HomeMy WebLinkAboutBonding, Signing, Recording Final PlatDECEIVE
APR 15 2005
City of Meridian
city Clerk Office
Memo
To: Will Berg
From: Brad Watson, P.E.
CC: File, Karie, P & Z Staff
Date: 4/14/2005
Re: Tuscany Village #2
I have signed the plat for the above project and am forwarding it to you for your signature.
am also forwarding original letter of credit No. SLCSSEA02037 (USBank — dated 1/31/05)
for $219,923.92. This represents surety for items, and in amounts, listed on the attached
spreadsheet.
Please call Kent Brown of Briggs Engineering at 344-9700 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.
City Engineer
Meridian Public Works Department
660 E. Watertower Lane, Suite 200
Meridian, Idaho 83642
(208)898-5500
Fax: (208) 887-1297
0 Page 1 watsonb@ci.meridian.id.us
TUSCANY VILLAGE SUBDIVISION NO. 2
AS OF 1/27/2005
Required Surety Amount
Bid
Status
Amount Responsible
Surety Item Description
Amount
% Complete
Remaining Party for sign -off
Sewer
$91,707.00
50%
$45,853.50 Public Works
Water
$90,519.00
50%
$45,259.50 Public Works
Gravity Irrigation
Pressure Irrigation - Internal
$31,388.00
0%
0%
$0.00
$34,526.80
Public Works/NMID
Pump Station Modification
0%
$0.00
Public Works/NMID
Street Lights
$7,519.00
0%
$8,270.90
Bldg. Dept.
Landscaping
$30,045.94
0%
$33,050.53
P & Z
Fencing
$48,147.90
0%
$52,962.69
P & Z
Pathway
0%
$0.00
P & Z
Construction Cost Total
$299,326.84
Total Remaining Const Value
$219,923.92
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embank®
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
JANUARY 31, 2005
CITY OF MERIDIAN
660 EAST WATERTOWER, SUITE 200
MERIDIAN, ID 83642
PLEASE FIND ATTACHED OUR ORIGINAL STANDBY
SLCSSEA02037 IN FAVOR OF YOURSELVES, FOR
TUSCANY DEVELOPMENT, INC.
660 E. FRANKLIN, SUITE 240
P.O. BOX 344
MERIDIAN, ID 83680
LETTER OF CREDIT NUMBER
THE ACCOUNT OF:
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
a
4wv
-- ---- --------------------
IN RNATI4 AL DEPARTMENT
embank®�
Five Star Service Guaranteed *r�
U.S. BANK NATIONAL ASSOCIATION
INTERNATIONAL DEPARTMENT
1420 FIFTH AVENUE, 9TH FLOOR
SEATTLE, WA 98101 U.S.A.
PHONE: 206-344-2398
FAX: 206-344-5365
IRREVOCABLE STANDBY LETTER OF CREDIT
------------------------
JANUARY 31, 2005
-------------- ---------------------------------------------------------------------
BENEFICIARY: APPLICANT:
CITY OF MERIDIAN TUSCANY DEVELOPMENT, INC.
660 EAST WATERTOWER, SUITE 200 660 E. FRANKLIN, SUITE 240
MERIDIAN, ID 83642 P.O. BOX 344
MERIDIAN, ID 83680
LETTER OF CREDIT NUMBER: SLCSSEA02037
EXPIRY DATE: JANUARY 24, 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., 8'H
FLOOR, SUITE 814, AND ATTN: GARY DEGRANGE, BOISE, ID 83702 AT 5:00 P.M. BOISE TIME.
AMOUNT U.S.$219,923.92
--------------------------
NOT EXCEEDING TWO HUNDRED NINETEEN THOUSAND NINE HUNDRED TWENTY THREE AND
92/100 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 OF THE
BENEFICIARY STATING THAT THE AMOUNT OF DRAFT DRAWN REPRESENTS FUNDS DUE THE
CITY OF MERIDIAN DUE TO THE FAILURE OF TUSCANY DEVELOPMENT, INC. TO COMPLETE
THE SEWER, WATER PRESSURIZED IRRIGATION, STREET LIGHTS, LANDSCAPING AND
FENCING ON TUSCANY VILLAGE SUBDIVISION #2".
2. THE ORIGINAL OF THIS LETTER OF CREDIT, INCLUDING ANY AMENDMENTS.
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. SLCSSEA02037".
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. SLCSSEA02037
embank®
Five Star Service G..teed t�,r
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 BANDING DIVISION
Q�444 �4Z •SNL _
AUTHO ED SIGNATURE
THIS PAGE 2 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02037
TUSCANY VILLAGE SUBDIVISION NO. 2
Required Surety Amount
AS OF 1/27/2005
Bid
Status
Amount
Responsible
Surety Item Description
Amount
% Complete
Remaining
Party for sign -off
Sewer
$91,707.00
50%
$45,853.50
Public Works
Water
$90,519.00
50%
$45,259.50
Public Works
Gravity Irrigation
0%
$0.00
Pressure Irrigation - Internal
$31,388.00
0%
$34,526.80
Public Works/NMID
Pump Station Modification
0%
$0.00
Public Works/NMID
Street Lights
$7,519.00
0%
$8,270.90
Bldg. Dept.
Landscaping
$30,045.94
0%
$33,050.53
P & Z
Fencing
$48,147.90
0%
$52,962.69
P & Z
Pathway
0%
$0.00
P & Z
Construction Cost Total
$299,326.84
Total Remaining Const Value
$219,923.92
City
of
Meridian
Public
Works
Dept.
Memo
TO: Wayne Barber, PLS, Briggs Engineering (345-2950)
Kent Brown, Briggs Engineering (345-2950)
From: Brad Watson, P.E.
O----�
CC: File
Date: 4/14/05
Re: Tuscany Village Subdivision No. 2
I signed the plat for Tuscany Village Subdivision No. 2. However, it is signed with the understanding
you will add the plat notes required in the January 20, 2004 staff report and referenced in my review
memo to you on 3/21/05 prior to it being submitted to Ada County for signature. The revised 3/30/05
plat you submitted to me still has not addressed these items.
Site Specific Comment #9. Plat Notes. None of the notes required to be added or revised were
addressed on the revised plat.
6. Add or revise the following notes on the face of the plat:
(10.) Revise note to exclude Lot 33, Block 6, as a drainage lot. (Add this lot and block
to note #11). OK — revised plat address.,
(14.) No building permits shall be issued on any lots in this subdivision until the
provisions of the recorded Development Agreement Instrument No. 103181093
have been fulfilled as determined by the City of Meridian.
(15.) Fencing adjacent to pathways must be no greater than four feet in height if solid
sight -obscuring material is used.
DEC 14 2005
City of Meridian
City Clerk Office
SURETY SPREADSHEET
Project Name:
Date Compiled:
Letter of Credit/Bond No.:
Issued By:
Expiration Date:
Check No.:
Item
Tuscany \tiIlage #2
4/14/2005
SLCSSEA02037
US Bank
1/2412006
na
Unfinished
Partial
Surety
Party Responsible
For Sign -Off
Date Signed Off/
Person Comments
Sanitary_ Sewer -internal
----__
--$45,853.50
$45,853.50
ublic- Works -
717105 -DH -_-
Sanitary Sewer -offsite
$0.00
$0.00
Water -internal
$45,259.50
$45,259.50
Public Works
7/7/05 DH
Water- Offsite
$0.00
$0.00
Public Works
Street Lights
$7,519.00
$751.90
$8,270.90
Building
5/10/05 HW
Landscaping
$30,045.94
$3,004.59
$33,050.53
PZ
reduce to 2760.0011x`30/05
Pathways
$0.00
$0.00
PZ
Fencing
$48,147.90
$4,814.79
$52,962.69
PZ
6/9/05 JW
Tiling
$0.00
$0.00
PZ
Pressurized Irrigation
$31,388.00
$3,138.80
$34,526.80
NMID
7!7/05 DH
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: $117,100.84 $102,823.08
12/1/05 reduction approved to 2760.00 should it be received.
