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03 Staff Report.Accept Public Improvements for North 40 Phase 1 w attachments
PREPARED BY: James Watson Senior Engineer Reviewed by: Town Manager, Assistant Town Manager, Town Attorney Finance Director, and Parks and Public Works Director, and Town Engineer 110 E. Main Street Los Gatos, CA 95030 ● (408) 354-6832 www.losgatosca.gov TOWN OF LOS GATOS COUNCIL AGENDA REPORT MEETING DATE: 02/06/2024 ITEM NO: 3 DATE: January 26, 2024 TO: Mayor and Town Council FROM: Laurel Prevetti, Town Manager SUBJECT: Authorize the Town Manager to Execute a Notice of Completion and Certificate of Acceptance for Specified Improvements Completed by SummerHill N40 LLC for the North 40 Phase 1 Development at Lark Avenue and Los Gatos Boulevard and Authorize the Town Clerk to Submit for Recordation RECOMMENDATION: Authorize the Town Manager to execute a Notice of Completion and Certificate of Acceptance (Attachment 1) for specified improvements completed by SummerHill N40 LLC (“SummerHill”) for the North 40 Phase 1 Development at Lark Avenue and Los Gatos Boulevard and authorize the Town Clerk to submit for recordation. BACKGROUND: On August 1, 2017, the Town Council adopted Resolution 2017-045 approving the construction of a mixed-use development consisting of 320 residential units, approximately 66,800 square feet of commercial space, associated off-site improvements, and a vesting tentative map on property zoned as part of North 40 Specific Plan. On September 7, 2018, the Town Council approved the final map for Tract 10441 – North 40 Phase 1, accepting the dedications, and authorizing the Town Manager to execute a Subdivision Improvement Agreement (“Agreement”) (Attachment 2), and various other documents to support implementation of the approved project. PAGE 2 OF 4 SUBJECT: Authorize the Town Manager to Execute a Notice of Completion and Certificate of Acceptance for Specified Improvements Completed by SummerHill N40 LLC for the North 40 Phase 1 Development at Lark Avenue and Los Gatos Boulevard and Authorize the Town Clerk to Submit for Recordation DATE: January 26, 2024 BACKGROUND (continued): On October 4, 2018, the Town executed the Agreement with SummerHill for the construction of certain improvements required by various Conditions of Approval (“Required Improvements”) stipulated in the Architectural and Site Plan Review process. The Agreement stipulated 18 “Plans”, identified as “a” through “r”, to be prepared by SummerHill to complete the Required Improvements, and they complete repaving of certain sections of Lark Avenue and Los Gatos Boulevard. The Agreement required SummerHill to furnish to the Town security bonds to guarantee their performance in executing the required work. On June 20, 2023, Town Council accepted project improvements listed in Table 1 below. Table 1. Bonded Improvements Completed by Summerhill and Previously Accepted Plan ID1 Description of Improvement Bond Value d Los Gatos North 40 Tract 10441 In tract Rough Grading Plans dated August 14, 2018 by Mackay & Somps $6,430,000 e Los Gatos North 40 Phase 1 Offsite Los Gatos Blvd Phase A Improvement Plans dated July 27, 2018 by Mackay & Somps $710,000 f Los Gatos Blvd & Walker Street Traffic Signal Plan dated August 2018 by Fehr & Peers g Walker Street & Los Gatos Blvd Phase A Signing and Striping Plan dated August 2018 by Fehr & Peers m Los Gatos North 40 Offsite Lark Avenue Caltrans Right of Way Improvement Plans dated March 12, 2018 including plans by Mackay & Somps, Finn Design Group, Van Dorn Abed, Fehr & Peers, and Giacalone $799,000 r Los Gatos North 40 Phase 1 Off Site Storm and Sanitary Sewer Improvement Plans dated September 13, 2017 $401,000 No ID North 40 Phase 1 Offsite Lark and Los Gatos Blvd - Pavement Replacement $3,262,000 Note 1: As defined in the Subdivision Improvement Agreement between Town of Los Gatos and Summerhill. PAGE 3 OF 4 SUBJECT: Authorize the Town Manager to Execute a Notice of Completion and Certificate of Acceptance for Specified Improvements Completed by SummerHill N40 LLC for the North 40 Phase 1 Development at Lark Avenue and Los Gatos Boulevard and Authorize the Town Clerk to Submit for Recordation DATE: January 26, 2024 DISCUSSION: SummerHill has now completed nine additional projects described within the Subdivision Improvement Agreement. Staff have inspected the work and finds the work complete with proper documentation submitted. Table 2 summarizes the projects proposed to be accepted with this action. Still remaining are projects referenced as “a”, “b”, and “c” in the Subdivision Improvement Agreement. Table 2. Bonded Improvements Completed by Summerhill as of December 2023 in Association with the Phase 1 North 40 Project Plan ID1 Description of Improvement Bond Value h Los Gatos North 40 Phase 1 Offsite Lark Avenue and Los Gatos Boulevard Improvement Plans dated June 4, 2018 by Mackay & Somps $1,938,000 i North 40 Phase 1 Public Street Lighting Plans dated June 2018 byGiacalone j North 40 Offsite Lark Avenue and Los Gatos Blvd Landscaping Plans dated June 1, 2018 by Van Dorn Abed k Lark Ave & Los Gatos Blvd Traffic Signal Plans dated June 2018 by Fehr & Peers l Lark Ave & Los Gatos Blvd Signing and Striping Plans dated June 2018 by Fehr & Peers n Los Gatos North 40 Phase 1 Lark Avenue Bike Lane Improvement Plans dated March 15, 2018 by Mackay & Somps $390,000 o North 40 Offsite Lark Avenue Landscape Construction Drawings dated June 6, 2018 by Van Dorn Abed p Lark Ave & Oka Road Traffic Signal Plans dated June 2018 by Fehr & Peers q Lark Avenue Signing and Striping Plans dated June 2018 by Fehr & Peers Note 1. As defined in the Subdivision Improvement Agreement between Town of Los Gatos and Summerhill. Plans a through c are not complete at this time and are not presented in either Table 1 or Table 2. The requested Council action would initiate a two-year warranty period for the accepted work. SummerHill would provide the Town a two-year Guarantee and Warranty Security Bond in the amount of 10 percent of the original value of the bonds. The Guarantee and Warranty Security Bond will provide for the repair and/or replacement of defective materials and workmanship in the completed improvements. This two-year Guarantee and Warranty Security Bond is PAGE 4 OF 4 SUBJECT: Authorize the Town Manager to Execute a Notice of Completion and Certificate of Acceptance for Specified Improvements Completed by SummerHill N40 LLC for the North 40 Phase 1 Development at Lark Avenue and Los Gatos Boulevard and Authorize the Town Clerk to Submit for Recordation DATE: January 26, 2024 DISCUSSION (continued): required to be submitted prior to the Town’s release of the Faithful Performance and Labor and Materials bonds. CONCLUSION: Staff is recommending that the Town Manager be authorized to execute a Notice of Completion and Certificate of Acceptance for specified improvements completed for the Phase 1 North 40 Project. FISCAL IMPACT: The improvements within the public right-of-way are dedicated to and accepted by the Town through the subdivision process and the approval of the final map. These improvements become part of the Town’s infrastructure to be maintained after the expiration of the two-year warranty period. ENVIRONMENTAL ASSESSMENT: An Environmental Impact Report (EIR) for the project was certified by Town Council on January 20, 2015. Attachments: 1.Notice of Completion and Certificate of Acceptance 2.Subdivision Improvement Agreement Recording Requested by: TOWN OF LOS GATOS WHEN RECORDED MAIL TO: TOWN CLERK TOWN OF LOS GATOS 110 E MAIN ST LOS GATOS, CA 95030 ______________________________________________________________________________ (SPACE ABOVE BAR FOR RECORDER’S USE) (RECORD WITHOUT FEE UNDER GOVERNMENT CODE SECTIONS 27383 AND 6103) TYPE OF RECORDING NOTICE OF COMPLETION AND CERTIFICATE OF ACCEPTANCE NORTH 40 – PHASE 1 LARK AVENUE AND LOS GATOS BOULEVARD, LOS GATOS, CA TO WHOM IT MAY CONCERN: I do hereby certify that SummerHill N40 LLC completed the work secured with Improvement Securities (4) and (7) as defined in the Subdivision Improvement Agreement Section 6.a., specifically located in the TOWN OF LOS GATOS, County of Santa Clara, State of California executed October 4, 2018. The work was completed in December 2023, and approved and accepted on February 6, 2024. Bond No.: 748730 and 748733 Date: October 11, 2018 INTERNATION FIDELITY INDEMNITY COMPANY One Network Center, 20th Floor, Newark, New Jersey 07102-5207 TOWN OF LOS GATOS By: __________________________________ Laurel Prevetti, Town Manager Acknowledgement Required ATTACHMENT 1 This Page Intentionally Left Blank Recording Requested by: TOWN OF LOS GATOS WHEN RECORDED MAIL TO: CLERK ADMINISTRATOR TOWN OF LOS GATOS 110 E MAIN ST LOS GATOS, CA 95030 24041269 Regina Alcomendras Santa Clara County -Clerk-Recorder 10/11/2018 01:23 PM CONFORMED COPY Copy of document recorded. Has not been compared with original. {SPACE ABOVE BAR FOR RECORDER'S USE) (RECORD WITHOUT FEE UNDER GOVERNMENT CODE SECTIONS 27383 and 6103) SUBDIVISION IMPROVEMENT AGREEMENT North 40 Phase 1 Los Gatos, CA 95032 APNs: 424-07-024 through 424-07-027, 424-07-031 through 424-07-035, 424-07-070, 424-07-084 through 424-07-086, 424-07-090, and 424-07-113 through 424-07-114 ATTACHMENT 2 SUBDIVISION IMPROVEMENT AGREEMENT BETWEEN THE TOWN OF LOS GATOS AND SUMMERHILL N40 LLC LOS GATOS, CALIFORNIA EXECUTION COPY This agreement, made and entered into effective upon the last date this document is signed by the parties hereto, by and between the TOWN OF LOS GATOS, a municipal corporation of the State of California, hereinafter "Town," and SUMMERHILL N40 LLC, after this called "Subdivider," whose principal place of business is 3000 Executive Parkway, Suite 450, San Ramon, CA 94583. WITNESSETH WHEREAS, a Final Map (hereinafter "Map") of Tract 10441 (the "Subdivision") owned by Subdivider and commonly known as "North 40 Phase 1," has been filed with the Town, which Map is incorporated herein by reference; WHEREAS, the Conditions of Approval of the Subdivision Application (A&S Cond. 163) require the Subdivider to construct and complete certain improvements according to the following plans and specifications ("Improvement Plans" or "Plans"): a.Los Gatos North 40 -Phase I Tract 10441 Improvement Plans dated August 24, 2018 byMackay & Somps b.North 40-Onsite Private Street Lighting Plans dated August 23, 2018 byGiacalone c.North 40 lntract/Phase One Landscape Construction Plans dated August 24, 2018 by Van Dorn Abed d.Los Gatos North 40 Tract 10441 In tract Rough Grading Plans dated August 14, 2018 by Mackay & Somps e.Los Gatos North 40 Phase 1 Offsite Los Gatos Blvd Phase A Improvement Plans dated July 27, 2018 by Mackay & Somps f.Los Gatos Blvd & Walker Street Traffic Signal Plan dated August 2018 by Fehr & Peers g.Walker Street & Los Gatos Blvd Phase A Signing and Striping Plan dated August 2018 by Fehr & Peers h.Los Gatos North 40 Phase 1 Offsite Lark Avenue and Los Gatos Boulevard Improvement Plans dated June 4, 2018 by Mackay & Somps i.North 40 Phase 1 Public Street Lighting Plans dated June 2018 byGiacalone j.North 40 Offsite Lark Avenue and Los Gatos Blvd Landscaping plans dated June 1, 2018 by Van Dorn Abed k.Lark Ave & Los Gatos Blvd Traffic Signal plans dated June 2018 by Fehr & Peers I.Lark Ave & Los Gatos Blvd Signing and Striping Plans dated June 2018 by Fehr & Peers SMHH\54443\1441213.12 1 m.Los Gatos North 40 Offsite Lark Avenue Caltrans Right of Way Improvement Plans datedMarch 12, 2018 including plans by Mackay & Somps, Finn Design Group, Van Dorn Abed, Fehr & Peers, and Giacalone n.Los Gatos North 40 Phase 1 Lark Avenue Bike Lane Improvement Plans dated March 15, 2018 by Mackay & Somps o.North 40 Offsite Lark Avenue Landscape Construction Drawings dated June 6, 2018 by Van Dorn Abed p.Lark Ave & Oka Road Traffic Signal Plans dated June 2018 by Fehr & Peers q.Lark Avenue Signing and Striping Plans dated June 2018 by Fehr & Peers r.Los Gatos North 40 Phase 1 Off Site Storm and Sanitary Sewer Improvement Plans datedSeptember 13, 2017 The foregoing improvements are hereinafter referred to as "Required Improvements"; WHEREAS, the Subdivider has prepared, and the Town Engineer has substantially approved, Improvement Plans for the completion of the Required Improvements in connection with the Subdivision. The Plans are on file in the Office of the Town Engineer and are incorporated into this agreement by this reference, along with any changes or modifications as may be required by the Town Engineer or designee due to errors, omissions, or changes in conditions; WHEREAS, Subdividerrecognizes that, by approval of the Map for Subdivision, Town has conferred substantial rights upon Subdivider, including the right to sell, lease, or finance lots and/or condominiums within the Subdivision. As a result, Town will be damaged to the extent of the cost of installation of these Required Improvements by Subdivider's failure to perform its obligations to commence construction of the Required Improvements by the lime established in this agreement. The Town shall be entitled to all remedies available to it pursuant to this agreement and law in the event of default by Subdivider; and WHEREAS, Subdivider has asked Town to review and approve the Map and accept the dedications therein offered, subject to and on condition that the Subdivider, prior to issuance of a building permit for the Required Improvements, enter into this agreement with the Town, and provide the Town with such security for performance and insurance and all other things as required by this agreement; NOW, THEREFORE, to insure satisfactory performance by Subdivider of these obligations, and in consideration of the approval of the Map, the parties now agree as follows: 1.PERFORMANCE OF WORK Subdivider agrees to furnish, construct and install at Subdivider's own expense the RequiredImprovements. The Plans and specification of the Required Improvements may be modified by the Subdivider as th.e Subdivision progresses, subject to prior written approval of the Town Engineer. SMHH\54443\1441213.12 2 2.WORK; SATISFACTION OF TOWN ENGINEER All the work on the Required Improvements is lo be done at the places, of the materials, and in themanner and at the grades, shown upon approved Plans and specifications and the Town's Ordinances, Improvement Standards and Specifications, to the satisfaction of the Town Engineer.Work shall be completed within two (2) years from the date of this agreement, subject to extension due to force majeure event under Section 1 0(a). 3.INSPECTION BY TOWN Subdivider shall at all times provide safe access for inspection by the Town to all parts of theRequired Improvements and to all places where the Required Improvements are in preparation. 4.SURVEY MONUMENTS Subdivider shall install all Subdivision monuments required by law prior to recordation of the Notice of Acceptance. 5.DEDICATION OF EASEMENTS OR RIGHT-OF-WAY The Town acknowledges that Subdivider has offered lo the Town lo dedicate fee title to all streets subject to public access easement (PAE) shown on the Map. 6.IMPROVEMENT SECURITY Concurrently with the execution of this agreement, the Subdivider shall furnish the Town: a.Faithful Performance Security: Pursuant to California Government Code section 66499.3(a) Subdivider shall, before the release of the Map by the Town for filing for recordand as a condition precedent to the recordation of it, furnish to the Town and file with the Town Clerk cash, an instrument of credit, or a bond as provided by the Subdivision Map Act,in a form approved by the Town Attorney, securing performance by Subdivider of all work shown on the Plans and completion within the agreed lime. The security shall be in theamount of one hundred percent (100%) of the total estimated cost of the Required Improvements, as determined by the Director. The amount of cash, instrument of creditor bond shall be $20,585,000 based on individual bonds as follows: (1)North 40 Phase 1 Tract 10441 In tract Private Improvements ($6,655,000)-based on improvement plans (a), (b) and (c) noted on page 1. (2)North 40 In tract Tract 10441 Rough Grading ($6,430,000)-based on improvement plans (d) noted on page 1. (3)North 40 Phase 1 Offsite Los Gatos Blvd Phase A Improvements ($710,000) - based on improvement plans (e), (f) and (g) noted on page 1. (4)North 40 Phase 1 Offsite Lark and Los Gatos Blvd Improvements ($1,938,000) -based on improvement plans (h), (i), OJ, (k) and (0 noted on page 1. (5)North 40 Phase 1 Offsite Lark and Los Gatos Blvd -Pavement Replacement($3,262,000) (6)North 40 Offsite Lark Avenue Improvements within Caltrans Right-of-Way($799,000) -based on improvement plans (m) noted on page 1. SMHH\54443\1441213.12 3 (7)North 40 Offsite Lark Avenue Bike Lane Improvements ($390,000) -based on improvement plans (n}, (o}, (p) and (q) noted on page 1. (8)North 40 Offsite Storm and Sanitary Sewer Improvement Plans ($94,000) -based on improvement plans (r) noted on page 1. (9)North 40 Offsite Storm and Sanitary Sewer Improvement Plans ($307,000)-basedon improvement plans (r) noted on page 1. b.Payment Security: Subdivider shall furnish to the Town and file with the Town Clerk cash,an instrument of credit, or a bond as provided by the Subdivision Map Act, in a form approved by the Town Attorney, securing the obligations for payment to the contractor,subcontractors and to persons renting equipment or furnishing labor or materials for thecompletion of the Required Improvements. The security shall be in the amount of onehundred percent (100%) of the total estimated cost of the Required Improvements, asdetermined by the Director. The amount of cash, instrument of credit or bond shall be $20,585,000 based on the individual bonds described in Section 6(a). c.Guarantee and Warranty Security: It is further agreed that a "guarantee and warranty security" in the amount of ten (10%) percent of the total estimated cost of the RequiredImprovements for a period of two (2) years following their completion and acceptance by the Town against any defective work or labor done, or defective materials furnished, by theSubdivider. This limitation on the security does not shorten any time during which the Townmay act to enforce the Subdivider's obligations under the terms of this agreement, nor shorten any time during which Town may bring an action in an appropriate court regarding the subject or performance of this agreement. d.Monument Security: It is further agreed that a "monument security" in the amount of one hundred percent ( 100%) of the total estimated cost of the installation of survey monuments inthe Subdivision within the period of time specified in the Surveyor's Statement on the approved Final Map. The Monument Bond is included in various other line items within the distributed bonds. e.Any bonds submitted as security pursuant to this section shall be executed by a suretycompany authorized to transact a surety business in the State of California. f.No change, alteration, or addition to the terms of this agreement or the Plans and specifications incorporated herein shall in any manner affect the obligation of the sureties, except as otherwise provided by the Subdivision Map Act. g.The securities shall be irrevocable, shall not be limited as to time except as to the two (2)year guarantee and warranty period) and shall provide that they may be released, in whole or part, only upon the written approval of the Director and as provided in Section 7-Releaseof Security. All securities provided pursuant to this agreement shall expressly obligate the surety for any extension authorized by the Town for Subdivider's completion of the RequiredImprovements, whether or not the surety is given notice of such an extension by the Town. 7.RELEASE OF SECURITY a.Guarantee and Warranty Security: Any unused portion of the guarantee and warrantysecurity shall be released two (2) years after acceptance of the Required Improvementsby the Town Council. The amount to be released shall first be reduced by the amount deemed necessary by the Town to correct any defects in the RequiredImprovements that are known or believed by the Town to exist at the end of the guarantee and warranty period. SMHH\54443\1441213.12 4 b.Payment Security: Security securing the payment to the contractor, his or hersubcontractors, and to persons furnishing labor, materials or equipment shall, after acceptance of the work, be reduced to an amount equal to the total timely claimed by allclaimants for whom claims of lien have been recorded and notice thereof given in writing to the legislative body (with the balance of the Payment Security being released) and, if nosuch claims have been timely recorded, the security shall be release in full. c.Faithful Performance Security: The faithful performance security shall be released uponacceptance of the Required Improvements by the Town Council. d.Monument Security: The monument security may be released upon acceptance of the required monument installation by the Director. 