KB Home Coastal, Inc. Material and Labor Bond 301432-1 0151421MATERIAL AND LABOR BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
Evans Rd Channel - RCFC&\ /CD Maintained lmprovements
FOR: Streets and Drainage
Water System
Sewer System
Su rety Berkley Regaonal lnsurance Company
AddfgSS 505 N Brand Btvd . Suite 1040
$ r,zrz,soo.oo TracUParcel Map 30142-1
$Bond No.
Premium
0151421
$lncluded in the Failhful Performance Eond
Principal
Address 36310 lnland Valley Ddve
KB HoME Coastal lnsurance
City/State Glendale, CA City/State CA
zip 91203 zip 92525
Phone ero-sso,rloe Phone 9s1-691,5245
WHEREAS, the City of Menifee, State of California, and KB HOME Coastal lnc
(hereinafter designated as "principal") have entered into, or are about to enter into, the
attached agreement(s) whereby principal agrees to install and complete the above designated
public improvements relating to (TracUParcel) r. eouz'r , which agreement(s) is/are
hereby refened to and made a part hereof; and,
WHEREAS, under the terns of said agreement, principal is required, before entering upon the
performance of the work, to file a good and sufficient payment bond with the City of Menifee
to secure the claims to which reference is made in Title 15 (commencing with Section 3082)
ot Part 4 of Division 3 of the Civil Code of the State of California;
NOW, THEREFORE, said principal and the undersigned, as corporate surety, are held firmly
unto the City of Menifee and all contractors, subcontractors, laborers, material persons and
other persons employed in the performance of said Civil Code in the sum of one Mi ion seven Hmdred
seventeen Thousand Five Hundr DOllafS ($ r.u rz,soo.oo ) for materials furnished or labor thereon of
any kind, or for amounts due under the Unemployment lnsurance Act with respect to such
work or labor, that said surety will pay the same in an amount nol exceeding the amount
hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to
the face amount thereof, costs and reasonable expenses and fees, including reasonable
attorney's fees, incurred by the City in successfully enforcing such obligation, to be awarded
and fixed by the court, and to be taxed as costs and to be included in the judgement therein
rendered.
It is hereby expressly stipulated and agreed upon that this bond shall inure to the benefrt of
any and all persons, companies and corporations entitles to full claims under Title 15
(commencing with Section 3082) of Part 4 of Division 3 of the Civil Code, so as to give a right
of action to them or their assigns in any suit brought upon this bond.
Should the condition of this bond be fully performed, then this obligation shall become null
and void; otherwise, it shall be and remain in full force and effect.
The surety hereby stipulates and agrees that no change, extension of time, alteration or
addition to the terms of this agreement or to 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 Seclion 2845 of the Civil Code are not a condition precedent to surety's
obligations hereunder and are hereby waived by surety.
lN WITNESS WHEREOF, this instrument has been duly executed by the principal and surety
above named, on Auqusr6 ,2410
NAME OF PRINCIPAL: KB r-toME coastarrnc.
AUTHORIZED SIGNATURE(S):
By:
(rF coRPoRATtON, AFFrX SEAL)
NAME OF SURETY: Berkley Regional lnsurance company
AUTHORIZED SIGNATURE:
Its Attorney-in-Fact Title
Brenda Wong, Attomey-in-Fact
(rF coRPoRAroN, AFFTX SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY{N.FACT.
MATERIAL AND LABOR BOND
Name:
Tifle: