HomeMy WebLinkAbout20021769.tiff --
941
RESOLUTION
RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR LANDSCAPING
ONLY FOR SITE PLAN REVIEW, SPR #310 - NORFOLK IRON AND METAL
COMPANY, DBA WINOGRAD'S STEEL AND SUPPLY
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 January 4, 2000, the Board did approve the application
of Norfolk Iron and Metal Company, dba Winograd's Steel and Supply, for construction of a new
office and warehouse facility on the following described real estate, to wit:
Lot A of Amended Recorded Exemption #151; part
of the E1/2 SW1/4 of Section 29, Township 6
North, Range 65 West of the 6th P.M., Weld
County, Colorado, and
WHEREAS, on March 8, 2000, the Board of County Commissioner of Weld County,
Colorado, did approve an Improvements Agreement According to Policy Regarding Collateral
for Improvements (Private Road Maintenance) to include Landscaping for SPR #310, between
the County of Weld, State of Colorado, by and through the Board of County Commissioners of
Weld County, and Norfolk Iron and Metal Company, dba Winograd's Steel and Supply with
terms and conditions being as stated in said agreement, and accept Irrevocable Standby Letter
of Credit #STB20000436, drawn on the First National Bank of Omaha, in the amount of
$24,100.00, and
WHEREAS, staff from the Weld County Department of Planning Services has
conducted a visual inspection and recommends release of said collateral.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Irrevocable Standby Letter of Credit #STB20000436, drawn on
the First National Bank of Omaha, in the amount of$24,100.00 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.
IIIIIIII'IIIIIII11IIIIIIIIIIIIIIIIIIIII
II"11111II'll'I2002 11.49P „Saki„ Tsokamolo 2002-1769
21 of 2 ft 0.00 D 0.00 �•p PL1397
co : P< /1/3.0/ �/
-
CANCEL COLLATERAL - NORFOLK IRON AND METAL COMPANY, SPR #310
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 1st day of July, A.D., 2002.
BOARD OF COUNTY COMMISSIONERS
WEL COUNTY,/COLO DO
ATTEST: ILI/ v ' , vl i��—
GI n Vaad, Chair
Weld County Clerk to th non
fjVV.,7, � C3
�p ! "4-
5;11 David E. Long, Pro-
BY:
Deputy Clerk to the Boa --'_'`: - EXCUSED DATE OF GNING AYE
M. J. Geile
APP F M:
William H. Jerke
t tor y EXCUSED
/ Robert D. Masden
Date of signature: 7/-S
1 111111 1111 111111 1111 III 1111111 1111 III 1111 IIII VIII
2970941
2 of 2 R 0.00 0.00 J.A. Suki" Tsukamoto 2002-1769
PL1397
ftr, MEMORANDUM
WoveTO: Board of County Commissioners
COLORADO DATE: June 25, 2002
FROM: Kim Ogle, Planner III
SUBJECT: Cancellation of Irrevocable Letter of Credit
Norfolk Iron and Steel,
dba Winograd's Steel &Supply
Site Plan Review(SPR 310)
The Board of County Commissioners accepted an Irrevocable Letter of Credit, February 28,
2000 for Norfolk Iron and Steel, d.b.a.Winograd's Steel and Supply for the installation of
landscaping, seeding and erosion control, in the amount of twenty-four thousand one hundred
dollars and no/100s ($24,100.00.)
Attorney Barker received an amendment cancelling the letter of credit for the Norfolk Iron &
Metal Co. in the sum of$24,100 on June 19, 2002.
On June 20, 2002, the Department of Planning Services preformed a site investigation of the
completed landscape improvements for Norfolk Iron and Steel, dba Winograd's Steel & Supply
Site Plan Review (SPR 310) located at 31181 Weld County road 39 '/z, at the request of Ron
Wildeman, General Manager.
The improvements have been completed to the satisfaction of the Department of Planning
Services and we recommend that the twenty-four thousand one hundred dollars and no/100s
($24,100.00), be released.
m:V...laollateraltsprtspr3l O_1.wpd
2002-1769
VJ First National Bank International Trade Services
1620 Dodge Street
Omaha NE 68197
402.341.0500
SWIFT:FNBOUS44
AMENDMENT OF IRREVOCABLE STANDBY
LETTER OF CREDIT
BENEFICIARY: DATE: JUNE 12 , 2002
BOARD OF COUNTY COMMISSIONERS AMENDMENT NO: 1
ATTN: CLERK TO THE BOARD OUR LC NO: STB20000436
P.O. BOX 758
GREELEY, CO 80632
WE HAVE AMENDED THE CAPTIONED IRREVOCABLE STANDBY LETTER OF CREDIT FOR
THE ACCOUNT OF:
NORFOLK IRON & METAL CO.
3001 NORTH VICTROY ROAD
NORFOLK, NE 68702
THIS IS A DETRIMENTAL AMENDMENT
AMENDED TERMS AND CONDITIONS :
AMOUNT DECREASED BY: USD 24 , 100 . 00 TO A NEW AGGREGATE AMOUNT OF
USD 0 . 00
EXPIRATION DATE: JUNE 17, 2002
AS STIPULATED BY THE ABOVE MENTIONED LETTER OF CREDIT, THIS AMENDMENT
IS NOTIFICATION THAT WE WILL NOT RENEW THE LETTER OF CREDIT. THE
EXPIRATION DATE WILL BE JUNE 17, 2002 .
THIS AMENDMENT IS SUBJECT TO RECEIPT OF BENEFICIARY' S CONSENT.
THEREFORE, PLEASE CONFIRM YOUR CONSENT TO US IMMEDIATELY BY
MAIL TO THE ABOVE ADDRESS .
THIS AMENDMENT MUST BE ATTACHED TO AND BECOME AN INTEGRAL PART OF THE
ORIGINAL CREDIT. ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.
EXCEPT SO FAR AS OTHERWISE STATED, THIS LETTER OF CREDIT IS SUBJECT TO
THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS PUBLISHED BY
THE INTERNATIONAL CHAMBER OF COMMERCE, WHICH ARE IN EFFECT AT THE TIME
OF ISSUANCE OF THE LETTER OF CREDIT.
FIRST NATIONAL BANK O OMAHA
S ATURE
! .
,;?00 - /769
0 First National Bank 1620 Dodge Street
Omaha NE 68197
402.341.0500
Beneficiary's Consent to the Amendment
TO: First National Bank of Omaha
Attn: International Department
1620 Dodge Street
Omaha, NE 68102
RE: Letter of Credit No. STB20000436
For the account of : Norfolk Iron & Metal Co.
3001 North Victroy road
Norfolk, NE 68702
On behalf of the Beneficiary of the above mentioned Letter of
Credit and by signing this letter I confirm that the
Beneficiary is : (// Accepting Amendment No. 1
Rejecting Amendment No . 1
Beneficiary: Board of County Commissioners
Attn: Clerk to the Board
P.O. Box 758
Greeley, CO 80632
Authorized Signer:
Title: Glenn Vaad, C C y Board of Commissioners
Date: ly 1 2 02 -
Attest:
By:
Deputy Clerk to the fl./' Ntt
R p 1_,, . _,,,,,,. , 1 ,i
.. 0- first national bank of omaha {{{ ti o 2000
0
International Banking Department �'
1620 Dodge Sireet.Omaha,NE 68102-1596(U.S.A.) -n U C2 J n.- .f
(402)341-050D•FAX:(402)633-3554•Telex 484410 FIRSTNATBK OMA A j R N EY'S U r r j
IRREVOCABLE STANDBY LETTER OF CREDIT
DATE: FEBRUARY 29, 2000
LETTER OF CREDIT NUMBER: STB20000436
BENEFICIARY:
BOARD OF COUNTY COMMISSIONERS
ATTN: CLERK TO THE BOARD
P.O. BOX 758
GREELEY, CO 80632
WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO.
STB20000436 ON BEHALF OF NORFOLK IRON & METAL CO. 3001 NORTH VICTROY
ROAD, NORFOLK, NE 68702 , FOR ANY SUM OR SUMS NOT EXCEEDING AN AGGREGATE
TOTAL AMOUNT OF *USD24 , 100 . 00* (TWENTY FOUR THOUSAND ONE HUNDRED AND
NO/100 U. S . DOLLARS) AVAILABLE UPON PRESENTATION OF YOUR DRAFTS AT
SIGHT ON FIRST NATIONAL BANK OF OMAHA, INTERNATIONAL DEPARTMENT, 1620
DODGE STREET, OMAHA, NE 68102 .
