETTER OF ?'CREDIT NO. S,9605,56 T'SETS 'FORTH IN FULL THE TERMS OF OUR UNDERTAKING SHALL ,NOT IN ANYWAY BE "IED'�,*AMEIDIEII , "14bbl' OR AMPLIFIED BY"' REFERENCE T6 "ANY D06TIMENT(S) IN.9TRU= . .... . 4T(S REFERRED T,,Q,HERSIN', OR IN WHICH 4 OR,, AGREXM9NT (S)- 'TS`RtFERRtD' THIS LETTER CREDIT" TO OR THIS LETTER OF CREDIT RELATES,, AND ANY, SUCH, REFERENCE SHALL,NOT BE DEEMED, TO,, 'INCORPORATE 'HEREiN''tY"'REFERENCE ANY DOCUMENTS, 'INSTRUMENTS, OR CREDIT,,MUST BE, PRESENTED WITH ANY DRAWING HEREUNDER. DRAFT(S) UNDER THIS LETTER MUST BE MARKED "DRAWN UNDER LETTER OF CREDIT NUMUR,! S9605156.!' THIS LETTER ;QF'CREDIT,;SHAI;L BE AUTOMATICALLY RENEWED: WITHOUT AND AMENDMENT FOR SUCCESSIVE PERIODS OF ONE (1) YEAR EACH UNLESS WE VROVTDE',WRITTEN NOTICE, TO;THECITY CLERK VIA REGISTERED MAIL, OR, SPECIAL COURIER, THAT WE ELECT NOT TO RENEW THE CREDIT FOR AN PERIOD, WHICff,'NOTICE;MUST BE'PROVIDED'AT LEAST,SIXTY (60) DAYS PRIOR TO EXPIRATION DATE OF THE ORIGINAL TERM HEREOF TkMARAC'REtURNS tHg'��'ORIGINAL' ,,tETTER'i6FCREDIT, TOGET8EkVITH WRITTE ' N NOTIFICATION THAT IT MAY BE TERMINATED PRIOR TO THE 'THEN tt AR 'I 'ENT :, EXPIRATION:: DATE. WE` 9'NGAdt` WITH YOU' THAT YOUR:, " DRAFTS 'DRAWN UNDER,, AND IN STRICT COMPLIANCE WITH THE TERMS OF THIS CREDIT WILL BE DULY HONORED IF PRESENTED TOt&`ON OR BEFORE tHt"EXPIRATION 'DATE 'OF THIS, CREDIT EXTENDED PATE, AS PA QVIDED HEREIN. 'OR.ANY EXCEPT-SQ FAR -AS, OTHERWISE STATED, THIS CREDIT IS SUBJECT, TO THE 1:M "UN'ItOPi4 CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS', (1995 REVISION) , INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION 500, OR REVISION' CURRENTLY IN EFFECT.Fr -WNATURF PfUTHOR`IZEQ ,SUNTRUST INT'L SERVICES ACTING AqENTS,<,VOR"ZUNTRUST- BANK MIAMI, N.A. 32,2-', MAPUN APAN T,N ",:,�ASSIS ICEPRESIDN LME E PS OF CR- pjT,,,,QEp T, re - UST IRLVOCABLE LETTER OF CR,E011 NUMBER S960556 1Y 13, 1997 :TY OF i 2 5 N.W. l3TH AVENUE �MARAC, FL. 33321 OUR IRREVOCABLE LETTER OF CREDIT ISSUED; JULY 17, 1996 CURRENT BALANCE: 9,131.00 U.S. DOLLARS ACCOUNT PARTY: LBINNAR HOMES, INC. NEW EXPIRATION DATZi JULY 17, 1928 AR CITY OF TAMARAC I9 18 TO NOTIFY YOU THAT THE ABOVE REFERENCED LETTER OF SUIT HAS, BEEN RENEWED FOR AN ADDITIONAL, PERIOD AS STATED THE TERMS AND CONDITIONS OF THE LETTER Or CREDIT. IS IS A NOTIFICATION ONLY AND IS NOT AN AMENDMENT TO THE tGINAL LETTER OF CREDIT. YOU HAVE ANY QUESTIONS CONCERNING THIS LETTER OF CREDIT 3ASE CALL OUR LETTER Of CREDIT DEPARTMEFIT AT (305) 591- 30, REFERRING TO OUR NNW LETTER OF CREDIT NUMBER $960555 D THI NEWAL NOTICE. N rHORIZED SIGNATURE 3 : LENNAR HOMES, 1NC- ' • 700 NW 107TH AV8NUX MIAMI, FL .33172 All comasWdence and communication should be directed to our agent SunTrual Inlemallonal Sarifts, Inc.. 3137 N.W. 671h Avenue, Miami, Florka 331Ig Swift: SNBOUS3M Telew 6734600 C /9 390d 8LT C &6 b96: XO:i SS083 21 iMld NtiFI MM: Q I 69:8T 66. 61/80 088' ON T I d , + h SuNTRusT IRREVOCABLE LETTER OF CREDIT NUMBER S960556 MAY 08, 1998 CITY OF TAMARAC 7525 N.-W. 88TH AVENUE TAMARAC, FL. 33321 RE: OUR IRREVOCABLE LETTER OF CREDIT S960556 ISSUED: DULY 17, 1996 CURRENT BALANCE: 9,151.00 U.S. DOLLARS ACCOUNT PARTY: LENNAR HOMES, INC. NEW EXPIRATION DATE: JULY 17, 1999 DEAR BENEFICIARY: THIS IS TO NOTIFY YOU THAT THE ABOVE REFERENCED LETTER OF CREDIT HAS BEEN RENEWED FOR AN ADDITIONAL PERIOD AS STATED IN THE TERMS AND CONDITIONS OF THE LETTER OF CREDIT. THIS IS A NOTIFICATION ONLY AND IS NOT AN AMENDMENT TO THE ORIGINAL LETTER OF CREDIT. IF YOU HAVE ANY QUESTIONS CONCERNING THIS LETTER OF CREDIT PLEASE CALL OUR LETTER OF CREDIT DEPARTMENT AT (305) 591- 6250, REFERRING TO OUR LETTER OF CREDIT NUMBER S960556 AND THIS RENEWAL NOTICE. SINCERELY, - / �-- � �-- ac�� UTHORIZED SIGNATURE 303 CC: LENNAR HOMES, INC. 700 NW 107TH AVENUE MIAMI, FL 33172 All correspondence and communication should be directed to our agent SunTrust International Services, Inc., 3737 N.W. 87th Avenue, Miami, Florida 33178 Swift: SNBOUS3M Telex: 6734609