City Council

18. RELEASE OF SECURITY - RELEASE OF THE PUBLIC IMPROVEMENT SECURITIES\nPOSTED BY CORONA INDUSTRIAL JV LLC, A DELAWARE LIMITED LIABILITY\nCOMPANY ASSOCIATED WITH 150 RADIO ROAD AND 1331 E. SIXTH STREET\n(APPLICANT: CORONA INDUSTRIAL JV LLC, A DELAWARE LIMITED LIABILITY\nCOMPANY)\nThat the City Council:\na. Accept the street improvements associated with 150 Radio Road and 1331 E.\nSixth Street.\nAgenda\nb. Retain twenty-five percent (25%) of the Faithful Performance Security for one\nyear beyond the acceptance of the 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 No. 268006549).\nc. Retain the Labor and Material Security for six months beyond the acceptance of\nthe improvements and automatically release the security, unless claims are filed.\n(Bond No. 2568006549).