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HomeMy WebLinkAboutPW15-197 9700 Panama Ln Perf Bond ReleasePUBLIC WORKS DEPARTMENT NICK FIDI.ER - DIRECTOR - CITY ENGINEER September 7, 2016 Wallace & Smith Contractors 3325 Landco Drive Bakersfield, California 93308 Re: Security Release for PW15 -197 Agreement - 9700 Panama Lane Federal Insurance Company Performance Bond No. 8233 -94 -52 ($852,622.00) To Whom It May Concern: All improvements for the above - referenced Public Works Agreement have been completed and a NOTICE OF COMPLETION AND ACCEPTANCE OF WORK was filed on August 30, 2016 by the City of Bakersfield. This letter is your authorization to release ONLY the Performance Bond No. 8233- 94 -52. The original Performance Bond is attached. The Developer will maintain the Labor and Material Bond No. 8233 -94 -51 ($426,311.00), and Maintenance Bond No. 8233- 94 -52 -M ($85,262.20) from Federal 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 EngineerQQ By: Vaniel 1 Padilla Civil Engineer III - Subdivisions XC: Reading file Project file S:/ LANDDIVISION /REDUCE&RELEASE/2016 /PW15 -197 9700 PANAMA PERF BOND RELEASE 1600 Truxtun Avenue www.bakersfieldcity.us Bakersfield - California - 93301 (661)326-3724 a i Fax (661) 852 -2120 4`W P 0�r_ 0 B A K E R S F I E L D PUBLIC WORKS DEPARTMENT NICK FIDI.ER - DIRECTOR - CITY ENGINEER September 7, 2016 Wallace & Smith Contractors 3325 Landco Drive Bakersfield, California 93308 Re: Security Release for PW15 -197 Agreement - 9700 Panama Lane Federal Insurance Company Performance Bond No. 8233 -94 -52 ($852,622.00) To Whom It May Concern: All improvements for the above - referenced Public Works Agreement have been completed and a NOTICE OF COMPLETION AND ACCEPTANCE OF WORK was filed on August 30, 2016 by the City of Bakersfield. This letter is your authorization to release ONLY the Performance Bond No. 8233- 94 -52. The original Performance Bond is attached. The Developer will maintain the Labor and Material Bond No. 8233 -94 -51 ($426,311.00), and Maintenance Bond No. 8233- 94 -52 -M ($85,262.20) from Federal 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 EngineerQQ By: Vaniel 1 Padilla Civil Engineer III - Subdivisions XC: Reading file Project file S:/ LANDDIVISION /REDUCE&RELEASE/2016 /PW15 -197 9700 PANAMA PERF BOND RELEASE 1600 Truxtun Avenue www.bakersfieldcity.us Bakersfield - California - 93301 (661)326-3724 a i Fax (661) 852 -2120 4`W P