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Home My WebLink About20250559.tiffResolution Approve Release of Collateral and Accept Replacement Collateral for Use by Special Review Permit, USR21-0023 — Overland Solar, LLC 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 the 30th day of March, 2022, the Board of County Commissioners approved the application of Enders Land Company, LLC, 16435 County Road 18, Fort Lupton, Colorado 80601, do Overland Solar, LLC, 2003 Western Avenue, Suite 225, Seattle, Washington 98121, for Use by Special Review Permit, USR21-0023, for a Solar Energy Facility in the A (Agricultural) Zone District, on the following described real estate, being more particularly described as follows: Part of the SE1/4 of Section 15, Township 2 North, Range 65 West of the 6th P.M., Weld County, Colorado Whereas, on April 10, 2024, pursuant to certain Conditions of Approval, the Board accepted a Decommissioning and Reclamation Plan, to include collateral in the form of Irrevocable Standby Letter of Credit, #IS000439063U, insured through Wells Fargo Bank, N.A., U.S. Standby Trade Operations, 1525 West W.T. Harris Boulevard, CIC-3C2, MAC D1109-011, Charlotte, North Carolina 28262, in the amount of $300,000.00, and Whereas, staff from the Weld County Department of Planning Services received a request from Overland Solar, LLC, c/o Dolomite Manager, LLC, 230 Park Avenue, Suite 1560, New York, NY 10169, requesting that the Board of County Commissioners release the currently held collateral for USR21-0023, in the amount of $300,000.00, procured in the form of Irrevocable Standby Letter of Credit, #IS000439063U, issued by Wells Fargo Bank, N.A., U.S. Standby Trade Operations, and Whereas, the Board has been presented with replacement collateral in the form of Irrevocable Letter of Credit, #SLC10009806, issued by U.S. Bank National Association, Global Trade and Standby Services, 1200 Energy Park Drive, EP-MN-O11D, Saint Paul, Minnesota 55108, in the amount of $300,000.00, and Whereas, after review, the Board deems it advisable to accept said Irrevocable Letter of Credit, #SLC10009806, as stated above, 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 currently held collateral for USR21-0023, in the amount of $300,000.00, procured in the form of Irrevocable Standby Letter of Credit, #IS000439063U, issued by Wells Fargo Bank, N.A., U.S. Standby Trade Operations, be, and hereby is, released, and that replacement collateral in the form of Irrevocable Letter of Credit, #SLC10009806, issued by U.S. Bank National Association, Global Trade and 5014769 Pages: 1 of 2 03/06/2025 10:13 AM R Fee:$0.00 Carly Koppes, Clerk and Recorder, Weld County , CO lilt Nreflin iilllelfillVlli1 ir,%li .'r' I. lid 11 III cc: pL (pE/mm/DA/5T►M, KR/DA) 03/10/25 2025-0559 PL2819 Release of Collateral and Accept Replacement Collateral for Use by Special Review Permit, USR21-0023 — Overland Solar, LLC Page 2 Standby Services, 1200 Energy Park Drive, EP-MN-O1ID, Saint Paul, Minnesota 55108, in the amount of $300,000.00, be, and hereby is, accepted. Be it further resolved by the Board that the Clerk to the Board be, and hereby is, directed to return said currently held collateral to the appropriate issuing party. The Board of County Commissioners of Weld County, Colorado, adopted the above and foregoing Resolution, on motion duly made and seconded, by the following vote on the 26th day of February, A.D., 2025: Perry L. Buck, Chair: Aye Scott K. James, Pro-Tem: Aye Jason S. Maxey: Aye Lynette Peppler: Aye Kevin D. Ross: Aye Approved as to Form: Bruce Barker, County Attorney Attest: Esther E. Gesick, Clerk to the Board 5014769 Pages: 2 of 2 03/06/2025 10:13 AM R Fee:$0.00 Carly Koppes, Clerk and Recorder, Weld County , CO VIII1��1�li�wrJilit IJ.,11.41%1C.IiiiiVAil4iLlii III III 2025-0559 PL2819 MEMORANDUM To: Board of County Commissioners From: Diana Aungst, Principal Planner USR21-0023 Acceptance of a replacement an Irrevocable Letter of Subject: Credit Date: February 26, 2025 Case Number: USR21-0023 Applicant Owner: Request Overland Solar, LLC do Nathan Stottler 2003 Western Ave #225, Seattle, WA 98121, CO Enders Land Company LLC, c/o Bruce Victor, 16435 County Road 18, Fort Lupton A Site Specific Development Plan and Use by Special Review for a Solar Energy Facility in the A (Agricultural) Zone District Legal Description: The SE4 of Section 15, T2N, R65W of the 6th P.M., Weld County, Colorado Location: One-half (1/2) mile east of County Road 43, north of and adjacent to County Road 20 Section Line Zoning: A (Agricultural) Zone District Parcel #: 1307-15-0-00-026 Size of SEF: ± 91.55 acres Size of Parcel: ± 120 acres Summary: Overland Solar, LLC, has submitted a request to release the currently held Irrevocable Letter of Credit for the decommissioning and reclamation plan for USR21-0023 Solar Energy Facility, and accept a replacement Irrevocable Letter of Credit for the decommissioning and reclamation plan for USR21-0023 Solar Energy Facility. The applicant is requesting to replace the existing Irrevocable Letter of Credit (#IS000439063U) from Wells Fargo Bank, N.A. in the amount of $300,000.00, that was accepted by the Board of County Commissioners on April 10, 2024, with the new Irrevocable Letter of Credit (#SLC10009806) from U.S. Bank National Association in the amount of $300,000.00. This new Irrevocable Letter of Credit will comply with Condition of Approval #5.A. of the Board Resolution. Recommendation: Staff recommends that the Board accept the Irrevocable Letter of Credit because it complies with Section 23-4-1030.B. of the Weld County Code and staff has accepted the related decommissioning/reclamation plan. If the irrevocable letter of credit is approved by the Board of County Commissioners, it will continue bo satisfy Condition of Approval #5.A. of the Board of County Commissioner's Resolution. 2025-0559 2/ZC9 PLZ�116)1, bank. U.S. Bank National Association IZOGlobal Trade and Standby Services 1200 Energy Park Drive EP-MN-O1ID St. Paul, MN 55108 Tel: 1-833-260-8740 Fax: SWIFT USBKUS44STP Irrevocable Standby Letter of Credit No.: SLC10009806 FEBRUARY 5, 2025 BENEFICIARY: BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY 1150 O STREET, PO BOX 758 GREELEY, CO 80631 Copy APPLICANT: OVERLAND SOLAR LLC C/O DOLOMITE MANAGER LLC 230 PARK AVENUE, SUITE 1560 NEW YORK, NY 10169 AMOUNT: USD300,000.00 EXPIRATION DATE: JANUARY 30, 2026 OR ANY AUTOMATICALLY EXTENDED EXPIRATION DATE DEAR BENEFICIARY: AT THE REQUEST OF FIRST CITIZENS BANK & TRUST COMPANY AND FOR THE ACCOUNT OF OVERLAND SOLAR LLC C/O DOLOMITE MANAGER LLC ("ACCOUNT PARTY" OR "APPLICANT"), WE HEREBY ESTABLISH IN BENEFICIARY'S FAVOR, OUR IRREVOCABLE LETTER OF CREDIT NO. SLC10009806 (THIS "LETTER OF CREDIT') WHEREBY, SUBJECT