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Letters of Credit
City of Kalispell Public Works Department Post Office Box 1997, Kalispell, Montana 59903-1997 - Telephone (406)7.58-7720, Fax (406)758-7831 MEMORANDUM December 12, 2008 To: Deb Deist, City Trea urer From: f r ction Manager i Re: Mountain Vista subdivision The engineer for the referenced project has requested a release of the SIA of Phases 2 and 3 (attached). The Public Works Department concurs that the items have been constructed in accordance with the approved plans and specifications and the letters of credit should be released. Cc: 48 North PC 151 Business Center Loop, Suite A Kalispell, Montana 59901 Planning Department 48 l TITI A (C. 151 Business Center Loop Ste. A, Kalispell, MT 59901 s (P) 406-756-4848 a (F) 406-756-4849 November 25, 2008 Attn: Frank Castle City of Kalispell Public Works Department 312 1" Ave. East Kalispell, MT. 59903 RE: Final Approval for Mountain Vista Subdivision Dear Frank: As Engineer of record for Mountain Vista Subdivision, Phase I,II,& III,1 herby certify that the construction of the items that are shown in the attached EYnibit A's have been completed to the best of my knowledge. The percentage of work complete as of June 3, 2008 for Mountain Vista Subdivision, is at 100%. Security held for phase I was released on or about January 8, 2007 Security held for phase II was in the amount of $95,070.25 and security held for phase III was in the amount of $142,194.37. At this time we are requesting a letter of approval from the City of Kalispell stating that you are in agreement with improvements installed to date and reduction of security held. If you have any questions or require additional information please feel free to give me a call (406-756-4848). Sincerely, Brett Walcheck, P.E. 48 North, P.C. Enclosures: Exhibit A - Certification of Work to be Completed for Phase I,II,III City of Kalispell Planning Department 17 - 2"d Street East, Suite 211, Kalispell, Montana 59901 Telephone: (406) 751-1850 Fax: (406) 751-1858 Website: www.kalispell/planning.com MEMORANDUM To: Deb Deist, City Treasurer From: Michelle Anderson, Planning Office Date: March 19, 2008 Subject: Mountain Vista Estates, Phase 2 — Bike Path SIA Attached is a check in the amount of $2498.60 for the Bike Path Subdivision Improvement Agreement for Mountain Vista Estates Phase 2 Final Plat. If you have any questions contact our planner Nicole Johnson. -s rl�lyd- 0 cn D 0 n m n T` O o O m X co Oc on X D Cl) z N CDco N w a N W 0 C to n n O m CD Z Q � = Cl) Zq c �� ® o0 N ai �7 m C: N C u p m _ OD 3 Q m 55 z < p�� z 0 a r O A D r- z O Np N D (D m Op C p Ul D -P. W h) OD r- -zi 0 m O O o D u 0 O -1 < m 0 CD v v v � D 0 O < N � O z N c tD O N O S, m J D x z O c 0 p N z c � D o m I- O N D A O 3 90 0 O I ZNCG6749 SF VALLEY BANK ^� 406 752 0 REMITTER ai am wee, _ 1/[3 �[6�l, 9901 115255 w .valleybFly = TOUCHSTONE, LLC 93-229/929 N.W. PORTION PH. II BIKE PATH (125%) DATE 3/14/2008 PAY TO THE ORDER OF *******City of KalisPell***************************$2,498.60******************** maw 11 11 VALLEY BANK OF KALISPELL - CASHIER'S CHECK B 1) L =. "' L IS 2 SLII' 4:09 290 2 29 00 2ill 06 Sus CITY OF KALISPELL 10/20/08 3:22 PM CASH MTN VISTA/TOUCHSTONE RECEIPT NO:A262834 AMOUNT FMSM MTN VISTA/TOUCHSTONE 2,498.60 SEC DEP/DIME PATH IN SUBDIVISION PAYMENT RECEIVED AMOUNT CM 115255 2,498.60 TOTAL 2498.60 City of Kalispell Post Office Box 1997 - Kalispell, Montana 59903-1997 - Telephone (406)758-7700 Fax (406)758-7758 December 19, 2008 Touchstone, LLC 1289 N. Meridian Kalispell, MT 59901 Re: Security Deposit in the form of cashier's check 115255 Dear Sirs, $2498.6 VO4 I will be returning the security deposit of $ 2498.00 via our accounts payable system per Mark Crowley as the public works department concurs that the work is complete and in accordance with City standards enabling the security to be released. We process AP checks twice a month so you will receive it within a couple of weeks. I have also returned the letters of credit to the banks on this subdivision as per attached letters. If you have any questions, please call me at 758-7750. Sincerely, Deb Deist City Treasurer Cc: Touchstone, LLC 1289 N. Meridian Kalispell, MT 59901 City of Kalispell Post Office Box 1997 - Kalispell, Montana 59903-1997 - Telephone (406)758-7700 Fax (406)758-7758 December 19, 2008 Flathead Bank Diana Ruddy 120 Hutton Ranch Road Kalispell, MT 59901 Re: Letter of Credit No. 200803 $ 139,695.77 Dear Ms. Ruddy, I will be returning the above mentioned letter of credit per Mark Crowley as the public works department concurs that the work is complete and in accordance with City standards enabling the security to be released. If you have any questions, please call me at 758-7750. Sincerely, Deb Deist City Treasurer Cc: Touchstone, LLC 1289 N. Meridian Kalispell, MT 59901 FLATHEAD BANK Kalispell - Montana February 28, 2008 IRREVOCABLE LETTER OF CREDIT NO.200803 City Council City of Kalispell 248 3rd Ave East Kalispell, MT 59901 RE: Touchstone, LLC Flathead Bank of Bigfork has established an Irrevocable Letter of Credit in your favor, at the request of Touchstone, L-LC, to the extent of ONE HUNDRED THIRTY NINE THOUSAND SIX HUNDRED NINETY FIVE DOLLARS AND 77/100, as a performance bond for the above referenced Developer. Said funds are available by presentation of your sight draft(s) which: (a) clearly specify the number of this credit, and (b) are drawn in favor of project cited above. Drafts drawn in conformity with conditions of this credit will be honored by us if presented at our bank on or before AUGUST 3, 2008. Bank represents that it is FDIC insured. Sincerely, Diana Ruddy �-/ Kalispell Branch President DR/ae 120 Hutton Ranch Road • Kalispell, MT 59801 • 406-752-4050 • FAX 406-752-4089 • www.flatheadbank.com Return to: Theresa White Kalispell City Clerk P.O. Box 1997 Kalispell, MT 59903 � THIS AGREEMENT, made and entered into this % j�i" day of ( ^ r , 200 Y , by and between the CITY COUNCIL, CITY OF KALISPELL, MONTA A, Party of the First Part and hereinafter referred to as the CITY, and TOUCHSTONE LLC, located at 135 W. Idaho, Suite B, Kalispell, MT 59901, 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 MOUNTAIN VISTA ESTATES PHASE III located at Parcel A, Certificate of Survey No. 16814, Section 2, Township 28 North, Range 22 West, P.M.M., Flathead County, and WHEREAS, the City has conditioned it's approval of the final plat of MOUNTAIN VISTA ESTATES PHASE I11, upon the conditions as set forth 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 $113,755.50. 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 $142,194.37. 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 $142,194.37 the estimated cost of completing the required improvements in MOUNTAIN VISTA ESTATES PHASE III. 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 JUNE 3, 2008. 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 one (1) year 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. TOUCHSTONE, LLC. PHILL G. NEUHARTH, JR. Member of Touchstone, LLC STATE OF MONTANA County of Flathead DAVID J. WALKER Member of Touchstone, LLC This instrument was acknowledged before me on \mac, ,`c,200y, by PHILLIP G. NEUHARTH, JR. AND DAVID J. WALKER, Members of Touchstone, LLC. SH 4t• Printed Names qN®1AR/'qC Notary Public for the State of Montana Residing at K'\ � \ EAL My Commission Exphs � $— \\ CITY OF KALISPELL ATTEST: MAYOR EXHIBIT A Conditions of approval as fixed to the preliminary plat by the City Council, Kalispell, Montana. EXHIBIT B Certification of work to be completed. EXHIBIT "A" CERTIFICATION OF WORK TO BE COMPLETED MOUNTAIN VISTA PHASE III SUBDIVISION ROADS & OVERLOT GRADE Completed To Date February 19, 2008 Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 101 ITopsoil Removal/Replacement C.Y. 5,966 $1.68 $10,022.88 5,500 $9,240.09 102 Excavation / Subgrade Prep C.Y. 6,556 $2.08 $13,636.48 6,556 $13,636.48 103 Stabilization Fabric S.Y. 4,752 $1.30 $6,177.60 4,752 $6,177.60 104 Select Subbase C.Y. 1,188 $17.00 $20,196.00 1,188 $20,196.00 105 3/4" Crushed Gravel C.Y. 683 $19.25 $13,147.75 551 $10,608.92 106 4" Ashpaltic Cement S.Y. 3,914 $11.85 $46,380.90 0 $0.00 107 Curb & Gutter L.F. 2,485 $9.75 $24,228.75 2,485 $24,228.75 108 5' x 4" Concrete Sidewalks / Gravel S.F. 12,425 $3.50 $43,487.50 0 $0.00 SUBTOTAL ITEMS 101 -108 1 $177,277.86 $84,087.84 WATER SYSTEM Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 201 8" Water Main L.F. 1,246 $23.00 $28,658.00 1,246 $28,658.00 202 8" Gate Valves & Boxes EACH 1 $1,300.00 $1,300.00 1 $1,300.00 203 12" & 8" Ductile Iron Fittings EACH 2 $500.00 $1,000.00 2 $1,000.00 204 Fire Hydrants w/ Tee, Pipe, Aux. Valve & Box EACH 2 $3,800.00 $7,600.00 2 $7,600.00 205 Water Services EACH 40 $595.00 $23,800.00 40 $23,800.00 SUBTOTAL ITEMS 201 - 205 $62,358.00 JI $62,358.00 SEWER SYSTEM Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed .Total Cost Completed 301 8" Sewer Main L.F. 1,157 $19.00 $21,983.00 1,157 $21,983.00 302 4' Diam. Manholes w/ Ring & Cover EACH 6 $1,600.00 $9,600.00 6 $9,600.00 303 4" Sch. 40 PVC Sewer Services EACH 40 $600.00 $24,000.00 40 $24,000.00 SUBTOTAL ITEMS 301 - 303 1 $55,583.00 $55,583.00 DRAINAGE & MISCELLANEOUS WORK Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 401 Catch Basin w/ Inlet EA. 1 $1,200.00 $1,200.00 1 $1,200.00 402 Bike Path /6" base LF 1,359 $12.00 $16,308.00 554 $6,650.40 403 Bike Path /With 6 Bollards/12" base LF 258 $15.50 $3,999.00 0 $0.00 404 Additional Bike Path (Jackson Peak to The North) LF 124 $16.12 $1,998.88 0 $0.00 405 ISeeding LS. 1.00 $1,000.00 $1,000.00 0 $0.00 406 Traffic Control LS. 1.00 $300.00 $300.00 0.00 $0.00 407 Mobilization LS. 1.00 $3,000.00 $3,000.00 0.66 $1,980,00 408 Construction Surveying LS. 1.00 $9,000.00 $9,000.00 0.89 $8,010.00 SUBTOTAL ITEMS 401 - 408 $36,805.88 $17,840.40 UTILITIES - TRENCHING, CONDUIT, VAULTS & LIGHTS Completed To Date February 19, 2008 Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 501 Common Trench LF 2,480 $ 4.00 $9,920.00 2,480 $9,920.00 502 Street Light Conduit Trench LF 68 $ 4.00 $272.00 68 $272.00 503 3 Phase Vaults EA 1 $ 1,280.00 $1,280.00 1 $1,280.00 504 Single Phase Vaults EA 4 $ 730.00 $2,920.00 4 $2,920.00 505 Light Pole Bases (FEC) EA 4 $ 550.00 $2,200.00 4 $2,200.00 506 5" Conduit LF 120 $ 8.50 $1,020.00 120 $1,020.00 507 4" Conduit LF 260 $ 6.80 $1,768.00 260 $1,768.00 508 3" Conduit LF 4,068 $ 3.00 $12,204.00 4,068 $12,204.00 509 2" Conduit LF 3,024 $ 2.75 $8,316.00 3,024 $8,316.00 510 1" Conduit LF 98 $ 2.50 $245.00 98 $245.00 512 3" Steel or Fiberglass Sweeps EA 3 $ 150.00 $450.00 3 $450.00 513 3" PVC Sweeps EA 94 $ 50.00 $4,700.00 94 $4,700.00 514 2" PVC Sweeps EA 105 $ 40.00 $4,200.00 105 $4,200.00 515 Secondary Pedestals EA 19 $ 50.00 $950.00 19 $950.00 516 Si na a LS 1 $ 605.00 $605.00 1 $605.00 SUBTOTAL ITEMS 501-516 1 1 $51,050.00 $51,050.00 Total Construction Total Construction Completed to Date SERVICE COSTS, FEES, ENGINEERING 383,074.74 Item No. Description Unit Measure Estimated Quantity Unit Price Total Price 601 Flathead Electric LUMP SUN 1 $ 34,168.00 $ 34,168.00 602 Northwestern Energy LUMP SUN 1 $ 11,149.00 $ 11,149.00 603 Engineering, Construction LUMP SUIV 1 $ 8,000.00 $ 8,000.00 SUBTOTAL ITEMS 601 - 603 1 1 $ 53,317.00 TOTAL PROJECT BUDGET TOTAL ESTIMATED COST OF CONSTRUCTION AMOUNT COMPLETED PRIOR TO BONDING AMOUNT OF REMAINING WORK PRIOR TO BONDING AMOUNT OF BOND (125% OF REMAINING WORK) AMOUNT OF WORK COMPLETED TO DATE PERCENTAGE OF WORK COMPLETED TO DATE AMOUNT OF WORK REMAINING ORIGINAL BOND AMOUNT AMOUNT OF BOND TO BE RETAINED (125% OF REMAINING WORK) BOND AMOUNT TO BE RELEASED AMOUNT PREVIOUSLY RELEASED AMOUNT TO BE RELEASED AT THIS TIME $436,391.74 $ 436,391.74 $ 322,636.24 $ 113,756.50 $ 142,194.37 322,636.24 74% 113,755.50 $270,919.24 QUANTITY TOTAL COST COMPLETED COMPLETED 100% $34,168.00 100% $11,149.00 $51,717.00 $322,636.24 $ 142 194.37 $ 142,194.37 $0.00 ° $0.00 r- $0.00 j!l (==f' ZE : T? a I CHECK V Cl- AS PROJECT ENGINEER FOR THE MOUNTAIN VISTA SUBDIVISION PHASE III, I CERTIFY THAT THE i t 1 WORK LISTED HEREIN IS CORRECT. IN ADDITION, I CERTIFY THAT THE ASSOCIATED COSTS r` ARE REASONABLY ACCURATE ESTIMATES OF THE RESPECTIVE COSTS OF THE WORK. THE \ No. I7 VALUE OF CONSTRUCTION AND OTHER WORK COMPLETED TO DATE IS ESTIMATED TO BE: $ 322:636.24 THE TOTAL VALUE OF REMAINING WORK, SERVICES AND FEES IS ESTIMATED TO BE: $ 113755.50 Ws�< f ` SECURITY HELD AT 125% OF THE REMAINING COSTS SHOULD BE IN THE AMOUNT OF: $ 142,194.37 THEREFORE, IT IS IN ACCORDANCE WITH THE SUBDIVISION IMPROVEMENTS AGREEMENT TO REDUCE THE TOTAL AMOUNT OF THE SECURITY HELD BY: $0.00 BRETT WALCHECK, P.E. *ALL IMPROVEMENTS SHALL BE COMPLETED BY: 6/3/2008 I City of Kalispell Post Office Box 1997 - Kalispell, Montana 59903-1997 - Telephone (406)758-7700 Fax (406)758-7758 December 19, 2008 Valley Bank Gary Madison P.Q. Box 48 Kalispell, MT 59903-0048 Re: Letter of Credit No. 1280 $ 46,485.25 Letter of Credit No. 1281 $ 48,585.00 Mountain Vista Estates Phase II Dear Mr. Madison, I will be returning the above mentioned letter of credit per Mark Crowley as the public works department concurs that the work is complete and in accordance with City standards enabling the security to be released. If you have any questions, please call me at 758-7750. Sincerely, Deb Deist City Treasurer Cc: Touchstone, LLC 1289 N. Meridian Kalispell, MT 59901 VALLEY AOF KALISPELL June 19, 2007 Beneficiary: City of Kalispell 312 Is'Ave E. Kalispell, MT 59901 Gentlemen: Applicant: Touchstone, LLC ` 1289 N. Meridian Kalispell, MT 59901 The Valley Bank of Kalispell has established an irrevocable letter of credit in your favor at the