Loading...
23-0525_PACIFIC POINT DEVELOPMENT PARTNERS, LLC_Bond Release Letter (SU1133499)30448 Rancho Viejo Road, Suite 110 San Juan Capistrano, CA 92675 (949) 493-1171 (949) 493-1053 Fax www.SanJuanCapistrano.org May 25, 2023 Arch Insurance Company 550 S. Hope Street, Suite 2800 Los Angeles, CA 90071-2681 Re: Release of Bonds — Pacific Point Development Partners, LLC To whom it may concern: MEMBERS OF THE CITY COUNCIL: Troy Bourne John Campbell Sergio Farias Howard Hart John Taylor This letter is to inform you that the following bond issued to Pacific Point Development Partners, LLC for Conservation Measures for Tracts 14196 and 16750 is officially released as of May 25, 2023: BOND NO. PURPOSE BOND AMOUNT SU1133499 Subdivision Faithful Performance Bond $ 3,000,000.00 The City of San Juan Capistrano hereby fully and forever releases and discharges the Arch Insurance Company from any and all liability under the abovementioned bond number. Enclosed please find the original released bonds. If you have any questions, please do not hesitate to call me at (949) 443-6310. Sincerely, Christy Jakl, CMC Assistant City Clerk Enclosures as noted cc: Thomas Toman, Public Works Director Jeremy Hohnbaum, Senior Civil Engineer Justin Inducil, Engineering Technician z SUBDIVISION FAITHFUL PERFORMANCE BOND (GOVERNMENT CODE 66499.2) Bond No. SU1133499 KNOW ALL MEN BY THESE PRESENTS, that Pacific Point Development Partners, LLC (hereafter designated as "Principal"), and Arch Insurance Company, as Surety (hereinafter called "Surety") agree to install and complete certain designated public improvements as conditioned by City Council Resolution No's. 92-6-16-4 and 03- 09-16-06. WHEREAS, said Principal is required to furnish a bond pursuant to Municipal Code Section 9-5.101 and 9-5.109 et seq., for the faithful performance to guarantee certain work, more particularly described as follows: Pacifica San Juan 4(d) Conservation measures for Tentative Tract 14196 (Tracts 14196 and 16750) including obligations of Principal under the Interim Habitat Loss Permit consistent with Interim Habitat Loss Implementation Agreement with WHEREAS, the California Department of Fish and Wildlife ("Department') and U.S. Fish and Wildlife Service ("Service") issued a revised 4(d) interim habitat loss permit concurrence letter to the City of San Juan Capistrano for the Pacific Point Project dated February 11, 2015. The City of San Juan Capistrano ("Obligee") will consider Departments request that the Obligee make a demand of the bond upon the Departments determination that Principal has failed to meet its mitigation obligations under the Habitat Loss Permit. NOW, THEREFORE, we, the Principal and Surety are held firmly bound unto the City of San Juan Capistrano, (hereafter called "Obligee") in the penal sum of Three Million and OOMOO Dollars, ($3,000,000.00) lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally, firmly by these presents. Page 1 of 3 RELEASE[ Date: Signature: CityClerk apystrano, CI City of San NOW, THEREFORE, the condition of this obligation is such that, if Principal shall promptly and faithfully perform said improvement obligations within the fully executed and recorded subdivision improvement agreement, then the obligation shall be null and void; otherwise it shall remain in full force and effect. BE IT FURTHER RESOLVED: 1. As a part of the obligation secured hereby, and in addition to the face amount specified, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered. 2. Said Principal, for value received, hereby stipulates and agrees that no change, extension of time, alteration, or modification of the contract documents or of the work to be performed thereunder, shall in any way affect its obligations or this bond, and it does hereby waive notice of any such change, extension of time, alteration, or modification of the contract documents or of work to be performed thereunder. IN WITNESS WHEREOF, this instrument has been duly executed by the Principal herein named on the 7th day of July, 2015, the name and corporate seal of each corporate party being hereto affixed and these presents duly signed by its undersigned representatives pursuant to authority of its governing body. PRINCIPAL: Pacific Point Development Partners, LLC, a Delaware limited liability company By: Taylor orrison Pacific Point Holdings, LLC Its Managin ember BJ - Its: Its: `1,CA- --�>reIs."