HomeMy WebLinkAboutS_LOC_3088147_M&M_Wetland_LUA06-009TRANSMITTALOFFINANCIALINSTRUMENTTOFINANCEDEPARTMENTJuly6,2007TYPEOFINSTRUMENT:LetterofCredit(LOC)1.ProjectName:ShyCreekPlat,LLC,LUA06-0092.Applicant:ConnorHomesCompany—I-C/ot!‘t1Jfl-,f23.DollarAmount:$95,000.00BankofAmericaAccountNumber30881474.Purpose:ImprovementSuretyDeviceforShyCreekPlat5.Requiredby:DevelopmentServices6.StaffContact/Phone:Amber,ext72627.NotifyStaffby:May?,20128.ExpirationDate:June7,20129Keywordsforindexing:ShyCreekPlat,LUA06-009Pleasetransmitonlyone(1)instrumentpersheet.Forreleases,pleaseprovideamemorequestingrelease.Attachacopyofthetransmittalsheettofacilitatelocatingtheinstrument.Pleaseallowfive(5)workingdaysforreleaseofaninstrument.Ifyouneeditsooner,pleasespecifyonyourmemorandumhowquicklyyouneedtherelease.H:\Division.s\Develop.ser\Const.ser\AMBER\Assignrnentoffunds\ShyCreekLOC.doc
-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
IunderstandthatyouareinreceiptoftheoriginalIrrevocableStandbyLetterofCredit(BankofAmerica#3088147)inthe,amountof$95,000fortheShyCreekPlat.ThisletterVofcreditlistsCityofRentonasbeneficiaryfortheapplicantConnerHomes.TheoriginalVletterofcreditwassenttoyoubyConnerHomesrequestingrelease.However,theCityVVofRentonhasVdeternhinedthatweinadvertentlyauthorizedthereleaseofthe.’VVV
VVIrrevocableStandbyLetterofCreditprematurely.We.requestthatthe.releaseofthisV
Vletterofcreditbehalted,andthattheoriginalletterofcreditbe.returnedVtotheCity.ofVV:VVRenton.•VV
VVVVVVIVVV VNovember23,2011DepartmentofCommunityandEconomicDevelopmentAlexPietsch,Administrator’EunsonBaeV
VVVVBankofAmerica,N.A.V1000WestTempleStreet7thFloor,CA9-705-07-05VVLosAngeles,CA90012-1514VVVIAFacsimile.:(213)457-8841DearEunsonBae:SUBJECT:REQUESTTOHALTRELEASEOFIRREVOCABLESTANDBYLEHEROFV:VCREDITNUMBER:3088147FORSHYCREEKPLAT(PERMITLUAO6-009)VVVVThissuretydeviceisV
for
the
mon
i
to
r
i
ng
of
c
e
rt
ai
n
wet
lnd
mitigationimpróvementandVrequ
i
r
e
s
aminimumo
f
5year
s
of
monito
r
i
ng
p
r
i
or
toreleas
e
.
A
s
of
th
e
dVateofthisVVVletter,atleastoneyearremainsbeforethesuretycouldbereleased,andthenonlyV•VVup
on
p
rope
r
completion
as
determinedbytheCityofRentonPlanningDivision.VVPleasereturntheOriginalIrrevocableStandbyLetterofCredit(#3088147)to:CityofRentonPlanningDivisionattn:RocaleTimmons,AssociatePlannerVVVVVVVV1055SouthGradyWay,6thfloorVV
VVV:
-.VVVVVVVV
VRenton,WA98057.V:VVVVVVVV
VVThankyouforyourassistanceinthisinatterPleasecontactmeVat
.(425430-7286ifyouhaveanyquestions.V•:V
VVVVVV
VVVVRentonCityHall•1055SouthGradyWay•Renton,Washington9057•rentonwa.govVV.
Eunso0RaePage2Of2November23201jCSincereiy,726#d11uaJenniferHenning,icpInningManagerccChipVincentPlanningDirectorRocaleflmmonsAssociatePlannerCarrieOlsonPlanReviewKayrenKittrick,PlanReviewSupeniorConnerHomesCompanyBellevueWA980o4EmailedtoC
CarrieOlsonFrom:(Sent:To:Cc:Subject:Attachments:JenniferT.HenningWednesday,November23,20112:53PM‘RobRRocaleTimmons;CarrieOlson;ChipVincent;KayrenK.KittrickShyCreekWetlandMitigationBankofAmericaLetter.pdfHelloRob,Aswediscussedtoday,wehaverequestedthatBankofAmericareturntheoriginalLetterofCreditforwetlandmitigationmonitoringtotheCityofRenton,untilthe5yearsofmonitoringissuccessfullycomp’eted.ThereisaminimumofoneyearleftbeforetheCitycanreleasethesuretydevice.PleasecontinuetosendtheMitigationMonitoringreportstoRocaleTimmons.Thankyou.JenniferHenning,AICPPlanningManagerCityofRentonPlanningDivision1055SouthGradyWayRenton,WA98057425.430.72861
DenisLawMayorNovember18,2011ConnerHomesCo846108thAveNEBellevueWA98004SUBJECT:RELEASEOFLETTEROFCREDITFORRESTORATIONIMPROVEMENTSUNDERPERMIT#LUAO6-009FORSHYCREEKPLATTheCityofRenton,DepartmentofCommunityandEconomicDevelopmentherebyreleasesmaintenancebondnumber#3088147intheamountof$95,000.Ifyouhaveanyquestions,pleasecontactmeat(425)430-7235.Sincerely,9%4FZ&CarrieK.OlsonDevelopmentServices,PlanReviewEnclosure:OriginalLetterofCreditCc:BankofAmerica,N.A.1000W.TempleStreet7thFloor,CA9-705-07-05LosAngeles,CA90012-1514EmailedTo:jmurphree@inscodico.comI:\M-BondRel/permitLUAD6-009.doc/colsonDepartmentofCommunityandEconomicDevelopmentAlexPietsch,Administrator(+(+lRentonCityHall•1055SouthGradyWay•Renton,Washington98057•rentonwa.gov
BankofAmericaBANKOFAMERICA-CONFIDENTIALPAGE:1DATE:JUNE29,2007IRREVOCABLESTANDBYLETTEROFCREDITNUMBER:3088147ISSUINGBANKBANKOFAMERICA,N.A.1000W.TEMPLESTREET7THFLOOR,CA9-705-07-05LOSANGELES,CA90012-1514BENEFICIARYAPPLICANTCITYOFRENTONCONNERHOMESCOMPANY1055S.GRADYWAY846108THAVENERENTONW.A98056-.BELLEVUE,..WA.9..8O04-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.THEDATEONWHICHTHERESHALLBEADRAWINGOFTHEFUTJLFACEAMOUNTOFTHISLETTEROFCREDIT;OR3.THEDATEONWHICHTHEBENEFICIARYSHALLHAVEDELIVEREDTOUSAVALIDCERTIFICATEOFCANCELLATIONOFTHELETTEROFCREDITANDACCOMPANIEDBYTHEORIGINALOFTHISLETTEROFCREDITFORCANCELLATION.ORIGINAL05-17-1486B7-2000
BankofAmericaBANKOFAMERICA-CONFIDENTIALPAGE:2THISISANINTEGRALPARTOFLETTEROFCREDITNLTNEER:3088147WEHEREBYIRREVOCABLYAUTHORIZEYOUTODRAWONUSBYDELIVERINGTOUSINACCORDANCEWITHTHETERMSANDCONDITIONSHEREOF,YOURSIGHTDRAFTORDRAFTS,WITHEACHSUCHDRAFTACCOMPANIEDBYYOURSIGNEDANDDATEDSTATEMENTDETAILINGTHEREASONFORTHEDRAW-DOWN,INAGGREGATEAMOUNTNOTEXCEEDINGTHEAVAILABLEAMOUNT.MORETHANONEDRAFTMAYBEPRESENTEDSOLONGASTHEENTIREAMOUNTOFSUCHDRAFTSPRESENTEDINCONNECTIONTHEREWITHDOESNOTEXCEEDTHEAMOUNTHEREUNDER.EACHDRAFTANDCERTIFICATEPRESENTEDHER-BONDERMUSTBEDATEDTHEDATEOF---•--
