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1990-0216_SEASIDE RANCHOS_Surety Agreement0 9 a 0 f THIS AGREEMENT is made by and between the CITY OF SAN JUAN CAPISTRANO, a municipal corporation, hereinafter referred to as the "City" and Seaside Ranchos, a California Corporation referred to as "Developer". WITNESSETH WHEREAS, City will issue Grading Permit No. 10255-B to Developer to construct certain designated improvements, more particularly described in Exhibit "A" attached and incorporated herein by reference, which said improvements constitute a portion of that real property at the location ofthe SW corner of Camino Capistrano and Del Obispo, commonly referred to as Seaside Ranchos. WHEREAS, San Juan Capistrano Municipal Code 8-3.05 requires the posting of financial security to secure the faithful performance and labor and materials for the grading and installation of improvements connected with issuance of grading permits. WHEREAS, San Juan Capistrano Municipal Code 8-3.06 authorizes the Building Official to require additional bonding as security to ensure against adverse aesthetic impacts arising from incomplete grading and/or improvements from development projects which have not been completed. WHEREAS, the Building Official finds that the proposed project site is highly prominent and visible to the community, has unique topographic features or involves substantial grading of slope areas. NOW, THEREFORE, in consideration of the premises and promises hereinafter contained, City and Developer agree as follows: 1. Developer's Improvements Obligations. Developer shall, at its sole cost and expense, provide and furnish all labor, materials and equipment for the installation of improvements set forth in Exhibit "A". The grading permit and plans, which further defines the improvements in Exhibit "A", are on file in the office of the City's Building Official, and all documents referenced in Exhibit "A" are incorporated herein by reference. 2. Developer's Security. Developer shall provide a letter of credit, subject to the approval of the City's City Attorney, to secure Developer's improvement obligations required under this agreement. The amount of the bond shall be $399,664 for that work described in Exhibit "A". This security of $399,664 shall also serve as security for restoration of the site. A copy of the surety instrument, as approved by the City Attorney, is attached as Exhibit nDu 3. Completion of Improvements. To ensure the protection of the public safety, health and welfare, Developer shall construct the improvements described in Exhibit "A" in accordance with the schedule as set forth in Exhibit "B", and the conditions as set forth in Exhibit "C". 4. Developer Default. In the event Developer does not complete the required improvements, including erosion -control measures within the time required, or abandons the project site, or suspends work for more than twenty working days other than previously prescribed, City shall have the right to immediately declare a default and to make demand on the surety for performance. 5. Restoration of Site. San Juan Capistrano Municipal Code Section 8-3.06 allows the City to require bonding a security to ensure against adverse aesthetic impacts arising from incompleted grading and/or improvements. The purpose of this bonding shall be to restore the property to its original condition if the Developer defaults. This restoration shall include: 1. Dismantle and/or demolish improvements; 2. Grade property to its original contours as shown on the grading plan referred to in Exhibit "A'; 3. Remove all debris and construction materials from the site; and 4. Install erosion control, including hydroseeding, to the satisfaction of the Building Official. 