HomeMy WebLinkAbout20010818.tiff RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS AND ACCEPT FORM OF COLLATERAL FOR
SITE PLAN REVIEW#315 - KEN WILLIAMSON, DBA KING'S COURT PROPERTIES,
LLLP
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 February 4, 2000, the Department of Planning Services staff did
approve a Site Plan, SPR #315, for Ken Williamson, dba King's Court Properties, LLLP, 14504
1-25 Frontage Road, Longmont, Colorado 80504, for a Recreational Vehicle Sales Lot on the
following described real estate, to-wit:
Lot 12, Block 2, Amended Plat of Rademacher
Business Park Planned Unit Development; located
in the NW1/4 of Section 23, Township 3 North,
Range 68 West of 6th P.M., Weld County,
Colorado
WHEREAS, pursuant to certain Conditions of Approval, the Board has been presented
with an Improvements Agreement According to Policy Regarding Collateral for Improvements
between the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, and Ken Williamson, dba King's Court Properties, LLLP, with
terms and conditions being as stated in said agreement, and
WHEREAS, the Board has been presented with Irrevocable Standby Letter of Credit
#S407521 from Norwest Bank Minnesota, N.A. (Wells Fargo Bank), 109 South 7th Street,
Minneapolis, MN 55402, in the amount of$10,000.00, as well as an amendment in the amount
of$14,715.00, and
WHEREAS, after review, the Board deems it advisable to approve said agreement and
accept said Irrevocable Standby Letter of Credit and Amendment as stated above, copies of
which are attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Improvements Agreement According to Policy Regarding
Collateral for Improvements between the County of Weld, State of Colorado, by and through
the Board of County Commissioners of Weld County, and Ken Williamson, dba King's Court
Properties, LLLP, be, and hereby is, approved.
2001-0818
PL1452
PC', Pt, Pw , k
IMPROVEMENTS AGREEMENT - KEN WILLIAMSON, DBA KING'S COURT PROPERTIES,
LLLP (SPR#315)
PAGE 2
BE IT FURTHER RESOLVED that Irrevocable Standby Letter of Credit#S407521 from
Norwest Bank Minnesota, N.A. (Wells Fargo Bank), 109 South 7th Street, Minneapolis, MN
55402, in the amount of$10,000.00, as well as an amendment to said Irrevocable Standby
Letter of Credit#S407521 in the amount of$14,715.00, be and hereby are, accepted.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 9th day of April, A.D., 2001.
BOARD OF COUNTY COMMISSIONERS
/1 l,s40"� WELD COU TY, COLORADO
�g ATTEST: Inculd
(/ J. eile, C air
Weld County Clerk to the :ea ' ( -i$ 4I
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• Glenn d, m
BY: ic v,� , moo. !- .�/E; H°�'
Deputy Clerk to the Board s I✓✓ e
Willi . Jerke
APP D AS ORM:
David E. Long
unty Attorn y EXCUSED DATE OF SIGNI G (AYE)
Robert D. Masden
2001-0818
PL1452
` IMPROVEMENTS AGREEMENT ACCORDING TO
J POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
THIS AGREEMENT, made and entered into this 9th day of April , 2001 by and
between the County of Weld, State of Colorado, acting through its Board of County Commissioners,
hereinafter called"County", and Kings Court Properties, LLLP, a Colorado Limited Liability Limited
Partnership,hereinafter called "Applicant".
WITNESSETH:
WHEREAS, Applicant is the owner of the following described property in the County of Weld,
State of Colorado:
Lot 12, Block 2,Amended Plat of Rademacher Business Park P.U.D.;
WHEREAS, a Site Plan Review for use of the above referenced property as a recreational
vehicle sales lot has been submitted to the County for approval and approved by administrative review
conditioned upon the Site Plan Review Plat being amended as required and required notes being inserted
therein and further conditioned upon the execution of this Agreement guaranteeing the construction of
several of the improvements shown on the plans, plats and supporting documents for the property, which
improvements, along with a time schedule for completion, are listed in Exhibits"A" and"B"of this
Agreement.
NOW,THEREFORE,IN CONSIDERATION OF the foregoing and of the acceptance and
approval of Site Plan Review Plat and other terms and conditions herein, the parties hereto promise,
covenant and agree as follows:
1.0 Engineering Services: Applicant shall furnish, at its own expense, all engineering services in
connection with the design and construction of the subdivision improvements shown on the Site
Plan Review. The asterisked improvements costs shown on Exhibit "A"which is attached hereto
and made a part hereof by this reference are"public" improvements subject to being
collateralized as hereinafter set forth and the completion date of such improvements is shown on
the cost breakdown attached as Exhibit"B".
1.1 The required engineering services shall be performed by a Professional Engineer and
Land Surveyor registered in the State of Colorado, and shall conform to the standards and
criteria established by the County for public improvements.
1.2 The required engineering services shall consist of, but not be limited to, surveys, designs,
plans, profiles, estimates, construction supervision, and the submission of necessary
documents to the County.
1.3 Applicant shall furnish drawings and cost estimates for roads withing the Subdivision or
Planned Unit Development to the County for approval prior to the letting of any
construction contract. Applicant shall furnish one set of reproducible"as-built"drawings
and a final statement of construction cost to the County.
2.0 Construction: Applicant shall furnish and install, at its own expense, the Subdivision or Planned
Unit Development improvements listed on Exhibit"A", which is attached hereto and incorporated
herein by reference, according to the construction schedule set out in Exhibit"B"which is also
attached hereto and incorporated herein by reference.
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2.1 Said construction shall be in strict conformance to the plans and drawings approved by the
County and the specifications adopted by the County for such public improvements.
Whenever a Subdivision or Planned Unit Development is proposed within three miles of
an incorporated community located in Weld County or located in any adjacent county, the
Applicant shall be required to install improvements in accordance with the requirement s
and standards that would exist if the plat were developed within the corporate limits of
that community. If the incorporated community has not adopted such requirements and
standards at the time the Subdivision or Planned Unit Development is proposed, the
requirements and standards of the County shall be adhered to. If both the incorporated
community and the County have requirements and standards, those requirements and
standards that are more restrictive apply.
2.2 Applicant shall employ, at its own expense, a qualified testing company previously
approved by the County to perform all testing of materials or construction that is required
by the County; and shall furnish copies of test results to the County.
2.3 At all times during said construction,the County shall have the right to test and inspect, or
to require testing and inspection of materials and work at Applicant's expense. Any
material or work not conforming to the approved plans and specifications shall be
removed and replaced to the satisfaction of the County at Applicant's expense.
2.4 Applicant shall furnish proof that proper arrangements have been made for the installation
of sanitary sewer or septic systems,water, gas, electric and telephone services.
2.5 Said Subdivision or Planned Unit Development improvements shall be completed,
according to the terms of the Agreement, within the construction schedule appearing in
Exhibit"B". The Board of County Commissioners, at its option, may grant an extension
of the time of completion shown on Exhibit"B" upon application by the Applicant
subject to the terms of Section 6 herein.
3.0 Release of Liability: Applicant shall indemnify and hold harmless the County from any and all
liability, loss, damage and expense the County may suffer as a result of all suits, actions or claims
of every nature and description caused by, arising from, or on account of said design and
construction of improvements, and pay any and all judgments rendered against the County on
account of any such suit, action or claim,together with reasonable expenses and attorney fees
incurred by the County in defending such suit, action or claim whether the liability, loss or
damage is caused by, or arises out of negligence of the County or its officers, agents, employees
or otherwise, except for the liability, loss or damage arising from the intentional torts or the gross
negligence of the County or its employees while acting within the scope of their employment. All
contractors and other employees engaged in construction of the improvements shall maintain
adequate worker's compensation insurance and public liability insurance coverage, and shall
operate in strict conformance with the laws and regulations of the State of Colorado governing
occupational safety and health.
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4.0 General Requirements for Collateral:
4.1 The value of collateral submitted to Weld County must be equivalent to One-Hundred
percent(100%) of the value of the improvements as shown in this Agreement. Prior to
Site Plan Review Plat approval, the applicant shall indicate which of the five types of
collateral preferred to be utilized to secure the improvements subject to the final approval
by the Board of County Commissioners and the execution of this Agreement. Acceptable
collateral shall be submitted and the plat recorded within six(6)months of the Site Plan
Review Plat approval and all preliminary approvals shall automatically expire. Applicant
may request that the County extend the Site Plan Review Plat approval provided the cost
estimates are updated and the development plans are revised to comply with all current
County standards,policies and regulations. The improvements shall be completed within
one(11 year after the Site Plan Review Plat approval(not one year after acceptable
collateral is submitted)unless the applicant(s)requests that this Agreement be renewed at
least thirty(30)days prior to its expiration and further provides that cost estimates for the
remaining improvements are updated and collateral is provided in the amount of One-
Hundred percent(100%1 of the value of the improvements remaining to be completed.
If improvements are not completed and the agreement not renewed within these time
frames,the County, at its discretion, may make demand on all or a portion of the
collateral and take steps to see that the improvements are made.
4.2 The applicant intends to develop in accordance with e Exhibits"A" and"B".
5.0 Improvements Guarantee: The type of collateral listed below is acceptable to Weld County subject
to final approval by the Board of County Commissioners.
5.1 An irrevocable Letter of Credit from a Federal or State licensed financial institution on a
form approved by Weld County. The Letter of Credit shall state at least the following:
5.1.1 The Letter of Credit shall be in a n amount equivalent to One-Hundred percent
(100%)of the total value of the asterisked improvements as set forth in Exhibits
"A"and"B".
5.1.2 The Letter of Credit shall provide for payment upon demand to Weld County if
the developer has not performed the obligations specified in the Improvement
Agreement and the issuer has been notified of such default.
5.1.3 The applicant may draw from the Letter of Credit in accordance with the
provisions of this policy.
5.1.4 The issuer of the Letter of Credit shall guarantee that at all times the unreleased
portion of the Letter of Credit shall be equal to a minimum of One-Hundred
percent(100%)of the estimated costs of completing the uncompleted portions of
the required improvements,based on inspections of the development by the
issuer. In no case shall disbursement for a general improvement item exceed the
cost estimate in the Improvements Agreement(i.e., streets, sewers, water mains
and landscaping, etc.). The issuer of the Letter of Credit will sign the
Improvements Agreement acknowledging the agreement and its cost estimates.
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5.1.5 The Letter of Credit shall specify that fifteen percent(15%)of the total Letter of
Credit amount cannot be drawn upon and will remain available to Weld County
until released by Weld County.
5.1.6 The Letter of Credit shall specify that the date of proposed expiration of the
Letter of Credit shall be either the date of release by Weld County of the final
fifteen percent(15%), or one year from the date of Site Plan Review Plat
approval, whichever occurs first. Said Letter shall stipulate that, 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 issuer of the Letter of Credit of
the pending expiration. Said notice shall be sent by certified mail to the Clerk to
the Board of County Commissioners.
6.0 Request for Release of Collateral: Prior to release of the collateral for the entire project
or for a portion of the project by Weld County,the Applicant must present a Statement of
Substantial Compliance from an Engineer registered in Colorado that the project or a
portion of the project has been completed in substantial compliance with the approved
plans and specifications documenting the following:
6.1 The Engineer or his representative has made regular on-site inspections during the course
of construction and that the construction plans utilized are the same as those approved by
Weld County.
6.2 Test results must be submitted for all phases of this project as per Colorado Department
of Transportation Schedule for minimum materials sampling, testing and inspections
found in the Colorado Department of Transportation(CDOT)Materials Manual.
6.3 "As built"plans shall be submitted at the time the letter requesting release of collateral is
submitted. The Engineer shall certify that the project"as built" is in substantial
compliance with the plans and specifications as approved or that any material deviations
have received prior approval from the County Engineer.
6.4 The Statement of Substantial Compliance must be accompanied, if appropriate, by a letter
of acceptance of maintenance and responsibility by the appropriate utility company,
special district or town for any utilities.
6.5 A letter must be submitted from the appropriate Fire Authority indicating the fire
hydrants are in place in accordance with the approved plans. The letter shall indicate if
the fire hydrants are operational and state the results of fire flow tests.
6.6 The requirements in paragraphs 6.0 thru 6.5 shall be noted on the final construction plans.
6.7 Following the submittal of the Statement of Substantial Compliance and recommendation
of approval of the streets by the County,the applicant(s)may request release of the
collateral for the project or portion of the project by the Board. This action will be taken
at a regularly scheduled public meeting of the Board.
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6.8 The request for release of collateral shall be accompanied by"Warranty Collateral"in the
amount of fifteen percent(15%)of the value of the improvements as shown in the
Agreement excluding improvements fully accepted for maintenance by the responsible
governmental entity, special district or utility company.
6.9 The warranty collateral shall be released to the applicant upon final approval by the Board
of County Commissioner.
7.0 Successors and Assigns: This Agreement shall be binding upon the heirs, executors,personal
representatives, successors and assigns of the Applicant, and upon recording by the County, shall
be deemed a covenant running with the land herein described, and shall be binding upon the
successors in ownership of said land.
IN WITNESS WHEREOF, the parties hereto have caused this Improvements Agreement to be
executed on the day and year first above written.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ttb../'
M. J./Geile, Chair (04/09/2001)
1E,L/A, Glenn Vaad, Cha3r�rotem
ATTEST: jatet f 1 �J
t 1861 (( =lV• iggi=; _ ! /l. e
Weld County Clerk to the B�
w � Wil H. Jerke
BY: • �� J., �
Deputy Clerk to the Board David E. Long
Robert D. Masden
APPROVED AS TO FORM:
unty orn
APPLICANT' gs Court Pr rties,LLLP
enneth A. Williamson, General Partner
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Subscribed and sworn to before me tbise-2-g day of `mil` " Ye/eV
My commission expires: O_6-:67.7-,24-167
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PWLK1orld10 �c� Gam/
CONIMINN
siu o o w Notary Public
Cr
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EXHIBIT"B"
Name of Subdivision: Amended Plat of Rademacher Business Park Final P.U.D.
Location: Lot 12. Block 2:N.W. 1/4 Sec. 23, T. 3N., R. 68W. Weld County. CO
Intending to be legally bound, the undersigned Applicant hereby agrees to provide the improvements
shown on the Site Plan Review Plat according to the following schedule:
All improvements shall be completed within 1 year from the date of approval of the Site Plan
Review Plat
Construction of the improvements listed in Exhibit"A" shall be completed as follows:
Improvements Time for Completion
Grading, Site Completed
Base. Site September 1. 2001
Paving. Site September 15. 2001
Curbs. gutters,&culverts September 15. 2001
Storm sewer facilities September 15, 2001
Retention ponds Completed
Water mains-Includes Bore Completed
Fire hydrants September 10, 2001
Lighting. Site October 10. 2001
Fencing requirements October 15, 2001
Landscaping October 20. 2001
Grass Lined Swale October 10,2001
The County, at its option, and upon the request by Applicant,may grant an extension of time for
completion for any particular improvements shown above, upon a showing by Applicant that the above
schedule cannot be met.
APPLICAN : Kings Court Properties, LLLP
B ' 4 H 413 Date: 3 .a 3 " I)/ , 2001
enneth A. Williamson, General Partner
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EXHIBIT"A"
Name of Subdivision: Amended Plat of Rademacher Business Park Final P.U.D.
Location: Lot 12,Block 2:N.W. 1/4 Sec. 23. T. 3N.,R. 68W. Weld County, CO
Intending to be legally bound, the undersigned Applicant hereby agrees to provide the improvements
shown on the Site Plan Review Plat according to the following schedule:
All improvements shall be completed within 1 year from the date of approval of the Site Plan
Review Plat
Estimated
Improvements Unit Cost Construction Cost
Grading, Site $2,000 LS $2,000.00
Base. Site $ 8 TON 81,900.00
Paving, Site $ 26 TON 92,950.00
Curbs, gutters. &culverts $ 25 LF 5,000.00
Storm sewer facilities $2,500 LS 2.500.00*
Retention ponds $1,500 LS 1.500.00*
Water mains -Includes Bore $ 12 LF 4,200.00*
Fire hydrants $2.500 EA 5,000.00*
Lighting, Site $2,500 EA Pole 35,000.00
Fencing requirements $ 15 LF 30,000.00
Landscaping $10,000 LS 10,000.00*
Grass Lined Swale $ 3 LF 1,515.00*
SUB-TOTAL $271,565.00
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Engineering and Supervision Costs: $14,000.00
(testing inspection, as-built plans and work in addition to preliminary and Site Plan Review Plat;
supervision of actual construction by contractors)
TOTAL ESTIMATED COST OF
IMPROVEMENTS AND SUPERVISION: $285,565.00
The above improvements shall be constructed in accordance with all County requirements and specifications,
and conformance with this provision shall be determined solely by Weld County, or its duly authorized agent.
Said improvements shall be completed according to the construction schedule set out in Exhibit"B".
APPLICANT- Kings Court Properties, LLLP
BY- • Date: 3 a3 , 2001
enneth A. Williamson,General Partner
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MEMORANDUI ':
Wi`,P c. To: Board of County Commissioners Dafe ivi l 222011 2: 3r
COLORADO From: Kim Ogle, Planner I I , RFC'
,
h RFC' .
Subject: Ken Williamson, d.b.a. King's Court Properties, LLLP
Acceptance of Irrevocable Letter of Credit
Site Plan Review 315
The Weld County Attorney's office approved the form of an Irrevocable Letter of Credit, April 2,
2001 for Ken Williamson, d.b.a. King's Court Properties, LLLP for the construction of an outdoor
Recreational Vehicle Sales facility, case number SPR-315, in the amount of ten thousand dollars
and no/100s ($10,000.00) and the supplemental Letter of Credit for fourteen thousand seven
hundred fifteen dollars and no/100s ($14,715.00). This is an amendment to Letter of Credit
number NVS373146. The items covered under this letter of credit are for the transportation
portion, including drainage and utility improvements. Landscape improvements were addressed
under the first Letter of Credit.
The Departments of Public Works and Planning Services' have determined that the amount of the
agreement will be sufficient to complete the work required for the outdoor Recreational Vehicle
Sales facility as follows:
Unit Cost Total Cost of Improvement
Standby Letter of Credit S407521
Landscape Improvements 10,000.00
Amended Letter of Credit NVS373146
Grass-lined Swale 3./ L.F. 1,515.00
Storm Sewer Facilities 2,500./ L.S. 2,500.00
Retention Ponds 1,500./ L.S. 1,500.00
Water Mains 12./ L.F. 4,200.00
Fire Hydrants 2,500. each 5,000.00
Total Estimated Cost of Improvements and Supervision $ 24,715.00
The Weld County Attorney, the Department of Public Works and the Department of Planning
Services, have determined that the amount of the agreement will be sufficient to complete the work
required for the outdoor Recreational Vehicle Sales facility for Ken Williamson, d.b.a. King's Court
Properties, LLLP and the Department of Planning Services recommends acceptance of this Letter.
SERVICE,TEAMWORK,INTEGRITY,QUALITY
2001-0818
Operations Group `,,,>�.,._--..,...—._._..,......... ,,.K..,.}
445414
ORIGIML
Northern California
525 Markel Street, 25th Floor WF7.TAFARGO
BANK
San Francisco, CA 94105
}
NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION
ROANOKE BUILDING, FIFTH FLOOR,
109 SOUTH 7TH STREET
MINNEAPOLIS, MN 55402
TELEX NUMBER 6734665 SWIFT ADDRESS: NWNBUS44
TELEPHONE 1-800-553-3769
MARCH 10, 2000
THIS COPY IS A 2ND ORIGINAL OF
TO BENEFICIARY: THE LETTER OF CREDIT NO. S407521
WELD COUNTY COMMISSIONERS WHICH WAS ISSUED BY NORWEST BANK
915 10TH ST MINNESOTA, NATIONAL ASSOCIATION
GREELY, CO 80631 DATED MARCH 10, 2000 .
ATTN: ASST. COUNTY ATTORNEY WELLS FARGO BANK REF: NVS373146
LEE MORRISON
ACCOUNT PARTY:
KINGS COURT PROPERTIES, LLLP
14504 I-25 FRONTAGE RD
LONGMONT, CO 80504
WE OPEN IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER S407521 IN
THE AMOUNT OF 10, 000 . 00 USD ( TEN THOUSAND AND 00/100 U.S .
DOLLARS)
IN FAVOR OF YOURSELVES
EXPIRES MARCH 15, 2001 AT OUR COUNTERS
AVAILABLE AGAINST DRAFTS DRAWN AT SIGHT ON NORWEST BANK
MINNESOTA N.A. MINNEAPOLIS, MINNESOTA, BEARING THE CLAUSE:
"DRAWN UNDER STANDBY LETTER OF CREDIT NUMBER S407521 OF NORWEST
BANK MINNESOTA N.A. " ACCOMPANIED BY THE FOLLOWING DOCUMENT (S) :
1 . BENEFICIARY'S SIGNED STATEMENT READING: "WE ARE DRAWING
AGAINST STANDBY LETTER OF CREDIT NUMBER S407521 AS FUNDS ARE
REQUIRED TO FULFILL LANDSCAPING AGREEMENT. "
PAYMENT WILL BE MADE AT THE COUNTERS OF NORWEST BANK MINNESOTA,
NATIONAL ASSOCIATION.
•
THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR
DOCUMENTARY CREDITS (1993 REVISION) INTERNATIONAL CHAMBER OF
COMMERCE PUBLICATION NO. 500 .
UNLESS OTHERWISE STATED, ALL DOCUMENTS ARE TO BE FORWARDED TO
*** CONTINUED ON NEXT PAGE ***
Original
Operations Group SSW
�.*'
Northern California r M��^
525 Franci Street, 94th Floor WIi''T.T R T' O BANK i ORIGINAL
San Francisco, CA 94105
OUR REF. NO. S407521 PAGE 2
US BY OVERNIGHT COURIER OR HAND DELIVERED TO OUR COUNTERS AT:
NORWEST BANK MINNESOTA, N.A. ROANOKE BUILDING, FIFTH FLOOR, 109
SOUTH 7TH STREET, MINNEAPOLIS, MN 55402 ATTN: INTERNATIONAL
PRODUCT SERVICES, LETTERS OF CREDIT DEPT.
CANCELLATION OF LETTER OF CREDIT PRIOR TO EXPIRATION: THIS
LETTER OF CREDIT (AND AMENDMENTS, IF ANY) MUST BE RETURNED TO
US FOR CANCELLATION WITH A STATEMENT PURPORTEDLY SIGNED BY THE
BENEFICIARY STATING THAT THE LETTER OF CREDIT IS NO LONGER
REQUIRED AND IS BEING RETURNED TO THE ISSUING BANK FOR
CANCELLATION.
WE HEREBY ENGAGE WITH BENEFICIARY THAT DOCUMENTS DRAWN
IN ACCORDANCE WITH THIS LETTER OF CREDIT WILL BE DULY
HONORED UPON PRESENTATION.
RWEST BANK. MINOESOTA, TIONAL ASSOCIATION
AUTHORIZED SIGNATURE AUTHORIZED SIGNATURE
WELLS FARGO BANK, N.A.
1( I5, "lO(i
AUTH I SIGNATURE
BATED: JANUARY 19 , 2001
Original
Operations Group
Northern California
525 Market Street, 25th Floor WELLS FARGO BANK
San Francisco, CA 94105
PAGE: 1
DATE : MARCH 30 , 2001 AMENDMENT TO CREDIT NO.
NVS373146
AMENDMENT NUMBER: 1
APPLICANT :
KINGS COURT PROPERTIES, LLLP
14504 I-25 FRONTAGE RD
LONGMONT, CO 80504
S407521
BENEFICIARY:
WELD COUNTY COMMISSIONERS ATTN:
ASST. COUNTY ATTORNEY-LEE MORRISON
915 10TH ST.
GREELY, CO 80631
THIS AMENDMENT IS TO BE CONSIDERED AS PART OF THE ABOVE CREDIT AND MUST BE
ATTACHED THERETO.
THE ABOVE MENTIONED CREDIT IS AMENDED AS FOLLOWS :
THE AMOUNT OF THIS CREDIT HAS BEEN INCREASED BY USD 14 , 715 . 00 .
THE AMOUNT OF THE CREDIT ISSUED NOW TOTALS USD 24 , 715 . 00 .
THE DATE OF EXPIRY IS AMENDED TO: MARCH 15, 2002 .
ALL OTHER TERMS UNCHANGED.
A HORIZED SIGNATURE
PLEASE CONTACT LYNN T. KORN BY TELEPHONE AT 415-396-0497 OR BY FAX AT
(415) 284-9453 REGARDING ANY INQUIRIES .
Original
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