Deist to Davis & Wheeler/Letter of Credit ReturnCity of Kalispell
Post Office Box 1997 - Kalispell, Montana 59903-1997 - Telephone (406)7.58-7700 Fax (406)758-7758
January 29, 2008
Peter J. Davis
Jennifer Wheeler
PO Box 27
Kalispell, MT 59903-0027
Re: Letter of Credit No. 01-07-318 $ 15.921.88
Dear Mr. Davis and Ms. Wheeler,
I am returning the above mentioned letter of credit per Mark Crowley as the Public
Works Department concurs that the significant items have been completed in accordance
with the approved plans and specifications. I have also included copies of modifications
to Letter of Credit No. 1-06-284. The actual letter of credit was previously returned
according to my records.
If you have any questions, please call me at 758-7750.
Sincerely,
Deb Deist
City Treasurer
Cc: Morrison-Maierle
1228 Whitefish Stage Road
Kalispell, MT 59901
Hutton Ranch Plaza Associates, LLC
Attn: Chris Bezat
135 Hutton Ranch Plaza, Suite 9103
Kalispell, MT 59901
f
City of Kalispell
Building Department
P. O. Box 1997
Kalispell, MT 59901
E
Letter of Credit No. 01-07-318
Dated: June 14, 2007
Expiration Date: August 1, 2007
Amount: $15,921.88
We hereby establish in your favor an irrevocable Letter of Credit up to the aggregate
amount of $15,821.88 at the request of Hutton Ranch Plaza Associates, LLC.
If Hutton Ranch Plaza Associates, LLC fails to complete the specified improvements in
the Hutton Ranch Plaza Phase 1 within the time period set forth in the attached
Improvements Agreement, we will pay on demand your draft or drafts for such funds, to
the limit of credit set forth herein, as are required to complete said improvements. All
drafts must indicate the number and date of this Letter of Credit and be accompanied by a
signed statement of an authorized official that the amount is drawn to install
improvements not installed in conformance with the Improvements Agreement and
specifying the default or defect in question.
All drafts must be presented prior to the expiration date stated above, and this Letter of
Credit must accompany the final draft for payment.
This Letter may not be withdrawn or reduced in any amount prior to its expiration date
except by your draft or written release.
GLACIER BANK
Peter J. Davis
Vice President
#-.b•.k.co
..email:glacier@glacierbank.com
OPPORTUNITYMEMBER FDIC AN EQUAL LENDER
P. O. Box 27
202 Main Street
August 6, 2007
Kalispell City Council
City of Kalispell
PO Box 1997
Kalispell, MT 59903
Kalispell, MT 59903
RE: Hutton Ranch Plaza Associates, LLC
Modification to Letter of Credit No. 1-06-284
Current Amount: $212,812.50
Current Expiration Date: September 30, 2007
Modified Amount: $91,000.00
Phone # (406) 756-4299
Fax # (406) 758-4380
The above Letter of Credit was established in your favor for the account of Hutton Ranch Plaza
Associates, LLC, 135 Hutton Ranch Road, Suite 103, Kalispell, MT 59901.
Effective August 6, 2007, the amount of the Letter of Credit is reduced to $91,000.00. All other terms
and conditions of the original Letter of Credit dated April 25, 2006 will remain unchanged.
Please attach this modification to the original Letter of Credit. To the extent applicable, the original
Letter of Credit and this Modification are subject to the Montana Uniform Commercial Code and the
Uniform Custom and Practice for the Documentary Credits (2007 Revision) International Chamber of
Commerce Document No. 600.
Sincerely,
f
Jennifer Wheeler
Assistant Vice President
May 25, 2007
Kalispell City Council
City of Kalispell
PO Box 1997
Kalispell, MT 59903
RE: Hutton Ranch Plaza Associates, LLC
Modification to Letter of Credit No. 1-06-284
Current Amount: $614,482.50
Current Expiration Date: July 31, 2007
Modified Amount: $212,812.50
Extended Maturity Date: September 30, 2007
The above Letter of Credit was established in your favor for the account of Hutton Ranch
Plaza Associates, LLC, 4 Sunset Plaza, Suite 201, Kalispell, MT 59901.
Effective May 25, 2007, the amount of the Letter of Credit is reduced to $212,812.50 and
the Maturity Date will be extended to September 30, 2007. All other terms and
conditions of the original Letter of Credit dated April 25, 2006 will remain unchanged.
Please attach this modification to the original Letter of Credit. To the extent applicable,
the original Letter of Credit and this Modification are subject to the Montana Uniform
Commercial Code and the Uniform Custom and Practice for the Documeritary Credits
(1993 Revision) International Chamber of Commerce Document No. 500.
Sincerely,
Jennifer Wheeler
Assistant Vice President
website:eba o, email:glacier@glacierbank.com