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HomeMy WebLinkAboutPROSPECT INDUSTRIAL PARK REPLAT OF LOT 19 - Filed DCP-DEV. CONSTRUCTION PERMIT - 2008-06-12DEVELOPMENT CONSTRUCTION PERMIT Permit Number: 07-12 Issuance Date: Project Name: Prospect Industrial Park Lot 19 aka Holsinger Drywall Project Location: 2572 Mid oint Drive Fort Collins CO 80525 Permittee: Brett Brown Dohn Construction 2642 Midpoint Drive Fort Collins CO 80525 City and developer contacts: See attached Exhibit "A" for names and phone numbers of all contact persons for this project. Fees: Permit Application Fee (paid at the time of application) $ 200.00 maid) Construction Inspection Fee (paid prior to issuance of this permit) $ 1243.401c,L=o v/ay/a>> Total $ 1,443.40 Development Bond or other approved security: Amount of security deposited with the City to guarantee the completion of all public improvements to be constructed as shown on the approved plans for the development. $ 12,192.60 Form of security deposited with the City: L O- 6 " C l{AS, & 0 PERFORMANCE REQUIREMENTS OF THIS PERMIT: 1. The Permittee shall be responsible to require their Project Engineer to incorporate into all design drawings and specifications the certification of all materials testing by an Engineer. The Permittee shall have an Engineer prepare revised design drawings and secure City approval for all revisions to the Utility Plans and related documents. The Permittee shall have an Engineer represent, as required by the City in the Development Agreement, that the improvements are constructed in conformance with the approved Utility Plans and the standards and specifications of the City. The Permittee shall provide "as -constructed" plans prepared by an Engineer prior to the City's acceptance of the constructed public improvements. (All references above to the terms "Project Engineer" and "Engineer" shall mean a Professional Engineer licensed in Colorado.) 2. All contractors who perform work on this project must be bonded and licensed in conformance with City requirements. 04/25/2007 15:04 970-622-7615 CHASE PAGE 03/07 JPMorganChase O JPMnrpn 0. Dank N.A. alb JPMwvn Tn ry Scrvim (Mahal Trade Servim 10410 Hithland MawDnn Tampa. FT. 33610 APR 240 2007 OUR L/C NO.= CTCS-325871 THIS LETTER OF CREDIT FOR CANCELLATION, THIS LETTER OF CREDIT SHALL AUTOMATICALLY TERMINATE. IT IS UNDERSTOOD THAT THE AMOUNT OF THIS LETTER OF CREDIT MAY BE REDUCED AS PUBLIC IMPROVEMENTS ARE CONSTRUCTED AND ACCEPTED BY THE CITY. AS COMPONENTS OF THE INFRASTRUCTURE ARE SATISFACTORILY COMPLETED IN ACCORDANCE WITH APPROVED UTILITY PLANS, THE VALUE OF THE COMPLETED COMPONENTS MAY BE ESTABLISHED FROM THE DEVELOPMENT CONSTRUCTION PERMIT WORKSHEET FOR DETERMINING COSTS OF INFRASTRUCTURE CONSTRUCTION AND INSPECTION FEES, WHEREUPON THE AMOUNT OF THIS LETTER OF CREDIT MAY BE REDUCED BY THE VALUE OF THE COMPLETED COMPONENT(S), UPON EXECUTION OF A "REQUEST FOR AMENDMENT TO LETTER OF CREDIT" IN THE FORM ATTACHED HERETO AS EXHIBIT 2. THIS LETTER OF CREDIT SHALL BE SUBJECT TO THE UNIFORM COMMERCIAL CODE AS IN EFFECT IN THE STATE OF COLORADO, AND, TO THE EXTENT NOT INCONSISTENT WITH THE TERMS OF THIS LETTER OF CREDIT AND THE UNIFORM COMMERCIAL CODE, THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS, 1993 REVISION, ICC PUBLICATION NUMBER 500. THIS LETTER