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15-0421_LV PACIFIC POINT_Transmittal_Bond Exoneration32400 PASEO ADELANTO SAN JUAN CAPISTRANO, OA 92675 (949) 493-1171 (949) 493-1053 FAX www.sanjuancapistrano.org MEMBERS OF THE CITY COUNCIL SAMALLEVATO KERRY K. FERGUSON RAM PATTERSON, ESQ. JOHN M. PERRY DEREK REEVE May 19, 2015 Ironshore Indemnity Inc. c/o Old Hickory Insurance Agency 12890 Lebanon Rd Mt. Juliet, Tennessee 37122-2870 Attention: Kim Richards Lexon Surety Group c/o Old Hickory Insurance Agency 12890 Lebanon Rd Mt. Juliet, Tennessee 37122-2870 Attention: Kim Richards LV Pacific Point LLC c/o Lehman Brothers Holdings Inc. 3121 Michelson Drive, Suite 200 Irvine, California 92612 Attention: Eric Hoffman RE: Exoneration of Improvement Bonds issued on behalf of LV Pacific Point LLC Dear Mr. Hoffman and Ms. Richards: This letter is to inform you that the subdivision improvement bonds within the enclosed Exhibit A issued to LV Pacific Point LLC, for the Works of Improvement associated with Amendment #1 and Reinstatement to Subdivision Improvement Agreements for Tracts Maps 14196, 15609, 15687, 16747, 16749, 16750, 16751, and 16752 and Amendment 2 and Reinstatement to the Improvement and Reimbursement Agreement as approved by the City Council dated April 21, 2015 are officially released as of May 19, 2015. The City of San Juan Capistrano hereby fully and forever releases and discharges The Lexon Surety Group from any and all liability under the bond numbers as depicted within Exhibit A. The original - released - documents areTenclosed. If you have any questions, please do not hesitate to call me at (949) 443-6310. lorris City Clerk Enclosures as noted cc: (Letter copy only) Keith Van Der Maaten, Public Works and Utilities Director; and, Steve Kooyman, Assistant Public Works Director San Juan Capistrano: Preserving the Past to Enhance the Future Printed on 100% recycled paper EXHIBIT A EXISTING BONDS Location Improvement Type Bond No. Bond Type Amount Street Improvement SUR20000348 Perfoniiance, Labor & Materials $2,571,000,00 Landscaping & Irrigation SUR20000316 Performance, Labor & Materials $155,192.00 c— Water N/A Cash Security $150,000.00 Monumentation SUR20000321 Performance $15,500.00 Street Improvement SUR200003I7 Perfoniiance, Labor & Materials $451,554.00 g in Storm Drain SUR20000318 Performance, Labor & Materials $46,050.00 Sanitary Sewer SUR200003I9 Performance, Labor & Materials $24,293.00 Landscaping & Irrigation SUR20000322 Performance, Labor & Materials $339,425.00 Water SUR20000320 Performance, Labor & Materials $60,665.00 r-Landscaping & Irrigation SUR20000324 Performance, Labor & Materials $15,755.00 •n Monumentation SUR20000323 Performance $10,500.00 f— Grading SUR20000325 Performance, Labor & Materials $662,146.00 Street Improvement SUR20000326 Performance, Labor & Materials $877,524.00 Storm Drain SUR20000327 Performance, Labor & Materials $54,181.00 Sanitary Sewer SUR20000328 Performance, Labor & Materials $37,554.00 Landscaping & Irrigation SUR20000331 Performance, Labor & Materials $461,763.00 h-Water SUR20000329 Performance, Labor & Materials $235,753.00 Grading SUR20000332 Performance, Labor & Materials $108,533.00 Monumentation SLIR20000330 Performance $18,500.00 Monumentation SUR20000333 Performance $14,500.00 Landscaping & Irrigation SUR20000334 Performance, Labor & Materials $85,673.00 o Landscape SUR20000335 Performance. Labor & Materials $419,653.00 Location Improvement Type Bond No. Bond Type Amount Street Improvement SUR20000336 Performance, Labor & Materials $351,589.00 Storm Drain SUR20000337 Performance, Labor & Materials $18,790.00 Sanitary Sewer SUR20000338 Performance, Labor & Materials $22,073.00 £St Landscaping & Irrigation SUR2000034I Performance, Labor & Materials $141,578.00 Water SUR20000339 Performance, Labor & Materials $66,688.00 Monumentation SUR20000340 Performance $14,000.00 Street Improvement SUR20000342 Performance, Labor & Materials $986,932.00 fN Storm Drain SUR20000343 Performance, Labor & Materials $71,118.00 ^ est Sanitary Sewer SUR20000344 Performance, Labor & Materials $85,485.00 Landscaping & Irrigation SUR20000347 Performance, Labor & Materials $949,301.00 Water SUR20000345 Performance, Labor & Materials $102,919.00 Monumentation SUR20000346 Performance $38,500.00 Christy JakI From: Sent: To: Cc: Subject: Attachments: Christy JakI Tuesday, May 26, 2015 11:22 AM Keith Van Der Maaten; Steven Kooyman Manny Ruelas; Marilyn Scarpiello LV Pacific Point Bond Exoneration Transmittal 15-0519_TransmittaLLV Pacific Point_Bond Exoneration.pdf For your records. efmoU^ JuM, CMC Deputy City Clerk City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, CA 92675 (949) 443-6310 | (949) 493-1053 fax City Hall Office Hours Mon - Thurs 7:30 a.m. - 5:30 p.m.; Fri 7:30 a.m. - 4:30 p.m. P/ease share your experience with the City by taking our Survey.