HomeMy WebLinkAboutMARINA PARK PROPERTY MANAGEMENT AGREEMENT_02_LEASE_DOCUMENTS02 L.EASE DOCU V1ENTS
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PROPERTY MANAGEMENT AGREEMENT
I. PARTIES
This Agreement is made by and between THE CITY OF NEWPORT BEACH, a
municipal corporation (hereinafter called "City") and BENDETTI MANAGEMENT
GROUP (hereinafter called "Agent").
11. EXCLUSIVE AGENCY:
In consideration of the property management services to be rendered by Agent
pursuant to this Agreement, City hereby designates Agent as the exclusive agent and
representative of City for the purposes of managing and operating the mobile home
park owned by City commonly known as Marina Mobile Home Park (hereinafter called
the "Park").
III. TERM:
The term of this Agreement is for the period beginning upon final approval by both
parties and ending March 31, 2000. Either parry may terminate this Agreement without
cause upon thirty (30) days written notice.
IV. AGENT'S DUTIES:
Agent does hereby agree to use its best efforts to fully, effectively and' efficiently
manage, operate, and maintain the Park in a professional and lawful manner. City and
Agent further agree that Agent's authorities, duties, and responsibilities with respect to
the park shall be as follows:
Trust Account: Upon the execution of this Agreement, Agent shall
establish and maintain with an institution of Agent's choice, a Trust
Account for the deposit of all monies collected from the Park. The Agent
shall have the right and authority to draw on the Trust Account for any
and all payments, which Agent makes in discharging Agent's obligations
pursuant to the terms of this agreement, including the payment of Agent's
fee as provided within the terms of this Agreement.
2. Rent Collection: Agent shall take all reasonable and necessary action to
collect rentals, charges, or other income when due from tenants of the
Park in accordance with the terms of their tenancies and may execute all
receipts or any other documents reflecting receipt of said sums.
3. Operations and Management: Manage, operate and maintain the Park,
including, but not by way of limitation:
a) the employment, supervision and discharge, as employees or
independent contractors of Agent, of the on -site managers and of
all other personnel, professional or otherwise, in the reasonable
opinion of Agent necessary to the property management, operation
and maintenance of the Park, the actions and omissions of whom
shall not in any way be the responsibility of City.
b) the customary and ordinary maintenance and repair of the Park
and its improvements, fixtures, appurtenances and grounds,
c) the procurement and supervision of any and all services and
utilities in the reasonable opinion of Agent necessary to the proper
management, operation and maintenance of the Park, including,
but not by way of limitation, water, electricity, gas, fuel, telephone,
vermin extermination, rubbish hauling, window cleaning, janitorial
and gardening/landscaping,
d) advising City regarding any and all insurance which in the
reasonable opinion of Agent is necessary to adequately protect
City, Agent, their employees and agents and the Park or as
required by law, including, but not by way of limitation, where
appropriate and applicable, workmen's compensation insurance,
public liability insurance, fire, casualty and extended coverage
insurance, burglary and theft insurance, and
e) the prompt and timely compliance with any and all applicable
federal, state and municipal laws and ordinances and the rules,
regulations and orders of any and all federal, state and municipal
agencies having jurisdiction over the Park and the operation and
management thereof.
f) the administration and maintenance of all lease documents and
park regulations.
g) the administration, management and financing of capital
improvements to the park which may be approved by owner and
which have a total cost of $10,000 or less.
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0
4. Operating Expenses: From gross revenues collected from the Park,
Agent shall:
a) Pay all employee salaries at rates authorized by Owner.
b) Pay all operating expenses incurred through renting, servicing,
maintaining, or repairing the Park and such additional expenses in
connection with the Park as may be authorized by Owner.
c) Deduct Agent's fee described under "Agent's Fee" below and any
other fees due to Agent under the terms of this Agreement.
It is understood and agreed by the parties hereto that all costs related to the
maintenance and operation of the Park are to be paid from City's funds. Under no
circumstances whatsoever shall Agent be required to advance or otherwise expend
Agent's own funds for the benefit of the Park.
5. Agent's Authority: City does hereby authorize and direct Agent to do
everything reasonably necessary, in the name of and at the expense of
City for the proper management of the Park, including, without limitation
thereto, periodic inspections, handling tenant requests, supervision of
maintenance, arranging for maintenance and repairs as may be
necessary for the Park, purchasing all materials and supplies,
recommending independent contractors to supply services, and
requesting such sums from City as Agent deems necessary to accomplish
the foregoing. Agent shall obtain City's approval for an expenditure in
excess of $500.00 for any one item, except monthly or recurring
operating charges and/or emergency repairs in excess of the maximum, if
in the opinion of the Agent such repairs necessary to prevent additional
damage and/or liability or a greater total expenditure or to maintain
services or conditions to the tenants as called for in their tenancy. Agent
shall notify City immediately whenever emergency repairs have been
ordered.
6. Employee Coaches: Agent shall control the use and occupancy of the
two coaches in the Park owned by the City and reserved for use by Park
employees.
7. Records:
a) Agent shall compile and maintain those records, books and
accounts as required by applicable state and federal law
pertaining to mobile home parks.
3
b) Agent shall maintain full and accurate books and records of the
accounts of the Park, which shall be open to the inspection of
Owner at the office of Agent after reasonable notice to Agent.
M
proceed—Owner�inashall retain the right at any time without notice
to inspect and/or audit the books and records of agent relative to
the Park.
8. Payments:
balance remainina after all necessary charges have been made as
provided in the Aareement. Said monthly statement shall be deemed
icaame —and between the parties unless Owner notifies Agent in
writing. In the event there is a deficit in the account of the Park, Agent
shall notify Owner of this deficiency, and Owner agrees to forward said
amount to Agent within seventy-two (72) hours after notice.
9. Indemnity:
Agent shall defend, indemnify and hold harmless the City and its officers,
employees, and representatives, with respect to any claim or loss arising
out of or in any way related to agent's Wilful misconduct, fraud,
negligence or failure to perform duties required by this agreement.
V. OWNER'S DUTIES:
Agent and City agree that City's authorities, duties and responsibilities with respect to
the Park shall be as follows:
Information to Agent: City agrees to promptly furnish Agent with all
documents and records to properly manage the Park, including, but not
limited to, copies of existing service contracts, copies of all insurance
policies and any required endorsements thereto which are carried by City
during the term of this Agreement.
2. Hold Harmless: Except for Agent's misconduct or negligence, City shall
indemnify and save the Agent and its officers, directors, shareholders,
employees, representatives, successors and assigns, harmless from any
and all claims, costs and expenses, attorney's fees, litigation, liabilities,
and damages arising from or connected with the Park of the performance
or exercise of any of the duties, obligations, powers, or authorities herein
4
or hereafter granted to Agent.
3. Insurance: The City is a self insured public agency. City agrees to
consider all reasonable recommendations of Agent with respect to
insurance coverage to minimize the cost thereof and the possibility of
bodily injury, property damage, and loss of rental income.
4. Waiver of Subrogation: City hereby waives all of its rights and those of its
insurers with respect to recovery against Agent on account of loss or
damage to City's real or personal property where such loss is caused by
an insurable peril, including, but not limited to fire or any of the extended
coverage hazards and which damage arises out of or in connection with
the Park. City shall give notice to all insurance carriers, if any, that the
foregoing waiver of subrogation is contained in this Agreement.
5. Reimbursement Advances: City agrees to immediately reimburse Agent,
upon demand, to the full extent for all monies advanced by Agent for
City's accounts in carrying out the purpose of this Agreement, provided;
however, that nothing contained herein shall oblige Agent to make such
advances.
6. Governmental Order to Repair, etc.: In the event that any governmental
agency, authority, or department shall order the repair, alteration, or
removal of any structure or matter on the Park, or if after written notice of
the same to City by such body or Agent, the owner fails to authorize
Agent or others to make such repairs, alterations, or removals, Agent
shall be released from any responsibility in connection therewith, and
Owner shall be answerable to such body for any and all penalties and
fines whatsoever imposed because of such failure on City's part.
7. Agent's Fee: Owner shall pay Agent for its property management
services a monthly fee equal to five percent (5%) of gross revenues.
Agent is hereby authorized to deduct the amount of said fee for said
services each month, plus any other fees due Agent hereunder, as the
first charge upon all gross monthly rental income.
8. Additional Services Rendered: City hereby agrees that for any services
rendered by Agent on City's behalf beyond the scope of this Agreement,
Agent shall be paid at an hourly ratio of eighty dollars ($80.00) per hour.
Such additional services shall include, but not be limited to, formal rent
control procedures and representation of City before governmental
entities. All such additional services shall be approved by the City in
writing prior to the rendering of same. Services rendered for the
management and financing of capital improvements costing in excess of
$10,000 shall be subject to a separate contract.
5
9. Duty to Cooperate: City agrees to cooperate with Agent to facilitate
Agent's performance on its duties hereunder.
10. Power to Request: City hereby represents that it is empowered and duly
authorized to enter into this Agreement. The City Manager or his or her
designee is authorized to grant any approvals or authorizations required
of the City as part of this Agreement.
VI. MISCELLANEOUS TERMS:
Governing Law This Agreement shall be construed in accordance with
and all disputes hereunder shall be governed by the laws of the State of
California.
2. Successor: This Agreement shall be binding upon the parties hereto,
their legal representatives, successors, and permitted assigns, provided,
however, that this Agreement may not be assigned by the Agent or City
without the prior written consent of the other party.
3. Relationship of Parties: Under no circumstances shall this Agreement be
construed as creating either a partnership or an employer/employee
relationship between the parties hereto.
4. Legal Cost: Where legal assistance is required for such matters as
enforcing any terms of the lease, the collection of rents, or eviction
proceedings, such action shall be through counsel designated by City and
shall be at City's expense. Furthermore, in the event Agent or City shall
institute legal proceedings against the other arising out of the terms of
this Agreement or the performance hereunder, the prevailing party shall
recover from the other, all attorney's fees, costs, and expenses incurred in
any such action.
5. Agent shall provide City with a bond or similar agreement of a third
party to indemnify the City for any loss due to theft, embezzlement,
default by agent or its employees, officials or representatives. The
bond shall be in the sum of $100,000 per occurrence. The form and
content of the bond shall be approved by the City Attorney and the
City Manager.
6. Notices: Any notice required under the terms herein shall be deemed
given upon the placing of it in the United States Mail, postage prepaid,
return receipt requested, and addressed to the address designated below.
2
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•
Said address may be changed by either party by mailing written notice to
the other party at the last designated address of the other party as
provided herein.
7. Waiver: No failure by City or Agent to insist upon the strict performance
of any covenant, agreement, term or condition of this Agreement shall
constitute a waiver of any such breach or subsequent breach.
8. Entire Agreement: This Agreement sets forth the entire agreement
between the parties hereto, and fully supersedes any and all prior
agreements or understandings between the parties.
IN WITNESS WHEREOF, the parties have executed this Agreement the day and year
first written above.
CITY:
CITY OF NEWPORT BEACH
Date:
By:
e i . Murp y, y Manager
3300 Newport Blvd.
Newport Beach, CA 92663
AS TO FORM:
7
AGENT:
BENDETTI MANAGEMENT GROUP
Date:
By:
Ro IJ. Bendetti, Principal
1176 Main Street, Suite 100
Irvine, CA 92614
PROPERTY MANAGEMENT AGREEMENT
I. PARTIES
This Agreement is made by and between THE CITY OF NEWPORT BEACH, a
municipal corporation (hereinafter called "City") and BENDETTI MANAGEMENT
GROUP (hereinafter called "Agent").
II. EXCLUSIVE AGENCY:
In consideration of the property management services to be rendered by Agent
pursuant to this Agreement, City hereby designates Agent as the exclusive agent and
representative of City for the purposes of managing and operating the mobile home
park owned by City commonly known as Marina Mobile Home Park (hereinafter called
the "Park").
III. TERM:
The term of this Agreement is for the period beginning upon final approval by both
parties and ending March 31, 2000. Either party may terminate this Agreement without
cause upon thirty (30) days written notice.
IV. AGENT'S DUTIES:
Agent does hereby agree to use its best efforts to fully, effectively and efficiently
manage, operate, and maintain the Park in a professional and lawful manner. City and
Agent further agree that Agent's authorities, duties, and responsibilities with respect to
the park shall be as follows:
Trust Account: Upon the execution of this Agreement, Agent shall
establish and maintain with an institution of Agent's choice, a Trust
Account for the deposit of all monies collected from the Park. The Agent
shall have the right and authority to draw on the Trust Account for any
and all payments, which Agent makes in discharging Agent's obligations
pursuant to the terms of this agreement, including the payment of Agent's
fee as provided within the terms of this Agreement.
