HomeMy WebLinkAboutPM11894 12-116 St Permit Perf Bond ReleaseB A K E R S F I E 1. D
PUBLIC WORKS DEPARTMENT
MCK FIDLER • DIRECTOR • CI'I'1' EN(;INF.ER
June 24, 2016
Rio Bravo Investment Group
855 M Street, Suite 1010
Fresno, California 93721
Re: Security Release for Street Permits 13- 20000659, 14- 20000414,
14- 20000431 and 15- 20001086
Liberty Mutual Insurance Company
Performance Bond No. 070014582 ($1,681,618.00)
To Whom It May Concern:
All improvements for the above - referenced Street Permits have been completed and a
NOTICE OF COMPLETION AND ACCEPTANCE OF WORK was filed on June 16, 2016 by the
City of Bakersfield. This letter is your authorization to release ONLY the Performance Bond
No. 070014582. The original Performance Bond is attached,
The Developer will maintain the Labor and Material Bond No. 070014582 ($840,809.00),
along with three Bond Riders and the Maintenance Bond No. 070014582 ($263,888.60) from
Liberty Mutual 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: .% 04 �Jz
Marian P, Shaw
Civil Engineer IV - Subdivisions
Xc: Reading file
Project file
S: /LANDDIVISION /REDUCE &RELEASE /2016 /PERMITS FOR pm11894 PERF BOND RELEASE
1600 Truxtun Avenue %k «.hakersfieldcity.u.
Bakersfield • California • 93301
(661) 326 - 3724
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Fax(661)852 -2120