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Krispy Kreme~. MAYOR Robert D. Corrie ,. ~.. ": ~ ~`` z ~ ~ CITY OF if ~~~1 ~'~"~,. I --+~~. erl~lcn Il IDAHO LEGAL DEPARTMENT (208) 288-2499 •Fax 288-2501 CITY COUNCIL MEMBERS Tammy deWeerd William L. M. Nary Cherie McCandless Keith Bird Date: March 28, 2003 CERTIFICATE OF ZONING COMPLIANCE* PARKS & RECREATION (208 888-3579 •Fax 898-5501 PUBLIC WORKS (208) 898-5500 •Fax 887-1297 BUILDING DEPARTMENT (208)887-2211• Fax 887-1297 PLANNING AND ZONING (208) 884-5533 •Fax 888-6854 Owner: Gemstone Inc Time Wright President Applicant: Clark Development Address: Southwest corner of Fairview Avenue and Eagle Road ~S~ ~ ' ~~ Proposed Use• A 4 635 square foot "Krispy Kreme" donut restaurant/bakery Zoning: I-L (with an approved Development Agreement) COMMENTS: Signa~e: No new signs are approved by the issuance of this certificate. All new signs require a sign permit from the City of Mendian prior to installation. Temporary signs are prohibited, and shall be removed within three days notice. Scope of Development: This Certificate of Zoning Compliance shall be valid for only the development/construction of a 4,635 square foot restaurant/bakery building. Any re-development of the property shall require further zoning approval. Landsca~ma and Fencing: All landscaping and irrigation shall be installed per the approved landscape plans (stamped 03-28-03) prior to the issuance of an Occupancy Permit. No field changes shall be permitted unless previously approved in writing by the City. Lighting: All new lighting, whether attached to the building or placed within the parking area, shall not cause glare for or otherwise impact the traveling public or neighboring developments, as determined by the City. Parkins;: Parking for the bakery is approved as depicted on the approved site plan (stamped 03-28- 03). Sidewalks: All sidewalks constructed as part of the development are required to be 5' wide per MCC 2-5-2K. ACHD and ITD Acceptance: Applicant shall be responsible for meeting the requirements of ACHD and ITD as they pertain to this type of development. All impact fees, if any, shall be paid prior to the issuance of a building permit. If any changes must be made to the site plan to accommodate the ACHD and ITD requirements, a new site plan shall be submitted to the City of Meridian Planning and Zoning Staff for approval prior to the issuance of a building permit. 33 EAST IDAHO • MERIDIAN, IDAHO 83642 (208) 888-4433 •Fax (208) 887-4813 City Clerk Office Fax (208) 888-4218 Human Resources Fax (208) 884-8723 Plan Modifications: The Site Plan is not to be altered without prior written approval of the Planning & Zoning Department. No field changes to the site plan are permitted; prior written approval of all changes is required. Cites failure to specifically,identify re,.quirements in this Certificate of Zoning Compliance does not relieve owner of responsibility for compliance. The site plan stamped 03/28/03 are approved with the comments noted above. C avid McKinnon Planner II *Receipt of a Certificate of Zoning Compliance does not indicate compliance with requirements of other departments/agencies, including, but not limited to, Ada County Highway District, Central District