HomeMy WebLinkAboutA031 - Letter of Credit No. 0429 Documents - $37,595 Item No. 26
" CITY OF
Ames-
Smart Choice
Public Works Department
515 Clark Avenue, Ames, Iowa 50010
Phone 515-239-5160 ♦ Fax 515-239-5404
December 3, 2020
Honorable Mayor and Council Members
City of Ames
Ames, Iowa 50010
RE: South Fork Wrap Up Financial Security Final Release
Mayor and Council Members:
I hereby certify that South Fork Subdivision street trees required as a condition for approval of
the final plats of various additions of the South Fork Subdivision have been completed in an
acceptable manner by Country Landscapes, Inc. of Ames, Iowa.
As a result of this certification, it is recommended that the financial security for public
improvements on file with the City for this subdivision be released in full.
Sincerely, �+
John C. Joiner, P.E.
Director
JJ/tp
cc: Finance, Planning & Housing, Subdivision file
Public Works Department 515.239.5160 main 515 Clark Ave.P.O.Box 811
Engineering 515.239.5404 far Ames,IA 50010
www.C ityofAmes.org
South Fork Subdivision Wrap Up
December 3, 2020
Page 2
Descri-tion_- Unit, Quantit
REMAINING STREET TREES LS 1
RESOLUTION NO. 20-643
RESOLUTION ACCEPTING COMPLETION OF
PUBLIC IMPROVEMENTS REQUIRED FOR
SOUTH FORK SUBDIVISION,WRAP-UP
FOR THE CITY OF AMES, IOWA
BE IT RESOLVED, by the City Council of the City of Ames, Iowa:
Section One. In accordance with the Certificate of the Public Works Director,the street trees
required for the South Fork Subdivision,Wrap-Up,are hereby accepted as complete and satisfactory;
and,
Section Two. The bond given to secure performance of the public improvements is hereby
released and shall be returned to the subdivider.
ADOPTED THIS 8th day of December, 2020.
Diane R. Voss, City Clerk John A. Haila, Mayor
Introduced by: Gartin
Seconded by: Corrieri
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Junck, Martin
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 8`h day of December, 2020.
RESOLUTION NO. 19-610
RESOLUTION ACCEPTING PARTIAL COMPLETION OF
PUBLIC IMPROVEMENTS REQUIRED FOR
SOUTH FORK SUBDIVISION, 4TH ADDITION (WRAP-UP)
FOR THE CITY OF AMES, IOWA
BE IT RESOLVED, by the City Council of the City of Ames, Iowa:
Section One. In accordance with the Certificate of the Public Works Department, side yard
sidewalks required as a condition for approval of the Final Plat of the above-named Subdivision have
been completed in an acceptable manner.
Section Two. The bond given to secure performance of the public improvements is hereby
lessened to $5,000 for the remaining work that includes installation of street trees.
ADOPTED THIS 26' day of November, 2019.
Diane . Voss, City Clerk John A. Haila, Mayor
Introduced by: Nelson
Seconded by: Corrieri
Voting aye: Beatty-Hansen, Corrieri, Gartin, Martin,Nelson
Voting nay: None Absent: Betcher
Resolution declared adopted and signed by the Mayor this 26`h day of November, 2019.
Sr FIRST
NATIONAL
BANK
Issue Date: December 10,2019
Irrevocable Letter of Credit No.0429 RE: South Fork Subdivision—Wrap-up
RE: Pinnacle Properties Ames, L.L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
Ladies/Gentlemen,
We hereby establish our Irrevocable Letter of Credit No.0429 in favor of:
City of Ames
515 Clark
Ames, IA 50010
For the Account of:
Pinnacle Properties Ames, L.L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
In the amount of $5,000.00 U.S. Dollars. Irrevocable Letter of Credit No. 0429 will expire on
December 10,2020.
Drafts for payment must be accompanied by the following:
1. Statement indicating which item(s) were not completed under the original estimate of cost
submitted to establish this letter of credit.
2. Copies of all invoices, from a third party provider that the City of Ames hired to completed
the specific item(s)or if the City completed the item(s), an itemization of the cost.
3. Beneficiary's signed statement indicating that they are requesting the lesser of the cost to
complete the specific item(s) or the stated dollar amount of the original estimate of cost
submitted to establish this letter of credit.
4. Copy of this Irrevocable Letter of Credit No.0429.
Partial Payments are permitted.
