City Council

21. RELEASE OF SECURITY - RELEASE OF GRADING AND IMPROVEMENT SECURITIES\nPOSTED BY TRI POINTE HOMES INC, A DELAWARE CORPORATION, FOR TRACT MAP\n36355 LOCATED ON THE NORTH AND SOUTH SIDE OF FOOTHILL PARKWAY, EAST OF\nSTATE STREET (APPLICANT: TRI POINTE HOMES INC)\nThat the City Council:\na. Release the Grading and Erosion Control Securities posted for Tract Map 36355.\n(Bond No. PB03010401998)\nb. Accept the street improvements associated with Tract Map 36355.\nc. 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. PB03010402000, PB03010402001)\nd. 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. PB03010402000, PB03010402001)