HomeMy WebLinkAboutAdler Industrial Building ADA COUNTY RECORDER Phil McGrane 2022-013780
BOISEIDAHO Pgs=7 NIKOLA OLSON 02/08/2022 04:42 PM
CITY OF MERIDIAN, IDAHO NO FEE
City of Meridian
WARRANTY SURETY AGREEMENT
Adler Industrial Building No. 323, 324, 325
THIS WARRANTY SURETY AGREEMENT is made and entered into this 7th day of
February 20 22 by and between the CITY OF MERIDIAN, a Municipal Corporation,
hereinafter referredto yes CITY, and ADLER AB OWNER XIII, LEG, hereinafter referred to as
DEVELOPER.
WITNESSETH:
WHEREAS, DEVELOPER received approval from the CITY on November 04, 2021, oft e
construction plans ("Construction Plans"), for the development known as Adler Industrial
Building(s) No. 323, 324, 325 ("Subdivision Plat") located in the City of Meridian, is
Construction Plans include improvements for public life, safety and health ("Required Public
improvements") and improvements for non-life, non-safety and non-health improvements
("Required Development Improvements") (The Required Public Improvements and Required
Development Improvements may be collectively referred herein as"Improvements"); and
WHEREAS,DEVELOPER has posted performance surety with CITY to guarantee the completion
oft e Improvements; and,
WHEREAS, DEVELOPER has completed the installation of the Improvements; and
WHEREAS,the Unified Development Code oft e City of Meridian Section I I-5C-3 requires that
the DEVELOPER execute and file with the CITY an agreement providing for,among other things,
a warranty surety in the amount of twenty percent of the cost of improvements for a period of two
years; and
WHEREAS, the CITY is agreeable to acceptance of the improvements and release of the
performance surety upon the execution of this Agreement and compliance by the DEVELOPER
with the provisions oft e Unified Development Code of the City of Meridian.
NOW, THEREFORE, in consideration of foregoing mutual promises, covenants and agreements
of the parties, it is hereby agreed as follows:
1. The DEVELOPER agrees to correct, repair and maintain all such Required Public
Improvements from any defects, omissions or irregularities in the construction, materials
or work thereof fora period of two (2)calendar years from the date of written acceptance
of such Improvements.
WARRANTY SURETY AGREEMENT—Adler Industrial Building No.323—Page 1
2. Upon execution of this Agreement, the DEVELOPER shall notify the CITY of the
readiness for final inspection. Upon certification by the City Engineer that all requirements
of the CITY have been met and CITY formally accepts such Improvements in writing,the
following shall occur:
A. The DEVELOPER shall submit a written request to the CITY to release the
Performance Surety, including:
i. A statement from the DEVELOPER that the required Improvements are
complete and have been constructed in accordance with the City's
Requirements.
B. The DEVELOPER shall submit to the CITY a Warranty Surety in a form approved
by the CITY in the estimated sum of$20,076.80 to provide for correction of any
defective materials or workmanship in such Required Public Improvements for a
period of two (2)years after final acceptance, as defined in the City Public Works
Construction Code. The amount of such surety assurances is based upon 20% of
the contractor's itemized bid, as set forth on Exhibit "A" attached hereto and
incorporated herein, for the completion of the Required Public Improvements. At
the expiration of the two-year period, DEVELOPER shall submit a written request
to the CITY to release the Warranty Surety, along with a statement from the
DEVELOPER that the Required Public Improvements continue to meet City's
Requirements at the end of the two-year warranty period. After receiving such
request the CITY shall conduct an inspection of the Required Public Improvements
to determine if any defects are present. If there are no defects, CITY shall
release/return the Warranty Surety to DEVELOPER.
3. The CITY agrees to accept the Required Public Improvements and release the
performance surety upon certification by the City Engineer that all Required Public
Improvements have been constructed in accordance with the City's Requirements. Such
certification is not intended to relieve DEVELOPER or any contractor or material
supplier of their responsibility for any defects in materials or workmanship of such
Improvements.
