HomeMy WebLinkAboutT7240-4 16-093 Perf Bond Release LetterB A K E R S F 1 E L D
PUBLIC WORKS DEPARTMENT
NICK FIDLE:R - DIRECTOR - CITY ENGINEER
December 30, 2016
Woodside 06N, LP
9 River Park Place East #430
Fresno, California 93720
Re: Security Release for Tract 7240 Phase 4
Improvement Agreement No. 16 -093
Philadelphia Indemnity Insurance Company
Performance Bond No. PB00535000126($643,568.00)
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 December 22, 2016 by
the City of Bakersfield. This letter is your authorization to release ONLY the Performance
Bond No. PB00535000126. The original Performance Bond is attached.
The Developer will maintain the Labor and Material Bond No. PB00535000126 ($578,146.00)
and the Maintenance Bond No. PB0053000126 -A ($115,629.00) from Philadelphia
Indemnity 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:
Daniel Padilla
Acting Civil Engineer IV - Subdivisions
XC: Reading file
Project file
S: /LANDDIVISION /REDUCE &RELEASE /2016/T7240 -4 16 -093 PERF BOND RELEASE
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