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Home My WebLink AboutA048 - Letter from City Clerk dated June 26, 2012, regarding release of $478,638 performance bond 515 Clark Avenue, P. 0. Box 811 Caring People Ames, IA 50010 Quality Programr Eue.""Service Phone: 515-239-5105 Fax: 515-239-5142 June 26, 2012 North Grand Mall Partners, LLC 257 E. Main Street Barrington, Illinois 60010 Attention Greg Kveton RE: Streets of North Grand Subdivision Ames, Iowa Dear Mr. Kveton: I am now in receipt of a letter addressed to the Mayor and City Council from City Attorney Doug Marek confirming that all of the owners' obligations, as set out in the Supplemental Agreement dated January 10, 2012, pertaining to the Streets of North Grand Subdivision, have been met. As a result, the security requirement of the 2007 Development Agreement is terminated. The Performance Bond filed by you, as Manager of the North Grand Mall Partners, LLC, dated July 10, 2007, in the amount of$478,638.00 is enclosed for your further disposition. Thank you. Sincerely, Diane Voss City Clerk /dry Enclosures 104972949 PERFORMANCE TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA BOND Hartford, Connecticut 06183 (Miscellaneous,not Construction) KNOW ALL MEN BY THESE PRESENTS, That we North Grand Mall Partners, LLC, as Principal, (hereinafter called "Principal"), and Travelers Casualty and Surety Company of America, a Connecticut corporation, as Surety, (hereinafter called "Surety"), are held and firmly bound unto City of Ames, Iowa, as Obligee, in the full and just sum of Four hundred seventy eight thousand six hundred thirty-eight U.S. Dollars ($478,638.00) to be paid to the said Obligee or its successors or assigns for which payment, well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. WHEREAS the Principal has entered, or is about to enter, into a written Agreement with the Obligee for Site Improvement work at the Streets of North Grand subdivision as is more specifically set forth in said Agreement, to which reference is hereby made. NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the Principal shall well and truly perform and carry out the covenants, terms, and conditions of said Agreement, then this obligation to be void; otherwise to remain in full force and effect. Signed this 10th day of July, 2007. North Grand Mall Pa ers, L (Pr inc LCipal) By: GK evelopm nt, Inc., Manager of LLC Travelers Casualty and Surety Company of America By: Tara S. Petersen,Attorney-in-Fact (S-1935-B1)06-03 WARNING:THIS POWER OF ATTORNEY IS INVALID WITHOUT THE RED BORDER ST\PA U L POWER OF ATTORNEY _'TRAVtLERS Farmington Casualty Company St.Paul Guardian Insurance Company Fidelity and Guaranty Insurance Company St.Paul Mercury Insurance Company Fidelity and Guaranty Insurance Underwriters,Inc. Travelers Casualty and Surety Company Seaboard Surety Company Travelers Casualty and Surety Company of America St.Paul Fire and Marine Insurance Company United States Fidelity and Guaranty Company Attorney-In Fact No. 217778 Certificate No. 001204661 KNOW ALL MEN BY THESE PRESENTS:That Seaboard Surety Company is a corporation duly organized under the laws of the State of New York,that St.Paul Fire and Marine Insurance Company,St.Paul Guardian Insurance Company and St.Paul Mercury Insurance Company are corporations duly organized under the laws of the State of Minnesota,that Farmington Casualty Company,Travelers Casualty and Surety Company,and Travelers Casualty and Surety Company of America are corporations duly organized under the laws of the State of Connecticut,that United States Fidelity and Guaranty Company is a corporation duly organized under the laws of the State of Maryland,that Fidelity and Guaranty Insurance Company is a corporation duly organized under the laws of the State of Iowa,and that Fidelity and Guaranty Insurance Underwriters,Inc.is a corporation duly organized under the laws of the State of Wisconsin(herein collectively called the"Companies"),and that the Companies do hereby make,constitute and