$219,923.92
f
�!
bank®/*�
Five Star Service Guaranteed C*l
12/12/05
CITY OF MERIDIAN
660 EAST WATERTOWER,
MERIDIAN, ID 83642
PLEASE FIND ATTACHED
NUMBER SLCSSEA02037
ACCOUNT OF:
U.S. BANK NATIONAL ASSOCIATION
INTERNATIONAL DEPARTMENT
1420 FIFTH AVENUE, 9TH FLOOR
SEATTLE, WA 98101
PHONE: 206-344-2398
FAX: 206-344-5365
SUITE 200
OUR ORIGINAL AMENDMENT TO OUR LETTER OF CREDIT
ISSUED IN FAVOR OF YOURSELVES, FOR THE
TUSCANY DEVELOPMENT, INC.
660 E. FRANKLIN, SUITE 240
P.O. BOX 344
MERIDIAN, ID 83680
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
-- ---- ---------------------
IN,ERNAT NAL DEPARTMENT
jriz jolrrin
Asst. Vice President
bank.
Five Star Sery ce Guaranteed k 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
DECEMBER 12, 2005
Beneficiary: Applicant:
CITY OF MERIDIAN TUSCANY DEVELOPMENT, INC.
660 EAST WATERTOWER, SUITE 200 660 E. FRANKLIN, SUITE 240
MERIDIAN, ID 83642 P.O. BOX 344
MERIDIAN, ID 83680
---------------------------------------------
Letter of Credit Number Amendment Number
SLCSSEA02037 1
---------------------------------------------
We hereby amend this irrevocable standby letter of credit as follows:
1. Letter of Credit amount is decreased by $217,163.92 to a new
available balance of $2,760.00.
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
--- -----
A u rized ignature / MAY7
Asst. Vice President
SURETY SPREADSHEET
Project Name:
Date Compiled:
Letter of Credit/Bond No.:
Issued By:
Expiration Date:
Check No.:
Item
Tuscany Village #2
4/14/2005
SLCSSEA02037
US Bank
4Q4(2006
na
Unfinished
4/16/2006
Partial
Surety
Party Responsible
For Sign -Off
Date Signed Off/
Person Comments
Sanitary Sewer -internal
$45,853.50
$45,853.50
Public Works
7/7/05 DH
Sanitary Sewer -offsite
$0,00
$0.00
Water -internal
$45,259.50
$45,259.50
Public Works
7/7/05 DH
Water- Offsite
$0.00
$0.00
Public Works
Street Lights
$7,519.00
$751.90
$8,270.90
Building
5/10/05 HW
Landscaping
$30,045.94
$3,004.59
$33,050.53
PZ
4/10/06 JW reduce to 2760.00 11/30/05
Pathways
$0.00
$0.00
PZ
Fencing
$48,147.90
$4,814.79
$52,962.69
PZ
6/9/05 JW
Tiling
$0.00
$0.00
PZ
Pressurized Irrigation
$31,388.00
$3,138.80
$34,526.80
NMID
7/7/05 DH
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: $117,100.84 $102,823.08
12/1/05 reduction approved to 2760.00 should k be received.
4/10/06 READY TO BE RELEASED IN FULL KG
$219,923.92
rec'd 12/13105 kg
Page 1 of 1
Will Berg
From: Karie Glenn
Sent: Monday, April 10, 2006 8:49 AM
To: Will Berg
Subject: LOC Release - Tuscany Village #2
Attachments: Tuscany Village #2.xls
Attached detail sheet ready to be released in full.
4/10/2006
, I CITY OF
� ID,�Fio 4i
PR °i[he Th'E.LSURE V NYEY
SINCE
1903
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
April 14, 2006
Ms. Janet Joireman
U. S. Bank - International Department
Letter of Credit Department
1420 5th Avenue, 9th Floor
Seattle, WA 98101
Re: Return Letter of Credit for Tuscany Village Subdivision # 2
for Tuscany Development, Inc.
After a site inspection and review of Tuscany Village Subdivision # 2 by
the Planning Department and the Public Works Department, it has been
determined to release the Letter of Credit of $219,923.92 and Amendment
# 1 to you for the completion of sewer, water, 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.
SLCSSEA02037.
If you have any questions please contact me. Thank you for your
cooperation.
Sincerely
J40
William G. Berg, Jr.
