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31733 VTL Palizada, LLC - OBR & Released BondsOUTSTANDING BOND REPORT Tract Number: 31733 Development: Bellasara (Formerly Palizada) Developer/Owner: VTL Palizada, LLC (NOT the current Developer) (Former KB Home Coastal, Inc.) Bond Company: Atlantic Specialty Insurance Company 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Attn: Brook Smith Outstanding / Released Bonds: Bond Type Bond No. Amount: Date Replaced or Released Fugitive Dust 800012088 $121,500 Released 2/16/2021 Control (PM 10) Performance 800012088 $7,613,958 Released 3/31/2021 On -Site Performance 800012089 $1,003,135 Released 3/31/2021 Off -Site Performance 800012090 $322,500 Released 3/31/2021 Off -Site Labor & Material 800012090 $2,646,306 Released 3/31/2021 Off -Site Labor & Material 800012089 $322,500 Released 3/31/2021 Off -Site Current Developer: Project LQ, LLC *NO OPEN BONDS — THE CITY HAS A LEIN CONTRACT WITH PROJECT LQ, LLC* *SEE PROJECT FILE IN LF* ta Q"tra CALIFORNIA March 31, 2021 VTL Palizada, LLC Attn: Peggy Salzer 1350 17t" St, Ste. 350 Denver, CO 80202 Re: Tract Map Nos. 31732 and 31733 Palizada To whom it may concern: Per authorization from the Design and Development Department, the City Clerk's office hereby releases the following Performance Bonds, and Labor and Material Bonds: Bond Number Performances Labor &Materials Security Security 800012087 $7,382 797 - 800012085 $2,646,306 $2,646,306 800012086 $ 322,500 _ $ 322,500 800012091 $7 613 958 - 800012089 $1 003 135 $1,003,135 800012090 $ 322,500 $ 322,500 If you have any questions, please call me at (760) 777-7092. Sincerely, Nichole Romane Deputy City Clerk c: Bryan McKinney, Public Works Director/City Engineer Atlantic Specialty Insurance Company File NEOPOST FiFsT-:,�_��,�� M;"IL 1 U5 PQSTAGE USPS CERTIFIED MAIL - ;ity of La Quinta '8495 Calle Tampico .a Quinta CA 92253 9214 8901 8804 0800 0343 08 VTL -PAL-RADA LLC ATTN: PEGGY SALZER STE 350 1350 17TH ST DENVER CO 80202-1925 ItY 041M11452208 SUBDIVISION IMPROVEMENTS Tract Map No. 31733 PERFORMANCE BOND Bond Number: 800012089 KNOW ALL MEN BY THESE PRESENTS: THAT, the City Council of the City of La Quinta has approved the final map for Tract Map No. 31733 , prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREAS, the City Council of the City of La Quinta, State of California, and VTL Palizada LLC, a Dela•,^.•ire limited liability company hereinafter designated as ("principal") have entered into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, dated A LAG- U S T t 20, 17 , and identified as Tract Map No. 31733 , is hereby referred to and made a part hereof; and WHEREAS, said principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the principal and Atlantic Specialty Insurance Company , as surety, are held and firmly bound unto the City of La Quinta hereinafter called ("City"), in the penal sum of One Million Three Thousand One Hundred Thirty -Five and 00/100 DOLLARS ($ 1,003,135.00 ) lawful money of the United States, for the payment of which sum well and truly to 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 bounded 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, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and 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 City 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 or to the work to be performed hereunder or the specifications accompanying the same shall in any manner affect its obligations 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 or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the principal and surety above named, on July 7 , 20 17. VTL Palizada LLC a Delaware limited liability company Principal (Seal) Signature of Principal Title of Signatory Atlantic Specialty Insurance Company Surety (Seal) Signature of Surety Brook T. Smith Attorney -in -Fact Title of Signatory 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Address of Surety (952) 852-2431 Phone # of Surety Brook T. Smith Contact Person For Surety 41/ One Beacon INSURANCEGROUP Power of Attorney KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, docs hereby constitute and appoint: Brook T. Smith, James T. Smith, Raymond M. Hundley, Jason D. Cromwell, James H. Martin, Deborah S. Neichter, Michele D. Lacrosse, each individually if there be more than one named, its true and lawful Attorney -in -Fact, to make, execute, seal and deliver, for and on its behalf as surety, any and all ponds. recegnizances, contracts of indemnity, and all other writings obligatory in the nature thereof; provided that no bond or undertaking executed under this authority shall exceed in amount the sum of: sixty million dollars ($60,000,000) and the execution of such bonds, rncogniztnccs, contracts of indemnity, and all other writings obligatory in the nature thereof in pursuance of these presents, shall by as binding upon said Company us if they had been fully signed by an authorized officer of the Company and scaled with the Company seal. This Power of Attorney is niadc and executed by authority of the following resolutions adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of Septombcr. 2012: Resolved: That thc President, any Senior Vice President or Vice -President (each an "Authorized Officer') may execute for and in behalf of the Company any and all bonds, recognlrances, contracts of indemnity, and all otherwTritings obligatory in the nature thereof, and affix the seal of the Company thereto; and that the Authorized Officer may appoint and authorize an Attorney -in -Fact to execute on behalf of thc Company any and all such instruments and to affix the Company seal thereto; and that the Authorized Officer may at any time remove any such Attorncy-in-Fact and revoke al] power and authority given to any such Attorncy-in- Fact. ResoI Ved: That the Attorncy-in-Fact may be gIVen full power and authority to execute. for and .in the name and on behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney -in -Fact shall be as binding upon the Company as if sign cd and scaled by Fitt Authorized Officer and, further, the Attorney -in -Fact is hereby authorized to verify any affidavit required to be attached to bonds, recognisances, contracts of indemnity. and all other writings obligatory in the nature thereof. This power of attomey is signcd and scaled by facsimile under thc authority of thc following Resolution adoptcd by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the signature of an Authorized Officer, the signature of the Sccrctary or the Assistant Secretary, and the Company seal may be affixed by facsimile to any power of attorney or to any certificate. relating thereto appointing an Attorney -in -Fact for purposes only of executing and scaling any bond, undertaking, recognizance or other written obligation in the nature thereof, and any such signature and scal where so used, being hereby adopted by the Company as the original signature of such officer and the original scai of thc Company, to be valid and binding upon the Company with the same force and effect as though manually affixed. IN WITNESS WHEREOF, ATLANTIC SPECIALTY INSURANCE COMPANY has causcd these presents to be signed by an Authorized Officer and thc scal of the Company to be affixed this eighth day of December, 2014. owl SC, $¢4 6pOrio 1- SEAL rti 19$6 og By STATE OF MINNESOTA = 6 pew 09, da = HENNEPIN COUNTY Y > l°� On this eighth day of December, 2014, bcforc mc personally came Paul J. Brehm, Scnior Vice President of ATLANTIC SPECIALTY INSURANCE COMPANY, to mc personally known to be the individual and officer described in and who executed thc preceding instrument, and he acknowledged thc cxccution of thc samc, and bcing by mc duly sworn, that he is thc said officer of thc Company aforesaid, and that thc seal affixed to thc preceding instrument is the seal of said Company and that thc said scal and thc signature as such officer was duly affixed and subscribcd to the said instrument by thc authority and at thc direction of thc Company. Paul J. Brchm, Scnior Vice Prcsidcnt t • I TARA JANELLE STAFFORD NOTARY PUBLIC - MINNESOTA My Commission Expires January 31, 2020 t1`IIISI. „of' Notary Public I, thc undersigned, Assistant Sccrctary of ATLANTIC SPECIALTY INSURANCE COMPANY, a New York Corporation, do hereby certify that thc forcgoing power of attomcy is in full force and has not be--7-14L n revoked, and thc resolutions set forth above arc now in force. Signed and scaled. Dated ! ' - day of JO 1%1 ,z421/.. This Powcr of Attorney expires October 1, 2017 `p'Lq Yss" i N SG4 i eU 09" =rATtr9 10 SEAL m 1986 o S�bj�EW roP�.sai� James G. Jordan, Assistant Sccrctary CALIFORNIA ALL- PURPOSE CERTIFICATE OF ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies 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 Kentucky } County of Jefferson } On July 7, 2017 before me, Sandra L. Fusinetti, Notary Public personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her -Asir authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. Brook T. Smith (here insert name and title of the officer) certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Notary Public Signature My commission expires 2/13/2020 (Notary Public Seal) ADDITIONAL OPTIONAL INFORMATION DESCRIPTION OF THE ATTACHED DOCUMENT (Title or description of attached document) (Title or description of attached document continued) Number of Pages Document Date CAPACITY CLAIMED BY THE SIGNER ❑ Individual (s) ❑ Corporate Officer E (Title) Partner(s) Attorney -in -Fact Trustee(s) Other 2015 Version www.NotaryClasses.com 800-873-9865 INSTRUCTIONS FOR COMPLETING THIS FORM This form complies with current California statutes regarding notary wording and, if needed, should be completed and attached to the document. Acknowledgments from other states may be completed for documents being sent 10 that slate so long as the wording does not require the California notary to violate California nolaty law. • State and County information must be the State and County where the document signer(s) personally appeared before the notary public for acknowledgment. • Date of notarization must be the date that the signer(s) personally appeared which must also be the same date the acknowledgment is completed. • The notary public must print his or her name as it appears within his or her commission followed by a comma and then your title (notary public). • Print the name(s) of document signer(s) who personally appear at the time of notarization. • Indicate the correct singular or plural forms by crossing off incorrect forms (i.e. he/she/they, is /aria ) or circling the correct forms. Failure to correctly indicate this information may lead to rejection of document recording. • The notary seal impression must be clear and photographically reproducible. Impression must not cover text or lines. If seal impression smudges, re -seal if a sufficient area permits, otherwise complete a different acknowledgment form. • Signature of the notary public must match the signature on file with the office of the county clerk. • Additional information is not required but could help to ensure this acknowledgment is not misused or attached to a different document. • Indicate title or type of attached document, number of pages and date. • Indicate the capacity claimed by the signer. If the claimed capacity is a corporate officer, indicate the title (i.e. CEO, CFO, Secretary). • Securely attach this document to the signed document with a staple. SUBDIVISION IMPROVEMENTS Tract Map No. 31733 LABOR AND MATERIAL BOND Bond Number: 800012089 KNOW ALL MEN BY THESE PRESENTS: THAT, the City Council of the City of La Quinta has approved the final map for Tract No. 31733 , prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREAS, the City Council of the City of La Quinta, State of California, and VTL Palizada LLC, a Delaware limited liability company hereinafter designated as "the principar' have entered into an agreement whereby the principal agrees to install and complete certain designated public improvements, which agreement, dated , 20 , and identified as Tract Map No. 31733 , is hereby referred to and made a part hereof; and WHEREAS, under the terms of the agreement, the principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of La Quinta to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. NOW, THEREFORE, the principal and the undersigned as corporate surety, are held firmly bound unto the City of La Quinta and all contractors, subcontractors, laborers, materialmen, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum of One Million Three Thousand One Hundred Thirty -Five and 00/100 DOLLARS ($ 1,003.135.00 ) for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to this work or labor, that the surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney' s fees, incurred by city in successfully enforcing this obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered. It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond. Should the condition of this bond be fully performed, then this obligation shall become null and void, otherwise it shall be and remain in full force and effect. The surety hereby stipulates and agrees that no change, extension of time, alteration, or addition to the terms of the agreement or the specifications accompanying the same shall in any manner affect its obligations on this bond, and it does hereby waive notice of any such change, extension, alteration, or addition. In witness whereof, this instrument has been duly executed by the principal and surety above named, on July 7 , 20 17. VTL Palizada LLC a Delaware limited liability company Principal (Seal) Signature of Principal (Seal) Title of Signatory Atlantic Specialty Insurance Company Surety Signature of Surety Brook T. Smith Attorney -in -Fact Title of Signatory 605 Hi0hway 169 North, Suite 800 Plymouth, MN 55441 Address of Surety (9521 852-2431 Phone # of Surety Brook T. Smith Contact Person For Surety One Beacon INSURANCE GROUP Power of Attorney KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, docs hcrcby constitutc and appoint: Brook T. Smith, James T. Smith, Raymond M. Hundley, Jason D. Cromwell, James H. Martin, Deborah S. Neichter, Michele D. Lacrosse, each individually if there be morc than one named, its true and lawful Attorney -in -Fact, to make, execute, seal and deliver, for and on its behalf as surety, any and all bonds, rccognizances, contracts of indemnity, and all othcr writings obligatory in the naturc thcrcof; provided that no bond or undertaking executed undcr this authority shall exceed in amount the sum of: sixty million dollars ($60,000,000) and the execution of such bonds, rccognizances, contracts of indcmnity, and all other writings obligatory in the nature thcrcof in pursuance of thcsc presents, shall be as binding upon said Company as if they had bccn fully signcd by an authorizcd officer of the Company and scaled with thc Company seal. This Power of Attomcy is made and executed by authority of thc following resolutions adoptcd by thc Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on thc twenty-fifth day of September, 2012: Resolved: That the President, any Scnior Vicc President or Vicc-President (each an "Authorized Officer) may execute for and in behalf of the Company any and all bonds, rccognizances, contracts of indemnity, and all othcr writings obligatory in the nature thcrcof. and affix the seal of the Company thereto; and that thc Authorized Officer may appoint and authorizc an Attorney -in -Fact to execute on behalf of the Company any and all such instrumcnts and to affix thc Company seal thereto; and that thc Authorizcd Officer may at any time remove any such Attomcy-in-Fact and revoke all powcr and authority given to any such Attorney -in - Fact. Resolved: That thc Attorney -in -Fact may be given full power and authority to execute for and in thc namc and on behalf of thc Company any and all bonds, rccognizances, contracts of indemnity, and all other writings obligatory in thc nature thcrcof, and any such instrument executed by any such Attomcy-in-Fact shall be as binding upon thc Company as if signed and scaled by an Authorized Officer and, further, thc Attorney -in -Fact is hcrcby authorizcd to verify any affidavit required to be attached to bonds, recognizances, contracts of indemnity, and all other writings obligatory in thc nature thereof. This power of attorney is signed and scaled by facsimile undcr thc authority of thc following Resolution adopted by thc Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on thc twenty-fifth day of September, 2012: Resolved: That the signature of an Authorized Officer, the signature of thc Secretary or thc Assistant Secretary, and thc Company seal may be affixed by facsimile to any power of attorney or to any certificate relating thereto appointing an Attomcy-in-Fact for purposes only of executing and scaling any bond, undertaking, recognizance or other written obligation in the nature thereof. and any such signature and seal where so used, being hcrcby adopted by the Company as the original signature of such officer and thc original scal of the Company. to be valid and binding upon thc Company with the same force and effect as though manually affixed. IN WITNESS WHEREOF, ATLANTIC SPECIALTY INSURANCE COMPANY has caused these presents to be signed by an Authorized Officer and thc scal of the Company to be affixed this eighth day of December, 2014. py11 r U .rr pf\ fK SEAL ^i, 1986 0' By STATE OF MINNESOTA W4 -6V -0b/ Paul J. Brehm, Senior Vicc President HENNEPIN COUNTY On this cighth day of December, 2014, before me personally camc Paul J. Brehm, Senior Vicc President of ATLANTIC SPECIALTY INSURANCE COMPANY, to me personally known to be thc individual and officer described in and who executed thc prcccding instrument, and he acknowledged thc execution of thc same, and being by mc duly sworn, that he is thc said officer of the Company aforesaid, and that thc seal affixed to thc preceding instrument is thc seal of said Company and that thc said seal and thc signaturc as such officer was duly affixed and subscribcd to thc said instrument by thc authority and at the direction of thc Company. 