We hereby agree that drafts drawn under and in compliance with the terms of this Letter of Credit will
be duly honored.
This Letter of Credit is subject to the Uniform Customs and Practice of Documentary Credit (1993)
Revision, International Chamber of Commerce Publication#400.
Sincerely,
First National Bank of Ames
By: /
oel A. Thilges, Senior Vice sident
www. FNB247 . com �
Member FDIC M_IEHOA
1
Item No. 26
CITY OF
Ames,
Smart Choice
Public Works Department
515 Clark Avenue, Ames, Iowa 50010
Phone 515-239-5160 ♦ Fax 515-239-5404
November 26, 2019
Honorable Mayor and Council Members
City of Ames
Ames, Iowa 50010
RE: South Fork Wrap Up Financial Security Reduction#4
Mayor and Council Members:
I hereby certify that the South Fork 41h Addition side yard sidewalks required as a condition for
approval of the final plats of various additions of the South Fork Subdivision have been
completed in an acceptable manner by Hetzler & Rhodes Concrete Construction Inc. of
Nevada, Iowa. The above-mentioned improvements have been inspected by the Engineering
Division of the Public Works Department of the City of Ames, Iowa, and found to meet City
specifications and standards.
As a result of this certification, it is recommended that the financial security for public
improvements on file with the City for this subdivision be reduced to $5,000. The remaining
work covered by this financial security includes installation of street trees.
Sincerely,
John C.Joiner, P.E.
Director
JJ/nw
cc: Finance, Planning& Housing, Subdivision file
Public Works Department 515.239.5160 ,Hain 515 Clark Ave.P.O.Box 811
Engineering 515.239.5404 fax Ames,IA 50010
v,,,vvv.(;ityofArnes,org
r
South Fork Subdivision Wrap Up
November 26, 2019
Page 2
Description Unit Quantitv
REMAINING STREET TREES LS 1
I Cl
Sr FIRST
NATIONAL
BANK
Issue Date:December 10,2018 REVISED: 01/14/2019 REVISED: 10/04/19
Irrevocable Letter of Credit No. 0429 RE: South Fork Subdivision—Wrap-up
RE: Pinnacle Properties Ames,L.L.C.
4114 Cochrane Parkway
Ames,Iowa 50014
Ladies/Gentlemen,
We hereby establish our Irrevocable Letter of Credit No.0429 in favor of:
City of Ames
515 Clark
Ames,IA 50010
For the Account of:
Pinnacle Properties Ames,L.L.C.
4114 Cochrane Parkway
Ames,Iowa 50014
In the amount of$8,243.00 ($22,595.98) U.S. Dollars. Irrevocable Letter of Credit No. 0429 will
expire on December 10,2019.
Drafts for payment must be accompanied by the following:
1. Statement indicating which item(s) were not completed under the original estimate of cost
submitted to establish this letter of credit.
2. Copies of all invoices, from a third party provider that the City of Ames hired to completed
the specific item(s)or if the City completed the item(s),an itemization of the cost.
3. Beneficiary's signed statement indicating that they are requesting the lesser of the cost to
complete the specific item(s) or the stated dollar amount of the original estimate of cost
submitted to establish this letter of credit.
4. Copy of this Irrevocable Letter of Credit No.0429.
Partial Payments are permitted.
We hereby agree that drafts drawn under and in compliance with the terms of this Letter of Credit will
be duly honored.
This Letter of Credit is subject to the Uniform Customs and Practice of Documentary Credit (1993)
Revision, International Chamber of Commerce Publication#400.
Sincerely,
First National Bank of Ames
By:
oel A.Thilges, ice President
www. FNB? 47 . com
Member FDIC LENDER
Ames
Smart Choice
Public Works Department
515 Clark Avenue, Ames, Iowa 50010
Phone 515-239-5160 ♦ Fax 515-239-5404
November 26, 2019
Honorable Mayor and Council Members
City of Ames
Ames, Iowa 50010
RE: South Fork Wrap Up Financial Security Reduction#4
Mayor and Council Members:
I hereby certify that the South Fork 4th Addition side yard sidewalks required as a condition for
approval of the final plats of various additions of the South Fork Subdivision have been
completed in an acceptable manner by Hetzler & Rhodes Concrete Construction Inc. of
Nevada, Iowa. The above-mentioned improvements have been inspected by the Engineering
Division of the Public Works Department of the City of Ames, Iowa, and found to meet City
specifications and standards.