2. Rent Collection: Agent shall take all reasonable and necessary action to
collect rentals, charges, or other income when due from tenants of the
Park in accordance with the terms of their tenancies and may execute all
receipts or any other documents reflecting receipt of said sums.
3. Operations and Management: Manage, operate and maintain the Park,
including, but not by way of limitation:
a) the employment, supervision and discharge, as employees or
independent contractors of Agent, of the on -site managers and of
all other personnel, professional or otherwise, in the reasonable
opinion of Agent necessary to the property management, operation
and maintenance of the Park, the actions and omissions of whom
shall not in any way be the responsibility of City.
b) the customary and ordinary maintenance and repair of the Park
and its improvements, fixtures, appurtenances and grounds,
c) the procurement and supervision of any and all services and
utilities in the reasonable opinion of Agent necessary to the proper
management, operation and maintenance of the Park, including,
but not by way of limitation, water, electricity, gas, fuel, telephone,
vermin extermination, rubbish hauling, window cleaning, janitorial
and gardening/landscaping,
d) advising City regarding any and all insurance which in the
reasonable opinion of Agent is necessary to adequately protect
City, Agent, their employees and agents and the Park or as
required by law, including, but not by way of limitation, where
appropriate and applicable, workmen's compensation insurance,
public liability insurance, fire, casualty and extended coverage
insurance, burglary and theft insurance, and
e) the prompt and timely compliance with any and all applicable rn-e5 6J�
federal, state and municipal laws and ordinances and the rules, OP aJ^^A
regulations and orders of any and all federal, state and municipal
agencies having jurisdiction over the Park and the operation and
management thereof.
f) the administration and maintenance of all lease documents and
park regulations.
g) the administration, management and financing of capital
improvements to the park which may be approved by owner and
which have a total cost of $10,000 or less.
2
V
4. Operating Expenses: From gross revenues collected from the Park,
Agent shall:
a) Pay all employee salaries at rates authorized by Owner.
b) Pay all operating expenses incurred through renting, servicing,
maintaining, or repairing the Park and such additional expenses in
connection with the Park as may be authorized by Owner.
c) Deduct Agent's fee described under "Agent's Fee" below and any
other fees due to Agent under the terms of this Agreement.
It is understood and agreed by the parties hereto that all costs related to the
maintenance and operation of the Park are to be paid from City's funds. Under no
circumstances whatsoever shall Agent be required to advance or otherwise expend
Agent's own funds for the benefit of the Park.
5. Agent's Authority: City does hereby authorize and direct Agent to do
everything reasonably necessary, in the name of and at the expense of
City for the proper management of the Park, including, without limitation
thereto, periodic inspections, handling tenant requests, supervision of
maintenance, arranging for maintenance and repairs as may be
necessary for the Park, purchasing all materials and supplies,
recommending independent contractors to supply services, and
requesting such sums from City as Agent deems necessary to accomplish
the foregoing. Agent shall obtain City's approval for an expenditure in
excess of $500.00 for any one item, except monthly or recurring
operating charges and/or emergency repairs in excess of the maximum, if
in the opinion of the Agent such repairs necessary to prevent additional
damage and/or liability or a greater total expenditure or to maintain
services or conditions to the tenants as called for in their tenancy. Agent
shall notify City immediately whenever emergency repairs have been
ordered.
6. Employee Coaches: Agent shall control the use and occupancy of the
two coaches in the Park owned by the City and reserved for use by Park
employees.
7. Records:
a) Agent shall compile and maintain those records, books and��le�
accounts as required by applicable state and federal law
pertaining to mobile home pads &,
3
b) Agent shall maintain full and accurate books and .records of the
accounts of the Park, which shall be open to the inspection of
Owner at the office of Agent after reasonable notice to Agent. o d UW
Agent shall render to Owner a statement on the 20th riay of eacf� �¢ Syr^ ,
month showing all receipts and disbursements and reflecting the
financia c i ions o e immediately
Proceeding. Owner shall retain the right at any time without notice
to inspect and/or audit the books and records of agent relative to
the Park.
8. Payments:
Vfl Ube tvu, UGV V, r:n'^ "'^n. r+uCrn �nan w, wa, u_i� u,¢vwi,c� uw
balance remaining after all necessary charges have been made as
provided in the Agreement. Said monthly statement shall be deemed�y
ii=amre and correct between the parties unless Owner notifies Agent i �J
writing. In the event there is a deficit in the account of the Park, Agent
shall notify Owner of this deficiency, and Owner agrees to forward said
amount to Agent within seventy-two (72) hours after notice.
9. Indemnity:
Agent shall defend, indemnify and hold harmless the City and its officers,
employees, and representatives, with respect to any claim or loss arising
out of or in any way related to agent's willful misconduct, fraud,
negligence or failure to perform duties required by this agreement.
V. OWNER'S DUTIES:
Agent and City agree that City's authorities, duties and responsibilities with respect to
the Park shall be as follows:
Information to Agent: City agrees to promptly furnish Agent with all
documents and records to properly manage the Park, including, but not
limited to, copies of existing service contracts, copies of all insurance
policies and any required endorsements thereto which are carried by City
during the term of this Agreement.
2. Hold Harmless: Except for Agent's misconduct or negligence, City shall
indemnify and save the Agent and its officers, directors, shareholders,
employees, representatives, successors and assigns, harmless from any
and all claims, costs and expenses, attorney's fees, litigation, liabilities,
and damages arising from or connected with the Park of the performance
or exercise of any of the duties, obligations, powers, or authorities herein
4
or hereafter granted to Agent.
3. Insurance: The City is a self insured public agency. City agrees to
consider all reasonable recommendations of Agent with respect to
insurance coverage to minimize the cost thereof and the possibility of
bodily injury, property damage, and loss of rental income.
4. Waiver of Subrogation: City hereby waives all of its rights and those of its
insurers with respect to recovery against Agent on account of loss or
damage to City's real or personal property where such loss is caused by
an insurable peril, including, but not limited to fire or any of the extended
coverage hazards and which damage arises out of or in connection with
the Park. City shall give notice to all insurance carriers, if any, that the
foregoing waiver of subrogation is contained in this Agreement.
5. Reimbursement Advances: City agrees to immediately reimburse Agent,
upon demand, to the full extent for all monies advanced by Agent for
City's accounts in carrying out the purpose of this Agreement, provided;
however, that nothing contained herein shall oblige Agent to make such
advances.
6. Governmental Order to Repair, etc.: In the event that any governmental
agency, authority, or department shall order the repair, alteration, or
removal of any structure or matter on the Park, or if after written notice of
the same to City by such body or Agent, the owner fails to authorize
Agent or others to make such repairs, alterations, or removals, Agent
shall be released from any responsibility in connection therewith, and
Owner shall be answerable to such body for any and all penalties and
fines whatsoever imposed because of such failure on City's part.
7. Agent's Fee: Owner shall pay Agent for its property management
services a monthly fee equal to five percent (5%) of gross revenues.
Agent is hereby authorized to deduct the amount of said fee for said
services each month, plus any other fees due Agent hereunder, as the
first charge upon all gross monthly rental income.
8. Additional Services Rendered: City hereby agrees that for any services
rendered by Agent on City's behalf beyond the scope of this Agreement,
Agent shall be paid at an hourly rate of eighty dollars ($80.00) per hour.
Such additional services shall include, but not be limited to, formal rent
control procedures and representation of City before governmental
entities. All such additional services shall be approved by the City in
writing prior to the rendering of same. Services rendered for the
management and financing of capital improvements costing in excess of
$10,000 shall be subject to a separate contract.
5
9. Duty to Cooperate: City agrees to cooperate with Agent to facilitate
Agent's performance on its duties hereunder.
10. Power to Request: City hereby represents that it is empowered and duly
authorized to enter into this Agreement. The City Manager or his or her
designee is authorized to grant any approvals or authorizations. required
of the City as part of this Agreement.
VI. MISCELLANEOUS TERMS:
Governing Law. This Agreement shall be construed in accordance with
and all disputes hereunder shall be governed by the laws of the State of
California.
2. Successor: This Agreement shall be binding upon the parties hereto,
their legal representatives, successors, and permitted assigns, provided,
however, that this Agreement may not be assigned by the Agent or City
without the prior written consent of the other party.
3. Relationship of Parties: Under no circumstances shall this Agreement be
construed as creating either a partnership or an employer/employee
relationship between the parties hereto.
4. Legal Cost: Where legal assistance is required for such matters as
enforcing any terms of the lease, the collection of rents, or eviction
proceedings, such action shall be through counsel designated by City and
shall be at City's expense. Furthermore, in the event Agent or City shall
institute legal proceedings against the other arising out of the terms of
this Agreement or the performance hereunder, the prevailing party shall
recover from the other, all attorney's fees, costs, and expenses incurred in
any such action.
5. Agent shall provide City with a bond or similar agreement of a thir
party to indemnify the City for any loss due to theft, embezzlement,
default by agent or its employees, officials or representatives. The
bond shall be in the sum of $100,000 per occurrence. The form and
content of the bond shall be approved by the City Attorney and the
City Manager.
6. Notices: Any notice required under the terms herein shall be deemed
given upon the placing of it in the United States Mail, postage prepaid,
return receipt requested, and addressed to the address designated below.
6
Said address may be changed by either party by mailing written notice to
the other party at the last designated address of the other party as
provided herein.
7. Waiver: No failure by City or Agent to insist upon the strict performance
of any covenant, agreement, term or condition of this Agreement shall
constitute a waiver of any such breach or subsequent breach.
8. Entire Agreement: This Agreement sets forth the entire agreement
between the parties hereto, and fully supersedes any and all prior
agreements or understandings between the parties.
IN WITNESS WHEREOF, the parties have executed this Agreement the day and year
first written above.
CITY: AGENT:
CITY OF NEWPORT BEACH BENDETTI MANAGEMENT GROUP
Date: Date:
22t 1 C Q'?
By: By:-905�p—�
KeWoT Murp y, ' y Manager Ro . Bendetti, Principal
3300 Newport,Blvd. 1176 Main Street, Suite 100
Newport Beach, CA 92663 Irvine, CA 92614
APPROVED AS TO FORM:
7
03/23/2004 16:23
SCHEDULE OF NAMED INSUREDS = 178447-3-90
The Named Insured on the Declarations page is completed to read as follows:
PACIFIC LAND COMPANY
PACIFIC INDUSTRIAL CO.
D.L. BENDETTI CO.
LOS AMIGOS THOROUGHBREDS
PACIFIC INDUSTRIAL CONCEPTS
BENDETTI MANAGEMENT COMPANY;*<_
AMERICANA LAND ASSOCIATES DBA: FERNWOOD MOBILE HOME PARK
AMERICANA LAND ASSOCIATES DBA: LINCOLN CENTER MOBILE HOME PARK
BARR FAMILY TRUST, JOHN AND BETTY BARR, J & R INVESTMENTS, LOS AMXODS
THOROUGHBREDS AS RESPECTS 45240 LOS CORRALITOS RD., TEMECULA, CA.
AIRPORT DISTRIBUTION PARTNERS, A CALIFORNIA GENERAL PARTNERSHIP
DMG
J & B INVESTMENT CO.
NEWPORT TERRACE MOBILE HOME PARK
X
All other terms and conditions of this policy remain unchanged.
N
PAGE 02/15
o This endorsement must be attached to Change Endorsement when issued after the Policy is written.
e
One of the Fireman's Fund Insurance Companies as named in the policy
ga 179447-3-90 PAGE 01 OF 01
5
03/23/2004 16:23
7145786
ARMSTRONG ROBITAILE
PAGE 03/15
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POLICY NUMBER s 17 M2X 80820573 .
NAMED INSURED
PACIFIC LAND COMPANY.
PORTFOLIO POLICY (R)
CRIME DECLARATIONS
Insurance is Provided OhIV for those Insuring Agreements, Limits of Insurahce
and Endorsements shown below.
