Loading...
HomeMy WebLinkAboutAgenda Report - August 7, 1991 (108),� OF CITY OF L®DI AGENDA TITLE: Master Storm Drain Agreements Modifications: Parkwest and Sunwest 1V MEETING DATE: August 7, 1991 PREPARED BY: Publ is Works Director RECOMMENDED ACTION: That the City Council approve modifications to the revised Master Storm Drain Agreements for Parkwest and Sunwest IV and authorize the City Manager to execute the agreements on behalf of the City. BACKGROUND INFORMATION: In our work on the Irrpact Fee Program and in particular, the Master Storm Drain Fund, staff realized vie have a problem i n interpreting the amount of future reimbursements under two existing agreements. These agreements were written for two developments that installed Master Storm Drain facilities as part of their improvements. The agreements (Exhibits A & C) provided that the dol ;ar- credit for master storm improvements made by the developer be converted to "fee paid" acreage. Since the acreage credit exceeded the acreage developed, the developers would then receive the acreage fee paid by subsequent development. This arrangement was done to include "an amount attributable to interest" as required by Section 66486 of the Subdivision Map Act. The intent of the agreement was that as Master Storm Drain Fees are updated by the Engineering Ne«s Record Index (ENR), the reimbursable amount would increase at the same rate. The problem is that since the date of the agreements, the Master Storm Drain Fee Program has undergone a major revision; one could even argue that the fee referred to in the agreement no longer exists, therefore the reimbursement is now zero. Staff felt an amendment to the agreement was necessary to eliminate uncertainty on this point. At the time of the agreement, the Master Storm Drain Fee was a single fee ($3,670 per gross acre for Parkwest and $3,860 fur Sunwest IV). The revision adopted in 1989 separated residential and non-residential acreage resulting in two fees. If they had been reimbursed then for residential acreage, they would have received only $3,620/acre. VST have recalculated what the old fee would have been based on the ENR Index. This amount is $4,290 per acre. Thus value of the credit should be $266,838 for Parkwest and $154,869 for Sunwest IV. The rev agreements will use the above credits as a base value and will update that amount each January 1 by the ENR Index. The logic of using the ENR Index is that subsequent development should not have to pay more for earlier construction of improvements than what they would cost at their time of development. The ENR construction cost index is the appropriate index for this purpose. APPROVED. _^ THOMAS A PETERSON ..K..e... Council Communication Master Story Drain Agreements Modifications August 7, 1991 Page 2 The developers were contacted and provided with a draft agreement (Exhibits B & D). They have verbally agreed to the changes. In addition to the storm drain changes, the Sunwest IV agreement includes a change related to the last unit (Sunwest 12) of the Sunwest IV project. The Sunwest 12 project included the construction of a temporary sanitary sewer lift station plus the developer was required to pay his fair share of the cost of the permanent lift station to be constructed near Kettleman Lane and Mills Avenue. Payment was to be made prior to acceptance of Sunwest 12. That amount has been calculated as part of the Impact Fee Program and has been included in this new agreement and will be deducted from the Storm Drain amount due the developer. The City will then transfer the funds ($2,570) from the Storm Drain Fund to a my fund for the 1 if t station. FUNDING: Storm Drain Fund (123.1) rJakonsko rks Director Prepared by: Richard C. Prima, Jr., Assistant City Engineer JLR/RCP/cll Attachment cc: Assistant Civil Engineer Ciera ld Kirsten Fred Baker CCOMMSTM/TXTW.FRM (CO,COM) July 30, 1991 Exhibit ]AI CT TY OF LODI PUBLTG WORKS DEPP_RT_1ENT AGIRI:ZMENT THIS AGREEI-?EI'T entered into this day e- 983, by and between A"c (,/ /'� :moi �/ hereinafter called Granto=, and the CIT'_' OF LODI, he rei.nafter called City, for the development of master Storm Drain facilities for Lodi Park :lest Subdivision, located in the "E" Drainage Area (generally bounded by Lcwer Sacramento Road and the W.I.D. Canal as shown_ on the City Master Stogy Drain Plan, see Exhibit A) . U i T N -E S S E T H: Z. Grantor agrees to grant to the City and the City agrees to accept a grant deed for that certain real property in the City of Lodi, County of San joaa-uin, State of Californ==, described as follows: A portion of the Northwest Quarter of Section 3, Township 3 North, Rance o East, Mount Diablo Base and Meridian being more particularly described as follows: Comz:encinq at the center of Section 3, Township 3 North, Rance o East, mount Diablo Base and .