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HomeMy WebLinkAboutLUA09-086-Surety Denis Law City`Of Mayor4" `tY Off. Department of Community and Economic Development December 14, 2009 Alex Pietsch,Administrator • -Insco-Dico Group 9750-Third Ave. N.E.Suite 305 Seattle;Wash.98115 SUBJECT: RELEASE OF MAINTENANCE BOND FOR WATERSHED TERRACE ON PERMIT#LUA09-086 The City of Renton, Development Services Division-hereby waives any interest.in account# 571214S in the amount of$2,300.00. If you have any questions, please contact me at(425).430-7235: Sincerely, Carrie K.Olson Development Services,Plan Review cc: Ken Blondin Novastar Development Inc. 18215 72 Ave.So. Kent,Wash"98032 KBS Development Corp. " 12320 N.E. 8th Street, Suite 100 , Bellevue,WA 98005 9804c.002.doc • Renton City Hall • 1055 South Grady Way • .Renton,Washington 98057. • rentonwa.gov " Carrie Olson From: Ken Blondin [kblondin@novastardev.com] Sent: Thursday, December 10, 2009 4:50 PM To: Carrie Olson Subject: RE:Additional Bond Questions Please address those latest two bond "WAIVES ANY INTEREST" letters to Insco-Dico Group 9750 Third Ave. N.E. Suite 305 Seattle, Wash. 98115 with a cc: to Novastar Development Inc. 18215 72nd Ave. So Kent, Wash. 98032 and another cc: to KBS. I hope that's not too much trouble. Thanks again, Ken Blondin From: Carrie Olson [mailto:COlson@Rentonwa.gov] Sent: Thursday, December 10, 2009 1:51 PM To: Ken Blondin Subject: RE: Additional Bond Questions Sure that would be good. Then I'll find out about having them released. Carrie K.Olson Engineering Specialist Community& Economic Development Dept. colson@rentonwa.gov 425-430-7235 Office 425-430-7300 FAX From: Ken Blondin [mailto:kblondin@novastardev.com] Sent:Thursday, December 10, 2009 1:29 PM To:Carrie Olson Subject: RE:Additional Bond Questions Carrie, In the law of bonding, bonds are not cancellable by the issuing party(Insco-Dico in these cases)simply because the municipality has no record of them.They are requiring a letter from the City that says the City WAIVES ANY INTEREST in these bonds and then they can take them off their books.Two bonds that we have discussed in the last few days fall into that category. 1.Maintenace Bond#5712145 for$2,300.00 for the Plat of Watershed Terrace. 2.Maintenance Bond#578631S for$12,375.60 for the Plat of Windstone Div. IV. I'm sorry to ask you to do this but a single letter or one for each plat is required in order to process the release on their end. If there was another alternative I would pursue it but there isn't. I could write the letters in Word format and email them to you to save some work on your end if that would help. Ken Blondin From: Carrie Olson [mailto:COlson@Rentonwa.gov] Sent:Wednesday, December 09, 2009 10:41 AM 1 To: Ken Blondin Subject: RE:Additional Bond Questions Ken, Please find attached the letter releasing a Watershed Terrace bond. I have no record of a maintenance bond #5712145 in the amount of$2,300 in my files. Carrie K.Olson Engineering Specialist Community& Economic Development Dept. colson@rentonwa.gov 425-430-7235 Office 425-430-7300 FAX r (I From: Ken Blondin [mailto:kblondin@novastardev.com] Sent:Tuesday, December 08, 2009 5:04 PM To: Carrie Olson Subject: RE:Additional Bond Questions Hi Carrie, Thanks for the release letters. Curious why they aren't on City letterhead?Also,the other bond#2 on my email for $12,375.60 for Windstone Div. IV is not mentioned in your email. Is that also released and if so could you forward that email to me as well. Have you found anything on that small Water Shed Terrace Bond that we first talked about? Thank you, Ken Blondin From: Carrie Olson [mailto:COlson@Rentonwa.gov] Sent:Tuesday, December 08, 2009 4:53 PM To: Ken Blondin Subject: RE:Additional Bond Questions Hello Mr. Blondin, As you can see we have released these bond some time ago and requested the applicant to inform their surety company. The