CC - Item 4E - Release of Certificate of Deposit Parcel Map 62018ROSEMEAD CITY COUNCIL
STAFF REPORT
TO: THE HONORABLE MAYOR AND CITY COUNCIL
FROM: JEFF STEWART, INTERIM CITY MANAGER
DATE: MAY 12, 2009
SUBJECT: RELEASE OF CERTIFICATE OF DEPOSIT - PARCEL MAP 62018 (4214-4220
BARTLETT AVENUE)
A Faithful Performance Bond and a Labor and Material Bond were required to guarantee
construction of sewer laterals, driveways, sidewalk, a parkway drain, and a parkway tree for
Parcel Map 62018. In lieu of bonds, a Certificate of Deposit was issued to the City in the
amount of $14,550.
Staff Recommendation
Staff recommends that the City Council accept the public improvements and survey monuments
and authorize the release of the Certificate of Deposit including interest.
ANALYSIS
In accordance with the Conditions of Approval for Tentative Parcel Map No. 62018 approved by
the Rosemead Planning Commission, the subdivider is required to construct sewer laterals,
driveways, sidewalk, a parkway drain, and a parkway tree subsequent to recordation of the
parcel map. On April 22, 2008, the subdivider executed an Undertaking Agreement to
guarantee completion of the public improvements within two years. In lieu of providing a
Faithful Performance Bond and Labor and Material Bond, the subdivider provided a Certificate
of Deposit in the amount of $14,550. The City Engineer has inspected the public improvements
and survey monuments and found them to be satisfactory.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Prepared by
Lucien J. LeBlanc, P.E.
City Engineer
Submitted by:
1
Chris Marcarello
Deputy Director of Public Works
Attachment A: Undertaking Agreement
APPROVED FOR CITY COUNCIL AGENDA:
CITY OF ROSEMEAD
UNDERTAKING AGREEMENT
and entered this 1'4 day of 2008, by and
THIS AGREEMENT made a ~
between the CITY OF ROSEMEAD, State of California, acting by and through its City
Council, hereinafter referred to as "CITY" and
T)ATWA^A C wN -r u CTraN xAjC
(NAME)
(M Gi C7AP, TRACE w. Co Vi ',,JA c--4 91-7q z .
(ADDRESS)
hereinafter called the "CONTRACTOR."
WITNESSETH:
FIRST: The CONTRACTOR, for and in consideration of purchase of the property of
that certain land division known as Parcel Map 62018 hereby agrees, at the
CONTRACTOR'S own cost and expense to furnish all labor, materials, and equipment
necessary to perform and complete, and within twenty-four (24) months from the date of
closing escrows, to perform and complete in a good and timely manner, the following work,
to wit:
Construct sewer laterals, driveways, sidewalk, and parkway drain; and plant
parkway tree.
Said work shall be done to the satisfaction of the City Engineer and shall not be
deemed complete until approved and accepted as completed by the City Council of the
CITY. The estimated cost to do all work and furnish all materials necessary to complete the
work is $9,700.
SECOND: The CITY shall not nor shall any officer or employee thereof, be liable or
responsible for any accident, loss, or damage happening or occurring to the work specified
in this agreement prior to the completion and approval of same; nor shall the CITY, nor any
officer or employee thereof, be liable for any persons or property injured by reason of the
nature of said work, or by reason of the acts or omissions of the CONTRACTOR, his
agents, or employees, in performances of said work. All of said liabilities shall be assumed
by the CONTRACTOR. The CONTRACTOR further agrees to protect and hold harmless
the CITY, its officers, and employees, in performance of said work. All of said liabilities shall
be assumed by the CONTRACTOR.
The CONTRACTOR further agrees to protect and hold harmless the CITY, its
officers, and employees, 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 the CONTRACTOR,
his agents, and employees, in the performance of this agreement, or arising out of the use
of any patent or patented article, in the performance of said agreement.
THIRD: The CONTRACTOR hereby grants to the CITY, the Surety upon any Bond,
and to the agents, employees, and CONTRACTOR or either of them, the irrevocable
permission to enter upon the lands of the subject land division for the purpose of completing
the work. This permission shall terminate in the event that the CONTRACTOR or the Surety
has completed the work within the time specified or any extension thereof granted by the
City Council.
FOURTH: It is further agreed that the CONTRACTOR shall have the control of the
ground reserved for the installation of said work, and the streets in which they are to be
placed, as is necessary to allow him to carry out this agreement.
FIFTH: Contemporaneously with the execution of this Agreement, CONTRACTOR
shall file with the CITY a Time Certificate of Deposit in the amount of Fourteen Thousand
Five Hundred Fifty Dollars ($14,550) to guarantee faithful performance of all the provisions
of this agreement and for the payment of all persons performing labor and furnishings
materials in connection with this agreement. If the Time Certificate of Deposit, in the
opinion of the CITY, becomes insufficient, CONTRACTOR agrees to renew said Time
Certificate of Deposit within ten days of receiving notice that Time Certificate of Deposit is
insufficient.
