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23-0522_LS-SAN JUAN LLC_Bond Reduction Letter30448 Rancho Viejo Road, Suite 110 San Juan Capistrano, CA 92675 (949) 493-1171 (949) 493-1053 Fax www.SanJuanCapistrano.org May 22, 2023 Philadelphia Indemnity Insurance Company One Bala Plaza, Suite 100 Bala Cynwyd, PA 19004 To whom it may concern: MEMBERS OF THE CITY COUNCIL: Troy Bourne John Campbell Sergio Farias Howard Hart John Taylor This letter is to authorize the reduction of the following Subdivision Improvement Agreement Payment Bond with the City of San Juan Capistrano LS -San Juan LLC for Off - Site Improvements related to SIP 21-001 tract 18148: Performance Bond PB03010408479 from $207,276.00 to $51,819.00 Notice of the reduction of the bond amounts should be sent to the City of San Juan Capistrano, City Clerk's Office, attention Maria Morris, City Clerk, 32400 Paseo Adelanto, San Juan Capistrano, CA 92675. If you have any questions or need clarification, please contact me at (949) 443-6310. Sincerely, 0,,� , Christy Jakl, CMC Assistant City Clerk Cc: Tom Toman, Public Works Director Jeremy Hohnbaum, Senior Civil Engineer Justin Inducil, Engineer Technician