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RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR ON -SITE IMPROVEMENTS, AUTHORIZE CHAIR TO SIGN, AND
ACCEPT COLLATERAL FOR USE BY SPECIAL REVIEW #1676 - VESTAS BLADES
AMERICA, INC.
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, on December 10, 2008, the Weld County Board of Commissioners approved
Use by Special Review #1676, for Vestas Blades America, Inc, Attn: Kjaer Jakobsen, 11140
Eastman Park Drive, Windsor, Colorado 80550 / Regional Transportation District, Attn: Susan
Altes, 1600 Blake Street, Denver, Colorado 80202 / City of Brighton, Attn: John Bramble, 22 South
4th Avenue, Brighton, Colorado 80601, for a Use Permitted as a Use by Right, Accessory Use, or
Use by Special Review in the 1-3 (Industrial) Zone District, including research, repairing,
manufacturing, fabricating, processing, assembling, or storage nature (Industrial manufacturing
facility - Vestas) in the A (Agricultural) Zone District, on the following described real estate, being
more particularly described as follows:
Part of the NW1/4, lying east of the Union Pacific
Railroad; part of the N1/2 SW1/4 east of the Railroad
also part of the NE1/4 SW1/4; and a portion of Lot B
of Amended Recorded Exemption #1058, being part
of the NE1/4 SW1/4, together with a portion of the
NW1/4 SE1/4 of Section 29, Township 1 North,
Range 66 West of 6th P.M., Weld County, Colorado
WHEREAS, pursuant to certain Conditions of Approval, the Board has been presented with
an Improvements Agreement According to Policy Regarding Collateral for On -Site Improvements
between the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, and Vestas Blades America, Inc., with terms and conditions being
as stated in said agreement, and
WHEREAS, the Board has been presented with Irrevocable Standby Letter of Credit
No. 445-02-0038089 from Nordea Bank Danmark A/S, Trade Finance, Strandgade 3,
P.O. Box 850, DK-0900, Copenhagen C. Denmark, in the amount of $8,499,191.70, and
WHEREAS, after review, the Board deems it advisable to approve said agreement and
accept said Irrevocable Standby Letter of Credit as stated above, copies of which are attached
hereto and incorporated herein by reference.
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2009-1586
PL1989
IMPROVEMENTS AGREEMENT - VESTAS BLADES AMERICA, INC.
PAGE 2
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Improvements Agreement According to Policy Regarding Collateral for
On -Site Improvements between the County of Weld, State of Colorado, by and through the Board
of County Commissioners of Weld County, and Vestas Blades America, Inc., be, and hereby is,
approved.
BE IT FURTHER RESOLVED that Irrevocable Standby Letter of Credit No. 445-02-
0038089 from Nordea Bank Danmark A/S, Trade Finance, Strandgade 3, P.O. Box 850, DK-0900,
Copenhagen C. Denmark, in the amount of $8,499,191.70, be and hereby is, accepted.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 13th day of July, A.D., 2009.
ATTEST:
Weld County Clerk to the
BY:" _
D
APP
y ClerLcjo the Board
FORM:
ounty Attorney
BOARD OF COU Y COMMISSIONERS
WELD CT ••LORADO
illiam F. Garcia, Chair
DougleRadema her, Pro-Tem
Seal P. Conway
arbKirkmeyer
David E. Long
Date of signature 71)31001
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2009-1586
PL1989
COLORADO
MEMORANDUM
TO: Board of County Commissioners
DATE: July 13, 2009
FROM: Kim Ogle, Planning ServicesieO ,
SUBJECT: Acceptance of Irrevocable Letter of Credit
Vestas Blades America, Inc.
Brighton Campus (USR-1676)
P V 48
On July 8, 2009, the Department of Planning Services received a facsimile of Irrevocable Letter
of Credit No. 445-02-0038089 for Vestas Blades America, Inc. located at 11140 Eastman Park
Drive, Windsor, Colorado 80550 for the on -site improvements associated with the Vestas Blades
and Nacelles Brighton facility, Case Number USR-1676, in the amount of eight million four
hundred ninety-nine thousand one hundred ninety-one and 70/100s ($ 8,499,191.70) dollars.
Items covered under Irrevocable Letter of Credit No. 445-02-0038089 include:
Site Landscaping $ 772,793.00
Hardscape and Paving, Lighting, Signage and Traffic Control $ 7,726,398.73
Total Cost of Improvements $ 8,499,191.70
The Weld County Attorney, the Department of Public Works and the Department of Planning
Services, have determined that the amount of the agreement will be sufficient to complete the
work required for on -site improvements for the Vestas Brighton Facility (USR-1676) and the
Department of Planning Services recommends acceptance of Irrevocable Letter of Credit No.
445-02-0038089.
2009-1586
IMPROVEMENTS AGREEMENT ACCORDING TO
POLICY REGARDING COLLATERAL FOR ON -SITE IMPROVEMENTS
VESTAS BLADES AMERICA, INC. - USR-I676
THIS AGREEMENT, made and entered into this 13th day of July ,2009,
by and between the County of Weld, State of Colorado, acting through its Board of County
Commissioners, hereinafter referred to as "County," and Vestas Blades America, Inc.,
hereinafter referred to as "Vestas."
WITNESSEI'1I:
WHEREAS, Vestas is the owner of, or has a controlling interest in, the following described
property in the County of Weld, Colorado, to be annexed into the City of Brighton on July 20,
2009, effective August 7, 2009:
See Exhibit "A" attached hereto and incorporated herein by
reference, hereinafter referred to as "the Property," and
WHEREAS, Vestas has acquired from County a Site Specific Development Plan and Usc
by Special Review Permit #1676 for a Use Permitted as a Use -by -Right, Accessory Use, or Use -
by -Special Review in the 1-3 (Industrial) Zone District, Including Research, Repairing,
Manufacturing, Fabricating, Processing, Assembling, or Storage Nature (Industrial
Manufacturing Facility —Vestas) in the A (Agricultural) Zone District, and
WHEREAS, Vestas acknowledges that the issuance of USR-1676 is conditional upon
Vestas's performance of the on -site improvements which are described in this Agreement, and
WHEREAS, Vestas acknowledges that it may not engage in any activity related to the
businesses described above until said improvements have been completed.
NOW, THEREFORE, IN CONSIDERATION OF the foregoing and of the promises and
covenants contained herein, the parties hereto promise, covenant and agree as follows:
A. Required On -Site Improvements:
1.0 Landscaping: Vestas shall at its own expense, plant, install and maintain the
landscaping described on Exhibit B, which is attached hereto and incorporated herein by
reference.
2.0 I lardscape and Paving, Lighting, and Signage and Traffic Control: Vestas shall,
at its own expense, construct the hardscape and paving at the Blades Facility and Nacelle
Facility, and install and maintain the site lighting and traffic control described on Exhibit C,
which is attached hereto and incorporated herein by reference.
3.0 Timing of Improvements: Vestas shall complete all of the on -site improvements
required herein by September 1, 2010.
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B. General Requirements:
1.0 Engineering Services: Vestas shall furnish, at its own expense, all engineering
services in connection with the design and construction of the improvements listed on Exhibits B
and C.
The required engineering services shall be performed by a Professional
Engineer and Land Surveyor registered in the State of Colorado, and shall
conform to the standards and criteria established by County for public
improvements.
1.2 The required engineering services shall consist of, but not be limited to,
surveys, designs, plans and profiles, estimates, construction supervision,
and the submission of necessary documents to County.
1.3 Vestas shall furnish construction drawings for the road improvements on
public rights -of -way or easements and all improvements interior on the
Property for approval prior to the letting of any construction contract.
2.0 Rights -of -way and Easements: Before commencing the construction of any
improvements herein agreed upon for public rights -of -way or easements, Vestas shall acquire, at
its own expense, good and sufficient rights -of -way and easements on all lands and facilities
traversed by the proposed improvements. All such rights -of -way and easements used for the
construction of roads to be accepted by County shall be conveyed to it and the documents of
conveyance shall be furnished to County for recording.
3.0 Construction: Vestas shall furnish and install, at its own expense, the
improvements listed on Exhibits B and C. County may, at its option, grant an extension of the
time of completion stated herein upon application by Vestas.
3.1 Said construction shall be in strict conformance to the plans and drawings
approved by County and the specifications adopted by County.
3.2 Vestas shall employ, at its own expense, a qualified testing company
previously approved by County to perform all testing of materials or
construction; and shall furnish copies of test results to County.
3.3 At all times during said construction, County shall have the right to test
and inspect, or to require testing and inspection of material and work, at
Vestas' expense. Any material or work not conforming to the approved
plans and specifications shall be removed and replaced to the satisfaction
of County at Vestas' expense.
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4.0 Release of Liability: Vestas shall indemnify and hold harmless the County from
any and all liability loss and damage they may suffer as a result of all suits, actions or claims of
every nature and description caused by, arising from, or on account of said design and
construction of improvements, and pay any and all judgments rendered against the County on
account of any such suit, action or claim, together with all reasonable expenses and attorney fees
incurred by them in defending such suit, action or claim whether the liability, loss or damage is
caused by, or arises out of the negligence of the County, or its officers, agents, employees, or
otherwise, except for the liability, loss, or damage arising from the intentional torts or the gross
negligence of the County or their employees while acting within the scope of their employment.
