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HomeMy WebLinkAboutT6757-5 16-122 L&M Bond Release LetterB A K E R S F 1 E L D PUBLIC WORKS DEPARTMENT NICK FIDLF,R • DIRECTOR • CITY ENGINEER January 19, 2017 Lennar Fresno Inc. 8080 No. Palm Avenue, Suite 110 Fresno, California 93711 Re: Security Release for Tract 6757 Phase 5 Improvement Agreement No. 16 -122 Westchester Fire Insurance Company Labor and Materials Bond No. K09283444 ($591,262.00) 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 26, 2016 by the City of Bakersfield. This letter is your authorization to release ONLY the Labor and Materials Bond No. K09283444. The original Labor and Materials Bond is attached. The Developer will maintain the Maintenance Bond No. K09283444 -M ($118,252.30) from Westchester Fire 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 D1 PJ4� Daniel Padilla Acting Civil Engineer IV - Subdivisions XC: Reading file Project file S: /LANDDIVISION /REDUCE &RELEASE /2016/T6757 -5 16 -122 L &M BOND RELEASE 16OU Truxtun Avenue Bakersfield • California • 93301 (661)326-3724 Fax (661) 852 -2120 wwwbakersl i�ldeity.u� 4,10 .4 4".; W P