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Home My WebLink AboutAgenda Statement 1980/01/22 Item 14CITY OF CHULA VISTA COUNCIL AGENDA STATEMENT Item No. •T4 For meeting of 1/22/80 Resolution ~f,~~` Approving Agreement for Deferral of Undergrounding at 40 North Fourth Avenue and Accepting Surety Bond SUBMITTED BY City Engineer ITEM EXPLANATION (4/5TH'S VOTE REQUIRED YES NO x ) On August 22, 1978, Council approved the deferral of undergrounding of overhead facilities at 40 North Fourth Avenue subject to the execution of an agreement for such deferral between FedMart and the City. This agreement was also to provide for the posting of a bond in an amount adequate to assure this undergrounding when the undergrounding for "C" Street i s accomplished . Such an agreement has been prepared. It has been executed by FedMart and a surety bond in the amount of $85,250 has been submitted to assure their faithful performance under the agreement . ~~ ~e~ RLD:nr/ FY009 tXN 1 ti 1 15 Agreement x Resolution Ordinance Plat x Notification List Other ENVIRONMENTAL DOCUMENT: Attached Submitted on FINANCIAL IMPACT None STAFF RECOMMENDATION Approve the agreement, authorize the Mayor to sign said agreement, and accept surety bond in the amount of $86,250. BOARD/COMMISSION RECOMMENDATION COUNCIL ACTION ~~~~ by the ~i$Y „~,.'n ~!! of Chub VS:;3, .' +`t~rt~ia '~a~nrj ~" ~ 02'"4 V Form A-113 (Rev. 5/77) 80-040133 Sunbelt Properties, Inc. P. 0. Box 1828 San Diego, CA 92112 DEFERRAL BOND FOR 40 NORTH FOURTH AVENUE In accordance with the deferral agreement dated January 4, 1980 between the City of Chula Vista and Fed Mart Stores (Item 6), the City is obliged to release the surety bond submitted for future performance by Fed Mart (i.e., undergrounding of overhead utilities). Enclosed is the required letter of release and the original bond. I would appreciate it if you would forward the letter and bond to the Los Angeles firm which handled this surety. We have no information on the exact location to which this material should be sent. If you have any questions regarding this matter, please call John Hardesty, Permits Engineer, at 691-5040. JOHN P. LIPPITT DIRECTOR OF PUBLIC WORKS/CITY ENGINEER BY: ROGER L. DA SENIOR C VIL ENG NEER JWH:av cc: Tom Harron, City Attorney _ Jennie Fulasz, City Clerk Enclosures (66:SUNBELT) 276 Fourth Avenue Chula Vista,CaHforriia 92rno .~ DEPARTMENTAL CORRESPON~ENC~ DATE: September 21, 1984 TO: John Lippitt, City Engineer _ 1 FROM: Tom Harron, City Attorne ' SUBJECT: Release of Bond for Sunbelt Properties, Inc. This will confirm our conversation in which I advised you we are obliged to release the bond for Sunbelt Properties, Inc. (formerly known as Fed-Mart Stores, Inc.) under our deferral agreement. Section 6 of this agreement states that the property owner's obligations shall continue only so long as they remain sublessee and lessee under that certain lease between Minniebelle Beach and Unimart, Inc. Since they have been released from the latter lease, their obligations are now concluded under our agreement and they are entitled to release of the security. TJH:clb C~.~y o~ Chula V~.s~a, Cali,~onn~.a A 111 ;~' ~ ~~•. .:•:. BOND N0. M 15 93 41 SURETY BONll FOR F11ITfiFUL PERFORb'IADICE KNOW ALL PERSONS BY Tt1ESE PRESENTS; That eve FED-MART STORES , INC . a cormoration of . 