FPG Sun Menifee 80 LLC Faithful Performance Bond TR36803 225121NFOR: Streets and Drainage
Riv. Co. Flood Control
Water System
Rec. Water
Sewer System
Total
Surety Westfield lnsurance Companv
Address P O. Box 5001
FAITHFUL PERFORMANCE BOND
CITY OF MENIFEE, STATE OF CALIFORNIA
(Government Code Section 66499.1)
4,333,000.00 Tract Map TR36803 (On Site)
Other Proj. Ref tP21-01 4SSD
Bond No. 225121N
Premium $34.664
,+3-l-l 000.00
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Principa
Address
I FPG Sun Menifee 80 LLC
Zip
Phone
WHEREAS, the City Council of the City of Menifee, State of California,FPG Sun Menifee 80LLC (hereinafter designated as "principal'') have entered into, or are about to enter into, the
attached agreement(s) whereby principal agrees lo install and complete the above designatedpublic improvements relating to TR36803 / lP21.014sSD, which agreement(s), dated
613012022 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 Westfield lnsurance Com
held and firmly bound unto the City of Menifee in the penal sum of
pany, as surety, are
Fou r illion ThreHundredThirtv Three Thousand and 0/100 Dollars-($4.333.000.00) lawful money of the
United States, for the payment of which sum will and truly be made, we bind ourselves, ourheirs, successors, executors and admi nistrators, jointly and severally, firmly by thesepresents
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, andwell and truly keep and perform the covenants, conditions and provisions in the saidagreement(s) and any alteration thereof made as therein provided, on his or their part, to bekept and performed at the time and in the manner therein specified, and in all respectsaccording to their true intent and meaning, and shall indemnify and save harmless the iity ofMenifee, its officers, agents and employees, as therein stipulated, then this obligation shallbecome null and void; othenrvise, it shall remain in full force and effect.
As a _
part of the obligation secured hereby and in addition to the face amount specifiedtherefore, there shall be included costs and reasonable expenses and fees, includingreasonable attorney's fees, incurred by the city of Menifee in successfully enforcing suchobligation, all to be taxed as costs and included in any judgment rendered.
City/State Westfield Center. OH
Zip 44251
Phone (330) 887-0101
City/State
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FA!THFUL PERFORMANCE BOND
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).
lN WITNESS WHEREOF, this instrument has been duly executed by the principal and surety
above named, on June 30,2022.
NAME OF PRINCIPAL: FPG Sun Men ifee 80 LLC
AUTHORIZED SIGNATURE(S):
By:
, b...-f -1qr.-*--t-
(IF CORPORATION, AFFIX SEAL)
NAME OF SURETY: Westfield surance C n
AUTHORIZED SIGNATURE:Karl Choltus
ts Attorney-in-F act Title
(rF coRPoRATrON, AFF|X SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND
ATTORNEY.IN.FACT.
* e*qs--A
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Name:
Title: