HomeMy WebLinkAbout6704RESOLUTION NO. _
A RESOLUTION APPROVING A SETTLEMENT AGREEMENT
WITH L.T. PROPERTIES, INC. AND AUTHORIZING THE
PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, COLORADO, that:
.qP.CTTnm 1 _
The Settlement Agreement dated March 25, 1991 by and between
L.T. Properties, Inc. and the City of Pueblo, a true copy of which
is on file in the office of the City Clerk, is hereby approved.
QPCTTnm 7 _
Upon receipt by the City of the payments specified in said
Settlement Agreement, the President of the City Council is
authorized and directed to execute the Settlement Agreement for
and on behalf of the City and the City Clerk is directed to affix
the seal of the City thereto and attest same.
INTRODUCED: March 25, 1991
By KENNETH HUNTER
Councilperson
ATTEST: APPROVED:
4/7
C' C er t J Pr dent of the City Council
r � ED a
ED
s
OFFICE OF THE CITY ATTORNEY
127 West, First National Bank Bldg.
PUEBLO, COLORADO 81003
MEMORANDUM
TO: Members of the City Council and City Manager
FROM: Thomas J. Florczak, Assistant City Attorney -'
DATE: March 20, 1991
RE: Settlement of Claim - L.T. Properties, Inc.
In 1982, as part of the Eagleridge Subdivision developments, the
developer, MGIC Development Corporation, platted Eagleridge, First
Filing which consisted of 47th Street (now known as Eagleridge
Boulevard) between Outlook and Ridge. At that time MGIC was to
install $375,000 of street, curb, sewer and other improvements.
All of the improvements were constructed except for the southerly
half of Eagleridge Boulevard which was not needed at that time.
MGIC consequently posted a bond for $84,000 to complete the
paving.
Eventually, MGIC became insolvent and the subject of receivership
proceedings in Wisconsin. The bond on the project was renewed and
later replaced by a separate bonding company. L.T. Properties
subsequently obtained title to the MGIC property in Eagleridge but
has repudiated the old obligation to construct the south half of
the street.
At this time, and for the foreseeable future, the south half of
Eagleridge Boulevard is not necessary to carry present or
projected traffic volumes. Moreover, both L.T. Properties and the
bonding companies have advised us of several legal and equitable
defenses they would assert if litigation were commenced.
In conjunction with Public Works, we have negotiated a cash
settlement from L.T. Properties of $50,400.00 in settlement of the
City's potential but disputed claim of $84,000 on the bonds. The
Agreement does not require the proceeds to be used, now or in the
future, to construct the south half of the road.
We recommend approval of the Settlement Agreement as in the best
interests of the City given the uncertainties and expenses of
litigation and the defenses which we anticipate would be asserted.
TJF
44.3/jp
SETTLEMENT AGREEMENT
THIS SETTLEMENT AGREEMENT (the "Agreement ") is made and entered into as
of this 25th day of March, 1991, by and between the CITY OF PUEBLO, a home rule
city of the State of Colorado (hereinafter referred to as the "City "), and LT PROPER-
TIES, INC., a Delaware corporation (hereinafter referred to as "LT ").
RECITALS
WHEREAS, MGIC Development Corporation, a Wisconsin corporation ( "MGIC "),
heretofore on September 27, 1982 filed with the County of Pueblo, in Book 2128, Page
913, that certain plat of subdivision known as Eagleridge, First Filing (the "Subdivi
sion"), covering the land legally described on Exhibit A attached hereto and made a part
hereof;
WHEREAS, the Subdivision constitutes a portion of the real property located in
Pueblo, Colorado, commonly known as Eagleridge as outlined on Exhibit B attached
hereto and made a part hereof;
WHEREAS, as a condition of the approval by the City of such plat of the Subdivi-
sion, MGIC agreed to install certain improvements described in Exhibit A, to the Bonds,
including, but not necessarily limited to, paving, curbing, grading, filing, storm sewers,
sanitary sewers, catch basins, sidewalks, pipelines and other similar improvements, on
all or portions of, or adjacent to, the Subdivision, including, without limitation, that
portion thereof consisting of the south half of the roadway commonly known as
Eagleridge Boulevard (also known as 47th Street) between Ridge Drive and Pioneer
Drive (the "Improvements ,, );
WHEREAS, the approval of said plat by the City was conditioned upon the fur-
nishing of an adequate surety bond to the City pursuant to Alterative 2 of the Public
Improvement Requirements in Section 12- 4- 70(1)(b) of the 1971 Code of Ordinances of
the City of Pueblo;
WHEREAS, in accordance with the requirements set forth by the City, MGIC
deposited with the City Bond No. MCN879527 issued by Northwestern National Casualty
Company (now known as Old Republic Surety Company) in the amount of Eighty -Four
Thousand and No /100 Dollars ($84,000.00), a copy of which is attached hereto as
Exhibit C (the "Old Republic Bond ");
WHEREAS, LT, as successor in title to MGIC, also deposited with the City Bond
No. 30017129 issued by Fidelity and Deposit Company of Maryland in the amount of
Eighty -Four Thousand and No /100 Dollars ($84,000.00), a copy of which is attached
hereto as Exhibit D (the "Fidelity Bond ") (the Old Republic Bond and the Fidelity Bond
are hereinafter together referred to as the "Bonds "); and
WHEREAS, certain disputes, misunderstandings and disagreements have arisen
between LT and the City concerning their respective rights and obligations with
respect to the Subdivision and the Improvements, and the City and LT have mutually
determined that it is in the mutual best interests of both parties to compromise and
settle all such differences, disputes and obligations relating to the Subdivision and the
Improvements.
NOW, THEREFORE, in consideration of the mutual covenants and agreements
herein contained, and for other good and valuable consideration, the receipt and suffi-
ciency of which are hereby acknowledged, LT and the City hereby agree as follows:
1. The above and foregoing recitals are hereby acknowledged by each of the
parties hereto and are hereby incorporated into and made a part of this agreement.
issuers of the Bonds stating that the Bond of such issuer is being surrendered uncondi-
tionally to LT and that all obligations secured by the Bond have been fully satisfied or
released. In the event the original Bonds are not so delivered, the City agrees to exe-
cute and deliver, upon the request of LT or any issuer of a Bond, such affidavits,
releases or other documentation as may reasonably be necessary to evidence the release
of the issuers' liability for payment under the Bonds.
