19-0225_TOLL WEST COAST LLC_Grading Surety Agreement GRADING SURETY AGREEMENT
THIS AGREEMENT is made by and between the CITY OF SAN JUAN CAPISTRANO,
a municipal corporation, hereinafter referred to as the "City," and Toll West Coast L.L.C.,
hereinafter referred to as "Developer."
WITNESSETH
WHEREAS, City will issue Precise Grading Permit No B16-1426 (Production) &
B16-0777 (Models) to Developer to construct certain designated improvements upon a
portion of that real property located at Tract 15609 Lots 1-23 of Tract 15609, San Juan
Capistrano, CA, such work being commonly referred to as The Tradewinds ("Project").
WHEREAS, San Juan Capistrano Municipal Code Section 8-2.08 requires the
posting of financial security to secure the faithful performance for the grading and
installation of related improvements connected with issuance of grading permits including
the construction of drainage and protection devices and any other corrective work to
remove and eliminate engineering and geological hazards.
WHEREAS, San Juan Capistrano Municipal Code Section 8-2.09 authorizes the
Building Official to require additional bonding as security to ensure against adverse
aesthetic impacts arising from incomplete grading and/or improvements from development
projects which have not been completed.
WHEREAS, the Building Official finds that the proposed Project site is highly
prominent and visible to the community, has unique topographic features or involves
substantial grading of slope areas.
NOW, THEREFORE, in consideration of the premises and promises hereinafter
contained, City and Developer agree as follows:
1 . Developer's Improvements Obligations. Developer shall, at its sole cost and
expense, provide and furnish all labor, materials and equipment for the Project depicted on
the plans entitled "PRODUCTION PRECISE GRADING FOR TRADEWINDS — TRACT
15609 — LOTS 1-21 & 23" and MODEL PRECISE GRADING TRACT 15609 LOT 22" as
reviewed and signed by the City Engineer on
fe,iar ar a5 - 2019.
The grading permit and plans, which describe all the work to be constructed pursuant to
this Agreement, are on file in the office of the City's Building Official.
Grading Surety Agreement, Permit#'s B16-1426& B16-0777 Page 1
61147.02100\24835741.2 ORIGINAL
2. Developer's Security. Developer shall provide a cash deposit, irrevocable
letter of credit, certificate of deposit or a bond by a duly authorized corporate surety subject
to the approval of the City Attorney, or as approved by the City Engineer, to secure
Developer's improvement obligations required under this Agreement ("Security").
The amount of the Security shall be $500,420 for all onsite grading, storm drain and
street improvements as approved by the City Engineer and attached as Exhibit "D". This
Security shall also serve as security for restoration of the Project site. A copy of the
performance bond form, as approved by the City Attorney, is attached hereto as Exhibit"C"
and incorporated herein by this reference. Copies of approved irrevocable letter of credit
forms and certificate of deposit form are available upon request.
3. Completion of Improvements. To ensure the protection of the public safety,
health and welfare, Developer shall construct the Project in accordance with the schedule
as set forth in Exhibit"A", and the conditions as set forth in Exhibit "B". Exhibits "A" and "B"
are attached hereto and incorporated herein by this reference.
4. Developer Default. In the event Developer does not complete the required
improvements, including erosion and silt control measures within the time required, using
Best Management Practices (BMP) in implementing a Water Quality Management Plan in
full compliance with Orange County National Pollutant Discharge Elimination System
(NPDES) Storm Water Implementation Agreement and San Juan Capistrano Municipal
Code Section 8-14, or abandons the Project site, or suspends work for more than twenty
(20) working days without written approval of the City, City shall have the right to
immediately declare a default and to make demand on Developer's surety for performance
of all obligations under this Agreement.
5. Restoration of Site. San Juan Capistrano Municipal Code Section 8-2.09
allows the City to require bonding as security to ensure against adverse aesthetic impacts
arising from incomplete grading, drainage and/or improvements which includes illicit non-
storm drain water discharge. The purpose of this security shall be to restore the property to
a safe and acceptable condition in the event the Developer defaults. This restoration shall
include but not be limited to the following:
A. Dismantle and/or demolish improvements;
B. Grade property to its original contours as shown on the approved
grading plans or to contours as directed by the City Engineer.
Grading Surety Agreement, Permit#'s B16-1426& B16-0777 Page 2
61147.02100\24835741.2
C. Remove all debris and construction materials from the site; and
D. Install erosion and silt control devices, including hydroseeding, to
insure a uniform vegetative cover, or equivalent stabilization
measures which include the use of such Best Management Practices
as blankets, fiber matrices, catch basin filters, or other erosion
resistant soil coverings or treatments to satisfaction of the Director of
Engineering and Building.
6. Attorney's Fees. Developer agrees to pay City such sum as the court may
judge as reasonable for the legal services of an attorney representing the City in an action
brought to enforce or interpret the obligations of this agreement, and such sum shall be
made a part of any judgment in such action against Developer if such action is determined
in favor of the City.
7. Developer's Work in Safe Condition. Developer shall perform all work in a
safe workmanlike manner and shall take such precautions as may be necessary to warn
and protect the public from any dangerous condition caused by the Project.
8. Liability. City, its officials, officers, employees, agents, and volunteers shall
not be liable for any injury to persons or property occasioned by reason of the acts or
omissions of Developer, its agents or employees in the performance of this Agreement.
Developer further agrees to protect, indemnify, and hold harmless City, its officials, officers,
employees, agents, and volunteers from any and all claims, demands, causes of action,
liability or loss of any sort, because of, or arising out of, the alleged acts or omissions of
Developer, its agents or employees in the performance of this Agreement, including all
claims, demands, causes of action, liability, or loss because of, or arising out of, in whole or
in part, the design or construction of the Project. This indemnification and agreement to
hold harmless shall extend to injuries to persons and damages or taking of property
resulting from the design or construction of said Project, and in addition, to adjacent
property owners as a consequence of the diversion of waters from the design or
construction of drainage systems, streets and other improvements.
SIGNATURES ON FOLLOWING PAGE
Grading Surety Agreement, Permit#'s B16-1426& B16-0777 Page 3
61147.02100\24835741.2
SIGNATURE PAGE TO GRADING SURETY AGREEMENT
BETWEEN
THE CITY OF SAN JUAN CAPISTRANO AND
Toll West Coast L.L.C., Developer
IN WITNESS WHEREOF, the parties have executed this Agreement as of
, 2019
CITY F S,pfN J AN CAPISTRANO
By: / B
_ Y:
Carlos ad., Building Official Developer
Dated: G / .7P14 P--en*+tS
Printed Name e1-4,1.L�7 I ZE
Approved as to Form:
By: Title ,CS i ,//,$/an- Ae-esV "-7'
Jeff Ballinger, City Attorney
By:
Printed Name ,�4.-----/ ��L/
Title
Grading Surety Agreement, Permit#'s1316-1426& B16-0777 Page 4
61147.02100\24835741.2
SIGNATURE PAGE TO GRADING SURETY AGREEMENT
BETWEEN
THE CITY OF SAN JUAN CAPISTRANO AND
Toll West Coast L.L.C., Developer
IN WITNESS WHEREOF, the parties have executed this Agreement as of
, 2019
CITY *F JU i CAPISTRANO
By: �� d' — By:
Car os Y= :o :uilding Official Developer
Dated:
Printed Name e4-4v)L49 94.t
Approved as to Form:
By: Title d Mf'd'-7
v Jeff Ballinger, City Attorney
By: ,�-� j
Printed Name �/�+'�/�— 0""��/
Title
Grading Surety Agreement, Permit#'s B16-1426& B16-0777 Page 4
61147 02100\24835741.2
EXHIBIT "A"
SCHEDULE FOR COMPLETION OF IMPROVEMENTS
Task Completion Date
1 . Complete precise grading Iasi/a°
2. Start installation of onsite Storm drain work 1/1 //7
3. Start & Finish Erosion Control work I/1 I1 $ - 191.31/20
4. Street Improvements I14/3t/18
5. Storm Drain Improvements IaW31/i
Grading Surety Agreement, Permit#'s B16-1426& B16-0777 Page 5
61147.02100\24835741.2
EXHIBIT "B"
CONDITIONS FOR COMPLETION OF IMPROVEMENTS
1 . The grading for this project shall be in strict conformance with the grading plans as
well as the San Juan Capistrano Municipal Code.
2. Grading operations shall commence within fourteen (14) calendar days after
issuance of Grading Permit.
Winter grading will be conducted in strict accordance with the dynamic erosion and
silt control plan submitted by the Developer, and approved by the City. This erosion
and silt control plan reflects erosion and silt mitigation measures for expected
grading conditions as the work progresses through the winter season and shall not
be amended except with the permission of the City.
