Sutter Mitland 01, LLC Bond Release Letter TM36485-2Bond Type & Number Original Bond Amount Released Amount Release Date Warranty Bond Amount Being Withheld
If you have any questions or concerns, please contact Edna Aguilar at eaguilar@cityofmenifee.us.
Edna Aguilar Management Analyst Date
Original Posted Securities:
Date Nick Fidler, P.E. Public Works Director
DocuSign Envelope ID: 361E986F-4223-41F4-9F30-CA7D5CA086F6
Material & Labor Bond
1000829629/TCS0171585
$ 3,935,000
$ 0
$ 115,200 $ 115,200
$ 1,967,500
08/17/23Faithful Performance Bond
1000829629 / TCS0171585
August 23, 2023
Sutter Mitland 01, LLC
Attn: Shaun Bowen
3200 Park Center Drive, Suite 1000
Costa Mesa, CA 92626
RE: Public Improvement Acceptance and Security Reduction/Release - Tract No. 36485-2
Dear Mr. Bowen,
On August 16, 2023, the City of Menifee City Council accepted the public improvements
from Sutter Mitland 01, LLC, for streets, drainage, water, sewer systems, as well as,
survey monuments and authorized the 90% reduction of posted faithful performance
securities for Tract Map No. 36485-2 (TM 36485-2).
10% of the faithful performance bond amount is to be retained as a Warranty Bond for TM
36485-2 for 12 months from the date of City Council acceptance of public improvements.
Material and Labor Bond(s) may be released effective November 17, 2023, barring receipt
of any notice of liens being received by the City.
Survey monument bond is fully released effective as of the date of this letter.
Electronic copies of this letter to be sent to the following at each stage of security
reduction/release process:
kjensen@cityofmenifee.us
crobinson@cityofmenifee.us
shaun.bowen@brookfieldpropertiesdevelopment.com
$ 0
$ 3,541,500
08/17/23 $ 0
*Please note: Material and Labor Bond release will be authorized separately and release date above
is tentative pending Engineering staff final approval.
Survey Monument Bond
1000829624 / TCS0171577
11/17/23*
$ 393,500
8/24/20238/24/2023
MATERIAL & LABOR BOND (90 Day Hold)
Bond Type & Number Original Bond Amount Released Amount Release Date Engineering Approval for Release
Edna Aguilar Management Analyst Date Kris Jensen Financial Analyst Date
WARRANTY BOND (12 Month Hold)
Original Bond Amount
Warranty Bond Amount Being Withheld
Final Release Date Warranty Bond Amount Being Released
Edna Aguilar Management Analyst Date Date
If you have any questions or concerns, please contact Edna Aguilar at eaguilar@cityofmenifee.us.
Sincerely,
Edna Aguilar Management Analyst
Nick Fidler, P.E. Public Works Director
FUTURE BOND RELEASES
Bond Number
DocuSign Envelope ID: 361E986F-4223-41F4-9F30-CA7D5CA086F6
11/17/23$Material & Labor Bond
1000829629/TCS0171585 $ 115,200
$$1000829629 /
TCS0171585