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1981-1203_CROW-SAN JUAN RANCH_Request for Bond Reduction17941 Fitch E 0 Trammell Crow Company Irvine, California 92714 OCT October 6, 1982 City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, CA. 92675 Attention: George Lohnes City Engineer Re: Rancho Viejo Road PM #80-851 Bond #8089 5840 Dear Mr. Lohnes: (714) 641-2960 We respectfully request that our Labor F, Materials Bond for the above mentioned project be reduced to reflect the current status of the road improvements. We realize that the Faithful Performance Bond must be kept at full value, however we feel that since over 75% of the road project is completed, a reduction of our Labor $ Materials Bond could be reduced from $1,812,500.00 to $450,000.00. We are waiting for San Diego Gas F, Electric to act, at which time we will complete the road tie-in at Ortega Highway. Our completed work to date is as follows: Sewer 98% complete Water 98% complete Electric power, telephone $ cable t.v. 100% complete Street paving 86% complete Landscape 75% complete Gas 80% complete Thank your for your help in this matter. Sincerely,!_ -- Ivan C. Simovich Project Manager ICS/css Encl. It (J . 4.. ....... r C " J - f bf ell A-mac-sme"T north