OTHER INSURING AGREEMENTS
EMPLOYEE BENEFIT PLANCS) INCLUDED AS INSURED$:
LIMITS OF INSURANCE AND DEDUCTIBLES:
INSURING AGREEMENTS LIMIT OF INSURANCE DEDUCTIBLE AMOUNT
EMPLOYEE THEFT 9 250,000 $ 2,500
FORGERY OR ALTERATION $ 25,000 $ 2,500
CANCELLATION OF PRIOR INSURANCE ISSUED BY US: BY ACCEPTANCE OF THIS
POLICY YOU GIVE US NOTICE CANCELLING THE FOLLOWING POLICY OR BOND
NUMBERCS)
THE CANCELLATION TO BE EFFECTIVE AT THE TIME THIS POLICY BECOMES
EFFECTIVE.
Commercial Crime Supplementary State Endorsements
CALIFORNIA CHANGES - ESCROW AGENT CCR 01 50 03 00)
CR - 1
.,03/23/2eO4 16:23 714570W ARMSTRONG ROBIT#L E PAGE 04/15
Commercial Crime Coverage Form - Loss Sustained Form - CR 00 2103 00
Policy Amendment(s) Commercial Crime Coverage •
Various provisions in this policy restrict coverage.
Read the entire policy carefully to determine rights,
b. If you arc sued for refusing to pay any
instrument
duties and what is or is not covered,
covered in Paragraph a.
above, on the basis that it has been
Throughout this policy the words you and your refer
forged or altered, and you have our writ-
shown in the Declarations, The
to the Named insuredwe
ten consent defend against the suit,
words we, us and our refer to the Company providing
o
we will pay for ariy'reasonable legal ex -
this insurance.
penes that you incur and pay in that
defense. The amount that we will pay is ,
Other words and phrases that appear in boldface have
in addition to the Limit of Insurance ap-
special meaning. Refer to Section F. Definition.
pEeable to this Insuring Agreement.
A. , Insuring Agreements
3• Inside The Premises - Theft Of Money And
Securities
Coverage is provided'undcr the following InsuringAgree
a. We will pay for loss of money
far which a Limit of Insurance is
shownin the
shown he Declarations:
and
securities inside the premises or banking
premises resulting -directly from theft,
1. Employee Theft
disappearance or destruction.
We will pay for loss of or damage 'to hlon�j,
b. We will pay for loss from damage 'to the
securities and other property resulting directly
premises or its exterior resulting directly
e from theft • committed by an employee,
from an actual or attempted theft of
Whether identified or not, acting alone or in
money and securities, if you are the
a collusion with other persons.
owner of the premises or are liable for
3
damage to it.
2. Forgery Or Alteration
C. We will pay for loss of or damage to a
3 a. We will pay for loss resulting directly
locked safe, vault, cash register, cash box
from forgery or alteration of checks,
or cash drawer located inside the premises
drafts, promissory notes, or similar writ-
resulting directly from an actual or at -
ten promises, orders or directions to pay
tempted theft of or unlawful entry into
a sum certain in money that are:
those containers.
(1) Made or drawn by or drawn upon
4. Inside The Premises - Robbery Or Safe
Burglary Of Other Property
you; or.
(2) Made drawn by one acting
a. We will pay for loss of or damage to
other property:
a
• your agent;
,
(1) Inside the premises resulting directly
or that are purported to have been so
from an actual or attempted robbery'
made or drawn,
of a custodian; or
I
This Form must be attached to Change Endorsement when issued after the policy is written.
One of tho Vremsn's Fund Insurance Cotnpanles as named in the policy
aI
se rotary
CROO21$40
COpyright;16=anee Services Office, Inc., 1999
President .
Page 1 of I I
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(2). Inside the premises in a safe or vault
M%dtiug directly from an actual or
attempted safe burglary.
b. We will pay for loss from damage to the
premises or its exterior resulting directly
from an actual or attempted robbery or
safe burglary of other property, if you are
the owner of the premises or are liable
for damage to it -
a. We will, pay for loss of or damage to a
locked safe or vault located inside the
premises resulting directly from an actual
or attempted robbery or safe burglary,
S. Outside The Premises
a. We will pay for loss of money and
securities outside the premises in the rare
and custody of •a messenger or an
armored motor vehicle company result-
ing directly from theft, disappearance or
destruction.
b. We will pay for loss of or damage to
other property outside the premises in the
care and custody of a messenger or an
armored motor vehicle company result-
ing directly from an actual or attempted
robbery.
6. Computer Fraud
We will pay for loss of or damage to money,
securities and other property resulting directly
from the use of any computer to fraudulently
cause a transfer of that property from.inside
the premises or banking premises:
a. To a person (other than a messenger)
outside those premises; -or
b, To a place outside those premises.
7. Money Orders And Counterfeit Paper Cur-
rency
We will pay for loss resulting directly from
your having accepted in good faith, in ex
change for merchandise, money or services:
a. Money orders issued by any post office,
express company or bank that are not
paid upon presentation; or
Caee2130
Capyttght lnmrmw Services OiGce, Inc., 1999
ARMSTRONG ROBITJJLE PAGE 05/15
b. Counterfeit paper currency that is ac-
quired during the regular course of busi-
mess.
B. Limit Of bsurance
The most we will, pay for loss in any one
occurrence is the applicable Limit of Insurance
shown in the Declarations,
C. Deductible
We will not pay for loss in any one occurrence
unless the amount of loss exceeds the Deductible
Amount shown in the Declarations. We will then
Pay the amount of loss in excess of the Deductible
Amount, up to the Limit of Insurance. In the
event more than one Deductible Amount could
apply to the same loss, only the highest Deductible
Amount may be applied.
D. Exclusions
I. This insurance does not apply to:
a. Acts Committed By You, Your Partners
Or Your Members
Loss resulting from theft or any other
dishonest act committed by:
(1) You; or
(2) Any of your partners or members;
whether acting alone or in collusion with
other persons.
b. Acts Of Employees, Managers, Directors,
Trustees Or Representatives
Loss resulting from theft or any other
dishonest act committed by any of your
employees, managers, directors, trustees
or authorized representatives:
(1) Whether acting alone or in collusion
with other persons; or
(2) While performing services for you
or otherwise;
except when covered under Insuring
Agreement A. 1.
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c. Govcruncntal Action cancelled and not reinstated since the last
Loss resulting from seizure or destruction such cancellation.
of property by order of governmental b. Inventory Shortages
authority.
d. Indirect Loss
Loss that is an indirect result of any act
_ or occurrence covered by this insurance
including, but not limited to, loss result-
ing from:
(1) Your inability torealize•incomethat'
you would have realized had there
been no loss of or damage to
money, securities or other property.
(2) Payment of damages of any type for
which you are legally liable, But,
we Will pay compensatory damages
arising directly from a loss covered
under this insurance,
(3) Payment of costs, fees or other ex-
penses you incur in establishing ei-
ther the existence or the amount of
loss under this insurance.
Q. Legal Expenses
Expenses related to auy'legal action, ex-
cept when covered under Insuring
Agreement A,2,
f. Nuclear
Loss resulting from nuclear reaction, nu,
clear radiation or radioactive contam-
ination, or any related act or incident.
B. War And Similar Actions
Loss resulting from war, whether or not
declared, warlike action, insuriection, re-
bellion or revolution, or any related act
or incident.
2. Insuring Agretxnent A.]. does not apply to:
a. Employee Cancelled Under Prior Insur-
ance
Loss caused by any employee of yours,
or predecessor in interest of yours, for
whom similar prior insurance has been
CROc21 3-00
CePmvn Insurance services ofrlce, Inc., lo06
Loss, or that part of any loss, the proof
Of which as to its -existence or amount is
dependent upon:
(1) An inventory computation; or
(2) A profit and loss computation
However, where you establish wholly
apart from such computations that you
have sustained a loss, then you may offer
your inventory records and' actual phys-
ical count of inventory in support of the
amount elf loss claimed,
c. Trading
Loss resulting directly or indirectly from
trading, whether in your name or in a
genuine or fictitious account.
Cl, Warehouse Receipts
Loss resulting from fraudulent or dis-
honest signing, issuing, canceling or fail-
ing to cancel, a warehouse receipt or any
papers connected with it.
3. Insuring'Agrcements A.3., A.A. and A.S. do'
not apply to:
a. Accounting Or Arithmetical Enurs Or
Omissions
LOSS resulting from accounting or arith-
metical errors or omissions.
b. Exchanges Or Purchases
Loss resulting from the giving or surren-
dering of property in any exchange or
purchase.
d, Fin:
Loss resulting from fire, however caused,
except:
(1) Loss from damage to a safe or vault;
and
(2) Under Insuring Agreement A,3., loss
of or damage to money and sceurf-
ties.
Page 3 of 11
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714578W
ARMSTRONG ROBIT#L-E
PAGE 07115
d. Money Operated Devices
Loss of property contained in any money
operated device unless the amount of
money deposited iu it is recorded by a
continuous recording instrument in the
device.
e. Motor Vehicles Or Equipment And Ac-
cessories
Loss of or damage .to motor vehicles,
trailers or semi -trailers or equipment and
accessories attached to them,
f. Transfer Or Surrender Of Property
(1) Loss of or damage to property after
It has been transferred or surren-
dered to a person or place outside
the premises or banking premises:
(a) On the basis of unauthorized
instructions;
(b) As a result of a threat to do
bodily harm to any person; or
(c) As a result of a threat to do
damage to any proporty.
(2) But, this Exclusion does not apply
under Insuring Agreement A.S. to
loss of money, securities or other
property while outside the premises
in the care and custody of a messen-
ger if you:
(a) Had no knowledge of any
threat at the.time the convey-
ance began; or
(b) Had knowledge of a threat at
the time the conveyance began,
but the loss was not related to
the threat.
g. Vandalism
Loss from damage to the premises or its
exterior, or to any safe, vault, cash regis-
ter, cash boat, cash drawer or other
Property by vandalism or malicious mis-
chief,
h. Voluntary Parting Of Title To Or Pos-
session Of Property
Loss resulting from your, or anyone act-
ing on your express or implied authority,
being induced by any dishonest act to
voluntarily part with title to or pos-
session of any property.
4. Insuring Agreement A.6, does not apply to:
Inventory Shortages
Loss, or that part of any loss, the proof of
which as to its existence or amount is de-
pendent upon:
a. An inventory computation; or
b. A profit and loss computation.
E. Conditions
The following Conditions apply in addition to the
Common Policy Conditions:
1. Conditions Applicable To All lnsuring
Agreements
a. Cancellation As To Any Employee
This insurance is cancelled as to any
employee:
(1) immediately upon discovery by:.
(a) You; or
(b) Any of your partners, members,
managers, officers, directors or
trustees not in collusion 'with
the employee;
of theft or any other dishonest act
committed by the employee whether
before or after becoming employed
by you.
(2) On the date • specified in a notice
mailed. to the first Named insured.
That date will be at .east 30 days af-
ter the date of mailing.
We will mail or deliver our notice to
the first Named Insured's last mail-
ing address known to us. If notice is
mailed, proof of mailing will be suf-
ficient proof of notice.
CRW213.00
CDPYA rlt, ry9a== Services Office, Inc., 1999 Page 4 of 11
I
03/23/2004 16:23 714578W
`i b. Concealment, Misrepresentation
Fraud
ARMSTRONG ROBIT#LE PAGE 08/15
Or also notify the local law enforcement
authorities.
.This insurance is void in any case of
fraud by you as it relates to this insurance
at any time, It is also void if you or any
other Insured, at any time, intentionally
conceal or misrepresent a material fact
concerning;
(2) Submit to examinrition under oath
at our request and give us a signed
statement of your answers,
(3) GIve us a detailed, sworn proof of
loss within 120 days.
(1) This insurance;
(4) Cooperate with us in the ]nvcsti-
=� (2) The property covered under this in.
gation and settlement of any claim,
r surance;
e, Employee Benefit Plan(s)
(3) 'Your interest in the property cov-
(1) The empluYee benefit plans) shown
_ eyed under this insurance; or
in the Declarations are included as
(4) A claim under this insurance.
Insureds under Insuring Agreement
A,L
C. Consolidation - Merger
(2) If any employee benefit plan(s) is
If through consolidation or merger with,
cured jointly with any -other entity
or purchase or acquisition of assets or I]-
under this insurance, you or the
abilities of, some other entity, any addi-•
Plan ' Administrator must select a
tional persons become employees or you
Lunrt of Insurance for Insuring
acquire the use and control of any addi-
Agreement A.]. that is sufficient to
tional premises:
provide a 'Limit • of Insurance for
each Plan that is at least equal to
(1) You must give us written notice and
that required if each Plan were sep-
obtain our written consent to extend
arately insured, '
this insurance to, such additional
employees or premises. We may
(3) With respect to losses sustained or
condition our consent upon pay-
discovered by any such Plan, Insur-
ment of an additional premium; but
ing Agreement A.I. is replaced by
the following:
(2) For the fast 90 days after the effec• ,
tive date of such consolidation,
We will pay for loss of or damage to
merger or purchase or.acquisition of
funds and other property resulting
assets or liabilities, any insurance af•
directly from fraudulent or dishonest
forded for employees or premises
acts committed by an employee,
also applies to these additional cut- •
whether identified or not, acting
ployees or premises for acts commit-
alone or in collusion with other
fed or events occurring within this
persons.
