Pardee Homes Faithful Performance Bond TM32277-3 PB03010406668FAITHFUL PERFORMANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
FOR: Streets and Drainage $ 2,149,000.00 TracVParcel Map 32277 -3
Bond No. PB03010403668
Premium s 12.294.00
'Flood Control $
Dom Water System $
Sewer System
Total
Rec. Water System $13.0.00
0.00
350.000.00
$ 56 1.500.00$ 3,073,500 00
Surety Philadelphia lndemni ty Insurance Compan)Principa I Pardee Homes
AddreSS 251 S. t,ake Avenue Suite 360 AddreSs 1250 Corona Poinre, Suite 600
City/$(glg Pasadena. CA City/$lg{g Corona. CA
Zip 9l I05 zip 92879
Pheng 949-252-4400 Phone 9s l-428-4435
WHEREAS, the City of Menifee, State of Catifornia,and Pardee Homes
(hereinafier designated as "principal") have entered into, or are about to enter into, the
NOW, THEREFORE, we the principa ; 2n6 Philadelphia lndemnity lnsurance Conrpany , as surety,
attached agreement(s) wherebylorincipal agrees to install and complete the above designatedpublic improvements relating lo Tracl32277 -3, which agreement(s) is/are hereby referr6d toand made a parl 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);
are held and firmly bound unto the City of Menifee in the penal sum of Three
Three Thousand Five Hundred and no/100. Dot
United Slates, for the payment of which sum will a
Million Seve nty
lars, $ 3.073.500.00 , lawful money of the
nd truly be made, we bind ourselves, ourheirs, successors, executors and administrators, joinfly and severally, firmly by thesepresents.
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, andwell and truly keep an<i 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, otherwise, 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.
9/8/t5
The surety hereby stipulates and agrees that no change, extension of time, alteration oraddition to the terms of this agreement or to the work to be performed there under or thespecifications accompanying the same shall in anywlse affect its obligation on this bond, andit does hereby waive notice of any such change, extension of time, al-teration or addition.Surety further stipulates and agrees that the provisions of Section 2845 of the Civil Code andcommencement of construction are not conditions precedent to surety's obligations hereunderand are hereby waived by surety.
when the work covered by the agreement is complete, the city of Menifee will accept thework and thereupon, the amounl of the obligation of this bond is reduced by 90% wiih theremaining 10% held as security for the one-year maintenance period provided for in theagreements(s).
lN wlrNEss WHEREOF, this instrument has been duly execuled by the principal and suretyabOVe named, On Januaq 24rh 2017 '
FAITHFUL PERFORMANCE BOND
NAME OF PRINCIPAL: Pardee Homes
AUTHORIZED SIGNATURE(S)
By
Je{+ Cnarnb>e.rS
Title:VP Cor-am.*-rr +t< Der',atoP rr'ent-
(tF coRPoRAT|oN, AFFTX SEAL)
NAME OF SURETY:Philadelphia Indemnity Insurance Compan]
AUTHORIZED SIG a Monroe, Aftomey-ln-Fact
A -in-Fact Trtle
(rF coRPoRATtoN, AFFTX SEAL)
AfiACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY.IN-FACT.
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EI
ALL. PURPOSE
CERTIFICATE OF ACKNOWLEDGMENT
A notary public or other ofricer completing this certificate verilies only theidentity of the individual who signed the document to which this cerlificateis attached, and not the truthfulness, accuracy, or validity of that document.
State of California
Oranqe
I certify under PENALTY oF PERJURY under the laws of the state of california that
the foregoing paragraph is true and correct.
on JAN 2 A 201? before me, Brianne Davis,_lolary Plblic
personally appeared Janina Monroe
who proved to me on '
name$) is/g1q subscribed to the within instrument and acknowledged to me that
hr/she/tloy execuled the same in hh/her/&eir authorized capacity(irrx and that byhb(her&nir signature{oi on lhe instrument the person(d, or tne eniity upon behalf of
which the person{ol acted, executed the instrument.
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)
WITNESS my hand and official seal.
IMA
Notary Public Signature
o
z e
BRIAI{NE DAVIS
Commls3lon No. 2017i52
NOIARY PU8[-tC{a!tFoR tA
OiANGE COUr'tTy
rly Corm. e4tt. ApR[- t. irriT
ADDITIONAL OPTIONAL INFORMATION
DESCRIPTION OF THE ATTACHED DOCUMENT
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NunrberofPages J DocumenlDate t la4 11
INSTRUCTIONS FOR COMPLETINC THtS FORM
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cal-tFoRNta aLL-PURPOSE ACKI{OWLEDG E T CtVtL CODE S 1189
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A notary public or other otficer completing this certificate verifies only the identity of the individual who signed the
document to which this certificate is attached, and not the truthfulness, accuracy, or validity o, that document.
County ol Riverside
On January 26.2017 berore me,Ana E. Chavez Perez, Notary Public
Date
personally appeared
Here lnseft Name and Title of the Officer
Jeff Chambers
who proved to me on the basis ot satisfactory evidence to be the personh) whose name(t) is/ffg
subscribed to the within instrument and acknowledged to me that helohsthry executed the same in
hislbodllmi authorized capacity(iqr, and that by hisrhqxrhfr signatureh) on the instrument the person($,
or the entity upon behalt of which the person(6) acted, executed the instrument.
ANA E, CHAVEZ PEREZ
NOTARY PUBLIC. CALIFORNIA
coMMTSSION # 2107702
RIVEBSIDE COUNTY
My Comm. Exp. Aprit 19,20.t9 Signatur
Signatu
Place Notaty Seal Above
OPTIONAL
Though this section is optional, completing this information can deter alteration ot the document or
fraudulent reattachment of this form to an unintended document.
Description of Attached Document
Title or Type of Document:
Document Date:Number of Pages
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer(s)
Signer's Name:
E Corporate Officer - Title(s):! Partner - tr Limited ! General
D lndividual ! Attorney in Fact
E Trustee ! Guardian or Conservator
[l Other:
Signer ls Representing:Signer ls Representing:
,ca&\4@
O20'15 National Notary Association ' www.NalionalNotary.org ' 1-800-US NOTABY (1-800-876-6824 ltem #5907
State of California
Name(s) of Signer(s)
I certify under PENALTY OF PEBJURY under the laws
of the State of Calirornia that the ,oregoing paragraph
is true and correct.
WITNESS my hand and official seal.
Signer's Name:
n Corporate Otficer - Title(s):
D Partner - ! Limited ! General! lndividual ! Attomey in Fact
D Trustee ! Guardian or Conservatorf Other:
-