HomeMy WebLinkAboutS_CORRECTED_Release_Letter_LOC_3088147_LUA06-009_20230614
June 21, 2023
Bank of America Corporate Center
100 N. Tryon Street
Charlotte, NC 28255
Sent via email to Dalton Smith at daltons@connerhomes.com
Sent CORRECTED letter via USPS certified mail, tracking #7022 2410 0003 0390 9350 to Bank of America
SUBJECT: CORRECTED LETTER - RELEASE OF IRREVOCABLE STANDBY LETTER OF CREDIT #3088147
SHY CREEK PLAT / LAND USE PROJECT #LUA06-009
Dear Sir/Madam:
This letter will serve as authorization to release the Irrevocable Standby Letter of Credit #3088147 from
Bank of America, N.A. issued to Conner Homes Company on June 29, 2007, in the amount of $95,000.00.
This item was posted to the City of Renton on behalf of the Shy Creek Plat project. Enclosed is the original
document for your reference.
If you have any questions, please contact the Current Planning Manager, Matt Herrera at
mherrera@rentonwa.gov or at (425) 430-6593.
Sincerely,
Vanessa Dolbee
Planning Director
Enclosure(s): Bank of America, N.A. Irrevocable Standby Letter of Credit #3088147
cc: Matt Herrera, Current Planning Manager
Jennifer Cisneros, Planning Technician
Conner Homes Company
Attn: Dalton Smith
12600 SE 38th Street, Suite 250 Bellevue, WA 98006
-BankofAmericaBANKOFAMERICA-CONFIDENTIALPAGE:1DATE:JUNE29,2007IRREVOCABLESTANDBYLETTEROFCREDITNUMBER:3088147ISSUINGBANKBANKOFAMERICA,N.A.1000W.TEMPLESTREET7THFLOOR,CA9-705-07-05LOSANGELES,CA90012-1514BENEFICIARYAPPLICANTCITYOFRENTONCONNERHOMESCOMPANY10555.GRADYWAY846108THAVENERENTON,WA98056BELLEVUE,WA98004-.AMOUNTNOTEXCEEDINGUSD95,000.00NOTEXCEEDINGNINETYFIVETHOUSANDAND00/100’SUSDOLLARSEXPIRATIONJUNE7,2012ATOURCOUNTERSDEARCITYOFRENTON:WE(THE“BANK”)HEREBYESTABLISH,ATTHEREQUESTANDFORTHEACCOUNTOFCONNERHOMESCOMPANY(THE“OWNER),INYOURFAVORTHISIRREVOCABLESTANDBYLETTEROFCREDITNUMBER3088147,INTHEAMOUNTOFNINETYFIVETHOUSANDAND00/100U.S.DOLLARS($95,000.00).WEAREADVISEDBYTHEAPPLICANTTHATTHEPURPOSEOFTHISLETTERISTOINSURETHATTHEIMPROVEMENTSARECOMPLETEDFORTHEPROJECTKNOWNASSHYCREEKPLAT(THE“PROJECT”),BUILDINGPERMITNUMBERLUAO6-009.THISLETTEROFCREDITSHALLBEEFFECTIVEIMMEDIATELYANDSHALLEXPIREON:1.OURCLOSEOFBUSINESSONJUNE7,2012(THE“EXPIRATIONDATE’;OR2.THEDATEONWHICHTHERESHALLBEADRAWINGOFTHEFULLFACEAMOUNTOFTHISLETTEROFCREDIT;OR3.THEDATEONWHICHTHEBENEFICIARYSHALLHAVEDELIVEREDTOUSAVALIDCERTIFICATEOFCANCELLATIONOFTHELETTEROFCREDITANDACCOMPANIEDBYTHEORIGINALOFTHISLETTEROFCREDITFORCANCELLATION.ORIGINAL05-17-1486B7-2000
BankofAmericaBANKOFAMERICA-CONFIDENTIALPAGE:2THISISANINTEGRALPARTOFLETTEROFCREDITNUMBER:3088147WEHEREBYIRREVOCABLYAUTHORIZEYOUTODRAWONUSBYDELIVERINGTOUSINACCORDANCEWITHTHETERMSANDCONDITIONSHEREOF,YOURSIGHTDRAFTORDRAFTS,WITHEACHSUCHDRAFTACCOMPANIEDBYYOURSIGNEDANDDATEDSTATEMENTDETAILINGTHEREASONFORTHEDRAW-DOWN,INAGGREGATEAMOUNTNOTEXCEEDINGTHEAVAILABLEAMOUNT.MORETHANONEDRAFTMAYBEPRESENTEDSOLONGASTHEENTIREAMOUNTOFSUCHDRAFTSPRESENTEDINCONNECTIONTHEREWITHDOESNOTEXCEEDTHEAMOUNTHEREUNDER.EACHDRAFTANDCERTIFICATEPRESENTEDHEREUNDERMUSTBEDATEDTHEDATEOFPRESENTATIONTOTHEBANK.IFADRAWINGINRESPECTOFPAYMENTISMADEBYYOUHEREUNDERPRIORTO9:00A.M.(PACIFICSTANDARDTIME)ONABUSINESSDAY,ANDPROVIDEDTHATSUCHDRAWINGANDTHESTATEMENTPRESENTEDINCONNECTIONTHEREWITHCONFORMTOTHETERMSANDCONDITIONSHEREOF,PAYMENTSHALLBEMADETOYOUONTHEAMOUNTSPECIFIED,INIMMEDIATELYAVAILABLEFUNDSONTHENEXTBUSINESSDAY.IFADRAWINGINRESPECTOFPAYMENTISMADEBYYOUHEREUNDERAFTER9:00A.M.(PACIFICSTANDARDTIME)ONABUSINESSDAY,ANDPROVIDEDTHATSUCHDRAWINGANDTHESTATEMENTPRESENTEDINCONNECTIONTHEREWITHCONFORMTOTHETERMSANDCONDITIONSHEREOF,PAYMENTSHALLBEMADETOYOUONTHEAMOUNTSPECIFIED,INIMMEDIATELYAVAILABLEFUNDS,ONTHESECONDBUSINESSDAY.WEHEREBYENGAGEWITHYOUTHATDRAFT(5)DRAWNUNDERANDINCOMPLIANCEWITHTHETERMSOFTHISLETTEROFCREDITWILLBEDULYHONOREDUPONPRESENTATIONTOUSAT1000WESTTEMPLESTREET,7THFLOOR,MAILCODE:CA9-705-07-05,LOSANGELES,CA90012ATTN:STANDBYLETTEROFCREDITDEPARTMENTONORBEFORETHEEXPIRATIONDATE.THISLETTEROFCREDITISSUBJECTTOTHEUNIFORMCUSTOMSANDPRACTICEFORDOCUMENTARYCREDITSOFTHEINTERNATIONALCHAMBEROFCOMMERCE,PUBLICATIONNO.500(THE“UNIFORMCUSTOMS”)ANDASTOMATTERSNOTGOVERNEDBYUCP500,SHALLBEGOVERNEDBYANDCONSTRUEDINACCORDANCEWITHTHELAWSOFTHESTATEOFWASHINGTON,INCLUDINGWITHOUTLIMITATIONTHEUNIFORMCOMMERCIALCODEOFTHESTATEOFWASHINGTON(THE“UCC”).INTHEEVENTOFACONFLICTBETWEENTHEUCP500ANDTHEUCC,THELAWSOFTHESTATEOFWASHINGTONSHALLCONTROL.ORIGINAL05-17-1486B7-2000
BankofAmericaBANKOFAMERICA-CONFIDENTIALPAGE:3THISISANINTEGRALPARTOFLETTEROFCREDITNUMBER:3088147ANYTHINGTOTHECONTRARYINARTICLE45OFTHEUCP500NOTWITHSTANDING,THISLETTEROFCREDITISINTENDEDTOREMAININFULLFORCEANDEFFECTUNTILITEXPIRESINACCORDANCEWITHITSTERMS.IFYOUREQUIREANYASSISTANCEORHAVEANYQUESTIONSREGARDINGTHISTRANSACTION,PLEASECALL213-481-7845.AUTHORIZEDSIGNATURETHISDOCUMENTCONSISTSOF3PAGE(S).I3olivarCarriktORIGINAL05-17-1486B7-2000