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Eastside Townhouses/Letter of Credit & DocumentationCity of Kalispell Post Office Box 1997 - Kalispell, Montana 59903-1997 Telephone (406) 758-7000 Fax - (406) 758-7758 August 30, 2010 First Interstate Bank Chuck Werk PO Box 7130 Kalispell, MT 59904-0130 Re: Irrevocable Letter of Credit No. 2309600450 $ 1,106.25 Dear Mr. Werk, I am returning the above mentioned letters of credit per Mark Crowley of the Public Works Department. The repairs to the sidewalk have been completed. If you have any questions, please call me at 758-7750. Sincerely, Deb Deist City Treasurer cc Dan Sandler 11 Harvest Lane Kalispell, MT 59901 Deb Deist From: Mark Crowley Sent: Monday, August 30, 2010 11:22 AM To: Deb Deist Subject: Eastside townhouses can be taken off the list Attachments: image001.gif Categories: Red Category Thanks for looking into this Deb. The developer has completed the required repairs to the sidewalks. All subdivision issues have been addressed. Please return all securities associated with this project to the applicant: Dan Sandler, 11 Harvest Lane; Kalispell, MT 59901. I&S From: Deb Deist Sent: Monday, August 30, 2010 10:52 AM To: Mark Crowley Subject: RE: Eastside townhouses All I have in the file is a First Interstate Letter of Credit for $1,106.25 that expired on 6/30/2009. 1 also have a payment bond (NO. 2080646) in the amount of $15,000 which has a general surety rider which changes the amount up to $20,000. There is also a copy of a cashiers' check which has a note on it that the check was released to Dan Sandler 1/23/09. Dan picked up the cashier's check on that date. From: Mark Crowley Sent: Monday, August 30, 2010 10:38 AM To: Deb Deist Subject: Eastside townhouses Good morning Deb, I'm trying to close out this file. The SIA list says we hold a payment bond and LoC. In my file, I see a cryptic not about releasing the LoC for a cashier's check. Can you tell me what we have on file? Mark Crowley Construction Manager Public Works Department City of Kalispell Mobile: 249-2485 This E-Mail is confidential. If you are not the intended recipient, you must not copy, disclose or use its contents. If you have received it in error, please inform us immediately by return E-Mail and delete the document. Diese E-Mail ist vertraulich. Wenn Sie nicht der rechtmaflige Empfanger sind, dorfen Sie den Inhalt weder kopieren, verbreiten noch benutzen. Sollten Sie these E-Mail versehentlich erhalten haben, senden Sie sie bitte an uns zurOck and loschen sie anschliegend. Cet e-mail est confidentiel. Si vous n'etes pas le destinataire de ce message, vous ne devez pas copier, divulguer ou utiliser le contenu. Si vous avez recu cet e-mail par erreur, veuillez nous informer en retournant ce message a 1'expediteur et detruisez-Ie. Esta mensagem, a qualquer de seus anexos, eh confidencial a privilegiada. Caso voce nao seja o destinatario, nao esta autorizado a reproduzir ou divulgar a terceiros o conteudo desta mensagem a de qualquer anexo da mesma a deve apagar com os seus respectivos anexos. JFirst interstate Bank City of Kalispell PO Box 1997 Kalispell, MT 59901 First Interstate Bank 2 Main St. P.O. Box 7130 Kalispell, MT 59904-0130 406-756-5200 Fax:406-756-5260 www.firstinterstatebank.com IRREVOCABLE STANDBY LETTER OF CREDIT NO. 2309600450 DATED September 3, 2008. Date: September 3, 2008 Expiration: June 30, 2009 RE: Daniel A. Sandler We have established this Irrevocable Standby Letter of Credit No. 2309600450 solely in your favor for drawings up to ONE THOUSAND ONE HUNDRED SIX DOLLARS and 25/100 ($1,106.25) effective immediately and expiring at our address, 2 Main Street, Kalispell, MT with our close of business on June 30, 2009. We hereby undertake to promptly honor your sight draft(s) drawn on us, indicating our Letter of Credit No. 2309600450, for all or any part of this Letter of Credit if presented at First Interstate Bank, 2 Main Street, Kalispell, MT on or before the expiration date or any automatically extended date. Except as stated herein, this undertaking is not subject to any condition or qualification. The individual obligation of the Bank is in no way contingent upon reimbursement with respect thereto. This Letter of Credit shall be deemed extended without amendment for six