3851 Ro~ecran~ an iPgo California as Principal, and INS[IB.ANGE COMPANY OF NORTH AMERICA - of _Los Angeles , California , a corporation, incorporated under the laws of the State of _Pennsvl_vani_a , and duly authorized under the la~•~s of the Stat of California to act as Surety, are held and firmly bound unto CITY OF CHULA VISTA in the sum of EIGHTY SIX THOUSAND TWO_HUNDRED FIFTY AND NO 00 6 2 0 00) DOLLARS - -lawful mo*~ey of the United States of America, for the payment whereof, well and truly to be made, said Principal and Surety bind themselves, their heirs, administrators, successors and assigns, jointly and severally, firmly by these presents. The condition of the foregoing obligation is such that whereas the above bounden Principal has agreed to perform certain work for ttie property known as 40 North Fourth Avenue Chula Vista Califo ,. in accordance with Agreement for deferra-1 0~ and r roundin overhead acilited - 'T~n-tt v 4 19R~ ~ and is required by the said 1 y of Chula Vis~~-' to give a bond to guarantee the performance and the completion of said work NOW, TIiEREFORE, if the said Principal shall we 1.1 and truly perform all the work :specified in said agreement, then this obligation shall be null and void, otherwise to remain in. full force and effect. The Surety does hereby consent to any and all alterations, modifica- tions and revisions to the Agreement secured by this Bond, including but not limited to any extensions of time for performance which may be agreed upon by and between City of Chula Vista and the Prin~:ipal. SIGNED AND SEALED AT Los Angeles, California on this 2nd day of January ~ lg • FED-MART TORES, _ P:ame o~:~ompany APPROVED AS ~i'O •ORD By_ ~ ~~~ L ence M. Sherman,..rxe ut vi e ' Vice President George Lindberg, City Atto ey INSURA~iE COMPANY ;-NO H AMERICA Name of Bonding ~~n~~ai~y -~-- BUJ - Audrey G. Go PW-E-100 ~~~.~-1 ttorney-in-Fact z •• • ~ ' sr ~. ~ ~ 'v r POWER OP`...fTORNEY C INSURANCE COMPANY OF NORTH AMERICA PHILADELPHIA, PA. Know all men by these presents: That the INSURANCE COMPANY OF NORTH AMERICA, a corporation of the Commonwealth of Pennsylvania, having its principal office in the City of Philadelphia, Pennsylvania, pursuant to the following Resolution, which was adopted by the Board of Directors of the said Company on May 2$, 1975, to wit: '•RESOLVED, pursuant to Articles 3.6 and 5.1 of the By-Caws, the following Rules shall govern the execution for the Company of bonds, under- takings, recognizances, contracts and other writings in the nature thereof: (1) That the President, or any Vice-President, Assistant Vice-President, Resident Vice-President or Attorney-in-Fact, may execute for and in behalf of the Company 8ny and all bonds, undertakings, recognizances, contracts and other writings in the nature thereof, the same to be attested when necessary by the Secretary, an Assistant Secretary or a Resident Assistant Secretary and the seal of the Company affixed thereto; and t}tat the President or any Vice-President may appoint and authorize Resident Vice-Presidents, Resident Assistant Secretaries and Attorneys-in-Fact to so execute or attest to the execution of all such writings on behalf of the Company and to affix the seal of the Company thereto. (2) Any such writing executed in accordance with these Rules shall be as binding upon the Company in any case as though signed by the President and attested by the Secretary. (3) The signature of the President or aVice-President and the seal of the Company may be affixed by facsimile on any power of attorney granted pursuant to this Resolution, and the signature of a certifying officer and the seal of the Company may be affixed by facsimile to any certificate of any such power, and any such power or certificate bearing such facsimile signature and seal shall be valid and binding on the Company. (4) Such Resident Officers and Attorneys-in-Fact shall have authority to certify or verify copies of this Resolution, the By-Laws of the Company, and any affidavit or record of the Company necessary to the discharge of their