4. The City hereby represents that, except for the Bonds, the City holds no
other collateral for the completion or construction of the Improvements or any portion
thereof.
5. The City hereby represents that it holds title to the Subdivision as a public
right of way and as public property and has unconditionally accepted the Subdivision for
maintenance, and the City hereby acknowledges that LT has no obligations whatsoever
with respect thereto.
6. The City hereby irrevocably and unconditionally releases and forever dis-
charges LT, MGIC and its affiliated corporations, and their respective officers, direc-
tors, employees, representatives, agents, stockholders, and corporate successors (col-
lectively the "Released Parties ") from and against any and all liability, loss, damage,
claims and obligations respecting or arising out of the construction, installation, repair
or maintenance of all or any portion of the Improvements and the payment therefor,
and from all manner of action, cause of action, claims, loss, damage or obligation what-
soever, in law or in equity, which the City now has or in the future may have against
any one or more of the Released Parties relating to the Improvements or any additional
or other improvements in or upon the Subdivision or any portion thereof or the payment
therefor.
7. The City hereby irrevocably and unconditionally releases and forever dis-
charges Old Republic Surety Company and the Fidelity Bond Company of Maryland and
each of them from and against any and all liability, loss, damage, claims and obligations
to pay money to the City pursuant to the terms of the Bonds and from all manner of
action, cause of action, claims, loss, damage or obligation whatsoever, in law or in
equity, which the City now has or in the future may have against any one or more of
the Bond issuers relating to the payment of the Bonds. Such Bond issuers may fully rely
on the release of obligations set forth herein.
8. The City hereby agrees that from and after the date hereof the construc-
tion, installation, repair or completion of the Improvements or any portion thereof, or
the assumption of any obligation therefor, shall not be required or be made a condition
precedent to (i) the granting of any pending or future zoning request or application, or
(ii) the granting of any residential building or other residential permits by the City,
with regard to any property now located in Eagleridge as outlined on Exhibit B.
9. It is expressly understood that nothing in this agreement and nothing with
respect to any action taken pursuant to this agreement shall be construed as an admis-
sion of any liability or non - liability by any party to this agreement or by their employ-
ees, agents, directors, officers, stockholders, assignees, partners, administrators or
successors or predecessors in title, but that this agreement is a settlement and compro-
mise of disputed claims.
10. The invalidity of any covenant, restriction, condition, limitation or any
other part or provisions of this agreement shall not impair or affect in any manner the
validity, enforceability or effect of the rest of this agreement. Failure to enforce this
agreement against any default shall not constitute a waiver of such default or of any of
the obligations under this agreement. This agreement may be amended only by an
instrument signed by all the parties hereto. This agreement may be executed in coun-
terparts, each of which shall be deemed an original.
11. All notices to or demands upon LT or the City required or desired to be
OFFICE OF THE CITY ATTORNEY
127 West, First National Bank Bldg.
PUEBLO, COLORADO 81003
MEMORANDUM
TO: Members of the City Council and City Manager
FROM: Thomas J. Florczak, Assistant City Attorney
DATE: March 20, 1991
RE: Settlement of Claim - L.T. Properties, Inc.
In 1982, as part of the Eagleridge Subdivision developments, the
developer, MGIC Development Corporation, platted Eagleridge, First
Filing which consisted of 47th Street (now known as Eagleridge
Boulevard) between Outlook and Ridge. At that time MGIC was to
install $375,000 of street, curb, sewer and other improvements.
All of the improvements were constructed except for the southerly
half of Eagleridge Boulevard which was not needed at that time.
MGIC consequently posted a bond for $84,000 to complete the
paving.
Eventually, MGIC became insolvent and the subject of receivership
proceedings in Wisconsin. The bond on the project was renewed and
later replaced by a separate bonding company. L.T. Properties
subsequently obtained title to the MGIC property in Eagleridge but
has repudiated the old obligation to construct the south half of
the street.
At this time, and for the Foreseeable future, the south half of
Eagleridge Boulevard is not necessary to carry present or
projected traffic volumes. Moreover, both L.T. Properties and the
bonding companies have advised us of several legal and equitable
defenses they would assert if litigation were commenced.
In conjunction with Public Works, we have negotiated a cash
settlement from L.T. Properties of $50,400.00 in settlement of the
City's potential but disputed claim of $84,000 on the bonds. The
Agreement does not :require the proceeds to be used, now or in the
future, to construct the south half of the road.
We recommend approval of the Settlement Agreement as in the best
interests of the City given the uncertainties and expenses of
litigation and the defenses which we anticipate would be asserted.
TJF
44.3/jp
SETTLEMENT AGREEMENT
THIS SETTLEMENT AGREEMENT (the "Agreement ") is made and entered into as
of this 25th day of March, 1991, by and between the CITY OF PUEBLO, a home rule
city of the State of Colorado (hereinafter referred to as the "City "), and LT PROPER
TIES, INC., a Delaware corporation (hereinafter referred to as "LT ").