7m 'nrrr TARA JANELLE STAFFORD 1 NOTARY PUBLIC - MINNESOTA ' 1 `tet,:' My Commission Expires January 31. 2020 Notary Public I, thc undersigned, Assistant Secretary of ATLANTIC SPECIALTY INSURANCE COMPANY, a New York Corporation, do hcrcby certify that thc forcgoing powcr of attorney is in full force and has not bccn revoked, and the resolutions set forth above arc now in force. Signcd and sealed. Dated 7+6 day of J Jay ,2017. This Power of Attorney expires October 1, 2017 t000Poe SEAL rs 1986 ci Xv- yFw 00-da�' James G. Jordan, Assistant Secretary CALIFORNIA ALL- PURPOSE CERTIFICATE OF ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies 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 Kentucky } County of Jefferson } On July 7, 2017 before me, Sandra L. Fusinetti, Notary Public (Here insert name and title of the officer) personally appeared Brook T. Smith who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/het/their authorized capacity(ies), and that by his/het/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. jar-Alia- e, 1.1-7 Notary Public Signature (Notary Public Seal) My commission expires 2/13/2020 f • ADDITIONAL OPTIONAL IN FORMAT ON INSTRUCTIONS FOR COMPLETING THIS FORM This form complies with current California statutes regarding notary wording and, DESCRIPTION OF THE ATTACHED DOCUMENT if needed, should be completed and attached to the document. Acknowledgments from other stales may be completed for documents being sent to that state so long as the wording does not require the California notary to violate California notary law. (Title or description of attached document) • State and County information must be the State and County where the document signer(s) personally appeared before the notary public for acknowledgment, Date (Title or description of attached document continued) Number of Pages Document Date • of notarization must be the date that the signer(s) personally appeared which must also be the same date the acknowledgment is completed • The notary public must print his or her name as it appears within his or her commission followed by a comma and then your title (notary public). • Print the name(s) of document signer(s) who personally appear at the time of notarization. CAPACITY CLAIMED BY THE SIGNER ❑ Individual (s) ❑ Corporate Officer • Indicate the correct singular or plural forms by crossing off incorrect fomes (i.e. he/she/they, is /are) or circling the correct forms. Failure to correctly indicate this information may lead to rejection of document recording. • The notary seal impression must be clear and photographically reproducible. Impression must not cover text or lines. If seal impression smudges, re -seal if a (Title) ❑ Partner(s)• ® Attorney -in -Fact o Trustee(s) ❑ Other sufficient area permits, otherwise complete a different acknowledgment form. • Signature of the notary public must match the signature on file with the office of the county clerk. . Additional information is not required but could help to ensure this acknowledgment is not misused or attached to a different document. Indicate title or type of attached document, number of pages and date. Indicate the capacity claimed by the signer. If the claimed capacity is a corporate officer, indicate the title (i.e. CEO, CFO, Secretary). 2015 Version www.NotaryClasses.com 800-873-9865 • Securely attach this document to the signed document with a staple. SUBDIVISION IMPROVEMENTS Tract Map No. 31733 PERFORMANCE BOND Bond Number: 800012090 KNOW ALL MEN BY THESE PRESENTS: THAT, the City Council of the City of La Quinta has approved the final map for Tract Map No. 31733 , prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREAS, the City Council of the City of La Quinta, State of California, and VTL Palixada LLC, a Delay:are limited liability componv hereinafter designated as ("principal") have entered into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, dated A G LCS r I? 20 I'] , and identified as Tract Map No. 31733 is hereby referred to and made a part hereof; and WHEREAS, said principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the principal and Atlantic Specialty Insurance Company , as surety, are held and firmly bound unto the City of La Quinta hereinafter called ("City"), in the penal sum of Three Hundred Twenty -Two Thousand Five Hundred and 00/100 DOLLARS ($ 322,500.00 ) lawful money of the United States, for the payment of which sum well and truly to 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 bounded 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, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and 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 City 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 or to the work to be performed hereunder or the specifications accompanying the same shall in any manner affect its obligations 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 or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the principal and surety above named, on July 7 , 20 17. VTL Palizada LLC a Delaware limited liability company Principal (Seal) Signature of Principal Title of Signatory Atlantic Specialty Insurance Company Surety rz� (Seal) Signature of Surety Brook T. Smith Attorney -in -Fact Title of Signatory 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Address of Surety (952) 852-2431 Phone # of Surety Brook T. Smith Contact Person For Surety One Beacon INSURANCE GROUP Power of Attorney KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, docs hcrcby constitute and appoint: Brook T. Smith, James T. Smith, Raymond M. Hundley, Jason D. Cromwell, James H. Martin, Deborah S. Neichter, Michele D. Lacrosse, each individually if there be morc than one named, its truc and lawful Attorney -in -Fact, to make, cxccutc, seal and deliver, for and on its behalf as surcty, any and all bonds, recognizanccs, contracts of indemnity, and all other writings obligatory in the nature thereof; provided that no bond or undertaking executed undcr this authority shall exceed in amount the sum of: sixty million dollars ($60,000,000) and thc execution of such bonds, recognizanccs, contracts of indemnity, and all othcr writings obligatory in thc nature thereof in pursuance of these presents, shall be as binding upon said Company as if they had been fully signcd by an authorized officer of the Company and scaled with the Company seal. This Power of Attorney is made and executed by authority of the following resolutions adoptcd by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on thc twenty-fifth day of September, 2012: Resolved: That the President, any Senior Vice Prcsidcnt or Vicc-President (each an "Authorized Officer") may cxccutc for and in behalf of the Company any and all bonds, recognizanccs, contracts of indemnity, and all othcr writings obligatory in the nature thcrcof, and affix thc seal of the Company thereto; and that the Authorized Officer may appoint and authorize an Attomcy-in-Fact to cxccutc on behalf of the Company any and all such instruments and to affix thc Company seal thereto; and that the Authorized Officer may at any timc remove any such Attomcy-in-Fact and revoke all power and authority given to any such Attomcy-in- Fact. Resolved: That the Attomey-in-Fact may be given full power and authority to execute for and in the name and on behalf of the Company any and all bonds, recognizanccs, contracts of indemnity, and all othcr writings obligatory in the nature thereof, and any such instrument executed by any such Attomcy-in-Fact shall be as binding upon the Company as if signcd and scaled by an Authorized Officer and, further, the Attomcy-in-Fact is hcrcby authorizcd to verify any affidavit required to be attached to bonds, recognizanccs, contracts of indemnity, and all other writings obligatory in the nature thereof. This power of attorney is signed and scaled by facsimile undcr the authority of the following Resolution adopted by thc Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on thc twenty-fifth day of September, 2012: Resolved: That the signature of an Authorized Officer. the signature of the Secretary or the Assistant Secretary, and the Company seal may be affixed by facsimile to any power of attorney or to any certificate ',elating thereto appointing an Attorney -in -Fact for purposes only of executing and scaling any bond, undertaking, recognizance or other written obligation in the nature thcrcof. and any such signature and scat where so used, being hereby adopted by thc Company as thc original signature of such officer and the original scal of the Company, to be valid and binding upon thc Company with the same force and effect as though manually affixed. IN WITNESS WHEREOF, ATLANTIC SPECIALTY INSURANCE COMPANY has caused these presents to be signcd