KB Home Coastal, Inc. Bond Release Letter TR30142 024036009MENIFEE 29844 Haun Roacl Menifee, CA 92586
951-672-6777 I Fax 951 679 3843
cityolmenifee,us
November B, 2022
KB Homes
Attn: Steve Brennan
36310 Inland Valley Drive, Suite 300
Wildomar, CA 92595
RE: KB Homes (Hidden Hills), City of Menifee, TR No. 30142
Partial Bond Release, Bond No.024036009
To whom it may concern,
On November 2,2022,the City of Menifee City Council accepted the public improvements for streets,
drainage, water and sewer systems for Tract Map No. 30142; along with the 900/o release of Bond No.
024036009 (Faithfut Performance BondJ and the full release ofBond No. 024036009 [Material and
Labor BondJ. The remaining 1-00lo ofthe Faithful Performance Bond in the amount of$476,300 has
been transferred to a Warranty Bond, to be held for 12 months.
Below you will find the schedule of release for Bond No. 024036009:
Enclosed is a copy of the original bond for your reference. Please note, the Material and Labor Bond wilt
be fully released per standard City policy 90 days after acceptance ofpublic improvements as indicated
on the table above. This release will occur automatically unless City receives written notice that an action
or stop notice has been filed related to the construction ofthe improvements .
Sinc rel
Edna A. A lar
Management Analyst, City Clerk's 0ffice
Bill Zimmerman Matt Liesemeyer
Cou,rcilnrpmbel
Drstr ra i 2
024036009 [Faithful Performance BondJ $4,763,000 $476,300
024036009 (Marerials & Labor BondJ $2,818,000
0riginal
Bond
Amount
Bond No.Bond Amount
being witheld
Released
Amount
$4,286,700
$2,818,000
Release
Date
rTlB/22
L/3t/23
Oean Deines
M.ryor Pro Te,r
D slllcl 4
Bob Karwin Lesa A. Sobek
C lLrrrr.tlrr-mbr:r
Di\ir.t 3
Armando G. Villa
Crty M.]lr,r.l.r
New. Better. Best.