Health Department, affected irrigation district(s), Meridian Sewer, Water, Building or Fire Departments, etc. This certificate shall expire one (1) year from the date of issuance if work has not begun. i 1 • ~ _ ~,- ARCHITECTS 1010 S.Allante Place, Suite 100 Boise, ID 83709 (208)336-8370 FAX 336-8380 To: MERIDIAN P/Z WE ARE SENDING YOU X Attached-Via: Pickup Shop drawings Prints Plans Copy of letter Change order These are transmitted as highlighted below: For approval For your use REMARKS: LETTER OF TRANSMITTAL Date: 3/28/03 Job No. 02065.12 Attention: DAVE Re: KRISPY KREME TVBC Delivery Mail Fed. Exp. _ The following: Samples Specifications As requested COPY TO: KK(CRAIG)CD(BILL) SI RECEIVED BY: DATE: For review and comment X File Documentl BRS Project No. 02065.12 CITY OF MERIDIAN Planning & Zoning Department 660 E. Watertower Ln., Ste. 202, Meridian, ID 83642 C _ p ~ 0/~ (208)884-5533 Phone / (208)888-6854 Fax CERTIFICATE OF ZONING COMPLIANCE (CZC) APPLICATION (Section 11-19-1, Zoning and Development Ordinance) PROJECT NAME: APPLICANT: ADDRESS: Clark Development 479 Main St. Boise, ID 83702 PHONE: 342-2526 FAX: 342-2527 E-MAII.: bill@clarkdevelo OWNER(S) OF RECORD: Gemtone ADDRESS: P. O. Box 2727 t.com PHONE: 342-2526 FAX: 342-2527 E-MAIL:bil,l@clarkdevelopment.com ARCHITECT (IF DIFFERENT THAN APPLICANT): RR S Ar c: h i _/ F3 i 1 1 y Ray S t_ r i t e ADDRESS: 1010 S. Allante Place, Suite 100, Boise, ID .83709 PHONE: 336-8370 FAX: 336-8380 E-MAIL bill @brsarchitects.com ADDRESS, GENERAL LOCATION OF SITE: SWC Eagle Road/Fairview Avenue DESCRIPTION OF USE: Doughnut Shop PRESENT ZONE CLASSIFICATION: I-L I, Bill Strite A ent; do hereby affirm that I will agree to pay any additional sewer, water or trash fees or es, if any, associated with the use that Uwe have applied for, whether the use be residential, commercial or in r e I have read the information contained herein and certify that the information is e (Applica s na ure) (Date) Krispy Kreme I~t~v. ~/?4I(t' Mar 28 03 12:25p the land group inc 2089394445 p.2 MAR-28-20D3 ©641 6RS ARCHITECTS P. 0~'iE13 IRRYGATIQN ~ERTOI2MANCE SPECIryCATIONS PER 1712DIN~lNCE 12-13-$ Nf)TF„' Su~nut i Cupres of this completed farm with uny application fw Certifirate ~l Zorrrrtg Gnntplivnce (CZC'). T'r!-ject Name: f~/7s /~/G~e SPecit;cs~tions: Available Gallons per viinute: ~JO Available Water Pressure: ~5 Point of Connection (describe and/or submit a site plan): • Primar Connection: Pr;SSd~/aed .,Zit,' at`icn S s~e~,. ~r- V$G 5iuf~c/iv~Sio • Sec~nd• Connection: Landscape Area: If eJte rrri~rlrion .ry,rtem is hookr_~d to City water ns a j~rimary or secondary water .SpkrCe, sirbmir the .cgttart>;/uorage of lan~rcape ureos ro be irri~ared: s, f. l3ackflow Prevention A bacl~low prevention device mast be ~titalled as required 5y City Ordinance 9-3. Cov- The irr`igatior. system must be designed to provide 100% coverage with head to head spacing or triangular spacing as appropri3ta Matched Precipitation Rater Sprinkler heads must have matched precipitation rates within each control valve circuit, Itti~ation Zones Sprinlclet' heads irrigating lawn or other high-watcr-demand areas must be circuited so that they are• on a separate zone or cones from those irrigating [tees, shrubs, or