KB Home Coastal, Inc. Bond Release Letter TM30142-1 0151422 1145786
ORIGINAL POSTED SECURITIES:
Bond Type & Number Original Bond Amount Released Amount Release Date
Warranty Bond Amount Being Witheld
DocuSign Envelope ID: 47D7C58F-CA8E-426B-8050-9DF53C7AC2BC
$ 1,932,300
06/01/2022Faithful Performance
1145786
Backbone - Traffic Signals
November 29, 2023
KB Home
Attn: Steve Brennan
36310 Inland Valley Drive, Suite 300
Wildomar, CA 92595
Re: Full Release of Backbone Improvement Bond Nos. 0151422 1145786 – Hidden Hills, TM 30142-1
Dear Mr. Brennan,
On June 1, 2022, the City of Menifee approved the 90% reduction of Faithful Performance Bond No. 1145786 for traffic signals
and Faithful Performance Bond No. 0151422 for street improvements on Craig Avenue, Murrieta Road and Garbani Road. At that
time, the City held a 10% warranty bond from each of these bonds for Tract Map 30142-1. Material and Labor bonds were fully
released as of June 1, 2022.
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.
06/01/2022
$ 54,000$ 540,000 $ 486,000
$2,147,000 $ 214,700Faithful Performance
0151422
Backbone Streets
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: 47D7C58F-CA8E-426B-8050-9DF53C7AC2BC
06/01/2023
$ 270,000
$ 54,000
$ 214,700
$ 1,073,500
$ 54,000
06/01/2023
$ 540,000
$ 1,073,500
$2,147,000
11/29/2023
0151422
Backbone Streets
11/29/2023$ 214,700Faithful Performance
0151422
Backbone Streets
Faithful Performance
1145786
Traffic Signals
$ 270,0001145786
Backbone - Traffic Signals
12/4/2023