Agenda 10/12/2021 Item #16A 3 (Palazzo at Naples))10/12/2021
EXECUTIVE SUMMARY
Recommendation to approve a Resolution for final acceptance of the private roadway and drainage
improvements for the final plat of Palazzo at Naples, Application Number PL20130002119,
acceptance of County maintenance responsibilities for all sidewalk easements (SW.E.) of Palazzo at
Naples, and authorizing the release of the maintenance security.
OBJECTIVE: To have the Board of County Commissioners ("Board") grant final acceptance of the
infrastructure improvements associated with the subdivision, accept County maintenance responsibility
for all sidewalk easements, and release the maintenance security.
CONSIDERATIONS:
1) On June 2, 2015, the Growth Management Department granted preliminary acceptance of the
roadway and drainage improvements in Palazzo at Naples.
2) The roadway and drainage improvements, except for all sidewalk easements (SW.E.), will be
maintained by the project’s Master Association. All sidewalk easements (SW.E.) were dedicated
to the County, with the responsibility for maintenance, in plat dedication paragraph A.2, Palazzo
at Naples, according to the plat thereof recorded in Plat Book 57, Pages 35-39, of the public
records of Collier County. The County will accept maintenance responsibility of all sidewalk
easements (SW.E.) for maintenance purposes.
3) The required improvements have been constructed in accordance with the Land Development
Code. The Growth Management Department has inspected the improvements on August 17,
2021 and is recommending final acceptance of the improvements.
4) A resolution for final acceptance has been prepared by staff and approved by the County
Attorney's Office. The resolution is a requirement of Section 10.02.05 C of the Land
Development Code. A copy of the document is attached.
FISCAL IMPACT: The roadway and drainage improvements (except for all sidewalk easements
(SW.E.)) will be maintained by the project’s Master Association. Maintenance costs for all sidewalk
easements will be from the Transportation Services Operations and Maintenance budget. The existing
security in the amount of $213,263.95 will be released upon Board approval. The original security in the
amount of $1,801,678.45 has been reduced to the current amount of $213,263.95 based on the work
performed and completed and pursuant to the terms of the Construction and Maintenance Agreement
dated October 6, 2014.
GROWTH MANAGEMENT IMPACT: There is no growth management impact.
LEGAL CONSIDERATIONS: This item has been approved as to form and legality, and requires a
majority vote for Board approval. - DDP
RECOMMENDATION: To grant final acceptance of the roadway and drainage improvements in
Palazzo at Naples, Application Number PL20130002119, accept the maintenance responsibility for all
sidewalk easements (SW.E.), and authorize:
1. The Chairman to execute the attached resolution authorizing final acceptance of the
improvements.
2. The Clerk of Courts to release the maintenance security.
Prepared By: Lucia S. Martin, Associate Project Manager, Development Review
16.A.3
Packet Pg. 440
10/12/2021
ATTACHMENT(S)
1. Location Map (PDF)
2. Bond Basis (PDF)
3. Resolution (PDF)
4. Plat Map (PDF)
16.A.3
Packet Pg. 441
10/12/2021
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.A.3
Doc ID: 19898
Item Summary: Recommendation to approve a Resolution for final acceptance of the private
roadway and drainage improvements for the final plat of Palazzo at Naples, Application Number
PL20130002119, acceptance of County maintenance responsibilities for all sidewalk easements (SW.E.)
of Palazzo at Naples, and authorizing the release of the maintenance security.
Meeting Date: 10/12/2021
Prepared by:
Title: Technician – Growth Management Development Review
Name: Lucia Martin
08/31/2021 8:14 AM
Submitted by:
Title: Environmental Specialist – Growth Management Department
Name: Jaime Cook
08/31/2021 8:14 AM
Approved By:
Review:
Growth Management Operations & Regulatory Management Kenneth Kovensky Additional Reviewer Completed 08/31/2021 9:42 AM
Growth Management Department Lissett DeLaRosa Growth Management Department Completed 08/31/2021 2:57 PM
Growth Management Development Review Brett Rosenblum Additional Reviewer Completed 09/01/2021 3:12 PM
Growth Management Department Jaime Cook Additional Reviewer Completed 09/10/2021 8:36 AM
Engineering & Natural Resources Diane Lynch Additional Reviewer Skipped 09/21/2021 12:27 PM
Growth Management Department Jeanne Marcella Transportation Skipped 09/21/2021 3:35 PM
Growth Management Department James C French Growth Management Completed 09/22/2021 10:11 PM
County Attorney's Office Derek D. Perry Level 2 Attorney Review Completed 09/28/2021 1:44 PM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 09/28/2021 2:56 PM
Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review Completed 09/28/2021 3:25 PM
Office of Management and Budget Laura Zautcke Additional Reviewer Completed 09/29/2021 8:55 AM
County Manager's Office Geoffrey Willig Level 4 County Manager Review Completed 09/29/2021 4:57 PM
Board of County Commissioners Geoffrey Willig Meeting Pending 10/12/2021 9:00 AM
16.A.3
Packet Pg. 442
PALAZZO AT NAPLES
LOCATION MAP
16.A.3.a
Packet Pg. 443 Attachment: Location Map (19898 : Final Acceptance - Palazzo at Naples)
CONSTRUCTION AND MAINTENANCE AGREEMENT FOR SUBDIVISION
IMPROVEMENTS
THIS CONSTRUCTION AND MAINTENANCE AGREEMENT FOR SUBDIVISION IMPROVEMENTS
entered into this 6 day of October 20 _14 _________ _
between Toll FL Ill Limited Partnership hereinafter referred to as "Developer," and the Board of County
Commissioners of Collier County, Florida, hereinafter referred to as the "Board.
