The URL can be used to link to this page

Browse Search

Home My WebLink About20092417.tiffRESOLUTION RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR USE BY SPECIAL REVIEW PERMIT #1488 - FARFRUMWURKIN, LLLP / ROCK PRODUCTS OF COLORADO, LLC 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, by Resolution dated June 1, 2005, the Board approved the application of Farfrumwurkin, LLLP, do Jon File, 1163 Oakhurst Drive, Broomfield, Colorado 80020, and Kenneth and Judith Schell, 833 State Highway 52, Erie, Colorado 80516, for a Mineral Resource Development Facility, including dry open pit mining and materials processing, in the A (Agricultural) Zone District on the following described real estate, to wit: E1/2 SW1/4 and part of the N1/2 SE1/4 and part of the W1/2 W1/2 of Lot B of Recorded Exemption #3474; being part of the W1/2 W1/2 of Section 32, Township 2 North, Range 68 West; and part of the SE1/4 of Lot B of Recorded Exemption #1775 located in Section 31, Township 2 North, Range 68 West of the 6th P.M., Weld County, Colorado, and WHEREAS, on August 24, 2005, the Board of County Commissioners of Weld County, Colorado, approved an Improvements Agreement According to Policy Regarding Collateral for Improvements (Private Road Maintenance) between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Farfrumwurkin, LLLP, c/o Jon File, and Kenneth and Judith Schell, with terms and conditions being as stated in said agreement, and accepted Irrevocable Letter of Credit #282, drawn on the First National Bank of Arvada, (Bank of Choice Colorado), 7530 Grandview Avenue, Arvada, Colorado 80002, in the amount of $9,525.00, and WHEREAS, on October 29, 2008, the Board approved replacement Irrevocable Letter of Credit #282, from Farfrumwurkin, LLLP / Rock Products of Colorado, LLC, P.O. Box 983, Broomfield, Colorado 80038, drawn on Bank of Choice, 6870 West 52nd Avenue, Suite 107, Arvada, Colorado 80002, in the amount of $1,150.00. WHEREAS, staff from the Weld County Departments of Planning Services and Public Works have conducted a visual inspection and recommend release of said collateral. 1 11111111111 111111 11111 1111111111 111111 11111111 II11 1111 2009-2417 PL1775 3651788 10/01/2009 11:48A Weld County, CO 1 of 2 R 0.00 D 0.00 Steve Moreno Clerk & Recorder dd.; /°t, /i CANCEL COLLATERAL - FARFRUMWURKIN, LLLP / ROCK PRODUCTS OF COLORADO, LLC PAGE 2 NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the replacement Irrevocable Letter of Credit #282, drawn on Bank of Choice, in the amount of $1,150.00 be, and hereby is, canceled and released. BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby is, directed to return said collateral to the appropriate issuing party. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 9th day of September, A.D., 2009. BOARD OF COUNTY COMMISSIONERS WELD pSU .a', COLORADO ATTEST: Weld County Clerk to th BY: AP Deputy Clerk to the Bo C '. unty Attorney Date of signature. a 1111111 11111 1111 11111 1111 111111111111 III 11111 1111 1111 3651788 10/01/2009 11:48A Weld County, CO 2 of 2 R 0.00 0 0.00 Steve Moreno Clerk & Recorder —7 illiam F. Garcia, Chair uglas ademac e . Pro-Tem C Sean P. Conway 2009-2417 PL1775 COLORADO Atto MEMORANDUM TO: Board of County Commissioners DATE: September 4, 2009 FROM: Kim Ogle, Planning Services (^"' SUBJECT: Farfrumwurkin, LLLP do Jon File and Kenny Schell USR #1488 Irrevocable Letter of Credit #282 First National Bank r-> Staff from the Department of Public Works conducted a field inspection in August 2009 and determined that the property was in compliance with all transportation elements as stated in their referral dated August 31, 2009. Planning Services inspected the site on May 5, 2009 and