RECITALS
WHEREAS, MGIC Development Corporation, a Wisconsin corporation ("NIGIC "),
heretofore on September 27, 1982 filed with the County of Pueblo, in Book 2128, Page
913, that certain plat of subdivision known as Eagleridge, First Filing (the "Subdivi
sion"), covering the land legally described on Exhibit A attached hereto and made a part
hereof;
WHEREAS, the Subdivision constitutes a portion of the real property located in
Pueblo, Colorado, commonly known as Eagleridge as outlined on Exhibit B attached
hereto and made a part hereof;
WHEREAS, as a condition of the approval by the City of such plat of the Subdivi-
sion, MGIC agreed to install certain improvements described in Exhibit A to the Bonds,
including, but not necessarily limited to, paving, curbing, grading, filing, storm sewers,
sanitary sewers, catch basins, sidewalks, pipelines and other similar improvements, on
all or portions of, or adjacent to, the Subdivision, including, without limitation, that
portion thereof consisting of the south half of the roadway commonly known as
Eagleridge Boulevard (also known as 47th Street) between Ridge Drive and Pioneer
Drive (the "Improvements ,, );
WHEREAS, the approval of said plat by the City was conditioned upon the fur-
nishing of an adequate surety bond to the City pursuant to Alterative 2 of the Public
Improvement Requirements in Section 12- 4- 70(1)(b) of the 1971 Code of Ordinances of
the City of Pueblo;
WHEREAS, in accordance with the requirements set forth by the City, MGIC
deposited with the City Bond No. MCN879527 issued by Northwestern National Casualty
Company (now known as Old Republic Surety Company) in the amount of Eighty -Four
Thousand and No /100 Dollars ($84,000.00), a copy of which is attached hereto as
Exhibit C (the "Old Republic Bond ");
WHEREAS, LT, as successor in title to MGIC, also deposited with the City Bond
No. 30017129 issued by Fidelity and Deposit Company of Maryland in the amount of
Eighty -Four Thousand and No /100 Dollars ($84,000.00), a copy of which is attached
hereto as Exhibit D (the "Fidelity Bond ") (the Old Republic Bond and the Fidelity Bond
are hereinafter together referred to as the "Bonds "); and
WHEREAS, certain disputes, misunderstandings and disagreements have arisen
between LT and the City concerning their respective rights and obligations with
respect to the Subdivision and the Improvements, and the City and LT have mutually
determined that it is in the mutual best interests of both parties to compromise and
settle all such differences, disputes and obligations relating to the Subdivision and the
Improvements.
NOW, THEREFORE, in consideration of the mutual covenants and agreements
herein contained, and for other good and valuable consideration, the receipt and suffi-
ciency of which are hereby acknowledged, LT and the City hereby agree as follows:
1. The above and foregoing recitals are hereby acknowledged by each of the
parties hereto and are hereby incorporated into and made a part of this agreement.
2. Concurrently with the execution and delivery hereof, LT is paying, by
wire transfer or by a certified or cashier's check payable to the order of the City, the
sum of Fifty Thousand Four Hundred and No /100 Dollars ($50,400.00), in complete satis-
faction of all obligations, if any, of LT with respect to the Subdivision and the construc-
tion, repair, installation and maintenance of all or any portion of the Improvements.
3. Concurrently with the execution and delivery hereof, the City is deliver-
ing to LT the original Bonds, or true and correct copies thereof and all supporting or
collateral documentation associated therewith, along with letters from the City to the
DLK1376 03/22/91 1400
issuers of the Bonds stating that the Bond of such issuer is being surrendered uncondi-
tionally to LT and that all obligations secured by the Bond have been fully satisfied or
released. In the event the original Bonds are not so delivered. the City agrees to exe-
cute and deliver, upon the request of LT or any issuer of a Bond, such affidavits,
releases or other documentation as may reasonably be necessary to evidence the release
of the issuers' liability for payment under the Bonds.
4. The City hereby represents that. except for the Bonds, the City holds no
other collateral for the completion or construction of the Improvements or any portion
thereof.
5. The City hereby represents that it holds title to the Subdivision as a public
right of way and as public property and has unconditionally accepted the Subdivision for
maintenance, and the City hereby acknowledges that LT has no obligations whatsoever
with respect thereto.
6. The City hereby irrevocably and unconditionally releases and forever dis-
charges LT, MGIC and its affiliated corporations, and their respective officers, direc-
tors, employees, representatives, agents, stockholders, and corporate successors (col-
lectively the "Released Parties ") from and against any and all liability, loss, damage,
claims and obligations respecting or arising out of the construction, installation, repair
or maintenance of all or any portion of the Improvements and the payment therefor,
and from all manner of action, cause of action, claims, loss, damage or obligation what-
soever, in law or in equity, which the City now has or in the future may have against
any one or more of the Released Parties relating to the Improvements or any additional
or other improvements in or upon the Subdivision or any portion thereof or the payment
therefor.
7. The City hereby irrevocably and unconditionally releases and forever dis-
charges Old Republic Surety Company and the Fidelity Bond Company of Maryland and
each of them from and against any and all liability, loss, damage, claims and obligations
to pay money to the City pursuant to the terms of the Bonds and from all manner of
action, cause of action, claims, loss, damage or obligation whatsoever. in law or in
equity, which the City now has or in the future may have against any one or more of
the Bond issuers relating to the payment of the Bonds. Such Bond issuers may fully rely
on the release of obligations set forth herein.
8. The City hereby agrees that from and after the date hereof the construc-
tion, installation, repair or completion of the Improvements or any portion thereof, or
the assumption of any obligation therefor, shall not be required or be made a condition
precedent to Q) the granting of any pending or future zoning request or application. or
(ii) the granting of any residential building or other residential permits by the City,
with regard to any property now located in Eagleridge as outlined on Exhibit B.
9. It is expressly understood that nothing in this agreement and nothing with
respect to any action taken pursuant to this agreement shall be construed as an admis-
sion of any liability or non - liability by any party to this agreement or by their employ-
ees, agents, directors, officers, stockholders, assignees, partners, administrators or
successors or predecessors in title, but that this agreement is a settlement and compro-
mise of disputed claims.
10. The invalidity of any covenant, restriction, condition, limitation or any
other part or provisions of this agreement shall not impair or affect in any manner the
validity, enforceability or effect of the rest of this agreement. Failure to enforce this
agreement against any default shall not constitute a waiver of such default or of any of
the obligations under this agreement. This agreement may be amended only by an
instrument signed by all the parties hereto. This agreement may be executed in coun-
terparts, each of which shall be deemed an original.
11. All notices to or demands upon LT or the City required or desired to be
given hereunder shall be in writing. Any notice or demand shall be deemed to have
been duly and sufficiently given if a copy has been mailed by United States registered or
certified mail in an envelope properly stamped and addressed or sent by overnight cou-
rier service (such as Federal Express), with receipt to the other party at such party's
address as set forth below. The effective date of any mailed notice shall be two (2)
days after delivery of the same to the United States Postal Service or overnight courier
service.
DLK1376 03/22/91 1400 2
If to LT: LT Properties
529 East South Temple
Salt Lake Citv, Utah 84102
Attn: C. Bruce Miller, President
with a copy to: Rudnick & Wolfe
203 N. LaSalle Street
Chicago, Illinois 60601
Attention: Morton M. Steinberg, Esq.
if to City: City of Pueblo
211 East "D" Street
Pueblo, Colorado 81003
Attention: Tom Cvar
Director of Public Works
with a copy to: Office of the City Attorney
127 Thatcher Building
Pueblo, Colorado 81003
Attention: Thomas J. Florczak. Esq.
12. This agreement shall be governed by the laws of the State of Colorado.
This agreement shall not provide third parties with any remedies, claim, liability, reim-
bursement, claim of action or other right. This agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and assigns.
The rights and benefits set forth herein shall inure to the successors in title to the Sub-
division and shall run with the land.
13. The parties acknowledge and state that they have received advice of
counsel regarding this agreement and regarding their rights and obligations hereunder
that they have, through their respective duly authorized officers or agents, read and
understand that this is a Settlement Agreement and that they intend to be legally bound
by the same. This agreement supersedes all prior agreements between the parties
relating to the subject matter hereof.
14. The parties hereto agree that either party to this agreement may record
this Agreement with the County of Pueblo following the full execution hereof.
15. Notwithstanding approval of this Agreement by the City Council of
Pueblo, the releases, representations, warranties and acknowledgements given or made
by the City herein are not given, made or effective unless and until the Agreement is
fully executed and the payments required in Paragraph 2 hereof have been made and
received.
IN WITNESS WHEREOF, the parties, by persons duly authorized, have executed
this Settlement Agreement, as of the day and year first above written.
ATTEST:
Assistant Secretary,,
Y
ATTEST:
City Clerk
LT PROPERTIES INC., a
Delaware g `orpora on
By:
, /1 n
CITY OF PUEBLO, a home rule City
of the State of Colorado
By: <, F '
Its: r'
DLK1376 03/22/91 1400
ACKNOWLEDGMENTS
STATE OF _ Co lorado )
SS
COUNTY OF Pueblo )
I, Susan H. Hernandez , a Notary Public in and for said County, in the
State aforesaid, do hereby certify that Steven Q. Green . personally known
to me to be the Vice President of LT Properties, Inc., a Delaware cor-
poration, and Morton M. Steinberg , personally known to me
to be the Assistant Sec. of said corporation and personally known to me to
be the persons whose names are subscribed to the foregoing instrument, appeared
before me this day in person and severally acknowledged that they signed and delivered
the said instrument as Vice President and Assistant Sec . of said
corporation, as trustee as aforesaid, and caused the Corporate Seal of said corporation
to be affixed thereto, pursuant to authority given by the Board of Directors of said cor-
poration, as their free and voluntary act and as the free and voluntary act and deed of
said corporation, as trustee as aforesaid.
GIVE N under my hand and Notarial Seal this 8 th day of Apr i 1 , 19 91 .
STATE OF Colorad )
SS
COUNTY OF Pueblo )
Notary Public
I, Susan H. Hernandez , a Notary Public in and for said Countv, in the
State aforesaid, do herebv certif that Marian D. Mead personally known
to me to be the City Clerk of City of Pueblo, a home rule city of the state of
Colorado, personally known to me to be the City Clerk of said City and
personally known to me to be the persons whose names are subscribed to the foregoing
instrument, appeared before me this day in person and severally acknowledged that
they signed and delivered the said instrument as Lewis A. Q uigley
City Manager of said City, and caused the Seal of said city to be affixed
thereto, pursuant to authority given by the Charter of said city, as
their free and voluntary act and as the free and voluntary act and deed of said
City , for the uses and purposes therein set forth.
GIVEN under my hand and Notarial Seal this 8th day of April , 19 .
M'�i Ea �11i�Ilit3:;'sU iQ L d •� - �:: = , :_ A
Notary Public
DLK1376 03/22/91 1400
EXH A
LEGAL DESCRIPTION
Eagleridge, First Filing, being a Subdivision of a portion of the northeast 1/4 of
the southeast 1/4 of Section 11, and the northwest 1/4 of the southwest 1/4 of
Section 12, all being in Township 20 South, Range 65 West of the Sixth (6th) Principal
Meridian according to the plat thereof recorded September 27, 1982 with the Recorder
of Pueblo County, Colorado in Book 2128, Page 913.
DLK1376 03/11/91 1012 A -1
EXHIBIT
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EXHIBIT
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EXHIBIT C
CITY OF PUEBLO, COLORADO
SUBDIVIDER'S COMPLETION BOND
KNOW ALL MEN BY THESE PRESENTS, That we MGIC Development Corporation, herein-
after called Principal, and NORTHWESTERN NATIONAL CASUALTY COMPANY, hereinafter
called Surety, are held and firmly bound unto the City of Pueblo, a home rule city
of the State of Colorado, hereinafter called City, in the sum of EIGHTY -FOUR
THOUSAIND DOLLARS ($84,000.00) lawful money of the United States of America for
the payment of which we bind ourselves, our heirs, executors, administrators, suc-
cessors, and assigns, jointly and severally, firmly by these presents.
WHEREAS the above named Principal has applied to the City for approval of a
plat of a certain area of land within the City to be known as Eagleridge Sub-
division First Filing, and has agreed, as a condition to the approval of said
plat by the City, to install the improvements set forth in Exhibit "A ", attached
hereto and made a part hereof by reference, which improvements may consist of,
but are not necessarily limited to, paving, curbing, grading, filling, storm sewers,
sanitary sewers, bridges, catch basins, headwalls, pipe lines, and other similar
improvements; and
WHEREAS the approval of said plat by the City is further conditioned upon the
furnishing of an adequate Surety Bond to be furnished to the City pursuant to
Alternative 2 of the public improvement requirements of Section 12- 4 -1(J) (1) (b)
of the 1971 Code of Ordinances of the City of Pueblo.
NOW, THEREFORE, the condition of this obligation is such that, if the Principal
shall in all respects comply with the terms and conditions of the approval of said
plat, these conditions being more specifically the completion of the improvements
referred to in Exhibit "A" hereof, in accordance with the ordinances and regulations
of the City in regard to subdivision improvements and according to the plans,
specifications, and schedules covering said work, and such approved additions, amend-
ments, or alterations as may be made in the plans, specifications, and schedules for
such work as approved in writing by the City's Director of Public Works, and shall
complete all of said work and shall receive a certificate of acceptance therefor
from the Director of Public Works on or before August 23, 1983, then this obligation
shall be void, otherwise remaining in full force and effect.
And said Surety, for value received, hereby stipulates and agrees that no change
involving an extension of time, alterations, or additions to the terms of the con-
tract or to the work to be performed or materials to be furnished thereunder, or in
the plans, specifications, and schedules covering same, shall in any way affect said
obligation of said Surety on this bond and the said Surety does hereby waive notice
of any changes, extension of time, alterations or additions to the work or of the
plans, specifications and schedules.
This bond shall be for the use and benefit of the City and if the improvements
referred to in Exhibit "A" are not timely completed and a certificate of acceptance
therefor issued by the City's Director of Public Works, then upon written notice
sent, by first class mail postage prepaid, to the Surety at his address herein,
Surety shall within ninety (90) days thereafter satisfactorily complete the improve-
ments or pay the full amount of this bond to the City. In the event of default here-
under and the City institutes any action to enforce this Bond, the Principal and
Surety agree to pay the City the cost of such action reasonable attorney fees.
EXHIBIT
s C
3
m
IN WITNESS WHEREOF, the Principal and Surety have caused these presents to be
duly executed on this 3rd day of September 1982
ATTEST:
j 6t,jtL k
1�5,% Secretary
PRINCIPAL
MGIC DEVELOPMENT CORP.
P.O. BOX 448
MGIC PLAZA
MILWAUKEE, WISCONSIN 53201
B
Glen T. H e lmeier, President
STATE OF WISCONSIN )
COU - ,TY OF L CLCi )
The oregoing instrument was acknowledged before me this ��tG� day
of 4 , 19� by Glen T. Hierlmeier as President, and
as Secretary of the MGIC Development Corp.
My commission expires:
tar P 411 c
Address: /- Azzl,k�tl
SURETY:
NORTHWESTERN NATIONAL CASUALTY COMPANY
`MILWAUKEE, WISCONSIN
BOND NO. S0879527
B 7 1- — tLe1
y -- - - --
Tom K. Brahe
Attorney -in -Fact
FRANK B. HALL 6 CO. OF WISCONSIN
One Plaza East - Suite 1100
Milwaukee, Wisconsin 53202
EXHIBIT "A"
SUBDIVISION PUBLIC IriPROVDfG
The public improvements which the Subdivider is required to provide in the
Eagleridge Subdivision, First Filing, 47th Street from Outlook Boulevard to
Ridge Drive, and Ridge Drive from 47th Street to South line of Subdivision_
NORTHERLY HALF OF
Item
47TH STREET
Unit
Construct 1,721 lineal feet of 6"
standard curb & gutter @ $7.50 /ft.
Lin. Ft.
$ 12,907.50
Construct 2,637 lineal feet of Type
II curb S gutter @ $7.00 /Ft,.
Lin. Ft.
18,459_00
Construct 736 square feet 7" reinf.
concrete @ $2.50 /sq. ft.
Sq. Ft.
1,840.00
Construct 70.1ineal feet 6" asphalt
curb head @ $4.00 /ft.
Lin. Ft.
280.00
Construct 1,371 lineal feet of 6 ft.
attached walk @ $7.50 /ft.
Lin. Ft.
10,282.50
Construct 404 lineal feet of 4 ft.
I
attached walk @ $5.00 /ft.
Lin. Ft.
2,020.00
Construct 54 lineal feet trans. 4 ft.
to 6 ft. walk @ $6.25/ft.
Lin. Ft.
337.50
Construct 5,069 square yards 2" x 2" x
17" asphalt @ $12.00 /sq. yd.
Sq. Yds.
60,E23.03
Construct 859 sgUare yards 2" x 2" x
10" Asphalt @ $10.00 /sq. yd.
Sq. Yds.
8,590.00
Construct 1,885 square yards 2" x 4"
asphalt @ $7.50 /sq. yd.
Sq. Yds.
14,137.50
Ferri ish & Place 5 'Monument Boxes
@ $140.00 each
Each
700.00
Furnish & place 2 Type III barri-
cades @ $1,500.00 each
Each
3,000.00
Page 1 of 3
EXHIBIT "A" (Contd.)
Eagleridge, First Filing
Public Improvements
Page 2
Item
Unit
Construct 1,394 lineal feet of 15"
sanitary sewer @ $17.00 /ft.
Lin.
Ft.
$ 23,698.00
Construct 240 lineal feet of 8"
sanitary seder @ $9.00 /ft.
Lin.
Ft.'
2,160.00
Construct 5 manholes @ $1,300.00 each
Each
6,500.00
Construct 50 lineal feet of 4" s:lni-
tary sewer @ $5.00 /ft.
Lin.
Ft.
250.00
COnStrL1Ct 168 lineal feet of 90"
Lin.
Ft.
i2,C00.00
Construct 12 lineal feet of 12"
R.C.P. @ $15.00 /ft.
Lin.
Ft.
180.00
Construct 2 Type "S" Inlets
@ $1,500.00
Each
3,000.00
Construct 1,578 lineal feet of 12 "t
water line @ $14.59/ft. max.
Lin.
Ft.
23,023.00
Construct 70 lineal feet of 16"
wester line @ $14.59/ft. max.
Lin.
Ft.
1,021.00
Construct drainage improvement (rip -
rap, ::od, concrete pans, irrigation
syc>tecn, excavation, etc.)
Lump
Sum
30,000.00
$265,214.00
10%
Contingency
26,52
TOTAL
$2.9.1,735.00
/ i
/ Page 3
i
SOUTHERLY HALF OF 47TH STREET
Item
Construct 1,384 lineal feet of 6"
Standard curb & gutter @ $7.50 /ft,
Construct 1,384 lineal feet of 6`
wide attached walk l $7.50 /ft.
Construct 4,185 square yards
asphalt paving @ $10.00 /Sq. yd.
Construct 65 lineal feet of 6"
Asphalt curb @ $4.00 /ft.
Furnish & Place (4) Monument Boxes
@ $140.00 /Each
Regrade & Compact Subgrade
Unit
Lin. Ft. $ 10,380.00
Lin. Ft. 10,380.00
Sq. Yd. 41,850.00
Lin. Ft. 260.00
Each 560.00
1,200.00
$ 64,630.00
10% Contingency 6,463.00
+ 20 Inflation (2 Yrs.) 12,926.00
TOTAL $ 2�►,019.00
Use: $84 o o0_oo
0
NORTHWESTERN NATIONAL CASUALTY COMPANY
MILWAUKEE, WISCONSIN
A STOCK COMPANY
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, That NORTHWESTERN NATIONAL CASUALTY COMPANY, a Wisconsin corporation, does
hereby make, constitute and appoint
---------- - - - - -- -T K. Brahe, E. R. Szolwinski, Each of Milwaukee, Wisconsin - - - - --
its true and lawful Attomey(s }in -Fact, with full power and authority for and on behalf of the company as surety, to execute and deliver and
affix the seal of the company thereto if a seal is required, bonds, undertakings, recognizances or other written obligations in the nature
thereof, as follows:
-------- - - - - -- -Any and all bonds, undertakings, recognizances or other
written obligations in the nature thereof not exceeding
One Hundred thousand ($100,000.00) DOLLARS in any single
instance --------------- - --
and to bind NORTHWESTERN NATIONAL CASUALTY COMPANY thereby, and all of the acts of said Attorneys -in -Fact, pursuant to these
presents, are hereby ratified and confirmed. This appointment is made under and by authority of the following provisions of the By -Laws of
the company, which are now in full force and effect:
Article 11, Section 1, The business and property of the company shall be managed and controlled by the board of directors.
Article 111, Section I. ....The board of directors may appoint additional officers and agents to perform such duties as may
be assigned by the board of directors.
This Power of Attorney is signed and sealed by facsimile under and by the authority of the following resolutions adopted by the
board of directors of the NORTHWESTERN NATIONAL CASUALTY COMPANY at a meeting duly held on January 12, 1965.
RESOLVED that the president, any vice-president or assistant vice - president, in conjunction with the secretary or any
assistant secretary, may appoint attorneys -in -tact or agents with authority as defined or limited in the instrument evidencing
the appointment in each case, for and on behalf of the company to execute and deliver and affix the seal of the company
to bonds, undertakings, recognizances, and suretyship obligations of all kinds; and said officers may remove any such
attorney -In -fact or agent and revoke any power of attorney previously granted to such person.
RESOLVED FURTHER that any bond, undertaking, recognizance, or suretyship obligation shall be valid and binding
upon the company
(i) when signed by the president, any vice - president or assistant vice - president, and attested and sealed (if a seal be
be required) by any secretary or assistant secretary; or
(ii) when signed by the president, any vice - president or assistant vice - president, secretary or assistant secretary, and
countersigned and sealed (if a seal be required) by a duly authorized attorney -in -fact or agent; or
(iii) when duly executed and sealed (it a seal be required) by one or more attorneys -in -fact or agents pursuant to and
within the limits of the authority evidenced by the power of attorney issued by the company to such person or persons.
RESOLVED FURTHER that the signature of any authorized officer and the seal of the company may be affixed by
facsimile to any power of attorney or certification thereof authorizing the execution and delivery of any bond, undertaking,
recognizance, or other suretyship obligations of the company; and such signature and seal when so used shall have the same
force and effect as though manually affixed.
IN WITNESS WHEREOF, NORTHWESTERN NATIONAL CASUALTY COMPANY, has caused these presents to be signed by its proper
officer, and its corporate seal to be hereunto affixed this ..... 3rd ......... day of .September ........... 19,82.
NOR STERN NATIONAL CASUALTY COMPANY
h�:�,O ►OS �r�,�� A tit
M SEAL ! • f 1 f ......................... ...............................
ifs♦ ' n �D Pr idanr
ASS r t . Secretary
STATE OF WISCONSIN, COUNTY OF MILWAUKEE —ss
On this ..... 3.r.d........ day of.......s..p.> ....... A.D., 19•.82 ......
personally came before me, Donald L. Bowen . ................ ............................... .... .
and..........Frazt%_P ...... ............................ to me known to be the individuals and officers of the NORTHWESTERN NATIONAL
CASUALTY COMPANY, who executed the above instrument, and they each acknowledged the execution of the same, and being by me duly
sworn, did severally depose and say: that they are the said officers of the corporation aforesaid, and that the seal affixed to the above
instrument is the seal of the corporation, and that said corporate seal and their signatures as such officers were duly affixed and subscribed
to the said instrument by the authority of the board of directors of said corporation..
No ry Public J 10 85
?Commlssl ................... Z ...... __ ...........
STATE OF WISCONSIN, COUNTY OF MILWAUKEE —ss
CERTIFICATE
1, the undersigned, assistant secretary of the NORTHWESTERN NATIONAL CASUALTY COMPANY, a Wisconsin corporation, 00
HEREBY CERTIFY that the foregoing and attached Power of Attorney remains in full force and has not been revoked; and furthermore, that
the provisions of the By -Laws of the company and the Resolutions of the board of directors set forth in the Power of Attorney, are now in
feiice.
Sired VW srmkd 3t tt'we City of %Iwaukee this_ ._.....3..._.. day Of .......... Sep. , 1982..
X .
�Mer1 Assist t Sacntory
CITY OF PUEBLO, COLORADO
SUBDIVIDER'S COMPLETION BOND
KNOW ALL MEN BY THESE PRESENTS, That we, L. T. Properties, Inc., herein-
after called Principal, and Fidelity and Deposit Company of Maryland,hereinafter
called Surety, are held and firmly bound unto the City of Pueblo, a home rule city
of the State of Colorado, hereinafter called City, in the sum of EIGHTY -FOUR
THOUSAND DOLLARS ($84,000.00) lawful money of the United States of America for
the payment of which we bind ourselves, our heirs, executors, administrators, suc-
cessors, and assigns, jointly and severally, firmly by these presents.
WHEREAS the above named Principal has applied to the City for approval of a
plat of a certain area of land within the City to be known as Eagleridge Sub-
division First Filing, and has agreed, as a condition to the approval of said
plat by the City, to install the improvements set forth in Exhibit "A ", attached
hereto and made a part hereof by reference, which improvements may consist of,
but are not necessarily limited to, paving, curbing, grading, filling, storm sewers,
sanitary sewers, bridges, catch basins, headwalls, pipe lines, and other similar
improvements* and
WHEREAS the approval of said plat by the City is further conditioned upon the
furnishing of an adequate Surety Bond to be furnished to the City pursuant to
Alternative 2 of the public improvement requirements of Section 12- 4 -7(J) (1) (b)_
of the 1971 Code of Ordinances of the City of Pueblo.
