Letter of CreditE ID1AN,.-...-
May 9, 2016
Home Federal Bank
3405 E. Overland Road, Ste 260
Meridian, ID 83642
Mayor Tammy de Weerd
City Council Members:
Keith Bird Joe Borton
Luke Cavener Genesis Milam
Ty Palmer Anne Little Roberts
Re: Release of Letter of Credit No. 1001002028001 for Mission Coast Properties ID,
Inc. (Reflection Ridge No. 1 & 2)
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 in the
amount of $120,287.00. Please use this letter as authorization for Home Federal Bank
to release Letter of Credit No. 1001002028001.
If you have any questions, please contact me at (208) 888-4433. Thank you for your
cooperation.
Sincerely,
Jacy Jones
City Clerk
Enclosure
HomeFederal.
City of Meridian
33 E. Broadway Avenue, Suite 102
Meridian, ID 83642
Irrevocable Letter of Credit Number 1001002028001
Issue Date: May 5, 2014
Ladies and Gentlemen:
We hereby establish our Irrevocable Standby Letter of Credit in your favor for the account
Mission Coast Properties ID, Inc., 13402 13A Avenue, Surrey, BC V4A 1C3 up to the aggregate
amount of One Hundred Twenty Thousand, Two Hundred Eighty Seven and 00/100's United
States Dollars (US$120,287.00) available by your draft(s) drawn on sight on us and presented to
Home Federal Bank on or before May 5, 2016, covering Reflection Ridge Subdivision No. 1 & 2,
Meridian, Idaho and accompanied by the following:
1. A signed statement from the City of Meridian reading exactly as follows:
"I the undersigned duly authorized representative of the City of Meridian,
hereby certify that the draft drawn under this Letter of Credit represents the
amount of money required to complete the subdivision improvements and/or
other work as is required for the Meridian City Warranty Surety."
2. Original of this Letter of Credit
All drafts presented under the credit must contain the clause "Drawn under the Home
Federal Bank Letter of Credit 1001002028001".
Any and all banking charges, other than those of the issuing bank, are for the account of
the beneficiary.
We hereby engage with the drawers and bona fide holders of drafts drawn under and in
compliance with the terms of this Letter of Credit that the drafts will be duly honored
upon presentation and delivery of documents, as specified to Home Federal Bank, 3405
E. Overland Road, Suite 260, Meridian, ID 83642, on or before May 5, 2016.
All drawings under this credit will be governed by the Uniform Customs & Practice for
Documentary Credits (2007 Revision) International Chamber of Commerce Publication
No. 600.
Sincerely,
Vice President
Mayor Tammy de Weerd
City Council Members:
Keith Bird Joe Borton
Luke Cavener Genesis Milam
Ty Palmer Anne Little Roberts
May 5, 2016
Mr. Lorne Duthie Superior Construction & Excavation, Inc.
Mission Coast Properties ID, Inc. P.O. Box 455
134020-13A Ave. Meridian, Idaho 83680
Surrey BC V4A 1 C3
RE Reflection Ridge Subdivisions #1 and #2 — Discharge from warranty responsibility
Dear Mr. Duthie:
This letter is the final documentation from the on -site warranty inspection and the review of the
deliverables provided to the City for the above noted project.
The Public Works Department confirms that a warranty inspection has been performed and no
apparent non -compliant items currently exist. Therefore we are discharging you from the two-
year warranty responsibility which commenced on the date of this projects formal acceptance
letter. We hereby also consent to the release of the Warranty Surety being held by the City
during the term of the warranty period.
Sincerely,
"�C' %tK
Warren Stewart, P.E.
City Engineer
cc. City Clerk
PW - Water Division
PW - Wastewater Division
PW - Construction Division
PW - Engineering
Community Development Dept.
File
Public Works Department s 33 E Broadway Ave, Suite 200, Meridian, ID 83642
Phone 208-898-5500 . Fax 208-898-9551 e www.meridiancity.org
E IDIAN.11-�
Community Development
Department
Community Development Dept.