TO THE TERMS AND CONDITIONS CONTAINED HEREIN, BENEFICIARY IS HEREBY IRREVOCABLY AUTHORIZED TO DRAW ON U.S. BANK NATIONAL ASSOCIATION, BY BENEFICIARY'S DRAFT OR DRAFTS AT SIGHT, UP TO AN AGGREGATE AMOUNT NOT TO EXCEED THREE HUNDRED THOUSAND AND 00/100 U.S. DOLLARS (USD300,000.00) (SUCH AMOUNT, AS IT MAY BE REDUCED IN ACCORDANCE WITH THE TERMS HEREOF, THE "STATED AMOUNT'). WE ARE INFORMED BY THE APPLICANT THAT THIS LETTER OF CREDIT IS ISSUED IN CONNECTION WITH THE 11.00 MWAC/ 11.88 MWDC COMMUNITY SOLAR ELECTRIC GENERATION FACILITY PURSUANT TO THE CONTRACT KNOWN AND REFERRED TO AS MEMORANDUM OF OPTION AND LEASE AGREEMENT DATED APRIL 1, 2020, BETWEEN OVERLAND SOLAR LLC, C/O DOLOMITE MANAGER LLC AS TENANT, AND BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, AS LANDLORD, FOR PROPERTY KNOWN AS 5946 WEST ROAD MUNNSVILLE, NY 13409, PARCEL ID 254689064000000000000, TAX ID: 64,1-7.1. THIS LETTER OF CREDIT SHALL BE EFFECTIVE IMMEDIATELY AND SHALL EXPIRE ON THE EXPIRATION DATE (AS HEREINAFTER DEFINED). PARTIAL DRAWINGS ON THIS LETTER OF CREDIT ARE PERMITTED. SLC10009806 Page 1 of 6 a] bank. U.S. Bank National Association BENEFICIARY MAY DRAW UPON THIS LETTER OF CREDIT AT ANY TIME ON OR PRIOR TO THE EXPIRATION DATE BY PRESENTING (A) A SIGHT DRAFT IN THE FORM OF EXHIBIT A (A "SIGHT DRAFT"), APPROPRIATELY COMPLETED AND EXECUTED BY BENEFICIARY'S AUTHORIZED OFFICER, AND (B) A CERTIFICATE IN THE FORM OF EXHIBIT B (A "CERTIFICATE"), APPROPRIATELY COMPLETED AND EXECUTED BY BENEFICIARY'S AUTHORIZED OFFICER. THE STATED AMOUNT SHALL BE REDUCED BY THE AMOUNT OF ANY PAID DRAWING HEREUNDER. ONCE SO REDUCED, SUCH STATED AMOUNT SHALL NOT BE REINSTATED. PRESENTATION OF ANY SIGHT DRAFT AND CERTIFICATE SHALL BE MADE AT OUR OFFICE LOCATED AT U.S. BANK NATIONAL ASSOCIATION, 1200 ENERGY PARK DRIVE, ST. PAUL, MN 55108, ATTN: GLOBAL TRADE & STANDBY SERVICES, EP -MN -011D. WE HEREBY AGREE WITH BENEFICIARY THAT ANY SIGHT DRAFT AND CERTIFICATE DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT SHALL BE DULY HONORED BY US UPON DELIVERY, IF PRESENTED ON OR BEFORE OUR CLOSE OF BUSINESS ON THE EXPIRATION DATE AT OUR OFFICE SPECIFIED ABOVE. PROVIDED THAT A COMPLIANT DRAWING IS PRESENTED BY 12:00 NOON, MINNESOTA TIME, ON ANY BUSINESS DAY, PAYMENT SHALL BE MADE TO BENEFICIARY OF THE AMOUNT SPECIFIED IN THE APPLICABLE SIGHT DRAFT, NOT TO EXCEED THE STATED AMOUNT, IN IMMEDIATELY AVAILABLE FUNDS, NOT LATER THAN 11:00 A.M., MINNESOTA TIME, ON THE THIRD FOLLOWING BUSINESS DAY. A COMPLIANT DRAWING PRESENTED AFTER 12:00 NOON, MINNESOTA TIME, ON ANY BUSINESS DAY, WILL BE PAID ON THE FOURTH FOLLOWING BUSINESS DAY. AS USED HEREIN, "BUSINESS DAY" SHALL MEAN ANY DAY OTHER THAN A SATURDAY, SUNDAY OR DAY ON WHICH BANKING INSTITUTIONS ARE AUTHORIZED OR REQUIRED TO BE CLOSED IN THE STATE OF MINNESOTA. IF ANY DRAWING PRESENTED UNDER THIS LETTER OF CREDIT DOES NOT COMPLY WITH THE TERMS AND CONDITIONS HEREOF, WE WILL ADVISE BENEFICIARY OF SAME BY FACSIMILE TRANSMISSION TO FAX NO. (970) 304-6498 WITHIN THREE BUSINESS DAYS AND GIVE THE REASONS FOR SUCH NON- COMPLIANCE. UPON BEING NOTIFIED THAT BENEFICIARY'S DRAWING WAS NOT EFFECTED, BENEFICIARY MAY ATTEMPT TO CORRECT ANY SUCH NON -COMPLIANT DRAWING IF, AND TO THE EXTENT THAT, BENEFICIARY IS ENTITLED AND ABLE TO DO SO ON OR BEFORE THE EXPIRATION DATE. THIS LETTER OF CREDIT SHALL EXPIRE ON JANUARY 30, 2026 (THE "EXPIRATION DATE"). THIS