All contractors and other employees engaged in construction of the improvements shall maintain
adequate worker's compensation insurance and public liability insurance coverage, and shall
operate in strict accordance with the laws and regulations of the State of Colorado governing
occupational safety and health.
5.0 Warranty of Road Improvements: Vestas shall warranty all improvements to
public rights -of -way, including all privately created and maintained roads or rights -of -way, or
easements for a period of one (I) year. The warranty period shall begin only after written
acceptance of the improvement(s).
6.0 Acceptance of Improvements by County: Upon compliance with the following
procedures by Vestas, the improvements shall be deemed accepted by County.
6.1 If desired by County, portions of the improvements may be placed in
service when completed according to the schedule herein stated, but such
use and operation shall not constitute an acceptance of said portions.
6.2 Upon completion of the construction of the on -site improvements required
herein, and the filing of a Statement of Substantial Compliance, Vestas(s)
may request in writing that County inspect the improvements and
recommend partial approval. Not sooner than nine months after partial
acceptance, County shall, upon request by Vestas, inspect the subject
improvements, and notify Vestas of any deficiencies. County shall
reinspect the improvements after notification from Vestas that any
deficiencies have been corrected. If County finds that the improvements
are constructed according to County's standards, full acceptance shall
occur.
7.0 General Requirements for Collateral:
7.1 The value of all collateral submitted to Weld County to guarantee
completion of the improvements listed in Exhibits B and C must be
equivalent to One -Hundred percent (100%) of the value of the
improvements as shown in this Agreement.
7.2 Collateral shall be in the form of an irrevocable letter of credit (LOC) in
an amount equivalent to (100%) of the total value of the improvements set
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forth in the Improvements Agreement.
8.0 Request for Release of Collateral: Prior to release of collateral for the entire
project or a portion thereof, Vestas must present with the letter requesting release of collateral a
Statement of Substantial Compliance that the project or a portion of the project has been
completed in substantial compliance with approved plans and specifications.
8.1 "As -built" plans shall be submitted at the time the letter requesting release
of collateral is submitted. The County Engineer shall certify that the
project "as -built" is in substantial compliance with the plans and
specifications as approved, or that any material deviations have received
prior written acceptance from County Engineer.
8.2 For certain improvements identified by County, the request for release of
collateral shall be accompanied by "Warranty Collateral" in the amount of
fifteen percent (15%) of the value of the improvements as shown in this
Agreement excluding improvements fully accepted for maintenance by the
responsible governmental entity, special district or utility company. The
warranty collateral shall be released to Vestas following the expiration of
the warranty period upon final written acceptance by County.
9.0. Successors and Assigns: This Agreement shall be binding upon the heirs,
executors, personal representatives, successors and assigns of Vestas, and upon recording by
County, shall be deemed a covenant running with the land herein described.
10.0 City of Brighton - Successor in Interest. The Parties recognize and agree that
from and after the effective date of the annexation of the Vestas Property by the City of
Brighton, the City shall be a successor in interest to Weld County as to all matters set forth in
this Improvements Agreement, including without limitation, receipt of dedications of public
rights -of -way as provided in Section 2.0; release of liability, indemnity and hold harmless as
provided in Section 4.0; warranties as provided in Section 5.0; beneficiary of the collateral
evidenced by the irrevocable letter of credit as provided in Subsection 7.0; and, for the
enforcement of all terms of this Improvement Agreement, as if it were a party hereto and in
accordance with the Site Development Agreement between Vestas and Brighton, dated January
14, 2009, as amended.
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
on the day and yar first abpve wyitten.
ATTEST:
Weld County Clerk to the Boar
COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
Wim Garcia, Chairman
JUL 1 3 2009
VESTAS BLADES AMERICA, INC.,
By:
Ole reben B yrup Jakobsen, President
Date:
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, 2009.
02as2 -45f'f
EXHIBIT "A"
Vestas Property Description
LEGAL DESCRIPTION
BEING A PORTION OF SECTION 29, TOWNSHIP 1 NORTH, RANGE 66 WEST OF THE 6TH
PRINCIPAL MERIDIAN, WELD COUNTY COLORADO, AND BEING ALL OF THAT PROPERTY
DESCRIBED AT RECEPTION NUMBERS 3157040, 3157041, 3157042, 3157043, 3560380 AND
3560383 AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BASIS OF BEARINGS THE NORTH LINE OF THE SOUTHWEST ONE -QUARTER OF SECTION 29,
TOWNSHIP 1 NORTH, RANGE 66 WEST OF THE 6TH PRINCIPAL MERIDIAN,
MONUMENTED AT THE WEST ONE -QUARTER CORNER BY A RECOVERED AND
ACCEPTED 3-1/4 INCH ALUMINUM CAP IN RANGE BOX STAMPED "STANTEC, T1N,
R66W, S30/S29, 2007, PLS 25942" AND AT THE CENTER 1/4 CORNER OF SAID SECTION
29 BY A RECOVERED AND ACCEPTED 1-1/4 INCH AXLE, WITH THE LINE CONSIDERED
TO BEAR N89°32'31"E, WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO.