-feridl-an, and run along the South Lzne of the North:Jest Quarter of Section 3, North 390 30' West, 1423.48 _eet to the True Point of Beginning; thence Forth 60 24' 42" West, 16.41 feet; thence along a curve to the right, having a radius of 750 feet, a central angle of 60 24' 42", an arc length of 83.93 feet and a chord which bears North 3" 12' 21" West, thence North, 190.00 feet; North 89" 30' West, 275.00 feet; South 80° 03' 14" West, 551.52 feet; North 890 30' West, 257.50 feet; thence South 0° 02' 45" East, 190.00 feet to a point on the South line of the Northwest Quarter; thence along said South line of the Northwest Quarter, South 89" 30' East, 1052.12 feet to the True Point of Beginning and containing 5.95 acres. 2. City agrees to credit Grantor for Master Storm Drain fees the sum of $119,000.00 for the property above described c hen title is transferred to City free and clear of liens and encumbrances except unpaid current taxes, covenants, conditions, restrictions, and utility easements of record, if any. 3. Both parties understand and agree that: (a) The amount to be credited under paragraph 2 above shall be applied as a credit toward City of Lodi Master Storm Drain Fees for the Lodi Park West Subdivision. The amount shall be converted to acreage at the present Master Storm Drair. Fee rate of $3,670.00 per acre; thus 32.4 acres of Lodi Park West SUB001/lpw - 2 - w i 1 1 be considered as having paid the master Storm Drain Fee. (b) Grantor will install Master Storm Drain facilities as required by the City as part of the development of Lodi Park West. The cost of such facilities will be credited toward Master Storm Drain Fees by converting the cost to drainage fee paid acreage at the rate of the Master Storm Drain Fee in effect at the tine the improvements are accepted by the City. (c) City will furnish the basic design for the Master Storm Drain facilities and Grantor's engineer will prepare plans and specifications at Grantor's cost. (d) Grantor will excavate the basin to the line and grade approved by the City at his expense. (e) Grantor will construct at his expense any temporary facilities needed to make the drainage system functional but are not part of the ultimate Master Drain System. 4. In the event the acreage computed in 3(b) above exceeds the acreage of Lodi Park West Subdivision, City shall reimburse Grantor for this excess acreage in accordance with the following: As -the City collects Master Storm Drain Fees from other acreage within the "B" Drainage Area, such acreage fees shall be paid to Grantor until the excess acreage is reached, except that if the development paying the fee requires additional blaster SUB0,01/1pw — 3 _ Storm Drain facilities, the acreage fee shall be applied to those facilities prior.to paying Grantor. 5. City agrees to pay all title, escrow and recording fees. 6. Both parties agree to recording of the deed and this Agreement. 7. Both parties agree that they have herein set forth the whole of their Agreement. Ti,e performance of this Agreement constitutes the entire consideration and shall relieve City of all further obligation or claims. 8. This agreement is binding on the heirs, executors, administrators, and assigns of the parties hereto. 9. Both parties agree that this agreement shall expire July 1, 2008. Any Master Storm Drain Fees collected after thtt date shall be retained by the City. P0, Notices pertaining to this agreement shall be sent to: Jerry Kirsten City of Lodi 320 S. Crescent Avenue Public Works Director Lodi, CA 95240 P.O. Box 320 Lodi, CA 95241 SUB001/1pw - 4 - IN WITNESS WHEREOF the parties have executed this Agreement the day and year hereinabove written. CITY OR LODI, a Municipal Corporation By: G� Henry A.jGlaves City`Manager Attest: Alice.M. Rei the . .)City Clerk YN SUB001/lpw - 5 e, LODI PARK WEST #REA MASTER STORM DRAIN F CEMENT Summary Sheet December 4 1986 Unit Acres Master Storm Drain System Acreage Acres Ne - Item Cost Fee Credited Acre, ------------------------------------------------------------------------------ #1 13.7 Basin Land 119000.00 3670 32.4 i8..