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15-0901_PACIFIC POINT DEVELOPMENT PARTNERS, LLC_Subdivision Bond_SU1133499_1SUBDIVISION LABOR AND MATERIAL BOND (GOVERNMENT CODE 66499.2) Bond No. SU1133499 KNOW ALL MEN BY THESE PRESENTS, that Pacific Point Development Partners, LLC (hereafter designated as "Principal"), and Arch insurance Companv. as Surety (hereinafter called "Surety") agree to install and complete certain designated public Improvements as conditioned by City Council Resolution No's. 92-6-16-4 and 03- 09-16-06. WHEREAS, said Principal is required to furnish a bond pursuant to Municipal Code Section 9-5.101 and 9-5.109 et seq., tor the taithtui performance to guarantee certain work, more particularly described as follows: Pacifica San Juan - 4(d) Conservation measures for Tentative Tract 14196 (Tracts 14196 and 16750) including obligations of Principal under the Interim Habitat Loss Permit consistent with Interim Habitat Loss Implementation Agreement with City NCW, THEREFCRE, we the Principal and Surety are held firmly bound unto the City of San Juan Capistrano, (hereafter called "Cbligee") in the penal sum of Three IVliliion and 00/100 Dollars ($3.000,000.00) lawful money of the United States, tor 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. WHEREAS, the California Department of Fish and Wildlife ("Department") and U.S. Fish and Wildlife Service ("Service") issued a revised 4(d) interim habitat loss permit concurrence letter to the City of San Juan Capistrano tor the Pacific Point Project dated February 11, 2015. The City of San Juan Capistrano ("Obligee") will consider Department's request that the Obligee make a demand of the bond upon the Department's determination that Principal has tailed to meet its mitigation obligations under the Habitat Loss Permit. NOW, THEREFORE, the condition of this obligation is such that if the above hound Principal, his or its heirs, executors, administrators, successors or assigns, shal in all things stand to and abide hy and well and truly keep and perform the covenants. Page 1 of 3 conditions and provisions per City Council Resolution No's. 92-6-16-04 and 03-09-16- 06, on his or their part, to he 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 indemnity and save harmless the City, its otters, agents and employees as therein stipulated, and, as necessary enter into a Suhdivision Agreement, then this ohiigation shall become null and void; otherwise it shall he and remain in full force and effect. BE IT FURTHER RESOLVED: 1. As a part of the ohiigation secured hereby, and in addition to the face amount specified therefore, there shall he included costs and reasonable expenses and tees, including reasonable attorney's tees, incurred hy City in successtully enforcing such ohiigation, all to he taxed as costs and included in any judgment rendered. 2. Said Principal hereby stipulates and agrees that no change, extension of time, alteration, or modification of the terms of the agreement or of the work to he performed thereunder, shall in any way affect its ohiigations or this hond, and it does hereby waive notice of any such change, extension of time, alteration or modification of the terms of the agreement or of the work or to the specifications. IN WITNESS WHEREOF, this instrument has been duly executed hy the Principal herein named on the 7^ day of July, 2015, the name and corporate seal of each corporate party being hereto affixed and these presents duly signed hy its undersigned representatives pursuant to authority of its governing body. PRINCIPAL: Pacific Point Development Partners, LLC, a Delaware limited liability company (NOTARIZATION AND SEAL) By: Taylor Morrison Pacific Point Holdings, LLC Its: \ \Y SURETY: Arch Insurance Company (NOTARIZATION AND SEAL) C/0 WILLIS OF FLORIDA 4211 W. BOY SCOUT BLVD, #1000 TAMPA, FL 33607 Page 2 of 3 INQUIRIES: (813)281-2095 APPROVED AS TO FORM: NOTE: Please attach Acknowledgement and Power of Attorney Page 3 of 3 Senate: Bill 1050, mmd& SrictionS: Xm eM. 1195; of Sie CivB^ geqtion. 820Z .of the Ooyeira®iS:€ocfe notartes ,rittbB&.1ie heloy/ phpical foiroat: of the new djbelosufe; notice is an exarnple, for purposes of illustration. Anotary public'or otiief officer coinpletlhgib certificate, verifies only the identity of the individual who signed the document to which,.fhig certificate is attached, and, not tlie ti-uthiiilness, accuracy, or validity of thgt docurhent. State of Califiimia Gounty of OrAno^e On Avy<,\. -ZDis beforehie. MrVtiv tSefth kodkr Mobry Public (here insert narne and title of officer), personally appeared Philip S. X^iAzw\' , who proved to the oh. the basis:of satisfactQty evid to be'the:peiqdh(s) whoSenanie(^^ is/are:subscribedto the within instrument and acknowledged to me that he/she/tiiey executed the same in his/her/fheir .authorized capacity(ies),, and that by hfs/heir/their :Sighature(s} pii. the iriStftuiient tiie person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under die laws of the State of Califbmia that the foregoing paragraph is true and correct WITNESS my hand and official seal. Signature (Seal) ACKNOWLEDGEMENT BY SURETY STATE OF FLORIDA COUNTY OF HILLSBOROUGH On this 7 day of July, 2015 before me, personally came Margaret A. Ginem, who is personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed the within Instrument as Attorney-in-Fact on behalf of Arch Insurance