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Home My WebLink AboutBonding, Signing, Recording Final Plat- Building cn 0- 044 IDAHO y � C`F�eR n ` TREASURE VAUE'SINCE William G. Berg, Jr. 1903 MAYOR - Water Tammy de Weerd Enclosure CITY COUNCIL MEMBERS Keith Bird October 97, 2005 Christine Donnell Charles M. Rountree Shaun Wardle Ms. Janet Joireman CITY DEPARTMENTS U.S. Bank National Association Fire International Dept., WWH-277 540 E. Franklin Road 888-1234 / fax 895-0390 9420 Fifth Avenue, 9th Floor Seattle, WA 98909 Parks & Recreation 206-344-2398 fax 206-344-5369 11 W. Bower Street 888-3579 / fax 898-5501 Re; Return Letter of Credit for Paramount Subdivision # 6 Planning 660 E. Watertower Lane After a site inspection and review of Paramount Subdivision # Suite 202 884-5533 / fax 888-6844 6 by the Planning Department and the Public Works Department, it has been determined to release the original Letter of Credit of $83,022.63 as well as Police all the amendments to you for the completion of water, sewer, lights, 1401 E. Watertower Lane street landscaping, fencing and pressurized irrigation. Please use this letter as 888-6678 / 846-7366 authorization for U. S. Bank to release the Irrevocable Letter of Credit No. Public Works SLCSSEA02293. 660 E. Watertower Lane Suite 200 898-5500 / fax 898-9551 if you have any questions please contact me. Thank ou our yfor y cooperation. - Building 660 E. Watertower Lane Sincerely Suite 150 887-2211 / fax 887-1297 - Wastewater 3401 N. Ten Mile Road William G. Berg, Jr. 888-2191 / fax 884-0744 City Clerk - Water 2235 N.W. 8th Street Enclosure 888-5242 / fax 884-1159 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 rMbank. Five Star Semce 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 JUNE 28, 2005 CITY OF MERIDIAN 660 EAST WATERTOWER, SUITE 200 MERIDIAN, ID 83642 ATTN: BRAD WATSON PLEASE FIND ATTACHED OUR ORIGINAL STANDBY LETTER OF CREDIT NUMBER SLCSSEA02213 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 RNA ONAL DEPARTMENT Janet Joireman Asst. Vice President embank® Five Star Service Guaranteed C*) 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 SEPTEMBER 28, 2005 ENEFICIARY: 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: SLCSSEA02213 /V\AA/VN/V\^,^l%AAM EXPIRY DATE: JUNE 27, 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. $83,022.63 ---------------------------- NOT EXCEEDING: EIGHTY THREE THOUSAND TWENTY TWO AND 63/100 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: I. A STATEMENT PURPORTEDLY SIGNED BY AN AUTHORIZED INDIVIDUAL FOR THE CITY OF MERIDIAN 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. 6". 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: 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. SLCSSEA2213". 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. SLCSSEA02213 ank® FiveSra SefviceGuarimw 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 5TH AVENUE, 9TH FLOOR, SEATTLE, WA 98 10 1, 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 INTERNATIONAL B KING DIVISION UTHORI SIGNATURE Janet J®ireman Asst. slice President THIS PAGE 2 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02213 M-3bank. Five Sf- Service Guaranteed ,* U.S. BANK NATIONAL ASSOCIATION INTERNATIONAL DEPARTMENT 1420 FIFTH AVENUE, 9TH FLOOR SEATTLE, WA 98101 PHONE: 206-344-2398 FAX: 206-344-5365 06/29/05 CITY OF MERIDIAN 660 EAST WATERTOWER, SUITE 200 MERIDIAN, ID 83642 ATTN: BRAD WATSON PLEASE FIND ATTACHED OUR ORIGINAL AMENDMENT TO OUR LETTER OF CREDIT NUMBER