90 day period.
(4) If the fast Named Insured is an en -
Duties In The Event Of Loss
City other than a Plan, any payment
After you discover a loss or a situation
we make to that Insured for loss
sustained by any Plan will be held
M that may result in loss of or damage to
by that Insured for the use and ben-
monoy, securities or other property you
efit of the Plan(s) sustaining the loss.
must:
(1) Notify us as soon as possible. If you
(5) If two or more Plans are insuredunder this insurance, any payment
have reason to believe that any loss
we make for loss:
(except for loss covered under, In-
suring Agreements A. 1. or A.2.) in-
(a) Sustained by two or more
volvcs a violation of law, you must
Plans; or .
QUM 3-00
'
fCopyright, insurance so mac, oiicc, Inc., l99$
Page 5 of ] ]
03/23/2004 16:23 71457BJ6
ARMSTRONG ROBIT4LE
PAGE 09/15
(b) Of commingled funds or other
property of two or more Plans;
that arises out of one occurrence, is
to be shared by each Plan sustaining
loss in the proportion that the Limit
Of Insurance required for each Plan
bears to the total of those limits.
(6) 1'lre Deductible Amount applicable
to Insuring Agreement A. 1. does not
apply to loss sustained by any em-
ployee benefit plan(s).
f. Extended Period To Discover Loss
(1) we will pay for loss that you sus.
tained prior to the effective date of
termination or cancellation of this
insurance, which is discovered by
You no later than 1 year from the
date of that termination or cancella-
tion.
(2) However, this extended period to
discover loss termivates immediately
upon the cdective date of any other
insurance obtained by you replacing
in whole or in part the insurance af-
forded hereunder, whether or not
such other insurance provides cov-
erage for loss sustained prior to its
effective date.
g. Joint Insured
(1) If more than one Insured is named
in the Declarations, the first Named
Insured will act for itself and for ev-
ery other Insured for all purposes of
this insurance. If the first Named
Insured ceases to be covered, then
the next Named Insured will become
the first Named Insured.
(2) If any Insured, or partner, member
or officer of that Insured has know-
ledge of any information relevant to
this insurance, that knowledge is
considered knowledge of every In.
sured.
(3) An employee of any Insured is con-
sidered to be an employee of every
Insured.
CRaa21 3.00
Copyright, Imron" services office, Inc., 1998
(4) If this insurance or any of its cover-
ages is cancelled or terminated as to
any ,Insured, loss sustained by that
Insured is covered only if discovered
by you during the period of time
provided in the Extended Period To
Discover Loss Condition E.11
However, this extended period to
discover loss terminates as to that
Insured immediately upon the effec-
tive date of any other insurance ob-
tained by that Insured replacing in
whole or in part the insurance af-
forded hereunder, whether or not
such other insurance provides cov-
erage for loss sustained prior to its
effective date.
(5) we will not pay more for loss sus-
tained by more than one Insured
than the amount we would pay if all
the loss bad been sustained by one
Insured,
h. Legal Action Against Us
You may not bring any legal action
against us involving loss:
(1) Unless you have complied with all
the terms of this insurance;
(2) Until 90 days after you have tiled
proof of loss with us; and
(3) Unless brought within 2 years from
the date you discover the loss.
if any limitation is prohibited by law,
such limitation is amended so as to equal
the minimum period of limitation pro-
vided by such law.
i. Liberalization
If we adopt any revision that would
broaden the coverage under this insur-
ance without additional premium within
45 days prior to or during the policy pa-
And, the broadened coverage will imme-
diately apply to this insurance.
Page 6 of 11
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714578W
ARMSTRONG ROBITJLE
PAGE 10/15
S
N
0
Loss Covered Under A4ore Than One
Coverage Of This Insurance
If two or more coverages of this insur-
ance apply to the same loss, we will, pay
the lesser o£
(1) The actual amount of loss; or .
(2) The sum of the Limits of insurance
applicable to those coverages.
k. Loss Covered Under This Insurance And
Prior .insurance. Issued By 'Us Or Any
Affiliate
If any loss is covered:
Partly by this insurance; and
(2) Partly by any prior Cancelled or ter•
minated insurance that -we or any
affiliate had issued to you or any
predecessor in interest;
the most we will pay is the Iarger of the
amount recoverable under this insurance
or the prior insurance.
Regardless of the number of years this
insurance remains in force or the number
of premiums paid, no Limit of Insurance
cumulates from year to year or policy
period to policy period_
1. Loss Sustained
Subject to the Loss Sustained During
Prior Insurance Condition E.l.m, we
Will pay for loss that you sustain through
acts committed or events occurring dur-
ing the policy period shown in the Dec-
larations and discovered by you:
(1) During the policy period; or-
(2) During the period of time provided
in the Extended Period To Discover
Loss Condition E. l.E
m. Loss Sustained During Prior Insurance
(1) If you, or any predecessor in inter-
cst; sustained loss during theperiod
Of any prior insurance that you or
the predecessor in interest could
have reeoveicd under that insurance
except that the time within which to
discover loss had expired, we will
pay for it under this insurance, pro-
vided:
(a) This insurance became effective
at the time of cancellation or
termination of the prior insur-
ance; and
(b) The loss would have been cov-
ered by this insurance had it
been in effect when the acts or
events 'causing the loss were
eommittcd or occurred.
(2) The insurance under this Condition
is part of, not in addition to, the
Limits of -Insurance applying to -this
insurance and is limited to the lesser
of the amount recoverable under:
(a) This insurance as of its effective
date; or
(b) The prior insurance had it re-
mained in effect.
n. Other Insurance
This insurance does not apply to loss re-
coverable or recovered under other in.
surance Or indemnity. If the limit of the
other insurance or indemnity is insuffi-
cient to cover the entire amount of the
loss, this insurance will apply to that part
of the loss, other than that falling within
any Deductible Amount, not recoverable
or recovered under the other insurance
or indemnity.
However, this insurance will not apply io
the amount of loss that is more than the
applicable Limit of Insurance shown in
the Declarations.
o. Ownership Of Property; Interests Cov-
ered
The property covered under this insur-
ance is limited to property:
(I) That yak, own or lease;
(2) That you hold for others; or
(3) For which you are legally liable, ex-
cept for property inside the premises
of a client of yours.
,x CR00213.00
COPYritbt imw•snce services ofricc, Ine., 1992 Page 7 of I l
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03/23/2004 16:23 7145786
ARMSTRONG ROBI#LE
PAGE 11/15
I3Owever, this insurance is for your bcn-
which we have paid or settled. You must
efit only. It provides no rights or benefits
also do everything necessary to secure
to any other person or organization.
Any claim for loss that is covered under
those rights and do nothing after loss to
imps fiyem,
this insurance must be presented by you.
P. Records
t. Valuation - Settlement
You most keep records of all property
(1) Subject to Section B. Limit Of in -
.
covered under this insurance so we can '
surance, we will pay for:
verify the amount of any loss.
(a) Loss of money but only up to
q. Recoveries
and including its face value.
We may, at our option, pay for
1
() Any recoveries, less the cost of
loss of money•issued by any
fairing them, made after settlementent
country other than the United
of loss covered by this insurance will
States of America:
be distributed as follows:
(i) At face value in the money
(a) To you, until you are reim-
issued by that country; or
bursed for any loss that you
(ii) In the United States of
sustain that exceeds the Limit
America dollar equivalent
of Insurance and the Deductible
determined by the Tate of
Amount, if any;
exchange on the day the
(b) Then to us; until we are wim-
loss was discovered.
bursed for the settlement made;and
(b) Loss of securities but only up
to and including their value at
(c) Then to you, until youare re-
the close of buiiness on the day
imbursed for that part of the
the loss was discovered, We
loss equal to the Deductible
may, at our option:
Amount, if any.
(i) Pay the value of such se-
(2) Recoveries do not include any re-
curitles or replace them in
covery:
kind, in which event you
must assign to us all your
(a) From insurance, suretyship, re-
rights, title and interest in
insurance, security or indemnity
and to those securities; or
taken for our benefit; or
(il) Pay the cost of any Lost
(b) Of original securities after du-
Securities Bond required in
pliicates of them have been is.
connection with issuing
mod•
duplicates of the securities,
r, Territory
I3owever, we will be liable
,
only for the payment of s6
This insurance covers acts committed or
much of the cost of the
events occurring within the United Statcs
bond as would be charged
of America (including its territories and
for a bond having a penalty
possessions), Puerto Rico and Canada.
not exceeding the lesser of
the:
s. Transfer Of Your Rights Of Recovery
Against Others To Us
i. Value of the securities
at the close of busi
You must transfer to us all your rIghts
ness on the day the
Of recovery against any person or organ-
loss was discovered;
ization for any loss you sustained and for
or
cstooal 2.00
Copylisht Iomuonce $VNIMS Oalco, lat., 1998
Pago 8 of 11
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03/23/2004 16:23
714578�6
ARMSTRONG ROBI#LE
PAGE 12/15
ii. Limit of lusurancc.
(c) Loss of or damage to other
property or loss from damage
to the premises or its exterior
for the replacement cost of the
property without deduction for
depreciation. However, we will
not pay more than the least of
the following:
(i) The limit of Insurance
applicable to the lost or
damaged Property.
(ii) The cost to replace the lost
or damaged property with
property of cdmparable
material and quality and
used for the same purpose;
or
(iii) The amount you actually
spend that is necessary to
repair or replace tbo lost
or damaged property.
We will not pay on a replace-
ment cost basis for any loss or
damage:
(i) Until the lost or damaged
property is' actually re-
paired or replaced; and
(ii) Unless the repairs or re-
placement are made as
soon as reasonably possi-
ble after the loss or dam-
age.
If the lost or damaged property
is not repaired or replaced, we
Will pay on an actual cash value
basis.
(2) We may, at our option, pay for loss
of or damage to property other than
4 money:
(a) In the money of the country in
which the loss occurred; or
(b) In the United States of America
N dollar equivalent of the money
u of the country in which the loss
a CR00213,00
19
Copyright, Jn=rwcc Servieeg Office, int., ign
Occurred determined by the'rate
of exchange on the day the loss
was discovered.
(3) Any property that we pay for or rc-
place becomes our property,
2. Condition Applicable To Insuring Agreement
A.1.
Territory
We will pay for loss caused by any employm-
white temporarily outside the territory speci-
fied in the Territory Condition L.l,r, for a
period of not more than 90 days.
3. Conditions Applicable- To Insuring Agree.
ment A.2.
a. Deductible
The Deductible Amount does not apply
to legal expenses paid under Insuring
Agreement A.2.
b. Facsimile Signatures
We will treat mechanically reproduced
facsimile signatures the some as hand-
written signatures.
c. Proof Of Loss
You must include with your proof of loss
any instrument involved in that loss, 'or,
if that is not possible, an affidavit setting
forth the amount and cause of loss.
d. Territory
We will cover loss you sustain anywhere .
in the world, The Territory Condition
1-s.l.r•. does not apply to Insuring Agree-
ment A.2.
4. Conditions Applicable To Insuring Agtec-
ments'AA. And A.5.
a. Armomd Motor Vehicle Companies
Under Insuring Agreement A.5., we will
only pay for the amount of loss you
cannot recover:
(1) Under your contract with the
armored motor vehicle company;
and
Page 9 of 11
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ARMSTRONG ROBI#LE
PAGE 13/15
(2) From any insurance or indemnity
carried by, or for the benefit of cus-
tomers of, the armored motor vchi.
Ole company.
b. Special Limit Of lusuranec For Specified
property
We will, only pay up to $5,000 for any
one occurrence of loss of or damage to:
(1) Precious metals, precious or semi-
precious stones, pearls, fun, or
completed or partially completed
articles made of or containing such
materials that constitute the princi-
pal value of such articles; or
(2) Manuscripts, drawings, or records
of any kind or the cost of recon-
structing them or reproducing any
information contained in them.