As a result of this certification, it is recommended that the financial security for public
improvements on file with the City for this subdivision be reduced to $5,000.00. The remaining
work covered by this financial security includes installation of street trees.
Sincerely,
John C. Joiner, P.E.
Director
JJ/nw
cc: Finance, Planning & Housing, Subdivision file
Public Works Department 515,239.5160 main 515 Clark Ave.P.O.Box 811
Engineering 515,239.5404 fax Ames,IA 50010
www.CityofAmes.org
RESOLUTION NO. 19-511
RESOLUTION ACCEPTING PARTIAL COMPLETION OF
PUBLIC IMPROVEMENTS REQUIRED FOR
SOUTH FORK WRAP-UP
FOR THE CITY OF AMES,IOWA
BE IT RESOLVED,by the City Council of the City of Ames, Iowa:
Section One. In accordance with the Certificate of the Public Works Department, the
front and side yard sidewalk across Lot 5 for the 8`h Addition and the front yard sidewalk across
Lot 10 of the 3' Addition required as a condition for approval of the Final Plat of the
above-named Subdivision have been completed in an acceptable manner.
Section Two. The bond given to secure performance of the public improvements is hereby
lessened to$8,243 for the remaining work that includes installation of public sidewalk,pedestrian
ramps, and street trees.
ADOPTED THIS 24`h day of September,2019.
. ?/?41 7) ��.
Diane-R. Voss, City Clerk John A. Haila, Mayor
Introduced by: Gartin
Seconded by: Corrieri
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Martin,Nelson
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 24`h day of September, 2019.
RESOLUTION NO. 19-001
RESOLUTION ACCEPTING PARTIAL COMPLETION OF
PUBLIC IMPROVEMENTS REQUIRED FOR
VARIOUS ADDITIONS OF THE SOUTH FORK SUBDIVISION
FOR THE CITY OF AMES,IOWA
BE IT RESOLVED, by the City Council of the City of Ames, Iowa:
Section One. In accordance with the Certificate of the Public Works Department,a portion
(approximately three-fourths)of the street trees required as a condition for approval of the Final Plat
of the above-named Subdivision have been planted in an acceptable manner.
Section Two. The bond given to secure performance of the public improvements is hereby
lessened to$22,595 for the remaining work that includes installation of public sidewalk,pedestrian
ramps, shared use path, and the remaining street trees.
ADOPTED THIS 8''day of January, 2019.
C::�� :2 1 j J 1��
Diane . Voss, City Clerk John . Haila, Mayor
Introduced by:
Seconded by:
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Martin,Nelson
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 8`'day of January, 2019.
SrFIRST
NATIONAL
BANK
AMES • ANKENY • JOHNSTON
VALLEY JUNCTION • WEST DES MOINES
Issue Date: December 10,2018 REVISED:January 14,2019
Irrevocable Letter of Credit No. 0429 RE: South Fork Subdivision—Wrap-up
RE: Pinnacle Properties Ames, L.L.C.
4114 Cochrane Parkway
Ames,Iowa 50014
Ladies/Gentlemen,
We hereby establish our Irrevocable Letter of Credit No.0429 in favor of:
City of Ames
515 Clark
Ames, IA 50010
For the Account of:
Pinnacle Properties Ames,L.L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
In the amount of$22,595.00 ($37,595.00) U.S. Dollars. Irrevocable Letter of Credit No. 0429 will
expire on December 10,2019.
Drafts for payment must be accompanied by the following:
1. Statement indicating which item(s) were not completed under the original estimate of cost
submitted to establish this letter of credit.
2. Copies of all invoices, from a third party provider that the City of Ames hired to completed
the specific item(s)or if the City completed the item(s), an itemization of the cost.
3. Beneficiary's signed statement indicating that they are requesting the lesser of the cost to
complete the specific item(s) or the stated dollar amount of the original estimate of cost
submitted to establish this letter of credit.
4. Copy of this Irrevocable Letter of Credit No. 0429.
Partial Payments are permitted.
We hereby agree that drafts drawn under and in compliance with the terms of this Letter of Credit will
be duly honored.
This Letter of Credit is subject to the Uniform Customs and Practice of Documentary Credit (1993)
Revision,International Chamber of Commerce Publication#400.
Sincerely,
First National Bank of Ames
By:
oel A. Thilg ntor Vice President
AMES OFFICE ANKENY OFFICE JOHNSTON OFFICE VALLEY JUNCTION OFFICE WEST DES MOINES OFFICE
405 5th Street 1205 N.Ankeny Blvd. 8460 Birchwood Court,Suite 1100 301 5th Street 5625 Mills civic Parkway,Suite 100
Ames,IA 50010 Ankeny,IA 50023 Johnston,IA 50131 West Des Moines,IA 50265 West Des Moines,IA 50266
515-232-5561 515-965-3969 515-440-7180 515-274-3483 515-225-2641
Fax 515-232-5778 Fax 515-965-0125 Fax 515-331-2996 Fax 515-274-0173 Fax 515-225-8718
www. FNB247 . com Member FDIC rehVEMR
SrFIRST
NATIONAL
BANK
AMES • ANKENY • JOHNSTON
VALLEY JUNCTION • WEST DES MOINES
Issue Date: December 10, 2018
Irrevocable Letter of Credit No. 0429 RE: South Fork Subdivision—Wrap-up
RE: Pinnacle Properties Ames, L.L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
Ladies/Gentlemen,
We hereby establish our Irrevocable Letter of Credit No.0429 in favor of:
City of Ames
515 Clark
Ames, IA 50010
For the Account of:
Pinnacle Properties Ames,L.L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
In the amount of $37,595.00 U.S. Dollars. Irrevocable Letter of Credit No. 0429 will expire on
December 10,2019.
Drafts for payment must be accompanied by the following:
1. Statement indicating which items) were not completed under the original estimate of cost
submitted to establish this letter of credit.
2. Copies of all invoices, from a third party provider that the City of Ames hired to completed
the specific item(s)or if the City completed the item(s),an itemization of the cost.
3. Beneficiary's signed statement indicating that they are requesting the lesser of the cost to
complete the specific item(s) or the stated dollar amount of the original estimate of cost
submitted to establish this letter of credit.
4. Copy of this Irrevocable Letter of Credit No.0429.
Partial Payments are permitted.
We hereby agree that drafts drawn under and in compliance with the terms of this Letter of Credit will
be duly honored.
This Letter of Credit is subject to the Uniform Customs and Practice of Documentary Credit (1993)
Revision, International Chamber of Commerce Publication#40Q.
Sincerely,
First National Bank of Ames
By:
A. Thi , enior Vice President
AMES OFFICE ANKENY OFFICE JOHNSTON OFFICE VALLEY JUNCTION OFFICE WEST DES MOINES OFFICE
405 5th Street 1205 N.Ankeny Blvd. 8460 Birchwood Court,Suite 1100 301 5th Street 5625 Mills civic Parkway,Suite 100
Ames,IA 50010 Ankeny,IA 50023 Johnston,IA 50131 West Des Moines,IA 50265 West Des Moines,IA 50266
515-232-5561 515-965-3969 515-440-7180 515-274-3483 515-225-2641
Fax 515-232-5778 Fax 515-965-0125 Fax 515-331-2996 Fax 515-274-0173 Fax 515-225-8718
www . FNB247 . com Member FDIC IDEA
South Fork LOC No. 0429
Diane R Voss to: joel.thilges 01/10/2019 04:55 PM
Bcc: Diane R Voss
Joel:
Please be advised that at its meeting held January 8, 2019, the Ames City Council adopted Resolution
No. 19-015 approving partial completion of public improvements and reducing the security required for
various additions of South Fork Subdivisions (a/k/a Wrap-Up LOC)to$22,595.
Em EM
F
24.pdf 001.pdf
I hope you enjoyed the holidays and have a healthy and happy 2019!
Diane Voss, City Clerk/Records Manager
P. O. Box 811
Ames, Iowa 50010
(515) 239-5105
a'
Item #24
.:, CI i V
Ames
Smart Choice
Public Works Department
515 Clark Avenue, Ames, Iowa 50010
Phone 515-239-5160 ♦ Fax 515-239-5404
January 8, 2019
Honorable Mayor and Council Members
City of Ames
Ames, Iowa 50010
RE: South Fork Wrap Up LOC Reduction #1
Ladies and Gentlemen:
I hereby certify that a portion of the street trees required as a condition for approval of the
final plats of various additions of the South Fork Subdivision have been completed in an
acceptable manner by Country Landscapes, Inc. of Ames, Iowa. The above-mentioned
improvements have been inspected by the Planning Department and found to meet City
standards.
As a result of this certification, it is recommended that the financial security for public
improvements on file with the City for this subdivision be reduced to $22,595.00. The
remaining work covered by this financial security includes installation of public sidewalk,
pedestrian ramps, shared use path, and remaining street trees.
Sincerely,
John C.Joiner, P.E.
Director
JJ/nw
cc: Finance, Planning & Housing, Subdivision file
Public Works Department 515,239.5160 main 515 Clark Ave.P.O.Box 811
Engineering 515 239.5404 fax Ames,IA 50010
www.r"«yotArres.arg
South Fork Subdivision Wrap Up
January 8, 2019
Page 2
Description Unit Quantity
FRONT YARD, LOT 10,3RD ADDITION SY 217
SIDE YARD, LOTS 4&5,4T"ADDITION SY 47
SIDE YARD, LOTS 10& 11,4T"ADDITION SY 47
LOT 7, 6 "ADDITION,SHARED USE TRAIL SY 44
SIDE YARD, LOT 5,8T"ADDITION SY 79
FRONT YARD, LOT 5,8T"ADDITION SY 76
REMAINING STREET TREES&CONTINGENCY LS 1
Re: South Fork LOC
Nathan Willey to: Diane R Voss 12/20/2018 10:53 AM
History: This message has been replied to and forwarded.
Hi Diane,
Yes, sorry I forgot about that one. Justin in planning says to hold back 25% of the trees
value since there are still some areas where the trees are missing. Please send me the
information on the South Fork Wrap-Up LOC and I will get the certification letter for a
reduction prepared.
Thanks,
Nathan Willey, P.E.
Civil Engineer 11
n willeyOcity.ames.io.us
Office:515.239.5436 1 Fax: 515.239.5404
City Hall,515 Clark Avenue I Ames, IA 50010
r IT Y 01:-
Ames "
www.CityofAmes.ore 1 ~Caring People-Quality Programs" Exceptional Service"
-----Diane R Voss/COA wrote: -----
To: Nathan Willey/COA a@COA
From: Diane R Voss/COA
Date: 12/20/2018 10:30AM
Subject: South Fork LOC
Nate:
I have not responded to Mr.Arneson. Are you looking into this request?
Diane Voss, City Clerk/Records Manager
P. O. Box 811
Ames, Iowa 50010
(515) 239-5105
"Keith Arneson"---12/11/2018 09:26:28 AM---Joel and Diane, here is an invoice for the trees I planted
this fall in every addition to South Fork
From: "Keith Arneson" <keithdarnesonagmail.com>
To: "Joel A.Thilges" <Joel.Thilges _fnb247.com>, "Diane R Voss" <DVoss city.ames.ia.us>
Date: 12/11/2018 09:26 AM
Subject: Fwd: Country Landscapes
Joel and Diane, here is an invoice for the trees I planted this fall in every addition to
South Fork. Could be credited to the "overall" holdback, or to the individual additions
LOC's.
Thanks.
---------- Forwarded message ---------
From: Deb Arneson <debarneson@gmail.com>
Date: Tue, Dec 11, 2018 at 9:17 AM
Subject: Country Landscapes
To: Keith D. Arneson <keithdarneson(cDgmail.com>
Virus-free.
www.avg.co
m
[attachment"221609-121118.pdf'deleted by Diane R Voss/COA]
Re: Crane Farm and South Fork Punch Lists
Nathan Willey to: Keith D. Arneson 10/08/2018 11:36 AM
Cc: "Joel A.Thilges",Tracy Warner,Scott Shepherd, Diane R Voss
Keith,
Attached is the itemized punch list for the Crane Farm and South Fork Subdivisions. I
recently verified the status of these items with our inspector and have updated the
original punch lists and maps accordingly (also attached). Since I have been delayed in
responding back to you, and the weather has been detrimental to construction, please
show progress toward completing these items by the end of April 2019. Again, if you
have any questions about the attached lists or maps, please let me know.
Thank you,
Nathan Willey, P.E.
Civil Engineer 11
nwillev@city.ames.im us
Office:515.239.5436 1 Fax: 515.239.5404
City Hall,515 Clark Avenue I Ames, IA 50010
r
kr I i i e '.
NSG v'
www.CityofAmes.org I ^ Caring People-Quality Programs Exceptional Service
----"Keith D.Arneson" <keithdarneson(c)g mail.com>wrote: -----
To: "Nathan Willey" <NWilley(o city.ames.ia.us>
From: "Keith D. Arneson" <keithdarneson(abcm ail.com>
Date: 08/15/2018 05:38PM
Cc: "Joel A. Thilges" <Joel.Thilges FNB247.com>, "Tracy Warner" <twarner city.ames.ia.us>, "Scott
Shepherd" <sshepherdta'�city.ames.ia.us>
Subject: Re: Crane Farm and South Fork Punch Lists
Please forward me the corresponding Letter of Credit number AND amount each repair will allow to be
released from each LOC. As soon as that is received the clock can start on these repairs (many the cause
of out of town builders faulty installation and approval by our inspection department).
If I don't get this itemized breakdown from you by the end of October then I will refer this to my legal
department.
Sent from my iPad
On Aug 15, 2018, at 3:23 PM, Nathan Willey <NWilley�a city.ames.ia.us>wrote:
Good afternoon Keith,
J
Our inspectors have continued to update their punch lists for pedestrian ramps
and other infrastructure items that still need to be addressed in the Crane Farm
and South Fork Subdivisions. Attached are the lists and corresponding maps for
those items. Please respond in a timely manner to this email with your plan and
anticipated timeline to correct all of these remaining punch list items. Most
critical are the pedestrian ramps that are either not completed or are not meeting
current ADA standards. Those ramps must be constructed or corrected and
then verified with an as-built survey. If significant progress on these punch list
items is not made by the end of October 2018, we will be discussing the next
step in this process with our legal department. If you have any questions about
the attached lists or maps, please Ipt me know and I will have our inspectors
show you, or a contractor, exactly what needs to be completed.
Thank you,
Nathan Willey, P.E.
Civil Engineer 11
nwiHey@city.ames.im us
Office:515.239.5436 I Fax: 515.239.5404
City Hall,515 Clark Avenue I Ames, IA 50010
<I mage.461642953515.png>
www.CityofAmes.ors I -Caring People-Quality Programs^ Exceptional Service
<Crane Farm Punch List.pdf>
<Crane Farm ADA Ramp Map.pdf>
<South Fork Punch List.pdf>
<South Fork ADA Ramp Map.pdf>Crane Farm&South Fork Itemized Punch List.pdf
I=
?... J_
Crane Farm Punch List.pdf Crane Farm Punch List Map.pdf South Fork VPunch List.pdf
KEN
South Fork Punch List Map.pdf
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FIRST
NATIONAL
BANK
AMES • ANKENY • JOHNSTON
VALLEY JUNCTION • WEST DES MOINES
Issue Date: December 10, 2017
Irrevocable Letter of Credit No. 0429 RE: South Fork Subdivision—Wrap-up
RE: Pinnacle Properties Ames, L.L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
Ladies/Gentlemen,
We hereby establish our Irrevocable Letter of Credit No.0429 in favor of:
City of Ames
515 Clark
Ames, IA 50010
For the Account of:
Pinnacle Properties Ames, L.L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
In the amount of $37,595.00 U.S. Dollars. Irrevocable Letter of Credit No. 0429 will expire on
December 10, 2018.
Drafts for payment must be accompanied by the following:
1. Statement indicating which item(s) were not completed under the original estimate of cost
submitted to establish this letter of credit.
2. Copies of all invoices, from a third party provider that the City of Ames hired to completed
the specific item(s)or if the City completed the item(s),an itemization of the cost.
3. Beneficiary's signed statement indicating that they are requesting the lesser of the cost to
complete the specific item(s) or the stated dollar amount of the original estimate of cost
submitted to establish this letter of credit.
4. Copy of this Irrevocable Letter of Credit No. 0429.
Partial Payments are permitted.
We hereby agree that drafts drawn under and in compliance with the terms of this Letter of Credit will
be duly honored.
This Letter of Credit is subject to the Uniform Customs and Practice of Documentary Credit (1993)
Revision, International Chamber of Commerce Publication#400.
