HomeMy WebLinkAbout20052677 riet •
CLERK TO THE BOARD
PHONE (970)336-7215, Ext. 4225
FAX: (970)352-0242
P. O. BOX 758
O GREELEY, COLORADO 80632
COLORADO
August 3, 2005
MegaBank
8100 E. Arapahoe Road
P. O. Box 3318
Englewood, Colorado 80155
RE: Cancellation and release of Collateral - Francisco and Maclovio Martinez, asa El Hornito,
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 original Irrevocable Letter of
Credit is 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:
arol A. Harding,
Deputy Clerk to the Board
LIGIC
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IRREVOCABLE LETTER OF CREDIT e
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Weld Cov.nty Letter of Credit Date: August 10, 199S
Number: 653
Gentlemen:
MegaBank hereby establishes in favor of the Weld County ("Beneficiary") for the
account of El Bonito, Inc.("Customer"), an Irrevocable Letter of Credit in the amount of
Sixty Thousand Dollars and 00/100 ($60,000.00) available by immediate payment upon
presentation of Beneficiary's sight draft(s) in an amount not exceeding $60,000.00 and
each sight draft must bear the reference: "Drawn on MegaBank Irrevocable Letter
of Credit No. 653 dated August 10, 1999."
In addition, Beneficiary's sight draft(s) must be accompanied by this Irrevocable Letter of
Credit and an Affidavit of Certification in the form attached hereto as Exhibit A (the
"Affidavit"). The Affidavit shall certify that Customer is in default of an Agreement with
regard to the completion of landscaping around Ademar Batch Plant and the paving of the
frontage road leading to the plant at St. Acacius Subdivision, USR 1220. Upon
presentation of such affidavit in compliance with the terms contained herein, MegaBank
shall honor the accompanying sight draft(s) and shall not be required to determine
questions of fact or law between Beneficiary and Customer.
This Irrevocable Letter of Credit sets forth the full understanding of the parties hereto and
MegaBank hereby promises to Beneficiary that any drafts drawn under or in substantial
compliance with the terms of this Irrevocable Letter of Credit will be duly honored if
presented to MegaBank by either the date of release by Weld County of the final 15%, or
one year from the date of Final Plat approval, whichever occurs first. In any event, the
Letter of Credit shall remain in full force and effect until after the Board has received
sixty (60) days written notice from the Bank of the pending expiration. Said notice shall
be sent by Certified Mail to the Clerk of the Board of County Commissioners.
8100 E. Arapahoe Rd. • P.O. Box 3318 • Englewood, CO 80155 • 303/740-BANK (2265) • Fax: 303/741-4473
MegaBank°
Bank*thew"it=alto be!
Irrevocable Letter of Credit No. 653
August 10, 1999
Page Two
This Irrevocable Letter of Credit is non-transferable.
This Irrevocable Letter of Credit is subject to the Uniform Customs and Practice for
Documentary Credits (1993 Revision), International Chamber of Commerce Publication
No. 500.
Very truly yours,
MEpBANI
Darin Visscher
Loan Officer
DV/es
Darin E. Visscher
Loan Officer
MegaBank'
8100 E. Arapahoe Road
Englewood, CO 80112
Phone: 303/740-BANK (2265)
Direct: 303/713-3372
Fax: 303/741-4473
•
MegaBank®
Bankimg the a Wed m6,
AFFIDAVIT OF CERTIFICATION
STATE OF COLORADO
COUNTY OF
I, being duly sworn state as follows:
1. Title and Authority of Affiant. I am for
and am authorized to act on
behalf of in this matter.
2. Certification. Under penalty of law, I hereby certify that
. As a result, I
further certify that to the best of my knowledge and belief, is
entitled to a disbursement under Irrevocable Letter of Credit No. 653, pursuant to its
terms and conditions.
Subscribed and sworn to before me this day of , 19 by
Witness my hand and official seal.
Notary Public
My Commission Expires:
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4225
FAX: (970)352-0242
WI P. O. BOX 758
Ile GREELEY, COLORADO 80632
COLORADO
August 3, 2005
Francisco and Maclovio Martinez
aka El Hornito, Inc
P. O. Box 334
Firestone, Colorado 80520
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 was
returned to MegaBank, 8100 E. Arapahoe Road, P. O. Box 3318, Englewood, Colorado 80155.
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. Har i g,
Deputy Clerk to the Board
4(::-.1"t "1
:RK TO THE BOARD
E (970) 336-7215, Ext. 4225
'gFAX: (970) 352-0242
P. O. BOX 758
,.
EELEY, COLORADO 80632
COLORA
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August 3, 2005 -
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Francisco and M x +3 ,
aka El Hornito, Ir -
P. O. Box 334 i t3/ ` ��NN✓ .' -_
Firestone, Color N -
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RE: Cancella o _ -
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To Whom It May g — $ _ _
Attached hereto m 'E cov = _
L olution approving
the cancellation o o o c
� roc c - :tter of Credit was
returned to Meg a w 0° o = (r, , Colorado 80155.
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If you have quest w -rya LL — Ir.,, intact me at(970)
356-4000, Extensi qy
40
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Very truly yours, M •r
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BOARD OF COL 00 O t
By: 1 a o
Carol A. Har 2 p D i
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COLLATERAL RELEASED
IN CONJUNCTION WITH
OTHER CASES
SEE #2005-2091
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