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AG 04-032 I TO:D )f1 /1'1' / /-e//ll {{.S /~ \~ fj ~')'ì' TY OF FEDERAL WAY LAW DEPARTMENT ~~ .?\~~J\J REQUEST F'ÒR CONTRACT PREPARATION/DOCUMENT REVIEW/SIGNATURE ROUTING SLIP 1. 2, 4, 5. 6. 7. 8. 9. 10. 11. ORIGINATING DEPT.lDIV: ÐV I D5 ORIGINATING STAFF PERSON: H'vjy¡ Pe:ferscn EXT: ~D3 7 3. DATE REQ, BY: TYPE OF DOCUMENT REQUESTED (CHECK ONE) D PROFESSIONAL SERVICE AGREEMENT D MAINTENANCE/LABOR AGREEMENT D PUBLIC WORKS CONTRACT D SMALL PUBLIC WORKS CONTRACT '9(SECU~'T]:: DOC~~ENT (E.G~~:~~) , . (!-ERFIMAIN BONE;ASSIGNMENT OF FUNDS IN LIEU OF BOND) D CONTRACTOR SELECTION DOCUMENT (E.G.. RFB, RFP, RFQ) D CONTRACT AMENDMENT D CDBG D OTHER (LESS THAN $200,000) D PURCHASE AGREEMENT) (MATERIALS, SUPPLIES, EQUIPMENT) D REAL ESTATE DOCUMENT AG#: ê, - /TJllie/ TELEPHONE TITLE ATTACH ALL EXHIBITS AND CHECK BOXES D SCOPE OF SERVICES D ALL EXHIBITS REFERENCED IN DOCUMENT D INSURANCE CERTIFICATE D DOCUMENT AUTHORIZING SIGNATURE TERM: COMMENCEMENT DATE: /\,1 / A I COMPLETION DATE: TOTAL COMPENSATION $ N / It (INCLUDE EXPENSES AND SALES TAX, IF ANY) (IF CALCULATED ON HOURLY LABOR éHARGE - ATTACH SCHEDULES OF EMPLOYEES TITLES AND HOLIDAY RATES) REIMBURSABLE EXPENSE: DYES D NO IF YES, MAXIMUM DOLLAR AMOUNT: $ IS SALES TAX OWED DYES DNO IF YES, $ PAID BY: DCONTRACTORDCIT CONTRACT REVIEW !2Q PROJECT MANAGER ).J DIRECTOR L/1/ (,1 0 RISK MANACEM NT txr' LAW )-1;1 úq œ srtÚM-asf MAl L4!/ .2/q It ~ CONTRACT SIGNATURE ROUTING ~ LAW DEPARTMENJ Ô,I+¿vt M CITY MANAGER 3/6 cq ~ þ( CITY CLERK ~,..' Pïr SIGN COpy BACK TAORG ING D PT. D ASSIGNeD ACt{ b {1-{-,L t D PURCH1.SING: PLE1.SE CH1.RGE TO: \ INITIAL/DATE APPROVED ¥=-At' '1.-/1-/ol.( ~ ~~~ ~(J1{UÚ; 1(1aJ~)~)\.l L/3L~~ INITIAL/DATE APPROVED INITIAL/DATE APPROVED J~ {¿~& ~Ju( " f, lUAr1 ~)(5 --to þ.¡0-1<~ UO>/,IJklkUU" ...-.uu ..~, ---------- ---"- , , .,J. A A/;'#OL/- '77.- Steadfast Sea~ Tac I, LLC; Steadfast Sea-Tac fl, LLC; Steadfast Sea-Tac ill, LLC; and Steadfast Sea~Tac IV, LLC Project: Sea Tac Mall Property Address: 1928 South Sea Tac Mall Federal Way, WA Bond #: Permit#: 04~ 100058-000-00-EN Bond Amount: . $904,592.00 Cash Deposit Amount: $ 22,615.00 Applicant: CITY OF FEDERAL WAY AGREEMENT AND PERFORMANCE/MAINTENANCE BOND THIS AGREEMENT ("Agreement") is dated effective this t!day of ~,2004. The parties ("Parties") to this Agreement are the City of Federal Way, a Washington municipal corporation ("City") and Steadfast Sea-Tac I, LLC, a Delaware Limited Liability Company, Steadfast Sea-Tac TI, LLC, a Delaware Limited Liability Company, Steadfast Sea-Tac III, LLC, a Delaware Limited LiabiJity Company, and Steadfast Sea-Tac IV, a Delaware Limited Liability Company ("Applicant"). A. The Applicant is required to perfonn certain work and/or complete certain improvements, including demolition of the existing Mervyn's building and re-routing the existing utilities for a proposed retail building at the above referenced address located in Federal Way, Washington in cOImectÏon with Applicant's Land Use Application under the above-referenced pennit number ("Permit"); B. The improvements win be constructed or the work perfonned in accordance with record drawings and approved plans on file with the City ("Plans"); C. The City has detennined that the Applicant must post security with the City pursuant to Sections 22-146 through 22-159 of the Federal Way City Code ("FWCC") as now existing or hereafter adopted or amended, to guarantee Applicant's performance of the required construction of improvements or perfonnance of work, maintenance or repair in accordance with the Plans as a condition of granting the Permit. NOW, THEREFORE, the Parties agree as follows: 1. Irnprovements- Applicant shall construct all improvements and perfonn all maintenance pursuant to the Plans, to the City's satisfaction ("Work"). The obligation to maintain the improvements shall continue for a, period of two (2) years after issuance of the certificate of occupancy or final inspection, or such longer period as required by the FWCC or other applicable law, rule or regulation. 2. Completjon of Work. The Applicant shaH complete the Work to the City's satisfaction, within the time period prescribed by the City, and in full compliance with the Plans, including any approved amendments thereto, and in conformance with all applicable laws, rules or regulations. / 3, PeríormancelMaintenance Bond. Applicant shall deliver the fully executed PerformancelMaintenance Bond to the City, in the fonn attached hereto as Exhibit "An and incorporated by this reference ("Bond"), to guarantee Applicant's performance of the construction of the improvements and/or maintenance of the improvements pursuant to the Plans. -1- ~~i< ..vv"" .L~' U. . .