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Home My WebLink About991215.tiff RESOLUTION RE: APPROVE EXCHANGE OF IRREVOCABLE LETTER OF CREDIT - DAIRY FARMERS OF AMERICA 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 #980052 dated January 12, 1998, the Board approved an Improvements Agreement According to Policy Regarding Collateral for Improvements (Publicly Maintained Roads) and a Road Maintenance and Improvements Agreement (Off-Site) with Western Dairymen Cooperative, Inc., for Subdivision, S #431, for Western Dairymen Cooperative, Inc., on the following described real estate, to-wit: Part of the N'A of Section 10, Township 2 North, Range 68 West of the 6th P.M., Weld County, Colorado WHEREAS, pursuant to said agreements, collateral was posted in the form of Standby Letter of Credit#SPL36245, drawn on the Harris Trust and Savings Bank, in the amount of $850,520.20, and WHEREAS, by Resolution #982366 dated December 7, 1998, said Standby Letter of Credit was reduced to $150,136.95, and WHEREAS, after review, the Board deems it advisable to exchange said Standby Letter of Credit for Irrevocable Letter of Credit#SM408639C, drawn on First Union National Bank, 301 South Tyron Street, M7, Charlotte, NC 28288-0742, in the amount of$150,136.00. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that Standby Letter of Credit#SPL36245, drawn on the Harris Trust and Savings Bank, in the amount of $150,136.95 be, and hereby is, released. BE IT FURTHER RESOLVED that Irrevocable Letter of Credit#SM408639C, drawn on First Union National Bank, 301 South Tyron Street, M7, Charlotte, NC 28288-0742, in the amount of $150,136.00 be, and hereby is, accepted. BE IT FURTHER RESOLVED that the Clerk to the Board be, and hereby is, directed to return said collateral as instructed. 991215 �'�_ PL1071 IMPROVEMENTS AGREEMENT - WESTERN DAIRYMEN COOPERATIVE, INC. PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 24th day of May, A.D., 1999. BOARD OF COUNTY COMMISSIONERS W • OUNTY, C• • -ADO ATTEST: i,.- iIt/,-Its; �// �� Pr.V J.. / , Da - . Hall, Chair Weld County Clerk to th lar•oar, � Syr i .j, �' E' cfpc,n� :arbara J. Kirkmeye , Pro-Tem 0 BY: Deputy Clerk to the tfa — ` � eorge axter ,APPR E AS TO FORM: M. . Geile unty Attorney Q2t _ Glenn Vaad 991215 PL1071 „J (' J FIRST UNION NATIONAL BANK IRREVOCABLE- STANDBY LETTER OF CREDIT OUR IRREVOCABLE STANDBY LETTER OF DATE OF ISSUE : MAY 5, 1999 CREDIT NUMBER SM408639C BENEFICIARY APPLICANT CLERK TO THE BOARD OF COUNTY DAIRY FARMERS OF AMERICA, INC . COMMISSIONERS F. K.A. MID-AMERICA DAIRYMEN, INC. 915 10TH ST - PO BOX C 10220 NW EXECUTIVE HILLS BLVD . , GREELEY, CO 80632 NO. POINTE TWR ATTN: MS . CAROL HARDING KANSAS CITY, MO 64190 EXPIRY DATE: JUNE 22 , 2000 AVAILABLE AMOUNT: USD 150, 136 . 