KB Home Coastal, Inc. Bond Reduction Letter TM30142-1 K07948116MENIFEE 29844 Haun Rodd Menilee. CA 92586951672-6777 Fax 951-679.3843
New. Better, Best.cityotmenifee.us
August 11, 2021
Subject: City of Menifee, KB Home Coastal, lnc , Tract 30,t42-,1, Bond Reduction
To whom it may concern,
The City Council at its June 16, 2021 meeting approved the reduclion and release of the of the following
bonds.
o 90o/o Reduction - Faithful Performance Bond No. K07948116 - $10j,500. Release - Material and Labor Bond No. K07948116 - $51,000
Enclosed is the original Material and Labor bond and a copy of the Faithful performance Bond
Please let me know if you have any questions
Sincerely,
Stephanie Roseen,
Deputy City Clerk
Enclosure
Lesa A. Sobek
M.ryor Pro Ten)
DrstfiCt 3
Man Liesemeyet
Counc lmembel
Drsrrcl 2
gill Zimme.man Bob Karwin
CouncrlmemLrer
Drslficl I
Dean Deines
CoLr,tcrlfiember
Disttr(t 4
Armando G. Villa
Crtv Marrdrl(,,
KB Home Coastal, lnc.
36310 lnland Valley Drive
Wldomar, CA 92595
MENIFEE
New. Better. Best.c ltyolmeflrlee us
August 10, 2021
Sarah Manwaring
City Clerk
City of Menifee
Subject; 90%o Bond Reduction for Tract 30142-7 [tidden ltills phase 1
Dear Sarah
On f une 16, 2021 , the City of Menifee City Council approved the 90% bond reduction for
Tract 30142- I Drainage and Recycled Water lmprovements.
0ri inal Recycled Water Bond - Bond No. K07948116
$ 51,000
90olo Reduced Rec cled Water Bond - Bond No. K079481 16
Total
Please let me know ifyou have any questions
Sincerely,
utu
Daniel Padilla, PE
Deputy Public Works Director/City Engineer
EillZimmerman Matt Liosomeyer Greg August
lmprovement Security Faithful
Performance
Labor & Material
Recycled Water K07948116 $ 101,s00 $ 51.000
Total $ 101,500
Improvement Security Faithful
Performance
Labor & Material
Recycled Water K07948 I 16 $ 10,150
$ 10,150 N/A
Lesa A Sobek Dean Deines
C,_'.rl,.: tn)e,irt
Arnrarrdo G Villat.l