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Home My WebLink About20041624.tiff RESOLUTION RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR SITE PLAN REVIEW#362 - STA LABORATORIES, INC. 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 May 20, 2003, the Board approved the application of STA Laboratories, Inc., 1821 Vista View Drive, Longmont, Colorado 80504, for a Site Plan Review#362 on the following described real estate, to wit: Lot 3, Block 1, Vista Commercial Center, First Filing; being part of the N1/2 of Section 8, Township 2 North, Range 68 West of the 6th P.M., Weld County, Colorado, and WHEREAS, on August 27, 2003, the Board of County Commissioner of Weld County, Colorado, approved an Improvements Agreement According to Policy Regarding Collateral for Improvements (Private Road Maintenance) for between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and STA Laboratories, Inc. with terms and conditions being as stated in said agreement, and accept Irrevocable Standby Letter of Credit#00336530, drawn on Bank One, NA, Global Trade Services, One Bank One Plaza, Mail Code IL1-0236, Chicago, Illinois 60670, in the amount of$79,539.00, and WHEREAS, staff from the Weld County Departments of Public Works and Planning Services have 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#00336530, drawn on Bank One, NA, Global Trade Services, in the amount of$79,539.00 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. 2004-1624 PL1685 CANCEL COLLATERAL - STA LABORATORIES, INC. PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 16th day of June, A.D., 2004. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO LU,4d Robert D. Masden, Chair 1861 =.'-. ' •ou t Clerk to the Board William H. erke, Pro-Tern ®0. .. duty Clerk to the Board M. eile RO D A O FOR(N: zy" /�-y David . Long o6nicittdrney Glenn Vaad Date of signature: A "x.71''9 2004-1624 PL1685 (2,7 MEMORANDUM inkTO: Board of County Commissioners 6/11/04 COLORADO FROM: Chris Gathman, Planner II SUBJECT: Release of Collateral for SPR-362 (STA Laboratories, Inc.) * On August 20, 2003, the Board of County Commissioners accepted collateral in the amount of Seventy-Nine Thousand Five-Hundred Thirty-Nine Dollars ($79,539.00) for site grading, street grading, street base, street paving, curbs, gutters and culverts, sidewalk improvements and landscaping. * Don Carroll with the Department of Public Works has indicated that all access, parking, sidewalk and curb and gutter improvements have been completed and recommends release of this collateral. * The Department of Planning Services has determined that landscaping improvements have been completed and recommends release of this collateral. * The Departments of Public Works and Planning Services recommend that the entire amount of this collateral be released. SERVICE,TEAMWORK,INTEGRITY,QUALITY Bank One,NA BANK ONE. Global Trade Services One Bank One Plaza Mail Code IL1-0236 Chicago, IL 60670 Tel:(312)954-1969 Fax:(312)954-0203 SWIFT:FNBCUS44 Telex:ITT4320060 DATE: MARCH 10, 2004 NOTICE OF EXPIRY BENEFICIARY: BOARD OF COUNTY COMMISSIONERS 915 10TH STREET ATTN: CLERK TO THE BOARD GREELEY,CO 80631 APPLICANT: STA LABORATORIES,INC. 1821 VISA VIEW DRIVE LONGMONT,CO 80504 RE: OUR STANDBY LETTER OF CREDIT NO. 00336530 PRESENTLY FOR AN AMOUNT OF $79,539.00 ISSUED IN YOUR FAVOR FOR THE ACCOUNT OF STA LABORATORIES,INC. BE ADVISED THAT IN ACCORDANCE WITH THE LETTER OF CREDIT TERMS WE HEREBY SERVE NOTICE THAT THE REFERENCED LETTER OF CREDIT WILL EXPIRE ON JUNE 20, 2004 WITH OUR CLOSE OF BUSINESS AT 300 SOUTH RIVERSIDE PLAZA, 7TH FLOOR SOUTH, MAIL CODE IL1-0236, CHICAGO, ILLINOIS, 60606 ATTN: STANDBY LETTER OF CREDIT DEPT. ANY DRAWING RECEIVED AFTER JUNE 20, 2004 WILL BE REFUSED. PLEASE RETURN THE ORIGINAL LETTER OF CREDIT AND ALL AMENDMENTS UPON EXPIRATION. FAILURE TO RETURN THE ORIGINAL LETTER OF CREDIT AND AMENDMENTS WILL HAVE NO EFFECT AND OUR LETTER OF CREDIT WILL BE CONSIDERED EXPIRED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOLANDA FOSTER AT 312-954-2881. YOURS VERY TRULY, BANK ONE,NA AU HORIZED SIGNER CC: STA LABORATORIES,INC. Sun Construction & Design Services, Inc . General Contractors Weld County Planning, Department GREELEY OFFICE MAY 1 1 2004 May 10, 2004 RECEIVED Mr. Chris Gathman Phone: 970-353-6100 Planner II Fax: 970-304-6498 Weld County Department of Planning Services 1555 N. 17th Avenue Greeley, CO. 80631 Re: SPR-362 Site Plan Review for greenhouse facilities for the research of seeds and plants located on a parcel of land described as Lot 3, Block 1 — Vista Commercial Center— 1'`. Filing; part N2 Section 8, T2N R68W of the 6'h P.M., Weld County, Colorado. Dear Chris: Per the instructions on your phone message of 05-07-2004, Sun Construction & Design Services Inc. on behalf of STA Laboratories Inc is requesting release of the improvements associated with the letter of credit dated June 30, 2003. The improvements covered by the letter of credit have been completed per the approved plans. Thank you. Sincerely, Sun Construction & Design Services Inc. George E. Warner Project Manager Cc: Darrell A. Maddox STA Laboratories Inc. 1232 Boston Avenue • Longmont, CO 80501 • (303) 772-6776 • (303) 444-4780 • FAX: (303) 444-6774 a ota CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 WI D FAX: (970) 352-0242 CP. 0. BOX 758 GREELEY, COLORADO 80632 COLORADO August 13, 2004 STA Laboratories, Inc. 1821 Vista View Drive Longmont, CO 80504 RE: Cancellation and release of Collateral Letter of Credit#00336530 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 your collateral. The original Irrevocable Letter of Credit #00336530 has been returned to Bank One, NA, ATTN: Standby Letter of Credit Unit, 300 S. Riverside Plaza, 7th Floor, Mail Code IL1-0236, Chicago, Illinois 60606-0236. 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: /ggiS�� -� c- Carol A. Hard ng, Deputy Clerk to the Board geo1/-jLad] IVffS CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 O GREELEY, COLORADO 80632 COLORADO August 13, 2004 BANK ONE, NA ATTN: STANDBY LETTER OF CREDIT UNIT 300 S RIVERSIDE PLAZA, 7TH FLOOR MAIL CODE IL1-0236 CHICAGO, IL 60606-0236 RE: Letter of Credit No. 00336530 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 being held in conjunction with Site Plan Review#362, STA Laboratories, Inc. 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 gc^ny-i6ai1 i I to TS— BANK=ONE® Bank One,NA Global Trade Services One Bank One Plaza Mail Code IL1-0236 Chicago,IL 60670 Tel:(800)634-1969 Fax:(312)954-0203 SWIFT:FNBCUS44 Telex:ITT4330253 FNBCUI IRREVOCABLE STANDBY LETTER OF CREDIT DATE JULY 29,2003 BENEFICIARY: DRAFTS DRAWN MUST BE MARKED: BOARD OF COUNTY COMMISSIONERS WITH OUR REF 00336530 915 10TH STREET OPENER'S REFERENCE Na GREELEY,CO 80631 00336530 ATTN:CLERK TO THE BOARD GENTLEMEN: BY THE ORDER OF: APPLICANT: STA LABORATORIES,INC. 1821 VISTA VIEW DRIVE LONGMONT,CO 80504 WE HEREBY ISSUE OUR IRREVOCABLE CREDIT Na 00336530 IN YOUR FAVOR FOR THE ACCOUNT OF STA LABORATORIES,INC. FOR AN AMOUNT OR AMOUNTS NOT TO EXCEED THE AGGREGATE U.S.DOLLARS 79,539.00(SEVENTY NINE THOUSAND FIVE HUNDRED THIRTY NINE AND NO/100 U.S.DOLLARS) AVAILABLE BY YOUR DRAFTS AT SIGHT ON BANK ONE,NA,CHICAGO;ILLINOIS,EFFECTIVE JULY 29,2003 AND EXPIRING AT OUR COUNTERS ON JUNE 20,2004. EACH DRAFT SO DRAWN MUST BE MARKED "DRAWN UNDER BANK ONE, NA, LETTER OF CREDIT NO. 00336530" AND BE ACCOMPANIED BY - A "SIGNED STATEMENT FROM THE BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO STATING THAT STA LABORATORIES, INC. HAS COMMITTED A MATERIAL BREACH OF THE IMPROVEMENTS AGREEMENT REGARDING GRADING AND LANDSCAPING OF THE SUBDIVISION OR PLANNED UNIT DEVELOPMENT IMPROVEMENTS". THIS LETTER OF CREDIT SHALL EXPIRE ON JUNE 20,2004,AS STATED HEREIN ABOVE;PROVIDED HOWEVER,THAT WE SHALL NOTIFY BY COURIER AT LEAST SIXTY(60)DAYS PRIOR TO SAID EXPIRATION DATE,THAT THIS LETI'ER OF CREDIT IS ABOUT TO EXPIRE.IN NO EVENT SHALL THIS LE 11'hR OF CREDIT OR THE OBLIGATIONS CONTAINED HEREIN EXPIRE EXCEPT UPON THE PRIOR WRITTEN NOTICE REQUIRED HEREIN,IT BEING EXPRESSLY AGREED THAT THE ABOVE EXPIRATION DATE SHALL BE EXTENDED AS SHALL BE REQUIRED TO COMPLY WITH PRIOR WRITTEN NOTICE REQUIRED HEREIN. THE CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS(1993 REVISION),INTERNATIONAL CHAMBER OF COMMERCE-PUBLICATION NO 500. WE ENGAGE WITH YOU THAT DRAFTS DRAWN UNDER AND IN CONFORMITY WITH THE TERMS OF THIS CREDIT WILL BE DULY HONORED ON PRESENTATION IF PRESENTED TO:BANK ONE,NA,ATTN:STANDBY LETTER OF CREDIT UNIT,300 S.RIVERSIDE PLAZA,7TH FLOOR,MAIL CODE ILl-0236,CHICAGO,IL 60606-0236, ON OR BEFORE THE EXPIRY DATE.THE ORIGINAL LETTER OF CREDIT AND AMENDMENT(S),IF ANY,MUST ACCOMPANY THE DOCUMENTS REQUIRED UNDER THIS CREDIT. (CONTINUED) PAGE 1 OF 2 BANK=ONE® Bank One,NA Global Trade Services One Bank One Plaza Mail Code ILI-0236 Chicago,IL 60670 Tel:(800)634-1969 Fax:(312)954-0203 SWIFT:FNBCUS44 Telex:1TT4330253 FNBCUI. LETTER OF CREDIT NO. 00336530 DATE: JULY 29,2003 PLEASE ADDRESS ALL CORRESPONDENCE REGARDING THIS LETTER OF CREDIT TO BANK ONE,NA-ATTN: STANDBY LETTER OF CREDIT UNIT,300 S.RIVERSIDE PLAZA,7TH FLOOR,MAIL CODE IL1-0236,CHICAGO,IL 60606-0236,MENTIONING OUR REFERENCE NUMBER AS IT APPEARS ABOVE. VERY TRULY YOURS, (AUTHO ED S ATURE) (AUTHORIZED SIGNATURE) Hello