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Home My WebLink AboutCity of Tamarac Resolution R-2000-059January 11, 2000 - Temp. Reso. # 8888 Page 1 of 3 1 CITY OF TAMARAC, FLORIDA �p RESOLUTION NO. R-2000- 5 1 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE PERFORMANCE BOND (LETTER OF CREDIT #513799) IN THE AMOUNT OF $42,954.00 POSTED FOR THE DRAINAGE ON THE SOUTHEAST CORNER OF NW 80TH STREET AND GRANVILLE DRIVE; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Lennar, Inc. with Manufacturers Bank as Surety, has filed with the City a performance bond; (Letter of Credit # 513799) in the amount of $42,954.00 to guarantee construction of a drainage located on the Southeast corner of NW 801h 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 performance bond has remained in place for the required one (1) year period in lieu of the warranty bond; and WHEREAS, it is the recommendation of the Public Works Director and the DRC Engineer that the performance 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 performance bond, Letter of Credit # 513799, in the amount of $42,954.000, posted forthe drainage located on the Southeast corner of NW 801h Street and Granville Drive. Wenginee ring\Resolutions\8888RES-Exeter Drainage Gulvert.doc January 11, 2000 - Temp. Reso. # 8888 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 performance bond (Letter of Credit # 513799) in the amount of $42,954.00 posted for the drainage located on the Southeast 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 Section 3: That all Resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. 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. CAWINDOWSUEMP\8888RES-Exeter Drainage Culvert.doc January 11, 2000 - Temp. Reso. # 8888 1 1 1 Page 3 of 3 PASSED, ADOPTED AND APPROVED this day of 12000. ATTEST- CAROL GOL , CMC/AAE CITY CLERK I HEREBY CERTIFY that I have appcQvedAhis RESOJ�UTIO WrCHELL 8--K CITY ATTORN C - JOE SCHREIBER MAYOR RECORD OF COMMISSION MAYOR_-- SCHREIBER DIST 1; COMM. PORTNER DIST 2: V/M MISHKIN DIST 3:. COMM. SULTANOF DIST 4:.... COMM. ROBERTS CAWIND0WS\TEMP\8888RES-Exeter Drainage Culvert.doc • C7 C7 TELEX: 3772134 MNB INTL DET 164366 MNB INTL DET SWIFT: MNBD US 33 FAX: (313)222-9115 AMENDMENT TO LETTER OF CREDIT MAY 26, 1995 BENEFICIARY: CITY OF TAMARAC 5811 N.W. 88TH AVENUE TAMARAC, FLORIDA 33321 GENTLEMEN: GMM Letter of Credit Division ONE DETROIT CENTER 500 WOODWARD AVENUE P.O. BOX 75000 DETROIT, MI 48275-3341 CREDIT NUMBER OF ISSUING BANK: 513799 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. IN ACCORDANCE WITH INSTRUCTIONS RECEIVED FROM OUR PRINCIPALS, THE ABOVE CAPTIONED CREDIT HAS BEEN AMENDED AS FOLLOWS: PLEASE NOTE THE FOLLOWING ADDITION: THE BENEFICIARY'S ADDRESS HAS BEEN CHANGED AS FOLLOWS: 7525 N.W. 88TH AVE. TAMARAC, FLORIDA 33321 ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED. VERY TRULY YOURS, COMERICA BANK AUTHORIZED SIGNATURE FOR APPROVAL ONLY -PERFORMANCE BOND R F-PLAWASN I" BDMD lem title: Kh`/ Doi T EYE TE /# oPF-WE s 7-b RFPL c E 4 PFRF0R1V 9A1,CLz-' B011P F Ail A1-r brA ri Ai 46REq5;v,-,r11l ANY 01;3q,_30D6L5Zz (x) City Attorney��~�`'" (X) City Manager Building Department ( j() City Clerk ( ) Community Development ( ) Finance ( ) Fire ( ) Personnel/Insurance ( ) Broward Sheriffs Office (�() Public Services / ( ) Purchasing Funding Source Initiating Department Head Signature Date R// Z- - - — 'his form is to be completed PRIOR to all backup being forwarded to the City Clerk for acceptance. 