other reduced- water-demand areas. Oversgt~ay Sprinkler heads must be ad{tasted to reduce overspt'tty onto irztpcFViaEis su~'aees such as sidewalks, driveways, and parking areas. ~ Rr.,;. .lf~~/p; Additional Irrigation Notes: ' Irrigation Required All landscape areas regulated by the City Landscape Ordinance (12-13) shall be served with an automatic underground irrigation system. Additional requirements affecting pressurized irrigation systems can be found in City Ordinance 9-1-28. IrrigLation Water Source Use of non-potable irrigation water is required when determined to be available by the City Public Works Department as regulated by City Ordinance 9-1-28. If city potable water is used, a separate water meter is recommended so the owner can avoid paying sewer fees for irrigation water. Potable water shall not be used as a primary irrigation water source on non-residential lots with more than 1/z acre of landscaping. Year round water availability is also .required by connecting to city potable water or an on-site well as a secondary source. Certification: I Bi Ray Strite (agent) , do hereby affirm that any irrigation system installed for the o' ct mentioned above will be designed and installed in compliance with the specifications and 'sil/~~ P ~~~ 's ature to 7 ~~BV. .~~~f~ s1~3.Llrt~xv oNw hna~ Wn~~ww urn~winr~ y .m i~1 !' ,LN~Y~IdO'I~A~Q X~~~~ la ~~'~ ~~ ~ U s Q ® e. a ~ tia r~+u~ra aorcrr r1Hn~l a~Z]H3 6 ,a a W F Q CW7 ~` ~? z~ ~~ g~ ~~ i ~~,~~~ !~ ~~e '~~ ~ ~ ~~E~ ~~~~~~~~~~~~ ~~~~~~~~~~~E~f~~~#~ ~ . ,, •.••r•A.aefife••1 aao~ 3~~~ H ~*- ~~x 1 ry~ ¢' ~ h ro a + n 7 Y DO O O ~ Q ~ i~ ~ ~ w o € ~ ~~ ~ ~~ a~ ~ ~~ ® ~ ~~ N ~ ~~ ~a ~~ fl ~~ ~ ~ ~~ a ~~ ~.~~ i M,Sro,bL.W s S .b . ~a y U .ZL'6CB 3,Sy,B0.10 N ~ ` ° ~04 ~~ o w~ ~f .a H Q} ~~ W 0 ~~ - ~ • Hansen Construction-Inc. Krispy Kreme -Boise 6/2,8/038:23 AM Project Krispy Kreme Dou hnuts Hansen Construction Inc. Architect Daems & Myers Architects 915 South Frontage Road Owner Eagle-Fairview Investment Co, LLC -- ~ -- - Centerville, Utah 84014 Location Eagle Rd & Fairview, Meridian, Id ----- 296-5881 Bid Bond 0% -- - --- 296-2971 Fax r- _ _ Bid Date 5/Ob/03 -- 2:00 Revised 6-27-03 4,635;sf Spec Description Off-Site Cost / SF 1000 General Requirements _ 15,260 3.29 2200 Earthwork 36,627 7.90 2550 Site Utilities 57,405 12.39 2710 Asphalt Paving _ 36,859 7.95 2800 Landscaping _._-_._ ---- _-_-- -- -- - 43,955 9.48 ,3300 Concrete _. -- _- _ _ 14,253 3.08 16000 Electrical 18,000 3.88 Overhead /Profit 9.0% 20,012 4.32 Grandtotal 242,371 52.29 Page 1 • • Memorandum Meridian Police Department December 23, 2003 C~ oOp~7 T0: Mayor Corrie & the Meridian City Council FROM: Wm. (Bill) Musser, Chief of Police CC: Meridian Planning and Zoning Department -Attention Wendy Kirkpatrick RE: Krispy Kreme Traffic Plan and CUP Recommendations As required for their CUP the developers and owners for the Krispy Kreme outlet located at Fairview and Eagle roads in Meridian did provide a traffic plan for the grand opening. The process involved meetings with this department and engineers from the Idaho Department of Transportation. The initial grand opening week was planned for in terms of traffic and the potential impact of such along Fairview and Eagle roads with access