determined that all non -transportation related items had been completed and were acceptable. The Weld County Attorney, the Department of Public Works and the Department of Planning Services, have determined that Letter of Credit #282, from First National Bank for Farfrumwurkin, LLLP, do Jon File and Kenny Schell, be released in full. 2009-2417 ate, '"DC. COLORADO MEMORANDUM TO: Kim Ogle, Planning Services DATE: 8/31/2009 FROM: Richard Hastings, Public Works Department SUBJECT: Collateral List Update: Farfrumwurkin, LLLP - Jon File / Schell (PL1775, #2005-2516) USR #1488 Release of Collateral Status • All Public Works related items have been completed and are found to be acceptable. Weld County Collateral List: Farfrumwurkin, LLLP - Jon File / Schell (PL1775, #2005-2516) USR #1488 Private Road Maintenance Agreement. (Rock Products of Colorado) Irrevocable Letter of Credit #282 - First National Bank Expires July 18, 2006, with 1 add] year, unless 60 days notice Replaced with new Letter of Credit #282 (09/05/06) Expires 08/30/2007, with 1 add'I year, Unless 60 days notice Partial Release 10/29/08 (2008-2882) Received Replacement LOC #282 Extended to 05/28/09 Extended to 11/15/09 (Bank of Choice) Recommendation: $9,525.00 -8,375.00 1,150.00 The Department of Public Works is recommending final release of collateral, as shown above from the Weld County Collateral List. Any non -Public Works -related items should be verified by Planning Services prior to collateral release. C:\Documents and Settings\kogle\Local Settings\Temporary Internet Files\Content.Outlook\NUIE6KGO\Collateral List update (Farfrumwurkin USR-1488)-MEMO (2).docx ieft Inc COLORADO September 14, 2009 CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 Farfrumwurkin, LLLP Rock Products of Colorado, LLC c/o Jon File 1163 Oakhurst Drive Broomfield, Colorado 80020 RE: Cancellation and release of Collateral for USR # 1488, Farfrumwurkink, LLLP / Rock Products of Colorado, LLC, c/o Jon File and Kenneth and Judith Schell Mr. File: On September 9, 2009, the Board of County Commissioners approved the cancellation and release of collateral for Farfrumwurkin, LLLP/Rock Products of Colorado, LLC, in the amount of $1,150.00 as referenced above. Enclosed is a copy of the Resolution signed by the Board of County Commissioners. I will forward a copy of the signed and recorded Resolution to you as soon as it has been recorded. The original Irrevocable Standby Letter of Credit for $1,150.00 has been returned to Bank of Choice. If you have questions or need additional information, please do not hesitate to contact me at (970) 356-4000, Extension 4227. Very truly yours, BOARD OF COUNTY COMMISSIONERS Deputy Clerk to the Board CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 COLORADO September 14, 2009 Farfrumwurkin, LLLP Rock Products of Colorado, LLC c/o Kenneth and Judith Schell 833 State Highway 52 Erie, Colorado 80516 RE: Cancellation and release of Collateral for USR # 1488, Farfrumwurkink, LLLP / Rock Products of Colorado, LLC, do Jon File and Kenneth and Judith Schell Mr. and Ms. Schell: On September 9, 2009, the Board of County Commissioners approved the cancellation and release of collateral for Farfrumwurkin, LLLP/Rock Products of Colorado, LLC, in the amount of $1,150.00 as referenced above. Enclosed is a copy of the Resolution signed by the Board of County Commissioners. I will forward a copy of the signed and recorded Resolution to you as soon as it has been recorded. The original Irrevocable Standby Letter of Credit for $1,150.00 has been returned to Bank of Choice. If you have questions or need additional information, please do not hesitate to contact me at (970) 356-4000, Extension 4227. Very truly