HomeMy WebLinkAboutRelease of Bonds - TetherowES
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Deschutes County Board of Commissioners
1300 NW Wall St., Suite 200, Bend, OR 97701-1960
(541) 388-6570 - Fax (541) 385-3202 - www.deschutes.or€
AGENDA REQUEST & STAFF REPORT
For Board Business Meeting of November 3, 2008
Please see directions for completing this document on the next page.
DATE: October 28, 2008
FROM: Anthony Raguine Community Development Department
617-4739
TITLE OF AGENDA ITEM:
Consideration and approval of the release of the Tetherow Phase I performance bond and acceptance of
the maintenance bond.
PUBLIC HEARING ON THIS DATE? No.
BACKGROUND AND POLICY IMPLICATIONS:
On August 29, 2007, the Board approved Improvement Agreement IA -07-7 (document # 2007-383) for
the Tetherow Destination Resort Phase I infrastructure (roads and utilities), and accepted the associated
performance bond. The Road Department (see attached email) has verified that the Phase I
infrastructure improvements are complete. Per the Improvement Agreement, the developer must
warrant that all improvements are free from defects in materials and workmanship for a period of 12
months, and warrant the improvments in the amount of ten -percent (10%) of the construction costs of
the required improvments. The maintenance bond amount is $335,844.00.
Release of the performance bond occurs when the performance bond is removed from the Clerk's safe
and sent to the developer. Prior to mailing the performance bond to the developer, the maintenance.
bond will be placed in the Clerk's safe.
FISCAL IMPLICATIONS:
None.
RECOMMENDATION & ACTION REQUESTED:
Board release of the Tetherow Phase I performance bond, and acceptance of the maintenance bonc.
ATTENDANCE: Anthony Raguine
DISTRIBUTION OF DOCUMENTS:
Anthony Raguine
Legal Counsel
51'G�
IfSCC13IC0
GROUP
INSCO INSURANCE SERVICES, INC.
Underwriting Manager for:
Developers Surety and Indemnity Company
Indemnity Company of California
177130 Fitch, Suite 200 • Irvine, California 92614 • (949) 263-3300
www.InscoDico.com
MAINTENANCE BOND
DRAFT COPY
BOND NO.: FOR COUNTY REVIEW
KNOW ALL MEN BY THESE PRESENTS:
THAT we, TD TETHEROW, LLC , as Principal,
and DEVELOPERS SURETY AND INDEMNITY COMPANY a corporation organized and doing business under
and by virtue of the laws of the State of IOWA and duly licensed to conduct surety
business in the State of OREGON , as Surety, are held and firmly bound unto
DESCHUTES COUNTY, OREGON
as Obligee, in the sum of SIX HUNDRED FIFTY-EIGHT T
NO/IOOrs********************************************** ******* ****************************
SA 1, TWO HUNDRED FORTY AND
($ 658,240.00********* ) Dollars, for which payment, well and
and successors, jointly and severally firmly by these prese
THE CONDITION OF THE OBLIGATION IS
made, - bind ourselves, our heirs, executors
WHEREAS, the above named Principal enter . 'Tf : ent or agreements with said Obligee to:
CONSTRUCT AND INSTALL CER
IMPROVEMENTS") FOR THE CA
REQUIRED IN THE CONDITIONS
CLUBHOUSE IMPROVEMENT AG
WHEREAS, said agreement provided that
IMPROVEMENTS (THE "GOLF CLUBHOUSE REQUIRED
L DS/TETHEROW DESTINATION RESORT (THE "RESORT"), AS
AL IN FILE NO. SP -07-02 (THE "SITE PLAN") AND THE GOLF
O. IA -07-9, DESCHUTES COUNTY DOCUMENT NO. 2007-384.
cipal shall guarantee replacement and repair of improvements as described
therein for a period of one year following final acceptance of said improvements;
NOW, THEREFORE, if the above Principal shall indemnify the Obligee for all loss that Obligee may sustain by reason
of any defective materials or workmanship which become apparent during the period of one year from and after acceptance
of the said improvements by Obligee, then this obligation shall be void; otherwise to remain in full force and effect.
PROVIDED, THIS BOND IS NOT SUBJECT TO CANCELLATION PURSUANT TO ORS 742366(2)
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name
of the said Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact
this 27TH day of OCTOBER , 2008
YEAR
TD TETHEROW, LLC DEVELOPERS SURETY AND INDEMNITY COMPANY
Principal
I0-1201(One Year Term) (REV. 5/01)
BY:
KEITH YAM, Attorney -in -Pact
Anthony Raguine
From: George Kolb
Sent: Tuesday, October 21, 2008 1:08 PM
To: Anthony Raguine
Cc: 'George Morris'
Subject: RE: Phase I Plat
Hello Anthony;
I have reviewed the attached Tetherow Phase I plat and after looking through my records and talking with the Engineer,
W&H Pacific, all improvements are complete and accepted by both the City of Bend and Deschutes County therefore yoi,
can start the maintenance bond process. Let me know if you need anything else from me. George
From: Anthony Raguine
Sent: Tuesday, October 21, 2008 10:52 AM
To: George Kolb
Cc: 'George Morris'
Subject: Phase I Plat
Hi George. Attached is the Phase I plat associated with the Phase I improvement agreement and bond. If you have
already inspected all of the roads and utilities associated with Phase I, I'll need a memo from you to initiate the
maintenance bond process. Let me know if you have any questions. Thanks.
