Letter of CreditE'Kn
IDIAN,,--,�
October 23, 2013
U.S. Bank National Association
Standby Letter of Credit: BC-MN-H20G
800 Nicollet Mall
Minneapolis, Minnesota 55402
Mayor Tammy de Weerd
City Council Members:
Keith Bird
Brad Hoaglun
Charles Rountree
David Zarernba
Re: Release of Letter of Credit No. SLCSSEA04088 (Paramount Sub. No. 22) for
Applicant Brighton Investments, LLC
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 amount of $645,248.97. Please use this letter as authorization for
U.S. Bank to cancel the Letter of Credit No. SLCSSEA04088.
If you have any questions, please contact me at (208) 888-4433. Thank you for your
cooperation.
Sincerely,
Jaycee L. Holman
City Clerk
Enclosure
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bank.
U.S. Bank National Association EC EIVE SWIFT: USBKUS44
Standby Letters of Credit: BC-MN-H2OG TELEX:
800 Nicollet Mall Phone: 866-359-2503 x5854
Minneapolis, Minnesota 55402 612-303-7395
B Fax : 612-303-5226
OCTOBER 7, 2013
LETTER OF CREDIT NUMBER: SLCSSEA04088
AMENDMENT NUMBER: 1
APPLICANT: BRIGHTON INVESTMENTS LLC FOR THE
ACCT OF BRIGHTON DEVELOPMENT INC.
12601 W. EXPLORER DRIVE, SUITE 200
BOISE, IDAHO 83713
BENEFICIARY: CITY OF MERIDIAN
PLANNING DIVISION
33 E BROADWAY AVENUE
MERIDIAN, ID 83642
ATTN: BILL FRECKLETON
Due to the consolidation of U.S. Bank National Association's Seattle Standby Letter of Credit processing site,
the above -referenced letter of credit is amended as follows:
1. The name and address of the issuing bank is amended as follows:
U.S. Bank National Association
Standby Letters of Credit: BC-MN-H2OG
800 Nicollet Mall
Minneapolis, Minnesota 55402
2. Drafts and communication with respect to this letter of credit must now be presented to:
U.S. Bank National Association
Standby Letters of Credit: BC-MN-H2OG
800 Nicollet Mall
Minneapolis, Minnesota 55402
3. Please present all facsimile communication to our new fax number: (612) 303-5226
THIS AMENDMENT IS TO BE CONSIDERED AS PART OF THE ABOVE CREDIT AND MUST BE ATTACHED
THERETO.
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.
U.S. BANK NATIONAL ASSOCIATION
AU HORIZED SIGNATURE
I:\IBD\STANDBY\HMENDMENT\4088ZJS 1. DOC
usbank.com
E IDIAN.-- -
Community Development
Department
Community Development Dept.
Meridian City Hall, Suite 102
33 E. Broadway Avenue
Meridian, Idaho 83642
MEMORANDUM
October 21, 2013
To: Jaycee Holman, City Clerk
From: Bruce Freckleton, Development Services Manager
Re: Paramount Subdivision No. 22 — Release of Performance Surety
Jaycee,
Attached is a copy of the City Engineer's final acceptance letter that officially signifies that the
construction phase of the above named project is complete. At this time, I am requesting that
you release the Performance Surety (copy attached) that was posted to guarantee the
completion of the development features.
Please let me know if you should have any questions or concerns,
Thank you,
N*111loo,
0,
C�WE IDIAN ---
Community Development
Department
Community Development Dept.
Meridian City Hall, Suite 102
33 E. Broadway Avenue
Meridian, Idaho 83642
MEMORANDUM
May 6, 2013
To: Jaycee Holman
From: Bruce Freckleton
Re: Irrevocable Letter of Credit #SLCSSEA04088 Paramount Subdivision #22
Jaycee,
Attached is the original Irrevocable Letter of Credit #SLCSSEA04088, issued by US Bank on
behalf of Brighton Development Inc., as a guarantee of completion of development
improvements in the Paramount Subdivision #22.
this development.
I have also attached a Surety Breakdown for
Please let me know if you should have any questions,
Thanks,
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Community Development
Department
Community Development Dept.
Meridian City Hall, Suite 102
33 E. Broadway Avenue
Meridian, Idaho 83642
MEMORANDUM
October 9, 2013
To: Jaycee, Holman, City Clerk
From: Bruce Freckleton, Development Services Manager
Re: Paramount Subdivision #22 — Performance Surety
Jaycee,
Attached is Amendment #1 to Irrevocable Letter of Credit No. SLCSSEA04088 for Paramount
Subdivision No. 22. It looks like the only change is the name and mailing address of the issuing
bank.
Please let me know if you should have any questions or concerns.
Thank you,
Mayor Tammy de Weerd
City Council Members:
Keith Bird
Brad Hoaglun
Charles Rountree
David Zaremba
October 21, 2013
Mr. David Turnbull Mr. Richard Brown
Brighton Development Inc.