-PRESENTATIONTOTHEBANK.IFADRAWINGINRESPECTOFPAYMENTISMADEBYYOUHEREUNDERPRIORTO9:00A.M.(PACIFICSTANDARDTIME)ONABUSINESSDAY,ANDPROVIDEDTHATSUCHDRAWINGANDTHESTATEMENTPRESENTEDINCONNECTIONTHEREWITHCONFORMTOTHETERMSANDCONDITIONSHEREOF,PAYMENTSHALLBEMADETOYOUONTHEAMOUNTSPECIFIED,INIMMEDIATELYAVAILABLEFUNDSONTHENEXTBUSINESSDAY.IFADRAWINGINRESPECTOFPAYMENTISMADEBYYOUHEREUNDERAFTER9:00A.M.(PACIFICSTANDARDTIME)ONABUSINESSDAY,ANDPROVIDEDTHATSUCHDRAWINGANDTHESTATEMENTPRESENTEDINCONNECTIONTHEREWITHCONFORMTOTHETERMSANDCONDITIONSHEREOF,PAYMENTSHALLBEMADETOYOUONTHEAMOUNTSPECIFIED,INIMMEDIATELYAVAILABLEFUNDS,ONTHESECONDBUSINESSDAY.WEHEREBYENGAGEWITHYOUTHATDRAFT(S)DRAWNUNDERANDINCOMPLIANCEWITHTHETERMSOFTHISLETTEROFCREDITWILLBEDULYHONOREDUPONPRESENTATIONTOUSAT1000WESTTEMPLESTREET,7THFLOOR,MAILCODE:CA9-705-07-05,LOSANGELES,CA90012ATTN:STANDBYLETTEROFCREDITDEPARTMENTONORBEFORETHEEXPIRATIONDATE.THISLETTEROFCREDITISSUBJECTTOTHEUNIFORMCUSTOMSANDPRACTICEFORDOCUMENTARYCREDITSOFTHEINTERNATIONALCHAMBEROFCOMMERCE,PUBLICATIONNO.500(THE‘UNIFORMCUSTOMS”)ANDASTOMATTERSNOTGOVERNEDBYUCP500,SHALLBEGOVERNEDBYANDCONSTRUEDINACCORDANCEWITHTHELAWSOFTHESTATEOFWASHINGTON,INCLUDINGWITHOUTLIMITATIONTHEUNIFORMCOMMERCIALCODEOFTHESTATEOFWASHINGTON(THEUUCC).INTHEEVENTOFACONFLICTBETWEENTHEUCP500ANDTHEUCC,THELAWSOFTHESTATEOFWASHINGTONSHALLCONTROL.ORIGINAL05-17-1486B7-2000
EañkofAmericaBANKOFAMERICA-CONFIDENTIALPAGE:3THISISANINTEGRALPARTOFLETTEROFCREDITNUMBER:3088147ANYTHINGTOTHECONTRARYINARTICLE45OFTHEUCP500NOTWITHSTANDING,THISLETTEROFCREDITISINTENDEDTOREMAININFULLFORCEANDEFFECTUNTILITEXPIRESINACCORDANCEWITHITSTERMS.IFYOUREQUIREANYASSISTANCEORHAVEANYQUESTIONSREGARDINGTHISTRANSACTION,PLEASECALL213-481-7845.7AUTHORIZEDSIGNATURETHISDOCUMENTCONSISTSOF3PAGE(S).BolivarCarrilloORIGINAL05-17-148GB7-2000
StacyTuckerFrom:StacyTuckerSent:Tuesday,June24,20149:22AMTo:JenniferI.Henning;VanessaDolbeeCc:LaureenM.NicolaySubject:ShyCreekLUAO6-009WearestillholdingaLetterofCreditintheamountof$95,000fortheabovereferencedproject.Recordsindicatethatin2011theLOCwasinadvertentlyreleasedandthenrequestedbackfromtheBankofAmerica,statingthatwehadonemoreyearofmonitoring.Hasthemonitoringbeencompleted,canthisLOCbereleased?%iPlanningTechnicianCityofRentonCEDIPlanningDivision/TechnicalServices1055SouthGradyWay6thFloorIRenton,WA9$057Phone:(425)430-7282IFax:(425)430-7300Istucker@rentonwa.govPleaseconsidertheenvironmentbeforeprintingthisemail1
U)k()2-oo/1worQiJLD1A4.pV’-(3t1t/Q7(ftLa)çrc&VkL4Lti—Pvc&