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13-0221_CASTER SAN JUAN CAPISTRANO_Authorization to Reduce BondMEMORANDUM October?, 2013 TO: Maria Morris, City Clerk Keith Van Der Maaten, Public Works & Utilities Director FROM: SUBJECT: Grading Bond Reduction - A-1 Self Storage, 33000 Valle Road #B12-0731 This memorandum is authorization to reduce the grading bond posted for A-1 Self storage located at 33000 Valle Road from $191,465.00 to $38,293.00. The grading and on-site improvements that were secured by the bond have been completed sufficiently to warrant the reduction of 80% of the bond place. A Performance Bond posted with Intemational Fidelity Insurance Company, Bond Number 0613748, was posted as security for the bond. A copy of the Surety Agreement and Performance Bond is attached for your information. Please memorialize this reduction by a letter of notification to the bonding company associated. If you have any questions, please contact me. Attachment cc: file • if 32400 PASEO ADELANTO SAN JUAN CAPISTRANO, CA 92675 (949) 493-1171 (949) 493-1053 FAX www.siiiijiiiiiutiplstniita.ar-g MEMBERS OF THE CITY COUNCIL lARRY KRAMER DEREK REEVE JOHN TAYLOR SAWALLEVATO ROY L. BYRNES. M.D. Octobers, 2013 International Fidelity Insurance Company 1 Newark Center, 20'^ Floor Newark, New Jersey 07102-5207 To whom it may concern: This letter is to authorize the reduction of the following bond posted with the City of San Juan Capistrano by Caster San Juan Capistrano, a California Limited Partnership for Grading Permit No. B12-0731, 33000 Valle Road, commonly referred to as A-1 Self Storage: Performance Bond 0613748 from $191,465.00 to $38,293.00 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. Christy JakI, CMC Deputy City Clerk Cc: Keith Van Der Maaten, Public Works and Utilities Director Frank McKay, Building and Grading Inspector Tom Kearney, Construction Manager - Caster Properties, Inc. Sincerely, San Juan Capistrano: Presening the Past to Enhance the Future CASTER Properties, Inc. -Family owned business since 1959" 4607 Mission Gorge Place San Diego, CA 92120 Phone (619) 287-8873 Fax (619) 287-2493 www. a Isto rage.com October 2, 2013 Mr. Frank McKay Building & Grading Inspector City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, CA 92675 Re: Grading Pennit #B 12-0731 A-1 Self Storage 33000 Valle Rd. San Juan Capistrano Dear Mr. McKay: Please allow this letter to serve as our request to have the above referenced grading bond reduced by 80%. As evidenced in the field, grading operations have been substantially completed at this time. Please let me know if you have any questions or need anything further from us to complete this request. Sincerely, Grading Perfomance Bond #613 748 $,91,465.00 ^^./^ A^^/, Tom Kearney Construction Manager Caster Properties Inc. TKVgs Cc: SASC Surety Associates Attention: Anne Wright