2546 Concorde Estates - DR Horton - Perf Bonda54�
Bond No. SU 1199413
PERFORMANCE BOND (Roads)
KNOW ALL MEN BY THESE PRESENTS:
That we, D.R. Horton, Inc., hereinafter called the Principal, and Arch 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 $65,820.25, 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 Concorde
Estates (fka Sylvestri Concorde Estates) has covenanted and agreed with the City of
Sanford to construct roads, streets and other associated improvements based upon
development plans and plans and specifications pertaining to said subdivision, said
development plans and plan and specifications being dated 1'� day of
NQ,I L , 20 V , 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 development plans and plans and specifications dated
the 1 �J+_L day of V� RQ I l_... , 20 Z I , or within two (2) 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 developments plans and plans and specifications with the time
therein specified then this obligation to 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 developments 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 pay the
cost thereof, including, but not limited to engineering, legal and contingent costs. Should
Performance Bond
Page 1
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 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 the 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 19th day of October, 2023.
Address: 10192 Dowden Rd, Orlando, FL
0ai"
Attest:),I, '
D.R. Horton, Inc. (SEAL)
Its
(If corporation)
Arch Insurance Company
(If corporation)
Noah William Pierce,
(Attached Surety
Performance Bond
Page 2
UAL
M
Bond No.: SU 1199413
Attest
Traci Houchin, City Clerk
For use and reliance of the
Sanford City Commission only.
Approved as to form and legality
City of Sanford, Florida
�vv
illiam L. Colbert, City Attorney
Performance Bond
Page 3
00292
This Power of Attorney limits the acts of those named, herein, and they have no authority to bind the Company except in the manner and to the extent herein stated.
Not valid for Note, Loan, Letter of Credit, 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:
Amy R. Waugh, Bryan M. Caneschi, Catherine Thompson, ,lynell Whitehead, Noah William Pierce and Rebecca E. Cano of Charlotte, NC (EACH)
its true and lawful Atiorney(s)in-Fact, to make, execute, seal, and deliver from the date of issuance of this power for and on its behal f as surety, and as its act and deed:
Any and all bonds, undertakings, recognisances and other surety obligations, in the penal sum not exceeding One Hundred Fifty Million Dollars (S 150,000,000.00).
This authority does not permit the same obligation to be split into two or more 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 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 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 August 31, 2022, 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 designated in writing and filed with the 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 under and by authority of the following resolution adopted by the unanimous consent ofthe Board of
Directors of the Company on August 31, 2022:
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 certifications by the
Secretary, may be affixed by facsimile on any power ofattorney or bond executed pursuant to the resolution adopted by the Board of Directors on August 31, 2022, 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 Testimony Whereof, the Company has caused this instrument to be signed and its corporate seal to be affixed by their authorized officers, this 21" day of
December, 2022. ter^n1,, .,�
Attested and Certified C6%r `O Arch insurance Company
WKrCtttrrrE
SEAL
Itegan' . Shulman, Secretary Stephen C. Ruschak, Executive Vice President
STATE OF PENNSYLVANIA SS
COUNTY OF PHILADELPHIA SS �ii0tlf�
1, Michele Tripodi, a Notary Public, do hereby certify that Regan A. Shulman and Stephen 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 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. comimrst
atttt Of fa . gowy 5Cg1 Ai,
WHEIE tY PwAk�Y3i,2 5 pod1, Notar ublic -----
116an My commission expires 07(3112025
CERTIFICATION C411109ohm M060
I, Regan A. Shulman, Secretary of the Arch Insurance Company, do hereby certify that the attached Power of Attorney dated December 21, 2022 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 Stephen C. Ruschak, 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 TESTIMONY WHEREOF, I have hereunto subscribed my name and affixed the corporate seal of the Arch Insurance Company on thisjgxiay of October
2023
-
�e., A Shulman, 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. -„sem �'„ n�„�"`•.�
PLEASE SEND ALL CLAIM iNQUIRIES RELATING TO THIS BOND TO THE FOLLOWING ADDRESS:
Arch Insurance —Surety Division
3 Parkway, Suite 1.500 (A>KKWATE
Philadelphia, PA 19102 0 SEAL
19Ji
To verify the authenticity of this Power of Attorney, please contact Arch Insurance Company at SuretyAuthentic archins.
Please refer to the above named Attorney -in -Fact and the details of the bond to which the power is attached.
AICPOA040120 Printed in U.S.A.