~. -~~--~ .~-- ---- -------- --- 4. Release of Bond. If the Principal constructs the improvements in accordance with the terms of the Bond, the Pennit and an applicable law, the sum of the Bond shaH be reduced by seventy percent (70%) after final inspection and approval of the improvements by the City and the City win deliver to Principal the fully executed Partial Release of Bond attached hereto as Exhibit "B". Except as set forth in the preceding sentence, the Bond shall remain in fun force and effect. That portion of the Bond equal to thirty percent (30%) of the original penal sum shall remain in full force and effect for two (2) years after [mal inspection and approval, as a maintenance bond to guarantee against defective materials and workmanship in the construction of the improvements and to insure continued maintenance of the improvements. Two (2) years after [mal inspection and approval of the improvements and performance of the maintenance, the City win Telease the remaining portion of the Bond by executing and delivering to Principal the Full Release of Bond attached hereto as Exhibit "C". S. Right to Complete Work. In the event the Applicant fails to perform the Work, the City may, but in no event is it obligated to, request the disbursement of the Bond from the surety and perform any of the necessary Work. Upon demand, Applicant agrees to pay the City an amount equal to all of the City's costs and expenses in penonning such Work in excess of the amount of the Bond. 6. Notice. The Community Development Department of the City shall be given forty..eight (48) hours notice prior to the commencement of the Work. 7. Indemnification. Applicant agrees to indemnify and hold the City, its elected officials, officers, employees, agents, and volunteers hanDless from any and a11 claims, demands, losses, actions and liabilities (including costs and attorney fees) arising from, resulting, or connected with this Agreement and the Bond, íncluding without limitation, the City's perfonnance of the Work pursuant to Section 5 herein. 8. Admínistrative Cash Deposit. In addition to the amount of the Bond, Applicant agrees to pay a cash deposit to the City pursuant to Section 22-151 of the FWCC, upon the execution of this Agreement equal to the following percentages of the amount of the Bond: Amount of Bond Amount of Cash Deposit Up to $20,000 $20,001 - $50,000 $50,001 - $100,000 $100,001 and up 5% of Bond (minimum $100) 4% of Bond 3% of Bond 2-112% of Bond The cash deposit may be used by the City to cover its actual expenses in administering this Agreement and, if necessary, collecting and using the proceeds from the Bond. 9. Remedies Cumulative. No Temedy provided for by this Agreement shan be deemed exclusive, but shall be deemed cumulative and in addition to every other remedy available to the City at law, in equity or by statute. Applicant's liability under this Agreement is not limited to the amount of the Bond. -2- U,)fU¿;I¿;UU't .L"-."'O 1'n.A. "VVUU"'-Zi..U - . ---- -----,--- 10. License. Applicant shall record a license in the form attached hereto as Exhibit "D" and incorporated herein by this reference with the King County Department of Records, immediately upon the execution of this Agreement and at Applicant's cost. ' 11. General Provisions. This Agreement may not be amended except by written agreement 'signed by the Parties. Any provision of this Agreement which is declared invalid, shall not invalidate the remaining provisions of this Agreement. The failure or delay of the City to declare any breach or default shall not waive such breach or default. This Agreement may not be assigned by any Party without the written consent of the other Party. This Agreement shaH be binding upon and inure to the benefit of the Parties' successors in interest. Time is of the essence. STEADFAST SEA-TAC I, LLC, a Delaware Limited Líability Company . By: Beacon Bay Holding, LLC, a Delaware Limited Liability Comp y, It's M aging Member' By: STEADFAST SEA- T AC ll, LLC, a Delaware Limited Liability Company By: Beacon Bay Holding, LLC, a Delaware Limited Liability Company It's Managing Member By: STEADFAST SEA-TAC ill, LLC, a Delaware Limited Liability Company By: By: -3- uv"v"" "Uy~ ~_._- -.