HomeMy WebLinkAboutT6853-1 14-240 Cash Maint Bond Release MemoPUBLIC WORKS DEPARTMENT
MEMORANDUM
TO: Paul Sheats, Accountant I
FROM: Daniel Padilla, Civil Engineer III
DATE: September 30, 2016
SUBJECT: Tract 6853 Phase 1 AGRMT 14 -240 Cash Maintenance Bond Refund
The Original Cash Bond from Summit Capital Ventures LLC (check number 1508) for
$1,013,889.00 was collected October 2, 2014 - receipt number 32809.
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 March 16, 2015.
Please refund to Summit Capital Ventures LLC, the cash Maintenance Bond amount of
$202,778.00.
Summit Capital Ventures LLC
8701 Swigert Court
Bakersfield, CA 93311
$ 1,013,889.00 Original Cash Bond AGRMT 14 -240
$ 506,944.50 Returned Performance Cash Bond on 3/27/15
$ 304,166.50 Returned Labor and Material Cash Bond on 6/9/15
$ 202,778.00 Total amount to return for Maintenance Cash Bond
xC: Reading File
T6853 -1 File
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S: \LAND DIVISION \REDUCE & RELEASE.SEC \T6853 -1 14 -240 CASH MAINT BOND RELEASE MEMO
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PUBLIC WORKS DEPARTMENT
MEMORANDUM
TO: Paul Sheats, Accountant I
FROM: Daniel Padilla, Civil Engineer III
DATE: September 30, 2016
SUBJECT: Tract 6853 Phase 1 AGRMT 14 -240 Cash Maintenance Bond Refund
The Original Cash Bond from Summit Capital Ventures LLC (check number 1508) for
$1,013,889.00 was collected October 2, 2014 - receipt number 32809.
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 March 16, 2015.
Please refund to Summit Capital Ventures LLC, the cash Maintenance Bond amount of
$202,778.00.
Summit Capital Ventures LLC
8701 Swigert Court
Bakersfield, CA 93311
$ 1,013,889.00 Original Cash Bond AGRMT 14 -240
$ 506,944.50 Returned Performance Cash Bond on 3/27/15
$ 304,166.50 Returned Labor and Material Cash Bond on 6/9/15
$ 202,778.00 Total amount to return for Maintenance Cash Bond
xC: Reading File
T6853 -1 File
mmm
S: \LAND DIVISION \REDUCE & RELEASE.SEC \T6853 -1 14 -240 CASH MAINT BOND RELEASE MEMO
O`1�0 4 F
4•P W P
Summit Capital Ventures LLC Rabobank
8761 Swigert Ct. Southwest
Bakersfield, CA 93311 Bakersfield, CA 93309 90 -3842
661.589 -0717 800 -942 -6222 1222
DOLLAR$
1-�NOne Million Thirteen Thousand Eight Hundred Eighty -Nine and 00/100
I508 Oct 1, 2014 - ** *$1,013,889.00:
i l l i lit. City of Bakersfield y
��Itt�l'It PO BOX 2057
tlt. Bakersfield, CA 93303 -2057
1: 1 2 2 2 384 201:1, S08 930481 LSL711'
M City of Bakersfield
+ix CUSTOMERTRECCEIPPT YDrawe r.
Op r: CLYNCH 1
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Date: 10102!14 37 Receipt no: 32809
Description Quantity Amount
D
RECEIPTS MISC.
1.00 $1013889.00
CASH BOND FOR TRACT 6853 PH 1
PO BY SUMMIT CAPITAL VENTURES
Tender detail 1508 $1013889.00
CK CHECK $1013889.00
Total tendered $1013889.00
Total payment
Trans date: 10102!14 Time: 10:42:20
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