8.HOLD HARMLESS Subdivider does expressly agree to protect, defend, indemnify and hold harmless {hereinafter, "hold harmless") the Town, its Town Council Members, Boards, Commissions, employees and agents (hereinafter, the "Town"), from any and all loss or damage, and from any and all liability, including cost of defense, for any and all loss or damage, and from any and all suits, actions or claims filed or brought by any or all persons or person (hereinafter, "Claim") because of or resulting from the acts by Subdivider of any and all things required of Subdivider by this agreement, or because of or arising or resulting from the failure or omission by Subdivider to do any and all things necessary to and required by this agreement or by law, or arising or resulting from the negligent acts by Subdivider, Subdivider's agents, employees or subcontractors of any and all things required to be done by this agreement, or arising or resulting from any dangerous or defective condition arising or resulting from any of the above said acts or omissions of Subdivider, Subdivider's agents or employees. Subdivider shall not be required to hold harmless (as described above) the Town for Claims caused or arising out of the sole negligence or willful misconduct of the Town. 9.INSURANCE Subdivider shall furnish to the Town and file with the Town Clerk evidence of, and at all times during the performance of its obligations under this agreement maintain, the insurance described in Exhibit A. 10.TIME EXTENSIONS a.If performance of this agreement actually should be delayed by inclement weather, riots, strikes, lockouts, fires, earthquakes, floods and conditions resulting therefrom, subcontractordelays, labor shortages, material shortages or delays, Town delays, or for other reasons beyond the control of the Subdivider, the time for the construction of same may be extendedby the Town Engineer for such period of time as is reasonable. b.Requests for extension of the commencement and/or completion date shall be in writing anddelivered to the Town in the manner hereinafter specified for service of notices. An extension of time, if any, shall be granted only in writing. · c.In the event the Town extends the time of commencement and/or completion of the Required Improvements, such extension shall be granted in writing by the Town to the Subdivider pursuant to this agreement, and/or without relieving or releasing those providing an improvement security pursuant to this agreement. The surety or sureties, if any, in executing the securities shall be deemed to have expressly agreed to any such extension of time. SMHH\54443\1441213.12 5 d.In granting any extension of time, the Town may require new or amended improvementsecurity in amounts increased to reflect increases in the costs of constructing the incomplete Required Improvements, taking into account all Required Improvements that have been completed. 11.MAINTENANCE OF PUBLIC INFRASTRUCTURE The Subdivider shall maintain all Required Improvements (streets, sidewalks, right-of-way, street light, storm drainage facility, sanitary sewer, etc.) in a safe and usable condition at all times during construction. Should any Required Improvements become unsafe, unusable or inoperable because of the Subdivider's activities, the Subdivider shall immediately cease all work on the Subdivision until the public infrastructure is made safe and usable, for which the Subdivider shall be solely responsible. Additionally, notwithstanding acceptance by Town, Subdivider shall maintain and perform or cause to be performed repairs, additions, or corrective work necessitated by Subdivider's omission or deficient performance for one (1) year after acceptance. If the Subdivider fails to act promptly or in accordance with this agreement, or if the exigencies of the situation require repairs or replacements to be made before the Subdivider can be notified, then the Town may, at its option, make the necessary repairs or replacements or perform the necessary work, and Subdivider shall pay the Town the actual cost of such repairs plus fifteen percent ( 15%) within thirty (30) days of the date of billing for such work by Town. 12.DEFAULT BY SUBDIVIDER a.Default of Subdivider shall include, but not be limited to: (1)Subdivider's failure to timely commence construction of Required Improvements under this agreement; (2)Subdivider's failure to complete construction of the Required Improvements withinthe lime period provided by this agreement or any extensions thereof; (3)Subdivider's failure to timely cure any defect in the Required Improvements duringthe two (2) year guaranty and warranty period where such failure continues beyond thirty (30)days after written notice thereof from the Town, or if such failure is not susceptible tocure within such thirty (30) day period, Subdivider has not commenced to cure within suchthirty (30) day period and does not thereafter continue to diligently proceed to cure; (4)Subdivider's failure to perform substantial construction work for a period of 30 consecutive calendar days after commencement of the work, for reasons other than force majeure events; (5)Subdivider's insolvency, appointment of a receiver, or the filing of any petition inbankruptcy, either voluntary or involuntary, which Subdivider fails to discharge within 30 days; (6)The commencement of a foreclosure action against the subdivision or a portion thereof, or any conveyance in lieu or in avoidance of foreclosure; or (7)Subdivider's failure to perform any other obligation under this agreement within thirty (30)days after written notice thereof from the Town, or if such failure is not susceptible to cure within such 30-day period, Subdivider has not commenced to cure within such 30-day period and does not thereafter continue to diligently proceed to cure. b.The Town reserves all remedies available to ii at law or in equity for breach of Subdivider's obligations under this agreement. The Town shall have the right, subject to this Section, to SMHH\54443\1441213.12 6 draw upon or use the appropriate security to mitigate the Town's damages in the event of default by Subdivider. The Town's right to draw upon or use the security is in addition to any other remedy available to Town. The parties acknowledge that the estimated costs and security amounts may not reflect the actual cost of construction of the Improvements and, therefore, Town's damages for Subdivider's default shall be measured by the cost of completing the Required Improvements. The Town may use the sums provided by the securities for the completion of the Required Improvements in accordance with the Plans and specifications contained herein. In the event Subdivider fails to cure any default under this agreement within thirty (30) days after the Town mails written notice of such default to the Subdivider and the Subdivider's surety, Subdivider authorizes Town to perform the obligation for which Subdivider is in default and agrees to pay the entire cost of such performance by the Town. The Town may take over the work and complete the Required Improvements, by contract or by any other method the Town deems appropriate, at the expense of Subdivider. In such event, the Town, without liability for so doing, may complete the Required Improvements using any of Subdivider's materials, appliances, Plans and other property that are at the work site and that are necessary to complete the Required Improvements. 13.NOTICES Notices regarding this agreement shall be given as follows and shall be considered effective upon either personal delivery or five (5) days following deposit in the U.S. Mail: To SUBDIVIDER: To TOWN: SummerHill N40 LLC 3000 Executive Parkway, Suite 450 San Ramon, CA 94583 Parks and Public Works Department Town of Los Gatos 41 Miles Avenue Los Gatos, California 95030 Any party may change such address by notice in writing to the other party and thereafter notices shall be addressed and transmitted to the new address. 14.WAIVER Waiver of a breach of default under this agreement shall not form a continuing waiver or a waiver of a subsequent breach of the same or any other provision of the agreement. 15.SEVERABILITY If any term of this agreement is held invalid by a court of competent jurisdiction, the remainder of this agreement shall remain in effect. 16.ENTIRE AGREEMENT AND AMENDMENT This agreement constitutes the complete and exclusive statement of the agreement between the Town and Subdivider. No verbal agreement or conversation with any officer, agent, or employee of the Town, either before, during or after the execution of this agreement, shall affect or modify any of the terms or obligations contained in the agreement. There are no intended third party beneficiaries to this Agreement. SMHH\54443\1441213.12 7 17.PAYMENT OF OUTSTANDING FEES Prior to acceptance of Required Improvements for permanent maintenance by the Town. Subdivider shall pay all outstanding fees that are due in accordance with this agreement and the Town Code of the Town of Los Gatos. 18.ACTIONS TO ENFORCE If any action at law or equity, including an action for declaratory relief, is brought to enforce or interpret the provisions of this agreement, the prevailing party shall be entitled to reasonable attorneys' fees, expert witness fees and costs, in addition to any other relief to which they may be entitled. 19.REIMBURSEMENT OF ATTORNEYS FEES In the event of any third party claim or legal challenge to any action taken by the Town with regard to any procedure or aspect of this agreement, including approval or environmental review process, the Town may choose to defend the claim or action with the prior written approval of the Subdivider, the Subdivider, if it has consented to the defense of the claim or action, agrees to reimburse the Town for attorneys' fees, expert witness fees, and any other costs the Town may incur in connection with iis retention of legal counsel, and for any award of court costs and fees against the Town. 20.AGREEMENT BINDS SUCCESSORS This agreement pertains to and runs with the land benefited by the privileges it grants and binds the successors in interest of the parties to this agreement. 21.MORTGAGE PROTECTION No breach of this agreement shall defeat or render invalid the lien of any deed of trust or mortgage recorded against all or any portion of the Subdivision. No lender taking title to all or any portion of the Subdivision through foreclosure or deed in-lieu of foreclosure shall be liable for any defaults or monetary obligations of Subdivider arising prior to acquisition of possession of such property by such lender. The foreclosing lender shall have the right to find a substitute developer to assume the obligation of Subdivider, which substitute shall be considered for approval by Town pursuant to this agreement, which approval shall not be unreasonably withheld, conditioned or delayed. Town agrees to provide any lender who has recorded a deed of trust or mortgage against all or any portion of North 40 Phase 1 of which Town has been given notice (each, a "Lender'') with written notice of any default relating to the Subdivider and/or North 40 Phase 1 given by Town to Subdivider. Town agrees that, notwithstanding anything to the contrary contained in this Agreement, Lender shall have an additional sixty (60) days from the date Lender receives notice of a default to cure any such default, provided that Lender shall not have any obligation to cure any such default. If a Lender or an affiliate of such Lender succeeds to the interest of Subdivider through foreclosure or deed in-lieu of foreclosure, then the time periods for performance of Subdivider's obligations set forth in this agreement (if any) shall be extended for a period of time reasonable under the circumstances to permit such Lender or such affiliate to perform Subdivider's obligations under this agreement. SMHH\54443\1441213.12 8 TOWN Of LOS GATOS TOWN Ml1i.NAGER ., ATTEST: APPROVED AS TO FORM: / DATE: /O-'-f- /J RECOMMENDED BY: DATE: _______ _ SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager Laurel Prevetti CLERK ADMINJST TOR She 11 ey Neis SUBQIYIPEB By: f@;nc //tu -�Its: Executive Vice� DATE: _'1--1/�1t-1---;-/ \_'o_ By: DATE: _q�{_a-_=t-�f (_B _ Jason Bigs Secretary Its: ____ _ SMHH\54443\1441213.12 9 LICWORKS CALIFORNIA ALLm PURPOSE 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 �n +u C Ltu ,�} )-ti t 8' before me s\., \ 11 L£._, ko,A ss-cl l()ultff p_, 6 I,�'-��+,---,H"-e�ce�lc�s�srthc�,m�e�a�c"d!;frr;,e�o�t�e�o�,�ecrt--'--::....:--, personally appeared __ L_l_L_�l_l' 1':_-_l __ P_re_. _v_e._t-h_· _· ____________ _ who proved to me on the basis of satisfactory evidence to be the person(s) whose name($') is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in-flis/her/their authorized capacity(ie5t, and that by his/her/t+teir 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 PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. :g,;t"J@--:-:: ___ ,,.:::-"··_-_-. --::S::::-YL:-:::VIE:-::R::::OU�SS::,EL,---,[ = COMM.# 2106517 � NOTARYPUBUNALIFORNIA � I · _,SANTA CLARA COUNTY _ My Comm. Exp. April 11, 2019 j INSTRUCTIONS FOR COMPLETING THIS FORM ADDITIONAL OPTIONAL I Ill F O RMA Tf O Ill Th;s form comp hes whh current Californ;a statutes regard;ng not a')• wo,d;ng and, DESCRIPTION OF THE ATTACHED DOCUMENT if needed, should be completed and attached to the document. Acknowledgments from other states may be completed for documents being sent to that state so longas the wording does not require the California notmy to violate California notary law. (Title or description of attached document) (Title or description of attached document continued) Number of Pages __ Document Date ___ _ CAPACITY CLAIMED BY THE SIGNER □Individual (s)□Corporate Officer {Title)□Partner(s)□Attorney-in-Fact□Trustee(s) 0 Other _________ _ 2015 Version W'<>'W NotaryC!2-ssm\ccrr: BOD-873-9865 •State and County information must be the State and County where the documentsigner(s) personally appeared before the notary public for acknowledgment. •Date of notarization must be the date that the signer(s) personally appeared whichmust also be the same date the acknowledgment is completed.The notary public must print his or her name as it appears within his or hercommission followed by a comma and then your title (notary public).Print the name(s) of document signer(s) who personally appear at the time of notarization.•Indicate the correct singular or plural forms by crossing off incorrect forms (i.e.he/she/they, is /are) or circling the correct fonns. Failure to correctly indicate thisinfonnation may lead to rejection of document recording.•The notary seal impression must be clear and photographically reproducible.Impression must not cover text or lines. If seal impression smudges, re-seal if asufficient area pennits, otherwise complete a different acknowledgment form.o Signature of the notaiy public must match the signature on file with the office of the county clerk.❖Additional information is not required but could help to ensure thisacknowledgment is not misused or attached to a different document.❖Indicate title or type of attached document, number of pages and date.❖Indicate the capacity claimed by the signer. If the claimed capacity is acorporate officer, indicate the title (i.e. CEO, CFO, Secretary).•Securely attach this document to the signed document with a staple. CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 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 Stv\,t\_, � ) On � i 1-, Ull't before rne, � Pelici,r'\.";;,, �� PvJJtf.c.