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SUBDIVISION BOND <br />Principal Amount: $524,025.00 <br />KNOW ALL MEN BY THESE PRESENTS, that we <br />Green Development Ventures LLC <br />2186 E. Centre Street. Portage, MI 49002 <br />as Principal, and <br />Lexon Insurance Company <br />12890 Lebanon Road Mt. Juliet TN 37122 a TX <br />Corporation, as Surety, are held and firmly bound unto <br />City of South Bend , <br />227 West Jefferson Blvd.. South Bend. IN 46601 <br />as Obligee, in the penal sum of <br />Five Hundred Twenty Four Thousand Twenty Five Dollars and 001100 <br />(Dollars) ($ 524 025.00 }, lawful money of the <br />United States of America, for the payment of which well and truly to be made, we bind ourselves, <br />our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these <br />presents. <br />WHEREAS, Green Development Ventures, LLC __ has agreed to construct in <br />Willowote Trails Section 3 Subdivision, in South Bend. IN the following <br />improvements: <br />Installation of Public Sanitary Sewer and Watermain. <br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said <br />Principal shall construct, or have constructed, the improvements herein described, and shall save the <br />Obligee harmless from any loss, cost or damage by reason of its failure to complete said work, then <br />this obligation shall be null and void otherwise to remain in full force and effect, and the Surety, <br />upon receipt of a resolution of the Obligee indicating that the improvements have not been installed <br />or completed, will complete the improvements or pay to the Obligee such amount up to the <br />Principal amount of this bond which will allow the Obligee to complete the improvements. <br />Upon approval by the Obligee, this instrument may be proportionately reduced as the public <br />improvements are completed. <br />Signed, sealed and dated, this 24th day of July , 2024 <br />Green Development Ventures, LL <br />Frincal <br />Ely: <br />Lexon Insurance Company <br />Surety SEAK. AW4 <br />a H,w w <br />By; —"�& <br />Stephen T. azmer Attfllrl -tn-Fact <br />