23-0428_PACIFIC POINT DEVELOPMENT PARTNERS, LLC_SU1143665 (Reduced)DECREASE PENALTY RIDER
BOND AMOUNT $260,722.00 BOND NO. SU1143665
To be attached and form a part of Bond No. SU1143665 dated the 3rd Day of
February, 2017, executed by Arch Insurance Company as surety, on behalf of Pacific
Point Development Partners, LLC as current principal of record, and in favor of City
of San Juan Capistrano, as Obligee for Pacifica San Juan, The Cove - Splashes -
16747 Lot 2 - Performance Bond , and in the amount of Two Hundred Sixty
Thousand Seven Hundred Twenty Two Dollars and 00/100 ($260,722.00).
In consideration of the agreed premium charged for this bond, it is understood and
agreed that Arch Insurance Company hereby consents that effective from the
23rd Day of lune 2022, said bond shall be amended as follows:
THE BOND PENALTY SHALL BE DECREASED:
FROM: Two Hundred Sixty Thousand Seven Hundred Twenty Two Dollars and 00/100
($260,722.00)
TO: Twenty Six Thousand Seventy Two Dollars and 20/100 ($26,072.20)
The DECREASE of said bond penalty shall be effective as of the 23rd Day of June,
2022, and does hereby agree that the continuity of protection under said bond
subject to changes in penalty shall not be impaired hereby, provided that the
aggregate liability of the above mentioned bond shall not exceed the amount of
liability assumed by it at the time the act and/or acts of default were committed
and in no event shall such liability be cumulative.
Signed, sealed and dated this 27th Day of April, 2023
BY
ffItlOG1R �j
{tl IW i
ITI
�laa� BY
BY
Pacific Poievelop ent Partners, LLC
r PRINCIPAL
Stewart, ATTORNEY-IN-FACT
THE ABOVE BOND IS HEREBY AGREED TO AND ACCEPTED BY:
City of San Juan Capistrano
OBLIGEE
TITLE
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 California
County of Orange )
On April 28, 2023 before me, Charnette Neal, Notary Public
(insert name and title of the officer)
personally appeared Sean Doyle
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 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.
Signature
,.r`°" CHARNETTENEAL
w a COMM. # 2416701
i NOTARY PUBL"ALIFORNIA N
r ORANGE COUNTY N
`kR °" MY COMM.EXRSEPT1l,t0P6
(Seal)
NOTARY ACKNOWLEDGMENT OF SURETY:
State of Connecticut
County of Hartford ss.
On this the 27th day of April , 20 23 , before me, Robyn L. Salley, the
undersigned officer, personally appeared Gentry Stewart , known to me
(or satisfactorily proven) to be the person whose name is subscribed as Attorney -In -Fact
for Arch Insurance Company , and acknowledged that
s/he executed the same as the act of his/her principal for the purposes therein contained.
In witness whereof I hereunto set my hand.
Signature of Notary Public
Date Commission Expires: February 28, 2027
Robyn L. Salley
Printed Name of Notary
ROBYN L. SALLEY
NOTARY PURZJ . CT 185794
my Commission Egrlres Feb, 28, 2027
AIC 0000381703
This Power of Attorney limit the act' of those named herein, and they have no authority to bind the Company except in the monner and to the extent herein stared.
vol valid for ,Vote. Loan. Letter of Credit. Currency Rate. Interest Rate or Residential 1 aloe Guarantees
POWER OF ATTORNEY
Know All Persons By These Presents:
That the Arch Insurance Company. a corporation organized and existing under the laws of the State of Missouri, having its principal administrative office in Jersey City,
New Jersey (hereinafter reftrred to as the "Company") does hereby appoint:
Aimee R. Perondine, Alexis Apostolidis, Amanda Pierins D'.Angelo, Bethany Stevenson, Brendan Fletcher, Bryan M. Caneschi, Cassandra Baez, Donna M.
Planets, Eric Strba. Gentry Stewart, Jacqueline Rose Sown. Jennifer Gail Godere, Joshua Sanford, Kathryn Pryor. Kristopher Pisano. Melissa J. Stanton,
Michelle .Anne McMahon, Nicholas Turecamo and Rebecca M Josephson or Hartford CT (F..ACHI
its nue and lawful Aturim"(slin-Farr, to make, execute, seal, and deliver from the date of issuance of this power for and on its behalf as wroy, and as its ail and deed:
Any and all bonds, undertakings, recognizances and other surety obligations, in the penal wen not exceeding Ninety Million Dollars ($90.0(10.000.00).
This authority does not permit the more obligation to be split into two or mom bonds In order to bring each such bond within the dollar limit of authority as set forth
herein.