- Date Here Insert Narng_ � of the Officerpersonally appeared ��AY tv1)_ J� �"2 Name(s) of S1gner(s) who proved to rne 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. BRIANA PERKINS Notary Pubtic • California z. Santa Clara County ! Commission# 2245007 My Comm, Expires Jun 30, 2022 Place Notary Seal Above I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS rny hand and official seal. Signatur�M Vo Signature of Notary Public ---------------OPTIONAL---------------Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: _____________ Document Date: _______ _ Number of Pages: Signer(s) Other Than Named Above: ____________ _ Capacity{ies) Claimed by Signer{s) Signer's Name: ____________ _ □Corporate Officer -Title(s): ______ _□Partner -□ Limited □ General□Individual □Attorney in Fact□Trustee □Guardian or Conservator□Other: ______________ _Signer Is Representing: _________ _ Signer's Name:.::---c=-:-.,---------□ Corporate Officer - Title(s): ______ _□Partner -□ Limited □ General□Individual □Attorney in Fact□Trustee □Guardian or Conservator□Other:=----,-----------Signer Is Representing: _________ _ ©2014 National Notary Association· www.NationalNotary.org • 1-800-US NOTARY (1-800-876-6827) Item #5907 CALIFORNIA ACKNOWLEDGMENT CIVIL CODE § 1189 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 ___ S_a_n_ta_C_la_r_a _______ _ } On ----"O'--'C1b=YW=_1-"--'-_7J)�\ s�--before me, __ S_te_f_a_ni_e_D_._H_o_c_k_em_e�ye_r�, _N_o_ta_ry�P_u-'-b-'-lic:_ __ _ Date Here Insert Name and Title of the Officer personally appeared ____ ___cM=a:c:ttc:M=o-'-'rl-=-eLy _____________________ _ Name(s) of Signer(s) 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 STEFANIE D. HOCKEMEYER Commission # 2086033 Notary Public � California i7 Santa Clara County � $J -My Comm. Expires Oct 14, 2016 [,�T?'';.7"'ZP",l''"'B'C"'��'w"'"'i'�:m.;_1,'Si;.:�,q;r�:;:;;::,;5-""'✓,;'�.;..,�, Place Notary Seal and/or Stamp Above I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. OPTIONAL --------------- Completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: ____________________________ _ Document Date: _____________________ Number of Pages: ____ _ Signer(s) Other Than Named Above: ________________________ _ Capacity(ies) Claimed by Signer(s) Signer's Name: ____________ _ D Corporate Officer -Title(s): _______ _ D Partner -□ Limited D General D Individual D Trustee D Attorney in Fact □ Guardian or Conservator D Other: ______________ _ Signer is Representing: _________ _ Signer's Name: ____________ _ D Corporate Officer - Title(s): ______ _ □Partner -□ Limited D GeneralD Individual □Attorney in Fact□Trustee □Guardian or Conservator□Other: ______________ _Signer is Representing: _________ _ �;":�����.:.�.J[���:®._����.®����:_� ©2018 National Notary Association FAITHFUL PERFORMANCE BOND BOND NUMBER: 0728666 PREMIUM: $63,223 WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SUMMERHILL N40 LLC (herein designated as "Principal") have entered an agreement by which Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, said Principal is required under the terms of the Subdivision Improvement Agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the Principal and INTERNATIONAL FIDELITY INDEMNITY COMPANY, as Surety, are held and firmly bound unto the Town, in the penal sum of six million, six hundred and five thousand ($6,655,000) 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, formally by these presents. The condition of this obligation is such that if the above bounded Principal, 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 Subdivision Improvement 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 Town, its officers, agents and employees, as therein stipulated, and this obligation shall become null and void; otherwise it shall be and remain in full force and effect. Principal and Surety further agree that, upon Town's final approval of the work, ten percent (10%) of this bond shall remain in effect to guarantee the repair and/or replacement of defective materials and/or construction, one (1) year after Town's final acceptance of the work, unless Principal posts a separate warranty bond instead. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by Town in successfully enforcing such obligation, all to be taxed as costs and included in any judgement 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 specifications accompanying the same shall in any way 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 Subdivision Improvement Agreement or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on September 7th, 2018. 1 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager By: By: Its· /---,'-l-<4-------- Its SMHH\54443\1441213.9 2 SURETY: IN�DELITY INDEMNITY COMPANY By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 [City, State, ZIP] EXECUTION COPY 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 CaliforlJ,\,'l ,1 ~ /. County of a a--fn;_.-L..JJ�7?<._• On :5epf /,J 1 2,.t}I) , before me /Yl · fCn,,el/i ·a Notary Public, personallyappeared ' ��,; C SZ-1-D , who proved to me on the basis of satisfactory evidenceto be the person(sj-whos �ame(.s) is/ai:e subscribed to the within instrument and acknowledged to me thatRe/she/tl:le.y executed the same in Ri5/her/tl:le-ir authorized capacity(ies).,_ and that by l,j,;/her/tbeirsignature(s� on the instrument the person(,+,-or the entity upon behalf of which the person(.s) acted,executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoingparagraph is true and correct. WITNESS my hand and official seal. Signature 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 CaliforlJia /JJ ��-'-_County of (,_b�� c,.,...,, o----- On =��.:..!.��'?t-.9--�· before m , /J?-�, he-6{ · , a Notary Public, personallyappeared n •){ v , who proved to me on the basis of satisfactory evidenceto be the personis) whose name( is/afe subscribed to the within instrument and acknowledged to me that he.'sh@{lhey executed the same in his/heri'tRsir authorized capacity(is&}, and that by his/hei:LllJgirsignature(sl, on the instrument the person(sr, or the entity upon behalf of which the person(s.) acted,executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoingparagraph is true and correct. WITNESS my hand and official seal. Signature '--Jn · � SMHH\54443\1441213.9 1 j'®®eeeemeeee @ M. RINETTI f<Notsry PubNc -California � Coritra Ccsta County j Commission# 2220824 -1.1� Comm. E.xpires Nov 5. 2021 LABOR AND MATERIALS BOND BOND NUMBER: 0728666 PREMIUM: Included WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SummerHill N40 LLC (hereinafter designated as "Principal") have entered an agreement whereby Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, under the terms of the Subdivision Improvement Agreement, Principal is required, before entering upon the performance of the work, to file a good and sufficient payment bond with the Town 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 the undersigned as Corporate Surety are held firmly bound unto the Town and all contractors, subcontractors, laborers, material suppliers and other persons employed in the performance of the Subdivision Improvement Agreement and referred to in the aforesaid Civil Code in the sum of six million, six hundred and fifty-five thousand ($6,655,000) 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 herein above 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 Town in successfully enforcing such 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 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. The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Subdivision Improvement 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 September 7th, 2018. SMHH\54443\1441213.9 1 PRINCIPAL: SURETY: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company By: Rachel A Portger Its: Attorney-In-Fact B lts y: Manager ( �- 1'frorie L. Szto 2999 Oak Rd. #820 By: Its: / sz;r.�r Vice President [;';A"'d�d�reS<s�s';-] '-"'""--""'="--------- / /Walnut Creek CA 94597 f .1 ' [City, State, ZIP] J I ' �1v�-- 1JJ UJ0 SMHH\54443\1441213.9 2 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the docwnent to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of Califo�aCounty of l'vfrti- On � /{), ?£;/°j , before me, fn • f<:',nc-1/, · a Notary _Public, personallyappeared 7 ma...p ,r C :52 +tJ , who proved to me on the basis of satisfactory evidence to be the person(sl-whose name(st is/ai.. subscribed to the within instrument and acknowledged to me that �he/lRe'f executed the same in his/her/tl.eir authorized capacity(i&s}, and that by hisfher/theirsignaturefs) on the instrument the person{&r, 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. Signature �' � · 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 docwnent. State of Califon}ijl ..47�,J County of r2__nfr,c_ C:.bo:!.!J!c On���_!_���L_, befor7,m , rrl · K.,ht:..,/4; , a_ Notary Public, personallyappea d ----'-='.!l..L-L.£.&<...JL'/1.-""',1;"""--� who proved to me on the basis of satisfactory evidence to be the person(s) whose name( is/= subscribed to the within instrument and acknowledged to me that he.'sh.i'lhey executed the same in his/h� authorized capacity(ies-), and that by his/h� 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 PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature SMHH\54443\1441213.9 eeeeeeeeeefM. RINETTI Notary Public -California 2 Contra Ccs:a County � Commission# 2220824 - My Comm, Expires Nov 5. 2021 September 7, 2018 POWER OF ATTORNEY INTERNATIONAL FIDELITY INSURANCE COMPANY ALLEGHENY CASUAL TY COMPANY Bond# One Newark Center, 20th Floor, Newark, New Jersey 07102-5207 PHONE: (973) 624-7200 0728666 KNOW ALL MEN BY THESE PRESENTS: That INTERNATIONAL FIDELITY INSURANCE COMPANY, a corporation organized and existing under the laws of the State of New Jersey, and ALLEGHENY CASUALTY COMPANY a corporation organized and existing under the laws of the State of New Jersey, having their principal office in the City of Newark, New Jersey, do hereby constitute and appoint IVAN M. MAROEVICH, JR., RACHEL A. PORTER, WILLIAM R. GRINDELL, VALERIE D. WILLIAMS-COLE PAUL F. PERLITE. San Francisco, CA. their true and la\Nfu! attorney(s)-in-fact to execute, seal and deliver for and on its behalf as surety, any and all bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be allowed, required or permitted by law, statute, ru!e, regulation, contract or otherwise, and the execution of such instrument(s) in pursuance of these presents, shall be as binding upon the said INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY, as fully and amply, to all intents and purposes, as if the same had been duly executed and acknowledged by their regularly elected officers at their principal offices. This Power of Attorney is executed, and may be revoked, pursuant to and by authority of the By-Laws of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY and is granted under and by authority of the following resolution adopted by the Board of Directors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting duly held on the 20th day of July, 2010 and by the Board of Directors of ALLEGHENY CASUALTY COMPANY at a meeting du!y held on the 1oth day of July, 2015 "RESOLVED, that (1) the Chief Executive Officer, President, Executive Vice President, Vice President, or Secretary of the Corporation shall have the power to appoint, and to revoke the appointments of, Attorneys-in-Fact or agents with power and authority as defined or limited in their respective powers of attorney, and to execute on behalf of the Corporation and affix the Corporation's seal thereto, bonds, undertakings, recognizances, contracts of indemnity and other written obligations in the nature thereof or related thereto; and (2) any such Officers of the Corporation may appoint and revoke the appointments of joint-control custodians, agents for acceptance of process, and Attorneys-in-fact with authority to execute waivers and consents on behalf of the Corporation; and (3) the signature of any such Officer of the Corporation and the Corporation's seal may be affixed by facsimile to any power of attorney or certification given for the execution of any bond, undertaking, recognizance, contract of indemnity or other written obligation in the nature thereof or related thereto, such signature and seals when so used whether heretofore or hereafter, being hereby adopted by the Corporation as the original signature of such officer and the original seal of the Corporation, to be valid and binding upon the Corporation with the same force and effect as though manually affixed." IN WITNESS WHEREOF. INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY have each executed and attested these presents on this 31st day of December, 2016 STATE OF NEW JERSEY County of Essex cJXSUA(J-y "a George R. James Executive Vice President (International Fidelity Insurance Company) and Vice President (Allegheny Casualty Company) 1936 ! * <l,j, JE\lslc--\ On this 31st day of December, 2016 , before me came the individual who executed the preceding instrument, to me personally known, and, being by me duly sworn, said he is the therein described and authorized officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and of ALLEGHENY CASUAL TY COMPANY; that the seals affixed to said instrument are the Corporate Seals of said Companies; that the said CorporateSeals and his signature were duly affixed by order of the Boards of Directors of said Companies. !N TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal, at the City of Newark, New Jersey the day and year first above written. CERTIFICATION Cathy Cruz a Notary Public of New Jersey My Commission Expires April 16, 2019 I, the undersigned officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY do hereby certify that [have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Sections of the By-Laws of said Companies as set forth in said Power of Attorney, with the originals on file in the home of said companies, 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. IN TESTIMONY WHEREOF, I have hereunto set my hand on this day, A00436/MOC Insurance Services. Maria H. Branco, Assistant Secretary ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of t he individual who signed the document to which this certificate is attac hed, and not the truthfulness, accuracy, or validity of that document. State of California County of_ San Francisco On September 07 , 2018 before me, -�□;,--=a�ra�T-:---c-o=uc=h�,�N�o=t;"'a:::ry�P�u:=b,;-lic"---=--,-----(insert name and title of the officer) personally appeared ---'-R:"a�c':'h�e�l:-'-P�o '-: rt�e�r-:-:--;--:---:-:-----,----,-------,;--------,---,----,--------who proved to me on the basis of satisfactory evidence to be the pe rsonfst whose namefst isi'afe subscribed to the within instrument and acknowledged to me th at RelsheAAey executed the same in flis,,'herltlleif aut horized capacityfiest, and that by--A-is,lhefl#leif signaturefst on the instrument the person{s},-or the entity upon behalf of which the personfst acted, executed the instrument. I c ertify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature _ ___:/j=---_,.,,.,_� --+--:::.""c::..__,l,c::__:::,_� __ _(Seal) DARA TOUCH Notary Public -'cau.tornia !fl San Francis.co County j Commission# 2159426 !: My Comm. Expires Jul 9, 2020 FAITHFUL PERFORMANCE BOND EXECUTION COPY BOND NUMBER: 0748728 PREMIUM: $61,085 WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SUMMERHILL N40 LLC (herein designated as "Principal") have entered an agreement by which Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, said Principal is required under the terms of the Subdivision Improvement Agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the Principal and INTERNATIONAL FIDELITY INDEMNITY COMPANY, as Surety, are held and firmly bound unto the Town, in the penal sum of six million, four hundred and thirty thousand ($6,430,000) 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, formally by these presents. The condition of this obligation is such that if the above bounded Principal, 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 Subdivision Improvement 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 Town, its officers, agents and employees, as therein stipulated, and this obligation shall become null and void; otherwise it shall be and remain in full force and effect. Principal and Surety further agree that, upon Town's final approval of the work, ten percent (10%) of this bond shall remain in effect to guarantee the repair and/or replacement of defective materials and/or construction, one (1) year after Town's final acceptance of the work, unless Principal posts a separate warranty bond instead. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by Town in successfully enforcing such obligation, all to be taxed as costs and included in any judgement 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 specifications accompanying the same shall in any way 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 Subdivision Improvement Agreement or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on September 7th, 2018. PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager By: C ;; . /. jorie L. s� By: Its: /2t)() ---- SMHH\54443\1441213.9 2 SURETY: INTERNATIONAL FIDELITY INDEMNITY COMPANY By: Its: Rachel A Portger Attorney-In-Fact 2999 Oak Rd. #820 (Address] Walnut Creek CA 94597 [City, State, ZIP] EXECUTION COPY 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 CaliforniaA ..1-.r /I -L County of { IJn; ru_.t. t).5 I t:A-- On !:/epl-: JI)/ ZlJ J) , before me, d'.1 -te, neg{ ·, a_ Notary _Public, personallyappeared /1'Uw-7Pr r C $:t,. !z> , who proved to me on the basis of satisfactory evidenceto be the person(� whose name(-s) is/= subscribed to the within instrument and acknowledged to me that be/she/!Aey executed the same in �/her/tlaeir authorized capacity(-i@sj, and that by Ris/her/tl..lir signature(.;.) on the instrument the person(.:.), or the entity upon behalf of which the person(sr 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. Signature lmeeczeeeeeeeef M. RINETTI _ __ .... , .. . Not,1ry P. ub. lic -California 2 :2 �� Contra Cost• County � -" � · .. :· Comm1ss1cn :r/. 2220824 - My Comm. Expires Nov 5. 2021 A notary public or other officer completing this ce1tificate 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// -"'-�-A. .LCounty of L1n1 • p(__ LO.ST"<-- ,(/1 · ,e,, nell, On Zell 1 , before me, 7J\Ud 1� ,6.,., f!>'C.,. , a Notary Public, personallyappeared ' '"),/,g,-who pro d to me on the basis of satisfactory evidenceto be the person(s}whose name( is/ai:e subscribed to the within instrument and acknowledged to me that he/sl:le/tl'ley executed the same in his/her41:leiF authorized capacity(ies), and that by hi�lherttheir signature(s.) on the instrument the person(sl, or the entity upon behalf of which the person(s1--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. Signature '-7r; -¥� SMHH\54443\1441213.9 1 LABOR AND MATERIALS BOND BOND NUMBER: 0748728 PREMIUM: Included WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SummerHill N40 LLC (hereinafter designated as "Principal") have entered an agreement whereby Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, under the terms of the Subdivision Improvement Agreement, Principal is required, before entering upon the performance of the work, to file a good and sufficient payment bond with the Town 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 the undersigned as Corporate Surety are held firmly bound unto the Town and all contractors, subcontractors, laborers, material suppliers and other persons employed in the performance of the Subdivision Improvement Agreement and referred to in the aforesaid Civil Code in the sum of six million, four hundred and thirty thousand ($6,430,000) 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 herein above 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 Town in successfully enforcing such 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 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. The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Subdivision Improvement 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 September 7th, 2018. 1 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager ( 4.:f&,s.o By: Senior Vice President By: f��� I � Ji SMHH\54443\1441213.9 SURETY: IN,�ELITY INDEMNITY COMPANY By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 .[City, State, ZIP] 2 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 Califo3a (j _J. Gou nty of 1>ftc., tz.SfA.___,. On �h lo / 2o JJ , before me, )YI • ;€, ,,, e lh . a Notary Public, personally appeare /12/4 �, c.. who proved to me on the basis of satisfactory evidence to be the person(.& hose name(&) is/a... subscribed to the within instrument and acknowledged to me that be/she/tl:+@y executed the same in hl£/her/t�ir authorized capacity(.ieaj,. and that by l:!i!;/her/tl¾,.j;signature(s-) on the instrument the person(&), or the entity upon behalf of which the person(s.). acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature�•� J:reeeer-eeereem: .. .... M. RINETTI •@"�'. · NotaN Public - California � i i�< �? Co�tra Costa County i � ... , . Commission # 2220824 � My Comm. Expires Nov 5, 2021 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 Californn -1 _. A _,. County of 11·rr<'L CdS ,.....__ On --"'""c:i�-'--'-"'+<"""�i'-' before me, /rl .;e_, �e_ /4 ,a Notary Public, personally appearea ,.s /l. 6,.,.-, who proved to rne on the basis of satisfactory evidenceto be the person(st whose name(.;;) is/ subscribed to the within instrument and acknowledged to me that he/sl,e,'lhey executed the same in his/�ir authorized capacity(ies), and that by his/h�r signature(-&) on the instrument the person(s), or the entity upon behalf of which the person(&) acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature SMHH\54443\1441213.9 e e e e e r O e 0 M. RINETTI f Notary Public -Caiifornia Contra Costa Coumv f Commissior: � 22208.24 My Comm. Expires Nov 5. 2021 September 7, 2018 POWER OF ATTORNEY INTERNATIONAL FIDELITY INSURANCE COMPANY ALLEGHENY CASUAL TY COMPANY Bond# One Newark Center, 20th Floor, Newark, New Jersey 07102-5207 PHONE: (973) 624-7200 0748728 KNOW ALL MEN BY THESE PRESENTS: That INTERNATIONAL FIDELITY INSURANCE COMPANY, a corporation organized and existing under the raws of the State of New Jersey, and ALLEGHENY CASUAL TY COMPANY a corporation organized and existing under the laws of the State of New Jersey, having their principal office in the City of Newark, New Jersey, do hereby constitute and appoint IVAN M. MAROEVICH, JR., RACHEL A. PORTER, WILLIAM R. GRINDELL, VALERIE D. WILLIAMS-COLE PAUL F. PERLITE. San Francisco, CA. their true and lawful attorney(s)-in-fact to execute, seal and deliver for and on its behalf as surety, any and all bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be allowed, required or permitted by law, statute, rule, regulation, contract or otherwise, and the execution of such instrument(s) in pursuance of these presents, shall be as binding upon the said INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY, as fully and amply, to all lntents and purposes, as if the same had been duly executed and acknowledged by their regularly elected officers at their principal offices. This Power of Attorney is executed, and may be revoked, pursuant to and by authority of the By-Laws of INTERNATIONAL FIDELITY INSURANCECOMPANY and ALLEGHENY CASUALTY COMPANY and is granted under and by authority of the following resolution adopted by the Board ofDirectors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting duly held on the 2oth day of July, 2010 and by the Board of Directors of ALLEGHENY CASUAL TY COMPANY at a meeting duly held on the 10th day of July, 2015 "RESOLVED, that (1) the Chief Executive Officer, President, Executive Vice President, Vice President, or Secretary of the Corporation shall have the power to appoint, and to revoke the appointments of, Attorneys-in-Fact or agents with power and authority as defined or limited in their respective powers of attorney, and to execute on behalf of the Corporation and affix the Corporation's seal thereto, bonds, undertakings, recognizances, contracts of indemnity and other written obligations in the nature thereof or re!ated thereto; and (2) any such Officers of the Corporation may appoint and revoke the appointments of joint-control custodians, agents for acceptance of process, and Attorneys-in-fact with authority to execute waivers and consents on behalf of the Corporation; and (3) the signature of any such Officer of the Corporation and the Corporation's seal may be Elffixed by facsimile t0 any power of attorney or certification given for the execution of any bond, undertaking, recognizance, contract of indemnity or other written obligation in the nature thereof or related thereto, such signature and seals when so used whether heretofore or hereafter, being hereby adopted by the Corporation as the original signature of such officer and the original seat of the Corporation, to be valid and binding upon the Corporation with the same force and effect asthough manually affixed." IN WITNESS WHEREOF, INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUALTY COMPANY have each executed and attested these presents on this 31st day of December, 2016 STATE OF NEW JERSEY County of Essex George R. James Executive Vice President (International Fidelity Insurance Company) and Vice President (Allegheny Casualty Company) On this 31st day of December, 2016 , before me.came the individual who executed the preceding instrument, to me personally known, and, being by me duly sworn, said he is the therein described and authorized officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and of ALLEGHENY CASUAL TY COMPANY; that the seals affixed to said instrument are the Corporate Seals of said Companies; that the said Corporate Seals and his signature were duly affixed by order of the Boards of Directors of said Companies. IN TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal, at the City of Newark, New Jersey the day and year first above written. CERTIFICATION Cathy Cruz a Notary Public of New Jersey My Commission Expires April 1.6, 2019 I, the undersigned officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUALTY COMPANY do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Sections of the By-Laws of said Companies as set forth in said Power of Attorney, with the originals on file in the home of said companies, 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. IN TESTIMONY WHEREOF,! have hereunto set my hand on this day, A00436/MOC Insurance Services. Maria H. Branco, Assistant Secretary 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 Francisco On September 07 • 2018 before rne, ------;Dc--a=r=a'-cT�o=u=c=h=·�N�o�tc"a�ryc..c...Pc;u"':blc-'ic"----=--,----(insert name and title of the officer) personally appeared ...,R:"a=c':'h�e�l:-'P_,o'-:rt�e�r-::---:--:---:---:-----,------,--cc-------,---,--,--------who proved to me on the basis of satisfac tory evidence to be the personw whose namew ist'afe subscribed to the within instrument and acknowledged to me that fl6i'shel#\ey executed the same in flislherl#leif authorized capacityfiesh and that by-hls!hefltRe.if signaturew on the instrument the personfst, or the entity upon be half of whic h the personw acted, executed the instrument. I certify under PENAL TY OF PER JUR Y under the laws of the State of California that the foregoing paragraph is true and correct. WITN ESS my hand and official seal. Signature __ J_.....-_L-+--u�.J.--�------(Seal) FAITHFUL PERFORMANCE BOND EXECUTION COPY BOND NUMBER: 0748729 PREMIUM: $6,745 WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SUMMERHILL N40 LLC (herein designated as "Principal") have entered an agreement by which Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and m.,de a part hereof; and WHEREAS, said Principal is required under the terms of the Subdivision Improvement Agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the Principal and INTERNATIONAL FIDELITY INDEMNITY COMPANY, as Surety, are held and firmly bound unto the Town, in the penal sum of seven hundred and ten thousand ($710,000) 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, formally by these presents. The condition of this obligation is such that if the above bounded Principal, 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 Subdivision Improvement 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 Town, its officers, agents and employees, as therein stipulated, and this obligation shall become null and void; otherwise it shall be and remain in full force and effect. Principal and Surety further agree that, upon Town's final approval of the work, ten percent (10%) of this bond shall remain in effect to guarantee the repair and/or replacement of defective materials and/or construction, one (1) year after Town's final acceptance of the work, unless Principal posts a separate warranty bond instead. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by Town in successfully enforcing such obligation, all to be taxed as costs and included in any judgement 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 specifications accompanying the same shall in any way 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 Subdivision Improvement Agreement or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on September 7th, 2018. SMHH\54443\1441213.9 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager By: / lts:+-/--H--ll--------- By: 2 SURETY: IN�IDELITY INDEMNITY COMPANY By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 [City, State, ZIP] EXECUTION COPY 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 U ,ir'r--,._. On W /tJ Vlj , before rne, ,41, K,ke/1..,; ·. a Notary Public, personally appeared ¼;;-; T?Jrn:: $2.-1--,;, , who proved to me on the basis of satisfactory evidence to be the person(s) whk name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/tRey executed the same in his/her/tooir authorized capacity(i06}-, and that by hislher/tli-eir signature(s) on the instrument the personfs), or the entity upon behalf of which the person(-st 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. Signature M. RINETTI Ncrarv Public -California z ., � Contra Cost� County Commission � 2220S24 My Comm, E�pires Nov 5. 2021 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 Californi?, A -L County of l.On-frtL LlJ,£,lt:,<._.., On -=cc..e'----'--'-'-h-F=�-· beforp vie, f>1 • '1!:, ·.,chi·, a Notary Public, personally appeared YI S rt-el h.6 ,Ir who proved to me on the basis of satisfactory evidence to be the person(-s) whose name s-) is/ai:,, subscribed to the within instrument and acknowledged to me that heh,l:i@ltl:l"'-1/ executed the same in his/h�ir authorized capacity(iest, and that by his/�r signaturet,s) on the instrument the person(sj', or the entity upon behalf of which the person(sl-,acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature SMHH\5444311441213.9 �oeeeeeeeeeee� M. RINETTI : .. -Notary Public-California , f · Contra Costa Cou�ty � J <e,-,.,:;-,v I Commission : 2220824 - 't My Comm. Expires Nov 5. 2021 LABOR AND MATERIALS BOND EXECUTION COPY BOND NUMBER: 0748729 PREMIUM: Included WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SummerHill N40 LLC (hereinafter designated as "Principal") have entered an agreement whereby Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, under the terms of the Subdivision Improvement Agreement, Principal is required, before entering upon the performance of the work, to file a good and sufficient payment bond with the Town 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 the undersigned as Corporate Surety are held firmly bound unto the Town and all contractors, subcontractors, laborers, material suppliers and other persons employed in the performance of the Subdivision Improvement Agreement and referred to in the aforesaid Civil Code in the sum of seven hundred and ten thousand ($710,000) 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 herein above 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 Town in successfully enforcing such 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 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 suitbrought 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. The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Subdivision Improvement 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 September 7th, 2018. SMHH\54443\1441213.9 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager By: By: SMHH\54443\1441213.9 2 SURETY: INTERI\JATIONAL FIDELITY INDEMNITY COMPANY By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 [City, State, ZIP] A notary public or other officer completing this certificate verifies only the identity of the individual who signed thedocument to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California AJ -�-'County of l'.'.}n-'fy--,;. CO�) ) On __;,��C4pe&'.!...1.__ /h. • K:..rrJ.ct/2 •, a Notary Public, personallyappearea r c who proved to me on the basis of satisfactory evidence to be the person(s) hose name(.&) is/o!f6 subscribed to the within instrument and acknowledged to me that he-lshe/tb.ey executed the same in Ris/her/toor authorized capacityfiesh-and that by h-ie/her/tl.w signature(st on the instrument the person(st, or the entity upon behalf of which the person{&) acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature�-� e :e e e e e e e *lM. RINETTINotary Public -California :Contra Ccs!.s Courity §; Commission '1 2220824 - My Comm, E�pires Nov 5. 2021 A notary public or other officer completing this ce11ificate verifies only the identity of the individual who signed the document to which this certificate is attached, aod not the truthfulness, accuracy, or validity of that document. State of Califort'.3County of nfr� On �./. 1(), 2JtJ , beforJ;l me,/71 · /-(,h c. /1, · , a Notary Public, personallyappearei:i ZVAn:s: t1e:Ji,/2 bc,c/, who proved to me on the basis of satisfactory evidence to be the person(-&) whose na(.-) is/are subscribed to the within instrument and acknowledged to me that he/sbelthey executed the same in his/R-9-Fltl:leir authorized capacity(ieaj,. and that by his/�ir signaturefs) on the instrument the personfs), 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. Signature '----Jn · fd6= SMHH\54443\1441213.9 September 7, 2018 POWER OF ATTORNEY INTERNATIONAL FIDELITY INSURANCE COMPANY ALLEGHENY CASUAL TY COMPANY Bond# One Newark Center, 20th Floor, Newark, New Jersey 07102-5207 PHONE: (973) 624-7200 0748729 KNOW ALL MEN BY THESE PRESENTS: That INTERNATIONAL FIDELITY INSURANCE COMPANY, a corporation organized and existing under the Jaws of the State of New Jersey, and ALLEGHENY CASUAL TY COMPANY a corporation organized and existing under the laws of the State of New Jersey, having their principal office in the City of Newark, New Jersey, do hereby constitute and appoint IVAN M. MAROEVICH, JR., RACHEL A. PORTER, WILLIAM R. GRINDELL, VALERIE D. WILLIAMS-COLE PAUL F. PERLITE. San Francisco, CA their true and lawful attomey(s)-in-fact to execute, seal and deliver for and on its behalf as surety, any and all bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be allowed, required or permitted by law, statute, rule, regulation, contract or otherwise, and the execution of such instrument(s) in pursuance of these presents, shall be as binding upon the said INTERNATIONAL FIDELITYINSURANCE COMPANY and ALLEGHENY CASUALTY COMPANY, as fully and amply, to all intents and purposes, as if the same had been duly executed and acknowledged by their regularly elected officers at their principal offices. This Power of Attorney is executed, and may be revoked, pursuant to and by authority of the By-Laws of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY and is granted under and by authority of the following resolution adopted by the Board ofDirectors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting duly held on the 20th day of July, 2010 and by the Board ofDirectors of ALLEGHENY CASUAL TY COMPANY at a meeting duly held on the 10th day of July, 2015 "RESOLVED, that (1) the Chief Executive Officer, President, Executive Vice President, Vice President, or Secretary of the Corporation shall have the power to appoint, and to revoke the appointments of, Attorneys-in-Fact or agents with power and authority as defined or limited in their respective powers of attorney, and to execute on behalf of the Corporation and affix the Corporation's seal thereto, bonds, undertakings, recognizances, contracts of indemnity and other written obligations in the nature thereof or related thereto; and (2) any such Officers of the Corporation may appoint and revoke the appointments of joint-control custodians, agents for acceptance of process, and Attorneys-in-fact with authority to execute waivers and consents on behalf of the Corporation; and (3) the signature of any such Officer of the Corporation and the Corporation's seal may be affixed by facsimile to any power of attorney or certification given for the execution of any bond, undertaking, recognizance, contract of indemnity or other written obligation in the nature thereof or related thereto, such signature and seals when so used whether heretofore or hereafter, being hereby adopted by the Corporation as the original signature of such officer and the original seal of the Corporation, to be valid and binding upon the Corporation with the same force and effect as though manually affixed." IN WITNESS WHEREOF. INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY have each executed and attested these presents on this 31st day of December, 2016 STATE OF NEW JERSEY County of Essex George R. James Executive Vice President (International Fidelity Insurance Company) and Vice President (Allegheny Casualty Company) On this 31st day of December, 2016 , before me came the individual who executed the preceding instrument, to me personally known, and,being by me duly sworn, said he is the therein described and authorized officer of INTERNATIONAL FIDELITY INSURANCE COMPANY andof ALLEGHENY CASUAL TY COMPANY; that the seals affixed to said instrument are the Corporate Seals of said Companies; that the said CorporateSeals and his signature were duly affixed by order of the Boards of Directors of said Companies. IN TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal, at the City of Newark, New Jersey the day and year first above written. CERTIFICATION Cathy Cruz a Notary Public of New Jersey My Commission Expires April 16, 2019 I, the undersigned officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Sections of the By-Laws of said Companies as set forth in said Power of Attorney, with the originals on file in the home of said companies, and that the same are correct transcripts thereof, and of the whole of thesaid originals, and that the said Power of Attorney has not been revoked and is now in full force and effect. IN TESTIMONY WHEREOF, I have hereunto set my hand on this day, A00436/MOC Insurance Services. Maria H. Branco, Assistant Secretary 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 docum ent. State of California County of_ San Francisco On September 07 , 2018 before me, _ _,D""'a"'r--"a'-cT'--'o"-'u"-'c�h'", _,_N"o,.,t"'a':'rye._P'--"cub""l"°ic'----------(insert name and title of the officer) personally appeared _,_R-"a"-'c'-'-h'-'e'-'-I..,_P_,o'-'-rt-"'e'-'-r---,----,------------,------------,---,-----------who proved to me on the basis of satisfactory evidence to be the personw whose namew isi'afe subscribed to the within instrument and acknowledged to me that Retshel#ley executed the same in flistherl#leif authorized capacityfies}, and that by--Ais,'hefAAB.if signaturew on the instrument the person{s), or the entity upon behalf of which the personw acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature __ ____::(j:::._,..