1989-605759 (2)
2124
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Recording Requested By: <-F
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City of Encinitas AM 2 2
When Recordad Mail d o:
City Engineer ~r~+~;~ ;'.`;L!.. ay, yt R
CTTY OF ENCINITAS ~ 1-~--`
527 Encinitas Boulevard )
~ Encinitas, California 92024 ;
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NOTICE OF COMPLETION RF 4.00
AR 2.00
Assessor's Parcel Log. No. : .306 G 1.00
No. 256°191-01 through 68 Project No.: TM 4572
W.O. No.: 9038
1, Pursuant to t:he Subdivision Map Act of the State of Caliiornia
and Title 24 of the Lncinitas Municipal Code, Takara
InternationaZ did on the 26th day of January, 1987, enter into
an agreement with the City of Encinitas to construct and
install certain improvements shown on Plan No. TM 4572 in that
certain subdivision known as Poinsettia Park, Record Map No.
12014, said improvements consisting of public street and
drainage improvements on Saxony Road and ?uebla Street in tr.e
City 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 Council on the 25th day of Oczober, 1989.
4. The name of the surety on the subdivider'S letter of credit
guaranteeing construction af said improvements and the payment
of labor and material is the Nippon Crsdit Bank Ltd., Los
Angeles, CA 90017.
5. Security
A. Construction of Improvements
Irrevocable Standby Letter of Credit guaranteeing
construction of improvements from the Nippon Credit Bank,
I,td. (Loc. No. 1020) as follows:
xs/05/crzio-1797wp5 2(10-18-89\4)
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Amount af letter of credit $871,962
Street, drainage, sewer and watpr $571,500
improvements cost estimate
Security for warranty to be retained $142,875
(25% of cost estimate)
amount to be released $729,087
The retained amount shall remain with the City for one year
following the accept;ance of wark by City Council and until such
titae that the City wi11 require the security.
6. Neither acceptance of said improvements by the City Council
nor this notice constitutes a waiver of any defects in the
work of the construction or installation of said improvements.
DatEd: CITY OF ENCINITAS
By ~ -
E. J_ e Pool, city Clerk
I, E. Jans Pool, City Clerk of the City of Encinitas, a political
subdivision of the County of San Diego, 5tate of California, which
is the owner of the public work describeci in the within Notice of
Completion executed by said City of Encinitas, do hereby ceztify
that I havF read the same and }:now the contents thereof and that
the facts therein stated are true of my own knnwledge. I wake this
verification for and on behalf of said City of Encinitas.
Date : ~ LX-Zff "T 'ye
E. a-
Poo1, C~ty Clerk
HS/05/CM10-1797wp5 3(10-18-89\4)