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Home My WebLink AboutBonding, Signing Recording Final PlatCITY 0FA€7-„_ IDAHO �F�TeH°t5c 7'REASURE V,-"-' . 903SINCE 7 MAYOR Tammy de Weerd CITY COUNCIL MEMBERS Keith Bird Christine Donnell Charles M. Rountree Shaun Wardle CITY DEPARTMENTS Fire 540 E. Franklin Road 888-1234 / fax 895-0390 Parks & Recreation 11 W. Bower Street 888-3579 / fax 898-5501 Planning 660 E. Watertower Lane Suite 202 884-5533 / fax 888-6844 Police 1401 E. Watertower Lane 888-6678 / 846-7366 Public Works 660 E. Watertower Lane Suite 200 898-5500 / fax 898-9551 - Building 660 E. Watertower Lane Suite 150 887-2211 / fax 887-1297 - Wastewater 3401 N. Ten Mile Road 888-2191 / fax 884-0744 - Water 2235 N.W. 8th Street 888-5242 /fax 884-1159 December 14, 2005 Ms. Janet Joireman U.S. Bank National Association International Dept., WWH-277 1420 Fifth Avenue, 9th Floor Seattle, WA 98101 206-344-2398 fax 206-344-5369 Re: Return Letter of Credit for Paramount Subdivision # 7 for Paramount Development, Inc. After a site inspection and review of Paramount Subdivision # 7 by the Planning Department and the Public Works Department, it has been determined to release the original Letter of Credit of $81,210.35 to you for the completion of water, sewer, street lights, landscaping, fencing and pressurized irrigation. Please use this letter as authorization for U. S. Bank to release the irrevocable Letter of Credit No. SLCSSEA02249. If you have any questions please contact me. Thank you for your cooperation. Sincerely e4e�; William G. Berg, Jr. City Clerk Enclosure CITY HALL 33 EAST IDAHO AVENUE MERIDIAN, IDAHO 83642 (208) 888-4433 CITY CLERK - FAX 888-4218 CITY ATTORNEY / HR - FAX 884-8723 FINANCE & UTILITY BILLING - FAX 887-4813 MAYOR'S OFFICE - FAX 884-8119 Printed on recycled paper bank® Five Star Service G...l ed U.S. BANK NATIONAL ASSOCIATION INTERNATIONAL DEPARTMENT 1420 FIFTH AVENUE, 9TH FLOOR SEATTLE, WA 98101 U.S.A. PHONE: 206-344-2398 FAX: 206-344-5078 IRREVOCABLE STANDBY LETTER OF CREDIT AUGUST 8, 2005 BENEFICIARY: APPLICANT: CITY OF MERIDIAN PARAMOUNT DEVELOPMENT, INC. 660 EAST WATERTOWER, SUITE 200 12601 W. EXPLORER DR., SUITE 200 MERIDIAN, ID 83642 BOISE, ID 83713 ATTN: BRAD WATSON LETTER OF CREDIT NUMBER: SLCSSEA02249 A EXPIRY DATE: AUGUST 8, 2006 AT: OUR COUNTERS PRESENTLY LOCATED AT 1420 FIFTH AVENUE, 9TH FLOOR, INTERNATIONAL DEPARTMENT, SEATTLE, WA, 98101 ON OR BEFORE 5:00 P.M. OR AT 101 S. CAPITOL BLVD, 8TH FLOOR, SUITE 814, AND ATTN: GARY DEGRANGE, BOISE, ID 83702 AT 5:00 P.M. BOISE TIME. AMOUNT U.S. $81,210.35 NOT EXCEEDING: EIGHTY ONE THOUSAND TWO HUNDRED TEN AND 35/100 U.S. DOLLARS WE HEREBY ISSUE THIS IRREVOCABLE STANDBY LETTER OF CREDIT AVAILABLE BY YOUR DRAFT(S) DRAWN AT SIGHT ON U.S. BANK NATIONAL ASSOCIATION AND ACCOMPANIED BY THE FOLLOWING DOCUMENTS: 1. A STATEMENT PURPORTEDLY SIGNED BY AN AUTHORIZED INDIVIDUAL FOR THE BENEFICIARY STATING THAT THE AMOUNT OF DRAFT DRAWN REPRESENTS FUNDS DUE THE CITY OF MERIDIAN DUE TO THE FAILURE OF PARAMOUNT DEVELOPMENT INC. TO COMPLETE THE SEWER, WATER, PRESSURIZED IRRIGATION, STREET LIGHTS, LANDSCAPING AND FENCING IN PARAMOUNT SUBDIVISION NO. 7". 