HomeMy WebLinkAboutS_AOF_M&M_Stream_LUA14-000093U.S.TRUST44BankofAmerica,NA.BankofAmericaPrivateWealthManagementPrintFormResetFormASSIGNMENTOFFUNDSTOTHECITYOFRENTONApplicant:LakeridgeDevelopmentI,LLCOwner:LakeridgeDevelopmentI,LLCAddress:PDBox146Renton,WA98057Seattle,WA98104Phone:425-228-9750Email:waynejonesjrgmail.comAttention:WmWayneJones,Jr.Title:ManagingMemberPhone:206-358-5740Fax:206-358-5820Attention:BryanHattanTitle:ClientSalesandServiceOfficerTheabovereferencedbankherebycertifiesthat$TwentyOneThousandThreeHundredThirtySevenand79/100($2133779)isondepositinaccountU138121168764,underthenameoftheCityofRenton,tosecuretheapplicant’sperformanceofthefollowingworkrequiredinconnectionwiththeplatorprojectdescribedbelow:PlatorProject:Mindy’sPlaceLocation/AddressofPlatorProject:160thAve.SEandSE140thSt.Therequitedworkisgenerallydescribedasthefollowing:WetlandsMitigationThebankherebycertifiesandagreesthatthesefundswillnotbereleasedwithoutwritteninstructionsfromanauthorizedagentoftheCityofRenton(theCity).WefurtheragreethatthesefundswillbepaidtotheCitywithinten(10)daysofreceivingwrittennoticethattheCityhasdeterminedthattherequiredworkhasnotbeenproperlyperformed.ThebankshallhavenodutyorrighttoevaluatethecorrectnessorappropriatenessofanysuchnoticeordeterminationbytheCityandshallnotinterpleadorinanymannerdelaypaymentofsaidfundstotheCity.TheapplicantherebyagreestothisAssignmentofFundsandthatitsobligationtoperformtherequiredworkisnotlimitedtotheamountoffundsheldbythebank.ThisAssignmentofFundsisirrevocableandcannotbecancelledbythebankorapplicant.Thesefundsmaynotbeassigned,pledged,usedassecurityorotherwisemadeavailabletotheapplicant,bankorthirdpartywithoutthepriorwrittconsentoftheCity.Jones,J\AJohzeignat/reManagingMemberTitle/,/IDateTitle/7//DateH:\CED\Data\Forms-Templates\Self-HelpHandouts\PublicWorks\AssignmentofFunds.docxWA1-501-32-02,8005thAvenue,32ndFloorSeattle,WA98104T2063583347F2063585820U.S.TrustoperatesthroughBankofAmerica,NA.andothersubsidiariesofBankofAmericaCorporation.BankofAmerica,NA,MemberFDICRev:02/12/15Bank:BankofAmericaBranch:USTrustAddress:8005thAveFloor32Ap1at/wner.1,
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DenisLawCtfCommunity&EconomicDevelopmentDepartmentC.E.”Chip”Vincent,AdministratorJune10,2016LakeridgeDevelopmentWayneJonesPCBox146Renton,WA92057Subject:ApprovalofStreamMitigationPlanandremainingstepsforproceedingwiththeMindy’sPlacePreliminaryPlat,FileNo.LUA14-000093DearMr.Jones:MitigationPlanApproval:Weapprovedthefinalwetlandmitigationplan/monitoringproposalMindy’sPlacePreliminaryPlatreceivedbytheCityonOctober15,2015.Themitigationprojectshallbeinstalledinconformancewiththeapprovedplanpriortorecordingoraseparatesuretydeviceshallbeprovided.Additionally,theas-builtplanwouldbesubjecttoCurrentPlanningProjectManagerapprovalandthereviewofthefinalplanmayrequirechangestobemadeinfieldforplantings.SuretyDevices:ThisletterisalsoconfirmingtheCityhasreceivedthefollowingsuretydevices:WetlandMitigationInstallation:$21,337.79ThesuretydevicefortheinstallationwillbereleasedoncesuccessfulinstallationoftheprojecthasbeenconfirmedNextSteps:WorkwiththePlanReviewSectiontoobtainconstructionpermitsandbeginworkonwetlandmitigationinstallationconsistentwiththeapprovedplan.MitigationInstallationandApproval:Oncethewetlandmitigationhasbeeninstalled(plants,signage,fencing,etc.)pursuanttotheapprovedplan,pleasehaveyourbiologistprovidemewithwrittenverificationthattheinstallationandanas-builtplansubjecttoapprovalbytheCurrentPlanningProjectManager.MonitoringandMaintenanceSuretyAmount:Inordertoprovideyouwiththeamountofsecuritynecessaryforthemaintenanceandmonitoringofthemitigationplantings,signage,andfencing,wewillneedacopyofthesignedmaintenanceandmonitoringcontractforthiswork.Adraft(followedbyafinal)maintenanceandmonitoringcontractforcontracts)forourreviewpriortoexecutionofthecontractshallbeprovided.ThedraftcontractlanguagemustensurecompliancewithboththeperformancestandardsoftheSewallWetlandConsulting,Inc.,mitigationplanaswellthemaintenanceandmonitoringstandardsoftheRentonMunicipalCode.Thescopeofthecontractmustclearlycoverthecostofplantmaintenanceandreplacementaswell.Thelanguageinthecontractmustalsoguaranteethat“structures,improvements,andmitiga,33tionperformsatisfactorilyforaperiodof5years”(e.g.addRentonCityHall.1055SouthGradyWay.Renton,Washington98057.rentonwa.gov
provisionsforplantreplacementandweedremovalreferencingcompliancewiththesurvivalratesnotedinthefinalapprovedwetlandmitigationplan.ThedraftcontractmustbefollowedupwithafinalsignedcontractoncetheCityapprovesthedraftversion.OncetheCityapprovesthecontractproposal,theapplicantwillneedtoprovideamaintenancesuretydevice(aletterofcreditorirrevocablesetasideletter)setatanamounttotaling125%ofthecosttoguaranteesatisfactoryperformanceforaminimumoffiveyears.MonitoringandMaintenancePeriodStartDate:Oncethemitigationprojecthasbeeninstalled,pleaseprovidemewithawrittenconfirmationofinstallationpursuanttothefinalapprovedmitigationplan.ThedatetheCityreceivesthiswrittenconfirmationwillconstitutethebeginningoftheminimum5-yearmaintenanceandmonitoringperiod.WetlandInformationNeededonFinalPlatMap:RMCSection4-3-05063requiresthatallcriticalareasandtheirbuffersbeplacedineitheraNativeGrowthProtectionTractorNativeGrowthProtectionEasement.Pleasesendallrequiredinformationtomyattention.Feelfreetocontactmeat425-430-7219ifyouhaveanyquestionsregardingthisletter.Sincerely,RoleTimmonsSeniorPlannercc:SewellWetlandConsulting,BiologistRohiniNair,PlanReviewerFileNo.LUA14-000093
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