months from the expiration date, unless thirty (30) days prior to any expiration date we shall notify you by Registered Mail that we elect not to consider this Letter of Credit renewed for any such period. It is a further condition of this Letter of Credit that any interruptions of the Bank's conduct of business caused by an Act of God, riot, civil commotion, insurrection, war or other cause beyond the Bank's control, or by any strike or lockout, will automatically extend the expiration date of this Letter of Credit, as well as future expiration dates, by the period of interruption. In any communication with us regarding this Letter of Credit, please make specific reference to our Letter of Credit No.2309600450. This Letter of Credit is subject to the Montana Uniform Commercial Code and the a g„ s Uniform Customs and Practice for the Documentary Credits (1993 Revision) International Chamber of Commerce Document No. 500 to the extent not inconsistent with Montana Law. If any legal proceedings are initiated with respect to payment of this Letter of Credit, it is agreed that such proceedings shall be subject to the Montana courts and law. Sincerely, Chuck Werk Vice President Sincerely, Brad Kelsey Commercial Loan Officer GENERAL SURETY RIDER To be attached and form a part of Type of Bond: Class A Contract Bond No.: 2080646 Dated effective: 7/22/2008 (MONTH, DAY, YEAR) executed by: Sandler Investments, LLC , as Principal, (PRINCIPAL) and by: North American Specialty Insurance Company, as Surety, (SURETY) and in favor of : City of Kalispell. (OBLIGEE) In consideration of the mutual agreements herein contained the Principal and the Surety hereby consent to changing INFORMATION FROM TO Performance Amount($) $15,00000 $20,000.00 Payment Amount($) $15,00.000 $20,000.00 Bond Amount($) $15,000.00 $20,000.00 Nothing herein contained shall vary, alter or extend any provision or condition of this bond except as herein expressly stated. This rider is effective 1/22/2009 (MONTH, DAY, YEAR) Signed and Sealed 1/22/2009 (MONTH, DAY, YEAR) BY BY: Sandler Investments, LLC , PRINCIPAL TITLE SURETY Sylvia Tilzey, ATTORNEY -IN-: ACT NAS SURETY GROUP NORTH AMERICAN SPECIALTY INSURANCE COMPANY WASHINGTON INTERNATIONAL INSURANCE COMPANY D GENERAL POWER OF ATTORNEY ^ KNOW ALL MEN BY THESE PRESENTS, THAT North American Specialty Insurance Company, a corporation duly organized and e " ng under laws of the State of New Hampshire, and having its principal office in the City of Manchester, New Hampshire, and Washington Intemati6nal Insurance Company, a corporation organized and existing under the laws of the State of New Hampshire and having its principal office in the City of Itasca, Illinois, each does hereby make, constitute and appoint: ALLAN HULTGREN, SYLVIA TILZEY, and NAOMI GERBER JOINTLY OR SEVERALLY Its true and lawful Attomey(s)-in-Fact, to make, execute, seal and deliver, for and on its behalf and as its act and deed, bonds or other writings obligatory in the nature of a bond on behalf of each of said Companies, as surety, on contracts of suretyship as are or may be required or permitted by law, regulation, contract or otherwise, provided that no bond or undertaking or contract or suretyship executed under this authority shall exceed the amount of: TWENTY-FIVE MILLION ($25,000,000.00) DOLLARS This Power of Attorney is granted and is signed by facsimile under and by the authority of the following Resolutions adopted by the Boards of Directors of both North American Specialty Insurance Company and Washington International Insurance Company at meetings duly called and held on the 24d` of March, 2000: "RESOLVED, that any two of the Presidents, any Managing Director, any Senior Vice President, any Vice President, any Assistant Vice President, the Secretary or any Assistant Secretary be, and each or any of them hereby is authorized to execute a Power of Attorney qualifying the attorney named in the given Power of Attorney to execute on behalf of the Company bonds, undertakings and all contracts of surety, and that each or any of them hereby is authorized to attest to the execution of any such Power of Attorney and to attach therein the seal of the Company; and it is FURTHER RESOLVED, that the signature of such officers and the seal of the Company may be affixed to any such Power of Attorney or to any certificate relating thereto by facsimile, and any such Power of Attorney or certificate bearing such facsimile signatures or facsimile seal shall be binding upon the Company when so affixed and in the future with regard to any bond, undertaking or contract of surety to which it is attached." 0 QtiGIUu'TM�Ns��%i, y BY SEAI :O E Steven P. Anderson, President & Chief Executive Officer of Washington International Insurance Company S�l Yy s¢st :Z 1873 ruI n` & Senior Vice President of North American Specialty Insurance Company j im By lit. y .�..•� David M. Layman, Senior Vice Presidenf of Washington International Insurance Company & Vice President of North American Specialty Insurance Company IN WITNESS WHEREOF, North American Specialty Insurance Company and Washington Intemational Insurance Company have caused their official seals to he hereunto affixed, and these presents to be signed by their authorized officers this 30th day of September. 20 08 . North American Specialty Insurance Company Washington International Insurance Company State of Illinois County of Du Page SS: On this 30th day of September 2008 , before me, a Notary Public personally appeared Steven P. Anderson ,President and CEO of Washington International Insurance Company and Senior Vice President of North American Specialty Insurance Company and David M. Layman , Senior Vice President of Washington International Insurance Company and Vice President of North American Specialty Insurance Company, personally known to me, who being by me duly sworn, acknowledged that they signed the above Power of Attorney as officers of and acknowledged said instrument to be the voluntary act and deed of their respective comoanies. "OFFICL-kL SEAL" NNA D. SKLENS Notary Public, Sim of Illinois My Commission Expires lo/06l i 1 6i IL�bG1 `l./. j " Donna D. Sklens, Notary Public I, James A. Carpenter , the duly elected Assistant Secretary of North American Specialty Insurance Company and Washington Intemational Insurance Company, do hereby certify that the above and foregoing is a true and correct copy of a Power of Attorney given by said North American Specialty Insurance Company and Washington Intemational Insurance Company, which is still in full force and effect. IN WITNESS WHEREOF, I have set my hand and affixed the seals of the Companies this 22ndday of January 20 09 James A. Carpenter, Vice President & Assistant Secretary of Washington International Insurance Company & North American Specialty Insurance Company KNOW ALL MEN 13Y THESE PRESENTS: That Sandler Investments, LLC 11 Harvest Lane Kalispell, MT 59901 and North American Specialty Insurance Company unto City of Kalispell 411 1 st Avenue E Kalispell, MT 59901 In the sum of Fifteen Thousand Dollars and 00/100 for the payment of which we bind ourselves, our legal jointly and severalty, firmly by these presents. , Principal, Surety, are held and firmly bound , Obligee, Dollars ($ 15,000.00 }, representatives, successors and assigns, WHEREAS, Principal has entered into a contract with Obligee, dated July 22, 2008 for 326 13th Street E Kalispell, MT Concrete Sidewalk, curbs and pave alleyway copy of which contract Is by reference made a part hereof. NOW, THEREFORE, if Principal shall, in accordance with applicable Statutes, promptly made payment to all persons supplying labor and material In the prosecution of the work provided for In said contract, and any and all duly authorized modifications of said contract that may hereafter be made, notice of which modifications to Surety Being waived, then this obligation to be void; otherwise to remain in full force and effect. � .. •r „ NANCYD.CATHCART NOTARY PUBLIC-MONTANA NOTARL4L`: a= '*`-• SEAL Residing at Kalispell, Montana SIGNED, SEALED AND DATED ' ,PF� R` `� My Comm.Expires� July 22, 2008 L'+ of + _as t1l; -kk JW Sandler Investments, LLC (Seal) (Principal) Y� cl)61) !