KB Home Coastal, Inc. Faithful Performance Bond TM29835 024254396Ft^SL
FOR: Landscape
lrrigation
Construction
Contingency
Total
FAITHFUL PERFORMANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
29 000.00 Tract Map
50 000.00 Other Proj. Ref tP'19-0431
78 000 00 Bond No.
Premium
024254396
31 500.00 $ 1,131.00
$188 500.00
$
$
$
$
Surety Liberty Mutual lnsurance Company
AddfeSS 175 Berkeley Street Address 36310 lnland Vallev Drive
City/State Boston [4A City/State Wildomar CA
zip code 021i6 zip 92595
Phone 617-357-s5oo Phone (951) 258-4890
WHEREAS, the City Council of the City of Menifee, State of California, and KB Home
Coastal. 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 Jfes!29!!!!5-, which agreement(s), dated Ausust
16,2021, is/s1s 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 Liberty Mutual lnsurance Company , as surety,
are held and firmly bound unto the City of Menifee in the penal sum of One Hundred Eiqhtv
Eiqht Tho and Five Hundred and no/100 , Dollars, ($ 188.500.00) 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.
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; 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.
29835
Principal KB Home Coastal. lnc.
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 ol 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 90% with the
remaining 10% held as security for the one-year maintenance period provided for in the
agreement(s).
lN WITNESS WHEREOF, this instrument has been duly executed by the principal and surety
above named, on August '18 2021
NAME OF PRINCIPAL: KB Home Coastal, lnc
AUTHORIZED SIGNATURE(S):
By:
Name
Title:
NAME OF SURETY:Libe
nrv..l3
(IF CORPORATION, AFFIX SEAL)
Company
AUTHORIZED SIGNATURE Brenda Won
ey-in-Fact Title
(IF CORPORATION, AFFIX SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCTPAL AND
ATTORNEY{N-FACT.
Mutu
STATE OF California )SS
COUNTY OF Riverside
On Auoust 19- 2021.before me, Christina Villa, 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/are subscribed to the within instrument and acknowledged to me that he/she/they executed
the same in his/her/their authorized capacity(ies), and that by his/her/their signature(e) 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,
my hand and official sealWITN
@,-,i
cHRls1lNA vltu
Notlry Publl(' Callfornlr
Rlvrrrid. County
Conmlllion I 2!21125
Coftln. Expir.l F.b 11, 2024
I
My Commission Expires:February 13, 2024
Notary Reg istration Number: 23213
Business: Riverside
This area for official notarial seal
Notary Phone:(951) 591-5 0
County of Principal Place of
Mail Tax Statements To: SAiIE AS ABOVE or Address Shown Below
A nddy pt/Uh or otllor olfioor codrpleting thb cortifEale voriffB only ths idsfity ol $o individual who r$gn€d tho
do(rlmet to which thb codificato is attacfiad, and nol tho truthfuh6es, accuracy, or valirity ot that documo,tt.
Notary Name: Christina Villa
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE 51189
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 Angeles
AUG I8 202'
On before me,M.Gonzales,Notarv Public,personally
app eared Brenda Wons who proved to me on the basis of satisfactory
evidence to be the person(s) whose name(s) is/a+e-subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/theicsignature(5) 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.
(sea l)Signatu re l t
M.Gonzales,ota ry Pu blic
M 6ONZATES
NoLn)lJubh( antiforno
Lo! lng(,tr\ (ouar
Commi\jion r 22 t:16MyComrn t'xt)i,.r Ort \
28
, tul
WITNESS my hand and official seal.
Libertv
Mutudl.
This PowerofAtbrney limits the acts oflhose named hereln, and they have no authorityto
bind the Company except in the manner and to he extenl herein stated.
