Letter of Credit-H13-p10
EIZIDIAN-
October 11, 2013
Wells Fargo Bank
International Standby Letter of Credit Processing
MAC A0283-123
794 Davis Street, 2nd Floor
San Leandro, CA 94577-6922
Mayor Tammy de Weerd
City Council Members:
Keith Bird
Brad Hoaglun
Charles Rountree
David Zaremba
Re: Release of Letter of Credit No. IS0049066U (Spurwing Grove N
Brighton Development, Inc. o. 5) for Applicant
After a site inspection and review of the above referenced project b
Department and the Public Works Department, It has been determined y the Planning
Letter of Credit in the amount of $162,258.85. Please use this letter ato release the
a
Wells Fargo Bank to cancel the Letter of Credit No. IS0049066U. s authorization for
If you have any . questions, please contact me at (208) 888-4433
cooperation. Thank you for your
Sincerely,
JayceeUL, Holman
City Clerk
Enclosure
WIE I D I A N ---
Community Development
Department
Community Development Dept.
Meridian City Hall, Suite 102
33 E. Broadway Avenue
Meridian, Idaho 83642
MEMORANDUM
To: Jaycee Holman, City Clerk
From: Bruce Freckleton, Development Services Manager
Re: 5
Spurwing Grove #Subdivision — Release of Performance Surety
Jaycee,
October 8, 2013
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,
Bruck
�� E ItN--
October 8, 2013
Mr. David Turnbull, President
Brighton Development, Inc. Mr. Richard Brown
12601 W. Explorer Drive, Suite 200 Brown Construction Co.
PO Box 495
Boise, Idaho 83713
Nampa, Idaho 83653
RE: Spurwing Grove No. 5 — Final Acceptance
Dear Mr. Turnbull:
Mayor Tammy de Weerd
City Council Members:
Keith Bird
Brad Hoaglun
Charles Rountree
David Zaremba
Installation of this project's sanitary sewer and/or domestic water systems has been
satisfactorily completed in accordance with the approved
These systems have
the required testing in accordance with City of Meridian S alndard Specifications and Drawings
and therefore are hereby accepted by the City for ownership and normal maintenance. g
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 P
Works Department' Standard Specifications and Drawings, the installation and materials ublic
sewer and domestic water systems are to be warranted against defect by the owner for aof ete
nod
Of two -years from the date of this iAttor
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- � vvClI L,
City Engineer
cc. City Clerk
PW - Water Division
PW - Wastewater Division
PW - Construction Division
File
DEQ
C�WIE IDIAN.
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IIaAHO
Community DevebPment
Department
Community Development Dept.
Meridian City Hall, Suite 102
33 E. Broadway Avenue
Meridian, Idaho 83642
MEMORANDUM
July 5, 2013
To: Jaycee Holman
From: Bruce Freckleton, Development Services Manager
Re: Irrevocable Letter of Credit #IS0049066U — Spurwing Grove #5 Subdivision
Jaycee,
Attached is the original Irrevocable Letter of Credit #IS0049066U, issued by Wells Fargo Bank on
behalf of Brighton Development Inc., as a guarantee of completion of development
improvements in the Spurwing Grove #5 Subdivision. I have also attached a Surety Breakdown
for this development.
Please let me know if you should have any questions,
Thank you,
WF1,T,S,
FARGO',
Wells Fargo Bank, N.A.
U. S. Trade Services
Standby Letters of Credit
MAC A0195-212
One Front Street, zest Flour
San Francisco, California 94111
Phone: 1(800) 798 2815 Option 1
E-Mail: sftrade@welisfaryo com
Irrevocable Standby Letter Of Credit
BENEFICIARY
CITY OF MERIDIAN PUBLIC WORKS
MERIDIAN CITY HALL
ATTN: BRUCE FRECKLETON
33 E. BROADWAY AVENUE, N0. 102
MERIDIAN, IDAHO 83642
LETTER OF CREDIT ISSUE AMOUNT
LADIES AND GENTLEMEN:
Number: 150049066U
Issue Date : July 3, 2013
APPLICANT
BRIGHTON DEVELOPMENT, INC. AN IDAHO
CORPORATION
ATTN: BLAKE ALDER
12601 WEST EXPLORER DRIVE, SUITE 200
BOISE, IDAHO 83713
USD 162,258.85 EXPIRY DATE
DULY 3, 2014
AT THE REQUEST AND FOR THE ACCOUNT OF THE ABOVE REFERENCED APPLICANT, WE HEREBY
AMOUNT OF ONE HUNDRED SIXTY TWO THOUSAND TWO HUNDRED FIFTY EIGHT AND 85/100
ISSUE OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. IS00490660 IN YOUR FAVOR IN THE
(US$162,258.85) AVAILABLE WITH US AT OUR ABOVE OFFICE BY PAYMENT AGAINST
PRESENTATION OF THE FOLLOWING DOCUMENTS:
1. A DRAFT DRAWN ON US AT SIGHT AND MARKED "DRAWN UNDER WELLS FARGO BANK, N.A.
IRREVOCABLE STANDBY LETTER OF CREDIT N0. IS0049066U."
2. THE ORIGINAL OF THIS IRREVOCABLE STANDBY LETTER OF CREDIT AND ANY AMENDMENTS
THERETO,
3. BENEFICIARY'S SIGNED AND DATED STATEMENT WORDED AS FOLLOWS:
"THE UNDERSIGNED, A DULY AUTHORIZED REPRESENTATIVE OF THE CITY OF MERIDIAN
WORKS, HEREBY CERTIFIES THAT THE AMOUNT OF THE ACCOMPANYING DRAFT DRAWN
THE WELLS FARGO BANK, N.A., IRREVOCABLE STANDBY LETTER OF CREDIT NO. I PUBLIC
REPRESENTS FUNDS DUE TO THE CITY OF MERIDIAN PUBLIC WORKS DUE TO F UNDER
BRIGHTON DEVELOPMENT INC., TO COMPLETE THE SEWER, STREET LIGHT LANDSCAPING
PRESSURIZED IRRIGATION AND/OR OTHER WORK AS IS INCIDENTAL AND FAILURE T R
ACCORDANCE WITH THE DRAWINGS AND SPECIFICATIONS AS SUB S' LANDSCAPING AND
THE CITY OF MERIDIAN PUBLIC WORKS, IN THE SPURWING GROVE N RELATED THERETO, IN
SUBMITTED TO AND APPROVED BY
O.5 SUBDIVISION."
__... Togeth
Each page of this document is an integral pan Page 1 Of 3 er we ll g0 far
Of this Irrevocable Standb
y Letter of Credit Number 15004
9066U "
INNS 1 FTTFR n[ r-nrn�r _
�nwl 1 CAHRES A I OUR ABOVE OFFICE ON JULY 03, 2014. IT IS A CONDITION OF
THIS LETTER OF CREDIT THAT SUCH EXPIRATION DATE SHALL BE DEEMED AUTOMATICALLY
EXTENDED, WITHOUT WRITTEN AMENDMENT, FOR ONE YEAR PERIODS TO JULY 3 IN EACH
SUCCEEDING CALENDAR YEAR UNLESS AT LEAST SIXTY (60) DAYS PRIOR TO SUCH EXPIRATION
DATE WE SEND WRITTEN NOTICE TO YOU AT YOUR ADDRESS ABOVE BY OVERNIGHT COURIER OR
REGISTERED MAIL THAT WE ELECT NOT TO EXTEND THE EXPIRATION DATE OF THIS LETTER OF
CREDIT BEYOND THE DATE SPECIFIED IN SUCH NOTICE,
UPON OUR SENDING YOU SUCH NOTICE OF THE NON -EXTENSION OF THE EXPIRATION DATE OF
THIS LETTER OF CREDIT, YOU MAY DRAW UNDER THIS LETTER OF CREDIT, ON OR BEFORE THE
EXPIRATION DATE SPECIFIED IN SUCH NOTICE, BY PRESENTATION OF THE FOLLOWING
DOCUMENTS TO US AT OUR ABOVE ADDRESS:
1. A DRAFT DRAWN ON US AT SIGHT MARKED "DRAWN UNDER WELLS FARGO BANK, N.A.
STANDBY LETTER OF CREDIT NO. IS0049066U."
2. THE ORIGINAL OF THIS STANDBY LETTER OF CREDIT AND ANY AMENDMENTS THERETO.
3. YOUR SIGNED AND DATED STATEMENT WORDED AS ABOVE.
IF ANY INSTRUCTIONS ACCOMPANYING A DRAWING UNDER THIS IRREVOCABLE STANDBY LETTER
OF CREDIT REQUEST THAT PAYMENT IS TO BE MADE BY TRANSFER TO AN ACCOUNT WITH US OR
AT ANOTHER BANK, WE AND/OR SUCH OTHER BANK MAY RELY ON AN ACCOUNT NUMBER
SPECIFIED IN SUCH INSTRUCTIONS AS THAT OF THE BENEFICIARY'S WITHOUT ANY FURTHER
VALIDATION.
