KB Home Coastal, Inc. Faithful Performance Bond TP29835-2 EACX4003619FAITHFUL PERFORMANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
1,533,000.00 Project Underwood Tract No. 29835-2, -3
2 732 000.00
FOR: Streets
Drainage
Water System
Rec. Water
Sewer System
Total
2 804 000.00
$
$
$
$
$
$
Other Proj. Ref. lP18-051
Bond No. EACX4OO36j9
2 668 500.00 Premium $ 66,708.00
1.380,500.00
11,1'18,000.00
Surety Endurance Assurance Corporation
Address 4 Manhattanvil le Road
Principal
Address 36310 lnland Vallev Drive
City/State Purchase New York Cityistate Wildoma CA
zip code 10577 Zip 92595
Phone 914-468-8000 Phone (951) 691-5300
WHEREAS, 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 relatingto lPl8-051 , which agreement(s) is/are hereby referred to and made a part hereof; and,
WI-IEREAS, 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 Endurance Assurance Corporation, as surety, are held and
firmly bound unto the City of Menifee in the penal sum of Eleven Million One Hundred Eiqhteen
Thousand and no/100 Dollars,$11,118.000.00 lavvful mon ey 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; otherwise, it shall remain in full force and
effect.
KB Home Coastal lnc.,
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.
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 Auqust 21st , 2020.
NAME OF PRINCIPAL: KB Home Coastal lnc.
AUTHORIZED SIGNATURE(S)
By:
a e: Ot '>{ . ir H rnEr^ .
Title: vP, Fcr.r-.& ?\^i,nr45
(IF CORPORATION, AFFIX SEAL)
NAME OF SURETY:En u ran Assurance Cor oration
AUTHORIZED SIGNATURE
-in-Fact nda Wong, VP Titie
(rF coRPoRATrON, AFF|X SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND ATTORNEY.
IN-FACT.
FAITHFUL PERFORMANCE BOND
CAL!FORNIA ALL.PURPOSE ACKNOWLEDGMENT
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 Riverside
S nnon Luebs
On Auqust 24. 2020 before me, Shannon 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/are subscribed
to the within instrument and acknowledged to me that he/shelth€y
executed the same in his/he#lhei+ authorized capacity(ies), and that by
his/h€#their signature(s) on the instrument the person(s), or the entity
upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
SHANNOft I.UEBS
NoEry Public - Calilomia
R,reE d€ Counl
Conmrsson, 2209314
My Conft. ExBres A1,! 10,2021
(SEAL)
I certify under PENALTY OF PERJURY under the laws of the State of
California that the foregoing paragraph is true and correct.
ffi\#
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 2 12020
On _before me, R.Rangel, Notary Public, personally
app eared Brenda Wong 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 h€/she/they executed the same in
his/her/thei+ authorized capacity(ies), and that by his/her/theirsignature(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.
Signatu re
R. Rang tary Publict,
CALIFORNIA ALL.PURPOSE ACKNOWLEDGMENT CIVIL CODE 51189
(seal)
l,
I,:\
(L.-- -
l
ENDURANCE ASSURANCE CORPORATION
i1857
POWER OF ATTORNEY
l{lat altfulcn Q tieu frarrr4 $ar ENDURANCE ASSURANCE CORPORATION. a Delawre corpolaion (lhe"Coeoralion ), $ n ofices d 4 Manhafi.nville Road 3rd
Fbor, Purchase, NY 10577, has made, conslituled and appoiflled and b, these presenls does make. conslilLrle and appoi Mechelle Larkin, Kathy R. Mair, l\,ly Hua,
Brenda Wong, Tenzer V. Cunningham, Martha Gonzales. Joaquin Perez, Jeffley Strassner is rLre and lawtul Atomey(s),injacr. and each ol lhem ro hav6lull
undedaking so meds, exe.uted and d€livered shall obhgate lhe Corporauon lor any ponion ol the p€nel sum litereol in excess ol lhe sunr of TEN Ml LLION Dollars
($10,000,000,00).
n under ils corporaie sealatlested by itsCorpo6le Secrelary
and byaLrlhorilyo,cenainresolutons adopled bylhe Board olD rectors o,lhe Corporation by unanrrnous writen consenlon rheglh o,Januery 2014,
th6 headirE enliued 'C€rlitcale:
by lacs mie under and by aulhorily ol lh6lo low ng resoluton adopled by lhe Board ol D ectorc o, Ihe Corporalion by unan mous $r ll6n
January 9,osoluton hasnolsince been revoked amended or repealed
eiomey pursuant to cedain esolLrlions adopted by lhe Boerd ol oi/e.tols o,lhe Conoration by unanimous,ilr tten consenlon Januaryg 2014
and the seal oI lhe Conoralion may be afired to any sl.rh polver ol allorney 0r any cedificale relating lhereto by lacsimilq and any such
fesimile signalure or seal sha I be vald and b nding upon lh€ Corporelion n the luture wili respecl lo any bond or undenakino lo whch rl
h;ls caB€d tlEse pes€nts lo be duly srgned and ib corporale s6al lo be hercmlo alliled and alesled flis 25lh day ol JUNE ol m19 a
(Corporate Seal)ENDURAI,iCE ASSURANCE CORPORATION0""''v{/ ;",€ilfu)" fin rnSS.6b)--
STATE OF NEW YORK
COUNTY OF NEW YORK
barn lB!o*ed, emordod u flDdified
'RESo{,VED, 0H gach ol 0ts indivirud mmed teh{ is aut|o rzed b mate. exerh. s6d end d€[vs' lor ad on behdl ol lhe CoQd-abn any a$ a] bonds, un&rld(Es o.
oblhalions in Gurety or co-$mly wfi ohels:
MARIANNE L WILBERT SENIORVICE PRESIDEN]SNARON L SIMS, SENIORVICE PRESIDENT
CHRISTOPHER DONELAN, SHARON L SIMS, MARIANNE L. WILBERT
sel my hand and afli@d $€ corporat€ seallhis 21sl dayof Auoust 20'?L
named abole is aulionzed lo appoml allomeys.in-l&l lor lhe punose ol makng, execuling. sealirc and &liveting boMs, underlakiigs 0r
on behalf of $e Coeoraton "
lhe above resolutions ar€ lrue and correcl coprss ol lhe €solulions as so rccorded and oi lhe whole IhereolThe
IN WITN
wrt*L!^*,{4 }.-"1.*
CHRSTOPHER DONELAN PRESIDENT
Any rcFodrclion! t. void
Rim-r surutycl*n! Slbmish. M.lybddd.h.@$npoiii.@
Smt Chim. HoUn€ 877-016.7575
tilairdg add6: Sd6ty Clalms D.prtnqt. Sompo [n.h.tm.l, l22l Avms ol tr l[dic*, 18tn Fh.., No" Y.rt NY 10020