Liberty [rutual lnsurance Company
The Ohio Casualty lnsurance Company
West American lnsurance Company
Certflcate No 8204866SURETY
POWER OF ATTORNEY
KNOWN ALL PERSoNS BY THESE PRESENTS: That The ohio Casualty lnsurance Company is a coForaton duly ooanized under the laws of the State of New Hampshirc, that
Libedy l\,4utual Insurance Company is a comoralion duly organized under lhe laws of the Stale of [4assachusetts, and Wesl American lnsurance Company is a corporation duly
Brenda Wonq
allof the city of Los Anqeles . state of eallEmia eaohindlvidrjall y if the.e be more than one named, its true and lawful attomey-in'fact to
pursuance of these presenb and shall be as binding upon the C ompanies as f lhey have been duly slg ned by the president and attested by the secretary ol the Companies in lheir
own prcper peEons
lN WTNESS WHEREOF, this Power of Allorney has been subscribed by an authorized oflicer or officialol lhe Companles and the corpolale seals of the Companies have been aff xed
thereto this 1sth day ofFebruary, 2021
Libedy luutual lnsurance Company
The ohio Casually lnsurance Company
West American lnsurance Company
By
David l\,1 Carey Assislant Secretary
STATE OF PENNSYLVANIA
COUNTY OF MONTGOMERY
ss
0n this 15th day of February,2021, before me personally appeared oavid lV Carey, who acknowledged himself to be the Assistanl Secretar of Liberty [4utuallnsu.ance Company,
The ohio Casualty Company, and West American lnsurance Company, and thal he, as such being aulhorized so to do, execute the forgoing inslrment for lhe purposes therein
contained by signing on behalf of the corporations by himself as a duly autho zed officer.
lN WTNESS WHEREoF,I have hereunto subscribed my name and amxed my nola alsea at King of Prussia, Pennsylvania on lhe dayand yealfiBt above written.
cmm.k8lrh ol Pennsvlvanb - Notary S@1
T666a P6srB la. NolaryPublc
Montoomery County
My mmmissim dptres March 28 2!25
Comnisslon nLrmber 1 1260rs
D,^ /-rt//,By
Teresa Pastella, Notary Public
Mc mbe r Penn sylvania Ascdlioi ol Nola d.3
This Power ot Atorney is made and executed pursuanl to and by authonty of the following By-laws and Authori2aUons ofThe 0h o Casualty lnsurance Company, Liberty ltlutual
lnsurance Company, and West American Lnsurance Company which resolutions are now n full force and erfect reading as follows:
ARTICLE lV- OFFICERST Seclion 12 Polver of Atlorney
Any officer or other official of the Corporation auhonzed Ior lhal purpose in wriling by the Chairman or the Prcsident and subjecl to such limitation as the Chairman or the
President may prescnbe. shall appoint such attorneys-in{act, as may be necessarlo act in behalfofthe Comolation lo make, execute, sea , acknowledge and deliveras surety
shall have iull power to bind theCorporation bytherrsignaturc and execution ofany such instruments and to atlach thereto thesealollhe Corporaton. Whensoexecuted, such
provisions of this arlicle may be revoked at any trme by the Board, the Chai.man,lhe Prcsidenl or by the oflicer0r omcels gmnting such power or authority.
ARTICLE Xlll , Execution of Conkacls: Se.tion 5 Surcty Bonds and Undedakings.
shallappoint such attomeys-inJact, as may be necessary to acl in behalf of the Cdnpany to make. execule, seal, acknowledge and deliver as surety any and all undertakings,
the Company by thelrsignature and execution of any such insltuments and to attach thereto thesealofthe Company. When so executed such instrumenls shallbe as binding
as ifsigned by the president and attested by the secretary.
infacl as may be necessary to act on behalf of lhe Company to make. execule, seal, acknowledge and deliver as surety any and all undertakings bonds, recognizances and other
surely obligations.
of the Company, iherever appearing upon a certified copy ol any power of attorney issued by lhe Company in conneclion w(i surcty bonds, shal be valid and binding upon the
Company wilh lhe same force and effect as though manually afflxed.
do heaeby ce fy that this power of altorney executed by said Compan es is in full iorce and effect and has nol been revoked
lN TESTIMONY WHEREOF, I have hereunto sel my hand and affixed theseals of said Companies th s
-l!!h
day of August
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Marsh Msu.ety POA LMTCOC C WAIC MuliiCo 022021
By
Renee C Llewellyn, Assistanl Secretary
2021
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