release letter is all the information I have on these bonds. Carrie K.Olson Engineering Specialist Community& Economic Development Dept. colson@rentonwa.gov 425-430-7235 Office 425-430-7300 FAX From: Ken Blondin [mailto:kblondin@novastardev.com] Sent: Friday, December 04, 2009 3:20 PM To:Carrie Olson Cc:Tom Barghausen;Wayne Potter Subject:Additional Bond Questions 2 Hello Carrie, We spoke yesterday about a small maintenance bond for Water Shed Terrace and in going through the KBS bonds I noticed that there are three other bonds (copies attached)with the City that involve 3 additional projects that also have old Maintenance bonds still active with the bonding company.These bonds are as follows: 1. Bond#5787865$ 6,951.00 for the plat improvements of Wedgewood Lane Div. IV.The bond is for one year and was issued April 3, 2007. 2. Bond#5786315$12,375.60 for plat improvements for the plat of Windstone Div. IV.The bond is for 1 year and was issued March 7, 2007. 3. Bond#5758715$61,700.00 for the plat improvements for the plat of Stoneridge.The bond is for one year and was issued Sept. 20, 2005. Since we are investigating these bonds on behalf of our client KBS Partners, it would be helpful to know as much information as you can provide such as what steps the City will be taking to initiate releases such as inspections etc.or even the possibility that release letters have been sent. If punch lists were issued at bond expiration, please provide those to me so that we can follow up with our client on the status of those repairs.Thank you for your help and have a good weekend. Ken Blondin Ken Blondin Finance Director Novastar Development Inc. Barghausen Consulting Engineers, Inc. 18215 72nd Avenue South Kent, WA 98032 (425) 656-7401 Phone (425)251-8782-Fax http://www.barghausen.com 3 71 „ 3 O • 05--ouGIAIVU 1 5tpitlem,P Carrie Olson From: Kayren K. Kittrick Sent: Tuesday, November 03, 2009 7:49 AM To: 'Wayne Potter' Cc: Bob Ruddell; Kolin Taylor; Carrie Olson Subject: RE:Watershed Terrace-Storm Water Pond Good news, our maintenance group has done their final inspection of the facilities and have signed off. As soon as Carrie Olson returns to the office she will process the release of the bond. Kayren Kittrick Development Engineering Supervisor Community& Economic Development email: kkittrick@rentonwa.gov 425-430-7299 From: Wayne Potter [mailto:wpotter@novastardev.com] Sent: Tuesday, November 03, 2009 5:36 AM To: Kayren K. Kittrick Cc: Bob Ruddell; Kolin Taylor Subject: RE: Watershed Terrace - Storm Water Pond Hi Kayren, Any news from Jan regarding Watershed Terrace?Thanks. Wayne Sent from my HTC Touch Pro2 on the Now Network from Sprint®. From: Kayren K. Kittrick <Kkittrick@Rentonwa.gov> Sent: Thursday, October 29, 2009 12:53 PM To: Wayne Potter <wpotter@novastardev.com> Subject: FW: Watershed Terrace - Storm Water Pond First step, bond found. Jan Illian is expected back in the office tomorrow and may hold the rest of the information. Kayren Kittrick Development Engineering Supervisor Community& Economic Development email: kkittrick@rentonwa.gov 425-430-7299 1 From:Carrie Olson Sent:Thursday, October 29, 2009 1:46 PM To: Kayren K. Kittrick Cc:Jan Illian Subject: RE:Watershed Terrace-Storm Water Pond Kayren, I have placed this note in the Watershed Terrace LUA09-086 file. I think Jan was handling this project and I have the bond. Carrie October 29, 2009 City of Renton—LUA-09-086 Watershed Terrace- Maintenance Bond-$69,718 Notice to File 2-Year Maintenance & Defect Agreement for Public Roads& Drainage Facilities, $69,718;Two years expires on March 2009. At end of 2-Yrs County/City will final inspect and determine whether to take over operations& maintenance of the improvements and release this bond. See Carrie Olson to release original bond. Carrie K.Olson Engineering Specialist Community& Economic Development Dept. colson@rentonwa.gov 425-430-7235 Office 425-430-7300 FAX From: Kayren K. Kittrick Sent:Thursday, October 29, 2009 12:34 PM To: 'Wayne Potter' Cc: Carrie Olson;Jan Illian Subject: RE:Watershed Terrace-Storm Water Pond Hi Wayne, King County can only close out their portion (any right-of-way that is still KC for example) All remaining inspections/sign- offs are the city's responsibility. There have been some offices within KC that hold on to the entire file if there is even the smallest portion that is still KC responsibility. We will investigate and see about getting this cleared. Sincerely, Kayren Kittrick Development Engineering Supervisor Community& Economic Development email: kkittrick@rentonwa.gov 425-430-7299 2 • From:Wayne Potter[mailto:wpotter@novastardev.com] Sent:Thursday, October 29, 2009 12:23 PM To: Kayren K. Kittrick Cc: Ronald Straka; Bob Ruddell; Kolin Taylor; Randy Weber Subject: RE:Watershed Terrace-Storm Water Pond Hi Kayren, Thanks for getting back to me on this issue. I talked with Dave Hancock, Senior Engineer with KC Water and Land Resources(206-296-8230). I have yet to talk with Delite Morris,Senior Engineer for KC Road Services(206-296-3783). It's my understanding that next month our final inspection with KC Roads will be due and that this is our last inspection by surface water. My preference would be to finalize this project with the City of Renton so that we can get our maintenance bond released and the project finalized. Dave told me that if Renton wants to finalize the project, all he needs is confirmation and they will turn everything over. I have also attached a copy of the letter sent to KBS Development which is a joint letter from roads and surface water and a copy of the storm pond design for this project. Please call if you have any questions. Thank you. Respectfully, (A,,e2414"--4, G.Wayne Potter Vice President Novastar Development, Inc. 18215 72nd Ave. South Kent,WA 98032 • Office: (425) 251-6110 Direct: (425) 656-7435 Cell: (206) 255-7106 Fax: (425) 251-8782 From: Kayren K. Kittrick [mailto:Kkittrick@Rentonwa.gov] Sent:Thursday, October 29, 2009 10:13 AM To:Wayne Potter Cc: Ronald Straka Subject: RE:Watershed Terrace-Storm Water Pond Dear Mr. Potter, The answers are harder to come by when we apparently do not have the files. We would love to help you finalize, but if you could provide us the contact at King County you have been working with,we will contact them to get the files,the status of any bonds, and see if the project is sitting in a box or on someone's desk. I apologize for the delay in answering, but I have been out of the office for a few days. Kayren Kittrick Development Engineering Supervisor 3 Community& Economic Development email: kkittrick@rentonwa.gov 425-430-7299 From:Wayne Potter [mailto:wpotter@novastardev.com] Sent:Wednesday, October 28, 2009 12:24 PM To: Ronald Straka Cc: Kolin Taylor; Bob Ruddell; Kayren K. Kittrick Subject: Watershed Terrace-Storm Water Pond Dear Ron, I just recently talked with Mr. Dave Hancock,Senior Engineer with the King County Water and Land Resources Division regarding the storm pond of Watershed Terrace (see attached final inspection letter) . You and I have been trading phone calls with each other so I elected to send you an e-mail to see if we can coordinate on the final approval of this project. I have been trying to resolve/finalize the acceptance of this storm pond for some time. Based on my conversations with Dave, it is his understanding per conversations with the City that they would do a joint inspection of any projects that obtained approval in King County and then subsequently was annexed into the City of Renton. This project has been completed for several years and we are trying to release the maintenance bond. I need to set up a meeting at the project site with King County and the City of Renton so that we can finalize this project. Can you please let me k now what works the best for you. I would