KB Home Coastal, Inc. Bond Release Letter TM30142 02436009
ORIGINAL POSTED SECURITIES:
Bond Type & Number Original Bond Amount Released Amount Release Date
Warranty Bond Amount Being Witheld
DocuSign Envelope ID: CC15A6BA-1484-4564-A935-CE92C5E6BCE3
$ 4,763,000 $ 4,286,700
November 28, 2023
KB Home
Attn: Steve Brennan
36310 Inland Valley Drive, Suite 300
Wildomar, CA 92595
Re: Full Release of Improvement Bond No. 024036009 – Hidden Hills, Tract Map 30142
Dear Mr. Brennan,
On November 2, 2022, the City of Menifee approved the 90% reduction of Faithful Performance Bond No. 024036009 for street,
water and sewer system improvements and held a 10% warranty bond for Tract Map 30142. 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.
$ 476,300Faithful Performance
024036009
Streets, Water, Sewer System
11/02/2022
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: CC15A6BA-1484-4564-A935-CE92C5E6BCE3
$ 476,3000
Material & Labor 024036009
024036009
Streets, Water, Sewer
Improvements
$ 2,818,000
11/28/2023
01/31/2023
$ 476,300
$ 2,818,000
$ 4,763,000
11/30/2023