OF CREDIT WILL BE AUTOMATICALLY EXTENDED WITHOUT AMENDMENTS FOR ONE YEAR FROM THE PRESENT, AND EACH FUTURE, EXPIRATION DATE THEREOF, UNLESS ISSUER DELIVERS WRITTEN NOTICE AT LEAST SIXTY (60) DAYS PRIOR TO ANY SUCH EXPIRATION DATE TO THE CITY OF FORT COLLINS OF ITS INTENT NOT TO EXTEND THIS LETTER OF CREDIT. ANY SUCH NOTICE SHALL BE IN WRITING AND SHALL BE DELIVERED WITH AN ACKNOWLEDGED RECEIPT, EITHER IN HAND OR BY CERTIFIED MAIL. ANY REQUESTS FOR AMENDMENTS TO THIS LETTER OF CREDIT SHALL BE MADE IN THE FORM OF EXHIBIT 2 HERETO. THE CITY MAY AT ANY TIME REQUEST THAT THE BANK AMEND THIS LETTER OF CREDIT BY SUBMITTING TO THE BANK A FULLY EXECUTED CERTIFICATE IN THE FORM OF EXHIBIT 2. THE BANK MAY THEREAFTER PROMPTLY ISSUE AN AMENDMENT TO THE LETTER OF CREDIT, SUBJECT TO APPLICANT'S AND THE BANK'S AGREEMENT TO ISSUE SAID AMENDMENT, CORRESPONDING TO THE CHANGE OR CHANGES REQUESTED IN SUCH CERTIFICATE. THIS LETTER OF CREDIT IS NOT TRANSFERABLE. I Nn16 Tamow-r:w. 04/25/2007 15:04 970-622-7615 CHASE PAGE 04/07 ipmorganCnase 0 dPM1lrr6on Char honk N.A. ,.0 IPmwpn Tmmury Scmica cilniml TrA& StMw 10420 Highland Mamm Dtivi Trmpu. F1. 33610 APR 24, 2007 OUR L/C NO.: CTCS-325871 THIS LETTER OF CREDIT SETS FORTH IN FULL OUR.UNDERTAKING, AND SUCH UNDERTAKING SHALL NOT IN ANY WAY BE MODIFIED, AMENDED, AMPLIFIED OR LIMITED BY REFERENCE TO ANY DOCUMENT, INSTRUMENT OR AGREEMENT REFERRED TO HEREIN, EXCEPT ONLY THE CERTIFICATE AND DRAFT(S) REFERRED TO HEREIN; AND ANY SUCH REFERENCE SHALL NOT BE DEEMED TO INCORPORATE HEREIN By REFERENCE ANY DOCUMENT, INSTRUMENT OR AGREEMENT EXCEPT FOR SUCH CERTIFICATE AND DRAFT(S). WE ENGAGE WITH YOU THAT DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT WILL BE DULY HONORED ON PRESENTATION IF PRESENTED AT OUR OFFICE AT 300 SOUTH RIVERSIDE PLAZA, MAIL CODE IL1-0236, STANDBY LETTER OF CREDIT UNIT, CHICAGO, IL 60606-0236 ON OR BEFORE THE EXPIRATION DATE OF THIS LETTER OF CREDIT. THE ORIGINAL LETTER OF CREDIT MUST ACCOMPANY THE DOCUMENTS PRESENTED FOR PAYMENT HEREUNDER FOR ENDORSEMENT. PLEASE ADDRESS ALL CORRESPONDENCE REGARDING THIS LETTER OF CREDIT TO THE ATTENTION OF THE STANDBY LETTER OF CREDIT UNIT, 300 S. RIVERSIDE PLAZA, MAIL CODE IL1-0236, CHICAGO, IL 60606-0236, INCLUDING THE LETTER OF CREDIT NUMBER MENTIONED ABOVE. FOR TELEPHONE ASSISTANCE, PLEASE CONTACT THE STANDBY CLIENT SERVICE UNIT AT 1-900-634-1969, SELECT OPTION 1, AND HAVE THIS LETTER OF CREDIT NUMBER AVAILABLE. SINCEREL Jvi NAME: vleTbMp �tR,J TITLE: AsStsnar vwc FASSID04 17n%l5 T.mmisn Cw 04/25/2007 15:04 970-622-7615 CHASE PAGE 05/07 JPM1TnrA m Chm Ronk N.A. C/o JpM6rCm T—ury R-Ac- Olobal Track Sdmico 10420 HiOland Mama Driw Tampa, P1. 33610 JPMorganChase 0 EXHIBIT 1 CERTIFICATE APR 24, 2007 OUR L/C NO.: CTCS-325871 THE CITY OF FORT COLLINS HEREBY CERTIFIES AS FOLLOWS WITH RESPECT TO THE CERTAIN IRREVOCABLE LETTER OF CREDIT NO. CTCS-325871 DATED APRIL 24, 2007, ESTABLISHED IN FAVOR OF THE CITY OF FORT COLLINS, COLORADO (THE "LETTER OF CREDIT"): (A) HE (SHE) IS AUTHORIZED TO EXECUTE THIS CERTIFICATE OF BEHALF OF THE CITY OF FORT COLLINS; (a) (I) THE APPLICANT/DEVELOPER IS IN DEFAULT UNDER THE TERMS OF THE DEVELOPMENT AGREEMENT AND/OR THE DEVELOPMENT CONSTRUCTION PERMIT; OR (II) NOTICE HAS BEEN RECEIVED FROM JPMORGAN CHASE BANK, N.A. THAT LETTER OF CREDIT NO. CTCS-325871 WILL NOT BE