yours, BOARD OF COUNTY COMMISSIONERS By: Donna J. BeetSler Deputy Clerk to the Board ink COLORADO September 14, 2009 CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 Attn: Sandy Loomis Bank of Choice 6870 West 52nd Avenue, Suite 107 Arvada, Colorado 80002 RE: Cancellation and release of Collateral — Farfrumwurkin, LLLP / Rock Products of Colorado, LLC, c/o Jon File and Kenneth and Judith Schell Ms. Loomis: Attached hereto please find the Board of County Commissioners Resolution releasing the collateral for Farfrumwurkin, LLLP / Rock Products of Colorado, LLC, do Jon File and Kenneth and Judith Schell, in the amount of $1,150.00, and the original Irrevocable Standby Letter of Credit No. 282 issued by Bank of Choice, in the amount of $1,150.00 If you have questions or need additional information, please do not hesitate to contact me at (970) 356-4000, Extension 4227. Very truly yours, BOARD OF COUNTY COMMISSIONERS By: Donna J. Buehler, Deputy Clerk to the Board IRREVOCABLE STANDBY LETTER OF CREDIT ISSUER: BANK OF CHOICE (ARVADA - 52ND) 6870 W 52ND AVE SUITE 107 ARVADA, CO 80002 -O1 a ar°• 4rrP t` ° P / eo; car dP °9 y�P'lP ° y as C ° ° t� i o PP c c ; 9%7 -re <.y Date of Issue:04-14-2009 Letter of Credit Number: 227 Amount: U.S. $ 1,150.00 ( ONE THOUSAND ONE HUNDRFD FIFTY AND NO1100 U.S. DOLLARS) For Benefit Of: Beneficiary Name and Address BOARD OF COUNTY COMMISSIONERS POB 758 GREELEY, CO. 80632 For Account Of: Applicant Name and Address ROCK PRODUCTS OF COLORADO, LLC PO BOX 983 BROOMFIELD, CO 80038 O 4c, o� aro C LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit (Letter of Credit) in favor of Beneficiary in the amount indicated above. Beneficiary may draw on this Letter of Credit with a Draft (or Drafts, if the maximum number of drawings is greater than one) together with the documents described below. Each Draft shall be signed on behalf of Beneficiary and be marked "Drawn under [Issuer name] Letter of Credit No. [Letter of Credit number] dated [Letter of Credit date]." Drafts must be presented at Issuer's address shown above on or before the Expiration Date. The presentation of any Draft shall reduce the Amount available under this Letter of Credit by the amount of the Draft. This Letter of Credit sets forth in full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any reference in this Letter of Credit, or any document to which this Letter of Credit may be related. This Letter of Credit expires on the Expiration Date. DRAWINGS. ❑ Partial drawings shall not be permitted under this Letter of Credit. D➢ Partial drawings are permitted. The maximum number of drawings that may be made is 6 DOCUMENTS. Each Draft must be accompanied by the following, an original and two copies except as stated: ® The original Letter of Credit, together with any amendments. ❑ A sight draft drawn by Beneficiary on Issuer. ❑ A signed statement by Beneficiary including the following statement: O Other documents: Issuer shall be entitled to accept a draft and the documentation described above, as required by the terms of this Letter of Credit, from any person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the pan of Issuer to verify the identity or authority of the person presenting the draft and such documentation. SPECIAL INSTRUCTIONS: THE BANK MUST NOT BE CALLED UPON TO DETERMINE QUESTIONS OF FACT OR LAW AT ISSUE BETWEEN THE ACCOUNT PARTY AND THE BENEFICIARY. FIFTEEN PERCENT (15%) OF THE TOTAL LETTER OF CREDIT AMOUNT CANNOT BE DRAWN UPON AND WILL REMAIN AVAILABLE TO WELD COUNTY UNTIL RELEASED BY WELD COUNTY. Irrevocable Standby Letter of Credit LC -STANDBY 6/21/2007 VMP® Bankers SystemsTM VMPC612 (0706).00 Wokers Kluwer Financial Services © 2001, 2007 Initials: Page 1 of 2 EXPIRATION DATE. This Letter of Credit expires at the close of business at Issuer's address at MIDNIGHT (Time) on 1115-2009 (Date). Issuer agrees to honor all Drafts presented in strict compliance with the provisions of this Letter of Credit on or before the Expiration Date. ® If Beneficiary has not drawn the full amount of this Letter of Credit prior to the Expiration Date, the Expiration Date shall be extended for a period of 365 days from the Expiration Date, unless Issuer notifies Beneficiary in writing at least 60 days prior to the Expiration Date that Issuer elects not to extend this Letter of Credit. In any event, this Letter of Credit shall expire on 11-15-2009 without any notice from Issuer to Beneficiary. TRANSFERABILITY. This Letter of Credit is ❑ transferable DO non -transferable. APPLICABLE LAW. This Letter of Credit shall be governed by: CO the Uniform Customs and Practice for Documentary Credits, 2006 Revision, International Chamber of Commerce Publication No. 600 (UCP), or any later version or amendment. ❑ the International Standby Practices 1998 (ISP98). This Letter of Credit shall also be governed by the laws of COLORADO the United States of America, so long as such laws are not inconsistent with the UCP or ISP, as applicable. BANK OF CHOICE (ARVADA • 52ND) (Issuer Name) By (Si JIM TANZILLO, VICE PRESIDENT (Signer Name and Title) (Date) Irrevocable Standby Letter of Credit LC -STANDBY 6/21/2007 VMP® Bankers SystemsTM VMPC612 (0706).00 Wolters Kluwer Financial Services CO 2001, 2007 Initials; Page 2 of 2 IRREVOCABLE STANDBY LETTER OF CREDIT ISSUER: BANK OF CHOICE (ARVADA - 52NDI 6870 W 52ND AVE SUITE 107 ARVADA, CO 80002 Date of Issue:02-28-2009 Letter of Credit Number: 782 Amount: U.S. $ 1,150.00 ( ONE THOUSAND ONE HUNDRED FIFTY AND NO/100 U.S. DOLLARS) For Benefit Of: Beneficiary Name and Address BOARD OF COUNTY COMMISSIONERS MB 758 GREELEY, CO. 80632 For Account Of: Applicant Name and Address ROCK PRODUCTS OF COLORADO, LIC PO BOX 983 BROOMFIELD, CO 80038 LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit (Letter of Credit) in favor of Beneficiary in the amount indicated above. Beneficiary may draw on this Letter of Credit with a Draft (or Drafts, if the maximum number of drawings is greater than one) together with the dnruments described below. Each Draft shall be signed on behalf of Beneficiary and be marked "Drawn under [Issuer name] Letter of Credit No. [Letter of Credit number] dated [Letter of Credit date]." Drafts must be presented at Issuer's address shown above on or before the Expiration Date. The presentation of any Draft shall reduce the Amount available under this Letter of Credit by the amount of the Draft. This Letter of Credit sets forth in full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any reference in this Letter of Credit, or any document to which this Letter of Credit may be related. This Letter of Credit expires on the Expiration Date. DRAWINGS. D Partial drawings shall not be permitted under this Letter of Credit. IX Partial drawings are permitted. The maximum number of drawings that may be made is 6 DOCUMENTS. Each Draft must be accompanied by the following, an original and two copies except as stated: ISI The original Letter of Credit, together with any amendments. O A sight draft drawn by Beneficiary on Issuer. O A signed statement by Beneficiary including the following statement: O Other documents: Issuer shall be entitled to accept a draft and the documentation described above, as required by the terms of this Letter of Credit, from any person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the part of Issuer to verify the identity or authority of the person presenting the draft and