2. THE ORIGINAL OF THIS LETTER OF CREDIT, INCLUDING ANY AMENDMENTS, MUST BE SUBMITTED TO THE BANK FOR OLIN ENDORSEMENT OF ANY PAYMENTS EFFECTED BY US AND/OR FOR CANCELLATION. ADDITIONAL CONDITIONS: I. PARTIAL DRAWINGS ALLOWED 2. ALL BANKING CHARGES OTHER THAN THOSE OF THE ISSUING BANK ARE FOR ACCOUNT OF THE BENEFICIARY. DRAFTS DRAWN UNDER THIS CREDIT MUST BEAR THE CLAUSE: "DRAWN UNDER U.S. BANK NATIONAL ASSOCIATION IRREVOCABLE STANDBY LETTER OF CREDIT NO. SLCSSEA2249". THIS CREDIT IS SUBJECT TO "THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS" (1993 REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 500". THIS PAGE 1 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02249 embank® Five A. Service C -.,,,d "- WE HEREBY ENGAGE WITH YOU THAT DRAFT(S) DRAWN AND/OR DOCUMENTS PRESENTED UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS IRREVOCABLE STANDBY LETTER OF CREDIT WILL BE DULY HONORED UPON PRESENTATION TO US. DRAFT(S) AND DOCUMENTS MUST BE PRESENTED TO OUR OFFICE AT U.S. BANK NATIONAL ASSOCIATION, INTERNATIONAL DEPARTMENT, 1420 5T" AVENUE, 9T" FLOOR, SEATTLE, WA 98101, OR AT 101 S. CAPITOL BLVD., BS-ID-CB8, 8T" FLOOR, SUITE 814, BOISE, IDAHO 83702, ATTN: GARY DEGRANGE IN PERSON, OR BY OVERNIGHT COURIER, ON OR BEFORE THE EXPIRATION DATE OF THIS LETTER OF CREDIT. U.S. BANK NATIONAL ASSOCIATION 7?UATIONAL BANKING DIVISION T HO HOED SIGNATURE Janet Joireman Asst. Vice President THIS PAGE 2 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02249 SURETY SPREADSHEET Project Name: Date Compiled: Letter of Credit/Bond No.: Issued By: Expiration Date: Check No.: Item PARAMOUNT V 8/19/2005 SLCSSEA02249 US BANK 8/8/2006 Unfinished Partial Surety Party Responsible For Sign -Off Date Signed Off/ Person Comments Sanitary Sewer -internal $6,404.28 $0.00 $6,404.28 Public Works 9/9/05 MJ Sanitary Sewer -offsite Water-intemal Water- Offsite $0.00 $0.00 $7,502.18 $0.00 $7,502.18 Public Works 9005 MJ $0.00 $0.00 Public Works - Street Lights $5,281.00 $528.10 $5,809.10 Building 9/12105 JW Landscaping / Fencing $0.00 $0.00 PZ Pathways $0.00 $0.00 PZ Fencing $0.00 $0.00 PZ Tiling $0.00 $0.00 PZ Pressurized Irrigation $16,485.00 $0.00 $16,485.00 Public Works 8/10/05 MJ Gravity Irrigation $0.00 $0.00 NMID Other. $0.00 $0.00 PW -- - $0.00 $0.00 $0.00 $0.00 $0.00 1$0.00 TOTAL: $35,672.46 $528.10 10/10/05 READY TO RELEASE IN FULL - KG $36,200.56 Page 1 of 1 Will Berg From: Karie Glenn Sent: Wednesday, December 14, 2005 2:00 PM To: bergw@meridiancity.org Subject: LOC's to be released Attachments: Paramount #7.xls; Paramount #5.xls; Paramount #6.xls Paramount #5, 6, & 7 Please release these LOC's -- I have checked the issue on #7 - the numbers to not match because I left off the landscaping signoff on my detail sheet. I have confirmed that ALL inspections have been completed. and can be released in full. THANKS 12/14/2005 bank. Five Star Service Guaranteed'j�r U.S. BANK NATIONAL ASSOCIATION INTERNATIONAL DEPARTMENT 1420 FIFTH AVENUE, 9TH FLOOR SEATTLE, WA 98101 PHONE: 206-344-2398 FAX: 206-344-5365 AUGUST 8, 2005 CITY OF MERIDIAN 660 EAST WATERTOWER, SUITE 200 MREIDIAN, ID 83642 ATTN: BRAD WATSON PLEASE FIND ATTACHED OUR ORIGINAL STANDBY LETTER OF CREDIT NUMBER SLCSSEA02249 IN FAVOR OF YOURSELVES, FOR THE ACCOUNT OF: PARAMOUNT DEVELOPMENT, INC 12601 W. EXPLORER DRIVE, SUITE 200 BOISE, ID 83713 KINDLY ADDRESS ALL CORRESPONDENCE REGARDING THIS LETTER OF CREDIT TO THE ATTENTION OF OUR LETTER OF CREDIT DEPARTMENT, 1420 5TH AVENUE, 9TH FLOOR, SEATTLE, WA 98101, MENTIONING OUR REFERENCE NUMBER AS IT APPEARS ABOVE. TELEPHONE INQUIRIES CAN BE MADE TO EITHER JANET JOIREMAN AT 206-344-2398 OR MARY ALICE YOUNG AT 206-587-7049. U.S. BANK NATIONAL ASSOCIATION -- -------------------- I ERN --AT ONAL DEPARTMENT Janet Joireman Asst. Vice President embank® Five Star Service Guaranteed, , f U.S. BANK NATIONAL ASSOCIATION INTERNATIONAL DEPARTMENT 1420 FIFTH AVENUE, 9TH FLOOR SEATTLE, WA 98101 U.S.A. PHONE: 206-344-2398 FAX: 206-344-5078 IRREVOCABLE STANDBY LETTER OF CREDIT AUGUST 8, 2005 BENEFICIARY: APPLICANT: CITY OF MERIDIAN PARAMOUNT DEVELOPMENT, INC. 660 EAST WATERTOWER, SUITE 200 12601 W. EXPLORER DR., SUITE 200 MERIDIAN, ID 83642 BOISE, ID 83713 ATTN: BRAD WATSON LETTER OF CREDIT NUMBER: SLCSSEA02249 /\�nnnn EXPIRY DATE: AUGUST 8, 2006 AT: OUR COUNTERS PRESENTLY LOCATED AT 1420 FIFTH AVENUE, 9TH FLOOR, INTERNATIONAL DEPARTMENT, SEATTLE, WA, 98101 ON OR BEFORE 5:00 P.M. OR AT 101 S. CAPITOL BLVD, 8TH FLOOR, SUITE 814, AND ATTN: GARY DEGRANGE, BOISE, ID 83702 AT 5:00 P.M. BOISE TIME. -------------------------------------------------------------------- AMOUNT U.S. $81,210.35 NOT EXCEEDING: EIGHTY ONE THOUSAND TWO HUNDRED TEN AND 35/100 U.S. DOLLARS WE HEREBY ISSUE THIS IRREVOCABLE STANDBY LETTER OF CREDIT AVAILABLE BY YOUR DRAFT(S) DRAWN AT SIGHT ON U.S. BANK NATIONAL ASSOCIATION AND ACCOMPANIED BY THE FOLLOWING DOCUMENTS: A STATEMENT PURPORTEDLY SIGNED BY AN AUTHORIZED INDIVIDUAL FOR THE BENEFICIARY STATING THAT THE AMOUNT OF DRAFT DRAWN REPRESENTS FUNDS DUE THE CITY OF MERIDIAN DUE TO THE FAILURE OF PARAMOUNT DEVELOPMENT INC. TO COMPLETE THE SEWER, WATER, PRESSURIZED IRRIGATION, STREET LIGHTS, LANDSCAPING AND FENCING IN PARAMOUNT SUBDIVISION NO. 7". THE