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Home My WebLink AboutCity of Tamarac Resolution R-97-153Temp. Reso.#7863 April 23, 1997 1 CITY OF TAMARAC RESOLUTION NO. R-97- 53 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE A PUBLIC IMPROVEMENT PERFORMANCE BOND IN THE FORM OF AN IRREVOCABLE STANDBY LETTER OF CREDIT #M519131 FROM BARNETT BANK, N.A., IN THE AMOUNT OF $8,100.00, SUBJECT TO THE RECEIPT OF A WARRANTY BOND IN THE AMOUNT OF $2,025.00 FROM LENNAR HOMES, INC., FOR THE FIRE HYDRANT RELOCATIONS IN WELDON BUILDING I, J, & K PROJECT LOCATED ON THE NORTHEAST CORNER OF NW 77TH STREET AND NW 96TH AVENUE; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Lennar Homes, Inc., has constructed Weldon Buildings I, J, & K Project and has installed the Water Distribution and Sewage Collection System Improvements in accordance with the Site Plan approved by the City Commission on August 17, 1994; and WHEREAS, Lennar Homes determined the need to add a fire sprinkler system to each of the buildings causing a conflict with the fire hydrants and requested the relocation of these hydrants; and WHEREAS, the Water and Sewer Developer's Agreement accepted and executed by the City of Tamarac on June 14, 1995, requires Lennar Homes, Inc., to provide a Warranty Bond to the City of Tamarac for the Weldon Buildings I, J, & K Project Fire Hydrant Relocations located on the northeast corner of NW 77th Street and NW 96th Avenue (attached hereto in map form as "Exhibit 1"); and 1 L Temp. Reso.#7863 April 23, 1997 2 WHEREAS, Lennar Homes, Inc., has requested the release of a Public Improvements Performance Bond in the form of an Irrevocable Standby Letter of Credit #M519131 from Barnett Bank, N.A., in the amount of $8,100.00 (attached hereto as "Exhibit 2") subject to the receipt of a one-year Warranty Bond in the amount of $2,025.00 to the City of Tamarac for the fire hydrant relocations in the Weldon Buildings I, J, & K Project; and WHEREAS, the Improvements were inspected, approved and are recommended for acceptance for a one-year warranty period by the Utilities Engineering Division; and WHEREAS, it is the recommendation of the Interim Director of Utilities that the Public Improvement Performance Bond be released for the Weldon Building I, J, & K Project Fire Hydrant Relocations; 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 Performance Bond subject to the receipt of a one-year Warranty Bond from Lennar Homes, Inc., for the Weldon Buildings I, J, & K Project. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: 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. Temp. Reso.#7863 April 23, 1997 3 SECTION 2: That the appropriate City Officials are hereby authorized to accept the one year Warranty bond for the Water Distribution and Sewage Collection System Improvements in the amount of $2,025.00 for the Weldon Buildings I, J, & K Fire Hydrant Relocation Project located on the northeast corner of NW 77th Street and NW 96th Avenue in accordance with Section 10-156 of the City Code. SECTION 3: That the City Clerk is hereby authorized and directed to release to the Utilities Department for return to Lennar Homes, Inc., the Performance Bond upon acceptance of the one (1) year Warranty Bond for the Weldon Buildings I, J, & K Project. The bond is in the form of an Irrevocable Standby Letter of Credit #M519131 from Barnett Bank, N.A., the amount of $8,100.00 for the fire hydrant relocations. 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 portions or applications of this Resolution. Temp. Reso.