HomeMy WebLinkAbout20052448.tiff 014 RESOLUTION
RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR SITE PLAN
REVIEW#373- M. T. N. T., 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, on July 28, 2004, Department of Planning Services staff approved the
application of M.T. N.T., LLC,do Martin and Theresa Valencia,2690 Stagecoach Road, Longmont,
Colorado 80501, for a Valley Camper RV on the following described real estate, to wit:
Lots 5 and 6, Block 1, Western Dairymen
Cooperative Subdivision being located in part of the
NE 1/4 of Section 10, Township 2 North, Range 68
West of the 6th P.M., Weld County, Colorado, and
WHEREAS, on October 6, 2004, the Board of County Commissioner of Weld County,
Colorado, approved a Landscape Improvements Agreement According to Policy Regarding
Collateral for Improvements for Site Plan Review #373, between the County of Weld, State of
Colorado, by and through the Board of County Commissioners of Weld County, and M. T. N. T.,
LLC, c/o Martin and Theresa Valencia with terms and conditions being as stated in said agreement,
and accepted Irrevocable Standby Letter of Credit#1544, drawn on the Guaranty Bank and Trust
Company, 900 S. Main Street, Longmont, Colorado 80501, in the amount of$47,856.00, and
WHEREAS,staff from the Weld County Department of Public Works has conducted a visual
inspection and recommends release of said collateral.
WHEREAS, upon recommendation of staff, the Board deems it advisable to release said
collateral.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County,Colorado,that the Irrevocable Standby Letter of Credit#1544,drawn on the Guaranty Bank
and Trust Company, in the amount of$47,856.00 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.
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2005-2448
3318014 081 PL1747
1 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recor der �C PL.
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CANCEL COLLATERAL - M. T. N. T., LLC
PAGE 2
The above and foregoing Resolution was,on motion duly made and seconded,adopted by
the following vote on the 17th day of August, A.D., 2005.
BOARD OF COUNTY COMMISSIONERS
,1 Lai WELD COUNTY, COLORADO
AT ) G'-N, `//
Ito ::.,,,,.t l , William H. rke, Chair
‘N. Clerk to the Board(lir FTC; / J. le, r -Tem
Deputy Clerk to the Board t3 Ce c-h
D vid E. Long
APR VED AS TO F • � �, D
Robert . Masden
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Date of signature: S—
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111111 11111 III 11111 IIIII 111111111111 III 111I1 1111 1111
3318014 08/30/2005 02:438 Weld County, CO 2005-2448
2 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder PL1747
f tri MEMORANDUM •
TO: Board of County Commissioners August 11, 2005
COLORADO. FROM: Jacqueline Hatch
SUBJECT: SPR-373, Valley Camper RV
The applicant for SPR-373, Martin Valencia has submitted the attached letter dated July 18,
2005. The applicant is requesting a full release of collateral for landscaping and fencing. The
Department of Planning Services conducted a site visit for compliance and finds that the
landscaping and fencing is in compliance with the recorded plat.
The SPR-373 was administratively approved by the Department of Planning Services on July,
30, 2004.
Staff is recommending that the request for release of collateral for forty seven thousand eight
hundred and fifty six dollars ($47,856.00) be approved at this time since the landscaping and
fencing installed meets the Weld County Code and the recorded SPR-373 plat.
Thank you
2005-2448
Jul 16 C5 05:58p Valley R.V.Center Ltd 3037721636
p.2
•
Valley Camper RV
701 S. Main St. •Longmont, CO 80501 •Phone 303-772-2010•Fax 303-772-1636
Weld County Planning Department July 18th 2005
918 10th Street
Greeley, Colorado 80631
Dear Ms. Hatch,
This is to inform you that the project at 3690 Stagecoach Road, Longmont
Co 80504, Lots 5 & 6, Block 1 of the Western Dairymen's Association has been
completed. We took occupancy April 1st, 2005.
We have met all requirements of our agreement for landscape
improvements, and request the letter of credit be released. The bank has funded
the complete loan and we are closing with CHFA and the SBA July 26th, 2005.
We need this letter released to complete our final funding.
Please let me know if you need anything from me to expedite this matter.
Sincerely,
"(lin-
Martintin P. Valencia
President - Valley Camper R.V.
5th Wheel Trailer • Motor Homes • Tent/Trailers • Travel Trailers • Popup Campers
Toppers • Parts • Service
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4225
1 FAX: (970) 352-0242
P. O. BOX 758
CGREELEY, COLORADO 80632
COLORADO
August 31, 2005
Valley RV
ATTN: Theresa Valencia
2690 Stagecoach Road
Longmont, Colorado 80504
RE: Cancellation and release of Collateral
To Whom It May Concern:
Attached hereto please find copies of the Board of County Commissioner's Resolution approving
the cancellation and release of collateral,as referenced above. The original*Letter of Credit i salso
enclosed, as directed by you.
If you have questions or need additional information,please do not hesitate to contact me at(970)
356-4000, Extension 4217.
