Forestar (USA) Real Estate Group, Inc. Faithful Performance Bond TR36852 800042854FAITHFUL PERFORMANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
FOR: Streets and Drainage $422 500.00 Tract Map TR 36852
Other Proj. Ref lP20-024
1
Riv. Co. Flood Control $N/A
Water System
Rec. Water
Sewer System
Total
City/State Plvm outh MN
Zip code 55441 Zip 76006
Phone 952 852-2431 Phone: (817) 769-1867
WHEREAS, the City Council of the City of Menifee, State of California,and Forestar (USA)
Real Estate Group, lnc.(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 TR 36852 I lP20-024, whichagreement(s),dated-,is/areherebyreferredtoandmadeaparthereof;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 Atlantic Specialty lnsurance Company, as
surety, are held and firmly bound unto the City of Menifee in the penal sum One Million Four
Hundred Twe ntv Nine Thousand Five Hundred and 00/100 Dollars 429 500.00 lawful
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.
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 of Menifee in successfully enforcing such
obligation, all to be taxed as costs and included in any judgment rendered.
Sufety Atlantic Specialtv lnsurance Comoanv
Address 605 Hiqhwav 169 North. Suite 800
Bond No. 800042854
Premium $5.003.00
Principal: Forestar (USA) Real Estate Group. lnc.
Address: 2221 E. Lamar Blvd Suite 790
City/State: Arlinqton, TX
$ soo.oo$ N/A$ 6.s00.00$ 1.429.500.00
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(s) 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; otheruise, it shall remain in full force and effect.
FAITHFUL PERFORMANCE BOND
The surety hereby stipulates and agrees that no change, extension of time, alteration or
addition lo the terms of the agreement(s) 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 to the
terms of the agreement(s) or to the work or to the specifications..
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.
lN WITNESS WHEREOF, this instrument has been duly executed by the principal and surety
above named,on May 6,2021
NAME OF PRINCIPAL: Forestar (USA) Real Estatg Group, lnc.
By
N a me:cr'-lt:K
Title: CEO
(rF coRPoRATtON, AFFTX SEAL)
NAME OF SURETY: Atlantic Specialty lnsurance Company/Z/zZf-
Noah William Pierce, Attorney-ln-Fact
(rF coRPoRATrON, AFFrX SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY-IN.FACT.
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When the work covered by the agreement(s) 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
agreement(s).
AUTHORTZED STGNATURE(S):
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STATE OF North arolina
COUNTY OF Mecklenbura to wit:
l, Catherine Thomoson, a Notary Public in and for the State and County aforesaid, do hereby certify
that Noah William Pierce, whose name is signed to the foregoing bond this day personally,
appeared before me in my said State and County aforesaid and acknowledged the same.
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Given under my hand this a' day of lnu , 2021 .
on the gth day of Aoril, 2022.
Notary Seal
My commission expires
Notary
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