City Council

7.5 RELEASE OF GRADING, IMPROVEMENT, AND SURVEY MONUMENTATION SECURITIES\nPOSTED BY CORONA-UPPER DRIVE 25, LLC, A DELAWARE LIMITED LIABILITY COMPANY FOR\nTRACT MAP 31373 LOCATED ON THE EAST SIDE OF LESTER AVENUE, SOUTH OF UPPER\nDRIVE\nThat the City Council:\na. Accept the improvements associated with Tract Map 31373\nb. Retain twenty-five percent (25%) of the Faithful Performance Security for one year beyond\nPage 3 of 7\nthe acceptance of the improvements as security for repair and replacement of any\nimprovements that fail to meet City standards at the end of the one year. (Bond No. 0733866\nFP, 0733867 FP, and 1155938 FP)\nc. Retain the Labor and Material Security for six months beyond the acceptance of the\nimprovements and automatically release the security unless claims are filed. (Bond No.\n0733866 LM, 0733867 LM and 1155938 LM)\nd. Release Grading and Erosion Control Securities. (Bond No. 1155939 FP, 1155940 FP, AND\nR10194)\ne. Release the survey monumentation security associated with Tract Map 31373 (Bond No.\n0733869)