S. Conditions Applicable To Insuring Agree-
ment A.6.
a Special Limit Of Insurance Por Specified
Property
We will only pay up to $5,000 for any
one occurrence of loss of or damage to
manuscripts, drawings, or records of any
kind or the cost of reconstructing them
or reproducing any information con-
tained in them.
b. Territory
We will cover loss you sustain anywhere
in the world. The Territory Condition
E.l.r. does not apply to Insuring Agree-
ment A.6.
P. Definitions
1. Banking premises means the interior of that
portion of any building occupied by a banking
institution or similar safe depository.
2. Client means any entity for whom you per-
form services under a written agreement.
3. Counterfeit means an imitation of an actual
valid original which is intended to deceive and
to be taken as the original.
4. Custodian means you, or any of your partners
or members, or any employee while having
care and custody of property inside the
CR0021 3.00
Copyright Insurance $ervitts Onitt, Into 1998
premises, excluding any person while acting
as a watcbperson or janitor.
5. Employee:
a. Employee means:
(1) Any natural person:
(a) while in your service or for 30
days after termination of ser-
vice;
(b) Who you compensate directly
by Waxy, wages or commis-
sions; and
(c) Who you have the right to di-
rect and control while perform-
ing services for you;
(2) Any natural person who is furnished
temporarily to you:
(a) To substitute for a permanent
employee as defined in Para-
graph (1) above, who is on
leave; or
(b) To meet seasonal or short-term
work load conditions;
while that person is subject to your
direction and control and perform-
ing services for you, ''excluding,
however, any • such person while -
having care and custody of property
outside the premises; or
(3) Any natural person who is:
(a) A trustee, officer, employee,
administrator or manager, ex-
cept an administrator or man-
ager who is an independent
contractor, of any employee
benefit plau(s) insured tinder
this inmirance; and
(b) Your director or trustee while
that person is handling funds
or other property of any em-
ployee benefit plan(s) insured
under this insurance.
b. Employee does not mean:
(1) Any agent, broker, person leased to
you by a labor leasing firm, factor,
commission merchant, consignee,
Page 10 of 11 .
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03/23/2004 16:23 714578W ARMSTRONG ROBITATILE PAGE 14/15
independent contractor or represen- (1) An act or series of related acts in-
tative of the same general character; volving one or more persons; or
or
(2) Any manager, director or. trustee
except while performing acts coning
within the scope of the usual duties
of an employee.
6. Employee benefit plan(s) means • any welfarc
or pension benefit plan shown in the Decla-
rations that is subject to the i✓mployce Re-
tirement • Income Security Act of 1914
(ERISA).
7. forgery means the signing ' of the •same • of
another person or organization with intent to
deceive; it does not mean a signature which'
consists in Whole or in part of one's own
name signed with or without authority, in any
capacity, for any purpose.
8. funds means money and securitiess.
9: Manager means a person serving in a direc-
torial capacity for a limited liability company.
10.. Member means an owner of a limited lability.
company represented by its membership in-
terest, who also may serve as a manager.
11. Measctrger means you, or a relative of yours,
or any of your partners or members, or any
employee while having care and custody of
property outside the premises.
12, Money means:
a. Currency, coins and bank notes in cur-
rent use and having a face value; and
b. Travelers checks, register checks and
money orders held for sale to the public.
13. Occurrence means:
a. As respects Insuring Agreement A.I., at
loss caused by, or involving, one or more
cinphtyces, whether the result of a single
act or series of acts.
b. As respects Insuring Agreement A.2., all
loss caused by any person or in Which
that person 'is involved, whether the loss
involves o= or more instruments.
c. As respects all other Insuring Agree-
ments:
CR0021 3-00
C�pyrighL Innuancc Setvlcu Ofriec, Inc,, 1995
(2) An act or event, or a series of related
acts or events not involving any
person.
14. Other property means any tangible property
other than money and securities that has in-
trinsic value but does not include any prop,
erty excluded under this insurance.
15. Premises means the' interior of that portion
of any building you occupy In conducting
Your business. •
16. Robbery means the unlawful taking of prop-
erty from the care and custody of a person by
one who has:
a. Caused or threatened to cause that per-
son bodily harm; or
b. Committed an obviously unlawful act
witnessed by that person.
17. Safe burglary means the unlawful taking of:
a. Property from within a locked safe' or
vault by a person unlawfully entering the
safe or vault as evidenced by marks of
forcible entry upon its exterior; or
b. A safe or vault from inside the premises.
18. Securities means negotiable and nonnegoti-
able instruments or contracts representing ei-
ther money or property and includes: -
a. Tokens, tickets, revenue and other
stamps • (whether represcnted by actual
stamps or unused value in' a meter) in
Current nSe; and
b. Evidences of debt issued in connection
with credit or charge cards„ which cards
are not issued by you;
but does not include money.
19, Theft means the unlawful taking of money,
securities, or other property to the deprivation
of the Insured.
20. 'Watchperson means any person you retain
specifically to have care and custody of prop-
erty inside the premises and who has no other
duties.
Page 11 of 11
F03/23/2004 16:23 714578 f ARMSTRONG ROBIT#LE PAGE 15/15
California Changes - Escrow Agent - CR 0150 03 00
Policy Amendment(s) Commercial Crime Coverage
Tltis endorsement modifies insurance provided under the following:
Commercial Crime Coverage Form
Commercial Crime Policy
Employee Theft and Forgery Policy
A. The following is added to Section F. Defmitions:
1. Employee also includes any:
a. Officer, director or eCriployee of yours
who is not compensated when perform-
ing acts coming within the scope of the
usual duties of an officer or employee of
yours; and
employee shall not be a defense to any suit,
action or other legal proceeding against us.
R. The following is added to the Cancellation Of
Policy Condition:
b. Member of any of your committees duly
elected or appointed to examine or audit
or have custody of your property. C.
The ownership of all or a portion of the
shares of the Named Insured by any
Notice of Cancellation
No eaucellatiort of this policy, whether at your re-
quest or our request, sball take effect prior to the
expiration of 30 days after written notice of such
cancellation has been filed with the Commissioner
of Corporations.
Exclusion, DA.a. Acts Committed By You, Your
Partners Or Your Members is deleted if you arc
licensed as an escrow agent'by the Commissioner
Of Corporations of the State of California.
This Form must be attached to Change Endomcment when isaued after the policy is written
One of the Firemaulss Fmd tas mace Companies as named in the policy
�l sNw� AV
B etaty President
C90150 3.00 CA
Copyright, lt=aace smicet oface, fee., 1999
03/23/2004 16:23 71457OW ARMSTRONG ROBILLE PAGE 01/15
FAX COVER SHEET
ARMSTRONG/ROBITAILLE INSURANCE SERVICES
P.O. Box 34009 • Fullerton, CA 92834-9409
(714) 578-7290 • Fax (714) 626-7573
Email: svanauker@arinsurance.eom
TOt Evelyn Tseng—City of NPB DATE: 3123104
FROM: STEVE VAN AUSER CPCU,CLU FAM 949-644-3073
RE: Marinapark—Crime coverage for Bendetti Management Co.
Dear Evelyn,
Here are the pages for the Crime coverages on above. If you have any questions, please get
back to me.
81ncerely,
i
eve Van Aulter
TOTAL NO. OF PAGES (including this cover page): 15
If you did not receive all of the pages, please call sender as soon as possible.
Email at: svanauker cr arinsurance.com
CONFIDENTIALITY NOTICE... This facsimile transmission may contain confidential information which is intended only for
the use of the person(s) named above. If you are not the intended recipient, you are hereby advised that any disclosure, copying,
distribution or the taking of any action in reliance on the contents of this information is prohibited. if you have roccivad this
transmission in error, olease notify us to arrange for the return of the documents.
ava�:aaisannemenewLvomaehsvorox,doc
CITY OF NEWPORT BEACH
ADMINISTRATIVE SERVICES DEPARTMENT
-Revenue.
Date: March 24, 2004
To: Robin Clauson
From: Evelyn Tseng 15T
Subject: Bendetti Management bond
CC: Glen Everroad
Hi Robin:
Enclosed is the relevant provision from the Bendetti Management Agreement which requires that Bendetti
provide us with a bond, the form and content of which shall be approved by the City Attorney. Also
enclosed is what Bendetti's insurance agent sent me — a Crime Declaration insuring against employee
theft to $250,000.
Does the insurance policy comply with the bond requirement? If so, please sign off on the insurance copy
as approved by the City Attorney's office and return to me for my records. If it doesn't, let me know so
can call Mr. Mecham to discuss. ''
Thanks.
I .,I. ,
I
G "ki
04-
. bw
i<..f oc .tfi�eeFt�'
CA
!-t<cn Nn n
9. Duty to Cooperate: City agrees to cooperate with Agent to facilitate
Agent's performance on its duties hereunder.
10. Power to Request: City hereby represents that it is empowered and duly
authorized to enter into this Agreement. The City Manager or his or her
designee'is authorized to grant any approvals or authorizations required
of the City as part of this Agreement.
VI. MISCELLANEOUS TERMS:
Governing Law. This Agreement shall be construed in accordance with
and all disputes hereunder shall be governed by the laws of the State of
California.
2. Successor: This Agreement shall be binding upon the parties hereto,
their legal representatives, successors, and permitted assigns, provided,
however, that this.Agreement may not be assigned by the Agent or City
without the prior written consent of the other party.
3. Relationship of Parties: Under no circumstances shall this Agreement be
construed as creating either a partnership or an employer/employee
relationship between the parties hereto.
4. Legal Cost: Where legal assistance is required for such matters as
enforcing any terms of the lease, the collection of rents, or eviction
proceedings, such action shall be through counsel designated by City and
shall be at City's expense. Furthermore, in the event Agent or City shall
institute legal proceedings against the other arising out of the terms of
this Agreement or the performance hereunder, the prevailing party shall
recover from the other, all attorney's fees, costs, and expenses incurred in
any such action.
5. Agent shall provide City with a bond or similar agreement of a thir
party to indemnify the City for any loss due to theft, embezzlement, ,
default by agent or its employees, officials or representatives. The
bond shall be in the sum of $100,000 per occurrence. The form and
content of the bond shall be approved by the City Attorney and the
City Manager.
6. Notices: Any notice required under the terms herein shall be deimed
given upon the placing of it in the United States Mail, postage prepaid,
return receipt requested, and addressed to the address designated below.
A
0
W
J
03/23/2004
PAGE 02/15
SCHEDULE OF NAMED INSUREDS = 17807-3-90
The Named Insured on the Declarations page is completed to read as follows:
PACIFIC LAND COMPANY
PACIFIC INDUSTRIAL CO.
D.L. BENDETTI CO.
LDS AMIGOS THOROUGHBREDS
PACIFIC INDUSTRIAL CONCEPTS
BENDETTI MANAGEMENT COMPANY;*<-.
AMERICANA LAND ASSOCIATES DBAt FERNWOOD MOBILE HOME PARK
AMERICANA LAND ASSOCIATES DBA: LINCOLN CENTER.MOBILE HOME PARK
BARR FAMILY TRUST, JOHN AND BETTY BARR, J & R INVESTMENTS, LOS AMIGOS
THOROUGHBREDS AS RESPECTS 45240 LOS CORRALITOS RD., TEMECULA, CA.
AIRPORT DISTRIBUTION PARTNERS, A CALIFORNIA GENERAL PARTNERSHIP
DMG
J & B INVESTMENT CO.
NEWPORT TERRACE MO➢ILE HOME PARK
All other terms and conditions of this policy remain unchanged.
This endorsement must be attached to Change Endorsement when issued after the Policy is written.
One of the Fireman's Fund Insurance Companies as named in the policy
a
178447.3-90 PAGE 01 OF 01
S
5
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ARMSTRONG ROBITA_I�LLE
PAGE 03/15
POLICY NUMBIER s 17 MZX 80320573 .
NAMED INSURED
PACIFIC LAND COMPANY.
PORTFOLIO POLICY (R)
CRIME DECLARATIONS
Insurance is provided only •Far those Insuring Agreements, Limits of Insurance
and Endorsements shown below. -
OTHER INSURING AGREEMENTS .
EMPLOYEE BENEFIT PLANCS) INCLUDED AS INSUREDS:
LIMITS OF INSURANCE AND DEDUCTIBLES=
INSURING AGREEMENTS LIMIT OF INSURANCE DEDUCTIBLE AMOUNT
EMPLOYEE THEFT A 250,000 $ 2,500
FORGERY OR ALTERATION S 25,000 $ 2,500
CANCELLATION OF PRIOR INSURANCE ISSUED BY US: BY ACCEPTANCE OF THIS
POLICY YOU GIVE US NOTICE CANCELLING THE FOLLOWING POLICY OR BOND
NUMBERCS)
THE CANCELLATION TO BE EFFECTIVE AT THE TIME THIS POLICY BECOMES
EFFECTIVE.
