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1693* Thornbrooke Ph 1 Maint. Bonds3 kW Transmittal Memorandum r To: Finance Department Date: January 13, 2015 From: Russell Gibson Email: Michael.Cash&SanfordFL.,gov Dept.: Planning & Development Services Phone: 407.688.5148 Subject: Bond information for CAE system (To be forwarded to City Clerk's Office) Project Name: Thornbrooke Phase 1 Project Address: 133 N. White Cedar Road Bond Type: El Maint. /Agreement ❑ Letter Of Credit ❑ Cashier Check ❑ Performance ❑ Certified Check ❑ Cash Bond ❑ Cash Deposit ❑ Construction Loan Agreement Bond number: SU1 130614 Amount: $192,714.89 Bond Holder Name: Taylor Morrison of Florida, Inc & Wal -Rose Site Development TM = 151 Southhall Lane 200, Maitland, Florida 32751 Bond Holder Address: WR = 3848 Moores Station Road Sanford Florida 32773 Bond Holder Phone: (321) 397 -7251 Email: AMadison @taylormorrison.com Bond Obligation: Roadway, Sidewalks and Drainage Facilities Maintenance (Materials and Workmanship Warranty) Surety Name: Arch Insurance Company Surety Address: 1125 Sanctuary Parkway #200, Alpharetta, Georgia 30009 Surety Phone: Effective Date: January 12, 2015 (City's acceptance) Alarm date: October 12 2017 (90 days prior to expiration date) T:\Development Review \04 - Engineering \Bonds \Bond information.doc Email: Expiration date: January 12, 2018 (Three (3) years from acceptance) ROADWAY, SIDEWALKS AND DRAINAGE FACILITIES MAINTENANCE (MATERIALS AND WORKMANSHIP WARRANTY) BOND Bond No. SU1130614 DO NOT MAKE CHANGES TO THIS FORM. Bonding company must be listed in the Federal Register (Department of Treasury Circular 570). KNOW ALL MEN BY THESE PRESENTS, THAT Taylor Morrison of Florida, Inc. of Maitland , FL , referred to as the DEVELOPER and Wal -Rose Site Development of Sanford , FL , referred to as the CONTRACTOR and Arch Insurance Company of Alpharetta , GA ,hereinafter called the SURETY, are held and firmly bound unto the City of Sanford, a political subdivision of the State of Florida, hereafter called the CITY, whose address is 300 North Park Avenue, Sanford, Florida 32771, in the full and just sum of One Hundred Ninety Two Thousand Seven Hundred Fourteen and 89/100 (192,714.89) DOLLARS, lawful money of the United States of America, to the payment of which sum, well and truly to be made, the DEVELOPER, CONTRACTOR, AND SURETY bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. WHEREAS, the DEVELOPER caused the CONTRACTOR to install certain roadway, sidewalks and drainage facilities, and /or other related improvements in or around the CITY, known and identified as follows: ®in gyk'= AA I with the approval of the CITY under the provisions, conditions, nd requirements of the development plan approval granted the A�;A day of by the CITY. WHEREAS, the EVELOPER and CONTRACTOR are obligated to protect the City against any defects resulting from faulty materials or workmanship of said improvements and to maintain said improvements for a period of three (3) years from the Id day of , NOW, THEREF RE, THE CONDITION OF THIS OBLIGATION IS SUCH that if the DEVELOPER or CONTRACTOR shall promptly and faithfully protect the CITY against any defects, correct all defects in the aforesaid improvements, maintain the aforesaid improvements and fully indemnify the CITY for all loss the CITY may sustain by reason of any defect in materials, construction or failure on the part of the DEVELOPER or CONTRACTOR to fully maintain said improvements, including but not limited to the roadway, sidewalks and drainage facilities, for a period of three (3) years from the date of issuance of the Certificate of Completion by the CITY, which shall be the -- day of „ a4v , and the DEVELOPER pays any and all costs and expenses inci tal t the performance of any work required to be performed hereunder, then this obligation shall be void; otherwise to remain in full force and effect. THE CITY shall notify the DEVELOPER or CONTRACTOR in writing of any defects for which the DEVELOPER and CONTRACTOR are responsible and shall specify in said notice a reasonable period of time which DEVELOPER or CONTRACTOR shall have to correct said defects. Page 1 of 3 THE SURETY unconditionally covenants and agrees that if the DEVELOPER or CONTRACTOR fails to perform, within the time specified by the City, the SURETY, upon thirty (30) days written notice from the CITY, or its authorized agent or officer, of default, will forthwith correct such defect or defects and pay the cost thereof, including, but not limited to engineering, legal, and contingent costs. FURTHERMORE, should the SURETY fail or refuse to correct said defect or defects, the CITY in view of the public interest, health, safety, welfare, and other factors involved, and the consideration in approving said development plans, shall have the right to resort to any and all legal remedies against the DEVELOPER, CONTRACTOR, and SURETY, either individually or together, both at law and in equity, including specifically, specific performance to which the DEVELOPER, CONTRACTOR, and SURETY unconditionally agree. THE DEVELOPER, CONTRACTOR, AND SURETY further jointly and severally