\- SURETY: Arch Insurance Company By: !YIIGtl�• Avc� Marg" et A. Ginem, Attorney -in -Fact 0'O VOLI.IS OP PLORIDA" '!'" Page 2 of 3 4211 W. Boy ScaUT BLVD, #IB00'''`' � -1i -rAMPA, FL 33607 INQUIRIES>(813)281.2095- (NOTARIZATION AND SEAL) (NOTARIZATION AND SEAL) f APPROVED AS TO FORM: (VOTE: Please attach Acknowledgement and Power of Attorney Page 3 of 3 Seliate Bill. 1:b50: arriend� S�ct"itlnd J:.189 :anc� ] l�''Af. #lie CYil Coc)� Mail. Sediion, &202':of`.tIie ,44qq: is a"gpmpjq,.,fq-r PA.0 ill cerflfibate verifies only the id , 641ty-of1p. "fiwiVe1,-Itwwliicfi this i=t!ficztaIs,.aftand a6hed -no . tffi -e t I rd I ffi . Addur.acy, qzvalidity. Of that do, .st* Ofoalifwa, couay'.Of 7...201.5...... voy,o to Z6 1. ­. / ' c464' �Wfikrie(�) is 6teSubs .-td 4he withfiiiiistment and. acknow.10jed 'to -,me- that he/sWthq exerdte, d the same- in,.hisffierltfie�ir of ft of V iwUeperson(sj acted; executed the'instruuienE, '.,Y- Odef-& :,ofA'4, State of _.M paWaph-_I's,Ilrue an&eorxeQi: ,(geal) ASHLEY JEAN MOELTER Commission # 2116903 Notary Public - California Orange County M� Comm. Expires Jun 23.2019! 3.2019 t ACKNOWLEDGEMENT BY SURETY STATE OF FLORIDA ' SS. COUNTY OF HILLSBOROUGH On this Ph day of July, 2015 before me, personally came Margaret A. Ginem, who is personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed the within Instrument as Attorney -In -Fact on behalf of Arch Insurance Company, and acknowledged to me that he/she executed the within instrument on behalf of said surety company and was duly authorized to do. In witness whereof, I have signed and affixed my official seal on the date in this certificate first above written. Signature. nella CommissionitEE1701ti5 N Q _ Cxpires May 5"2016600 E�rC:-07MiTrw Fan:1%9 ....rwe'uww This area for Official Notarial Seal AIC 0000155804 THIS POWEROFATTORNEY IS NOT VALID UNLESS ITIS PRINTED ON BLUE BACKGROUND. = This Power of Attorney limits the acts of those'named herein, and they have no_authorRy to bind the Company except In the _ manner and to the extent herein stated. Not. valid fo'r Mortgage, Note, Loan, Letf_er-of Credit, Bank Deposit, Currency Rate, Interest Rate or Residential Value Guarantees. - - POWER OF ATTORNEY Know A!I Persons By These Presents: That the Arch Insurance Company, arcorporation organized and existing under the laws of the State of Missouri, having its principal administrative office in Jersey City, New Jersey (hereinafter referred to as the "Company") does hereby appoint: Anett Cardinale, Brandy Baich, David H. Carr, Eileen C, Heard and MargaretA. Gir em of Tampa, FL (EACH) its true and lawful Attomey(s)in-Fact, to make, execute, seal, and deliver from the date of issuance of this power for and on its behalf as surety, and as its act and deed: Any and all bonds, undertakings, recognizances and other surety obligations, in the penal sum not exceeding - Ninety Million Dollars ($90,000,000-00). + - _ ' • • _ . This authority does not permit the sarne obligation to be split Into two or more bonds In order to bring each such bond within the dollar limit of authority as set forth herein. The execution of such bonds, undertakings, recognizances and other surety obligatioos,_in pursuance of these presents shall be as binding upon the said Company as fully and amply` tb, all intents and purposes . if- --a--same had been duly executed and - - acknowledged by its regularly elected officers at its•principal administrative'office in—Jersey—City,. New Jersey. This Power of Attorney is executed by authority of resolutions adapted by unanimous consent of the Board of Directors of the Company on September 15, 2011, true and accurate copies of which are hereinafter set forth and are hereby certified to by the undersigned Secretary as being in full force and effect: "VOTED, That the Chairman of the Bdatd5the`President,br the Executive Vice President, or any Senior Vice President, of the Surety Business Division, or their appointees designated in writing and fled with lhe,Searetary, or the Secretary shall have the power and authority to appoint agents and attorneys -in -fact, and to authorize them subject to the limitations set forth in their respective powers of attorney, to execute on behalf of the Company, and attach the seal of the Company thereto, bands, undertakings, recognizances and other surety obligations obligatory in the nature thereof, and any such officers of -the Company may appoint agents for acceptance of process.