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HomeMy WebLinkAboutA023 - Letter from Public Works dated March 30, 2020, releasing 4-year maintenenace of stormwater LOC A Ames Smart Choice Public Works Department 515 Clark Avenue, Ames, Iowa 50010 Phone 515-239-5160 ♦ Fax 515-239-5404 March 30, 2020 Diane Voss, Ames City Clerk City of Ames Ames, Iowa 50010 RE: Hayden's Crossing Subdivision Stormwater Maintenance (Chapter 56) Financial Security Final Release Diane: I hereby acknowledge that the financial security for the 4-year maintenance of stormwater best management practices (BMP's), as required by Chapter 5B of the Ames Municipal Code, for the development at Hayden's Crossing Subdivision has been completed for a period of four(4)years. As a result of this certification, it is recommended that the financial security on file with the City for the maintenance of the storm water BMP's for this development be released in full. Respectfully, Tracy Warner, P.E. Municipal Engineer TW/nw cc: Designer/Engineer, Developer/Owner, COA Project Planner Public Works Department 515.239.5160 -in 515 Clark Ave.P.O.Box 811 Engineering 515.239.5404 f Ames,IA 50010 www.CityofArnes.org IRREVOCABLE STANDBY LETTER OF CREDIT It 1< �Zt ISSUER: VISIONBANK OF IOWA 104 CHESTNUT ST AMES,IA 50010-8058 Date of Issue:04.29-2019 Letter of Credit Number: 150 Amount: U.S. $ 5,000.00 ( FIVE THOUSAND AND N01100 U.S. DOLLARS) For Benefit Of: For Account Of: Beneficiary Name and Address Applicant Name and Address CITY OF AMES HUNZIKER DEVELOPMENT COMPANY LLC 515 CLARK AVE,PO BOX 811,AMES,IOWA 50010 105 S 16TH ST AMES,IA 50010 LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit (Letter of Credit) in favor of Beneficiary in the amount indicated above. Beneficiary may draw on this Letter of Credit with a Draft (or Drafts, if the maximum number of drawings is greater than one) together with the documents described below. Each Draft shall be signed on behalf of Beneficiary and be marked "Drawn under [Issuer name] Letter of Credit No. [Letter of Credit number] dated [Letter of Credit date]." Drafts must be presented at Issuer's address shown above on or before the Expiration Date. The presentation of any Draft shall reduce the Amount available under this Letter of Credit by the amount of the Draft. This Letter of Credit sets forth in full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any reference in this Letter of Credit, or any document to which this Letter of Credit may be related. This Letter of Credit expires on the Expiration Date. DRAWINGS. ❑ Partial drawings shall not be permitted under this Letter of Credit. ® Partial drawings are permitted. The maximum number of drawings that may be made is UNLIMITED DOCUMENTS. Each Draft must be accompanied by the following, an original and two copies except as stated: ❑ The original Letter of Credit, together with any amendments. ❑ A sight draft drawn by Beneficiary on Issuer. N A signed statement by Beneficiary including the following statement: DRAWN UNDER IRREVOCABLE STANDBY LETTER OF CREDIT#150 DATED APRIL ❑ Other documents: 29,2019,FOR THE ACCOUNT OF HUNZIKER DEVELOPMENT COMPANY LLC. Issuer shall be entitled to accept a draft and the documentation described above, as