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Home My WebLink AboutBonding, Signing, Recording Final PlatCITY OF IDAHO tip. �r R �u` TRFASURE VT SINCE 1903 MAYOR Tammy de Weerd CITY COUNCIL MEMBERS Keith Bird February 8, 2006 Joseph W. Borton Charles M. Rountree Shaun Wardle Fax 884-8723 Fire I Re: Return Letter of Credit for Packard Acres Subdivision # 3 540 E. Franklin Road Gwen B. Thomson CITY DEPARTMENTS Mountain West Bank City Attorney/HR 2950 Magic View Drive, Suite 950 703 Main Street 898-5506 (City Attorney) 1 Meridian, ID 83642 898-5503 (HR) 855-9106 fax 855-9107 Fax 884-8723 Fire I Re: Return Letter of Credit for Packard Acres Subdivision # 3 540 E. Franklin Road for Packard Estates Development, LLC 888-1234 / fax 895-0390 Parks & Recreation After a site inspection and review of Packard Acres Subdivision # 3 11 W. Bower street Project by the Planning Department and the Public Works Department, it 888-3579 / fax 898-5501 has been determined to release the Letter of Credit of $94,645 60 to you Planning for the completed site improvements of sewer, water, street lights, 660 E. Watertower Lane Suite 202 landscaping, fencing, pressure irrigation, and play structures. Please use 884-5533 / fax 888-6844 this letter as, authorization for Mountain West Bank to release the Irrevocable Standby Letter of Credit No. 103. Police 1401 E. Watertower Lane 888-6678 / fax 846-7366 Ifou have an y y questions please contact me. Thank you for your cooperation. Public Works 660 E. Watertower Lane Suite 200 Sincerely 898-5500/fax 895-9551 - Building ,� ::54 l/ 660 E. Watertower Lane :::540 Suite 150 William G. Berg, Jr. 887-2211 / fax 887-1297 City Clerk - Wastewater 3401 N. Ten Mile Road 888-2191 / fax 884-0744 Enclosure - Water 2235 N.W. 8th Street 888-5242 / fax 884-1159 CITY HALL 33 EAST IDAHO AVENUE MERIDIAN, IDAHO 83642 (208) 888-4433 CITY CLERK -FAX 888-4218 FINANCE & UTILITY BILLING -FAX 887-4813 MAYOR'S OFFICE- FAX 884-8119 Printed on recycled paper IRREVOCABLE STANDBY LETTER OF CREDIT Place and Date of Issue: May 19, 2005 Meridian, Idaho Beneficiary: City of Meridian 660 E. Watertower Lane, Suite 200 Meridian, ID 83642 Letter of Credit Number: 103 Expiration Date: May 18, 2006 Automatically Renews: No Amount $94,645.60 Applicant: Packard Estates Development, LLC 6223 N. Discovery Way, Suite 100 Boise, ID 83713 /mountain West Bank 2950 Magic View Drive - Suite 150 Meridian, ID 83642 Telephone 208.855.9106 Fax 208.855.9107 We hereby issue in your favor this standby Letter of Credit which authorizes you to draw on Mountain West Bank, 2950 Magic View Drive, Suite 150, Meridian, Idaho, for the account of Packard Estates Development, LLC in an amount not exceeding, in lawful money of the United States of America, $94,645.60 (Ninety -Four Thousand Six Hundred Forty -Five Dollars and 60/100) available in your draft(s) at sight accompanied by the following documents: 1) The Beneficiary's written statement, signed by a person purportedly authorized by the Beneficiary, stating that Packard Estates Development, LLC has not completed the improvements for the Packard Acres No. 3 Subdivision. 2) The original of this Irrevocable Letter of Credit This letter is governed by the Uniform Customs and Practice for Documentary Credits (1983 Revision), International Chamber of Commerce Publication No. 500, and any subsequent revisions thereof approved by a Congress of the International Chamber of Commerce. Except as stated herein, this undertaking is not subject to any conditions or qualifications whatsoever. Should you have any occasion to communicate with us regarding this credit, kindly direct your communications to me. Very truly yours, Gwen B. Thomson, Vice President Mountain West Bank Approved: R. Craig Groves, Manager Packard Estates Development, LLC Serving the Communities of.• ♦ 16th & State, Boise ♦ Franklin & Cole, Boise ♦ Nampa ♦ Meridian s Ketchum ♦ Hailey ♦ Brigham City ♦ Park City ♦ Coeur d'Alene ♦ Hayden ♦ Post Falls ♦ Sandpoint www.mountainwest-bank.com ♦ Customer Service (800) 641-5401 ♦ InTouch (800) 641-5428 SURETY SPREADSHEET Project Name: Date Compiled: Letter of Credit/Bond No.: Issued By: Expiration Date: Check No.: Item Packard Acres #3 8/8/2005 103 Mounta West Bank 5/18/2006 na Unfinished Partial Surety Party Responsible For Si n -Off Date Signed Off/ Person Comments Sanitary Sewer -internal $11,820.73 $0.00 $11,820.73 Public Works 7/7/05 EA Sanitary Sewer -offsite $0.00 $0.00 Water -internal $12,047.04 $0.00 $12,047.04 Public Works 7/7/005 EA Water- Offsite $0.00 $0.00 Public Works Street Lights $2,456.00 $245.60 $2,701.60 Building 7/14/05 JW Landscaping $16,095.28 $1,609.53 $17,704.81 PZ 1/20/06 JW Pathways $0.00 $0.00 PZ Fencing $5,579.78 $557.98 $6,137.76 PZ 8/17/05 JG Tiling $0.00 $0.00 PZ Pressurized Irrigation $13,993.43 $1,399.34 $15,392.77 NMID 2/1/06 NMID Gravity Irrigation $0.00 $0.00 NMID Other: Play Structure $26,219.00 $2,621.90 $28,840.90 PZ 1/20/06 JW $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 TOTAL: $88,211.26 $6,434.35 2/3/06 READY TO BE RELEASED IN FULL - KG $94,645.60 Will Berg From: Karie Glenn Sent: Friday, February 03, 2006 10:14 AM To: Will Berg Subject: Packard Acres #3.xls Attachments: Packard Acres #3.xls I—J Packard Acres #3.xis (16 KB) Attached detail sheet for released of LOC. THANKS Memo To: Will Berg From: Brad Watson, P.E. CC: File, Karie, P & Z Staff Date: 8/5/05 Re: Packard Acres #3 RECEIVED AUG - 8 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. 103 (Mountain West Bank — dated 5/19/05) for $94,645.60. This represents surety for items, and in amounts, listed on the attached spreadsheet. Please call Pat Tealey with Tealey's Land Surveying at 385-0636 when the plat is ready to be picked up. Please call me if you have any questions. Thank you. From the desk of.. Brad Watson, P.E. Public Works Director Meridian Public Works Department 660 E. Watertower Lane, Suite 200 Meridian, Idaho 83642 (208)898-5500 Fax: (208) 898-9551 • Page 1 watsonb@mendianity.org IRREVOCABLE STANDBY LETTER OF CREDIT Place and Date of Issue: May 19, 2005 Meridian, Idaho Beneficiary: City of Meridian 660 E. Watertower Lane, Suite 200 Meridian, ID 83642 Letter of Credit Number: 103 Expiration Date: May 18, 2006 Automatically Renews: No Amount $94,645.60 Applicant: Packard Estates Development, LLC 6223 N. Discovery Way, Suite 100 Boise, ID 83713 Mountain � Wesi Bank 2950 Magic View Drive - Suite 150 Meridian, ID 83642 -Telephone 208.855.9106 Fax 208.855.9107 We hereby issue in your favor this standby Letter of Credit which authorizes you to draw on Mountain West Bank, 2950 Magic View Drive, Suite 150, Meridian, Idaho, for the account of Packard Estates Development, LLC in an amount not exceeding, in lawful money of the United States of America, $94,645.60 (Ninety -Four Thousand Six Hundred Forty -Five Dollars and 60/100) available in your draft(s) at sight accompanied by the following documents: 1) The Beneficiary's written statement, signed by a person purportedly authorized by the Beneficiary, stating that Packard Estates Development, LLC has not completed the improvements for the Packard Acres No. 3 Subdivision. 2) The original of this Irrevocable Letter of Credit This letter is governed by the Uniform Customs and Practice for Documentary Credits (1983 Revision), International Chamber of Commerce Publication No. 500, and any subsequent revisions thereof approved by a Congress of the International Chamber of Commerce. Except as stated herein, this undertaking is not subject to any conditions or qualifications whatsoever. Should you have any occasion to communicate with us regarding this credit, kindly direct your communications to me. Very truly yours, lLx ►L� 1�_-\V1C�uxi"�:h Gwen B. Thomson, Vice President Mountain West Bank Approved: R. Craig Groves, Manager Packard Estates Development, LLC Serving the Communities of: s 16th & State, Boise ♦ Franklin & Cole, Boise ♦ Nampa ♦ Meridian ♦ Ketchum ♦ Hailey ♦ Brigham City ♦ Park City ♦ Coeur d'Alene ♦ Hayden ♦ Post Falls ♦ Sandpoint www.mountainwest-bank.com ♦ Customer Service (800) 641-5401 e InTouch (800) 641-5428 LL a co Q