HomeMy WebLinkAboutS_Release_Letter_LOC_Wetland_LUA05-164_20170817
August 17, 2023
Scott Cameron
Land Advisors Organization
8015 165th Avenue NE
Redmond, WA 98052
SUBJECT: RELEASE OF SET-ASIDE LETTER OF CREDIT CONSTRUCTION LOAN #170000903
TALL FIRS AT HONEY CREEK / LUA05-164
Dear Mr. Cameron:
This letter will serve as authorization to release the Set Aside Letter of Credit from Foundation Bank issued
to Bent Nose, LLC on June 27, 2007, in the amount of $8,320.06. This item was posted to the City of Renton
on behalf of the Tall Firs at Honey Creek project. Enclosed is the surety document for your reference.
If you have any questions, please contact the Planning Technician, Jennifer Cisneros jcisneros@rentonwa.gov
or at (425) 430-6583.
Sincerely,
Matthew Herrera
Current Planning Manager
Enclosure(s): Foundation Bank Set Aside Letter of Credit Construction Loan #170000903
cc: Matthew Herrera, Current Planning Manager
JUN2?2007VISIONSETASIDELETTER[Lender!foundationBankhasondepositinConstructionLoan#170000903thesumor$8,320.06tocoverTheconstructionofTheTallfirsProlectSaidfundswillbedistributedonlyafter[LenderlFoundationBankhassatisfieditselfthattheworktobepaidforhasactuallybeenperformedtothesatisfactionoftheCityofRenton.Thesefundssetasideshallnotbedisbursedtotheborrower,acontractorworkingfortheborrower,oranythirdpartywithoutthepriorwrittenapprovaloftheCityofRentonandthisloanshallnotbeterminatedorallfundsthereunderdistributedwithoutthepriorapprovaloftheCityofRenton.Intheevent[Owner/BentNose,LLCfailstocompleteanypayfortheimprovementsasrequiredbytheCityofRenton,allfundsremaininginsaiddepositshallbemadeavailabletotheCityofRentontocompleteandpayforthecostofsaidimprovements.-FoundationBankBankAuthorizedSignatureAuthorized$ignaturScottCameron,ManagerCurtisDrury,VPName,TitleName,Title___£fizjcDateDateBentNoseLLCBELLEVUE:II10I12THAVENUENE,SUITE00,BELLEVUE,WA98004TELEPHONE:425.691.5000,FAX425.691.5002