In the event Developer does not wish to implement winter grading, or permission for
winter grading is rescinded, static erosion and silt control plans reflecting current
conditions of grading shall be submitted within ten (10) days of cessation of work.
These plans shall:
1 . Identify all pollutant sources including sources of sediment that may affect
the quality of storm water discharges associated with the construction
activity.
2. Include the erosion and sediment control planting and hydroseeding to
insure a uniform vegetative cover or equivalent stabilization measures which
include the use of such Best Management Practices as blankets, fiber
matrices, catch basin filters or other erosion resistant soil covering or
treatments to the satisfaction of the City Engineer.
3. Suspension in excess of twenty (20) working days of work authorized by approved
grading plans and grading permit for subject property, including erosion and
sediment control measures and landscaping and irrigation, shall constitute default of
this agreement.
4. The supervising civil engineer and soils engineer shall file biweekly progress reports
of all grading operations with the Building Official. An interim compaction report, for
that work completed at the time work is suspended for the rainy season, shall be
filed with the Building Official. This interim report shall conform to the grading code
requirements for final compaction reports.
Grading Surety Agreement, Permit#'s B16-1426& B16-0777 Page 6
61147.02100\24835741.2
5. Contractor shall control dust to the satisfaction of the Building Official or his deputy.
During grading, Contractor shall keep water truck on site and dampen work area,
grounds, and loaded trucks.
6. Grading operations suspended during the rainy season shall be resumed no later
than 15 days from date of suspension termination.
7. Installation of interim erosion and sediment control devices and systems shall
commence within seven (7) days after rough grade certification has been approved
by the Building Official and must be completed within fifteen (15) days of rough grad
certification. Final erosion and sediment controls devices, planting, landscaping and
irrigation systems shall be installed prior to final inspection of the grading permit.
8. All work shall be performed in strict observation of the Hours of Operation in
accordance with San Juan Capistrano Municipal Code Section 8-1 .03.
9. Contractor shall adhere to conditions of haul route permit and encroachment permit
issued by the City Engineer.
10. Parking for construction crew is to be on-site.
11 . Exoneration of Security: Developer's security shall be reduced to 90% upon signoff
of precise grading permit. No security given by Developer shall be released until the
expiration of the warranty period and until any claims filed during the warranty
period have been settled. Nothing herein shall limit the City's rights or the
Developer or surety's obligations under this Agreement.
12. Warranty Period: 1 year from permit signoff by City.
Grading Surety Agreement, Permit#'s B16-1426& B16-0777 Page 7
61147.02100\24835741.2
• . • PROJECT OR TRACT NUMBER OWNER/SUBDIVIDER
Tradewinds-TR 15809-Lots 1 thru 21 and 23 Toll Brothers
ENGINEER CALCULATED BY
ADAMS-STREETER CIVIL ENGINEERS,INC. BUD
(DATE 1/9/2018 1 JOB No.: 17-2192.01
PRELIMINARY CONSTRUCTION COST ESTIMATE
No. DESCRIPTION UNIT PRICE TOTAL
PRODUCTION PRECISE GRADING
1 INSTALL 12"SQUARE NDS 1212 AREA DRAIN INLET WITH ADAPTER&OUTLET 146 EA @ $ 100.00 $ 14,600
2 INSTALL 4"ATRIUM GRATE NDS 75 54 EA @ $ 5000 $ 2,700
4 INSTALL 4"PVC SCH 40 PIPE
7.471 LF @ $ 12.00 S 89.652
5 INSTALL B"PVC SCH 40 PIPE
422 LF @ $ 20.00 $ 8.440
6 CONSTRUCT CONCRETE HARDSCAPE PER SOILS ENGINEERS RECOMMENDATIONS 14,300 SF @ $ 5.00 $ 71,500
8 CONSTRUCT DRIVEWAY APPROACH
3,820 SF @ $ 10.00 $ 38.200