9/91 TeIP' 23-5796 MNB INTL A 23-5808 MNB INTL 6 Cable Address: MANUBANK *SWIFT MNBD US 33 is 0 IRREVOCABLE STANDBY LETTER OF BENEFICIARY: CITY OF TAMARAC 5811 N.W. 88TH AVE. TAMARAC, FLORIDA 33321 GENTLEMEN: MANUFACTURERS BANK, N.A. INTERNATIONAL BANKING DEPARTMENT MANUFACTURERS BANK TOWER RENAISSANCE CENTER P O. BOX 55012A DETROIT, MICHIGAN 48255 CREDIT DATE NO.: Letter of Credit Division FEBRUARY 10, 1992 513799 AMOUNT: $42,945.00 WE HEREBY OPEN OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. 513799 IN YOUR FAVOR, FOR ACCOUNT OF LENNAR HOMES, INC., 700 N.W. 107TH AVE., MIAMI, FLORIDA 33172 FOR A SUM NOT EXCEEDING FORTY-TWO THOUSAND NINE HUNDRED FORTY-FIVE AND 00/100 U.S. DOLLARS ($42,945.00) AVAILABLE BY YOUR DRAFT AT SIGHT ON MANUFACTURERS BANK, N.A. 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 COMPLETE THE DESIGN AND INSTALLATION OF AN ALTERNATIVE DRAINAGE IN ACCORDANCE WITH PLANS APPROVED BY THE CITY AND IN COMPLIANCE WITH ALL REQUIRED PERMITS FOR EXETER AT KINGS POINT TAMARAC." IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE DEEMED AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ONE YEAR PERIODS FROM THE EXPIRATION DATE HEREOF, OR ANY FUTURE EXPIRATION DATE, UNLESS AT LEAST THIRTY (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 FOLLOWS: "WE CERTIFY THAT WE HAVE; BEEN NOTIFIED INWRITING BY'M4NUFACTURERS BANK, N,A. OF THEIR ELECTION NOT TO RENEW THEIR LETTER OF CREDIT'NO. 513799 AND THAT LENNAR HOMES'' INC. HAS '`FAILED "TO"`COMPLETE THE DESIGN AND INSTALLATION OF AN ALTERNATIVE DRAINAGE IN ACCORDANCE WITH PLANS APPROVED BY THE CITY AND IN COMPLIANCE WITH ALL REQUIRED PERMITS FOR EXETER AT KINGS PONT TAMARAC." PARTIAL DRAWINGS ARE PERMITTED. ALL DRAFTS DRAWN UNDER THIS CREDIT MUST BE MARKED "DRAWN UNDER MANUFACTURERS BANK, N.A. LETTER OF CREDIT NO. 513799." THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (1983 REVISION), 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 THIS CREDIT WILL BE DULY HONORED ON DELIVERY OF THE DOCUMENTS AS SPECIFIED IF PRESENTED AT THIS OFFICE ON OR BEFORE FEBRUARY 9, 1993 OR ANY AUTOMATICALLY EXTENDED DATE. YOURS VERY TRULY, AUTHORIZED SIGNATURE February 6, 1990 Mr. Edward Shuty Engineering Supervisor City of Tamarac 7525 NW 88th Avenue Tamarac, Florida 33321 Dear Ed: e nnar homes,: since�1954, 1G TAMARAC K. J 8199U P. P. i L�N.:rrEF�;!rac� I Inrir��.AH. ! N.B. LIE� �•S RE: Letter of Credit on Exeter Alternative Drainage Agreement Enclosed is the original Letter of Credit No. NY-0489-30006152 for $42,945.00 made out in favor of the City of Tamarac. This Letter of Credit is referred to as Exhibit 8 in the above Agreement and is calculated based upon $35,000 Per acre on 1.227 acres that represents the City"s vacation of the two canals. I understand this Agreement is in the process of being set for approval by the City Council. Thank you for your continued cooperation. Sincerely yours, LENNAR HOMES, INC. a�t tYL s - Regional Administrato MLR:ldf CC: Alfie Cross, Carnahan Susan P. Motley, Esq, Carlos Diaz