EXTENDED FOR A FURTHER PERIOD, AND HESS LAND LLC HAS NOT REPLACED THIS LETTER OF CREDIT OR PROVIDED OTHER ACCEPTABLE SECURITY. (C) THE SUM OF $ , WHICH IS THE AMOUNT OF THE DRAFT PRESENTED WITH THIS CERTIFICATE, IS THE AMOUNT CURRENTLY DUE TO THE CITY OF FORT COLLINS FROM HESS LAND LLC; (0) THE AMOUNT OF THE ACCOMPANYING DRAFT TOGETHER WITH ALL PREVIOUS DRAWS UNDER THE LETTER OF CREDIT DO NOT EXCEED IN THE AGGREGATE $ ; AND (E) THE LETTER OF CREDIT HAS NOT EXPIRED. IN WITNESS WHEREOF, THE UNDERSIGNED HAS EXECUTED THIS CERTIFICATE OF BEHALF OF THE CITY OF FORT COLLINS THIS DAY OF CITY OF PORT COLLINS, COLORADO A MUNICIPAL CORPORATION BY: [NAME AND TITLE] 170916 T,rt ,� NACr 04/25/2007 15:04 970-622-7615 CHASE PAGE 06/07 .IPI1SorRan C'Mw &n114 �.A vn 1P�4oRan "ilwuury Sarviea Global Tm& Sarvid a IQ420 HiglilaW Manor DHwa TaMpA FT. 11610 jpMorganChase dCol EXHIBIT 2 APR 24, 2007 OUR L/C NO.: CTCS-325871 REQUEST FOR AMENDMENT OR RELEASE OF LETTER OF CREDIT NO. CTCS-325871 THE CITY OF FORT COLLINS CERTIFIES THAT THE PERSON SIGNING BELOW IS AUTHORIZED TO EXECUTE THIS REQUEST FOR AMENDMENT OR RELEASE OF LETTER OF CREDIT ON BEHALF OF THE CITY OF FORT COLLINS, AND FURTHER CERTIFIES WITH RESPECT TO THE PROVISIONS CONTAINED IN THE DEVELOPMENT CONSTRUCTION PERMIT DATED , AND/OR THE DEVELOPMENT AGREEMENT DATED BETWEEN THE CITY OF FORT COLLINS (BENEFICIARY) AND HESS LAND LLC (DEVELOPER), THE FOLLOWING: [CHECK APPLICABLE BOXES.] - THE LETTER OF CREDIT IS TO BE REDUCED TO U.S. $, - THE EXPIRATION DATE OF THE LETTER OF CREDIT IS REVISED TO BE - THE 60 DAY AUTOMATIC ONE YEAR RENEWAL PROVISION CONTAINED IN THE LETTER OF CREDIT IS NO LONGER IN EFFECT. - RELEASE ORIGINAL LETTER OF CREDIT UPON RECEIPT OF SEPARATE REPLACEMENT`N MAINTENANCE LETTER OF CREDIT IN THE AMOUNT OF VALUE). - RELEASE LETTER OF CREDIT. IN WITNESS WHEREOF, THE UNDERSIGNED HAS EXECUTED THIS CERTIFICATE ON BEHALF OF THE CITY OF FORT COLLINS THIS DAY OF CITY OF FORT COLLINS, COLORADO 170916 Tim-,-Cvmr i 04/25/2007 15:04 970-622-7615 CHASE PAGE 07/07 JPMorganChase g1 JPMaremi 0Bank. N.A. va 7pMorpm l'aruary Smvica olohal Trade krviuea 104201liphloAd Manor naive 'Pampa FI.31610 A COLORADO MUNICIPAL CORPORATION BY: [NAME AND TITLEI 1,*16 T w.i.aCCNer OUR L/C NO.: APR 24, 2007 CTCS-325871 AUTHORIZED SIGNATURE 3. Construction time restrictions: 4. The applicant understands that additional permits maybe required for this development project and the applicant shall secure those permits directly from the issuing departments. 5. This permit, along with a complete set of all approved plans and documents for this project (utility plans, site plan, landscape plan, development agreement, soils report, pavement design, traffic study, drainage report, plat easements and any other official documents), shall be kept on the development site available for use by City staff doing inspections. 6. Permit Expiration (in accordance with Section 29-12 of the Transitional Land Use Regulations or Section 2.6.3(K) of the Land Use Code, whichever is applicable): a. If construction has not begun within sixty (60) days from the date of issuance of this permit, this permit shall expire and the applicant will forfeit the permit fee paid for this permit, whereupon the applicant must re -apply for a new permit. b. In addition, this permit shall expire one year from the date of issuance. The applicant may apply for an extension by reapplication at least two weeks prior to the expiration date. Such application shall contain information sufficient to justify the granting of the extension. An extension may be granted for up to six months. 