__j../..:!..:.J�=�-=----(Seal) ·.DARA TOUCH � ;) .. ·.. Notary Pu.blic. California i '! .,;) San Francisco County � z r::omm1ss1on # 2159426 � � "c•. •·1: ·:r,,,.,.,., ri<p1res Jul 9, 2020 � O©OY�,..,,�4 t 4@&$ FAITHFUL PERFORMANCE BOND BOND NUMBER: 0748730 PREMIUM: $18,411 WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SUMMERHILL N40 LLC (herein designated as "Principal") have entered an agreement by which Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, said Principal is required under the terms of the Subdivision Improvement Agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the Principal and INTERNATIONAL FIDELITY INDEMNITY COMPANY, as Surety, are held and firmly bound unto the Town, in the penal sum of one million, nine hundred and thirty-eight thousand ($1,938,000) 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, formally by these presents. The condition of this obligation is such that if the above bounded Principal, 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 Subdivision Improvement 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 Town, its officers, agents and employees, as therein stipulated, and this obligation shall become null and void; otherwise it shall be and remain in full force and effect. Principal and Surety further agree that, upon Town's final approval of the work, ten percent (10%) of this bond shall remain in effect to guarantee the repair and/or replacement of defective materials and/or construction, one (1) year after Town's final acceptance of the work, unless Principal posts a separate warranty bond instead. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by Town in successfully enforcing such obligation, all to be taxed as costs and included in any judgement rendered. The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the agreemenfor to the work to be performed thereunder or the specifications accompanying the same shall in any way 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 Subdivision Improvement Agreement or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on September 7th, 2018. 1 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Hornes LLC, a California limited liability company Its Manager By: By: Its: SMHH\54443\1441213.9 2 SURETY: INTERNATIONAt FIDELITY INDEMNITY COMPANY By: Its: Rachel A Portger Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 [City, State, ZIP] EXECUTION COPY 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 /P -ICounty of tb� Las•� On I) /11-�,;.,,_;;;. a Notary Public, personally appeare ,,..,· , who proved to me on the basis of satisfactory evidence to be the person(,stwho e name(,;) is/ai:., subscribed to the within instrument and acknowledged to me that b,,,lshe/tl.ey executed the same in Ftis/her/tt;i,.ir authorized capacity(i.;aj,. and that by hislher/their signature(s-) on the instrument the person('3), or the entity upon behalf of which the person(,8 acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature �� J c e e e @ e e e o e e e � • M.RINETTI : Notary Public -California 2 � Contra Ccsia Cou.--:?.t � z ' . -Comm1ssron # 2220824 MY Comm. Expires Nov 5. 2021 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 /l _ County of tJ ,.,-fr,._, UJ'6 _, On :Q-p& Jq. UI j , befor1; me, /i'1. r<,h e/1, , a_ Notary Public, personallyappeared zi,t,,.,;r ne..rrkhe!✓ , who proved to me on the basis of satisfactory evidence to be the person(aj-whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/sAe/1I,ey executed the same in his/�ir authorized capacity(�). and that by his/b.e.c.fili.eir signature(s) on the instrument the person(sl, 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. Signature � · � , SMHH\54443\1441213.9 LABOR AND MATERIALS BOND EXECUTION COPY BOND NUMBER: 0748730 PREMIUM: Included WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SummerHill N40 LLC (hereinafter designated as "Principal") have entered an agreement whereby Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, under the terms of the Subdivision Improvement Agreement, Principal is required, before entering upon the performance of the work, to file a good and sufficient payment bond with the Town to secure the claims to which reference is made in Title 15 (commencing with Section 3082) of Part 4 ofDivision 3 of the Civil Code of the State of California; NOW, THEREFORE, said Principal and the undersigned as Corporate Surety are held firmly bound unto the Town and all contractors, subcontractors, laborers, material suppliers and other persons employed in the performance of the Subdivision Improvement Agreement and referred to in the aforesaid Civil Code in the sum of one million, nine hundred and thirty-eight thousand ($1,938,000) 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 herein above 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 Town in successfully enforcing such 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 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. The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Subdivision Improvement 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 September 7th, 2018. SMHH\54443\1441213.9 1 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Marjorie L. Szto By: 2 SURETY: IN�DELITY INDEMNITY COMPANY By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 [City, State, ZIP] 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 �r f County of (b,,,-ti--,,___ �n.-)) On � 10, 2.DI�, before me,fJ-1' K-, hz::/1. ·, a_ Notary _Public, personallyappearea ;?l,uer• C ::52,:h:, , who proved to me on the basrs of satisfactory evidenceto be the person(97 hose name(sl is/are subscribed to the within instrument and acknowledged to me thatRB/she/tl>e3/ executed the same in ftis/her/tb€ir authorized capacity(J@s}, and that by hi&lher/tooirsignature(,.) on the instrument the person{sj, or the entity upon behalf of which the person(sJ. acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoingparagraph is true and correct. WITNESS my hand and official seal. Signature � · � eeeeeee?:�M.RINETTINola� Pcblic-California z Contra Costa County � Commission# 2220824 - My Comm. Expires Nov 5. 2021 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 Califowia ,, -I, County of {.�,-,-f-r---1<-cos "'---, On �f 10, C-()f'j , before mi,, 111 -�>?Ll54 · a Notary Public, personallyappeared r ('.'A.,.-,-s /?e I f;A-htl✓ , who proved to me on the basis of satisfactory evidence to be the person(-srwhose name(&) is/are subscribed to the within instrument and acknowledged to me thathe/s4e.l1Aey executed the same in his/�ir authorized capacity(i....J-, and that by his/�eirsignature(sj-on the instrument the personfs-), or the entity upon behalf of which the person{;,) acted,executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoingparagraph is true and correct. WITNESS my hand and official seal. Signature '---?'J?. � SMHH\54443\1441213.9 ,•eeeeeeeeeeee-�• M. RINETTI " ....: .... . Notary Public-Caliiomia z i]:·-Contra Costa County f . Commission # 2220824 .... My Comm. Expires Nov 5, 2021 September 7, 2018 POWER OF ATTORNEY INTERNATIONAL FIDELITY INSURANCE COMPANY ALLEGHENY CASUALTY COMPANY Bond# 0748730 -------- One Newark Center, 20th Floor, Newark, New Jersey 07102-5207 PHONE: (973) 624-7200 KNOW ALL MEN BY THESE PRESENTS: That INTERNATIONAL FIDELITY INSURANCE COMPANY, a corporation organized and existing under thelaws of the State of New Jersey, and ALLEGHENY CASUAL TY COMPANY a corporation organized and existing under the laws of the State of NewJersey, having their principal office in the City of Newark, New Jersey, do hereby constitute and appoint IVAN M. MAROEVICH, JR., RACHEL A. PORTER, WILLIAM R. GRINDELL, VALERIE D. WILLIAMS-COLE PAUL F. PERLITE. San Francisco, CA. their true and lawful attorney(s)-in-fact to execute, seal and deliver for and on its behalf as surety, any and all bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be allowed, required or permitted by law, statute, rule, regulation, contract or other.vise, and the execution of such instrument(s) in pursuance of these presents, shall be as binding upon the said INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY, as fully and amply, to all intents and purposes, as if the same had been dulyexecuted and acknowledged by their regularly elected officers at their principal offices. This Power of Attorney is executed, and may be revoked, pursuant to and by authority of the By-Laws of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY and is granted under and by authority of the following resolution adopted by the Board of Directors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting duly held on the 20th day of July, 2010 and by the Board of Directors of ALLEGHENY CASUAL TY COMPANY at a meeting duly held on the 10th day of July, 2015 "RESOLVED, that (1) the Chief Executive Officer, President, Executive Vice President, Vice President, or Secretary of the Corporation shall have the power to appoint, and to revoke the appointments of, Attorneys-in-Fact or agents with power and authority as defined or limited in their respective powers of attorney, and to execute on behalf of the Corporation and affix the Corporation's seal thereto, bonds, undertakings, recognizances, contracts of indemnity and other written obligations in the nature thereof or related thereto; and (2) any such Officers of the Corporation may appoint and revoke the appointments of joint-control custodians, agents for acceptance of process, and Attorneys-in-fact with authority to execute waivers and consents onbehalf of the Corporation; and (3) the signature of any such Officer of the Corporation and the Corporation's seal may be affixed by facsimile to any power of attorney or certification given for the execution of any bond, undertaking, recognizance, contract of indemnity or other written obligation in the nature thereof or related thereto, such signature and seats when so used whether heretofore or hereafter, being hereby adopted by the Corporation as theoriginal signature of such officer and the original seal of the Corporation, to be valid and binding upon the Corporation With the same force and effect asthough manually affixed." IN WITNESS WHEREOF, INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUALTY COMPANY have each executed and attested these presents on this 31st day of December, 2016 STATE OF NEW JERSEY County of Essex George R. James Executive Vice President (International Fidelity Insurance Company) and Vice President (Allegheny Casualty Company) On this 31st day of December,. 2016 , before me came .the individual who executed the preceding instrument, to me personally known, and, being by me duly sworn, said he is the therein described and authorized officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and of ALLEGHENY CASUAL TY COMPANY; that the seals affixed to said instrument are the Corporate Seals of said Companies; that the said CorporateSeals and his signature were duly affixed by order of the Boards of Directors of said Companies. IN TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal, at the City of Newark, New Jersey the day and year first above written. CERTIFICATION Cathy Cruz a Notary Public of New Jersey My Commission Expires April 16, 2019 I, the undersigned officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Sections of the By-Laws of said Companies as set forth in said Power of Attorney, with the originals on file in the home of said companies, 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. IN TESTIMONY WHEREOF, I have hereunto set my hand on this day, A00436/MOC Insurance Services. Maria H. Branco, Assistant Secretary ACKNOWLEDGMENT A nota ry public or other office r completing this certificate verifies only the identity of the individua l 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 Francisco On September 07 , 2018 ) before me, _ ___,D=ar'--"a'--T_,_o,,_u,,_c"'h-'-',----'N_,_o""t"'a":-ryL.!...P_,,u""b"'-lic"'---------(insert name a nd title of the officer) personally appeared __,R-'a,,_c,,,hc.,e"'l-'P-'o"'r-"te"'r'-------------:-------,-----------who proved to me on the basis of satisfactory evidence to be the personfsj whose namefsj istafe subscribed to the within instrument and acknowledged to me that he,lshelthey executed the same in 11iB+herl#ieif authorized capa cityfies), and that by-flis.Jhefi.ll'leif signaturefsj on the instrument the personfst, or the entity upon behalf of which the personfsj a cted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature ___ L)_._ __ -(:--"----.,_J__---=--------(Seal) FAITHFUL PERFORMANCE BOND BOND NUMBER: 0748731 PREMIUM: $30,989 WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SUMMERHILL N40 LLC (herein designated as "Principal") have entered an agreement by which Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, said Principal is required under the terms of the Subdivision Improvement Agreement to furnish a bond for the faithful performance of said agreement NOW, THEREFORE, we, the Principal and INTERNATIONAL FIDELITY INDEMNITY COMPANY, as Surety, are held and firmly bound unto the Town, in the penal sum of three million, two hundred and sixty-two thousand ($3,262,000) 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, formally by these presents. The condition of this obligation is such that if the above bounded Principal, 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 Subdivision Improvement Agreement and any alteration thereof made as therein provided, on his or their part, to be kept and performed at the lime and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless Town, its officers, agents and employees, as therein stipulated, and this obligation shall become null and void; otherwise it shall be and remain in full force and effect. Principal and Surety further agree that, upon Town's final approval of the work, ten percent (10%) of this bond shall remain in effect to guarantee the repair and/or replacement of defective materials and/or construction, one (1) year after Town's final acceptance of the work, unless Principal posts a separate warranty bond instead. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by Town in successfully enforcing such obligation, all to be taxed as costs and included in any judgement 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 specifications accompanying the same shall in any way 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 Subdivision Improvement Agreement or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on September 7th, 2018. 1 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager By: fJOflC L. Szto By: SMHH\54443\1441213.9 2 SURETY: By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 [City, State, ZIP] EXECUTION COPY 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 Californi51 County of {.fJ /l-rl?:- On � -fJ, ZtJ fP . before me, /J7 · �hul/2 ', a_ Notary Public, personallyappeared ,,-n,.,,..p ,r 17:, 5�7il , who proved to me on the bas rs of satisfactory evidence to be the person(31 whose name(-s) is/are subscribed to the within instrument and acknowledged to me that ke/she/ti:u,y executed the same in h+s/her/tlreir authorized capacit�). and that by ftis/her/their signature(s) on the instrument the person(s), 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. Signature � · � · � @ e e e e e e e e e e: a1 __ M RINETTI "-·�-. NotaryPubiic-Califomia : :f �}-(// Contra Cos� Count'j � z :, __ �-Commission� 2220824 � My Comm. Expires f'lov 5, 2021 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 Californ_iij -L--/1 _ .ICounty of Cd"7' � L� On . ;i) m.K, he fl-z'' a Notary Public, personally appear d _ _j���__.!.f,,,;!:l-\.il'=l�----,--� who proved to me on the basis of satisfactory evidenceto be the person{s) whose na (s) is/are subscribed to the within instrument and acknowledged to me that hc/sl:lellhey executed the same in his/herAReir authorized capacity(.J.l&}, and that by his/oor:AAeir signaturets) on the instrument the persort{s), or the entity upon behalf of which the person(s+ acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. ( Signature A-�..&' SMHH\54443\1441213.9 1 M.RINETTINotary Public-California z Contra Ccsta Coun� � Commission# 2220824 My Comm. E.xpir�s No11 5. 2021 LABOR AND MATERIALS BOND BOND NUMBER: 0748731 PREMIUM: Included WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SummerHill N40 LLC (hereinafter designated as "Principal") have entered an agreement whereby Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, under the terms of the Subdivision Improvement Agreement, Principal is required, before entering upon the performance of the work, to file a good and sufficient payment bond with the Town 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 the undersigned as Corporate Surety are held firmly bound unto the Town and all contractors, subcontractors, laborers, material suppliers and other persons employed in the performance of the Subdivision Improvement Agreement and referred lo in the aforesaid Civil Code in the sum of three million, two hundred and sixty-two thousand ($3,262,000) 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 sarne in an amount not exceeding the amount _herein above set forth, and also in case suit is brought upon this bond, will pay, in addition lo the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by the Town in successfully enforcing such obligation, to be awarded and fixed by the court, and lo 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 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. The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Subdivision Improvement 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 September 7th, 2018. 