NOW, THEREFORE, the condition of this obligation is such that, if the Principal
shall in all respects comply with the terms and conditions of the approval of said
plat, these conditions being more specifically the completion of the improvements
referred to in Exhibit "A" hereof, in accordance with the ordinances and regulations
of the City in regard to subdivision improvements and according to the plans,
specifications, and schedules covering said work, and such approved additions, amend-
ments, or alterations as may be made in the plans, specifications, and schedules for
such work as approved in writing by the City's Director of Public Works, and shall
complete all of said work and shall receive a certificate of acceptance therefor
from the Director of Public Works on or before August 23, 1983, then this obligation
shall be void, otherwise remaining in full force and effect.
And said Surety, for value receivad, hereby stipulates and agrees that no change
involving an extension of time, alterations, or additions to the terms of the con-
tract or to the work to be performed or materials to be furnished thereunder, or in
the plans, specifications, and schedules covering same, shall in any way affect said
obiigacion of said Surety on this bond and the said Surety does hereby waive notice
of anv chanties, extension of time, alterations or additions to the work or of the
plans, specifications and schedules.
This bond shall'be for the use and benefit of the City and if the improvements
referred to in Exhibit "A" are not timely completed and a certificate of acceptance
therefor issued by the City's Director of Public Works, then upon written notice
sent, by first class rail postage prepaid, to the Surety at his address herein.
Surety shall within ninety (90) dais thereafter satisfactorily complete the improve -
rents or pay the full amount of this bond to the City. In the event of default here-
under and the City institutes any action to enforce this Bond, the Principal and
Surety agree to pay the City the cost of such action reasonable attorney fees.
EXHIBIT
d
E
m
IN WITNESS WHEREOF, the Principal and Surety have caused these presents
to be duly executed on this 6th day of September, 1986.
r --
r
ATTEST:
Secretary
C ol, m"„ 1- 0 , 1 NS�y vA
-TAl E OF �+1�S68A}SIN )
COUNTY OF /1 )
PRINCIPAL
L. T. PROPERTIES, INC.
1700 MARKET STREET
PHILADELPHIA, PA. 19103
BY: i(`
V G President
The foregoing instrument was acknowledged before me this ��t__ day
of �tY [3 �.�, c', r 19 by Aob<, 'f ff)4f ti as ca
Presiders , and as Secretary of L. T. Properties, Inc.
My Commission Expires:
No ary Public
Add r e s s: L1 �
�v0 � t-� f f1eG
SURETY:
FIDELITY AND DEPOSIT COMPANY OF MARYLAND
722 CIRCLE TOWER BUILDING
P. 0. BOX 44049
INDIANAPOLIS, INDIANA 46244
BOND NO. 3001 71 29
Bf
Jan L; Jacobs
Attorney -in -Fact
EXHIBIT "A"
SUBDIVISION PUBLIC IMPROVEMENTS
The public improvements which the Subdivider is required to provide in the
Eagleridge Subdivision, First Filing, 47th Street from Outlook Boulevard to
Ridge Drive, and Ridge Drive from 47th Street to South line of Subdivision:
NORTHERLY HALF OF 47TH STREET
It-.e
U
Construct 1,721 lineal feet cf G"
standard curb & gutter @ $7.50 /ft.
Liar.
Ft.
$ 12,907_50
Construct 2,637 lineal feet of Type
II curb & gutter @ $7.00 /ft..
Lin.
Ft.
18,459_00
Construct 736 square feet 7" reirif.
concrete @ $2.50 /sq. ft.
Sq.
Ft.
1,840.00
Construct 70.1ineal feet 6" asphalt
curb head @ $4.00 /ft.
Lin.
Ft.
280.00
Construct 1,371 lineal feet of 6 ft.
attached walk @ $7.50 /ft.
Lin.
Ft.
10,282.50
Construct 404 lineal feet of 4 ft.
attached walk @ $5.00 /ft.
Lin.
Ft.
2,020.00
Construct 54 lineal feet trans. 4 ft.
to 6 ft. walk @ $6.25/f.t.
Lin.
Ft.
337.50
Construct 5,069 square yards 2" x 2" x
17" asplil-alt @ $12.00 /sq. yd.
Sq.
Yds.
60,E23.Ou"
Construct 859 sgUare yards 2" x 2" x
10" Asphalt @ $10.00 /sq. yd.
Sq.
Yds.
8,590.00
CLMSCrUCt 1,885 square yards 2" x 4"
asphalt @ $7.50 /sq. yd.
Sq.
Yds.
14,137.50
Fern i,sh & Place 5 'tonumenc Boxes
Q $1.=10.00 each
Each
700.00
Furnish & place 2 Type III barri-
cades @ $1,500.00 cacti
Each
3,000.00
Page 1 of 3
EXHIBIT "A" (Contd. )
Eagleridge, First Filing
Public Improvements
Page 2
Item
Unit
Construct 1,394 lineal feet of 15"
sanitary sawar @ $17.00 /ft.
Lin.
Ft.
$ 23,698 -00
Construct 240 lineal feet of 8"
sanitary seller @ $9.00 /ft.
Lin.
Ft.
2,160.00
Construct 5 manholes @ $1,300.00 each
Lach
6,500.00
Construct 50 lineal feet of 4" sani-
tary sewer @ $5.00 /ft.
Lin.
Ft.
250.00
Construct 168 lineal feet of 90"
ft.C. t e $25;).00i Ct.
Lin.
Ft.
"+2,COO.00
Construct 12 lineal feet of 12"
R.C.P. @ $15.00 /ft.
Lin.
Ft.
180.00
Construct 2 Type "S" Inlets
C $1,50.00
Each
3,000.00
Construct 1,578 .lineal feet of 12 "T
water line @ $14.59/ft. max.
Lin.
Ft.
23,023.00
Construct 70 lineal feet of 16"
w.^te.r line @ $14.59/f.t. mar..
Lin.
2't.
1,021.00
Construct drainage improvement (rip -
rap, sod, concrete pans, irrigation
!,ys t-em, excavation, etc.)
