The URL can be used to link to this page

Browse Search

Home My WebLink About20052672 CLERK TO THE BOARD PHONE (970)336-7215, Ext. 4225 I FAX: (970)352-0242 P. O. BOX 758 C. GREELEY, COLORADO 80632 COLORADO August 5, 2005 National Hog Farms, Inc. ATTN: Carla P. O. Box 1930 Greeley, Colorado 80631 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, for the benefit of the State of Colorado. The original Letter of Credit was returned to Wells Fargo Bank,Trade Services Division, One Front Street, 21st Floor, San Francisco, California 94111. Also enclosed is a copy of the amended and restated Letter of Credit, the original of which was sent to the Colorado Department of Public Health and Environment. 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: is /, ✓ �c� Carol AHarding, c-� Deputy Clerk to the Board C2Aisem- A6a ML�a1 - 2005-2672 iY�1)672 pAst , CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 IFAX: (970) 352-0242 WI g C P. O. BOX 758 GREELEY, COLORADO 80632 COLORADO August 5, 2005 Wells Fargo Bank, Trade Services Division One Front Street, 21st Floor San Francisco, California 94111 RE: Cancellation and release of Collateral - National Hog Farm, Inc. To Whom It May Concern: Enclosed herewith please find the original Letter of Credit NZS341459. Said letter has been amended and restated, and the original has been signed by the Board of County Commissioners Chairman and then forwarded to the Colorado Department of Public Health. If you have questions or need additional information, please do not hesitate to contact me at (970) 3564000, Extension 4217. Very truly yours, BOARD OF COUNTY COMMISSIONERS By:14;‘,L-42--,747. 7. Carol A. Harding, Deputy Clerk to the Board International Trade Services 525 Market Street,25th Floor San Francisco,CA 94105 WELLS FARGO WELLS FARGO BANK, N.A. TRADE SERVICES DIVISION, NORTHERN CALIFORNIA 525 Market Street, 25th Floor San Francisco, California 94105 Telephone Nos.: (415) 396-4014 and (415) 396-5458 C IRREVOCABLE LETTER OF CREDIT Beneficiary: The Board of County Commissioners Letter of Credit No. NZS341459 of the County of Weld and Date: January 14, 2000 Weld County Health Department 1517 16th Avenue Court Greeley, Colorado 80631 Ladies and Gentlemen: We hereby establish our irrevocable Letter of Credit in your favor for the account of National Farms, Inc. and National Hog Farms, Inc. ("National") do National Farms, Inc., 1600 Genessee, Suite 846, Kansas City, MO 64102 in the amount of Two Hundred Fifty Thousand and 00/100 United States Dollars (US$250,000.00). This Letter of Credit is available with us at our above office by payment of your draft drawn on us at sight accompanied by your signed and dated statement worded as follows : "The undersigned, an authorized official of The Board of County Commissioners of Weld County, Colorado, hereby certifies that National Farms, Inc. and National Hog Farms, Inc. ("National") has committed a material breach of the Related Agreements dated February 21, 1990 by and between National Farms, Inc. and National Hog Farms, Inc., ("National") and the Board of County Commissioners of the County of Weld and the Weld County Health Department ("Weld County")." Only one draft may be drawn and presented under the Letter of Credit and the draft must be for the full amount of the Letter of Credit. The draft must be marked: "Drawn under Wells Fargo Bank, N.A. Letter of Credit No. NZS341459." This Letter of Credit expires at our above office on January 14, 2001 , but shall be automatically extended, without written amendment, to January 14 in each succeeding calendar year unless we have sent written notice to you at your address above by registered mail or express courier that we elect not to renew this Letter of Credit beyond the date specified in such notice, which expiration date will be January 14, 2001 or any subject January 14 and be at least sixty (60) calendar days after the date we send you such notice. 1 This is an integral part of our Letter of Credit No. NZS341459 Upon our sending you such notice of non-renewal of the expiration date of this Letter of Credit, you may also draw hereunder by presentation to us at our above address, on or before the expiration date specified in such notice, of your draft drawn on us at sight accompanied by your signed and dated statement worded as follows: "We hereby certify that we have received notice from Wells Fargo Bank, N.A. that Letter of Credit No. NZS341459 will not be renewed beyond its current expiration date and that National Farms, Inc. and National Hog Farms, Inc. has failed to provide proof of adequate collateral in substitution of this Letter of Credit." If any instructions accompanying a drawing under this Letter of Credit request that payment is to be made by transfer to an account with us or at another bank, we and/or such other bank may rely on an account number specified in such instructions even if the number identifies a person or entity different from the intended payee. Each draft presented hereunder must be accompanied by this original credit for our endorsement thereon of the amount of such draft. This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500 (the "UCP") and engages us with the terms thereof. Very truly yours, WELLS FARGO BANK, N. A. By: (Authorized Signat JAMES a SIN^ 2 FAX TRANSMISSION COLORADO Weld County Clerk to the Board PO Box 758 Greeley,CO 80632 Fax: 970-352-0242 Phone:970-336-7215,ext.4217 To: Wells Fargo Bank Date: August 5,2005 Fax: (415)296-8905 Pages: 2 +Cover From: Carol Harding, Deputy Clerk to the Board Subject: Letter of Credit COMMENTS: The original letter of credit has been forwarded to the Colorado Department of Public Health and Environment,per your instructions. CONFIDENTIAL This facsimile is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential, and exempt from disclosure under applicable law. If the reader of this facsimile is not the intended recipient nor the employee or agent responsible for delivering the facsimile to the intended recipient, you are hereby notified that any dissemination, distribution, or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by telephone and return the original message to us at the above address via the U.S.Postal Service. Thank you. WELLS FARGO BANK,N.A. TRADE SERVICES DIVISION,NORTHERN CALIFORNIA ONE FRONT STREET,21ST FLOOR SAN FRANCISCO,CALIFORNIA 94111 Contact Phone: 1(800)798-2815(Option 1) Email : sftradena,wellsfargo.com AMENDED AND RESTATED LETTER OF CREDIT The Board of County Commissioners Letter of Credit No.NZS341459 Of Weld County and Date: July 12,2005 Weld County Health Department Applicant:National Hog Farms,Inc. 1517 16th Avenue Court Amendment No. 2 Greeley, CO 80631 Ladies and Gentlemen: This Amendment is to be considered as part of the above Letter of Credit and must be attached thereto. The text of the above mentioned Letter of Credit is deleted in its entirety and replaced by the following: Quote IRREVOCABLE LETTER OF CREDIT • Director _ � P Colorado k s� Department of Public Health and Environment t.J 2/St Water Quality Control Division 4300 Cherry Creek Drive South Denver, CO 80246-1530 Dear Sir or Madam: We hereby establish our Irrevocable Standby Letter of Credit No.NZS341459 in your favor, at the request and for the account of National Hog Farms,Inc., .30130 WCR#49,Greeley, CO 80631 up to the aggregate amount of Two Hundred Fifty Thousand U.S.Dollars(US$250,000.00),available upon presentation by you of: (1) Your sight draft,bearing reference to this letter of credit no.NZS341459, and (2) Your signed statement reading as follows: "I certify that the amount of the draft is payable pursuant to regulations issued under authority of the Colorado Water Quality Control Act,as amended." This letter of credit is effective as of January 14,2000,and shall expire on January 14,2006, but such expiration date shall be automatically extended for a period of one year on January 14, 2006 and on each successive expiration date,unless, at least 120 days before the current expiration date, we notify both you and National Hog Farms,Inc.by certified mail that we have decided not to extend this letter of credit beyond the current expiration date.In the event you are so notified, any unused portion of the credit shall be available upon presentation of your sight draft for 120 days after the date of receipt by both you and National Hog Farms, Inc.,as shown on the signed return receipts. 1 Whenever this letter of credit is drawn on under and in compliance with the terms of this credit,we shall duly honor such draft upon presentation to us,and we shall deposit the specified amount of the draft directly into the standby trust fund of National Hog Farms,Inc. in accordance with your instructions,unless an alternate mechanism has been established by the State of Colorado to directly receive monies.. This credit is subject to the most recent edition of the Uniform Customs and Practice for Documentary Credits,published by the International Chamber of Commerce. Autho�gnatfue Name: Brian T. O'Connell Title: Vice President Date: July 12, 2005 Unquote EL / Very truly yours air , of o n WELLS FARGO BANK,N.A. 1861 �• � BY: `S .UNTY CLE K THE BOARD AII1H D SIGNATURE) ‘1.1 BRIAN T.O'CONNELL .VICE PRESIDENT DEPUTY CLE'K TO THE BOARD \ , Please note that the terms of this amendment are subject to your consent.Therefore,if the amendment is acceptable to you,please signify your agreement by signing the attached copy in the space provided and returning it to us by facsimile to fax no.415-296-8905 to the Attention of Bill Chiesa. Your agreement will signify that you have attached this amendment to the Letter of Credit dated January 14,2000 and amendment no. 1 dated June 29, 2004 and have forwarded the Letter of Credit in its entirety to the Colorado Department of Public Health and Environment at their address above. If it is not acceptable to you,please so advise us immediately. 2 • st- 7 a V June 8, 2005 Board of County Commissioners of Weld County and the Weld County Health Department 1517 16th Ave. Greeley, CO 80631 Dear Ladies and Gentlemen: Attached hereto is an Irrevocable Letter of Credit drawn on Wells Fargo Bank, N.A. which relates to the activities of National Hog Farms. Inc. National Hog Farms, Inc. has been working with the Colorado Department of Health with respect to the remediation of the property owned by National Hog Farms, Inc. The State of Colorado Health Department has asked that National Hog Farms, Inc. provide a letter of credit in order to secure the remediation efforts they have suggested relating to the National Hog Farms, Inc. property. I would appreciate your allowing the transfer of the letter of credit currently on deposit with Weld County to be transferred to the State of Colorado and to secure performance of remediation plan developed by the State of Colorado for National Hog Farms, Inc. Should you have any questions concerning this matter please contact me. Sincerely, Cervi Enterprises, It By: � Mike Cervi, ' ent Office (970) 356-6000 PO Box 1930 MINE E Rv+ Fax (970) 356-6006 Greeley, CO 80632-1930 Home (303) 849-5533 COLLATERAL RELEASED IN CONJUNCTION WITH OTHER CASES SEE #2005-2091 Hello