HomeMy WebLinkAboutS_Release_Letter_Maintenance_Bond_LB8800_LUA11-053_190402Denis Law MayorApril2,2019i.G.Real Estate Group NW LLC18124RivieraPlaceSWNormandyPark,WA 98166 Community &Economic Development C.E.‘Chip’Vincent Administrator
SUBJECT:
Dear Sir/Madam
RELEASE OF POWER OF AHORNEY AND MAINTENANCE BOND #LBS800
LARSONS PARK SHORT PLAT /LAND USE #LUA11-053
This letter will serve as authorization to release the Limited Power of Attorney from CBIC Insurance and
Maintenance Bond #LB8SOO issued to J.G.Real Estate Group NW LLC on December 31,2001 in the amount
of $67,100.00.These items were posted to the City of Renton on behalf of the Larsons Park project.
Enclosed are the original documents for your reference.
II you have any questions,please contact the project manager,Brianne Bannwarth at (425)430-7299.
Sincerely,
Jennifer Henning
Planning Director
Enclosure(s):ceic Insurance Umited Power of Attorney
Maintenance Bond LB8SOO
cc:Brianne Bannwarth,oevelopment Engineering Manager
1055 South Grady Way,Renton,WA 98057•rentonwa.gov
King County C CMaintenanceandDefectAgreementFinancialGuaranteeActivityNumber(s);(Two Years)A01BN817ForPublicRoadsandDrainageFacilitiesTotalGuaranteeAmount:Project Name /Number:$67,100 L99P0003 —Larsons ParkThisAGREEMENTismadeandenteredintothis‘r/’day of ___________,20&,/by and between the King County Department ofTransportation,Road Services Division and Department of Natural Resources,Water and Land Resources Division,hereinafter,collectively the“COUNTY”,and the above named applicant,hereinafter the”APPLICANT.”
Basis for AGREEMENT:
WHEREAS the undersigned APPLICANT has constructed public roads and/or drainage facilities,including but not limited to roads,sidewalks and
storm sewers (“improvements”)within public rights of way,easements and tracts,in connection with the above-referenced project;
WHEREAS the APPLICANT has agreed to secure the successful maintenance and operation of the improvements pursuant to King County
Ordinance 12020 and King County Code Titles 14,ISA,and 27A as applicable;and
WHEREAS at the end of a two year period,as more fully described below,the COUNTY will evaluate whether to take over operation and
maintenance of the improvements;
NOW THEREFORE,the COUNTY and the APPLICANT,its legal representatives,successors and assigns hereby agree as follows:
Terms of the AGREEMENT:
1.The improvements constructed by the APPLICANT,or its representative,shall successfully operate and shall remain free of defects in design,
workmanship and materials,for the period commencing on the date of final construction approval by the COUNTY and ending two years from
that date,or the date of final plat approval,whichever is later (hereinafter two year period”).
2.The APPLICANT is responsible for all maintenance of the improvements,during the two year period.
3.In the event of any failure of the improvements to satisfactorily operate or in the event of a defect in design,workmanship or materials,the
APPLICANT shall promptly and satisfactorily repair and/or correct the failure or defect and any accompanying or resulting damage.
4.The COUNTY will perform periodic maintenance inspections during the two year period.
5.Upon notification by the COUNTY during the two year period,the APPLICANT shall perform necessary maintenance and/or correct and/or
repair any defects in the improvements,and any accompanying or resulting damage,within the time frame specified by the COUNTY.
6.In the event the COUNTY determines,at its sole discretion,that repairs must be performed immediately to prevent damage or risk to person(s)
and/or property,the COUNTY may make necessary repairs and perform corrective action.The costs of these repairs/corrections shall be paid
by the APPLICANT,upon demand by the COUNTY.
7.The APPLICANT shall pay all required fees in accordance with King County Code.