Anthony Raguine, Senior Planner
Deschutes County Planning Division
Phone: (541) 617-4739
Fax: (541) 385-1764
«File: Tetherow Phase I.pdf»
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Deschutes County Board of Commissioners
1300 NW Wall St., Suite 200, Bend, OR 97701-1960
(541) 388-6570 - Fax (541) 385-3202 - www.deschutes.org
AGENDA REQUEST & STAFF REPORT
For Board Business Meeting of November 3, 2008
Please see directions for completing this document on the next page.
DATE: October 28, 2008
FROM: Anthony Raguine Community Development Department
617-4739
TITLE OF AGENDA ITEM:
Consideration and approval of the release of the Tetherow Golf Course and Facility Buildings
performance bond and acceptance of the maintenance bond.
PUBLIC HEARING ON THIS DATE? No.
BACKGROUND AND POLICY IMPLICATIONS:
On August 29, 2007, the Board approved Improvement Agreement IA -07-8 (document # 2007-385) for
the golf course and golf course facility buildings at the Tetherow Destination Resort, and accepted :he
associated performance bond. The Community Development Department has verified that the golf
course and associated facility buildings (restroom, restroom/pumphouse, maintenance building) are
complete. Per the Improvement Agreement, the developer must warrant that all improvements are free
from defects in materials and workmanship for a period of 12 months, and warrant the improvments in
the amount of ten -percent (10%) of the construction costs of the required improvments. The
maintenance bond amount is $204,290.00.
Release of the performance bond occurs when the performance bond is removed from the Clerk's safe
and sent to the developer. Prior to mailing the performance bond to the developer, the maintenance
bond will be placed in the Clerk's safe.
FISCAL IMPLICATIONS:
None.
RECOMMENDATION & ACTION REQUESTED:
Board release of the Tetherow Golf Course and Golf Course Facility Buildings performance bond. and
acceptance of the maintenance bond.
ATTENDANCE: Anthony Raguine
DISTRIBUTION OF DOCUMENTS:
Anthony Raguine
Legal Counsel
VHE
InSCCbcci
GR0LIP
INSCO INSURANCE SERVICES, INC.
Underwriting Manager for:
Developers Surety and Indemnity Company
Indemnity Company of California
17780 Fitch, Suite 200 • Irvine, Califomla 92614 • (949) 263-3300
www.InscoDico.com
MAINTENANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT we, TD TETHEROW, LLC
and DEVELOPERS SURETY AND INDEMNITY COMPANY
and by virtue of the laws of the State of IOWA
business in the State of OREGON
DESCHUTES COUNTY, OREGON
DRAFT COPY
BOND NO.: FOR COUNTY REVIEW
, as Principal,
, a corporation organized and doing business under
and duly licensed to conduct surety
, as Surety, are held and firmly bound unto
as Obligee, in the sum of TWO HUNDRED FOUR T TWO HUNDRED NINTY AND
Non OOlS***,rr,r,r,r,r,rrr,r,r,r+.******,t*n******,r*,rt*********** *+r**,t** ****************************
($ 204,290.00 ) Dollars, for which payment, well and
and successors, jointly and severally firmly by these prese s.
THE CONDITION OF THE OBLIGATION IS
WHEREAS, the above named Principal entere
CONSTRUCT AND INSTALL CERT
IMPROVEMENTS") FOR THE C
REQUIRED IN THE CONDITIONS
AND THE GOLF COURSE AND FAC
DOCUMENT NO. 2007-385.
WHEREAS, said agreement provided that cipal shall guarantee replacement and repair of improvements as described
therein for a period of one year following final acceptance of said improvements;
bind ourselves, our heirs, executors
ent or agreements with said Obligee to:
IMPR 1 VEMENTS (THE "GOLF COURSE REQUIRED
DS/TETHEROW DESTINATION RESORT (THE "RESORT"), AS
FILE NOS. SP -06-37, A-06-10 AND A-06-11 (THE "SITE PLAN")
PROVEMENT AGREEMENT NO. IA -07-8, DESCHUTES COUNTY
NOW, THEREFORE, if the above Principal shall indemnify the Obligee for all loss that Obligee may sustain by reason
of any defective materials or workmanship which become apparent during the period of one year from and after acceptance
of the said improvements by Obligee, then this obligation shall be void; otherwise to remain in full force and effect.
