HomeMy WebLinkAboutT6454 15-298 Perf Bond ReturnPUBLIC WORKS DEPARTMENT
NICK FIDLER • DIRECTOR • CITY ENGINEER
April 13, 2016
Froehlich Signature Homes
8501 Brimhall Road, #404
Bakersfield, California 93312
Re: Security Release for Tract 6454
Improvement Agreement No. 15 -298
Citizens Business Bank
Performance Letter of Credit No. 52 -SB -5059 ($454,111.00)
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 April 5, 2016 by the
City of Bakersfield. This letter is your authorization to release ONLY the Performance Letter
of Credit No. 52 -SB -5059.
The Developer will maintain the Labor and Material Letter of Credit No. 52 -SB -5061
($1,087,767.00) and the Maintenance Letter of Credit No. 52 -SB -5095 ($217,553.00) from
Citizens Business Bank. The maintenance Letter of Credit 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.
We are returning the original documents to the bank, along with a copy of this letter.
Should you have any questions regarding the above, please contact Michelle
Mendenhall at (661) 326 -3582.
Very Truly Yours,
Nick Fidler
City Engineer
By;
Marian P. Shaw
Civil Engineer IV - Subdivisions
XC: Reading file: Project file
1600 Truxtun Avenue
Bakersfield • Calitirrnia • 93301
(661)326-3724
Fax (661 ) 852 -2120
www.bakcrstieldcity.us t /ta 4C�^
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PUBLIC WORKS DEPARTMENT
NICK FIDLER • DIRECTOR • CITY ENGINEER
April 13, 2016
Froehlich Signature Homes
8501 Brimhall Road, #404
Bakersfield, California 93312
Re: Security Release for Tract 6454
Improvement Agreement No. 15 -298
Citizens Business Bank
Performance Letter of Credit No. 52 -SB -5059 ($454,111.00)
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 April 5, 2016 by the
City of Bakersfield. This letter is your authorization to release ONLY the Performance Letter
of Credit No. 52 -SB -5059.
The Developer will maintain the Labor and Material Letter of Credit No. 52 -SB -5061
($1,087,767.00) and the Maintenance Letter of Credit No. 52 -SB -5095 ($217,553.00) from
Citizens Business Bank. The maintenance Letter of Credit 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.
We are returning the original documents to the bank, along with a copy of this letter.
Should you have any questions regarding the above, please contact Michelle
Mendenhall at (661) 326 -3582.
Very Truly Yours,
Nick Fidler
City Engineer
By;
Marian P. Shaw
Civil Engineer IV - Subdivisions
XC: Reading file: Project file
1600 Truxtun Avenue
Bakersfield • Calitirrnia • 93301
(661)326-3724
Fax (661 ) 852 -2120
www.bakcrstieldcity.us t /ta 4C�^
41 �
P. P