11-0215_VILLAGE ALIPAZ_Release of Bonds MemorandumJoe Mankawich
From:
Sent:
To:
Cc:
Subject:
George Alvarez
Wednesday, November 13, 2013 2:51 PM
Joe Mankawich
bowen@rutan.com; Keith Van Der Maaten; Maria Morris
Re: Tract 16168 Improvement Bonds
Joe,
Looks good to me.
George
Sent from my iPad
On Nov 13, 2013, at 1:28 PM, "Joe Mankawich" <JMankawich@saniuancapistrano.org> wrote:
Are you going to be in today? I need to get this over to the City Clerk right away so that they may release
the bonds. Evidently First American and Cove Estates want to close escrow on Friday. The bond release
is a requirement of the escrow. If you are not coming in if you could please give me your comment or
approval so that we may be able to meet their escrow time table.
Thanks, Joe
From: Joe Mankawich
Sent: Wednesday, November 13, 2013 9:55 AM
To: bowen@rutan.com
Cc: George Alvarez
Subject: RE: Tract 16168 Improvement Bonds
Here is the memo releasing the old bonds.
<Memo - Release of Surety 111313 .docx>
Hi George,
1
32400 PASEO ADELANTO
SAN JUAN CAPISTRANO, CA 92673
(949)493-1171
(949)493-1033 FAX www.sanj'uancapistrano. org
MEMBERS OF THE CITY COUNCIL
LARRY KRAMER
DEREK REEVE
JOHN TAYLOR
SAMALLEVATO
ROY L. BYRNES, M.D.
November 13, 2013
ULLICO Casually Company
1625 Eye Street
N.W. Washington D.C. 20006
Re: Release of Bond - Subdivision Improvement Agreement Tentative Tract Map 16168
Dear Sir or Madam:
This letter is to inform you that the following bond issued to First American Title Company for
Tract 16186 are officially refeased as of November 13, 2013:
BOND NO. PURPOSE AMOUNT
SB016000244 Landscape and Irrigation $ 31,335,50
SB016000243 Street, Water, Sewer, Storm Water and Monument $113,118,00
The City of San Juan Capistrano hereby fully and forever releases and discharges ULLICO
Casualty Company from any and ali liability under the abovementloned bond number. The
original - released - documents are enclosed. If you have any questions, please do not
hesitate to call me at (949) 443-6310.
Christy Jakl, CMC
Deputy City Clerk
Enclosures as noted
cc: (Letter copy only) George Alvarez, City Engineer; Joe Mankawich, Associate Engineer
Sincerely,
San Juan Capistrano: Preserving the Past-to Enhance the Future
Primed on 100% recycled paper
•
MEMORANDUM November 13, 2013
To: Maria Morris, City Clerk
From: George Alvarez, City Engineer
Subject: Tract 16168 Alipaz Village III (Cove Estates) - Release of Surety
First American Title Company ("First American") is the previous owner of the
approximately one acre vacant land subdivision located within the existing gated Village
Alipaz community, accessible from Alipaz Street, across from South Coast Farms
("Property"), upon which it is contemplated will be developed for four residential homes.
Cove Estates, LLC ("Developer") has purchased the Property from First American. A
condition to the closing of the sale of the Property from First American to the Developer
is the termination of the existing Subdivision Improvement Agreement for the Property
between First American and the City and the exoneration of the corresponding bonds
("First American Bonds"). In order to approve such termination and exoneration, the
City requires that the Developer enter into a new Subdivision Improvement Agreement
with the City and provide replacement security.
The City has received the new Subdivision Improvement Agreement and Improvement
Bonds for the tract. With the furnishing of new bonds for the improvements as noted in
the summary above, the bond release is recommended as follows:
SURETY COVERAGE
(Ullico Casualty Company)
Bond Number Type of Improvement Bond Amount
Bond #SB016000243 Street, Water, Sewer, Storm Drain
and Monumentation $113,188.00
Bond #SB016000244 Landscape & Irrigation $ 31,335.50
Attachment: City Council Item approving change of ownership.
CC: Joe Mankawich, Associate Engineer
MEMORANDUM January 20, 2011
TO: Maria Qisesm&', City Cierk
FROM: Sam Shoucair, Assistant Pubiic Works Director
SUBJECT: Tract 16168 - Village Aiipaz- Bond submittal.
in connection with the development of the subject tract and in accordance with it's
subdivision improvement Agreement, please find attached, for your files, the original sets
of the foiiowing improvement bonds amounts, including Water, that were submitted by the
Developer (First American Title Company).
Street and Related appurtenances $37,000
Storm Drain
Sanitary Sewer
$29,414
$23,350
$ 18,424
$ 113,188
Water and related appurtenances
(110% of improvement Cost)
Total above improvements
Landscaping and irrigation $31,335