Lump
Sum
30,000.00
$265,214.00
IO%
Contingency
26,52 1.00
TOTAL.
$291,735.00
Page 3
SOUTHERLY HALF OF 471 STREET
Item
Unit
Construct 1,384 lineal feet of 6
S_andard curb & gutter @ $7.50/ft,
Lin. Ft.
$
10,380.00
Construct 1,384 lineal feet of 6"
wide attached walk 0 $7.50 /ft.
Lin. Ft.
10,380.00
Construcr_ 4,185 square. yards
,asphalt I:avint, @ $10.00 1Sq. yd.
Sq. Yd.
41,850.00
Construct 65 lineal feet of 6"
Asphalt curb @ $4.00 /ft.
Lin. FC.
260.00
Purnish & Place (4) Monument Boxes
@ $140.00 /1:ach
Each
560.00
Regrade & Compact Subgrade
1,200.00
$
64,630.00
10% Contingency
6,463.00
+ 20 Inflation (2 Yrs.)
12 9 26.00
T0T'AL
$
24,019.00
Use: $84,0 ').00
l
Power of Attorney
FIDELITY AND DEPOSIT COMPANY OF MARYLAND
HOME OFFICE, BALTIMORE, MD
KNOW ALL MEN BY THESE PRESENTS: That the FIDELITY AND D EPosi r COMPANY OF MARYLAND, a corporation of the
State of Maryland, by C. M. PECOT, JR. , Vice- President, and C. W. ROBBINS
Assistant Secretary, in pursuance of authority granted by .Article Vl, Section 2, of the By -Laws of said Company, which
reads as follows:
"The Chairman of the Board, or the President, or any Executive Vice- President, or any of the Senior Vice- Presidents or Vice - Presidents
specially authorized so to du by the Board of Directors or by the Executive Committee, shall have power, by and with the concurrence of the Secretary
or any one of the Assistant Secretaries, to appoint Resident Vice - Presidents, Assi,tant Vice- Presidents and Attorneys -in -Fact as the business of the
Company may require, or to authorize any person or persons to execute on behalf of the Company any bonds, undertakings, recognizances,
stipulations, policies, contracts, agreements, deeds, and releases and assignments of judgrnients, decrees, mortgages and instruments in the nature of
mortgages, ... and to affix the seal of the Company therrio."
does hereby nominate constitute and appoint Jan L. Jacobs, William E. Frick, Jr. , Steven E.
Wolf, Anthony E. Ortman, Delores Koch and Clara Lu Day, all of Indianapolis, Indiana,
EACH .........................
its true andlawful agent and Attorney-in-Fact, to make, execute, sea and deliver, for, and on its behalf as surety, and as
its act and deed: any and all bonds and undertakings ...............................
n t e execution of such bonds or undertakings in pursuance of these presents, shall be as binding upon said
Company, as fully and amply, to all intents and purposes, as if they had been duly executed and acknowledged by the
regularly elected officers of the Company at its office in Baltimore, Md., in their own proper persons.
This power of attorney revokes that issued on behalf of Jan L. Jacobs, etal, dated,
April 26, 1982.
The said Assistant Secretary does hereby certify that the Aforegoing is a Irue copy of Article VI, Section 2, oft he By -LAws of said Company, and is
now in force.
IN WITNESS WHEREOF, the said Vice - President and Assistant Secretary have hereunto subscribed their names and
affixed the Corporate Seal of the said FIDELITY AND DEPOSIT C0!V1PAN) OF MARYLAND, this .... ...,26- t- h___- _...- _ ... day
of........ ... ... ly-- ............. -• -- - - - - -- , A.D. 19 . 8 - 5 --- -
a, FIDELITY AND DEPOSIT COMPANY OF MARYLAND
A�� ar c ATTEST: n
SEAL C
1, .,.,,.• ........... . -- - .. .................. . . .. By .. -- ------•--.... ......----------- --------- - - - -- -- - - - - --
I Assistant Secretary Vice- Pre.udirnt
STATE OF M ARYLAND SS,
CITY of BALTIMORE. I
On this 26th day of July A.D. 19 85 , before the subscriber, a Notary Public of the State of Maryland, in
and for the City of Baltimore, duly commissioned and qualified, came the above -named Vice- President and Assistant Secretary of the FIDELITY AND
DEPOSIT COMPANY of MARYLAND, to me personally known to be the individuals and officers described in ant who executed the preceding instrument,
and they each acknowledged the execution of the same, aril being by me duly sworn, severally and each for himself deposeth and sailh, that they are
the said officers of the Company aforesaid, arid that the seal affixed to the preceding instrument is the Corporate Seal of said Company, and that the
said Corporate Seal and their signatures as such officers were duly affixed and subscribed to the said instrument by the authority and direction of the
said Corporation.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed by Official Seal, at the City of the day and year first above written.
Notary Public�Commtssto z es... y,.l -,, -,1 -98-6
CERTIFICATE
1, the undersi Assistant .`secretary of the FIDELITY AND DEPOSIT COMPANY OF MARYLAND, do hereby certify that the original Power of
Attorney of which the foregoing is a full, true and correct copy, is in full force and effect on the date of this certificate; and I do further certify that the
Vice - President who executed the said Power of Attorney was one of the additional Vice - Presidents specially authorized by the Board of Directors to
appoint any Attorney -in -Fact as provided in Article VI, Section 2 of the By -Laws of the FIDELITY AND DEPOSIT COMPANY Of MARYLAND,
This Certificate may be signed by facsimile under and by authority of the followin resolution of the Board of Directors of the FIDELITY AND
D EPOSIT COMPANY OF MARYLAND at a meeting duly called and held on the lbih day of July, 1969.
RESOLVED: "That the facsimile or mechanically reproduced signature of any Assistant Secretary of the Company, whether made heretofore or
hereafter, wherever appearing upon a certified copy of any power of attorney issued by the Company, shall be valid and binding upon the Company
with the same force and effect as though manually affixed.
IN TESTIMONY- V HF EoF, f have hereunto�y scribed my name and affixed the corporate seal of the said Company, this ................ ...... day
c:1>LC'I71)eT' U
of ........... - ..-- _---- --- ------ ...... 19.._......
1.1428. -01' . -044
Assistant etary