KB Home Coastal, Inc. Faithful Performance Bond TM30142-1 1145784FAITHFUL PERFORMANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
FOR: Streets and Drainage
Water System
Sewer System
Surety Berkley Regional lnsurahce Conrpany
AddfgSS 505 N. Brand Blvd.. Suite 1010
/State Gbnclale. cA
TracVParcel Map
Bond No. r4s7a4
PfinCiPal KB HoME coastgllnc'
Addfgss 36310 lnland valley Drive
City/State .^,rciorna, ci
$
$
$
2.117,000.00 30142-1
City
zip code 91203 zip
Phone s18-ssG14o3 Phone ssr-esr-s:+s
WHEREAS, the City of Menifee, State of California,and KB HON4E Coastal lnc
(hereinafier 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) rr:ot+z-t , 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 Berkley Regional lnsurance Company AS
su rety, are held and firmly bound unto the City of Menifee in the penal sum of rwo Mittion one Hundrect
Sevente€n Thousand and No/100- DOllafS ($z,rrz,ooooo ) 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, 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 ofiicers, 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 any judgment rendered.
Premium $37.048.00
FAITHFUL PERFORMANCE BOND
The surety hereby stipulates and agrees that no change, extension of time, alteration or
add jtion 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 90o/o with the
remaining 10% held as security for the one-year maintenance period provided for in the
agreements(s).
lN WITNESS WHEREOF, this instrument has been duly executed by the principal and surety
above named, on August 6 2010
NAME OF PRINCIpAL: KB HoME coasrarrnc
AUTHORTZED STGNATURE(S):
By:
Name: zh t cr./ n et , €peeqAD , -.
l1tle: yp L A^/D +- l=r llt, A/.D. PcAtlttDt'
(IF CORPORATION, AFFIX SEAL)
NAME OF SURETY:Be Regionallnsurahce C ny
AUTHORIZED SIGNATURE:fr_
Attorney-in-act Title
Brenda Wong. Attomey-iFFact
(rF coRPoRATtON, AFFTX SEAL)
ATTAGH NOTARIALACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY-IN.FACT.
CALIFORNIA ALL.PURPOSE ACKNOWLEDGMENT
State of California
County of Riverside
On Auqust 10, 2010 before me R. Keller , Notary Public,Richard
personally appeared Michael H. Freeman, Jr., who proved to me on the
basis of satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that
he/shelth€y executed the same in his/h€+Aheir authorized capacity(iee),
and that by his/he#their 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.
RICI{APD P, KEITER
Coinmis:lon # l rl9l ito
Nolory Publlc - Colitorolo
Rlvgrslde County
lW Comm. Expkor Jon 21, 20t I
t
21L_ rz- /kz__
Richard R. Keller (SEAL)
CALI FORN IA ALL-PU RPOSE ACKNOWLEDGMENT
State of California
County of Los Angeles
On Auqust 6. 2010 before me Tracv Aston, Nota ry Public, personally
appeared B nda Won who proved to me on the basis of
satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized
capacity(ies), and that !y Sis/hgt"/th€ir signature(s) on the instrument
the person(s), or the entity upon behalf of which the person(s) acted,
executed the instrument.
t 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 officialseal.
rq\W Mlfurnecv estott
Commtlston # t 739959Nolory Public - Colttorntolos Angetes Counly,tycqrvn. EiF*e6 lvkry I5,201i
Tracy Aston
No.7951
POWER OF ATTORNEY
BER}OEY REGIONAL INSURANCE COMPANY
WILMtN-GTON. DELAWARE
NOTICE: Thc waruing found elsewhere in this Power of Attomey atfects the validity thereof. Please review carefully.
