1983-0617_CRAIG DEVELOPMENT CORP_Bond ReleaseY
i�
a
F# Yaw A" FTMOVIt"14-1
32400 PASEO ADELANTO
SAN JUAN CAPISTRANO, CALIFORNIA 92675
PHONE. 493-117Y
June 17, 1983
Richard Meredith
Craig Development Corporation
660 Newport Center Drive
Suite 1560
Newport Beach, California 92660
Re:
Dear Mr. Meredith:
is
�j
Enclosed are copies of Resolutions Nos. 83-6-9-3 and
83-6-9-4, which were adopted by the City Council at their meeting
of June 9, 1983. The Resolutions accept the work completed for
the construction of public improvements in Tracts 8087 and 8319.
Staff was authorized to release the following sureties
from Argonaut Insurance, 35 days after recording of the Notice of
Completion:
Tract Bond Amount
T587— Faithful Performance $3437"0
No. 090824
Labor & Materials 359,000
and Monumentation
No. 090824
8319 Faithful Performance $202,100
No. 090823
Labor & Materials $202,100
and Monumentation
No. 090823
0
•
11
Richard Meredith -2- June 17, 1983
The Notices of Completion were recorded on June 13; therefore,
the bonds may be released on July 18, 1983.
The following grading bonds from Safeco Insurance may
be released immediately:
Tract Bond No. Amount
X087 22�j— $71,040
8319 2210964 35,020
Council also took action to continue holding the
$10,000 cash security deposit for landscaping purposes.
If you have any questions, please do not hesitate to
call.
very truly yours,
MARY ANN HANOVER, CMC
City Clerk
MAH/cj
Enclosures
cc: Director of Public Works
Administrative Services
Argonaut Insurance
Safeco Insurance
H.J. Krizan, Orange County
Environmental Management Agency