ORIGINAL OF THIS LETTER OF CREDIT, INCLUDING ANY AMENDMENTS, MUST BE SUBMITTED TO THE BANK FOR OUN ENDORSEMENT OF ANY PAYMENTS EFFECTED BY US AND/OR FOR CANCELLATION. ADDITIONAL CONDITIONS: 1. PARTIAL DRAWINGS ALLOWED 2. ALL BANKING CHARGES OTHER THAN THOSE OF THE ISSUING BANK ARE FOR ACCOUNT OF THE BENEFICIARY. DRAFTS DRAWN UNDER THIS CREDIT MUST BEAR THE CLAUSE: "DRAWN UNDER U.S. BANK NATIONAL ASSOCIATION IRREVOCABLE STANDBY LETTER OF CREDIT NO. SLCSSEA2249". THIS CREDIT IS SUBJECT TO "THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS" (1993 REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 500". THIS PAGE 1 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02249 QV�b,ank.(-,*StService Guaranteed WE HEREBY ENGAGE WITH YOU THAT DRAFT(S) DRAWN AND/OR DOCUMENTS PRESENTED UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS IRREVOCABLE STANDBY LETTER OF CREDIT WILL BE DULY HONORED UPON PRESENTATION TO US. DRAFT(S) AND DOCUMENTS MUST BE PRESENTED TO OUR OFFICE AT U.S. BANK NATIONAL ASSOCIATION, INTERNATIONAL DEPARTMENT, 1420 5T" AVENUE, 9TH FLOOR, SEATTLE, WA 98101, OR AT 101 S. CAPITOL BLVD., BS-ID-CB8, 8TH FLOOR, SUITE 814, BOISE, IDAHO 83702, ATTN: GARY DEGRANGE IN PERSON, OR BY OVERNIGHT COURIER, ON OR BEFORE THE EXPIRATION DATE OF THIS LETTER OF CREDIT. U.S. BANK NATIONAL ASSOCIATION INTE ATIONAL BANKING DIVISION AUTHO ED SIGNATURE Janet Joireman Asst. Vice President THIS PAGE 2 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02249 October 17, 2005 Ms. Janet Joireman U.S. Bank National Association International Dept., 14WH-277 1420 Fifth Avenue, 9th Floor Seattle, WA 98101 206-344-2398 fax 206-344-5369 Re. Return Letter of Credit for Paramount Subdivision # 7 for Paramount Development, Inc. After a site inspection and review of Paramount Subdivision # 7 by the Planning Department and the Public Works Department, it has been determined to release the original Letter of Credit of $81,2 1 O. 35 to you for the completion of water, sewer, street lights, landscaping, fencing and pressurized irrigation. Please use this letter as authorization for U. S. Bank to release the Irrevocable Letter of Credit No. SLCSSEA02249. If you have any questions please contact me. Thank you for your cooperation. Sincerely William G. Berg, Jr. City Clerk Enclosure gl 2 14), 3 L/c- V5 SURETY SPREADSHEET Project Name: Date Compiled: Letter of Credit/Bond No.: Issued By: Expiration Date: Check No.: Item PARAMOUNT #7 8/19/2005 SLCSSEA02249 US BANK 8/8/2006 Unfinished Partial Suret Party Responsible For Sign -Off Date Signed Off/ Person Comments Sanitary Sewer -internal $6,404.28 $0.00 $6,404.28 Public Works 9/9/05 MJ Sanitary Sewer -offsite $0.00 $0.00 Water -internal $7,502.18 $0.00 $7,502.18 Public Works 9/9/05 MJ Water- Offsite $0.00 $0.00 Public Works