HomeMy WebLinkAboutT7240-4 16-093 L&M Bond Release LtrB A K E R S F 1 E L D
PUBLIC WORKS DEPARTMENT
NICK FIDLER • DIREC'1'011 • CITI' ENGINEER
March 22, 2017
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
Labor and Materials Bond No. PB00535000126 ($578,146.00)
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 Labor &
Materials Bond No. PB00535000126. The original Labor and Materials Bond is attached.
The Developer will maintain the Maintenance Bond No. PB0053000126 -A ($115,629.00)
from Philadelphia Indemnity Insurance Company. The maintenance bond is required to
guarantee all features of the improvements for a minimum of one year from the date of
recordation of the NOTICE OF COMPLETION AND ACCEPTANCE OF WORK.
You are to maintain your policies of insurance for the duration of the warranty period.
Please submit to the City an updated copy of your Certificate of Insurance.
Should you have any questions regarding the above, please contact Michelle
Mendenhall at (661) 326 -3582.
Very Truly Yours,
Nick Fidler
City Engineer
By: J?Y 9$
Daniel Padilla
Civil Engineer IV - Subdivisions
XC: Reading file
Project file
S: /LANDDIVISION /REDUCE &RELEASE /2017/T7240 -4 16 -093 L &M BOND RELEASE
1600 Truxtun Avenue
Bakersfield • California • 93301
(661)326-3724
Fax (661) 852-2120
www.bakersfieldci tv. us
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