HomeMy WebLinkAboutT6444-10 16-055 Perf Bond Release LtrB A K E R S F I E L D
PUBLIC WORKS DEPARTMENT
NICK FIDUR • DIRECTOR • CITY ENGINEET
December 14, 2016
K. Hovnanian's Four Seasons at Bakersfield LLC
400 Exchange, Suite 200
Irvine, California 92602
Re: Security Release for Tract 6444 Phase 10
Improvement Agreement No. 16 -055
Lexon Insurance Company
Performance Bond No. 1134429 ($258,394.00)
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 October 12, 2016 by
the City of Bakersfield. This letter is your authorization to release ONLY the Performance
Bond No. 1134429. The original Performance Bond is attached.
The Developer will maintain the Labor and Material Bond No. 1134429 ($129,197.00) and
the Maintenance Bond No. 1134498 ($25,839.00) from Lexon 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. y Engineer a
B Da
nieI Padilla
Acting Civil Engineer IV - Subdivisions
XC: Reading file
Project file
S: /IANDDIVISION /REDUCE &RELEASE /2016rr6444 -10 16 -055 PERF BOND RELEASE
1600 Truxtun Avenue www.bakersrieldeity.us
Bakersfield • California • 93301
(661)326-3724 - �^
Fax (661) 852 -2120
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