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2435 M.I. Homes - Argonaut Insurance - Performance Bond.: CITY OF &kNFORD PLANNING & DEVELOPMENT SERVICES DEPARTMENT TO: City Clerk RE: Request for Services The item(s) noted below is/are attached and forwarded to your office for the following action(s): ❑ Development Order ❑ Final Plat (original mylars) ❑ Letter of Credit ❑ Maintenance Bond ❑ Ordinance ,® Performance Bond ❑ Resolution Once completed, please. ❑ Return original ❑ Return copy Special Instructions: ❑ Mayor's signature ❑ Recording ❑ Rendering Safe keeping (Vault) n� be ;)4 Please advise if you have any questions regarding the above. Thank you! P 12 ( P)n h n i► I'offi TADept forms\Transmittal form -- 2 L 20 22 Date M 1 HOMES Welcome to Better Orlando Division 400 International Parkway, Suite 470 Lake Mary, FL 32746 407.531.5100 OFFICE 407.650.3390 FAX TO: Prince Bates & Eileen Henson FROM: Angela Galati DATE July 11, 2022 RE: Towns at Lake Monroe Performance Bond SUR0070807 Enclosed please find the performance bond SUR0070807 for Towns at Lake Monroe. If you require additional information or have any questions, please email me direct at agalati@mihomes.com or call me at 407-531-5196. Thank you. Sincerely, M/I HOMES OF ORLANDO, LLC Angela G. Galati Land Coordinator KNOW ALL MEN BY THESE PRESENTS: That we, M/I Homes of Orlando, LLC hereinafter called the "Principal', and Argonaut Insurance Company , a surety company authorized to do business in the State of Florida, hereinafter called "Surety" are hold and firmly bound to the City of Sanford, a political subdivision of the State of Florida, in the full and just sum of $287,420.10 lawful money of The United States of America, to be paid to the City of Sanford of Seminole County, to which payment well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors, and assigns, jointly and severally, firmly by these presents. WHEREAS, the above bounden Principal has a condition precedent to the approval by the City of Sanford of a plat of a certain subdivision known as Towns at Lake Monroe has covenanted and agreed with the City of Sanford to construct the referenced infrastructure and other associated improvements based upon development plans and plans and specifications pertaining to said subdivision, said development plans and plans and specifications being dated 10 day of March 2021, and being on file with the City of Sanford, Seminole County, Florida, and WHEREAS, it is a condition precedent to the recording of said subdivision that this bond be executed: NOW THEREFORE, the conditions of these obligations are such that if the bounden Principal shall construct the aforesaid improvements in accordance with any date prescribed in the approved developments plans and plans and specifications dated the 10 day of March 2021, or within two years of the date of approval, whichever occurs first and shall in every respect fulfill its, his, their obligations under the development plans and plans and specifications, and shall indemnify and save harmless the City of Sanford against or from all claims, costs, expenses, damages, injury, or loss, including engineering, legal and contingent costs which the City of Sanford may sustain on account of the failure of the Principal to perform in accordance with the development plans and plans and specifications with the time therein specified then this obligation be void; otherwise to be and remain in full force and virtue. The Surety unconditionally covenants and agrees that if the Principal fails to perform all or any part of the construction work required by the development plans and plans and specifications above referred to, within the time specified, the Surety upon forty-five (45) days written notice from the City of Sanford, or its authorized agent or officer of the default, will forthwith perform and complete the aforesaid construction work and paythe cost thereof, including, but not limited to engineering, legal and contingent costs. Should the Surety fail or refuse to perform and complete the said improvements, the City of Sanford, in view of the public, interest, health, safety and welfare factors involved and the inducement in approving and filing the plat, shall have the right to resort to any and all legal remedies against the Principal and the Surety, or either, both PERFORMANCE BOND Page 1 of 2 at law and in equity, including specifically specific performance, to which the Principal and Surety unconditionally agree. The Principal and the Surety further jointly and severally agree that the City of Sanford, and its option, shall have the right to construct or, pursuant to public advertisement and receipt of bids, cause to be constructed the aforesaid improvements in case the Principal should fail or refuse to do so. In the event the City of Sanford should exercise and give effect to such right, the Principal and Surety shall be jointly and severally liable hereunder to reimburse the City of Sanford the total cost thereof, including, but not limited to, engineering, legal and contingent costs, together with any damages, either direct or consequential, which may be sustained on account of the failure of the Principal to carry out and execute all the provision of said agreement. IN WITNESS WHEREOF, the Principal and the Surety have executed these presents this the 6th day of July , 2022 . 400 International Parkway, #470 Lake Mary, FL, 32746 M/I Homes of Orlando, LLC PRINCIPAL BY: // ITS (IF A CORPORATION) (SEAL) ATTEST: ITS: ADDRESS: Argonaut Insurance Company (SEAL) 13100 Wortham Center Dr., Suite 290 Houston, TX 77065 SURE� B S. ttorney-m-Fact Denise Nelson (IF A CORPORATION) ATTEST 15�,� (Attached Surety Power of Attorney) PERFORMANCE BOND Page 2 of 2 T:\Development Review\04-Engineering\Bonds\Per ormance Bond Infrastructure.docx Argonaut Insurance Company Deliveries Only: 225 W. Washington, 24th Floor Chicago, IL 60606 United States Postal Service: P.O. Box 469011, San Antonio, TX 78246 POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS: That the Argonaut Insurance Company, a Corporation duly organized and existing under the laws of the State of Illinois and having its principal office in the County of Cook, Illinois does hereby nominate, constitute and appoint: Denise Nelson, Michael Ward, Deborah L. Williams, Stephanie McOuillen, Shelley M. Kuhn Their true and lawful agent(s) and attomey(s)-in-fact, each in their separate capacity if more than one is named above, to make, execute, seal and deliver for and on its behalf as surety, and as its act and deed any and all bonds, contracts, agreements of indemnity and other undertakings in suretyship provided, however, that the penal sum of any one such instrument executed hereunder shall not exceed the sum of: $97550,000.00 This Power of Attorney is granted and is signed and sealed under and by the authority of the following Resolution adopted by the Board of Directors of Argonaut Insurance Company: "RESOLVED, That the President, Senior Vice President, Vice President, Assistant Vice President, Secretary, Treasurer and each of them hereby is authorized to execute powers of attorney, and such authority can be executed by use of facsimile signature, which may be attested or acknowledged by any officer or attorney, of the Company, qualifying the attorney or attorneys named in the given power of attorney, to execute in behalf of, and acknowledge as the act and deed of the Argonaut Insurance Company, all bond undertakings and contracts of suretyship, and to affix the corporate seal thereto." IN WITNESS WHEREOF, Argonaut Insurance Company has caused its official seal to be hereunto affixed and these presents to be signed by its duly authorized officer on the 19th day of November, 2021. Argonaut Insurance Company STATE OF TEXAS COUNTY OF HARRIS SS: 2r °: SEAL D = by: i rL•; 1948 ............ Gary E. Grose President On this 19th day of November, 2021 A.D., before me, a Notary Public of the State of Texas, in and for the County of Harris, duly commissioned and qualified, came THE ABOVE OFFICER OF THE COMPANY, to me personally known to be the individual and officer described in, and who executed the preceding instrument, and he acknowledged the execution of same, and being by me duly sworn, deposed and said that he is the officer of the said Company aforesaid, and that the seal affixed to the preceding instrument is the Corporate Seal of said Company, and the said Corporate Seal and his signature as officer were duly affixed and subscribed to the said instrument by the authority and direction of the said corporation, and that Resolution adopted by the Board of Directors of said Company, referred to in the preceding instrument is now in force. IN TESTIMONY WHEREOF, I have hereunto set my hand, and affixed my Official Seal at the County of Harris, the day and year first above written. L,KATHLEEN M MEEKS NOTARYPUBLICF TE'�cc h�>`• MY COMM. EXP. 07/7525 NOTARY ID 557902-8 (Notary Public) I, the undersigned Officer of the Argonaut Insurance Company, Illinois Corporation, do hereby certify that the original POWER OF ATTORNEY of which the foregoing is a full, true and correct copy is still in full force and effect and has not been revoked. IN WITNESS WHEREOF, I have hereunto set my hand, and affixed the Seal of said Company, on the. 6th day of July 2022 ;:•SEAL' a � � rL� : 1948 2 •• �<<INO�`'•� • T Austin W. King Secretary IF YOU HAVE QUESTIONS ON AUTHENTICITY OF THIS DOCUMENT CALL (833) 820 - 9137.