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1981-0217_BELFORD TERRACE_Item Minutes0 0 7. EXCHANGE OF GRADING SURETY, TRACT 9382, ORTEGA HIGHWAY (MAURER) (38) Written Communications: (49) Report dated February 17, 1981, from the Director of (85) Public Works, advising that the major grading work for Tract 9382 has been completed and requesting that the City accept a new Maintenance and Fine Grading Bond. Release of Surety: The following bond from Covenant Mutual Insurance Co. is to be released upon expiration of 35 days from recording of the Notice of Completion: Bond Amount Grading Bond, No. 009098 $160,000 Staff was authorized to accept the new Maintenance and Fine Grading Bond in the amount of $35,000