CammeMcial Crime Supplementary State Endorsements
CALIFORNIA CHANGES - ESCROW AGENT CCR 01 50 03 00)
CR - 1
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ARMSTRONG ROBITA 1 LE
t
PAGE 04/15
7
N
V
Commercial Crime Coverage Form - Loss Sustained Form - CR 40 21 03 00
Policy Amendmcnt(s) Commereial Crime Coverage •
Various provisions in this policy restrict coverage.
Read the entire policy carefully to determine rights,
duties and what is or is not covered.
Throughout this policy the words you and your refer
to the Named Insured shown in the Declarations. The
wards tve, us and our refer to the Company providing
this insurance.
Other words and phrases that appear in boldface have
special meaning. Refer to Section F. Definitions.
A...Lisui•iagAgieements .
Coverage is provided under the following Insuring
Agreements for which a Limit of Insurance is
shown in the Declarations:
L Employee Theft
We will pay for loss of or damage io money,
securities and otlier property resulting directly
from theft • committed by an employee,
whether identified or not, acting alone or in
collusion with other persons.
2. Forgery Or Alteration
a. We will pay for loss resulting directly
from forgery or alteration of checks,
drafts, promissory notes, or similar writ-
ten promises, orders or directions to pay
a sum certain in money that are:
(1) Made or drawn by or drawn upon
YOU; or.
(2) Made or drawn by One acting as
your agent;
Of that are purported to have been so
made or drawn,
b. If you are sued for refusing to pay any
instrument covered in Paragraph a.
above, on the basis that it has been
forged or altered, and you have our writ-
ten consent to defend against the suit,
we will pay for ady'reasonable legal ex-
penses that you incur and pay in that
defense: The amount that we will pay is.
in addition to the Limit of Insurance ap-
plicable to this Insuring Agreement,
3_ inside The Premises - Theft Of Money And
Securities
a. We will pay for loss' of money and
securities inside the premises or banking
premises resulting directly from theft,
disappearance or destruction.
b. We will pay for loss from damage -to the
premises or its exterior resulting directly
from an actual or attempted theft of
money and securities, if you are the
owner of .the premises or are liable for
damage to it.
C. We will pay for loss of or damage to a
locked safe, vault, cash register, cash box
or cash drawer located inside the premists
resulting directly from an actual or at-
tempted theft of or unlawful entry into
those containers.
4. lnside The Premises - Robbery Or We
BuW, ary Of Other Property,
a. We will pay for loss of or damage to
other property_
(1) Inside the premises resulting directly
from an actual or attempted robbery'
of a custodian; or
This Farm must be attached to Change Endorsement when issued after the policy is written.
One of the Areman'a Fund insurance CompunleS as named in the policy
Sc [Crary
FIL'SjdCnt
CRoe21 3.00
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03/23/2004 16:23 714578748,E ARMSTRONG ROBITALLLE PAGE 05/15
(2), Inside the premises in it safe or vault
resulting directly from an actual or
attempted We burglary.
b. We will pay for loss from damage to the
premises or its exterior resulting directly
from an actual or attempted robbery or
safe burglary of other property, if you are
the owner of the premises or are liable
for damage to it.
o. We will, pay for loss of or damage to a
locked safe or vault located inside the
premises resulting directly from an actual
or attempted robbery or safe burglary,
5. Outside The Premises
a. We will pay for loss of money and
securities outside the premises in the care
and custody of •a messenger or an
armored motor vehicle company result-
ing directly from theft, disappearance or
destruction.
b. We will pay for loss of or damage to
other property outside the premises in the
care and custody of a messenger or an
armored motor vehicle company result-
ing directly from an actual or attempted
robbery.
6. Computer Fraud
We will pay for loss of or damage to money,
securities and other property resulting directly
from the use of any computer to fraudulently
cause a tramsfer of that property f xun.inside
the premises or banking premises:
a. To a person (other than a messenger)
outside those premises; -or
b. To a place outside those premises,
7. Money Orders And Counterfeit Paper Cur.
rency
We will pay for loss resulting directly from
your having, accepted in good faith, in ex-
change for merchandise, money or services;
a. Money orders issued by any post office,
express company or bank that are not
paid upon presentation; or
b. Counterfeit paper currency that is ac-
quirefl during the regular course of busi-
ness.
B. Limit Oflnsurance
The most we will pay for loss in any one
occurrence is the applicable Limit of Insurance
shown in the Declarations,
C. Deductible
We will not pay for loss in any one occurrence
unless the amount of loss exceeds the Deductible
Amount shown in the Declarations. We will then
Pay the amount of loss in excess of the Deductible
Amount, up to the Limit of Insurance. In the
event more than one Deductible Amount could
apply to the same loss, only the highest Deductible
Amount may be applied,
D. Exclusions
1. This insurance does not apply to:
a. Acts Committed By You, Your Partners
Or Your Members
Loss resulting from theft or any other
dishonest act committed by:
(1) You; or
(2) Any of your partners or members;
whether acting alone or in collusion with
other persons.
b. Acts Of Employees, M ers, Directo
Trustees Or Representatives
Loss resulting from theft or any other
dishonest act committed by any of your
employees, mans rs ors, trustees
or alltlioMed representatives:
(1) Whether acting alone or in collusion
with other persons; or
(2) While performing services for you
or otherwise;
except when covered under Insuring
A ent A.1. 7
CR90tl M0
Copyright In=MW Services ofaec, file., 1998
Page 2 of I
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ARMSTRONG ROBITAILLE
PAGE 06/15
A
s
a
h
0.
1.
Mo
0
C, GOVernmental Action
Loss resulting from seizure or destruction
of property by order of governmental
authority.
d. Indirect Loss
Loss that is an indirect result of any act
or occurrence covered by this insurance
including, but not limited to, loss result-
ing from:
(1) Your inability to realize -income that
you would have realized had there
been no loss of or damage to
money, securities or other property.
(2) Payment of damages of any type for
which you are legally liable, But,
we will pay compensatory damages
arising directly from a loss covered
under this insurance.
(3) Payment of costs, fees or other ex•
penes you incur in establishing ei-
ther the existence or the amount of
less Under this insurance.
C. Legal Expenses
Expenses related to any•legal action, ex-
cept when covered under Insuring
Agreement A.2.
£ Nuclear
Loss resulting from nuclear reaction, nu-
clear radiation or radioactive contam-
ination, or any related act or incident.
g. War And Similar Actions
Loss resulting from war, whether or not
declared, warlike action, insurrection, re-
bellion or revolution, or any related act
or incident.
2, Insuring Agreement A.I. does not apply to:
a. );mployee Cancelled Under Prior Insur-
ance
Loss caused by any employee of yours,
or predecessor in interest of yours, for
whom similar prior insurance has been
CROO$i 3-00
COPYAChT, Inmranm Services Office, Inc., 1996
cancelled and not reinstated since the last
such cancellation-
b. Inventory Shortages
Loss, or that part of any loss, the proof
Of which as to its. existence or amount is
dependent upon:
(1) An inventory computation; or
(2) A profit and loss computation
However, where you establish wholly
apart from such computations that you
have sustained a loss, then you may offer
Your inventory records and actual phys.
ical count of inventory in support of.tho
amount of loss claimed.
c. Trading
Loss resulting directly or indirectly from
trading, whether is your name or in a
genuine or fictitious account,
d, Warehouse Receipts
Loss resulting from fraudulent or dis-
honest signing, issuing, canceling or fail-
ing to cancel, a warehouse receipt or any
papers connected with it.
3. Insuring'Agreements A.3., A4. and A.S. do'
not apply to:
a. Accounting Or Arithmetical Errors Or
Omissions
Loss resulting from accounting or arith-
metical errors or omissions.
b. Exchanges Or Purchases
Loss resulting from the giving or surren-
dering of property in any exchange or
purchase.
d. Fire:
Lass resulting from fie, however caused,
except:
(1) Loss from damage to a safe or vault;
and
(2) Under Insuring Agreement A.3., loss
of or damage to money and securi-
ties.
Page 3 of I
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ARMSTRONG ROBITA.TLLE
PAGE 07/15
d. Money Operated Devices
Loss of property contained in any money
operated device unless the amount of
money deposited in it is recorded by a
continuous recording instrument in the
device.
e. Motor Vehicles Or Equipment And Ac-
cessories
Loss of or damage to motor vehicles,
trailers or semi -trailers or equipment and
accessories attached to them.
£ Transfer Or Surrender Of Property
(1) Loss of or damage to property after
It has been transferred or surren-
dered to a person or place outside
the premises or banking premises:
(a) On the basis of unauthorized
instructions;
(b) As a result of a threat to do
bodily harm to any person; or
(c) As a result of a threat to do
damage to any property.
(2) But, this Exclusion does not apply
under Insuring Agreement A.S. to
loss of money, securities or other
property while outside the premises
in the care and custody of a messen-
ger if you:
(a) Had no knowledge of any
threat at the -time the convey.
ante began; or
(b) Had knowledge of a threat at
the time the conveyance began,
but the loss was not related to
the threat.
g. Vandalism
Loss from damage to the premises or its
exterior, or to any safe, vault, cash regis-
ter, cash box, cash drawer or other
property by vandalism or malicious mis-
chief,
h. Voluntary Parting Of Title To Or pos-
session Of Property
Loss resulting from your, or anyone act-
ing on your express or implied authority,
being induced by any dishonest act to
voluntarily part with title to or pos-
session of any property.
4. Insuring Agreement A.6, does not apply to:
Inventory Shortages
loss, or that part of any loss, the proof of
which as to its eaistenec or amount is de-
pendent upon:
a. An inventory computation; or
b. A profit and loss computation.
E. Conditions
The following Conditions apply in addition to the
Common Policy Conditions:
1. Conditions Applicable To All lasuring
Agreements
a. Cancellation As To Any Employee
This insurance is cancelled as to any
employee:
(1) Immediately upon discovery by:.
(a) You; or
(b) Any of your partners, members,
managers, officers, directors or
trustees not in collusion •with
the employee;
of theft or any other dishonest act
committed by the employee whether
before or after becoming employed
by you.
(2) On the date • specified in a notice
mailed to the first Named Insured.
That date will be at least 30 days af-
ter the date of mailing,
We will mail or deliver our notice to
the first Named Insured's last mail-
ing address known to us. If notice is
mailed, proof of mailing will be suf-
ficient proof of notice.
CROO21 3.00
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03/23/2004 16:23 7145787486 ARMSTRONG ROBITAI,LE PAGE 08/15
b. Concealment, Misrepresentation or also notify the 100al law enforcement
Fraud
authorities.
.This insurance is void in any case of
fraud by you as it relates to ibis insurance
at any time. It is also void if you or any
other Insured, at any time, intentionally
conceal or misrepresent a material fact
concerning: .
(2) Submit to examination under oath
at our request and give us a signed
statement of your answers.
(3) Give us a detailed, sworn proof of
loss within 120 days,
(1) This insurance;
(4) Cooperate with us in the invcsti-
(2) The property covered under this in.
gation and settlement of any claiin,
surance;
e. Employee Benefit Plan(s)
(3) "'bur interest in the property cov-
(1) The employee benefit plan(s) shown
ered under this insurance; or
in the Declarations are included as
4
() A claim under this insurance.
-Insureds under Insuring Agreement
A.1_
e. Consolidation - Merger
•
(2) If any employee hencfit plans) Is in -
If through consolidation or merger with,
cured jointly witIl any 'other entity
or purchase or acquisition of assets or If-
under this insurance, you or the
abilities of, some other entity, any addi-,
Plan 'Administrator must select a
tional persons become etriploye as or you
Limit of Insurance for Insuring
acquire the use and control of any addi-
Agreement A.I. that is sufficient to
tional premises:
provide a Limit ' of Insurance for
'each Plan that is at !cast equal to
(1) You must give us written notice and
that required if each, Plan were sep-
obtain our written consent to extend
arately insured.
this insurance to, such additional
employees or premises, We may
(3) With respect to losses sustained or
condition our consent upon pay-
discovered by any such Plan, Insur-
ment of an additional premium; but
ing Agreement A.1, is replaced by
the following: ,
(2) For the first 90 days after the effec• ,
tive date of such consolidation,
We will pay for loss of or damage to
merger or purchase or acquisition of
fonds and other property resulting
assets or liabilities, any insurance af.
directly from fraudulent or dishonest
forded for employees or premises
acts committed by an employee,
also applies to these additional cut- •
whether identified or not, acting
ployets or premises for acts commit-
alone or in collusion with other
ted or events occurring within this
persons.
