City Council

6.7 RELEASE OF IMPROVEMENT SECURITIES POSTED BY THE NEW HOME COMPANY SOUTHERN\nCALIFORNIA LLC FOR TRACT MAP 37644 LOCATED SOUTH OF EAGLE GLEN PARKWAY AND\nWEST OF INTERSTATE 15\nThat the City Council:\na. Accept the public improvements associated with Lots 12-23 and 30-37, and Lots X-Right, Z-\nLeft, AA and BB of Tract Map 37644.\nb. Retain twenty-five percent (25%) of the Faithful Performance Security for one year beyond\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 period. (Bond Nos.\nPB02497501367, PB02497501364, PB02497501365, PB02497501366, PB02497501368,\nPB02497501369, PB02497501358, PB02497501359, PB02497501360, PB02497501370,\nPB02497501371, PB02497501363, PB02497501361, and PB02497501362)\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 (Bond\nNos. PB02497501367, PB02497501364, PB02497501365, PB02497501366,\nPB02497501368, PB02497501369, PB02497501358, PB02497501359, PB02497501360,\nPB02497501370, PB02497501371, PB02497501363, PB02497501361, and\nPB02497501362)