7. Building permits and certificates of occupancy will only be issued when all conditions contained in the Development Agreement and Sections 3.3.2(C) and (D) of the Land Use Code or Sections 29- 678 and 29-679 of the Transitional Land Use Regulations, whichever is applicable, are met. If the Development Agreement does not specify times for completion of public improvements, or if there is no Development Agreement, then the improvement requirements specified in Section 24-95 of the City Code shall apply, which provides that construction of all improvements shall be required prior to the time of issuance of the first building permit. 8. Acceptance by the City of the public improvements shall be after (1) final inspection has been conducted by the City; (2) punch list items from the final inspection are completed and accepted by the City; and (3) required certifications from the licensed professional engineer that improvements are completed to City standards, specifications and approved Utility Plans; and the "as -constructed" plans have been received and accepted by the City. 9. The warranty on street improvements is for five (5) years from the date of acceptance by the City of the completed improvements, in accordance with Sections 29-13 and 29-14 of the Transitional Land Use Regulations and/or Sections 2.2.3(C)(3)(g), 3.3.1(C)(2), and 3.3.2(C) of the Land Use Code, as applicable. 10. The City Erosion Control Inspector must be notified at least twenty-four (24) hours prior to any planned construction on this project. All required perimeter silt fencing and other erosion/sediment control best management practices (BMP's) that can be installed prior to construction must be in place and inspected by the City Erosion Control Inspector before any land disturbing activity begins. 11. No work (including grading) shall be started in State Highway right-of-way until a permit is issued by the Colorado Department of Transportation to allow such work to begin. 12. Other conditions: Permittee's acknowledgment signature: By signing this permit I acknowledges that I am acting with the knowledge, consent, and authority of the owners of the property (including all owners having legal or equitable interest in the real property, as defined in Section 1-2 of the City Code; and including common areas legally connected to or associated with the property which is the subject of this application) without whose consent and authority the requested action could not lawfully be accomplished. Pursuant to said authority, I hereby permit City officials to enter upon the property for purposes of inspection and, if necessary, to enter upon such property to perform work required of the applicant if the applicant were to fail to perform the required work. I also acknowledge that I have read this permit document with all its requirements and conditions, and I agree to all of the terms and conditio tated in this permit. Applicant/Project Manager' s Signat Date: �7 Approvalforissuance: City Engineer Appro al: Date: 41a