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Home My WebLink AboutCity of Tamarac Resolution R-2000-280Temp. Reso.#9163 September 27, 2000 1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2000-280 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE A PUBLIC IMPROVEMENT WARRANTY BOND IN THE FORM OF AN IRREVOCABLE STANDBY LETTER OF CREDIT #S990365 FROM SUNTRUST BANK, IN THE AMOUNT OF $32,755.00 FOR THE WATER DISTRIBUTION AND SEWAGE COLLECTION SYSTEM IMPROVEMENTS INSTALLED BY LENNAR HOMES, INC., FOR THE EXETER WEST PROJECT LOCATED ON THE SOUTH SIDE OF NW 80" STREET BETWEEN NW 108" TERRACE AND NW 106" AVENUE; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Lennar Homes, Inc., has constructed the Exeter West Project and installed the Water Distribution and Sewage Collection System Improvements in accordance with the Site Plan approved by the City Commission on October 22, 1997; and WHEREAS, the Water and Sewer Developer's Agreement accepted and executed by the City of Tamarac on January 14, 1998, requires Lennar Homes, Inc., to provide a one-year Warranty Bond to the City of Tamarac for the Exeter West Project Water Distribution and Sewage Collection System Improvements located on the south side of NW 80t" Street between NW 108' Terrace and NW 106' Avenue (a copy of which is attached hereto in map form as "Exhibit 1 "); and 1 Temp. Reso.#9163 September 27, 2000 2 WHEREAS, Lennar Homes, Inc., has requested the release of a Public Improvement Warranty Bond in the form of an Irrevocable Standby Letter of Credit #S990365 from SunTrust Bank, in the amount of $32,755.00 (a copy of which is attached hereto as "Exhibit 2") for the Water Distribution and Sewage Collection System Improvements installed for the Exeter West Project; and WHEREAS, the Improvements were inspected, approved and are recommended for acceptance for City ownership by the Utilities Engineering Division; and WHEREAS, it is the recommendation of the Director of Utilities that the Public Improvement Warranty Bond be released for the Exeter West Project Water Distribution and Sewage Collection System Improvements; 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 Public Improvement Warranty Bond in the form of a Irrevocable Standby Letter of Credit #S990365 from SunTrust Bank, in the amount of $32,755.00 from Lennar Homes, Inc., for the Exeter West Project Water Distribution and Sewage Collection System Improvements. 1 1 Temp. Reso.#9163 September 27, 2000 3 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 one-year Public Improvement Warranty Bond for the Water Distribution and Sewage Collection System Improvements in the form of an Irrevocable Standby Letter of Credit in the amount of $32,755.00 for the Water Distribution and Sewage Collection System Improvements installed by Lennar Homes, Inc. for the Exeter West Project located on the south side of NW 80' Street between NW 1081h Terrace and NW 1061h Avenue in accordance with Section 10-156 of the City Code. SECTION 3: 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 C 1 Temp. Reso.#9163 September 27, 2000 4 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. �FC:TIC�N .ri passage and adoption. This Resolution shall become effective immediately upon its PASSED, ADOPTED AND APPROVED this 25th day of October, 2000. ATTEST: MARION S ENSON, CMC CITY CLERK I HEREBY CERTIFY that I ha aDDrcwed this RESOLUTIO as RG/krs/dml MITCHELL S!KRAF CITY ATTORNEY 4 �: t �-' 0 /- - JOE SCHREIBER MAYOR r . - • M - r.. - .1- MAYOR BCtI OUR O1@T 1: �. t"NO 0w*00MwLVJw ow * vim Room EXHIBIT 1 TEMP. RESO. # 9163 C14/CYPRESS CREEK CANAL SANIBEL SOUTHGATE83 spLVD. i ga n a 7 a 82 ST J O %0 Q Y O x u �a a r '" WE TW❑ D 6 81 ST 2 o 4- j rq z / N o 80 CT SE TION �- N TR6LAJ a •�LiS q M W a W 0 SITE zCACATION a c ONC TRENT u cu It a1i a //A A // T R 14 C �, `` ND OLL Wig%i�iiiii Gus i I W z Li m r //�// GRANVILLE o %!i TR15B G ,., . TR15A x a O > > 7 p A W A FAIRFAX 83 ST TR21 LOMBARDY PA TR3 ; KINGS PT. COMMER. PK. TR13 y LAND SEC. 6 T SEDGEFIELD fCCHW00D At/IT IN P L TR16 ov TR27 / EVANGELICAL COVENANT q CHURCH TR33 KINGS PT. PROF. PLAZA F-� EXETER.DWG EXETER WEST RELEASE OF WARRANTY BOND "Exhibit 2" SUNTRUST MIAMI, N.A. SUNTRUW CABLE STANDBY LETTER OF CREDIT NO. S990365 BENEFICIARY: CITY OF TAMARAC 7525 N.W. 88TH AVE. TAMARAC, FL. 33321 APPLICANT: LENNAR LAND PARTNERS 8190 STATE ROAD 84 DAVIE, FL. 33324 AMOUNT: USD 32,755.00 DATE OF EXPIRY JUNE 23, 2000 PLACE. OF EXPIRY: AT OUR COUNTERS BY ORDER OF OUR CLIENT, LENNAR LAND PARTNERS, 8190 STATE ROAD 84, DAVIE, FL 33324, WE HEREBY OPEN OUR IRREVOCABLE LETTER OF CREDIT NUMBER S990365 IN YOUR FAVOR FOR AN AMOUNT NOT TO EXCEED IN THE AGGREGATE U.S. DOLLARS USD 32,755.00 (THIRTY TWO THOUSAND SEVEN HUNDRED FIFTY FIVE AND 00/100 U.S. DOLLARS) EFFECTIVE IMMEDIATELY AND EXPIRING AS STATED HEREIN AT OUR SUNTRUST BANK,MIAMI N.A., 3737 NW 87TH AVENUE, MIAMI, FL. 33178 OFFICE. 