KB Home Coastal, Inc. Bond Release Letter TM3014-2 K07948074
ORIGINAL POSTED SECURITIES:
Bond Type & Number Original Bond Amount Released Amount Release Date
Warranty Bond Amount Being Witheld
DocuSign Envelope ID: D25C3C1D-4C4E-46DD-BCC7-B46FF1F88C12
11/02/2022$ 7,609,500
November 28, 2023
KB Home
Attn: Steve Brennan
36310 Inland Valley Drive, Suite 300
Wildomar, CA 92595
Re: Full Release of Improvement Bond No. K07948074 – Hidden Hills, Tract Map 30142-2
Dear Mr. Brennan,
On November 2, 2022, the City of Menifee approved the 90% reduction of the Faithful Performance Bond No. K07948074 for
street, water, recycled water, and sewer system improvements and held a 10% warranty bond for Tract Map 30142-2. The
Material and Labor bond was fully released as of January 31, 2023.
As of the date of this letter, the City has approved the full release of the previously held 10% warranty securities. The original
bond documents will be mailed to the address above. Electronic copies of this release will be emailed to the following:
Steve Brennan at sbrennan@kbhome.com
The original bond information and release history is provided below.
Faithful Performance
K07948074
Streets/Water/Recyc Water/Sewer
$ 760,950$ 6,848,550
MATERIAL & LABOR BOND (90 DAY HOLD)
WARRANTY BOND (12 MONTH HOLD)
____________________________________________________________
Nick Fidler, P.E. Date
Public Works Director
If you have any questions or concerns, please contact Edna Aguilar at eaguilar@cityofmenifee.us.
Sincerely,
Edna Aguilar
Management Analyst
Bond Number Original Bond Amount Released Amount Release Date
City Clerk Approval for Release
Bond Number Original Bond Amount
Warranty Bond Amount Being Withheld
Release Date
Warranty Bond Amount Being Released
DocuSign Envelope ID: D25C3C1D-4C4E-46DD-BCC7-B46FF1F88C12
Material & Labor K07948074
$ 7,609,500 $ 760,950
$ 5,212,500 01/31/2023
$ 760,950
5,212,500
11/28/2023K07948074
Streets/Water/Recyc Water/
Sewer
11/30/2023