DRAFTS MUST BE ACCOMPANIED BY:
A. A SIGNED STATEMENT FROM THE BOARD OF COUNTY COMMISSIONERS
OF WELD COUNTY, COLORADO STATING THAT "NORFOLK IRON & METAL
CO. , 3001 NORTH VICTORY ROAD, NORFOLK, NE 68702 , HAS
COMMITTED A MATERIAL BREACH OF THE IMPROVEMENTS AGREEMENT
ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
DATED THE TWENTY-SECOND DAY OF FEBRUARY, 2000 BY AND BETWEEN
NORFOLK IRON & METAL CO. , 3001 NORTH VICTORY ROAD, NORFOLK,
NE 68702 AND THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY
OF WELD. "
OR
B. A STATEMENT PURPORTEDLY SIGNED BY AN OFFICIAL OF THE
BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO
STATING THAT "WE HAVE RECEIVED WRITTEN NOTICE FROM FIRST
NATIONAL BANK OF OMAHA, INTERNATIONAL DEPARTMENT, 1620
DODGE STREET, OMAHA, NE 68102 , THAT THEY HAVE ELECTED NOT TO
CONSIDER THIS LETTER OF CREDIT NUMBER STB20000436 EXTENDED
FOR AN ADDITIONAL ONE YEAR PERIOD AND THAT NORFOLK IRON &
METAL CO. 3001 NORTH VICTORY ROAD, NORFOLK, NE 68702 , HAS
FAILED TO PROVIDE PROOF OF ADEQUATE COLLATERAL AND
SUBSTITUTION OF THIS LETTER OF CREDIT. " OV$2'
40.
4
O O�yO�. , *.
� V
p'L stir Gw Ci
0,O CQS' G' o
.S.+ oi. .ip4 pe a4,-
0
V4vS L +Z tia
ti
-0) first national bank of omaha
International Banking Department
1620 Dodge Street.Omaha,NE 68102-1546(U.S.A.)
(402)341-0500•FAX:(402)633-3554•Telex 484410 FIRSTNATBK OMA
PAGE 2
DATE : FEBRUARY 29, 2000
OUR LETTER OF CREDIT NO: STB20000436
IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT IS DEEMED TO
BE AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR 12 MONTHS FROM
THE EXPIRY DATE HEREOF, OR ANY FUTURE EXPIRATION DATE, UNLESS AT
LEAST 60 DAYS PRIOR TO ANY EXPIRATION DATE WE NOTIFY YOU BY
REGISTERED MAIL OR COURIER SERVICE THAT WE ELECT NOT TO CONSIDER
THIS LETTER OF CREDIT RENEWED FOR ANY SUCH ADDITIONAL PERIOD.
IN THAT EVENT, YOU MAY DRAW HEREUNDER ON OR PRIOR TO THE THEN
RELEVANT EXPIRATION DATE, UP TO THE FULL AMOUNT THEN AVAILABLE
HEREUNDER, AGAINST YOUR SIGHT DRAFT (S) ON US, BEARING THE NUMBER
OF THIS LETTER OF CREDIT.
THE DRAFTS DRAWN UNDER THIS CREDIT ARE TO BE ENDORSED HEREON AND MUST
BEAR THE CLAUSE "DRAWN UNDER THE FIRST NATIONAL BANK OF OMAHA CREDIT
NO. STB20000436 DATED FEBRUARY 29, 2000 . "
WE HEREBY AGREE WITH YOU THAT DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH
THE TERMS OF THIS CREDIT THAT THE SAME SHALL BE DULY HONORED ON DUE
PRESENTATION IF DRAWN AND NEGOTIATED ON OR BEFORE MARCH 01, 2001 .
DRAFTS MUST BE PRESENTED TO FIRST NATIONAL BANK OF OMAHA, INTERNATIONAL
DEPARTMENT, 1620 DODGE STREET, OMAHA, NE 68102 BY 5 : 00 PM LOCAL TIME .
THIS LETTER OF CREDIT SETS FORTH IN FULL THE TERMS OF OUR UNDERTAKING,
AND SUCH UNDERTAKING SHALL NOT IN ANY WAY BE MODIFIED, AMENDED OR
AMPLIFIED BY REFERENCE TO ANY NOTE, DOCUMENT, INSTRUMENT OR AGREEMENT
REFERRED TO HEREIN OR IN WHICH THIS LETTER OF CREDIT IS REFERRED TO OR
TO WHICH THIS LETTER OF CREDIT RELATES AND ANY SUCH REFERENCE SHALL NOT
BE DEEMED TO BE INCORPORATED HEREIN BY REFERENCE TO ANY NOTE, DOCUMENT
OR AGREEMENT.
THE ORIGINAL LETTER OF CREDIT AND ALL AMENDMENTS MUST BE PRESENTED WITH
EACH DRAWING OR WHEN CANCELLING THE LETTER OF CREDIT PRIOR TO THE
EXPIRY DATE .
EXCEPT SO FAR AS OTHERWISE STATED, THIS LETTER OF CREDIT IS SUBJECT TO
THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS PUBLISHED BY
THE INTERNATIONAL CHAMBER OF COMMERCE, WHICH ARE IN EFFECT AT THE TIME
OF ISSUANCE OF THE LETTER OF CREDIT.
FIRST NATIONAL BANK OF OMAHA
e
A U�Z SIGNATURE
Hello