PROVIDED, THIS BOND IS NOT SUBJECT TO CANCELLATION PURSUANT TO ORS 742.366(2)
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name
of the said Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact
this 27TH day of OCTOBER , 2008
YEAR
1
TD TETHEROW, LLC DEVELOPERS SURETY AND INDEMNITY COMPANY
Principal
ID-1201(One Year Term) (REV. 5/01)
BY:
KEITH YAM, Attorncy-in-Fact
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Deschutes County Board of Commissioners
1300 NW Wall St., Suite 200, Bend, OR 97701-1960
(541) 388-6570 - Fax (541) 385-3202 - www.deschutes.org
AGENDA REQUEST & STAFF REPORT
For Board Business Meeting of November 3, 2008
Please see directions for completing this document on the next page.
DATE: October 28, 2008
FROM: Anthony Raguine Community Development Department
617-4739
TITLE OF AGENDA ITEM:
Consideration and approval of the release of the Tetherow Golf Course Clubhouse performance bond
and acceptance of the maintenance bond.
PUBLIC HEARING ON THIS DATE? No.
BACKGROUND AND POLICY IMPLICATIONS:
On August 29, 2007, the Board approved Improvement Agreement IA -07-9 (document # 2007-384) for
the golf course clubhouse at the Tetherow Destination Resort, and accepted the associated performance
bond. The Community Development Department has verified that the clubhouse is complete. Per °:he
Improvement Agreement, the developer must warrant that all improvements are free from defects h
materials and workmanship for a period of 12 months, and warrant the improvments in the amount of
ten -percent (10%) of the construction costs of the required improvments. The maintenance bond
amount is $658,240.00.
Release of the performance bond occurs when the performance bond is removed from the Clerk's safe
and sent to the developer. Prior to mailing the performance bond to the developer, the maintenance:
bond will be placed in the Clerk's safe.
FISCAL IMPLICATIONS:
None.
RECOMMENDATION & ACTION REQUESTED:
Board release of the Tetherow Clubhouse performance bond, and acceptance of the maintenance bond.
ATTENDANCE: Anthony Raguine
DISTRIBUTION OF DOCUMENTS:
Anthony Raguine
Legal Counsel
VFIL
InSC%ICO
GROUP
INSCO INSURANCE SERVICES, INC.
Underwriting Manager for:
Developers Surety and Indemnity Company
Indemnity Company of Califomia
17780 Fitch, Suite 200 • Irvine, Califomia 92614 • (949) 263-3300
www.inscoDico.com
MAINTENANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT we TD TETHEROW, LLC
and DEVELOPERS SURETY AND INDEMNITY COMPANY
and by virtue of the laws of the State of IOWA
business in the State of OREGON
DRAFT COPY
BOND NO.: FOR COUNTY REVIEW
> as Principal,
a corporation organized and doing business under
and duly licensed to conduct surety
, as Surety, are held and firmly bound unto
DESCHUTES COUNTY, OREGON
as Obligee, in the sum of ***********THREE HUNDRED THIR
FORTY-FOUR AND NO/100'S***************************
($ 335,844.00******** ) Dollars, for which payment, well and
and successors, jointly and severally firmly by these prese
THE CONDITION OF THE OBLIGATION IS
. ' HOUSAND, EIGHT HUNDRED
******* ****************************
WHEREAS. the above named Principal entere
CONSTRUCT AND INSTALL CERTA
IMPROVEMENTS") FOR THE CA
REQUIRED IN THE CONDITIONS
ROADS AND UTILITIES IMPROVE
2007-383.
WHEREAS, said agreement provided that cipal shall guarantee replacement and repair of improvements as described
therein for a period of one year following final acceptance of said improvements;
made, - bind ourselves, our heirs, executors
ent or agreements with said Obligee to:
IMPR 1 VEMENTS (THE "ROADS AND UTILITIES REQUIRED
S/TETHEROW DESTINATION RESORT (THE "RESORT"), AS
FILE NO TP -06-973 (THE "TENTATIVE PLAT") AND THE
EMENT NO. IA -07-7, DESCHUTES COUNTY DOCUMENT NO.
NOW, THEREFORE, if the above Principal shall indemnify the Obligee for all loss that Obligee may sustain by reason
of any defective materials or workrnanship which become apparent during the period of one year from and after acceptance
of the said improvements by Obligee, then this obligation shall be void; otherwise to remain in full force and effect.
PROVIDED, THIS BOND IS NOT SUBJECT TO CANCELLATION PURSUANT TO ORS 742,366(2)
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name
of the said Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact
this ..27TH
TD TETHEROW, LLC
day of OCTOBER , 2008
YEAR
Principal
t0-1201(One Year Term) (REV. 5/01)
DEVELOPERS SURETY AND INDEMNITY COMPANY
BY:
KEITH YAM, Attorney -in -Pact