HomeMy WebLinkAboutT6250-14 14-107 Perf Bond ReleaseB A K E R S F I E L D
PUBLIC WORKS DEPARTMENT
NICK FIDLER • DIRECTOR • CITY ENGINEER
May 27, 2016
Castle & Cooke California Inc.
P.O. Box 11165
Bakersfield, California 93389
Re: Security Release for Tract 6250 Phase 14
Improvement Agreement No. 14 -107
Lexon Insurance Company
Performance Bond No, 1097959 ($728,527.00)
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 May 27, 2016 by the
City of Bakersfield. This letter is your authorization to release ONLY the Performance Bond
No. 1097959. The original Performance Bond is attached.
The Developer will maintain the Labor and Material Bond No. 1097959 ($364,264.00) and
the Maintenance Bond No. 1136865 ($72,853.00) from Lexon 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 Engine r
By:
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Civil Engineer IV - Subdivisions
XC: Reading file
Project file
S: /LANDDIVISION /REDUCE &RELEASE /2016/T6250 -14 14 -107 PERF BOND RELEASE
1600 Truxtun Avenue www.hakersfieldeity.us
Bakersfield • California • 93301
(661)326-3724
Fax (661) 852 -2120
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