HomeMy WebLinkAboutPW15-197 9700 Panama L&M Bond Release LtrB A lh E R S F I E L D
PUBLIC WORKS DEPARTMENT
NICK FIDLER • DIRECTOR • CITY ENGINEER
December 15, 2016
Wallace & Smith Contractors
3325 Landco Drive
Bakersfield, California 93308
Re: Security Release for PW15 -197
Federal Insurance Company
Labor and Materials Bond No,
To Whom It May Concern:
Agreement - 9700 Panama Lane
8233 -94 -51 ($426,311.00)
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 Labor and Materials Bond No. 8233- 94 -51. The original Labor and Materials Bond is
attached.
The Developer will maintain the 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 Engineer
By: Di
Daniel Padi la
Civil Engineer III - Subdivisions
XC: Reading file
Project file
S: /LANDDIVISION /REDUCE &RELEASE /2016 /PW15 -197 9700 PANAMA L &M BOND RELEASE
1600 Truxtun Avenue www.bakersfieldcitr.us
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