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Home My WebLink AboutBonding, Signing, Recording Final PlatCITY OFC�W6_rl�rcn1 IDAHO}j Fc e�TER '4 TREASURE VNAY 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 March 20, 2007 Ms. Gloria Warrick U. S. Bank Letter of Credit Department 1420 5th Avenue, 9th Floor Seattle, WA 98101 Re: Return Letter of Credit for Quenzer Commons Subdivision # 10 for Brighton investments, LLC. After a site inspection and review of Quenzer Commons Subdivision # 10 by the Planning Department and the Public Works Department, it has been determined to release the Letter of Credit of $102,371.23 to you for the completion of sewer, water, street lights, landscaping, fencing, pressurized irrigation and gravity irrigation. Please use this letter as authorization for U. S, Bank to release the Irrevocable Letter of Credit No. SLCSSEA02579. 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 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 JULY 27, 2006 BENEFICIARY: APPLICANT: CITY OF MERIDIAN BRIGHTON INVESTMENTS, LLC FOR THE 660 E. WATERTOWER, SUITE 200 ACCOUNT OF BRIGHTON DEVELOPMENT INC. MERIDIAN, IDAHO 83642 12601 WEST EXPLORER DRIVE, SUITE 200 BOISE, ID 83713 LETTER OF CREDIT NUMBER: SLCSSEA02579 EXPIRY DATE: JULY 27, 2007 AT: OUR COUNTERS PRESENTLY LOCATED AT 1420 FIFTH AVENUE, 9TH FLOOR, INTERNATIONAL DEPARTMENT, SEATTLE, WA, 98101 ON OR BEFORE 5:00 P.M. AMOUNT $102,371.23 NOT EXCEEDING ONE HUNDRED TWO THOUSAND THREE HUNDRED SEVENTY ONE AND 23/100 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 OF THE BENEFICARY STATING THAT THE AMOUNT OF DRAFT DRAWN REPRESENTS FUNDS DUE THE CITY OF MERIDIAN DUE TO THE FAILURE OF BRIGHTON DEVELOPMENT INC. TO COMPLETE THE SEWER, WATER, PRESSURIZED IRRIGATION, GRAVITY IRRIGATION, STREET LIGHTS, LANDSCAPING AND FENCING IN QUENZER COMMONS SUBDIVISION #10. THE ORIGINAL OF THIS LETTER OF CREDIT, INCLUDING ANY AMENDMENTS, MUST BE SUBMITTED TO THE BANK FOR OUR ENDORSEMENT OF ANY PAYMENTS EFFECTD BY US AND/OR FOR CANCELLATION. PARTIAL DRAWINGS ALLOWED DRAFTS DRAWN UNDER THIS CREDIT MUST BEAR THE CLAUSE: "DRAWN UNDER U.S. BANK NATIONAL ASSOCIATION, IRREVOCABLE STANDBY LETTER OF CREDIT NO. SLCSSEA02579". THIS CREDIT IS SUBJECT TO "THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS" (1993 REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 500". 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,. THIS PAGE 1 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02579 embank® Five Stu Semce Guaranteed U.S. BANK NATIONAL ASSOCIATION INTERNATIONAL BANKING DIVISION 3 AUTHORIZED SIGNATURE THIS PAGE 2 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02579 embank® Five Star Service 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 JULY 27, 2006 CITY OF MERIDIAN 660 E. WATERTOWER, SUITE 200 MERIDIAN, IDAHO 83642 ATTN: BRAD WATSON PLEASE FIND ATTACHED OUR ORIGINAL STANDBY LETTER OF CREDIT NUMBER SLCSSEA02579 IN FAVOR OF YOURSELVES, FOR THE ACCOUNT OF: BRIGHTON INVESTMENT, LLC FOR THE ACCOUNT OF BRIGHTON DEVELOPMENT, INC. 12601 WEST 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 GLORIA WARRICK AT 206-344-2328. U.S. BANK NATIONAL ASSOCIATION INTER ATIONAL DEPARTMENT Gloria Warrick Letter of Credit Officer SPREADSHEET ame: 7Datepiled: Credit/Bond No.: FF Issuey: Expiration Date: Check No.: Item Quenzer Commons #10 8/28/2006 SLCSEA02579 US Bank 7/27/2007 Unfinished Partial Surety Party Responsible For Sign -Off Date Signed Off/ Person Comments Sanitary Sewer -internal $17,156.88 $0.00 $17,156.88 Public Works 11/15/06 TJ Sanitary Sewer -offsite $0.00 $0.00 Water -internal $9,679.00 $0.00 $9,679.00 Pub�Wos11/15!06 TJ Water- Offsite $0.00 $0.00 Public Works Street Lights $1,193.00 $719.30 $1,312.30 Building 10/11/06 JW Landscaping $10,484.00 $1,048.40 $11,532.40 PZ 3/15/07 JL Pathways $0.00 $0.00 PZ Fencing $14,654.00 $1,465.40 $16,119.40 PZ 10/10/06 JL Tiling $0.00 $0.00 PZ Pressurized Irrigation $17,800.00 $1,780.00 $19,580.00 PW 8/22/06 TJ Gravity Irrigation $24,537.50 $2,453.75 $26,991.25 PW 8/22/06 TJ Other: $0.00 $0.00 PW $0.00 $0.00 - ________00,___ $0 —- $0.00 $0.00 $0.00 TOTAL: $95,504.38 $6,866.85 Authorized reduction BALANCE TO REMAIN: 3/15/07 READY TO RELEASE IN FULL KG $102,371.23 $102,371.23 Page 1 of 1 Will Berg From: Karie Glenn Sent: Thursday, March 15, 2007 2:22 PM To: Will Berg Subject: Quenzer Commons #10.LOC RELEASE Attachments: Quenzer Commons #10.As attached detail sheet ready to be released in full 3/16/2007 AUG 2 4 2006 City of Meridian City Clerk Office Memo To: Will Berg From: Lenard A Grady, P.E. CC: File, Karie, P & Z Staff Date: 8/24/06 Re: Quenzer Commons #10 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. SLCSSEA02579 (US Bank — dated 7/27/06) for $102,371.23. This represents surety for items, and in amounts, listed on the attached spreadsheet. Please call Kevin Maus w/ Engineering Northwest @ 376-5000 when the plat is ready to be picked up. Please call me if you have any questions. Thank you. 0 Page 1 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 gradylA nerdiancity.org [bank® Five Star Service Guaranteed f* U.S. BANK NATIONAL ASSOCIATION INTERNATIONAL DEPARTMENT 1420 FIFTH AVENUE, 9TH FLOOR SEATTLE, WA 98101 PHONE: 206-344-2398 FAX: 206-344-5365 JULY 27, 2006 CITY OF MERIDIAN 660 E. WATERTOWER, SUITE 200 MERIDIAN, IDAHO 83642 ATTN: BRAD WATSON PLEASE FIND ATTACHED OUR ORIGINAL STANDBY LETTER OF CREDIT NUMBER SLCSSEA02579 IN FAVOR OF YOURSELVES, FOR THE ACCOUNT OF: BRIGHTON INVESTMENT, LLC FOR THE ACCOUNT OF BRIGHTON DEVELOPMENT, INC. 12601 WEST 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 GLORIA WARRICK AT 206-344-2328. U.S. BANK NATIONAL ASSOCIATION INTER ATIONAL DEPARTMENT Gloria Warrick Letter of Credit Officer ® bank. 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: 206-344-5078 IRREVOCABLE STANDBY LETTER OF CREDIT JULY 27, 2006 BENEFICIARY: APPLICANT: CITY OF MERIDIAN BRIGHTON INVESTMENTS, LLC FOR THE 660 E. WATERTOWER, SUITE 200 ACCOUNT OF BRIGHTON DEVELOPMENT INC. MERIDIAN, IDAHO 83642 12601 WEST EXPLORER DRIVE, SUITE 200 BOISE, ID 83713 LETTER OF CREDIT NUMBER: SLCSSEA02579 EXPIRY DATE: JULY 27, 2007 AT: OUR COUNTERS PRESENTLY LOCATED AT 1420 FIFTH AVENUE, 9TH FLOOR, INTERNATIONAL DEPARTMENT, SEATTLE, WA, 98101 ON OR BEFORE 5:00 P.M. AMOUNT $102,371.23 NOT EXCEEDING ONE HUNDRED TWO THOUSAND THREE HUNDRED SEVENTY ONE AND 23/100 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 BENEFICARY STATING THAT THE AMOUNT OF DRAFT DRAWN REPRESENTS FUNDS DUE THE CITY OF MERIDIAN DUE TO THE FAILURE OF BRIGHTON DEVELOPMENT INC. TO COMPLETE THE SEWER, WATER, PRESSURIZED IRRIGATION, GRAVITY IRRIGATION, STREET LIGHTS, LANDSCAPING AND FENCING IN QUENZER COMMONS SUBDIVISION #10. 2. THE ORIGINAL OF THIS LETTER OF CREDIT, INCLUDING ANY AMENDMENTS, MUST BE SUBMITTED TO THE BANK FOR OUR ENDORSEMENT OF ANY PAYMENTS EFFECTD BY US AND/OR FOR CANCELLATION. PARTIAL DRAWINGS ALLOWED DRAFTS DRAWN UNDER THIS CREDIT MUST BEAR THE CLAUSE: "DRAWN UNDER U.S. BANK NATIONAL ASSOCIATION, IRREVOCABLE STANDBY LETTER OF CREDIT NO. SLCSSEA02579". THIS CREDIT IS SUBJECT TO "THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS" (1993 REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 500". 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,. THIS PAGE 1 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02579 bank. Five Star Service Guaranteed U.S. BANK NATIONAL ASSOCIATION INTERNATIONAL BANKING DIVISION ~ AUTHORIZED SIGNATURE THIS PAGE 2 FORMS AN INTEGRAL PART OF LETTER OF CREDIT NO. SLCSSEA02579 L N F LL Q Q g