RECITALS:
A.Developer has, simultaneously with the delivery of this Agreement, applied for the approval by
the Board of a certain plat of a subdivision to be known as: -�,�t..A 2.tc, A. i U A...? 1-t...�
B.Chapters 4 and 10 of the Collier County Land Development Code requires the Developer to post
appropriate guarantees for the construction of the improvements required by said subdivision
regulations, said guarantees to be incorporated in a bonded agreement for the construction of
the required improvements.
NOW, THEREFORE, in consideration of the foregoing premises and mutual covenants hereinafter set
forth, Developer and the Board do hereby covenant and agree as follows:
1.Developer will cause to be constructed: Roadway, drainage, water & sewer Improvements
within 24 months from the date of approval said subdivision plat, said improvements
hereinafter referred to as the required improvements.
2.Developer herewith tenders its subdivision performance security (attached hereto as Exhibit "A"
and by reference made a part hereof) in the amount of$ 1,801,678.45 which amount
represents 10% of the total contract cost to complete construction plus 100% of the estimate
cost of to complete the required improvements at the date of this Agreement.
3.In the event of default by the Developer or failure of the Developer to complete such
improvements within the time required by the Land Development Code, Collier County, may call
upon the subdivision performance security to insure satisfactory completion of the required
improvements.
4.The required improvements shall not be considered complete until a statement of substantial
completion by Developer's engineer along with the final project records have been furnished to
be reviewed and approved by the County Manager or his designee for compliance with the
Collier County Land Development Code.
5.The County Manager or his designee shall, within sixty (60) days of receipt of the statement of
substantial completion, either: a) notify the Developer in writing of his preliminary approval of
the improvements; or b) notify the Developer in writing of his refusal to approve improvements,
therewith specifying those conditions which the Developer must fulfill in order to obtain the
16.A.3.b
Packet Pg. 444 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
16.A.3.b
Packet Pg. 445 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
16.A.3.b
Packet Pg. 446 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
PERFORMANCE BOND
KNOW ALL PERSONS BY THESE PRESENTS: that
Toll FL Ill Limited Partnership
250 Gibraltar Road
Horsham, PA 19044
BOND NO. _8 _23_8 _35_6 _o ___ _
(Name of Owner)
(Address of Owner)
(Address of Owner)
(Hereinafter referred to as "Owner") and
Federal Insurance Company (Name of Surety)
(Address of Surety)
(Address of Surety)
(Telephone Number)
1600 JFK Boulevard
Philadelphia, PA 19103
251-981-8211
(hereinafter referred to as "Surety") are held and firmly bound unto Collier County, Florida, (hereinafter
referred to as "County") in the total aggregate sum of OneM;llionEighlHundredOneSixHundredSevontyEightand45/100 Dollars
($ 1 .ao1 .678 .45 ) in lawful money of the United States, for the payment of which sum well and truly
to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and
severally, firmly by these presents. Owner and Surety are used for singular or plural, as the context
requires.
THE CONDITION OF THIS OBLIGATION is such that whereas, the Owner has submitted for approval by
the Board of a certain subdivision plat named Palazzo at Naples and that
certain subdivision shall include specific improvements which are required by Collier County Ordinances
and Resolutions (hereinafter "Land Development Regulations"). This obligation of the Surety shall
commence on the date this Bond is executed and shall continue until the date of final acceptance by the
Board of County Commissioners of the specific improvements described in the Land Development
Regulations (hereinafter the "Guaranty Period").
NOW THEREFORE, if the Owner shall well, truly and faithfully perform its obligations and duties
in accordance with the Land Development Regulations during the guaranty period established by the
County, and the Owner shall satisfy all claims and demands incurred and shall fully indemnify and save
harmless the County from and against all costs and damages which it may suffer by reason of owner's
failure to do so, and shall reimburse and repay the County all outlay and expense which the County may
incur in making good any default, then this obligation shall be void, otherwise to remain in full force and
effect.
