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Home My WebLink AboutBOND (Letter of Credit)BANKOFAMERICA’’tBANKOFAMERICA-CONFIDENTIALPAGE:1DATE:JANUARY8,2020IRREVOCABLESTANDBYLETTEROFCREDITNUMBER:68170305APPLICANTBENEFICIARYDIANNEMDOUGHERTYCITYOFRENTONANDAUDREYCOVNER1055SGRADYWAY302490THPLSERENTON,WA98057MERCERISLANDWA98040ATTN:FINANCEDIRECTORISSUINGBANKBANKOFAMERICA,N.A.ONEFLEETWAYPAG-580—02—30SCRANTON,PA18507-1999AMOUNTNOTEXCEEDINGUSD425,874.49NOTEXCEEDINGFOURHUNDREDTWENTYFIVETHOUSANDEIGHTHUNDREDSEVENTYFOURAND49/100’SUSDOLLARSEXPIRATIONJANUARY12,2021ATOURCOUNTERSDEARCITYOFRENTON:WEBANKOFAMERICA,N.A.HEREBYESTABLISHATTHEREQUEST,ANDFORTHEACCOUNTOFDIANNEDOUGHERTY,INFAVORTHISIRREVOCABLESTANDBYLETTEROFCREDIT#68170305,INTHEAMOUNTOF$425,874.49TOFINANCECERTAINIMPROVEMENTSINTHEOWNERSPROPERTY.WEBANKOFAMERICA,N.A.,HEREBYESTABLISHATTHEREQUEST,ANDFORTHEACCOUNTOFDIANNEMDOUGHERTYANDAUDREYCOVNER,INYOURFAVORTHISIRREVOCABLESTANDBYLETTEROFCREDIT#68170305,INTHEAMOUNTOF$425,874.49,WHICHWEAREADVISEDISTOFINANCECERTAINIMPROVEMENTSINTHEOWNER’SPROPERTY.WEAREFURTHERADVISEDTHATTHEPURPOSEOFTHISLETTERISTOINSURETHATTHEIMPROVEMENTSLISTEDBELOWARECOMPLETEDFORTHEPROJECTKNOWNASBETHANYCORNERSHORTPLAT,PERMIT#LUA16-000958.INTHEFOLLOWINGSPACE,DESCRIBETHEIMPROVEMENTSREQUIRED:LANDSCAPING,STORMWATERMANAGEMENT,UTILITIES,SIDEWALKS,ALLASDESCRIBEDINTHEDEPARTMENTOFCOMMUNITYANDECONOMICDEVELOPMENTADMINISTRATIVEREPORTANDDECISIONDATEDJANUARY12,2018ISSUEDBYTHECITYOFRENTON,WA.THISLETTEROFCREDITSHALLBEEFFECTIVEIMMEDIATELYANDSHALLEXPIREON:1.OURCLOSEOFBUSINESSONTHEBUSINESSDAYCOINCIDENTWITHORORIGINAL05-17-I11)61107-2010 BANKOFAMERICA’%BANKOFAMERICA-CONFIDENTIALPAGE:2THISISANINTEGRALPARTOFLETTEROFCREDITNUMBER;68170305IMMEDIATELYFOLLOWING;OR2.THEDATEONWHICHTHERESHALLBEADRAWINGOFTHEFULLFACEAMOUNTOFTHISLETTEROFCREDIT;OR3.THEDATEONWHICHTHEOWNERSHALLHAVEDELIVEREDTOYOUAVALIDCERTIFICATEOFCANCELLATIONOFTHELETTEROFCREDITANDSUBSTITUTIONOFALTERNATELETTEROFCREDIT,INAFORMANDDRAWNONAPRINCIPALINSTITUTIONACCEPTABLETOTHECITY,ATWHICHTIMEYOUSHALLCANCELTHISLETTEROFCREDITANDRETURNITTOUSACCOMPANIEDBYYOURWRITTENAUTHORIZATIONTOCANCELTHISLETTEROFCREDIT.WEHEREBYIRREVOCABLYAUTHORIZEYOUTODRAWONUSBYDELIVERINGTOUSINACCORDANCEWITHTHETERMSANDCONDITIONSHEREOF,YOURSIGHTDRAFTORDRAFTS,WITHEACHSUCHDRAFTACCOMPANIEDBYYOURSIGNEDANDDATEDSTATEMENTDETAILINGTHEREASONFORTHEDRAW-DOWN,INANAGGREGATEAMOUNTNOTEXCEEDINGTHEAMOUNTABOVE.MORETHANONEDRAFTMAYBEPRESENTEDSOLONGASTHEENTIREAMOUNTOFSUCHDRAFTSPRESENTEDINCONNECTIONTHEREWITHDOESNOTEXCEEDTHEAMOUNTAVAILABLEHEREUNDER.EACHDRAFTANDCERTIFICATEPRESENTEDHEREUNDERMUSTBEDATEDTHEDATEOFPRESENTATIONTOTHEBANK.ANYDRAW-DOWNPRESENTEDPRIORTO10:00A.M.WHICHISINFULLCOMPLIANCEWITHTHETERMSOFTHISLETTEROFCREDITWILLBEHONOREDBYOURPAYMENTTOYOUOFTHEDRAFTAMOUNTBYWIRETRANSFEROFIMMEDIATELYAVAILABLEFUNDSFORTHEATTENTIONOFTHEPERSONSPECIFIEDBYYOUINSUCHDRAFT,NOLATERTHANONTHEBUSINESSDAYCOINCIDENTWITHTHEDATEOFPRESENTATIONOFSUCHDRAFT.DRAWINGSMAYBEMADEUNDERTHISLETTEROFCREDITINACCORDANCEWITHTHETERMSHEREOF.MORETHANONEDRAWINGMAYBEMADEUNDERTHISLETTEROFCREDITASDESCRIBEDABOVE.ANYPRESENTATIONUNDERTHISLETTEROFCREDITMUSTBEMADEASHEREINSPECIFIEDTOTHELETTEROFCREDITOFFICEOFTHEBANK.THISLETTEROFCREDITISSUBJECTTOTHEUNIFORMCUSTOMSANDPRACTICEFORDOCUMENTARYCREDITSOFTHEINTERNATIONALCHAMBEROFCOMMERCE,PUBLICATIONNO.600(UNIFORMCUSTOMS)ASINFORCEONTHEDATEOFISSUANCEOFTHISLETTEROFCREDIT.THISLETTEROFCREDITSHALLASTOMATTERSNOTGOVERNEDBYTHEUNIFORMCUSTOMS,BEGOVERNEDBYANDCONSTRUEDINACCORDANCEWITHTHELAWSOFTHESTATE,INCLUDINGWITHOUTLIMITATIONTHEUNIFORMCOMMERCIALCODE(UCC)OFTHESTATEOFWASHINGTON.INEVENTOFACONFLICTBETWEENTHETERMSOFTHISLETTEROFCREDITANDEITHEROFTHEUNIFORMCUSTOMSOFTHEUCC,THELETTEROFCREDITSHALLCONTROL.ASBETWEENTHEUNIFORMCUSTOMSANDTHEUCC,THEUNIFORMCUSTOMSSHALLCONTROL.ANYTHINGTOTHECONTRARYINARTICLE45OFTHEUNIFORMCUSTOMSNOTWITHSTANDING,THISLETTEROFCREDITISINTENDEDTOREMAININFULLFORCEANDEFFECTUNTILITEXPIRESINACCORDANCEWITHITSTERMS.ORIGINAL15.17-I4SOBllt’OI’) BANKOFAMERICA%BANKOFAMERICA-CONFIDENTIALPAGE:3THISISANINTEGRALPARTOFLETTEROFCREDITNUMBER:68170305IFYOUREQUIREANYASSISTANCEORHAVEANYQUESTIONSREGARDINGTHISTRANSACTION,PLEASECALL1-800-370-7519.NEOFANKOFFICER(PRINT)AUTHORIZEDSIGNATURETITLE(PRINT)2W-5/p-75/PHONEORIGINAL05-17-4861107-2019 