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R93-93RESOLUTION NO. R93-~ A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOYNTON BEACH, FLORIDA, APPROVING THE ACCEPTANCE OF TWO' (2) PERFORmaNCE BONDS, NO. 123930364 AND 123930350, IN THE AMOUNT OF $104,770.00 AND $26,750°00 RESPECTIVELY, TO INSURE COMPLETION OF REQUIRED INFRASTRUCTURE IMPROVEMENTS WITHIN LOTS 7 AND 8, NEWPORT PLACE (A/K/A STANFORD PARK); AND PROVIDING AN EFFECTIVE DATE. WHEREAS, upon the recommendation of staff, the City Commission of the City of Boynton Beach~ Florida, hereby approves the a~ceptance of two Performance Bonds, No. 123930364 and ~3930350 in the amount~ of $104,770.00 and $26,750.00 respectively, issued by Continenta± Casualty, to insure completion of required infrastructure improvements within Lots 7 and 8, Newport Place (a/k/a Stanford Park). NOW, T~EREFORE, BE iT RESOLVED BY THE CITY COMMISSION OF THE CITY ~FBoYNToN BEACH, FLORIDA, THAT: Section 1. The City Commission of the City of Boynton Beach, Florida, hereby approves the acceptance of two Performance Bonds, No. 123930364 and 123930350 in the amounts of $104,770.00 and $.26,750.00 respectively, issued by Continental Casualty, to insure completion of required infrastructure improvements within Lots 7 and 8, Newport Place (a/k/a Stanford Park~. Section 2. This Resolution shall become immediately upon passage. effective PASSED AND ADOPTED this ~ day of July, 1993. ATTEST: CITY OF BOYNTON BE~CH, FLORIDA Comm *r Cit~ Clerk (Corporate Seal) Per. Bond(2) Newport. Pla 6/28/93 . PERFORMANCE BOND #123 930 350 , KNOW ALL MEN BY THESE PRESENTS: That Newport Place, Inc. (hereinafter called the "Principal ", and Continental Casualty Company , a surety company authorized to do business in the State of Florida (hereinafter called the "Surety "), are held and firmly bound unto the City of Boynton Beach, a municipal corporation of the State of Florida (hereinafter called the "City "), in the full and just sum of $ 26.750.00 lawful money of the United States of America, to be paid to the City, to which payment well and truly to be made we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents: WHEREAS, the above bounded Principal, as a condition precedent to the approval by the City of a plat of a certain subdivision known as Newport Place , has submitted engineering and other construction plans for the Required Improvements prescribed by the Subdivision and Platting Regulations of the City, pertaining to the said subdivision (hereafter referred to as the "Subdivision Improvements Plans "), copies of which plans are attached hereto and by reference made a part hereof; and WHEREAS, it was one of the conditions of the said Subdivision and Platting Regulations that this bond be executed covering 60 ft. of right of way improvement, Lots 7 & 8. NOW, THEREFORE, the conditions of this obligation are such that if the above bounded Principal shall in all respects perform the Subdivision Improvements Plans within the time specified in the Subdivision and Platting Regulations of the City, and shall indemnify and save harmless the City against or from all claims, costs, expenses, damages, injury or loss, including engineering, legal and contingent costs which the City may sustain on account of the failure of the Principal to perform the Subdivision Improvements Plans within the time specified in the said Subdivision and Platting Regulations, then this obligation shall be void; otherwise to be and remain in full force and effect. THE SURETY UNCONDITIONALLY COVENANTS AND AGREES THAT if the Principal fails to perform all or any part of the construction work as set forth in the Subdivision Improvements Plans, within the time specified, the Surety will forthwith perform and complete the said construction work and pay the cost thereof, including, but not limited to, engineering, legal and contingent costs, and will indemnify and save harmless the City as aforesaid. Should the Surety fail or refuse to perform and complete the said improvements, the City, in view of the public interest, health, safety and welfare factors involved and the inducement in approving and filing the said plat, shall have the right to resort to any and all legal remedies against the Principal and the Surety, or either, both at law and in equity, including specifically specific performance, to which the Principal and Surety unconditionally agree. THE PRINCIPAL AND THE SURETY FURTHER JOINTLY AND SEVERALLY AGREE THAT the City, at its opinion, shall have the right to construct or, pursuant to public advertisement and receipt of bids, cause to be constructed the aforesaid improvements in case the Principal should fail or refuse to do so in accordance