Company, and acknowledged to me that he/she executed the within instrument on behalf of said surety company and was duly authorized to do. In witness whereof, I have signed and affixed my official seal on the date in this certificate first above written. Signature Malrianella Barnola /?5si% MARIANEUJI BARNOLA /« A TA Commission # EE 170165 jf/ Expires May 5,2016 'NT't'r'N Bonddc! Thru Troy Fain Insurance; 390-333-7019 | This area for Official Notarial Seal AlC 0000155805 THIS POWER OF ATTORNEY IS NOT VALID UNLESS IT IS PRINTED ON BLUE BACKGROUND. This Power of Attorney limits the acts of those named herein, and thgf h\ve no authority to bind the Company except In the manner and to the extent herein stated. Not valid for Mortgage, Ncjp, l^ngLettpf of Credit, Bank Deposit, Currency Rate, Interest Rate or Residential Value 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 referred to as the "Company") does hereby appoint: Ariett Cirdinaie, Brandy Baich, David H. Carr, Eileen C/ Ueard and Margaret A.TGine :. - its true and lawful Attorney(s)in-Fact, to make, execute, seal, and deliver from the date of issuance of this power for and on its behalf as surety, and as Its act and deed: Any and ail bonds, undertakings, recognizance|^d o^eysurety obligations,, |n„the penal sum not exceeding Ninety Miiiion Doiiars ($90.000.000.00). "4 This authority does not permit the same obligation to be spilt into two or morb bonds in order to bring each such bond within the dollar limit of authority as set forth herein. The execution of such bonds, undertakings, recognizances and other surety obligations in pursuance of these presents shall be as binding upon the said Company as fully and amply to ail intents ancypul^oses, as if the same had been duly executed and acknowledged by its regularly elected officers at its priricipai administrativefflfficj in Jersey 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 September 15, 2011, true and accurate copies of which are hereinafter set forth and are hereby certified to by the undersigned Secretary as being in full force and effect: "VOTED, That the Chairman of the Board, the President, or the Executive Vice President, or any Senior Vice President, of the Surety" Business Division, or their appointees(designafed ItT'writihg and filed with thb Secretary, or the Secretary shall have the power and authority to appoint agents and attorneys-in-fact, and to authorize them subject to the limitations set forth in their respective powers of attorney, to execute on behalf of the Company, and attach the seal of the Company thereto, bonds, undertakings, recognizances and other surety obligations obligatory in the nature thereof, and any such officers of the Company may appoint agents for acceptance of process." . , # This Power of Attorney is signed, sealed and certified by facsimile underjgndjby autharity of the following resolution adopted by the unanimous consent of the Board of Directors of the Company on Septembef=1 #2Cff1: VOTED, That the signature of the Chairman of the Board, the President, 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, and the signature of the Secretary, the seal of the Company; and 'certifrcation^by the Secretary, may be affixed by facsimile on any power of attorney or bond executed pursuant to the resolution a'dopfed by thefBoaFd of Directors oh' Septeifiber 15, 2011, and any such pbwer so executed," sealed and certified with respect to any bond orWndertaking to which it Is attactied, shall continue to be valid ahd_blnding upon the Company. 00ML0013 00 03 03 Page 1 of 2 Printed In U.S.A. AlC 0000155805 In Testimony Wtiereof, the Company has caused this instrument to be signed and its corporate seal to be affixed by their authorized officers, this ^ day of June. 2015. Attested and Certified Patrick K. Nails, Secretary STATE OF PENNSYLVANIA SS Arch Insurance Company David stein, Executive Vice President COUNTY OF PHILADELPHIA SS I, Helen Szafran, a Notary Public, do hereby certify that Patrick K. Nails and David M. Finkelstein 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 person 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 acts for the uses and purposes therein set forth. ^»MM»MWEia,-mor.«NN»n.VANiA NOTARIAL SEAL HBMH SZAFRAN, Notary P*fc Cilyof Ptolladalptiia, Mia. OjuftlV My Cromasioiii Expiras Oct^r 3. a17 Helen Szafran, Nbtary I My commission expires 10/03/2017 CERTIFICATION I, Patrick K. Nails, Secretary of the Arch Insurance Company, do hereby certify that the attached Power of Attorney dated June 2, 2015 on behalf of the person(s) as listed above is a true and correct copy and that the same 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 David M. Finkelstein, who executed the Power of Attorney as Executive Vice President, was on the date of execution of the attached Power of Attorney the duly elected Executive Vice President of the Arch Insurance Company. IN Tl this ^J^ONY WHER _day of _ OFy I have hereunto subscribed my name and affixed the corporate seal of the Arch Insurance Company on L/UcQi 20 / 5 Patrick K. Nails, Secretary This Power of Attorney limits the acts of those 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. PLEASE SEND ALL CLAIM INQUIRIES RELATING TO THIS BOND TO THE FOLLOWING ADDRESS: Arch Insurance - Surety Division 3 Parkway, Suite 1500 Philadelphia, PA 19102 00ML0013 00 03 03 Page 2 of 2 Printed in U.S.A.