like to meet as soon as possible. If you need a set of plans for this project, please let me know. Thank you. Respectfully, G. Wayne Potter Vice President Novastar Development, Inc. 18215 72nd Ave.South Kent,WA 98032 Office: (425) 251-6110 Direct: (425) 656-7435 Cell: (206) 255-7106 Fax: (425) 251-8782 4 Carrie Olson From: Carrie Olson Sent: Wednesday, December 09, 2009 10:41 AM To: 'Ken Blondin' Subject: RE:Additional Bond Questions Attachments: LUA09-086 Watershed Terrace Public Road & Drainage Facilities Maint Bond Release.doc Ken, Please find attached the letter releasing a Watershed Terrace bond. I have no record of a maintenance bond #571214S in the amount of$2,300 in my files. CA.rr1 e,K.OL4aly Engineering Specialist Community & Economic Development Dept. colson@ rentonwa.gov 425-430-7235 Office 425-430-7300 FAX From: Ken Blondin [mailto:kblondin@novastardev.com] Sent: Tuesday, December 08, 2009 5:04 PM To: Carrie Olson Subject: RE: Additional Bond Questions Hi Carrie, Thanks for the release letters. Curious why they aren't on City letterhead? Also, the other bond #2 on my email for $12,375.60 for Windstone Div. IV is not mentioned in your email. Is that also released and if so could you forward that email to me as well. Have you found anything on that small Water Shed Terrace Bond that we first talked about? Thank you, Ken Blondin From: Carrie Olson [mailto:COlson@Rentonwa.gov] Sent: Tuesday, December 08, 2009 4:53 PM To: Ken Blondin Subject: RE: Additional Bond Questions Hello Mr. Blondin, As you can see we have released these bond some time ago and requested the applicant to inform their surety company. The release letter is all the information I have on these bonds. Carrie K.Olson Engineering Specialist Community& Economic Development Dept. colson@rentonwa.gov 425-430-7235 Office 425-430-7300 FAX 1 •---•" from: Ken Blondin [mailto:kblondin@novastardev.com] Sent: Friday, December 04, 2009 3:20 PM To:Carrie Olson Cc:Tom Barghausen;Wayne Potter Subject:Additional Bond Questions Hello Carrie, We spoke yesterday about a small maintenance bond for Water Shed Terrace and in going through the KBS bonds I noticed that there are three other bonds(copies attached)with the City that involve 3 additional projects that also have old Maintenance bonds still active with the bonding company.These bonds are as follows: 1. Bond#5787865$ 6,951.00 for the plat improvements of Wedgewood Lane Div. IV.The bond is for one year and was issued April 3, 2007. 2. Bond#5786315$12,375.60 for plat improvements for the plat of Windstone Div. IV.The bond is for 1 year and was issued March 7, 2007. 3. Bond#5758715$61,700.00 for the plat improvements for the plat of Stoneridge.The bond is for one year and was issued Sept. 20, 2005. Since we are investigating these bonds on behalf of our client KBS Partners, it would be helpful to know as much information as you can provide such as what steps the City will be taking to initiate releases such as inspections etc.or even the possibility that release letters have been sent. If punch lists were issued at bond expiration, please provide those to me so that we can follow up with our client on the status of those repairs.Thank you for your help and have a good weekend. Ken Blondin Ken Blondin Finance Director Novastar Development Inc. Barghausen Consulting Engineers, Inc. 18215 72nd Avenue South Kent,WA 98032 (425) 656-7401 Phone (425) 251-8782- Fax http://www.barghausen.com 2 Carrie Olson From: Ken Blondin [kblondin@novastardev.com] Sent: Thursday, December 03, 2009 4:04 PM To: Carrie Olson Cc: Wayne Potter Subject: Storm Drainage Imp. Maint. Bond Attachments: watershed bond 20091203155924.pdf Carrie, Per our phone conversation, attached is the $2,300 Maintenance Bond that is still active for the plat of Watershed Terrace. Please verify what steps need to be taken to secure the release of this bond. Your assistance is appreciated. Ken