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Home My WebLink About20082882.tiff o� RESOLUTION RE: APPROVE PARTIAL 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 Farfrumworkin, LLLP, do Jon File, and Kenneth and Judith Schell,with terms and conditions being as stated in said agreement, and accepted Irrevocable Letter of Credit #282, in the amount of $9,525.00, drawn on the First National Bank of Arvada, 7530 Grandview Avenue, Arvada, Colorado 80002, and WHEREAS, staff from the Weld County Department of Planning Services has conducted a visual inspection and recommends partial release of said collateral, in the amount of$8,375.00, retaining $1,150.00, and WHEREAS, Farfrumwurkin / Rock Products of Colorado, LLC, P.O. Box 983, Broomfield, Colorado 80038, has presented the Board with a replacement Irrevocable Letter of Credit #282, drawn on Bank of Choice, 6870 West 52nd Avenue, Suite 107, Arvada, Colorado 80002, in the amount of$1,150.00, thereupon reducing the amount of credit available for draw by Weld County to $1,150.00. 11111111111111111111111 11111 Ell 111111 III 11111 IIII VIII 2008-2882 3592019 11/26/2008 11:57A Weld County, CO PL1775 1 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder (%P : PLC 7117Y` 7‘7 343- CANCEL COLLATERAL - FARFRUMWURKIN, LLLP / ROCK PRODUCTS OF COLORADO PAGE 2 NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the original Irrevocable Letter of Credit#282, drawn on the First National Bank of Arvada, in the amount of $9,525.00 be, and hereby is, canceled and released. BE IT FURTHER RESOLVED by the Board that the replacement Irrevocable Letter of Credit from Bank of Choice, in the amount of$1,150.00 be, and hereby is accepted, and 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 29th day of October, A.D., 2008. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST: 41,441 ' ;:r�� ,/ ltia 1861 O `0 k:; William H. Jerke, Chair Weld County Clerk to t Z Bt a v : = �, ywrt EXCUSED 4 Robert 9G1 en, Pro-Tem BY: �t- d '►.rs�s!�_ _r:/ �� Deputy Cler to the Board WilRsmmF. Garcia APPROVED-AS TO F c�,� Davi L. Long C my lCttorney/ z os2 Douglas adema er Date of signature: l0/3OAP 11111111111111111111111 111111 it (III 3592019 11/26/2008 11:57A Weld County, CO 2 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 2008-2882 PL1775 MEMORANDUM itestarg TO: Board of County Commissioners October 23, 2008 wokFROM: Jacqueline Hatch-Drouillard COLORADO SUBJECT: USR-1488, Farfrumwurkin LLLP— File and Schell The applicant for USR-1488, Jon File has submitted the attached letter dated September 30, 2008. The applicant is requesting a full release of collateral. The Department of Planning Services conducted a site visit on October 6, 2008 and noted that the 46 trees required on the east side of CR 3 1/4 were not in. The applicant was informed of this and has submitted the attached Irrevocable Standby Letter of Credit for one thousand one hundred and fifty dollars ($1,150.00)for the remaining trees on October 22, 2008. The Use by Special Review USR-1488 was approved by the Board of County Commissioners on June 1, 2005. Staff is recommending that a partial release of collateral for eight thousand three hundred and seventy five dollars ($8,375.00) be released at this time and the new form of collateral in the amount of one thousand one hundred and fifty dollars ($1,150.00) be accepted and held until the remaining 46 trees are planted. Thank you U c= J U) 2008-2882 Jacqueline Hatch From: Jacqueline Hatch Sent: Monday, October 06, 2008 9:46 AM To: 'rockonatrpc@earthlink.net' Subject: USR-1488 release of collateral Jon, Hello I've received your request for full release of collateral for USR-1488 . I went out to the site on Friday and noted that the 46 trees required on the east side of CR 3 1/4 were not in. 46 trees at $25.00 is $1150.00. In regards to the missing trees you have a couple options. You can either put the trees in and I can come out and recheck the site or you can request a partial release of collateral. If you opt for the partial release I will need a new form of collateral submitted. The total amount of collateral is currently $9525.00. I would be recommending a release in the amount of $8375.00. Prior to release I will need a new form of collateral in the amount of $1150.00. Let me know which option you wish to proceed with and if you have any questions Thanks Jacqueline 1 Weld County Planning Department GREELEY OFFICE OCT 01 ?nnR • RECEIVED ROCK PRODUCTS tm of COLORADO P. O. Box 983 Broomfield, CO 80038 Site Office: 303-828-4557 Fax: 303-828-4547 E-Mail: rockonatrpc.earthlink.net September 30, 2008 WELD COUNTY COLORADO Department Of Planning Services Southwest Office 4209 Weld County Road 24.5 Longmont, CO 80504 RE: Case Number USR-1488, FARFRUMWURKIN, LLP/JOHN FILE/ SCHELL This letter serves as our official notice that the bond requirement under the above referenced Case has been satisfied. The enclosed pictures show that the required berm was installed, complete with trees bordering the property along WCR 3 '/ and the north side of the Boulder & Weld County Ditch. Please file the necessary paperwork to release the bond that has been guaranteed by our bank under an Irrevocable Letter of Credit in the amount of $9,525.00. Any questions or comments can be directed to the address listed above, or I can be Reached on my cell phone @ 303) 570-9798. cerely, J P. File cc: Jacqueline Hatch Bank of Choice • -as yhl * •y . . "" • sirs • 'ei°' . 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Ito* October 20, 2008 • i 14,E® Weld County Department of Planning Services 4209 Weld County Road 24.5 Longmont, CO 80504 RE: Rock Products of Colorado, LLC, reduction in letter of credit#282 To whom it may concern: Please find enclosed the original replacement letter of credit#282 lowering the dollar amount to $1,150.00. If you would please void the previous letter which expired 8/30/2008 and return it in the enclosed envelope it would be appreciated. If you have any questions, please feel free to contact me at#303-345-2563. Sincerely, a� ari Sandy Loomis Loan Assistant Bank of Choice Colorado 1 7530 Grandview Avenue,Arvada,Colorado 80002 1 6870 West 52nd Avenue,Suite 107,Arvada,Colorado 80002 Phone:(303)422-1441 I Fax:(303)422-1896 1 BankofChoiceCO.com Q Member FDIC l9`0/ IRREVOCABLE STANDBY LETTER OF CREDIT ISSUER:BANK OF CHOICE(ARVADA-52ND) ` 6870 W 52ND AVE SUITE 107 ARVADA,CO 80002 Date of Issue:08-302008 Letter of Credit Number: 282 Amount: U.S. $ 1,150.00 ( ONE THOUSAND ONE HUNDRED FIFTY AND NOI100 U.S. DOLLARS) For Benefit Of: For Account Of: Beneficiary Name and Address Applicant Name and Address BOARD OF COUNTY COMMISSIONERS ROCK PRODUCTS OF COLORADO,LLC POB 758 GREELEY, CO.80632 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. ❑ Partial drawings shall not be permitted under this Letter of Credit. CI 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: CO 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 SystamsTM VMPC612 (0706100 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. ® 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: ® the Uniform Customs and Practice for Documentary Credits, 2W6 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 CDLORADO , 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 . (71/12(71/12(Sr mre) (Date) ADAM D WIMMER,ASST VICE PRESIDENT (Signer Name and Title) Irrevocable Standby Letter of Credit LC-STANDBY 6/21/2007 VMP®Bankers SystemsTm VMPC612 107061.00 Wolters Kluwer Financial Services ©2001,2007 Initials: Page 2 of 2 • � CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 C. GREELEY, COLORADO 80632 COLORADO October 29, 2008 ATTN; JON FILE FARFRUMWURKIN, LLLP/ROCK PRODUCTS OF COLORADO, LLC P.O. BOX 983 BROOMFIELD, COLORADO 80038 RE: Partial Cancellation and release of Collateral for Farfrumwurkin, LLLP/Rock Products of Colorado, c/o Jon File Mr. File: On October 29, 2008, the Board of County Commissioners approved the partial cancellation and release of collateral for USR#1488, in the amount of$8,375.00, 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$9,525.00 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 1 SY: ?LCL Qk� ;;.14,,2,/ Donna J. Be er Deputy Clerk to the Board .cc CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 C FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 COLORADO October 29, 2008 ATTN: SANDY LOOMIS BANK OF CHOICE 6870 WEST 52ND AVENUE, SUITE 107 ARVADA COLORADO 80002 RE: Partial Cancellation and release of Collateral - Farfrumwurkin, LLLP/Rock Products of Colorado, LLC, do Jon File Ms. Loomis: Attached hereto please find the Board of County Commissioners Resolution partially releasing the collateral for Farfrumwurkin, LLLP/Rock Products of Colorado, LLC, in the amount of$8,375.00, and the original Irrevocable Standby Letter of Credit issued by Bank of Choice, in the amount of $9,525.00. We have received a new Irrevocable Letter of Credit from you for the remaining $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 By6vi � //71,41,6,/ onna J. Bernier, • Deputy Clerk to the Board C' p o °? P1 C `°? 1Z S P IRREVOCABLE STANDBY LETTER OF CREDIT d ?ry C :P -e-tee), y ISSUER:BANK OF CHOICE COLORADO PA4r� °�?' .8?e 7530 GRANDVIEW AVE S"o,° a • ARVADA,CO 80002 1¢ . P s or to tO Date of Issue:07-18-2006 Letter of Credit Number: 282 4, Amount: U.S. $ 9.525.00 ( NINE THOUSAND FIVE HUNDRED TWENTY FIVE AND NO/100 U.S. DOLLARS) For Benefit Of: For Account Of: Beneficiary Name and Address Applicant Name and Address BOARD OF COUNTY COMMISSIONERS ROCK PRODUCTS OF COLORADO,LLC POB 758 GREELEY,CO.80632 11811 UPHAM STREET,UNIT#12 BROOMFIELD,CO 80020 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, in 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: ❑ 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 identify 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 115%)OF THE TOTAL LETTER OF CREDIT AMOUNT CANNOT BE DRAWN UPON AND WILL REMAIN AVAILABLE TO WELD COUNTY UNTIL RELEASED BY WELD COUNTY. EXPIRATION DATE. This Letter of Credit expires at the close of business at Issuer's address at MIDNIGHT (Time) on 08.30.2007 (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. CA 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 L..tter ruf Cnd:t shall ',AI,L., on 08.30.2007 witbut any nonce trom Issuer to lienettcta r--i`/-'� g ©2001 Bankers Systems,Inc.,Si.Cloud,MN Form LC-STANDBY 1/15/2002 (page 1 of 21 TRANSFERABILITY. This Letter of Credit is ❑ transferable ® non-transferable. APPLICABLE LAW. This Letter of Credit shall be governed by: GI the Uniform Customs and Practice for Documentary Credits, 1993 Revision, International Chamber of Commerce Publication No. 500 (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 COI ORADO , the United States of America, so long as such laws are not inconsistent with the UCP or ISP, as applicable. BANK OF CHOICE COLORADO (Issuer Name) By lt,1,,w1 XJCv ".- ,v'? 7/i e 10 6 (Signature) (Date) MATT GORR,VICE PRESIDENT (Signer Name and Title) ©2001 Bankers Systems,Inc.,St.Cloud,MN Form LC-STANDBY 1/15/2002 (page 2 of 2) %`d °tint ,r°DT Y Plat, flip Bn Dana OBank`of Choice 0 c2 '`°',v�m�°f in in Arvada 2008 December 22, 2008 Weld County Department of Planning Services 4209 Weld County Road 24.5 Longmont, Co 80504 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, Sandy Loomis Loan Assistant/AVP 7,3- 3yf-Z5(3 Bank of Choice Colorado 17530 Grandview Avenue,Arvada,Colorado 800021 6870 West 52nd Avenue,Suite 107,Arvada,Colorado 80002 Phone:(303)422-1441 I Fax:1303)422-1896 1 BankofChoiceCD.com Cr Member FDIC 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: 282 Amount: U.S. $ 1,150.00 ( ONE THOUSAND ONE HUNDRED FIFTY AND NOI100 U.S. DOLLARS) For Benefit Of: For Account Of: Beneficiary Name and Address Applicant Name and Address BOARD OF COUNTY COMMISSIONERS ROCK PRODUCTS OF COLORADO,LLC POB 758 GREELEY,CO.80632 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. ❑ Partial drawings shall not be permitted under this Letter of Credit. ❑ 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: CC 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: ❑ 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 SystemsTM VMPC612 (07061.00 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 02-28-2009 (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 02-28-2009 without any notice from Issuer to Beneficiary. TRANSFERABILITY. This Letter of Credit is O transferable 00 non-transferable. APPLICABLE LAW. This Letter of Credit shall be governed by: l 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 , 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 (Signature) (Date) JIM TANZILLO,VICE PRESIDENT (Signer Name and Title) Irrevocable Standby Letter of Credit LC-STANDBY 6/21/2007 VMP®Bankers SystemsTM VMPC612 107061.00 Wolters Kluwer Financial Services©2001,2007 Initials'. Page 2 of 2 Jacqueline Hatch From: Jacqueline Hatch Sent: Monday, January 05, 2009 1:20 PM To: Donna Bechler Subject: FW: Letter of Credit Question Donna, I have received a replacement letter of credit for USR-1488. I will send it up to you. I have also spoken with Sandy Loomis with Bank of Choice on 12/24/08 and let her know that the letter of credit will need to be continually renewed until the improvements are completed on site. She agreed. Let me know if you have any questions THANKS Jacqueline x8728 Original Message From: Bruce Barker Sent: Wednesday, December 24, 2008 2:13 PM To: Jacqueline Hatch Subject: RE: Letter of Credit Question Got your voice-mail message. Go ahead and take it, but let the bank know the loc will need to be renewed until he gets the improvements completed. Original Message From: Bruce Barker Sent: Wednesday, December 24, 2008 1:50 PM To: Jacqueline Hatch Subject: RE: Letter of Credit Question I think the last sentence of the "EXPIRATION DATE" paragraph makes it so that the expiration date is on 2/28/2009, no ifs, ands or buts! You need to let the applicant know that last sentence needs to be changed -- the Board cannot accept it. Bruce. Original Message From: Jacqueline Hatch Sent: Wednesday, December 24, 2008 1:38 PM To: Bruce Barker Cc: Esther Gesick Subject: Letter of Credit Question Bruce, Help - Esther and I both have read the expiration section on the attached letter of credit and are confused. I just got this one in the mail to replace the one under docket number 2008-2882 (page 11) which says the same thing. We aren't sure if it automatically extends another year from the date or does it really expire on 2/28/2009. Is it okay or does it need to say something else? thanks! ! Happy Holidays Jacqueline 1 0 Bank of Choice tsr in Arvada February 25, 2009 Weld County Department of Planning Services 4209 Weld County Road 24.5 Longmont, CO 80504 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 May 28, 2009. If you have any questions, please feel free to contact me at 303-345-2570. Sincerely, e Mi ele Lynes Loan Assistant 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:(303)422-18961 BankofChoiceC0.com Q Member FDIC IRREVOCABLE STANDBY LETTER OF CREDIT ISSUER:BANK OF CHOICE(ARVADA-52ND) 6870 W 52ND AVE SUITE 107 ARVADA,CO 80002 Date of Issue:02•28-2009 Letter of Credit Number: 787 Amount: U.S. $ 1,150.00 ( ONE THOUSAND ONE HUNDRED FIFTY AND NO/100 U.S. DOLLARS) For Benefit Of: For Account Of: Beneficiary Name and Address Applicant Name and Address BOARD OF COUNTY COMMISSIONERS ROCK PRODUCTS OF COLORADO,LLC POB 758 GREELEY,CO.80632 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. ❑ Partial drawings shall not be permitted under this Letter of Credit. C➢ 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: ❑ 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 Latter of Credit LC-STANDBY 6/21/2007 VMP®Bankers SystemsTM VMPC612 (0706).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 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 E transferable El non-transferable. APPLICABLE LAW. This Letter of Credit shall be governed by: CB the Unifonn 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 arc not inconsistent with the UCP or ISP, as applicable. BANK OF CHOICE(ARVADA 52ND) (Issuer Name) By — (Signatu (Date) JIM TANZILLO,VICE PRESIDENT (Signer Name and Title) Irrevocable Standby Letter of Credit LC-STANDBY 6/21/2007 VMP®Bankers SystemsTM VMPC612 107061.00 Wolters Kluwer Financial Services ©2001,2007 Initials'. Page 2 of 2 Hello