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Home My WebLink AboutBonding, Signing, Recording Final PlatA CITY Or Nm IDAHO SFR j�e URFVI SINCE 1903 MAYOR I 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 August 10, 2006 Mr. Gary Quast Idaho Banking Company 2965 Tarpon Drive Suite 950 Meridian, ID 83642 947-5588 Re: Return Letter of Credit for Sparrowhawk Subdivision # 2 for Sparrowhawk„ LLC. After a site inspection and review of Sparrowhawk Subdivision # 2 by the Planning Department and the Public Works Department, it has been determined to release the Letter of Credit of $66,960.30 to you for the completion of landscaping and picnic area. Please use this letter as authorization for Idaho Banking Company to release the Irrevocable Letter of Credit No, 000187. 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 111 o BANKING t, t j . ISSUE DATE: February 9, 2006 IRREVOCABLE STANDBY LETTER OF CREDIT NO. 000187 APPLICANT: BENEFICIARY: Sparrowhawk, LLC City of Meridian 2127 Overland Road, Suite 1 660 East Watertower, Suite 200 Boise, ID 83705 Meridian, ID 83642 Eagle AMOUNT: EXPIRATION DATE: $66,960.30 (Sixty Six Thousand Nine S.IdahoEagle Rd. August 8, 2006 Hundred Sixty and 30/100 Dollars) Eagle, Eagle, Idaho 83616 208-939-7040 We hereby establish our Irrevocable Standby Letter of Credit No. 000187 in your favor and authorize you to draw on us a sum not exceeding Sixty Six Thousand Nine Hundred Sixty and 30/100 U.S. Dollars Only ($66,960.30) available by your draft at Fairview sight. Drafts must be drawn and presented at our office no later than August 8, 2006. 6010 Fairview Ave. Boise, Idaho 83704 All drafts must be marked "Drawn under Idaho Banking Company Letter of Credit No. 208-472-4700 000187 dated February 9, 2006" and all negotiations under this credit must be accompanied by the original of this credit and a Beneficiary's statement, signed by a person purportedly authorized by the Beneficiary, stating that: Meridian 1875 S. Eagle Rd. "P.I./sprinkler system, plant materials, seed, bark and other landscaping Meridian, Idaho 83642 items including picnic tables, bike racks, trash receptacles and benches have not yet been completed in the Sparrowhawk 208-955-0686 Subdivision." This certified statement must specify the conditions not complied with and that these conditions remain in non-compliance. ParkCenter 949 E. Parkcenter Blvd. Partial drawings allowed. 3oise, Idaho 83706 ?08-395-1505 All banking charges other than those of the issuing bank are for the account of the beneficiary. We hereby agree to honor each draft drawn under and in compliance with the terms Mortgage of this credit, if duly presented (together with the documents as specified) at our ?965 E. Tarpon Dr., Ste. 150 office on or before the expiry date of this credit. Oeridian, Idaho 83642 108-378-1013 Except so far as otherwise expressly stated, this Letter of Credit is subject to the "Uniform Customs and Practices for Documentary Credits (1993 revision), International Chamber of Commerce Publication No. 500". ;onstruction Sincerely, '965 E. Tarpon Dr., Ste. 150 deridian, Idaho 83642 08-947-5588 / 4GQuast Executive Vice President & Senior Credit Officer SURETY SPREADSHEET Project Name: Date Compiled: Letter of Credit/Bond No.: Issued By: Expiration Date: Check No.: Item SPARROWHAWK#2 2/27/2006 187 Idaho Banking Co 8/8/2006 Unfinished Partial Surety Party Responsible For Sign -Off Date Signed Off/ Person Comments Sanitary Sewer -internal $0.00 $0.00 Public Works Sanitary Sewer -offsite $0.00 $0.00 Water -internal $0.00 $0.00 Public Works Water- Offsite $0.00 $0.00 Public Works Street Lights $0.00 $0.00 Building Landscaping $56,433.00 $5,643.30 $62,076.30 PZ 8/7/06 CH Pathways $0.00 $0.00 PZ Fencing $0.00 $0.00 PZ Tiling $0.00 $0.00 PZ Pressurized Irrigation $0.00 $0.00 NMID Gravity Irrigation $0.00 $0.00 NMID Other: Picnic Area $4,400.00 $440.00 $4,884.00 PZ withdrew requirement at this time CH $0.00 $0.00 $0.00 $0.00 $0.00 1$0.001 1 TOTAL: $60,833.00 $6,083.30 8/7/06 READY TO RELEASE IN FULL KG $66,960.30 Page 1 of 1 Will Berg From: Karie Glenn Sent: Monday, August 07, 2006 3:28 PM To: Will Berg Subject: Sparrowhawk #2. LOC RELEASE Attachments: Sparrowhawk #2.xls attached detail sheet - ready to be released in full. 8/7/2006 Page 1 of 1 Will Berg From: C. Caleb Hood Sent: Monday, August 07, 2006 3:15 PM To: Karie Glenn; Will Berg; Reta Cunningham Subject: Sparrowhawk #2 Surety The required landscaping and fencing has been installed. I know the $66,960.30 surety expires this week. Planning is okay with not holding any additional surety for this project. Thanks. C. Caleb Hood Current Planning Manager Meridian Planning Department 660 E. Watertower Lane Meridian, ID 83642 208.884.5533 208.888.6854 (fax) 8/7/2006 Memo To: Will Berg From: Lenard A Grady, P.E. CC: File, Karie, P & Z Staff Date: 2/23/06 Re: SPARROWHAWK #2 FEB 2 3 206 City of Meridian Laity 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. 000187 (Idaho Banking Co— dated 2/9/06) for $66,960.30. This represents surety for items, and in amounts, listed on the attached spreadsheet. Please call Julie Parker w/ Civil Dynamics @ 466-0823 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. Wateriower Lane, Suite 200 Meridian, Idaho 83642 (208)898-5500 Fax: (208) 898-9551 • Page 1 gradvlAmerdiancitv.rn-g "Daxa BANKING ,rk..tj wLj. Eagle 402 S.Eagle Rd. Eagle, Idaho 83616 208-939-7040 Fairview 6010 Fairview Ave. Boise, Idaho 83704 208-472-4700 Meridian 1875 S. Eagle Rd. Meridian, Idaho 83642 208-955-0686 ParkCenter 449 E. Parkcenter Blvd. Boise, Idaho 83706 208-395-1505 Mortgage 2965 E. Tarpon Dr., Ste. 150 Meridian, Idaho 83642 208-378-1013 Construction 2965 E. Tarpon Dr., Ste. 150 Meridian, Idaho 83642 208-947-5588 ISSUE DATE: February 9, 2006 IRREVOCABLE STANDBY LETTER OF CREDIT NO. 000187 APPLICANT: BENEFICIARY: Sparrowhawk, LLC City of Meridian 2127 Overland Road, Suite 1 660 East Watertower, Suite 200 Boise, ID 83705 Meridian, ID 83642 AMOUNT: EXPIRATION DATE: $66,960.30 (Sixty Six Thousand Nine August 8, 2006 Hundred Sixty and 30/100 Dollars) We hereby establish our Irrevocable Standby Letter of Credit No. 000187 in your favor and authorize you to draw on us a sum not exceeding Sixty Six Thousand Nine Hundred Sixty and 30/100 U.S. Dollars Only ($66,960.30) available by your draft at sight. Drafts must be drawn and presented at our office no later than August 8, 2006. All drafts must be marked "Drawn under Idaho Banking Company Letter of Credit No. 000187 dated February 9, 2006" and all negotiations under this credit must be accompanied by the original of this credit and a Beneficiary's statement, signed by a person purportedly authorized by the Beneficiary, stating that: "P.I./sprinkler system, plant materials, seed, bark and other landscaping items including picnic tables, bike racks, trash receptacles and benches have not yet been completed in the Sparrowhawk Subdivision." This certified statement must specify the conditions not complied with and that these conditions remain in non-compliance. Partial drawings allowed All banking charges other than those of the issuing bank are for the account of the beneficiary. We hereby agree to honor each draft drawn under and in compliance with the terms of this credit, if duly presented (together with the documents as specified) at our office on or before the expiry date of this credit. Except so far as otherwise expressly stated, this Letter of Credit is subject to the "Uniform Customs and Practices for Documentary Credits (1993 revision), International Chamber of Commerce Publication No. 500". Sincerely, 4GQuast Executive Vice President & Senior Credit Officer LL Q