duties. (S) The passage of this Resolution does not revoke any earlier authority granted by Resolution of the Board of Directors on June 9, 1953." does hereby nominate, constitute and appoint AUDREY G. GOLDNER, of the City of Los Angeles, State of California each individually if there be more than one named, true and lawful attorney-in-fact, to make, execute, seal and deliver on its behalf, and as its act and deed any and all >nds, undertakings, recognizances, contracts, and other writings in the nature thereof in penalties not exceeding FIVE HUNDREn THOUSAND DOLLARS ($.. 500,~On • fJ0~ each, and the execution of ch writings in pursuance of these presents, shall be as binding upon said Company, as fully and amply, as if they had been lly executed and acknowledged by the regularly elected officers of the Company at its principal office. IN WITNESS WHEREOF, the said .....................C.....AAN~EL..ARAICE..................................., Vice-President, has hereunto bscrib2ndhis name and affixed the corporate seal of the said INSURANCE COMPANY OF NORTH AMERICA this ............ -------------------------------•---- daY of .....-------.....---- Jude------...........-------•---...---............... ~ 9.....-z-~-----• INSURANC~~(P}A..N~~~,C~, F~ TH AMERICA -~~ ~ 1 Q--~,. by .................................................................................................... Vice-President ATE OF PENNSYLVANIA AUNTY OF PHILADELPHIA I ss. On this ..............2~a........................day of..............---..June......:....................----....... A.D. 19 .~.6....., before me, a Notar Public of the ~mmonwealth of Pennsylvania, in and for the County of Philadelphia, came -.....-... C • DANIEL DRAKE ................................................................................. ••••••••••••••••••••-••••-~••••••••••••••••• ................ Vice-President of the INSURANCE COMPANY OF NORTH AMERICA to me personally known be the individual and officer who executed the preceding instrument, and he acknowledged that he executed the same, and that the ~I affixed to the preceding instrument is the corporate seal of said Company; that the said corporate seal and his signature were duly fixed by the authority and direction of the said corporation, and that Resolution, adopted by the Board of Directors of said Company, 'erred to in the preceding instrument, is now in force. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixe m official seal at the City of Philadel~a, the day and tr first above written. L - AL) ....... ... ..... ............. ~ Notary Publrc._... `a, o mission expires August 13, 1979 s ersigned, Assistant Secretary of INSURANCE COMPANY OF NORTH AMERICA, do hereby certify that the original ~ T NEY, of which the foregoing is a full, true and correct copy, is in full force and eff s hereof, I have hereunto subscribed my name as Assistant ~t;.Fretar and affixed the orp to seal of the Corpora- ' a y January y ~: 5 - .~, ...zriC~ ..................da of...................... ............. ....................19......... a .. • 6/75 PRINTED IN U.S.A. Assistant Secretary. r" • ~, ~ ~,, ~ I%/C/N/TY z i ~ a-n ~ A'AT/ONAL ~ ~ ~ ~ Q ~ C/Ty o ~ o Q; _ i ` -~. SCALE ~t"=150' ZI _ _ _ _ _ _ _ I V ~C'STREET FEDMART GEN. Ro Q PARK C~vuLA ~ v~Srq p 0 _ ~ HEAVY OI/E~'hlEAD TEL E~HO/VE --~ ~, 50'f _ ~ AVENUE 69, 000 VOLT ~~ /2, 000 VOLT - ' " OL D JACK 4, 000 VOLT ,: 5 o': TRA/~ `' ouE2vEao ,oowEa /2,000 VOLT (DEFERRED ~~~~ !~ DRAWN BY ___ L_M. G___ BATE ~_ ~.5_8~ LAUNORy ~- I- W W 600~t F- MK-.- U I ~DEFEl~~Ep) , ~ I P~ ail OI/ERyEAO TELEPNO/YE -- -% ' ;~ OVEl2r/EAD AOWEl2 - - ' P T I T L E UNDERGROUND/NG DEFERRAL FEDMART STORES /NC. 40 N. FOURTH AVENUE