--. ---------- . . STEADFAST SEA-TAC IV, LLC, a Delawaxe Limited Liabilìty Company By: Beacon Bay Holding, LLC, a Delaware Limited Liability Comp , It's Mana ing Member By: By: APPROVED AS TO FORM: STATE OF COUNTY OF ) ) ss. ) On this day personally appeared before me Dinesh Davar, to me known to be the Manager of Steadfast Sea-Tac I. LLC, Steadfast Sea-Tac ll, LLC, Steadfast Sea-Tac Ill, LLC and Steadfast Sea-Tac IV, LLC that executed the foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said Limited Liability Company, for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument and that the seal affixed, if any, is the official seal of said Limited Liability Corporation. GIVEN my hand and official seal this day of ,2004. I: IcsdcldocslsavclS569816098. doc G : It A W F ORMS\Agrccmcn t &PerfonnanccMaintcnanccBood Rev 12/02 (typed/printed name of notary) . Notary Public in and for the State of Washington. My commission expires -4- I ." CALIFORNIA ALL-PU RPOSE ACKNOWLEDGM ENT STATE OF CALIFORNIA } } } SS: COUNTY OF ORANGE On this ), 1Þf- day of )J¡~j,- , 2004, before me, Diana L. Sullivan, Notary Public, personally appeared DINESH DAVAR ,personally known to me, to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the person or the entity upon behalf of which the person acted, executed the instrument. DIANA L suwYM it o.... wan.1714111. í .., PIdc . c..:a.. z QarG8 Ccun1f MtCamL&PøAug1a2IIM WITNESS my hand and official seal. Ì)¡ (utA- k. ~ Diana L. Sullivan, Notary Public OPTIONAL INFORMA TION: Title or Type of Document: ~ d or &¡ /»rIttIW./~ 1ffAtL. Number of Pages: Date of Document: THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED ABOVE <' / VV'V../Vo,i .L".'" rl1A -"0) UU.J. 'i.J.().I1 v.J.L'y Ul l'eU IYa.r I(g UU~ ~ Bond#837320S SeaTac H~ll Building Rennovation ** 04-100058-000~OO-EN Project: Permit#: u Premium: $14,474.00 CITY OF FEDERAL WAY PERFORMANCEIMAIl'lTENANCE BOND KNOW ALL PEOPLE BY THESE PRESBNrS: . ' S~eadfa5t Sea~Tac I. LLC; S~ead£ast Sea-Tac 11. LLC; We, the undersigned 'S1:.eadfast Su.-Tac III. LLC: St:eadfast $~a.-'Iac I~. Ltc. ("Principal") and Developers 5urecy and. Indemn1t:y Company .. the undersigned coxporation organized and. existing under the laws of the State of Io~a and legally doing business in the State of Washington as a surety C'Surety"). are held and firmly boUnd unto the City ofF~ Way, a Washington m\1IlÍcipai corporation. ("City") in tbepena1 sum of * Donars andno/l00 (5 904.592.00 ~ for the payment of which they firmJ:y bind tbémselves and their legs.1 repTeBentatives, successors and assigns, jointly and severally. This obligation.is entered jnto pursuant to the statutes of the State of Washington 8I1.d the ordinances, regulations. standards and policies of the City, u now existing or hereafter amended or adopted. . . The ~~a1 has enteœd into an Agreement with. tb.e City dated March 2. 2004 £or- Sea- )), Tac Mall Mervyns Demoli~ion and Utility Re-route.. - NOW~ THEREFORE, if the Principal shall perfonn all the provisioDB of the .Agn,ement in the. manner and within the time period prescribed by the Cìty, or within such extensiaos of time as may be granted un4et the Agreem~ and s.bal1 pay alllabol'CIS, mechanics, subconuactors and material men or women. and all persons who shall supply the Principal or subcontraGtors with provisions and supplies for the canying on of said work, ~ shall hold the City) their oflicialB. agents, employees and volunteers hannles's from any loss or damage ~ìoned to any person Dr propertY by reason of any carelessness or negligence on the part of the Princjpal, or any subcontractoJ:' ìn the. performance of said work" and 'shall indermúfy and hold the City hannlClss . . from any dflmage or .expeIise by reason of failuxe of pcrfcIImmce as specified ÌD. the Agreement, or from defects appearing or developing in the matezial or workmanship proYjded or perfoI'JIled' under the Agreement withín a p~od of two (2) yeiIDi after its final acceptance thereof by the City, then and ÍI1 the event this obligation shall be void; but c1herwise, it sba11 be and remàin in - full force and effect . And the Surety, for value tecci~~d, hereby further stipulates and agrees that no change, extenSion oftime, alteration or addítion to the te1'1D.S of the Agreement or to the werle to be performed ' thereunder: or the specifications accompmying the same shall in any way affect ìts obligation on * Nine h~ndred four thoùsand five hund~ad n1ne~y-cwo and no/1OD -',--_._~..,..,........,~/~".", "",- - "'".,1"", '1'\Jf1~11ì[\_I'>')C'~IJ JM1\JJ EXHmIT A Bond #837320S SeaTae Hall Building Rennovation ** 04-100058-000-00-EN Project: Permit #: 11=. Premium: $14,474.00 CITY OF FEDERAL WAY PERFORMANCEIMAINTENANCEBOND KNOW ALL PEOPLE BY THESE PRESENTS: Steadfast Sea-Tac 1, LLC; Steadfast Sea-Tac II. LLC; Wet the undersigned Steadfast Sea-Tac III. LLÇ,: Stead~~st Sea-Iac IV.Ll,C, ("Principal") and Developers Surety and Indemnity Company. . the undersigned coIþoration organized and. existing under the laws of the State of Iowa and legally doing business in the State of Washington as a surety ("Surety"), are held and finnly boUnd unto the City of Federal Way, a Washington municipal corporationt ("City") in the penal sum of * Dollars and no/1OO ($ 904 t592 .00 ) for the payment of which they firmly bind themselves and their legal representatives, successors and assigns, jointly and severally. . This obligation.is entered into pursuant to the statutes of the State of Washington and the ordinances, regulations, standards and policies of the City, as now existing or hereafter amended or adopted. . The Principal has entered into an Agreement with the City of even date to March 1:, 2004 NOW, THEREFORE, if the Principal shall perform all the provisíons of the Agreement in the manner and within the time period prescribed by the City, or within such extensions of time as may be granted unc;ier the Agreement, and shall pay all laborers, mechanics, subcontractors and material men or wòmen, and all persons who shall supply the Principal or subcontraCtors with provisions and supplies for the cæ:rying on of said work, and shall hold the City, their officials, agents, employees and volunteers harmless from any loss or damage occasioned to any person or propertY by reason of any carelessness or negligence on the part of' the Principal, or any subcontractor in the performance of said work, and shall indenmify and ho1d the City harmless . from any damage or expense by reason of failure of performance as specified in the Agreement, or from defects appearing or developing in the material or worlananship provided or performed under the Agreement within a period of two (2) years after its final acceptance thereof by the City, then and in the event this obligation shall be void; but otherwise, it shall be and remain in full force and effect. ' And the Surety, for value received, hereby further stipulates and agrees that no change, extension oftíme, alteration or addition tothetermsoftheAgreemento! to the work tobeperformed ~ thereunder or the specifications accompanying the same shall in any way affect its obligation on * Nine hundred four thousand five hundred ninety-cwo and no/lOa 7 d 8L9S898Z89 'ONI LO: 8l 'is/SO: 8l HOG Z ~VW Onl) nVON3lÐ-OJSN I WO~:J tlùs bond, and it does hereby waive notice of any change, extension of time, alterations or additions to the tenns of the Agreement or to the Work. The Surety hereby agrees that modifications and changes may be made in the teuns and provisions of the Agreement without notice to Surety, and any such modifications or changes . increasing the total amount to be paid the Principal shall automatically increase the obligation of the Surety on this Performance Bond in a like amount, such increase, however, not to exceed twenty-five percent (25%) of the original amount of this bond without the consent of the Surety. Within forty-five (45) days of receiving notice that the Principal has defaulted on all or part of the terms of the Agreement, the Surety shall make a written commitment to the City that it will either: (a) cure the default itself within a reasonable time period, or (b) tender to the City, the amount necessary for the City to remedy the default, including legal fees incurred by the City, or (c) in the event that Surety's evaluation of the dispute is not complete or in the event the Surety disputes the City's claim of default, the Surety shall notify the City of its finding and its intent, if any, to interplead. The Surety shall then fulfill its obligations under this bond, according to the option it has elected. Should Surety elect option (a) to cure the default, the penal sum of the Bond shall be reduced in an amount equal to the costs actually incurred by the Surety in curing the default. If the Surety elects option (b), then upon completion of the necessary work, the