Blondin Ken Blondin Finance Director Novastar Development Inc. Barghausen Consulting Engineers,Inc. 18215 72nd Avenue South Kent,WA 98032 (425) 656-7401 Phone (425)251-8782-Fax http://www.barghausen.com 1 Q sr 141140-e.....,4:1/t4,* r-ii,2_61141-0;croi>/tpeo-gs CITY OF RENTON PLANNING/BUILDING/PUBLIC WORKS DEPARTMENT MAINTENANCE BOND Bond Number 5 71214 S KNOW ALL MEN BY THESE PRESENTS;that we KBS Development Corporation as Principal and Indemnity Company of California a corporation organized and existing under the Laws of the State of California Surety are held and firmly bound unto THE CITY OF RENTON as Obligee, in the total sum of Two Thousand Three Hundred and 00/100ths--- , ($ 2,300.00--- ) dollars, for the payment of which,well and truly to be made,the executors,administrators,successors and assigns,jointly and severally,firmly by these presents: for: storm drainage improvements along City's Spring Brook Springs watershed for the plat of Water Shed Terrace located at SE 200th Street & 100th Avenue SE NOW, THEREFORE THE CONDITION OF THIS OBLIGATION IS SUCH, That if the Principal shall maintain and remedy said work free from defects in materials and workmanship for a period of one (1) year(s) following completion, then this obligation shall be void otherwise it shall remain in full force and effect. SIGNED,SEALED AND DATED this 1st day of August 20 03 , KBS Development Corporation BY: Applicant's Signature Indemnity Company of California BY: Signature of Bonding Agent Jake W. Murphree, Attorney-in-Fact 9725 - 3rd Avenue NE, Suite 602 Seattle, WA 98115 (206)525-8201 H:\PBPV\Division.s\DevelopServ\PlanRev\Closeout MaintBondForm • nis Dena oaw City of o Department of Community and Economic Development Alex Pietsch,Administrator November 9, 2009 Mr. Kolin Taylor KBS Development Corp. 12320 NE 8th St, Suite:100 Bellevue WA 98005 SUBJECT: MAINTENANCE BOND RELEASE FOR WATERSHED TERRACE-LUA09-086 The City of Renton, Community&Economic Development Depai tinent, as successor jurisdiction through the Benson Hill annexation, hereby releases maintenance bond number #570753SM in the amount of$69,718.00. Please notify your insurance company of the release. If you have any questions,please contact me at(425)430-7235. Sincerely, Carrie K. Olson Development Services,Plan Review Enclosure: Original Maintenance Bond cc: file I:\M-BondRel/Pennit LUA09-086.doc/colson Renton City Hall ,• 1055 South Grady Way • Renton,Washington 98057. • rentonwa.gov '•• King County Maintenance and Defect Agreement Financial Guarantee Activity Number(s); (Two Years) AO3BN411 LU 1,9•0 Cr -Ogg, r , -^/,3 For Public Roads and Drainage Facilities Total Guarantee Amount: Project Name/Number: $69,718 LO1P0004 —Watershed Terrace This AGREEMENT is made and entered into this /5 day of/1/,G/E ,200,by and between the King County Department of Transportation,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 14,19A,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 fmal 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. Any 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,if 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,Any 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,including reasonable attorriey'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 claims, 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 APPLICANT's performance or failure to perform any obligation under this AGREEMENT. Provided, however,that nothing herein shall require the APPLICANT to indemnify,hold harmless or defend the COUNTY from any claim arising out of the sole negligence of the COUNTY,its agents,employees and/or officers. 