KB Home Coastal, Inc. Faithful Performance Bond 29835-2 024252535\!#
Fl FAITHFUL PERFORMANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
FOR: Amenities
Lighting
Planting
lnigation
Contingency
Total
c 147 000.00 Tract Map 29835-2
Other Proj. Ref tP18-0521
Bond No. 024252535
Premium $ 18,333.00
1
$
s
a
508 000.00
253 500 00
638 000 00
509,000.00$
$3.05 5 500.00
Suret Libe Mutual lnsurance Com panv Principal KB Home Coastal. lnc
Address 175 Berkelev Street Address 36310 lnland Vallev DriveCity/State Boston, MA City/State Wildomar CA
Zip code
Phone
02116 Zip 92595
617-357-9500 Phone (951 ) 258-4890
WHEREAS, the city council of the city of Menifee, state of california, and KB Home
Coa stal. lnc.(hereinafter designated as "principal") have entered into, or are about to enterinto, the attached agreement(s) whereby principal agrees to install and com plete the above
desi
--r\
public improvements relating to
is/are hereby referred to and made a part he
Tract 29835-2
reof; and,
, which agreement(s), dated
WHEREAS, said principal is required under the terms of said agreement(s) to furnish bond(s)
for the faithful performance of said agreement(s);
NOW, THEREFORE, we the principa
, as surety, are held and firmly bound unt
I and Libertv Mutual lnsurance Comoa n
o the City of Menifee in the penal sum of Three
Million Fiftv Five Thousand Five Hundred and no/100 Dollars, ($ 3.055,500.00) 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, andwell 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; 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 of Menifee 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 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.
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 g0% with the
remaining 10% held as security for the one-year maintenance period provided for in the
agreement(s).
IN WITNESS WH
above named, on
EREOF, this instrument has been duly executed by the principal and surety
Mav 25th 2021
NAME OF PRINCIPAL: KB Home Coastal lnc
By:
me Haneen
Title:Vice Preaidcnt, Ferwrrd ptmttr
(lF coRPoRAT|ON, AFFTX SEAL)
NAME OF SURETY: Libe t I lnsurance Com an
Brenda Wono, VP
ts rney-in-Fact Title
(rF coRPoRATrON, AFF|X SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY.IN-FACT.
AUTHORTZED SIGNATURE(S):
AUTHORIZED SIGNATURE:
CALIFORNIA ALL.PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this certiflcate verifles only the identity of the individual
who signed the document, to which this certificate is attached, and not the truthfulness, accuracy,
or validi of that document.
On siaol>r before me,Shanno n Luebs , Notary Public,
personally appeared Scott Hansen, who proved to me on the basis of
satisfactory evidence to be the person(s) whose name(s) is/a+e subscribedto the within instrument and acknowledged to me that he/shelthey
executed the same in his/he#thei+ authorized capacity(iras), and that by
his/he#th€i+ signature(s) on the instrument the person(s), or the entity
upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALry OF PERJURY under the laws of the State of
California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
SI1AHNON IUEES
Nolary Publ( - C. dorira
RNe|!,ca Couiu
Col'1li,ss,o. . 22093,14
lry com Expres A4 10 2o2r
Shannon Luebs (SEAL)
State of California
County of Riverside
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
County of Los Anseles
on MA\ 252t21 before me, M.Gonzales , Notarv Public, personally
appeared Brenda Wong who proved to me on the basis of satisfactory
evidence to be the person(s) whose name(s) is/a+esubscribed to the within
instrument and acknowledged to me that he/she/they executed the same in
his/her/the* authorized capacity{ies}, and that by his/her/thei+signature(s) on
the instrument the person(s), or the entity upon behalf of which the person(s)
acted, executed the instrument.
I certify 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.