SLCSSEA02213 ISSUED 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 JANET JOIREMAN AT 206-344-2398, MARY ALICE YOUNG AT 206-587-7049. U.S. BANK NATIONAL!ASSOCIATION l ------------------------- I ERNAT NAL DEPARTMENT Janet Joireman Asst, Vice.Preside CVbank. Fiv, star service Guaranteed *� U. S. Bank National Association International Dept., WWH-277 1420 Fifth Avenue, 9th Floor Seattle, WA 98101 U.S.A. Phone: 206-344-2398 Fax: 206-344-5369 AMENDMENT TO IRREVOCABLE STANDBY LETTER OF CREDIT Amendment Date: JUNE 29, 2005 Beneficiary: Applicant: CITY OF MERIDIAN PARAMOUNT DEVELOPMENT, INC 660 EAST WATERTOWER, SUITE 200 12601 W. EXPLORER DRIVE, SUITE 200 MERIDIAN, ID 83642 ( BOISE, ID 83713 ATTN: BRAD WATSON ------------------------------------------------------------------------- Letter of Credit Number Amendment Number SLCSSEA02213 1 ------------------------------------------------------------------------ We hereby amend this irrevocable standby letter of credit as follows: 1. Letter of Credit issue date is June 28, 2005. All other terms and conditions as previously stated remain unchanged. This amendment is to be considered part of the above referenced Letter of Credit and must be attached thereto. U.S. Bank National Association Seattle, Washington Ir —---- ---------------------- A oriz Signature / MAY7 Janet Joireman Asst. Vice President SURETY SPREADSHEET Project Name: Date Compiled: Letter of Credit/Bond No.: Issued By: Expiration We: Check No.: Item PARAMOUNT #6 7/11/2005 SLCSSEA02213 US BANK 6/27/2006 Unfinished Partial Surety Party Responsible For Sign -Off Date Signed Off/ Person Comments Sanitary Sewer -internal $27,958.98 $27,958.98 Public Works 9/9/05 MJ Sanitary Sewer -offsite $0.00 $0.00 - --- Water-internal $37,629.75 $37,629.75 Public Works 9!9/05 MJ Water- Offsite $0.00 $0.00 Public Works Street Lights $4,716.00 $471.60 $5,187.60 Building 9/12/05 JW Landscaping $3,395.00 $339.50 $3,734.50 PZ 10/14/05 CH Pathways $0.00 $0.00 PZ Fencing $3,118.00 $311.80 $3,429.80 PZ 8/17/05 CH Tiling $0.00 $0.00 PZ _ Pressurized Irrigation $4,620.00 $462.00 $5,082.00 NMID 9/9/05 MJ Gravity Irrigation $0.00 $0.00 NMID Other: $0.00 $0.00 PW $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 TOTAL: $15,849.00 $67,173.63 10/14/05 READY TO BE RELEASED IN FULL - KG $83,022.63 Will Berg From: Karie Glenn [glennk@meridiancity.org] Sent: Monday, October 17, 2005 11:31 AM To: watsonb@meridiancity.org; Will Berg Subject: Paramount #6.xls Attachments: Paramount #6.xls I Paramount #6.xls (14 KB) Detail sheet attached. RECEIVED JUL - 5 2005 City of Meridian City Clerk Office Memo To: Will Berg From: Brad Watson, P.E. CC: File, Karie, P & Z Staff Date: 7/1/05 Re: Paramount Subdivision No. 6 I have signed the plat for the above project and am returning it to Engineering Northwest. You signed it previously in anticipation of your vacation. Based on our research of the project files, all conditions imposed by the Public Works Department and City Council have been met. I am forwarding original letter of credit No. SLCSSEA02213 (U.S. Bank — dated 9/28/05?? w/ expiry date of 6/27/05) for $83,022.63. This represents surety for items, and in amounts, listed on the attached spreadsheet. Thank you. ,-) • Page 1 From the desk of.. Brad Watson, P.E. City Engineer Meridian Public Works Department 660 E. Watertower Lane, Suite 200 Meridian, Idaho 83642 (208)898-5500 Fax: (208) 887-1297 watsonb@ci.meridian.id.us bank. Five Star Service Guaranteed U.S. BANK NATIONAL ASSOCIATION INTERNATIONAL