= 36" SD @ LSR & structure 34909.00 3750 9.3 2q #2 & #3 19.1 8.9 +J6" & 48" SD 96.327. 00 Basin St. Work #2 9901.60 Basin St. Work #3 6251.00 Utilities #2 12992.50 Utilities #3 5933.00 Subtotal 131395.10 x.755 35 43.9 Basin: Pump Sta 131575.14 Int Drain 24759.50 Fencing 3715.00 Turf /Spr . 44365_ 00 Subtotal 224414-647' 3790 53.2 103.1 #4 6.5 96.6 #.5. 8.8 81.8 48" SD 3800.00 3,790 3.7 96.5 #6 13 83.5 w7 9.a 73.7 #8 11.5 62.2 Total Developed 82.4 Park West Total 89.1 Remainder 6.7 (Basin) Exhibit BJ PARKWEST (E -AREA) ,MASTER STORM DRAIN AGREEMENT I This Agreement made this day of 1991 by and between Park West, a Limited Partnership hereinafter called "Developer" Wand the CITY OF LODI, a Municipal Corporation, hereinafter called "City" WITNESSETH Whereas, DEVELOPER and CITY have entered into a previous Storrs Drain Agreement dated July 20, 1983 regarding Master Storm drain improvements and fee credits and reimbursements; and Whereas, the Master Storm Drain Fee cited in the storm agreement no longer exists , thus creating an ambiguity in determining future reimbursements as called for in the agreement; NOW, THEREFORE, in consideration of and subject 'to the covenants and conditions herein containea, it is further agreed by and berween the parties as follows: I } The value of the reimbursement cited in Section a of the Storm Agreement is $266,835 as of january 1, 1991 based on what the Master Storm Drain Fee would have been. 2) City agrees to reimburse Developer the amount of 5266,838 plus an amount attributable to interest per the following: a) As the City collects fees under a Storm Drainage fee program from property in E -area, such fees shalt be paid to Developer until the above amount is reached except that if the development paying the fee requires additional storm drain facilities per the Storm Drainage Fee program, the fees shall be applied to chose facilities prior to reimbursing developer. b) The reimbursable amount shall be recalculated in January of each year based on 5266,338 less any reimbursements made in the previous year multiplied by the Engineering News Record 20 Cities Construction Cost Index for the date nearest January !, divided by 4770 (the Index for January 1, :991). 3) This agreement supersedes Section a of the foresa i d Storm Drain Agreement. 4) Poch parties agree to the recording of this agreement. amu? �rc {:lt, , .TSN . O1L 5) Bo h Parties agree that hey have her in set forth the whol of th it Agreement. The performance- of this agreement constitutes the entire consideration and shall relieve City of all further obligation or claims. 6) This Agreement is binding on the heirs, executors, administrators and assigns of the partner hereto. 7) Notices and/or reimbursements pertaining to this agreement shall be sent to: Jack L. Ronsko DEVELOPER'S ADDRESS Public Woks Director Jerald Kirsten 221 West Pine Street 1726 windjammer Court P.O. Box 3006 Lodi, California 95242-4286 Lodi, CA 95241-1910 It is Developer's repsonsibility to keep City notified of current address. EXECUTION DATED this Day of ,1991. In Witness Whereof, have caused their names to be hereunto affixed and the City Lodi has caused its corporate name and seal to be affixed by its proper officers thereunto duly authorized. By Thomas A. Peterson, City Manager ATTEST: Alice M. Reimche, City Clerk APPROVED AS TO FORM: Bob McNatt, City Attorney AGPARKWE/TXTW.01L Jerald Kirsten Sen Schaffer i S P,'xh-'bit I SUcYWES T UNI- TV M?STCY STORM Ur.Ai :`Gn__`"_V 'Y_S ACZRC�M�j'�! entered into this ist day Of July iS�Ui, iy and between Chris R. KeS-7ler hereinafter can ed S(:bdi.ider, 2 ^.d She C7iY OF CDDt, hereinafter called City, -or Che development o-7 Master Storm Drain facili:i_s for .'.UNWESI URIi ;V Subdivision, as shown on 7Yhibit- .�, attached, located in the ' Drainage .Area (general ,y bounded by Lcwer Sacramento Road, the W,I.D. Canal and Marney Lane as shown on Lite City Master Storr Drain Plan, see Exhibit A). 