CITY OF
FAITHFUL PERFORMANCE BOND
MENIFEE IMPROVEMENT PROJECTS
CITY OF MENIFEE, STATE OF CALIFORNIA
Streets and Drainage: $ 0.00 Tract/Parcel Map #: TM-38303 Riv. Co. Flood Control: $ 0.00 Other Project Ref: 25-041 Water System: $ 0.00 Bond No. _ES00026537
Recycled Water: $ 0.00 Premium Amount: $8,860.00
Sewer System: $ 0.00
Landscape: $ 443,000.00
TOTAL SECURITY: $ 443,000.00
Surety: Everest Reinsurance Company Principal: V4 Menifee Valley Business Park Bldg 4 LLC Address: 100 Everest Way, Warren Corporate Center Address: 333 S Grand Avenue, Suite 300 City/State: Warren, NJ City/State: Los Angeles, CA
Zip Code: 07059 Zip Code: 90071
Phone: (908) 604-3000 Phone:
WHEREAS, the City Council of the City of Menifee, State of California (hereinafter designated as "city"), and IV4 Menifee Valley Business Park Bldg 4 LLC (hereinafter designated as "principal") have entered into an agreement whereby the principal agrees to install and complete certain designated public and/or private improvements, which agreement, dated May 5, 2026 and identified as Menifee Valley Business Park (CFD) POC 5 - McLaughlin Road 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 Everest Reinsurance Company as surety, are held and firmly bound unto the city, in the penal sum of Four Hundred Forty-Three Thousand Hundred and 00/100 dollars ($443,000.00) 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 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
FAITHFUL PERFORMANCE BOND
MENIFEE IMPROVEMENT PROJECTS
CITY OF MENIFEE, STATE OF CALIFORNIA
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 thereunder or the specitications 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 agreement or to the work or to the specifications.
Surety further stipulates and agrees that the provisions of section 2845 of the Civil Code are not a condition precedent to surety's obligations hereunder and are hereby waived by surety.
In witness whereof, this instrument has been duly executed by the principal and surety above named, on July 9, 2026.
NAME OF PRINCIPAL: IV4 Menifee Valley Business Park Bldg 4 LLC
AUTHORUZEO SICMNTUREE
Name: ROHAN ARECKETT
Title: SENIOR VICE PRESIDENT
(IF CORPORATION, AFFIX SEAL)
NAME OF SURETY: Everest Reinsurance Company
AUTHORIZED SIGNATURE: Anton someone maintact
Title
(IF CORPORATION, AFFIX SEAL.)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND ATTORNEY-IN-FACT.
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
State of California Los Angeles
County of
July 13, 2026 Katherine Mesina Viado, Notary Public
On_ before me,
(insert name and title of the officer)
Rohan A'Beckett
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/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. KATHERINE MESINA VIADO Notary Public - California
Los Angeles County
Commission # 2539298
My Comm. Expires Dec 17, 2029
(Seal)
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 TEXAS
County of Dallas
Diana A. Cervantes, Notary Public
(insert name and title of the officer)
personally appeared AUTUMN STOCKTON ==========:
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 TEXAS that the foregoing paragraph is true and correct.
DIANA A. CERVANTES
WITNESS my hand and official seal. Notary ID #133518424 My Commission Expires
January 5, 2030
signature Diamanter
(Seal)
L everest™
POWER OF ATTORNEY
EVEREST REINSURANCE COMPANY
oice locate at are Corporate perter, s versE ay: aren, e Cosey, or orator re state or lara Copy having is pri S. Nicole Evans, Stephanie Gunderson, Diana Cervantes, Carlos A. Albelo, Autumn Stockton ts true and lawful Attorneys)-in-fact to make, execute, attest, seal and deliver for and on its behalf, as surety, and as its act and deed, where required, any and all bonds and undertakings in the nature thereof, for the penal sum of no one of which is in any event to exceed UNLIMITED, reserving for itself the ful power of substitution and revocation.
Such bonds and undertakings, when duly executed by the aforesaid Attorney(s)-in-fact shall be binding upon the Company as fully and to the same extent as if such bonds and undertakings were signed by the President and Secretary of the Company and sealed with its corporate seal.
This Power of Attorney is granted and is signed by facsimile under and by the authority of the following Resolutions adopted by the Board of Directors of Company ("Board") on April 21, 2016:
RESOLVED, that the President, any Executive Vice President, and any Senior Vice President are hereby appointed by the Board as authorized to make, execute, seal and deliver for and on behalf of the Company, any and all bonds, undertakings, contracts or obligations in surety or co-surety with others and that the Secretary or any Assistant Secretary of the Company be and that each of them hereby is authorized to attest to the execution of any such bonds, undertakings, contracts or obligations in surety or co-surety and attach thereto the corporate seal of the Company.