JAIA10- 1q0 ADULT COMMUNITY DMSION 7600 Nob Hill Rood Tamorac, Florida 33321 - (305) 722-0121 &award - (305) 949-0584 Dade Citibank, N.A. NORTH AMERICAN FINANCE GI".r7UP - TRADE FINANCIAL SERVICES III WALL. STREET NEW YORK, NY 100<1 P O RUA RY 01, 199() CITY OF TAMARAC 5811 N.W. 08T H AVENUE TAMARAC, FL. 33321 REF: IRREVOCABLE: LETTER OF CREDIT NO. NY-0409--300061 ? GENTLEMEN: BY ORDER OF OUR CLIENT, LENNAR HOMES, INC., 700 N.W. 107TH AVENUE, MIAM:I, FL. 33172 WE HEREBY OPEN OUR CLEAN IRREVOCABLE. LETTER OF CREDIT NO. NY--0489-30006152 IN YOUR FAVOR FOR AN AMOUNT NOT TO EXCEED IN THE AGGREGATE U.S.$42,945.00 (FORTY TWO THOUSAND MINI:. HUNDRED FORTY FIVE AND 00/100) , EFFECTIVE IMMEDIATELY AND EXPIRING AT OUR 111 WALL STREET OF'FICE. NEW YORK N.Y. 10043, WITH OUR CLOSE OF BUSINESS ON FEBRUARY 01, 1991. WE: ARE. ADVISED D THAT THIS IRREVOCABLE LETTER OF CREDIT IS TO ENSURE: DESIGN AND INSTALLATION OF AN ALTERNATIVE DRAI:NAOE. IN ACCORDANCE WITH PLANS APPROVED BY THE CITY AND IN COMPLIANCE WITH ALL RE:PUIRED PERMITS FOR EXETEAR AT KINGS POINT TAMARAC, THE CITY IS AUTHORIZED TO DRAW DRAFTS AT SIGHT ACCOMPANIED BY A SIGNED STATEMENT FROM T'HiE. CITY OF TAMARAC: OF ITS AUTHORIZED REPRESENTATIVE THAT: (A) THE DRAWING IS DUE TO LE:NNAR HOMES, INC.'INC.'S FAILURE TO CONSTRUCT THE PUBLIC IMPROVEMENTS. (B) THAT THE DEVELOPER'S OBLIGATIONS HAVE. NOT BEEN COMPLETED AND THE: CIT OF. TAMARAC HAS BEEN NOTIFIED D THAT THE BONO WILL NOT BE EXTENDED. THIS LETTER OF CREDIT SMALL 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. OF OUR INTENT NOT TO RENEW FOR AN ADDITIONAL. PERIOD, WHICH NOTICE E MUST BE PROVIDED AT LEAST THIRTY (:30) DAYS PRIOR TO THE EXPIRATION DATC OF THE ORIGINAL TERM HEREOF OR ANY Rt: NE.WED ONE. (1) YEAR TERM OR UNLESS THE CITY �OF TAMARAC: RETURNS THE: ORIGINAL LETTER OF CREDIT TOGETHER WITH NOTIFICATION THAT IT MAY l: 11 • T"RM HATED. WE ENGAGE WITH YOU THAT EACH DRAFT DRAWN UNDER AND IN COMPLIANCE WITH THE TL:RMA QFW .THIS CREDIT WI:L.L. BE: C)UL.Y HONORED ON DELIVERY OF THE DOC.:UMFNTS AS SPECIFIED IF PRESENTED TO US AT OUR Ill W11LL.. STREET OFFICE:, NEW YORK, NY • • 0 Citibank, N.A. PACT : 100.43, ATTN: NAFG LETTER OF C13I'pIT rlEP'r. UXCL---PT AS FAR AS OTHERWISE EXPRESSLY sTATEQ HEREIN, THIS LETTER OF CREDIT I:3 SUBJECT TO THIS TJT` 1FORM CUSTOMS AND PRACTICE F O( DOCUMENTARY CREDITS (J.983 REVISION) YNTERNATJ ONAL CHAMBER OF COMMERCE' PUBLICATION NO. 4()() CITIBANK N.A. m. MUNMILO, 0.0. G/rrade Flnancial Servicn AU'rHORIZ:ED S1:GNA•rl.IRl::, �.111W(212)all l57-73dlonell (212Ni57.7367 r uuUK.. i • SHEET I � m, I I I � It i Ln THIS Ix PLAT I Im �' 3 I I I I I I I I I ., OF SQU7HGATE BLVD SHEETS CITY PARK W 77fh S� N W 71st ?4 9 r" LOCATION MAP Pi. T. s. ,Aft N ?IDA ) SS 7NARD ) I BY THESE PRESENTS: that LENNAR HOMES, INC., a Florida is the owner of the lands to be subdivided and platted ion, said plat to be known as drainage and canal maintenance easements are hereby dedicated for proper purposes.There are reserved for public nests, appropriate portions of Parcel "A" 7rtion of said parcels that may be covered by appendages thereto. Said utility easements will be 0'rovements nstallation and maintenance of public utilities for the wi th in so id Flat. -�Er' iE0F, r e u n I o set our hands th is day of