HomeMy WebLinkAbout780729.tiff RESOLUTION
RE: ACCEPTANCE OF REPLACEMENT LETTER OF CREDIT IN THE AMOUNT
OF $50,000. 00 TENDERED BY DAVID KNAUS JR. AND KATHERINE
KNAUS FOR KNAUS SUBDIVISION, 2ND AND 3RD FILINGS, SAID
LETTER TO EXPIRE JUNE 2, 1979.
WHEREAS, the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, the Board of County Commissioners have received
a letter of credit in the amount of $50, 000. 00 tendered by the
developers of Knaus Subdivision, 2nd and 3rd filings to insure
compliance with an improvements agreement on the said Knaus
Subdivision, 2nd and 3rd filings, and
WHEREAS, said letter of credit in the amount of $50, 000. 00
would replace a previous letter of credit held by the Board of
County Commissioners in the amount of $103, 000. 00, and
WHEREAS, the Board of County Commissioners of Weld County,
Colorado deem it advisable and in the best interest of Weld County,
Colorado to accept said letter of credit in the sum of $50, 000. 00
for the 2nd and 3rd filings of the Knaus Subdivision.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Com-
missioners of Weld County, Colorado that the letter of credit in
the sum of $50, 000. 00 tendered on behalf of the developers of the
Knaus Subdivision, be and hereby is, accepted.
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 5th day of
June, A.D. , 1978.
�. 7 �J in.v `J 4- •. BOARD OF COUNTY COMMISSIONERS
ATTEST:‘11 1.?u t�Si ;TQl,J.1M.'arl WELD COUNTY, COLORADO
Weld County Clerk and Recorder l -z„ L--z--).
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C ED AS TO FORM: r ) -y..),,,�,,,_ �,,¢�w.h_
County Atto ey
Date Presented: June 12 , 1978
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Greeley national Bank i JUN 1 797ft '�
WELD COUNTY
Sr: niTh Engineering Department
Trrf,.. .ahlta totter o" ( ,(I.L
:k!. 13
May 31, 1978
ATE or COLORADO
County of Weld
COUNTY Or WLLU I
State of Colorado 1,;; 1 . t�, ih, ;..,•, ,,f the, boded
of County
i n W J. 1978
�! :;n•: . . / 3e/0).
COUNTY CL ERK A ID RECORDER
By k' Deputy
Fifty thousand and no/
100
a
3 days after and ,. ,
of
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� 3 r� June 2 , 1979 ,,T❑ 1 '_ 1 I _ i1�o:
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NO. 13 (revised) , `; 1 flp May 31, 1978
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1li frotfor of r acl is for tl,,a
r, '.UL of Dave Knaus Jr. and Katherine Knaus:iuDisburumcHL ° unir L' L r,c.i ' , i_ Crctiit to Taysubdivision improvements ie; grading; paving, fire hydrants ,
su
rvey and monuments, street signs and engineering.
f 1 t _ cL � 9.t 1stre; C ,
cl or Knaus Subdivision 2nd and 3rd Filings
4 . pcci lt{I. ; L <.{:: .` f :c r..l :l: ' i 'I 1i('a ; J the
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-�tt" U.. C t notation
Post Office Box 1098 • Greeley,Colorado 80631 • Phone (303) 356-1234
,.) . 0t; I':_ is and Cc,ri.ii _ i_cn-: Thj.:. kyttea c: ',_
Credit shall not be transfer inl . tit: shall he c;ov_ rnad by
tiro laws of the State of Colorado, :i.ncludicaa the Uniform
Commercial Cods as in effect in that State. This Letter of
Credit is tdO? subject to the Uniform f u ,toms and Practice
for Documentary Credits .
Obligation of a ° nef.• The - .el y Nahional 'E .
nt-
e. <; . -Co with ' ha drd‘,:crs, endorser:: , -.III' ac f.:r.i.th holdrmr, of.drafts drawn under and. in Comnl ranee : i n the tethc termsof condi-
tions of this Letter_ of Credit that O1oy 'ational Bank, will
duly honor such thefts UPOII pin . nt.9tHnn Lc thiF office, .
! ; - is President
•
•
.
• STANDBY LETTER OF CREDIT
APPLICATION AND AGREEMENT
To: Greeley National Bank Date May 31, 1978
P. 0. Box 1098
Greeley, Colorado 80631 No. 13 (Revised)
The undersigned hereby requests you to open an IRREVOCABLE STANDBY LETTER OF CREDIT
on the following terms and conditions:
In favor of: County of Weld - State of Colorado
(Name and Address of Beneficiary)
For Account of: Dave Knaus Jr and Kathe;ine Knaus
(Name and Address of Customer)
For any sum or sums up to an aggregate amount of:
Fifty Thousand and No/100 Dollars $50 ,000 .00
(Words and Figures)
Available by drafts at 3 days after sight drawn on Greeley National Bank
(Time) (Name of Bank or Other Drawee
This Letter of Credit relates to the following described real property:
Knaus Subdivision, Weld County, Colorado
Disbursements will be made under this Letter of Credit to pay for: Subdivision improve-
ments including grading; paving, fire hydrants , street signs and boxes
Documents to be required: (1 ) Presentation of the Letter of Credit for notation.
Other terms and conditions : Secured by Deed of Trust in the amount of
$103,000 covering all remaining lots and Knaus Farm as described in
Deed of Trust which is to be extended in connection herewith to June
2, 1979. Fee $500. 00 (1%)
Drafts must be negotiated or presented to drawee on or before June 2 , 1979
and must bear the reference "DRAWN ON GREELEY NATIONAL BANK LETTER OF CREDIT NO. 13
DATED May 31, 1978 , "
This Letter of Credit shall NOT be transferable.
Special Instructions: This letter replaces letter of credit No. 13 issued
June 3 , 1975 and all extensions thereto.
THIS APPLICATION AND AGREEMENT IS SUBJECT TO THE TERMS ON THE REVERSE SIDE HEREOF. THE
ACCEPTANCE OF THIS APPLICATION DOES NOT CONSTITUTE AN AGREEMENT BY GREELEY NATIONAL BANK
TO ISSUE A LETTER OF CREDIT ON THE ABOVE OR ANY OTHER TERMS.
(Name of Applicant)
BY e -
(Signature and Title SA-
By /(CZ- rtir �zr�Lv
(Signature and Title)
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