K\O\V ALI- lvIE]- BY THESE PRESENTS. that BERKLI:\' RECIONAL INSURANCE COMPAN\' (the "Company"), a
corporation dull' organized and existing under the la*'s of th!' Slate of Delauare, having its prilcipal o1fice in Urbandale, lowa,
has nade. constituted and appointed, and does by these presents make, constitute and appoint: Thouas S, Branigan, Ashraf
Elmasry', Brenda ll/ong, Marina B. Tapia, Edword C. Spector, Noemi Quiroz or Simone Gerhard ol Aon Risk Insurance
Services West, lnc. of Los Angeles, C.4 its true and lawful Aftomey-in-Fact, to sign its name as surety only as delineated below
and to execute, seal, acknowledge and deliver any and all bouds and undertakings, with the exception of Financial Guaranty
Insurance, providing that no single obligation shatl exceed Fifty Million and 00/100 Dollars ($50,000,000.00), to the same extent
as if such bonds had been duly executed and acknowledged by the regularly el€cted officers ofthe Cornpany at its principal office
in their own proper persons.
This Power of Attomey shall be consfrued and enforced in accordance with, and govemed by, the laws of the State of Delaware,
without giving effect to the principles of conflicts of laws thereof. This Power of Attomey is granted pusuant to the following
resolutions which were duly and validly adopted at a meeting ofthe Board ofDirectors ofthe Company held on August 21, 2000:
IN WITNESS WHEREOF, the Company has
corporate seal hcreunto affixed this l1 day of
caused'I
-.
these presents to be signed and attested by its appropriate officers and its
,2010.
Be
By
'o'"'fl;:4y^*"'
(Seal)By
Ledemran Robert P. Cole
Senior Vice President & Secretary Senior Vice President
WARIIING: THIS POWER INVALID IF NOT PRINTED ON BLUE URITY PAPER.
STATE OF CONNECTICUT )
) ss:
COUNTY OF FAIRT'IELD )
Sworn to before me, a Notary Public in the State of Connecticut, this ,, dayof .J,rr-'r"-r.20l0.byRobertP.Coleandlra
S. Lederman who are swom to me to be the Senior Vice President, and the Senior Vice President and Secretary, respectively, of
[]clki;y Iielional Insurllce Coltpuny.
CERTIFICATE
I, the undersigned, Assistant Secretary of BERKLEY REGIONAL INSURANCE COMPANY, DO HEREBY CERTIFY that the
foregoing is a true, correct and complete copy ofthe original Power of Attomey; that said Power of Attomey has not been revoked
or rescinded and that the authority of the i\ttomey-in-Faut set forth therein, who executed the bond or undertaking to which this
Power of Attomey is attached, is in full force and effect as of this date,
Civen under my hand and seal of the Company, this _ day of AUG - 6 2010
fnl-.,.'-. /-<a4-<cvt
Notary Public, State of Connecticut
(2"',* t-.-{-(Seal)
Ste!'en Coward
"RXSOLVED, that the proper officers ofthe Company are hereby authorized to execute powers of attomey authorizing and
qualifying the attomey-in-fact named therein to execute bonds, undertakings, recognizances, or other surelyship obligations
on behalf of the Company, and to affix the corporate seal of the Company to powers of attomey executed pursuant hereto;
and further
RESOLWD, that such power of attomey lirnits the acts of those named therein to the bonds, undertakings, recognizances,
or other suretyship obligations specifically named therein, and they have ro authority to bind the Company except in the
mamer and to the extent therein stated; and further
RESOLVf,D, that such power of attorney revokes all previous powers issued on behalf of the attomey-in-fact named; and
further
R"ESOLVED, that the signature of any authorized officer and the seal of the Company may be affixed by facsimile to any
power of attomey or certification thereof authorizing the execution and delivery of any bond, undertaking, recognizance, or
other suretyship obligation of the Company; and such signature and seal when so used shall have the same force and effect as
though manually affixed. The Company may continue to use for the purposes herein stated the facsimile signahue of any
penon or persons who shall have been such officer or officers of the Company, notwithstanding the fact that they may have
ceased to be such at the time when such instruments shall be issued."
Attest:
Ira S.
-:
7a
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