KB Home Coastal, Inc. Bond Reduction Letter TR30142-1 15141629844 Hotrn Ro.d Menrlee CA 92586
951672.6777 Fax 951-679 38a3
New. Better. Best.cityof menilee.us
May 13. 2021
KB Home Coastal. lnc.
36310 lnland Valley Drive
Wldomar. CA 92595
Sub,ect: City of Menifee, KB Home Coastal, lnc., Bond Release and Reduction, TR 30142-i
To whom it may concern,
At the April 21.2021 City Council meeting the City Council approved a g0o/o reduction of the fo owing
bonds:
. Faithful Performance Bond No 151416from $888,000 to $88.800o Material and Labor Bond No. 151416 from $4,14,000 to 944,400r Faithful Performance Bond No 1145788from $383.000to $38,300. Material and Labor Bond No. 1145788from$191.500to$19,100
Enclosed are a copy of the bonds for reference.
Also, at the April 21, 2O21 Cily Council meeting the City Council approved the retease of the following
bonds.
o Faithful Performance BondMarranty No. I51423. Farthful Performance BondMarranty No 1145789. Faithful Performance BondMarranty No. 1145785. Warranty Bond No. 11457U. Warranty Bond No. 1145790. Warranty Bond No. 1145787
Enclosed are the origlnal bonds for Nos. 151423, 1145784. 1145790, and 1145787 The City is unabteto locate the original bonds for Nos. 1't45789 and 1145785, enclosed are copies
Please let me know if you have any questions.
Sincerely,
Stephanie Roseen,
Deputy City Clerk
E nclos u re
L
Bill Zimmerman Lesa A. gobek
Mayor Pro Tenr
Drsthct 3
Bob Karwin
Councrlmembe,
Drstrrct I
Matt Liesemeyer
Councrlmembe,
D,slficl 2
Dean Oernes
Counc rlnrenrb(.r
Drslr!(t 4
Armando G. Villa
C ly Mnnnqcr
MENIFEE