Sicily Subdivision Return Letter of CreditMayorTammy de Weerd
City Council Members:
Keith Bird
Brad Hoaglun
Charles Rountree
David Zaremba
December 28, 2009
Attn: Brenda Sanford
D.L. Evans Bank
P.O. Box 1188
Burley, ID 83318
Re: Release of Letter of Credit No. 1201 (Sicily Subdivision) for Interwest Development
Corporation
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 Letter
of Credit No. 1201 in the original amount of $129,626.20 to you for the completion of
landscaping, fencing and pressurized irrigation. Please use this letter as authorization
for D.L. Evans Bank to release Letter of Credit No. 1201.
If you have any questions, please contact me at (208) 888-4433. Thank you for your
cooperation.
Sincerely,
O.,~c.~
JayceeVVL. Holman
City Clerk
Enclosure
IRREVOCABLE DOCUMENTARY STANDBY LETTER OF CREDIT
NUMBER: LOC #1201
DATE: February 22, 2007
APPLICANT BENEFICIARY
Interwest Development Corporation Meridian City Building Department
3350 Americana Terrace, Suite 200 660 E. Watertower, Suite 150
Boise, ID 83706 Boise, ID 83706
RE: Sicily Subdivision
DATE AND PLACE OF EXPIRE: February 21, 2008
At the counters of: D.L. Evans Bank, Burley Office, P.O. Box 1188
Burley, ID 83318 or at the counters of D.L. Evans Bank, 3845 West
State St., Boise, ID 83713
AMOUNT: $129,626.20
Credit available with us by payment of draft(s) drawn at sight on
D. L. Evans Bank, Burley, Idaho bearing this letter of credit
number, and accompanied by the following documents detailed herein;
1. The original Letter of Credit.
2. Beneficiary's signed statement stating quote Interwest
Development Corporation has failed to honor their
contractual agreement with the Meridian City Building
Department unquote.
3. Partial drawings are permitted. In the event of a partial
drawing, the original Letter of Credit must be returned for
endorsement of the amount paid.
This credit is subject to the Uniform Customs and Practice for
Documentary Credits (1993 revision), International Chamber of
Commerce Document Brochure No. 500.
We engage with drawers, endorsers, and bona fide holders that drafts
drawn in conformance with the terms of this credit will be honored
on presentation to the above drawee.
Sincerely,
D.L. Evans Bank
Brenda Sanford
Chief Financial Officer
BS:lc
Corporate Office 397 kYorth Overland Ave. PO. Box 1188 Burley, ID 83318
208-678-8615 Fax 208-678-9093 Express Banking 1-888-873-9777
REQUEST FOR AMENDMENT TO LETTER OF CREDIT
Date: August 13, 2009
RE: Request for Amendment to Letter of Credit # 1201.
Applicant: Interwest Development Corporation
Beneficiary: Meridian City Building Department
Dated: February 22, 2007
Gentlemen:
Please amend the above referenced Letter of Credit to read as
follows:
Date of expiration is amended to December 15, 2009.
Sincerely,
D.L. Evans Bank
Brenda Sanford
VP/Chief Financial Officer
BS:lc
Corporate Office 397 lYorth Overland Ave. P.O. Box 1188 Burley, ID 83318
208-678-8615 F'ax 208-678-9093 Express Banking 1-888-873-9777
REQUEST FOR AMENDMENT TO LETTER OF CREDIT
Date: August 20, 2008
RE: Request for Amendment to Letter of Credit # 1201.
Applicant: Ynterwest Development Corporation
Beneficiary: Meridian City Building Department
Dated: February 22, 2007
Gentlemen:
Please amend the above referenced Letter of Credit to read as
follows:
Date of expiration is amended to August 18, 2009.
Sincerely,
D.L. E ns B
H. ott Horsley
Executive Vice President & Chief Credit Officer
SH:st
Corporate Office 397 North Overland Ave. P.O. Box 1188 Burley, ID 83318
208-678-8615 Fax 208-678-9093 Express Banking 1-888-873-9777
REQUEST FOR AMENDMENT TO LETTER OF CREDIT
Date: February 20, 2008
RE: Request for Amendment to Letter of Credit # 1201.
Applicant: Interwest Development Corporation
Beneficiary: Meridian City Building Department
Dated: February 22, 2007
Gentlemen:
Please amend the above referenced Letter of Credit to read as
follows:
Date of expiration is amended to August 21, 2008.
Sincerely,
D . L . Evans Bank ~~\\~
~A.~j
Brenda Sanford
VP/Chief Financial Officer
BS:st
Corporate Office 397 North Overland Ave. P.O. Box 1188 Burley, ID 83318
208-678-8615 Fax 208-678-9093 Express Banking 1-888-873-9777
.~
SURETY SPREADSHEET
Project Name: SICILY
Date Compiled: 3/5/2007
Letter of Credit/Bond No.: 1201
Issued By. DL Evans Bank
Exp(ration Date: 298 8/2#/~9ti 8~#8 12/15/2009
Check No.:
Party Responsible Date Signed Off/
Item Unfinished Partial Sure For Si n-0ff 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 x.00 Building
Landscaping $28,050.00 $2,805.00 $30,855.00 PZ
Pathways $0.00 $0.00 PZ
Fencing $37,992.00 $3,799.20 $41,791.20 PZ
Tiling $0.00 $0.00 PZ
Pressurized Irrigation- $51,800 00 $5,180 00 $56,980 00 NMID 5116/08 NMID
um st and bld
Gravity Irrigation $0.00 $0.00 NMID
Other:
$0.00 $0.00 PW
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
TOTAL: $117,842.00 $11,784.20 $129,626.20
Authorized reduction 56980 as of 5/16/08 kg
Ready to Release in Full Per Bill Parsons and Scott Steckline 12/14/2009
BALANCE TO REMAIN: $32,485.20
~`
Sicily Subdivision
12/11 /2009
3:08 PM
The Planning Department has completed the final inspection for the Sicily Subdivision. All
landscape improvements are complete per the approved plan and occupancy may be released
for the subdivision. Please release the remaining portion of the surety.
Thanks,
Bill Parsons
Associate City Planner
Meridian Planning Department
33 E. Broadway Avenue
Meridian, Idaho 83642
PHONE: (208) 884-5533
FAX: (208) 888-6854
bparsons@meridiancity.org