- This rocess"This Power of Attorney is signed, sealed and certified by.facsimile under and by authority_ of the following resolution adopted by the unanimous consent of the Board of Directors of the Company on September 15._126M — - VOTED, That the signature of the Chairman of the Board, the President, or the Executive Vice President, or any Senior Vice President, of the Surety Business Division, or their appointees__ designated in writing and filed with the Secretary, and the signature of the. _ Secretary, the seal of the Company, and -cert -0-16 ions by the Secretary, may be affixed by facsimile on any power of attorney or bond executed pursuant to the resolution'adopted _by the Board of Directors on September 15, 2011, and any such power so executed;_ sealed and certified with respect tb_any bond dr'undertaking to which it is attached, shall continue to be valid and binding upon the Company. OOMLOO13 00 03 03 Page 1 of 2 Printed in U.S.A. AIC 0000155804 In Testimony Whereof, the Company has caused this instrument to be signed and Its corporate seal to be affixed by their authorized officers, this 2n° day of June, 2015. Attested and Certified #r \C D< SrAL Patrick K. Nails, Secretary k4lovd STATE OF PENNSYLVANIA SS COUNTY OF PHILADELPHIA SS Arch Insurance Company David M. m e stein, Executive Vice President I, Helen Szafran. a Notary Public, do hereby certify that Patrick K. Nails and David M. Finkelstein personally known to me to be the same persons whose names are respectively as Secretary and Executive Vice President of the Arch Insurance Company, a Corporation organized and existing under the laws of the State of Missouri, subscribed to the foregoing instrument, appeared before me this day in person and severally acknowledged that they being thereunto duly authorized signed, sealed with the corporate seal and delivered the said instrument as the free and voluntary act of said corporation and as their own free and voluntary acts for the uses and purposes therein set forth. C CannissianE� rasOctcbar3,201) lelen Szafran, Lary Iyublidy My commission expires 10/0312017 CERTIFICATION I, Patrick K. Nails, Secretary of the Arch Insurance Company, do hereby certify that the attached Power of Attorney dated June 2. 2015 on behalf of the person(s) as listed above is a true and correct copy and that the same has been in full force and effect since the date thereof and is in full force and effect on the date of this certificate; and I do further certify that the said David M. Finkelstein, who executed the Power of Attorney as Executive Vice President, was on the date of execution of the attached Power of Attorney the duly elected Executive Vice President of the Arch Insurance Company. IN TE TIONY WHE�„)'have hereun)o subscribed my name and affixed the corporate seal of the Arch Insurance Company on this qday of d S�-(, 20/�—. Uel J n n ri , r !1 Patrick K. Nails, Secretary This Power of Attorney limits the acts of those named therein to the bonds and undertakings specifically named therein and they have no authority to bind the Company except in the manner and to the extent herein stated. PLEASE SEND ALL CLAIM INQUIRIES RELATING TO THIS BOND TO THE FOLLOWING ADDRESS: Arch Insurance – Surety Division Fi 3 Parkway, Suite 1500Philadelphia, PA 19102 00ML0013 00 03 03 Page 2 of 2 Printed In U.S.A. TaylorMorrison April 25^, 2023 Jeremy Hohnbaum City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, CA. 92675 RE: Bond Release Request Mr. Hohnbaum, TAYLOR MORRISON Southern California Division 4695 MacArthur Court, 811 Floor Newport Beach. CA 92660 p. (949) 833-3600 taylonnorrison.corn Pacific Point Development Partners, LLC (Taylor Morrison) respectfully requests the following bond at the Pacifica San Juan community to be exonerated: Pacifica San Juan — Trs. 14196, 16750 T �aot ' ' , gond Nb. , i Description ', ;. Amdunt Pacifica San Juan —4(d) Conservation measures for Tentative Tract 14196 (Tracts 14196 and 16750) including obligations of the Principal 14196, SU1133499 under the Interim Habitat Loss Permit consistent with Interim Habitat $3,000,000.00 16750 Loss Implementation Agreement with City Please do not hesitate to contact me if you have any questions or require additional information. Thank you. Sincerely, Sean Doyle Vice President - Forward Planning taylor taylor, . TaylorMorrison' morrison. ID Darlfn "morrison. RINSPIRED � aylor:CE �✓ 1'-10 j%111 I' S HOME FUNDING q,4i-1-�=+E'v'Z..`