appoint Dwight F.Miller,David C.Banks,Janice B. Kaplan,Carol F.Tasciotti,Evonne Brown,Adele M. Korczak,Grace Villarreal,Gail Schroeder,Barbara J. Bailey, Cindy Genslinger, Gina M. Damato, Thomas A. Pictor, Erik Janssens, Jane Bronson, Michael Damewood, Rosemary Muliere, Kathleen M. Anderson, Vaenessa Sims, Luisa Catalano, Marva Miller, Jeffrey Malecek, Kristy M. Kreger, Thomas N. Tague, Gabriel Jacquez, Brenda D. Hockberger,Meredith Day,Sarah A. Bibo,Michael A.Clark,Carlina A.Jewell,Tara S.Petersen,Todd D.Baraniak,Dale F.Poquette,Oscar F.Rincon, Heather Meyer, Stephanie Barranco, Patrick J. Brennan,Jr., Jennifer Fortier, Moises Alcantar, James P. Fagan, John F. L. Winans, Casey McCarthy, Dana Junk,and Amar Patel of the City of Naperville State of Illinois their true and lawful Attomey(s)-in-Fact, each in their separate capacity if more than one is named above,to sign,execute,seal and acknowledge any and all bonds,recognizances,conditional undertakings and other writings obligatory in the nature thereof on behalf of the Companies in their business of,guaranteeing the fidelity of persons,guaranteeing the performance of contracts and executing or guaranteeing bonds and undertakings required or permiticdiin any-s4ions or proceedings allowed by law. 21 st IN WITNESS WHEREOF,the Comg006s have caused this instrtuncrrt to be i ne'd and their,corporate seals to be hereto affixed,this day of September ZZ -~ St.Paul Guardian Insurance Company Farmington Casualty Compi Fidelity and Guaranty lilshr ompatl�yN,y St.Paul Mercury Insurance Company Fidelity and Guaranty Insu e�[Jnderwtrtters,Inc. Travelers Casualty and Surety Company Seaboard Surety Company Travelers Casualty and Surety Company of America St.Paul Fire and Marine Insurance Company United States Fidelity and Guaranty Company G,.SUq� $�nery FIFE 6 ��N..~NSA "t":i..su P�tY ANO �F�yy J FA6�p 'V" 'HMO Q�O�Ogf1�- >'b '* � < 7 4 @: '•7 JV;' ..q•`; Z s1982�O � ,1977 BCpRPpy,1ED 192/ g 6 z_ �t eim �m rpORPORgTf;;p� � t S: °[ HAgTFORD, ftIIRiYOflD, �:, •n.' ;mot bG SERL ��e�a � �� 'F tiffs e° ��'- •t a: ,'D o, y • P i 1• OF NEW '�w;M N°E �;��f ''�°'fr.......:rya edr ��D t State of Connecticut By: City of Hartford ss. orge W ompson,Sen' r Vic President 21 st September 2006 On this the day of ,before me personally appeared George W.Thompson,who acknowledged himself to be the Senior Vice President of Farmington Casualty Company, Fidelity and Guaranty Insurance Company,Fidelity and Guaranty Insurance Underwriters, Inc., Seaboard Surety Company, St. Paul Fire and Marine Insurance Company, St. Paul Guardian Insurance Company, St. Paul Mercury Insurance Company,Travelers Casualty and Surety Company,Travelers Casualty and Surety Company of America,and United States Fidelity and Guaranty Company,and that he,as such,being authorized so to do,executed the foregoing instrument for the purposes therein contained by signing on behalf of the corporations by himself as a duly authorized officer. G•TLT In Witness Whereof,I hereunto set my hand and official seal. #)� �& h c-My Commission expires the 30th day of June,2011. * Marie C.Tetreault,Notary Public 58440-6-06 Printed in U.S.A. WARNING:THIS POWER OF ATTORNEY IS INVALID WITHOUT THE RED BORDER WARNING:THIS POWER OF ATTORNEY IS INVALID WITHOUT THE RED BORDER r r This Power of Attorney is granted under and by the authority of the following resolutions adopted by the Boards of Directors of Farmington Casualty Comp-iy,Videlity and Guaranty Insurance Company, Fidelity and Guaranty Insurance Underwriters, Inc., Seaboard Surety Company, St. Paul Fire and Marine Insurance Company, St.Paul Guardian Insurance Company, St. Paul Mercury Insurance Company,Travelers Casualty and Surety Company,Travelers Casualty and Surety Company of America,and United States Fidelity and Guaranty Company,which resolutions are now in full force and effect,reading as follows: RESOLVED,that the Chairman, the President, any Vice Chairman, any Executive Vice President, any Senior Vice President,any Vice President, any Second Vice