�' :�' North American Specialty Insurance Company (} _ (Surety) By: 1 d Heine Attomey.4n•Fact NAS SURETY GROUP NORTH ANIERICAN SPECIALTY INSURANCE COMPANY WASHINGTON INTERNATIONAL INSURANCE COMPANY GENERAL POWER OF ATTORNEY KNOW ALL MENT BY THESE PRESENTS: THAT North American Specialty Insurance Company. a corporation duly organized and exist4 under laws of the State of New Hampshire. and having its principal office in the City of Manchester. New Hampshire. and Washington International Insurance Company, a corporation organized and existing under the laws of the State ofArizona and having its principal office in the City of Itasca Illinois, each does hereby make, constitute and appoint: ED HEINE. GEORGE S. SEATON. AIMEE N. CAVILL. TERRY PAYNE. KERRY HEINE. TIFFANY MCGONIGLE and JULIE A. MORAN JOINTLY OR SEVERALLY Its true and lawful Attorney (s)-in-Fact, to make, execute, seal and deliver, for and on its behalf and as its act and deed, bonds or other writings obligatory in the nature of a bond on behalf of each of said Companies, as surety, on contracts of suretyship as are or may be required or permitted by law, regulation, contract or otherwise, provided that no bond or undertaking or contract or suretyship executed under this authority shall exceed the amount of: TWENTY-FIVE MILLION (S25,000,000.00) DOLLARS This Power of Attorney is granted and is signed by facsimile under and by the authority of the following Resolutions adopted by the Boards of Directors of both North American Specialty Insurance Company and Washington International Insurance Company at meetings duly called and held on the 24" of March, 2000: "RESOLVED, that any two of the President, any Executive Vice President, any Vice President, any Assistant Vice President, the Secretary or any Assistant Secretary be, and each or any of them hereby is authorized to execute a Power of Attorney qualifying the attorney named in the given Power of Attorney to execute on behalf of the Company bonds, undertakings and all contracts of surety, and that each or any of them hereby is authorized to attest to the execution of any such Power of Attorney and to attach therein the seal of the Company; and it is FURTHER RESOLVED, that the signature of such officers and the seal of the Company may be affixed to any such Power of Attorney or to any certificate relating thereto by facsimile. and any such Power of Attorney or certificate bearing such facsimile signatures or facsimile seal shall be binding upon the Company when so affixed and in the future with regard to any bond, undertaking or contract of surety to which it is attached." p%AlJTrtl'j rri0i � �•�``�NKStDtHA[ By n_ Steven P. Mdee,s , Pruidenr & Chief Ezecutive OfTttr of Washington International Insurance Company $ : '�RPO � ➢ ^' - 5'wi7- 1273 0,(m ` Vice President or Norlh American specialty Insurance Company Y i SEAL _o ryrrrrl111111MIX By F/ * „'`• David M. Layman, Vice President of Wuhington International Insurance Company & Vice P resident of N orth American Speciniry Insurance Company IN WITNESS WHEREOF, North American Specialty Insurance Company and Washington International Insurance Company have caused their official seals to be hereunto affixed, and these presents to be signed by their authorized officers this 12th day of March �007 North American Specialty Insurance Company Washing on International Insurance Company State of Illinois County of Du Page ss: On this 12th day of March , 20 07 , before me, a Notary Public personally appeared Steven P. Anderson , President and CEO of Washington lntemational Insurance Company and Vice President of North American Specialty Insurance Company and David M. Layman . Vice President of Washington International Insurance Company and Vice President of North American Specialty Insurance Company, personally known tome, who being by me duly sworn. acknowledged that they signed the above Power of Attorney as officers of and aclmowledged said instrument to be the voluntary act and deed of their respective companies, `0FFlCLkL SEAL" SUSAN ANSEL N=ry Puta. Slate a( 006E Susan Ansel. Notan� Public c #kyComm�s+on &pires 71tv2t Q& 1. James A. Caroenter . the duly elected Assistant Secretan• of North American Specialnl Insurance Company and Washingron International Insurance Company, do hereby certify that the above and foregoing is a true and correct copy of a Power of Attorney Riven by said North American Specialty insurance Company and Washington International Insurance Company, which is still in fill force and effect. IN WITNESS WHEREOF, I have set my hand and affixed the seals of the Companies this day of t ?0 James