by an Authorized Officer and the scal of thc Company to be affixed this eighth day of December, 2014. STATE OF MINNESOTA HENNEPIN COUNTY INg"',, _¢G ow' °Rip,"IA Fm SEAL m, r 1986 Q _ By pl w roQ�aa�? Paul J. Brehm, Scnior Vicc President On this eighth day of December, 2014, before me personally came Paul J. Brchm, Senior Vicc President of ATLANTIC SPECIALTY INSURANCE COMPANY, to mc personally known to be the individual and officer described in and who executed thc preceding instrument, and he acknowledged thc execution of the same, and bcing by mc duly sworn, that he is the said officer of the Company aforesaid, and that the seal affixed to thc preceding instrument is the seal of said Company and that the said seal and the signature as such officer was duly affixed and subscribed to thc said instrument by thc authority and at the direction of the Company. +"^r"'x TARA JANELLE STAFFORD I .4 ezi. NOTARY PUBLIC • MINNESOTA + , My Commission Expires 1 January 31, 2020 w if - i f 2 Notary Public I, thc undersigned, Assistant Secretary of ATLANTIC SPECIALTY INSURANCE COMPANY, a New York Corporation, do hcrcby certify that the forcgoing powcr of attomcy is in full force and has not been revoked, and the resolutions set forth above arc now in force. Siened and sealed. Dated 7'411 day or 1,011 , 2. This Power of Attorney expires October I, 2017 James G. Jordan, Assistant Secretary CALIFORNIA ALL- PURPOSE CERTIFICATE OF ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies 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 Kentucky } County of Jefferson } On July 7, 2017 before me, Sandra L. Fusinetti, Notary Public (Here insert name and title of the officer) personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/ahe/t ey executed the same in his/lief/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. Brook T. Smith I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. _i_JJ,71.44za , Notary Public Signature My commission expires 2/13/2020 • (Notary Public Seal) ADDITIONAL OPTIONAL INFORMAT DESCRIPTION OF THE ATTACHED DOCUMENT (Title or description of attached document) (Title or description of attached document continued) Number of Pages Document Date • INSTRUCTIONS FOR COMPLETING THIS FORM ON This form complies with current California statutes regarding notary wording and, if needed, should be completed and attached to the document. Acknowledgments from other states may be completed for documents being sent 10 that state so long as the wording does not require the California notary to violate California notary lacy. • State and County information must be the State and County where the document signer(s) personally appeared before the notary public for acknowledgment. • Date of notarization must be the date that the signer(s) personally appeared which must also be the same date the acknowledgment is completed. • The notary public must print his or her name as it appears within his or her commission followed by a comma and then your title (notary public). • Print the name(s) of document signer(s) who personally appear at the time of notarization. • Indicate the correct singular or plural forms by crossing off incorrect forms (i.e. lie/she/they, is /are) or circling the correct forms. Failure to correctly indicate this information may lead to rejection of document recording, • The notary seal impression must be clear and photographically reproducible. Impression must not cover text or lines. If seal impression smudges, re -seal if a sufficient area permits, otherwise complete a different acknowledgment form. • Signature of the notary public must match the signature on file with the office of the county clerk. Additional information is not required but could help to ensure this acknowledgment is not misused or attached to a different document . Indicate title or type of attached document, number of pages and date. • Indicate the capacity claimed by the signer. If the claimed capacity is a corporate officer, indicate the title (i.e. CEO, CFO, Secretary). • Securely attach this document to the signed document with a staple. CAPACITY CLAIMED BY THE SIGNER ❑ Individual (s) ❑ Corporate Officer E (Title) Partner(s) Attorney -in -Fact Trustee(s) Other 2015 Version www.NotaryClasses.com 800-873-9865 SUBDIVISION IMPROVEMENTS Tract Map No. 31 713 LABOR AND MATERIAL BOND Bond Number: 800012090 KNOW ALL MEN BY THESE PRESENTS: THAT, the City Council of the City of La Quinta has approved the final map for Tract No. 31733 , prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREAS, the City Council of the City of La Quinta, State of California, and VTL Palizada LLC, a Delaware limited liability company hereinafter designated as"the principal" have entered into an agreement whereby the principal agrees to install and complete certain designated public improvements, which agreement, dated , 20 , and identified as Tract Map No. 31733 , is hereby referred to and made a part hereof; and WHEREAS, under the terms of the agreement, the principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of La Quinta to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. NOW, THEREFORE, the principal and the undersigned as corporate surety, are held firmly bound unto the City of La Quinta and all contractors, subcontractors, laborers, materialmen, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum of Three Hundred Twentv-Two Thaue:nd Five Hundred and 00/100 DOLLARS ($ 322.500.00 ) for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to this work or labor, that the surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney' s fees, incurred by city in successfully enforcing this obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered. It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond. Should the condition of this bond be fully performed, then this obligation shall become null and void, otherwise it shall be and remain in full force and effect. The surety hereby stipulates and agrees that no change, extension of time, alteration, or addition to the terms of the agreement or the specifications accompanying the same shall in any manner affect its obligations on this bond, and it does hereby waive notice of any such change, extension, alteration, or addition. In witness whereof, this instrument has been duly executed by the principal and surety above named, on July 7 , 20 17. VTL Palizada LLC a Delaware limited liability company Principal (Seal) Signature of Principal (Seal) Title of Signatory Atlantic Specialty Insurance Company Surety ---------- Signature �-- Signature of Surety Brook T. Smith Attorney -in -Fact Title of Signatory 605 Highway 169 North, Suite 800 Plymouth, MN 55447. Address of Surety (952) 852-2431 Phone # of Surety Brook T. Smith Contact Person For Surety tO One Beacon INSURANCE GROUP Power of Attorney KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, docs hereby constitute and appoint: Brook T. Smith, James T. Smith, Raymond M. Handley, Jason D. Cromwell, James H. Martin, Deborah S. Neichter, Michele D. Lacrosse, each individually if there be more than one named, its true and lawful Attorney -in -Fact, to make, execute, seal and deliver. For and on its behalf as surety, any and all bonds, rccognizances, contracts of indemnity, and all other writings obligatory in the nature thereof: provided that no bond or undertaking executed under this authority shall exceed in amount thc sum of sixty million dollars (S0,00O,000) and the execution of such bonds, rccogn izanecs, contracts of indemnity, and all other writings obligatory in the nature thereof in pursuance of these presents, shall be as binding upon said Company as if they had been fully signed by an authorized officer of the Company and scaled with the Cotitpany seal. This Power of Attorney is made and executed by authority of the fallowing resolutions adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the President, any Senior Vier President or Vice -President (each an "Authorized Officer") may execute for and in behalf of the Company any and all bonds, rccognizanccs, contracts of indemnity, and all other \Things obligatory in the nature thereof, and affix the seal of the Company thereto; and that the Authorized Officer may appoint and authorize an Attorney -in -Fact to execute on behalf of the Company any and all such instruments and to affix the Company seal thereto; and that the Authorized Officer may at any timc remove any such Attorney -in -Fact and revoke all power and authority given to any such Attorney -in - Fact. Resolved- That the Anomcy-in-Fact may be given full power and authority to execute for and in the name and an behalf of the Company any and all bonds, recognizanccs, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney -in -Fact shall be as binding upon the Company as if signed and sealed by an Authorized Officer and. further, the Attorney -in -Fact is hereby authorized tb verify any affidavit required to be attached to bonds, recognizances, contracts of indemnity, and