PROVIDED, FURTHER, that the said Surety, for value received hereby, stipulates and agrees that
no change, extension of time, alteration, addition or deletion to the proposed specific improvements
shall in any way affect its obligation on this Bond, and it does hereby waive notice of any such change,
extension of time, alteration, addition or deletion to the proposed specific improvements.
PROVIDED, FURTHER, that it is expressly agreed that the Bond shall be deemed amended
automatically and immediately, without formal and separate amendments hereto, so as to bind the
A
16.A.3.b
Packet Pg. 447 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
16.A.3.b
Packet Pg. 448 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
16.A.3.b
Packet Pg. 449 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
16.A.3.b
Packet Pg. 450 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
Cantn*y
Groi/h M anagenent Deparfnent
Development ReMsl Divbion
Federal Insurance Company
1600 JFK Boulevard
Philadelphia, PA. 19103
RE: Performance Bond No. 82383560 / Toll Brothers
Palazzo at Naples
Dear Sir or Madam:
Please be advised that based on the work completed and inspected to date, the subject
Performance Bond may now be reduced by $1,548,919.50, leaving an available surety of
$252,758.95. The remaining suety represents $88,970.00 in uncompleted improvements, plus
the l0o% maintenance security of$163,788.95.
An original Bond Rider should be submitted to this office reducing the value of the security, all
other terms and conditions of the original Performance Bond to remain in full force and effect".
If I can be ofany further assistance to you in this regard, please let me know.
Sincerely,
loHN HOUOSVUORTH
John R. Houldsworth
Senior Site Plans Reviewer
With authority in these matlers
Cc: Daniel Flynn, PE, Grady Minor & Associates
oe'/€bfn€rt Review oii$n . 2&n N(rh Hqse+rce Dive . tbCes, ffi 31101 .2*?5.2-240 . f,f,w.cohrlwnd
August 26, 2015
16.A.3.b
Packet Pg. 451 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
Decrease PBNALTY RIDER
BOND NO.82383560
To be attached and form a part of Bond No.82383560 dated the 29th day of September,NU,
executed by Federal Insurance Companv as surety, on behalf of Toll FL Ill. Limited Partnership
as current principal of record, and in favor of Collier Countv, as Obligee, and in the amount of
One Million Eisht Hundred One Thousand Six Hundred Seventv Eieht Dollars and 45/l 00
GLEALOTE4$.
In consideration ofthe agreed premium charged for this bond, it is understood and agreed that
Federal lnsurance eompany hereby consents that effective from the 26th day of Ausust, 2015, said
bond shall be amended as follows:
THE BOND PENALTY SHALL BE Decreased:
FROM: One Milligl Eisht Hundred One Thousand Six Hundred Seventy Eight Dollars and 45/100
G1S!!_.678.4s)
TO: Two Hund
G25e7_sr.95)
The Decrease ofsard bond penalty shall be effective as ofthe 26th day of August,20l5, and does
hereby agree that the continuity ofprotection under said bond subject to changes in penalty shall
not be impaired hereby, provided that the aggregate liability of the above mentioned bond shall not
exceed the amount of liability assumed by it at the time the act and/or acts of default were
committed and in no event shall such liability be cumulative.
Signed, sealed and dated this 28th day of Ausust, 2015.
PRII{CIPAL
Federal lnsurance Company
SL]RETY
BY:
Dunigan,IN-FACT
16.A.3.b
Packet Pg. 452 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
t,
ACKNOWLEDGEMENT OF PRINCIPAL(S)
STATE OF fb,ia'
COUNry OF
Ghaloc Askrrco
Pil^ R";',
Notary Public in and for the State and County
Aforesaid, do hereby certify that
DOI..!AI-D F, B4qNES
Whose name is signed to the foregoing bond, this day did personally appear
Before me in my State a
Given under my hand th
My commission expires:
nd ack owled ged the same
ry Public
ACKNOWLEDGEMENT OF CORPORATE SUREIY(S)
STATE OF PA
COUNryOF CHE ER
Arlene Ostroff Notary Public in and for the State and
County aforesaid, do hereby certify that Daniel P. Dunioan
Attorney-in-Fact for the Federal lnsurance Com panv
Whose name is signed to the foregoing bond, this day personally appeared
before me ln my State and County aforesaid and acknowledged the same.
