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HomeMy WebLinkAboutT6921 15-112 L&M Bond ReleaseB A K E R S F I E L D PUBLIC WORKS DEPARTMENT NICK FIDLER • DIRECTOR • CITY ENGINEER August 26, 2016 Sablewood Gardens, LLC /Urban Land Advisors, LLC 4927 Calloway Drive, Suite 101 Bakersfield, California 93312 Re: Security Release for Tract 6921 Improvement Agreement No. 15 -112 Developers Surety & Indemnity Company of California Labor and Materials Bond No. 389309S ($657,060.00) 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 May 27, 2016 by the City of Bakersfield. This letter is your authorization to release ONLY the Labor and Materials Bond No. 389309S. The original Labor and Materials Bond is attached. The Developer will maintain the Maintenance Bond No. 389309M ($131,412.11) 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: �Y Daniel Padilla Civil Engineer III - Subdivisions XC: Reading file Project file S: /LANDDIVISION /REDUCE &RELEASE /2016/T6921 15 -112 L &M BOND RELEASE 16(X) Truxtun Avenue www.bakerstieldrity.us Bakersfield • California • 93301 W (661)326-3724 a^i Fax (661) 852 -2120 4,P`w P