City shall notify the Surety of its actual costs. The City shall retunl, without interest, any overpayment made by the Surety and the Surety shall pay to the City any actual costs which exceed thc City estimate, limited to the bond amoWlt. Should the Surety elect option (c), the Parties shall fIrSt complete participation in mediation, described in the below paragraph, prior to any interplead action. In the event a dispute should arise between the Parties to this Bond with respect to the City's declaration of default by the Principal, the Parties agree to participate in at least four hours of mediation in accordance with thc mediation procedures of United States Arbitration and Mediation (IIUSA&M"), The Parties shall proportionately share in the cost of the mediation. The mediation shall be administered by the Seattle USA&M office, 4300 Two. Union Square, 601 Union Street, ,Seattle) Washington 98101-2327. The Surety shall not interplead prior to completion of the mediation. DATED this ~ day of March ,2004. CORPORATE SE:AL OF PRINCIPAL: [PRINC1P AL ] Steadfast Sea-Tac I, LLC; Steadfast Sea-Tac II, LLC; Steadfast Sea-Tac III, LLC; 5~eadfast Sea-Tac IV, LLC. By: uting Bond) ~ d 8L998nZ£9 'm~/LO:£l'lS/80:~l vOOZ G ~VW(jnl) 3lVON3lÐ-OJSNI WOäj Its Manager (Title) 20411 SW Birch Street, Stè.200 Newport Beach,CA 92660 (Address) (949) 852-0700 {Phone CERTIFICATE AS TO CORPORATE SEAL I hereby certify that I am the (Assistant) Secretary of the Corporation named as Principal in the within bond; that , who signed the said bond on behalf of the Principal, was of the said Corporation; that I know his or her signature thereto is genuine, and that said bond was duly signed, sealed, and attested for and in behalf of said Corporation by authority of its governing body. Secretary or Assistant Secretary CORPORATE SEAL OF SURETY: Surety Developers Surety and Indemnity Company By: ~ð' ~~ Attorney-in-Fact (Attach Power of Attorney) Cassie J. Berrisford (Name of Person Executing Bond) " 17780 Fitch Suite 200 Irvine, CA 92614 (Address) 949 263-3300 APPROVED AS TO FORM: G : \Law F onus \PerlonnanceMaintenance Bond Rev. 12/02 ~ ~ R)Q~892G29'ONILO:~l'lS/60:8l vOOz z H~W(jnl) (Phone) jl~ONjlÐ-OJSN\ WOHJ CALI FORN IA ALL-PU RPOSE ACKNOWLEDGM ENT STATE OF CALIFORNIA } } } SS: COUNTY OF ORANGE MÍ On this J day of /J L/WJL , 2004, before me, Diana L. Sullivan, Notary Public, personally appeared DINESH DAVAR ,personally known to me, to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the person or the entity upon behalf of which the person acted, executed the instrument. WITNESS my hand and official seal. DIANA L SUWYAN . ~...~'121" í NI*Ir N:1Ic - 0&.. 18 z QarVt CaunIr _CamLflrjesAug1a2IM b~' ÇjL~ Diana L. Sullivan, Notary Public OPTIONAL INFORMA TlON: Title or Type of Document: ¿djuj- A- ~ ~W(LY ~uL Number of Pages: Date of Document: THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED ABOVE STATE OF CALIFORNIA } 55, COUNTY OF LOS ANGELES On March 1. 2004 I before mel CHERYL CAIGER PERSONALLY APPEARED CASSIE J. BERRISFORD personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowl- edged to me that he/she/they executed the same in his/ her/their authorized capacity(ies), and that by his/her/ their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed. the instrument. WITNESS my hand and official seal. f~ . .. u . . ". ...... ~ u " .. " . " }!~~, OI'H~;nYL GAIGER~ (; cmAM. 1256026 ~ 0 NOTAIW PUBLIC-CALIFORNIA ~ LOS ANGELES COUNTY My. Comm. Expires Mar. 9, 2004 s~a~~ ~ This area for Official Notarial Seal OPTIONAL Though the data below is not required by law. it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER 0 INDIVIDUAL 0 CORPORATE OFFICER DESCRIPTION OF ATTACHED DOCUMENT TITLE OR TYPE OF DOCUMENT TITLE(S) 0 PARTNER(S) 0 LIMITED 0 GENERAL ~ ATTORNEY-IN-FACT 0 TRUSTEE(S) 0 GUARDIANICONSERV A TOR 0 OTHER: NUMBER OF PAGES DATE OF DOCUMENT SIGNER IS REPRESENTING: NAME OF PEASON(S) OR ENTITY(IES) SIGNER(S) OTHER THAN NAMED ABOVE 10-081 Rev. 6/94 ALL-PURPOSE ACKNOWLEDGEMENT , . . . ..' POWER OF ATTORNEY FOR DEVELOPERS SURETY AND INDEMNITY COMPANY INDEMNITY COMPANY OF CALIFORNIA PO BOX 197~5. IRVINE. CA 9~6~3 (949) 263-3300 KNOW ALL MEN BY TIIESE PRESENTS. that except as expressly limited. DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA. do each. hereby make. constitute and appoint: ***Cindy L. Ridley, Cheryl Caiger, W.W. Jelks,Cassie J. Berrisford, Christopher J. Rizzotti, Debra Bell, Janet L. Shaw, Scot