RESOLVED, FURTHER, that the President, any Executive Vice President, and any Senior Vice President are hereby authorized to execute powers of attomey qualifying the attorney named in the given power of attomey to execute, on behalf of the Company, bonds and undertakings in surety or co-surety with others, and that the Secretary or any Assistant Secretary of the Company be, and that each of them is hereby authorized to attest the execution of any such power of attorney, and to attach thereto the corporate seal of the Company.
RESOLVED, FURTHER, that the signature of such officers named in the preceding resolutions and the corporate seal of the Company may be affixed to such powers of attorney or to any certificate relating thereto by facsimile, and any such power of attomey or certificate bearing such facsimile signatures or facsimile seal shall be thereafter valid and binding upon the Company with respect to any bond, undertaking, contract or obligation in surety or co-surety with others to which it is attached.
IN WITNESS WHEREOF, Everest Reinsurance Company has caused their corporate seals to be affixed hereto, and these presents to be signed by their duly authorized officers this 5th day of September2024.
Mensurance Everest Reinsurance Company
OKPOMAT
SEAL
1973
CHLAWAR
By: Anthony Romano, Senior Vice President
On this 5th day of September 2024, before me personally came Anthony Romano, known to me, who, being duly sworn, did execute the above instrument hat he knows the seal of said Company; that the seal affixed to the aforesaid instrument is such corporate seal and was affixed thereto; and that he executes said instrument by like order.
LINDA ROBINS
Notary Public, State of New York Auer Pohen
No 01R06239736
Tem Expires April 25,202Z7
Linda Robins, Notary Public
1, Sylvia Semerdjian, Secretary of Everest Reinsurance Company do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Section of the bylaws and resolutions of said Corporation as set forth in said Power of Attorney, with the ORIGINALS ON FILE IN THE HOME OFFICE OF SAID CORPORATION, and that the same are correct transcripts thereof, and of the whole of the said originals, and that the said IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said Company, this 9th _ day of July _2022 pensurance
CORPORATE Sunsens
SEAL
1973
DELAWARE
By: Sylvia Semerdjian, Secretary
ES 00 01 04 16
CUT OF
PAYMENT BOND
MENIFEE IMPROVEMENT PROJECTS
CITY OF MENIFEE, STATE OF CALIFORNIA
Streets and Drainage: $ 0.00 Tract/Parcel Map #: TM-38303 Riv. Co. Flood Control: $ 0.00 Other Project Ref: 25-041 Water System: $ 0.00 Bond No. ES00026537
Recycled Water: $ 0.00 Premium Amount: Included in Performance Bond Sewer System: $ 0.00
Landscape: $ 443,000.00
TOTAL SECURITY: $ 443,000.00
Surety: Everest Reinsurance Company Principal: IV4 Menifee Valley Business Park Bldg 4 LLO Address: 100 Everest Way, Warren Corporate Center Address: 333 S Grand Avenue, Suite 300 City/State: Warren, NJ City/State Los Angeles, CA
Zip Code: 07059 Zip Code: 90071
Phone: (908) 604-3000 Phone:
WHEREAS, the City Council of the City of Menifee, State of California (hereinafter designated as "city"), and IV4 Menifee Valley Business Park Bldg 4 LLC (hereinafter designated as "principal") have entered into an agreement whereby the principal agrees to install and complete certain designated public and/or private improvements, which agreement, dated March 27, 2026 and identified as Menifee Valley Business Park (CFD) POC 5 - McLaughlin Road 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 to secure the claims to which reference is made in Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code.
NOW, THEREFORE, the principal and the undersigned as corporate surety, are held firmly bound unto the city and all contractors, subcontractors, laborers, material suppliers, and other persons employed in the performance of the agreement and referred to in Title 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code in the sum of Four Hundred Forty- Three Thousand and 00/100 dollars ($443,000.00), 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 3 (commencing with Section 9000) of Part 6 of Division 4 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond.
CITY OF
PAYMENT BOND
MENIFEE IMPROVEMENT PROJECTS
CITY OF MENIFEE, STATE OF CALIFORNIA
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.
The surety further stipulates and agrees that the provisions of section 2845 of the Civil Code are not a condition precedent to surety's obligations hereunder and are hereby waived by surety.
In witness whereof, this instrument has been duly executed by the principal and surety above named, on July 9, 2026.
NAME OF PRINCIPAL: IV4 Menifee Valley Business Park Bldg 4 LLC AUTHORIZED SIGNATURE(S):
By:
Name: ROHAN A'BECKETT
Title: SENIOR VICE PRESIDENT
(IF CORPORATION, AFFIX SEAL)
NAME OF SURETY: Everest Reinsurance Company
AUTHORIZED SIGNATURE:
Title
(IF CORPORATION, AFFIX SEAL)
ATTACH NOTARIAL ACKNOWLEDGMENT OF SIGNATURES OF PRINCIPAL AND ATTORNEY-IN-FACT.