for this department to submit a final recommendation to the Meridian City Council before the end of 90 days. I had reviewed the initial planning with Sgt. Colaianni, as he was our events planning liaison with Krispy Kreme. I had some initial concerns regarding the exit from the Krispy Kreme lot onto Eagle. I noted on 10/02/03 during a meeting at the Kri,spy Kreme building with the developers/owners, Idaho Transportation Department (ITD) representatives, and representatives of the City of Meridian that the exits onto Fairview and Eagle needed to be posted with a stop sign and signage noting No Left Turn. This condition was agreed on and the signs put in place before 10/04/03. Krispy Kreme also submitted a written traffic plan from Earth Tech titled Site Traff c Control Kris~Y Kreme. The plan consists of two (2) pages and a copy was provided to the City Of Meridian Planning and Zoning Department. I also received a copy of a letter dated 10/3/03 from John Golden, P.E., District Assistant Traffic Engineer (ITD) regarding acceptance of the Krispy Kreme traffic plan (a copy was also routed to Planning and Zoning). I had contact with Wendy Kirkpatrick, Planner for the City of Meridian Planning and Zoning Department on 10/6/03 regarding my acceptance of the traffic plan for the grand opening. I advised her I had accepted the traffic plan as submitted along with the signage that had been put in place, but I was reserving the right to comment on the overall plan for access and egress after a minimum of forty-five (45) days from the time of the grand opening. The initial opening week of the Krispy Kreme store has been completed without major traffic problems. The Krispy Kreme store maintained the traffic control devices that had been set up for the opening and traffic appeared to be flowing well. ITD later installed a raised divider between the south and north bound lanes on Eagle Rd. This divider had been discussed at the meeting on 10/02/03. The divider appears to be working well and has effectively cut off cross lane access from and to the Krispy Kreme store at the access adjacent to their location. This forces left turn traffic to access the site at Florence St. and keeps the turning traffic further away from the intersection of Eagle and Fairview. Page 1 of 2 • Memorandum Meridian Police Department December 23, 2003 C~ oOp}~ Krispy Kreme has done what they can to help ease their impact on this City's number one traffic collision area -the intersection of Eagle and Fairview. However, this development should serve as a lesson learned in regards to planning. The intersection and Eagle corridor do remain problematic, but the issues are multi-facetted given our growth and the current roadway design coupled with the large commercial access. I would strongly caution for significant use planning in conjunction with review of traffic impacts for any further developments in the proximity of the Eagle and Fairview intersection and along the Eagle corridor from Ustick Rd. south, and along the north side of Fairview Ave. from Hickory to Records. I would recommend the final approval of the Krispy Kreme CUP by the City Council and issuance of their permanent occupancy permit. Krispy Kreme has worked to minimize the potential