HomeMy WebLinkAboutSunset Knolls Sec. II
Fidelity and Deposit Company
HOME OFFICE OF MARYLAND BALTIMOR.E, MD. 21203
BOND NO. 58 58 610
KNOI-l ALL MEN BY THESE PRESENTS:
That we, SUNSET KNOLLS DEVELOPMENT CORl'ORATION, MAIN STREET,
MATTITUCK, NEW YORK, hereinafter called the Principal, and
FIDELITY AND DEPOSIT COMPANY OF MARYIJU~D, a corporation organized
and existing under the laws of the State of Maryland with an office
and usual place of business at 140 WILLLMl STREET, NEW YORK, NEW
YORK, hereinafter called the Surety, are held and firmly bound
unto the TOWN OF SOUTHOLD, NEW YORK, hereinafter called the Obligee,
in the sum of SIXTY EIGHT THOUSAND AND 00/100 - - ($68,000.00) DOLLARS,
lawful money of the United States, for the payment whereof to the
Obligee the Principal binds itself, its heirs, executors, adminis-
trators, successors, and assigns, and the Surety binds itself,
its successors and assigns, jointly and severally, firmly by these
presents.
SIGNED, SEALED AND DATED THIS 20th DAY OF MARCH, 1970.
WHEREAS, at a regular meating of the Southold Town Board held
on October 7, 1969, the Board voted to adopt a resolution fixing
the amount of the bond required of the Principal in the amount of
SIXTY EIGHT THOUSAND AND 00/100 ($68,000.00) DOLLARS, for the com-
pletion of roads, curbing, drainage, etc., in the subdivision known
as "SUNSET KNOLLS, SECTION 2", SOUTHOLD, NEW YORK and;
WHEREAS, fOnal approval has been granted the Principal for the
above described subdivision and;
WHEREAS, said approval was given subject to the execution and
posting of a Performance Bond by the Princi~al in the amount of
SIXTY-EIGHT THOUSAND AND 00/100 ($68;000.00) DOLLARS, guaranteeing
the completion of certain public improvements consisting of roads,
curbing, drainage, etc., more fully described in the resolution
approving this subdivision.
NOW, THEREFORE, the condition of this obligation is such that
if the Principal shall, within the period of two (2) years from
date of this bond, well and truly complete the installation of
the public improvements hereinabove described in accordance with the
specifications as required by the PLANNING BOARD OF THE TOWN OF
SOUTHOLD, LONG ISLAND, NEW YORK, then this obligation is to be
null and void; otherwise to remain in full force and effect.
By:
OLLS DEVELOPMENT CORl'ORATION
Lo.
FIDELITY AND DEPOSIT COMPANY OF MARYLAND
By: (>hn/hz ~x{ ?
M. V. McGRATH, ATTORNEY-IN-FACT
G1121-30M, 10-66 17t541
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Fidelity and Deposit Company
HOME OFFICE OF MARYLAND BALTh:11.0RE, MD. 21203
STATE OF NEW YORK }
COUNTY OF__..____~m~<:lJ:ti\:__oo_m_ ss:
20th MARCH 70
On them_mu__u..mm__u___m__m.__m._m.mm_day oL_moo_mm__oom...oo_m__m_._mm__oo__.moooooooo 19_m_moooo' before me
personally cameoo____l1oo~_..Y._~m~.c:_c;.:R.1I:~}1oom__..mmm___..m_m______.__oooooooo__, to me known, who being by me duly
sworn, did depose and say, that he resides aLm__e~()Pp,A,~.u:g<:lA._IJoo~m~_.:3.J:~~oo____oomoo_______m__
in the County ofu______________L.l~0H.F.l;E;JdP._m_oo____oo_u__m.m___' State of__u___QQ~:F;_C;~:rg:rr~___.m..__.__________..._.___,
that he is Attorney-in-Fact of the Fidelity and Deposit Company of Maryland, the corporation described in
and which executed the within instrument; that he knows the corporate seal of said corporation; that the
seal affixed to said instrument is such corporate seal; that it was so affixed by order of the Board of Directors
of said corporation, and that he signed his name thereto by like order; and that the Fidelity and Deposit Com-
pany of Maryland is duly authorized to transact business in the State of New York in pursuance of the
statutes in such case made and provided; that the Superintendent of Insurance of the State of New York
has, pursuant to Chapter 28 of the Consolidated Laws of the State of New York, known as the Insurance
Law, issued to the Fidelity and Deposit Company of Maryland a Certificate of Solvency and of qualification
to become surety or guarantor on all bonds, undertakings, recognizances, guaranties and other obligations
required or permitted by lMo'Cl\8B:INt!hllt Baobll:tAtificate has not been revoked.
NOTARY P!J:~: '~, 3t:>t of New York ..
