1989-605759
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2124 0 5 7 5 s
Recording Requssted By:
City of Encinitas
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) fi~ No' -7 Ail 8: 22
When Recorded 2dail to:
City Enqineer ) ~ ` • , , , a
CITY OF ENCINITAS ) { - ' ~ '
527 Encinitas Boulevard j
Er:cinitas, California 92024 )
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NOTICF OF COMPLETION
RF 4.00
AR 2.00
Assessor's Parcel Log. No, : -iO6 MG 1.U0
No. 256-191-01 through 68 Project No.: TM 4572
W.O. Na.: 9038
1. Pursuant to tlie Subdivision Map Act of tY.e State of California
and Title 24 of the Encinitas Municipal Code, Takara
International did on the 26th day of January, 1987, enter into
an agreement witl-► the City of Encinitas to construct and
install certain improvements shown on Plan PJo. TM 4572 in that
certain subdivision known as Poinsettia Park, Record Map Na.
12014, said improvements consisting of public street and
drainage improvements on Saxony Road and Puebla Street in the
Clty of Encinitas.
2. Said agreement, including the plans and specifications for
said public improvements, is on file in the Office of the
Clerk of the City of Encinitas. 3. Said public improvements were completed and accepted by the
Encinitas City Louncil on the 25th day of October, 1989.
4. The name of the surety on the subdivider ° s letter of credit
guaranteeinq construction oL said improvements and the payment
af labor and matexial is the Nippon Credit Bank Ltd., Los
A1lgeles, CA 90017.
5. Security
A. Construction of Improvements
Srrevocable Standby Letter of Credit guaranteeing
canstruction of improvernents frorn the Nippon Credit Bank,
Ltd. (Loc. No. 1020) as follows;
4- f
HS/05/CM10-1797wp5 2(10-18-89\4)
i
, z~25
P,moant of lptter o€ credi.t $871, 962
Street, drainage, sewer and water $571,500
improvements cost estimate
Security for warranty to be retained $142 875
(25% of. cost estim.ate) ~ !
amount to be re].eased $729,087
The retained amount ahall remain with the City fdr one year
following the accepl:ance of caorDc by City Counc:il and until such
time that the City wilZ require the seaurity.
6. Neithei• a.cceptance of said improvements by thP City Council
nor this notice constitutes a waiver of any defects in tre
work of the cor.struction or installation of said improvements. ;
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Datedo CITY OF ENCINITAS
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By
E. J e Poo1, City Clerk
I, E. Jane Pool, City Clerk of the City of Encir,itas, a politi~al
subdivision of the County of San Diego, State of Caliiornia, which
is the owner of the public work described zn the within Notic.e of
Completion exetiuted by said City of Er.cinitas, do rereby certify
that I have read the same azid know the contents thereo£ and that
the facts therein stated are true of my own knowledqe. I make this
verification for and on behalf of said City of Encinitas.
Q yl~~
Date: E. J Pool, Cwty Clerk
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HS/05/CM10-1797wp5 3(10-18-89\4)
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