9 CORE DRILL CATCH BASIN AND AND INSTALL 4"AREA DRAIN PIPE 9 EA @ $ 300.00 $ 2,700
I
10 CURB CORE WITH 3"PIPE OUTLET 33 EA @ $ 20000 $ 6.600
11 CONNECT ROOF GUTTER DOWNSPOUT TO YARD DRAIN 290 EA @ $ 40.00 $ 11,600
12 CONSTRUCT CONCRETE DRIVEWAY PER SOILS ENGINEER'S RECOMMENDATIONS 23,630 SF @ $ 7.00 $ 165,410
13 PROVIDE WALL OPENING FOR SECONDARY DRAINAGE 23 EA @ $ 25.00 $ 575
14 INSTALL 12"SQUARE BROOKS BOX 1212 CB 5 EA @ S 500.00 $ 2,500
15 INSTALL 18"SQUARE BROOKS BOX 1818 CB
4 EA @ $ 700.00 $ 2.800
16 CONSTRUCT STORM DRAIN CLEANOUT 1 EA @ $ 500.00 $ 500
17 REMOVE AND REINSTALL WATER METER 1 EA @ $ 1.000.00 $ 1.000
18 CONSTRUCT PIPE CONNECTION TO STORM DRAIN 1 EA @._ $ 500.00 $ 500
19 CONSTRUCT CONCRETE MOW CURB 264 LF @ S 10.00 $ 2,640
20 CONSTRUCT 6"CURB&GUTTER PER CITY STD 301
75, LF d $ 20.00 $ 1,500
21 SAWCUT&REMOVE 1'WIDE STRIP OF AC/AB PAVEMENT.REPLACE WITH FULL DEPTH AC. 147 LF @ $ 10.00 $ 1,470
- EARTHWORK SPOILS FROM FOUNDATIONS,SIDEWALKS,SWALES,AND SIDEYARD GRADING 22 LOTS $ 500.00 5 11.000
EROSION CONTROL
30 DRAIN INLET GRAVEL BAG PROTECTION 200 EA @ $ 4.00 $ 800
31 SINGLE ROW OF GRAVEL BAGS
8.000 LF @ $ 2.00 $ 16.000
33 CATCH BASIN PROTECTION 10 EA @ $ 100.00 $ 1.000
34 STREET SWEEPING
1 LS @ $ 1.000.00 $ 1,000
37 GRAVEL BAG VELOCITY REDUCER
60 LF @ S 4.00 S 240
SUB-TOTAL IMPROVEMENTS $ 454,927
c OFESS/�, 10%CONTINGENCY $ 45.493
P Uii, - ' K� <,' ,�`,.. *°0H' 9`�ti TOTAL IMPROVEMENTS $ 500,420
1 41!),,
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ren
No. 42615 �,
4 ' * EXP. 3-31-20 / '-''
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PAGE 1 OF 1
EXHIBIT "C" BOND NO. 30062731
INITIAL PREMIUM: $2752.00
SUBJECT TO RENEWAL
GRADING SURETY AGREEMENT
PERFORMANCE BOND
KNOW ALL PERSONS BY THESE PRESENTS:
WHEREAS, the City of San Juan Capistrano, California ("City") and Toll West Coast
LLC ("Principal"), have executed an agreement for work consisting of, but not limited to, the
furnishing all labor, materials, tools, equipment, services, and incidentals for all grading and
installation of related improvements for Lots 1-23 Tract 15609 B16-1426 (Production) and B16-
0777 (Models) ("the Work");
WHEREAS, the Work to be performed by Principal is more particularly set forth in that
certain Grading Surety Agreement dated f�e��a� a8 , 2011, ("Agreement"), which
Agreement is incorporated herein by this reference; and;
WHEREAS, the Improvement Agreement is hereby referred to and incorporated herein
by reference; and
WHEREAS, Principal is required by the Agreement to provide a good and sufficient bond
for performance of the Agreement, and to guarantee and warranty the Work performed
thereunder.
NOW, THEREFORE, Principal and Western Surety Company ("Surety"), a corporation
organized and existing under the laws of the State of South Dakota, and duly authorized to
transact business under the laws of the State of California, are held and firmly bound unto City
in the sum of Five Hundred Thousand Four Hundred Twenty and 00/100 Dollars ($500,420.00),
for which amount well and truly to be made, we bind ourselves, our heirs, executors and
administrators, successors and assigns, jointly and severally, firmly by these presents.
THE CONDITION OF THIS OBLIGATION is such, that if 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, agreements, guarantees, and
warranties in the Agreement and any alteration thereof made as therein provided, to be kept
and performed at the time and in the manner therein specified and in all respects according to
their intent and meaning, and shall indemnify and save harmless City, its officers, employees,
and agents, as stipulated in the Agreement, then this obligation shall become null and void;
otherwise it shall be and remain in full force and effect.
As 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.