with the Subdivision Improvements Plans and within the time specified, and in the event the City should exercise and give effect to such right, the Principal and the Surety shall be jointly and severally liable hereunder to reimburse the City and total cost thereof, including, but not limited to engineering, legal and contingent costs, together with any damages, either direct or consequential, which may be sustained on account of the failure of the Principal to carry out and perform the Subdivision Improvements Plans within the time specified. IN WITNESS WHEREOF, the Principal and the Surety have executed these presents this 1 day ofjune 1993. Newport Place, Inc. , Address: � 1150 8th Ave. S.W. l argo. F l 346140 Witn- f Continental casualty C. any B Y: d01 David T. Col y Attorney -in -Fact Countersigned: dir, • ,,01,4, , z • i /orda Resident ent Si natufe V � 9 ) 839 N. Magnolia Ave. Orlando, FL 32803 NOTE: NEWPORT PLACE, INC. IS THE RECORDED OWNER OF LOTS 7 AND 8 OF THE HIGH RIDGE SUBDIVISION PLAT. CNA F .r Ai!�h, t„mmit mi i�1iu tsaF POWER OF ATTORNEY APPOINTING INDIVIDUAL ATTORNEY -IN -T=ACT Know All Men by these Presents, That CONTINENTAL CASUALTf COMPANY a _ crporation au,y _rgan,zec and ex s° _ ' 4, laws of the State of Illinois, and having its principal office in the City r r r'h'cago and State of Illinois - foes hereby '' and appoint David T. Colby Individually - - - -- -- - - - - - - -- - - - -- of Indianapolis Indiana - -_— — -- — — _ Its true and lawful Attorney -in -fact with full power and authority hereby conferred to sign, seal and execute in its behalf bonds undertakings and other obligatory instruments of similar nature - In Unlimited Amounts - and to bind CONTINENTAL CASUALTY COMPANY thereby as fully and to the same extent as if such , nstrurnents were s gned by ■he duly authorized officers of CONTINENTAL CASUALTY COMPANY and all the acts of said Attorney n , -cuant it 'he a nigh,, given are hereby reified and confirmed This Power of Attorney is made and executed pursuant to and by authority of the following By i aw adopted r e Bnar Directors of the Company "Article IX— Execution of Documents Section 3. Appointment of Attorney -in -fact The President or a Vice President may, from time to time, appoint by writtencertificates attorneys -in -fact to act in behalf of the Company in the excecution of policies of insurance, bonds, undertakings and other obligatory instruments of like nature. Such attorneys -in -fact, subject to the limitations set forth in their respective certificates of authority, shall have full power to bind the Company by their signature and execution of any such instruments and to attach the seal of the Company thereto. The President or any Vice President or the Board of Directors may at any time revoke all power and authority previously gise- to any attorney -in -fact " This Power of Attorney is signed and sealed by facsimile under and by the authority of the following Resolution 3r'ncred Board of Directors of the Company at a meeting duly called and held on the 3rd day of April. 1957 "Resolved, that the signature of the President or Vice President and the seal of the Company may be affixed by facsimile on any power of attorney granted pursuant to Section 3 of Article IX of the By -Laws, and the signature of the Secretary or an Assistant Secretary and the seal of the Company may be affixed by facsimile to any certificate of any such power, and any power or certificate bearing such facsimile signatures and seal shall be valid and binding on the Company Any such power so executed and sealed and certified by certificate so executed and sealed shall, with respect to any bond or undertaking to which it is attached, continue to be valid and binding on the Company " In Witness Whereof, CONTINENTAL CASUL COMPANY has caused these be signed by , ts 8,e Pres, ^r =nd `3 corporate seal to be hereto affixed on this (( __ _ day of 1r ' _ 19 CONTINENTAL CASUALTY COMPANY State of Illinois 1 z�% co`r "/ c i County of Cook I ss EA j � ? � �•' J E. Purtell Vice President On this 27th day of February 87 , 19 . before me personally came J E Purtell, to me known, who, being by me duly sworn, did depose and say that he resides in the Village of Glenview, State of Illinois, that he is a Vice- President of CONTINENTAL CASUALTY COMPANY, the corporation described in and which executed the above instrument, that he knows the seal of said Corporation, that the seal affixed to the said instrument is such corporate seal; that it was so affixed pursuant to the said instrument is such corporate seal; that it was so affixed pursuant to authority given by the Board of Directors of said corporation and that he signed his name thereto pursuant to like authority, and acknowledges same to be the act and deed of said corporation. NOTARY c PUBLIC Co..