HomeMy WebLinkAboutPM11810 15-012 Perf Bond Release LtrB A K E R S F I E L D
PUBLIC WORKS DEPARTMENT
NICK FIDLER • DIRECTOR • c['rY ENGINEER
July 6, 2016
Roll Real Estate Development, LLC
4805 Centennial Plaza Way, Suite 100
Bakersfield, California 93312
Re: Security Release for Parcel Map 11810
Improvement Agreement No. 15 -012 and Street Permit No. 14- 20001958
Liberty Mutual Insurance Company
Performance Bond No, 024059771 ($1,816,881.60)
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. 024059771. The original Performance Bond is attached.
The Developer will maintain the Labor and Material Bond No. 024059771 ($893,440.80) and
the Maintenance Bond No. K08908734M ($359,569.60) 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: t,L
Marian P. Shaw
Civil Engineer IV - Subdivisions
XC: Reading file
Project file
S: /LANDDIVISION /REDUCE &RELEASE /2016/PM11810 15 -012 & ST NO 14- 20001958 PERF BOND RELEASE
1600 Truxtun Avenue
Bakersfield • California • 93301
(661)326-3724
Fax (661) 852 -2120
www.bakersf ieldcity.u�
Wo`��O 4 cF
.r . "Y
4`W P