request of and for the account of Touchstone, LLC., to the extent of Forty Six Thousand Four Hundred Eighty Five Dollars and 25/100*($46,485.25) to complete the specified improvements in the Mountain Vista Estates Phase II. Said funds are available by presentation of your sight draft(s), which clearly specify the number of this credit and are drawn in favor of the secured party cited above. We will honor draft(s) drawn in conformity with the conditions of this credit if presented at our office on or before June 29, 2008. Sincerely, Valley Bank of Kalispell - AZ 4 V, 4 1 flleli: /�� =gep� Gary M. adison, Senior Vice President GMM:le P.O. Box 48 - KALISPELL, MIT 59903-0048 406-752-71 23 a FAX 406-752-7320 - WWW.VALLEYBA,NKMT.COM MEMBER FDIC VALmL E I B A N K OF KALISPELL June 22, 2007 City of Kalispell Parks & Recreation 312 1st Ave E. Kalispell, KT 59901 Gentlemen: 1� 4/ �a• Touchstone, LLC 1289 N. Meridian Kalispell, MT 59901 The Valley Bank of Kalispell has established an irrevocable letter of credit in your favor at the request of and for the account of Touchstone, LLC., to the extent of Forty Eight Thousand Five Hundred Eighty Five Dollars and 00/100*($48,585.00) to complete the specified improvements in the Mountain Vista Estates Phase II. Said funds are available by presentation of your sight draft(s), which clearly specify the number of this credit and are drawn in favor of the secured party cited above. We will honor draft(s) drawn in conformity with the conditions of this credit if presented at our office on or before June 29, 2008. Sincerely, Valley Bank of Kalispell Gary M. , diso , Seni r Vice President GMM:le P.O. BOX 48 a KALISPELL, MT 59903-0048 406-752-7123 - FAX 406-752-7320 - WWW.VALLEYBANKMT.COM MEMBER FDIC ryr.. City Ci of Kalispell - - p Post Office Box 1997 - Kalispell, Montana 59903-1997 - Telephone (406)758-7700 Fax(406)758-7758 December 19, 2008 Whitefish Credit Union Dana Henderson PO Box 37 Whitefish, MT 59937 Re: Letter of Credit No. 147 $24, 088.68 Mountain Vista Estates I am returning the above mentioned letter of credit. It is long expired and I believ& the security was replaced with a different security deposit. Mark Crowley in the public works department has notified me that the work is complete and in accordance with City standards enabling the security to be released. If you have any questions, please call me at 758-7750. Sincerely, Deb Deist City Treasurer Cc: Touchstone, LLC 1289 N. Meridian Kalispell, MT 59901 ISSUER: WHITEFISH CREDIT UNION PO BOX 37 WHITEFISH, MT 59937 Date of Issue:05.30.2006 Letter of Credit Number: Amount: U.S. $ 24 088.68 ( TWENTY FOUR THOUSAND EIGHTY EIGHT AND 681100 U.S. DOLLARS) For Benefit Of: Beneficiary Name and Address CITY OF KALISPELL CITY HALL, KALISPELL, MT 59901 For Account Of: Applicant Name and Address DAVID J. WALKER 1405 WHALEBONE DR KALISPELL, MT 59901.7417 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. IN 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 DOCUMENTS. Each Draft must be accompanied by the following, in original and two copies except as stated: ® The original Letter of Credit, together with any amendments. ❑ A sight draft drawn by Beneficiary on Issuer. ❑ A signed statement by Beneficiary including the following statement: ❑ Other documents: 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 identify or authority of the person presenting the draft and such documentation. SPECIAL INSTRUCTIONS: EXPIRATION DATE. This Letter of Credit expires at the close of business at Issuer's address at 12:00 P.M. (Time) on 12.31.2006 (Date). Issuer agrees to honor all Drafts presented in strict compliance with the provisions of this Letter of Credit on or before the Expiration Date. ❑ If Beneficiary has not drawn the full amount of this Letter of Credit prior to the Expiration Date, the Expiration Date shall be extended for a period of days from the Expiration Date, unless Issuer notifies Beneficiary in writing at least days prior to the Expiration Date that Issuer elects not to extend this Letter of Credit. In any event, this Letter of Credit shall expire on without any notice from Issuer to Beneficiary. -oa" ©2001 Bankers Systems, Inc., St. Cloud, MN Form LC -STANDBY 1/15/2002 (page 1 of 2) Return to: 1 IIIIIIII IIII HE III III 11111111111111111111111111111111111111111111111111111 HE 111I II I III IIII I11 200700022051 Fees: $35.00 by: JL Theresa White AGREEMENT by KALISPELL CITY ATTN/T WHITE Kalispell City Clerk Date 7/24/2007 Time 9:40 AM Page: 1 of 5 P.O. Box 1997 Paula Robinson, Flathead County Montana Kalispell, MT 59903 APPENDIX E SUBDIVISION IMPROVEMENT AGREEMENT t 0 THIS AGREEMENT, made and entered into this 2 day of July , 20 07, by and C} \A between the CITY COUNCIL, CITY OF KALISPELL, MONTANA, Party of the First Part and hereinafter referred to as the CITY, and Touchstone LLC. , Lo (Name of Developer) �-- a LIMITED LIABILITY CORPORATION a(Individual, Company or Corporation) located at 1289 N. MERIDIAN RD, KALISPELL, MT. 59901 , V) (Street Address/P. O. Box) (City, County, State, Zip) �3 Party of the Second Part and hereinafter referred to as DEVELOPER. ITNESSETH: THAT WHEREAS the Developer is the owner and developer of a new subdivision known as MOUNTAIN VIST SUBDIVISION PHASE II , (Name of Subdivision) fo located at PARCEL A OF CERTIFICATE OF SURVEY, LOCATED IN SECTION 2, TOWNSHIP 28 N RTH RANGE 22 WEST P.M.M. FLATEHEAD COUNTY MONTANA. 7 C (Location of Subdivision) (j and, l� (�Ebfh 0 WHEREAS, the Cityas conditioned it's approval of the final plat of MOUNTAIN VISTAtt SUBDIVISION PHASE II , 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 d- completion of those improvements set forth in "Exhibit A"; and oWHEREAS, the City's Subdivision Regulations require that a subdivider shall provide a to financial security of 125% of the estimated total cost of construction of said improvements as 6 evidenced by an estimate prepared by a licensed public engineer included herewith as "Exhibit R A"; and d WHEREAS, the estimated total cost of construction of said improvements is the sum of $ 76 056.20 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 $ 95,070.25 . 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 $ 95,070.25 , the estimated cost of completing the required improvements in MOUNTAIN VIST SUBDIVISION PHASE II r' (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 December 29, 20 07 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 one (1) year 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. Document Number: 200700022051 Page: 2 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. _MOUNTAIN VISTA SUBDIVISION / TOUCHSTONE, LLC (Name of Subdivision/Developer/Firm) by _ 6 (Title) STATE OF MONTANA COUNTY OF F7L,4-rqeAD On this 1-14 day of ifs , 20 Q , before me, a Notary Public for the State of Montana, personally appeared DA Vi b t . kfk (.