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 ARE FOUND WITHIN (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 AND APPROVED BY THE UTILITY ENGINEER FOR WATER AND SEWER CONSTRUCTION FOR EXETER-WEST AND DEVELOPER'S OBLIGATION TO COMPLY WITH THE REQUIREMENT OF TAMARAC CITY CODE SECTION 10•-156. .. THE CITY IS AUTHORIZED TO DRAW DRAFTS AT SIGHT ACCOMPANIED BY A SIGNED STATEMENT FROM THE CITY OF TAMARAC OR ITS' AUTHORIZED REPRESENTATIVE THAT: "THE UNDERSIGNED, AN AUTHORIZED REPRESENTATIVE OF THE CITY OF TAMARAC, HEREBY CERTIFIES THAT: ';"•'6 (A) THE DRAWING IS DUE TO LENNAR LAND PARTNERS' FAILURE 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 PUBLIC IMPROVEMENTS BY THE CITY COMMISSION OF THE CITY OF TAMARAC, OR (B) THAT THE DEVELOPER'S OBLIGATIONS HAVE NOT BEEN COMPLETED; OR THE CITY OF TAMARAC HAS BEEN NOTIFIED THAT THE BOND WILL NOT BE EXTENDED, OR All correspondence and communication should be directed to our agent SunTrust International Services, Inc., 3737 NA 87th- Avenue, 1st Floor, Miami, Florida 33178 Swift: SNTRUS3M Telex: 542210 ti SuNTRuST IRREVOCALBLE LETTER OF CREDIT NO. S990365 (C) THAT THE CITY OF TAMARAC HAS BEEN NOTIFIED THAT THE BOND WILL NOT BE EXTENDED." THE ORIGINAL LETTER OF CREDIT MUST BE PRESENTED WITH ANY DRAWING HEREUNDER. 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 SPECIAL COURIER, THAT WE ELECT NOT TO RENEW THE CREDIT FOR AN ADDITIONAL PERIOD, WHICH NOTICE MUST BE PROVIDED AT LEAST SIXTY (60) DAYS PRIR 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 WRITTEN NOTIFICATION THAT IT MAY BE TERMINATED PRIOR TO THE THEN CURRENT EXPIRATION DATE. 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 IF PRESENTED AT THIS OFFICE ON OR BEFORE THE EXPIRATION DATE OF THIS LETTER OF CREDIT OR ANY EXTENDED DATE AS PROVIDED FOR HEREIN. ALL DRAFT(S) DRAWN UNDER THIS CREDIT MUST BE MARKED: "DRAWN UNDER SUNTRUST,MIAMI,N.A., LETTER OF CREDIT NUMBER S990365." UNLESS EXPRESSLY STATED OTHERWISE, THIS LETTER OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE (1993 REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NUMBER 500, OR ANY REVISION SUPERCEDING PUBLICATION NUMBER 500. SSE AUTHOR SUNTRUST BANK, MIAMI, N.A. 323 Ail correspondence and communication should be directed to our agent SunTrust International Services, Inc., 3737 N.W, 87th Avenue, 1st Floor, Miami, Florida 33178 Swift: SNTRUS3M Telex: 542210 City of Tamarac 7525 N.W. 88th Avenue, Tamarac, Florida 33321-2401 Telephone: (954) 724-1230 - Facsimile (954) 724-2454 Jeffrey L. Miller City Manager jeffm@tamarac.org C. Dean Amann, II Lennar Homes, Inc. 7600 Nob Hill Road Tamarac, FL 33321 October 31, 2000 RE: Exeter West Water Distribution and Sewage Collection System Warranty Bond Release. Dear Mr. Amann, I am pleased to advise you that at its meeting on October 25, 2000, the Tamarac City Commission approved a Resolution authorizing the appropriate City Officials to release a Public Improvement Warranty Bond in the form of an Irrevocable Standby Letter of Credit #S990365 from SunTrust Bank, in the amount of $32,755.00 for the Water Distribution and Sewage Collection System Improvements installed by Lennar Homes, Inc., for the Exeter West Project located on the south side of NW 80th Street between NW 1081h Terrace and NW 106th Avenue. Enclosed is a copy of the approved resolution for your records. Mr. Tony Rabbat, Utilities Engineer, will be your contact person with the City concerning this matter. Please feel free to contact him at (954) 724-1271. However, if there should be any problems of a serious consequence, I expect you to advise me directly and immediately. The City looks forward to working with you on future projects. Sincerely, 4/.�� Jeffrey L. Miller City Manager TR:dmli9163 cc: Ray Gagnon, Director of Utilities Marion Swenson, City Clerk Equal Opportunity Employer