1 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager By: Its: By: Its: 2 SURETY: INT ATIONAL FIDELITY INDEMNITY COMPANY By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 (Address] Walnut Creek CA 94597 [City, State, ZIP] A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which !bis certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of Californ!f County of t� efrCL,, On 3epi-:lrJ / 21;1) , before me,[YI· �nc#c ·, a_ Notary Public, personallyappeared �,.,./ -e 52.,,'fe , who proved to me on the basis of satisfactory evidenceto be the person(-s)whse name(-stis/ar-e--subscribed to the within instrument and acknowledged to me that i'te/she/tl:iey executed the same in Ai&/her/tAeif authorized capacity(ies), and that by his/her/theifsignature,_(s) on the instrument the person(s), or the entity upon behalf of which the person\S) acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature eeeeeeeel M. RINETTI Neta� Public-Calilornia z Col"lir2 Ccsta County $ Commission ;; 2220824 - My Comm. Expires Nov 5, 2021 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 CaliforQia +, County of {J)r, r,z On �//), �i'y , before. m,e, /?1 · !Ci:O e ¢_ · , a Notary Public, personally appeared '½/4id �,{ W;/' , who proved to me on the basis of satisfactory evidenceto be the person('S) whose name(s)i7are-subscribed to the within instrument and acknowledged to me that hB/she/U,ey executed the same in +,is/her/their authorized capacit� and that by ms/her/t/-;eifsignature\S) on the instrument the person(BJ, or the entity upon behalf of which the person(sj-acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature � ' �)--' SMHH\54443\1441213.9 eneeeeeeeeeef M. RINETTI � --· · _ .. _ _ Nola� Public-California : � _ · _:·-Contra Costa (;ounty :: :z · .. Commission# 2220824 · My Comm. Expires Nov 5. 2021 September 7, 2018 POWER OF ATTORNEY INTERNATIONAL FIDELITY INSURANCE COMPANY ALLEGHENY CASUAL TY COMPANY Bond# One Newark Center, 20th Floor, Newark, New Jersey 07102-5207 PHONE: (973) 624-7200 0748731 KNOW ALL MEN BY THESE PRESENTS: That INTERNATIONAL FIDELITY INSURANCE COMPANY, a corporation organized and existing under the !aws of the State of New Jersey, and ALLEGHENY CASUAL TY COMPANY a corporation organized and existing under the laws of the State of NewJersey, having their principal office in the City of Newark, New Jersey, do hereby constitute and appoint IVAN M. MAROEVICH, JR., RACHEL A. PORTER, WILLIAM R. GRINDELL, VALERIE D. WILLIAMS-COLE PAUL F. PERLITE. San Francisco, CA. their true and lawful attomey{s)-in-fact to execute, seat and deliver for and on its behalf as surety, any and all bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be allowed, required or permitted by law, statute, rule, regulation, contract or otherwise, and the execution of such instrument(s) in pursuance of these presents, shall be as binding upon the said INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUALTY COMPANY, as fully and amply, to all intents and purposes, as if the same had been du!y executed and acknowledged by their regularly elected officers at their principal offices. This Power of Attorney is executed, and may be revoked, pursuant to and by authority of the By-Laws of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUALTY COMPANY and is granted under and by authority of the foHowing resolution adopted by the Board of Directors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting duly held on the 2oth day of July, 2010 and by the Board of Directors of ALLEGHENY CASUALTY COMPANY at a meeting duly held on the 10th day of July, 2015 "RESOLVED, that (1) the Chief Executive Officer, President, Executive Vice President, Vice President, or Secretary of the Corporation shall have the power to appoint, and to revoke the appointments of, Attorneys-in-Fact or agents with power and authority as defined or limited in their respective powers of attorney, and to execute on behalf of the Corporation and affix the Corporation's seal thereto, bonds, undertakings, recognizances, contracts of indemnity and other written obligations in the nature thereof or related thereto; and (2) any such Officers of the Corporation may appoint and revoke the appointments of joint-control custodians, agents for acceptance of process, and Attorneys-in-fact with authority to execute waivers and consents on behalf of the Corporation; and (3) the signature of any such Officer of the Corporation and the Corporation's seal may be affixed by facsimile to any power of attorney or certification given for the execution of any bond, undertaking, recognizance, contract of indemnity or other written obligation in the nature thereof or related thereto, such signature and seals when so used whether heretofore or hereafter, being hereby adopted by the Corporation as the original signature of such officer and the original seal of the Corporation, to be valid and binding upon the Corporation with the same force and effect as though manually affixed." IN WITNESS WHEREOF, INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY have each executed and attested these presents on this 31st day of December, 2016 STATE OF NEW JERSEY County of Essex George R. James Executive Vice President (International Fidelity Insurance Company) and Vlce President (Allegheny Casualty Company) On this 31st day of December, 2016 , before me came the individual who executed the preceding instrument, to me personally known, and, being by me duly sworn, said he is the therein described and authorized officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and of ALLEGHENY CASUAL TY COMPANY; that the seals affixed to said instrument are the Corporate Seals of said Companies; that the said Corporate Seals and his signature were duly affixed by order of the Boards of Directors of said Companies. IN TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal, at the City of Newark, New Jersey the day and year first above written. CERTIFICATION Cathy Cruz a Notary Public of New Jersey My Commission Expires April 16, 2019 I, the undersigned officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY do hereby certify that 1 have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Sections of the By-Laws of said Companies as set forth in said Power of Attorney, with the originals on file in the home of said companies, 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. IN TESTIMONY WHEREOF, I have hereunto set my hand on this day, A00436/MOC Insurance Services. Maria H. Branco, Assistant Secretary 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 Francisco ) On September 07 , 2018 before me, -�D=a�ra�T=o�uc�h�.---'N�o�t�a�rv�P--=u,,,b"'li"-c _______ _ (insert name and title of the officer) personally appeared ...,Rc-'a""c,,,hcce,,,1-:--'P---'o"-'rt:-"e"'r-,-----:---,----------:---,-------,---,---::--------,----,---,--------� who proved to me on the basis of satisfactory evidence to be the personfsj whose namefs} istare subscribed to the within instrument and acknowledged to me that he.lsheltAey executed the same in Rislherl#leif authorized capacityfjest,-and that by-his,'hefl#!eiF signaturefsj on the instrument the personfst, or the entity upon behalf of which the pe rsonfsj acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature __ {)_.,___�----'-----•J(_ ______ _ (Seal) DARA TOUCH _ Notary Public • California � San Francisco County I z Commission# 2159426 :':: )4 0 i;@ ;·,.JMJ 20;''''7 txpi:es Jgl ;, JD}D, l FAITHFUL PERFORMANCE BOND BOND NUMBER: 0748732 PREMIUM: $7,591 WHEREAS, the Town of Los Gatos, State of California (hereinafter called 'Town"), and SUMMERHILL N40 LLC (herein designated as "Principal") have entered an agreement by which Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, said Principal is required under the terms of the Subdivision Improvement Agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the Principal and INTERNATIONAL FIDELITY INDEMNITY COMPANY, as Surety, are held and firmly bound unto the Town, in the penal sum of seven hundred and ninety-nine thousand ($799,000) 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, formally by these presents. The condition of this obligation is such that if the above bounded Principal, 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 Subdivision Improvement 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 Town, its officers, agents and employees, as therein stipulated, and this obligation shall become null and void; otherwise it shall be and remain in full force and effect. Principal and Surety further agree that, upon Town's final approval of the work, ten percent (10%) of this bond shall remain in effect to guarantee the repair and/or replacement of defective materials and/or construction, one (1) year after Town's final acceptance of the work, unless Principal posts a separate warranty bond instead. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by Town in successfully enforcing such obligation, all to be taxed as costs and included in any judgement 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 lo be performed thereunder or the specifications accompanying the same shall in any way 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 Subdivision Improvement Agreement or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on September 7th, 2018. 1 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SurnmerHill Homes LLC, a California limited liability company :: M,aa9ec ct:t -Senior Vice President Its: SURETY: l���IDELITY INDEMNITY COMPANY By: Rachel A Portqer Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 By: [City, State, ZIP] /Jti vii;y,, Its: SMHH\54443\1441213.9 2 EXECUTION COPY 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 Californja County of l-/ .-rfru On $$1-,1� Zo1} , before me, /YI· K, h(' fl, ·, a_ Notary Public, personally appeared /YI.Itri!;✓' e, SZ:.--n> , who proved to me on the basrs of satisfactory evidence to be the perso$) who ename(&) is/are.subscribed to the within instrument and acknowledged to me that Aeishe/tl:!€y executed the same in Ais/her/tl'leir authorized capacityfies7, and that by AA;/her/tA<.irsignatureµ;) on the instrument the person(97, 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 foregoingparagraph is true and correct. WITNESS my hand and official seal. Signature eeeee-eee:l M. R!NETTI Notary Public -California z Contra Costa County $ Commission : 2220824 � My Comm. Expires Nov 5. 2021 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 Californjij County of O ,,-fr-c, On � JO 1 � , before me, fl'i· fe..,'11.c.4 · a Notary Public, personally appea� ' �-l?,t,1.Jhbbr , who proved to me on the basis of satisfactory evidence to be the person Ea) whose name(-s) rs/a.e subscribed to the within instrument and acknowledged to me that hel,hetthey executed the same in his/1:lsF,l!J:ieir authorized capacity{iesj, and that by his/Aefl.ll¾lir signaturefs) on the instrument the person(s-l, 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 foregoingparagraph is true and correct. WITNESS my hand and official seal. Signature SMHH\54443\1441213.9 eeeeeeeee�M. RINETTl Notary Public-Callfomia z Contra Costa County � Commiss:on # 2220824 �� C!mm, Ex:es No:,;, 2,51 w LABOR AND MATERIALS BOND BOND NUMBER: 0748732 PREMIUM: Included WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SurnmerHill N40 LLC (hereinafter designated as "Principal") have entered an agreement whereby Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, under the terms of the Subdivision Improvement Agreement, Principal is required, before entering upon the performance of the work, to file a good and sufficient payment bond with the Town 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 the undersigned as Corporate Surety are held firmly bound unto the Town and all contractors, subcontractors, laborers, material suppliers and other persons employed in the performance of the Subdivision Improvement Agreement and referred to in the aforesaid Civil Code in the sum of seven hundred and ninety-nine thousand ($799,000) 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 herein above 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 Town in successfully enforcing such 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 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. The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Subdivision Improvement 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 September 7th; 2018. SMHH\54443\1441213.9 1 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager �;;:=. By. By: (1wi�_tJei:yiJvw SMHH\54443\1441213.9 2 SURETY: INT�DELITY INDEMNITY COMPANY By: Its: Rachel A Portger Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 [City, State, ZIP] 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 Califord /!l ·• .1 County of � �� On ¥ J(J i/_j) /p _, bef9re IJlE!,/JJ · j((,i,e, f/2 · , a Notary Public, personallyappeared //4 ;']? .,., G ;;,;:, --rzJ , who proved to me on the basis of satisfactory evidence to be the person(stwhose namet5) isl.are subscribed to the within instrument and acknowledged to me that l:le/she/tt-ley executed the same in his/her/tli-eir authorized capacity�), and that by A-is/her/their signature�) on the instrument the person(:;,), or the entity upon behalf of which the person(,sJ 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. Signature M. RINETTI Notary Public-California Contra Costa County Commission# 2220624 My Comm, !hpirl'li Nov 5. 2021 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 Californi?-;J County of c ·1rrf-rt1. On � 1(), � , before me, /rl ·K-1ne 1/-, , a Notary Public, personallyappe� I � �a---' who proved to me on the basis of satisfactory evidenceto be the personfs) whose n�) is/are-subscribed to the within instrument and acknowledged to me that hc/sfw/11,e)' executed the same in his/t-lerlll,eir authorized capacity(ies), and that by his/i<Arffbr-ic.. signature(� on the instrument the personfs1, or the entity upon behalf of which the person(,sj acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature SMHH\54443\1441213.9 M. RINETTI. Notary Public-Ca\ifom1a contra Costa County Commission# 2220824 My Comm, E.xpire\. Nev 5. 2021 September 7, 2018 POWER OF ATTORNEY INTERNATIONAL FIDELITY INSURANCE COMPANY ALLEGHENY CASUAL TY COMPANY Bond# One Newark Center, 20th Floor, Newark, New Jersey 07102-5207 PHONE: (973) 624-7200 0748732 KNOW ALL MEN BY THESE PRESENTS: That INTERNATIONAL FIDELITY I_NSURANCE COMPANY, a corporation organized and existing under thelaws of the State of New Jersey, and ALLEGHENY CASUAL TY COMPANY a corporation organized and existing under the !aws of the State of New Jersey, having their principal office in the City of Newark, New Jersey, do hereby constitute and appoint IVAN M. MAROEVICH, JR., RACHEL A. PORTER, WILLIAM R. GRINDELL, VALERIE D. WILLIAMS-COLE PAUL F. PERLITE. San Francisco, CA. their true and lawful attorney(s)-ln-fact to execute, seal and deliver for and on its behalf as surety, any and all bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be a!fowed, required or permitted by law, statute, rule, regulation, contract or otherwise, and the execution of such instrument(s) in pursuance of these presents, shall be as binding upon the said INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY, as fully and amply, to all intents and purposes, as if the same had been duly executed and acknowledged by their regularly elected officers at their principal offices. This Power of Attorney is executed, and may be revoked, pursuant to and by authority of the By-Laws of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY and is granted under and by authority of the following resolution adopted by the Board of Directors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting duly held on the 2oth day of July, 2010 and by the Board of Directors of ALLEGHENY CASUALTY COMPANY at a meeting duly held on the 10th day of July, 2015 "RESOLVED, that (1) the Chief Executive Officer, President, Executive Vice President, Vice President, or Secretary of the Corporation shall have the power to appoint, and to revoke the appointments of, Attorneys-in-Fact or agents with power and authority as defined or limited in their respective powers of attorney, and to execute on behalf of the Corporation and affix the Corporatlon's seal thereto, bonds, undertakings, recognizances, contracts of indemnity and other written obligations in the nature thereof or related thereto; and (2) any such Officers of the Corporation may appoint and revoke the appointments of joint-control custodians, agents for acceptance of process, and Attorneys-in-fact with authority to execute waivers and consents on behalf of the Corporation; and (3) the signature.of any such Officer of the Corporation and the Corporation's seal may be affixed by facsimile to any power of attorney or certification given for the execution of any bond, undertaking, recognizance, contract of indemnity or other written obligation in the nature thereof or related thereto, such signature and seals when so used whether heretofore or hereafter, being hereby adopted by the Corporation as the original signature of such officer and the original seal of the Corporation, to be valid and binding upon the Corporation with the same force and effect as though manually affixed." IN WITNESS WHEREOF. INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUALTY COMPANY have each executed and attested these presents on this 31st day of December, 2016 STATE OF NEW JERSEY County of Essex George R. James Executive Vice President (International Fidelity Insurance Company) and Vice President (Allegheny Casualty Company) On this 31st day of December, 2016 , before me came the individual who executed the preceding instrument, to me personally known, and, being by me duly sworn, said he is the therein described and authorized officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and of ALLEGHENY CASUALTY COMPANY; that the seals affixed to said instrument are the Corporate Seals of said Companies; that the said Corporate Seals and his signature were duly affixed by order of the Boards of Directors of said Companies. IN TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal, at the City of Newark, New Jersey the day and year first above written. CERTIFICATION Cathy Cruz a Notary Public of New Jersey My Commission Expires April 16, 2019 1, the undersigned officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Sections of the By-Laws of said Companies as set forth in said Power of Attorney, with the originals on file in the home of said companies, 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. IN TESTIMONY WHEREOF, I have hereunto set my hand on this day, A00436/MOC Insurance Services. Maria H. Branco, Assistant Secretary ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity o f 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 Francisco On September 07, 2018 before me, -�D;:-=a�ra�T-:-o�u=c=h�,�N�o=t;=ac-;ry';--'-P�u:':b':'lice.._-=-c----(insert name and title of the officer) personally appea red ---,R-;'-a�c':'h�e=l�P�o'-:rt:'-'e=r-::-:---:------:--:------,-------,------,-,-------,--:----,----------who proved to me o n the basis o f satisfactory evidence to be the personfst whose namefst isl'afe subscribed to the within instrument and acknowledged to me that Ret'shel#ley executed the same in Jcii&lherl#leiF authorized capacityfies},-and that by-.ruslhefltReif signaturefst on the instrument the personfsh or the entity upo n behalf of which the personfst acted, executed the instrument. I certify under PENAL TY OF PERJURY unde r the laws of the State of California that the foregoing paragraph is true and correct. WITN ESS my hand and official seal. Signature _ ____./1,,_,,;., __ £,..,,_...