Northwest Healthcare Certificates of DepositGlen Neier, City Attorney
Richard Hickel, Asst. City Attorney
February 4, 1999
Linda Himsl
First Interstate Bank
P.O. Box 7130
Kalispell, MT 59904
P.O. Box 1997
Kalispell MT 59903-1997
Telephone: (406) 758-7708
Fax (406) 758-7771
Re: Northwest Healthcare - City of Kalispell
Certificates of Deposit #s 2300005505 & 2300005558
Dear Ms. Himsl:
Please be advised that Northwest Healthcare has completed
performance under certain Subdivision Improvement Agreements
entered into with the City of Kalispell. First Interstate Bank
issued the above referenced Certificates of Deposit for the benefit
of the City as security for performance of said Agreements. In
accordance with the terms of said Agreements, this office hereby
authorizes release of the above -referenced Certificates of Deposit.
I have executed Certificate of Deposit # 2300005505 and signed the
Indemnity document as you instructed. I assume Northwest Healthcare
will instruct you as to the disposition of the proceeds.
Thank you for your attention. If you have any questions please
contact me.
Sincere
Glen Neier
City Attorney
HAatt\wpTMcertificates.wpd
Time Certificatef ii'
Financial Institution: First Interstate Bank , FIB Kalispell
P.O. Box 7130, 2 Main Street, Kalispell, MT 59904- 0130 Number:
Account Name: NORTHWEST HEALTHCARE AND CITY OF KALISPELL SSWTIN: 81-04O6485
Account Number
Issue Date
Deposit Amount
Term
Maturity Date
2300005505
January 2, 1998
$82,963.00
12 Months
January 2, 1999
Rate information: This account is an interest bearing account. The interest rate on the account is 6.00% with an annual percentage yield of
6.00%.
The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect until January 2, 1999.
Interest begins to accrue on the business day you deposit norcash items (for example, checks). Interest will be compounded annually and will
be credited to the account at maturity. Interest on your account will be credited by adding the Interest to the principal.
Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to
the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each
day of the period and dividing that figure by the number of days in the period. We will use an interest accrual basis of 365 for each day in the
year. You must maintain a minimum balance of $1000.00 to obtain the disclosed annual percentage yield.
Limitations: You must deposit $1,000.00 to open this account. You may not make additional deposits into this account. You may not make
withdrawals from your account until the maturity date.
Time Account Information: Your account will mature on January 2, 1999. If you withdraw any of the principal before the maturity date we may
impose a penalty of 3 Months interest on amount withdrawn. The annual percentage yield assumes interest will remain on deposit until maturity.
A withdrawal will reduce earnings. This account will automatically renew. You will have 10 DAYS after the maturity date to withdraw funds
without penalty.
Account Fees: No Account Fees for 12 Month Auto Renew CD.
d Title of Auth" Weorized i cial Institution Suer
NOT TRANSFERABLE - NON NEGOTIABLE Z
TIME CERTIFICATE OF DEPOSIT 12 Q AUTO RENEW CD
We appreciate your decision to open a time certificate of deposit account 'th us. This Agreement sets forth certain conditions, rates, and ruffs that
are specific to your Account. Each signer acknowledges that the Account Holder named has placed on deposit with the Financial Institution the
As in this Agreement, the "you", "your"
Deposit Amount indicated, and has agreed to keep the Tunds on deposit until the Maturity Date. used words or
"yours" mean the Account Holder(s), the wad "Account" means this Time Deposit Agreement Account and the word "Agreement" mans this Time
Certificate of Deposit Agreement, and the wads "we", "us" and "our" mean the Financial Institution. This Account is effective as of the Issue Date and
is valid as of the date we receive credit for noncash items (such as checks drawn on other financial institutions) deposited to open the Account.
Deposits of foreign currency will be converted to U.S. funds as of the date of deposit and will be reflected as such on our records.
INTEREST RATE. The interest rate is the annual rate of interest paid on the Account which does not reflect compounding ("Interest Rate"), and is
based upon the interest accrual basis described above.
AUTOMATIC RENEWAL POLICY. If the Account will automatically renew as described above, the principal amount and all paid earned interest that
has not been withdrawn will automatically renew on each Maturity Date for an identical period of time as the original deposit term. Interest on
be the interest then in for time deposits that Deposit Amount and term. f wish to withdraw
renewed accounts will calculated at rate effect of you
funds from your Account, you must notify us during the grace period after the Maturity Date.
EARLY WITHDRAWAL PENALTY. You have agreed to keep the funds on deposit until the Maturity Date of your Account. Any withdrawal of all or
the funds from Account to maturity may result in an early withdrawal We will consider requests for early withdrawal and, if
part of your prior penalty.
granted, the penalty as specified above will apply.
