Lennar Homes of California, Inc. Bond Reduction Letter TM31098 30082943MENIFEE ?9844 Hdun Ro.rcr M-"n fee. CA 92586
951 612 6777 Fnx 951 679.38'13
New. Better. Best.cityotmenitee.us
November 21, 2022
Lennar Homes of California
Attn: Bryce Fleming
980 Montecito Road, Suite 302
Corona, Ca 92879
RE: Lennar Homes ofCalifornia, City of Menifee, TM No. 31098
Partial Bond Release, Bond No. 30082943
To whom it may concern,
The City of Menifee's Engineering Department has approved a 50o/o release of the Faithful
Performance Bond for TM No. 31098, based on all conditions being satisfied.
Faithful Performance Bond No.30082943 will be reduced from $12,370,000 to $6,185,000 based on
the approved 500/o release.
Below you will find the tentative schedule ofrelease for Bond No. 30082943:
Enclosed is a copy of the original bond for your reference. Please note, the Material and Labor Bond will
be fully released per standard City policy 90 days after acceptance ofpublic improvements.
Sin relv'
i lar
M ment Analyst, Ciry Clerk's Office
Matt Liesemeyer
(lounailnr''rlrlJi l
Dr,;tflct 2
Armando G. Villa
L'ily Mnrr,rilar
30082943 [Faithful Performance Bond)$12,370,000 $6,185,000
30082943 (Materials & Labor Bond)$6,185,000 $6,185,000
Bill Zimmerman
Il, ry( )r
Dean Deines
lvlnyor l'ro fEIrr
L)rltri.l 4
Bob Karwin
Cirflncrlr)rt rrl)r'r
Drslllcl 1
Less A. Sobek
Coun( ilrrrr'nri)ar
Drstr (l f
Original
Bontl
Arnotrtt
Relea secl
ArnoLrnt
$6, l85,000
Re lea se
Datc
rt/21/22
Bond No.Bond Amotrnt
being withcld
II MENIFEE 29844 Haun Road I Menifee, CA 92586
951-672-6777 I Fax 951-679'3843
New. Better. Best.cityofmenifee.us
November 17, 2022
Kay Vinson
Acting City Clerk
City of Menifee
RE: 50% Faithful Performance Bond Reduction for Tract Map No. 3'1098
Dear Kay,
Applicant (Lennar Homes) has requested a 50% release of their faithful performance bonds for
TM 31098. Lennar has remitted all fees/deposits required to process this request. The p@ect
manager has confirmed that improvements have been completed at a level that warrants a partial
bond release and has approved a 50% release of the faithful performance bond. Material and
labor bond will be released per City policy following full acceptance of the public improvements.
Original lmprovement Bonds for Tract Map No. 31098
Please mail bond reduction letter to:Please email bond reduction letter to:
Lennar Homes of California
Attn: Bryce Fleming
980 Montecito Road, Suite 302
Corona, CA 92879
lf you have any questions, please contact Kris Jensen.
Sincerely,
kiensen@citvofmenifee.us
crobinson@citvofmenifee. us
Brvce.fleminq@lennar.com
danabieber@cox.net
'J
DanieI
Deputy
hu
Padilla, P.E.
Public Works Director/City Engineer
Streets/Drainage 30082943 $ 9,810,500 $ 4,905,250
Water System 30082943 $ 931,500 $ 465,750
Recycled Water
System 30082943 $ 486,s00 $ 243,250
Sewer System 30082943 $ 1 ,141 ,soo $ 570,750
Total:$ 6,185,000
Faithful Performance
(Original Amount)
Faithful Performance
(50% Reduction)lmprovement Security
$ 12,370,000
CITY OF MENIFEE
ENGINEERlNG OEPARTMENT
APPLICATION FOR BONDS
Xgona Reduclion, $710 Fee + Oeposit determined by staff (1 set ot spproved plans required)
tr Bond Replacement, $7'10 Fee + Oeposit determined by staff (1 set of approved plansrequired)
o Bond Release, $710 Fee + Oeposat delermined by staff
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tr Grading
E Monument
UV Landscape
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Mailing Address
Email ce
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FINAL INSPECTION BY:APPROVAL OATE SIGNATURE
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