Sutter Mitland 01, LLC Faithful Performance Bond TM36485-7 TM5207442FOR Streets / Drainage
Water System
Rec. Water
Sewer System
Total
FAITHFUL PERFORi'IANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1 )
2,530,000.00 Tract Map 36485-7
507.500.00
8.500.00 Bond No
Premium
rM5207442
421,000.00 $19.762.00
$
$
$
Q
$ 3,467,000.00
Surety The Guarantee Comoanv of North America USA
Address One Town Square. Suite 1470
Principal Sutter Mitland 01 . LLC
Address 3200 Park Center Dr.. Suite 1000
City/State Southfield, Ml Caty/State Costa Mesa, CA
48076 zip 92626Zip code
Phone (248\ 281-0281 Phone (714) 200-1533
WHEREAS, the City of Menrfee, 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
TM 36485-7 , which agreement(s) is/are hereby refened to and made a part hereof; and,
WHEREAS, said principal is required under the terms of said agreement(s) to fumish bond(s) for the
faithful performance of said agreement(s);
NOW, THEREFORE, we the principal and The Guarantee ComDa nv of North America USA ,AS
surety, are held and firmly bound unto the City of Menifee in the penal sum of Three lf,illion Four
Hundred Sixtv-Seven Thousand ------------00/100 Dollars, $3.467.000.00 laMul 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 indemnrfy
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
any judgment rendered.
9/8/t5
Other Proj. Ref.
A notary public or other omcer 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 CAIIFORNIA
COLNTY oF Cca,r,4(.,
SS
J
on MareVt tn . 2018, before me,A-r-r {-
-,
Notar)' Public, persona.lly appeared
who proved to me on the basis ofsatisfactory evidence to be the person(r)-rrhose name(s)
isAee subscribed to the witiin instmment and acknowledged to me that he/shc/ttsy/executed the same rn
his/her,Seir authorized capacity(ie) and that by his/ber*heir signatur{s} on the instrument the person@,
or ttre entity upon behalf of which the person(slacted, executed the iDstrument.
I certrry under PENAITY OF PERIURY under the laws of the State of Ca.lifornia that the foregoing
paragraph is true and correct.
MTNESS my hand and official seal.
)
)
)
MEAGAI,I XNEClff
c0.t1.12117799taerA&.C.frna
OiA'6C COUflTY
lno Notary
CaI.I.lC
r
a,qI
FAITHFUL PERFORMANCE BOND
The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to theterms of this agreement or to the work to be performed there under or lhe specificationsaccompanying the same shall in anywise.affect its obligation on this bond, and it does hereby waivenotice of any such change, erlension of time, alteration or addition. Surety further stipulates andagrees that the provisions of Section 2845 of the Civil Code and commencement of construction arenot 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 andthereupon, the amount of the obligation of this bond is reduced by 90% with the remaining 10% heldas 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 abovenamed, on February 28tr', 2018.
NAME OF PRINCIPAL Sutter Mitland 01 LLC
AUTHORIZED SIGNATURE(S)
A9{1^*=-
Name: David E. Bartlett
Title: Vice President
(IF CORPORATION. AFFIX SEAL)
NAME OF SURETY: The Guarantee Comoanv of North America USA
AUTHORIZED SIGNATURE
Attorney-i
Richard Lo
Fact Title
land, Attorney-ln-Fact.
(IF CORPORATION, AFFIX SEAL)
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By:
?..
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND ATTORNEY.IN.
FACT.