EXHIBIT "A" DEVELOPMENT PROJECT CONTACT PERSONS Project Name: Holsinger Drywall Name, address and numbers City Staff Contact Persons: Development Engineer: Randy Maizland 281 N. College Avenue, Fort Collins, Co 80524 (970)416-2292 rmaizland@fcgov.com Construction Inspector: Lance Newlin 281 N. College Avenue, Fort Collins, Co 80524 (970)416-2011 Current Planner: Steve Olt 281 N. College Avenue, Fort Collins, Co 80524 (970)221-6314 Water Utilities Engineer: Roger Buffington 700 Wood Street, Fort Collins, Co 80521 (970) 221-6700 Erosion Control Inspector: Jay Barber 700 Wood Street, Fort Collins, Co 80521 (970)224-6063 Traffic Operations: Eric Bracke 625 Ninth Street, Fort Collins, Co 80524 (970) 224-6062 Street closures: Syl Mireles 625 Ninth Street, Fort Collins, Co 80524 (970) 221-6815 Transportation Planning: David Averill 210 E. Olive, Fort Collins, Co 80524 (970)416-2643 4of6 Forestry: Tim Buchanan 281 N. College, Fort Collins, Co 80524 (970) 221-6361 Light and Power: Alan Rutz 700 Wood Street, Fort Collins, Co 80521 (970)224-6153 Developer's Contact Persons: Project Manager: Brett Brown, Dohn Construction 2642 Midpoint Drive Fort Collins, CO 80525 (970) 490-1855 cel (970) 566-1.2Jz�- Id9� Fax (970) 490-6093 bbrowngdohnconstruction.com Owner: Patrick A. Hess Holsinger Drywall 1312 Blue Spruce, 96 Fort Collins, Co 80524 (970)498-9080 cel (970) 566-1893 Fax (970) 498-9083 holsingerdrywallka gwest.net Developer: Patrick A. Hess Hess Land, LLC 1312 Blue Spruce,#6 Fort Collins, Co 80524 (970) 498-9080 cel (970) 566-1893 Fax (970) 498-9083 hol singerdrvwall(cegwest.net 5 of 6 Project Engineer: Interwest Consulting Group Michael Oberlander, PE 1218 W. Ash Windsor, CO 80550 (970) 674-3300 eel (970) 631-2641 Fax (970) 674-3303 moberlanderg interwestera. com Architect: Donald Brookshire Eastpoint Studio 552 Kinnikinnik Ct., Windsor, CO 80550 (970) 218-1132 Fax (970) 206-0183 General Contractor: Brett Brown, Dohn Construction 2642 Midpoint Drive Fort Collins, CO 80525 (970) 490-1855 eel (970) 566-1254 Fax (970) 490-6093 bbrownna dohnconstruction.com 6of6 F DW K O W? a0 wK Hi K F c.> S F- N LL z H 2 7 S W a W J m U J_ a N QZ aw U>O J K ma a- J W �a 000000 0000000000 O N N 0 0 0 0 0 0 0 0 0 0 0 0 0 00u74'![00 O N i00000u1 �O �!I V)M M� fA fA r�r� N fy��lfl 64619 ^ fo 000000 0000000000 OOM MMM O OOOOOM0�f1 �f1N f9 f9 fA r�r�O rN N�MM fA MfH fAO 000oo0 O o 0 0 0 0 0000000000 o 0 o o 0 o o 0 o o 0 0 0 0 0 0 fR fHN 0 o W 0 0 0 0 0 0 0 9 fA f9MOfA fN Nr MM f H w 6o N fA fA (9 1H fia x oS0000 f O f D 0 0 0 0 AO0 Y7 fA G W O CL CL 6U O O R— N O 2x Li li>->UU W W O O O O O O O O O O O O O O O O O O O O O C/ D o 0 0 0 o 0 o fA Vi 640 Qi fANO 00 � � � CO S x x x x 2 x ii u: LLUU4UU Ui.i J J J w W W w w W w 000000 000000 cM OfOO MO ofnrf»ofa Vk 64 60� v000vv 0 00 f fA fA 1A fA bB 0000000 00000coo ooc�ovio � fA 000�n000 0 L6 O N O M 0 fA 7V,�(9 N Vi ui >i ii Ll uLI: J(n J J.J Nfn Y 3 a N E j � C y Ul C E ca V ; N N m a U 0 a w m 0 O z J J 3 z Z W 2 W O It IL a Fw- S a m W W 0 0 S 0 W 0 J U z w to O H w W W Z J sJ S iQ z O . U z wp az y0 ?ym F 0 U OLL z N ZLLI _ � � U 7 W C CO U Z W N LU L� LL m a. z �t Q Qo >w � F IL DEVELOPMENT CONSTRUCTION PERMIT APPLICATION (1/16/06) For City use only: Application Number: Application Date: 5 D Permit application fee: S _ 200.00 INSTRUCTIONS: 1. Complete this form (some questions may not apply to you) and attach all necessary documents and submit to the Development Engineering Section of the City. 2. If you have any questions contact the Development Engineer, at 221-6605. 