City Clerk
Enclosure
CITY MALL 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
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bank®
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U.S. BANK NATIONAL ASSOCIATION
INTERNATIONAL DEPARTMENT
1420 FIFTH AVENUE, 9TH FLOOR
SEATTLE, WA 98101
PHONE: 206-344-2398
FAX: 206-344-5365
12/12/05
CITY OF MERIDIAN
660 EAST WATERTOWER, SUITE 200
MERIDIAN, ID 83642
PLEASE FIND ATTACHED OUR ORIGINAL AMENDMENT TO OUR LETTER OF CREDIT
NUMBER SLCSSEA02037 ISSUED IN FAVOR OF YOURSELVES, FOR THE
ACCOUNT OF:
TUSCANY DEVELOPMENT, INC.
660 E. FRANKLIN, SUITE 240
P.O. BOX 344
MERIDIAN, ID 83680
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
IN.ERNAT NAL DEPARTMENT
Asst. Face President
embank®
Five 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
DECEMBER 12, 2005
--------------------------------------
Beneficiary: I Applicant:
CITY OF MERIDIAN I TUSCANY DEVELOPMENT, INC.
660 EAST WATERTOWER, SUITE 200 1 660 E. FRANKLIN, SUITE 240
MERIDIAN, ID 83642 P.O. BOX 344
MERIDIAN, ID 83680
-----------------------------------(-
--------------
--------------------
Letter of Credit Number Amendment Number
SLCSSEA02037 1
-----------------------------
We hereby amend this irrevocable standby letter of credit as follows:
1. Letter of Credit amount is decreased by $217,163.92 to a new
available balance of $2,760.00.
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
G�1�f'
--- ----- ------
-e---------
Au rized ignature / MAY7
Janet Joirernan
Asst. Mice President
bank.
Five Star Service G.. ed
U.S. BANK NATIONAL ASSOCIATION
INTERNATIONAL DEPARTMENT
1420 FIFTH AVENUE, 9TH FLOOR
SEATTLE, WA 98101
PHONE: 206-344-2398
FAX: 206-344-5365
JANUARY 31, 2005
CITY OF MERIDIAN
660 EAST WATERTOWER, SUITE 200
MERIDIAN, ID 83642
PLEASE FIND ATTACHED OUR ORIGINAL STANDBY
SLCSSEA02037 IN FAVOR OF YOURSELVES, FOR
TUSCANY DEVELOPMENT, INC.
660 E. FRANKLIN, SUITE 240
P.O. BOX 344
MERIDIAN, ID 83680
LETTER OF CREDIT NUMBER
THE ACCOUNT OF:
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
'YuY
--- ---- --------------------
IN RNATI AL DEPARTMENT
bank®
t 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: 206-344-5365
IRREVOCABLE STANDBY LETTER OF CREDIT
JANUARY 31, 2005
BENEFICIARY: APPLICANT:
CITY OF MERIDIAN TUSCANY DEVELOPMENT, INC.
660 EAST WATERTOWER, SUITE 200 660 E. FRANKLIN, SUITE 240
MERIDIAN, ID 83642 P.O. BOX 344
MERIDIAN, ID 83680
LETTER OF CREDIT NUMBER: SLCSSEA02037
EXPIRY DATE: JANUARY 24, 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., 8m
FLOOR, SUITE 814, AND ATTN: GARY DEGRANGE, BOISE, ID 83702 AT 5:00 P.M. BOISE TIME.
AMOUNT U.S.$219,923.92
NOT EXCEEDING TWO HUNDRED NINETEEN THOUSAND NINE HUNDRED TWENTY THREE AND
92/100 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 OF THE
BENEFICIARY STATING THAT THE AMOUNT OF DRAFT DRAWN REPRESENTS FUNDS DUE THE
CITY OF MERIDIAN DUE TO THE FAILURE OF TUSCANY DEVELOPMENT, INC. TO COMPLETE
THE SEWER, WATER PRESSURIZED IRRIGATION, STREET LIGHTS, LANDSCAPING AND
FENCING ON TUSCANY VILLAGE SUBDIVISION #2".
2. THE ORIGINAL OF THIS LETTER OF CREDIT, INCLUDING ANY AMENDMENTS.
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. SLCSSEA02037".
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. SLCSSEA02037
7 bank®
Five Star Service G.tmd *f r
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, 8'H 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 BANDING DIVISION
AUTHO ED SIGNATURE
THIS PAGE 2 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02037