6. Attorney's Fees. Developer agrees to pay City such sum as the court may adjudge as reasonable for the legal services of an attorney representing City in an action brought to enforce or interpret the obligations of this agreement, and such sum shall be made a part of any judgment in such action against Developer if such action is determined in favor of said City. 7. Developer's Work in Safe Condition. Developer shall perform all work in a safe workmanlike manner and shall take such precautions as may be necessary to warn and protect the public from any dangerous condition caused by the construction of said improvements. 8. Liability. Developer shall hold City, its officers and employees harmless from any and all claims, demands, causes of action, liability or loss of any sort because of, or arising out of, the acts or omissions of Developer, his contractor, subcontractors, agents or employees in the performance of this agreement. In Witness Whereof, the parties have executed this agreement as of at San Juan Capistrano, California. Date Seasid anchos City of San Juan Capistrano By. C 1 By. a'i � o e Dolley Elaine Martinez - Title )UXX-DkUXN&XPresident Building Official App I o d s to F m: John Shaw City Attorney r • 0 • EXHIBIT "A" DOLLEY/SEASIDE RANCHOS ITEM 1: Construction of all on-site grading (cut, fill and slope stabilization) operations in accordance with Grading Permit 10255-B and the Developer's plans and supporting documents as listed below: (A) Grading Plan for Dolley/Seaside Ranchos prepared by Dent uek/Switzer, Engineer, #C25089, dated: July 25, 1989 (B) Geotechnical Report dated August 3, 1988, prepared by Geo-Etka, Inc., #FR -3881-88 dated August 1988; ENER-3881-33-90 dated February 1980. ITEM 2: Construction of all on-site improvements in accordance with Grading Permit No. 10255-B and Developer's grading plans referenced in Item 1 above, including, but not limited to: driveways, parking areas, retaining walls terrace drains, down drains, subdrains, area drainage systems, and private storm drain systems not a part of Developer's Improvement Plans filed with City Engineer. ITEM 3: Construction of foundations and buildings in accordance with building plans for Dolley/Seaside Ranchos for applicant by Musil Perkowitz Roth, Inc., architect. ITEM 4: Construction and placement of landscaping and irrigation in accordance with approved plans for Dolley/Seaside Ranchos as included in the above plans. ITEM 5: Restoration Plan for Dolley/Seaside Ranchos consisting of one (1) sheet, prepared by Denluek/Switzer, dated August 3, 1988. EXHIBIT "B" SCHEDULE FOR COMPLETION OF IMPROVEMENTS Based on Early February Start Completion Date Task 3/1/90 Rough Grade Certification 4/1/90 Foundation 5/15/90 Rough Plumbing 5/15/90 Rough Electric 6/30/90 Structural Framing 6/30/90 Structural Final 8/1/90 Mechanical Final 8/1/90 Plumbing Final 8/1/90 Electrical Final 8/31/90 Landscape Irrigation 9/3/90 Landscape Planting 0 0 0 0 EXHIBIT "C" CONDITIONS FOR COMPLETION OF IMPROVEMENTS A. The grading for this project shall be in strict conformance with the grading plans and related documents as described in Exhibit "A" and Grading Permit No. 10255-8. B. Grading operations shall commence within ten (10) calendar days after issuance of Grading Permit No. 10255-B and no later than thirty (30) days, whichever comes first. Winter grading will be conducted in strict accordance with the dynamic erosion - control plan submitted by the developer, and approved by the City. This erosion - control plan reflects erosion mitigation measures for expected grading conditions as the work progresses through the winter season and shall not be amended except with the permission of the City. In the event Developer does not wish to implement winter grading, or permission for winter grading is rescinded, static erosion -control plans reflecting current conditions of grading shall be submitted within ten (10) days of cessation of work. These plans shall include erosion -control planting as required by the City. C. A sequence plan of grading