-k-E-M- , known to me to be the of 11 `7 I-i-c, , whose name is subscribed to the foregoing instrument and acknowledged to me that he/she executed the same. IN *%''JITNtSS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal this day ."ad year first above tten. g YM�C- A1 -- Notary Publie for the State of Montana Residing at ... - SIP My Commission Expires 1J I, ATTEST: CITY CLERK 111111111 INl111ll11lll111l11 IIII IIIilll1111 IIII III IIIIIII 1 III I1111 Document Number: 200700022051 Page: 3 EXHIBIT l MOUNTAIN SUBDIVISION ROADS & OVERLOT GRADE Completed To Date June 18, 2007 Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 101 Topsoil Removal/Replacement C.Y. 11,930 $1.68 $20,042.40 8,948 $15,031.80 102 Excavation / Subgrade Prep C.Y. 13,111 $2.08 $27,270.88 13,111 $27,270.88 103 Stabilization Fabric S.Y. 12,738 $1.30 $16,559.40 12,738 $16,559.40 104 Select Subbase C.Y. 3,185 $17.00 $54,145.00 3,185 $54,145.00 105 3/4" Crushed Gravel C.Y. 2,000 $19.29 $38,580.00 2,000 $38,580.00 106 4" Ashpaltic Cement S.Y. 10,443 $11.85 $123,749.55 7,911 $93,745.35 107 Curb & Gutter L.F. 6,463 $10.50 $67,861.50 6,463 $67,861.50 108 Valley Gutters LF 84 $30.00 $2,520.00 84 $2,520.00 109 5' x 4" Concrete Sidewalks / Gravel S.F. 32,532 $3.50 $113,862.00 32,532 $113,862.00 SUBTOTAL ITEMS 101 - 110 T $464,590.73 $429,575.93 WATER SYSTEM Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 201 12" Water Main L.F. 242 $32.50 $7,865.00 242 $7,865.00 202 8" Water Main L.F. 3,084 $21.00 $64,764.00 3,084 $64,764.00 203 12" Gate Valves & Boxes EACH 2 $2,000.00 $4,000.00 2 $4,000.00 204 8" Gate Valves & Boxes EACH 13 $1,300.00 $16,900.00 13 $16,900.00 205 12" & 8" Ductile Iron Fittings EACH 1 5 1 $600.00 1 $3,000.00 5 $35000.00 206 Fire Hydrants w/ Tee, Pipe, Aux. Valve & Box EACH 8 $4,200.00 $33,600.00 8 $33,600.00 207 Water Services EACH 69 $560.00 $38,640.00 69 $38,640.00 SUBTOTAL ITEMS 201 - 207 $168,769.00 $168,769.00 SEWER SYSTEM Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 301 8" Sewer Main L.F. 3,091 $18.75 $57,956.25 3,091 $57,956.25 302 4' Diam. Manholes w/ Ring & Cover EACH 14 $1,600.00 $22,400.00 14 $22,400.00 303 4" Sch. 40 PVC Sewer Services EACH 69 $600.00 $41,400.00 69 $41,400.00 SUBTOTAL ITEMS 301 - 303 $121,756.25 $121,756.25 DRAINAGE & MISCELLANEOUS WORK Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 401 12" PVC Storm Drain / FE L.F. 543 $23.50 $12,760.50 543 _ $12,760.50 402 12" CMP Storm Drain / FE L.F. 85 $25.00 $2,125.00 85 $2,125.00 403 Catch Basin w/ Inlet EA. 6 $1,200.00 $7,200.00 6 $7,200.00 404 Bike Path /6" base LF 410 $13.00 $5,330.00 410 $5,330.00 405 Bike Path /With 6 Bollards/12" base LF 610 $17.00 $10,370.00 610 $10,370.00 406 Seeding LS. 1.00 $1,500.00 $1,500.00 0 $0.00 407 Traffic Control LS. 1.00 $450.00 $450.00 1 $450.00 408 Mobilization LS. 1.00 $4,500.00 $4,500.00 1 $4,500.00 '910 P ak i),FU ? 4c- 1.00 $38,868.00 $38,868.00 0 $0.00 409 Construction Surveying LS. 1.00 $9,000.00 $9,000.00 1 $9,000.00 SUBTOTAL ITEMS 401 -409 $92,103.50 1 $51,735.50 IIII I IIII IIIII II I I I I I I I II I II I II III) III I IIIIi 111 l 111 II II I� I � II I II III Document Number: 200700022051 Page: 4 UTILITIES - TRENCHING, CONDUIT, VAULTS & LIGHTS Completed To Date June 18, 2007 Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 501 Common Trench LF 4,673 $ 4.00 $18,692.00 4,673 $18,692.00 502 Street Light Conduit Trench LF 155 $ 4.00 $620.00 155 $620.00 503 3 Phase Vaults EA 3 $ 1,280.00 $3,840.00 3 $3,840.00 504 Single Phase Vaults EA 12 $ 730.00 $8,760.00 12 $8,760.00 505 Light Pole Bases (FEC) EA 12 $ 550.00 $6,600.00 12 $6,600.00 506 5" Conduit LF 1,352 $ 8.50 $11,492.00 1,352 $11,492.00 507 4" Conduit LF 468 $ 5.00 $2,340.00 468 $2,340.00 508 3" Conduit LF 5,687 $ 3.00 $17,061.00 5,687 $17,061.00 509 2" Conduit LF 7,083 $ 2.75 $19,478.25 7,083 $19,478.25 510 1" Conduit LF 423 $ 2.50 $1,057.50 423 $1,057.50 511 5" Steel or Fiberglass Sweeps EA 1 $ 175.00 $175.00 1 $175.00 512 3" Steel or Fiberglass Sweeps EA 9 $ 150.00 $1,350.00 9 $1,350.00 513 3" PVC Sweeps EA 105 $ 50.00 $5,250.00 105 $5,250.00 514 2" PVC Sweeps EA 151 $ 40.00 $6,040.00 151 $6,040.00 515 Secondary Pedestals EA 36 $ 50.00 $1,800.00 36 $1,800.00 516 Bresnan 2" Roll Pipe (Bresnan Supplied) LF 2,600 $ 2.00 $5,200.00 2,600 $5,200.00 leeves for Gas Company LF 120 $ 8.00 $960.00 120 $960.00 [C4�i' leeves for Gas Conmany LF 120 $ 3.35 $402.00 120 $402.00 a a LS 1 $ 907.50 $907.50 1 $907.50 SUBTOTAL ITEMS 501-519 $112,025.25 $112,025.25 Total Construction Completed to Date $883,861.93 SERVICE COSTS, FEES, ENGINEERING & SURVEYING Item No. Description Unit Measure Estimated Quanti Unit Price Total Price QUANTITY COMPLETED TOTAL COST COMPLETED 601 Flathead Electric LUMP SUN 1 $ 105,433.00 $ 105,433.00 100% $105,433.00 602 Northwest Energy LUMP SUN 1 $ - $ - 0% $0.00 603 Centurytel LUMP SUN 1 $ $ 0% $0.00 604 En ineerin , Construction LUMP SU 1 $ 16,834.99 $ 16,834.99 96% $16,161.59 SUBTOTAL ITEMS 601 - 604 1 $ 122,267.99 $121,594.59 TOTAL PROJECT BUDGET TOTAL ESTIMATED COST OF CONSTRUCTION AMOUNT COMPLETED PRIOR TO BONDING AMOUNT OF REMAINING WORK PRIOR TO BONDING AMOUNT OF BOND (125% OF REMAINING WORK) AMOUNT OF WORK COMPLETED TO DATE PERCENTAGE OF WORK COMPLETED TO DATE AMOUNT OF WORK REMAINING ORIGINAL BOND AMOUNT AMOUNT OF BOND TO BE RETAINED (125% OF REMAINING WORK) BOND AMOUNT TO BE RELEASED AMOUNT PREVIOUSLY RELEASED AMOUNT TO BE RELEASED AT THIS TIME $1,081,512.72 $ 1,081,512.72 $ 1,005,456.62 $ 76,056.20 $ 95,070.25 1,005,456.52 93% 76,056.20 $ 95,070.25 $ 95,070.25 $0.00 $0.00 $0.00 AS PROJECT ENGINEER FOR THE MOUNTAIN VISTA SUBDIVISION PHASE II, 1 CERTIFY THAT THE WORK LISTED HEREIN IS CORRECT. IN ADDITION, I CERTIFY THAT THE ASSOCIATED COSTS ARE REASONABLY ACCURATE ESTIMATES OF THE RESPECTIVE COSTS OF THE WORK. THE VALUE OF CONSTRUCTION AND OTHER WORK COMPLETED TO DATE IS ESTIMATED TO BE: $ 1,005,456.52 THE TOTAL VALUE OF REMAINING WORK, SERVICES AND FEES IS ESTIMATED TO BE: $ 76,056.20 SECURITY HELD AT 125% OF THE REMAINING COSTS SHOULD BE IN THE AMOUNT OF: $ 95,070.25 THEREFORE, IT IS IN ACCORDANCE WITH THE SUBDIVISION IMPROVEMENTS AGREEMENT TO REDUCE THE TOTAL AMOUNT OF THE SECURITY HELD BY: $0.00 BRETT WALCHECK, P.E. *ALL IMPROVEMENTS SHALL BE COMPLETED BY: II II I II I II � I I I III I III III II II I III I III I III II II I I II I I I II Document Number: 200700022051 Page: 5 12/29/2007 $1,005,456.52 City of Kalispell Public Works Department Post Office Box 1997, Kalispell, Montana 59903-1997 - Telephone (406)758-7720, Fax (406)758-7831 MEMORANDUM February 8, 2008 To: Deb Deist, City Treasurer From: /A/b_,"'� 4ark Crowley, Construction Manager G Re: Mountain Vista subdivision The engineer for the referenced project has requested a release of the SIA (attached). The it ' `' ,%, Public Works Department concurs that the items have been constructed in accordance with the approved plans and specifications and the expired letter of credit should be released. Cc: 48 North PC 151 Business Center Loop, Suite A Kalispell, Montana 59901 Planning Department 151 Business Center Loop, Suite A ® Kalispell, MT 59901 ® P) 406.756.4848 0 F) 406.756.4849 February 7, 2008 Attn: Frank Castle City of Kalispell Public Works Department 312 1st Ave. East Kalispell, MT. 59903 RE: Mountain Vista Phase I w- r.,!�i As Engineer of record for Mountain Vista Subdivision Phase I, I herby certify that the construction of the items that are shown in the attached Certification of Work To Be Completed have been completed to the best of my knowledge. The percentage of work complete to date for Mountain Vista Phase I is at 100%. The latest bond was at 99%, equating to a 1 % reduction or bond release amount of $26,019.77 At this time we are requesting a letter of approval from the City of Kalispell stating that you are in agreement with improvements installed to date. Representatives of The City of Kalispell, 48 North P.C. and Goose Bay Construction preformed a final walk- through on November 25, 2006 and a punch list was created. The punch list was completed on or abut 10/16/07. Please except this letter as final acceptance of improvements installed per the approved plans dated June 14, 2005. If you have any questions or require additional information please feel free to give me a call (406-756-4848). Sincerely, Brett Walcheck, P.E. 48 North, P.C. Enclosures: EXHIBIT a CERTIFICATION OF WORK TO BE COMPLETEN 1l l SUBDIVISION ROADS & OVERLOT GRADE Completed To Date February 6, 2008 Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 101 Topsoil Removal/Replacement C.Y. 17,000 $1.68 $28,560.00 17,000 $28,560.00 102 Excavation / Subgrade Prep C.Y. 94,698 $2.08 $196,971.84 94,698 $196,971.84 103 Stabilization Fabric S.Y. 10,449 $1.10 $11,493.90 10,449 $11,493.90 104 Select Subbase C.Y. 2,821 $16.94 $47,787.74 2,821 $47,787.74 105 3/4" Crushed Gravel C.Y. 1,622 $19.12 $31,012.64 1,622 $31,012.64 106 4" Ash altic Cement S.Y. 9,858 $8.75 $86,257.50 9,858 $86,267.50 107 Curb & Gutter L.F. 6,144 $8.05 $49,469.20 6,144 $49,459.20 108 Valley Gutters LF 126 $25.88 $3,260.88 126 $3,260.88 109 5' x 4" Concrete Sidewalks / Gravel S.F. 30,560 $3.49 $106,654.40 30,560 $106,654.40 110 5' x 6" x 20' Concrete Sidewalks / Gravel S.F. 160 $4.64 $742.40 160 1 $742.40 SUBTOTAL ITEMS 101 - 110 1 $562,200.50 $562.200.50 WATER SYSTEM Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 201 12" Water Main L.F. 232 $28.21 $6,644.72 232 $6,544.72 202 8" Water Main L.F. 2,996 $19.86 $59,500.56 2,996 $59,500.56 203 12" Gate Valves & Boxes EACH 2 $1,917.30 $3,834.60 2 $3,834.60 204 8" Gate Valves & Boxes EACH 15 $1,190.20 $17,853.00 15 $17,853.00 205 12" & 8" Ductile Iron Fittings EACH 12 $483.77 $5,805.24 12 $5,805.24 206 Fire Hydrants w/ Tee, Pipe, Aux. Valve & Box EACH 8 $3,416.40 $27,331.20 8 $27,331.20 207 Water Services EACH 59 $614.38 $36,248.42 59 $36,248.42 SUBTOTAL ITEMS 201 - 207 $157,117.74 $157,117.74 SEWER SYSTEM Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Com leted Total Cost Completed 301 8" Sewer Main L.F. 1,884 $18.01 $33,930.84 1,884 $33,930.84 302 4' Diam. Manholes w/ Ring & Cover EACH 13 $1,649.49 $21,443.37 13 $21,443.37 303 4" Sch. 40 PVC Sewer Services EACH 39 $623.67 $24,323.13 39 $24,323.13 304 2" HDPE Force Main L.F. 820 $15.00 $12,300.00 820 $12,300.00 305 2" HDPE Force Main Cleanouts EACH 2 $539.06 $1,078.12 2 $1,078.12 306 E1 Sewer Service Assembly EACH 18 $802.20 1$14,439.60 18 $14,439.60 SUBTOTAL ITEMS 301 - 306 1 $107,51.,; n $107.515.06 DRAINAGE & MISCELLANEOUS WORK Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 401 8" PVC Storm Drain / FE L.F. 257 $17.53 $4,505.21 257 $4,505.21 402 12" PVC Storm Drain / FE L.F. 780 $22.08 $17,222.40 780 $17,222.40 403 12" RCP Storm Drain/FE L.F. 60 $46.08 $2,764.80 60 $2,764.80 404 18" RCP Storm Drain / FE L.F. 205 $50.00 $10,250.00 205 $10,250.00 405 24" CMP Storm Drain / FE L.F. 70 $29.83 $2,088.1011 70 $2,088.10 406 Catch Basin w/ inlet EA. 11 $644.30 $7,087.30 11 11 $7,087.30 407 Precast Drywall Structures EA. 2 $1,113.25 $2,226.50 1 2 $2,226.50 408 Pond Outlet Structure EA. 1 $1,445.00 $1,445.0011 1.0 $1,445.00 409 Riprap C.Y. 70 $30.00 $2,100.00 11 70 $2,100.00 410 Silt Fence LF 2,7791 $3.02 $8,392.5811 2,779 $8,392.58 411 Tracking Pad LS. 1 $1,335.00 $1,335.00 1 $1,335.00 412 Bike Path /6" base LF 484 $9.89 $4,786.76 484 $4,786.76 413 Bike Path [With 6 Bollards/12" base LF 484 $13.34 $6,456.56 484 $6,456.56 414 Mail Boxes Bases W1 Gravel EA. 4 $1,200.00 $4,800.00 4 $4,800.00 415 CBU Mailboxes EA. 11 $1,225.00 $13,475.00 11 $13,475.00 416 OPL Mailboxes EA. 4 $1,225.00 $4,900.00 4 $4,900.00 417 iSeeding LS. 1.00 $2,500.00 $2,500.00 1 $2,500.00 418 Traffic Control LS. 1.00 $750.00 $750.00 100% $750.00 419 Mobilization LS. 1.00 $7,500.00 $7,500.001 100% $7,500.00 420 Construction Surveying LS. 1.00 $27,000.00 $27,000.00 100% $27,000.00 421 Street Si na a LS. 1.00 $1,512.50 $1,512.50 100% $1,512.50 SUBTOTAL ITEMS 401 - 421 $133,097.71 $133.097.71 UTILITIES - TRENCHING, CONDUIT, VAULTS & LIGHTS Completed To Date February 6, 2008 Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 501 Common Trench LF 5,360 $ 5.25 $28,140.00 5,360 $28,140.00 502 Street Light Conduit Trench LF 110 $ 5.25 $577.50 110 $577.50 503 3 Phase Vaults EA 5 $ 1,100.00 $5,500.00 5 $5,500.00 504 Sin le Phase Vaults EA 11 $ 726.25 $7,988.75 11 $7,988.75 505 Li ht Pole Bases (FEC) EA 10 $ 500.00 $5,000.00 10 $5,000.00 506 5" Conduit LF 2,151 $ 8.67 $18,649.17 2,151 $18,649.17 507 4" Conduit LF 300 $ 3.34 $1,002.00 300 $1,002.00 508 3" Conduit LF 8 757 $ 2.79 $24,432.03 8,757 $24,432.03 509 2" Conduit LF 8 400 $ 2.25 $18,900.00 8,400 $18,900.00 510 1" Conduit LF 623 $ 3.17 $1,974.91 623 $1,974.91 511 5" Steel or Fiberglass Sweeps EA 7 $ 340.00 $2,380.00 7 $2,380.00 512 3" Steel or Fiberglass Sweeps EA 8 $ 148.75 $1,190.00 8 $1,190.00 513 4" PVC Sweeps EA 1 $ 50.00 $50.00 1 $50.00 514 3" PVC Sweeps EA 120 $ 50.00 $6,000.00 120 $6,000.00 515 2" PVC Sweeps EA 226 $ 38.00 $8,588.00 226 $8,588.00 516 Secondary Pedestals EA 34 $ 50.00 $1,700.00 34 $1,700.00 517 Bresnan 2" Roll Pie Bresnan Supplied) LF 2,000 $ 2.00 $4,000.00 2,000 $4,000.00 518 6" Sleeves for Gas Company LF 120 $ 8.00 $960.00 120 $960.00 519 4" Sleeves for Gas Conmany LF 120 $ 3.34 $400.80 120 $400.80 SUBTOTAL REVISED UTILITIES SCHEDULE $137,433.16 $137,433.16 Total Construction Completed to Date $1,097,364.17 SERVICE COSTS, FEES, ENGINEERING & SURVEYING Item No. Description Unit Measure Estimated Quantity Unit Price Total Price QUANTITY COMPLETED TOTAL COST COMPLETED 601 Flathead Electric LUMP SUN 1 $ 105,841.00 $ 105,841.00 100% $105,841.00 602 Northwest Energy LUMP SUIV 1 $ 32,000.00 $ 32,000.00 100% $32,000.00 603 Centurytel