Grading Surety Agreement, Permit#'s B16-1426 & B16-0777
61147.02100\24835741.2
Surety, for value received, hereby stipulates and agrees that no change, extension of
time, alteration, or addition to the terms of the Agreement, or to any plans, profiles, and
specifications related thereto, or to the Work to be performed thereunder, shall in any way affect
its obligations on this bond, and it does hereby waive notice of any such change, extension of
time, alteration, or addition.
IN WITNESS WHEREOF, the seal, if any, and signature of the Principal is hereto
affixed, and the corporate seal and the name of the Surety is hereto affixed and attested by its
duly authorized Attorney-in-Fact at Paoli, PA this 28 TH day of FEBRUARY, 2019.
Toll West Coast LLC, Western Surety Company
a Delaw9re limited liability company
Princip Surety
By. / 4- /74k//U� By
aniel orney-in-Fact
Grading Surety Agreement, Permit#'s B 16-1426 & B 16-0777
61147.02100\24835741.2
•
CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT Civil Code § 1189
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 truthfullness, accuracy or validity of that document.
♦.•••••••••••••••••••••••••••••••••.•••.••••••+•••••••••••••••••••♦
State of PENNSYLVANIA
County of CHESTER
On FEBRUARY 28,2019 before me, ARLENE OSTROFF , Notary Public
Date Name and Title of Notary
personally appeared DANIEL P.DUNIGAN
Name and or Names of Signer(s)
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/their authorized
capacity(ies), and that by his/her/their signature(s)on the COMMONWEALTH OP PENNSYLVANIA
instrument the person(s), or the entity upon behalf of
NOTARIAL SEAL
which the person(s) acted, executed the instrument. ARLENE OSTROFF, Notary Public •
Witlistown Township,Chester County
I certify under PENALTY OF PERJURY under the laws of My Commission Expires December 3,2020
the State of California that the foregoing paragraph is true
and correct.
Witness my h nd official se
Signature
ene stroll N ry Public Sig. re Notary Kegistratlon Number 1124021 Place Notary Public Seal Above
OPTIONAL
Though the information below is not required by law,it may prove valuable to the persons relying on the document and could prevent fraudulent removal
and reattachment of this form to another document.
Description of Attached Document
Title or Type of Document
Document Date Number of Pages:
Signer's Name:
❑ Individual 0 Individual
❑ Corporate Officer—Title(s): 0 Corporate Officer—Title(s):
❑ Partner- 0 Limited 0 General RIGHTTHUMBPRINT 0 Partner- 0 Limited 0 General RIGHTTHUMePRINT
❑ Guardian or Conservator OF SIGNER 0 Guardian or Conservator oFSICNER
Top of thumb Top of thumb
0 Attorney-in-Fact 0 Attorney-in-Fact
❑ Trustee 0 Trustee
❑ Other. 0 Other
Signer is representing Signer is representing
Western Surety Company
• • Western Surety Company.•
POWER OF ATTORNEY APPOINTING INDIVIDUAL ATTORNEY-IN-FACT
Know All Men By These Presents,That WESTERN SURETY COMPANY,a South Dakota corporation,is a duly organized and existing corporation
having its principal office in the City of Sioux Falls,and State of South Dakota,and that it does by virtue of the signature and seal herein affixed hereby
make,constitute and appoint
William F Simkiss, Richard J Decker, Daniel P Dunigan, Joseph W Kolok Jr, Brian C Block,
James L Hahn,Individually
of Paoli,PA,its true and lawful Attorney(s)-in-Fact with full power and authority hereby conferred to sign, seal and execute for and on its behalf bonds,
undertakings and other obligatory instruments of similar nature
- In Unlimited Amounts -
and to bind it thereby as fully and to the same extent as if such instruments were signed by a duly authorized officer of the corporation and all the acts of said
Attorney,pursuant to the authority hereby given,are hereby ratified and confirmed.
This Power of Attorney is made and executed pursuant to and by authority of the By-Law printed on the reverse hereof,duly adopted,as indicated,by
the shareholders of the corporation.
In Witness Whereof, WESTERN SURETY COMPANY has caused these presents to be signed by its Vice President and its corporate seal to be
hereto affixed on this 12th day of February,2018.
°SURETj•""„ WESTERN SURETY COMPANY
r�'.•4ORPDgglP`i n
`W€
z
4• 4.0
E A •;
................ aul T.Bruflat,Vice President
State of South Dakota
JT ss
County of Minnehaha
On this 12th day of February,2018,before me personally came Paul T.Bruflat,to me known,who,being by me duly sworn,did depose and say: that
he resides in the City of Sioux Falls,State of South Dakota;that he is the Vice President of WESTERN SURETY COMPANY described in and which
executed the above instrument;that he knows the seal of said corporation;that the seal affixed to the said instrument is such corporate seal;that it was so
affixed pursuant to authority given by the Board of Directors of said corporation and that he signed his name thereto pursuant to like authority, and
acknowledges same to be the act and deed of said corporation.
