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Home My WebLink AboutBonding, Signing and Recording Final PlatCITY OF IDAHO CF SFR %Me TREASURE V AY gINCE 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 January 19, 2007 Tammy Sorensen Washington Federal Savings 3197 N. Cole Road Boise, ID 83704 378-7382 fax 338-7374 Re: Return Letter of Credit for Tuscany Lakes # 3 Subdivision for Tuscany Development, Inc. After a site inspection and review of Tuscany Lakes # 3 Subdivision Project by the Planning Department and the Public Works Department, it has been determined to release the Letter of Credit of $282,343.98 to you for the site completion of sewer, water, street lights, landscaping, fencing, pressurized irrigation and waterfalls. Please use this letter as authorization for Washington Federal Savings to release the Irrevocable Letter of Credit No. 000572. If you have any questions please contact me. Thank you for your cooperation. Sincerely i� William G. Berg, Jr. City Clerk Enclosure 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 I�J IRREVOCABLE LETTER OF CREDIT NUMBER 000572 To:CITY OF MERIDIAN Dear Sirs: We hereby establish our Irrevocable Standby Letter of Credit in your favor for the account of TUSCANY DEVELOPMENT INC. up to the aggregate amount of $282,343.98 available by your drafts drawn at sight on us presented at WASHINGTON FEDERAL SAVINGS, 3197 N COLE ROAD, BOISE, IDAHO 83704 PH. 4208-378-7382 Drafts must be accompanied by Beneficiary's signed statement that TUSCANY DEVELOPMENT INC. has failed to perform or is in default of COMPLETING SEWER, WATER, GRAVITY IRRIGATION, PRESSURIZED IRRIGATION, STREET LIGHTS, WATERFALLS, LANDSCAPING AND FENCING IN TUSCANY LAKES. NO 3. Drafts drawn under this credit must bear the following clause: Drawn under Washington Federal Savings Irrevocable Standby Letter of Credit Number 000572 dated 02/02/06 The amount of each draft must be endorsed thereon. Partial drawings are permitted. We hereby engage with the drawer, endorsers and holders in due course of drafts drawn under and in compliance with the terms of this credit, that such drafts will be duly honored upon presentation to the drawee bank. This Letter of Credit expires 0 2/ 0 2/ 0 7 Very truly, Bye__1i -� TAMMY SORENSEN( MANAGER t Provisions applicable to the credit: Unless otherwise expressly stated, this credit is subject to the "Uniform Customs and Practice for Documentary Credits (1993 Revision) International Chamber of Commerce Brochure No. 500" or by subsequent Uniform Customs and Practice fixed by subsequent Congresses of the International Chamber of Commerce. 1416 L0350 12/26/02 SURETY SPREADSHEET Project Name: Date Compiled: Letter of Credit/Bond No.: Issued By: Expiration Date: Check No.: Item TUSCANY LAKES #3 3/27/2006 572 Washington Federal Savings 2/2/2007 Unfinished Partial Surety Party Responsible For Sign -Off Date Signed Off/ Person Comments Sanitary Sewer -internal $47,888.50 $0.00 $47,888.50 Public Works 1/12/07 RF Sanitary Sewer -offsite $0.00 $0.00 Water -internal $20,104.50 $0.00 $20,104.50 Public Works 1/12/07 RF Water- Offsite $0.00 $0.00 Public Works Street Lights $4,940.00 $494.00 $5,434.00 Building 5/25/06 TF Landscaping $52,913.30 $5,291.33 $58,204.63 PZ 9/5/06 JL Pathways $0.00 $0.00 PZ Fencing $49,856.00 $4,985.60 $54,841.60 PZ 6/1/06 KV Tiling $0.00 $0.00 PZ Pressurized Irrigation $13,865.75 $0.00 $13,865.75 NMID 7/6/06 NMID Gravity Irrigation $0.00 $0.00 NMID Other: Waterfalls $74,550.00 $7,455.00 $82,005.00 PW 7/12/07 RF $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 TOTAL: $264,118.05 1/12/07 READY TO RELEASE IN FULL -KG $18,225.93 $282,343.98 Page 1 of 1 Will Berg From: Karie Glenn Sent: Wednesday, February 07, 2007 3:17 PM To: Cole and Ustick Office Cc: Will Berg Subject: Tuscany Lakes #3.xls Attachments: Tuscany Lakes #3.xls Here are my notes in regards to the release of this LOC. **Will could you please verify that you have sent the original back to the bank.