Sutter Mitland 01, LLC Bond Reduction Letter TR36485-2 1000829629MENIFEE 29844 Haun Road Menifee, CA 92586
95'l-672-6717 Far 951'679-3843
New. Better. Best.c ityotme n ilee. us
December 5, 2019
U.S. Specialty Insurance Co.
601 S. Figueroa St., Suite 1600
Los Angeles, CA 90017
Re: Sutter Mitland 01, LLC, City of Menifee, TR 36485-2, -3 & -4;
75olo Bond Reductions for Faithful Performance and Material and Labor Bonds
On November 6,20L9, the City Council approved a 75olo bond reduction and accepted the
surety for the following bonds. The original bonds are enclosed.
TR 36485-2 Faithful Performance Bond No. 1000829629/TCS0171585 - $3,935,000
TR 36485-2 Material and Labor Bond No. 1000829629ffCS0171585 - $1,967,500
TR 36485-3 Faithful Performance Bond No. 1000829620frCS0171576 - $2,351,000
TR 36485-3 Material and Labor Bond No. 1000829620ffCS0171576 - $1,175,500
TR 36485-4 Faithful Performance Bond No. 1000829621ffCS0171573 - $3,066,000
TR 36485-4 Material and Labor Bond No. 1000829629ffCS0171573 - $1,533,000
Please let me know if you have any questions.
Sincerely,
ah A. Manwaring
ty Clerk
cc: Sutter Mitland 01, LLC
Enclosures
1
2
J
4
5
6
Greg August
M,lVo, Pr.-, T',
New. Better. Best.
November 26,2019
Sarah Manwaring
City Clerk
City of Menifee
Developer Contact Info:
Shaun Bowen
Shaun.bowen@brookfi eldrp.com
714.200.7609
Subject:
Dear Sarah:
7 5o/o Bond Reductions - Audie Murphy Ranch
On November 6th, 2019, the City of Menifee City Council approved the 75% Bond
Reductions of the following AMR Tract lmprovement Bonds.
1. Ori inal Bond Amounts
TM36485-1
Tract Security l,abor & Material
TM5190099 /
15050555
$ 1.714,500.00
TM36485-2 1000829629 /
TCS0171585
$ 3,935,000.00 $ 1,967,500.00
TM36485-3 $ 2,351,000.00 $ 1,175,500.00
TM36485-4 100082e621 /
TCS0171573
$ 3,066,000.00 $ 1,533,000.00
TM36485-7 TM5207442 $ 3,467,000.00 $ 1,733,500.00
TM36485-8 TM5207 443 $ 3,480,000.00
TM36485-9 TM5207444 $ 4,171,500.00 $ 2,085,750.00
TM36485- 10 30027002 $ 2,072.000.00 $ 1,036,000.00
TM320Z5 TM5156514 /
015043705
$ 9,125,500.00 $ 4,562,750.00
TM31822-1 929630704 $ 867,000.00 $ 433,500.00
TM37822-2 TM5207429 $ 2,937,500.00 $ r,468,750.00
$ 37,187,000.00Total $ 18,593,500.00
Brll Zimmermnn Man Liesemeyer Dean Deines Armando G. Villa
MENIFEE 29844 Haun Road Menrfee. CA 92586
951-672 6777 Fax 951679 3843
cityolmenilee.us
Faithful Performance
$ 857,250.00
1000829620 /
TCSo171576
$ 1,740,000.00
Les. A. Sobek
Courr(,lnrpmb,
D,slr,il 1
MENIFEE
New. Better. Best.
2. Reduced Bond Amounts
lonathan G. Smith, PE, QSD, QSP
Director of Public Works / City Engineer
29844 Hdun R
951 672 6777
rcl Menifee. CA 92586
Fax 951679 3843
cityolmenilee.us
Tract Faithful Performance Labor & Materlal
TM36485-1 $ 429,000.00 $ 214,500.00
$ 984.000.00 $ 492,000.00
$ 588,000.00 $ 294,000.00
TM35485-4 $ 766,500.00 $ 383,250.00
TM35485-7 $ 867,000.00 $ 433,500.00
TM36485-8 $ 870,000.00 $ 435,000.00
TM 36485-9 $ 1,043,000.00 $ 521,500.00
TM36485-10 $ 518,000.00 $ 259,000.00
TM3 202 5 $ 2,281,000.00 $ 1,140,500.00
TM31822-1 $ 217,000.00 $ 108,500.00
TM3t822-2 $ 734,000.00 $ 367,000.00
Total $ 9,297,500.00 $ 4,648,750.00
Bill Zimmerman Greg August Man Liesemeyer Lesa A. Sobek Armando G. Villa
Crly M.rndger
Please let me know ifyou have any questions.
Sincerely,
TM36485-2
TM36485-3
Deln Deines
Councrlmemb
D,\1fi.! 4