COMMENCING AT THE WEST 1/4 CORNER OF SAID SECTION 29;
THENCE N89°32'31"E ALONG THE EAST -WEST CENTERLINE OF SAID SECTION 29 A DISTANCE
OF 551.89 FEET TO THE POINT OF INTERSECTION OF SAID EAST -WEST CENTERLINE AND THE
EASTERLY RIGHT-OF-WAY OF THE UNION PACIFIC RAILWAY PARCEL, AND THE POINT OF
BEGINNING;
THENCE ALONG SAID EASTERLY RIGHT-OF-WAY AND ALONG THE ARC OF A CURVE TO THE
LEFT WHOSE CENTER BEARS N76°43'34"W, HAVING A RADIUS OF 11,664.61 FEET, A CENTRAL
ANGLE OF 12°56'59", AN ARC LENGTH OF 2,636.35 FEET; THE CHORD OF WHICH BEARS
N06°47'57"E, A CHORD DISTANCE OF 2,630.75 FEET TO THE INTERSECTION OF THE SOUTH
RIGHT-OF-WAY LINE OF WELD COUNTY ROAD 6 (60' RIGHT-OF-WAY) AND SAID EASTERLY
RIGHT-OF-WAY OF THE UNION PACIFIC RAILWAY;
THENCE N89°32'46"E ALONG A LINE 30 FEET SOUTH OF AND PARALLEL TO (AS MEASURED AT
RIGHT ANGLES) THE NORTH LINE OF THE NORTHWEST ONE -QUARTER OF SAID SECTION 29, A
DISTANCE OF 1,765.18 FEET TO A POINT ON THE EAST LINE OF SAID NORTHWEST 1/4 OF
SECTION 29;
THENCE S00°29'35"E ALONG SAID EAST LINE OF THE NORTHWEST 1/4, A DISTANCE OF 1,289.71
FEET TO THE C -N 1/16TH CORNER OF SAID SECTION 29;
THENCE S00°28'52"E CONTINUING ALONG SAID EAST LINE OF THE NORTHWEST 1/4, A
DISTANCE OF 1,319.83 FEET TO THE CENTER 1/4 CORNER OF SAID SECTION 29;
THENCE THE FOLLOWING SEVEN (7) COURSES ACROSS THE SOUTH ONE HALF OF SAID
SECTION 29:
1. THENCE N89°32'32"E A DISTANCE OF 264.05 FEET;
2. THENCE N89°32'32"E, A DISTANCE OF 13.68 FEET;
3. THENCE S00°31'41"E, A DISTANCE OF 854.31 FEET;
4. THENCE S89°32'50"W, A DISTANCE OF 1,035.82 FEET;
5. THENCE S00°32'56"E, A DISTANCE OF 55.64 FEET;
6. THENCE S00°32'56"E, A DISTANCE OF 410.08 FEET;
7. THENCE S89°34'12"W, A DISTANCE OF 1,664.34 FEET TO A POINT ON SAID EASTERLY
RIGHT-OF-WAY OF THE UNION PACIFIC RAILWAY PARCEL;
THENCE N13°15'09"E ALONG SAID EASTERLY RIGHT-OF-WAY OF THE UNION PACIFIC RAILWAY
PARCEL, A DISTANCE OF 1,357.81 FEET TO THE POINT OF BEGINNING.
CONTAINING A CALCULATED AREA OF 7,778,882 SQUARE FEET, OR 178.579 ACRES, MORE OR
LESS.
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I, CHARLES BERESFORD, A PROFESSIONAL LAND SURVEYOR IN THE STATE OF COLORADO,
DO HEREBY STATE THAT THE ABOVE LEGAL DESCRIPTION WAS PREPARED UNDER MY
RESPONSIBLE CHARGE, AND ON THE BASIS OF MY KNOWLEDGE, INFORMATION AND BELIEF,
IS CORRECT.
Original signed and stamped December 5, 2008
CHARLES BERESFORD, PROFESSIONAL LAND SURVEYOR
COLORADO REGISTRATION No. 35583
FOR AND ON BEHALF OF NOLTE ASSOCIATES, INC.