A- Carpemen Vice Prom n, & As.n , Secmlary nfWV hingion Intemanona7 Insurance Company L `ionh Mtenczn Speaaln' Insurance Compam Public Works Department 9 July 2009 Mr. Dan Sandler 11 Harvest Lane Kalispell, MT 59901 Mr. Jason Morgan 454 1st Avenue WN Kalispell, MT 59901 RE: Eastside Townhouses (cka 326 13t" Street East Dear Sirs, JT0)V'WAYVA The utility improvements made at the above referenced project have not been completed. A Public Right -Of -Way Permit was issued April 6, 2009 by this Department. By applying for the permit, the Contractor certifies that all work will be completed in accordance with the Standards for Design and Construction for the City of Kalispell. Those Standards (along with Federal Regulations) require sidewalks to be compliant with ADA guidelines. City Standards also require restoration of the roadway within 14 calendar days of the backfill work. In order to complete the work and subsequently release the Bond, the following items must be corrected: • Remove the sidewalks adjacent to the curbs. Replace with ADA compliant ramps. Effort should be taken to ensure compliance with all applicable standards including slopes, grades, truncated domes, etc.. • Pave the roadway and alley with 4 inches of hot mix asphalt in compliance with City of Kalispell Standards. Failure to make these repairs by July 17, 2009 will result in the City of Kalispell hiring other contractors to complete the work and seizing the Bond for payment. Should you have any questions, do not hesitate to call. Sincerely, Mark Crowley Construction Manager Cc: Ed Heine, Payne Financial Group, P. O. Box 3327, Missoula, MT 59806 Planning Department Finance Department 201 1 S` Avenue East, P.O. Box 1997, Kalispell, MT 59903 —Phone (406)758-7720 — Fax (406)758-7831 www.kalispell.com To: Deb Deist City of Kalispell Treasurer From: Mark Crowle4af/d Constructionr Date: December 12, 2008 Re: Eastside Townhouses subdivision Deb, This department has received a request from the developer to extend the SIA for Eastside Townhouses. The current Payment Bond is still valid and this department concurs with the proposed completion date of May 1, 2009. Should you have any questions, do not hesitate to call. Cc: Dan Sandler; 11 Harvest Lane, Kalispell, MT 59901 Planning Department 201 I S` Avenue East, P.O. Box 1997, Kalispell, MT 59903 —Phone (406)758-7720 — Fax (406)758-7831 www.kalispell.com Return to: Theresa White Kalispell City Clerk 201 1"Avenue East Kalispell, MT 59901 THIS AGREEMENT, made and entered into this j( day of C(-- , 2005 , by and between the CITY COliNCIL, CITY OF KALISPELL, MONTANA, Party of the First Part and hereinafter referred to as the CITY, and no r t 81 die (Name of Developer) a (Individual, Company orCorporation) �p located at / 1 t✓ e`a .v d 1 e- e' i�c 5r.ie'f >f "' `7 5,C) (Street Address/P. O. Box) (City, County, State, Zip) Party of the Second Part and hereinafter referred to as DEVELOPER. WITNESSETH: THAT WHEREAS, the Developer is the owner and developer of a new subdivision known as sfs 1 J (Name of Subdivision) located at 7 t 5-/T e tx (Location of Subdivision) and, WHEREAS, the City has conditioned it's approval of the final plat of upon the conditions as set forth (Name of Subdivision) in the Preliminary Plat of the Subdivision being completed and all improvements, as cited in "Exhibit A" have not been completed at this time, and the Developer wishes to bond for the completion of those improvements set forth in "Exhibit A"; and WHEREAS, the City's Subdivision Regulations require that a subdivider shall provide a financial security of 125% of the estimated total cost of construction of said improvements as evidenced by an estimate prepared by a licensed public engineer included herewith as "Exhibit B"; and WHEREAS, the estimated total cost of construction of said improvements is the sum of yy l l NOW THEREFORE, in consideration of the approval of the final plat of said Subdivision by the City, the Developer hereby agrees as follows: 1. The Developer shall deposit as collateral with the City a Letter of Credit, or other acceptable collateral as determined by the City Council, in the amount of $ �/'_" 6, 0 Said Letter of Credit or other collateral shall have an expiration date of at least sixty (60) days following the