HomeMy WebLinkAboutT7240-1 15-136 Perf Bond Release LtrB A K E R S F 1 E L D
PUBLIC WORKS DEPARTMENT
NICK FIDLER • DIRECTOR • CI'I'1' GNGINEER
March 2, 2016
Woodside 06N, LP
9 River Park Place East # 430
Fresno, California 93720
Re: Security Release for Tract 7240 Phase 1
Improvement Agreement No. 15 -136
Philadelphia Indemnity Insurance Company
Performance Bond No. PB00535000079 ($1,493,863.00)
To Whom It May Concern:
All improvements for the above - referenced Tract Map have been completed and a
NOTICE OF COMPLETION AND ACCEPTANCE OF WORK was filed on January 21, 2016 by
the City of Bakersfield. This letter is your authorization to release ONLY the Performance
Bond No. P600535000079. The original Performance Bond is attached,
The Developer will maintain the Labor and Material Bond No. PB00535000079
($2,062,559.00) and the Maintenance Bond No. PB00535000079 -A ($412,512.00) from
Philadelphia Indemnity Insurance Company. The maintenance bond is required to
guarantee all features of the improvements for a minimum of one year from the date of
recordation of the NOTICE OF COMPLETION AND ACCEPTANCE OF WORK.
You are to maintain your policies of insurance for the duration of the warranty period.
Please submit to the City an updated copy of your Certificate of Insurance.
Should you have any questions regarding the above, please contact Michelle
Mendenhall at (661) 326 -3582.
Very Truly Yours,
Nick Fidler
City Engineer
By: `!{/LLCNiti
Marian P. Shaw
Civil Engineer IV - Subdivisions
XC: Reading file
Project file
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S:/ LANDDIVISION /REDUCEBRELEASE/2016/T7240 -1 15 -136 PERF BOND RELEASE
1600 Truxtun Avenue (661) 326-3724
Bakersfield • Califomia • 93301 ICI&itc.u', Fax (661) 852 -2120