Lennar Homes of California, Inc. Faithful Performance TM34406-3 024235844Ft^
FOR: Streets / Drainage
Water System
Sewer System
Total
Surety Liberty Mutual lnsurance Company
Address 175 Berkeley Street
City/State Boston, MA
2.455,500.00 34406-3
417 500.00 Other Proj. Ref.Hampton (Heritage Lake)
693,000.00 424235844
3,566.000.00 $ 10,698.00
$
$
$
$
Bond No
Premium
Principal
Address
LennarHomes of California. lnc.
980 Montecito Drive
City/State Corona. CA
ZipPhone (951) 817-3680
WHEREAS, the City of Menifee, State of California, and Lennar Homes of Galifornia. 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 TM 34406-3 , which agreement(s) is/are 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
Three Million Five Hundred Sixtv Six Thousand and no/100, Dollarc, $ 3.566.000.00 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, 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.
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.
9/8^5
FAITHFUL PERFORMANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
Tract Map
Zip code 02116
Phone (617) 357-9s00
92879
FATTHFUL 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 pedormed 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 January I
NAME OF PRINCIPAL Lennar Homes of California, lnc., a California corporation
AUTHORIZED SIGNATURE(S)
By:
Name
Title:
(lF coRPoRATlON, AFFIX SEAL)
NAME OF SURETY: Liberty Mutual lnsurance Company
AUTHORIZED SIGNATURE Kathy R. Mair
Its Attorney-in-Fact Title
(lF coRPoRAT|ON, AFFrX SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY.IN.FACT.
glE/|5
. 2019