90 day period, •
(4) 1f the first Namcd Insured is an en-
d. Duties In The Event of Loss
tity other than a Plan, any payment
we make to that Insured for loss
After you discover a loss or a situation
sustained by any Plan will be held
that may result in loss of or damage to
by that Insured for the use and ben -
money, securities or other property you
efit of the Plan(s) sustaining the loss.
must:
(I) Notify us as soon as possible. If you
(5) If two or more Plans are insured
under this insurance,
have reason to believe that any loss
any payment
we make for loss:
(except for loss covered under. In-
suring Agreements A. 1. or A.2.) in-
(a) Sustained by two or, more
volvcs a violation of law, you must
Plans; or .
CI10021 3-00
Copyright, Imurmoc sg,vices ortoe Inc., 19911
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)
PAGE 09/15
(b) Of commingled funds or other
property of two or more Plans;
that arises out of one occurrence, is
to be shared by each Plan sustaining
loss in the proportion that the Limit
of Insurance required for each Plan
bears to the total of those limits.
(6) The Deductible Amount applicable
to Insuring Agreement A.I. does not
apply to loss sustained by any em-
ployee benefit plan(s).
f. Extended Period To Discover Loss
(1) We will pay for loss that you sus.
tained prior to the effective date of
termination or cancellation of this
insurance, which is discovered by
you no later than 1 year from the
date of that termination or cancella-
tion.
(2) However, this extended period to
discover loss terminates immediately
upon the effective date of any other
insurance obtained by you replacing
in whole or in part the insurance af-
forded hereunder, whether or not
such other insurance provides cov-
erage for loss sustained prior to its
effective date.
g. Joint
(1) If more than one Insured is named
this insurance, If the first Named
uresn�d- ceases to be covered, then
the next Named Insured will become
the first Named Insured.
(2) If auy Insured, or partner, member
or officer of that Insured has know-
ledge of any information relevant to
this insutance, that knowledge is
considered. knowledge of every In-
sured.
(3) An employee of any Insured is con-
sidered to be an employee of every
Insured.
(4) If this insurance or any of its cover-
ages is cancelled or terminated as to
any Insured, loss sustained by that
Insured is covered only if discovered
by you during the period of time
Provided in the $)tended Period To
Discover Loss Condition E.1.f.
However, this extended period to
discover loss terminates as to that
Insured immediately upon the effec-
tive date of any other insurance ob-
tained by that Insured replacing in
whole or in part the insurance af-
forded hereunder, whether or not
such other insurance provides caw
crap for loss sustained prior to its
effective date.
(5) We will not pay more for loss sus-
tained by more than one Insured
than the amount we would pay if all
the loss bad been sustained by one
Insured.
h. Legal Action Against Us
You may not bring any legal action
against us involving loss:
(1) Unless you have complied with all
the terms of this insurance;
(2) Until 90 days after you have filed
proof of loss with us; and
(3) Unless brought within 2 years from
the date you discover the loss.
If any limitation is prohibited by law,
such limitation is amended so as to equal
the minimum period of limitation pro-
vided by such law.
i. Uberalizatiou
If we adopt any revision that would
broaden the coverage under this insur-
ance without additional premium within
45 days prior to or during the policy pe-
riod, the broadened coverage will imme-
diately apply to this insurance.
Ca0021 3.00
Copyright, I=rono Saviem Office, Inc., 1998
Page 6 of 11
,03/23/2ee4 16:23
7145767a@6
)
ARMSTRONG ROBITAT�LE
F
PAGE 10/15
Loss Covered Under More Than One
Coverage Of This Insurance
If two or more coverages of this insur-
ance apply to the same loss, we will, pay
the lesser of,
(1) The actual amount of loss; or .
(2) The sum of the Limits of Insurance
. applicable to those coverages.
k. Loss Covered Under This Insurance And
Prior Insurance, Issued By 'Us Or Any
Affiliate
If any loss is covered:
(1) Partly by this insurance; and
(2) Partly by any prior cancelled or ter•
minated insurance that -we or any
affiliate had issued to you or any
predecessor in interest;
the most we will pay is the larger of the
amount recoverable under this insurance
or the prior insurance.
Regardless of the number of years this
insurance remains in force or the number
of premiums paid, no Limit of Insurance
cumulates from year to year or policy
period to policy period.
1. Loss Sustained
Subject to the boss Sustained During
Prior Insurance Condition E.i.m., we
Will pay for loss that you sustain through
acts committed or events occurring dur-
ing the policy period shown in the Dec-
larations and discovered by you:
(1) During the policy period; or
(2) During the period of time provided
in the Extended Period To Discover
Loss Condition E, I.f.
m. Loss Sustained During Prior Insurance
(1) If you, or any predecessor in inter-
esi, sustained loss during the'period
Of any prior insurance that you or
the predecessor in interest could
have recovered under that insurance
except that the time within which to
discover loss had expired, we will
pay for it under this insurance, pro-
vided:
(a) This insurance became effective
at the time of cancellation or
termination of the prior insur-
ance; and
(b) The loss would have been cov-
etied by this insurance had it
been in elrect when the acts or
events 'causing the loss were
committed or occurred.
(2) The insurance under this Condition
is part of, not in addition to, the
Limits of•lasurance applying to•tbis
insurance and is limited to the lesser
of the amount recoverable under:
(a) This insurance as of its effective
date; or
(b) The prior insurance had it re-
maincd in effect.
n. Other Insurance
This insurance does not apply to loss, rc-
eoverable or recovered under other in.
surance or indemnity. If the limit of the
other insurance or indemnity is insuiia-
cient to cover the entire amount of the
loss, this insurance will apply to that part
of the loss, other than that falling within
any Deductible Amount, not recoverable
or recovered under the other insurance
or indemnity.
However, this insurance Will not apply to
the amount of loss that is more than the
applicable Limit of Insurance shown in
the Declarations.
o. Ownership Of Property; Interests Cov-
ered •
The. property covered under this insur-
ance is limited to property:
(1) That you own or lease;
(2) That you hold for others; or
(3) For which you are legally liable, ex-
cept for property inside the premises
of a client of yours.
CPM21 3.00
Copyright, Inow•snee Serdees Olacc, Inc., 1996 Page 7 of 11
0
0
03/23/2004 16:23 7145787486
ARMSTRONG ROBITA;LLE
,
PAGE 11/15
However, this insurance is for your bcn-
which we have paid or settled. You must
efit only. It provides no rights or benefits
also do everything necessary to secure
to any other person or organization,
those rights and do nothing after loss to
Any claim for loss that is covered under
impair them,
this insurance must be presented by you.
p. Records
t, Valuation - Settlement
You must keeprecords of all property
p p�•y
(1) Subject to section B. Limit Of In-
covered under this insurance so we cau
surance, we will pay for.
verify the amount of any loss.
(a) Loss of money but only up to
q. Recoveries
and including its face value.
We may, at our option, pay for
1
() Any recoveries, less the cost of ob-ent
loss o£ money issued by any
taming them, made after settlement
country other than, the United
of loss covered by this insurance will
States of America:
be distributed as follows:
(i) At face valve in the money
(a) To you, until you are xeim-
issued by that country; or
bursed for any loss that you
(ii) In the United States of
sustain that exceeds the Limit
America dollar equivalent
of Insurance and the Deductible
determined by the rate of
Amount, if any;
exchange on the day the
(b) Then to us; until we are reim-
Ions was discovered.
bursed for the settlement made;
(b) Loss of securities but only up
and
to and including their value at
(c) Then to you, until you are re-
the close of business on the day
imbursed for that part of the
the loss was discovered. We
loss equal to the Deductible
may, at our option:
Amount, if any.
(i) Pay the value of such se'-
(2) Recoveries do not include any re-
curities or replace them in
covery:
kind, in which event you
must assign to us all your
(a) From insurance, suretyship, re-
rights, title and interest in
insurance, security or indemnity
and to those securities; or
taken for our benefit; or
(n) Pay the any Lost
(b) Of original securities after du-
not
required in
plicates of them have been is-
with issuing
sued,
duplicates of the securities.
Terrtory
However, we will be liable
only for the payment of s6
This insurance covers acts committed or
much of the cost of the
events occutsing within the United States
bond as would be charged
of America (including its territories and
for a bond having a penalty
possessions), Puerto Rico and Canada,
not exceeding the lesser of
the:
s. Transfer Of Your Rights Of Recovery
Against Others To Us
i. Value of the securities
at the close of busi-
You must transfer to us all your rights
Hess on .the day the
of recovery against any person or organ-
loss was discovered;
ization for any loss you sustained and for
or
CRMI s•oo
coPr+'itht, tans a Services oalrn, rnb„ 1998
Page 8 of 11
03/23/2004 16:23
7145787486
ARMSTRONG ROBITATLLE
PAGE 12/15
ii. Limit of Insurance.
(c) 'Loss of or damage to other
property or loss from damage
to the premises or its exterior
for the replacement cost of the
property without deduction for
depreciation. However, we will
not pay more than the least of
The following:
(i) The Limit of Insurance
applicable to the lost or
damaged property;
(ii) The cost to replace the Iost
or damaged property with
property of comparable
material and quality and
used for the same purpose;
or
(iii) The amount you actually
spend that is necessary to
repair or replace the lost
or damaged property.
We will not pay on a replace-
ment cost basis for any loss or
damage:
(i) Until the lost or damaged
property is' actually re-
paired or replaced; and
(ii) ,Unless the repairs or re-
placement are made as
soon as reasonably possi-
ble after the loss or dam-
age.
If the lost or damaged property
is not repaired or replaced, we
will pay on an actual cash value
basis.
(2) We may, at our option, pay for loss
of or damage to property other than
o
a
money:
g(a)
In the honey of the country in
Which the loss occurred; or
(b) In the United States of America
dollar equivalent of the money
u
of the country in which the loss
ocov>Tjolt
CROON 3,00
lnwrwce services office, Inc., 1999
S
occurred determined by the rate
of exchange on the day the loss
was discovered,
(3)• Any property that we pay for or re-
place becomes our property,
2- Condition Applicable To Insuring Agreement
A.1.
Territory
We will pay for loss caused by any employee
while temporarily outside the territory speci-
fied in the Territory Condition ) .l.r. for a
period of not more than 90 days.
3. Conditions Applicable- To Insuring Agree.
ment A.2.
a. Deductible
The Deductible Amount does not apply
to legal expenses paid under Insuring
Agreement A.2.
b. Facsimile Signatures
We will treat mechanically reproduced
facsimile signatures the same as hand-
written signatures.
c. Proof Of Loss
You must include with your proof of loss
any instrument involved in that loss, br,
if that is not possible, an affidavit setting
forth the amount and cause of loss.
d. Territory
We will cover loss you sustain anywhere .
in the world. The Territory Condition
G.l.r, does not apply to Insuring Agree-
ment A•2.
4. Conditions Applicable To Insuring Agree-
ments A.4. And A.5.
a. Amtorcd Motor Vehicle Companies
Under Insuring Agreement A.5., we will
only pay for the amount of loss you
cannot recover:
(1) Under your contract with the
i mored motor vehicle company;
and
Page 9 of 11
.e3/23/2oe4 16:23 71457876.q6 ARMSTRONG ROBITArLLE PAGE 13/15
(2) From any insurance or indemnity
carried by, or for the benefit of cus-
tomers of, the armored motor vehi-
cle company.
b. Special Limit Of Insurance For Specified
Property
We will only pay up to $5,000 for any
one occurrence of loss of or damage to:
(1) Precious metals, precious or scini-
precious stories, pearls, furs, or
completed or partially completed
articles made of or containing such
materials that constitute the princi-
pal value of such articles; or
(2) Manuscripts, drawings, or records
of any kind or the cost of recon-
structing them or reproducing any
information contained in them.
5. Conditions Applicable To Iwurlug Agree-
ment A,6.
a. Special Limit 0£ Insurance Por Specified
Property
We will only pay up to $5,000 for any
one occurrence of loss of or damage to
manuscripts, drawings, or records of any
kind or the cost of reconstructing them
or reproducing any •information con-
tained in them.
b. Territory
We will cover loss you sustain anywhere
in the world. The Territory Condition
E.l.r. does not apply to Insuring Agree-
ment A.6.
