City Council

22. RELEASE OF SECURITY - RELEASE OF IMPROVEMENT SECURITY POSTED BY\nVALENCIA ESTATES, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY FOR TRACT\nMAP 32584 LOCATED ON CASPER CIRCLE, EAST OF GILBERT AVENUE (APPLICANT:\nVALENCIA ESTATES, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY)\nThat the City Council:\na. Accept the street improvements associated with Tract Map 32584.\nb. Retain twenty-five percent (25%) of the Faithful Performance Security for one\nyear beyond accepting the improvements as security for repair and replacement\nof any improvements that fail to meet City standards at the end of the one-year\nperiod. (Bond No. 731800S)\nc. Retain the Labor and Material Security for six months beyond accepting the\nimprovements and automatically release the security unless claims are filed.\n(Bond No. 731800S)