HomeMy WebLinkAboutHARRISONS ADDITION BLOCK 96 REPLAT LOT 8 - Filed GC-GENERAL CORRESPONDENCE - 2005-04-26Transportation Services
Engineering Department
City of Fort Collins
October 18, 1999
Tim Ortiz, Loan Production Office Manager
is' National Bank of Wyoming
4730 S. College Ave., Suite 203
Fort Collins, CO 80525
Re: Release of Letter of Credit No. 17021
Dear Mr. Ortiz:
Enclosed please find the original Letter of Credit for the account of Frank Finley Cook
and Myrtle Street Apartments issued by 1st National Bank of Wyoming, Fort Collins, CO,
in the amount of S10,223.00 for the completion of unfinished site concrete and asphalt
paving. Iance Newlin released this letter of credit on October 14, 1999.
If you have any questions, please feel free to contact me at (970) 221-6605.
Sincerely,
Ann Marie Ferry
Customer Service Representative
Enclosure
_ I forth Co rruL, • PO. 1-'SO • Fcrt F,,11in�, CCU R0�3^-(��BU • (9-0J "'?1-66U�
Inc.
Construction Management • General Contracting • Consulting
JUNE 25A999
CITY OF FT. COLLINS
ENGINEERING DEPARTMENT
MR. LANCE NEWLIN
281 NORTH COLLEGE
FT. COLLINS, CO. 80522
RE: LETTER OF CREDIT FOR UNFINISHED WORK AT MYRTLE STREET
VILLAGE APARTMENTS.
LANCE,
PLEASE FIND ENCLOSED A LETTER OF CREDIT FOR THE UNFINISHED
SITE CONCRETE AND ASPHALT PAVING. THE PURPOSE OF THIS LETTER OF
CREDIT 1S TO ACQUIRE A TEMPORARY CERTIFICATE_ OF OCCUPANCY FOR
THE APARTMENTS UNTIL THIS WORK IS COMPLETED. THE SOLE REASON
THIS WORK IS NOT COMPLETED IS THAT US WEST HAS A POLE IN THE
ALLEY THAT THEY HAVE TO RELOCATE AND TO DATE, HAS NOT BEEN
RELOCATED. HOPEFULLY THIS IS DONE IN THE NEXT 30-60 DAYS..
THE LETTER OF CREDIT HAS BEEN CALCULATED AS FOLLOWS:
WORK TO BE COMPLETED
1. ROLLOVER CURB AT ALLEY 150 L.F. @ $13/LF= $1,950.00
2. 11/2'° ASPHALT OVERLAY AT ALLEY
300 YDS. @ $4.2= $1,260.00
3. 2" FABIC OVERLAY ON MYRTLE STREET- DEVELOPER TO PAY
HALF OF TOTAL COST
232' X 50' WIDE = 11,600 SQ. FT.
DEVELOPER SHARE IS 5,800 SQ. FT. (645 SQ. YDS.)
645 SQ. YD. @ $5.60 = $3,612.00
TOTAL COST
AMOUNT TO BE ESCROWED- COST PLUS 50%=
ab,2SLL.uU
$10,223.00
SP FULLY,
Z:54
DONALD D. SMITH
P.O. Box 9555 • Fort Collins, CO 80525 9 (970) 221-9145
OF WYOMING
FIRST NATIONAL BANK
"Dedicated to uncompromising excellence"
Irrevocable Standby Letter of Credit No. 17021 .
(Replaces Letter of Credit 17021 dated June 30, 1999)
July 1, 1999
To:
City of Fort Collins
Engineering Department
Attn: Lance Newlin
281 North College
Fort Collins, CO 80.522
We hereby open our irrevocable letter No. 17021 in favor of the City of Fort Collins, available by
your drafts at sight on us for a sum not to exceeding $10,223.00 (Ten Thousand Two Hundred
Twenty Three and 00/100 Dollars) for the account of Frank Finley Cook and the Myrtle Street
Apartments for improvements detailed in attached "Exhibit A" available by your draft(s) at sight
on us marked drawn under "First National Bank of Wyoming irrevocable letter of credit No.
17021, dated July 1, 1999 " when accompanied by the following documents:
Beneficiary Affidavit signed by the General Manager or his authorized agent certifying the
following:
A. The developer has failed to perform or is in default thereunder and payment of said
Letter has been demanded from the City of Fort Collins.
B. Copy(s) of documentation to substantiate the amount of the drawing.
Partial drawings are ;permitted.
This letter of credit sets forth in full the terms of our undertaking and such undertaking shall not
in any way be modified amended or amplified by reference to any document, instrument, or
agreement referred to herein or in which this letter of credit relates.
4730 S. College, Suite 203 • Ft. Collins, Colorado 80525 • (970) 282-8413 • FAX (970) 282-8945
Except so far as otherwise expressly stated herein, this credit is subject the Uniform Customs and
Practice for Documentary Credits (1993 Revision) International Chamber of Commerce
Publication No. 500.
First National Bank of Wyoming
4730 South College, Suit 203
Fort Collins, CO 80525
(970)282-8413
First National Bank of Wyoming
Tim Ortiz
Loan Production Office Manager
Fort Collins