FINANCIAL_SERVICESAPPROVED

City of Simi Valley Staff Report Adopt a resolution accepting the Final Map and approving the Subdivision Improvement Agreement and securities for Tract No. 6085, located at 1845 Oak Road 2026-05-11

Harco National Insurance backs Tract 6085 improvement bonds

$35,000 (Faithful Performance – Streets); $35,000 (Labor and Materials – Streets); $14,400 (Faithful Performance – Storm Drain); $14,400 (Labor and Materials – Storm Drain); $52,500 (Faithful Performance – Sewer); $52,500 (Labor and Materials – Sewer); $149,600 (Faithful Performance – Grading)City of Simi ValleyHARCO NATIONAL INSURANCE COMPANYMay 11, 2026

Trusted by teams at

Description

Harco National Insurance Company is providing multiple surety bonds to secure the public improvements required for Tract No. 6085 under Simi Valley’s Subdivision Improvement Agreement. The bonds cover faithful performance and labor and materials for streets, storm drains, sewers, and grading in amounts ranging from $14,400 to $149,600.

Contract Details

Contract Amount

Vendor

HARCO NATIONAL INSURANCE COMPANY

Agency

City of Simi Valley, CA

Contract Type

FINANCIAL_SERVICES

Document Date

May 11, 2026

Contract Term

Applies during construction, completion, and associated maintenance/warranty periods as required under the Subdivision Improvement Agreement

Renewal Info

Bonds secure faithful performance and payment obligations for the subdivision improvements, including a one-year warranty period after City acceptance; they remain in effect until the City releases the associated securities under the Subdivision Improvement Agreement.

More from HARCO NATIONAL INSURANCE COMPANY