8000 S. CHESTER STREET, SUITE 200
CENTENNIAL, COLORADO 80112
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Vestas Wind Systems
EXHIBIT "B"
Landscaping
Opinion of Probable Cost 6/19/09
Quantity Unit Cost Total
Nacelle Facility
Gray Concrete (4" thk.), sawcut joints typ
Gray Concrete, sandscape texture (4" thk.),
sawcut joints typ
CIP Concrete Wall
CIP Concrete Steps
River Cobble
Steel Edger
Deciduous Trees 2.5" cal.
Ornamental Trees 2" cal.
Evergreen Trees (10-12)
Evergreen Trees (8-12)
Evergreen Trees (6-8)
Shrubs / Ornamental Grasses 5 gal.
Perennials and Groundcover
Fir Fiber Mulch
Native Seed- drill seed - straw mulch (irrigated)
Native Seed -drill seed - straw mulch (non irrigated)
Blade Facility
Gray Concrete (6" thk.), sawcut joints typ
Gray Concrete, sandscape texture (4" thk.),
sawcut joints typ
CIP Concrete Wall
Crusher Fines
6" CIP Concrete Curb
River Cobble
Steel Edger
Deciduous Trees 2.5" cal.
Ornamental Trees 2" cal.
Evergreen Trees (10-12')
Evergreen Trees ( 8-10')
Evergreent Trees (6-8')
Shrubs / Ornamental Grasses 5 gal.
Ornamental Grasses 1 gal.
Perennials and Groundcover
Fir Fiber Mulch
Native Seed- drill seed - straw mulch (irrigated)
7,331 SF $ 6.00 $ 43,986.00
1 08 SF $ 12.00 $ 1,296.00
146 LF $250.00 $ 36,500.00
32 LF $ 15.00 $ 480.00
5 91 SF $ 3.00 $ 1,773.00
3 61 LF $ 4.00 $ 1,444.00
57 EA $750.00 $ 42,750.00
29 EA $400.00 $ 11,600.00
11 EA $600.00 $ 6,600.00
23 EA $400.00 $ 9,200.00
23 EA $350.00 $ 8,050.00
900 EA $ 27.00 $ 24,300.00
408 EA $ 12.00 $ 4,896.00
6,812 SF $ 1.50 $ 10,218.00
1 AC $ 34,000.00 $ 36,040.00
1 AC $ 1,000.00 $ 1,000.00
Nacelle Facility Total $ 240,133.00
6,039 SF $ 6.00 $ 36,234.00
43 SF $ 12.00 $ 516.00
59 LS $250.00 $ 14,750.00
1,579 SF $ 2.50 $ 3,947.50
136 LS $ 5.00 $ 680.00
902 SF $ 3.00 $ 2,706.00
295 LS $ 4.00 $ 1,180.00
95 EA $750.00 $ 71,250.00
3 EA $400.00 $ 1,200.00
7 EA $600.00 $ 4,200.00
13 EA $400.00 $ 5,200.00
14 EA $350.00 $ 4,900.00
1,342 EA $ 27.00 $ 36,234.00
81 EA $ 12.00 $ 972.00
1,785 EA $ 12.00 $ 21,420.00
14,821 SF $ 1.50 $ 22,231.50
0 AC $ 34,000.00 $ 13,600.00
Blade Facility Total $ 241,221.00
Entry Area
Deciduous Trees 2.5" cal. 34 EA $750.00 $ 25,500.00
Deciduous Trees 1" cal. (cottonwood) 89 EA $ 85.00 $ 7,565.00
Evergreen Trees (10-12') 27 EA $600.00 $ 16,200.00
Evergreen Trees (8-10') 55 EA $400.00 $ 22,000.00
Evergreen Trees (6-8') 55 EA $350.00 $ 19,250.00
Steel Edger 1,491 LF $ 4.00 $ 5,964.00
Shrub / Ornamental Grasses 5 gal. 1,002 EA $ 27.00 $ 27,054.00
Perennials and Groundcover 1,590 EA $ 12.00 $ 19,080.00
Fir Fiber Mulch 11,494 SF $ 1.50 $ 17,241.00
Native Seed -drill seed -straw mulch (irrigated) 2 AC $34,000.00 $ 68,000.00
Native Seed -drill seed - straw mulch (non irrigated) 28 AC $1,000.00 $ 28,000.00
Drip Irrigation (for trees in non -irrigated native areas) 7,117 LF $ 5.00 $ 35,585.00
Entry Area Total $ 291,439.00
Exhibit B Total $ 772,793.00
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Vestas Wind Systems
EXHIBIT "C"
Paving, Hardscape, Lighting and Signage
Opinion of Probable Cost
Quantity Unit Cost