operations shall be approved by the City prior to the issuance of any grading permit for this project. Any variation or deviation in the sequence of operations must be recommended, in writing, by the supervising civil and soils engineers and approved by the Building Official prior to performing any work related to the variation or deviation. D. Except as specified in (h) below, suspension in excess of twenty (20) working days of work authorized by Grading Permit No. 10255-8, including erosion -control measures and landscaping and irrigation, shall constitute default of this agreement. E. The supervising civil engineer and soils engineer shall file biweekly progress reports of all grading operations with the Building Official. An interim compaction report, for that work completed at the time work is suspended for the rainy season (see F below), shall be filed with the Building Official. This interim report shall conform to the grading code requirements for Final Compaction Reports. F. Contractor shall control dust to satisfaction of Building Official or his deputy. During grading, Contractor shall keep water truck on site and dampen work area, grounds, and loaded trucks. G. Grading operations suspended during the rainy season shall be resumed no later than ten (10) days. H. Developer shall provide approved on-site archaeological monitor during all phases of grading and foundation excavation. Developer shall provide approved Native American monitor during all phases of grading and foundation excavation. • 0 • • 7. Developer shall provide approved Paleontologist to monitor all phases of grading and foundation excavation. K. The grading for this project shall be in substantial conformance to the grading concepts of Planning Commission Resolution Nos. PC89-1-10-2 and PC 89-1-10-3, and in strict conformance with the grading plans and related documents as described in Exhibit "A" and Grading Permit No.10255-B. L. Contractor shall adhere to conditions of haul route permit and encroachment permit issued by the City Engineer. M. No construction trucks are to stop or stand within public right-of-way. N. Parking for construction crew is to be on site. O. All in -bound construction and grading equipment traffic shall take access from Camino Capistrano/Miguelito Road. Out -bound heavy equipment traffic will be permitted on Ortega Highway to 1-5, but no further. Developer shall provide all traffic control measures as required for safe vehicular movement and shall secure an encroachment (haul -route) permit from Public Works prior to issuance of the grading permit. ah) a�s,�o�.o • c 0 a tSECURITY PACIFIC NATIONAL BANK INTERNATIONAL BANKING GROUP DOST OFFICE BnX 92890 LOS ANGELES, CALIFORNIA 903C9 TELEX: 67-4343 CASLE: SEP4CBANK, LOS ANGELES SWIFT: SPNBUS66 PLACE AND DATE OF ISSUE LOS ANGELES, CA, FE4 8, 1990 wRIL CODE: W20-20 ADVISING SANK: PENEFICIARY: CITY OF SAN JUAN CAPISTRANO 32400 PASEO ADELANTO SAN JUAN CAPISTRANO, CA 92675 ATTN: STEPHEN B. JULIAN, CITY MANAGER RELEASED SATE V;t 9 A3 INITIALS ; W,W LETTER OF CREDIT NO. I-97 IRREVOCABLE STAND3Y CREDIT RECE VEQ FEB 13 1990 - CITY OF SAN JUAN t '•, r CAPISTRANO DATE AND PLACE OF EXPIRY FEB 1, 1991 AT/IN LOS ANGELES, CA APPLICANT: SEASIDE RANCHOS, A CALIFORNIA CORPORATION, 1442 IRVINE BLVD., SUITE 205 TUSTIN, CALIFORNIA 92680 AMOUNT: US$399,664.00 THREE HUNDRED NINETY NINE THOUSAND SIX HUNDRED SIXTY FOUR AND 00/100 UNITED STATES DOLLARS CREDIT AVAILABLE EY: PAYMENT, AGAINST PRESENTATION OF THE DOCUMENTS DETAILED HEREIN AND OF YOUR DRAFT(S) AT SIGHT DRAWN ON \ SECURITY PACIFIC NATIONAL BANK LOS ANGELES, CALIFORNIA THIS LETTER OF CREDIT IS ISSUED TO FULFILL THE REQUIREMENTS OF THAT CERTAIN AGREEMENT ENTERED INTO BETWEEN THE CITY OF SAN JUAN CAPISTRANO, A POLITICAL SUBDIVISION OF THE STATE OF CALIFORNIA, HEREINAFTER REFERRED TO AS "CITY", AND SEASIDE RANCHOS, A CALIFORNIA CORPORATION , HEREINAFTER REFERRED