1 Both parties understand and agree that: (a) Subdivider will install Master Stcrm Grain )facilities as required by the City as part or the development of Sunwest Unit IV. Such facilities include, but are not Limited to, the trunk line connectino the existing 36" line in interiaken Drive to the C -basin and existing 48" line in Century BOuievard. The cost of .such facilities will be credited toward nester Storm Drain Fees by converting the cost to drainage fee paid acreaee at the rate of the Master Storm Drain Fee in effect at the time the improvements are accepted by the City. (b) Payment or Master Drainag_ FeeF normally made at the gime of map filing will be waived in favor cf the terms o, the .Agreement. in the even;. Subdivider files multiple maps for Sunwest Unit TV, the drainage fee paid acreage shall be reduced by the applicable acreage for each map in the order in which said .Maps are filed. (c) City wiil furnish the basic design for the Master Storm Drain facilities and Subdivider's engineer will prepare plans and specifications at Subdivider's cost. (d) Subdivider will excavate G -Basin to the line and grade approved by the City at his expense.. Excavated material shall be used io fill the existing Sunwest basin located at Interlaken Drive or for grading Sunwest Unit IV. No materiai shall be sold or otherwise disposed of without the written consent of the City. Sxcess material shall be stockpiled to the City's approval at the C -Basin s rte. (e) Subdivider will construct at his expense any temporary facilites needed to make the drainage system iunctionai, but are not part of the ultimate :vaster Drain System. �. cn --he GvenC tic' aCreag� CCmpUten in i(a, cbove exceeds the ::crz-ace of Sunwest 7nit IV SuCd'Ivision, CitJ sd2111 reimburse SubCivider 'O!. s excess aCreace in acCord-An.ce wi In :he sGl i0'v1 nQ : As the City collects Master Storm Drain Fees from other acreage within the "G" Drainage Area, such acreage fees shall be paid to Subdivider until the excess acreage is reached, except that if the development paying the fee requires additional Master Storm Drain facilities, the acreage fee shall be applied to those facilities prior to paying Subdivider. 3. Subdivider agrees to pay City the sum of 580,902.01 toward the installation costs of the 60" storm drain in Sylvan Way and Sage Way. Said payment shall be for the cost difference between the 36" storm drain facility previously planned for the Meadows Subdivision and the 60" storm drain facility actually installed. 4. Both parties agree to recording of the deed and this Agreement. 5. Both parties agree that they have herein set forth the whole of their Agreement. The performance of this Agreement constitutes the entire consideration and shall relieve City of all further obligation or claims. 6. This agreement is binding on the heirs, executors, administrators, and assigns of the parties hereto. 7. Both parties agree that this agreement shall expire July 1, 2011. Any Master Storm Drain Fees collected after that date shall be retained by the City. 3. Notices pertaining to this agreement shall be sent to: City of Lodi Publ is Works Director Call Box 3006 Lodi, &A 95241-1910 IN WITNESS WHEREOF the parties have executed this Agreement the day and year hereinabove written. CITY OF LODI , a Municipal Corporation By-.— t st,t37 h` nomas A. Peterson, City Manager Attest: lj7t�,a�l f1°dn•, T Alyce M. Reimchd, City Clerk -2- SWIVMSD/TXTW.O1C ell SUNWEST UNIT IV/ G AREA MASTER STORM DRAIN AGREEMENT Summary S h e e t APRIL 23, 1991 Master Storm Drain System Acreage Acres N e t Unit Acres Item Cost Fee Credited Acres #4 10.3 11 .9 1/2 Sts. 1.6 Clear & Grub $6,000.00 36" SD 22,422.00 48" SD 76,959.00 54" SD 45,017.00 60" SD 147,696.00 60" SD (Cl. FII) 25,200.00 60" SD (Cl. IV) 26, 550.00 60" MH 8,400 .00 481, MH 6,750.00 Total Developed 58.5 Subtotal $364,994.00 3860 94.6 82.7 79.7 St 5 3 77.9 #6 1.8 70.2 #7 7.7 64.8 tt8 5.4 63.7 PM 87P008 1.1 59.6 #9 4.1 52.1 X10 7.5 50.1 #11 2.0 36.1 #12 14 KKMKM If MKMf 7F K KKK KK Kif M K K KKK KKiK K KKK KK KK K KK K KKK K Kif i K M K K K iFK KKKKKKKKM K KK KKK A+f KK♦ K» Total Developed 58.5 , Exh,iblt D i , SUNWEST UNIT 12 ,`ASTER STORM DRAIN AND SANITTARY SENE4 LIFT STATION AGREEMENT -his Acreement made this nay of 1991 by and between Chris Keszler and Fred Baker hereinafter called "Developer" and the C77'( OF LOD1, a Municipal Corporation, nereinaiter called "City". 