Given under my hand this 28 th day of Auqust.15
My commission exp tes. 1210312016
Notary Public
an
IS
t,
e#CHARLENE ANDERSON
MY COMMISSION I EE22]9I]
EXPIRES: Sqlanb€' 26, 2016
6
*oTARrAt SE t
OF PENI{tYLVA,{|A
of
qlxf rv
Commission
Wllisb r
ARI,ENE tuHc
ClEster
Dooernbor
16.A.3.b
Packet Pg. 453 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
re Chubb
Surety
POWER
OF
ATTORNEY
Federal fnsurance Company
Vigilant Insurance Company
Pacific tndemnity Company
Attn: Surety Department
15 Mountain View Road
Warren, NJ 07059
[19[l!!, by. rhe.:e . Presents, That FEDERAL .INSURANCE COMPANY, an lndiaRa corporation, vtGtLANT ,NSURANCECOMPANY, a New York mrr,oration, and PACIFIC INDEMNITY COMPANY. a Wisconsin corooraiion. do each herebv constitute and
l,ppoi'lt Bri?n C,,Block, Richard J. Decker, Daniet P. Dunigan, James L. Hahn, Jc*eph W. fotot, Jr., aha Witliam f.srmxrss oI l,aolt, l,ennsytvanta----
and on their beha{ as surev
couGe of business, and ary
each ereoled and att€sled
lct{,.E,B
elch as their true and laMul Attorney- in- Facl lo exeorte under suci designation in tlEir nanes and to affix thei. corporrte seats to and .teriver tor
lhe€oo or othemise, bonds and unrerlakings ard other wril,ngs obligalory in the nature lheleof (other than bail bonds) giver or execrited in $le
instruments amending ot alterjng rhe serfie, aoc, cDnserrts to lhe modif4atbn or alleralion ot any instsumenl refenEd 10 in $id bonds or obligatjons.
h wrtness lYlereof, said FEDERAT ltlsuRAllcE coMPdl{Y, VTGTLANT rNsuRANcE coMpAtty, and pactFtc |NDEMNITy coMpAt{y have
these presents and arfixed thejr co'porate seah on this 7'' dayof JUly,20'14-
(-
@ffi@
STATE OF NEW JERSEY
County ot Sornersd
on t s 7fr day of JUly' 2014 before rne, a Notary Public of NBl, Jersey, personally came noa M. Hawkins, 10 n€ kno*n lo be Assistant Sedetary of FEDERAL
INSURANCE COMPAI{Y, VIGIIAMT INSURANCE GCft4PAt'IY, and PACIFIC INDEMNITY COMPANY,Ihe companieswhich exeoJted the foregoing power ofAttomey, and t\€
said'lina M. Hawkins, being by me dulyswom, did depose and say lhat she is Assistani SeoBtary ol FEDERAL TNSURANCE COITPANY, VIcILANI [.ISURANCE COMPANY,
and PACIFIC INDEMNITY COMPAIIY aod knows the corrDrate seals tiereol trEt lhe seals aftxed tD lhe foregoing Power of Attome, ale suci corporate seats and werethe€b ar0ed by authority ot lJle By- Laws of said Companies; and that sh€ signed sajd pou€r o, Attorney as Assistant Secretar of said Companies by tike authoriv and Slat
she is acquainted wjlh Devid B- Nonis, Jr., and kno\ivs him tE be Mce President of sad Companks: a t that tne signature ot Oavid B. Nonis, Jr., subscribed to said power of
Atlorney as in the genuine handvltriling of David B. Nonis. J... and was lheeto subGcrled by aut\ority of saU By- Lal,ls and iR deponent's prEs€rrce.
Notadal Se3l
KATHERINE J. ADEI AAR
NOTARY PUBLIC OF NEV, JERSEy
No.2315685
Cqrimlssloo Expires Juty r6, 2O1g
CERTIFICATION
EXt'Ad jTOM IhE BY. LABS OTFEDERAL INSUfui,NCE COMPANY, VIGILANT INSURANCE COMPAI{1. ANd PACIFIC INDEMNITY COMPANY:
iql poweE of atlofiey fo. and on behalf of lhe Company may and shatl be executed in ttE name and on behalf of the Company. either by the Chairman or the
President or a vtce Presidmt or an Assistant Mce Prcsident. ,oifirv with lhe Secreiary or an Alsistant Sesetary urde'r their respective designations. The
signaturE of such olficers nEy be engraved. pdrned o. lifiographed. me signature of each of $e follo$/ing offc€rs: Cheirman, Presideit. any Vice president any
Assastant Mce Presidenl any secretary. arry Assistant Seqetary and the seal of the Company may be affixed by facsimite to aoy pqr.er of attomey or trc ary
certifcale relating lheteto appointing Assistad Sec.etaies or Atlomeys- in- Fact for purposes only of execrring ard altesti0g bonds and undenakings aod oth€r
ffilings obliQatory in lhe nature theeol, and afty sutfi povrer ol attomey or certifrcale tEaring such fcsimile signatre o. facsimite seal shatt be vatid and binding
upon the Company ard arry $ch PotDer so exeorted and ceditied by suci facsimile signature and tacsimite seit shafl be ratid and binding upofl the C,ompany
wl|h respecl to any bond or undertaking to \^fiidl it is athcied.'
