KB Home Coastal, Inc. Faithful Performance Bond TM30142-1 1145785FAITHFUL PERFORMANCE BOND
CIry OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
Channel
FOR: Streets and Drainage
Water System
Sewer System
Surety Berkley Regional lnsurance Company
AddfeSS 505 N. Brand Blvd.. suite'1040
$
$
$
1.200.500.00 TracVParcel Map
Bond No. 11,15785
Premium $2i.ooe.oo
KB HOME Coastallnc
30142-'1
Principal
Address 36310lnland Valley Drive
City/State Lllenclale. cA City/State V,{ldomar. CA
zip code 91203 Zip 92595
Phone ere-ssutos Phone ssr-rer-s:,ls
WHEREAS, the City of Menifee, State of California,and KB HOlvtE Coastal lnc
(hereinafter designated as "principal") have entered into, or are about to enter into, the
attached agreement(s) whereby principal agrees to install and complete the above designated
public improvements relating to (TracUParcel)Tt 30142-1 which agreement(s) isiare
hereby referred to and made a part hereof; and,
WHEREAS, said principal is required under the terms of said agreement(s) to furnish bond(s)
for the faithful performance of said agreement(s);
NOW, THEREFORE, we the princiPa I and gerkley Regional lnsurance Conrpany as
su rety, are held and firmly bound unlo the City of Menifee in the penal Sum of one rvrirtion rwo Hundrecl
Ihousond Five Hundred and No/100-- DOllafS ($ r,uoo,soooo ) 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 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 specifled, 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.
FAITHFUL PERFORMANCE BOND
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 August 6
NAME OF PRINCIpAL: KB HoME coasrarrnc
AUTHORTZED S TGNATURE(S):
By:
Name: altc/tae-
lllle: lP LA/VD r-
. Fe+a htPt J& ,
i et AtzD PcAl,sttl0-
(lF coRPoRATtON, AFF|X SEAL)
NAME OF SURETY:Regi oDallnsurance C ompany
AUTHORIZED SIGNATURE:
Attorney-in-Fact Title
Brenda Wong. Attomey-irtFact
(rF coRPoRATtON, AFFTX SEAL)
ATTAGH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY-IN-FACT.
2010 .
CALI FORN IA ALL.PURPOSE ACKNOWLEDGMENT
State of California
County of Riverside
On Auqust 10, 2010 before me Richard R. Keller , Notary Public,
personally appeared Michael H. Freeman, Jr., 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/sheAhey executed the same in his/her/their authorized capacity(ies),
and that by his/he#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.
-----L----r-.-tRICHAED R. KEI.I,ER ICommisslon # l7l9l40 Im Nolory Publlc - colttornL UW Rverslde coun\, i- lvlyComm. ExFrretJon2l,2Ol ] ?
--v-r{
/7/,'\- yL /kL-
Richard R. Keller (SEAL)
I
3,
,
CAL!FORNIA ALL.PURPOSE ACKNOWLEDGMENT
County of Los Angeles
On Au ust 6 0 before me , Tracv Aston, Notary Public, personally
appeared Brenda Wonq , 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/th€+r authorized
capacity(ies), and that by ftis/hsdth€ir 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 officialseal.
7RAcyASIONCommisslon # tt39959Notory publlc - CotilornioLos Angeies Coun,ylvtyCanm.Epie.w l5.20l I
Tracy Aston
State of California
Uwq/26
\o. 7951
POWER OF ATTORNEY
BERKLEY REGIONAL INSIIRANCE COMPANY
WILMINGTON, DELAWARE
NOTICE; The warning found elsewhere in this Power of Attomey affects the validity thereof. Please review carefully.