'ri iTNESSETH Whereas, DEVELOPER and CITY have entered into a previous agreement dated May 2, 1590 regarding the development of Sunwest Unit No. 12, Tract No. 2378; and Whereas, Chris Keszler and City have also entered into a previous agreement dated July 1, 1987 regarding Sunwest IV Master Storm Drain. Agreement which included the area of Sunwest Unit ,No. 12 (hereafter rererred to as Storm Agreement); and Whereas, the tentative map conditions and the subdivision agreement for said Sunwest Unit No. 12 included the requirement that DEVELOPER pay the costs for abandonment of temporary .lift station and DEVELOPER'S portion of the future Kettleman Cane sewer lift station; and Whereas, costs for said Kettleman Lane sewer lift station have been determined by Nolte and Associates and Angus McDonald and Associates to be 51,555 per gross acre; and Whereas, costs for said temcorary lift station abandonment have been determined by the City to be 55,800; and Whereas, the ,Master Storm Drain Fee cited in the storm agreement no ionaer exists, thus creating an ambiguity in detarminina future reimbursements as called for in the agreement; NOW, THEREFORE, in consideration of and subject to the covenant5 and conditions herein contained, it is further agreed by and between the parties as follows: 1) The value of the reimbursement cited in Section 2 or the Storm Aereemeni is 5154,869 as of January 1, 1991 based on what the `aster S torrn Drain Fee would have been. 2) The value c1 the sanitary sewer i;;t station work cite -d above is S27,5-70 (14.0 acres in Sunwest 12 x 51,59-5%acre plus S15,800) as o January 1, 1991. 3) City agrees to establish a separate fund for the future Kettleman Lane Lift Station and transfer 427,570 from the Master Drainage Fee (123.0) fund to this nox fund. 4) City agrees to reimburse Developer the amount of $127,299 (based on $154,869 less $27,570) plus an amount attributable to interest per the following: a) As the City collects fees under a Storm Drainage Fee program from property in G -area, such fees shall be paid to Develcper until the above amount is reached except that if the development paying the fee requires additional storm drain facilities per the Storm Drainage Fee program, the fees shall be applied tc those facilities prior to reimbursing developer. b) The reimbursable amount shall be recalculated in January of each year based on $127,299 less any reimbursements made in the previous year multiplied by the Engineering News Record 20 Cities Construction Cost Index for the date nearest January 1, divided by 4770 (the Index for January I, 1991). 5) The CRY agrees to: a) Use payment from DEVELOPER to help construct said Kettlemar Lane Sewer Lift Station and abandon the temporary lift station which was constructed with Sunwest No. 12. 6) This agreement supersedes Section'2 of the foresaid Storm Drain Agreement. 7) Both parties agree to the recording of this agreement. 8) Both parties agree that they have herein set forth the whole of their Agreement. The performance of this agreement constitutes the entire consideration and shall relieve City of all further obligation or claims. 9) This Agreement is binding on the heirs, executors, administrators and assigns of the partner hereto. 10) Notices and/or reimbursements pertaining to this agreement shal : be sent to: Jack L. Runsko DEVELOPER'S ADDRESS Public Wodks Director Fred Baker 221 West Pine Street 317 West Lodi Avenue P.O. Box 3006 Lodi, California 95240 _ Lodi, CA 95241-1910 It is the Developer's responsiblity to keep the City notified of current address. AGKESZLE. l; TXTW . Ol L EXECUTION DATED this Day of , 1991. In Witness Whereof, have caused their narnes to be hereunto attixed and the City of Lodi has caused its corporate name and seal to be affixed by its proper officers thereunto duly authorized. Chris Keszier Fred er CITY OF LODI, A NIJNIAPAL CORPORATION By Thomas A. Peterson, City Manager ATTEST: Alice M. Reimc e, City Clerk APPROVED AS TO FORM: Bobc att, City Attorney AGKESZLE.IJTXTW.O1L 'CITY COUNCIL DAVID M. HINCHMAN. Mayor JAMES W. PiNKERTON. Jr. Mayor Pro Tempore PHILLIP A. PENNINO JACKA. SIECLOCK