I' Taa M. Hawkins, AssistEnt Secretary of FEDE|AL INSUMNGE COMPANY. VIGILAMT INSURANCE COMPANY. and pACtFtC tNDEMNtTy COMPANY ($le.Companies)do hereby cediry that
O the toregDing exlra.t ol the By- l.aws of the Companies ls tru. and c.ne<l,(ji) fie Compahies ate duv lbensed and aulhorized to trarEad surEty busin€ss in all 50 of the United States ot ArDerka and Sle Distrid of cotumbia and are
aubotized by f|e U.S. TGasry Depertmert furher. Federal and vigilant are licensed in 0re U.S. Virgin tslands, and Fedierat is licens€rt in American
Sa,Doa, Guam. Puerto Rico, and each of tie provinces of Canada ercept prince Ed€rd tsland; and(iii) the foregoing Power ofAtirmey is true, conect and in tufl force and efe.t:
Given under rny hand and seals otsaid Companies Etwanen, NJ this 28TH DAY 0F AUGUST, 2015
Nolary Public
@ffi@
TAF Y
PUBL
Fm1t1GOZ58-U GEN CONSEMI (rB. o?r4)
'iina Seqetary
IN THE EVEi{I YOU yl,ls|,] TO NOTIFY US OF A CI-AIM. VERIFY THE AUI}IENTICI-|Y OF THIS BOND OR NOTIFY US OF ANY OTHER MATTER PLEASE CONIACT US AT ADORESS
4,1s3 9C+
(*-r^*
16.A.3.b
Packet Pg. 454 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
FEDERAL INSURANCE COMPANY
STATEMENT OF ASSETS, LIABILITIES AND SURPLUS TO POLICYHOLDEHS
Statutory Basis
DECEMBER 31,2014
(in thousands of dollars)
--LIABILITIES
AND
SURPLUS TO POLICYHOLDERSASSEIS
Cash and Short Term lnvestments......
United States Government, State and
Municipal Bonds.....
Other Bonds............
S1ocks.......,.............
Other lnvested Assets.........................
TOTAL INVESTMENTS .
lnvestments in Affiliates:
Chubb lnvestment Holdings, 1nc................
Pacific lndemnity Company........................
Executive Risk lndemnity ln c................. .....
Chubb lnsurance lnvestment Holdings Ltd....
CC Canada Holdings Lt d................ ............
Chubb lnsurance Company of Australia Ltd
Great Northern lnsurance Company ..........
Vigilant lnsurance Company.......................
Chubb European lnvestment Holdings SLP..
Other Afl iliates........
Premiums Receivable ... .... .............
Other Assets ...........
TOTAL ADMITTED ASSETS
Outstanding I osses and Loss Expenses..... $
Uoearned Premiums
Ceded Reinsurance Premiums Payable...-...
Provision {or 8einsurance............................
Other Liabilrties...
17,715,O51 TOTAL LIABILITIES
$ 110,484 12,181,139
3,654,861
339,466
46,470
1,434,018
17,655,954
20,980
3,106,809
1 1,700,594
. $ 32,484,337
10,245,402
4,527,443
1,066,355
1,365,367
3,565,038
2,922,214
1,258,019
1,162,709
652,880
480,068
476,969
292,313
287,633
517,330
1,679,148
1 ,47 4,965
$ 32,484,337
Capital Stock....-...
Paid-ln Surplus.....
Unassigned Funds
TOTAI I IABILITIES AND SURPLUS
TO POLrCyHOLDERS...................
lnvestments are valued in accordance with requirements of the National Association of lnsurance Commissioners.
At December 31, 2014, investments with a carrying value of $518,199,884 were deposited with government authorities
as required by law.
Yvonne Baker, Assistant Secretary
being duly sworn, deposes and says that the foregoing Statement of Assets,
Federal lnsurance Company on December 3l, 2014 is true and correct and is
Company as flled with the Secretary of the Treasury of the United States for t
Subscribed and sworn to before me
this March 11, 2015.
of the Federal lnsurance Company
Liabilities and Surplus to Policyholders of said
a true abstract of the Annual Statement of said
he '12 months ending December 31, 20'14.
a,*,-
Assistant Secretarv
Notary Public
JEANETTE SHJPSEY
Notary Public, State of New York
No.02SH5074142
Qual ifled in Nassa ll Co ll nty
Com mtssto March l 0 201 9
Fom 1 5,1O-@ 1 34 (Bev 3/1 5
SURPLUSTOPOLICYHOLDEBS,..,..,.,,.,.. 14,828,383
State, County & City of New York, - ss:
16.A.3.b
Packet Pg. 455 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
Grol/tfi Management Deparfnent
Development Revienry Divsion
September 6, 2018
Federal Insurance Company
1600 JFK Boulevard
Philadelphia, PA. 19103
RE: Performance Bond No. 82383560 / Toll Brothers
Palqzzo at Naples PL201300021l9
Dear Sir or Madam:
Please be advised that based on the work completed and inspccted ro date, the subject
Performance Bond may now be reduced by $39,495, leaving an available surety of$213,263.95.