alt other writings obligatory in the nature thereof. This power of attorney is signed and scaled by facsimile under the authority of the following Resolution adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the signature of an Authorized Officer, the signature of the Secretary or the Assistant Secretary, and the Company scat may be affixed by facsimile to any power of attorney or to any certificate relating thereto appointing an Attorney -in -Fact for purposes only of executing and scaling any bond, undertaking, recognizance or other written obligation in the nature thereof, and any such signature and seal where so used, being hereby adopted by thc Company as the original signature of such officer and the original seal of the Company, to bc valid and binding upon the Company with the same force and effect as though manually affixed. IN WITNESS WHEREOF, ATLANTIC SPECIALTY INSURANCE COMPANY has caused these presents to be signed by an Authorized Officer and the seal of the Company to bc affixed this eighth day of December, 2014. ,1 INg"" le cpPPCRgrr,.9�' SEAL m 1986 'o_ By STATE HENNEPOF IN COUNTY MINNESOTA bt w�o ��da� On this eighth day of December, 2014, before mc personally came Paul J. Brehm, Senior Vice President of ATLANTIC SPECIALTY INSURANCE COMPANY, to me personally known to be the individual and officer described in and who executed the preceding instrument, and he acknowledged thc execution of the same, and bcing by mc duly sworn, that he is the said officer of the Company aforesaid, and that thc seal affixed to the preceding instrument is the scal of said Company and that the said scal and the signature as such officer was duly affixed and subscribed to the said instrument by the authority and at the direction of the Company. ("41 -- Paul J. Brehm, Senior Vice President TARA JANELLE STAFFORD NOTARY PUBLIC -MINNESOTA My Commission Expires January 31, 2020 11 l ,4, 11%11 ffi°* N. Notary Public I, the undersigned, Assistant Secretary of ATLANTIC SPECIALTY INSURANCE COMPANY, a Ncw York Corporation, do hcrcby certify that thc foregoing powcr of attorney is in full force and has not been }revoked, and the resolutions sot forth above are now in force. Signcd and scaled. Dated ! ' day of JO 17 ,2.Q)7. This Powcr of Attomcy expires October 1, 2017 ..,rAyZY IN8UA6s FyWV Gp1PS0Rgp m s SEAL aJ 1988 a r'y1. +F4, roPsry a$. tJ James G. Jordan, Assistant Secretary CALIFORNIA ALL- PURPOSE CERTIFICATE OF ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies 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 Kentucky } County of Jefferson } On July 7, 2017 before me, Sandra L. Fusinetti, Notary Public lHere insert neree and Vile of the officers personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/ace subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/he lthefF authorized capacity(i , and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. Brook T. Smith I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Notary Public Signature My commission expires 2/13/2020 • (Notary Public Seal) ADDITIONAL OPTIONAL INFORMAT ON DESCRIPTION OF THE ATTACHED DOCUMENT (Title or description of attached document) (Title or description of attached document continued) Number of Pages Document Date CAPACITY CLAIMED BY THE SIGNER ❑ Individual (s) ❑ Corporate Officer (Title) ❑ Partner(s) • Attorney -in -Fact ❑ Trustee(s) ❑ Other 2015 Version www.NotaryClasses.com 800-873-9865 INSTRUCTIONS FOR COMPLETING THIS FORM This form complies with current California statutes regarding notary wording and, if needed, should be completed and attached 10 the document. Acknowledgments from other states may be completed for documents being sent to that stale so long as the wording does not require the California notary to violate California notary law. • State and County information must be the State and County where the document signer(s) personally appeared before the notary public for acknowledgment. • Date of notarization must be the date that the signer(s) personally appeared which must also be the same date the acknowledgment is completed. • The notary public must print his or her name as it appears within his or her commission followed by a comma and then your title (notary public). • Print the name(s) of document signer(s) who personally appear at the time of notarization. • Indicate the correct singular or plural forms by crossing off incorrect forms (i.e. 4e/she/they, is /are) or circling the correct forms. Failure to correctly indicate this information may lead to rejection of document recording. • The notary seal impression must be clear and photographically reproducible. Impression must not cover text or lines. If seal impression smudges, re -seal if a sufficient area permits, otherwise complete a different acknowledgment form. • Signature of the notary public must match the signature on file with the office of the county clerk. • Additional information is not required but could help to ensure this acknowledgment is not misused or attached to a different document • Indicate title or type of attached document, number of pages and date • Indicate the capacity claimed by the signer. If the claimed capacity is a corporate officer, indicate the title (i.e. CEO, CFO, Secretary). • Securely attach this document to the signed document with a staple. SUBDIVISION IMPROVEMENTS Tract Map No. 31733 PERFORMANCE BOND - ON-SITE Bond Number: 800012091 KNOW ALL MEN BY THESE PRESENTS: THAT, the City Council of the City of La Quinta has approved the final map for Tract Map No. 31733 , prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREAS, the City Council of the City of La Quinta, State of Califomia, and VTL Paltzdda LLC, a Dela tare company hereinafter designated as ("principal") have entered into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, dated A DI G 1.1_5 1- 1 20, l ? , and identified as Tract Map No. 31733 , is hereby referred to and made a part hereof; and WHEREAS, said principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the principal and Atlantic Specialty Insurance Company , as surety, are held and firmly bound unto the City of La Quinta hereinafter called ("City"), in the penal sum of Seven M:II, n SrX:lundrad Thirteen Thousand Nine Hundred Fitly-Fighty-Eight and 000 00 DOLLARS ($ 7.613.08.00 ) lawful money of the United States, for the payment of which sum well and truly to 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 bounded 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, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and 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 City 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 or to the work to be performed hereunder or the specifications accompanying the same shall in any manner affect its obligations 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 or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the principal and surety above named, on July 7 , 20 17. VTL Palizada LLC a Delaware limited liability company Principal (Seal) Signature of Principal Title of Signatory Atlantic Specialty Insurance Company Surety (Seal) Signature of Surety Attorney -in -Fact Brook T. Smith Title of Signatory 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Address of Surety (952) 852-2431 Phone # of Surety Brook T. Smith Contact Person For Surety • tali 04 One Beacon WSURANCEGROUPP Power of Attorney KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, does hcrcby constitute and appoint: Brook T. Smith, James T. Smith, Raymond M. Hundley, Jason D. Cromwell, James H. Martin, Deborah S. Neichter, Michele D. Lacrosse, each individually if there be more than one named, its true and lawful Attorney -in -Fact, to make, execute, seal and deliver, for and on its behalf as surety, any and all bonds, recognizanucs, contracts of indemnity, and all other writings obligatory in the nature thereof; provided that no bond or undertaking executed under this authority shall exceed in amount the sum of: sixty million dollars (S60,000,000) and the execution of such bonds, rccognizanccs. contracts of indemnity, and all other writings obligatory in the nature thcrcof in pursuance of these presents, shall be as binding upon said Company as if they had been fully signed by an authorized officer of the Company and scaled with thc Company seal. This Power of Attorney is made and executed by authority of the following resolutions adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on thc twenty-fifth day of September, 2012: Resolved: That the President, any Senior Vice President or Vice -President (each an "Authori2cd Officer") may execute for and in behalf of the Company, any and all bonds, recognizanccs, contracts of indemnity, and all other writings obligatory in the nature thereof, and affix the sea] of the Company thereto: and that the Authorized Officer may appoint and authorize an Attorney -in -Fact to execute on behalf of the Company any and all such instruments and to affix the Company seal