3. Submit the Application and pay the Application Fee at the fee at the Engineering counter at 281 N. College Avenue. PROJECT INFORMATION: Project Name (as approved b City)' �IntSW�� A, t_L. Project A.K.A. (Marketing name if different from Project Name): Project Location: 7 p�T (�D ILi45 (J� `�`�SZS i Property Owner(At the timethis permit issuap}�ce): Individual Name: T2tc K 1t35 - Company Name : 1 -5 " 1114- �Fv Address: 13i2 BLOC 5fce�ct (c xa Phone number(s): Office: 970 - 9-908a Cellphone: �7c - $7010- W 3 Fax numb r: 17c-- 99$' 9083 Email: 1'1o%57n er r � .Fail nef Applicant/Project Manager (The primary contact person for all matters regarding this project, and the person responsible for all matters referencing "the Developer" in the Development Agreement for this project): . � wad Individual Name: Company Name : �µ* �A"5�� x-rtoo Address: T�)r 'fa?-T r LLro- (IL 2b5,Z Phone number(s): Office: K70 - 00- 1KS- Cellphone: 47e - 511. - 12SY' FI- axnumber: `lc y90 • b&93 Email: p�vo N' Jol, c�xstr�cl a., .car" 04/25/2007 15:04 970-622-7615 CHASE PAGE 02/07 JPMorganChase JPMorgm C:h+ * Rnok R.A- dolhh1nrpnTre ufy SamiM 010bW Track Scrvkc imo Highland Maw flriNv Tamp¢, Fl. 3SF10 APR 24, 2007 OUR L/C NO.: CTCS-325871 IRREVOCABLE STANDBY LETTER OF CREDIT NO. CTCS-325871 BENEFICIARY: CITY OF FORT COLLINS ENGINEERING DEPARTMENT 281.14. COLLEGE AVE. FORT COLLINS, CO 80524 DEAR SIRS: WE HEREBY ESTABLISH, AT THE REQUEST AND FOR THE ACCOUNT OF HESS LAND LLC, 6031 COTTONWOOD SHORES, WELLINGTON, CO 80549, IN YOUR FAVOR AS BENEFICIARY, OUR IRREVOCABLE LETTER OF CREDIT NO. CTCS-325871, IN THE AMOUNT OF TWELVE THOUSAND ONE HUNDRED NINETY TWO AND 60/100 U.S. DOLLARS (U.S. $12,192.60) (AS MORE FULLY DESCRIBED BELOW), EFFECTIVE IMMEDIATELY AND EXPIRING AT THE CLOSE OF BANKING BUSINESS ON APRIL 20, 2006, AT OUR OFFICE AT 300 SOUTH RIVERSIDE PLAZA, MAIL CODE IL1-0236, CHICAGO, IL 60606-0236, STANDBY LETTER OF CREDIT UNIT. THIS LETTER OF CREDIT IS INTENDED FOR THE FUNDING REQUIRED FOR THE HESS LAND LLC, DEVELOPMENT PROJECT ("DEVELOPMENT PROJECT") FOR THE ASSURANCE OF THE COMPLETION OF THE CONSTRUCTION AND THE MAINTENANCE AND REPAIR OF THE PUBLIC INFRASTRUCTURE IN CONNECTION WITH THE AFORESAID DEVELOPMENT PROJECT AND ITS ASSOCIATED DEVELOPMENT AGREEMENT AND DEVELOPMENT CONSTRUCTION PERMIT. FUNDS UNDER THIS LETTER OF CREDIT ARE AVAILABLE TO YOU FOR ONE OR MORE DRAWINGS PRIOR TO THE CLOSE OF BUSINESS ON APRIL 20, 2008, AGAINST SIGHT DRAFTS IN AN AGGREGATE CUMULATIVE AMOUNT NOT TO EXCEED U.S. $12,192.60, DATED THE DATE OF PRESENTMENT, DRAWN ON OUR OFFICE REFERRED TO ABOVE, REFERRING THEREON TO THE NUMBER OF THIS LETTER OF CREDIT AND ACCOMPANIED BY YOUR WRITTEN CERTIFICATE SIGNED BY YOU AND ACKNOWLEDGED AS THEREIN PROVIDED IN THE FORM OF EXHIBIT 1 HERETO. PRESENTATION OF SUCH DRAFT AND CERTIFICATE SHALL BE MADE AT OUR OFFICE REFERRED TO ABOVE. UPON THE EARLIER OF (I) OUR HONORING YOUR DRAFT(S) TOTALING V.S. $12,192.60, IN THE AGGREGATE PRESENTED ON OR BEFORE THIS LETTER OF CREDIT EXPIRES PURSUANT TO THE TERMS HEREIN OR (II) THE SURRENDER TO US BY YOU OF Il 16 13mmlm Cnac