00 ONE HUNDRED FIFTY THOUSAND ONE HUNDRED THIRTY SIX AND 00/100 US DOLLARS DEAR SIR (S) OR MADAM(S) : WE HEREBY OPEN OUR IRREVOCABLE LETTER OF CREDIT IN YOUR FAVOR FOR THE ACCOUNT OF WESTERN DAIRYMEN COOPERATIVE, INC. FOR A SUM NOT TO EXCEED THE AGGREGATE OF $150, 136 . 00 . THIS AMOUNT SHALL BE PAID AT SIGHT AND IS AVAILABLE BY BENEFICIARY' S DRAFT OR DRAFTS . EACH DRAFT SO DRAWN MUST BE MARKED "DRAWN UNDER FIRST UNION NATIONAL BANK LETTER OF CREDIT NO. SM408639C” AND BE ACCOMPANIED BY A SIGNED STATEMENT FROM THE BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO STATING WESTERN DAIRYMEN COOPERATIVE, INC. HAS COMMITTED A MATERIAL BREACH OF THE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPROVEMENTS (PUBLICLY MAINTAINED ROADS) OR THE ROAD MAINTENANCE AND IMPROVEMENTS AGREEMENT (OFF SITE) AT 3598 COLORADO STATE HIGHWAY 119 . SUCH AGREEMENTS DATED THE 12TH DAY OF JANUARY, 1998 BY AND BETWEEN THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF WELD' . THIS CREDIT IS SUBJECT, SO FAR AS APPLICABLE, TO THE UNIFORM CUSTOMS AND PRACTICES FOR DOCUMENTARY CREDITS 1993 REVISION, INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 500" . WE HEREBY AGREE WITH YOU THAT ALL DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS CREDIT WILL BE DULY HONORED AND PRESENTED FOR PAYMENT TO US AT 301 SOUTH TRYON STREET, M7, CHARLOTTE, NC 28288-0742 , ATTN: STANDBY LETTER OF CREDIT DEPARTMENT. THIS LETTER OF CREDIT WILL EXPIRE ON JUNE 22 , 2000 . THIS LETTER OF CREDIT WILL BE DEEMED AUTOMATICALLY EXTENDED FOR AN ADDITIONAL ONE YEAR PERIOD FROM THE CURRENT EXPIRATION AND FUTURE EXPIRATION DATE UNLESS AT LEAST 60 DAYS PRIOR TO SUCH EXPIRATION DATE, WE, FIRST UNION NATIONAL BANK NOTIFY YOU (BENEFICIARY) IN WRITING THAT THE LETTER OF CREDIT WILL NOT BE RENEWED. IN THE CASE YOU RECEIVE SUCH NOTIFICATION, YOU MAY DRAW BY PRESENTATION OF THE FOLLOWING: (A) A DRAFT ON FIRST UNION NATIONAL BANK; (B) A STATEMENT, PURPORTEDLY SIGNED BY AN OFFICIAL OF THE BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO STATING THAT WE HAVE RECEIVED NOTICE FROM FIRST UNION NATIONAL BANK THAT LETTER OF CREDIT NO. SM408639C WILL NOT BE RENEWED AND THAT WESTERN DAIRYMEN COOPERATIVE, INC. HAS FAILED OT PROVIDE PROOF OF ADEQUATE COLLATERAL AND SUBSTITUTION OF THIS LETTER OF CREDIT NO . SM408639C; AND (C) COPY OF LETTER FROM FIRST UNION NATIONAL BANK STATING NON-RENEWAL OF LETTER OF CREDIT NO. SM408639C AND ACCOMPANIED BY THE ORIGINAL LETTER OF CREDIT. S CERELY, A HORIZED SIG E / LMD FIRST UNION NATIONAL BANK r-yr- HARRIS Harris Trust and Savings Bank Attn: Letter of Credit Section A''�-, BANK® P.O. Box 755 i11 W. Monroe St., l,3 o r ttt Floc) Chicago, Il 60690-0755 Chicago, Illinois 60606 /Gp`+'``-- gg 1 OUR IRREVOCABLE STANDBY LETTER OF DATE: JANUARY 