8.If,at the end of the two year period,the COUNTY,at its sole discretion,determines that the improvements are not or have not been
adequately maintained,they do not operate satisfactorily,or the improvements contain defects in design,materials or workmanship,the
COUNTY will notify the APPLICANT in writing.The APPLICANT shall promptly perform maintenance,correction or repair,to the COUNTY’s
satisfaction.If such does not occur to the satisfaction of the COUNTY,the COUNTY may declare a default and use the remedies for a default
provided for in paragraph 10 below.Nothing contained herein shall be construed to require the COUNTY’to take over the operation or
maintenance of improvements that are not in a condition satisfactory to the COUNTY.In its sole discretion,the COUNTY may extend the
duration of the two year period for purposes of allowing the APPLICANT additional time to perform or complete maintenance,correction or
repair.
9.My failure by the APPLICANT to comply with the terms of this AGREEMENT in a timely manner shall constitute a default.In the event of a
default,the COUNTY shall notify the applicant and,ii applicable,the guarantor,of the fact of default and the need to perform corrective action.
If the COUNTY does not receive satisfactory assurance that corrective action will be taken in a timely manner,the COUNTY may
a.order the applicant to perform all necessary corrective work;
b.utilize the processes provided for in King County Code Title 23.24;and/or
c.demand payment on the financial guarantee.
Nothing contained in this numbered paragraph shall be construed to limit the remedies available to the COUNTY in law and in equity in
enforcing or otherwise compelling compliance with the terms of this Agreement.Further,My action or inaction by the COUNTY following any
default under any term or condition of this AGREEMENT shall not be deemed to waive any rights of the COUNTY pursuant to this AGREEMENT.
All costs,induding reasonable attorney’s fees for the enforcement of the terms of this AGREEMENT,shall be borne by the APPLICANT.In the
event that the guarantee amount is demanded and the total costs associated with curing the default exceed the guarantee amount,the
APPLICANT shall remain responsible to the COUNTY for payment of any remaining amount.In the event of a default,the COUNTY may
contract with a third party to cure the default.
10.The APPLICANT shall indemnify,hold harmless and defend,all at APPLICANT’s sole expense,the COUNTY,its agents,employees and/or
officers against daims,damages,suits at law or equity,actions,penalties,losses,or costs of whatsoever kind or nature,brought against the
COUNTY arising out of,in connection with,or incident to the execution of this AGREEMENT,the COUNTY’s obligations under this AGREEMENT,
and/or the APPLICANTs performance or failure to perform any obligation under this AGREEMENT.Provided,however,that nothing herein
shall reauire the APPLICANT to indemnify,hold harmless or defend the COUNTY from any claim arising out of the sole negligence of the
Two Y2ar Ncntenance/Defect AgreemertPage2 ActiviW Number(s):Conditions of Release:This AGREEMENT shall remain in full force and effect and shall not be released until all terms of this AGREEMENT havebeencompletedtothesatisfactionoftheKingCountyRoadEngineerorhis/her designee.IN WITNESS ThEREOF,the parties hereto have executed this AGREEMENT as of the day and year first above written.
evidence that 3 O C S
to be his/her free and voluntary act for the ts and purposes mentioned in this instrument.
Dated:Ir[?’/D
Signature of Notary PubliQi rCA L__
The:
My Appointment Expires:Lx iL&1Cf
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On Behalf of the COUNTY
L t2/j)oi
Signature Title Date
State of Washington,County of King
I certify that I know or h
signed this instrument
$4(Notary Seal or
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SURETY BONDKingCountyDepartmentofDevelopmcncandEnvironmentalServkes900OakesdaleAvenueSWRenton,WA 98055-1219FinancialGuarantee Activity No.AO1BN817 Bond No.88OONameofProjectLarsonsParkeLocationlAddressofProjectParcel0813000040BondProjectNo.L99P0003 Amount $67,100WeJ.G.Real Estate Grnnp N w.•Tin.,as Principal and ztcrs &rthi ad Tncn-nrrp Cnrçsny
a corporation organized and existing under and by virtue of the laws of the State of w h1 not nn and
legally doing business in the State of Washington,as Surety,are held and firmly bound unto King County,State of
Washington,as Obligee,in the penal sum of Sixty-seven Thousand,One Nnndrcd and 01100 dollars for the
payment of which we firmly bind ourselves,and our legal representatives,successors and assigns,jointly and severally.
