HomeMy WebLinkAboutT6364-6 15-207 L&M Bond ReturnB A K ///10001Z-��
E R S F 1 E L D
PUBLIC WORKS DEPARTMENT
NICK FIDLER • DIRECTOR • CITY ENGINEER
June 24, 2016
Symbolic Investment & Operating Company, LLC
1800 Westwind Drive, Suite 401
Bakersfield, California 93301
Re: Security Release for Tract 6364 Phase 6
Improvement Agreement No. 15 -207
Philadelphia Indemnity Insurance Company
Labor and Materials Bond No. PB1 1 51 0702437 ($334,096.00)
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 March 24, 2016 by the
City of Bakersfield. This letter is your authorization to release ONLY the Labor and Materials
Bond No. PB 11510702437. The original Labor and Materials Bond is attached.
The Developer will maintain the Maintenance Bond No. PB1 1510702437 ($66,819.00) 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 (rr (�
By: _P44 km
-or Marian P. Shaw
Civil Engineer IV - Subdivisions
XC: Reading file
Project file
S: /LANDDIVISION /REDUCE &RELEASE /2016/T6364 -6 15 -207 L &M BOND RELEASE
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