President,the Treasurer,any Assistant Treasurer,the Corporate Secretary or any Assistant Secretary may appoint Attorneys-in-Fact and Agents to act for and on behalf of the Company and may give such appointee such authority as his or her certificate of authority may prescribe to sign with the Company's name and seal with the Company's seal bonds,recognizances,contracts of indemnity,and other writings obligatory in the nature of a bond,recognizance,or conditional undertaking,and any of said officers or the Board of Directors at any time may remove any such appointee and revoke the power given him or her;and it is FURTHER RESOLVED,that the Chairman,the President,any Vice Chairman,any Executive Vice President,any Senior Vice President or any Vice President may delegate all or any part of the foregoing authority to one or more officers or employees of this Company,provided that each such delegation is in writing and a copy thereof is filed in the office of the Secretary;and it is FURTHER RESOLVED,that any bond,recognizance,contract of indemnity,or writing obligatory in the nature of a bond,recognizance,or conditional undertaking shall be valid and binding upon the Company when(a)signed by the President,any Vice Chairman,any Executive Vice President,any Senior Vice President or any Vice President,any Second Vice President,the Treasurer,any Assistant Treasurer,the Corporate Secretary or any Assistant Secretary and duly attested and sealed with the Company's seal by a Secretary or Assistant Secretary;or(b)duly executed(under seal,if required)by one or more Attorneys-in-Fact and Agents pursuant to the power prescribed in his or her certificate or their certificates of authority or by one or more Company officers pursuant to a written delegation of authority; and it is FURTHER RESOLVED,that the signature of each of the following officers:President,any Executive Vice President,any Senior Vice President,any Vice President, any Assistant Vice President,any Secretary,any Assistant Secretary,and the seal of the Company may be affixed by facsimile to any power of attorney or to any certificate relating thereto appointing Resident Vice Presidents, Resident Assistant Secretaries or Attorneys-in-Fact for purposes only of executing and attesting bonds and undertakings and other writings obligatory in the nature thereof,and any such power of attorney or certificate bearing such facsimile signature or facsimile seal shall be valid and binding upon the Company and any such power so executed and certified by such facsimile signature and facsimile seal shall be valid and binding on the Company in the future with respect to any bond or understanding to which it is attached. I,Kori M.Johanson,the undersigned,Assistant Secretary,of Farmington Casualty Company,Fidelity and Guaranty Insurance Company,Fidelity and Guaranty Insurance Underwriters, Inc., Seaboard Surety Company, St. Paul Fire and Marine Insurance Company, St. Paul Guardian Insurance Company, St. Paul Mercury Insurance Company,Travelers Casualty and Surety Company,Travelers Casualty and Surt tamp 'Amen, d United States Fidelity and Guaranty Company do hereby certify that the above and foregoing is a true and correct copy of the Powe� 9Ytornex ed bs, ompanies,which is in full force and effect and has not been revoked. Nam. �! hh IN TESTIMONY WHEREOF,I have hereunto set my hand awl�ed the sibs saic{ anies this day of /r 20 V� $ ' Kori M.Johans Assistant Secretary G�SU1�r 51WEty JV f1PE6y O`^N �//'rG,9 ,/rp+'..r% INS,, bJ'�tY ANpa ygtn. cU7Y'4y0 O�y�ppq�,J ♦ 9 �q.ORG°gq>•�,f t!?� ' WRPOgAT�. _.... :b-`*E�'- r � 1951 NO �r "•SEAL,.�O"1 �; `O i CONN. ° � 'nO7 �'y ��•+° 4�, + ,� ''�a �°' °�d'-•...._..�al oS81iL;;e Oar° �w�` �1 ,�} To verify the authenticity of this Power of Attorney,call 1-800-421-3880 or contact us at www.stpaultravelersbond.com.Please refer to the Attorney-In-Fact number, the above-named individuals and the details of the bond to which the power is attached. WARNING:THIS POWER OF ATTORNEY IS INVALID WITHOUT THE RED BORDER