Accent Residential Homes - Subdivision Improvement Performance Bond SUBDIVISION IMPROVEMENT
PERFORMANCE BOND
Bond No. 5595925
KNOW ALL MEN BY THESE PRESENTS, that we Accent Residential Homes, Inc., An
Oregon Corporation, as Principal, and DEVELOPERS SURETY AND INDEMNITY
a
corporation duly authorized to conduct a geneFafisdr-eify business in the State of Oregon, as
Surety, are jointly and severally held bound unto the City of Tigard, Oregon, a municipality of the
State of Oregon, hereinafter called obligee, in the sum of four hundred twenty thousand dollars
and zero cents ($420,000.00), lawful money of the United States of America, for the payment of
which we, as Principal, and as Surety,jointly and severally bind ourselves, our successors and
assigns firmly by these present.
THE CONDITIONS OF THIS BOND AND OBLIGATION IS SUCH, that the Principals are
developing a subdivision, known as Mountain View Estates S ubdivision, I orated in the City of
Tigard, Oregon, and have entered into a Compliance Agreement with respect to timely
development and improvement, a copy of said Agreement Is attached, and by reference made a
part hereof,and
NOW, THEREFORE, if the Principal herein shall faithfully and truly observe and comply
with all terms of the Agreement and shall well and truly perform all matters and things undertaken
to be performed under said Agreement and under all ordinances,regulations and conditions of the
Obligee applicable to said development and improvement,and shall promptly make payments to
all persons supplying labor.or material for any of the work provided by said agreement, and-Shall
not permit any lien or claim to.be.filed or prosecuted against the Obligee, then this obligation shall
be void, otherwise to remain in full force and effect.
In the event of suit or action be filed by the Obligee hereunder to enforce said contract or
to recover under the terms of this bond, in addition to all other rights and remedies, the City, in the
event it shall prevail, shall be entitled to recover such sums as the Court may adjudge reasonable
as and for attorney's fees.
1•19 WITNESS WHEREOF, the parties hereto have caused this bond to be executed this
2ND day of SEPTEMBER , 2005.
Accent Residential Homes, Inc.
Principal
By: -P.PEli
Title
(A true copy of the Power of Attorney DEVELOPERS SURETY AND INDEMNITY
must be attached to the original of this bond). COMPANY
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Surety
`-Attome
FIVE CENTERPOINTE SUIT 5_3fl
LAKE OSWEGO OR 97035
Address
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POWER OF ATTORNEY FOR
DEVELOPERS SURETY AND INDEMNITY COMPANY
INDEMNITY COMPANY OF CALIFORNIA
PO BOX 19725,IRVINE,CA 92623 (949)263-3300
KNOW ALL MEN BY THESE PRESENTS,that except as expressly limited,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY
COMPANY OF CALIFORNIA,do each,hereby make,constitute and appoint:
***Lori D. Cunningham, Sean Flinn, Blaine D. Williamson, Geri M. Burnett, Morag A. Corey, Eric Englund,
jointly or severally***
as their true and lawful Attomey(s)-in-Fact,to make,execute,,deliver an&acknowledge,for and on-behalf of said corporations,as sureties,bonds,undertakings
and contracts of suretyship giving and granting unto said Attomey(s)-in-Fact full power and authority to do and to perform every act necessary,requisite or proper
to be done in connection therewith as each of said corporations could do,but reserving to each of said corporations full power of substitution and revocation,and
all of the acts of said Attorney(s)-in-Fact,pursuant to these presents,are hereby ratified and confirmed.
This Power of Attorney is granted and is signed by facsimile under and by authority of the following resolutions-adopted by the respective Board of Directors of
DEVELOPERS SURETY AND,INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA,effective as of November 1,2000:
RESOLVED,that the Chairman of the Board,the President and any Vice President of the corporation be,and that each of them hereby is,authorized to
execute Powers of Attorney,qualifying the attomey(s)named in the Powers of Attorney to execute,on behalf of the corporations,bonds,undertakings and contracts
of suretyship;and that the Secretary or any Assistant Secretary of the corporations be,and each of them hereby is,authorized to attest the execution of any such
Power of Attorney;
RESOLVED,FURTHER,that the signatures of such officers may be affixed to any such Power of Attorney or to any certificate relating thereto.by
facsimile,and any such Power of Attorney or certificate bearing such facsimile signatures shall be valid and binding upon the corporation when so affixed and in
the future with respect to any bond,undertaking or contract of suretyship to which it is attached.
IN WITNESS WHEREOF,DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF CALIFORNIA have severally caused
these presents to be signed by their respective Executive Vice President and attested by their respective Secretary this 1 st day of February,2005.
By C� 111111111116811111AANY
David H.Rhodes,Executive Vice-President �JQ`���•'PC"•�N��yo GO PpOq p
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OCT.5 O
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By.Walter A.Crowell,Secretary �' y.�9 3p o•'Dc /FOPa�P a�
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STATE OF CALIFORNIA )
)SS.
COUNTY OF ORANGE )
On February 1,2005,before me,Nita Q Hiff neyer,personally appeared David H.Rhodes and Walter A.Crowell,personally known to me(or proved
to me on the basis of satisfactory evidence)to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the
same in their authorized capacities,and that by their signatures on the instrument the entity upon behalf of which the persons acted,executed the instrument.
WITNESS my hand and official seal.
NITA G.rn MfYER
COMAA.i'1649481
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Signature ORMIOE OOl1N1Y
carr.a,�flree Jen:aO,Eoo®
CERTIFICATE
The undersigned,as Executive Vice-President,of DEVELOPERS SURETY AND INDEMNITY COMPANY and INDEMNITY COMPANY OF
CALIFORNIA,does,hereby certify that the foregoing Power of Attorney remains in full force and has not been revoked,and furthermore,that the provisions of
the resolutions of the respective Boards of Directors of said corporations set forth in the Power of Attorney,:are in force as of the date of this Certificate.
This Certificate is executed in the City of Irvine,California,the 2ND day of SEPTEMBER 2005
By
David L.Kerrigan,Executive Vice-President tl
ID-1380(Rev.2/05)
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DISCLOSURE RIDER
Terrorism Risk Insurance Act of 2002
The Terrorism Risk Insurance Act of 2002 created a three-year program under which the
Federal Government will share in the payment of covered losses caused by certain events of
international terrorism. The Act requires that we notify you of certain components of the Act, and
the effect, if any, the Act will have on the premium charged for this bond.
Under this program, the Federal Government will cover 90% of the amount of covered
losses caused by certified acts of terrorism, as defined by the Act. The coverage is available only
when aggregate losses resulting from a certified act of terrorism exceed$5,000,000.00. Insurance
carriers must also meet a variable deductible established by the Act. The Act also establishes a
cap of$100 billion for which the Federal Government or an insurer can be responsible.
Participation in the program is mandatory for specified lines of property and casualty
insurance, including surety insurance. The Act does not, however, create coverage in excess of
the amount of the bond, nor does it provide coverage for any losses that are otherwise excluded
by the terms of the bond, or by operation of law.
No additional premium has been charged for the terrorism coverage required by the Act.
Developers Surety and Indemnity Company
Indemnity Company of California
17780 Fitch,Suite 200.
Irvine,,CA 92614
(949)2613300
www.inscoOlco.com
ID-1498(Rev.5/03)