Standard Pacific Corp. Faithful Performance Bond TR34406-5 929581356L
Executed in duplicate
FOR: Streets and Drainage $10 000 00 TracUParcel Map tr. saaoo-s
Bond No. 92958'1356
Premium $ 20'906.00
2
Water System
Sewer System
$000.00
$442 500 00
Su rety The Continental lnsurance Company
Address 4150 Drinkwater Blvd., Suite 410
CityiState Phoenix, Az City/State Corona CA
Zip code 85251 Zip 92879
Phone 480-941-3292 Phone (951) 898-5500
WHEREAS, the City of [/lenifee, State of California, and Standard Pacific Corp. (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 Tract 34406-5 (Onsite lmprovements), which agreement(s) is/are
hereby referred to and made a part hereof; and,
NOW, THEREFORE, we the principal and The Continental lnsurance Company AS
surety, are held and firmly bound unto the Cily of ttlenifee in the penal sum of-.-TWO MILLION SEVEN HUNDRED EIGHTY SEVEN THOUSAND FIVE H UNDRED"**Dollars
$2,787,500.00 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, administralors, successors or assigns, shall in all things stand to and abide by, and
well and truly keep and perform the covenants, condilions 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 rntent 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 nr.rll
and void; otherurise, 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
CITY OF IVENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
Principal Standard Pacific Corp. . a oetaware corporation
Address 255 E. Rincon Street. Suite 200
WHEREAS, said principal is required under the terms of said agreement(s) to furnish bond(s)
for the faithful performance of said agreement(s);
ENI
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, lhis instrument has been duly executed by the principal and surety
above named, on January 7th .2014.
NAIVIE OF PRINCIPAL: Standard Pacific Corp , a Delaware corporation
AUTHORTZED STGNATURE(S):
By /''YyA l/y1 ",*/
Name:
Title:
Rick M. Wood
Authorized Representative
(tF coRPoRAT|ON, AFFTX SEAL)
NA[/E OF SURETY: The Continental lnsurance Company
Tracy Aston,ttorney-in-Fact
(IF CORPORATION, AFFIX SEAL)
ATTAGH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY-IN.FACT.
AUTHORIZED SIGNATURE:
CALIFORN IA ALL.PU RPOSE ACKNOWLEDGM ENT
State of California
County of Los An eles
On
personally appeared Tracv Aston 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/their authorized
capacity(ies), and that !y fiis/hgr/their 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.
,ffi.
W;o
2
I
B. Ar.t AricoMM #r9857t 3
Nolary Public Signature
Los Angeles
Comm. E0rres
JAN - 7 2014 before me, B. Aleman. Notary Public,
Calrtornra
PO!VER OT' ATTORNT]Y APPOINl'ING INDIVIDUAL ATTORNEY.IN.}-ACT
Know All Men By These Presents, That The Continental Insurance Company, a Pennsylvania insurance company, is a duly organized and exisiing
insurance company having its principal office in the City of Chicago, and State of Illinois, and that it does by vinue of the signature and seal herein
afllxed hereby make, conslitute and appoint
Tracy Aston, Marina Tapia,'Iom Branigan, Edward C Spector, Kristine Mendez, Daravy Mady, Lisa K Crail, Simone
Gerhard, B Aleman, Individually
of Los Angeles, CA, its true and lawful Atlomey(s) in-Fact with full power and authority hereby confened to sign, seal and execute for and on its behalf
bonds, undenakings and other obligatory instruments of similar nature
- In Unlimited Amounts -
and to bind them thereby as tully and to the same extent as il such instruments were signed by a duly authorized officer ofthe insurance company and all
the acts of said Attomey, pursuant to the authority hercby given is hereby ratified and confirmed.
This Power of Attorney is made and executed pursuant to and by aulhority of the By-t w and Resolutions, printed on the reverse hereof, duly
adopted, as indicated, by the Board of Directors of the insurance company.
In Witness Whereof, The Continental Insurance Company has caused these presents to be signed by its Vice President and its corporate seal to be
hereto affixed on this 29th day of January, 2013.
The Continental Insurance Company
Paul I]rU at Vice President
State of South Dakota, County ol Minnchaha, ss:
On this 29th day of January, 2013, bclbre me personally came Paul T- Bruflat to me known, who, being by me duly sworn, did deposc and say: rhat
hc resides in the City of Sioux Falls, State of South Dakola; that he is a Vicc President of The Continental Insurance Company, a Pennsylvania insurance
company, described in and which executed thc above instrument; that he knows the seal ofsaid insurance company; thal thc scal affixed to the said
instrumcnt is such corporatc scal; thal ii was so aIfixed pursuanr to authority given by the Board of Directors of said insurance company and that he
signed his name thereto pursuanl to like authority. and acknowlcdgcs samc to be the act and deed of said insurance company.
My Commission Expires June 23, 2015 J. Mohr Notary Public
CERI'II.'ICATE
I, D. Bull, Assistant Secretary of The Contincntal Insurance Company, a Pennsylvania insurance company, do hcreby certify thar the Power of
Attomcy hcrcin above set fonh is still in force, and funher certify that the By Law and Resolution of the Board of Dircctors of the insurance company
printed on the reverse hereofis still in forcc. ln testinxrrry whereofl havc hcrcunto subscrihed my namc and allixed thc \cal ol-lhe said i surance
company this day of
The Continental Insurance Company
i7.o
"o O
I9EAI €K)
J. MOHR
NOTARY PUBLIC
SOTJTH OAKOTA
Forn F6850-4/2012
a D. Bult Assistant Sccr(:lilrv
Authorizing Resolutions
ADOPTED BY THE BOARD OF DIRECTORS OF THE CONTTNENTAL INSTJRANCE COMPANY
This Power of Attomey is made and execuled pursuant to and by authority of the following By-Law duly adopted by the Boad of Directors of
thc Company at a meeting held on May 10, 1995.
"RESOLVED: That any Group Vicc President may authorize an officer to sign specific documents, agreements and instrumenrs on behaif
of the Company provided that the name ofsuch authorized officer and a description of the documents, agreements or instruments that such
offrcer may sign will be provided in writing by the Group vice President to the Secretary of the Company prior to such execution
becoming effective."
This Power ofAttorney is signed by Paul T. Bruflat, Vice President, who has been authorized pursuant to the above rcsolution to execution power o[
attomeys on behalfofThe Continental Insurance Company.
"Whereas, the bylaws of the Company or specific resolution of the Board of Directors has authorized various officers (the "Authorized
Officers") to execute various policies, bonds, undenakings and other obligatory instruments of like nature; and
Whereas, from time to time, the signature of the Authorized Ofliccrs in addition to being provided in original, hard copy format, may be
provided via facsimile or otfte.wis€ in an electronic lbrmat (collectively, "Electronic Signatures"); Now therefore be it resolved: that the
Electronic Signature ofany Authorized Officer shall be valid and binding on the Company."
This Power of Attomey is signed and sealed by facsimile under and by thc authority of the following Resolution adopted by the Board of Directors of
(he Company by unanimous written consent dated the 25'h day of April. 2012: