HomeMy WebLinkAbout20002727.tiff RESOLUTION
RE: APPROVE INDEMNITY AGREEMENT FOR LOST LETTER OF CREDIT INSTRUMENT
FOR SITE PLAN REVIEW, AND AUTHORIZE CHAIR TO SIGN - KINGS 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, the Board has been presented with an Indemnity Agreement for a Lost
Letter of Credit Instrument for Site Plan Review, SPR#315, between the County of Weld, State
of Colorado, by and through the Board of County Commissioners of Weld County, on behalf of
the Department of Planning Services, and Kings Court Properties, LLLP, c/o Wells Fargo Bank
Minnesota, National Association, with terms and conditions being as stated in said indemnity
agreement, and
WHEREAS, after review, the Board deems it advisable to approve said indemnity
agreement, a copy of which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Indemnity Agreement for a Lost Letter of Credit Instrument for
Site Plan Review, SPR#315, between the County of Weld, State of Colorado, by and through
the Board of County Commissioners of Weld County, on behalf of the Department of Planning
Services, and Kings Court Properties, LLLP, do Wells Fargo Bank Minnesota, National
Association, be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized
to sign said indemnity agreement.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 1st day of November, A.D., 2000.
BOARD OF COUNTY COMMISSIONERS
WEIE COUNTY, COLORADO
ATTEST: I ,, n!,, �� ,
/aye �, Barbara J. irkmeyer, Chair
Weld County Clerk to f B:N r<<
/ten
V' •, ��r\ p - t M. J. ile, Pro-Tem
BY:
Deputy Clerk tot `� . Baxter
APP—RO ED A ORM:
(D . Hall
nthitorLy ealg, , ,�(
Glenn Vaad J
fe .' /Z i/?G}S 6Cl`'JL 2000-2727
t Ptanntng pep'
•• 'd Colin ,
John G. Canny OCI A l 2004
Attorney at Law
5560 Evergrein'Parkway,Suite 204
Evergreen,Colorado 80439
I Phone(303)670-6310
FAX(303)670-3804
October 9, 2,-)00
•
Weld County Planning Department
Attention: Kim Ogle
I555 North 17th Ave
Greeley, CO 80631
•
Dear Mr. Ogle:
Enclosed please find an Indemnity Agreement fer the lost letter of credit. Welk Fargo Dank
requires this to be sig ted before it will reissue the letter of credit tor Kings Court Properics,
LLl..P,
Please return the original signed document to the.address below and a copy of the signed
document back to my office in the self addressed stamped envelope.
Denise Sterns
Wells Fargo Bank West
P.O. Box 227
Boulder, CO 80306-00227
ery truly •• urs.
•
A ssistaWto.Mr. (Canny
•
•
enclosure:;
2000-2727
KINGS COURT PROPERTIES, LLP
145041-25 FRONTAGE RD.
LONGMONf,CO 80504
(30;)776-1309/METRO(303)a4,-4873
FAX:(303)449-3286
Indemnity .A.greetne.ist For Lost Letter Of Credit Instrument
DATE: October 9, 2000
WELLS FARGO BANK MINNESOTA,NATIONAL ASSOCIATION
MAC N91'12-061
109 South Seventh Street, Fifth Neer
Mimic ap- is, MN 55479 LISA
•
Attenton: International Letters of Credit
RE: Y: ur Letter of Credit No. S407521 Dated: March 10 2000
A) -.ount: $10,000
We the undersigned are the named Beneficiary of the above referenced letter of credit/advice
(hereinafter the"Original Credit") wrtich Wk. Fargo Bank.Mira,csota,National Association
(hereinatt.e•"4VFi3") has issued and`or advised and which ins nev e been received by u , or has
been lost, pole:or destroyed.
As an inducement for you to cance ssue a duplicate original letter of credit, we hereby warrant
and agree that:
The undersigned has not sold,transferred nor endorsed the Original Credit,
• Wells Fargo Bank Minnesota is authorized to refuse to make payment under the Original
Credit,
• le the even the Original Credit is found or otherwise comes into our control. or
possession we will deliver it to WFB,
• WFB shall be indemnified by the undersigned and held harmless from and all loss, costs,
damages, expenses and liability of every kind and.nature whatsoever, including WFB's
reasonable attorney's tees, resulting from and claims which may hereafter be asserted
against WFB by and person or persons claiming to be the owner or holder in due course
of the Original Credit and hereby absolutely and unconditidnally agree to reimburse. WFB
for and all such costs, damages.expense and liability.
•
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Page 2
indemnity Agreement
Name & Address of Benefciak :
Weld County Commissioners
915 10th Street
Greeley, CO 80631
t
/1 j.„._ _ _______:44.4
Brt _S_970_)_ 356_40O0 .1C42Q0._._...._.
°.ii ioIi ed Signer (. :U.i ) di__",-
1. Eel::p1:orl ;rs:n1:4:r
Barbara J. Kirkmeyer, Chair (11/01/2000)
Signature Guarantee
The signature of the above signer with title as.stated conform:= with that on file with us and is
authorized to sign this type document for said party.
Bank Name: ____--- - --- __�.._. ..
Address: __________________________.—__
BY:
Authorized Signature (Title)
� MEMORANDUM
�
iiiPe. To: Board of County Commissioners October 31, 2000
COLO ADO From: Kim Ogle, Plannery/{) •
Subject: Release of Irrevocable Letter of Credit
SPR 315
On March 13, 2000, Airborne Express delivered an Express Letter from Norwest Bank of
Minnesota, Minneapolis Office, to the Weld County Commissioners Office. The Express Letter
was received by Esther Gesick, as indicated on the Shipper's Copy. The Express Letter and
the documents it held have not been located by the office of the Clerk to the Board or by the
County Attorney's Office. The document in question is a Letter of Credit (LC Number S407521)
in the amount of ten thousand and no/100s dollars (10,000.00) for improvements to the
property described as Lot 12, Block 2, Rademacher Business Park PUD. This property is
owned by Ken Williamson of K & C, R.V., Inc., a.k.a. King's Court Properties, LLLP.
At the request of John Canny, legal counsel for Mr. Williamson, an Indemnity Agreement is
required for the lost Letter of Credit. Wells Fargo Bank, formerly Norwest Bank of Minnesota,
requires this document to be signed before it will re-issue the Letter of Credit for King's Court
Properties, LLLP.
Lee Morrison, Assistant County Attorney, has advised that the release of funds would be in
accordance with the terms of the request by Wells Fargo Bank for re-issue of the Letter of
Credit for King's Court Properties, LLLP.
SERVICE,TEAMWORK,INTEGRITY,QUALITY
PL l 41
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