11. In the event that any party deems it necessary to institute legal action or proceedings to enforce any right or obligation under this AGREEMENT,the parties hereto agree that any such action or proceeding shall be brought in a court of competent jurisdiction situated in King County, Washington. This AGREEMENT creates no rights, power, or authority in any entity or person not a party to this AGREEMENT. A,1 A o 3 B Two Year Maintenance/Defect Agreement Activity Number(s): Page 2 Conditions of Release:This AGREEMENT shall remain in full force and effect and shall not be released until all terms of this AGREEMENT have been completed to the satisfaction of the King County Road Engineer or his/her designee. IN WITNESS THEREOF,the parties hereto have executed this AGREEMENT as of the day and year first above written. APPLICANT: - /s-o1) Si ature j Date PACSSD e - �6 S brva orm Exr cCP,eP. Title State of Washington,County of King // t7 p I certify that I know or have seen satisfactory evidence that `�t/ zo, signed this instrument and acknowledges it to be his/her free and voluntary act for the uses and purposes mentioned in this instrument. (ir`�`'� Dated: ���G� l�! oL902 �f/��/ g Ipyrflr�r%73% Signature of Notary Public: 6 ,4. Title: 7 I J �ij ��tir� ". �0 / V My Appointment Expires: a -3O ~d /, •- rtaawar`• 111 Op Wp lt• , • On Behalf of the COUNTY )dta raJd - - Signatu Title Date 2 year Maintenance and Defect Ageemencdoc Auglst 8,2000 • g, O1,".v3�•%-yk'•',z � ' 3"'u +i,}�"'Sr ^ i y .4 ,ffi G.'. 4 1 • ; -04 KiitALIN � � n .�SUR B0 1D�, �Ft King County • Ax g: ' 's'E ss e trvfM. Department of Development and Environmental Services 900 Oakesdale Avenue SW Renton,WA 98055-1219 Financial Guarantee Activity No. AO3BN411 Bond No. 570753SM Name of Project Watershed Terrace Location/Address of Project Parcel 0522059296 Bond Project No. LO1P0004 Amount $69,718 We KBS Development Corporation ,as Principal and Indemnity Company of California a corporation organized and existing under and by virtue of the laws of the State of California 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-nine Thousand,Seven Hundred Eighteen and 0/100 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 Agreement(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: • 1. 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 funds 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 otherwise expressly provided herein,the rights and obligations of King County under this Surety Bond may not be assigned,hypothecated or transferred for any purpose. It is the APPLICANT'S/PRINCIPAL'S responsibility to notify King County of any change in address, phone number,or change of ownership of property. It is the APPLICANT'S responsibility to arrange for replacement of any/all financial guarantees prior to the change of ownership. A 03 1314 4 Page 1 of 2 Page 2 of 2 PRINCIPAL: KBS Develo nt Corporation SURETY: Indemnity Company of California J-&;-02 3/16/2007 Sig ture Date Signa ure Jake W. Murphree Date f&,719 Attorney—in—Fact Title Title Mailing Address Mailing Address 12320 NE 8th Street, Suite 100 9750 - 3rd Avenue NE, Suite 305 Bellevue, WA 98005 Seattle, WA 98115 (206)261-2112 (206)525-8201 Phone Number Phone Number PLEASE ATTACH A POWER OF ATTORNEY FOR SURETY AND COMPLETE THE FOLLOWING FOR THE PRINCIPAL State of Washington,County of King // I certify that I know or have seen satisfactory evidence that `'I Z, V 6 P L 041 signed this instrument and acknowledges it to bt 1er free and voluntary act for the uses and purposes mentioned in this instrument. (Notary Seal or Stamp for Principal) Dated: 3 V�� -Oa) „somtwti,„+ Signature of Notary Public: . �o f /`�ii Title: !40)Ny 7.04. - My appointment expires: "� Financial Guarantee Activity Number: SURETY.doc(10/99) • • POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO BOX 19725,IRVINE,CA 92623 (949)263-3300 KNOW ALL MEN BY THESE PRESENTS, that except as expressly limited, DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,do each,hereby make,constitute and appoint: ***Jake W. Murphree, Karen L. Staffanson, Dan Bouc, April Conover, Elliot W. Wolffe, jointly or severally*** as their true