Street Lights $5,281.00 $528.10 $5,809.10 Building 9/12/05 JW Landscaping /Fencing $0.00 $0.00 PZ Pathways $0.00 $0.00 PZ Fencing $0.00 $0.00 PZ Tiling $0.00 $0.00 PZ Pressurized Irrigation $16,485.00 $0.00 $16,485.00 Public Works 8/10/05 MJ Gravity Irrigation $0.00 $0.00 NMID Other: $0.00 $0.00 PW $0.00 $0.00 $0.00 $0.00 $0.00 i $0.00 TOTAL: $35,672.46 $528.10 10/10/05 READY TO RELEASE IN FULL - KG $36,200.56 Will Berg From: Karie Glenn [glennk@meridiancity.org] Sent: Monday, October 10, 2005 4:04 PM To: watsonb@meridiancity.org; Will Berg Subject: Paramount V. loc Attachments: Paramount #7.xls Paramount #7.xls (14 KB) Ready to be released - detail sheet attached. Memo To: Will Berg From: Lenard A Grady, P.E. CC: File, Karie, P & Z Staff Date: 8/18/05 Re: Paramount #7 RECEIVED AUG 19 2005 City of Meridian City Clerk Office I have signed the plat for the above project and am forwarding it to you for your signature. Based on our research of the project files, all conditions imposed by the Public Works Department and City Council have been met. I am also forwarding original letter of credit No. SLCSSEA02249 (US Bank — dated 8/8/05) for $81,210.35. This represents surety for items, and in amounts, listed on the attached spreadsheet. Please call Kevin Maus, Engineering Northwest @ 376-5000 when the plat is ready to be picked up. Please call me if you have any questions. Thank you. From the desk of.. Lenard A Grady,P.E. City Engineer Meridian Public Works Department 660 E. W atertower Lane, Suite 200 Meridian, Idaho 83642 (208)898-5500 Fax: (208) 898-9551 • Page 1 gradyla,,merdiancity.org LL O Q bank. Five Star Service Guaranteed t'** U.S. BANK NATIONAL ASSOCIATION INTERNATIONAL DEPARTMENT 1420 FIFTH AVENUE, 9TH FLOOR SEATTLE, WA 98101 PHONE: 206-344-2398 FAX: 206-344-5365 AUGUST 8, 2005 CITY OF MERIDIAN 660 EAST WATERTOWER, SUITE 200 MREIDIAN, ID 83642 ATTN: BRAD WATSON PLEASE FIND ATTACHED OUR ORIGINAL STANDBY LETTER OF CREDIT NUMBER SLCSSEA02249 IN FAVOR OF YOURSELVES, FOR THE ACCOUNT OF: PARAMOUNT DEVELOPMENT, INC 12601 W. EXPLORER DRIVE, SUITE 200 BOISE, ID 83713 KINDLY ADDRESS ALL CORRESPONDENCE REGARDING THIS LETTER OF CREDIT TO THE ATTENTION OF OUR LETTER OF CREDIT DEPARTMENT, 1420 5TH AVENUE, 9TH FLOOR, SEATTLE, WA 98101, MENTIONING OUR REFERENCE NUMBER AS IT APPEARS ABOVE. TELEPHONE INQUIRIES CAN BE MADE TO EITHER JANET JOIREMAN AT 206-344-2398 OR MARY ALICE YOUNG AT 206-587-7049. U.S. BANK NATIONAL ASSOCIATION t-*--------�------------ I E DEPARTMENT Janet Joireman Asst. Vice President i EMbank. Five Star Service Guaranteed-' 2 U.S. BANK NATIONAL ASSOCIATION INTERNATIONAL DEPARTMENT 1420 FIFTH AVENUE, 9TH FLOOR SEATTLE, WA 98101 U.S.A. PHONE: 206-344-2398 FAX: 206-344-5078 IRREVOCABLE STANDBY LETTER OF CREDIT AUGUST 8, 2005 NEFICIARY: APPLICANT: -------------------------------------------- CITY OF MERIDIAN PARAMOUNT DEVELOPMENT, INC. 660 EAST WATERTOWER, SUITE 200 12601 W. EXPLORER DR., SUITE 200 MERIDIAN, ID 83642 BOISE, ID 83713 ATTN: BRAD WATSON -- ----- - ----------- - - -- - -- --------------------------------------------------------------------------- LETTER OF CREDIT NUMBER: SLCSSEA02249 nV\AAA^n\A^AAAn EXPIRY DATE: AUGUST 8, 2006 AT: OUR COUNTERS PRESENTLY LOCATED AT 1420 FIFTH AVENUE, 9TH FLOOR, INTERNATIONAL DEPARTMENT, SEATTLE, WA, 98101 ON OR BEFORE 5:00 P.M. OR AT 101 S. CAPITOL BLVD, 8TH FLOOR, SUITE 814, AND ATTN: GARY DEGRANGE, BOISE, ID 83702 AT 5:00 P.M. BOISE TIME. AMOUNT U.S. $81,210.35 -------------------------------------- NOT EXCEEDING: EIGHTY ONE THOUSAND TWO HUNDRED TEN AND 35/100 U.S. DOLLARS WE HEREBY ISSUE THIS IRREVOCABLE STANDBY LETTER OF CREDIT AVAILABLE BY YOUR DRAFT(S) DRAWN AT SIGHT ON U.S. BANK NATIONAL ASSOCIATION AND ACCOMPANIED BY THE FOLLOWING DOCUMENTS: 1. A STATEMENT PURPORTEDLY SIGNED BY AN AUTHORIZED INDIVIDUAL FOR THE BENEFICIARY STATING THAT THE AMOUNT OF DRAFT DRAWN REPRESENTS FUNDS DUE THE CITY OF MERIDIAN DUE TO THE FAILURE OF PARAMOUNT DEVELOPMENT INC. TO COMPLETE THE SEWER, WATER, PRESSURIZED IRRIGATION, STREET LIGHTS, LANDSCAPING AND FENCING IN PARAMOUNT SUBDIVISION NO. 7". 2. THE ORIGINAL OF THIS LETTER OF CREDIT, INCLUDING ANY AMENDMENTS, MUST BE SUBMITTED TO THE BANK FOR OUN ENDORSEMENT OF ANY PAYMENTS EFFECTED BY US AND/OR FOR CANCELLATION. ADDITIONAL CONDITIONS: 1. PARTIAL DRAWINGS ALLOWED 2. ALL BANKING CHARGES OTHER THAN THOSE OF THE ISSUING BANK ARE FOR ACCOUNT OF THE BENEFICIARY. DRAFTS DRAWN UNDER THIS CREDIT MUST BEAR THE CLAUSE: "DRAWN UNDER U.S. BANK NATIONAL ASSOCIATION IRREVOCABLE STANDBY LETTER OF CREDIT NO. SLCSSEA2249". THIS CREDIT IS SUBJECT TO "THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS" (1993 REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 500". THIS PAGE 1 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02249 4 (Mbank. Five Star Service Guaranteed C4) WE HEREBY ENGAGE WITH YOU THAT DRAFT(S) DRAWN AND/OR DOCUMENTS PRESENTED UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS IRREVOCABLE STANDBY LETTER OF CREDIT WILL BE DULY HONORED UPON PRESENTATION TO US. DRAFT(S) AND DOCUMENTS MUST BE PRESENTED TO OUR OFFICE AT U.S. BANK NATIONAL ASSOCIATION, INTERNATIONAL DEPARTMENT, 1420 5TH AVENUE, 9TH FLOOR, SEATTLE, WA 98101, OR AT 101 S. CAPITOL BLVD., BS-ID-CB8, 8TH FLOOR, SUITE 814, BOISE, IDAHO 83702, ATTN: GARY DEGRANGE IN PERSON, OR BY OVERNIGHT COURIER, ON OR BEFORE THE EXPIRATION DATE OF THIS LETTER OF CREDIT. U.S. BANK NATIONAL ASSOCIATION 7?UATIONAL BANKING DIVISION T HO HOED SIGNATURE Janet Joiremarl Asst. Vice President THIS PAGE 2 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02249