for vehicle collisions related to traffic flow in and out of their business site. Respectfully, ;~ ~ r r Wm. (Bill) Musser Chief of Police Page 2 of 2 October 3, 2003 Billy Ray Strite BRS Architects 1010 S. Allante Pl. #100 Boise, ID 83709 Re: Permit Application No. 3-03-174; Krispy Kreme Meridian, Grand Opening Traffic Control Plan Dear Mr. Strite: The attached traffic control plan for the above location consisting of 2 sheets dated October 2, 2003 has been reviewed this department. This plan as presented is acceptable provided the following conditions are met: 1. Meridian Police Department will be involved in assistance of traffic control as discussed in an on-site meeting October 2, 2003. Meridian Police Department may make modifications to traffic control plan as needed in order to adapt to changing traffic conditions following approval of Police Chief Bill Musser. 2. An alternate plan shall be the restriction of all access to the right in/ right out approach and access shall be through E. Florence Street per approval from City of Meridian and ACHD. 3. Dust abatement shall be maintained at unpaved parking areas south of Krispy Kreme building. 4. This traffic control plan is valid until October 13, 2003 (7 days) upon which a new traffic control plan will be submitted if necessary. 5. Permanent left turning movement counter measures will be addressed within 45 calendar days from the date of this letter. Please note that the traffic control plans and installation are still the responsibility of the contractor. If you have any questions, please contact Permits Agent Matt Ward at 334-8341, or myself at 334-8924. Sincerely, JOHN D. GOLDEN, P.E. District Assistant Traffic Engineer Attachments 7-''ua-2~~2 1 1 : C17Ah1 FROM CLARE: DEVELOPI~1~ NT ~O~ .~4 20%7 F. ~ ~F~DAVtT ®F L~Ge~~ TP~'~~~ST sra-ra< of rnAHO __ GOUN77 OF ADA ) I Thvaoas T. Wrighe, Pr®raiAeat: k, 0. Box 27I7 ~2t'r~tv~rsQ, I~~ssrnc) .~---- --~_aasa:s; 90~fer 1D b~iag tlrsr Euiy .corn upon '"" -' oath, Qepusc znd a3y ~ctrl~) (ctatt y i . TA;1t Ism thr record own0r o! thr proy.ity dreeribcC on the attacLod. saG 1 Grant Cty p~rwissioa to 8111 Clark o! Clar_i<_ Ravel ~~nt, e79 t+lQin 8r . , Boise, xD ~"'"1O) (addrrs~) to submit tDc tteeemynnYj~ styplicotio~ psrtois+ing to t$sr proy~rty _ . ! a~rre to inaemniry, ac~4ond sad hold t9errj~,diar- and it's ee-ptoyvcs harmtest fruw say ctaiat of li4bility resalting fratn afry dispc+te n. ro t6u stotetatatia eanta~oed Attela or a1 [v tho oK•attcltip of t6c ptopt:rtr wh1eL .s the subject of the appliconon. Dated this eighth day of .~uly ,~W o002 _ ~~M7On/E'~ /.tfC_ . t _ s..~~-a-.-~-~ ~-~ ~ ~~ ~~- SU$SCKIBED AND SWO1lN to bdvre mtr the day attd yeZr fist tbove written I:xpircr 4 R~~ a+~ BcN i BY: Thomas T. Wr i5ht Co. 1-99 4~ 22PM 288343 '3-~ 208 330 8388; ,; ,~*L 7;1* i~; h 1'=. ntrfy~ ~rlln;. ~`~: ~,S,pu-,~,'{.~.''t ~i•~•'~'•••+ 1~`IT}il •.!',it,}~~'•.~' +•~1=~e,~: ~~ 'I. r:l•'1• '~•li ,,'!;i)•`' 'Y1~75 'll:. ((''~~k,pA'~, ~^yS'1~ Y, l.'~j', , J, ;~ .lyy ,11 , K~7-~~ '1'1: rl,.,i ,i-y ~ I~>_ '~G' -q, ~y y ' ,1y'r.' "ry ;t 1 Q•~~ !, •Ual~7 ~•I,tl116,~1. ~',(' r, ,lo~•,! .,.,' :11N`,i l~: fti~1 `•~ .1~,,. .',1' ~ :!~•1 ®®3 L6,Je°SG ~6 t' i 1. ~ ~,, . _ .•,, ,. .~;~ ~~'t" ISIS '1•- a :1. Patna 1 X11 , ~=~~:5-~~'%'•.1•~1' ,' .t'' .'IS.