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Home My WebLink AboutWalmart Fuel Store # 3093March 25, 2019 U.S. Bank National Association Standby Letters of Credit: BC-MN-H2OG 800 Nicollet Mall Minneapolis, Minnesota 55402 Mayor Tammy de Weerd City Council Members: Luke Cavener Joe Borton Ty Palmer Genesis Milam Treg Bernt Anne Little Roberts Re: Release of Letter of Credit No. SLCMMSP08960 for James A. Kissler LLC, (Silverstone Roadway Extension) After a review of the above referenced project by the Planning Department and the Public Works Department, it has been determined to release the Letter of Credit for the amount of $37,717.26. Please use this letter as authorization for U.S Bank National Association to release Letter of Credit No. SLCMMSP08960 If you have any questions, please contact me at (208) 888-4433. Thank you for your cooperation. Sincerely, r 1 i C.Jay-/Croles City Clerk Enclosure City Clerk's Office ■ 33 E. Broadway Avenue, Meridian, ID 83642 Phone 208-888-4433 ■ Fax 208-888-4218 ■ www.meridiancity.org U.S. Bank National Association Standby Letters of Credit: BC-MN-H20G 800 Nicollet Mall Minneapolis, Minnesota 55402 JUNE 27, 2018 LETTER OF CREDIT NUMBER: SLCMMSP08960 AMENDMENT NUMBER: 1 APPLICANT: JAMES A. KISSLER LLC 1591 E. SENDERO LN. BOISE, ID 83712 BENEFICIARY: CITY OF MERIDIAN 33 E. BROADWAY AVE., SUITE 102 MERIDIAN, ID 83642 ATTN: STACY HERSH SWIFT: USBKUS44 TELEX: Phone: 612-303-7395 612-303-7374 Fax : 612-303-5226 THE ABOVE MENTIONED CREDIT IS AMENDED AS FOLLOWS: 1. PRESENT AVAILABLE BALANCE DECREASED BY USD 37,717.26 TO A NEW TOTAL OF USD 10,343.30. 2. DRAW STATEMENT AMENDED TO READ: "THE AMOUNT OF DRAFT DRAWN REPRESENTS FUNDS DUE TO THE CITY OF MERIDIAN DUE TO THE FAILURE OF JAMES A. KISSLER LLC TO CORRECT ANY DEFECTIVE MATERIALS OR WORKMANSHIP RELATIVE TO THE OFFSITE LANDSCAPING FOR OXYGEN SUBDIVISION NO. 1." THIS AMENDMENT IS SUBJECT TO BENEFICIARY APPROVAL/DISAPPROVAL AND MUST BE ACCEPTED`OR REFUSED BY MAKING SUCH NOTATION ON THE LINES PROVIDED BELOW AND RETURNING SAME TO US VIA SCAN OR FACSIMILE. SCAN AND SEND BY EMAIL TO: MINNEAPOLIS.STANDBY@USBANK.COM OR FAX TO US AT 612-303-5226. IMMEDIATE REPLY REQUESTED. PLEASE CHECK ONE OF THE BOXES BELOW AND FILL IN SIGNATURE BLOCK. APPROVE/ACCEPT SUBJECT AMENDMENT ❑ DISAPPROVE/REFUSE SUBJECT AMENDMENT � t r BENEFICIARY NAME I A HORI IGNATURE NAME: .� TITLE:LAt s ; J {'fie THIS AMENDMENT IS TO BE CUNSIDERED AS PART OF THE ABOVE CREDIT AND MUST BE ATTACHED THERETO. ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED. U.S. BANK NATIONAL ASSOCIATION AUTHORI ED SIGNATURE usbank.com U.S. Bank National Association Standby Letters of Credit: BC-MN-H20G 800 Nicollet Mall Minneapolis, Minnesota 55402 March 30, 2018 City of Meridian 33 E. Broadway Ave. Suite 102 Meridian, ID 83642 Attn: Stacy Hersh SWIFT: USBKUS44 TELEX: Phone: 612-303-7321 612-303-7395 Fax: 612-303-5226 We hereby establish our Irrevocable Standby Letter of Credit No. SLCMMSP08960 for the account of James A. Kissler LLC, 1591 E. Sendero Ln., Boise, ID 83712 in the initial amount of USD Forty -Eight Thousand Sixty Dollars and 56/100 US Dollars ($48,060.56) and authorize you to draw at sight on U.S. Bank National Association. Drafts on us at sight must be accompanied by the original of this Letter of Credit (and any amendments thereto) and a beneficiary's signed statement (purportedly signed by an authorized signer of beneficiary) as follows: "The amount of draft drawn represents funds due to the City of Meridian due to the failure of James A. Kissler LLC to correct any defective materials or workmanship relative to offsite water line and landscaping for Oxygen Subdivision Phase 1." The amounts of any drafts drawn under this Letter of Credit are to be endorsed on the reverse side hereof. Such drafts must bear the clause "Drawn under U.S. Bank National Association credit number SLCMMSP08960 dated March 30, 2018." We hereby agree with drawers that drafts and documents as specified above will be duly honored upon presentation to U.S. Bank National Association, 800 Nicollet Mall, attn: Standby Letters of Credit BC-MN-H20G, Minneapolis Minnesota 55402, if presented on or before March 30, 2019. We shall not be liable for any delay, non -return of documents, non-payment, or other action or inaction compelled by a judicial order or by any law or regulation applicable to us. This credit is subject to the International Standby Practices (ISP98), International Chamber of Commerce Publication Number 590, or any subsequent revision thereto. U.S. Bank National Association )Vt k�14� Authorized Signature 61 usbank.com