such documentation. SPECIAL INSTRUCTIONS: THE BANK MUST NOT BE CALLED UPON TO DETERMINE QUESTIONS OF FACT OR LAW AT ISSUE BETWEEN THE ACCOUNT PARTY AND THE BENEFICIARY. FIFTEEN PERCENT (15%I OF THE TOTAL LETTER OF CREDIT AMOUNT CANNOT BE DRAWN UPON AND WILL REMAIN AVAILABLE TO WELD COUNTY UNTIL RELEASED BY WELD COUNTY. Irrevocable Standby Letter of Credit VMP® Bankers Systems -FM Wolters Kluwer Financial Services © 2001, 2007 Initials: LC -STANDBY 6/21/2007 VMPC612 107061.00 Page 1 of 2 EXPIRATION DATE. This Letter of Credit expires at the close of business at Issuer's address at MIDNIGHT (Time) on 05-28-2009 (Date). Issuer agrees to honor all Drafts presented in strict compliance with the provisions of this Letter of Credit on or before the Expiration Date. ® If Beneficiary has not drawn the full amount of this Letter of Credit prior to the Expiration Date, the Expiration Date shall be extended for a period of 365 days from the Expiration Date, unless Issuer notifies Beneficiary in writing at least 60 days prior to the Expiration Date that Issuer elects not to extend this Letter of Credit. In any event, this Letter of Credit shall expire on 05.28.2009 without any notice from Issuer to Beneficiary. TRANSFERABILITY. This Letter of Credit is ❑ transferable CE non -transferable. APPLICABLE LAW. This Letter of Credit shall be governed by: DC the Uniform Customs and Practice for Documentary Credits, 2006 Revision, International Chamber of Commerce Publication No. 600 (UCP), or any later version or amendment. 0 the International Standby Practices 1998 (ISP98). This Letter of Credit shall also be governed by the laws of COLORADO America, so long as such laws are not inconsistent with the UCP or ISP, as applicable. BANK OF CHOICE (ARVADA • 52ND) (Issuer Name) JIM TANZILLO, VICE PRESIDENT (Date) (Signer Name and Title) , the United States of Irrevocable Standby Letter of Credit VMP® Bankers Systems TM Wolters Kluwer Financial Services ©2001, 2007 Initials: LC -STANDBY 6/21/2007 VMPC612 (07061.00 Page 2 of 2 IRREVOCABLE STANDBY LETTER OF CREDIT ISSUER: BANK OF CHOICE (ARVADA - 52ND) 6870 W 52ND AVE SUITE 107 ARVADA, CO 80002 Date of Issue:11-28-2008 Letter of Credit Number: 782 Amount: U.S. $ 1,150.00 ( ONE THOUSAND ONE HUNDRED FIFTY AND NO/100 U.S. DOLLARS) For Benefit Of: Beneficiary Name and Address BOARD OF COUNTY COMMISSIONERS POB 758 GREELEY, CO. 80632 For Account Of: Applicant Name and Address ROCK PRODUCTS OF COLORADO, LLC PD BOX 083 BROOMFIELD, CO 80038 LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit (Letter of Credit) in favor of Beneficiary in the amount indicated above. Beneficiary may draw on this Letter of Credit with a Draft (or Drafts, if the maximum number of drawings is greater than one) together with the documents described below. Fact Draft shall be signed on behalf of Beneficiary and be marked "Drawn under [Issuer name] Letter of Credit No. [Letter of Credit number] dated [Letter of Credit date]." Drafts must be presented at Issuer's address shown above on or before the Expiration Date. The presentation of any Draft shall reduce the Amount available under this Letter of Credit by the amount of the Draft. This Letter of Credit sets forth in full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any reference in this Letter of Credit, or any document to which this Letter of Credit may be related. This Letter of Credit expires on the Expiration Date. DRAWINGS. ❑ Partial drawings shall not be permitted under this Letter of Credit. C6 Partial drawings are permitted. The maximum number of drawings that may be made is 6 DOCUMENTS. Each Draft must be accompanied by the following, an original and two copies except as stated: ® The original Letter