LETTER OF CREDIT SHALL BE AUTOMATICALLY EXTENDED FOR ADDITIONAL PERIODS OF ONE YEAR, WITHOUT AMENDMENT, FROM THE PRESENT OR EACH FUTURE EXPIRATION DATE UNLESS AT LEAST SIXTY (60) DAYS PRIOR TO THE THEN CURRENT EXPIRATION DATE WE SEND TO YOU IMbank. U.S. Bank National Association (BENEFICIARY) A NOTICE BY REGISTERED OR CERTIFIED MAIL OR OVERNIGHT COURIER SERVICE AT YOUR ABOVE ADDRESS THAT THIS LETTER OF CREDIT WILL NOT BE EXTENDED BEYOND THE THEN CURRENT EXPIRATION DATE. IN THE EVENT WE SEND SUCH NOTICE OF NON -EXTENSION, YOU MAY DRAW THE ENTIRE AMOUNT AVAILABLE HEREUNDER BY YOUR PRESENTATION TO US OF YOUR SIGNED AND DATED STATEMENT STATING THAT YOU HAVE RECEIVED A NON -EXTENSION NOTICE FROM U.S. BANK NATIONAL ASSOCIATION IN RESPECT OF LETTER OF CREDIT NO. SLC10009806, YOU ARE DRAWING ON SUCH LETTER OF CREDIT FOR USD(INSERT AMOUNT), AND YOU HAVE NOT RECEIVED A REPLACEMENT LETTER OF CREDIT. ONLY BENEFICIARY MAY DRAW UPON THIS LETTER OF CREDIT. UPON THE EARLIEST OF (I) THE HONORING BY US OF THE FINAL DRAWING AVAILABLE TO BE MADE HEREUNDER, (II) OUR RECEIPT OF ORIGINAL LETTER OF CREDIT AND ALL AMENDMENTS HERETO, AND A WRITTEN CERTIFICATE SIGNED BY BENEFICIARY S AUTHORIZED OFFICER, IN THE FORM OF EXHIBIT C PEARLY CANCELLATION AUTHORITY"), APPROPRIATELY COMPLETED AND DELIVERED TO US OR (III) THE EXPIRATION DATE, THIS LETTER OF CREDIT SHALL AUTOMATICALLY TERMINATE. THIS LETTER OF CREDIT SETS FORTH IN FULL OUR UNDERTAKING, AND SUCH UNDERTAKING SHALL NOT IN ANY WAY BE MODIFIED, AMENDED, AMPLIFIED OR LIMITED BY REFERENCE TO ANY DOCUMENT, INSTRUMENT OR AGREEMENT REFERRED TO HEREIN AND ANY SUCH REFERENCE SHALL NOT BE DEEMED TO INCORPORATE HEREIN BY REFERENCE ANY DOCUMENT, INSTRUMENT OR AGREEMENT. THIS LETTER OF CREDIT IS ISSUED SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS, 2007 REVISION, INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 600 (THE UCP ), EXCEPT TO THE EXTENT THE TERMS HEREOF ARE INCONSISTENT WITH THE PROVISIONS OF THE UCP, IN WHICH CASE THE TERMS OF THIS LETTER OF CREDIT SHALL GOVERN. TO THE EXTENT NOT INCONSISTENT WITH THE UCP, THIS LETTER OF CREDIT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. IN THE EVENT OF A CONFLICT BETWEEN THE UCP AND THE LAWS OF THE STATE OF NEW YORK., THE UCP SHALL PREVAIL. U.S. BANK NATIONAL ASSOCIATION R''2", MaY1\ AUTHORIZED SIGNATURE SLC10009806 Page 3 of 6 CIbank. U.S. Bank National Association EXHIBIT A TO IRREVOCABLE LETTER OF CREDIT NO. SLC10009806 SIGHT DRAFT (DATE) TO: U.S. BANK NATIONAL ASSOCIATION 1200 ENERGY PARK DRIVE ST PAUL, MN 55108 ATTN: GLOBAL TRADE & STANDBY SERVICES, EP -MN -01 ID RE: IRREVOCABLE LETTER OF CREDIT NO. SLC10009806 AT SIGHT PAY TO (BENEFICIARY), IN IMMEDIATELY AVAILABLE FUNDS (INSERT) DOLLARS (USD INSERT), PURSUANT TO IRREVOCABLE LETTER OF CREDIT NO. SLC10009806. (BENEFICIARY) BY: NAME: TITLE: PLEASE WIRE DRAW PROCEEDS PER THE FOLLOWING INSTRUCTIONS: TO: ABA OR ROUTING NO.: ATTN: REFERENCE: QVbank. U.S. Bank National Association EXHIBIT B TO IRREVOCABLE LETTER OF CREDIT NO. SLC10009806 CERTIFICATE (DATE) U.S. BANK NATIONAL ASSOCIATION 1200 ENERGY PARK DRIVE ST PAUL, MN 55108 ATTN: GLOBAL TRADE & STANDBY SERVICES, EP -MN -01 ID RE: IRREVOCABLE LETTER OF CREDIT NO. SLC10009806 LADIES/GENTLEMEN: THIS CERTIFICATE IS PRESENTED IN ACCORDANCE WITH THE TERMS OF YOUR IRREVOCABLE LETTER OF CREDIT NO. SLC10009806 HELD BY US (THE "LETTER OF CREDIT'). WE HEREBY