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23-0420_DEVELOPMENT SOLUTIONS OAK, LLC_Bond Reduction Letter April 20, 2023 Philadelphia Indemnity Insurance Company One Bala Plaza, Suite 100 Bala Cynwyd, PA 19004 To whom it may concern: This letter is to authorize the reduction of the following Grading Surety Agreement Performance Bond with the City of San Juan Capistrano and Development Solutions Oak, LLC for work consisting of furnishing of all labor, materials, tools, equipment, services and incidentals for tract 17441: Performance Bond PB10163700298 from $53,869.00 to $5,386.90 Performance Bond PB10163700374 from $190,663.00 to $19,066.30 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, Christy Jakl, CMC Assistant City Clerk Cc: Tom Toman, Public Works Director Jeremy Hohnbaum, Senior Civil Engineer