HomeMy WebLinkAboutT7222-1 15-222 Perf Bond Release LtrB A K E R S F I E 1. D
PUBLIC WORKS DEPAR'T'MENT
NICK FIDLER • DIRE'CTOR • CITY ENCINEER
July 6, 2016
MLDP Investment I, LLC; DTJ Development, LLC
4927 Calloway Drive, Suite 101
Bakersfield, California 93312
Re: Security Release for Tract 7222 Phase 1
Improvement Agreement No. 15 -222
Developers Surety & Indemnity Company of California
Performance Bond No, 389319S ($285,730.00)
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 June 28, 2016 by the
City of Bakersfield. This letter is your authorization to release ONLY the Performance Bond
No. 389319S. The original Performance Bond is attached.
The Developer will maintain the Labor and Material Bond No. 389319S ($1,056,371.00) and
the Maintenance Bond No. 389319M ($211,274.20) from Developers Surety & Indemnity
Company of California. 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:
Marian P. Shaw
Civil Engineer IV - Subdivisions
XC: Reading file
Project file
S: /LANDDIVISION /REDUCE &RELEASE /2016/T7222 -1 15 -222 PERF BOND RELEASE
1600 Truxtun Avenue www.bakerstieldcityms
Bakersfield -Cali fornia • 93301
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