(seal)Signature 7n
M.Gonzales,ary Public
M,60NZAI,€S
Notdry Prrblc - California
Los An9.ler County
Commbron t 22t3618
My Comn. ErphetO(l 5.202t
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE 511S9
Liberty l\4utual lnsurance Companv
The Ohio Casualty lnsurance Company
West American lnsurance Company
Cedilicale No: 8204866
POWER OF ATTORNEY
KNOWT'I ALL PERSoNS BY THESE PRESENTS: That The ohio Casualty lnsurance Company is a corporatroi duly oqanlzed under lhe laws ol the State of New Hampshire, that
Liberty l\,4utual Insurance Company is a coryoElion duly organized under lhe laws ol the State ol lvassachusetls, and Wesl Ame can lnsurance Company is a corporation duly
Brenda Wong
all of lhe civ of les state of Californie each individually if there be more lhan one named ils true and laMul atlomey-injact lo
Libertv
Mutudl"
SURETY
This Powerof Attorney limits theacts ol those named herein, and they have no authority to
biod the Company except in the manner and to the extenl herein staled.
pLrGuance ol these presenb and shall be as bindrng upon lhe Companies as f they have been d uly signed by the president and attested by the sec.etary of the Companies in their
own prcper persons
lN WTN ESS WHEREoF, th s Power of Attorney has been s! bscribed by an autho zed off cer or official of the Companies and the corporate seals of the Companies have been affixed
thereto this 1 5th day of February. 2021 .
Liberty l\,lulual lnsurance Company
The ohio Casualty Insurance Company
Wesl American lnsurance Company
By
David lll Carey. Assrstanl Secretary
STATE OF PENNSYLVAN IA
C0UNTY 0F I\4ONTGOMERY
ss
Commonw*llh ol Pennsylvan a ' NoLry S@l
Torssa Paste la. l\lolary Pubric
MonlAomery Counly
My mmmissim oxp res Mdch 28 2025
Commission number 1 126044
0,,- /-fr0L
frA'*
0n this 15lh day ofFebrar,2021, before me personally ap peared David lt4 Carey who acknowledged himselfto be lhe Assrslant Secretar oi Liberty Mutualinsurance Company,
The ohio Casualty Company. and Wesl Ame can lnsurance Company, and lhal he, as such. being aulhodzed so to do, execute lhe loregoing inslrument for the purposes therein
conlained by signing on behalf olthe coryoralrons by himself as a duly aulhorized officer
lN WTNESSWHEREOF,I have hereunto subscribed my name and affixed my nolaralsealat King of Prussia, Pennsylvania, on lhe dayand yearfirsl above writlen.
By
Teresa Pastella Notary PublicMefrbe. Pei^srvdn€ Asecaxon ol Nolaies
lnsurance Company, and West Amedcan lnsurance Company which resolutrons a.e now in fLrll{orce and effect.eading as followsl
ARIICLE lV - OFFICERST Section 12 Power of Atlorney
Any officer or olher official of the Corporalion aulhorized for thal pueose in writing by the Chairman or lhe Presidenl and sublecl to such limrtation as lhe Chairman or the
shall have full power to bind the Corporation by lherrsrgnalure and erecution ofany such instumentsand to attach thereto thesealofthe Corporatron. When so execuled, such
provisions ol lhis artcle may be revoked at any time by the Board, the Chairman the President or by lhe offrcer or officeB grantng such power or autho ly.
ARTICLE Xlll . Erecution of Conkacts: Seclion 5. Surety Bonds and Undertakings.
shallappoint such altomeys-injact. as may be necessary to act in behalf ofthe Company to make. erecute, seal. acknowledge and deliveras surety any and allundertakings.
lhe Company by theirsignalure and execution of any such inslruments and toaltach thereto thesea oflhe Company When so execuled such inslruments shallbe as binding
as if signed by lhe president and attesled by lhe secretary
infacl as may be necessary lo act on behalf ol lhe Company lo make. e)(ecule seal acknowledge and deliver as surety any and all undedakings, bonds, recognizances and olher
surely obligations.
of the Company, wherever appearing upon a cedified copy ol any power of altorney issued by lhe Company in connection wlh surely bonds, shall be valid and binding upon the
Company with lhesame Iorce and effect as though manually affixed
do hercby certify that thls power of altorney executed by said Companies rs in lullforce and effect and has not been revoked
lN TESTIIiIONY WHEREOF,I have hercunto setmy hand and affixed lheseals of said Companies this
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day of [,1ay 2021
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M.rsh Mslrery POA LIVICOCICWAC Muli Co 022021
By
Renee C. Llewellyn Assislanl Secrelary
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,//ry't 9'19 1991