TO AS " PRINCIPAL" COVERING CERTAIN IMPROVEIMENTS TO BE INSTALLED IN THAT CERTAIN SUBDIVISION KNOWN AND DESIGNATED AS DOLLEY SEASIDE Don lore-- 5m SECURITY PACIFIC NATIONAL BANK INTERNATIONAL BANKING GROUP POST OFFICE e)X 9289n LOS ANGELES, CALIFORNIA °1)009 TELEX: 67-4343 CABLE: SEPACBANK, LOS ANGELES SWIFT: SF,V3USA6 CREDIT. L TTER CF CREDIT NO. I-97868 IRREVOC43LE STANDBY CREDIT PAGE 2 THIS LETTER OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (1983 REVISION) INTERNATIONAL CHAMBER OF COMMERCE, PU9LICATION NO. 400 ("UCPA"), AND TO THE UNIFORM. COMAERCIAL CODE OF TH= STATE OF CALIFORNIA ("UCC"). LN THE EVENT OF ANY CONFLICT 3ETWEEN T4E UCPA AND THE UCC, THE UCC SHALL PREVAIL AND CONTROL. . AUTNOR.IZED SIGNATURE rJESSE LEE Assistant Vice Pres:L'aR{ WERAI, tGNATURE RESOLD'CIO * RECEIVED RESOLVED THAT, Instruments, documents or agreements relating to or affecting thekBoo au{ifies #990 and affairs of this Bank, or of this Bank when acting in any representative or fiduciary capa E d v in its name, with or without its corporate seal, by the persons hereinafter designated. For t resolution, the term ISTRA 0"Senior Officer" shall mean: the Chairman of the Board, President, Vice Chairman of i 5 of the Executive Committee, any Vice Chairman, any Managing Director, any Vice President (inclu tng any Executive Vice President, any Senior Vice President or any First Vice President), Principal, Personnel Director, General Counsel, Assistant General Counsel, Associate General Counsel or any individual designated as a "Senior Officer" by any member of the Office of the Bank or by any Executive Vice President and the term "Signing Officer" shall mean: any Senior Officer, the Secretary, the Cashier, Counsel, Division Chairman of the Board, Division President, Division Vice Chairman, Division Executive Vice President, Division Senior Vice President, Division Vice President, any Assistant Vice President, Assistant Secretary, Assistant Cashier, Associate Counsel, Attorney, Senior Trust Officer, Trust Officer, Senior Investment Officer, Investment Officer, Senior Trust Advisor, Trust Advisor, District Trust Office Manager, Operations Officer, Senior Real Estate Officer, Real Estate Officer, Senior Tax Officer, Tax Officer, Trust Counsel, Associate Trust Counsel, Controller, Division Controller, Assistant Controller, Accounting Officer, Account Officer, Credit Officer, Consumer Credit Officer, Manager, Assistant Manager, Branch Manager, Assistant Branch Manager. International Officer, International Operations Officer, Senior Flight Officer, Flight Officer, Financial Analysis Officer, Financial Counselor or Associate. 1. Any two Senior Officers or any Senior Officer and any other Signing Officer, acting together, may execute: (a) Deeds, leases, assignments and conveyances of any real or personal property or any interest therein. (b) Bonds of indemnity or other undertakings, repurchase agreements or guaranties. (c) Cashiers checks having a face amount of $100,000 or more. (d) Any other instruments, documents or agreements which may be found necessary, proper or expedient to be executed in conducting the business of the Bank. 2. Any Senior Officer, acting alone, may execute: (a) Deeds to real property described in any deed of trust which names this Bank as trustee, after a trustee's sale thereunder in the manner provided by law. (b) Reconveyances of any property held under any deed of trust which names this Bank as trustee. (c) Loan agreements, commitments to lend, participation agreements and certificates of participation. (d) Underwriting agreements, purchase agreements, placement agent agreements and remarketing agent agreements relating to securities for which the Bank serves as underwriter, placement agent or remarketing agent and any instruments incidental thereto. 