12601 W. Explorer Drive, Suite 200 Brown Construction, Inc.
P.O. Box 495
Boise, Idaho 83713
Nampa, Idaho 83653-0495
RE: Paramount Subdivision No. 22 — Final Acceptance
Dear Mr. Turnbull:
Installation of this project's sanitary sewer and/or domestic water systems has been
satisfactorily completed in accordance with the approved plans. These systems have passed
the required testing in accordance with City of Meridian Standard Specifications and Drawings,
and therefore are hereby accepted by the City for ownership and normal maintenance.
Record drawings submitted to us for this project are also accepted and are being forwarded to
the Idaho Department of Environmental Quality. The engineer of record is responsible for
certification of the record drawings as to horizontal and vertical location of all public water and
sewer facilities installed.
In accordance with the City of Meridian's Unified Development Code §11-5C-3, and the Public
Works Department' Standard Specifications and Drawings, the installation and materials of the
sewer and domestic water systems are to be warranted against defect by the owner for a period
of two -years from the date of this letter.
Sincer ly, )
Warren Stewart, P.E.
City Engineer
cc. City Clerk
PW - Water Division
PW - Wastewater Division
PW - Construction Division
File
DEQ
CVIE IDIAN--
Community Development
Department
Community Development Dept.
Meridian City Hall, Suite 102
33 E. Broadway Avenue
Meridian, Idaho 83642
MEMORANDUM
May 6, 2013
To: Jaycee Holman
From: Bruce Freckleton
Re: Irrevocable Letter of Credit #SLCSSEA04088 Paramount Subdivision #22
Jaycee,
Attached is the original Irrevocable Letter of Credit #SLCSSEA04088, issued by US Bank on
behalf of Brighton Development Inc., as a guarantee of completion of development
improvements in the Paramount Subdivision #22.
this development.
i have also attached a Surety Breakdown for
Please let me know if you should have any questions,
Thanks,
Me
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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
APRIL 15, 2013
---------------------------------
------------------------------ -------- ------------------------------------------------- APPLICANT:--
BENEFICIARY:
CITY OF MERIDIAN BRIGHTON INVESTMENTS, LLC FOR THE
33 E. BROADWAY AVE. ACCOUNT OF BRIGHTON DEVELOPMENT INC.
MERIDIAN, ID 83642 12601 W. EXPLORER DRIVE, SUITE 200
ATTN: BRUCE FRECKLETON BOISE, ID 83713
----------------- ------ -- --
LETTER OF CREDIT NUMBER: SLCSSEA04088 -
EXPIRY DATE: APRIL 12, 2014
------------------------ -------------------------------------------
AT: OUR COUNTERS PRESENTLY LOCATED AT 1420 FIFTH AVENUE, 9TH FLOOR,
"INTERNATIONAL DEPARTMENT, SEATTLE, WA, 98101 ON OR BEFORE 5:00 P.M.
----------------------------------
---- -----------------------------------
AMOUNT $645,248.97
NOT EXCEEDING SIX HUNDRED FORTY FIVE THOUSAND TWO HUNDRED FORTY EIGHT
AND 97 100 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:
L A STATEMENT PURPORTEDLY SIGNED BY AN AUTHORIZED INDIVIDUAL OF THE CITY
OF MERIDIAN 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, STREET LIGHTS, LANDSCAPING, FENC
PRESSURIZED IRRIGATION AND GRAVITY IRRIGATION IN PARAMOUNT SING,
UBDIVISION
#22.
2. THE ORIGINAL OF THIS LETTER OF CREDIT, INCLUDING ANY AMENDMENTS, MUST BE
SUBMITTED TO THE BANK FOR OUR ENDORSEMENT OF ANY PAYMENTS EFFECTED 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,
SLCSSEA04088".
THIS CREDIT IS SUBJECT TO "THE UNIFORM CUSTOMS AND PRACTICE FOR
DOCUMENTARY CREDITS" (2007 REVISION) INTERNATIONAL CHAMBER OF COMMERCE
PUBLICATION NO. 600."
(Mbank
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 5zH AVENUE, 9T" FLOOR,
SEATTLE, WA 98101.
PURSUANT TO U.S. LAW, WE ARE REQUIRED TO OBTAIN, VERIFY, AND RECORD
INFORMATION THAT IDENTIFIES PARTIES TO THE TRANSACTION AND WE ARE
ARE PROHIBITED FROM ISSUING, TRANSFERRING, ACCEPTING, OR EFFECTING PAYMENT
TO ANY PARTY OR ENTITY IDENTIFIED BY THE U.S. DEPT. OF TREASURY INCLUDING
ANY OFFICE AND BUREAU THEREOF OR SUBJECT TO THE DENIAL OF EXPORT PRIVILEGES
BY THE U.S. DEPT. OF COMMERCE.
U.S. BANK NATIONAL ASSOCIATION
INTERNATIONAL BANKING DIVISION
AUT t IZED SIGNATURE ..