KB Home Coastal, Inc. Faithful Performance Bond 30142-1 0151423FAlTHFUL PERFORMANGE BONO
CIry OF MENIFEE, STATE OF CALIFORNIA
,a.rr,,rne rirr*r Fr3,>phas? r Evans Rd ;[Government code section 66499 1)
i, 'rlr,rn.:,f GJrl,Jrir Ri,
FOR: Streets and Drainage
Water System
Sewer System
Surety g.rllai Regonal lnsuancc Compan/
AddfeSS 5rr5 ll Erand etvd Surt. lO4O
City/Slate
Zip code
TracVParcel Map
Bond No. oi5lrtl
Premium s:e so5 oo
PrinciPal KB HtuE coastarroc
AddfeSS $X]O rnr6nd val.y Dnv.
City/State
Zip
$
$
$
9r:03
Phone ars-)sc' r l,rr Phone g:,r.ogr-s:,rs
WHEREAS, the City of Menifee, State of California, and i'ls H!r'lE rrra!r'r r)'
(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 (TracUParcel) r!If:-lj",:to:"., which agreement(s) is/are
hereby referred to and made a part hereof; and,
WHEREAS, said principal is required under the terms of said agreement(s) to furnish bond(s)
for the faithful performance of said agreement(s);
NOW, THEREFORE, we the principa I and Bcrlley Rooion,rlln3uranc. Compiny ,AS
surety, are held and firmly bound unto the City of Menifee in the penal sum of one u,!,on s,r Hund,cd
ErgNy-Sr Thrus.)ncj and uo/lC(!- DollafS ($ r ooe .oro,ro ) 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, ,ointly and severally, firmly by these presents.
The condition of this obligation is such that if the above bonded principal, his or its heirs,
executors, administrators, successors or assigns, shall in all things stand to and abide by, and
well and truly keep and perform the covenants, conditions 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 intent 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 null
and void: otherwise, 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 anyjudgment rendered.
The surety hereby slipulates and agrees that no change, extension of time, alteration oraddition to the terms of this agreement or to the work to be performed there under or the
specifications accompanying the same shall in anyrvise afiect its obligation on this bond, and
it does hereby waive notice of any such change, extension of time, aiteration or addition.
Surety further stipulates and agrees that the provisions of Section 2845 of the Civil Code andcommencement of construction are not conditions precedent to surety's obligations hereunder
and are hereby waived by surety.
FAITHFUL PERFORMANCE BOND
EREOF, this instrument has been duly executed by the principal and surety
:0r0AtgJst 6
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 10olo held as security for the one-year maintenance period provided for in the
agreements(s).
IN WITNESS WH
above named, on
NAME OF PRINCIPAL:KB HOME Co.stallnc
AUTHORIZED STGNATURE(S):
By:
FLee rrl Ptlft '
Iille lP LAP) <- Fo & t/A cD ?LA/pttre-
(lF coRPORATtON, AFFTX SEAL)
NAME OF SURETY:g{ll.eqonal u,ancc C
Its rney-in-Fact Tille
(IF CORPORATION, AFFIX SEAL)
tAUTHORIZED SIGNATURE:
Name: r"lt ckAe L
Brcnda Wong. Aiomcf lr}Fact
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AiII)
ATTORNEY-IN.FACT.
CALIFORNIA ALL.PURPOSE ACKNOWLEDGMENT
State of California
County of Riverside
On Auoust 10. 2010 before me, Richard R. Keller, Notary Public,
personally appeared Michael H. Freeman. Jr., who proved to me on the
basis of satisfactory evidence to be the person(e) whose name(s) is/a+e
subscribed to the within instrument and acknowledged to me that
he/eh€lth€y executed the same in his/herAhek authorized capacity(ies),
and that by his/heCttrci+ 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 official seal.
Rlc IL\PD R XILIE,?
Co,hrr.llllon # I lt 9t,10
No,cry PJblla - Cort,o:nl,t
PNcrttaa County
My Coann t ;rro!Jr.2l,20) |
lL lh<--
Richard R. Keller (SEAL )
CAL!FORNIA ALL.PURPOSE ACKNOWLEDGMENT
State of California
I certify under PENALW OF PERJURY under the laws of the State of
California that the foregoing paragraph is true and correct.
WITNESS my hand and officialseal.ffi L'/fu//el
Tracy Aston
County of Los Angeles
On August 6. 2010 before me, Tracy Aston, Notary Public, personallyappeared Brenda Wong, who proved to me on the basis ofsatisfactory evidence to be the person(e) whose name(s) is/a+e
subscribed to the within instrument and acknowledged to me thathe/she/they executed the same in hls/her/their authorized
capacity(ies), and that by his,/her/their signature(e) on the instrument
the person(e), or the entity upon behalf of which the person(e) acted,
executed the instrument.
\{)ll( lr: lh(' \\Jfllrn! li)und clsc\\'h!'re rn thrs lJo!\cr ol .\tt()rn(} Jtlc.ls thc lxlr(lrt} llrcraol Plcil\crcvtcw carcl'ully.