3. Any Signing Officer, acting alone, may execute: (a) Security agreements, building loan agreements and assignments of accounts, financing statements, termination statements, continuation statements and statements of assignment with respect to which this Bank is a secured party; releases of security interests in and liens upon personal property; reassignments of stocks, bonds, notes, leases and other property held by this Bank as security; and requests for reconveyances of property held for this Bank as security under deeds of trust. (b) Receipts for any money or property paid or delivered to this Bank. 0 0 (c) Extensions of the time for payment of any note or other obligation held by this Bank. (d) Notices of default and of election to sell or cause to be sold the property described in any deed of trust held by this Bank, notices to the trustee named in any such deed of trust, and do any other act or sign any other document provided for by law, or which may be necessary, expedient or proper in order to protect or enforce the rights of this Bank under any such deed of trust. (e) Checks, drafts, cashiers checks having a face amount of less than $100,000, money orders, certificates of deposit, savings certificates, acceptances, letters of credit, other similar obligations of this Bank, and underwriting agreements and similar agreements relating to the marketing of certificates of deposit or other obligations of this Bank. (I) Certifications of checks of customers. (g) Guaranties of the signatures of customers, or other signatures, when appearing as endorsements of bonds or of certificates of stock, or of other securities. (h) Claims of this Bank as a creditor of any decedent, or of a person who is a party to any form of proceeding in bankruptcy, insolvency or similar proceeding, or any other claim of this Bank in any other type of action or proceeding. (i) Proxies to vote stock held by this Bank (j) Pleadings and documents to be filed in any court or other proceeding involving this Bank, including verifications of any such pleadings or documents. (k) The "Oath of Officer of Incorporated Company" required by 46 U.S.C.A. § 838 or any similar statute, and other documents in favor of or affecting this Bank in connection with the recording of preferred mortgages. (1) Declarations of trust and trust and agency agreements, acceptances thereof and consents thereto, and any similar documents however denominated, and including any documents or agreements referenced within the declaration of trust or agency agreement or similar document and required or permitted to effect the fiduciary purpose; petitions for the appointment of this Bank in any representative or fiduciary capacity; certificates of ownership in and to any trust held by this Bank; certificates of authentication with respect to bonds, notes, debentures and other obligations issued under corporate mortgages, trust agreements and other indentures; certificates of securities deposited, interim certificates and other certificates for and on behalf of this Bank as depositary or agent; countersignatures of bonds, notes, certificates of stock, voting trust certificates, parti- cipation certificates or pass-through certificates on behalf of this Bank as transfer agent or registrar, certificates of cancellation and of cremation of stocks, bonds or other securities; and resignations of this Bank in any representative or fiduciary capacity. (m) Instruments required to transfer securities into the name of any nominee of the Bank. (n) Any tax return or other document to be filed with the Internal Revenue Service, the California Franchise Tax Board or any other taxing authority. (o) Merchant bankeard participation agreements and amendments thereof. 4. Any person who from time to time has the title of Auditor, or any other title which includes the word "Auditor" and any Audit Officer or any Reconcilement Officer, sl«tll be authorized to sign receipts for statements of accounts, verification of accounts, correspondence, and advices incident thereto. S. Those persons who from time to time shall be authorized by the Executive Vice President of the Management Services Group or, in his absence, the Human Resources Director or the Manager of the Compensation Division of the Human Resources Department to sign in the name and on behalf of this Bank as "For Manager" or "For Cashier" or "Authorized Signature" shall be and they hereby are authorized to sign checks, drafts, cashiers checks having a face amount of less than $100,000, money orders, certificates ofdeposit, savings certificates, acceptances, letters ofcredit and other similar obligations of this Bank, to certify checks and to execute receipts for any money or property paid or delivered to this Bank. Cashiers checks having a face amount of $100,000 or more require the signatures of two persons who have been authorized to sign in the name and on the behalf of this Bank. 6. The officers in charge of the departments under Article VII of the Bank's By -Laws may, any one acting alone, designate those persons who are authorized to execute certificates of authentication for bonds, notes, debentures, and other obligations issued under corporate mortgages, trust agreements and other indentures, to execute participation certificates and pass-through certificates on behalf of this Bank as transfer agent or registrar, and to countersign bonds, notes, debentures, certificates of stock or voting trust certificates on behalf of this Bank as transfer agent or registrar. 7. Any member of the Management Committee of this Bank is hereby authorized to designate persons who may use facsimile signatures in exercising their authority under this resolution, but the signatures of all other persons exercising authority hereunder shall be manual. FURTHER RESOLVED, that all signing resolutions authorizing Officers or others to sign any documents for or on behalf of this Bank, heretofore adopted by the Board of Directors, which are inconsistent or in conflict with the foregoing resolutions, be and they hereby are rescinded. The undersigned, Kim Abangan Assistant Secretary of Security Pacific National Bank, Los Angeles, California, hereby certifies that the foregoing is a full, true and correct -copy of a resolution duly adopted by the Board of Directors of said Bank on February 12, 1974, with all amendments to the date hereof, which resolution as amended is in full force and effect. The undersigned further certifies that Jesse F. Lee is a Assistant Vice President mxk1f a2 X.9M of said Bank, and that any topics of the signatures of said Officer or Officers affixed or attached hereto, and initialed by the undersigned (including any facsimile signatures so affixed or attached and so initialed), are genuine. February 7, 90 19_ °tun, Q�, Assistant Secretary SECURITY PACIFIC I IONAL BANK (SEAL) Assistant Vice President JESSE F. LEE, April gg SECURITY PACIFIC NATIONAL BANK iIL000ce' MAY 61992 XDXDX-C;� MEMORANDUM TO: Daniel McFarland, Manager Building & Safety �� Division U FROM: Dawn M. Schanderl, Deputy City Clerk /Yn.'�O' DATE: May 5, 1992 SUBJECT: Reduction of Seaside Ranch Letter of Credit I97868 (Surety Agreemer* Re Grading/Landscape/On-Site Improvements/Property Restoration) Just a reminder that I still need a copy of the letter reducing the above -referenced Letter of Credit from $399,664 to $15,000. Is the bank going to provide an updated Letter of Credit in the revised amount? cc: Cheryl Johnson, City Clerk William Huber, Director c SECURITY PACIFIC NATIONAL BANK INTERNATIONAL BANKING GROUP 333 South Beaudry Avenue Date of this Amendment: P.O. Box 92890 Mail Code WLO-20 02/21/92 Los Angeles, California 90017 Telex: 67-4343 S.W.I.F.T.: SPNBUS66 Amendment Number 1. to Letter of Credit No. 900910IS455LA—RE Cross'Ref N I97866 Beneficiary: CITY OF SAN JUAN CAPISTRANO 32400 PASEO ADELANTO SAN JUAN CAPISTRANO, CA 92675 AT'iN:SIEPHEN B. JULIAN,C11Y MANAGER At_the_,re_QvesA_of. SEASIDE RANCHOS, A CALIFORNIA CORP. P.O. BOX 444 TUSTIN, CALIFORNIA 92650 AITN: ROBERT C. DOLLEY For the account of: SEASIDE RANCHOS, A CALFFORNIA V. CORPORATION, 1442 IRVINE BLVD., SUITE.