HomeMy WebLinkAboutPM12166-1 15-307 Performance LOC Release LtrPUBLIC WORKS DEPARTMENT
NICK FIDLER - DIRECTOR - CITY ENGINEER
April 27, 2017
Bolthouse Properties, LLC
11601 Bolthouse Drive # 200
Bakersfield, Calfornia 93311
Re: Security Release for Parcel Map 12166 Phase 1
Improvement Agreement No. 15 -307
First Republic Bank Performance Letter of Credit No. 77- 555366 -4 ($546,649.80)
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 April 26, 2017 by the
City of Bakersfield. This letter is your authorization to release ONLY the Performance Letter
of Credit No. 77- 555366.
The Developer will maintain the Labor and Material Letter of Credit No. 77- 555725 -1
($273,324.90) and the Maintenance Letter of Credit No. 77- 567133 -4 ($54,664.98) from First
Republic Bank. The maintenance Letter of Credit 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.
We are returning the original document to the bank, along with a copy of this letter.
Should you have any questions regarding the above, please contact Michelle
Mendenhall at (661) 326 -3582.
Very Truly Yours,
Nick Fidler
City Engineer
By: D � 4
Daniel Padilla
Civil Engineer IV - Subdivisions
XC: Reading file; Project file
S: /LANDDIVISION /REDUCE &RELEASE /2017 /PM12166 -1 15 -307 PERF LOC RELEASE
16(X) Truxtun Avenue %N.hake1_S1MdciU.0
Bakersfield - Califomia - 93301
(661)326-3724
Q �
Fax (661) 852-2120
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PUBLIC WORKS DEPARTMENT
NICK FIDLER - DIRECTOR - CITY ENGINEER
April 27, 2017
Bolthouse Properties, LLC
11601 Bolthouse Drive # 200
Bakersfield, Calfornia 93311
Re: Security Release for Parcel Map 12166 Phase 1
Improvement Agreement No. 15 -307
First Republic Bank Performance Letter of Credit No. 77- 555366 -4 ($546,649.80)
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 April 26, 2017 by the
City of Bakersfield. This letter is your authorization to release ONLY the Performance Letter
of Credit No. 77- 555366.
The Developer will maintain the Labor and Material Letter of Credit No. 77- 555725 -1
($273,324.90) and the Maintenance Letter of Credit No. 77- 567133 -4 ($54,664.98) from First
Republic Bank. The maintenance Letter of Credit 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.
We are returning the original document to the bank, along with a copy of this letter.
Should you have any questions regarding the above, please contact Michelle
Mendenhall at (661) 326 -3582.
Very Truly Yours,
Nick Fidler
City Engineer
By: D � 4
Daniel Padilla
Civil Engineer IV - Subdivisions
XC: Reading file; Project file
S: /LANDDIVISION /REDUCE &RELEASE /2017 /PM12166 -1 15 -307 PERF LOC RELEASE
16(X) Truxtun Avenue %N.hake1_S1MdciU.0
Bakersfield - Califomia - 93301
(661)326-3724
Q �
Fax (661) 852-2120
�0`W P