° Leslie A Smith Notary Public CERTIFICATE My Commission Expires November 12. 19 D I, M C Vonnahme, Assistant Secretary of CONTINENTAL CASUALTY COMPANY, do hereby certify that the Power of Attorney herein above set forth is still in force and further certify that Section 3 of Article IX of the By -Laws of the Company and the Resolution of the Board of Directors set forth in said Power of Attorney are still in force In testimony whereof I have hereunto subscribed my name and affixed the seal of the said Company this 1St day of June 19 93 M C Vonnahm Assistant Secretary SEAL , 4) 7•r Form 1. 23142 -B INV NO G- 56523 -A PERFORMANCE BOND #123 930 364 KNOW ALL MEN BY THESE PRESENTS: That Newport Place, Inc. (hereinafter called the "Principal ", and Continental Casualty Company , a surety company authorized to do business in the State of Florida (hereinafter called the "Surety "), are held and firmly bound unto the City of Boynton Beach, a municipal corporation of the State of Florida (hereinafter called the "City "), in the full and just sum of $ 104,770.00 lawful money of the United States of America, to be paid to the City, to which payment well and truly to be made we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents: WHEREAS, the above bounded Principal, as a condition precedent to the approval by the City of a plat of a certain subdivision known as Newport Place , has submitted engineering and other construction plans for the Required Improvements prescribed by the Subdivision and Platting Regulations of the City, pertaining to the said subdivision (hereafter referred to as the "Subdivision Improvements Plans "), copies of which plans are attached hereto and by reference made a part hereof; and WHEREAS, it was one of the conditions of the said Subdivision and Platting Regulations that this bond be executed covering site completion Newport Place. NOW, THEREFORE, the conditions of this obligation are such that if the above bounded Principal shall in all respects perform the Subdivision Improvements Plans within the time specified in the Subdivision and Platting Regulations of the City, and shall indemnify and save harmless the City against or from all claims, costs, expenses, damages, injury or loss, including engineering, legal and contingent costs which the City may sustain on account of the failure of the Principal to perform the Subdivision Improvements Plans within the time specified in the said Subdivision and Platting Regulations, then this obligation shall be void; otherwise to be and remain in full force and effect. THE SURETY UNCONDITIONALLY COVENANTS AND AGREES THAT if the Principal fails to perform all or any part of the construction work as set forth in the Subdivision Improvements Plans, within the time specified, the Surety will forthwith perform and complete the said construction work and pay the cost thereof, including, but not limited to, engineering, legal and contingent costs, and will indemnify and save harmless the City as aforesaid. Should the Surety fail or refuse to perform and complete the said improvements, the City, in view of the public interest, health, safety and welfare factors involved and the inducement in approving and filing the said plat, shall have the right to resort to any and all legal remedies against the Principal and the Surety, or either, both at law and in equity, including specifically specific performance, to which the Principal and Surety unconditionally agree. THE PRINCIPAL AND THE SURETY FURTHER JOINTLY AND SEVERALLY AGREE THAT the City, at its opinion, shall have the right to construct or, pursuant to public advertisement and receipt of bids, cause to be constructed the aforesaid improvements in case the Principal should fail or refuse to do so in accordance with • • the Subdivision Improvements Plans and within the time specified, and ,n the even' the City should exercise. and give effect to such right, the Principal and the Surett. shall be jointly and severally liable hereunder to reimburse the City and total cost thereof, including, but not limited to engineering, legal and contingent costs, together with any damages, either direct or consequential, which may be sustained on account of the failure of the Principal to carry out and perform the Subdivision Improvements Plans within the time specified. IN WITNESS WHEREOF, the Principal and the Surety have executed these presents this 1 day of June 1993. Newport Place, Inc. BY: 75,2.5-- C' Address: �R 1150 8th Avenue S.W. Largo, FL 34640 Witnesses: .1 'ft- .1 a ualt BY: 4 •- t ' David T. Colby At orney -in -f act Countersigned: 0 AN FI, ida Resident A• t (Signature) 839 N. Magnolia Ave. Orlando, FL 32803 NOTE: NEWPORT PLACE, INC. IS THE RECORDED OWNER OF TRACTS 2,4,5,6 & 7 OF THE STANFORD PARK PLAT. For \II the( umtit ime•nt.lene Make AN ILLINOIS CORPORATION' POWER k.. ATTORNEY APPOINTING INDIVIDUAL ATTORNEY -IN -FACT Know All Men by these Presents, That CONTINENTAL CASUALTY COMPANY, a corporation duly organized and existing under the laws of the State of Illinois, and having its principal office in the City of Chicago, and State of Illinois, does hereby make constitute and appoint David T. Colby, Individually of Indianapolis, Indiana Its true and lawful Attorney -in -fact with full power and authority hereby conferred to sign, seal and execute in its behalf bonds, undertakings and other obligatory Instruments of similar nature - In Unlimited Amounts - and to bind CONTINENTAL CASUALTY COMPANY thereby as fully and to the same extent as if such instruments were signed by the duly authorized officers of CONTINENTAL CASUALTY COMPANY and all the acts of said Attorney, pursuant to the authority hereby given are hereby ratified and confirmed. This Power of A•torney is made and executed pursuant to and by authority of the following By Law duly adopted by the Board of Directors of the Company. "Article IX— Execution of Documents Section 3 Appointment of Attorney -in -fact. The President or a Vice President may, from time to time, appoint by writtencertificates attorneys -in - fact to act in behalf of the Company in the excecution of policies of insurance, bonds, undertakings and other obligatory instruments of like nature. Such attorneys -in -fact, subject to the limitations set forth in their respective certificates of authority, shall have full power to bind the Company by their signature and execution of any such instruments and to attach the seal of the Company thereto. The President or any Vice President or the Board of Directors may at any time revoke all power and authority previously given to any attorney -in- fact." This Power of Attorney is signed and sealed by facsimile under and by the authority of the following Resolution adopted by the Board of Directors of the Company at a meeting duly called and held on the 3rd day of April, 1957 "Resolved, that the signature of the President or Vice President and the seal of the Company may be affixed by facsimile on any power of attorney granted pursuant to Section 3 of Article IX of the By -Laws, and the signature of the Secretary or an Assistant Secretary and the seal of the Company may be affixed by facsimile to any certificate of any such power, and any power or certificate bearing such facsimile signatures and seal shall be valid and binding on the Company. Any such power so executed and sealed and certified by certificate so executed and sealed shall, with respect to any bond or undertaking to which it is attached, continue to be valid and bindina on the Company." In Witness Whereof, CONTINENTAL CASU�I. COMPANY has caused these be signed by its 18� President and its corporate seal to be hereto affixed on this _ day of r Z'ua���� 19__ CONTINENTAL CASUALTY COMPANY State of Illinois 1 a +<< County of Cook ( cc • cis SEAL 1997 J. E. Purtell Vice President. On this 27th day of February 87 , 19 , before me personally came J E. Purtell, to me known, who, being by me duly sworn, did depose and say: that he resides in the Village of Glenview, State of Illinois, that he is a Vice - President of CONTINENTAL CASUALTY COMPANY, the corporation described in and which executed the above instrument, that he knows the seal of said Corporation, that the seal affixed to the said instrument is such corporate seal, that it was so affixed pursuant to the said instrument is such corporate seal, that it was so affixed pursuant to authority given by the Board of Directors of said corporation and that he signed his name thereto pursuant to like authority, and acknowledges same to be the act and deed of said corporation. v NOTARY puouc %� PUBLIC „: � o c*Co..°. (cL Leslie A. Smith \ Notary Public CERTIFICATE My Commission Expires November 12, 1990 I, M C Vonnahme, Assistant Secretary of CONTINENTAL CASUALTY COMPANY, do hereby certify that the Power of Attorney herein above set forth is still in force, and further certify that Section 3 of Article IX of the By -Laws of the Company and the Resolution of the Board of Directors, set forth in said Power of Attorney are still in force In testimony whereof I have hereunto subscribed my name and affixed the seal of the said Company this 1 St day of J une . 1 g93 tF� ) L _paro•. M. C. Vonnahm Assistant Secretary. `s • � � v SEAL 1097 Form 1-23142-B INV NO G- 56623 -A