of Credit, together with any amendments. ❑ A sight draft drawn by Beneficiary on Issuer. ❑ A signed statement by Beneficiary including the following statement: O Other documents: Issuer shall be entitled to accept a draft and the documentation described above, as required by the terms of this Letter of Credit, from any person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the part of Issuer to verify the identity or authority of the person presenting the draft and such documentation. SPECIAL INSTRUCTIONS: THE BANK MUST NOT BE CALLED UPON TO DETERMINE QUESTIONS OF FACT OR LAW AT ISSUE BETWEEN THE ACCOUNT PARTY AND THE BENEFICIARY. FIFTEEN PERCENT (15%) OF THE TOTAL LETTER OF CREDIT AMOUNT CANNOT BE DRAWN UPON AND WILL REMAIN AVAILABLE TO WELD COUNTY UNTIL RELEASED BY WELD COUNTY. Irrevocable Standby Letter of Credit LC -STANDBY 6/21/2007 VMP® Bankers System,TM VMPC612 107061.00 Wolters Kluwer Financial Services ® 2001, 2007 Initials: Page 1 of 2 EXPIRATION DATE. This Letter of Credit expires at the close of business at Issuer's address at MIDNIGHT (Time) on 0228.2009 (Date). Issuer agrees to honor all Drafts presented in strict compliance with the provisions of this Letter of Credit on or before the Expiration Date. 0➢ If Beneficiary has not drawn the full amount of this Letter of Credit prior to the Expiration Date, the Expiration Date shall be extended for a period of 365 days from the Expiration Date, unless Issuer notifies Beneficiary in writing at least 60 days prior to the Expiration Date that Issuer elects not to extend this Letter of Credit. In any event, this Letter of Credit shall expire on 02-28-2009 without any notice from Issuer to Beneficiary. TRANSFERABILITY. This Letter of Credit is 0 transferable ® non -transferable. APPLICABLE LAW. This Letter of Credit shall be governed by: DE the Uniform Customs and Practice for Documentary Credits, 2006 Revision, International Chamber of Commerce Publication No. 600 (UCP), or any later version or amendment. ❑ the International Standby Practices 1998 (ISP98). This Letter of Credit shall also be governed by the laws of COLORADO America, so long as such laws are not inconsistent with the UCP or ISP, as applicable. BANK OF CHOICE (ARVADA - 52ND) (Issuer Name) By (Signature) JIM TANZILLO, VICE PRESIDENT (Signer Name and Title) , the United States of (Date) Irrevocable Standby Letter of Credit VMP® Bankers SyetemsTM Wolters Kluwer Financial Services © 2001, 2007 initials: LC -STANDBY 6/21/2007 VMPC612 107061.00 Page 2 of 2 IRREVOCABLE STANDBY LETTER OF CREDIT ISSUER: BANK OF CHOICE (ARVADA - 52ND) 8870 W 52ND AVE SUITE 107 ARVADA, CO 80002 Date of Issue:08-30-2008 Letter of Credit Number: 782 Amount: U.S. $ 1,150.00 ( ONE THOUSAND ONE HUNDRED FIFTY AND NO1100 U.S. DOLLARS) For Benefit Of: Beneficiary Name and Address BOARD OF COUNTY COMMISSIONERS POB 758 GREELEY, CO. 80632 For Account Of: Applicant Name and Address ROCK PRODUCTS OF COLORADO, LLC PO BOX 983 BROOMFIELD, CO 80038 LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit (Letter of Credit) in favor of Beneficiary in the amount indicated above. Beneficiary may draw on this Letter of Credit with a Draft (or Drafts, if the maximum number of drawings is greater than one) together with the documents described below. Each Draft shall be signed on behalf of Beneficiary and be marked "Drawn under [Issuer name] Letter of Credit No. [Letter of Credit number] dated [Letter of Credit date]." Drafts must be presented at Issuer's address shown above on or before the Expiration Date. The presentation of any Draft shall reduce the Amount available under this Letter of Credit by the amount of the Draft. This Letter of Credit sets forth in