Blades Facility Hardscape & Paving
4" Raised Median
16" Vertical Curb and Gutter
6" Vertical Curb Head
6" Vertical Curb and Gutter
2' Wide 6" Concrete Pan
4' Wide 6" Concrete Pan
5' Wide 6" Concrete Pan
10' Wide 13.5" Concrete Pan
Concrete 4" Sidewalk
Import/Place Lightstand 6" ABC
Light Stand 9" Concrete Paving
Import/Place Roadway 10" of Class 6 ABC
Import/Place Parking 7" of Class 6 ABC
Heavy Road 10" HMA Paving
Standard Road 7" HMA Paving
Entry Road 6" HMA Paving
Exit Road 5.5" HMA Paving
Parking 3.5" HMA Paving
Striping and Pavement Marking
666 SY
635 LF
4,448 LF
3,745 LF
776 LF
145 LF
68 LF
86 LF
1,832 SF
164 CY
1,893 SY
15,927 CY
4,638 CY
2,071 SY
15,796 SY
32,865 SY
5,941 SY
22,889 SY
1 LS
Blades Facility Hardscape
$ 20.00
$ 9.30
$ 6.50
$ 8.25
$ 13.45
$ 18.55
$ 23.20
$105.00
$ 3.85
$ 20.15
$ 66.15
$ 17.55
$ 17.55
$ 24.85
$ 16.80
$ 14.20
$ 13.00
$ 8.40
$ 8 ,591.78
& Paving Total
Nacelle Facility Hardscape & Paving
6" Vertical Curb Head 2,263 LF $ 6.50
6" Vertical Curb and Gutter 670 LF $ 8.25
2' Wide 6" Concrete Pan 52 LF $ 13.45
4' Wide 6" Concrete Pan 48 LF $ 18.55
Concrete 4" Sidewalk 360 SF $ 3.85
4' Wide 13.5" Concrete Pan 52 LF $ 44.00
8' Wide 13.5" Concrete Pan 344 LF $ 88.00
10' Wide 13.5" Concrete Pan 1,274 LF $ 105.00
Import/Place Roadway 10" of Class 6 ABC 3,354 CY $ 17.55
Import/Place Parking 7" of Class 6 ABC 2,463 CY $ 17.55
Entry Road 6" HMA Paving 9,361 SY $ 14.20
Exit Road 5.5" HMA Paving 2,714 SY $ 13.00
Parking 3.5" HMA Paving 12,677 SY $ 8.40
Striping and Pavement Marking 1 LS $5 ,654.25
Nacelle Import/Place Hardstand/Lightstand 6" Class 5 10,197 CY $ 25.00
Nacelle Hard Stand 13.5" Concrete Paving 24,652 SY $ 100.00
Nacelle Light Stand 9" Concrete Paving 36,530 SY $ 55.00
Nacelle Facility Hardscape & Paving Total
Site Lighting
Type BB
Type CC
Type DD
Type LL
Type HH
Type JJ
Conduit & Power Supply
Signage & Traffic Control
Street Regulatory and Warning Signs
Pavement Striping
Monument & Wayfinding Signs
86 EA
22 EA
4 EA
2 EA
9 EA
4 EA
17,089 LF
Site Lighting Total
34 EA
1 LS
4 EA
$4 ,000.00
$4 ,000.00
$4 ,000.00
$14,000.00
$14,000.00
$14,000.00
$ 3.00
$ 250.00
$36,500.00
$ 2 ,500.00
Entry Area Total
Exhibit A Total
9
I IIIIII 11111 111111 1111 IIIIII IIII 1111111 III 111111 III IIII
6/19/09
Total
$ 13,320.00
$ 5,905.50
$ 28,912.00
$ 30,896.25
$ 10,437.20
$ 2,689.75
$ 1,577.60
$ 9,030.00
$ 7,053.20
$ 3,304.60
$125,221.95
$279,518.85
$ 81,396.90
$ 51,464.35
$265,372.80
$466,683.00
$ 77,233.00
$192,267.60
$ 8,591.78
$1,660,876.33
$ 14,709.50
$ 5,527.50
$ 699.40
$ 890.40
$ 1,386.00
$ 2,288.00
$ 30,272.00
$133,770.00
$ 58,862.70
$ 43,225.65
$132,926.20
$ 35,282.00
$106,486.80
$ 5,654.25
$254,925.00
$2,465,200.00
$2,009,150.00
$5,301,255.40
$344,000.00
$ 88,000.00
$ 16,000.00
$ 28,000.00
$126,000.00
$ 56,000.00
$ 51,267.00
$ 709,267.00
$ 8,500.00
$ 36,500.00
$ 10,000.00
$55,000.00
$ 7,726,398.73
3638596 07/27/2009 02:22P Weld County, CO
11 of 11 R 0.00 D 0.00 Steve Moreno Clerk & Recorder
Nordeall
BRUCE BARKER, WELD COUNTY ATTORNEY
WELD COUNTY GOVERNMENT
915 10TH STREET
GREELEY, COLORADO 80631, U.S.A.
