1987-665950 (2)
NOTICE UF COMPLETZON
1. PLll"slld!li- t0 the Subdivision Map Act of the State of
Caliiornia and Title 24 of the Encinitas Municipal Code, McYeliar
Deve] pment Corporation, subdi.vider, diri on the 15th day of
January , 1985, cnter into an aqreement with ihe City of
Er,cinitzs to construct and instal l certain i mprovemeni:s in that
certain subdiv.ision known as Tentative Map No. 4328-1, Record Map
Ido.10818, said improvements consis'ting of street and dr.ainagc-
improvements in the City of Encinitas.
2. Said agreernent, ir.cl.uditig plans and specifications for said
improvements, is on file in the office of i:he Clerk of the City
of Encinitas.
3. The name of the suretv on tlie subdivider's Bonds yuaranteeing
construction of said improvemerits and the payment of iabor and
material tlierefore is Transamerica Insurance Company, 1150 South
Olive, Los Angeles, Caliiornia 90015.
4. Said improvements were completed and accepted by the City
Council of the City of Encinitas on the 13th day of July, 1987.
5. Performance Bond 1!5240-81-61 was posted in the amount of
$1,326,300.00 to guar..ntee improvements. The street draina9e,
sewer and water facilities and appurtenahces improve;nent portion
is $1,306,300.00; 90% ($1,175,670.00) is hereby released and the
remaining 10% ($130,630.00) shall be held for a period of one(1)
year from the acceptance date in paragraph 4 above unless further
notified by the Cir.y.
6. The monvmentation security portion o: the bond ($20,000.00)
is hereby released.
7. Improvement Labor and Materials Bond =5240-81-61 in the
amaunt of $663,150.00 may be released in six (6) months should no
claims be f.iled against them with the City of Encinitas.
8. Irrevocable Standby Letter or Credit (La Jolla Bank a^l Trust
Co*npany) in the amot;.nt of $34,900.00 for erosion control work
surety is k:ereby released.
9. On February 4, 1985 the Aqreement to Improve Subdivision was
amende(9 to inrlude a$20,OU0.00 guarantee for the correction of a
si.yht distance problem alonq Manchester Avenue. This bond ff524-
87-86 in the amount of $20,000.00 is hereby released.
lo. Neither acceptance cf said improvements by the City Council
of the City of F.ncinitas nor this notice censtitutes a a:aiver of
any ciefects in the work of the construction or in::tallation of
said improvements.
Dated:
CITY OF ENCINITAS
STA'I'F QF CALIFORNIA, ) ..,.p
Countf uf San Diego,) ss Ay j
su ,
Enc' itas Citv Clerk
E. 7ane Pool, City Clerk of the City of F:ncinitas, a pol.itical
suk,divi.:;ion of tne 6tate of Cali_fornia, w;lich is t.he owner of the
public work described in the within Notice oi ComPletion executed
by said Ci.ty of Encini*_-is; r.ertify that I have reaa the same ar.d
know the contentE. therf-of iind that the Y<jcts Lherein stated are
true nn my own knooiledge; that I make tni.s veriYication fcr and
on behalf cf sai.d Citti• of Enc.inztas.
Subsc;ribed arid sworn tp befora me this
th~ day of i✓EJ~-K~v_~~~~~__. E. Ja Pool, City Clerk
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