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HomeMy WebLinkAbout(#09) AT & T Retail StoreLighthouse Property Development LLC 12550 Reed Rd, Suite 100 Sugar Land TX 77478 (713)256-9143 sRavlor@IiRhthousei)roDs.com Date: 5.23.19 Re: Sebastian AT&T Project—Developer Agreement and Bond Dear Michelle and Dorri. Please find enclosed the executed Developer Agreement with check and the Performance Bond for our AT&T retail store project. Please feel free to call our office if you have any questions. Very truly yours, Lighthouse Property Development, LLC ��'�����/`'""" !/ Gam✓`_ Michael Vacker Project Manager Bond No. 5270163 PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS, that we, Lighthouse Property Development, LLC, with its principal place of business at 12550 Reed Road, Suite 100, Sugar Land, TX 77478, as Principal, and SureTec Insurance Company, with its corporate office located at 2103 CityWest Boulevard, Suite 1300 Houston, TX 77042, and licensed to do business in the State of Florida, as Surety, are held and firmly bound unto the City of Sebastian, Florida, with an (Obligee), in the penal sum of Twenty Five Thousand and no/100 Dollars ($25,000.00), lawful money of the United States of America, for the payment of which sum, well and truly to be made, the Principal and Surety do bind themselves, their heirs, executors, administrators, and successors and assigns, jointly and severally, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH, that whereas the above bounden Principal has entered into a certain written Development Agreement with the above named Obligee, dated April25, 2019 . NOW. THEREFORE, if Principal, its executors, administrators, successors and assigns shall promptly and faithfully perform the Future Owner/Developer's obligation under Section 2 of the Development Agreement, according to the terns, stipulations or conditions thereof, then this obligation shall become null and void, otherwise to remain in full force and effect. In the event that the Principal has failed to promptly and faithfully demolish all existing improvements on the property no later than six (6) months following the date of the release of liens that have been recorded, the Surety shall, at its option, either perform the portion of the Agreement under Section 2 in accordance with its terms and conditions or pay to the Obligee the amount of the bond penalty, or such amount that is necessary to cure such failure to perform. This bond is executed by the Surety and accepted by the Obligee subject to the following express conditions: I) Notwithstanding the provisions of the Contract, the tens of this bond shall apply from April 25th. 2019 . until December 1, 2019 and may be extended by the Surety by Continuation Certificate. However, neither non -renewal by the Surety, nor the failure or inability of the Principal to file a replacement bond in the event of nonrenewal, shall itself constitute a loss to the obligee recoverable under this bond or any renewal or continuation thereof, The liability of the Surety under this bond and all continuation certificates issued in connection therewith shall not be cumulative and shall in no event exceed the amount as set forth in this bond or in any additions, riders, or endorsements properly issued by the Surety as supplements thereto. 2) No suit or action may be commenced hereunder by the Obligee after the earlier of one year from the expiration date of the Contract or one year from the effective date of non -renewal of this bond by the Surety. At such date, this bond shall become null and void, and the Surety shall have no liability hereunder. Sealed with our seals and dated the 21st day of May, 2019. LIGHT OUSE PRORT DEVELOPMENT, LLC (Witness) r/t�5f0 (Title) SU91271 AAi]„ICE CQMPANY Debra hW.m , Attomey-in-Fact PDA#: 5270163 SureTec Insurance Company LIMITED POWER OF ATTORNEY Know All Men by These Presents, That SURETEC INSURANCE COMPANY (the "Company"), a corporation duly organized and existing under the laws of the State of Texas, and having its principal office in Houston, Harris County, Texas, does by these presents make, constitute and appoint Debra McQuain its true and lawful Attorney-in-fact, with full power and authority hereby conferred in its time, place and stead, to execute, acknowledge and deliver any and all