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hrm LX.' ,,,, ..,\:r 30, 1971 Notary Publ~c
At a regular meeting of the Executive Committee of the Board of Directors of the Fidelity and Deposit
Company of Maryland, held in its office in the City of Baltimore, State of Maryland, on the 4th day of
December, 1969, the following Resolution was unanimously adopted:
"RESOLVED, That W. E. Henderson, Jr., Frank P. Robertson, James M. Grant, M. V. McGrath,
John L. Brissel, D. R. Buonomo, C. C. Lewis, James J. D'Amico, A. A. Cella, M. S. Lennon, Joseph
E. Dacunto, P. L. Fallot, Robert J. Frey, Robert T. Mobyed, L. V. Pisacreta and Dorothy M. Troy,
of the City of New York, State of New York, be, and each of them is hereby appointed Attorney-in-Fact of
this Company in the State of New York, and authorized, and empowered, acting alone, to execute and deliver
and attach the seal of the Company to any and all bonds or undertakings for or on behalf of this Company
and any and all reinsurance agreements covering bonds or undertakings, also to perform any and all acts for
or on behalf of this Company in its business of guaranteeing the fidelity of persons holding places of public or
private trust and the performance of contracts other than insurance policies, and executing and guaranteeing
bonds, consents to orders and waivers of citation in proceedings in which this Company is a party, or other
undertakings required or permitted in all actions or proceedings or by law required, and to attach thereto
the seal of the Company.
"And Be It Further Resolved, That the above named Attorneys-in-Fact, and each of them is, further
authorized and empowered to certify under the seal of this Company, to this Resolution within the limits
hereinbefore specifically prescribed for each.
"This Resolution revokes that of August 7,1969, in behalf of W. E. Henderson, Jr., Frank P. Robertson,
James M. Grant, M. V. McGrath, John L. Brissel, D. R. Buonomo, C. C. Lewis, James J. D'Amico,
A. A. Cella, M. S. Lennon, Joseph E. Dacunto, P. L. Fallot, Robert J. Frey, Robert T. Mobyed, L. V.
Pisacreta and Dorothy M. Troy."
I, C. M. Pecot, Jr., Assistant Secretary of the Fidelity and Deposit Company of Maryland, have compared
the foregoing Resolution with the original thereof, as recorded in the Minute Book of said Company and do
hereby certify that the same is a true and correct transcript therefrom, and of the whole of said original
Resolution, and that the authority granted to the individuals specified in said Resolution of December 4, 1969,
is in full force and unrevoked as of this date.
Given under my hand and the seal of the Company, at the Ci;y..of New York, thisuu_?9.~_e.__uu__________
day oL__oo_J'!AEQfL___________ooooum_um_uuI9oo.z()_~oo .
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the corporation described in and which executed the foregoing instrument; that he knows the corporate seal of said corporation;
that the seal thereto affixed is such corrorate seal; that it was so affixed by order of the Board of Directors, and that he signed his
name thereto by like order.
NY2305-2500, 184422
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Ll458-30M,1.70 184747
FIDELITY AND DEPOSIT COMPANY
OF MARYLAND
Financial Statement
DECE}IBER 31, 1969
UI
ASSETS
'Bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
'Stocks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Real Estate. . . . . .' . . .... ...... ........ ...... .........
Cash in Banks and Ollices. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Premiums in Course of Collection (less than 90 days old). . . . . . . . . . . . .
Reinsurance and Other Accounts Receivable. . . . . . . . . . . . . . . . . . . . . . . .
TOTAL ADMITTED ASSETS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
LIABILITIES, SURPLUS AND OTHER FUNDS
Reserve for Unearned Premiums. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . .. . .
Reserve for Claims and Claim Expenses. .. . . . . . . . . . . . . . . . . . . . . . . . . .
Reserve for Taxes and Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Notes Payable.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Miscellaneous Reserves and Other Liabilities. . . . . . . . . . . . . . . . . . .
TOTAL LIABILITIES..........................................
Capital Stock, Paid Up. . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,000,000.00
Surplus. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 78,407,344.06
Surplus as Regards Policyholders.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
TOTAL. . .. .. . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . .. . . . . .. .
$29,379,300.84
98,328,185.63
4,065,499.87
5,709,834.90
6,515,267.35
1,870,567.26
$145,868,655.85
$33,051,027.29
11 ,623,097 .00
1,626,090.32
15,500,000.00
661,097.18
62,461,311.79
83,407,344.06
$145,868,655.85
Securities carried at $1,449,952.36 in the above statement are deposited as required by law.
'Securities carried on the basis prescribed by the National Association of Insurance Commissioners. On
the basis of December 31, 1969 market quotations for all bonds and stocks owned, this Company's total
admitted assets would be $138,080,406.10 and surplus as regards policyholders $75,619,094.31.
I, HARRY Y. WRIGHT, Treasurer of the FIDELITY AND DEPOSIT COMPANY OF MARYLAND, do hereby certify
that the foregoing statement is a correct exhibit of the assets and liabilities of the said Company, on the 31st
day of December, 1969, according to the best of my information, knowledge and belief.
._ __ ___ ___ ____~I!!D'_X:_ ~:~g~!__,
Treasurer
\fSS:
"
"
Subscribed and sworn to, before me, a Notary Public of the State of Maryland in the City of Baltimore,
this 29th day of January, 1970.
STATE OF MARYLAND
CITY OF BALTIMORE
Notarial
Seal
Elenor K. Mitchell
Notary Public
My commission expires July 1, 1970