- 205 TU TIN, CALIFORNIA 92GEU We hereby amend ou, Irrevocable, Standby Letter of 1vAahif, 900910IS4S5L.A dated 02/08/H0 opened in your Credit amount decreased by USD384,664.00.='... ... + P{esse'si n the attached ce -- 9 PY' of t,t�_[."s' R�ot`rl�+hunt indicating your approval -and return same to us as`,6`o`6n` tis-f'poess i b I e. Please not if y us immediate) ti `wv accept this amendment. c #� � thb_yaee.nt that yov re{u>c to < 0 Al I other term,. remain unchanged. w_. This amendme dgomas an integral part of the original ietier of Credito be attached thereto. Aut+ho r5 iature 1 AMENDMENT ACCEPTED BY: PLEASE SIGN, DATE AND RETURN 90 THE CITY CLERK'S OFFICE. THANK YOU. February 1, 1993 Mr. Robert Dolley Seaside Ranchos 1442 Irvine Blvd., Suite 205 Tustin, California 92680 Re: Release of Letter of Credit - Dear Mr. Dolley: MEMBERS OF THE CITY COUNCIL COLLENE CAMPBELL GARY L. HAUSOORFER GILJONES CAROLYN NASH JEFF VASQUEZ CITY MANAGER GEORGESCARBOROUGH Attached is your Letter of Credit No. 1-97868, issued by Security Pacific National Bank, in the amount of $399,664.00 and on February 21, 1992 reduced to $15,000.00. Said Letter of Credit was given to the City as security for improvements on the SW corner of Camino Capistrano and Del Obispo. Work has been completed to the satisfaction of the City of San Juan Capistrano and the Letter of Credit is hereby released. If you have any questions, please do not hesitate to call. Very trulyours, . Dawn M. Schanderl Deputy City Clerk Attachment cc: Daniel W. McFarland, Building & Safety Manager Security Pacific National Bank This is to acknowledge that I have received the Letter of Credit No. 1-97868 issued by Security Pacific National Bank in the amount of $399,664.00 and on February 21, 1992, reduced to $15,000.00. ^` Mr. haFd Dolley, Se 1de Ranchos aberT L', Dated this¢day of February, 1993. 32400 PASEO ADELANTO, SAN JUAN CAPISTRANO, CALIFORNIA 92675 0 (714) 493-1171 r� 1 0 MEMORANDUM January 29, 1993 TO: Dawn Schanderl, Deputy City Clerk FROM: Daniel W. McFarland, Building & Safety Manager Department of Engineering and Building SUBJECT: Bond Release for Robert C. Dolley/Seaside Ranchos This memo serves as authorization to release the referenced bond No.I97868 in the amount of $15,000.00 for the driveway/entrance to Kentucky Fried Chicken at the SW corner of Camino Capistrano and Del Obispo. All work covered by this bond has been completed to the satisfaction of the Building Division. DM/st cc: Building File CITY CLERK'S DEPARTMENT - ACTION REMINDER TO: Dan McFarland, Building & Safety Manager FROM: Records Coordinator DATE: January 2, 1991 SITUATION: On February 16, 1990, the City of San Juan Capistrano entered into a surety agreement for grading, landscaping, and on-site improvements and property restoration with Seaside Ranchos (Dolley). Letter of Credit No. 1-97868 in the amount of $399,664.00 was provided as surety. ACTION REQUESTED: Letter of Credit I-97868 is due to expire on February 1, 1991. If this needs to be renewed please contract Robert C. Dolly and have renewed letter of credit sent to our department. ACTION TO BE TAKEN: 7 DATE WHEN NEXT ACTION (S) SHOULD BE TAKEN: SIGNATURE OF OFFICIAL TAKING ACTION: DATE SIGNED: ***FOR CITY CLERK'S DEPARTMENT USE ONLY*** Tickler Date: 1/2/91 Deadline Date: 2/1/91 cc: City Attorney 1'31gI J_t- Assistant City Manager (600.30/seaside) exPi r� CI: Y CLERK'S DEPARTMENT -ACTION REMINDER TO: Dan McFarland, Building & Safety Manager FROM: Dawn Schanderl, Records Coordinator DATE: December 31, 1991 SITUATION: On February 16, 1990, the City of San Juan Capistrano entered into a surety agreement for grading, landscaping, and