and lawful Attorney(s)-in-Fact.to make,execute.deliver and acknowledge,for and on behalf of said corporations,as sureties.bonds,undcrnrkings and contracts of suretyship giving and granting unto said Attorney(s)-in-Fact full power and authority to do and to perform every act necessary.requisite or proper to be done in connection therewith as each of said corporations could do.but reserving to each of said corporations full power of substitution and revocation,and all of the acts of said Attorney(s)-in-Fact,pursuant to these presents,are hereby ratified and confirmed. This Power of Attorney is granted and is signed by facsimile under and by authority of the following resolutions adopted by the respective Board of Directors of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,effective as of November I,2000: RESOLVED,that the Chairman of the Board,the President and any Vice President of the corporation he,and that each of them hereby is.authorized to execute Powers of Attorney,qualifying the attorney(s)named in the Powers of Attorney to execute,on behalf of the corporations,bonds,undertakings and contracts of suretyship;and that the Secretary or any Assistant Secretary of the corporations be,and each of them hereby is,authorized to attest the execution of any such Power of Attorney: RESOLVED,FURTHER,that the signatures of such officers may be affixed to any such Power of Attorney or to any certificate relating thereto by facsimile,and any such Power of Attorney or certificate bearing such facsimile signatures shall be valid and binding upon the corporation when so affixed and in the future with respect to any bond,undertaking or contract of suretyship to which it is attached. IN WITNESS WHEREOF,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA have severally caused these presents to be signed by their respective Executive Vice President and attested by their respective Secretary this 1st day of December. 2005. By: —... ��.AND jN,, epAN YDavid H.Rhodes,Executive Vice-President 'yJe.OFtPORgr�F?�.' pPORq)F dG ? 10 c ch? Lo 1967 By: 1936 ,D - �o� bq 0a� Walter A.Crowell,Secretary q�•• /pyr P •:�d \ <<FO ..*. STATE OF CALIFORNIA COUNTY OF ORANGE On December I,2005 before me,Gina L.Gamer, Notary Public(here insert name and title of the officer), personally appeared David H.Rhodes and Walter A.Crowell,personally known to me(or proved to me on the basis of satisfactory evidence)to be the person(s)whose name(s)isiarc subscribed to the within instrument and acknowledged to ore that he/she/they executed the same in his/her/their authorized capacity(ics),and that by his/her/their signature(s)on the instrument the person(s),or the entity upon behalf of which the person(s)acted,executed the instrument. WITNESS my hand and official seal. GINA L.GARNER �Z� ; _.' COMM.YPUBLIC LI 1569561 (SEAL) '!''�'�a'= NOTARY PUBLIC CALIFORNIA Signature 3 `i ORANGE COUNTY V IMy comet,expires May 13,2009 CERTI FICATE The undersigned,as Assistant Secretary,of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA, does hereby certify that the foregoing Power of Attorney remains in full force and has not been revoked,and furthermore,that the provisions of the resolutions of the respective Boards of Directors of said corporations set forth in the Power ofAttorney.are in force as of the date of this Certificate. This Certificate is executed in the City of Irvine,California.the !