~Y11•~'!,' '. •,?~:;~•: ~'~ ' ~. •'1 s , I .•~ a •! :i 15-i,'; r~li?.~ ,'L~.. 1i 1n~.~b'' :.' t•. ~}'tl~i'~ , ~~1.,' , 1 ~ . 1' ~ d ~ ~NB ~wP~~®~9~~ ~r, , , ~ u'•i t, ...•, .,~ _ ~::~~.~_~.',':.''•;~~%'~'~.•"r;', , ' ~T~i1a~:,Daafl;'1 made this ~ day vY ~~"0 1990, ?;~ DEVEIABMENT Cet+iPANY, -a iSebraxx8 ~~"•~`~~'.';•,riet~raen` UPP,AND-2NDU5TR17~I+ • i`;~ `~,-~: ';4,.i=~coYpbYhtionr;"'cd1=• 3D30,, I,HJ Fraaway, I Suites 1500; Dallas, County 'Z'e` ';<<~i'oi;,,ba~lae;•:1~~n~ae ,758'34, Grantor, snd'~GE~iTONI~, ~ ~~G: ; an 2daho 'r~ Tr~;~~`brpor'atioti';,,~,'o~ :P::` b'.. Hox z~a~, Eoiea, Idaho 83701, Grantee: -~ `t,:.~~~;~';'s;~};~{;J'~~~«ITNE9SETF~,~~That Grantor; 'tor and in' consS,dera~Cion •,• •i~;,o~~thd;~~i11n•;,oi~,'~Ttin,'Dollaia •(510,, 00).' and other good and valuable 'ry~l.~~on9ia~'a~idli'"'td,:rG~antior ~paid~ ~by, Grantee•; •the rao4ipt whereof ~ ~;'~t,',•,..,,,• f 1~1 ,.....' ~,~ , , 1~»5i+il~~~•lie~eby~ :cont~ss~a'd!~•and : ackriowlsdgad, ~ has granted, bargained, ~N~'~'bl~cly~rcl;t~cohveXod~;°''~nd' by~'thesn presents doe9, grant, bargain, ' %~'a~~.~~~''zlriii~•'a'onvey;~'~int~ ' Grantee; its vu~eessor9 nfl' assi.gn9 6'f', a , r •'~'~3~~~a;~;•`,~a ~1r~~o~~,;tha.;xreal'.,property ;("Property%~) situate in' the '~~ ~~'~~t~~?n;ts;;t~a~~~i~ari, cotitity'''o=' Ada, 8tatia or ~Ydaho, more ' ,?: • ,pgl~tidtiil'ai-1~;~~scribbd' in Exhibit A• attached harvto and he=ebX ;'. .~: ;;,,,>~ade a;'pazt=;hsfeof. ' '• ~~': ~. rl ~• Thi~~ deHd ~~5 A~ad® SV~,7TCT TD the toll owing: - ~~`~~ ":. ~' .•(a) ;, All' taxan, and all a>asass~ents, . ar, it • ~~, ~'~'~~; ~'.:• . .~payeble ~in~ inataTlment~, all in~tallmants of •. ' °*>'' i ; ' '~eaa4axmdnts, ;~].eviad upon or assem®od~,a-gainst ~ths ' • ~~'~' '' ~'• es 'deccribefl in Exhibit A tahiah.'becalap nor ,premix r.. ~.4 ~ 1~ ed. -~ •, ,,~ • , ,may begone dux. and. peyabl• in .the year 1990 »hall __~~,,,,,,t•1'a.~; •'' • ba prorat'a8 as ~'ol; the date of d®livery of thi's ~~k~'~. deed, kiy Orantor,:to ,Gra,ntaA, said dat® being the ' n'r'.`~' ~~~• 31se day ~oP ~uauat• 19601,.; Grid Grantee i,~;aY;y,,, • ~''r.L~i;.,s~~, ~ ~ asxumeg 'nnd agraea 'to pay, •or „to 'reimb>,r9Q Grantor '~ ,,;,f tR • ~ •'for, ' i~~•:paid }yy.,',it,' 'aIl such Itsstaa and assasasjraants ~ ';;':','i~: • ; and ~ inata111aents' at ' asses9mants ' appliosbin to the • ~ ~~.r'i±~'-~'"~,' period°;stibgsgiiefit to the date of deliv®ty o~ this ' flaed • and';~a9aumea all taxos and all eamessmefltg snc9 :. __ ~.~:,if1~ all iriethll.ment's of aeses+aments Which may become ~~~~Y~ •~' ;'•,~'~ ' "dwo .ane •p"eynbl'e;, attar said years and 7~';'~~3;'•? _' :,~;~ ;~1l, •(b).. ''~~+fly•'s'n~!':?al•1''rc3tri'ations And lim.itatione ~;~~ci,,~,~t. :,a , %~.mpo~od Eby public authority, and any easements, ~~ <~;; .% `t•• •';'•~'~-i'e9tribtiott>a, ~a~ccaptioris, reaorvationrtis, a, ` ~• ~`'•:,';,~•'conditi,arl9, and/or ;outstst~dinq rights o~ record, ,•~`~~_' =1, "~~'• 'ificlu~irig,• but'not'limitad to, th® g: •.r ~ .. +•:1 ~+, , ('i)'' ~; Exaaption and reservation of all J J •k'.•I • .I , 1 S ;;; ~: ;';;•~'1•~r:' `~}•'•ntinerals'and.'all Mineral rights containmd in •'~~~'` ~~t;,>' ''~:;;:` •~•_,thet'~ c~ertain'',C2uitclAim Deed dated July 23, 1988 (1 ~4' .~ ',`x'1,'1 ~~• I~, ~'~.. 