HomeMy WebLinkAboutT6796-2 15-251 LOC Reduction LetterPUBLIC WORKS DEPARTMENT
NICK FIDLER • DIRECTOR • CITY ENGINEER
August 25, 2016
Froehlich, Inc.
8501 Brimhall Road, Suite 404
Bakersfield, California 93312
Re: Security Reduction for Tract 6796 Phase 2
Improvement Agreement No. 15 -251
Wells Fargo Bank Irrevocable Standy Letter of Credit No. IS0323045U ($553,941.00)
To Whom It May Concern:
All improvements for the above - referenced tract have been completed and a NOTICE OF
COMPLETION AND ACCEPTANCE OF WORK has been approved by the City and was recorded
May 19, 2016. This letter is your authorization to reduce the Wells Fargo Irrevocable Standby
Letter of Credit No. IS0323045U, in the amount of $553,941.00 to $89,353.00.
The Maintenance LOC is required to guarantee all features of the improvements for a
minimum of eighteen months from the date of recordation of the NOTICE OF COMPLETION AND
ACCEPTANCE OF WORK. Should you have any questions regarding the above, please contact
Michelle Mendenhall at (661) 326 -3582.
Very Truly Yours,
Nick Fidler
City Engineer
By: 'PJ PJ4
Daniel Padilla
Civil Engineer III - Subdivisions
mmm
cc: Reading File
Project File
S: /LAND DIVISION /REDUCE &RELEASE /2016/76796 -2 15 -251 LOC REDUCTION
16(X) Truxtun Avenue
Bakersfield • California • 93301
(661)326-3724
Fax (661) 8.52 -2120
www.bakersfieldchy.us
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PUBLIC WORKS DEPARTMENT
NICK FIDLER • DIRECTOR • CITY ENGINEER
August 25, 2016
Froehlich, Inc.
8501 Brimhall Road, Suite 404
Bakersfield, California 93312
Re: Security Reduction for Tract 6796 Phase 2
Improvement Agreement No. 15 -251
Wells Fargo Bank Irrevocable Standy Letter of Credit No. IS0323045U ($553,941.00)
To Whom It May Concern:
All improvements for the above - referenced tract have been completed and a NOTICE OF
COMPLETION AND ACCEPTANCE OF WORK has been approved by the City and was recorded
May 19, 2016. This letter is your authorization to reduce the Wells Fargo Irrevocable Standby
Letter of Credit No. IS0323045U, in the amount of $553,941.00 to $89,353.00.
The Maintenance LOC is required to guarantee all features of the improvements for a
minimum of eighteen months from the date of recordation of the NOTICE OF COMPLETION AND
ACCEPTANCE OF WORK. Should you have any questions regarding the above, please contact
Michelle Mendenhall at (661) 326 -3582.
Very Truly Yours,
Nick Fidler
City Engineer
By: 'PJ PJ4
Daniel Padilla
Civil Engineer III - Subdivisions
mmm
cc: Reading File
Project File
S: /LAND DIVISION /REDUCE &RELEASE /2016/76796 -2 15 -251 LOC REDUCTION
16(X) Truxtun Avenue
Bakersfield • California • 93301
(661)326-3724
Fax (661) 8.52 -2120
www.bakersfieldchy.us
*r&�' t
i
W W9