Sutter Mitland 01, LLC Faithful Performance TM36484 1001120669FAITHFUL PERFORMANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
FOR: Streets / Drainage $ 2.040,500.00 Tract Map 364g4
Water System $ 448.500.00 Other proj. Ref. tplg-056
Rec. Water System $ 124.000.00 Bond No. 1001120669 / TCSo171963
Sewer System 371.00 .00 Premium $11.936.00Total $ 2,984,000.00
Surety U.S. Specialty lnsurance Company Principal Sutter Mitland 01. LLC
Address 801 South F toU . Suite 700 Address 3200 Park Cente r Drive. Suite
City/State Los Anoeles.City/State Costa [Vlesa
Zip code 9001 7 Zip I 2626
Phone 310-649-0990 Phone 014 427-6868
WHEREAS, the City of Menifee, State of California,and Sutter Mitland 01, LLC
(hereinafter designated as "principal") have entered into, or are about to enter into, the
attached agreement(s) whereby principal agrees to install and complete the above designated
public improvements relating to TM 36484 / lP18-056 , which agreement(s) is/are hereby
referred to and made a part hereof; and,
WHEREAS, said principal is required under the terms of said agreement(s) to furnish bond(s)
for the faithful performance of said agreement(s);
NOW THEREFORE, we the principal and U.S. Specialtv lnsurance Companv, as surety,
are held and firmly bound unto the City of Menifee in the penal sum of Two Million Nine
Hundred Eiqhtv Four Thousand and no/100, Dollars, $ 2.984.000.00 laMul money of the
United States, for the payment of which sum will and truly be made, we bind ourselves, our
heirs, successors, executors and administrators, jointly and severally, firmly by these
presents.
The condition of this obligation is such that if the above bonded principal, his or its heirs,
executors, administrators, successors or assigns, shall in all things stand to and abide by, and
well and truly keep and perform the covenants, conditions and provisions in the said
agreement and any alteration thereof made as therein provided, on his or their part, to be kept
and performed at the time and in the manner therein specified, and in all respects according
to their true intent and meaning, and shall indemnify and save harmless the City of Menifee,
its officers, agents and employees, as therein stipulated, then this obligation shall become null
and void; othenruise, it shall remain in full force and effect.
As a part of the obligation secured hereby and in addition to the face amount specified
therefore, there shall be included costs and reasonable expenses and fees, including
reasonable attorney's fees, incurred by the City in successfully enforcing such obligation, all
to be taxed as costs and included in any judgment rendered.
FAITHFUL PERFORMANCE BOND
The surety hereby stipulates and agrees that no change, extension of time, alteration or
addition to the terms of this agreement or to the work to be performed there under or the
specifications accompanying the same shall in anywise affect its obligation on this bond, and
it does hereby waive notice of any such change, extension of time, alteration or addition.
Surety further stipulates and agrees that the provisions of Section 2845 of the Civil Code and
commencement of construction are not conditions precedent to surety's obligations hereunder
and are hereby waived by surety.
When the work covered by the agreement is complete, the City of Menifee will accept the
work and thereupon, the amount of the obligation of this bond is reduced by 90% with the
remaining 10% held as security for the one-year maintenance period provided for in the
agreements(s).
lN WITNESS WHEREOF, this instrument has been duly executed by the principal and surety
above named, on Auoust 0th 2020
NATVIE OF PRINCIPAL Sutter l/itland. 01 LLC
AUTHORTZED StcNATURE(S)
By:3 <-
(lF coRPoRATtON, AFFTX SEAL)
Name:
Title:
NAME OF SURETY:U.S. Soecialtv lnsu nce Companv
AUTHORIZED SIGNATURE:
ily, lts Title
(lF coRPoRATtON, AFFIX SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY.IN.FACT.
Jul
Op.
L--rr
A notary public or other officer completing
this certificate verifies only the identity of
the individual who signed the document to
which this certificate is attached, and not the
truthfulness, accuracy, or validity of that
document.
STATE OF CALIFORNIA
SS.
COLINTY OF C)ranse
on "*"v.q<r,rSts
2t{2020, before
-,
N"t"E Prblic, personally appeared
who proved to me on the basis of satisfactory evidence to be the person(slwhose name(s)
is/arcsubscribed to the within instrument and acknowledged to me that he/sHtfrey/executed the same in
his/he#+hck authorized capacity(iesland that by his/herlthe# signature(slon the instrument the person(s),
or the entity upon behalf of which the person(+) acted, executed the instrument.
I certifu under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
MEAGAN KNECHT
NOT,
MY
JUNE 29.
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coMM. *2294992
ORANGE COUNTY
EXPIRES