date set for completion of the improvements, certifying the following: a. That the creditor guarantees funds in the sum of $ 1 the estimated cost of completing the required improvements in � , J,'icl' (Name of Subdivision) b. That if the Developer fails to complete the specified improvements within the required period, the creditor will pay to the City immediately, and without further action, such funds as are necessary to finance the completion of those improvements up to the limited of credit stated in the letter; 2. That said required improvements shall be fully completed by li20 d, 3 1 3. That upon completion of the required improvements, the Developer shall cause to be filed with the City a statement certifying that: a. All required improvements are complete; b. That the improvements are in compliance with the minimum standards specified by the City for their construction and that the Developer warrants said improvements against any and all defects for a period of two (2) years from the date of acceptance of the completion of those improvements by the City; c. That the Developer knows of no defects in those improvements; d. That these improvements are free and clear of any encumbrances or liens; e. That a schedule of actual construction costs has been filed with the City; and, f. All applicable fees and surcharges have been paid. 4. The Developer shall cause to be filed with the City copies of final plans, profiles, grades and specifications of said improvements, with the certification of the registered professional engineer responsible for their preparation that all required improvements have been installed in conformance with said specifications. IT IS ALSO AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS, TO -WIT: That the Developer shall provide for inspection of all required improvements by a registered professional engineer before the Developer shall be released from the Subdivision Improvement Agreement. That if the City determines that any improvements are not constructed in compliance with the specifications, it shall furnish the Developer with a list of specific deficiencies and may withhold collateral sufficient to insure such compliance. If the City determines that the Developer will not construct any or all of the improvements in accordance with the specifications, or within the required time limits, it may withdraw the collateral and employ such funds as may be necessary to construct the improvement or improvements in accordance with the specifications. The unused portions of the collateral shall be returned to the Developer or the crediting institution, as is appropriate. IN WITNESS WHEREOF, the Parties have hereunto set their hands and seals the day and year herein before written. (Name of Subdivision/Developer/Firm) by (Title) STATE OF MONTANA COUNTY OF )CL�-,�/4&-/4 D On this — /6*—dayof 20 before me, a Notary Public for the State of Montana, personally appeared 1-)1}A)IC-L d. known to me to be the 61,) /j CA— of �AS —is /�� whose name is subscribed to the foregoing instrument and acknowledged to me that he/she executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal this day and year first above written. .......... Notary Public for the State of Montana �,RIA Printed Names -sq Residing at 64 L4 S P �-1 e- My Commission Expires 93 0 ................ MAYOR, CITY OF KALISPELL ATTEST: 'rc OF �8 MAYOR CITY CLERK Subdivision Improvement Agreement Appendix E— Page 29 EXHIBIT A Conditions of approval as fixed to the preliminary plat by the City Council_ Kalispell. Montana. EXHIBIT B This agreement specifically includes the following improvements, their projected construction completion date and estimated construction costs. CHECK CONSTRUCTION ESTIMATED PERCENTAGE APPROPRI TE COMPLETION CONSTRUCTION COMPLETE IMPROV CENTS DATE COSTS / � Street Gradim, Paving J — l - 2-o0q _ 400 Street Base 00 Sidewalks ,.2 20D Ctu�bs and Gutters Sanitary Sewers Mains Other ( ) On -Site Sewage Facilities Water Systems Mains Other ( } On -Site Water Supply Water Storage Tanks Fire Hvdrants � 2 0on Storm Sewer or Drainage Facilities Street Signs Street Lighting Street :Monuments Survey Monument Boxes Landscaping/Boulevard trees ter✓� 'fc Other ( > SUBTOTAL FEES TOTALS COSTS j TOTAL COLLATERAL (TOTALS COSTS X 125%)