** Thanks, Karie A Glenn Dept Specialist Supervisor City of Meridian, Public Works 660 E Watertower Ste 200 Meridian ID 83642 (208) 898-5500 or fax (208) 898-9551 glennk@meridiancity.org 2/7/2007 Page 1 of 1 Will Berg From: Justin Lucas Sent: Tuesday, September 05, 2006 4:02 PM To: Karie Glenn; Mindi Smith; Reta Cunningham; Will Berg Cc: kristy@westparkco.com Subject: Tuscany Lakes Sub #2 and #3 Tuscany Lakes Sub. #2 and #3 passed final Planning inspection for landscaping and fencing. All landscaping and fencing sureties for these subdivisions can be released. Thanks. Justin S. Lucas Associate City Planner Meridian Planning Department 660 E. Watertower Lane 208.884.5533 208.888.6854 (fax) 9/5/2006 RECEIVED MAR 2 7 2006 City of Meridian cityClerk office 1 1 0 To: Will Berg From: Lenard A Grady, P.E. CC: File, Karie, P & Z Staff Date: 3/27/06 Re: Tuscany Lakes #3 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. 572 (Washington Federal Savings — dated 2/2/06) for $282,343.98. This represents surety for items, and in amounts, listed on the attached spreadsheet. Please call Ben Thomas @ Briggs Engineering @ 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 .. Lenard A Gradv, P.E. City Engineer Meridian Public Works Department 660 E. Watertower Lane, Suite 200 Meridian, Idaho 83642 (208)898-5500 Fax: (208) 898-9551 0 Page 1 gradylLc7rnerdiancity.org W-6. IRREVOCABLE LETTER OF CREDIT NUMBER 000572 To:CITY OF MERIDIAN Dear Sirs: We hereby establish our Irrevocable Standby Letter of Credit in your favor for the account of TUSCANY DEVELOPMENT INC. up to the aggregate amount of $282,343.98 available by your drafts drawn at sight on us presented at WASHINGTON FEDERAL SAVINGS, 3197 N COLE ROAD, BOISE, IDAHO 83704 PH. #208-378-7382 Drafts must be accompanied by Beneficiary's signed statement that TUSCANY DEVELOPMENT INC. has failed to perform or is in default of COMPLETING SEWER, WATER, GRAVITY IRRIGATION, PRESSURIZED IRRIGATION, STREET LIGHTS, WATERFALLS, LANDSCAPING AND FENCING IN TUSCANY LAKES. NO Drafts drawn under this credit must bear the following clause: Drawn under Washington Federal Savings Irrevocable Standby Letter of Credit Number 0 0 0 5 72 dated 02/02/06 The amount of each draft must be endorsed thereon. Partial drawings are permitted. We hereby engage with the drawer, endorsers and holders in due course of drafts drawn under and in compliance with the terms of this credit, that such drafts will be duly honored upon presentation to the drawee bank. This Letter of Credit expires 0 2/ 0 2/ 0 7 Very truly, TAMMYSORENSEN MANAGER \� Provisions applicable to the credit: Unless otherwise expressly stated, this credit is subject to the "Uniform Customs and Practice for Documentary Credits (1993 Revision) International Chamber of Commerce Brochure No. 500" or by subsequent Uniform Customs and Practice fixed by subsequent Congresses of the International Chamber of Commerce. 1416 L0350 12/26/02 3. LL 0 Q