Very truly yours,
BOARD OF COUNTY COMMISSIONERS
By:
Carol A. Harding,
Deputy Clerk to the Board
S Bor— Yt/
ph / 719
GUARANTY BANK Fxwa (303) in• (3
V f� Naur 6anMlna 311 ) 39≥-?936
AND TRUST COMPANY wu WWW.GUAi AN IYBANUONLINE.COM
$0104
IRREVOCABLE STANDBY LETTER OF CREDIT yid2
NO. 1544
c9' tio so
DATE OF ISSUE: September 20, 2004 .5 24ti�tiP �tm atia
1 G4 G io
AMOUNT: $47,856.00
EXPIRY DATE: September 20, 2005 with automatic renewal provision
. J LL. ...'Jtmenf
Downtown Bank
1331 17TH STREET Beneficiary:
P O.Box 5847 BOARD OF COUNTY COMMISSIONERS
DENVER,CO 80217
FAX (303) 296-0228 Weld County Planning Services
918 10th Street c •
Boulder Bank Greeley, CO 80631
1375 WALNUT STREET
BOULDER,CO 80302
FAX (303).443-3056 Gentlemen:
Cherry Creek Bank At the request of and for the account of our customer, MINT, LLC, ("Customer")
3301 E. 1sT AVENUE 1210 Reserve Drive, Longmont, CO 80501 we hereby issue our Irrevocable
DENVER,CO 80206
FAX (303) 388-3275 Standby Letter of Credit in your favor in the aggregate amount not exceeding
FORTY SEVEN THOUSAND EIGHT HUNDRED FIFTY SIX AND 00/100THS
Cherry Hills Bank USDollars (USD$47,856.00).
6501 E.BELLEVIEW AVE.
ENGLEWOOD,CO 80111
FAX (720)493-5866 Funds under this credit are available with GUARANTY BANK AND TRUST
COMPANY by payment against presentation of your sight draft(s) drawn on us, at
DTC Bank our office, on or before the expiry date when accompanied by the following:
5445 DTC PARKWAY
PENTHOUSE ONE
GREENWOOD VILLAGE, 1. This Original Letter of Credit,
CO 80111
FAX (303)804-5510
2. A signed statement from the Board of County Commissioners of Weld
Gateway Park Bank County, Colorado stating that MINT, LLC has committed a material breach
3950 LEWISTON STREET of the Improvement Agreement according to Policy Regarding collateral for
AUXO30,CO 80011 Improvements regarding Western Dairymen Cooperative, 3690 Stagecoach
FAX (303) 574-0855 p g g Dan P g
Road, Longmont, CO dated the 14th day of September 2004 between MTNT,
Jefferson Bank LLC and the Board of County Commissioners of the County of Weld.
16800 W.COLFAX AVENUE
GOLnut (303)Col8a 852 Partial drawings are permitted.
FAz 313-8525 g
Longmont Bank
900 S.MAIN STREET
LONGMONT,CO 80501
FAX(303) 702-0451
Meridian Bank
11806 OSWEG0 STREET
ENGLEWOOD,CO 80112
FAX(303) 312.3198
Page 2
IRREVOCABLE LETTER OF CREDIT
NO. 1544
This page shall be attached to and become an integral part of the above referenced
Letter of Credit
Special Condition
It is a condition of this Letter of Credit that it shall be deemed automatically
extended without amendment for, additional one year periods from the current
expiration date hereof unless at least sixty (60) days prior to such current expiration
date Guaranty Bank and Trust Company shall notify the Beneficiary in writing,that
the Letter of Credit will not be extended for such additional period by overnight
courier to the address indicated above. In the case you receive such notification,you
may draw by presentation of the following: (a) a draft at sight on GUARANTY
BANK AND TRUST, DENVER, CO; (b) a statement purportedly signed by an
official of the Board of County Commissioners of Weld County, Colorado stating
we have received notice from GUARANTY BANK AND TRUST COMPANY,
DENVER, CO that the Letter of Credit No.1544 will not be renewed and that
MTNT, LLC has failed to provide proof of adequate collateral and substitution of
this Letter of Credit No. 1544; (c) copy of letter from GUARANTY BANK AND
TRUST COMPANY, DENVER, CO stating non-renewal of Letter of Credit
No.1544 and the Original Letter of Credit.
Except as otherwise expressly stated herein this credit is subject to the Uniform
Customs and Practice of Documentary Credits (1993 Revision) International
Chamber of Commerce, Publication 500 (UCP 500).
Any draft presented must bear the words "Drawn under GUARANTY BANK AND
TRUST COMPANY Irrevocable Letter of Credit No. 1544 dated September 20,
2004.
This Letter of Credit will Expire at Our Counter 3:00 p.m. Denver Time on the
expiry date or any future expiration date thereof.
Please address all communications regarding this Letter of Credit to the attention of
Guaranty Bank and Trust Company, Letter of Credit Department, 1331 17th St.,
Denver, CO 80202, mentioning specifically our Irrevocable Letter of Credit No.
1544, issued for the account of MTNT, LLC.
O Page 3
IRREVOCABLE LETTER OF CREDIT
NO. 1544
This page shall be attached to and become an integral part of the above referenced
Letter of Credit
We hereby agree with drawers and endorsers, and bona fide holders of drafts
negotiated under this Letter of Credit that the same shall be duly honored upon
presentation and delivery of the documents as specified above.
Sincerely,
GUARANI K AND TRUST C• PA r Y
Jo . Perkins Robe
Executive Vice President SV Preside cial Credit Manager
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