HomeMy WebLinkAboutT6362-2 15-024 Cash Maint Bond Release MemoB A K E R S F I E L D
PUBLIC WORKS DEPARTMENT
MEMORANDUM
TO: Paul Sheats, Accountant I
FROM: Daniel Padilla, Civil Engineer III �c
DATE: September 26, 2016
SUBJECT: Tract 6362 Phase 2 Improvement Agreement 15 -024
Cash Maintenance Bond Refund
The Original Cash Bond from Summit Capital Ventures LLC (check number 1579) for
$1,021,567.00 was collected January 23, 2015 - receipt number 59988.
All of the improvements for the above - referenced tract were completed and a NOTICE
OF COMPLETION AND ACCEPTANCE OF WORK was approved by the City and recorded
on August 12, 2015.
We refunded to Summit Capital Ventures LLC the cash Performance Bond amount of
$110,915.00 on August 14, 2015, and the cash Labor and Material Bond amount of
$728,522.00 on November 17, 2015. Please refund to Summit Capital Ventures LLC, the
cash Maintenance Bond amount of $182,130.00.
Summit Capital Ventures LLC
8701 Swigert Court
Bakersfield, CA 93311
(661) 589 -0717
$ 1,021,567.00 Original Cash Bond AGRMT 15 -024
$ 110,915.00 Returned Cash Performance Bond
$ 728,522.00 Returned Cash Labor and Material Bond
$ 182,130.00 Total amount to return
xc: Reading File
Project File
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S: \LAND DIVISION \REDUCE & RELEASE.SE \2016 \T6362 -21MP AGR 15 -024 CASH MAINT BOND REFUND
O`t�O 4 CF
Q•P.W •P
41 City of Bakersfield
*** CUSTOMER RECEIPT * **
Oper: MMENDENHAL Type: OC Drawer: 1
Date: 1/23/15 34 Receipt no: 59988
Description Quantity Amount
92 RECEIPTS MISC.
1.00 $1021567.00
SUMMIT CAPITAL VENTURES LLC
TRACT 6362 PHASE 2
CASH BOND FOR IMPROVEMENT
AGREEMENT FOR SEWER, SD,
STREET, WATER AND WALL
IMPROVEMENTS.
MM
Tender detail
CK CHECK
Total tendered
Total payment
Trans date: 1/23/15
1579 $1021567.00
$1021567.00
$1021567.00
Time: 14:08:49
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EXHIBIT D