FPG Sun Menifee 80 LLC Faithful Performance Bond TR36803 225122MFAITHFUL PERFORMANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
FOR: Streets and Drainage $_
Riv. Co. Flood Control $
Water System
Rec. Water
Sewer System
Total
82 500.00
Tract Map TR36803 (Holland Road)
Other Proj. Ref._tP21-O13U
Bond No. 225122M
Premium $ 984.00
FPG Sun Menifee IO LLC
27271 LasRamb . Suite 100
City/State Mission Vieio. CA
Zip 92691
Phone 949-748-67'14
$
$
$
$
71 500.00
40,500,00
123,000.00
Surety Westfield National lnsurance Comoanv
Address P.O. Box 5001
City/State Westfield Center OHZip_44251-5001_
Phone 330-887-0101
Principal
Address
WHEREAS, the City Council of the City of Menifee, State of Califomia, FPG Sun Menifee 80
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 TR36803 / lP2i-013U, which agreement(s), dated October
25th 2022, 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 @cg Companv, as
surety, are held and firmly bound unto the City of Menifee in the penal sum of One
Hundred Twentv-Three Thousand Dollars,123 000.00 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 lruly keep and perform the covenants, conditions and provisions in the said
agreement(s) 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; otheruise, 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 attomeyb fees, incurred by the City of Menifee in successfully enforcing such
obligation, all to be taxed as costs and included in any judgment rendered.
The surety hereby stipulates and agrees that no change, extension of time, alteration or
addition to the terms of the agreement(s) 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 to the
terms of the agreement(s) or to the work or to the specifications..
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(s) 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
agreement(s).
NAME OF PRINCIPAL: FPG Sun Menifee 80 LLC
AUTHORTZED STGNATURE(S):
By:
tlarE: D, \? --r-q< -\Title: s11, D---\c\(*e-d\-
(IF CORPORATION, AFFIX SEAL)
NAME OF SURETY: Westfield National lnsurance Company
AUTHORIZED SIGNATURE:Stefan K.ttorney-in-Fact Title
(rF coRPoRAT|ON, AFFrX SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY]N.FACT.
FAITHFUL PERFORMANCE BOND
lN WITNESS WHEREOF, this instrument has been duly executed by the principal and surety
above named, on November 7th, 2022.