Dear Sirs
Guarantee number 445-02-0038089
WELD COUNTY
TTORNEV S OFFICE
8 July 2009
Tove Frederiksen
Phone no 45 33 33 12 57
Further Reference no: 445020038089
Amount: USD 8.499.191,70
In favour of: 1.ST BOARD OF COUNTY COMMISSIONERS
OF WELD COUNTY, COLORADO
AND
2.ND CITY OF BRIGHTON, COLORADO
Enclosed please find Irrevocable Standby Letter of Credit for
Board od County Commissioners of Weld County, Colorado, which
we forward to you on behalf of Vestas Blades America Inc.
Yours faithfully
Nordea Bank, Danmark A/S
Trade Finance
Nordea Bank Danmark A/5 Postal address: Visiting address: Tel +45 33 33 33 33
Trade Finance Post Box 850 Strandgade 3 Fax +45 33 33 51 05
0900 Copenhagen C 1401 Copenhagen K
Denmark Denmark 5.W.I.F.T. NDEA DK KK
Company registration number 13521197, Copenhagen, Denmark
Nordea
Page 1 af 4
IRREVOCABLE STANDBY LETTER OF CREDIT FOR
BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO
AND CITY OF BRIGHTON
Date 8th July 2009 No. 445-02-0038089
(First Beneficiary)
BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO
915 Tenth Street
Greeley, Colorado 80631
Attn: Clerk to the Board
(Second Beneficiary)
CITY OF BRIGHTON, COLORADO
22 South 4th Avenue
Brighton, Colorado 80601
Attn: Director of Finance
(Company)
VESTAS BLADES AMERICA, INC.
11140 Eastman Park Drive
Windsor, Colorado, CO 80550
Ladies and Gentlemen:
Effective immediately, at the request of and on behalf of VESTAS BLADES AMERICA,
INC. (the "Company") we hereby issue this Letter of Credit 445-02-0038089 for
$8,499,191.70 (Eight Million Four Hundred and Ninety-nine thousand One Hundred
ninety-one 70/100 US Dollars) in favor of the Board of County Commissioners of
Weld County, Colorado, the First Beneficiary and the City of Brighton, Colorado the
Second Beneficiary. This Letter of Credit is issued to permit Company to meet the
requirements of the Use By Special Review Permit #1676 approved with condition by
resolution of the Weld County Board of County Commissioners adopted December 10, 2008
("USR Permit") for development of the property (as defined therein, the "Property") and the
Site Development Agreement and the First Amendment thereto between the Company and the
City of Brighton dated (hereinafter "Site Development Agreement").
This amount may be drawn on at our office located at Nordea Bank Danmark A/S, Trade
Finance, Strandgade 3, P.O. Box 850, DK-0900 Copenhagen C, Denmark.
We hereby undertake to honor your sight draft drawn on us bearing upon its face the
Baran Bank Danmark Na Posh Wars. Vumng address' Talephorte e�33333333
45 33 33 33 33
at
Trade Faunal PBar 650 SaaWa ga3 TW
0900 Copenhagen C 1401 Kokbellavn C Tehn 27543 NDEA OK
amen Denmwn3w! F. T UNIB OK KK
company regeaaon roster ,3322,97. CoQ.nhpn. Osman,.
NordeoW
Page 2 of 4
clause: "Drawn under Nordea Bank Danmark A/S Letter of Credit Number 445-02-
0038089, dated 8th July 2009", when accompanied by the following:
I . The original of this Letter of Credit and any subsequent amendments, if any. (The
Beneficiary submitting this original Letter of Credit may be assumed by the issuer to be
the Beneficiary holding rights to such Letter of Credit at the time of such presentation.)
2. If presented by Weld County, the First Beneficiary, an original of Weld County's
statement purportedly manually signed by a member of the Board of County
Commissioners of Weld County, Colorado stating one or more of the following:
a. "The Board of County Commissioners of Weld County, Colorado
hereby certifies that it is entitled to draw US Dollars (Written
Amount of Withdrawal) ($_J under Nordea Bank Danmark A/S, Letter
of Credit Number 445-02-0038089 dated 8th July 2009 because
(Name of Company) has defaulted on its obligations under the
USR Permit, by (State Nature of Default).
b. "The Board of County Commissioners of Weld County, Colorado
hereby certifies that it is entitled to draw US Dollars (Written
Amount of Withdrawal) (S ) under Nordea Bank Danmark A/S, Letter of
Credit Number 445-02-0038089 dated 8t' July 2009 because
(Name of Company) has not, to the satisfaction of the Board of
County Commissioners of Weld County, Colorado, within sixty (60) days
of the expiration date of this Letter of Credit replaced or renewed this
Letter of Credit."
