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E U G E N E <br />PAS and <br />Open Space <br />C E L E B v a r i a <br />Years of ar � <br />10 0 1906 *2006 <br />A DIVISION Of ?0812( WORKS <br />1820 ROOSEVELT BLVD. <br />E!GENE, OREGON 47402 <br />(541 i 682.4800 <br />FAX (541) 682 -4882 <br />WM EUGENE-OR.GOV /PARKS <br />PARKS AND OPEN SPACE PLANNING <br />PARKS MAINTENANCE <br />URBAN FORESTRY <br />NATURAL RESOURCES <br />rRE <br />L] <br />September 24, 2009 <br />Tom Wester <br />Tom Wester Builder, Inc. <br />3433 Quail Meadow Way <br />Eugene OR 97408 <br />• <br />Contract #s: 1999 -00419 and 2001 -00432 <br />Current Bond #s: PB4004 for Project #S9800f and PC4271 <br />Subject: Street Tree Bond Release <br />This letter is in response to your request for Final Establishment Inspection of the <br />street trees planted in: Sterling Woods, PUD, and Sterling Woods First Addition. <br />Staff have completed this inspection and determined that an additional eight plant - <br />able spaces remain. Based on this inspection, the City will release the bonds for <br />both subdivisions, if a Certificate of Deposit is established naming the City of Eugene <br />and assigning all of the principal's rights, title and interest in the CD until the terms of <br />the Street Tree Agreements are satisfied. <br />A Certificate of Deposit has been placed with Pacific Continental Bank in the amount <br />of $5,006 and an agreement of assignment provides the City of Eugene is the <br />beneficiary of the Certificate of Deposit until the trees have been planted and <br />established for three years, as required by your contract agreements. <br />As a result of the Assignment Agreement, the bonds for both contracts may be <br />released. <br />Thank you. <br />Kris Aanderud <br />Contract Administrator <br />CC: Contractors Bonding and Insurance Company <br />PO Box 12053 <br />Portland OR 97212 <br />Enclosure: copy of Assignment Agreement <br />