required by the terms of this Letter of Credit, from any person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the part of Issuer to verify the identity or authority of the person presenting the draft and such documentation. SPECIAL INSTRUCTIONS: THIS LETTER OF CREDIT WAS OBTAINED BY HUNZIKER DEVELOPMENT COMPANY LLC FOR THE USE AND BENEFIT OF HUNZIKER DEVELOPMENT COMPANY LLC TO SECURE PUBLIC IMPROVEMENTS IN HAYDEN'S CROSSING (STGP-t"1 UJ t-*-,--`T•-E ' Irrevocable Standby Letter of Credit VMPOO Bankers SystemsTM LC-STANDBY 9/11/2009 Wolters Kluwer Financial Services©2001,2009 VMPC612 (0909).00 Page 1 of 2 Z io Z a6ed 60OZ'LOOZ Qo saoiniaS swalsAj sia ue)l sval)oM 00'16060) ZL90dWn wi S �I 8 @dW/j 60OZ/L L/6 A90NVIS-ol iipai�}o iaua�AgpuelS aigeoonaJij (apu p-a-UN iauf�s) 1NIOIS38d 13N8VV "NOSM3H1lVW lunN SVWOHl (aiE ) (amien2iS)� g (auLeN ianssI) VMOI j0 NNVONOISIA -alquoijddu su (ISI 3o dOfl aql illim lualsisuoaui lou an, smul ilons Su guol Os `uoilauid 3o salelS paltun aql tlM01 3o Smel ails Sq paulan02 aq oslu Ilegs lipoi0 Io nuall SuLL (86dSI) 8661 Saotloeld �gpuelS juuotluuialul otp ❑ •luauipuaure io uoisiaA Jalel Niue io `(dOfl) 009 'ON uoileotlgnd aoiaunuo0 ;o iaquipgD leuoileuialul `uoiSinag LOOZ `S1►pai0 faeluauinooQ .io; aotloeld pue suiOlSnO uuo;tun aql :Sq pauianO2 aq Ilegs upaiO;o iauarl Still 'Md"I g'IgdOI"Iddd •algeia;suun-uou ® ajgeia;suen ❑ st 11POID JO iaua-1 svU 'AJT1Igd2IgdSNV-d.L •famogauag of .ianssl tuoi3 aoilou Am lnoupm uo ;)mdxa Ilegs lipaiO;o iauarj Site `luaAa SUL'uI •llpal0 30 JOUO'I situ pualxa of lou sloala .ianssl legs aleQ uotlundxg aql of loud s iup lsuaj lu gIRIPm ut Ciuto!j3u3q sai313ou lanssl ssalun `mqj uotlundxg aql uioi3 ssVp 3o pouad u .io; papualxa aq llugs awa uotlundxg aql `a1uQ uotlundxg atjl of loud 1lpai0 3o nuarl still ;o lunoum Iln3 aql umuip lou Seq tiutoijauag;l ❑ •aluQ uotlundxg a p aio;aq so uo 1ipajDJO.iaua-j SUPJO Suotstnoid aql grim aoumIduioo loins ui paluasoid sipiQ IIe iouoq of saa i?u ionssj •(are(j) OZOZ•6Z•VO uo (aunt) W'd 0£b it, ssazppu s,ianssl lu ssautsnq 3o a asolo p lu sandxa lipaiO;o nua-I sign 'd,LNQ NOIIV-dldXd CITY OF Ames Smart Choice Public Works Department 515 Clark Avenue, Ames, Iowa 50010 Phone 515-239-5160 ♦ Fax 515-239-5404 April 1, 2019 Honorable Mayor and Council Members City of Ames Ames, Iowa 50010 RE: Hayden's Crossing Subdivision Stormwater Maintenance (Chapter 513) Financial Security Reduction #1 Diane: I hereby acknowledge that the financial security for the 4-year maintenance of stormwater best management practices (BMP's), as required by Chapter 513 of the Ames Municipal Code, for the development at Hayden's Crossing Subdivision has been completed for a period of three (3)years. As a result of this certification, it is recommended that the financial security on file with the City for the maintenance of the storm water BMP's for this development be reduced to $5,000.00. The remainder covers the 4th and final year of the required Chapter 513 maintenance security. Respectfully, Tracy Warner, P.E. Municipal Engineer TW/nw cc: Designer/Engineer, Developer/Owner, COA Project Planner Public Works Department 515.239.5160 nwin 515 Clark Ave.P.O.Box 811 Engineering 515.239.5404 jar Ames,IA 50010 www.C ityofAmes,org