City Council

18. RELEASE OF SECURITY - RELEASE OF THE GRADING AND PUBLIC IMPROVEMENT\nSECURITIES POSTED BY THE NEW HOME COMPANY SOUTHERN CALIFORNIA LLC, A\nCALIFORNIA LIMITED LIABILITY COMPANY FOR LOTS 15, 36-45, AND Q, OF TRACT\nMAP 37030 LOCATED SOUTH OF EAGLE GLEN PARKWAY AND WEST OF INTERSTATE\n15 (APPLICANT: THE NEW HOME COMPANY SOUTHERN CALIFORNIA LLC)\nThat the City Council:\na. Accept the public improvements associated with Lots 15, 36-45, and Q of Tract\nMap 37030.\nb. Retain twenty-five percent (25%) of the Faithful Performance Security for one\nyear from the date of acceptance of improvements as security for repair and\nreplacement of any improvements that fail to meet City standards at the end of\nthe one-year period. (Bond#PB02497500923, Bond#PB02497500925,\nBond#PB02497500926, Bond#PB02497500927, and Bond#PB02497500928)\nAgenda\nc. Retain the Labor and Material Security for six months from the acceptance of\nimprovements date and automatically release the security unless any claims are\nfiled. (Bond#PB02497500923, Bond#PB02497500925, Bond#PB02497500926 ,\nBond#PB02497500927, and Bond#PB02497500928)\nd. Release Grading and Erosion Control Securities. (Bond#PB02497500929,\nR12489, Bond#PB02497500930, and R12492)