thereto: and that the Authorized Officer may at any time remove any such Attorney -in -Fact and revoke all power and authority given to any such Attorney -in - Fact. Resolved: That the Attorney -in -Fact may be given full power and authority to execute for and in the name and on behalf of the Company any and all bonds, recogriizancts, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney -in -Fact shall be as binding upon the Company as if signed and scaled by an Authorized Officer and, further. the Attorney -in -Fact is hereby authorized to verify any affidavit required to be attached to bonds, recognizances, contracts of indemnity, and al] other writings obligatory in the nature thereof. This power of attomcy is signed and scaled by facsimile under the authority of the following Resolution adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the signature. of an Authorized Officer, the signature of the Secretary or the Assistant Secretary, and the Company sad may be affixed by facsimile to any power of attorney or to any certificate relating thereto appointing an Attorney -in -Fact for purposes only of executing and sealing any bond, undertaking, recognizance or other written obligation in the nature thereof, and any such signature and seal where so used, being hereby adopted by the Company as tic original signature of such officer and the original seal of the Company, to be valid and binding upon the Company with the same force and effect as though manually affixed. IN WITNESS WHEREOF, ATLANTIC SPECIALTY INSURANCE COMPANY has causcd these presents to be signed by an Authorizcd Officer and the seal of the Company to be affixed this eighth day of Dcccmbcr, 2014. {`ALgY irVgf74 f9GEJRPtOPi 'yh SEAL m r 1986 0 = By STATE OF MINNESOTA HENNEPIN COUNTY ("4- Paul J. Brehm, Senior Vicc Prcsidcnt On this eighth day of Dcccmbcr, 2014, before me personally came Paul J. Brchm, Senior Vicc President of ATLANTIC SPECIALTY INSURANCE COMPANY, to mc personally known to be thc individual and officer described in and who executed thc preceding instrument, and he acknowledged thc execution of the same, and bcing by mc duly swom, that he is the said officer of the Company aforesaid, and that the scal affixed to the preceding instrumcnt is the scal of said Company and that thc said seal and the signature as such officer was duly affixed and subscribed to the said instrument by the authority and at the direction of the Company. TARAJANELLE STAFFORD NOTARY PUBLIC • MINNESOTA My Commission Expires '•' :- January 31, 2020 Notary Public I, the undersigned, Assistant Secretary of ATLANTIC SPECIALTY INSURANCE COMPANY, a Ncw York Corporation, do hcrcby certify that thc foregoing power of attomcy is in full forcc and has not been revoked, and the resolutions set forth above arc now in forcc. Signed and scaled. Dated 'V.I.% .day of doll This Power of Attorney expires October 1, 2017 James G. Jordan, Assistant Secretary CALIFORNIA ALL- PURPOSE CERTIFICATE OF ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies 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 Kentucky } County of Jefferson } On July 7, 2017 before me, Sandra L. Fusinetti, Notary Public (Here insert name and Idle of the officer) personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/I ef/their authorized capacity(ies), and that by his/I°ter/t eir signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. Brook T. Smith I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Notary Public Signature My commission expires 2/13/2020 e (Notary Public Seal) ADDITIONAL OPTIONAL INFORMAT ON DESCRIPTION OF THE ATTACHED DOCUMENT (Title or description of attached document) (Title or description of attached document continued) Number of Pages Document Date. CAPACITY CLAIMED BY THE SIGNER ❑ Individual (s) ❑ Corporate Officer (Title) ❑ Partner(s) ® Attorney -in -Fact ❑ Trustee(s) ❑ Other 2015 Version www.NotaryClasses.com 800-873-9865 • INSTRUCTIONS FOR COMPLETING THIS FORM This form complies with current California statutes regarding notary wording and, if needed, should be completed and attached to the document. Acknowledgments from other stales may be completed for documents being sent to that state so long as the wording does not require the California notary to violate California notary law. • State and County information must be the State and County where the document signer(s) personally appeared before the notary public for acknowledgment. • Date of notarization must be the date that the signer(s) personally appeared which must also be the same date the acknowledgment is completed. • The notary public must print his or her name as it appears within his or her commission followed by a comma and then your title (notary public). • Print the name(s) of document signer(s) who personally appear at the time of notarization. • Indicate the correct singular or plural forms by crossing off incorrect forms (i.e. he/she/they, is /are) or circling the correct forms. Failure to correctly indicate this information may lead to rejection of document recording. • The notary seal impression must be clear and photographically reproducible. Impression must not cover text or lines. If seal impression smudges, re -seal if a sufficient area permits, otherwise complete a different acknowledgment form. • Signature of the notary public must match the signature on file with the office of the county clerk. . Additional information is not required but could help to ensure this acknowledgment is not misused or attached to a different document. . Indicate title or type of attached document, number of pages and date. • Indicate the capacity claimed by the signer. If the claimed capacity is a corporate officer, indicate the title (i.e. CEO, CFO, Secretary). • Securely attach this document to the signed document with a staple. 3113Z 3 l7 33 FAITHFUL PERFORMANCE BOND (LQMC 6.16) Bond Number: 800012088 Fugitive Dust Control Bond WHEREAS, the City of La Quinta, California, is prepared to authorize VTL Pallzada LLC. a Oel ::: ire limited liability cornpan' as Principal, to proceed with certain construction activities pursuant to one, or more permits issued by the City, for various infrastructure improvements and/or structures on, or associated with, privately -owned property generally known to the City and others as TL Palizada LLC. a D=L'viare limited liability com^acv ; and WHEREAS, all such construction and demolition activities must be performed in such manner as to conform with La Quinta Municipal Code, Chapter 6.16, entitled Fugitive Dust Control to reduce fugitive dust and corresponding PM10 emissions; and WHEREAS, said Principal is required to ensure that Fugitive Dust Control Permit # 31732 _, prepared specifically for the subject construction site, is financially secure by fumishing security for the faithful performance of the dust control activities required in the Fugitive Dust Mitigation Plan. Atlantic Specialty NOW therefore, we the Principal and insurance Company , as Surety, are held and firmly bound unto the City of La Quinta, as Obligee, in the penal sum of One Hundred Twenty -One Thousand Five liun.dred and 00/104 --------- -- Dollars ($121.s00,00 ) lawful money of the United States, for the payment of which sum well and truly to 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 dust control plan 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 Obligee, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise, it shall be and 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 attorneys fees, incurred by the Obligee 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 dust control plan or to the work to be performed there under or the specifications accompanying the same shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the dust control plan or to the work, the specifications, or the conditions of approval of said plan. Page 1 of 2 T Drive/Checklists — Forms & Applications/Standard Dust Control Bond Form Fugitive Dust Control Bond Fugitive Dust Control Permit* 31732 Page 2 of 2 In witness whereof, this instrument has been duly executed by the Principal .and Surety above named, on July 7 , 2017 . (Seal) (Seal) VTL Palizada LLC a Delaware limited liability company Principal Signature of Principal Title of Signatory Atlantic Specialty Insurance Company Surety Signature of Surety Attorney -in -Fact Brook T. Smith Title of Signatory 605 Highway 169 North, Suite 800 Plymouth, MN 55441 Address of Surety (952) 852-2431 Phone # of Surety Brook T. Smith Contact Person for Surety T Drive/Checklists — Forms & Applications/Standard Dust Control Bond Form V 00 One Beacon I N S U R A N C E GROUP Power of Attorney KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth, Minnesota, docs hcreby constitute and appoint: Brook T. Smith, James T. Smith, Raymond M. Hundley, Jason D. Cromwell, James H. Martin, Deborah S. Neichter, Michele D. Lacrosse, each individually if there be more than one named, its truc and lawful Attomcy-in-Fact, to