Minimum Required Penalty. The Minimum Required Penalty is equal to seven (7) days' simple interest. if an amount in excess of the
forfeiture the interest that has
Minimum Required Penalty is specified, the early withdrawal penalty will be calculated as a of part of accrued or would
has interest that the be deducted from interest, if the
be earned on the Account. if your Account not yet earned enough so penalty can earned or
interest already has been paid, the difference will be deducted from the principal amount of your Account.
Exceptions. We may allow the withdrawal of all or part of your Account before the Maturity Date without imposing an early withdrawal penalty
in the following circumstances: (1) one or more of you dies or is determined legally incompetent by a court or other administrative body of competent
Jurisdiction; (2) where the Account is an individual Retirement Account (iRA) and any portion is paid within seven (7) days after establishment; or
the Account is a Keogh Plan (Keogh), that forfeit an amount at least equal to the interest earned on the amount withdrawn; or
where provided you
where the Account is an IRA or Ksog and you attain age 59 1/2 or become disabled; or (3) within an applicable grace period (if any).
RIGHT OF SETOFF. Subject to applicable law, we may exercise our right of setoff against any and all of your Accounts (except IRA, Keogh plane and
Trust Accounts) for liability debt whether joint or individual, whether direct or contingent, whether
without notice, any or of any of you,
hereafter whether arising from overdrafts, endorsements loans, or other obligations. If the account is a joint account, each
existing and guarantees,
joint account holder authorizes us to exercise our right of setoff against any and all Accounts of each account holder.
OTHER ACCOUNT RULES. The following rules also apply to the Account.
Surrender of Instrument. We may require you to endorse and surrender this Agreement to us when you withdraw funds, transfer or dose
your Account. if you lose this Agreement, you agree to sign any affidavit of lost instrument, or other Agreement we may require, and agree to hold us
harmless from liability, prior to our honoring your withdrawal or request.
Death of Account Holder. Each Account Holder agrees to notify us immediately upon the death of any other Account Holder. You agree that
we may hold the funds in your Account until we have received all required documentation and instructions.
Indemnity. if you ask us to follow instructions that we believe might expose us to any claim, liability or damages, we may refuse to follow your
instructions or may require a bond or other protection, including your agreement to indemnify us.
Pledge. You agree not to pledge your Account without our prior consent. You may not withdraw funds from your Account until all obligations
secured by your Account are satisfied.
Pa e 1 of 2
DEPOSIT PRO, Rag, U.S. Pat. i T.M. OFF., Var. 9.03a (c) 1297 Lfl P-Sa—cas, 1"c. A9 Rtghu Rasarvad. MT - L760
SURRENDER OF TIME CERTIFICATE OF DEPOSIT
CD #
This certificate Is hereby surrendered. Date:
Number of Signers Required: Any one (1) of the Authorized Signers(s) shown below.
ACCOUNT HOLDER:
Page 2of2
DEPOSIT PRO, Rap. U.S. P— i T-M. OFF., Vr. $.0U W 1N7 CH Pr*S*r os, W- AN RgMf 11—ve0. MIT - L700
Feb 04 99 02:43p First Interstate Bank 4b1-756-5262 p•2
STATE OF MONTANA INDEMNITY FOR EAST
OFFICIAL CHECK
FESSL OR
County Of LATHCERTIFICATE
OF DEPOSIT
The undersigned is that hdshe is the rightful owner of
TIME CERTIFICATE
(OFFICIAL CHECK, CD)
Issued to NORTH4 FM EW- ALTHCARE CORP &
CITY OF KALISPELL
Number 2300005558
THOUSANDin the amount of NINETY IME
AND :• ♦*are
ru
O Dated 2/4/98I9 and is entitled to the
a- proceeds thereof: and that the said original doamtent has been
0 p lost, stolen, or destroyed.
M
W In consideration of payment of funds on the said document«
®® the undersigned hereby agrees to indemnify First Interstate
Bank against any and all future claims and losses resulting
from the lwasentation of the above described instrument or re-
quest for payment in any form or by any person.
If the document is found or is recovered. the undersigned
agrees to return it to the First Interstate Bank. The undersign-
ed if more than one. ahal be joi y and y bound and
Gable hereunder-
- -- — ---
SIGNATURE
ADDRESIr— _
ADDRESS
Subscribed and sworn to before me this
1'
N Public . i
TEL gs (Rrv. t49?! `/// �J7Q_ a` `�-
$iiliacs Times �.�i�,(�(�%"" Y _
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Office of the City Attorney
Glen Neier; City Attorney
Richard Hickel, Asst. City Attorney
February 4, 1999
Holly Gembala
Northwest Healthcare
310 sunnyview Lane
Kalispell, MT 59901
P.O. Box 1997
Kalispell MT 59903-1997
Telephone: (406) 758-7708
Fax (406) 758-7771
Re: Certificates of Deposit - Buffalo Commons
Dear Ms. Gembala:
Please find enclosed copies of documents I mailed today to First
Interstate Bank regarding the above -referenced matter. I trust
our efforts will result in a return of the funds to the use of
Northwest.
If you have any questions please contact me.
since ly,
Glen r
City ttorney