DEPARTMENT 1420 FIFTH AVENUE, 9TH FLOOR SEATTLE, WA 98101 PHONE: 206-344-2398 FAX: 206-344-5365 JUNE 28, 2005 CITY OF MERIDIAN 660 EAST WATERTOWER, SUITE 200 MERIDIAN, ID 83642 ATTN: BRAD WATSON PLEASE FIND ATTACHED OUR ORIGINAL STANDBY LETTER OF CREDIT NUMBER SLCSSEA02213 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 r�� ------ --------------- I RNA ONAL DEPARTMENT Janet Joireman Asst, Vice President ,a�.D l-livED JUN 2 g 2005 Public Works embank® Five Star Service Guaranteed 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 SEPTEMBER 28, 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: SLCSSEA02213 /IN/V\AAAAA.�A EXPIRY DATE: JUNE 27, 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. $83,022.63 NOT EXCEEDING: EIGHTY THREE THOUSAND TWENTY TWO AND 63/100 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 CITY OF MERIDIAN 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. 6". 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: 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. SLCSSEA2213". 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. SLCSSEA02213 [oba9k.,,,,,Five Sta Senv.ntmd 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 INTERNATIONAL B NKING DIVISION UTHORIZ SIGNATURE Janet Joireman Asst. Vice President THIS PAGE 2 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02213 rank® Five Star Service G..teed U.S. BANK NATIONAL ASSOCIATION INTERNATIONAL DEPARTMENT 1420 FIFTH AVENUE, 9TH FLOOR SEATTLE, WA 98101 PHONE: 206-344-2398 FAX: 206-344-5365 06/29/05 CITY OF MERIDIAN 660 EAST WATERTOWER, SUITE 200 MERIDIAN, ID 83642 ATTN: BRAD WATSON PLEASE FIND ATTACHED OUR ORIGINAL AMENDMENT TO OUR LETTER OF CREDIT NUMBER SLCSSEA02213 ISSUED 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 JANET JOIREMAN AT 206-344-2398, MARY ALICE YOUNG AT 206-587-7049. U.S. BANK NATIONAIf ASSOCIATION ---- --------------------- I ENAT NAL DEPARTMENT Janet JOireman Asst. Vice Presi1e0t dank® Pave star service Guaranteed ** U.S. Bank National Association International Dept., WWH-277 1420 Fifth Avenue, 9th Floor Seattle, WA 98101 U.S.A. Phone: 206-344-2398 Fax: 206-344-5369 AMENDMENT TO IRREVOCABLE STANDBY LETTER OF CREDIT Amendment Date: JUNE 29, 2005 Beneficiary: Applicant: CITY OF MERIDIAN PARAMOUNT DEVELOPMENT, INC 660 EAST WATERTOWER, SUITE 200 12601 W. EXPLORER DRIVE, SUITE 200 MERIDIAN, ID 83642 BOISE, ID 83713 ATTN: BRAD WATSON ------------------------------------------- Letter of Credit Number Amendment Number SLCSSEA02213 1 ------------------------------------------- We hereby amend this irrevocable standby letter of credit as follows: 1. Letter of Credit issue date is June 28, 2005. All other terms and conditions as previously stated remain unchanged. This amendment is to be considered part of the above referenced Letter of Credit and must be attached thereto. U.S. Bank National Association Seattle, Washington c ---- ---------------------- A orizz,. Signature / MAY7 Janet Joireman Asst. Vice President N 4LL r t0 a an. 00 LO O 0 �2206«s zman. O O N O N O M OrOOtOtt)00 to 04 Gi Orn O6400 C04 -V) .00 O Q w � 60 00 U) C) 0000 0)01-0 0000 00 LANVf O O O N to r uj M 00 CO O to f0 tD P- M N N P► M 64 d) C7 69 th 66 000 t{} Q 69 69 � 0 0 0 0 0 Lo Lo Lo 0 0 0 0 0 0 LO y„ 1'- r (3) tp O 6*3 O N co u) O 00 co N Z7 :3 to Cl t0 r-� C7 O Cf1 E LO r- 6-69�� SII 64 64 Q O w ,Q a> Q cu y a O � 3 O .. C � (n rn E 0 F lo a ai U .. i C° = y C y..0 a Z7% .` •°� L w+ L a, C c O C4 to O � J Co cr, O 0> N- U C Q Ncc r y O p O U) 3: c9 a u. U ! F a