HomeMy WebLinkAboutT7222-1 15-222 L&M Bond Release LtrB A K E R S F ( E L D
PUBLIC WORKS DEPARTMENT
NICK FIDLER • DIRECTOR • CITY ENGINEER
September 30, 2016
MLDP Investment I, LLC; DTJ Development, LLC
4927 Calloway Drive, Suite 101
Bakersfield, California 93312
Re: Security Release for Tract 7222 Phase 1
Improvement Agreement No. 15 -222
Developers Surety & Indemnity Company of California
Labor and Material Bond No. 389319S ($1,056,371.00)
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 June 28, 2016 by the
City of Bakersfield. This letter is your authorization to release ONLY the Labor and Material
Bond No. 389319S. The original Labor and Material Bond is attached.
The Developer will maintain the Maintenance Bond No. 389319M ($211,274.20) 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:
anieI Padilla
Acting Civil Engineer IV - Subdivisions
XC: Reading file
Project file
S: /LANDDIVISION /REDUCE &RELEASE /2016/T7222 -1 15 -222 L &M BOND RELEASE
1600 Truxtun Avenue
Bakersfield • California • 93301
(661)326-3724
Fax (661) 852 -2120
www.hakersfieldgity.us
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