4. In construing this Agreement, it is understood that either party may be more than one
person and if the context so requires, the singular pronoun shall be taken to mean and
include the plural, the masculine, and neuter, and that generally all grammatical changes
shall be made,assumed and implied to make the provisions hereof apply equally to a single
or several individuals.
WARRANTY SURETY AGREEMENT—Adler Industrial Building No.323—Page 2
IN WITNESS WHEREOF,the parties shall cause this Warranty Surety Agreement to be executed
by their duly authorized officers the day and year first above written.
ADLER AB OWNER XIII, LLC:
By:
Michael S.Adler, Manager
STATE OF IDAHO )
SS.
County of Ada )
On this "�`` day of r 20Z
�before me, the undersigned, a Notary
Public in and for the State of Idaho,personally appe ed Michael S.Adler,known or identified to me to be
the Manager, who executed this instrument on behalf of said Corporation, and acknowledged to me that
such(Corporation)executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and
year first above written.
01111111111///
�a41�Y Notary Public for Idaho ff
• $ My Commission Expires: O X
W COMMISSION
: EXPIRES&4-2027
WARRANTY SURETY AGREEMENT—Adler Industrial Building No.323—Page 3
CITY OF MERIDIAN:
Dated: 02/07/2022 By:
Bruce Freckletoi
Development Services Manager
Community Development Department
WARRANTY SURETY AGREEMENT—Adler Industrial Building No.323—Page 4
Maintenance
Bond
Warranty Term
In years
Bond Number 800081645
MAINTENANCE BOND
KNOW ALL BY THESE PRESENTS,That we, Adler Industrial,LLC
8665 W.Emerald St.,Ste.200 Boise ID 83704
as Principal,and Atlantic Specialty Insurance Company ,a corporation organized under the laws of the State
NY and duly authorized to do business in the State of, ID as Surety, are held and firmly bound
unto City of Meridian
as Obligee,in the penal sum of Twenty Thousand Seventy Six Dollars and 80/100
($_20,076.80 _ ),to which payment well and truly to be made we do bind ourselves,our and each of our
heirs,executors,administrators,successors and assigns jointly and severally,firmly by these presents.
WHEREAS,the said Principal entered into a Contract with the Obligee,dated the 29th day of November,
2021 , a copy of which is hereto attached and made a part hereof,for Adler Industrial Building No. 323.
Required Public Improvements.
NOW,THEREFORE,THE CONDITION OF THIS OBLIGATION IS SUCH,that if the Principal shall guarantee that
the work will be free of any defective materials or workmanship which become apparent during the period of
Two 2 ) year(s)following completion of the Contract then this obligation shall be void, otherwise to remain
in full force and effect, provided however, any additional warranty or guarantee whether expressed or implied is
extended by the Principal or Manufacturer only,and the Surety assumes no liability for such a guarantee.
Signed,sealed and dated this 29th day of November , 2021
PRINCIPAL
Adler Industrial, LLC
Bv' Seal
(Witness)
tlantic Specialty Insurance Company
B Sir -�
�Michequire (Witness) ,. e99 D f bug ,%�►fto iey-in-Fact
Intact .
1MiURi1NCiE 1 f.b q7 C1�(�"1Qf i!tcj,�J
KNOW ALL MEN BY THESE PRESENTS,that ATLANTIC SPECIALTY INSURANCE COMPANY,a New York corporation with its prircipai office in Plymouth,
ATinnesota,does hereby constitute and appoint Tina Fay Coleman,Elizabeth Stlhnefder,Michelle Squhy4 Philip S.Walter,Peggy Deffenbaugh,each individually if
there be morethan one named,its true and lawf d Attorney-in-Fact,to crake,execute,seal and deliver,for and-on its behalf as surely,any and all bonds,recognizances,contracts
of indemnity,and all other writings obligatory In the nature thereof;provided that no bond or undertaking executed under this authority shall exceed in amount the sum of
unlimited and the execution of such bonds,recognizances,contracts of indemnity,and all other writings obligatory In the nature thereof in pursuance of these presents,shall be
as binding upon said Company as if they had been fully signed by an authorized officer of the Company and sealed with the Company seal. This Power of Attorney is made and
executed by authority of the following resolutions adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of
September,2012:
Resolved: That the President,any Senior Vice President or Vice-President(each an"Authorized Officer')may execute for and in behalf of the Company any and
all bonds,recognizances,contracts of indemnity,and all other writings obligatory in the nature thereof,and affix the seal of the Company thereto;and that the
Authorized Officer may appoint and authorize an Attorney-in-Fact to execute oa behalf of the Company any and all such Instruments and to affix the Company
seal thereto;and that the Authorized Officer may at any time remove any such Attorney-in-Fact and revoke all power and authority given to any such Attorney-in-
Fact.
Resolved:That the Attorney-la-Fact may be given full power and authority to execute for and In the name and on behalf of the Company any and all bonds,
recognizances,contracts of indemnity,and all other writings obligatory in the nature thereof,and any such Instrument executed by any such Attorney-in-Fact shall
be as binding upon the Company as if signed and sealed by an Authorized Officer and,further,the Attorney-In-Fact is hereby authorized to verify any affidavit
required to be attached to bonds,recognizances,contracts of indemnity,and all other writings obligatory in the nature thereof.
This power of attorney is signed and sealed by factalk under the authority of the following Resolution adopted by the Board of Directors of ATLANTIC SPECIALTY
INSURANCE COMPANY on the twenty-fifth day of September,2012:
Resolved: That the signature of an Authorized Officer,the signature of the Secretary or the Assistant Secretary,and the Company seal may be affixed by
facsimile to any power of attorney or to any certificate relating thereto appointing an Attnmey-In-Fact for purposes only of executing and sealing any bond,
undertaking,recognizance or other written obligation in the nature thereof,and any such
as the original signature of such officer and the original seal of the Company,to b � and seal where so used,being hereby adopted a the Company
manually affixed e valid and binding-upon the Company with the same force and effect as though
IN WITNESS WHEREOF,ATLANTIC SPECIALTY INSURANCE COMPANY has caused these presents to be signed by an Authorized Officer and the seal of the Company
to be affixed this twenty-severtr day of April,2020.
�1M>hb,f„ry4�
Waft.,
1986 ?n By
STATE OF
HENNEPIN COUNTYSOTA J.j ¢a
'c�, Paul Brehm,Senior Vice President
�"9ruff�uYN��+�
On this twenty-seventh day of April,2020,before me personally came Paul J.Brehm,Senior Vice President of ATLANTIC SPECIALTY INSURANCE COMPANY,to me
personally known to be the individual and officer described in and who executed the preceding instrument,and he acknowledged the execution of the same,and being by me
dully swora,that he is the said officer of the Company aforesaid,and that the seal affixed to the preceding fnstn>ment is the seal of said Company and that the said seal and the
signature as such officer was duly affixed and subscribed to the said instrument by the authority and at the direction of the Company.
0=ALISDNDWANROUTA4��
ESOTA 1xpiras26 Notary Public
1,the undersigned,Secretary of ATLANTIC S CL46LTY INSURANCE COMPANY,a New York Corporation,do hereby certify that the foregoing power of attorney is in full
force and has not been revoked, s orth above are now to force.
Signed and sealed. Date day o
^�IIMNeryyb
abu�pAPOR,ip LN
Ems+ GSEAL� m
i986 'o
This Power of Attorney expires 's, 4F 4 •'i'y
January 31,2025 +w1
4j^rwu nalA�ll Kara Barrow,.Secretary
Please direct bond verifications to SOlstyQnIxain%uUZCC •om
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