1987-665952NOTICE OF COMPLETI01IJ • 226
1. Pursuant to the Subdivision Map A *:)f the State of
California and Title 24 of the Encinitas Winicipal Code, The
r•4.eldstcne Company, subdivider, did Dn the lath day of September,
1983, enter into an agreement with the City of Encinitas to
construct and install certain improvements in that certain
subdivision known as Tentative Map No. 4030-1, Record Map No.
10733, said improvements consisting o street and drainage
improvements in the city of Encinitas.
2. Said agreement, including alarms and specifications for said
improvements, is on file in the office of r_ne Clerk of the City
of Encinitas,
:5. ?'he :Tc of t".c surety on the subdi.vider's Bonds guaranteeing
construction of saia improvements and the payment of labor and
material therefore is the American Insurance Company, 181.21
Irvine Boulevard, Tustin, California 92680.
4. Said improvements were completed and accepted by the City
Council of the City of Encinitas on the 14th day of September,
1987.
5. A Faithful Performance Bond in the mount of $1,282,660.00
was posted to guarantee improvements. The or.igii 1. street, water
and drainage facilities improvement portion of t:ie bond was in
the amount of $1,249,060.00. On July 8, 1986, the improvement
portion was reduced to $136,852.00. An additional amount of
$11,946.00 is hereby released. The remaining $124,906.00 shall
be held for a period of one (1) year from the acceptance date in
paragraph 4 unless further notified bi- the City.
6. The Monumentation security portion of the bond, in the amount
of $11,000.00, is hereby released. The Park. Land Security
portion of the bond in. the amount of $22,609.00 is hereby
released.
7. The Sewer Improvement Bond #73.24799 the amount of
$194,550.00 was reduced on July 8, 1986 an amount of
$19,455.00. This security shall be held fr.,- a period of one (1)
year from the acceptance date in para.yraph 4 unless further
notified by the City.
8. Sewer Labor and Materials Bond #7124799A in the amount of
$97,273.00 may be released in six (6) months from the date of
acceptance in paragraph 4 should no claims be filed against them
with the City of Encinitas.
9. Cash deposit of $5,000 placed with the Board of Supervisors
for emergency erosion control work is hereby released.
10. Neither acceptance of said improvements by the City Council
of the City of Encinitas nor this notice constitutes a waiver of
any defects in the work of the construction or installation of
said improvements.
Dated: CITY OF LNCINITAS
STATE OF CALIFORNIA
County of San Diego,) ss By _Y,-. _
Enci tas City Clerk
E. Jane Pool, City Clerk of the City of Encinitas, a political
subdivision or the State of California, which is the owner of the
public work described in the within Notice of Completion executed
by said City of Encinitas; certify that I have read the same and
know the contents thereof and that the ft]cts therein stated are
true on my own knowledge; that I make this verification for and
on bPhal` of said City of Encinitas.
ti
Subscribed and sworn to b^fore me this ot~--
th day of Je., i cry ~a` E. J'anc ool, City Clerk
I .AI
PA`RICIA DRLY/
F'L1-0101. (11-2.5-8'1) •1•'f'r;.,i:(,' 1
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