NOTWITHSTANDING ANY OTHER PROVISION OF THIS LETTER OF CREDIT, ANY DRAWING MAY
ALSO BE PRESENTED TO OUR OFFICE LOCATED AT WELLS FARGO BANK, IDAHO, L/C OPERATIONS,
BOISE SERVICE CENTER BUILDING, 3033 ELDER STREET, 1 ST FLOOR, BOISE, ID 83705, ATTN:
LEATHA THAYER, IF THE DOCUMENTS ARE PRESENTED TO THE IDAHO ADDRESS THE RECIPIENT
OF SAID DOCUMENTS IS REQUIRED TO FAX THE DRAWING DOCUMENTS TO 336 735 0952.
UNDERTAKING WITH RESPECT TO THE SUBJECT MATTER HEREOF, AND SUCH UNDERTTHIS IRREVOCABLE STANDBY LETTER OF CREDIT SETS FORTH IN FULL THE TERMS OF OUR
SHALL NOT IN ANY WAY BE MODIFIED, AMENDED OR AMPLIFIED BY REFERENCE TO ANY NOTE,
DOCUMENT, INSTRUMENT OR AGREEMENT REFERRED TO HEREIN OR IN WHICH THIS AKING
IRREVOCABLE STANDBY LETTER OF CREDIT RELATES AND ANY SUCH REFERENCE SHALL NOT BE
DEEMED TO BE INCORPORATED HEREIN BY REFERENCE TO ANY NOTE, DOCUMENT, INSTRUMENT
OR AGREEMENT,
THIS IRREVOCABLE STANDBY LETTER OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND
PRACTICE FOR DOCUMENTARY CREDITS (2007 REVISION), INTERNATIONAL CHAMBER OF
COMMERCE PUBLICATION NO.600, AND ENGAGES US IN ACCORDANCE WITH THE TERMS
THEREOF.
WE HEREBY ENGAGE WITH YOU THAT EACH DRAFT DRAWN AND PRESENTED TO US IN
COMPLIANCE WITH THE TERMS AND PROVISIONS OF THIS IRREVOCABLE STANDBY LETTE
R OF
Together we ll
Each Page of this multi a Page 2 of 3 go far
P ge document is an integral Pan
Of this Irrevocable Standby Letter of Credit Number IS0049066U
nvP`IVKtU UY PAYMENT TO YOU OF THE AMOUNT REQUESTED.
Very Truly Yours,
WELLS FARGO BANK, N. .
r MICHELE LEE
By:. ASSISTANT VICE PRESIDENT
Authorized Signature
The original of the Letter of Credit contains an embossed seal over the Authorized Signature.
Please direct any written correspondence or inquiries regarding this Letter of Credit, always quoting our
reference number, to Wells Fargo Bank, National Association, Attn: U.S. Standby Trade Services
at either
One Front Street
or 401 Linden Street
MAC A0195-212,
San Francisco, CA 94111 MAC D4004 017,
__.____. Winston Salem, NC 27101
Phone inquiries regarding this credit should be directed to our Standby Customer Connection Professionals
1-800-798-2815 Option 1
L (Hours of Operation: 8:00 a.m. PT to 5:00 p.m. PT) 1 800 776 3862 Option 2
(Hours of Operation: 8:00 a.m. EST to 5:30 p.m. EST}
_—
Each page ge of this Page 3 of 3 To ether we'll go far
P multipage document is an integral part s
of this Irrevocable Standby Letter of Credit Number 150049066U
,: s . {' € ,
C�41E IDIAN,.
Community Development
Department
Community Development Dept.
Meridian City Hall, Suite 102
33 E. Broadway Avenue
Meridian, Idaho 83642
MEMORANDUM
July 5, 2013
To: Jaycee Holman
From: Bruce Freckleton, Development Services Manager
Re: Irrevocable Letter of Credit #IS0049066U — Spurwing Grove #5 Subdivision
Jaycee,
Attached is the original Irrevocable Letter of Credit #IS0049066U, issued by Wells Fargo Bank on
behalf of Brighton Development Inc., as a guarantee of completion of development
improvements in the Spurwing Grove #5 Subdivision. I have also attached a Surety Breakdown
for this development.
Please let me know if you should have any questions,
Thank you,