Drake, jointly or severally*** as their true and lawlill Attorney(s)-in-Fact. to make. execute. deliver and acknowledge. for and on behalf of said corporations. as sureties. bonds. undel1akings and contracts of suretyship giving and granting unto said Attollley(s)-in-Fact full power and authority to do :lI1d to perfÒnn every act necessary. requisite or proper to be done in eonneetion therewith as each of said corporations could do. but reserving to each of said corporations full power of substitution and revocation. and all of the acts of said Attorney(s)-in-Fact. pursuant to these presents. arc hereby ratified and conlinned, This Power of Attorney is granted and is signed by facsimile under and by authority of the lollowing resolutions adopted by the respective Board of Directors of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA. efTective as of November J. 2000: RESOLVED. that the Chairman of the Board. the President and any Vice President of the corporation be. and that each of them hereby is. authorized to execute Powers of Attorney. qualifying the attorney(s) named in the Powers of Attorney to execute. on behalf of the corporations. bonds. undertakings and contracts of suretyship: and that the Secretary or any Assistant Secretary of the corporations be. and each of them hereby is. authorized to attest the execution of any such Power of Attorney: RESOLVED. FURTI J ER. that the signatures of such oftiecrs may he aftixed to any such Power of Attorney or to any certilicate relating thereto by tilcsimilc. and any such Power {)f Attorney or certilicate bearing such tilcsimilc signatures shall be valid and binding upon the corporation when so aftixed and in the lilture with respect to any bond. undertaking or contract of suretyship to which it is attached, IN WITNESS WHEREOF. DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA have severally caused these presents to be signed by their respective Executive Vice President and attested by their respective Secretary this I st day of October. 2003, C~~ By: BYO"" H AJ;~ Walter A, Crowell. Secretary """"""'" ",,~... AND I~:"'" "'9.-~ """"'" 'rð~"" /~ ,,"'~~POR4>",+\ :: .,' v (> ". ~ ~ ::::: OCT' 1: ;~~ 10' ~(")~ \<3\ 1936 /~j \~'~"" IOWÞ- ..,...~'tj..l '" "'Q ',..........., 't-~ ." ""'" * .....,. ................, STATE OF CALIFORNIA ) )SS. ) COUNTY OF ORANGE On October 1.2003. before me. Diane J. Kawata. personally appeared David H. Rhodes and Walter A, Crowell. personally known to me (or proved to me on the basis of satistilctory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they exeeuted the same in their authorized capacities. and that by their signatures on the instrument the entity upon behalf of which the persons acted. executed the instrument. ~:3'~ Signature Q ~ 3: f DIANE J, KAWATA COMM, # 1334746 Notary Public - California ORANGE COUNTY My::omm, Expires JAN. 8. 2006 ~ <; ~ 0 CERTIFICATE The undersigned. as Senior Vice-President. Undelwriting of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA. does hereby certify that the foregoing Power of Attorney remains in full force and has not been revoked. and furthermore. that the provisions of the resolutions of the respective Boards of Directors of said corporations set forth in the Power of Attorney. are in force as of the date of this Certificate, This Certilicate is executed in the City olïrvine. California. the ~ day of March . 2004 By Wesley W. Cowling l.), ID-URO(Rev, 10/03) EXHIBIT B PARTIAL RELEASE OF BOND # The undersigned hereby acknowledges that a portion of the conditions of the Agreement and Performance/Maintenance Bond for , have been satisfied and hereby authorizes the release of an amount equal to Dollars ($~, The remaining funds equaling thirty (30%) of the cost of the work or improvements shall be retained by the City for a period of two (2) years as security for Assignors performance of all maintenance for the above described project and as a guarantee against defective materials or workmanship In the construction and maintenance of such improvements, DATED this day of ,20O_, C11Y OF FEDERAL WAY By: (Name, lltle) L d 8L9989£Z£9 'ON/LO:£l'lS/60:£l HOZ G ~VWUnl) 3lVON3lÐ-OJSN I WO~~ ~ FULL RELEASE OF BOND # TERMINATION OF UCENSE The undersigned hereby acknowledges that the two (2) year maintenance period has expIred, that the work. or improvements covered by the Agreement and Performance/Maintenance Bond for , have been completed to the aty's satisfaction and that the aty is not aware of any defect In workmanship or materials. Accordingly, the undersigned hereby releases the sum of Dollars ($ ). The undersigned further releases all right, title and Interest granted to the undersIgned by reason of a certain Ucense Agreement recorded under King County Recording No. ("LIcense Agreement") and acknowledges that all obligations and rights contained in the Ucense Agreement are hereby terminated. DATED this day of . 