LUMP SUN 1 $ 54,266.80 $ 54 266.80 100% $64 266.80 604 Engineering,Design LUMPSUM 1 $ 112,233.16 $ 112 233.16 100% $112,233.16 605 En ineerin , Construction LUMP SUN 1 $ 16 834.99 $ 16,834.99 100% $16 834.99 606 Surveying,Legal LUMP SUN 1 $ $ $0.00 SUBTOTAL ITEMS 601 - 606 $ 321,175.95 $321,175.95 TOTAL PROJECT BUDGET TOTAL ESTIMATED COST OF CONSTRUCTION AMOUNT COMPLETED PRIOR TO BONDING AMOUNT OF REMAINING WORK PRIOR TO BONDING AMOUNT OF BOND (125% OF REMAINING WORK) AMOUNT OF WORK COMPLETED TO DATE PERCENTAGE OF WORK COMPLETED TO DATE AMOUNT OF WORK REMAINING ORIGINAL BOND AMOUNT AMOUNT OF BOND TO BE RETAINED (125% OF REMAINING WORK) BOND AMOUNT TO BE RELEASED AMOUNT PREVIOUSLY RELEASED AMOUNT TO BE RELEASED AT THIS TIME $1,418,540.12 $ 1,418,540.12 $ 1,418,540.12 1,418,540.12 100% 435,710.36 $435,710.36 r $409,690.59 $26,019.77 ' AS PROJECT ENGINEER FOR THE MOUNTAIN VISTA SUBDIVISION PHASE I, 1 CERTIFY THAT THE WORK LISTED HEREIN IS CORRECT. IN ADDITION, 1 CERTIFY THAT THE ASSOCIATED COSTS ARE REASONABLY ACCURATE ESTIMATES OF THE RESPECTIVE COSTS OF THE WORK. THE VALUE OF CONSTRUCTION AND OTHER WORK COMPLETED TO DATE IS ESTIMATED TO BE: $ THE TOTAL VALUE OF REMAINING WORK, SERVICES AND FEES IS ESTIMATED TO BE: $ SECURITY HELD AT 125% OF THE REMAINING COSTS SHOULD BE IN THE AMOUNT OF: $ THEREFORE, IT IS IN ACCORDANCE WITH THE SUBDIVISION IMPROVEMENTS AGREEMENT TO REDUCE THE TOTAL AMOUNT OF THE SECURITY HELD BY: $26,019.77 $1,418,540.12 1,418,54 .1 LR t x \ - -- ° BRETT WALCHECK, P.E. *ALL IMPROVEMENTS HAVE BEEN COMPLETED: s City p p of Kalispell Public Works Department Post Office Boa 1997, Kalispell, Montana 59903-1997 - Telephone (406)758-7720, Fax (406)758-7831 �uv MEMORANDUM 6 ]anuaryX, 2007 To: Deb Deist, Treasurer jl§� From: Frank Castles, P.E., Deputy Public Works Director/Assistant City Engineer RE: Mountain Vista Subdivision, Phase 1 Attached is a copy of the request by the developer to reduce the amount of the subdivision improvement financial security to $26,019.77. A recent examination of the referenced project was performed recently. We concur that the items remaining to be constructed are as they appear in EXHIBIT B Ipp\QuI r Please reduce the amount of City held financial security to $26,019.77. Cc w/o attachments: 48 North, P.0 151 Business Center Loop, Suite A Kalispell, Montana 59901 VALLEY BAINKOF KALISPELL January 31, 2007 City of Kalispell 312 1st. Avenue East Kalispell, MT 59901 Gentlemen: Touchstone, LLC 1289 N. Meridian Rd. Kalispell, MT 59901 Valley Bank of Kalispell has established an irrevocable letter of credit in your favor or at the request of and for the account of Touchstone LLC, to the extent of Twenty -Six Thousand Nineteen Hundred Dollars & 77/100**($26,019.77) for Mountain Vista Subdivision. Said funds are available by presentation of your sight drafts, which clearly specify the number of this credit and are drawn in favor of the secured party cited above. We will honor draft(s) drawn in conformity with the conditions of this credit if presented at our office on or before January 31, 2008. Sincerely, Valley Bank of Kalispell llrl"x Gary M,,f4adison Vice President GMM:lh P.O. Box 48 , KALISPELL, MT 59903-0048 406-752-7123 , FAX 406-752-7320 , WWW.VALLEYBANKMT.COM MEMBER FDIC VALLEY BANK OF KALISPELL May 25, 2006 M 4A.:JATX029" 4 4 n d 4zlehlel.4 4 0 v 2• City of Kalispell 312 1st. Avenue East Kalispell, MT 59901 .MiIt- Valley Bank of Kalispell has established an irrevocable letter of credit in your favor or at the request of and for the account of Touchstone LLC, to the extent of Four Hundred Thirty Five Thousand Seven Hundred Ten Dollars & 38/100**($435,710.38) for Mountain Vista Subdivision. Said funds are available by presentation of your sight drafts, which clearly specify the number of this credit and are drawn in favor of the secured party cited above. We will honor draft(s) drawn in conformity with the conditions of this credit if presented at our office on or before January 31, 2007. Sincerely, Valley Bank of Kalispell Gary MAadison Vice President yal r Lk VW P.O. Box 48 - KALISPELL, MT 59903-0048 406-752-7123 - FAX 406-752-7320 , WWW.VALLEYBANKMT.COM MEMBER FDIC Y8vom DB VALLEY BANK 40&752-7123 112242 KP.O. Bm 46 EMITTER - Ke W O, Mr 59903-0048 TOUCHSTONE , TLC 93-229/929 DaTE05-26-06 'AY TO THE ***KALISPELL PUBLIC WORKS******************$1771.00***************************** ORDER OF l } ti� VALLEY BANK OF KALISPELL CASHIER'S. CHECK BY' u' L �.a 2ttlun 290 i 29?1. QO 2-06 u■ R'� 1�y of Ka"Sp" f I Parks and Recreation May 15, 2006 35 1 s Ave East — P O Box 1997 — Kalispell MT 59903-1997 Phone: (406) 758-7718 Fax: (406) 758-7719 Email: parknreca7kalispell.com Marquardt & Marquardt Surveying Inc. 285 Is'Ave E.N. Kalispell, MT 59901 Re: Mountain Vista Estates Phase I Landscaping This letter is to serve as approval of the landscaping agreement submitted and dated May 8, 2006 for Mountain Vista Estates Phase 1. This . agreement stipulates that Touchstone LLC (the developers) will pay the city $35,903.16 to complete the planting of 125 trees and 30,759.42 square feet of boulevard and seeding. In addition boulevard prep and soil placement to meet curb height are the responsibility of the. developers, Touchstone LLC.. The city will work with both the developer and homeowners to coordinate plantings and boulevard work when the majority of home construction is finished and people are living in the subdivision. It has been enjoyable working with you; and we appreciate your thoroughness and attention to detail. If you have any concerns or questions please give me a call. Sincerely, c Micha I Baker, Director Cc: Tom Jentz, Planning Department jv Oa/36/06 14:56:12 BATCH: 17531 CITY OF KALISPELL Page 1 gbl90-pg PERIOD: 08/30/06 GENERAL JOURNAL TRS ACCOUNT NUMBER . REFER DESCRIPTION DEBITS CREDITS OTHER 2210-000-010100-000 CASH -PARKS IN LIEU OF 2210-000-010100-000 28d-2007 MTN VISTA ESTATES, PH 1/TREES .00 35,903.16- .00 2210-000-346080-000 PARKS DEVELOPER PAYMENTS 2210-000-346080-000 28d-2007 MV MTN VISTA EST.PH1 TO 2600 35,903.16 .00 .00 FUND TOTALS 35,903.16 35,903.16- .00 2600-000-010100-000 CASH -URBAN FORESTRY 2600-000-010100-000 28d-2007 MTN VISTA ESTATES, PH 1 35,903.16 .00 .00 2600-000-346080-000 DEVELOPER'S PAYMENT/TREES 2600-000-346080-000 28d-2007 MTN VISTA ESTATES, PH 1 .00 35,903.16- .00 ------------- ------------- ------------- FUND TOTALS 35,903.16 35,903.16- .00 ENTRIES DE: 2 CR: 2 GRAND TOTALS 71,806.32 71,806.32- .00 Return R' to: Theresa White Kalispell City Clerk - 4 5-��-- El P.O. Box 1997 Ai. LA R0a),N. 0N1 TIAE� AM CON `I N MO,,JAN(I Kalispell, MT 59903 &1 .1a0& f I 10 f APPENDIX SUBDIVISION''t AGREEMENT THIS AGREEMENT, made and entered into this 5 day of .Tune , 20 06, by and between the CITY COUNCIL, CITY OF KALISPELL, MONTANA, Parry of the First Part and hereinafter referred to as