THE CONDITION OF OBLIGATION is that:
1.The Principal has executed an “Agreement”entitled “Maintenance and Defect AQreement (Two Years)for Public
Roads and Drainage Facilities”,a copy of which is attached hereto and incorporated herein by this reference.
2.Under the provisions of the Agreement,the Principal is required to furnish a guarantee to secure the Principal’s
compliance with the terms of the Agreement.
3.This Surety Bond is intended to secure the Principals’performance of work and payment of fees in accordance with
the associated Agreement.
IT IS FURTHER EXPRESSLY PROVIDED that:
I.Until written release of this obligation by King County,this bond may not be terminated or cancelled by the Principal
or Surety for any reason.
2.The obligation of the Surety shall not be discharged or affected by any extension of time for the Principal’s
performance of this Agreement or by any amendment of the engineering plans used for construction of the project.
The Surety hereby waives notice of any such extension or amendment.The obligation of the Surety shall,in no
event,exceed the penal sum hereof unless the Surety has expressly consented to any change,modification or
extension of the Agreement and has issued its written adjustment of the penal sum,signed by the Principal and
Surety.
3.Upon failure of the Principal to perform any of the terms of the Agreement,The Surety shall either perform the terms
of the Agreement or shall tender to the County the amount which the County estimates necessary to effect
compliance with the terms of the Agreement.The County estimate may not be challenged or otherwise disputed by
the Principal or Surety.Any ffinds provided by the Surety in excess of that expended to remedy noncompliance with
the Agreement will be returned to the Surety upon completion of the remedial work and payment of outstanding fees.
4.In the event that this project becomes part of an incorporated area,King County may transfer its rights and
obligations under this Surety Bond and the associated Agreement to any successor jurisdiction without notice to the
Surety or Principal.The rights and obligations under this Surety Bond are for the exclusive benefit of King County.
Except as othenvise expressly provided herein,the rights and obligations of King County under this Surety Bond
may not be assigned,hypothecated or transferred for any purpose.
I -A WflY Tn A T’T’lc’flrnTNTfltn sr C .-,....n.,.4hfl4k,,ta nntfi,Tflnn Pn.infv of any ehnni,p in address.
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Home Office-3 Q 1213 Valley StreetLimitedPowerofAttorney•9810O271ThJScJRAt.ktE (206)628-7200KNOWAllMENBYTHESEPRESENTSthaiCOFITRACTORS5OIIDaIGANDIFISURANCECOF&’AFIY,a aiçrruaai dufy cagalized and eaiMiflg under the Lass ci the State of Weat-aiglan.andhawsgdspwcpalcf&ath Seatlin.X.xg Cory.Wastingan dons by these pasents mie.winsblute and apcx,ml LARK IIOF$4 of 5eafl.Wasiwigtan,its hue and ii At ey-in.Ft.seib (atpev.er and aflnity hereby casifenod in Is name.phee a4 stead,to execute,a*twtdge and delver an behaf of the Company any arid xl bands and undedalcr.gs of stxetystip geen Fri anypsejose.provsded,boivever,that an A neyii-Fat thai be aiunied to execute and delver arty bond ri ,idefltl that thai obiga!e the C’mpany Fri any jtrtion ci the penal aim theaanf iiexcessof56,000.000,and presided.hjnhe.that an Attaniey4n-Fect thai have the authaity 0 issue a bid ri pitpesal bond fri any prqecl whole,f a wintrect is awarded,any bond or underlaliingwotobereqiredsethapenalaimiie’ss ci 56.000.000;and to d the Corrpany thereby as fu and to the same extant as If si.th tn-ala were agned by the