Messina Meadows No. 2 Return Letter of Credit IDIAN~~
~~~~
March 19, 2009
Attn: Tammy Sorensen
Washington Federal Savings
3197 N. Cole Road
Boise, ID 83704
MayorTammy de Weerd
City Council Members:
Keith Bird
Joe Borton
Charles Rountree
David Zaremba
Re: Release of Letter of Credit No. 000787 (Messina Meadows # 2) for Tuscany
Development, Inc.
After a site inspection and 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 in the original amount of $43,594.91 to you for the completion of
landscaping and fencing. Please use this letter as authorization for Washington Federal
Savings to release the Letter of Credit No. 000787.
If you have any questions, please contact me at (208) 888-4433. Thank you for your
cooperation.
Sincerely,
~~iwt_
JayceOOe L. Holman
City Clerk
Enclosure c~M~~-ErEj~
~'~~ ' ~' 1009
~~. ~f ~
IRREVOCABLE LETTER OF CREDIT NUMBER 000787
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
$43 , 594.91 available by your drafts drawn at sight on us presented at WASHINGTON
FEDERALSAVINGS,3197 N COLE ROAD, BOISE, IDAHO
Drafts must be accompanied by Beneficiazy'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, LANDSCAPING AND FENCING IN MESSINA MEADOWS #2.
Drafts drawn under this credit must bear the following clause: Drawn under Washington Federal
Savings Irrevocable Standby Letter of Credit Number 0 0 0 7 8 7 dated 0 8/ 2 6/ 0 8
The amount of each draft must be endorsed thereon.
Paztial 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 03/09/09
Very truly,
TAMMY SORENSEN
AVP/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.
83704 PH
#208-378-7382
late L0350 12/26/02
URETV SPREADSHEET
Project Name: Messina Meadows #2
Date Compiled: 9/8/2008
Leiter of Credit/BOnd No.: 787
Issued By: Washington Federal Savings
Expiration Date: 319/2009
Check No
Party Responsible Date Signetl Off/
'Sanitary Sewer-internal
(Sanitary Sewer-offsite
Water-internal
Water- Offsite
_.____-$0.00
$0.00
_. _
$0.00
$0.00_._._
$0 00
$22,164.00 $2,216.40 ~~
$000
.... Public Works '
$0 00 _
__
$0.00 _
Public Works
$O.OOi
$0.00
_.__ Public Works
Building
__
_
_
$24,38040
..__- PZ
___ 3/14/09 SW
$0.00
~~
~ PZ ~~
$19,214.51 PZ ~ ~~ ~~~.9/28/08 SW
~
$0.00
_- $0.00 PZ
NMID ~ ~~
~
$O.OO ___
NMID _
_
-__ F -_
50.00! W
$o.oo
----
$o.oo
_ - -
-
$o.oo
Street Lights
_._ __
Landscaping
__ _•- __
'~.. Pathways $0.00
~, Fencing ~ $17,467.74 $1,746.77
Tiling $0.00
Pressudzed Irrigation $0.00
l~. GravM Irrigation $0.00
Other_--
' $0.00
__ __ ---
$0.00
___ _ _ _
$o.oo
_ __ !,
$o.oo
TOTAL: $39,631.74 $3,963.17
Authorizetl reduction
19214.51 as of 9/28!08 kg
BALANCE TO REMAIN: $24,380.40
emo
To: Jaycee Holman
Fwm: Karie Glenn
CC: File, Karie, P 8r Z Staff
Date: 9/4/08
Re: Messina Meadows #2
Clint Dolsby has signed the plat for the above project and I 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. 000787 (Washington Federal Savings -dated
8/26/08) for $43,594.91. This represents surety for items, and in amounts, listed on the
attached spreadsheet.
Please call Trevor w/ Briggs @ 344-9700 when the plat is ready to be picked up. Please call
me if you have any questions.
Thank you.
**Final Plat was approved by City Council on: originally 8/` /O6
Extension approved = TE07-015
From the desk of..
Karie A Glenn
Dept Specialist Supervisor
Meridian Public Works Deparnnen[
660 E. Watertower Lane, Suite 200
Meadian, IdaLn 83642
(208)898-5500
r Fax: (208)898-9551
• Page 1 Alenuk(uhneridianciN.orc
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IDate: 9!4/08
To: Jaycee Holman
Cc: File
Internal Office Memo
Ftrwrc Scott Steckline
RE: Messit~ MeatloMrs No 2
Jaycee,
I have reviewed the above mentioned final plat submittal and find that they have complied
with all the conditions of approval. ff I can be of further assistance in this matter, please don't
hesitate to contact me.
Fran the desk of....
Scott St
Development Services Coordinator
Meridian Pudic Wales Department
660 E. Watertaner Lane, Suite 200
Meridian, Idaho 83642
(208) 89&5500
Fax (208) 898-5501
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