2000- CITY OF FEDERAL WAY By: (Name, litle) 8 d 8L9989£Z£9 'ON/ LO: £ l 'lS/60: £ l HOG G ~vw (3nl) nVON3lÐ-OJSN! WO~j FILED FOR RECORD AT REQUEST OF: MAIL TO: CITY OF FEDERAL WAY PO BOX 9718 FEDERAL WAY, WA 98063-9718 ATTN: KevinPeterson EXHIBIT D LICENSE The undersigned owner of certain real property located in Federal Way, Washington and legally described as follows: TAX PARCEL NO: 762240-0010 Full Legal description attached hereto as Exhibit "1" and incorporated herein by this reference ("Property") hereby grants an irrevocable license to the City of Federal Way ("City") and the City's agents, employees, contractors or representatives to enter upon the Property to inspect the construction of improvements, the performance of work or to allow the City to perfonn any necessary maintenance or work, all pursuant to that certain Agreement and PerformancelMaintenance Bond dated March 2, 2004 between the City and the undersigned and incorporated herein by this reference. DATEDthis~t;:f /1~ ,2004. STEADFAST SEA-TAC I, LLC, a Delaware Limited Liability Company By: Beacon Bay Holding, LLC a Delaware Limited Liability Co any, It's M aging Member By: 11 STEADFAST SEA-TAC II, LLC, a Delaware Limited Liability Company By: Beacon Bay Holding, LLC, a Delaware Limited Liability Company', It's Managing Member Dinesh DaYar 20411 SW B' h Newport Beac C (949) 852-0700 By: STEADFAST SEA-TAC III,.LLC, a Delaware Limited Liability Company By: Beacon Bay Holdin , LLC, a Delaware Limited Liability Company, 's Manag. g Member Dinesh Davar 20411 SW B' h Newport Beach, (949) 852-0700 By: STEADFAST SEA-TAC IV, LLC, a Delaware Limited Liability Company By: Beacon Bay Holding, LLC, a Liability Company, It's Mana By: STATE OF COUNTY OF ) ) ss. ) On this day personally appeared before me Dinesh Dayar, to me known to be the Manager of Steadfast Sea- Tac I, LLC, Steadfast Sea-Tac II, LLC, Steadfast Sea-Tac III, LLC and Steadfast Sea-Tac IV, LLC that executed the foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said Limited Liability Company, for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument and that the seal affixed, if any, is the official seal of said Limited Liability Corporation. GIVEN my hand and official seal this day of ,2004. (typed/printed name of notary) Notary Public in and for the State of Washington. My commission expires 1:\csdc\docslsave\5569816098,doc 12 CALIFORNIA ALL-PU RPOSE ACKNOWLEDGM ENT STATE OF CALIFORNIA } } } ss: COUNTY OF ORANGE On this 5~ day of ~ , 2004, before me, Diana L. Sullivan, Notary Public, personally appeared DINESH DAVAR ,personally known to me, to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the person or the entity upon behalf of which the person acted, executed the instrument. DWIA L SUWYMI . 6.,.,"11"\.111. i ...., NIIa . 0 11' . ~ QaIVt CIMI1r Mr(':Ø'nrn."-_." WITNESS my hand and official seal. t-MU- ~ .~ Diana L. Sullivan, Notary Public OPTIONAL INFORMA TION: Title or Type of Document: fr:~+ j-~~:/kt~~- Number of Pages: Date of Document: THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED ABOVE . . FILED FOR RECORD AT REQUEST OF: MAIL TO: CITY OF FEDERAL WAY PO BOX 9718 FEDERAL WAY, WA 98063-9718 ATTN: Kevin Peterson EXIDBIT D LICENSE The undersigned owner of certain real property located in Federal Way, Washington and legally described as fol1ows: TAX PARCEL NO: 762240-0010 Full Legal description attached hereto as Exhibit" 1" and incorporated herein by this reference ("Property") hereby grants an irrevocable license to the City of Federal Way ("City") and the City's agents, employees, contractors or representatives to enter upon the Property to inspect the construction of improvements, the performance of work or to allow the City to perform any necessary maintenance or work, an pursuant to that certain Agreement and Performance/Maintenance Bond of even date entered into between the City and the undersigned and incorporated herein by this reference. DATED this ;2.h?t day of ),'la:rVV ,2004. STEADFAST