Sincerely,
First National Bank of Ames
By:
e A. Thilges, ice Preside�nt
AMES OFFICE ANKENY OFFICE JOHNSTON OFFICE VALLEY JUNCTION OFFICE WEST DES MOINES OFFICE
405 5th Street 1205 N.Ankeny Blvd. 8460 Birchwood Court,Suite 1100 301 5th Street 5625 Mills Civic Parkway,Suite 100
Ames,IA 50010 Ankeny,IA 50023 Johnston,IA 50131 West Des Moines,IA 50265 West Des Moines,IA 50266
515-232-5561 515-965-3969 515-440-7180 515-274-3483 515-225-2641
Fax 515-232-5778 Fax 515-965-0125 Fax 515-331-2996 Fax 515-274-0173 Fax 515-225-8718
www. FNBames .com www. FNBdm .com Member FDIC LENDER
Paae 1 of 3
RE: Pinnacle Properties Ames letters of Credits
Tracy Warner
to:
Joel A. Thilges
12/06/2017 05:16 PM
Cc:
Diane R Voss, John C Joiner, Keith Arneson
Hide Details
From: Tracy Warner/COA
To: "Joel A. Thilges" <Joel.Thilges@FNB247.com>
Cc: Diane R Voss/COA@COA, John C Joiner/COA@COA, Keith Arneson <keithdarneson@gmail.com>
LOC #403 This I LOC needs to be renewed since the pedestrian ramps still have not been correctly
installed for South Fork 3rd Addition.
C #404(Can be released according to Charlie (Planning) since the financial security for street trees
associated with South Fork 3rd Addition is now part of the South Fork Wrap Up.
(Diane, do you want a letter to City Council (from me) or can you draft something to them for this one?)
LOC #428 Crane Farm 2nd Addition - I am still working on this one and will respond to all of you
morro
LOC #429 is LOC needs to be renewed since the work has not been completed. ( vac-
Tracy L. Warner,Municipal Engineer
City of Ames
Public Works Department
Engineering Division
515 Clark Avenue
Ames,IA 50010 _ r A
Desk: (515) 239-5163
Email:twarner(Dcityxmes.ia.us
-----"Joel A. Thilges" <Joel.Thilges FNB247.com> wrote: -----
To: "dvoss@city.amesJa.us" <dvoss(d)city.ames.ia.us>, John C Joiner <JJoiner@city.ames.ia.us>,
Tracy Warner <twarner(d)citv.ames.ia.us>
From: "Joel A. Thilges" <Joel.Thilges(cbFNB247.com>
Date: 12/06/2017 11:27AM
Cc: Keith Arneson <keithdarneson@gmail.com>
Subject: RE: Pinnacle Properties Ames LLetters of Credits
Diane, John and Tracy,
Just following up as I have not received any information as to the status of the required work remaining
and corresponding dollar amount as it relates to the respective subdivision Letters of Credit. Two of
these now mature for all practical purposes at the end of the week and two in. 12 days.
Please advise.
file:///C:/Users/diane.voss/AppData/Local/Temp/notesFFF692/—web7420.htm 12/7/2017
CITY OF
Ames
Smart Choice
December 14, 2016
TO WHOM IT MAY CONCERN:
I, Diane R. Voss, hereby certify that I have this date received from Pinnacle Properties of Ames,
L.C. , a Letter of Credit numbered 0429 in the amount of $37,595.
Said instrument has been placed on file in the Ames City Clerk's Office, 515 Clark Avenue, for the
completion of miscellaneous improvements in South Fork Subdivision in the City of Ames, Iowa,
to wit: Lot 10, South Fork, 3' - front yard; Lots 4 and 5, South Fork, 0 - side yard; Lot 7, South
Fork, 6`"- shared use trail; Lot 5, South Fork, 8" - side yard; Lot 5, South Fork, 8`h - side yard; Lot
5, South Fork, 8t' - front yard; remaining street trees and contingency.