ACKNOWLEDGMENT
State of California Los Angeles
County of
July 13, 2026 before me, Katherine Mesina Viado, Notary Public On
(insert name and title of the officer)
Rohan A'Beckett
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/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. KATHERINE MESINA VIADO Notary Public - California
Los Angeles County
Commission # 2539298
pula My Comm. Expires Dec 17, 2029
Signature Seal)
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 TEXAS
County of. Dallas
Diana A. Cervantes, Notary Public
(insert name and title of the officer)
personally appeared AUTUMN STOCKTON ======
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 TEXAS that the foregoing paragraph is true and correct.
WITNESS my hand and official seal. DIANA A. CERVANTES
Notary ID #133518424
My Commission Expires
January 5, 2030
T8-699524
Diana leatr
Signature (Seal)
L everest™
POWER OF ATTORNEY
EVEREST REINSURANCE COMPANY
NOW ALL PERSONS BY THESE PRESENTS: That Everest Reinsurance Company, a corporation of the State of Delaware ("Company") having its princip fice located at Warren Corporate Center, 100 Everest Way, Warren, New Jersey, 07059, do hereby nominate, constitute, and appoin S. Nicole Evans, Stephanie Gunderson, Diana Cervantes, Carlos A. Albelo, Autumn Stockton ts true and lawful Attomeys)-in-fact to make, execute, attest, seal and deliver for and on its behalf, as surety, and as its act and deed, where required, an and all bonds and undertakings in the nature thereof, for the penal sum of no one of which is in any event to exceed UNLIMITED, reserving for itself the ful power of substitution and revocation.
such bonds and undertakings, when duly executed by the aforesaid Attorney(s)-in-fact shall be binding upon the Company as fully and to the same extent a such bonds and undertakings were signed by the President and Secretary of the Company and sealed with its corporate sea This Power of Attorney is granted and is signed by facsimile under and by the authority of the following Resolutions adopted by the Board of Directors of Company ("Board") on April 21, 2016:
RESOLVED, that the President, any Executive Vice President, and any Senior Vice President are hereby appointed by the Board as authorized to make, execute, seal and deliver for and on behalf of the Company, any and all bonds, undertakings, contracts or obligations in surety or co-surety with others and that the Secretary or any Assistant Secretary of the Company be and that each of them hereby is authorized to attest to the execution of any such bonds, undertakings, contracts or obligations in surety or co-surety and attach thereto the corporate seal of the Company.
RESOLVED, FURTHER, that the President, any Executive Vice President, and any Senior Vice President are hereby authorized to execute powers of attorney qualitying the attorney named in the given power of attomey to execute, on behalf of the Company, bonds and undertakings in surety or co-surety with others, and that the Secretary or any Assistant Secretary of the Company be, and that each of them is hereby authorized to attest the execution of any such power of attorney, and to attach thereto the corporate seal of the Company.
RESOLVED, FURTHER, that the signature of such officers named in the preceding resolutions and the corporate seal of the Company may be affixed to such powers of attorey or to any certificate relating thereto by facsimile, and any such power of attorey or certificate bearing such facsimile signatures or facsimile seal shall be thereafter valid and binding upon the Company with respect to any bond, undertaking, contract or obligation in surety or co-surety with others to which it is attached.
IN WITNESS WHEREOF, Everest Reinsurance Company has caused their corporate seals to be affixed hereto, and these presents to be signed by their duly authorized officers this 5" day of September2024.
Reinsurance Everest Reinsurance Company
SEAL Company
Everest 8973
ORLAKAN
By: Anthony Romano, Senior Vice President
On this 5th day of September 2024, before me personally came Anthony Romano, known to me, who, being duly sworn, did execute the above instrument; that he knows the seal of said Company: that the seal affixed to the aforesaid instrument is such corporate seal and was affixed thereto; and that he executed said instrument by like order.
LINDA ROBINS
Notary Public, State of New Yor Auce Piles
No 01R06239736
Tem Expires April 5, 027
Linda Robins, Notary Public
, Sylvia Semerdjian, Secretary of Everest Reinsurance Company do hereby certify that I have compared the foregoing copy of the Power of Attomey an affidavit, and the copy of the Section of the bylaws and resolutions of said Corporation as set forth in said Power of Attorey, with the ORIGINALS ON FILE I! THE HOME OFFICE OF SAID CORPORATION, and that the same are correct transcripts thereof, and of the whole of the said originals, and that the said Power of Attorney has not been revoked and is now in full force and effect. 9th day of July _202°
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said Company, this Rensurance
CORPORATE Sunders
SEAL
1973
DELAWARE
By: Sylvia Semerdjian, Secretary
ES 00 01 04 16