Deist to Klein/Letter of Credit ReturnCity of Kalispell
Post Office Box 1997 - Kalispell, Montana 59903-1997 - Telephone (406)758-7700 Fax (406)758-7758
October 30, 2007
The Meadows, LLC
Attn: Tom Klein
8 First Street East, Suite #204
Kalispell, MT 59901
Re: Letter of Credit No. 1-07-312 $ 727,003.86
Dear Mr. Klein,
I am returning the above mentioned letter of credit per Mark Crowley as the Public
Works Department concurs that the significant items have been constructed in
accordance with the approved plans and specifications.
If you have any questions, please call me at 758-7750.
Sincerely,
Deb Deist
City Treasurer
IRREVOCABLE LETTER OF CREDIT
C))
Letter of Credit No. 01-0
Dated: March 28, 2007
Expiration Date: March 28, 2008
Amount: $727,003.86
Kalispell City Council
City of Kalispell
P. O. Box 1997
Kalispell, MT 59901
We hereby establish in your favor an irrevocable Letter of Credit up to the aggregate
amount of $727,003.86 at the request of the Meadows, Inc., Thomas S. Klein and Jon R.
Halland.
If the Meadows, Inc. fail to complete the specified improvements in the Meadows
Subdivision 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This Letter may not be withdrawn or reduced in any amount prior to its expiration date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
v
Dave J. McNutt
Vice President
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