the CITY, and Touchstone LLC. (Name of Developer) a LIMITED LIABILITY PARTNERSHIP (Individual, Company or Corporation) located at 1289 N. MERIDIAN RD, KALISPELL, MT. 59901 , (Street Address/P. O. Box) (City, County, State, Zip) Party of the Second Part and hereinafter referred to as DEVELOPER. WITNESSETH: owner and developer of a new subdivision known as (Name of Subdivision) located at PARCELS A&B OF CERTIFICATE OF SURVEY, LOCATED IN SECTION 2, TOWNSHIP 28 NORTH, RANGE 22 WEST, P.M.M., FLATEEAD COUNTY, ONTANA. , (Location of Subdivision) and, WHEREAS, the City has conditioned it's approval of the final plat of MOUNTAIN VISTA PHASE 1 , upon the conditions as set forth (Name of Subdivision) -57-47- 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 A" • and WHEREAS, the estimated total cost of construction of said improvements is the sum of $ 348,568.29 NOW THEREFORE, in consideration of the approval of the final plat of said Subdivision by the City, the Developer hereby agrees as follows: Mountain Vista Subdivision, Phase 1 Subdivision Improvement Agreement Page 1 of 3 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 $ 435 710.36 . 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 $ 435 710.36 , the estimated cost of completing the required improvements in MOUNTAIN VISTA PHASE 1 (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 December 2, 20 06 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 one (1) year 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. Mountain Vista Subdivision, Phase 1 Subdivision Improvement Agreement Page 2 of 3 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. MOUNTAIN VISTA / TOUCHSTONE LLC , (Name of Subdivision/Developer/Firm) by -, , (Title) STATE OF MONTANA COUNTY OF <'ie- On this day of , 20 do, before me, a Notary Public for the State of Montana, personally appeared known to me to be the `t �� -, of , 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. o Public for the State o ontana = 1 d c at Kal:,;el', Idonk Resi m at Z n My Commission Expires ATTEST: CITY CLERK Mountain Vista Subdivision, Phase 1 Subdivision Improvement Agreement Page 3 of 3 EXHIBIT "A" CERTIFICATION OF WORK TO BE COMPETED MOUNTAIN VISTA PHASE I SUBDIVISION ROADS & OVERLOT GRADE Completed To Date May 26, 2006 Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 101 Topsoil Removal/Replacement C.Y. 17,000 $1.68 $28,560.00 17,000 $28,560.00 102 Excavation / Subgrade Prep C.Y. 94,698 $2.08 $196,971.84 94,698 $196,972.05 103 Stabilization Fabric S.Y. 10,449 $1.10 $11,493.90 10,449 $11,493.90 104 Select Subbase C.Y. 2,821 $16.94 $47,787.74 2,821 $47,787.74 105 3/4" Crushed Gravel C.Y. 1,622 $19.12 $31,012.64 1,622 $31,012.64 106 4" Ashpaltic Cement S.Y. 9,858 $8.75 $86,257.50 0 $0.00 107 Curb & Gutter L.F. 6,144 $8.05 $49,459.20 6,144 $49,459.20 108 Valley Gutters LF 126 $25.88 $3,260.88 0 $0.00 109 5' x 4" Concrete Sidewalks / Gravel S.F. 24,920 $3.49 $86,970.80 0 $0.00 110 5' x 6" x 20' Concrete Sidewalks / Gravel S.F. 5,800 $4.64 $26,912.00 0 $0.00 SUBTOTAL ITEMS 101 - 110 $568,686.50 $365,285.53 WATER SYSTEM Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 201 12" Water Main L.F. 232 $28.21 $6,644.72 20 $564.20 202 8" Water Main L.F. 2,996 $19.86 $59,500.56 2,773 $55,071.78 203 12" Gate Valves & Boxes EACH 2 $1,917.30 $3,834.60 1 $1,917.30 204 8" Gate Valves & Boxes EACH 15 $1,190.20 $17,863.00 14 $16,662.80 205 12' & 8" Ductile Iron Fittings EACH 12 $483.77 $5,805.24 13 $6,289.01 206 Fire Hydrants w/ Tee, Pipe, Aux. Valve & Box EACH 8 $3,416.40 $27,331.20 7 $23,914.80 207 Water Services EACH 59 $614.38 $36,248.42 57 $35,019.66 SUBTOTAL ITEMS 201 - 207 $157,117.74 $139,439.55 SEWER SYSTEM Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 301 8" Sewer Main L.F. 1,884 $18.01 $33,930.84 1,786 $32,165.86 302 4' Diam. Manholes w/ Ring & Cover EACH 13 $1,649.49 $21,443.37 12 $19,793.88 303 4" Sch. 40 PVC Sewer Services EACH 39 $623.67 $24,323.13 38 $23,699.46 304 2" HDPE Force Main L.F. 820 $15.00 $12,300.00 820 $12,300.00 305 2" HDPE Force Main Cleanouts EACH 2 $539.06 $1,078.12 2 $1,078.12 306 E1 Sewer Service Assembl EACH 18 $802.20 $14,439.60 18 $14,439.60 SUBTOTAL ITEMS 301 - 306 $107,515.06 1 $103,476.92 DRAINAGE & MISCELLANEOUS WORK Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 401 8" PVC Storm Drain / FE L.F. 257 $17.63 $4,605.21 270 $4,733.10 402 12" PVC Storm Drain / FE L.F. 780 $22.08 $17,222.40 514 $11,349.12 403 12" CMP Storm Drain / FE L.F. 0 $19.52 $0.00 0 $0.00 404 12" RCP Storm Drain/FE L.F. 60 $46.08 $2,764.80 0 $0.00 405 18" RCP Storm Drain / FE L.F. 205 $50.00 $10,250.00 0 $0.00 406 24" CMP Storm Drain / FE L.F. 70 $29.83 $2,088.10 0 $0.00 407 Catch Basin w/ Inlet EA. 11 $644.30 $7,087.30 11 $7,087.30 408 Precast Drywell Structures EA. 2 $1,113.26 $2,226.50 2 $2,226.50 409 Pond Outlet Structure EA. 1 $1,445.00 $1,445.00 0 $0.00 410 Riprap C.Y. 70 $30.00 $2,100.00 0 $0.00 411 Silt Fence LF 2,779 $3.02 $8,392.58 2,779 $8,392.58 412 Tracking Pad LS. 1 $1,335.00 $1,335.00 1 $1,335.00 413 Bike Path 16" base LF 484 $9.89 $4,786.76 0 $0.00 414 Bike Path /With 6 Bollards/12" base LF 484 $13.34 $6,456.56 0 $0.00 415 Mail Boxes Bases W/ Gravel EA. 4 $1,200.00 $4,800.00 0 $0.00 416 CBU Mailboxes EA. 11 $1,225.00 $13,475.00 0 $0.00 417 OPL Mailboxes EA. 4 $1,225.00 $4,900.00 0 $0.00 418 Seeding LS. 1.00 $2,500.00 $2,500.00 0 $0.00 420 Traffic Control LS. 1.00 $750.00 $750.00 50% $375.00 421 Mobilization LS. 1.00 $7,500.00 $7,500.00 100% $7,500.00 422 Construction Surveying LS. 1.00 $27,000.00 $27,000.00 85% $22,950.00 423 Street Si na a LS. 1.00 $1,512.50 $1,512.50 85% $1,285.63 SUBTOTAL ITEMS 401 - 423 $133,097.71 $67,234.23 UTILITIES - TRENCHING, CONDUIT, VAULTS & LIGHTS Completed To Date May 26, 2006 Item No. Description Unit Measure Estimated Quantity Unit Price Total Price Quantity Completed Total Cost Completed 501 Common Trench LF 5,360 $ 5.25 $28,140.00 6,279 $27,714.75 502 Street Light Conduit Trench LF 110 $ 5.25 $577.50 310 $1,627.50 503 3 Phase Vaults EA 5 $ 1,100.00 $5,500.00 5 $5,500.00 504 Single Phase Vaults EA 11 $ 726.25 $7,988.75 11 $7,988.75 505 Light Pole Bases (FEC) EA 10 $ 500.00 $5,000.00 10 $5,000.00 506 5" Conduit LF 2 161 $ 8.67 $18,649.17 2,123 $18,406.41 507 4" Conduit LF 300 $ 3.34 $1,002.00 220 $734.80 508 3" Conduit LF 8,757 $ 2.79 $24,432.03 7,860 $21,929.40 509 2" Conduit LF 8,400 $ 2.25 $18,900.00 7,170 $16,132.50 510 1" Conduit LF 623 $ 3.17 $1,974.91 370 $1,172.90 511 5" Steel or Fiberglass Sweeps EA 7 $ 340.00 $2,380.00 6 $2,040.00 512 3" Steel or Fiberglass Sweeps EA 8 $ 148.76 $1,190.00 11 $1,636.25 513 4" PVC Sweeps EA 1 $ 50.00 $50.00 2 $100.00 514 3" PVC Sweeps EA 120 $ 50.00 $6,000.00 107 $5,350.00 615 2" PVC Sweeps EA 226 $ 38.00 $8,588.00 228 $8,664.00 616 Secondary Pedestals EA 34 $ 50.00 $1,700.00 31 $1,550.00 517 Bresnan 2" Roll Pie Bresnan