agree that the CITY at its option, shall have the right to correct said defect or defects resulting from faulty materials or workmanship, or pursuant to public advertisement and receipt of bids, cause to be corrected said defect or defects in case the DEVELOPER or CONTRACTOR shall fail or refuse to do so, and in the event the CITY should exercise and give effect to such right, the DEVELOPER, CONTRACTOR, and SURETY shall be jointly and severally responsible hereunder to reimburse the CITY the total cost thereof, including, but not limited to, engineering, legal, and contingent cost, together with any damages, either direct or indirect, which may be sustained on account of the failure of the DEVELOPER, CONTRACTOR, or SURETY to correct said defects. THE DEVELOPER, CONTRACTOR, AND SURETY hereby waive notice of any and all modifications, omissions, additions, changes and in or about CITY ordinances, the CITY`s technical specifications and design criteria for utility work and improvements and, further, agree that the obligations undertaken by this Bond shall not be impaired in any manner by reason of any modifications, omissions, additions, changes, and advance payments or deferred payments; PROVIDED, HOWEVER, that the obligation of the SURETY shall be limited to the penal sum herein as well as the costs set forth in the following sentences of this paragraph. The Parties further expressly agree that any action on this Bond shall be brought in Seminole County Circuit Court and governed by Florida law and may be brought within the time allowed for suits on contracts for payment of money. The City shall be entitled to all its costs and expenses, including attorneys' fees, incurred in the enforcement of SURETY's obligations under this Agreement. IN WITNESS WHEREOF, the DEVELOPER, CONTRACTOR, and SURETY have executed these presents this 23`d day of December, 2014. ADDRESS: 151 Southhall Lane, #200 Taylor Morrison of Florida, Inc. (SEAL) Maitland FL 32751 DEVEL BY- ITS:_', Page 2 of 3 ADDRESS: 3848 Moores Station Rd Sanford, FL 32773 ADDRESS: 1125 Sanctuary Pkwy., #200 Alpharetta, GA 30009 Attest C' �' �' " Cynthia Porter, City Clerk (IF A CORPORATION) ATTEST:- I ITS: Wall-Rose Site Development (SEAL) CONTRACTOR ATTEST: ITS: Arch Insurance Company (SEAL) SURETY BY: 'kao ITS: ATTORNOY-IN-FACT & FL Licensed Resident Agent Margaret A em ATTEST: WILLIS OF FLORIDA ITS: Eileen C. Heard, Witness 4211 W BOY SCOUT BLVD, #1000 TAMPA, FL 33607 INQUIRIES: (813)281-2095 For use and reliance of the Sanford City Commission only. Approved as to fevmmwid legality. I'M L. Colbert, City AttoCney City of Sanford, florida MWErTHAIN Page 3 of 3 AIC 0000133286 In Testimony Whereof, the Company has caused this instrument to be signed and its corporate seal to be affixed by their authorized officers, this 21s` day of October, 2014. Attested and Certified L&d 4w-.v --- Patrick K. Nails, Secretary STATE OF PENNSYLVANIA SS COUNTY OF PHILADELPHIA SS Arch Insurance Company — — in a stein, Executive Vice President N4soud I, Helen Szafran, a Notary Public, do hereby certify that Patrick K. Nails and David M. Finkelstein personally known to me to be the same persons whose names are respectively as Secretary and Executive Vice President of the Arch Insurance Company, a Corporation organized and existing under the laws of the State of Missouri, subscribed to the foregoing instrument, appeared before me this day in person and severally acknowledged that they being thereunto duly authorized signed, sealed with the corporate seal and delivered the said instrument as the free and voluntary act of said corporation and as their own free and voluntary acts for the uses and purposes therein set forth. ts�tr�aW�.�stt,, t € ,tntturtsvtvaiaik NOTARIAL SEAT. HELEN SZAFPAK Notary Public CAy ttt Phuadelpm Plea. Cuu Pd Ccrissian Octol3et 31 i elen Szafran, N&tary PUlicV My commission expires 10/03/2017 CERTIFICATION I, Patrick K. Nails, Secretary of the Arch Insurance Company, do hereby certify that the attached Power of Attorney dated October 21. 2014 on behalf of the person(s) as listed above is a true and correct copy and that the same has been in full force and effect since the date thereof and is in full force and effect on the date of this certificate; and I do further certify that the said David M. Finkelstein, who executed the Power of Attorney as Executive Vice President, was on the date of execution of the attached Power of Attorney the duly elected Executive Vice President of the Arch Insurance Company. IN TESTIMONY WHEREOF, I have hereunto subscribed my name and affixed the corporate seal of the Arch Insurance Company on this -a3/day of � 20J_. 4�Lv -- ---- W --------- Patrick K. Nails, Secretary T This Power of Attorney limits the acts of those named therein to the bonds and undertakings specifically named therein and they have no authority to bind the Company except in the manner and to the extent herein stated. PLEASE SEND ALL CLAIM INQUIRIES RELATING TO THIS BOND TO THE FOLLOWING ADDRESS: Arch Insurance — Surety Division 3 Parkway, Suite 1500 g Philadelphia, PA 19102 SEKt. OOML0013 00 03 03 Page 2 of 2 Printed in U.S.A.