The rcmaining sur€ty represents $49,475 in uncompleted improvements, plus the l0%
maintenance security of $ 163,788.95.
An original Bond Rider shodld be submitted to this oflice rcducing the value of the security, all
other terms and conditions of the original Performance Bond to remain in full force and effect".
Ifl can be ofany further assistance to you in this regard. please let me know.
Sincerely,
JOHN HOUAS41ORIH
Cc: Daniel Flynn, PE, Grady Minor & Associates
John R. Houldsworth
Senior Site Plans Reviewer
Wilh authority in these matters
DqrbFnqf Rrri h-r.& olrtiotsn0ic. lt*., ffi gfof .?g252{/0.Bvtokg-ra
16.A.3.b
Packet Pg. 456 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
Decrease PENALTY RIDER
ln consideration ofthe agreed premium charged for this bond, it is understood
and agreed that Federal Insurance Company hereby consents that effective from
the 29th day of September,20l8, said bond shall be amended as follows:
THE BOND PENALTY SHALL BE Decreased:
FROM: Two Hundred Fiftv Two Thousand Seven Hundred Fiftv Eisht
Dollars and 95/100 (s252.7sn.95)
TO: Two Hundred Thirteen Thousand Two Hundred Six h' Three Dollars
and 95/100 G211263.5)
The Decrease ofsaid bond penalty shall be effective as ofthe 29th day of
Sente mber, 2018, and does hereby agree that the continuity of protection under
said bond subject to changes in penalty shall not be impaired hereby, providetl
that the aggregate liability of the above mentioned bond shall not exceed the
amount of liability assumed by it at the time the act and/or acts of default were
committed and in no event shall such liability bc cumulative.
Signed, sealed and dated this llth day ofSeptembcr,20l8.
'Ioll FL lll, Limited Partne rsh i rl
PRINCIPAL
BY:
SURETY
IIY:
D A e unigan, ATTORNEY-IN-FACT
BOND NO.82383560
To be attached and form a part of Bond No. 82383560 dated the 29th day of
September,20l4, executed by Federal Insurance Companv as surety, on behalfof
Toll FL III. Limited Partnershin as current principal of record, and in favor of
Collier Countv, as Obligee, and in the amount of Two Hundred Fiftv Two
Thousand Seven Hundred Fiftv Eisht Dollars and 95/100 ($252J5&9O.
Federal Insurance Comlranv
16.A.3.b
Packet Pg. 457 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
EHUEEI'
Po$rer of Attorney
Federal Insurance Company lVigilant tnsumnce Company I Pacific Indemnity Company
I(trow A[ by Th€.€ lt€.€rts. That FEDERAL INSI RANCts mMP NY, an lndiana corrDnrion. VIGnANT INSITRANCE COMPAi{Y. a New Iork corporarion. and PACIFIC
INDBMMrY COMPANY, a wl{onsin corporation, do each hereby consdrute and appoint Brian C. Block, Richard J. Decker, Daniel P. Dunigan, James L. Hahn,
Surrxrn. e}.r-o .ef 4**n*,--
llo,n ll (:hl r( \ l{i{int :sr(t:r }..slq,h( ll llrL,t. \ l(t nf(id(rlr
rhereon or o(her$ise. bonds and undertaklngs and o(her *rirings obliFror in rhe narure rhereof (orher than bail bonds) given or execured in rhe cours€ of business, and any
instrumen6 amending or altering the same, and conrnrs ro the modification or akeration of any instrument referred to in said bonds or obligations.
ln wltlress Whereo[ sald FEDERAL ffSURANCI COMPANY, UCIIANI INSUR NCB COMPANY. and PAOFIC n{DEMMTY COMP NY have each exe(ured and afiesred rh€se
presenti and amx€d rheir corpomre seals on rhis l,l. day of^ogus! 2Or8.
STATIJOFN!]\!IERS'
Counr) olHunterdon
on thjs r4' day of Augrrsf 2018. b€fore me, a Notary Public of New Jers€x p€rsonally came Dawn M. chloms, ro me kno$n ro be Assisranr Secrerary of FEDERAL INSURANCE
COMPANY. VIGILANT INSURANC8 COMPANY, and PACIfIC INDEmIITY COMtAI\ry, the companles wh,ch executed the foregolng Power ol Ar(omey. and the said Dawn M.
