Surety Bond No. 100627509
LABOR AND MATERIAL BOND
(CONSTRUCTION)
WHEREAS, the City of Riverside, a municipal corporation of the State of California, and AFG Development, LLC hereinafter
referred to as "Principal", have entered into an agreement whereby Principal agrees to install and complete certain designated public improvements, which cond agreen o, dated manuary jeet desid idents lad el gp 37975, fos hereby referred to and made a part hereof; and
WHEREAS, under the terms of said agreement, Principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of Riverside 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, said principal and American Contractors Indemnity Company _ a corporation organized and doing business under and by virtue of the laws of the State of California _, and duly licensed by the State of California for the purpose of making, guaranteeing or becoming sole surety upon bonds or undertakings required or authorized by the laws of the State of California, as Surety, and held firmly bound unto the City of Riverside and all contractors, subcontractors, laborers, material suppliers and other persons employed in the performance of the aforesaid agreement and referred to in the aforesaid Code of Civil Procedure in the sum of One Million Seventy Seven Thousand Three Hundred Seventy Five Dollars ($1,077,375.00) for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to such work or labor, that said 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 the City of Riverside in successfully enforcing such obligations, 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 thereby 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.
1 311-59/CL 427B (Rev. 6/88)
The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms said 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 January 6 _ 2021•
American Contractors_ Indemnity Company
Surety
Her fatue Bind A. Bell
Attorney-in-fact Richard A. Beall
801 S. Figueroa St Suite 700
Address of Corporate Surety
Los Angeles, CA 90017
City Zip Code
619-630-2629
Phone
Approved as to Form:
Beall Ins. & Financial Services
Producer (Bond Issuing Agent)
130 West Vine Street
Anthony L. Beaumon Address
Deputy City Attorney
Redlands, CA 92373
City Zip Code
909-792-2345
Phone
NOTE: Signature of Attorney-in-fact to be acknowledged before a Notary Public.
Attach Power of Attorney.
2 311-59/CL 427B (Rev. 6/88)
CALIFORNIA 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 California
county of San Bernardinio,
on January 10, ,2022 before me, Marquerite sykesen
personally appeared hichard A. Bealt
who proved to me on the basis of satisfactory evidence to be the person() whose name(s) is/ate subscribed to the within instrument and acknowledged to me that he/ske/they executed the same in his/her/thetr authorized capacityies), and that by his/her/their signatures) on the instrument the person&), 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.
MARGUERITE SYKES
COMM. #2364891
NR01 Notary Public - California NRO
WITNESS my hand and official seal.
San Bernardino County
My Comm. Expires July 8, 2025 l
Signature Marguerte Selles
(Seal)
Optional Information
Although the information in this section is not required by law, it could prevent fraudulent removal and reattachment of this acknowledgment to an unauthorized document and may prove useful to persons relying on the attached document.
Description of Attached Document
Additional Information
The preceding Certificate of Acknowledgment is attached to a document Method of Signer Identification titled/for the purpose of Proved to me on the basis of satisfactory evidence:
O form(s) of identification O credible witnesses)
Notarial event is detailed in notary journal on:
containing pages, and dated Page # Entry #
The signer(s) capacity or authority is/are as: Notary contact:
• Individual(s) Other
• Attorney-in-Fact
• Additional Signer(s) • Signer(s) Thumbprint(s)
• Corporate Officers)
Title(s)
Guardian/Conservator
• Partner - Limited/General
• Trustee(s)
• Other:
representing:
Name(s) of Person(s) or Entity(ies) Signer is Representing © Copyright 2007-2020 Notary Rotary, PO Box 41400, Des Moines, IA 50311-0507. All Rights Reserved. Item Number 101772. Please contact your Authorized Reseller to purchase copies of this form.
TOKIO MARINE
HCC
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
That American Contractors Indemnity Company of the State of California, a California corporation, does hereby appoint,
RICHARD A BEALL
its true and lawful Attorney-in-Fact, with full authority to execute on its behalf bond number 100627717 issued in the course business to bind the Company thereby, amount not to exceed Five million and 00/100 $5,000,000.00 ).
This Power of Attorney is granted and is signed and sealed by facsimile under and by the authority of the following resolutions adopted by the Board of Directors of AMERICAN CONTRACTORS INDEMNITY COMPANY at a meeting duly called and held on the 1sl day of September, 2011.
"Be it Resolved, that the President, any Vice-President, any Assistant Vice-President, any Secretary or any Assistant Secretary shall be and is hereby vested with full power and authority to appoint any one or more suitable persons as Attorney(s)-in-Fact to represent and act for and on behalf of the Company subject to the following provisions:
Attorney-in-Fact may be given full power and authority for and in the name of and on behalf of the Company, to execute, acknowledg and deliver, any and all bonds, recognizances, contracts, agreements or indemnity and other conditional or obligatory undertakings including any and all consents for the release of retained percentages and/or final estimates on engineering and construction contracts, and any and all notices and documents canceling or terminating the Company's liability thereunder, and any such instruments so executed by any such Attorney-in-Fact shall be binding upon the Company as if signed by the President and sealed and effected by the Corporate Be it Resolved, that the signature of any authorized officer and seal of the Company heretofore or hereafter affixed to any power of attorney or any certificate relating thereto by facsimile, and any power of attorney or certificate bearing facsimile signature or facsimile seal shall be valid and binding upon the Company with respect to any bond or undertaking to which it is attached." The Attorney-in-Fact named above may be an agent or a broker of the Company. The granting of this Power of Attorney is specific to this bond and does not indicate whether the Attorney-in-Fact is or is not an appointed agent of the Company.
IN WITNESS WHEREOF, American Contractors Indemnity Company has caused its seal to be affixed hereto and executed by its President on this 1st day of June, 2018.
TRACTORSIA
State of California AMERICAN CONTRACTORS INDEMNITY COMPANY
INCORPORATED
SEPT. 25, 1990
County of Los Angeles By:
Adam S. Pessin, President
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.
On this 1st day of June, 2018, before me, Sonia O. Carrejo, a notary public, personally appeared Adam S. Pessin, President of American Contractors Indemnity Company, who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person 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..
NIA O. CARRE
Notary Public - Calffernia
-Now lue ¡ Angeles Cour
rumission 2 22394
Signature (seal) say Conn. Expires Apr 23, 2022
1, Kio Lo, Assistant Secretary of American Contractors Indemnity Company, do hereby certify that the Power of Attorney and the resolution adopted by the Board of Directors of said Company as set forth above, are true and correct transcripts thereof and that neither the said Power of Attorney nor the resolution have been revoked and they are now in full force and effect.
IN WITNESS WHEREOF, I have hereunto set my hand this 7th day of January _ 2022
TRACTORS
Bond No. 100627717
Horo
Agency No. 19662 INCORPORATED Kio Lo, Assistant Secretary SEPT. 25, 1990
HCCSZZPOAACIC06/2018
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