Sutter Mitland 01, LLC Bond Release Letter 30027001 TM36485-11MENIFEE 298214 Ha.un Road Men'lee, CA 92586
951 672.6777 Fax 951.679-3843
New. Better. Best.cityolmenilee.us
January 28,2020
Continental Casualty Insurance
333 South Wabash Ave.
Chicago, IL 60604
Re: Sutter Mitland 01, LtC, City of Menifee, TM 36485-11
75o/o Bond Reduction, Bond No. 30027001
On January L5,2020, the City Council accepted Surety Rider No. 1 and approved the 75olo
bond reduction of the Performance and Material and Labor Bond listed below.
Performance Bond No. 30027001 - $1,809,500
Material and Labor Bond No. 30027001 - $904,750
Please let me know if you have any questions.
Sincerely,
rah A. Manwaring
City Clerk
cc: Sutter Mitland 01, LLC
Enclosures
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MENIFEE 29844 Hnurr Road Menrtee. CA 92586
951612 6777 , F.r 951 679 f84l
New. Better. Best.cityof meoilee. us
City of Menifeelanuary27,2020 City Clerk
Sarah Manwarinc JAN 2 3 2020
City Clerk
City of Menifee Recelved
Subject: 75% Bond Reduction for Tract 36485-11
Dear Sarah:
On January 75,2020, the City of Menifee City Council approved the 75o/o Bond Reduction ofthe
Improvement Bond for Tract 36485-11.
1.O nal Bond Amounts:
2. Reduced Bond Amounts:
Please let me know ifyou have any questions
Since
f onathan Smith, P.E.
Director of Public Works and Engineering / City Engineer
Tract Security Faithful Performance Labor & Material
TM36485-11 30027001 $ 1,809,500 $ 904,750
Total $ 1,809,500 $ 904,750
Tract Faithful Performance Labor & Material
TM36485-11 $ 452,000 $ 226,000
Total $ 452,000 $ 226,000
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