JOHN R. (Randy) SNIDER Mr. Jerald Kirsten 1726 Windjammer Court Lodi, CA 95242-4286 CITY OF LODI CITY HALL, 221 WEST PINE STREET P.O. BOX 3006 LODI. CALIFORNIA 95241-1910 (209)334-5634 FAX 1209)333-6795 August 15, 1991 SUBJECT Parkwest (E -Area) Master Storm Drain Agreement THOMAS A. PETERSON City Manager ALICE M_ REIMCHE City Clerk BOB McNATT City Attorney The enclosed agreement was approved by the City Council at their meeting of August 7, 1991. Please sign the agreement and return one copy as soon as possible. Ycu make keep the second copy for your records. Please call rlc if you have any questions. Sharon Blaufus Administrative Assistant SB/1r Enclosures cc: City Clerk LPARKWST/TXTW.02M LyY11YK1W411 DAVID M. HINCHMAN, Mayor JAMES W. PINKERTON, Jr. Mayor Pro Tempore PHILLIP A. PENNINO JACK A. SIECLOCK JOHN R. (Randy) SNIDER Nt Fred Baker 317 West Lodi Avemie todi, CA 95240 CITY OF LORI CITY HALL, 221 WEST PINE STREET P.O. BOX 3006 ICDI, CALIFORNIA 95241-1910 (209)334-5634 FAX (209) 333-6795 August 15, 1991 SLBECT- Sunwest Unit 12 Master Storm Drain and Sanitary Sewer Lift Station Agreement THOMASA. PETERSON City Managet ALICE M. REIMCHE City Clerk B O B McNATT City Attorney The enclosed agreement was approved by the City Council at their meeting of August 7, 1991. Please complete the developer's address information on page two, sign the agreement and return one copy as soon as possible. You make keep the second copy for your records. Please call ne if you have any questions. Sharon Blaufus Administrative Assistant SB/lm Enclosures cc: City Clerk LSUNWEST/TXTW.02M CITY COUNCIL DAVID M. HINCHMAN. Mayor JAMESW. PINKERTON. Jr. Mayor Pro Tempore PHILLIPA. FENNINO JACK A. SIEGLOCK JOHNR. (Randy) SNIDER N t Fred Baker 317 West Lodi Avenue Lodi, CA 95240 CITY OF LQDI CITY HALL. 221 WEST PINE STREET P.O. BOX 3006 LODI. CALIFORNIA 95241-1910 (209)334-5634 FAX 1209) 333-6795 August 16, 1991 SUBJECT: Sunwest Unit No. 12 THOMAS A PETERSON City Manager ALICE M REIMCHE City Clerk 808 MCNATT City Attorney The City Council of the City of Lodi, at its meeting on August 7, 1991, accepted the public improvements that were made in the subject project. Enclosed for your files is a copy of the resolution accepting the public improvements. From the date of the resolution, the City of Lodi will maintain the street and other public improvements installed within rights-of-way and public utility easements as shown on the approved plans. The enclosed letter has been sent to your bank so the Instrument of Credit covering faithful performance can be exonerated. The Instrument of Credit covering labor and materials must remain in effect for a period of 90 days from the date of the resolution, in conformance with State law, On November 5, 1991 this instrument can be released if no claims have been filed. If you hav any q tions, Richard C. 'Prima Jr. Assistant City Engineer RCP/ lm Enclosures please contact me. cc: Building Division Police Department Fire Department Electric Utility Department )toter/Wastewater Division Street Divisi City Clerk Farmers and Merchants Bank LSUNWEST.1/TXTW. 02M CITY COUNCIL THOMAS A. PETERSON DAVID M. HINCHMAN. Mayor CITY O F L O D I ALICE M. REC'ty Manager JAMES W. PINKERTON, Jr. IMCHE Mayor Pro Tempore City Clerk PHILLIP A. PENNINO CITY HALL, 221 WEST PINE STREET BOY McNATT )ACID A. SIECLOCK P.O. BOAC 3006 City Attorney JOHNR. (Randy) SNIDER LODt CALIFORNIA 95241-1910 (209)334-5634 FAX 009) 333-6795 August 16, 1991 Farmers and Merchants Bank 121 West Pine Street Lodi, CA 95240 SUBJECT: Sunwest Unit No. 12 The City Council of the City of Lodi, at its meeting on August 7, 1991, accepted the public i(nprovements in the subject project. A copy of the Resolution is enclosed for your files. This letter is your authorization to exonerate the Instrument of Credit covering faithful performance. The Instrument of Credit covering labcr and materials must remain in effect until November 5, 1991, in conformance with State law. Yca will receive no further correspondence regarding the release of the Instrument of Credit for labor and materials unless a claim is filed. If you ;. ?wvucI have any questions, please contact mr�� Richard C. Prima Jr. 11 Assistant City Engineer RCP/lm Enclosure cc: Fred Baker City GJlerk LSUNWEST.2/TXTW.02M