(-P1 - dtry of L`x-4--1 acyo`- By Al/t"4 Alpert Hillebrand, Assistant Secretary ID-I3S(1(Rev. 12115) • ACORD,. CERTIFICATE OF LIABILITY INSURANCE DATE ) PRODUCER (425) 827-8774 FAX: (425)827-5177 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION Totem Agencies, Inc ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER, THIS CERTIFICATE DOES NOT AMEND, EXTEND OR 10526 NE 68th ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. P O Box 3419 • Kirkland WA 98083-3419 INSURERS AFFORDING COVERAGE NAIC# - INSURED INSURER A:Colony Insurance Co K.B.S. Development, Corp. , DBA: K.B.S. III, INSURERS: 12320 NE 8th St. Ste 100 INSURERC: INSURER D: Bellevue WA 98005 INSURER E: COVERAGES THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED.NOTWITHSTANDING ANY REQUIREMENT,TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY SAID CLAIMS. INSR ADD'L POTYPE OF INSURANCE POLICY NUMBER ALTE(MM/DD/YYICY E POLICY MM/DO/YY EXPIRATION LIMITS LTR INSRD ( I ( ) GENERAL LIABILITY EACH OCCURRENCE $ 1,000,000 X COMMERCIAL GENERAL LIABILITY DAMAGE TO RENTED 100 000 PREMISES(Ea occurrence) $ r A CLAIMS MADE X OCCUR GL164115 1/31/2007 1/31/2008 MED EXP(Anyone person) $ excluded• PERSONAL S ADV INJURY $ 1,000,000, I(`J GENERAL AGGREGATE $ • 2,000;000 GEN'L AGGREGATE LIMIT APPLIES PER: D 5 Ill Jn / fl PRODUCTS-COMP/OP AGG $ excluded X POLICY —/ECT �LOC 1 /�(�f\�J AUTOMOBILE LIABILITY • .�. f1I -0 4 2007 COMBINED SINGLE LIMIT • ANY AUTO COUNTY'f (Ea acc/denl) S . ALL OWNED AUTOS KING COUN� BODILY INJURY SCHEDULED AUTOS FGMU (Per person) $ HIRED AUTOS BODILY INJURY $ NON-OWNED AUTOS • (Per accident) ` PROPERTY DAMAGE S. (Per accident) GARAGE LIABILITY AUTO ONLY-EA ACCIDENT $ ANY AUTO OTHER THAN EA ACC $ AUTO ONLY: AGG $ EXCESS/UMBRELLA LIABILITY EACH OCCURRFNCE $ OCCUR CLAIMS MADE AGGREGATE $ $ DEDUCTIBLE $ RETENTION $ $ WORKERS COMPENSATION AND TORY LIMITS OER EMPLOYERS'LIABILITY • ANY PROPRIETOR/PARTNER/EXECUTIVE E.L.EACH ACCIDENT $ OFFICER/MEMBER EXCLUDED? If yes,describe under E.L.DISEASE-EA EMPLOYEE$ SPECIAL PROVISIONS below - E.L.DISEASE-POLICY LIMIT $ OTHER DESCRIPTION OF OPERATIONS/LOCATIONS/VEHICLES/EXCLUSIONS ADDED BY ENDORSEMENT/SPECIAL PROVISIONS King County Department of Development and Enviromental Services and Land Use Services Division is added as an • additional insured to KBS Policy for the retention pond at the Watershed Terrace Project • CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE King County Department of Development EXPIRATION DATE THEREOF, THE ISSUING INSURER WILL ENDEAVOR TO MAIL and Enviromental Services and 10 DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT,BUT Land Use Service Division FAILURE TO DO SO SHALL IMPOSE NO OBLIGATION OR LIABILITY OF ANY KIND UPON THE 900 Oakesdale Avenue SW Renton, WA 98057 INSURER,ITS AGENTS OR REPRESENTATIVES. AUTHORIZED RESENTTAATIIVE 'r �j .' /11.�r1aG/°'Gr� ACORD 25(2001/08) ©ACORD CORPORATION 1988 INS025 pioa).08 AMS t•1'' Wolters Kluwer Flnsncial Services Page 1 of2 (jo i ramf MAR-23-2007 15:41 TOTEM AGENCIES 4258275177 P.03/03 3/23/200; 01:6 PP: FROM:, ;OM 4262841273 Alexander Morford _Woo TO: 4251. .177 PAGE: 003 OF 003 • • COMMERCIAL GENERAL LIABILITY CG 20 12 07 98 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. ADDITIONAL INSURED - STATE OR POLITICAL SUBDIVISIONS - PERMITS This endorsement modifies insurance provided under the following: COMMERCIAL GENERAL LIABILITY COVERAGE PART SCHEDULE State Or Political Subdivision: KING COUNTY DEPARTMENT OF DEVELOPMENT AND ENVIRONMENTAL SERVICES AND LAND USE SERVICES DIVISION 900 OAKESDALE AVENUE RENTON,WA 98057 (If no entry appears above,information required to complete this endorsement will be shown in the Dec- larations as applicable to this endorsement Section II—Who'Is An Insured is amended to 2. This insurance does not apply to: include as an insured any state or political sub- a "Bodily injury," "property damage"or . division shown in the Schedule, subject to the "personal and advertising injury"arising following provisions: out of operations performed for the state 1. This insurance applies only with respect to or municipality;or operations performed by you or on your be- b. "Bodily injury" or "property damage" half for which the state or political subdivi- included within the products-completed sion has issued a permit. operations hazard". • • CG 2012 07 98 Copyright,Insurance Services Office,Inc_, 1997 Page 1 of 1 ❑ TOTAL P,03