Sutter Mitland 01, LLC Faithful Performance Bond TM31822-F TM5224867FAITHFUL PERFORMANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
FOR: Streets / Drainage $4 779 500.00 Tract Map 31822-F
Water System $711 500.00 Other Proj. Ref
Rec. Water System $50,000.00 Bond No. fM5224867
Sewer System $ 635 000.00 Premium $35,203.00 USDTotal $ 6,176,000.00
SUfgty The Guarantee Comoanv of North America USA
Address One Town Square
Principal
Address
Sutter Mitland 01 LLC
3200 Park Cen r Dr., Suite 1000
City/State Southfield MI City/State Costa Mesa, CA
Zip Zip 92626
Phone (248)-28'1-0281 Phone {714\427-6868
WHEREAS, the City of Menifee, State of California,and Sutter Mitland 01, LLC
(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 TM31822-F 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 principal and The Guarantee Company of North America USA,
as surety, are held and firmly bound unto the City of Menifee in the penal sum of
Six Million One Hundred Seventv-Six Thousand --- 00/100, Dottars, $ 6.176.000.00 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, adminrstrators, 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; othenvise, 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.
-
code 48076
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
ag reements(s).
lN WITNESS WHEREOF, this instrument has been duly executed by the principal and surety
above named, on April 17th,2019.
NAME OF PRINCIPAL:Sutter Mitland 01, LLC
AUTHORTZED STGNATURE(S):
t6By:
Name: David E. BartlettTitle: Vice President
(IF CORPORATION, AFFIX SEAL)
NAME OF SURETY: The Guarantee Company of North America USA
AUTHORIZED SIGNATURE ktaffior--
Debra Watterson, Attorney-l n-Fact
(IF CORPORATION, AFFIX SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY.IN-FACT.
6rreN t rgdlirt-: i
A notary public or other officer completing
this certificate verified only the identity of
the individual who signed the document to
which this certificate is attached, and not the
truthfulness, accuracy, or validity of that
document.
STATE OF CALIFORNIA
SS
COUNTY OF Oranee )
Me h
, Notary Public, personally appeared t.11
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(*)
ishresubscribed to the within instrument and acknowledged to me that he/sheltley/executed the same rn
his/herlttrgir authorized capacity(iesland that by his/heCtheir signature(slon the instrument the person(s|
or the entity upon behalfofwhich the person(+acted, executed the instrument.
I certifu under PENALTY OF PERJURY under the laws of the State of Califomia that the foregoing
paragraph is true and correct.
WITNESS my hand and o{ficial seal
)
)
NMEAGAN KNECHTcoifi. #2117799ihury Prrbbcrlb.t{.
OMTTOE COUXTY
Cdtln.JUNE 20tl
mo
on ,pil I 2L{ ,2019, before me,
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