make, execute, seal and deliver, for and on its behalf as surety, any and all bonds, rccognizanccs, contracts of indemnity, and al] other writings obligatory in the nature thereof; provided that no bond or undertaking executed under this authority shall exceed in amount thc sum of: sixty million dollars (S60,000,000) and the execution of such bonds, recognizanccs, contracts of indemnity, and all other writings obligatory in thc naturc thereof in pursuance of these presents, shall be as binding upon said Company as if they had been fully signed by an authorized officer of the Company and sealed with the Company seal. This Power of Attorney is made and executed by authority of the following resolutions adopted by thc Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the President, any Senior Vice President or Vicc-President (each an "Authorized Officer") may execute for and in behalf of the Company any and all bonds, rccognizanccs, contracts of indemnity, and all other writings obligatory in the nature thereof, and affix the seal of the Company thereto; and that the Authorized Officer may appoint and authorize an Attorney -in -Fact to execute on behalf of the Company any and all such instruments and to affix thc Company scal thereto: and that thc Authorized Officer may at any timc remove any such Attomcy-in-Fact and revoke all power and authority given to any such Attomcy-in- Fact. Resolved: That the Attorney -in -Fact may be given full power and authority to execute for and in the name and on behalf of the Company any and all bonds, rccognizanccs, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attomcy-in-Fact shall be as binding upon the Company as if signed and scaled by an Authorized Officer and, further, the Attorney -in -Fact is hereby authorized to verify any affidavit required to be attached to bonds, rceognizances, contracts of indcmnity, and all other writings obligatory in the nature thereof. This power of attomcy is signed and scaled by facsimile under the authority of the following Resolution adopted by the Board of Dircctors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012: Resolved: That the signature of an Authorized Officer, thc signature of the Secretary or the Assistant Secretary, and the Company seal may be affixed by facsimile to any power of attorney or to any certificate relating thereto appointing an Attorney -in -Fact for purposes only of executing and scaling any bond, undsrtakine, recognizance or other written obligation in the naturc thereof, and any such signature and seal where so used, being hereby adopted by the Company as the original signature of such officer and the original seal of the Company, to be valid and binding upon the Company with the same force and effect as though manually affixed. IN WITNESS WHEREOF, ATLANTIC SPECIALTY INSURANCE COMPANY has caused these prcscnts to be signed by an Authorized Officer and the scal of the Company to be affixed this eighth day of December, 2014. f Pt'S Y IN gU9 • I. ; Lp[1POAat,r. o- a� SEAL m; =Y 1986 a_ By STATE OF MINNESOTA h— sey, yo0',aSt7i HENNEPIN COUNTY ""4 b t-t',o'; On this eighth day of December, 2014, before mc personally came Paul J. Brehm, Senior Vicc President of ATLANTIC SPECIALTY INSURANCE COMPANY, to me personally known to be the individual and officer described in and who executed the prcccding instrument, and he acknowledged the execution of the same, and being by me duly sworn, that he is the said officer of the Company aforesaid, and that the seal affixed to the preceding instrument is the seal of said Company and that thc said scal and the signature as such officer was duly affixed and subscribed to thc said instrument by the authority and at the direction of the Company. fikAtek4- Paul J. Brchm, Senior Vice President OP 1 TARA JANELLE STAFFORD NOTARY PUBLIC -MINNESOTA My Commission Expires January 31. 2020 It ii 1 Vis► ,J Notary Public I, the undersigned, Assistant Secretary of ATLANTIC SPECIALTY INSURANCE COMPANY, a New York Corporation, do hereby certify that the foregoing power of attorney is in full force and has not been revoked, and the resolutions set forth above are now in force. Signed and sealed. Dated 7t41 day of Jo 11 , This Power of Attomey expires P October 1, 2017 James G. Jordan, Assistant Secretary CALIFORNIA ALL- PURPOSE CERTIFICATE OF ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies 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 Kentucky } County of Jefferson } On July 7, 2017 before me, Sandra L. Fusinetti, Notary Public , (Here insert name and bile of the officer) personally appeared Brook T. Smith who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/ace subscribed to the within instrument and acknowledged to me that he/sloe/they executed the same in his/het/their authorized capacity(ies), and that by his/her/thak signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Join 1 I Notary Public Signature (Notary Public Seal) My commission expires 2/13/2020 ♦ ADDITIONAL OPTIONAL INFORMAT 4 ON INSTRUCTIONS FOR COMPLETING THIS FORM This form complies with current California statutes regarding notary wording and, DESCRIPTION OF THE ATTACHED DOCUMENT if needed, should be completed and attached to the docanmenr. AcinowledgMents from other states may be completed for documents being sent to that state so long as the wording does not require the California notary to violate California notary law. (Title or description of attached document) • State and County information must be the State and County where the document signer(s) personally appeared before the notary public for acknowledgment (Title or description of attached document continued) Number of Pages Document Date • Date of notarization must be the date that the signer(s) personally appeared which must also be the same date the acknowledgment is completed. • The notary public must print his or her name as it appears within his or her commission followed by a comma and then title (notary your public). • Print the name(s) of document signer(s) who personally appear at the time of notarization. CAPACITY CLAIMED BY THE SIGNER ❑ Individual (s) ❑ Corporate Officer • Indicate the correct singular or plural forms by crossing off incorrect forms (i.e he/she/they, is /are) or circling the correct forms. Failure to correctly indicate this information may lead to rejection of document recording • The notary seal impression must be clear and photographically reproducible, Impression must not cover text or lines. If seal impression smudges, re -seal if a (Title) n Partner(s)• Ili Attorney -in -Fact ❑ Trustee(s) El Other sufficient area permits, otherwise complete a different acknowledgment form. • Signature of the notary public must match the signature on file with the office of the county clerk. Additional information is not required but could help to ensure this acknowledgment is not misused or attached to a different document Indicate title or type of attached document, number of pages and date. Iudicate.the capacity claimed by the signer. If the claimed capacity is a corporate officer, indicate the title (i.e. CEO, CFO, Secretary). 2015 Version www.NotaryClasses.com 800-873-9865 • Securely attach this document to the signed document with a staple. OUTSTANDING BOND REPORT Name: KB Home Coastal, Inc. Tract No. 31733 Date of Contract: April 7, 2006 - AMENDED July 5, 2007 Required Bond Amounts: (See original SIAs for original bond requirements.) Off -Site: Streets $547,322 / $547,322 Sidewalk $121,204 / $121,204 Water $210,070 / $210,070 Perimeter Wall $580,860 / $580,860 Agricultural $ 50,020 / $ 50,020 Signing & Striping $ 10,000 / $ 10,000 Irrigation $ 23,445 / $ 23,445 10% Contingency $154,292 / $154,292 Prof. Fees Design $169,721 / $169,721 Prof. Fees Const. $169,721 / $169,721 On -Site: Grading $1,863,510 / $1,863,510 Streets $ 914,941 / $ 914,941 Storm Drainage $ 354,875 / $ 354,875 Sewer $ 373,805 / $ 373,805 Water $ 492,789 / $ 492,789 Utilities $ 312,500 / $ 312,500 Monumentation $ 40,000 / 10% Contingency $ 435,242 / $ 435,242 Prof. Fees Design $ 478,766 / $ 474,366 Prof. Fees Const. $ 478,766 / $ 474,366 Bond Company: Liberty Mutual / Fidelity & Deposit / Safeco Amount: Bond No. Date Cancelled/Released: $4,802,133 (P) 08844999 $5,745,194 (R) same $4,749,333 (L&M) same $5,692,394 (R) same $1,410,146 (P) 6311176 $2,036,656 (R) same $1,410,146 (L&M) same $2,036,656 (R) same Replaced w/rider 7/12/07 Replaced w/rider 7/12/07 Replaced w/rider 7/12/07 Replaced w/rider 7/12/07 1411001V To be attached to and form a part of Type of Bond: PERFORMANCE & LABOR AND MATERIAL BOND Bond No.: 6311176 executed by KB HOME Coastal Inc., a California corporation, as Principal, and by Safeco Insurance Company of America, as Surety, in favor of City of La Quinta, as Obligee, and dated March 21, 2006 In consideration of the premium charged for the attached bond, it is hereby agreed to: The bond amount changed From Performance: One Million Four Hundred Ten Thousand One Hundred Forty -Six and . No/000 Dollars ($1,410,146.00) Labor and Material: One Million Four Hundred Ten Thousand One Hundred Forty -Six and - No/000 Dollars ($1,410,146.00) To Performance: Two Million Thirty -Six Thousand Six Hundred Fifty -Six and No/100 Dollars ($2,036,656.00) Labor and Material: Two Million Thirty -Six Thousand Six Hundred Fifty -Six and No/100 Dollars ($2,036,656.00) The attached bond shall be subject to all its agreements, limitations and conditions except as herein expressly modified. This rider is effective May 15, 2007 3`-13 3 Signed and Sealed May 16, 2007 -k V.0�. Principal: KB HO E Coastal Inc., a California corporation 6 l "`7 ( -let B — -- Surety: America Maria Pena, Attomey-in-Fact Prado Del Sol Off -Site Improvements SUBDIVISION IMPROVEMENTS Tract Map No. 31733 LABOR AND MATERIAL BOND KNOW ALL MEN BY THESE PRESENTS: BOND #6311176 Premium: Included with Performance Bond THAT, the City Council of the City of La Quanta has approved the final map for Tract Map No. 31733 , prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREA§, the City Council of the City of La Quints, State of California, and KB HOME Coastal Inc . , a California corporation hereinafter designated as "the principal" have entered into an agreement whereby the principal agrees to install and complete certain designated public improvements, which agreement, dated , 200 , and identified as Tract Map No. 31733 , Is hereby referred to and made a part hereof, and WHEREAS, under the terms of the agreement, the principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of La Quinta to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. NOW, THEREFORE, the principal and the undersigned as corporate surety, are held firmly bound unto the City of La Quinta and all contractors, subcontractors, laborers, materialmen, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum of One Million Four Hundred Ten Thousand One Hundred * DOLLARS ($ 1,410,146.00 ), for materials fumished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to this work or labor, that the surety will pay the same In an amount not exceeding the amount hereinabcve set forth, and also in case suit Is brought upon this bond, will pay, In addition to the face amount thereof, costs and. reasonable expenses and fees, Including reasonable attorney' s fees, Incurred by city in successfully enforcing this obligation, to be awarded and fixed by the court, and to be taxed as costs and to be Included in the judgment therein rendered. It Is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code, so as to give aright of action to them or their assigns in any suit brought upon this bond. Should the condition of this bond be fully performed, then this obligation shall become null and vold, otherwise It shall be and remain in full force and effect. * Forty Six and NO/000 F202 - Labor and Material Bond Page 1 of 2 Prado Del Sol Off -Site Improvements SUBDIVISION IMPROVEMENTS Tract Map No. _ 31733 PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: BOND #6311176 Premium: $7,756.00 THAT, the City Council.of the City of La Quinta has approved the final map for Tract Map No. 31733 , prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREAS, the City Council of the City of La Quinta, State of California, and KB HOME Coastal Inc. , a California corporation hereinafter designated as ("principal") have entered into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, dated , 200 , and identified as Tract Map No. 31733 , Is hereby referred to and made a part hereof; and WHEREAS, said principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the principal and Safeco Insurance Company of America as surety, are held and firmly bound unto the Citv of La QuIhta hereinafter called ("City"), in the penal sum of One Million Four Hundred Ten Thousand One * DOLLARS ($ 1,410,146.00 _) lawful money of the United States, for the payment of which sum well and truly to 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 bounded 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, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City In successfully enforcing such obligation, all to be taxed as costs and Included In any judgment rendered. * Hundred Forty Six and NO/000 F201 - Performance Bond Page 1 of 2 17 t17 �I, To be attached to and form a part of Type of Bond: PERFORMANCE & LABOR AND MATERIAL BOND Bond No.: 08844999 executed by KB HOME Coastal Inc., a California corporation, as Principal, and by Fidelity and Deposit Company of Maryland, as Surety, in favor of City of La Quinta, as Obligee, and dated March 21, 2006 In consideration of the premium charged for the attached bond, it is hereby agreed to: The bond amount changed From Performance: Four Million Eight Hundred Two Thousand One Hundred Thirty Three and No/000 Dollars ($4,802,133.00) Labor and Material: Four Million Seven Hundred Forty Nine Thousand Three Hundred Thirty Three and No/000 Dollars ($4,749,333.00) To Performance: Five Million Seven Hundred Forty -Five Thousand One Hundred Ninety -Four and No/100 Dollars ($5,745,194.00) Labor and Material: Five Million Six Hundred Ninety -Two Thousand Three Hundred Ninety - Four -and No/100 dollars ($5,692,394.00) The attached bond shall be subject to all its agreements, limitations and conditions except as herein expressly modified. This rider is effective May 15, 2007 Signed and Sealed May 16, 2007 Principal: KB HOME Coastal Inc., a California corporation By Surety: d1S eTi—ty'anDeposit Company of Maryland Maria Pena, Attomey-in-Fact Prado Del Sol -On-Site Improvements SUBDIVISION IMPROVEMENTS Tract Map No. 31733 LABOR AND MATERIAL BOND KNOW ALL MEN BY THESE PRESENTS: BOND #08844999 Premium: Included with Performance Bond THAT, the City Council of the City of La Quinta has approved the final map for Tract Map No. 31733 , prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREAS, the City Council of the City of La Quinta, State of California, and KB HOME Coastal Inc., a California corporation hereinafter designated as "the principal" have entered into an agreement whereby the principal agrees to install and complete certain designated public improvements, which agreement, dated 200_, and identified as Tract Map No. 31733 , is hereby referred to and made a part hereof; and WHEREAS, under the terms of the agreement, the principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of La Quinta to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. NOW, THEREFORE, the principal and the undersigned as corporate surety, are held firmly bound unto the City of La Quinta and all contractors, subcontractors, laborers, materialmen, and other persons employed in the performance of the agreement and referred to in Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code in the sum of Fax M llirn Seven Hundred Forty Nine Thousand Three * DOLLARS ($ 4 , 749 ,'i , for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to this work or labor, that the surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney' s fees, incurred by city in successfully enforcing this obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered. It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond. Should the condition of this bond be fully performed, then this obligation shall become null and void, otherwise it shall be and remain in full force and effect. * Hundred Thirty Three and PA/000 F202 - Labor and Material Bond Page 1 of 2 Prado Del Sol On -Site Improvements SUBDIVISION IMPROVEMENTS Tract Map No. 31733 PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: BOND #08844999 Premium: $48,021.00 THAT, the City Council.of the City of La Quinta has approved the final map for Tract Map No. 31733 , prior to installation of certain designated public improvements required by the Conditions of Approval for the subject map, in accordance with the California Map Act (Government Code Section 66462) WHEREAS, the City Council of the City of La Quinta, State of California, and KB HOME Coastal Inc. , a California corporation hereinafter designated as ("principal") have entered into an agreement whereby principal agrees to install and complete certain designated public improvements, which said agreement, dated _, 200_ , and identified as Tract Map No. 31733 , is hereby referred to and made a part hereof; and WHEREAS, said principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the principal and Fidelity and Deposit Company of Maryland as surety, are held and firmly bound unto the City of La Quinta hereinafter called ("City"), in the penal sum of Four Million l i on Ei4it Hundred Two Thou�d One # DOLLARS ($4 , 802 9133.00 ) lawful money of the United States, for the payment of which sum well and truly to 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 bounded 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, its officers, agents and employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered. * Rmdred Thirty Three and ND/00D F201 - Performance Bond Page 1 of 2