full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any reference in this Letter of Credit, or any document to which this Letter of Credit may be related. This Letter of Credit expires on the Expiration Date. DRAWINGS. O Partial drawings shall not be permitted under this Letter of Credit. D9 Partial drawings are permitted. The maximum number of drawings that may be made is 6 DOCUMENTS. Each Draft must be accompanied by the following, an original and two copies except as stated: Dl The original Letter of Credit, together with any amendments. O A sight draft drawn by Beneficiary on Issuer. El A signed statement by Beneficiary including the following statement: O Other documents: Issuer shall be entitled to accept a draft and the documentation described above, as required by the terms of this Letter of Credit, from any person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the part of Issuer to verify the identity or authority of the person presenting the draft and such documentation. SPECIAL INSTRUCTIONS: THE BANK MUST NOT BE CARED UPON TO DETERMINE QUESTIONS OF FACT OR LAW AT ISSUE BETWEEN THE ACCOUNT PARTY AND THE BENEFICIARY. FIFTEEN PERCENT (15%) OF THE TOTAL LETTER OF CREDIT AMOUNT CANNOT BE DRAWN UPON AND WILL REMAIN AVAILABLE TO WELD COUNTY UNTIL RELEASED BY WELD COUNTY. Irrevocable Standby Letter of Credit LC -STANDBY 6/21/2007 VMP® Bankers systemsty VMPC612 107061.00 Wolters Kluwer Financial Services © 2001, 2007 Initials. Page 1 of 2 EXPIRATION DATE. This Letter of Credit expires at the close of business at Issuer's address at MIDNIGHT (Time) on 11-28-2008 (Date). Issuer agrees to honor all Drafts presented in strict compliance with the provisions of this Letter of Credit on or before the Expiration Date. D➢ If Beneficiary has not drawn the full amount of this Letter of Credit prior to the Expiration Date, the Expiration Date shall be extended for a period of 365 days from the Expiration Date, unless Issuer notifies Beneficiary in writing at least 60 days prior to the Expiration Date that Issuer elects not to extend this Letter of Credit. In any event, this Letter of Credit shall expire on 11.28.2008 without any notice from Issuer to Beneficiary. TRANSFERABILITY. This Letter of Credit is ❑ transferable ® non -transferable. APPLICABLE LAW. This Letter of Credit shall be governed by: 53 the Uniform Customs and Practice for Documentary Credits, 2006 Revision, International Chamber of Commerce Publication No. 600 (UCP), or any later version or amendment. ❑ the International Standby Practices 1998 (ISP98). This Letter of Credit shall also be governed by the laws of COLORADO the United States of America, so long as such laws are not inconsistent with the UCP or ISP, as applicable. BANK OF CHOICE (ARVADA • 52ND) (Issuer Name) ADAM D WIMMER, ASST VICE PRESIDENT (Signer Name and Title) Irrevocable Standby Letter of Credit VMP® Bankers SyetemsTM Wolters Kluwer Financial Services © 2001, 2007 LC -STANDBY 6/21/2007 VMPC612 107061.00 Initials. Page 2 of 2 Sandy Loomis Loan Assistant/AVP we/ OBank of Choice i'r in Arvada December 22, 2008 Weld County Department of Planning Services 4209 Weld County Road 24.5 Longmont, Co 80504 Ce°ntv P SooTh 'Est al Depart OFP . obvc ment 2098 RE: Rock Products of Colorado, LLC (extension of LOC) To whom it may concern: Please find enclosed the original replacement letter of credit #282 extending the maturity date to February 28, 2009. If you have any questions, please feel free to contact me at #303-345-2563. Sincerely, 71 3 Y ZJ4,s Bank of Choice Colorado 1 7530 Grandview Avenue, Arvada, Colorado 800021 6870 West 52nd Avenue, Suite 107, Arvada, Colorado 80002 Phone: (303) 422-1441 I Fax: 1303) 422-18961 BankofChoiceCD.com Cr Member FDIC Hello