P. Defruitions
I. Banking premises means the interior of that
portion of any building occupied by a banking
institution or similar safe depository.
2. Client means any entity for whom you per-
form services under a written agreement.
3. Counterfeit means an imitation of an actual
valid original which is intended to deceive and
to be taken as the original.
4. Custodian means you, or any of your partners
or members, or any employee while having
care and custody of property inside the
premises, excluding any person while acting
as a watcllperson or janitor.
5. Employee:
a. Employee means:
(1) Any natural person:
(a)
While in your service or for 30
days after termination of sec
vice;
(b)
Who you compensate directly
by salary, wages or commis-
sions; and
(c)
Who you have the right to di-
rect and control while perform-
ing services for you;
(2) Any natural person who is furnished
temporarily to you:
(a)
To substitute for a permanent
employee as defined in Para.
graph (1) above, who is on
leave; or
(b)
To meet seasonal or short-term
work load conditions;
while that person is subject to your
direction and control and perform-
ing services for you, 'excluding,
however, any • such person while
having care and custody of property
outside the premises; or
(3) Any natural person who is:
(a) A, trustee, otliicer, employee,
administrator or manager, ex-
cept an administrator or man-
ager who is an independent
contractor, of any employee
benefit plau(s) insured under
this insurance; and
(b) Your director or trustee while
that person is handling funds
or other property of any cm.
ployee benefit plan(s) insured
under this insurance.
b. Employee does not mean:
(1) Any agent, broker, person leased to
you by a labor leasing final factor,
commission merchant, consignee,
CM0021 8.00
Copyrish7 insurance Sonicts OMM, Ingo 1998
Page 10 of 11
03723/2004 16:23 7145787,g10,6 ARMSTRONG ROBITAILLE PAGE 14/15
independent contractor or represen- (1) An act or series of related acts in-
tative of the same general character•, volving one or more persons; or
or
(2) Any mannger, director or. trustee
except while performing acts coming
within the scope of the usual duties
of an employee.
6. Employee benefit plan(s) means -any welfare
or pension benefit plan shown in the Dccla-
rations that is subject to theEmployee Re-
tirement • Income Security Act of 1974
(LRISA).
7. Forgery means the signing * of the name • of
another person or organization with intent to
deceive; it does not mean a signature which'
consists in whole Or in partof one's own
name signed with or without authority, in any
capacity, for any purpose.
8. Funds means money and securides,
9• Manager means a person sciving in a direc-
torial capacity for a limited liability company.
10.. Member means an owner of a limited liability.
corripany represented by its membership in-
terest, who also may serve as a manager.
11. Messenger means you, or a relative of yours,
or any of your partners or members, or any
employee while having care and custody of
property outside the premises.
12. Money means:
a. Currency, wins and bank notes in cur.
rent use and having a face value; and
b. Travelers checks, register checks and
money orders held for sale to the public.
13. Occurrence means:
a. As respects Insuring Agreement A.1., all
loss caused by, or involving, one or more
employees, whether the result of a single
act or series of acts.
b. As respects Insuring Agreement A.2., all
loss caused by any person or in which
that person'is involved, whether the loss
involves one or more instruments.
c. As respects all other Insuring Agtee-
merits:
(2) An act or event, or a series of related
acts or events not involving any
person.
14. Other property means any tangible property
other than money and securities that has in-
trinsic value but does not include any prop-
erty excluded under this insurance.
15. Premises means tbe' interior of that portion
of any building you occupy in 'conducting
your business.
16. Robbery means the unlawful taking of prop-
erty from the care and custody of a person by
one who has:
a. Caused or threatened to cause that per-'
son bodily harm; or
b. Committed an obviously unlawful act
witnessed by that person.
17. Safe burglary means the unlawful taking of:
a. property from within a locked safe' or
vault by a person unlawfully entering the
safe or vault as evidenced by marks of
forcible entry upon its exterior; or
b. A safe or vault from inside the premises.
18. Securities means negotiable and nonnegoti-
able instruments or contracts representing ei-
ther money or property and includes:
a. Tokens, tickets, revenue and other
stamps -(whether represonfed by actual
stamps or unused value in'a meter) in
current use; and
b. ividences of debt issued in connection
with credit or charge cards, which cards
are not issued by you;
but does not include money.
19. Theft means the unlawful taking of mancy,
securities, or other property to the deprivation
of the Insured.
20. Wateltperion means any person you retain
specifically to have care and custody of prop-
erty inside the premises and who has no other
duties.
C10021 3-0e
Copyright, In=4aco ser4c" o(fce. Inc., 1999
page 11 of I
.103/23/2004 16:23 71457874 G ARMSTRONG ROBITp.�LLE PAGE 15/15
}
California Changes - Escrow Agent - CR 0150 03 00
Policy Amendment(s) Commercial Crime Coverage
This eudom ntent modifies insurance provided under the following:
Commercial Crime Coverage Form
Commercial Crime Policy
Employee Theft and Forgery Policy
A. The following is added to Section F. Definitions:
1. Employee also includes any:
a. Officer, director or cuipioyee of yours
who is not compensated when perform-
ing ads coming within the scope of the
usual duties of an officer or employee of
yours; and
employee shall not be a defense to any suit,
action or other legal proceeding against us.
B. The following is added to the Cancellation Of
Policy Condition:
b. Member of any of your committees duly
elected or appointed to examine or audit
or have custody of your property. C.
The ownership of all or a portion of the
shares of the Named insured by any
Notice of Cancellation
No cancellation of this policy, whether at your re-
quest or our request, shall take effect prior to the
expiration of 30 days after written notice of such
cancellation has been filed with the Commissioner
of Corporations.
Exclusion D.I.a. Acts Committed By You, Your
Partners Or Your Members is deletod if you are
licensed as an escrow agent'by the Commissioner
Of Corporations of the State of California.
This Form must be attached to Change Endorsement when issued after the policy is written.
One of the Fireman'* Fund tmurauce Comp,mies as named in the policy
6 etary President
Ck0150 3.00 CA
Copyrigm, Insurance Sayres Office, Inca 1959
.93/23/2004
16:23 7145787,186
ARMSTRONG ROBITA)�.LE
PAGE 01/15
TO:
FROM:
FAX COVER SKEET
ARMSTRONG/ROBITAILLE INSURANCE SERVICES
P.O. Box 34009 a Fullerton, CA 92834-9409
(714) 578-7290 • Fax (714) 626-7573
Email: svanauker@arinsurance.com
Evelyn Tseng—City of NPB VATE: 3/23/04
STEVE VAN AVKER. CPCU,CLU FAX: 949-644-3073
RE: Marinapark--Crime coverage for Bendetti Managemeut Co.
Dear Evelyn,
Here are the pages for the Crime coverages on above. If you have any questions, please get
back to me.
8 ncerelyr, f
In �--
eve Van Auker
TOTAL NO. OF PAGES (including this cover page): 15
If you did not receive all of the pages, please call sender as soon as possible.
Email at: svanaukerna,arinsurance.com
CONFIDENTIALITY NOTICE... This facsimile transmission may contain confidential information whioh Is intended only for
the use of the person(s) named above. If you are not the intended recipient, you are hereby advised that any disclosure, copying,
distribution or the taking of any action in reliunce on the contorts of this Information is prohibited. rf you have received this
transmission in error, please notify us to arrange for the return of the documents.
aVa�fWatadaa0lran+.wL•valoltc .WctO%•due
■ Complete items 1, 2, and 3. Also complete
Item 4 If Restricted Delivery Is desired.
■ Print your name and address on the reverse
so that we can return the card to you.
■ Attach this card to the back of the malipiece,
or on the front If space permits.
1. Arllcie Addressed to:
MR. Pt-TCC 61ai.ov
1-770 N. g—Iboa &I'Icl . U"—'OA
Nc P� l3ro d . Gl clzUu3
A. Signature I
X ❑ Agent I
Addressee
B. Received by (Printed Name) C. Date of Delivery
I
D. Is delivery address driferent fmm item l? ❑Yes
If YES, enter delivery address below: ❑No
3. Ice Type ei
ertified Mall
❑ Express Mall
❑ Registered
❑ Return Receipt for Merchandise
❑ Insured Mail
❑ C.O.D. t
4. Restricted Delivery? (Extra Fee) ❑ Yes
2. Article Number 1-
oninsterfrom service iabeq 7001D320 0000 7828 9658
PS Form 3811, February 2004 Domestic Return Receipt 102595-02-M-1540
UNITED STATES POSTAL. SERVICE
First -Class Mail
Postage & Fees Paid
USPS
Permit No. G-10
• Sender., Please print your name, address, and ZIP+4 In this box •
&at-yN 7seN cr
RC✓t -7"Midi
330 i, N-CT- 8wd
ra�pc� &rac)j. CA aZ
Clry or 1404Pafr 8EAC:
CITY OF NEWPORT BEACH
ADMINISTRATIVE SERVICES
Revenue Division
August 7, 2008
VIA CERTIFIED U.S. MAIL
AND FIRST CLASS U.S. MAIL
Peter Balov
1770 W Balboa Blvd., Unit 10 A
Newport Beach, CA
Ernest J. Francceschi, Jr.
445 S Figueroa, 26th Floor
Los Angeles, CA 90071
RE: NOTICE OF PAST DUE RENT
MARINAPARK MOBILEHOME PARK, UNIT 10A
Dear Mr. Balov:
Pursuant to the terms of the Mobile Home Rental Agreement dated January 1, 2008, and
the terms of the Settlement Agreement and Consent Judgment filed with the United
States District Court dated. April 11, 2008, the rental amount of $1,240.00 is due each
month on the 1st day of the month. Late payments shall be charged ten percent (10%)
interest per month. Additionally, Lessee shall pay $22.00 per month for gas, also due on
the 15t day of the month, for a total of $1,262.00..
Upon the closing of escrow on June 17, 2008, the final settlement statement of which is
attached for your reference, rent was collected through June and the next payment was
due July 1, 2008. As of the date of this letter, the City has not yet received payment and
the account is now. past due for the July and August rent payments. The total rent, gas
and fate fees due on the account is .$2,660.20. Please make arrangements to pay this
amount by Tuesday, August 19th,' 2008, or the City will be forced to take further action
to enforce the terms of the Settlement Agreement and Consent Judgment.
Payments must be made by cash or check, payable to The City of Newport Beach
and delivered to: The City of Newport Beach Cashier at 3300 Newport Blvd.,
Newport Beach, CA 92658-8915, Phone (949) 644-3121. The Cashier is available to
receive -payment Monday through Friday, between the hours of7:30 a.m. and 5:00 p.m.
3300 Newport Boulevard'. Post Office Box 1768 • Newport Beach, California 92658-8915
Telephone: (949) 644-3141 • Fax: (949) 644-3073 • www.city.newport-beach.ca.us
Peter Balov
August 5, 2008
Page 2
Thank you for your immediate attention to this matter. If you would like to discuss these
issues or schedule a meeting, please do not hesitate to contact me.
Very truly yours,
Evelyn Tseng,
Income Contract Administrator
City of Newport Beach
Enclosure
cc: Glen Everroad
Bill Mecham
1770 W. Balboa Blvd., Space 10A
Newport Beach, CA 92663
City of Newport Beach
P. O. Box 1768
Newport Beach, CA 92658
Peter Balov
do Ernest J. Franceschi, Jr.
445 S. Figueroa St.
26th Floor
Los Angeles, CA 90071
Overland, Pacific & Cutler, Inc.
100 W. BroadMy, Ste 600, Long Beach, CA 90002
Seller's Final Settlement Statement
File No: NPBO02-10A
Coordinator: Natass Lenic
Settlement Date: 06/17/2008
Disbursement Date: 06/17/2008
Charge Description
Seller Charge
Seller Credit
Consideration
$35,000.00
Pad rent: September 1, 2007-June 30, 2008 @ $1,262/month
$12.620.00
HCD fee - replacement insignia
$166.00
HCD fee - registration renewal
$547.00
HCD fee - sales tax from transfer from Weinfurtner to Balov
$645.00
Bond fee
Cash to Seller
Totals
$265.00
$20,757.00
$35,000.00
$35,000.00
CITY HALL
REVENUE DIVISION
3300 Newport Boulevard
P.O. Box 1768
Newport Beach, California 92658-8915
� RETURN SERVICE REQUESTED
UNCLAIMED
7001 0320 0000 7828 9658 1 1
Mr. Peter Balov-
1770 W Balboa Blvd., Unit 10 A
Newport Beach, CA 92663