on-site improvements and property restoration with Seaside Ranchos (Dolley). Letter of Credit No. 1-97868 in the amount of $399,664.00 was provided as surety. ACTION REQUESTED: Letter of Credit 1-97868 was due to expire on February 1, 1991 and automatically extended without amendment for an additional year, February 1, 1992. If this needs to be renewed please contract Robert C. Dolly and have renewed letter of credit sent to our department. If not, please notify this office so agreement file may be closed. ACTION TO BE TAKEN: DATE WHEN NEXT ACTION (S) SHOULD BE TAKEN: SIGNATURE OF OFFICIAL TAKING ACTION: DATE SIGNED: Tickler Date: Deadline Date: ***FOR CITY CLERK'S DEPARTMENT USE ONLY*** 12/31/91 02/01/92 cc: City Attorney ss:stant City Mana r Ajr10C1 LC7 Y A_- D' (600.30/seaside) / A=V= y7=FAq+ a-6- !F4? 464w� 9 MEMORANDUM LI February 16, 1990 TO: Mary Ann Hanover, City Clerk FROM: Elaine Martinez, Building & Safety Manager Community Planning & Development SUBJECT: Letter of Credit - No. I-97868 Security Pacific National Bank Attached, please find a Surety Agreement Bond for: Owner: Robert C. Do11ey/Seaside Ranchos Address of Project Site: SW Corner of Camino Capistrano and Del Obispo Amount of Bond $399,664.00 Certificate of Deposit Acct.No. Letter of Credit No. I-97868 This memorandum will serve as a receipt for said bond. Building and Safety Division will notify your Department to release bond when the grading permit is finaled. ce in this matter. Building Offici 1 I EM/st Attachment cc: John Shaw Stephen Chamberlain Larry Freeman AE& a 0 Seaside Ranchos February 12, 1990 Mr. Steve Chamberlain City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, Ca. 92675 Dear Steve: ft 0 Herewith Letter of Credit No. I-97868 in the amount of $399,664.00 issued by Security Pacific National Bank as required by the City for grading, landscaping and other on-site improve- ments. Sincerely, SEASIDE RANCHOS by: _ � 2�. I — Robert C. Do ey RCD:llw P O BOX 444 1442 IRVINE BOULEVARD SUITE 205 TUSTIN, CALIFORNIA 92681 714-838-8010 REAL ESTATE INVESTMENT/DEVELOPMENT 0 • BOND NUMBER: 159 21 21 PROM: 851.00 THE AMERICAN INSTITUTE OF ARCHITECTS -1 ,3zc•1„h- AIA Document A312 Performance Bond Any singular reference to Contractor, Surety, Owner or other party shall be considered plural where applicable. CONTRACTOR (Name and Address): MERCER CONSTRUCTION CO. 18265 GALE AVENUE CITY OF INDUSTRY, CALIFORNIA 91745 OWNER (Name and Address): SURETY (Name and Principal Place of Business): THE CONTINENTAL INSURANCE COMPANY P. 0. BOX 2263 BREA, CALIFORNIA 92622-2263 SEASIDE RANCHOS, A CALIFORNIA CORPORATION 1442 IRVINE BLVD., SUITE 205 TUSTIN, CALIFORNIA 92680 CONSTRUCTION CONTRACT Date: Amount: THREE MILLION THREE HUNDRED FORTY SIX THOUSAND SEVEN HUNDRED SEVENTY NINE & Description (Name and Location): PAYLESS DRUG STORE Il4141, SHOPS A, C & D AND SITEWORK SEC DEL OBISPO AND CAMINO CAPISTRANO BOND Date (Not earlier than Construction Contract Date): DECEMBER 5, 1989 Amount: THREE MILLION THREE HUNDRED FORTY SIX THOUSAND SEVEN HUNDRED SEVENTY NINE & Modifications to this Bond: X None ❑ See Page 3 CONTRACTOR AS PRINCIPAL Company: (Corporate Seal) MERCER CON TION CO. Signature: 6 Name a Title: (Any additional signatures appear on page 3) SURETY Company: (Corporate Seal) THE CONTINENTA N URANCE COMPANY Signature: _— -- Name and Title:C. NGER, AT RNEY-IN-FAC (FOR INFORMATION ONLY—Name, Address and Telephone) AGENT or BROKER: OWNER'S REPRESENTATIVE (Architect, Engineer or GRANGER -HANNA INSURANCE ASSOCIATES other party): MUSIL PERKOWITZ RUTH, INC. 2401 EAST KATELLA AVENUE, SUITE 500 911 STUDEBAKER ROAD ANAHEIM, CALIFORNIA 92806 LONG BEACH, CALIFORNIA 90815 AIA DOCUMENT A312 • PERFORMANCE BOND AND PAYMENT BOND • DECEMBER 1984 ED. - AIA 8 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVE., N.W., WASHINGTON, D.C. 20006 A312-1964 1 THIRD PRINTING • MARCH 1987 NO/100 NO/100