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Home My WebLink AboutBonding, Signing, Recording Final Plat (2)CITY OF X0141, IDAHO f s �c e�TFR I1h` TREhSUR, VN1�� SINCE 1993 MAYOR Tammy de Weerd CITY COUNCIL MEMBERS Keith Bird Joseph W. Borton Charles M. Rountree Shaun Wardle CITY DEPARTMENTS City Attorney/HR 703 Main Street 898-5506 (City Attorney) 898-5503 (HR) Fax 884-8723 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/fax 846-7366 Public Works 660 E. Watertower Lane Suite 200 898-5500/fax 895-9551 - 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, 2006 Ms. Eisa Chau Wells Fargo Bank Trade Services Division One Front Street, 21 st Floor San Francisco, CA 94111 1-800-798-2815 Re: Return Letter of Credit for Klamath Basin Subdivision for Randy & Linnea Worden After a site inspection and review of Klamath Basin Subdivision by the Planning Department and the Public Works Department, it has been determined to release the original Letter of Credit of $76,357.50 to you for the completion of sewer, water, street lights, landscaping, fencing and pressurized irrigation. Please use this letter as authorization for Wells Fargo Bank to release the Irrevocable Letter of Credit No. NZS569268. If you have any questions please contact me. Thank you for your cooperation. Sincerely William G. Berg, Jr. City Clerk Enclosure CITY FALL 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 Wells Fargo Bank, N.A. Trade Services Division, Northern California One Front Street, 21" Floor San Francisco, California 94111 Contact number: (800) 798-2815, Option 1 E-mail: sftrade(a)wellsfarao.com Irrevocable Letter of Credit Number NZS569268 Issue Date: April 13, 2006 Beneficiary: City of Meridian 660 E. Watertower, Suite 200 Meridian, ID 83642 Attention: Brad Watson At the request and for the account of Randy J. and Linnea R. Worden, 4975 South Locust Grove Rd., Meridian, ID 83642, we hereby establish our Irrevocable Letter of Credit in your favor in the amount of Seventy Six Thousand Three Hundred Fifty Seven and 501100 United States Dollars (US$76,357.50) available with us at our above office by payment of your draft(s) drawn on us at sight accompanied by your signed and dated statement worded as follows: "The undersigned, a duly authorized representative of the City of Meridian, hereby certifies that the amount drawn under Wells Fargo Bank, N.A. Letter of Credit No. NZS569268 represent funds due the City of Meridian due to the failure of Randy J. and Linnea R. Worden to complete the sewer, water, pressurized irrigation, street lights, landscaping and fencing in the Klamath Basin Subdivision." This Letter of Credit expires at our above office on January 26, 2007. Partial and multiple drawings are permitted under this Letter of Credit. Each draft must be marked "Drawn under Wells Fargo Bank, N.A. Letter of Credit Number NZS569268 dated April 13, 2006". Each draft must also be accompanied by the original of this Letter of Credit for our endorsement on this Letter of Credit of our payment of such draft. If any instructions accompanying a drawing under this Letter of Credit request that payment is to be made by transfer to an account with us or at another bank, we and/or such other bank may rely on an account number specified in such instructions even if the number identifies a person or entity different from the intended payee. Draft(s) and document(s) under this Letter of Credit may also be presented for payment at Wells Fargo Bank, Idaho, LC Operations, Boise Service Center Bldg, 3033 Elder Street, Boise, Idaho 83705, Attn: Joan Jenson. We hereby engage with you that all drafts drawn under and in compliance with the terms of this Credit will be duly honored by us if drawn and presented for payment at our office on or before the expiration date as specified herein. This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500, and engages us in accordance therewith. Very truly yours, Wel a o ank, N.A. By: Name: Eisa Chau Title: Assistant Vice President SURETY SPREADSHEET Project Name: Date Compiled: Letter of Credit/Bond No.: Issued By: Expiration Date: Check No.: Item KLAMATH BASIN 8/7/2006 nzs569268 Wells Fargo Bank 1/26/2007 na Unfinished Partial Surety Party Responsible For Sign -Off Date Signed Off/ Person Comments Sanitary Sewer -internal $8,550.00 $0.00 $8,550.00 Public Works 11/27/06 MOJ Sanitary Sewer -offsite $0.00 $0.00 Water -internal $10,977.00 $0.00 $10,977.00 Public Works 11/27/06 MOJ Water- Offsite $0.00 $0.00 Public Works Street Lights $2,530.36 $253.04 $2,783.40 Building 6/8/06 JW Landscaping $19,617.00 $1,961.70 $21,578.70 PZ 10/12/06 JV Pathways $0.00 $0.00 PZ Fencing $19,994.00 $1,999.40 $21,993.40 PZ 10/5/06 CH Tiling $0.00 $0.00 PZ Pressurized Irrigation $10,475.00 $0.00 $10,475.00 NMID 11/8/06 BH 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: $72,143.36 $4,214.14 Authorized reduction BALANCE TO REMAIN: 12/11/06 READY TO BE RELEASED IN FULL - KG $76,357.50 $76,357.50 SURETY SPREADSHEET Project Name: Date Compiled: Letter of Credit/Bond No.: Issued By: Expiration Date: Check No.: Item KLAMATH BASIN 8/7/2006 nzs569268 Wells Fargo Bank 1/26/2007 na Unfinished Partial Surety Party Responsible For Sign -Off Date Signed Off/ Person Comments Sanitary Sewer -internal $8,550.00 $0.00 $8,550.00 Public Works 11/27/06 MOJ Sanitary Sewer -offsite $0.00 $0.00 Water -internal $10,977.00 $0.00 $10,977.00 Public Works 11/27/06 MOJ Water- Offsite $0.00 $0.00 Public Works Street Lights $2,530.36 $253.04 $2,783.40 Building 6/8/06 JW Landscaping $19,617.00 $1,961.70 $21,578.70 PZ 10/12/06 JV Pathways $0.00 $0.00 PZ -- Fencing $19,994.00 $1,999.40 $21,993.40 PZ 10/5/06 CH Tiling $0.00 $0.00 PZ Pressurized Irrigation $10,475.00 $0.00 $10,475.00 NMID 11/8/06 BH Gravity Irrigation $0.00 $0.00 NMID Other: $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 PW TOTAL: $72,143.36 $4,214.14 Authorized reduction BALANCE TO REMAIN: 12/11/06 READY TO BE RELEASED IN FULL - KG $76,357.50 $76,357.50 Page 1 of 1 Will Berg From: Karie Glenn Sent: Monday, December 11, 2006 8:51 AM To: Will Berg Subject: Klamath Basin.LOC RELEASE Attachments: Klamath Basin.xls Attached detail sheet - ready to be released in full kg. 12/11/2006 Memo To: Will Berg From: Lenard A Grady, P.E. CC: File, Karie, P & Z Staff Date: 8/2/06 Re: Klamath Basin AUG 0 4 2006 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. NZS569268 (Wells Fargo Bank — dated 4/13/06) for $76,357.50. This represents surety for items, and in amounts, listed on the attached spreadsheet. Please call Dave Crawford w/ B&A Engineers @ 343-3381 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. Watertower Lane, Suite 200 Meridian, Idaho 83642 (208)898-5500 Fax: (208) 898-9551 • Page 1 ecadylLcr rnerdiancity.oig Wells Fargo Bank, N.A. Trade Services Division, Northern California One Front Street, 21" Floor San Francisco, California 94111 Contact number: (800) 798-2815, Option 1 E-mail: sftrade(&wellsfareo.com Irrevocable Letter of Credit Number NZS569268 Issue Date: April 13, 2006 Beneficiary: City of Meridian 660 E. Watertower, Suite 200 Meridian, ID 83642 Attention: Brad Watson At the request and for the account of Randy J. and Linnea R. Worden, 4975 South Locust Grove Rd., Meridian, ID 83642, we hereby establish our Irrevocable Letter of Credit in your favor in the amount of Seventy Six Thousand Three Hundred Fifty Seven and 501100 United States Dollars (US$76,357.50) available with us at our above office by payment of your draft(s) drawn on us at sight accompanied by your signed and dated statement worded as follows: "The undersigned, a duly authorized representative of the City of Meridian, hereby certifies that the amount drawn under Wells Fargo Bank, N.A. Letter of Credit No. NZS569268 represent funds due the City of Meridian due to the failure of Randy J. and Linnea R. Worden to complete the sewer, water, pressurized irrigation, street lights, landscaping and fencing in the Klamath Basin Subdivision." This Letter of Credit expires at our above office on January 26, 2007. Partial and multiple drawings are permitted under this Letter of Credit. Each draft must be marked "Drawn under Wells Fargo Bank, N.A. Letter of Credit Number NZS569268 dated April 13, 2006". Each draft must also be accompanied by the original of this Letter of Credit for our endorsement on this Letter of Credit of our payment of such draft. If any instructions accompanying a drawing under this Letter of Credit request that payment is to be made by transfer to an account with us or at another bank, we and/or such other bank may rely on an account number specified in such instructions even if the number identifies a person or entity different from the intended payee. Draft(s) and document(s) under this Letter of Credit may also be presented for payment at Wells Fargo Bank, Idaho, LC Operations, Boise Service Center Bldg, 3033 Elder Street, Boise, Idaho 83705, Attn: Joan Jenson. We hereby engage with you that all drafts drawn under and in compliance with the terms of this Credit will be duly honored by us if drawn and presented for payment at our office on or before the expiration date as specified herein. This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500, and engages us in accordance therewith. Very truly yours, oWelaank, N.A. By:Name: saau Title: Assistant Vice President N M N M