HomeMy WebLinkAboutPM11894 12-116 Perf Bond Return LetterB N E E R S F 1 E 1, D
PUBLIC WORKS DEPARTMENT
NICK FIDLER • DIRECTOR • CITY F.NCINEER
June 24, 2016
Rio Bravo Investment Group
855 M Street, Suite 1010
Fresno, California 93721
Re: Security Release for Parcel Map 11894
Improvement Agreement No. 12 -116
Liberty Mutual Insurance Company
Performance Bond No. 070010924 ($1,426,859.00)
To Whom It May Concern:
All improvements for the above - referenced Parcel Map have been completed and a
NOTICE OF COMPLETION AND ACCEPTANCE OF WORK was filed on June 21, 2016 by the
City of Bakersfield. This letter is your authorization to release ONLY the Performance Bond
No. 070010924. The original Performance Bond is attached.
The Developer will maintain the Labor and Material Bond No. 070010924 ($1,426,859.00)
and the Maintenance Bond No. 070010924 ($142,686.00) 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: -Dua Pit
Marian P. Shaw
Civil Engineer IV - Subdivisions
Xc: Reading file
Project file
S: /LANDDIVISION /REDUCE &RELEASE /2016 /PM11894 12 -116 PERF BOND RELEASE
16(x) Truxtun Avenue ".hakersfieldcity.us
Bakersfield • California • 93301
(661)326-37-'14 .�
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Fax (661) 852 -2120
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