DEMAND PAYMENT OF THE AMOUNT OF (INSERT) (USD) UNDER THE LETTER OF CREDIT AND CERTIFY THAT OVERLAND SOLAR LLC, CIO DOLOMITE MANAGER LLC AS TENANT, HAS FAILED TO FULFILL ITS OBLIGATIONS PURSUANT TO THE TERMS OF THE CONTRACT. THIS CERTIFICATE HAS BEEN EXECUTED AND DELIVERED BY A DULY AUTHORIZED OFFICER OF THE UNDERSIGNED ON THE DATE FIRST ABOVE WRITTEN. (BENEFICIARY) BY: NAME: TITLE: SLC10009806 Page 5 of 6 (Erf bank. U.S. Bank National Association EXHIBIT C TO IRREVOCABLE LETTER OF CREDIT NO. SLC10009806 EARLY CANCELLATION AUTHORITY (DATE) U.S. BANK NATIONAL ASOCIATION 1200 ENERGY PARK DRIVE ST PAUL, MN 55108 ATTN: GLOBAL TRADE & STANDBY SERVICES, EP -MN -01 ID LADIES/GENTLEMEN: THIS CERTIFICATE IS PRESENTED IN ACCORDANCE WITH YOUR IRREVOCABLE LETTER OF CREDIT NO. SLC10009806 HELD BY US (THE "LETTER OF CREDIT"). THE UNDERSIGNED, AS BENEFICIARY UNDER THE LETTER OF CREDIT, HEREBY CONFIRMS THAT IT IS NO LONGER REQUIRED BY US AND MAY BE CANCELLED. THE ORIGINAL LETTER OF CREDIT AND ANY AMENDMENTS THERETO ACCOMPANY THIS CERTIFICATE. THIS CERTIFICATE HAS BEEN EXECUTED AND DELIVERED BY A DULY AUTHORIZED OFFICER OF THE UNDERSIGNED ON THE DATE FIRST ABOVE WRITTEN. (BENEFICIARY) BY: NAME: TITLE: OneEnergy OVERLAND SOLAR DECOMMISSIONING PLAN — Updated 4/1/2024 OneEnergy Renewables 2003 Western Ave, Suite 225 Seattle, Washington 98121 oneenergy renewables .com OneEnergy DECOMMISSIONING PLAN The Overland Solar SEF has an estimated useful life of 30 years, with the possibility of extending that useful life to 50 years in the case of equipment replacement, upgrading, and repowering later in life. When the useful life of the SEF has reached its end, power generation will cease, the facility will be decommissioned, and all components of the SEF will be removed from the property. Finally, the site will be returned to its current and/or former use as native vegetation or agricultural production. This Decommissioning Plan contains the current industry best practices and may change as these practices evolve and improve between now and the end of the useful life of the SEF. Decommissioning Process The SEF will consist of mostly recyclable materials, including semiconductor material, aluminum, glass, steel, copper, and plastic. At the time of decommissioning, these components will be dismantled from the SEF, separated by material, and sorted according to salvageable value and recyclability. Salvage value is expected to provide a significant portion of the funding for the decommissioning of the SEF. Improvements made to the land (including access roads, driveways, and plantings) during the construction and operation of the SEF will be reclaimed using industry best practices. Some may remain on the site per the wishes of the landowner. All improvements not reclaimed and returned to agricultural use will be approved by the Weld County Department of Planning Services. Decommissioning is planned to include the following steps: 1. The project owner will schedule a pre -closure meeting with the Weld County Department of Planning Services up to one year prior to the planned decommissioning of the SEF. Final details of the decommissioning will be discussed at this meeting and developed in coordination with the Department. 2. Any necessary permits will be acquired prior to the commencing of decommissioning. 3. Any agencies and other local departments necessary will be contacted and coordinated with. 4. The SEF will be disconnected from the electric grid in coordination with United Power. 5. Within 12 months of disconnection, the following decommissioning activities will take place: a. PV modules will be disconnected and removed for salvage or recycling. b. All electrical cabling (both above and below ground) shall be removed for salvage or recycling. c. Aluminum racking used to support PV modules will be removed for salvage or recycling. OneEnergy d. Steel foundation piles will be removed for salvage or recycling. These piles will either be moved in their entirety or will be cut off approximately 3' below grade, deep enough to allow the land to return to agricultural use. e. All electric interconnection equipment, including inverters and transformers, shall be removed for salvage or recycling. f. All concrete foundations shall be removed and properly disposed of. g. All fencing shall be removed and properly disposed of. h. All soils disturbed during the decommissioning process will be re -graded to meet existing contours and seeded with a native, dryland seed mix. Financial Assurance & Decommissioning/Reclamation Cost Estimates The capital investment represented by the solar facility will create significant value from the materials used to construct the solar facility. OneEnergy has posted an Irrevocable Letter of Credit in the amount of $300,000 as a financial assurance. The initial cost estimate (2023) is inclusive of the following: Fencing Structures $23,900 $79,920 $43,180 Modules Electrical $141,000 Site Restoration $12,000 Total $300,000 March 28, 2025 Clerk to the Board's Office Phone: (970) 400-4225 1150 O Street P.O. Box 758 Greeley, Colorado 80632 www.weld.gov Overland Solar, LLC, c/o Dolomite Manager, LLC 230 Park Avenue, Suite 1560 New York, NY 10169 Re: Release Irrevocable Standby Letter of Credit, #1S000439063U USR21-0023 Overland Solar, LLC, c/o Dolomite Manager, LLC To Whom It May Concern: Enclosed please find copies of the letter to the insurance company, released Irrevocable Standby Letter of Credit, #IS000439063U, and a copy of the Board of County Commissioner's Resolution, dated February 26, 2025, authorizing the release of said Irrevocable Standby Letter of Credit, held as warranty collateral in the amount of $300,000.00 for the above referenced case. If you have questions or need additional information, please do not hesitate to contact me at (970) 400-4212 or jreid@weld.gov. Respectfully, Jess Reid Deputy Clerk to the Board Enclosure cc: Dawn Anderson, Department of Planning Services Jazmyn Trujillo -Martinez, Department of Planning Services Diana Aungst, Department of Planning Services Clerk to the Board File PL2819 Page 1 of 1 Clerk to the Board's Office Phone (970) 400-4225 1150 O Street P O Box 758 Greeley, Colorado 80632 - www weld gov March 28, 2025 Wells Fargo Bank, N A , U S Standby Trade Operations 1525 West WT Harris Boulevard, CIC-3C2, MAC D1109-011 Charlotte, North Carolina 28262 ----6--- --- = - Re- Release Irrevocable Standby Letter of -Credit, #IS000439063U - USR21-0023 Overland Solar, LLC To Whom It May Concern _ Enclosed please find the released Irrevocable Standby Letter of Credit, #IS000439063U and a copy of the Board of -County Commissioner's Resolution, dated February 26, 2025, authorizing the release of said Irrevocable Standby Letter of Credit, held as warranty collateral in the amount of $300,000 00 for the above referenced case - If you have questions or need additional information, please do not hesitate to contact me at (970) 400-4212 or jreid@weld gov Respectfully, • Jess Reid Deputy Clerk to the Board Enclosure _ cc - Dawn Anderson and JazmynTrujillo-Martinez, Department of Planning Services Diana Aungst, Department of Planning Services Clerk to the Board File PL2819 Page 1 of 1 U.S. Postal Service CERTIFIED MAIL° RECEIPT Domestic Mail Only For delivery information, visit our website at www.usps.com '. OFFIC1 Certified Mail Fee Extra Services & Fees (check box, add fee as appropriate) ❑ Return Receipt (hardcopy) $ ❑ Return Receipt (electronic) $ ❑ Certified Mail Restricted Delivery $ Ei Adult Signature Required $ ❑ Adult Signature Restricted Delivery $ Postage Total Postage and Fees isgE Postmark Here VrSet and Apt. No., Pb Box No. G )tektS Voairt\P ES anti N • m .��4 o►�•t�hS cSaS t,wts"v to .T. vt arc % s �I► �a ' of - ity, State, 2IP+4 i a k . • • ` L aeacoa PS Form 3800, April 2015 PSN 7530-02-000-9047 See Reverse for Instructions SENDER: COMPLETE THIS SECTION ■ Complete items 1, 2, and 3. • Print your name and address on the reverse so that we can return the card to you. ■ Attach this card to the back of the mailpiece, or on the front if space permits. 1. Article Addressed to: UL\ Fos cJ 5 cesYek t N•\. v• S• S\c& cI o y TT coca O ACA ►arts tJt'5 L)cSt c•\• \►rC\S %\vd) C1C,-3c.a,,mAC O11Q \-Onn C wzmo`c*t, aBaLa i 1111111111 HIM i i 9590 9402 6113 0209 7531 06 i 2. Article Number (Tram Afar h -n„., n..„.:.. n 7021 1,97❑ 0000 9097 1036 PS Form 3811, July 2015 PSN 7530-02-000-9053 COMPLETE THIS SECTION ON DELIVERY D. Is delivery address differentir= If YES, enter delive 3. Service Type . ❑ Adult Signature ❑ Adult Signature Rest?' g certified Mail® ❑ Certified Mail Restricted ❑ Collect on Delivery D Collect on Delivery Restricted Delivery C'1 Signature Confirmation"' ❑ Insured Mail O Signature Confirmation ❑ Insured Mail Restricted Delivery Restricted Delivery (over $500) gent O Addressee C. Date of Delive �F •9•LS m 1 ? ❑ Yes ❑ No APR 072025 ❑ Priority Mail Express® ❑ Registered Mai1TM ry O Registered Mail Restricted Delivery eryvs P 1 Return Receipt for Merchandise Domestic Return Receipt COLLATERAL RELEASED NO LONGER REQUIRED by Board of Weld County Commissioners date: 3 - a- ae-a by: BENEFICIARY Deput BOARD OF COUNTY COM COUNTY 1150 O STREET, PO BOX 758 GREELEY, COLORADO 80631 LETTER OF CREDIT ISSUE AMOUNT LADIES AND GENTLEMEN: WE HEREBY OPEN OUR IRREVOCABLE STAN THE ABOVE REFERENCED APPLICANT IN TH HUNDRED THOUSAND AND 00/100) WHI FOLLOWING DOCUMENTS: 1. A DRAFT DRAWN ON US AT SIG OF CREDIT NO. IS000439063U." cast,,,A lerk to the Board Irrevocable Standby Letter Of Credit Number: IS000439063U Issue Date : March 1, 2024 APPLICANT SIGNERS OF WELD ONEENERGY, INC. 2003 WESTERN AVE SEATTLE, WASHI D: R LE AGGREG IS AVAILAB Wells Fargo Bank, N.A. U.S. Standby Trade Operations 1525 W W.T. Harris Blvd.. CIC-3C2 MAC 1)1109 -oil Charlotte, NC 28262 Phone: i (800) 76-3862. Option 2 E -Mail: StandbvCustomerCaret.ns ellsf. ITE 225 TON 98121 0.00 EXPIRY DATE MARCH 1, 2025 0.COrn OF CREDIT IN YOUR FAVOR FOR THE ACCOUNT OF E AMOUNT OF USD300000.00 (USD THREE BY PAYMENT UPON PRESENTATION OF THE MARKED "DRAWN UND WELLS FARGO BANK, N.A. STANDBY LETTER 2. THE ORIGINAL LETTER O • REDIT AND ANY AMENDMENTS ATT £ HED THERETO. 3.A DATED STATEMEN M E N AN AUTHORIZED RE CERTAIN USE BY S ONEENERGY D (INSERT AMO SSUED ON THE LETTERHEAD OF THE BENEFI ESENTATIVE STATING: APPLICANT HAS DEFAULT CIAL REVIEW PERMIT DATED FEBRUARY 10, 2023, FO LOPMENT, LLC, USR 21-0023. WE THEREFORE DEMAND T) AS SAME IS DUE AND OWING. RY AND PURPORTEDLY SIGNED BY UNDER CONDITION 11 OF THAT ROJECT PETITIONER: P • YMENT IN THE AMOUNT OF DRAWIN . MAY ALSO BE PRESENTED TO US BY FACSIMILE TRANSMISSION TO F • SIMILE NUMBER 844-87 593 (EACH SUCH DRAWING, A "FAX DRAWING"); PROVIDED, HOWEVER, AT A FAX DRAWING WILL ► •T BE EFFECTIVELY PRESENTED UNTIL YOU CONFIRM BY TELEPHONE OUR RE IPT OF SUCH FAX DR ' ING BY CALLING US AT TELEPHONE NUMBER 1-800-776-3862, OPTION 2. IF YOU EVENT A FAX D' & WING UNDER THIS LETTER OF CREDIT YOU DO NOT NEED TO PRESENT THE ORIGINA •F ANY RAWING DOCUMENTS, AND IF WE RECEIVE ANY SUCH ORIGINAL DRAWING DOCUMENTS EY WILL NOT BE EXAMINED BY US. IN THE EVENT OF A FULL OR FINAL DRAWING THE ORIGINAL STANDBY TIER OF CREDIT MUST BE RETURNED TO US BY OVERNIGHT COURIER. IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE DEEMED AUTOMATICALLY EXTEN ► D Page 1 of 2 Each page of this document is an integral part of this Irrevocable Standby Letter of Credit Number WELLS FARGO Wells Fargo Bank, N.A. U.S. Standby Trade Operations 1525 W WI Harris Blvd., CIC-:3C2 MAC 1)11(X)-oii Charlotte, NC 28262 Phone: I (Soo) j6-;3862. Optic E -Mail: StandbvCustomerCa tewellsfargo.com ITHOUT WRITTEN AMENDMENT FOR ONE YEAR PERIODS FROM THE PRESENT OR ANY F • ` E UNLESS AT LEAST 30 CALENDAR DAYS PRIOR TO SUCH EXPIRATION DATE, WE SEN E AT THE ABOVE STATED ADDRESS BY OVERNIGHT COURIER THAT WE ELECT NO ETTE' OF CREDIT BEYOND THE INITIAL OR ANY EXTENDED EXPIRY DATE HEREOF. D NO L THIS IRRE UNDERTAKI INCORPORA CABLE LETTER OF CREDIT SETS FORTH IN FULL THE TERMS OF OU IS INDEPENDENT OF AND SHALL NOT IN ANY WAY BE MODIFI T BY REFERENCE TO ANY DOCUMENT, CONTRACT, OR AGR WE HEREBY ACRE_ CONDITIONS OF THI SPECIFIED ABOVE AT CHARLOTTE, NC 2826 STATED EXPIRY DATE, R EXCEPT AS OTHERWISE EXPR' INTERNATIONAL STANDBY PRA 590 ("ISP98"). Very Truly Yours, WELLS FARGO BANK, N.A. By:L../ �J SLY STATED HEREIN, THI TICES 1998, INTERNA Authorized Signatur The original of the Letter of Credit Please direct any written cor reference number, to Well ntains an embo UT E EXPIRY HE BENEFICIARY O EXTEND THIS R DERTAKING. THIS •, AMENDED, AMPLIFIED, OR ENT REFERENCED HEREIN. AND OMPLIANCE WITH THE TERMS AND TOGETHER WITH DOCUMENT(S) AS R' BLVD., CIC-3C2, MAC D1109-012, EDIT DEPT. ON OR BEFORE THE ABOVE ICABLE. IN ETTER OF CREDIT IS SUBJECT TO THE NAL CHAMBER OF COMMERCE PUBLICATION NO. ed seal over the Authorized Signature. spondence or inquiries regards argo Bank, National Associatio at this Letter of Credit, always quoting our • ttn: U.S. Standby Trade Services 1525 W W.T. Harris Blvd., C MAC D1109-011 Charlotte, NC 28262 J`2 Phone inquirir regarding this credit should be directed to our Standby C► tomer , Connection Professionals 1-800-776-3862 Option 2 (Hours of Operation: 8:00 a.m. ET to 5:00 p.m. PT) Page 2of2 Each page of this multipage document is an integral part of this Irrevocable Standby Letter of Credit Number ITH YOU THAT DRAFT(S) DRAWN UNDER CREDIT SHALL BE DULY HONORED IF PRESEN • R OFFICE LOCATED AT 1525 \NWT HA 2-: 22, ATTENTION: STANDBY LETTER OF O Y EXTENDED EXPIRY DATE IF AP' Hello