KNOW ALL MEN BY THESE PRESENTS, thAt BERKLEY REGIONAL NSURANCE COMPANY (tlTE "COMPANY"), A
corporation duly organized and existing under the laus of the State of Delau'are, having its principal office in Urbandale, Iowa,
has made, constiluted and appointed, and does by these presents make, constitute and appoint: Thomts S. Branigan, Ashraf
Elmasry, Brcnda lVong, Marino B, Tapia, Edward C. Spector, Noemi Quirol or Simone Gerhard of Aotr Risk Insutance
Services West, Inc, ol Los Angeles, C,4 its true and lawful Attomey-in-Fact, to sign its name as surety only as delineated below
and to execute, seal, acknowledge and deliver any and all bonds and undertakings, with the exception of Financial Guaranty
lnsurance, providing that no sirgle obligation shall exceed Fifty Million and 00/100 Dollars ($50,000,000.00), to the same extent
as ifsuch bonds had been duly executed and acknowledged by the regularly elected ofltcers of the Company at its principal oflice
in their own proper persons.
This Power of Attorney shall be construed and enforced in accordance with, and govemed by, the laws of the State of Delaware,
without giying effect to the principles of conllicts of laws thereof. This Power of Attomey is granted pusuant to the following
resolutions which were duly and validly adopted at a meeting ofthe Board ofDirectors ofthe Company held on August 21, 2000:
"RESOLI'ED, that the proper officers of the Company are hereby authorized to execute powers of attomey authorizing and
qualifyiog the attomey-in-fact named lherein to execute bonds, undertakings, recognizances, or other suretyship obligations
on behalf of the Company, and to aflix the corporate seal of the Cornpany to powers of attorney executed pursuant hereto;
and ftrther
RESOL!'ED, that such power of attomey limits the acts of those named therein to the bonds, undertakings. recognizances.
or other suretyship obligations specihcally named therein, and they have no authodty to bind the Company except in the
manner and to the extent ther€in stated; and further
RESOLVED, that such power of attorney revokes all previous powers issued on behalf of the attomey-in-fact named; and
funher
RESOLVED, that the signature of any authorized officer and the seal of the Company may be aflixed by facsimile to any
power of attomey or certification thereof authorizing the execution and delivery of any bond, undertaking, recognizance, or
other suretyship obligation ofthe Company; and such signature and seal when so used shall have the same force and effect as
though manually affixed. The Company may continue to use for the purposes herein stated the facsimile signaflue of any
person or persons who shall have been such officer or officers of the Company, notwithstanding the fact that they may have
ceased to be such at the time when such instruments shall be issued."
sed these presents to be signed and attested by its appropriate officers and itsIN WITNESS WHEREOF. the Company has
corporcte seal hcreunto affixed this ll day of
cauI
Attest rkley Re llns nce Company
(Seal)llv
Ira S.'Lederman Robert P Cole
Senior Vice President & Secretary Senior Vice President
WARNING: THIS POWER INVALID IF NOT PRINTED ON BLUE "BERKLEY" SECURJTY PAPER.
STATE OF CONNECTICUT )
) ss:
COUNTY OF FAIRFIELD )
Sworn to before me. a Notary Public in the State of Connecticut, this )1 day of
2010.
Be
By
, 2010, by Robert P. Cole and Ira
S. Lederman who are swom to me to be the Senior Vice President, and the Senior Vice Presi nt and Secretary, respectively, of
llclk tel Regional Insurance Co[rpany.
Notary Public. State of Connecticut
CERTIFICATE
I, the undersigned, Assistant Secretary of BERKIEY REGIONAL INSURANCE COMPANY, DO HEREBY CERTIFY that the
foregoing is a true, correct and complete copy of the original Power ofAttorneyi that said Power of Attorney has not been revoked
or rescinded and that the aurhority of the Attome!.r-in-Fact set forth therein, who executed the bond or undertaking to which this
n L.2aL2 /-t.2 . <-< r-n-,IBLIC
s ,llJr,rF 30 ?0'?
Power of Attomey is attached, is in full force and effect as of this date.
Given under my hand and seal ofthe Company, this
-
day of AUG - 6 2010
(.a-'t-"{-(Seal)
Stcven Co$ ard
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