HomeMy WebLinkAboutSTONE RIDGE PUD THIRD - Filed GC-GENERAL CORRESPONDENCE - 2005-07-15April 26, 1994
Dave Stringer
Engineering Services
City of Fort Collins
281 N. College Ave.
Fort Collins, CO ¢ '
RE: Erosion Control Guarantee
Stone Ridge Filing Three
Dear Dave:
On April 25, 1994 the Planning and Zoning Board approved the
Final Plan for Stone Ridge Filing Three. The approved Erosion
Control Plan involves property in and adjacent to Filing Three
and includes .a 50.2 acre area. Overlot grading is scheduled to
begin May 9, 1994.
Attached is an Irrevocable Letter of Credit in the amount of
$37,650 which serves as the erosion control guarantee for the
overlot grading. This amount was calculated by multiplying
the acreage (50.2 ac.) times the City -approved revegetation
amount ($500/ac.) times 1.5. Also attached is an erosion control
access permit to the property to be used in the unlikely event
that the City of Fort Collins needs to exercise this guarantee.
Please contact me immediately if there is anything else you
believe is necessary prior to work beginning May 9, 1994.
Again, I appreciate your cooperation regarding the completion
of improvements at Stone Ridge.
Sincerely yours,
Lester M. K lan
LMK/vv
cc: Mike Hertzig
Basil Hamdan
Paul Eckman
1060 Reef Ftirt Caoilit�s, Colorado 80525 303/226-681.9
First
Interstate
Bank
April 25, 1994
First Interstate Bank
of South Fort Collins
2900 SOlith College Ave.
Fort Collins, Colorado B0525
(303) 223-3535
IRREVOCABLE LETTER OF CREDIT NUMBER 34
BENEFICIARY:
CITY OF FORT COLLINS
300 LAPORTE AVENUE
FORT COLLINS, CO 80521
AMOUNT: $37,650.00
ACCOUNTEE:
THE KAPLAN COMPANY, INC.
1060 SAILORS REEF
FORT COLLINS, CO 80525
EXPIRATION DATE: OCTOBER 25, 1994
We hereby issue this Irrevocable Letter of Credit which is
available against drafts at sight drawn on First Interstate
Bank of South Fort Collins. Drafts drawn under this Letter
of Credit must be endorsed hereon and bear the clause "Drawn
under First Interstate Bank of South Fort Collins, Letter of.
Credit Number 34, dated April 25, 1994" accompanied by the
original Letter of Credit and the following document:
(a.)
A signed statement from you reading
as follows:
This Letter of Credit Number 34 is
being called
due to the lack of performance
regarding
the
City of Fort Collins approved Erosion
Control Plan
for Stone Ridge P.U.D., Filing 3.
Except
so far as otherwise expressly stated,
this Letter
of
Credit
is subject to the Uniform Customs
& Practice
for
Documentary
Credits (1983 revision) Internal
Chamber
of
Commerce
Publications No. 400.
Sincerely
Mik Laren
Vice President
MM/to
Locally Owned and Operated
Anindependent franchisee of First lnlerstale Bancorp.
EROSION CONTROL ACCESS PERMIT
The Kaplan Company, Inc., a Colorado corporation, is the
Developer of a property known as Stone Ridge Village Filing
Three in the City of Fort Collins. The City has approved an
Erosion Control Plan for approximately 50.2 acres involving
this property and the adjacent area. The City has also approved
an Irrevocable Letter of Credit with the City of Fort Collins
as beneficiary to guarantee the proper installation and
maintenance of the erosion control measures shown on the
approved Plan.
The Developer does hereby grant to the City of Fort Collins
permission to access the area covered by this Erosion Control
Plan in accordance with its rights pursuant to the Irrevocable
Letter of Credit. This permit shall run with the property
and be binding upon any other future developers.
DEVELOPER:
THE KAPLAN COMPANY, INC.,
a Colorado corporation
By
ester M. Kaplan, Pre dent