__,.,/L..��----(Seal) '"'"'''""""-����-...DARA TOUCH :,,, Notary Public -California·, l San �rancis.co County I ·Comm1Ssion # 2159426 ':':My Comm. E,, ires Jul 9, 2020 FAITHFUL PERFORMANCE BOND BOND NUMBER: 0748733 PREMIUM: $3,705 WHEREAS, the Town of Los Gatos, State of California (hereinafter called 'Town"), and SUMMERHILL N40 LLC (herein designated as "Principal") have entered an agreement by which Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, said Principal is required under the terms of the Subdivision Improvement Agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the Principal and INTERNATIONAL FIDELITY INDEMNITY COMPANY, as Surety, are held and firmly bound unto the Town, in the penal sum of three hundred and ninety thousand ($390,000) 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, formally by these presents. The condition of this obligation is such that if the above bounded Principal, 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 Subdivision Improvement 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 Town, its officers, agents and employees, as therein stipulated, and this obligation shall become null and void; otherwise it shall be and remain in full force and effect. Principal and Surety further agree that, upon Town's final approval of the work, ten percent (10%) of this bond shall remain in effect to guarantee the repair and/or replacement of defective materials and/or construction, one (1) year after Town's final acceptance of the work, unless Principal posts a separate warranty bond instead. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by Town in successfully enforcing such obligation, all to be taxed as costs and included in any judgement 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 specifications accompanying the same shall in any way 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 Subdivision Improvement Agreement or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on September 7th, 2018. 1 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager By: By: SMHH\54443\1441213.9 2 SURETY: IN�IDELITY INDEMNITY COMPANY By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 [City, State, ZIP] EXECUTION COPY 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 //} .nJ Countyof Off/rtt., C{)� On :fkpf;/&, ZtJ IV , before ri,e, th · /c1 >ie-./l..., · a Notary Public, personally appeared r �,, -r:' S.;z 7V , who proved to me on the basis of satisfactory evidence to be the person(&) whose name(;i-) is/are subscribed to the within instrument and acknowledged to me that 1<1€/she/thsy executed the same in Ris/her/!A€ir authorized capacity� and that by hlslher/ti,e.ir signature(&) on the instrument the person(s), or the entity upon behalf of which the person(aj 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. Signature '--Ji,,, · � 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 Califor9}a A_ County of (,»,p-r;,... 1.-D� On • /I} , before1mi,, f11.-· IC, he_(-/4.' , a Notary Public, personally appeared e f A. l:Jcl✓ who proved to me on the basis of satisfactory evidence to be the person�) whose name(s is/..re subscribed to the within instrument and acknowledged to me that he.1sh@1lhey executed the same in his/her'lhsiF authorized capacity�, and that by his/heFIHrnir signaturef,s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. � . /, ___ .. �___, Signature � SMHH\54443\1441213.9 1 M. RINETTI Notary Public -CaliforniaContra Costa County f Commission# 2220824 My Comm. Expires No� !L 2021 LABOR AND MATERIALS BOND BOND NUMBER: 0748733 PREMIUM: Included WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SurnmerHill N40 LLC (hereinafter designated as "Principal") have entered an agreement whereby Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, under the terms of the Subdivision Improvement Agreement, Principal is required, before entering upon the performance of the work, to file a good and sufficient payment bond with the Town 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 the undersigned as Corporate Surety are held firmly bound unto the Town and all contractors, subcontractors, laborers, material suppliers and other persons employed in the performance of the Subdivision Improvement Agreement and referred to in the aforesaid Civil Code in the sum of three hundred and ninety thousand ($390,000) 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 herein above 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 Town in successfully enforcing such 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 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. The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Subdivision Improvement 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, alterati on or addition. In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on September 7th, 2018. SMHH\54443\1441213.9 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager By: By: lts: __ �_0 _____ _ SMHH\54443\1441213.9 2 SURETY: l��IDELITY INDEMNITYCOMPANY By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 [City, State, ZIP] A notary public or otber officer completing this certificate verifies only the identity of tbe individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of Califo/laCounty of �,.+,,-/4- On < s'� //, OI) , before me, /11 · l'<':,hr::__J/..., · a Notary Public, personally appeared ' /72�; i C ::{?-"70 , who proved to me on the basis of satisfactory evidence to be the person(s, whoname(.,.) is/are subscribed to the within instrument and acknowledged to me thatbe/she/th.e.y executed the same in lais/her/tll€ir authorized capacityµesL and that by his/her/I�signature(s} 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. A notary public or other officer completing this certificate verifies only tbe 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 Californj? ,,p .1_ . County of {3 nir/4_ CO £,r--e;,____;, ) ) On . /I} /J1 ·/f:,'7 �/4 ·, a Notary Public, personally appeare ,r , who proved to me on the basis of satisfactory evidence to be the person(,;) whose name(s) i am subscribed to the within instrument and acknowledged to me that he/she{lh@.y executed the same in his/l:leJ:ltooir authorized capacity(ies.), and that by his/� signature(.;) 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. WITNESS my hand and official seal. Signature SMHH\54443\1441213.9 neeeeeeeeeeel • M.RINETTI l -Notary Public-California z i Coritra Costa Courtly ! z Commission# 2220824 My Cmnm, t,:piiU N(IV 5. 2021 September 7, 2018 POWER OF ATTORNEY INTERNATIONAL FIDELITY INSURANCE COMPANY ALLEGHENY CASUAL TY COMPANY Bond# One Newark Center, 20th Floor, Newark, New Jersey 07102-5207 PHONE: (973) 624-7200 0748733 KNOW ALL MEN BY THESE PRESENTS: That INTERNATIONAL FIDELITY INSURANCE COMPANY, a corporation organized and existing under the laws of the State of New Jersey, and ALLEGHENY CASUAL TY COMPANY a corporation organized and existing under the laws of the State of New Jersey, having their princlpal office in the City of Newark, New Jersey, do hereby constitute and appoint IVAN M. MAROEVICH, JR., RACHEL A. PORTER, WILLIAM R. GRINDELL, VALERIE D. WILLIAMS-COLE PAUL F. PERLITE. San Francisco, CA. their true and lawful attomey(sHn-fact to execute, seal and deliver for and on its behalf as surety, any and al! bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be allowed, required or permitted by law, statute, rule, regulation, contract or otherwise, and the execution of such instrument{s) in pursuance of these presents, shall be as binding upon the said INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY, as fully and amply, to all intents and purposes, as if the same had been duly executed and acknowledged by their regularly elected officers at their principal offices. This Power of Attorney is executed, and may be revoked, pursuant to and by authority of the By-Laws of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUALTY COMPANY and is granted under and by authority of the following resolution adopted by the Board of Directors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting duly held on the 20th day of July, 2010 and by the Board of Directors of ALLEGHENY CASUAL TY COMPANY at a meeting duly held on the 10th day of July, 2015 "RESOLVED, that {1) the Chief Executive Officer, President, Executive Vice President, Vice President, or Secretary of the Corporation shall have the power to appoint, and to revoke the appointments of, Attorneys-in-Fact or agents with power and authority as defined or limited in their respective powersof attorney, and to execute on behalf of the Corporation and affix the Corporation's seal thereto, bonds, undertakings, recognizances, contracts of indemnity and other written obligations in the nature thereof or related thereto; and {2) any such Officers of the Corporation may appoint and revoke the appointments of joint-control custodians, agents for acceptance of process, and Attorneys-in-fact with authority to execute waivers and consents on behalf of the Corporation; and {3) the signature of any such Officer of the Corporation and the Corporation's sea! may be affixed by facsimile to any power of attorney or certification given for the execution of any bond, undertaking, recognizance, contract of indemnity or other written obligation in the nature thereof or related thereto, such signature and seals when so used whether heretofore or hereafter, being hereby adopted by the Corporation as the original signature of such officer and the original seal of the Corporation, to be valid and binding upon the Corporation with the same force and effect as though manually affixed." IN WITNESS WHEREOF, INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY have each executed and attested these presents on this 31st day of December, 2016 STATE OF NEW JERSEY County of Essex c�SUA()) ... "o 1936 ! George R. James Executive Vice President {International Fidelity Insurance Company) and Vice President (Allegheny Casualty Company) WJEflS,,:( On. this 31st day of-December, 2016 , before me came the individual who executed the preceding instrument, to me personally known, and, being by me duly sworn, said he ls the therein described and authorized officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and of ALLEGHENY CASUAL TY COMPANY; that the seals affixed to said instrument are the Corporate Seals of said Companies; that the said Corporate Seals and his signature were duly affixed by order of the Boards of Directors of said Companies. IN TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal, at the City of Newark, New Jersey the day and year first above written. CERTIFICATION Cathy Cruz a Notary Public of New Jersey My Commission Expires April 16, 201 g I, the undersigned officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Sections of the By-Laws of said Companies as set forth in said Power of Attorney, with the originals on file in the home of said companies, and that the same are correct transcripts thereof, and of the whole of thesaid originals, and that the said Power of Attorney has not been revoked and is now in full force and effect. IN TESTIMONY WHEREOF, I have hereunto set my hand on this day, A00436/MOC Insurance Services. Maria H. Branco, Assistant Secretary .. 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_ On September 07 , 2018 before me, Dara Touch. Notary Public (insert name and title of the officer) personally appeared ---;R;"a=cc'h�e=l:-'-P�o'--;rt�e=r-:-:--;---;------,--,-----:--;----;;--------,--,------,---------,--,------who proved to me on the basis of satisfactory evidence to be the personfst whose namefst isl'are subscribed to the within instrument and acknowledged to me that Relsheltlley executed the same in fli&'her/#Jeif authorized capacityfiest, and that by-Ris/heflttleif signaturefst on the instrument the person{sh or the entity upon behalf of which the personfst acted, exec uted the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is tr ue and correct. WITNESS my hand and official seal. (Seal) FAITHFUL PERFORMANCE BOND EXECUTION COPY BOND NUMBER: 0748734 PREMIUM: $893 WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SUMMERHILL N40 LLC (herein designated as "Principal") have entered an agreement by which Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, said Principal is required under the terms of the Subdivision Improvement Agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the Principal and INTERNATIONAL FIDELITY INDEMNITY COMPANY, as Surety, are held and firmly bound unto the Town, in the penal sum of ninety-four thousand ($94,000) 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, formally by these presents. The condition of this obligation is such that if the above bounded Principal, 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 Subdivision Improvement 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 Town, its officers, agents and employees, as therein stipulated, and this obligation shall become null and void; otherwise it shall be and remain in full force and effect. Principal and Surety further agree that, upon Town's final approval of the work, ten percent (10%) of this bond shall remain in effect to guarantee the repair and/or replacement of defective materials and/or construction, one (1) year after Town's final acceptance of the work, unless Principal posts a separate warranty bond instead. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by Town in successfully enforcing such obligation, all to be taxed as costs and included in any judgement 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 specifications accompanying the same shall in any way 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 Subdivision Improvement Agreement or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on September 7th, 2018. 1 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager By: By: SMHH\5444311441213.9 2 SURETY: ,�,rr '"DCMN,>Y COMPANY By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 [City, State, ZIP] EXECUTION COPY A notary public or otber 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 CaliforlJ)a 4 __ _; County of t� $Ni.-(_, � On St,,J-:-;r! � , before m\l, . /1? · /CJ il C /4 .a Notary Public, personally appeared J·J C:. > 2,, 'rT> , who proved to me on the basis of satisfactory evidence to be the person� whose name(s) is/.:.Fe subscribed to the within instrument and acknowledged to me that Ail/she/they executed the same in A-is/her/ti,eir authorized capacity(ies), and that by 11.i,;/her/their signature(s, on the instrument the person(,}, or the entity upon behalf of which the person(aj acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature �.,, � �eeeeeeeeeeeel M. RINETTI • Nola� Poblic -California z � Conira Costa County '$ >!: Commission# 2220824 - My Comm. Exoires Nov 5. 2021 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 CalifoJJili':.L /vCounty of (,t!Jo tr&-LO� On � /� , bel,>r\l me,/11 · K1 ;,,e � ·a Notary Public, personally appea� IZt(,/fu:,lv , who proved to me on the basis of satisfactory evidence to be the person(-s) whose nam�(s) is/are subscribed to the within instrument and acknowledged to me that oo/she/tl:ley executed the same in r-tis/her/ti'teir authorized capacity(ies), and that by his/her/their signature( .. ) on the instrument the person{S), or the entity upon behalf of which the person(..) acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. �,,� Signature ----'�-=---=====--------- SMHH\54443\1441213.9 1 LABOR AND MATERIALS BOND BOND NUMBER: 0748734 PREMIUM: Included WHEREAS, the Town of Los Gatos, State of California (hereinafter called 'Town"), and SurnrnerHill N40 LLC (hereinafter designated as "Principal") have entered an agreement whereby Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, under the terms of the Subdivision Improvement Agreement, Principal is required, before entering upon the performance of the work, to file a good and sufficient payment bond with the Town 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 the undersigned as Corporate Surety are held firmly bound unto the Town and all contractors, subcontractors, laborers, material suppliers and other persons employed in the performance of the Subdivision Improvement Agreement and referred to in the aforesaid Civil Code in the sum of ninety-four thousand ($94,000) 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 herein above 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 Town in successfully enforcing such 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 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. The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Subdivision Improvement 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 September 7th, 2018. PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company :."'"�"\� arjorie L. Szto SURETY: By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Its:_,__+-+-------/, i Walnut Creek CA 94597 _767/7'7/--t-!----::::====·---[_Cit)l,-State, ZIP]By: V1¼ \ruw0w Its: C))Q SMHH\5444311441213.9 2 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 Californ(k County of � On � /�/ 2t)IY ,,before me, m. l<:J.;, C: 14 . ' a Notary Public, personallyappe� /71,:tr fc)I"'' t: :S.v::§ , who proved to me on the basis of satisfactory evidenceto be the person(s)'whose name(s) is/are subscribed to the within instrument and acknowledged to me thatWshe/ti:l@y executed the same in -1:lis/her/tlaeir authorized capacity(-iss), and that by his/her/tlTeirsignature(.;) on the instrument the person(,+, or the entity upon behalf of which the person(aj acted,executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoingparagraph is true and correct. WITNESS rny hand and official seal. Signature M. RINETTI Notary Public-California ConU"a Costa County f Commission ; 2220824 My Comm. Expires Nov 5. 2021 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 Califrn;qia Co u nty of 0 ,;'-/-r ,,,_ On ---==-=.=-'-'-"--r,.',;�'!