My commission expires
J.MOHR
NDTARYPUBLIC
727-76_,Itz
June 23,2021 SEAL SOUTHDAKOTA�� /
J.Mohr,Notary Public
CERTIFICATE
I,L. Nelson,Assistant Secretary of WESTERN SURETY COMPANY do hereby certify that the Power of Attorney hereinabove set forth is still in
force,and further certify that the By-Law of the corporation printed on the reverse hereof is still in force. In testimony whereof I have hereunto subscribed
my name and affixed the seal of the said corporation this 28TH day of FEBRUARY 019
s„RErr"'' . WESTERN SURETY COMPANY
0.0#4,1.s.
T%I D-4µ
L.Nelson,Assistant Secretary
Form F4280-7-2012
Go to www.cnasuretv.com>Owner/Obligee Services >Validate Bond Coverage, if you want to verify bond authenticity.
Authorizing By-Law
ADOPTED BY THE SHAREHOLDERS OF WESTERN SURETY COMPANY
This Power of Attorney is made and executed pursuant to and by authority of the following By-Law duly adopted by the shareholders
of the Company.
Section 7. All bonds, policies, undertakings, Powers of Attorney, or other obligations of the corporation shall be executed in the
corporate name of the Company by the President, Secretary, and Assistant Secretary, Treasurer, or any Vice President, or by such other
officers as the Board of Directors may authorize. The President, any Vice President, Secretary,any Assistant Secretary, or the Treasurer
may appoint Attorneys in Fact or agents who shall have authority to issue bonds,policies,or undertakings in the name of the Company.
The corporate seal is not necessary for the validity of any bonds, policies, undertakings, Powers of Attorney or other obligations of the
corporation. The signature of any such officer and the corporate seal may be printed by facsimile.
•• , •,
, •
WESTERN SURETY COMPANY
Sioux Falls, South Dakota
Statement of Net Admitted Assets and Liabilities
December 31,2017
ASSETS
Bonds $ 1,895,156,151
Stocks 28,408,086
Cash, cash equivalents,and short-term investments 24,679,133
Receivables for securities 7,500,016
Investment income due and accrued 22,426,771
Premiums and considerations 37,932,713
Amounts recoverable from reinsurers 1,562,035
Current federal and foreign income taxes recoverable from CNA
Financial Corporation 3,481,084
Net deferred tax asset 10,688,834
Receivable from parent, subsidiaries, and affiliates 11,647,470
Other assets 10,215
Total Assets $ 2,043,492,508
LIABILITIES AND SURPLUS
Losses $ 201,046,845
Loss adjustment expense 57,918,199
Commissions payable,contingent commissions and other similar
charges 10,047,343
Other expenses (excluding taxes, license and fees) 943,877
Taxes,License and fees (excluding federal and foreign income
taxes) 3,447,669
Unearned premiums 223,752,269
Advance premiums 5,436,181
Ceded reinsurance premiums payable 1,720,726
Amounts withheld or retained by company for account of others 7,338,456
Provision for reinsurance 239,534
Payable to parent, subsidiaries and affiliates 12,934
Payable on security transations 4,000,000
Other liabilities 367,837
Total Liabilities $ 516,271,870
Surplus Account:
Common stock $ 4,000,000
Gross paid in and contributed surplus 280,071,837
Unassigned funds 1,243,148,801
Surplus as regards policyholders $ 1,527,220.637
Total Liabilities and Capital $ 2,043,492,508
I, Troy Wray Assistant Vice President of Western Surety Company hereby certify that the above is an
accuptVfipfesentation of the financial statement of the Company dated December 31, 2017, as filed
wi ` tle'vanous.Insiurance Departments and is a true and correct statement of the condition of Western
Sur`-r..t So par as-0 that date.
-c_ Western Surety Company
= 401
By Assistant Vice Pr '•ent
Subscribed and sworn to me this 8th day of March ,2018.
My commission expires: . _ YOLANDA JIMENEZ
OFFICIAL SEAL • dr•
''NotaryPuMlaSteteo?Illircisfrolatn
My Commission Expires Not. ' •lic
Se temtef24 2021