SEA-TAC I, LLC, a Delaware Limited Liability Company By: Beacon Bay Holding, LLC, a Delaware Limited Liability Co any, It's Managing Member By: -11- STEADFAST SEA-T AC II, LLC, a Delaware Limited Liability Company By: By: \ STEADFAST SEA-TAC ill, LLC, a Delaware Limited Liability Company By: Beacon Bay Holding, LLC, a Delaware Limited Liability Company, It's Mana 'ng Member By: STEADFAST SEA-TAC IV, LLC, a Delaware Limited Liability Company , By: Beacon Bay Holding, LLC, a Delaware Limited Liability Company It's Manag'ng Member By: CERTIFICATE AS TO CORPORATE SEAL I hereby certify that.I am the (Assistant) Secretary of the Limited Liability Company named as Principal in the within bond; that Dinesh Davar who signed the said bond on behalf of the Principal, was Manager of the said Limited Liability Company; that I know his signature thereto is genuine, and that said bond was duly signed, sealed, and attested for and in behalf of said Limited Liability Company by authority of its governing body. Secretary or Assistant Secretary -7- ---.- .' " COUNTY OF ) ) ss. ) ST ATE OF On this day personally appeaTed before me Dinesh Davar, to me known to be the Manager of Steadfast Sea-Tac I, LLC, Steadfast Sea-Tac II, Ltc, Steadfast Sea~Tac ill, LLC and Steadfast Sea-Tac N, LLC that executed the foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said Limited Liability Company, for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument and that the seal affixed, if any, is the official seal of said Limjted Liability Corporation. GIVEN my hand and official seal this day of ,2004, , (typed/printed name of notary) Notary Public in and for the State of Washington. My commission expires 1:\csdc\docs\save\55698 16098.doc G: \LA WFO RMS\Agreement&P erformanceM aintenan ceBond Rev. 01-31-02 -13- , ,- , , . ;, That portion of-Lot 1 of the plat ofSeaTac Mall, as recorded in Volume 97 of Plats, Pages 39 through 42, inclusive, r~cords of King County, Washington, more particularly described as follows: COMMENCING atthe northeast corner of the northwest quarter of Section 16, Township 21 North, Range 4 East, -W.M., City of Federal Way, King County, Washington, as shown on said p~ ',-' , - - - Thence along the north line of said subdivision, N 88°18'03" W, 770.90 feet; Thence S _01°41~57" W, 571.55 feet, to the True Point of Beginning; Thence S 88°19'15" E, 29.00 feet; Thence S 01°40'45" W, 1.67 feet; Thence S M019'15" E, 365.00 feet; Thence S 01°40'45" W, 287.33 feet; Thence N 88°19'15"W, 30.00 feet; Thence S 01°40'45" W, 51.50 feet; Thence N 88°19'15" W, 70.83 feet; Thence N 01°40'45" E, 2.50feet; Thence N 88°19'15" W, 109,17 feet; Thence N 01°40'45" E, 0.33 feet; Thence N 88°19'15" W, 153.00 feet; Thence N 01°40'45" E, 0:33 feet; Thence N 88°19'15" W, 31.33 feet; Thence N 01°40'45" E, 170.00 feet; Thence S 88°19'15" E, 0.33 feet; Thence N 01°40'45" E, 168.00 feet, to the True Point of Beginning, . ' . . . . ,. ~ InSI:IjbIC:D ~ DISCLOSURE RIDER Terrorism Risk Insurance Act of 2002 The Terrorism Risk Insurance Act of 2002 created a three-year program under which the Federal Government will share in the payment of covered losses caused by certain events of international terrorism. The Act requires that we notify you of certam components of the Act, and the effect, if any, the Act will have on the premium charged for this bond. Under this program, the Federal Government will cover 90% of the amount of covered losses caused by certified acts of terrorism, as defined by the Act. The coverage is available only when aggregate losses resulting from a certified act of terrorism exceed $5,000,000.00. Insurance carriers must also meet a variable deductible established by the Act. The Act also establishes a cap of $1,000,000,000.00 for which the Federal Government or an insurer can be responsible. Participation in the program is mandatory for specified lines of property and casualty insurance, including surety insurance. The Act does not, however, create coverage in excess of the amount of the bond, nor does it provide coverage for any losses that are otherwise excluded by the terms of the bond, or by operation of law. No additional premium has been charged for the terrorism coverage required by the Act. Developers Surety and Indemnity Company Indemnity Company of California 17780 Atch, Suite 200 Irvine, CA 92614 (949) 263 3300 www.lnscoDlco.com 10-1498 (Rev. 4/03) m------- ---..--..- , ---"""-"-'U"--'-"-"------""'-.__m..____..