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FPG Sun Menifee 80 LLC Faithful Performance Bond TR36803 225122KFAITHFUL PERFORMANCE BOND CITY OF MENIFEE, STATE OF CALIFORNIA (Government Code Section 66499.1) FOR: Streets and Drainage $_ Riv. Co. Flood Control $ Tract Map TR36803 (Evans Road) Ref. lP21-0'l3U Bond No. 225122K Premium $ 1,352.00 FPG Sun Menifee 80 LLC 27271LasRamblas. Suite 100 Water System Rec. Water Sewer System Total 49 500.00 500.00 $ $ $ $169 000.00 Surety Westfield National lnsurance Companv Address P.O. Box 5001 Principal Address City/State Westfield Cente OH Cityl State Mission Vieio, CA Zip 44251-5001 zip 92691 Phone 330-887-0101 Phone 949-748-67'14 WHEREAS, the City Council of the City of Menifee, State of California, 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 / lP21-01!!,, which agreement(s), dated October 25rh 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 Westfield National lnsurance Cq4pany, as surety, are held and firmly bound unto the City of Menifee in the penal sum of One Hundred Sixty-Nine Thousand Dollars,169 000.00 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, lirmly 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(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; othenryise, 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 attorneyb fees, incurred by the City of Menifee in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered. Other Proj. '119,000.00 FAITHFUL 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 November 7th ,2022. NAME OF PRINCIPAL: FPG Sun Meni 80 LLC AUTHORIZED SIGNATURE(S): By: Name: gr\111 G*e\*r NAME OF SUREW: AUTHORIZED SIGNATURE: Title: 51q, Dc-r -1otl.{.s- (rF coRPoRAT|ON, AFFrX SEAL) n n Com Stefan K. E hardt Attorne n Its rney-in-Fact Title (IF CORPORATION, AFFIX SEAL) ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AIID ATTORNEY-IN-FACT.