Chloros. being by me duly s$om, did depose and sa) that she is .Assistan Secretary of FmERAI INSURA|\CE CO:llPAl\Y. VICILA\T I)iSLTRANCE COIVPtr\', and PACIFIC
INDEMNITY COMPA\ry and knows rhe corporate seals thereof. that rhe seah amxed ro rhe foregoing Power of Anomey are such corporate seals and were therero amxed by
authority of said Companies; and that she slSned said Power of Attomey as Asslstant s€cretary of said Companies by like authorityr and that she ls acquainted with Srephen M.
Hane). and knows him m tie vice President ofsaid Companies: and th3t the signaure ofsrephen M.llaney, sub6criH ro said Power otArromey is in lhe SEnuine handwritinS of
Srephen M. Haney. and was therao sut scribed by authoriry ofsaid Companies and in depo.en(s presence
\olltrirlSeal l(AlNERhE J OELTTAtoTllt A.lE e t!\t aElYxo.,alGC6!5E aDrn..I, tq 2ota
CBRTIF!CATION
Resolutlons adopted by the Boards ofDirectoN of FEDERAL INSURANCE CoMPAM, VIGILANT INSURANCE COMPANY. and PAC|F|C INDEMNTTY COMPAtfl on AuSust 30, 2ot6:
eDrered into lr the ordlEry ours. ofhsiness (eeh a -Wriflen Comm,nR a):
(l) &chottheCh.lrminthePreslde.ndtheVk€PrsidentsoftheCompenybheEbyaurhGizedtoexeteanyWrlnenComioEn.fcandonbehalolrheCompany,liderth.
sl of the CorrEny d ods,be
orlEN'b€, to tlE exleit that su.h a.ton ls alrhodu d by the 8En( ofpoee6 pro{i&d tor ln srch ,eMt *rinm appolnrnenr 6 tuh anorncy,trhcr.
(3) t .h of d'e ChaimD, th€ Prdid€it.nd the vir Pr6id.nts of theCompdnyhh.retyaurhortrd,fo.ando beh.foarleCo,npany,toappoinrlnrririE any peen rhe enqEy
infa( of (he Company eith tull postr andauthortuytoexmrc. for .nd on belBlfofrhe Company. under rlE Hl otthe Coopqny or ottE t*, such Wnft€n Coomtments ofrhe
C.mpany $ my be spe.ifed ln suh srltten apgol.tmat whkh sp<tnciriotr niy be by g6eEl r}Te or .hs of wnnfi ConmirlEn6 or by spedflat]on of orc or mrc pantohr
wnftencd nttrrElr
comlEny the audDnry to exdle fd aid on b.h.f o{ tlE Compa.y. under tlE Comp y! ed or o.h€rwte. such wrinenconn tmntsofth. CodpanyaslBsp.cifiej in su(h
wdren d€l."adon. which sF.lfiadon niay be b, g6€El qFor .lasot w.iren Conmitmn6 or by sp..lfiotun ofoE or mre p.nt dd Wrinen comnitmn(s
(5) fteslSEture otany ofrq or other pe6on ex@rtn8any Wnnen coftmlmetu oraprDinrment o.delegado, puNa to ftis Reludon..nd rhe seat ofthe Conpany. my be al[rert by
taGinlle on sEh wrlrcn Commhretu or Minen .protnmEnr or deklarbn.
TURTHER REsoLlo lher &e fneaoig ielud@ shau mt be denEd to be ,n q<lslE sraremnt otth. pd*6 ard auhorlry ofofE.s. dploree. ad o(hs peMN to acr for .td on bet'atfof
the Conpany. atrd s(h Relutkrn shrl .or llmh or orhwls€ afr<r rhe exerclse ofdy $.h poEr or aurhortq orhemte hXdly granr€d or vded.'
I, Dawn M. Chloros, Asslsranr Secretary of FEDERAL INSURANCE COMPAfIY, !']ctLANT TNSURANCE coMpA]\Y, and pAclrlc INDEMMTy mMpA]\y (rhe -Companies) do hereby
c€niry rhar
(i) the foreCoing Resolutiom adopted by the Board of Dlrectors ofthe Comf,anies are true, coneo and ln firll force 3nd eftecr,(li) the foreSoing Power ofAttomey ls rrue, correq and in fu1|force and efle(-t.
S"p*<nbo' lt , Jo:tr
AOur._Tn.U\f0l,8(
Given under my hand and seals ofsaid Companies ar Whitehous€ Sration, NJ, rhis
FED- VrG-Pl Fev 08-18)
lllvrn \l (lllr\,!\i{rn s(11d$*'
IN THE El,'E\T YOU IVISH TO \ERITY THE AUTHEA'TICNY OF TI IIS BO]\'I) OR NOTIFY US OF AI\'Y OTI tER MATTE& PLEASE COiIACI US AT
@@@
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16.A.3.b
Packet Pg. 458 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
FEDERAL INSURANCE COMPANY
STATEMENT OF ASSETS, LIABILITIES AND SUBPLUS TO POLICYHOLDERS
Statutory Basis
DECEMBER 31,2017
(in thousands ol dollars)
---
ASSEIS
LIABILITIES
AND
SU R P LU S TO POLI CYHOLDE RS
Cash and Short Term lnvestments......
United States Government, State and
Munrcipal Bonds.....
Other Bonds..,.........
Stocks.....................
Other lnvested Assets.........................
$ 08,340)
7,063,387
5,365,068
134,04'r
1,006,599
TOTAL INVESTI\,4ENTS 13,491,755 TOTAL LIABILITIES 14,473,362
lnvestments in Affi liates:
Chubb lnvestment Holdings, 1nc...............
Great Northern lnsurance Company,........
Vigilant lnsurance Company......................
Chubb lndemnity lnsurance Company......
Chubb National lnsurance Company ........
Chubb European lnvestrnenl Holdings, SLP
Other Attiliates........
Premiums Receivable ......-......-......
Other Assets...........
3,890,677
557,388
327,316
171,746
17-l,493
1'19,836
76,806
1,594,780
1,368,203
Capital Stock..........
Paid-ln Surplus......,
Unassigned Funds .
20,980
3,209,193
4,066,505
SURPLUS TO POLICYHOLDERS 7,296,674
TOTAL ADMITTED ASSETS $ 21,77O,O4O TOTAL LIABILITIES AND SURPLUS $ 21,770,040
lnvestments are valued in accordance with requirements of the National Association of lnsurance Commissioners.
At December 31. 20'17, investments with a carrying value of $558,430,596 were deposiled with government authorities
as required by law.
State, County & City of New York, - ss
Dawn M. Chloros, Assistant Secretary o, the Federal lnsurance Company
being duly sworn, deposes and says that the foregoing Statement of Assets, Liabilities and Surplus to Policyholders of said
Federal lnsurance Company on December 3'1 , 2017 is true and correct and is a true abstract of the Annual Statement of said
Company as llled with the Secretary ol the Treasury ol the United States for the 12 months ending December 31, 2017.
Subscribed and sworn to belore me
this March '1, 20'18.
FuuNm.G}\lA]\.el
JEANETTE SHIPSEY
Notary Public, State ol New Yoak
No. 02SH5074142
Oualified in Nassau County
Assastant Secretary
Notary Public
Commission ires March'10.2019
Fm 1t10-O313 {F4 3/13)
Outstanding Losses and Loss Expenses..... $ 10,545,326
Unearned Premiums 2,047,124
CededReinsurancePremiumsPayable-...,.. 739,431
ProvisionforReinsurance..................,......-.. 57,140
Other Liabilities....... 1,044,34-l
16.A.3.b
Packet Pg. 459 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
TOLL BROTHERS,INC.
250 Gibraltar Road
Horsham, PA 19044
Memo
VIA UPS OVERNIGHT DELIVERY
Date
From
1lr+lBScetemfe*ar.l0.l&
Drrlrgu FuYr.tJ
To:
Lynn DiGiulio
Sr. Insurance Bond / Letter ofCredit Administrator
Corp. Accounting
Subject: Decrease Rider for Collier County - Bond #82383560
-Jilf l>*reu,
Attached is the issued decrease rider, for the above, that you requested.
Please let me know if you have any questions.
*,1 I l**,** * * * * * + 'i *****,1* + + *** *l r * * * I r * ***,r* * * t + * *,i,t + * * * *+l I *** l)t * *,*,1* * * * I I * * r +,f,t * * +** * * + + +,r * + *,r
rhanks, fiJ +++sF-
@
-+*-D€'+lt---
e€rporate*ee€ustieglepa4n€lL-
16.A.3.b
Packet Pg. 460 Attachment: Bond Basis (19898 : Final Acceptance - Palazzo at Naples)
16.A.3.c
Packet Pg. 461 Attachment: Resolution (19898 : Final Acceptance - Palazzo at Naples)
16.A.3.c
Packet Pg. 462 Attachment: Resolution (19898 : Final Acceptance - Palazzo at Naples)
16.A.3.d
Packet Pg. 463 Attachment: Plat Map (19898 : Final Acceptance - Palazzo at Naples)
16.A.3.d
Packet Pg. 464 Attachment: Plat Map (19898 : Final Acceptance - Palazzo at Naples)
16.A.3.d
Packet Pg. 465 Attachment: Plat Map (19898 : Final Acceptance - Palazzo at Naples)
16.A.3.d
Packet Pg. 466 Attachment: Plat Map (19898 : Final Acceptance - Palazzo at Naples)
16.A.3.d
Packet Pg. 467 Attachment: Plat Map (19898 : Final Acceptance - Palazzo at Naples)