Diane R. Voss, City Clerk
CITY OF AMES,IOWA
PINNACLE PROPERTY AMES, LLC.-SOUTH FORK MISCELLANEOUS ITEMS
H:\PINNP\A13112174\3 Design\A_CalcuIations\[OPC-SF WRAP UP-LETTER OF CREDIT.xIs]OPC 13-Dec-16
OPINION OF PROBABLE COST- PARTIAL
ITEM NO ITEM UNIT TOTAL UNIT PRICE TOTAL
REMAINING ITEMS
1 LOT 10,SF 3RD,FRONT YARD SY 217 $ 34.50 $ 7,486.50
2 LOT 4&5,SF 4TH,SIDE YARD SY 47 $ 34.50 $ 1,621.50
3 LOT 10&11,SF 4TH,SIDE YARD SY 47 $ 34.50 $ 1,621.50
4 ILOT 7,SF 6TH,SHARED USE TRAIL SY 44 $ 34.50 $ 1,518.00
5 LOT 5,SF 8TH,SIDE YARD SY 79 $ 34.50 $ 2,725.50
6 LOT 5,SF 8TH,FRONT YARD SY 76 $ 34.50 $ 2,622.00
7 REMAINING STREET TREES&CONTINGENCY LS 1 $ 20,000.00 $ 20,000.00
SUBTOTAL: $37,595.00
r - r Page 1 of I
wv Fwd:
Joel A. Thilges
to.
Diane Voss
12/14/2016 10:29 AM
Hide Details
From: "Joel A. Thilges" <Joel.Thilges@FNBAmes.com>
To: Diane Voss <dvoss@city.ames.ia.us>
I Attachment
OPC-SF WRAP UP-LETTER OF CREDIT.pdf
Sent from my Verizon Wireless 4G LTE smartphone
-------- Original message --------
From: Keith Arneson<keithdarneson@gmail.com>
Date: 12/14/2016 7:44 AM (GMT-06:00)
To: "Joel A. Thilges" <Joel.Thilges@FNBAmes.com>
Subject: Fwd:
This message originated from outside your organization
Hi Joel, here is the latest set of numbers that need to be secured by a LOC, hopefully today. This is the
clean up for all of South Fork that the City has decided needs to be dealt with before they will put SF9
on the Dec 20th agenda. It is overstated, and I will explain at 9:30, but I can not avoid this.
Sorry.
---------- Forwarded message ----------
From: Keith D. Arneson <keithdarnesonggmail.com>
Date: Tue, Dec 13, 2016 at 7:01 PM
Subject:
To: keithdarnesonggmail.com
Sent from my iPad
file:///C:/Users/Diane.voss/AppData/Local/Temp/notesFFF692/—web9486.htm 12/14/2016
FIRST
NATIONAL
RANI
AMES • ANKENY • JOHNSTON
VALLEY JUNCTION • WEST DES MOINES
Issue Date: December 14, 2016
Irrevocable Letter of Credit No. 0429 RE: South Fork Subdivision—Wrap-up
City of Ames
515 Clark
Ames, IA 50010
RE: Pinnacle Properties of Ames,L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
Ladies/Gentlemen,
We hereby establish our Irrevocable Letter of Credit No.0429 in favor of:
City of Ames
515 Clark
Ames, IA 50010
For the Account of:
Pinnacle Properties of Ames, L.C.
South Fork Subdivision—Wrap-up
4114 Cochrane Parkway
Ames,Iowa 50014
In the amount of$37,595.00 U.S. Dollars. Irrevocable Letter of Credit No. 0429 will expire on
December 10, 2017,
Drafts for payment must be accompanied by the following:
1. Copies of all invoices, which have remained unpaid for 60 days from invoice date.
2. Beneficiary's signed statement indicating that the invoices are unpaid.
3. Copy of this irrevocable Letter of Credit No. 0429.
Partial Payments are permitted.
We hereby agree that drafts drawn under and in compliance with the terms of this Letter of Credit
will be duly honored.
This Letter of Credit is subject to the Uniform Customs and Practice of Documentary Credit
(1993) Revision, International Chamber of Commerce Publication#400.
Sincerely,
APPROVED AS TR FORM
First National Bank of Ames BY
J Y K. PARKS
Clot Y ATTORNEY
B
AMES OFF oel K`]v t7ice Pre�jO'WTON OFFICE VALLEY JUNCTION OFFICE WEST DES MOINES OFFICE
405 5th Street 1205 N.Ankeny Blvd. 8460 Birchwood Court,Suite 1100 301 5th Street 5625 Mills Civic Parkway,Suite 100
Ames,IA 50010 Ankeny,IA 50023 Johnston,IA 50131 West Des Moines,IA 50265 West Des Moines,IA 50266
515-232-5561 515-965-3969 515-440-7180 515-274-3483 515-225-2641
Fax 515-232-5778 Fax 515-965-0125 Fax 515-331-2996 Fax 515-274-0173 Fax 515-225=8718
www. FNBames.com www. FNBdm .com Member FDIC [Q