bonds, rmognizances, undertakings or other instruments or contracts of suretyship to include waivers to the conditions of contracts and consents of $wary for: Principal: Lighthouse Property Development, LLC Obliges: City of Sebastian, Florida Amount: S 25,000.00 and to bind the Company thereby as fully and to the same extent as if such bond were signed by the President, sealed with the corporate seal of the Company and duly attested by its Secretary, hereby ratifying and confirming all that the said Attomey-in-Fact may do in the premises. Said appointment is made under and by authority of the following resolutions of the Board of Directors of the SureTec Insurance Company: Be it Resolved that the President. my Vice -President, any Assistant Vice -President, any Secretary or any Assistant Secretary shall be and is hereby vested with fall power and authority to appoint my one or more suitable persaas as Auomey(s)-in-pact to represent and set for and on behalf of the Company subject to the following provisions: Alforneylo-Fact may be given full power and authority for and in the name of and of behalf of the Company, to execute, acknowledge and deliver, my and all bonds, recognissimes, contract$, agreemem; or indemnity and other conditional or obligatory undermkings and any and all notices and documents canceling or terminating the Company's liability thereunder, and my such Instruments so executed by my such Attomey-m-Fact shall be binding upon the Company as if signed by the President and sealed and effected by the Corporin: Secretary. Be it Resolved that the signature of my authorized officer and seal of the Company heretofore or hereafter affixed m my power of attorney or any certificate relating thereto by facsimile, and my power of attorney or certifem, bearing facsimile signature or facsimile seal shall be valid and binding upon the Company with respect to my bond or undertaking to which it is attached. (Adopted at a meeting held an 20''s oJApril, 1999.) In Witness Whereof,, SURETEC INSURANCE COMPANY has caused these presents to be signed by its President, and its corporate seal to be hereto affixed this 6th day of April, A.D. 2017. SURETEC C CO ?gJMNCf n W4(((/ It q o� By: �{ W �'p John "no ., Presid t CountState of as: County of Harris On this 6thday of April, AD. 2017 before me personally alone John Knox, Jr., to me known, who, being by me ly sworn, did depose and say, that he resides in Houston, Texas, that he is President of SURETEC INSURANCE COMPANY, the company dose ed in and which executed the above instrument; that he knows the seal of said Company, that the mal affixed le said instrument is such corporate seal; that it was so affixed by order of the Board of Directors of said Company; and that he signed his time thereto by like order. - JACOU" I GEAFBEENL)1 i° kc Notary Public, State of Taxesl� ,'�r:5 Comm. Expires OSt&10111 --�n� o`O Notary ID 126903029 11 Awr- J. uelyu Greenleaf, Notary My commission expires May 18, 2021 1, M. Brent Beery, Assistant Secretary of SURETEC INSURANCE COMPANY, do hereby eerily, that the above and foregoing is a we and correct copy of a Power of Attomey, executed by said Company, which is still in NII force and effect: and furthermore, the resolutions of the Board of Directors, set out in the Power ofAtmmey are in full to= and effem. Given under my hand and the seal of said Company at Houston, Texas this 21st day— May 2019 A,p M. Brent ZZ ' eery, Assistant Secretary Any Instrument Issued In excess of the penally stated above Is totally void and without any validity. For verification of the authority of this power you may call (713) 812-0800 any business day between 8:00 am and 5:00 pm CST. SureTec Insurance Company 2103 City West Boulevard, Suite 1300 Houston, TX 77042 040P►1N7Owl 19121al Bond No. 5270163 Principal: Lighthouse Property Development, LLC Bond Description: Non -Construction Performance Obligee: City of Sebastian, Florida In consideration of the premium charge, it is understood and agreed that effective Mav 30, 2019 the bond shall be changed to reflect: Extend expiration date to 05/21/2020 PROVIDED, HOWEVER, that the liability of the Surety under the attached bond as changed by this Rider shall not be cumulative. Nothing herein contained shall be held to vary, waive, alter or extend any of the terms, conditions, agreements or warranties of the above referenced bond, other than as stated above. Signed this 3oth day of May , 2019 . SurreeTTecc Insurance Commppa/n'y. Debra McQuaip!Attorney in Fact POA #.. SureTec Insurance Company LIMITED POWER OF ATTORNEY Know All Men by These Presents, That SURETEC INSURANCE COMPANY (the "Company"), a corporation duly organized and existing under the laws of the State of Texas, and having its principal office in Houston, Harris County, Texas, does by these presents make, constitute and appoint Debra McQuain its true and lawful Attomey-in-fact, with full power and authority hereby conferred in its name, place and stead, to execute, acknowledge and deliver any and all bonds, reeognizances, undertakings or other instruments or contracts of suretyship to include waivers to the conditions of contracts and consents of surety for: Principal: Lighthouse Property Development LLC Obligee: City of Sebastian, Florida Amount: $ 25,000.00 and to bind the Company thereby as fully and to the same extent as if such bond were signed by the President, sealed with the corporate seal of the Company and duly attested by its Secretary, hereby ratifying and confirming all that the said Attorney -in -Fact may do in the premises. Said appointment is made under and by authority of the following resolutions of the Board of Directors of the SureTec Insurance Company: Be it Resolved, that the President any Vice-Prrsiden4 any Assistant Vi.Presidcrn any Secretary or any Assistant Secretary shall be and is hereby vested with full power and authority to appoint any one or more suitable persons as Attomey(s)-in-Fact to represent and act for and on bchalfofthe Company subject the following provisions: Anornepin-Fact may be given full power and authority for and in the name of and of behalf of the Company, to execute, acknowledge and deliver, any and all bonds, recognizaaces, connects, agreements or indemnity and other conditional or obligatory undertakings and any and all notices and documents canceling or terminating the Company's liability thereundeq and any such instruments so executed by any such Attomey-in-Fact shall be binding upon the Company as if signed by the President and sealed and effccmd by the Corporate Secretary. Be it Resolved, that the signature of any authorized officer and seal of the Company heretofore or hereafter affixed to any power of mmmcy or any anificat. meeting thereto by facsimile, and any power of anomey or certificate bearing facsimile signature or facsimile seal shall be valid and binding upon the Company with respect to any bond or undertaking to which it is attached. (Adopted at a meeting held on 20e ojAiertl, 1999.) In Witness Whereof, SURETEC INSURANCE COMPANY has caused these presents to be signed by its President, and its corporate seal no be hereto affixed this 6th day of April, A.D. 2017. SURETECrly NY Su��rCff W ....�,,,,. AAAA9 [[��L By: 4O w a �^ John K Sm[e ofTexes ss: � t b County of Harris On this 6th day of April, A.D. 2017 before me personally came John Knox, Jr., m me known, who, beepose and say, Naz he resides in Houston, Taxes, Na[ he is President of SURETEC INSURANCE COMPANY, Ne comph executed the above instrument; that he knows the seal of said Company; that the seal affixed to said instrument is such corporate seal; that it was so affixed by order of the Board of Directors of said Company; and tlmt he signed his neme thereto by like order. ot.,, IACOUELYN GREENLEAF y, Notary Public, State of Taxes •a'�"a.'7 Comm. Expires Obi&2021 •''�n°;,��°� Notary ID 126003029 Jechuelyn Green el af, Notary Public My commission expires May 18, 2021 1, M. Brent Reety, Assistant Secretary o£SURETEC INSURANCE COMPANY, do hereby certify that the above and foregoing is a mm and correct copy of a Power of Anomey, executed by said Company, which is still in full force and effect and furthermore, the resolutions of the Board of Directors, set out in the Power ofAllomcy are in full force and effect Given under my hand and the seal of said Company at Houston, Texas this 30thday May 2019 A.D M. Brent nt Secretary Assay, Assist Any Instrument issued In excess of Na penalty stated above Is totally void and without any validity. For verification of 00 authority of this power you may call (713) 111 2.0800 any business day between 8:00 am and 5:00 pm CST.