President.seabd with the mwcmleasaloftheComoaiyandduattestedbyitsSematayherebyraxf,ing and iWmag ol that the sad Alxney.vFecl may do a the pent-sex Swid apitment is made wider and by eithonF ofthefohxwgresobbonsadoptedbythe&a-d of Drect&s of the CONTRACTORS BOFUING AU)IIISUR4NCE CDMPAFW an September 6.993’RESOLVE that the flesdan of the Cotrpa’ty is aihnized to pemt arry person as the Carnpaiji hue and he’.lul Allorney-viFri nIh pewa w4 aristnirity to exee anddelveranbotsafcitheCorrçanyanyandatbeadsandtadenalcaigsofaimt*p gama foe any pisse.wteot to sab baits as thai be detoernised by the Preudent of theCompanypru-eded,howeter,that an sash pert deal be autlenred to eiile and delver any bend ri undertaking that deal oblgate the Company toe any pedion of he penalsumthereofinex$s of $10000000,and pimided,hither,that no Aftorneyii.Fatt thai have the authority to issue a bid ri piopesal bond foe any pteect where,it a sontri isawarded,any (raid cc undedaldng voud be required with penal sum in excess of 510.000.000RESOLVEDFURTHERthattheaithontyoftheSecretaryoftheCompanytotwistytheauthenty and effectoeness ci the iriepng resebbon in any United Povorof Attorney isherebydethyatedtotheictaingpaasns.the agnature of any of the fotwsig to bad the Company with respect to the authanffy and effeotheness oi the foregdng resohfions asifagnedbytheSecretaryoftheCompanfConedSiddn.Steven A.Gines,io Pepravy.John 0.Mob,Lany A.B)ers,Bear,Schick,D’sis Reborn,April Rohea and Eat Süldn.RESOLVED FURTHER that the agnatums (mcbding certfmatioi that the rove of Attorney is sti in Forte and effect)of the President,Notey Pubic and per cedifWigauthenticityandeffectaeness.and the corporate and Notary seab appeasiig an my United Pove ot Attorney contaning des and the foregofag maibbons as eel as the LimitedPowerofAttorneyfastanditsfransmiss,,may be by iecsimiin;and such baited Pove of Attorney thai be deemed an original in aI aspecis.
RESOLVED FURTHER that xi resobboess adopted ptw to today apØnttng the &lve named as Aftorney-in-Fect for COt[TRACTORS BONDING AND INSURANCE COMPANY
are hereby superseded.
ill WITNESS WHEREOF,CONTRACTORS BONDING AND INSURANCE COMPANY has caused these presents to be signed by its President and its rate seal to be hereto affixed this 13th
day of August,2001.•xiciii.,.,,
CONTRACTORS BONDtIJG AND INSURANCE COMPANY Sc,/,?v?OR4>t\
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____________________
i&SEALjJ
Steven &Genes.Pmaderd “5,a,7.’’•‘
“s’4sHiNrJ10tfSTATEOFWASH5IGTON—COUFIfl’OF Kll.G
On des 13th day of August.2001.personalf 4xpealed STEVEN A.CAStlES,to me lu-.awn to be Use President of Be ccqo’abcii that eaecuted the foregoing United Power of Attorney end
acriowbdged sad LdTv:ed Power of Attorney to be the free and vehntry ant and deed of sad corfltn,foe the uses and pirpeses there.i rreitmed,and on oath stated that he is adhorized toexecutethesadLimitedPowerofAttorney
r4
IfI WITNESS WHEREOF,I have hereunto set my hand and affixed my official seal the day and year first above enhen,:o)’..’,3oPt’-ar.”$CtO.%I,
F jJtwO1ARv
Notary Pubic in and for the Site of b’Ths,çgton.residing at Seahb
The underegned,acting under autlx’ffy.ajthe Board of Ditectris of COFITRACTORS BONDING AND INSURAfICE COMPANY,hereby certifies,as cc in 1w oi Cth&ate ci the Secretary of
CONTRACTORS BONDING AND INSURANCE COMPANY,that the above and foregoing is a fuj tree arid cooed copy of the Original Pove of Attorney issued by sad Company,and dons hereby
further certify that the sald Power of Attorneyis stri in forte and effect.
GlVENundermyhandat Seattle,WA this 28th dayof December 20 01
(tfrX /.
PoaMIJOI 03-USfS 1 31