Meridian City Hall, Suite 102
33 E. Broadway Avenue
Meridian, Idaho 83642
MEMORANDUM
May 5, 2016
To: Jacy Jones, City Clerk
From: Bruce Freckleton, Development Services Manager
Re: Reflection Ridge Subdivisions — Release of Warranty Surety
(Surety-War-2014-0024)
Jacy,
Attached is a copy of the Public Works Departments Compliance Letter for the above named
subdivision, which officially signifies that the two-year warranty inspection has been completed
satisfactorily.
At this time I am requesting that you initiate the process of refunding the subject $120,287.00
Warranty Surety (copy attached).
Please let me know if you should have any questions or concerns,
Thank you,
Bruce
cc Karen Wooddell, Accountant
E IDIAN
Community Development
Department
Community Development Dept.
Meridian City Hall, Suite 102
33 E. Broadway Avenue
Meridian, Idaho 83642
MEMORANDUM
May 14, 2014
To: Jaycee Holman, City Clerk
From: Bruce Freckleton, Development Services Manager
Re: Reflection Ridge Subdivisions #1 and #2 - Warranty Surety
Jaycee,
Attached is LOC #1001002028001 from Mission Coast Properties ID, Inc., Inc. that is drawn on
Home Federal Bank in the amount of $120,287.00 to satisfy the Warranty Surety requirements.
These funds will be held for a period of two -years from the date of the attached formal
acceptance letter.
Please let me know if you should have any questions or concerns,
Thank you,
Bruce
'---- e�
cc: Todd Lavoie, Accounting Manager
E IDIAN-
May 13, 2014
Mayor Tammy de Weerd
City Council Members:
Keith Bird Joe Borton
Luke Cavener Genesis Milam
Charlie Rountree David Zaremba
Mr. Lorne Duthie Superior Construction & Excavation, Inc.
Mission Coast Properties ID, Inc. PO Box 455
134020-13A Avenue Meridian, Idaho 83680
Surrey BC V4A 1 C3
RE Reflection Ridge Subdivisions #1 and #2 — Final Acceptance
Dear Mr. Duthie:
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 City of
Meridian's Supplemental Specifications and Drawings to the Idaho Standards for Public Works
Construction, 2013 Edition, 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.
Sincerely,
*arrenewart, P.E.
City Engineer
cc. City Clerk
PW - Water Division
PW - Wastewater Division
PW - Construction Division
File
DEQ
Public Works Department . 33 E Broadway Ave, Suite 200, Meridian, ID 83642
Phone 208-898-5500 . Fax 208-898-9551 . www.meridiancity.org
HomeFederal.
City of Meridian
33 E. Broadway Avenue, Suite 102
Meridian, ID 83642
Irrevocable Letter of Credit Number 1001002028001
Issue Date: May 5, 2014
Ladies and Gentlemen:
We hereby establish our Irrevocable Standby Letter of Credit in your favor for the account
Mission Coast Properties ID, Inc., 13402 13A Avenue, Surrey, BC V4A 1C3 up to the aggregate
amount of One Hundred Twenty Thousand, Two Hundred Eighty Seven and 00/100's United
States Dollars (US$120,287.00) available by your draft(s) drawn on sight on us and presented to
Home Federal Bank on or before May 5, 2016, covering Reflection Ridge Subdivision No. 1 & 2,
Meridian, Idaho and accompanied by the following:
1. A signed statement from the City of Meridian reading exactly as follows:
"I the undersigned duly authorized representative of the City of Meridian,
hereby certify that the draft drawn under this Letter of Credit represents the
amount of money required to complete the subdivision improvements and/or
other work as is required for the Meridian City Warranty Surety."
2. Original of this Letter of Credit
All drafts presented under the credit must contain the clause "Drawn under the Home
Federal Bank Letter of Credit 1001002028001".
Any and all banking charges, other than those of the issuing bank, are for the account of
the beneficiary.
We hereby engage with the drawers and bona fide holders of drafts drawn under and in
compliance with the terms of this Letter of Credit that the drafts will be duly honored
upon presentation and delivery of documents, as specified to Home Federal Bank, 3405
E. Overland Road, Suite 260, Meridian, ID 83642, on or before May 5, 2016.
All drawings under this credit will be governed by the Uniform Customs & Practice for
Documentary Credits (2007 Revision) International Chamber of Commerce Publication
No. 600.
Sincerely,
tt Drown
enior Vice President