HomeMy WebLinkAbout20052714 (it L-H-1
CLERK TO THE BOARD
PHONE (970)336-7215, Ext. 4225
I
FAX: (970) 352-0242
P. O. BOX 758
WI D O GREELEY, COLORADO 80632
COLORADO
August 4, 2005
Centennial Bank of the West
2700 47th Avenue
Greeley, Colorado 80634.
RE: Cancellation and release of Collateral - Meadow Vale Farm, Inc.
To Whom It May Concern:
Attached hereto please find a copy of the Board of County Commissioner's Resolution approving
the cancellation and release of collateral, as referenced above. The two original Irrevocable
Letters of Credit are enclosed.
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
5 403
� 2005-2714
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IRREVOCABLE LETTER OF CREDIT#54 VITPC:17)
April 25, 1997
Weld County Board of Commissioners
915 Tenth Street
P.O. Box 1948
Greeley, CO 80632
Re: Completion of Improvements, Meadow Vale F Filing#1.
Dear Sirs:
The Eaton Bank, 2700 47th Avenue, Gr ey, CO 80634, hereby authorizes you to draw on us
for the account of Meadow Vale Farm, c., up to an aggregate amount of FIFTY THOUSAND
AND NO/100 DOLLARS ($50,000. ), such amount not available except by your drafts at sight,
accompanied by certification by th eld County Engineer that Meadow View Farm, Inc. failed
to complete the installation of i rovements for the Meadow Vale Farm First Filing, Weld
County, Colorado, in accor with the Improvement Agreement for Meadow Vale Farm First
Filing dated , 1997, by and between Weld County and Meadow View Farm, Inc.,
a Colorado Corporation.
We hereby further a e that:
(a) Drafts dra nder, and in compliance with the terms of this Irrevocable Letter of Credit will
be duly honor if presented at our office at 2700 47th Avenue, Greeley, CO 80634, on or before
April 25, 19 , upon which date this Letter of Credit shall expire.
(b)F s available under this Irrevocable Letter of Credit may be drawn in such amounts, and at
such mes, as determined by the County Engineer, in his/her sole discretion, provided that the
unt drawn shall not exceed the aggregate amount specified herein.
(c) We shall have no right, duty, obligation, or responsibility to evaluate the performance, or non-
performance, of the underlying contract between Meadow Vale Farm, Inc. and the holder of this
Letter of Credit.
100 OAK AVENUE/EATON,CO 80615/BUS(970)454-3456/FAX(970)454-2457
2700 47TH AVENUE/GREELEY,CO 80634/BUS(970)339-3456/FAX(970)339-3906
Irrevocable Letter of Credit#54.
Weld County Commissioners/Meadow View Farm, Inc.
April 25, 1997 -Page 2.
(d) This Letter of Credit will be reduced to 15% of the face amount ($7,500.00)upon acceptance
by Weld County of the public improvements required by the Improvement Agreement referred to
above.
(e) The Letter of Credit covering the final 15% shall remain in full force and effect until the final
15% is released by the County, or, until the Board of Commissioners has received sixty(60) days
prior notice of expiration of this Letter of Credit, whichever occurs first. We shall notify you in
writing of the pending expiration date. Said notice shall be sent by certified mail to the Clerk of
the Board of County Commissioners at P.O. Box 1948, Greeley, CO 80632.
(f) The amount of any draft drawn hereunder must be endorsed on the reverse side hereof. All
drafts must be marked"Drawn under Irrevocable Letter of Credit#54, Meadow Vale Farm, Inc."
and be accompanied by this original Letter of Credit.
Dated this 25rd day of April, 1997.
The Eaton Bank
By
Christoph r W. Jeavons
Vice President
EATON BAN IC
ii:1)
V t7-
i
IRREVOCABLE LETTER OF CREDIT #55
ila
April 25, 1997
Weld County Board of Commissioners
915 Tenth Street
P.O. Box 1948
Greeley, CO 80632
Re: Completion of Improvements, Meadow Vale F Filing#2.
Dear Sirs:
The Eaton Bank, 2700 47th Avenue, Greele , CO 80634, hereby authorizes you to draw on us
for the account of Meadow Vale Faun, In ., up to an aggregate amount of FIFTY THOUSAND
AND NO/100 DOLLARS ($50,000.00) such amount not available except by your drafts at sight,
accompanied by certification by the W d County Engineer that Meadow View Farm, Inc. failed
to complete the installation of impr ements for the Meadow Vale Farm Second Filing, Weld
County, Colorado, in accordance -th the Improvement Agreement for the Meadow Vale Farm
Second Filing dated , 1997, by and between Weld County and Meadow View
Farm, Inc., a Colorado Corp ation.
We hereby further agreeyat:
(a)Drafts drawn and ,/and in compliance with the terms of this Irrevocable Letter of Credit will
be duly honored if esented at our office at 2700 47th Avenue, Greeley, CO 80634, on or before
April 25, 1998, u on which date this Letter of Credit shall expire.
(b)Funds available under this Irrevocable Letter of Credit may be drawn in such amounts, and at
such times,has determined by the County Engineer, in his/her sole discretion, provided that the
amount drawn shall not exceed the aggregate amount specified herein.
(c) We shall have no right, duty, obligation, or responsibility to evaluate the performance, or non-
1rmance, of the underlying contract between Meadow Vale Farm, Inc. and the holder of this
r of Credit.
i
100 OAK AVENUE/EATON,CO 80815/BUS(970)454-3456/FAX(970)454-2457
2700 47TH AVENUE/GREELEY,CO 80634/BUS(970)339-3456/FAX(970)339-3906
V
Irrevocable Letter of Credit#55.
Weld County Commissioners/Meadow View Farm, Inc.
April25, 1997 - Page 2.
(d) This Letter of Credit will be reduced to 15% of the face amount ($7,500.00)upon acceptance
by Weld County of the public improvements required by the Improvement Agreement referred to
above.
(e) The Letter of Credit covering the final 15% shall remain in full force and effect until the final
15% is released by the County, or, until the Board of Commissioners has received sixty (60) days
prior notice of expiration of this Letter of Credit, whichever occurs first. We shall notify you in
writing of the pending expiration date. Said notice shall be sent by certified mail to the Clerk of
the Board of County Commissioners at P.O. Box 1948, Greeley, CO 80632.
(f) The amount of any draft drawn hereunder must be endorsed on the reverse side hereof. All
drafts must be marked "Drawn under Irrevocable Letter of Credit#55, Meadow Vale Farm, Inc."
and be accompanied by this original Letter of Credit.
Dated this 25rd day of April, 1997.
The Eaton Bank
By
Christop er W. Jeavons
Vice President
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4225
FAX: (970) 352-0242
P. O. BOX 758
O GREELEY, COLORADO 80632
•
COLORADO
August 4, 2005
Meadow Vale Farm, Inc.
4250 West 16th Street, #46
Greeley, Colorado 80634
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 two original Letters of Credit
were returned to Centennial Bank of the West, 2700 47th Avenue, Greeley, Colorado 80634.
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
COLLATERAL RELEASED
IN CONJUNCTION WITH
OTHER CASES
SEE #2005-2091
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CLERK TO THE BOARD
P. O. BOX 758 e `°s,.
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