#7863 April 23, 1997 4 SECTION 6: This Resolution shall become effective immediately upon its passage and adoption. PASSED, ADOPTED AND APPROVED this Z day of wv.,,.. 1997. ATTEST: CAROL A. EVANS, CMC CITY CLERK I HEREBY CERTIFY that I have approv Is RESOLUTION as to for . I/ TR/dav/aml 1 ITCHELL`S.-KF CITY ATTORN JOE SCHREIBER MAYOR L _i 1 .. i ��' • DIST 1: COMK MgKAYE DIST 2: V/M MISWIN LIST 3: COMM. SULTANOF 01412Y 4; --QgMM. RO ERT TEMP. RESO. # 7863 EXHIBIT I • KINGS PT. C❑MMER, PK. L LOCATION THIS SIT1 HUNTINGT❑N TR23 2 80 PL WESTW❑❑D 5A S0 C1 g� T 4 6 fib/ R❑CKFORD / TR28 �/ TR29 U C] CJ /! TR30 YORKSHIRE z z ® j/ rr > Q q N q GREENwp(70 %! w 3 TAMARAC rr SPORTS COMPLEX E N SEC. 5 m d TR27 --1 s 76 ¢ cr7 EVANGELICAL ST X COVENANT j a 76 ST CHURCH M / WEST LAKE VILLAS Cl TR33 ❑PLAZA Q PROF KINGS POINT j 75 CT �e WESTW❑❑D SALES CENTER /j Oq PINES & CLUB HOUSE // PRING LAKE Zj �4 75 p TR37 P -R, W �r r /rj 74 CT ASHM❑NT CIR $ELFpRT G1R NORTH ¢ WESTW❑ 31h � 95 W. g BELF ORT ASHM❑NT 73 CT 3 B�1 Fps CjR �pIJT 73 ST Sl� HIDDEN TR42 SECTI❑N 21 G� TR40 HOLLOW 4r 72 CT b NOD HILL/ 3 WESTW❑❑D PLAT TR41 Mp1 Q P❑INT PLAZA 72 ST WE TW❑❑D DR ST 71 ST Sr o era 71 SECTI❑N 21 j/ 70 PL SECTI❑N 22 BUILDINGS IJ&K WELD❑N-I.DWG WELDON BUILDINGS I J & K FIRE HYDRANT RELOCATION PERFORMANCE BOND RELEASE PAGE: 1 L/C NUMBER: EXHIBIT 2 Temp, Reso.#7,863 M519131 BARNETT BANK, N.A. P.O- BOX 019504 701 BRICKELL AVENUE,-- MIAMI, FL 33101--9504 8TH FLOOR IRREVOCABLE STANDBY LETTER OF CREDIT LETTER OF CREDIT NUMBER: M519131 APPLICANT: LENNAR HOMES, INC. 700 N.W. 107TH AVE. MIAMI , FL 33172 ISSUE DATE: JANUARY 30,'1997 BENEFICIARY:. CITY OF TAMARAC 7525 N.W. 88TH AVE. TAMARAC, FLORIDA 33321 AMOUNT: USD 8,100.00 EIGHT THOUSAND ONE HUNDRED AND 00/100'S USD DATE OF EXPIRY : JANUARY 30, 1998 PLACE OF EXPIRY: OUR COUNTERS BY ORDER OF OUR CLIENT, LENNAR HOMES INC., 700 N.W. 107TH AVENUE, MIAMI, FL. 33172, WE HEREBY OPEN OUR IRREVOCABLE LETTER OF CREDIT NUMBER M519131 IN YOUR FAVOR FOR AN AMOUNT.' NOT TO EXCEED IN THE AGGREGATE EIGHT THOUSAND ONE HUNDRED AND 00/1.00 DOI,L,ARS (USD8,100.00) EFFECTIVE IMMEDIATELY AND EXPIRING AS STATED r. HEREIN AT OUR BARNETT BANK N.A., 701 BRICKELL AVE., SUITE 801 MIAMI, FL. 33101. ` 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 DATE �lJ. JANUARY 1.3, 1997 AND APPROVED BY THE UTILITY ENGINEER FOR FIRE HYDRANT REVISIONS' INSTALLATION FOR WELDON BUILDINGS 1, J & K 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.4 FROM THE CITY OF TAMARAC OR ITS' AUTHORIZED REPRESENTATIVE THAT: "THE UNDERSIGNED, AN AUTHORIZED REPRESENTATIVE OF THE. CITY OF TAMARAC, HEREBY CERTIFIES THAT: (A) THE. DRAWING IS DUE TO LENNAR HOMES, INC. IS 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 (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. w6 THIS LETTER OF CREDIT SHALT. BE AUTOMATICALLY RENEWED, WITHOUT AMENDMENT, FOR SUCCESSIVE PERIODS OF ONE (1) YEAR EACH, UNLESS WE PROVIDE WRITTEN NOTICE TO THE, CITY CLERK VIA REGISTERE i MAIL, OR SPECIAL COURIER, THAT WE ELECT NOT TO RENEW '�,, THE CREOTT FOR AN ADDITIONAL PERIOD, WHICH NOTICE MUST BE PROVIDED AT LEAST pq SIXTY (60) DAYS PRIOR 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. I 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. ORIGINAL t. 152404 0393 E TEMP. RESO. 7863 F j. r PACE: 2 L/C NUMBER: M519131 r� ALL DRAFT(S) DRAWN UNDER THIS CREDIT MUST BE MARKED: "DRAWN UNDER BARNETT BANK N.A. OF CREDIT NUMBER M51913111. W UNLESS EXPRESSLY STATED OTHERWISE, THIS LETTER OF CREDIT IS SUBJECT TO THE P UNIFORM CUSTOMS AND PRACTICE (1993 REVISION) INTERNATIONAL. CHAMBER OF COMMERCE :,', PUBLICATION NUMBER 500, OR ANY REVISION SUPERCEDING PUBL3'CATION NUMBER 500. C-6 r. A iORIZED SIGNATUER; i ORIGINAL