K\()\\ \ll \ll\ IiY llll,Sl: PRISI\lS. rlrur Ill ltKl L\ I{l:(il()\.\l l\sl l{\\(l (I)\ll,:\\\'(lhc (lompany ). r
it.r. rrtrrlt. crrtt.ltltrtcil artil appotrttccl. urtd drrcs b) tl)(\c prc\cIli r]lJlc. cr)nslrt(rl( Jr)(l ilpp()lnl Thonat S. Bntigan :lshruf
lllttrutry, llror o llittli, .llutirq R. Tapid, Edb,lrl C. Spc.'ttrt, \nt:ni Quirol or Sirzo,lr Gcrhurl of ,futrr Risk ltrsurunce
Srrvict't ll'ctt, lnL. rtJ l,os ,{t!ielt!\, CA its lruc and lurrlul Attornct-in-liirct, to slgn rts nanre ls surct)'only as dcllneated bclow
rttrl trr crceulc. :crl. acknoulcdge aod dr'li\cr Jn) ilnd all bontis anr.l untlcrtakings. \!lth thc c\ceplron of !lnanL-ial Guarant\
Insuraocc. pror rdrllg thxt fl(t singlc ohligation shrll crcccrl Fift] Uilli(]n and 00/100 Dollari (550,000,000.00), to the same extcnt
rs il'such bontls hatl bccn duly cxecuted anrl acknowledgetl by the regularly c'lcctcd oftlcers of the Cornpany at its principal office
ln lholl o\rn propcr pcrsoN.
'I'his Pouer ol' Attomey shall be consrucd and cnfbrced In accordancc with, and govemed by. the laws of the State of Delaware,
ilr(hout giving eflect to the principles of conflicls ol'hws thercol. This Pou'r'r of Attomey is granted pursuant to the following
rtsolulions rr hich !\t'rc duly and validly adoptcd !t a nrccting ol thc Board of Dircctors of the Company held on August 2 l. 2000:
''RESOI,1'ED, that thc proper ol'licers of the Cornpany are hereby authorizcd to execute powers of attorney authorizing and
qualilvrng thc altomey-in-fact named thercin to e)iecute bonds, undenakings. recognizances, or other suretyship obligations
on hthalf of thc Company, and to affix lhe corporatc seal of the Company to pouers of anomey executed pursuant hereto;
and lurthcr
RISOLYED. lhat such pouer of atlomcy limi6 th!' acts of thosc named thcrern k) the honds, undertakings. recognizances,
r)r othcr surclyshrp obligations spcciticall)'namcr,l thcrein. and thc) hulc no authont) to brnd the ('onrpany cxcepr in thc
mJnnL'r and k) th!'extenl therein stated: and further
RISOLvED. lhat such po$'cr of rtlomey rcr okcs all prcvlous po\\'ers rssucd on bchalf ol' thc attomcy-in-fact named: and
l'urther
RESOLVfD, thlt drc srgnature of any authorued omccr and thc scal of the ( ompany may be aflixed by facsirule to aty
po*er of allomcy or ccrtification thercol authorizing thc exccutlon and deliverl, of any bond. undenakrng. recognEirnce, or
olhcr surcl)ship ohligation ofthc Company: and such signaturc and scal *hcn so ust'd shall have the sam€ force and effect as
though manualll affixc'cl Ihe Conpany ma; continuc to usc lbr the purpos('s h(rcrn stalt'd the lacsimile signature ofany
pcrson or pcrsons * ho shall havc bcen such ollrcr or olilccr\ of thr (irnrpan;'. not* ithstandrng thc t'act thal they may have
ccascd to bc such at thc timc $'hcn such insrrumenrs shall bc issucd."
l,o\\ LIt ()t,,\ I IoR\tiY
BUt{Kt.t:\ R}:(;to\Ar. r\st RA\( u ( ()}tPA\\
\f ll \ll\(;l( )\ l)l L.\ \\ .\l{l
llerkles Rert lnsuqnce Company
av {.-a/'62
l\ \\'t I \Ess \\'HER!OI-.
(orfor Jle \cJl hcrcllnto J[l\
Altcst:
thc ( ompany has causcd
r'd thrs L dr1 ol - '. '
\o.7951
,. :l)10. b) Robert P ( ole and Ira
d!'ln anJ Sccrctlr). respccti\r'lt. oi
thcsr'prcscnts lo b(' srgned and attested b1.'its appropnate oflicers and its^ . :010.
lJr
lra S. Ledcrman Rrrbt'n [,. Cole
Scnror Vrcc Presidcnt & Sccrctart Senior Vicc PrcsiJcnl
u.\R\l\(;r ltlls PO\l UR l\l..{LlD tl')iOI PRIYIED ()\ Bl,t ll "BURKI-f,\ ' SEC['RITI' PAPER.
r S.ai)
sl A l't: ot' co)iNf('Tlct T )
) ss:( ot \1Y ol' r'AtRl'tELD )
Swtrrn to bclirrc mt,, a Notary Publrc in thc Statc of('onnccticul. thls
S. l-cdcrttran uhrr are s*om to mc to b( thc Scnirtr Vlce Prestdcnt.
I lcr\rry Rr.gr,rntl lnsurunuc (i,lnpan1
. ': -' j r,,i"ri1p*i,..so,"i,:i"i;d;u
(.ERI'II'I('ATE
I. thc undcrsigncd. Assistant Sccrctary olBURKLIIY RE(ilONAt. INSIIRAN( E CIOMPA\\', DO HEREBY CERTIFY rhal the
lbregoing is a true, corrccl and complete copy of the oriBinal Pou er ot'Attomcy: thal said Pouer of Attomey has not bcen revoked
or rtscindcd and that thc authonty ol'thc Attorncy-in-Fact tl forth thcrc-in, who cxcculed thc bond or undertaking to which lhis
Powcr ofAttomcy is artached, rs in full forcc and cfl'ecl aso, this dar'j. AUG - 6 20!0
.ll davof r1!' ':l
ancl thc St'nior Vrcc'Presi
/'1.'/,
Given undcr my hand and seal ofthc Company, Oris _ _- day ol- _
(1,r..-.--r-(Sr.rll
S1.'r cn (i)Nard