5, 1999 /� r `�' r ci ..._)". CREDIT NUMBER SPL36245 PAGE: 1 fr//©/ ' ! / BENEFICIARY: APPLICANT: CLERK TO THE BOARD OF COUNTY DAIRY FARMERS OF AMERICA COMMISSIONERS, 915 10TH ST-PO BOX C 3253 E. CHESTNUT EXPWY. GREELEY, CO. 80632 SPRINGFIELD, MO 65802 ATTN: MS. CAROL HARDING THIS IS THE ORIGINAL AMENDMENT. DEAR SIRS) OR MADAM(S) : WE HEREBY AMEND OUR LETTER OF CREDIT SP 36245 AS FOLLOWS: / THE AMOUNT OF THIS LETTER OF CREDI S )BEN DECREASED BY USD 700, 383 .25 TO A NEW BALANCE OF USD 150,13. 95. /r ALL OTHER TERMS AND COPIITI4NS MA,I' 1 / N UNCHANGED. HARRIST AND SAVINGS 1• •K / / /IL -541/--- // AUTHORIZED SIGNATURE PREPARED BY: G (f9 / g IS- PC i, '7/ jr7rj HA IRIS Harris Trust and Sat. ings R:;;,k Attn: Letter of Credit Sert'on `g EAK P.O. Box 755 311 W. Mpnroe St., 13th Ftr,.,r L Chicago,c'�J II 60690-0755 Chicago, lllin� is60606 • / OUR IRREVOCABLE STANDBY LETTER OF DATE: JULY 4, 1998 / CREDIT NUMBER SPL36245 PAGE; 1 / APPLICANT: / BENEFICIARY: DAIRY FARMERS OF AMERICA, INC. CLERK TO THE BOARD • . OUNTY 3253 E. CHESTNUT EXPWY. COMMISSIONERS, °1 1( ' ST—PO BOX C SPRINGFIELD, MO 65802 GREELEY, CO. 80 : ATTN: MS. CARO .RDING * AUT. •ENEWAL ' i L a ***** ** ** .*. *** GENTLEMEN: IN ACCORDANCE WITH THE T AND COND. ' •. S OF OUR LETTER OF CPEDIT NUMBER SPL36245, THE EXPIRY D•'.E H.,. BEEN Al 0 TICALLY EXTENDED AS FOLLOWS: THE EXPIRY DATE IS C • ED _0: JUN) 2 , :e99. PLEASE ADJUST YOUR '•ECCORD OR ' NGL'Y, IF YOU HAVE ANY QUESTIONS R . ;DI, THIS LETTER OF CREDIT, PLEASE CALL ( 312 ) 461-3890. HARRIS TRUST AND SAVINGS :ANK PREPARED BY: 'I T HARRIS ilarris rrust and Savings Bank Attn: Letter of Credit Section r,,`-! BANK® P.O. Box 755 311 W. Monroe St., 13th Floor ■�L Chicago, 11 60690-0755 Chicago, Illinois 60606 MAIL TO: DECEMBER 22, 1997 CLERK TO THE BOARD OF COUNTY OUR STANDBY LETTER OF CREDIT COMMISSIONERS, 915 LOTH ST-PO BOX C NUMBER: SPL36245 GREELEY, CO. 80632 ,.7; ATTN: MS. CAROL HARDING _IC 1 W 0 c AT THE REQUEST OF DAIRY FARMERS OF AMERICA, INC. , WE ENCLOSE OUR ORXGINAL :LI LETTER OF CREDIT ISSUED IN YOUR FAVOR. N / Ct) IF THE TERMS OF THE LETTER OF CREDIT ARE NOT ACCEPTA E TO YOU, PLEASE CONTACT THE APPLICANT DIRECTLY WITH A VIEW TO HAVING THE LE TER OF CREDIT AMENDED. n IN ALL CORRESPONDENCE REGARDING THIS _ETTER OF CREDIT, PLEASE QUOTE OUR LETTER OF CREDIT NUMBER SPL36245. / j / / IF YOU HAVE ANY QUESTIONS REGARDING 1,$IS ETTER OF CREDIT, PLEASE CALL ( 312) 461-6460. I PREPARED BY: GMM // 1 // HARRIS aarris Trust and Savings Bank Attn: Letter of Credit Section P.O. Box 755 311 W. Monroe St., 13th Floor \ INK® Chicago, 11 60690-0755 Chicago, Illinois 60606 : " i, \j- ‘0,/ F OUR IRREVOCABLE STANDBY LETTER OF DATE OF ISSUE: DECEMBER 22 , 1997 �Q`, CREDIT NUMBER SPL36245 PAGE: 1 \Jj`) A 9*\, 1 -0t \\ BENEFICIARY: APPLICANT: \� CLERK TO THE BOARD OF COUNTY DAIRY FARMERS •F AMERICA, INC. _ 91 J\ COMMISSIONERS, 915 10TH ST—PO BOX C 3253 E. CHEST/ IT EXPWY. GREELEY, CO. 80632 SPRINGFIELD, I`�I 65802 ATTN: MS. CAROL HARDING / AMOUNT 'v 'I BLE: USD 850,520.20 EIGHt ' D, ED FIFTY THOUSAND FIVE HUNDRED TWEN. , A 20/100'S US DOLLARS EXPIRY DATE : JUNE 22 , 1998 / DEAR SIR(S) OR MADAM(S) : a . WE HEREBY OPEN OUR IRREVOCAB E L TTo• 2F CREDIT IN YOUR FAVOR FOR THE ACCOUNT OF WESTERN DAIRYMEN COOPERATIV , IL' OR ' SUM NOT TO EXCEED THE AGGREGATE OF $850,520.20. THIS AMOUNT S L1 •AIo AT SIGHT AND IS AVAILABLE BY BENEFICIARY'S DRAFT OR DRAF EACH DRAFT SO DRAWN MUST BE ARK.. "DRAWN UNDER HARRIS TRUST AND SAVINGS BANK LETTER OF CREDI O. SPL36 45" .ND BE ACCOMPANIED BY A SIGNED STATEMENT FROM THE BOARD OF COUN CO IS O RS •F WELD COUNTY, COLORADO STATING WESTERN DAIRYMEN COOPERATIVE,/INC. S IT ED A MATERIAL BREACH OF THE IMPROVEMENTS AGREEMENT ACCORDING T' POL Y RE D G COLLATERAL FOR IMPROVEMENTS AT 3598 COLORADO STATE HIGHWAY 11 . H AGccR11 M IT DATED THE 24TH DAY OF DECEMBER, 1997 BY AND BETWEEN THE BOARD O TY CO k: SSIONERS OF THE COUNTY OF WELD" . THIS CR IT IS BJE. , SO FAR AS APPLICABLE, TO THE UNIFORM CUSTOMS AND PRACTICES FOR DOC NTARY CREDITS 1993 REVISION, INTERNATIONAL CHAMBER OF COMMERCE PUBLICAT N NO. 500" . WE HEREBY AGRE WITH YOU THAT ALL DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS/CREDIT WILL BE DULY HONORED AND PRESENTED FOR PAYMENT TO US AT 311 W. MONROE St , 13TH FLOOR, CHICAGO, ILL. 60606. THIS LETTER OF CREDIT WILL EXPIRE ONAUNE 22, 1998. / THIS L TER OF CREDIT WILL BE DEEMED AUTOMATICALLY EXTENDED FOR AN ADDITIONAL ONE Y AR PERIOD FROM THE CURRENT EXPIRATION AND FUTURE EXPIRATION DATE UNLESS AT LEAD 60 DAYS PRIOR TO SUCH EXPIRATION DATE, WE, HARRIS TRUST AND SAVINGS BANK NOTIFY YOU (BENEFICIARY) IN WRITING THAT THE LETTER OF CREDIT WILL NOT BE NEWED. IN THE CASE YOU RECEIVE SUCH NOTIFICATION, YOU MAY DRAW BY PRESENTATION OF THE FOLLOWING: (A) A DRAFT ON HARRIS TRUST AND SAVINGS BANK; (B) A STATEMENT, PURPORTEDLY SIGNED BY AN OFFICIAL OF THE BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO STATING THAT WE HAVE RECEIVED NOTICE FROM HARRIS TRUST AND SAVINGS BANK THAT LETTER OF CREDIT NO. SPL36245 WILL NOT BE RENEWED AND THAT WESTERN DAIRYMEN COOPERATIVE, INC. HAS FAILED TO PROVIDE PROOF OF ADEQUATE f HARRIS T..arrf3 Trust and Savings Bank Attn: Letter of Credit Section +��`-� BANK® P.O. Box 755 311 W. Monroe St., 13th Floor 1L Chicago, I1 60690-0755 Chicago, Illinois 60606 OUR IRREVOCABLE STANDBY LETTER OF DATE OF ISSUE: DECEMBER 22 , L997 CREDIT NUMBER SPL36245 PAGE: 2 / COLLATERAL AND SUBSTITUTION OF THIS LETTER OF CREDIT NO. SPL36245y/AND (C) COPY OF LETTER FROM HARRIS TRUST AND SAVINGS BANK. STATING NON-RENEWAL/OF LETTER OF CREDIT NO. SPL36245 AND ACCOMPANIED BY THE ORIGINAL LETTER OF2EDIT. HARRIS TRUST AND SAVINGS BANK ,' 71 --it L(2_2- --i / AIITHORIZED SIGNATURE ,Y94 //i PREPARED BY: GMM 4 ' //'' , Al C'\ j 7 .......„1 4 / /� Qv" is) / ././ HARRIS Harris Trust and Savings Bank Attn: Letter of Credit Section BANK® P.O. Box 755 311 W. Monroe St., 13th Floor AL-4 Chicago, I1 60690-0755 Chicago, Illinois 60606 :" yc , r� MAIL TO: JANUARY 15, 1998 f O � �"� CLERK TO THE BOARD OF COUNTY OUR STANDBY LETTER OF CREDIT COMMISSIONERS, 915 10TH ST-PO BOX C NUMBER: SPL36245 GREELEY, CO. 30632 // ATTN: MS. CAROL HARDING tr� AT THE REQUEST OF DAIRY FARMERS OF AMERICA, IN r ENCLOSE OUR ORIGINAL STANDBY LETTER OF CREDIT AMENDMENT. IF THE TERMS OF THE AMENDMENT ARE NOT ACCEP 'ABLr TO YOU, PLEASE CONTACT THE APPLICANT DIRECTLY. , IN ALL CORRESPONDENCE REGARDING THIS LE. TE: OF CREDIT, PLEASE QUOTE OUR LETTER OF CREDIT NUMBER SPL36245. IF YOU HAVE ANY QUESTIONS REG`?D 1G IS LETTER OF CREDIT, PLEASE CALL ( 312 ) 461-6460. PREPARED BY: GMM i HARRIS Harris Trust and Savings Bank Attn: Letter of Credit Section di`- BANK P.O. Box 755 311 W. Monroe St., 13th Floor , Chicago, 11 60690 0755 Chicago, Illinois 60606 OUR IRREVOCABLE STANDBY LETTER OF DATE:. JANUARY 15, 1998 CREDIT NUMBER SPL36245 PAGE: 1 i BENEFICIARY: APPLICANT: � / / CLERK TO THE BOARD OF COUNTY DAIRY FARMER' IF AMERICA, INC. COMMISSIONERS, 915 10TH ST—PO BOX C 3253 E. CHES i T/EXPWY. GREELEY, CO. 80632 SPRINGFIELD, &i'65802 ATTN: MS. CAROL HARDING , DEAR SIR(S) OR MADAM(S) : / / / WE HEREBY AMEND OUR LETTER OF CREDIT NUM:./ S,PL36245 AS FOLLOWS: i / THE FIRST TWO PARAGRAPHS OF THE LETTE61 7/CREDIT ARE NOW CHANGED TO READ AS FOLLOWS: •/ / WE HEREBY OPEN OUR IRREVOCA:L\, T ' R/OF CREDIT IN YOUR FAVOR FOR THE ACCOUNT OF WESTERN DAIRYMEN COOPERATI : F,pR A SUM NOT TO EXCEED THE AGGREGATE OF $850,520.20 ($785,685.20 FO' nN SIDE IMPROVEMENTS & $64,835.00 FOR OFF—SITE IMPROVEMENTS) . THIS AMOUNT S 'r L E PAID AT SIGHT AND IS AVAILABLE BY BENEFICIARY'S DRAFT OR DRAFT.. EACH DRAFT SO ,:RA MUS RKED "DRAWN UNDER HARRIS TRUST AND SAVINGS BANK LETTER OF CR :IT . SPh ..2+ 5" AND BE ACCOMPANIED BY A SIGNED STATEMENT FROM THE BOARD OF CO i. TY MMIS 0 RS OF WELD COUNTY, COLORADO STATING WESTERN DAIRYMEN COOPERATIV , I . HA Oil ITTED A MATERIAL BREACH OF THE IMPROVEMENTS AGREEMENT ACCORDING 0 ICY E • •DING COLLATERAL FOR IMPROVEMENTS (PUBLICLY MAINTAINED ROADS) OR THE OAD MA TENANCE AND IMPROVEMENTS AGREEMENT (OFF SITE) AT 3598 COLORADO TATE IGHW•Y 119. SUCH AGREEMENTS DATED THE 12TH DAY OF JANUARY, 1998 BY AND BETWEEN THE :OARD OF COUNTY COMMISSIONERS OF THE COUNTY OF WELD" . ALL OTHER TERMS ND CONDITIONS REMAIN UNCHANGED. HARRI RUST ND SAVINGS BANK / emLit----- AUTH IZED SIGNATURE PREPARED BY: GMM HARRIS Hai^ Trust and Savings Bank Attn:�tter of Credit Section RANK� P.Cox tii: Chicago, II 60690 0755 Chicago, Illinois 60606 /(o�" `"- p 1 �r�ly r 7 OUR IRREVOCABLE STANDBY LETTER OF DATE: JANUARY 5, 1999 riRririLe CREDIT NUMBER SPL36245 PAGE: 1 11/6/19 BENEFICIARY: APPLICANT: CLERK TO THE BOARD OF COUNTY DAIRY FARMERS OF AMERICA COMMISSIONERS, 915 10TH ST-PO BOX C 3253 E. CHESTNUT EXPWY. GREELEY, CO. 80632 SPRINGFIELD, MO 65802 ATTN: MS. CAROL HARDING ) THIS IS THE ORIGINAL AMENDMENT. DEAR SIR(S) OR MADAM(S) : i WE HEREBY AMEND OUR LETTER OF CREDIT , :P' S• 36245 AS FOLLOWS: 7k THE AMOUNT OF THIS LETTER OF CREDI I41•S ' EN DECREASED BY USD 700,383 .25 TO A NEW BALANCE OF USD 150,13. 95. ALL OTHER TERMS AND CO“ITIINS e' ' N UNCHANGED. HARRIS T T AND SAVINGS : • •K/ i �, i .., „sat— AUTHORIZED SIGNATURE PREPARED BY: G l 9 / 0- /.a' FC le17/ 41111 III DairyFarmers of Dairy Farmers of America Phone 417/865-7100 Ext.2130 325America Springfield E Chestnut8p. FAX 417/865-9176 Springfield MOMO 65802 Friday,April 30, 1999 Clerk to the Board-Of County Commissioners Attn: Carol Harding 915 10th st-PO Box C Greeley CO 80632 Dear Ms. Harding, Dairy Farmers of America has ch n d its ban g affiliations. You, as beneficiary, are in possession of a Per rmance Bon Letter of Credit issued by the Harris Trust and Savings Bank. This L 36245 in e amount of$150,136.95 is being replaced by a LC issued by t Union Ba . When you have rs 1 the repl ment First Union LC, we ask your to cooperation by • kg • arris LCj#SPL36245 and instructing them to cancel it to the address belo Harris Trust and Savings/ \� Attn: Frank Petrassi \� 111 West Monroe St 16th Floor West Chicago IL 60603" If you have y questions concerning this transaction please contact the undersigned. Thank ou for your help in this matter. Si erely, ��? ' " /44, `-v Bernard Brownell Director of Corporate Credit and Financial Services Dairy Farmers of America • ej HARRIS s Trust and Savings Bank AtliOtter of Credit Section BANKS U. Box 755 311 W. Monroe St., 13th Floor t� Chicago, Il 60690-0755 Chicago, Illinois 60606 OUR IRREVOCABLE STANDBY LETTER OF DATE: JANUARY 5, 1999 CREDIT NUMBER SPL36245 PAGE: 1 BENEFICIARY: APPLICANT: CLERK TO THE BOARD OF COUNTY DAIRY FARMERS OF AMERICA COMMISSIONERS, 915 10TH ST-PO BOX C 3253 E. CHESTNUT EXPWY. GREELEY, CO. 80632 SPRINGFIELD, MO 65802 ATTN: MS. CAROL HARDING THIS IS THE ORIGINAL AMENDMENT. DEAR SIR(S) OR MADAM(S) : WE HEREBY AMEND OUR LETTER OF CREDIT NUMBER SPL36245 AS FOLLOWS: THE AMOUNT OF THIS LETTER OF CREDIT HAS BEEN DECRE:. ED BY USD 700, 383.25 TO .A NEW BALANCE OF USD 150,136.95. ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANG .. HARRIS TRUST AND SAVINGS BANK _574/.1 R AUTHORIZED SIGNATURE r �. \ ` \/�\� " 3``)1 PREPARED BY: GMM v/^]\ Hello