--' before ;nk, fh · -C ;nc It, · a Notary Public, personallyappeared 'tJJ r,v , who proved to me on the basis of satisfactory evidenceto be the person(,;) whose name( s/are subscribed to the within instrument and acknowledged to me thathe/.helthey executed the same in hiE/he�'thoir authorized capacity(iesj.,. and that by his/�signaturet0 on the instrument the person(sj, or the entity upon behalf of which the person(st-acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoingparagraph is true and correct. WITNESS my hand and official seal. Signature SMHH\54443\1441213.9 � e e en ce e :.R%E;, e e e f� Notary Public -California i Coni:a Costa County J Commission# 2220824 � My Comm. Expires Nov 5. 2021 September 7, 2018 POWER OF ATTORNEY INTERNATIONAL FIDELITY INSURANCE COMPANY ALLEGHENY CASUAL TY COMPANY Bond# One Newark Center, 20th Floor, Newark, New Jersey 07102-5207 PHONE: (973) 624-7200 0748734 KNOW ALL MEN BY THESE PRESENTS: That INTERNATIONAL FIDELITY INSURANCE COMPANY, a corporation organized and existing under the laws of the State of New Jersey, and ALLEGHENY CASUALTY COMPANY a corporation organized and existing under the laws of the State of New Jersey, having their principal office in the City of Newark, New Jersey, do hereby constitute and appoint IVAN M. MAROEVICH, JR., RACHEL A. PORTER, WILLIAM R. GRINDELL, VALERIE D. WILLIAMS-COLE PAUL F. PERLITE. San Francisco, CA. their true and !awful attorney(s)-in-fact to execute, seal and deliver for and on its behalf as surety, any and all bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be allowed, required or permitted by law, statute, rule, regulation, contract or otherwise, and the execution of such instrument(s) in pursuance of these presents, shall be as binding upon the said INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUALTY COMPANY, as fully and amply, to all intents and purposes, as if the same had been duly executed and acknowledged by their regularly elected officers at their principal offices. This Power of Attorney is executed, and may be revoked, pursuant to and by authority of the By-Laws of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY and is granted under and by authority of the following resolution adopted by the Board of Directors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting duly held on the 20th day of July, 2010 and by the Board of Directors of ALLEGHENY CASUAL TY COMPANY at a meeting duly held on the 1 oth day of July, 2015 "RES_OLVED, that (1) the Chief Executive Officer, President, Executive Vice President, Vice President, or Secretary of the Corporation shall have the power to appoint, and to revoke the appointments of, Attorneys-in-Fact or agents with power and authority as defined or limited in their respective powers of attorney, and to execute on behalf of the Corporation and affix the Corporation's sea! thereto, bonds, undertakings, recognizances, contracts of indemnity and other written obligations in the nature thereof or related thereto; and (2) any such Officers of the Corporation may appoint and revoke the appointments of joint-control custodians, agents for acceptance of process, and Attorneys-in-fact with authority to execute waivers and consents on behalf of the Corporation; and (3) the signature of any such Officer of the Corporation and the Corporation's seal may be affixed by facsimile to any power of attorney or certification given for the execution of any bond, undertaking, recognizance, contract of indemnity or other written obllgation in the nature thereof or related thereto, such signature and seals when so used whether heretofore or hereafter, being hereby adopted by the Corporation as the original signature of such officer and the original seal of the Corporation, to be valid and binding upon the Corporation with the same force and effect as though manually affixed." IN WITNESS WHEREOF, INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUALTY COMPANY have each executed and attested these presents on this 31st day of December, 2016 STATE OF NEW JERSEY County of Essex cP..SUA.£.7) ... "'o George R. James Executive Vice President (International Fidelity Insurance Company) and Vice President (Allegheny Casualty Company) 1936 � * JERs'c:-."'"'- On this 31st day of December, 2016 , before me came the individual who executed the preceding instrument, to me personally known, and, being by me duly sworn, said he is the therein described and authorized officer of INTERNATIONAL FIDELITY INSURANCE COMPANY andof ALLEGHENY CASUAL TY COMPANY; that the sea!s affixed to said instrument are the Corporate Seals of said Companies; that the said Corporate Seals and his signature were duly affixed by order of the Boards of Directors of said Companies. lN TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal, at the City of Newark, New Jersey the day and year first above written. CERTIFICATION Cathy Cruz a Notary Public of New Jersey My Commission Expires April 16, 2019 I, the undersigned officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Sections of the By-Laws of sald Companies as set forth in said Power of Attorney, with the originals on file in the home of said companies, 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. !N TESTIMONY WHEREOF, I have hereunto set my hand on this day, A00436/MOC Insurance Services. Maria H. Branco, Assistant Secretary ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this c ertificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of_ San Francisco On September 07, 2018 before me, -�Dcc._a=r�a�T�ou=c=h�,�N�o�t=a�ry�P=u =b�lic�------(insert name and title of the officer) personally appeared _,Rc'a�c':'h�e�lc"P�o'-:r:"te�r-c-::-c-----cc----,----,---;:-----,----,-----,-----,-.,-----who proved to me on the basis of satisfactory evidence to be the personfs} whose namefs} istaFe subscribed to the within instrument and acknowledged to me that lielsheAAey executed the same in Hi&lhert'#leif authorized capacityfiest, and that by-lw.,,lhefl#leif signaturefs} on the instrument the personfs}, or the entity upon behalf of which the personfs} acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature --�/)�k--tch-"'-��-==----(Seal) DARA TOUCH Notary Public -CaliforniaSan Francisco County �Cpmmission # 2159426 ::M Comm. E,xpires Jul 9, 2020 FAITHFUL PERFORMANCE BOND BOND NUMBER: 0748735 PREMIUM: $2,917 WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SUMMERHILL N40 LLC (herein designated as "Principal") have entered an agreement by which Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, said Principal is required under the terms of the Subdivision Improvement Agreement to furnish a bond for the faithful performance of said agreement. NOW, THEREFORE, we, the Principal and INTERNATIONAL FIDELITY INDEMNITY COMPANY, as Surety, are held and firmly bound unto the Town, in the penal sum of three hundred and seven thousand ($307,000) 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, formally by these presents. The condition of this obligation is such that if the above bounded Principal, 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 Subdivision Improvement 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 Town, its officers, agents and employees, as therein stipulated, and this obligation shall become null and void; otherwise it shall be and remain in full force and effect. Principal and Surety further agree that, upon Town's final approval of the work, ten percent (10%) of this bond shall remain in effect to guarantee the repair and/or replacement of defective materials and/or construction, one (1) year after Town's final acceptance of the work, unless Principal posts a separate warranty bond instead. As a part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by Town in successfully enforcing such obligation, all to be taxed as costs and included in any judgement 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 w'ork to be performed thereunder or the specifications accompanying the same shall in any way 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 Subdivision Improvement Agreement or to the work or to the specifications. In witness whereof, this instrument has been duly executed by the Principal and Surety above named, on September 7th, 2018. PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager By: By: l:dr{aio�ie L. Szto SMHH\54443\1441213.9 2 SURETY: INTERNATioriii:L FIDELITY INDEMNITY COMPANY By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 [City, State, ZIP] EXECUTION COPY 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 CaliforJJia /v __ , County of __ t.Mf,-c..,=�--����=-)) On 3/ Jo, 2d l'Y .. before me. f"l · 4e-fh ·a_ Notary _Public. personallyappeared /l2""".Jpr• e Sl,,-1-<> . who proved to me on the basis of satisfactory evidenceto be the person(<>1 whose namefs) is/are subscribed to the within instrument and acknowledged to me that19e/she/tooy executed the same in Ris/her/tA-eir authorized capacityfi,,s), and that by A-is/her/theirsignature(s, on the instrument the person(s-). or the entity upon behalf of which the person(-&) acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoingparagraph is true and correct. WITNESS my hand and official seal. Signature e e e e e e e e e M. RINETTI l Notary PubHc -California Contra Ccsta County f Commission# 2220824 � My Comm, Expires Nov 5. 2021 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 Califor6 County of n1n ...)) On fJ:f � /() 2()1)> , before me, /VI · fGhe_l/2 · , a Notary Public, personallyappe� �Vh r,::, 11n� 1../:,lf , who proved to me on the basis of satisfactory evidence to be the person(&) whose name�) is/are subscribed to the within instrument and acknowledged to me thathe/shedh'-Y executed the same in his/19-efAAeir authorized capacity(ies), and that by his/herfll%lirsignature(s) on the instrument the person(s). or the entity upon behalf of which the personEs) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoingparagraph is true and correct. WITNESS my hand and official seal. Signature SMHH\54443\1441213.9 1 M. RINETTI �Notary Public -California Contra Costa COtJnty f Commiuion f 2220824 My Comm� !:!1::pirea Nov 5. 2021 LABOR AND MATERIALS BOND BOND NUMBER: 0748735 PREMIUM: included WHEREAS, the Town of Los Gatos, State of California (hereinafter called "Town"), and SummerHill N40 LLC (hereinafter designated as "Principal") have entered an agreement whereby Principal agrees to install and complete certain designated public improvements, which agreement, dated September [DAY], 2018, and identified as the "Subdivision Improvement Agreement" is hereby referred to and made a part hereof; and WHEREAS, under the terms of the Subdivision Improvement Agreement, Principal is required, before entering upon the performance of the work, to file a good and sufficient payment bond with the Town 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 the undersigned as Corporate Surety are held firmly bound unto the Town and all contractors, subcontractors, laborers, material suppliers and other persons employed in the performance of the Subdivision Improvement Agreement and referred to in the aforesaid Civil Code in the sum of three hundred and seven thousand ($307,000) 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 herein above 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 Town in successfully enforcing such 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 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 The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Subdivision Improvement 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 September 7th, 2018. SMHH\5444311441213.9 PRINCIPAL: SUMMERHILL N40 LLC, a California limited liability company By: SummerHill Homes LLC, a California limited liability company Its Manager By: ( By: __J_.JD4ru____,1�� .......... ==- SMHH\54443\1441213.9 SURETY: �ilrr INTEATINALFIDELITY INDEMNITY COMPANY By: Rachel A Portger Its: Attorney-In-Fact 2999 Oak Rd. #820 [Address] Walnut Creek CA 94597 [City, State, ZIP]------· 2 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 Califoq;)ja County of �,rlr-,.,, On � Jr}. 0 IY , before me, /J1 · K.!Y?e·/h · , a Notary Public, personallyappe� /?J,t,:;t7-Yi C 52---17) , who proved to me on the basis of satisfactory evidence to be the person(s)-whose name(-s) is/a.., subscribed to the within instrument and acknowledged to me that helshe/tooy executed the same in �/her/their authorized capacity(ie&), and that by Ais/her/tReif signature(,;) on the instrument the person(s,, or the entity upon behalf of which the person(st acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature '--Jn · �/$� eeeeeeeeA� M. RINETTlNotary Pcabiic -California z Co11tra Costa Couniy � Commissiori # 2220824 � My Comm. Expires Nov 5, 2021 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 CalifortJJ? 4 , .1._ County of QrJt/',<_, Co.Jv' ""-- On � Id � , before me, /7'1 ·Kr'nc,/,t, ·, a_ Notary Public, personallyappeared z �rh.6tJ,--'who proved to me on the basis of satisfactory evidence to be the person(,;;.) whose name(& is/a.e-subscribed to the within instrument and acknowledged to me that hc/.he/lh@y executed the same in his/-Me1/ll1eir authorized capacity(ies), and that by his/h� signature(%) on the instrument the person(st, or the entity upon behalf of which the person(s.) acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature SMHH\54443\1441213.9 M. RINETTINotary Public-CaliforniaCont�a �Os!B County Comm1ss1on # 222oa24 hly Comm. Expires Nov 5. 2021 September 7, 2018 POWER OF ATTORNEY INTERNATIONAL FIDELITY INSURANCE COMPANY ALLEGHENY CASUAL TY COMPANY Bond# One Newark Center, 20th Floor, Newark, New Jersey 07102-5207 PHONE: (973) 624-7200 0748735 KNOW ALL MEN BY THESE PRESENTS: That INTERNATIONAL FIDELITY INSURANCE COMPANY, a corporation organized and existing under the laws of the State of New Jersey, and ALLEGHENY CASUALTY COMPANY a corporation organized and existing under the laws of the State of New Jersey, having their principal office in the City of Newark, New Jersey, do hereby constitute and appoint IVAN M. MAROEVICH, JR., RACHEL A. PORTER, WILLIAM R. GRINDELL, VALERIE D. WILLIAMS-COLE PAUL F. PERLITE. San Francisco, CA. their true and lawful attorney(s)-in-fact to execute, seal and deliver for and on its behalf as surety, any and all bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be allowed, required or permitted by law, statute, rule, regulation, contract or otherwise, and the execution of such instrument(s) in pursuance of these presents, shall be as binding upon the said INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUALTY COMPANY, as fully and amply, to all intents and purposes, as if the same had been duly executed and acknowledged by their regularly elected officers at their principal offices. This Power of Attorney is executed, and may be revoked, pursuant to and by authority of the By-Laws of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUALTY COMPANY and is granted under and by authority of the following resolution adopted by the Board of Directors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting duly held on the 2oth day of July, 2010 and by the Board of Directors of ALLEGHENY CASUALTY COMPANY at a meeting duly held on the 1oth day of July, 2015 "RESOLVED, that (1) the Chief Executive Officer, President, Executive Vice President, Vice President, or Secretary of the Corporation shall have the power to appoint, and to revoke the appointments of, Attorneys-in-Fact or agents with power and authority as defined or limited in their respective powers of attorney, and to execute on behalf of the Corporation and affix the Corporation's seal thereto, bonds, undertakings, recognizances, contracts ofindemnity and other written obligations in the nature thereof or related thereto; and (2) any such Officers of the Corporation may appoint and revoke theappointments of joint-control custodians, agents for acceptance of process, and Attorneys-in-fact with authority to execute waivers and consents on behalf of the Corporation; and (3) the signature of any such Officer of the Corporation and the Corporation's seal may be affixed by facsimile to any power of attorney or certification given for the execution of any bond, undertaking, recognizance, contract of indemnity or other written obligation in the nature thereof or related thereto, such signature and seals when so used whether heretofore or hereafter, being hereby adopted by the Corporation as the original signature of such officer and the original seal of the Corporation, to be valid and binding upon the Corporation with the same force and effect as though manually affixed." IN WITNESS WHEREOF, INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY have each executed and attested these presents on this 31st day of December, 2016 STATE OF NEW JERSEY County of Essex George R. James Executive Vice President (International Fidelity Insurance Company) and Vice President (Allegheny Casualty Company) On this 31st day of December, 2016 , before me came the individual who executed the preceding instrument, to me personally known, and, being by me duly sworn, said he is the therein described and authorized officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and of ALLEGHENY CASUAL TY COMPANY; that the seals affixed to said instrument are the Corporate Seals of said Companies; that the said Corporate Seals and his signature were duly affixed by order of the Boards of Directors of said Companies. JN TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal, at the City of Newark, New Jersey the day and year first above written. CERTIFICATION Cathy Cruz a Notary Public of New Jersey My Commission Expires April 16, 2019 l, the undersigned officer of INTERNATIONAL FIDELITY INSURANCE COMPANY and ALLEGHENY CASUAL TY COMPANY do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Sections of the By-Laws of said Companies as set forth in said Power of Attorney, with the originals on file in the home of said companies, 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. IN TESTIMONY WHEREOF, I have hereunto set my hand on this day, A00436/MOC Insurance Services. Maria H. Branco, Assistant Secretary 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 Francisco On September 07 , 2018 ) before me, _ ____,D':'a�r�a�T;---o�u�c�h�,�N�o�t:"'a'::ry:-P'----"'u:":bl"'ic"---------c::---,--------(insert name and title of the officer) personally appeared �R�ac":'h�e�l':-'P�o�rtc-'-e�r'-:--:----:--:----:----:------:-:------,---:----,--------who proved to me on the basis of satisfactory evidence to be the personfs} whose namefs} istare subscribed to the within instrument and acknowledged to me that lle/sheltRey executed the same in Ri&lherAAeif authorized capacityfiest, and that by-il-i&lhefl#le+F signaturefs} on the instrument the personfst, or the entity upon behalf of which the personfs} acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. (Seal)