3. If presented by the City of Brighton, the Second Beneficiary, by an original
signed written statement by an authorized representative of the City of Brighton
addressed to us stating:
The amount represented by the draft accompanying this statement
is the amount required to be paid to Beneficiary on account of the default
of Company under the USR Permit and/or the Site Development
Agreement
4. The statements from either Weld County Board of Commissions provided in
Paragraph 2 above or the statement from an authorized representative of the City of
Brighton provided in Paragraph 3 above are acceptable if presented in the form of a
Resolution formally adopted by the Board of County Commissioners of Weld County,
Colorado or by signature of the representative of the City evidencing the authority of the
representative. Additionally, a copy of the statements may be submitted by facsimile
transmission or by electronic mail, if said transmission source can be verified by us.
Nordea Bank Danmark NS Postal address: Visiting address'. Telephone +45 33 33 33 33
Trade Finance Post Box 850 Sfrandgade 3 Tebiax +45 33 33 51 05
0900 Copenhagen C 1401 Kobenhavn C Telex 27543 NDEA DK
Denmark DenmarkS WI F.T UNIB DK KK
company regat'alon number 13522197. Copenhagen Denmark
Nordea
Page 3 of 4
5. It is a condition of this Irrevocable Letter of Credit that it be considered
automatically extended without amendment for additional periods of one year from the
present or any
future expiration date unless we notify you, the Beneficiary, in writing, not less than
ninety (90) days before such date that we elect not to extend this Letter of Credit for such
additional term. This notice will be sent to the address herein (will be sent to both above
mentioned beneficiary's on the above mentioned addresses), sent by certified mail, return
receipt requested. Upon your receipt of said notice, you may draw on us at sight for the
balance remaining under this Letter of Credit within the then applicable expiration date.
6. Partial drawings under this Letter of Credit are permitted.
7. For purposes of the Letter of Credit, Vestas Blades America, Inc. shall be deemed
in default if one or more of its obligations under the USR and/or the Site Development
Agreement is/are not met within the time frame(s) set forth in said USR and/or Site
Development Agreement.
8. This Credit shall be transferable, as directed by an authorized representative of the
Board of County Commissioners of Weld County, Colorado, the First Beneficiary to the
City of Brighton, the Second Beneficiary in compliance with Article 38 of UPC 600.
We hereby promise you that a draft drawn under and in compliance with the terms and
conditions of this Letter of Credit will be duly honored by us if presented at this office
(Nordea Bank Danmark A/S, Strandgade 3, DK-1401 Copenhagen C, Denmark) or by
registered mail to this office (Nordea Bank Danmark A/S, Strandgade 3, P.O.Box 850,
DK-0900 Copenhagen C, Denmark) on or before the current expiration date, currently
30 June 2010 (Expiration Date), or any future applicable expiration date as described
herein.
Draft presentation before 10:00 a.m. on any Business Day shall be honored within 3
business days by wire transfer in immediately available funds to any account designated
by an authorized representative of the Beneficiary submitting such draft.
Draft presentation between 10:00 a.m. and 5:00 p.m. on any Business Day shall be
honored within 4 business days by wire transfer in immediately available funds to any
account designated by an authorized representative of the Beneficiary presenting such
draft. As used in this Credit, the term "Business Day" shall mean a day other than
Saturday or Sunday or any other Banking Holiday in Denmark.
This Letter of Credit sets forth in full the terms of 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 or to which this Letter of Credit
relates.
Nordea Bank Danmark NS Postal address'. Visiting address' Telephone +45 33 33 33 33
Trade Finance Post Box 550 Strandgade 3 Telefax +45 33 33 51 05
0900 Copenhagen C 1401 Kobenhavn C Telex 27643 NDEA DK
Denmark DenmerkS W.I.F.T. UNIB DK KK
Company registration number 13522197, Copenhagen, Denmark
Nordeo
Page 4 of 4
Except to the extent terms hereof are inconsistent with its provisions, in which case this
Letter of Credit shall govern, this Letter of Credit is subject to the Uniform Customs and
Practice for Documentary Credits (1993 Revision), the International Chamber of
Commerce Publication No. 600.
Yours truly,
Name: Nordea Bank Danmark A/S
Trade Finance
Authorized Officers:
� I
Tove Frederiksen
Jonna Andersen
Nordea Bank Danmark NS Postal address: V,sidng address: Telephone +45 33 33 33 33
Trade Finance Post Box 850 Strendgade 3 Telefax +45 33 33 51 05
0900 Copenhagen C 1401 Kobenhavn C Telex 27543 NDEA DK
Denmark DenmarkS.W.I.F.T. UNIB DK KK
Company reystralan number 1352219/, Copenhagen, Denmark
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