BANKOFAMERICA‘‘BANKOFAMERICA-CONFIDENTIALPAGE:1DATE:JANUARY14,2020AMENDMENTTOIRREVOCABLESTANDBYLETTEROFCREDITNUMBER:68170305AMENDMENTNUMBER1APPLICANTBENEFICIARYDIANNENDOUGHERTYCITYOFRENTONANDAUDREYCOVNER1055SGRADYWAY302490THPLSERENTON,WA98057MERCERISLANDWA98040ATTN:FINANCEDIRECTORISSUINGBANKBANKOFAMERICA,N.A.ONEFLEETWAYPA6-580-02-30SCRANTON,PA18507-1999THISAMENDMENTISTOBECONSIDEREDANINTEGRALPARTOFTHEABOVECREDITANDMUSTBEATTACHEDTHERETO.THEABOVEMENTIONEDCREDITISAMENDEDASFOLLOWS:REMOVE:THISLETTEROFCREDITISSUBJECTTOTHEUNIFORMCUSTOMSANDPRACTICEFORDOCUMENTARYCREDITSOFTHEINTERNATIONALCHAMBEROFCOMMERCE,PUBLICATIONNO.600(UNIFORMCUSTOMS)ASINFORCEONTHEDATEOFISSUANCEOFTHISLETTEROFCREDIT.THISLETTEROFCREDITSHALLASTOMATTERSNOTGOVERNEDBYTHEUNIFORMCUSTOMS•BEGOVERNEDBYANDCONSTRUEDINACCORDANCEWITHTHELAWSOFTHESTATE,INCLUDINGWITHOUTLIMITATIONTHEUNIFORMCOMMERCIALCODE(0CC)OFTHESTATEOFWASHINGTON.INEVENTOFACONFLICTBETWEENTHETERMSOFTHISLETTEROFCREDITANDEITHEROFTHEUNIFORMCUSTOMSOFTHEUCC,THELETTEROFCREDITSHALLCONTROL.ASBETWEENTHEUNIFORMCUSTOMSANDTHEUCC,THEUNIFORMCUSTOMSSHALLCONTROL.REPLACEWITh:THISLETTEROFCREDITISSUBJECTTOTHEUNIFORMCUSTOMSANDPRACTICEFORDOCUMENTARYCREDITSOFTHEINTERNATIONALCHAMBEROFCOMMERCE,PUBLICATIONNO.600(UNIFORMCUSTOMS)ASINFORCEONTHEDATEOFISSUANCEOFTHISLETTEROFCREDIT.THISLETTEROFCREDITSHALLBEDEEMEDTOBEACONTRACTMADEUNDERTHELAWSOFTHESTATEOFWASHINGTONANDSHALL,ASTOMATTERSNOTGOVERNEDBYTHEUNIFORMCUSTOMS,BEGOVERNEDBYANDCONSTRUEDINACCORDANCEWITHTHELAWSOFTHESTATE,INCLUDINGWITHOUTLIMITATIONTHEUNIFORMCOMMERCIALCODE(UCC)OFTHESTATEOFWASHINGTON.INEVENTOFACONFLICTBETWEENTHETERMSOFTHISLETTEROFCREDITANDEITHEROFTHEUNIFORMCUSTOMSOFTHEUCC,THELETTEROFCREDITSHALLCONTROL.ASBETWEENTHEUNIFORMCUSTOMSANDThEUCC,THEUNIFORMCUSTOMSSHALLCONTROL.ALLOTHERTERMSANDCONDITIONSREMAINUNCHANGED.IFYOUREQUIREANYASSISTANCEORHAVEANYQUESTIONSREGARDINGTHISAMENDMENT,PLEASECALL800-370-7S19ORIGINAL BANKOFAMERICA%BANKOFAMERICA-CONFIDENTIALPAGE:2AUTHORIZEDSIGNATURETHISDOCUMENTCONSISTSOF2PAGE(5)ORIGINAL