1` ' , 1 . ~ ' • • rl ~{ti'1!'?'!`y~N'•:n•M1•~;~'1,~~~~t~T9•'~ .~~I^~'•' .1 •. ''I; .T -_ ~~.LAf :r-i.~•'•!'? ~~.flu•1l~ul~t` . t ~'R:.~~1... ~'Fr~:.~-~:h5'~'_C ~ •r :~. '~~.',•. i~"f `~ .S r•.;°li~u'i~~.. • 1 , Hl.:_ ~. t:~ ~ '.'-'. 01/09J2044 17:39 FAX ^cOB 383 7645 US BANK CRED Nt~1-19-2003 14:11 ~ U,S. BRNK INTERNR7IONRL ~~anK. ~~ ,r .. f~j001/002 206 344 5374 P.02i03 ,~; U.S, BANK NATIONAL ASSOCIATION INTERNATIONAL DEPARTMENT 1420 FIFTH AYEI~UE, 9TH FLOOR SEATTLE, WA 98101 U.S.A- PHONE: X06-3aa-2398 FAX: 20fr344.53 74 -. --.o..~e~-_ IRREVOCABLE STANDBY LETTER OF CREDIT NOVEMBER 18, 2003 BENF,FICIARY: CITY OF MERIDIAN 660 EAST WAT6RTOWER LANE, SUITE 202 MERIDIAN, ID 83642 ATTN: WENDY KIRKPATRICK APPL]CANT: EAGLE-FA1RV16W INVESTMENT CO., LLC 313 PILOT ROAD, SUITE A LAS VEGAS, NV 89119 LETTER OF CREDIT NUMBER: SLCSSEA01516 r ~ . EXPIRY DATE: NOVEMBER 13, 2004 AT. OUR COUN'1~RS PRESENTLY LOCATED AT 1420 F]FTH A VENUE, 9TH FLOOR, INTERNATIONAL DEPARTMENT, SEATTLE, WA, 98101 ON OR SEFORir 5:00 P,M- AMOUNT U.S_S9,B6 i .50 NOT >rXCEEDING NINE THOUSAND EIGHT HUNDRED S1XTY ONE ANO SO/ l OQ U,S, DOLLARS WE HEREBY 15SUE THIS IRREVOCABLE STANDBY LETTER OF CREDIT AVAILABLE BY YOUR DRAFT(S) DRAWN AT S1GHT ON U_S_ BANK NATIONAL A550CIATION AND ACCOMPANIED B'Y THE FOLLOW1Nd DOCUMENTS. 1. A STILTEMENT PURPORTEDLY SIGNED 8Y AN AUTHORIZED INDIVIDUAL FOR THE CITY OF MERIDIAN AS rOLLOws: "EAGLE-FAIRv1Ew INvESTMFSiT COMPANY, LLC IS IN DEFAULT OR IiA9 FAILED TO PERFORM UNDER THE TERMS AND CONDITIONS Rl;LATI~-'E TO THE COMPLETION OF THE LANDSCAPING FOR THE KRISPY KREtV[E LOCATED AT EAGLE ROAD AND FAIRVIEW AVENUE 1N MERIDIAN, ID, Z. THE ORIGINAL OF THIS LETTER OF CREDIT, INTCLUDING ANY AMENDMENTS, ADDITIONAL CONDITIONS: 1- PARTIAL DRAWINGS ALLOWED 2. ALL BANIGING CHARGES OTHER THAN THOSE OF THE ISSUING BANK IS FORACCOUNT OF THE BENF~lCIARY. DRAF"fS DRAWN UNDER Tl~liS CREDIT MUST BEAR THE CLAUSE: "DRAWN UNDER U.S. BANK NATIONAL ASSOCIATION IRREVOCA13l,E STANDBY LE'I'I'ER OF CREDIT NO. SLCSSEAOISIb". THIS CREDIT IS SUB.IEC'T TO "THE UNIFORM CUSTOMS AND PRACTiC>= POR DOCUMENTARY CR5DIT5" (1993 REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO.500". ~~o - TH15 PAGE 1 FORMS AN INTEGRAL 1'AliT OF l.$TTER OF C1ZfiAt7` NO. SLCSSSA01516 " ~ -. 0110912004 17:35 FAX c^08 383 1645 US BANK CRED I~j0021002 NDU-19-2003 14 12 ~ U.S. BANK INTERNATIONAL ,~ ~~~~~ 206 34d 5374 P.A3i03 Cne5~'ScrviaGuacltlrted ~'~ '~~ ~ .. W'E HEREBY ENCiAGE'WITH YOU TFIAT DRAFT(S) DRAWN AND/OR DOCUMLTITS PRESENTED UNDER AND I1V' COMPLIANCE WITH THE TERMS OF THIS IRREVOCABLE STANDBY LETTER OF CREDIT wiLL BE DULY HONORED UPON PRESENTATION TO u5. DRp-FT(S) AND DOCUMENTS MUST BE PR1:5ENTED TO OUR OFFICE AT U.S. BANK NATTONAI, A550C1AT30N, INTERNATIONAL DEPARTMENT, ]420 5~~ avBNUE, 9'~" FLOOR, S$ATTI.E, WA, 98103, OR AT 101 S. CAPITOL BLVD., BS-ID-CB8, 8T" FLOOR, SUITE 814, BOISE, IDAHO 83702, ATT'N: GARY DEGRANQE IN PERSON, OR HY OV'ERNIGHT CQURIER, ON OR BEFORE THE EXPIRATION DATE OF THIS LETTER OF' CRF,DIT. U.s. BANK NgTaONAL ASSOCIATION INTERNATIONAL BANKING 171ViS10N UTHORI D SIGNATURE THIS PAG$ 2 FORMS AN 1N1'EGRAL PART OF LL'TT1;R OF CREDIT NO_ SLCSSEAOI$16 TO7RL P.03 SCNT 3Y: Thomas T. 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