Sutter Mitland 01, LLC Faithful Performance Bond TM31822-2 TM5207429Ft^gE
FAITHFUL PERFORMANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
FOR Streets / Drainage $
Water System
Rec. Water System $
Sewer System
Total
2.141.00 Tract lvlap 3 1822-2
$412.00 Other Proj. Ref
a
16.000 00
368.500 00
$ 2,937,500 00
Surety The Guarantee Company of North America USA
Address One Town Square, Suite 1470
City/State Southfi , Ivl I
Zip code 48076
Phone
Park Center Dr.. S ite 1 000
Principal
Address 3200
S utter Mitland 01 , LLC
City/State Costa Mesa. CA
Ztp 92626Phone 014) 200-1533
WHEREAS, the City of Menifee, State of California, and Sutter Mifland Oi. LLC (hereinafter
designated as "principat") have entered into, or are about i6iiGiinto, trE aGE66d agreement(s)whereby principal agrees to install and complete the above designated public improvements relating to _fM 31822-2 , 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 fumish bond(s) for thefaithful performance of said agreement(s);
NOW, THEREFORE, we the principal and The cuarantee Company of North America USA, as
surety, are held and firmly bound unto the City of Menifee in the penal sum Two Million Nine
Hundred Thirty-Seven Thousand Five Hundred-----00/100
United States, for the payment of which sum will and truly be m
2 937 500.00
ade, we bind ou
lawful money of the
rselves, 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 officers, agents and employees, as therein stipulated, then this
obligation shall become null and void; otherwise, it shall remain in full force and effecl.
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,',8,15
Bond No. TM52O7429
Premium $16,744.
FAITHFUL PERFORMANCE BOND
The surety hereby stipulates and agrees that no change, extension of time, alteratron 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, extensron of time, alteration or addition. Surety further stipulates and agrees that the provisions
of Section 2845 ofthe Civil Code and commencement of construclion 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 1 0% held as
security for the one-year maintenance period provided for in the agreements(s).
lN WITNESS WHEREOF, this instrument has b€en duly executed by the principal and surety above
named, on December 11th,2017
NAME OF PRINCIPAL Sutter Mitland 01 LLC
AUTHORIZED SIGNATURE(S):
By
Name: Dave Bartletl
Title: Mce President
(rF coRPoRAT|ON, AFFTX SEAL)
NAME OF SURETY: The Guarantee Company of North America USA
(,,
,l
AUTHORIZED SIGNATURE
e oalson,Attorney-in-Fact Title
(IF CORPORATION, AFFIX SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND ATTORNEY.IN.
FACT.
I8 15
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
COUNI'Y OF
On \ae-t nhc,r lt ,2017. betbre me.
_, Notary Public, personally appeared
MEAGAN KNECHT
cofi.f21L7799
NoIrry P.itC-cauo.ria
ORANGE COUTIIY
Ccrrrl JI,TIE 2C19
Vvrzctst-
-,
who proved to me on the basis of satisfactory evidence to be the person(slwhose namo(s|
is/:*e subscribed to the within instrument and acknowledged to me that he/sbelthet/executed the same in
his/heCtheir authorized capacity (icr) and that by hiVhcrlrtreir signature(s) on the instrument the persone),
or the entity upon behalfofrvhich the p€rson(g acted. executed the instrumenr.
I certif under PENAITY OF PERIURY under the laws of the State of Califomia that the foregoing
paragraph is true and correct.
WTNESS my hand and official seal.
=o
UJ
ma,
Notary Public
)G*.te- l