HomeMy WebLinkAboutT7300-1 17-082 Perf Bond ReturnB a K E R S F I E L D
PUBLIC WORKS DEPARTMENT
NICK FIDLER • DIRECTOR • CITY ENGINEER
April 10, 2018
Castle & Cooke California, Inc.
P.O. Box 11165
Bakersfield, California 93389-1165
Re: Security Release for Tract 7300 Phase 1
Improvement Agreement No. 17 -082
Lexon Insurance Company
Performance Bond No. 1143847 ($2,359,885.00)
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 April 2, 2018 by the
City of Bakersfield. This letter is your authorization to release ONLY the Performance Bond
No. 1143847. The original Performance Bond is attached.
The Developer will maintain the Labor and Material Bond No. 1143847 ($1,179,943.00) and
the Maintenance Bond No. 1153714 ($235,989.00) from Lexon 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 Kirk Boland at (661)
326 -3595.
Very Truly Yours,
Nick Fidler
City Engineer
B DJ P
By:
Daniel Padilla
Civil Engineer IV - Subdivisions
XC: Reading file
Project file
S: /LANDDIVISION /REDUCE &RELEASE /2018fT7300 -1 17 -082 PERF BOND RELEASE
1600 Truxtun Avenue
Bakersfield • California • 93301
(661)326-3724
Fax(661)852 -2120
www.bakersfieldcity.us
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