SIXTH: If the CONTRACTOR neglects, refuses, or fails to prosecute the work with
such diligence as to ensure its completion within the time specified, or within such
extensions of said time as have been granted by the City Council, or if the CONTRACTOR
violates or neglects, refuses, or fails to perform satisfactorily any of the provisions of the
plans and specifications, he shall be in default of this agreement and notice in writing of
such default shall be served upon him and upon any Surety in connection with this contract.
The City Council shall have the power, on recommendation of the City Engineer, to
terminate all rights of the CONTRACTOR or his Surety then existing or which thereafter
occur because of such default. The determination by the City Engineer of the question as to
whether any of the terms of the contract or specifications have been violated, or have not
been performed satisfactorily, shall be conclusive upon the CONTRACTOR, his Surety, and
any and all other parties who may have any interest in the contract or any portion thereof.
The foregoing provisions of this section shall be in addition to all other rights and remedies
available to the CITY under law.
SEVENTH: In case suit is brought upon this contract, the CONTRACTOR hereby
agrees to pay to the CITY a reasonable attorney's fee to be fixed by the Court.
EIGHTH: It is further agreed by and between the parties hereto, including the Surety
or Sureties on any Bond attached to this contract, that in the event it is deemed necessary
to extend the time of completion of the work contemplated to be done under this contract,
said extension may be granted by the City Council, either at its own option, or upon request
of the CONTRACTOR, and shall in no way affect the validity of this contract or release the
Surety of Sureties on any Bond attached hereto.
IN WITNESS THEREOF, the parties hereto for themselves, their heirs, executors,
administrators, successors, and assigns do hereby agree to the full performance of this
agreement and affix their names, titles, and seals this day as above indicated.
By
(Seal)
Note:
Y
SIGNATURES MUST BE ACKNOWLEDGED
BEFORE A NOTARY PUBLIC.
(ATTACH APPROPRIATE ACKNOWLEDGEMENTS)
By k v
May of the City of Rosemead
"'8
City Clerk o the City of Rosemed
Bankof America -%j
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DP Promromotionaal l CD
El Bonding Purpose CD
BANKING CENTER No.
CUSTOMER NAME
PLEDGED TO C%Z Vz, d
DATE
INTEREST RATE
ANNUAL PERCENTAGE YIELD
S AMOUNT
ACCOUNT TERM
MATURITY DATE
ACCOUNT #
CD Receipt
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The written information we eve{ynu (which ' e ep stt agreement, fee schedule and deposit rates sheet) is part of your agreement with us and tells you the
current terms of this account- This time depo tt invests automatically for the same account term upon maturity or on the effective date of a deposit or withdrawal
made during the grace period. (The grace perio egins on the maturity date and is two business days for terms of 29 days or less; five calendar days for terms of 30
days through 89 days; seven calendar days for terms of 90 days or more.) We determine the interest rate for the reinvested deposit on the date your funds are reinvested.
For information about early withdrawal penalties, please see the deposit agreement. For Promotional CDs, a limited number of withdrawals may be allowed without
an early withdrawal penalty (see Deposit Rates sheet). A personal time deposit is not transferable.
05-16-2576B 08-2006 RacycWd Paper Bank or America, N.a. • Member FDIC
NOT NEGOTLABLE
State of California CALIFORNIA ALL-PURPOSE
County of LOS ANGELES ) CERTIFICATE OF ACKNOWLEDGMENT
On APRIL 14, 2008 before me, 4ANT)Y T FF, Nr1TARY PTTRT Tr. ,
(here insert name and title of the officer)
personally appeared STEVEN VAN
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/ate subscribed to
the within instrument and acknowledged to me that he/sWthey executed the same in his/her/their
authorized capacity('tes), and that by his/her/their signature(s) on the instrument the person(sr, or the entity
upon behalf of which the person(x) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the
State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official se I.
Signature
OPTIONAL INFORMATION
SANDY lEE
Commission # 17rl76S3
Notary Public - California
' Los Angeles County
Comm. Egxw Dec 26, 2011
(Seal)
Although the information in this section is not required by law, it could prevent fraudulent removal and reattachment of this
acknowledgment to an unauthorized document and may prove useful to persons relying on the attached document.
Description of Attached Document
The preceding Certificate of Acknowledgment is attached to a document
titled/for the purpose of UNDERTAKING AGREEMENT
containing pages, and dated
Thp Signer(s) capacity or authority is/are as:
❑ Individual(s)
❑ Attomey-in-fact
❑ Corporate Officer(s)
rile(s)
n Guardian/Conservator
❑ Partner - Limited/General
❑ Trustee(s)
❑ Other:
representing:
Name(s) of Person(s) or Entity(les) Signer is Representing
Method of Signer Identification
Proved to me on the basis Of 5dtl5racWry CVlUt41ur
o form(s) d identification C)credible witness(es)
Notarial event is detailed in notary journal on:
Page a Entry If
Notary contact:
Other
❑ Additional Signer(s) ❑ Signer(s) Thumbprint(s)
71
0 Copyright 2007 Notary Rotary, Inc 925 29th 5t.. Ue9 Moines. rn W31 Z-3014