The execution of such bonds, undertakings, recugnimnces and other surety obligations in pursuance of these presents shall be as binding upon the said Company m
fully and amply to all intents and purposes, as if the same had been duly executed and acknowledged by its regularly elected officers at its principal administrative
office in Josey City, New Jersey.
This Power of Attorney is executed by authority of resolutions adopted by unanimous consent of the Board of Directors of the Company on December 10. 2020. true
and accurate copies of which are hereinafter set forth and arc hereby certified to by the undersigned Secretary as being in full force and effect:
"VOTED. That the Chairman of the Board, the Resident. or the Executive Vice President, or any Senior Vice President. of the Surety Business Division, or their
appointees designated in writing and filed with the Secretary. or the Secretary shall have the power and authority to appoint agents and anommis-in-fact, and to
authorize them subject to the limitations set forth in their respective powers of anomey, to execute on behalf of the Company, and attach the seal of the Company
thereto. bonds, undertakings, rmognizances and other surety obligations obligatory in the nature thereof, and any such officers of the Company may appoint agents for
.""mance of process."
This Power of Attorney is signed, sealed and certified by facsimile under and by authority of the following resolution adopted by the unanimous consent of the Board of
Directors of the Company on December 10. 2020:
VOTED, That the signature of the Chairman of the Board, the Resident, or the Executive Vice Resident, ce any Senior Vice Resident, of the Sully Business
Division, or their appointees designated in writing and filed with the Secretary,
and the signature of the Smeary. the seal of the Company, and certifications by the
Secretary, may be affixed by facsimile on any power of anomey or bond executed pursuant to the resolution adopted by the Board of Directors on December 10. 2020,
and any such power so executed. sealed and certified with respect to any bond or undertaking to which it is attached, shall continue to be valid and binding upon the
Company. In Tradition v Whereof. the Company has caused this instrument to be signed and its corporate seal to be affixed by their authorized officers, this 15's day
of Sersm.be .2022. /
Attes%%te""d and Certifedd.� `OA Arch Insurances (o�mfpaany
f�vy7� A .�1X.,— - euar.rmwrr 99 we'_`^"i �
ran
Regan .Shulman. Secretary Stephen C. Ruschak, Executive Vice Resident
STATE OF PENNSYLVANIA SS
COUNTY OF PHILADELPHIA SS I(Sf Wf�
I. Michelle Tripodi, a Notary Public, do hereby certify that Regan A. Shulman and Saphen C. Ruschak personally known to me to be the same persons whose names
are respectively as Secretary and Executive Vice President of the Arch Insurance Company, a Corporation organized and existing under the laws of the State of
Missouri, subscribed to the foregoing instrument, appeared before me this day in pawn and severally acknowledged that they being thereunto duly authorized signed.
sealed with the corporate seal and delivered the said instrument as the free and voluntary act of said corporation and as their own free and voluntary act's for the uses and
purposes therein set forth.
lpl.ftd
1101110" Michile Npodi, vN.�ola
rPublic
CERTIFICATION 7aymmi"
My commission expues 07 312025
I. Regan A. Shulman. Secretary of the Arch insurance Company. do hereby certify that the attached Power of Attorney dated September 15, 2022 on behalf of the
persons s) as listed above is awe and correct copy and that the more has been in full force and effect since the date thereof and is in full force and effect on the date of
this certificate; and I do further certify that the said Stephen C. Ruwhak, who executed the Power of Attorney as Executive Vice Resident, was on the date of execution
of the attached Power of Attorney the duly elected Executive Vice President of the Arch Insumncc Company. moi. f, ,,
INTKSTIMONY WHEREOF. I have hereunto subscribed my mama and affixed the corporate seal of the Arch Insurance Company on this2 r day ofRYy1 L
20-5 .
ReJA A. Shulman, Secretary
This Power of Attorney limits the acts ofthose named therein to the bonds and undertakings specifically named therein and they have no authority to bind the Company
except in the manner and to the extent herein stated. watt^
PLEASE SEND ALL CLAIM INQUIRIES RELATING TO THIS BOND TO THE FOLLOWING ADDRESS: � ^'• �O
Arch Insurance – Surety' Division
3 Parkway, Suite 1500 uwx>tuvn
Philadelphia. PA 19102 O SMA
Ian
�Issw1E
ro verify the authenticity of this Power ofAttarney, please contact Arch Insurance Company at SuretyAuthentic am ins
Please refer to the above named Attorney -in -Fact and the detnlls of the bond to which the power is attached.
AICPOA040120 Printed in U.S.A.