Supplied) LF 2000 $ 2.00 $4,000.00 1,723 $3,446.00 518 6" Sleeves for Gas Company LF 120 $ 8.00 $960.00 79 $632.00 519 4" Sleeves for Gas Conmany LF 120 $ 3.34 $400.80 356 $1,189.04 SUBTOTAL REVISED UTILITIES SCHEDULE1 $130,814.30 Total Construction Completed to Date $806,250.52 SERVICE COSTS, FEES, ENGINEERING & SURVEYING Item No. Description Unit Measure Estimated Quanti Unit Price Total Price7 QUANTITY COMPLETED TOTAL COST COMPLETED 601 Flathead Electric SUN 1 $ 94 154.00 $ 105 841.00 100% $94154.00 602 -LUMP Northwest Energy LUMP SUN 1 $ 32 000.00 $ 32 000.00 100% $32 000.00 603 Genturytel LUMPSUN 1 $ 54 266.80 $ 54 266.80 100% $54 266.80 604 Engineering, Design]LUMP SUN 1 $ 112 233.16 $ 112 233.16 100% $112 233.16 605 Engineering,Construction UMP SU 1 $ 56 116.63 $ 56 116.63 30°/ $16 834.99 606 Surveying,Legal UMP SU 1 $ $ $0.00 SUBTOTAL ITEMS 601 - 608 1 1 $ 360,457.59 $309,488.95 TOTAL PROJECT BUDGET TOTAL ESTIMATED COST OF CONSTRUCTION AMOUNT COMPLETED PRIOR TO BONDING AMOUNT OF REMAINING WORK PRIOR TO BONDING AMOUNT OF BOND (126% OF REMAINING WORK) AMOUNT OF WORK COMPLETED TO DATE PERCENTAGE OF WORK COMPLETED TO DATE AMOUNT OF WORK REMAINING ORIGINAL BOND AMOUNT AMOUNT OF BOND TO BE RETAINED (125% OF REMAINING WORK) BOND AMOUNT TO BE RELEASED AMOUNT PREVIOUSLY RELEASED AMOUNT TO BE RELEASED AT THIS TIME $1,464,307.76 $1,115,739.47 $ 1,464,307.76 $ 1,115,739.47 $ 348,568.29 $ 435,710.36 1,115,739.47 76 % 348,568.29 $ 435,710.36 $ 436,710.36 $0.00 $0.00 ��$0.00 AS PROJECT ENGINEER FOR THE MOUNTAIN VISTA SUBDIVISION PHASE 1, 1 CERTIFY THAT THE WORK LISTED HEREIN IS CORRECT. IN ADDITION, 1 CERTIFY THAT THE ASSOCIATED COSTS ARE REASONABLY ACCURATE ESTIMATES OF THE RESPECTIVE COSTS OF THE WORK. THE VALUE OF CONSTRUCTION AND OTHER WORK COMPLETED TO DATE IS ESTIMATED TO BE: $ 1,115,739.47 THE TOTAL VALUE OF REMAINING WORK, SERVICES AND FEES IS ESTIMATED TO BE: $ 348,568.29 SECURITY HELD AT 125% OF THE REMAINING COSTS SHOULD BE IN THE AMOUNT OF: $ 436,710.36 THEREFORE, IT IS IN ACCORDANCE WITH THE SUBDIVISION IMPROVEMENTS AGREEMENT TO REDUCE THE TOTAL AMOUNT OF THE SECURITY HELD BY: $0.00 BRETT WALCHECK, P.E. ---',,*ALL IMPROVEMENTS SHALL BE COMPLETED BY: 12/212006 CONSENT DATE 6/1/2006 BANK BOND DATEBRETT W. CK 1/31/2007 1 6 iW W) No. 14872FPE1jjj \ �v �9 EXHIBIT "A" CERTIFICATION OF WORK TO BE COMPLETED MOUNTAIN VISTA PHASE I SUBDIVISION ROADS & OVERLOT GRADE Completed To Date May 26, 2006 Item Unit Estimated Quantity Total Cost No. Description Measure t Quantity Unit Price Total Price Completed Completed 107 Curb & Gutter not completed by the Catch Basins L.F. 1761 $8.051 $1,416.80 0 $0.00 TOTAL ESTIMATED COST OF CONSTRUCTION $1,416.80 AMOUNT COMPLETED PRIOR TO BONDING $ AMOUNT OF REMAINING WORK $ 1,416.80 AMOUNT OF CASHIERS CHECK (125% OF REMAINING WORK) $ 1,771.00 AS PROJECT ENGINEER FOR THE MOUNTAIN VISTA SUBDIVISION PHASE I, 1 CERTIFY THAT THE WORK LISTED HEREIN IS CORRECT. IN ADDITION, 1 CERTIFY THAT THE ASSOCIATED COSTS ARE REASONABLY ACCURATE ESTIMATES OF THE RESPECTIVE COSTS OF THE WORK. THE VALUE OF CONSTRUCTION AND OTHER WORK COMPLETED TO DATE IS ESTIMATED TO BE: $ THE TOTAL VALUE OF REMAINING WORK, SERVICES AND FEES IS ESTIMATED TO BE: $1,416.80 BRETT WALCHECK, P.E. *ALL IMPROVEMENTS SHALL BE COMPLETED BY 12/2/2006 CONSENT DATE 61512016 BANK BOND DATE 1¢3V2 r Frank, Phase II When those two gentlemen were in here (Phil Newharth), they said the WFCU Letter of Credit in the amount of $24,088.88 was for Phase II for which there is not yet an SIA agreement. I just noticed that this is the letter of credit that expires today. Is this a problem or will it all be changed when the SIA agreement for Phase II is drawn up? Phase I The new letter of credit they brought in today ($26,019.77) was for Phase I and replaced the original letter of credit (435,710.38) and the original cashier's check ($1,771.00). Oh boy, I can't seem to leave you alone. Sorry to keep bothering you. 48N1017H RO Box 651 • Whitefish, Montana 59937 • (P) 406-862-4815 • (F) 406-862-4876 P. C. hzeer*�gAiemlces May 26, 2006 Attn: Frank Castle City of Kalispell Public Works Department 312 1" Ave. East Kalispell, MT. 59903 RE: Additional Curb Dear Frank: In summary of our phone conservation on 5/25/06, the following is to be implemented for the Mountain Vista Subdivision. The curbing is to be relocated, as shown on the attached exhibits, to ensure complete access and functionality of the catch basins. A cashiers check or approved funding will be submitted to the Kalispell Public Works Department to cover 125% of all curbing yet to be installed. This funding will be an addition to the previous submitted SIA and will not be released until the Kalispell Public Works has accepted the revised improvements. As Engineer of record for Mountain Vista Subdivision, Phase 1, I herby certify that the construction cost of the items that are shown in the attached exhibit "A" are correct to the best of my knowledge. Estimates prepared by this office for the remaining construction, total $1,416.80 for Mountain Vista Subdivision, Phase 1. Security held at 125% of the remaining construction total is $1,771.00. If you have any questions or require additional information please feel free to give me a call (406-862-4815). Sincerely, Brett Walcheck, P.E. 48 North, P.C. Enclosures: �- City of Kalispell Public Works Department Post Office Box 1997, Kalispell, Montana 59903-1997 - Telephone (406)758-7720, Fax (406)758-7831 MEMORANDUM May 31, 2006 To: Deb Deist, Treasurer From: Frank Castles, P.E., Assistant City Engineer Oiz-,34- RE: Mountain Vista Subdivision, Phase I Attached is a copy of the request by the developer to increase the amount of Me - subdivision improvement financial security by $1,771.00. We concur that the items (curb and gutter at the catch basins) to be constructed are as they appear in EXHIBIT B attached to a letter dated May 26, 2006. The developer is providing a Cashier's Check in the amount of $),771.00 Page 1 of 1 From: Frank Castles [fcastles@kalispell.com] Sent: Wednesday, June 07, 2006 11:53 AM To: Deb Deist Subject: Re: Mountain Vista Subdivision, Phase I Deb, The $24,088.68 amount is for the original SIA (the amount coincides with Exhibit'B' plus 25%). The $1,771.00 is an additional amount to the SIA to cover the cost of curb and gutter realignment(s) at catch basins. If you need more info, let me know. Frank ----- Original Message ----- From: Deb Deist To: Frank Castles Sent: Wednesday, June 07, 2006 12:10 PM Subject: Mountain Vista Subdivision, Phase I Hi Frank, I have an Irrevocable Standby Letter of Credit from Whitefish Credit Union in the amount of $24,088.68. What is that for? The amount on the SIA is the amount of the letter of credit from Valley Bank. Then there is a cashier's check for the 1,771.00 increase. But I find no reference to the WCU amount. 6/7/2006