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Deist/Expired Letter of Credit - TreesCity ®f Kalispell Post Office Box 1997 - Kalispell, Montana 59903-1997 Telephone (406) 758-7000 Fax - (406) 758-7758 December 26, 2014 First Interstate Bank Marj DeZort Tammy Grilley PO Box 7130 Kalispell, MT 59904-0130 Re: Expired Irrevocable Standby Letter of Credit No. 2309600385 Project: Lone Pine Trails Dear Ms. DeZort and Ms.Grilley, I am returning the above mentioned letter of credit per Chad Fincher of the Parks Department as the trees are being planted as the subdivision lots are sold in an effort to ensure the trees are cared for. While the letter of credit is long expired, I wanted to clear up the file. If you have any questions, please call me at 758-7750. Sincerely, Deb Deist City Treasurer ddeist@kalispell.com 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 DATE/PLACE OF ISSUE: August 13, 2007 Kalispell MT BENEFICIARY: City of Kalispell PO Box 1997 Kalispell MT 59901 CREDIT NUMBER: 2309600385 DATE OF EXPIRY: August 13, 2008 APPLICANT: Lone Pine Development, LLC 144 East 2"d St, Suite 102 Whitefish MT 59937 UP TO AN AGGREGATE OF USD ********** $33,480.00 Thirty-three thousand Four Hundred Eighty and no/100---------------------dollars Dear Sirs: We hereby establish, in your favor, this Irrevocable Letter of Credit up to the aggregate amount of $33,480.00 at the request of Lone Pine Development, LLC. If Lone Pine Development, LLC fails to complete the agreement with the City of Kalispell in regards to the purchase and planting of trees in the new Lone Pine Trails Subdivision, in the time period listed above, 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 for the City of Kalispell, that the amount is drawn to complete the agreed upon improvements and specifying the default 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. Ti, Is letter may not be withdrawn or reduced in any amount prior to its expiration date except by your draft or written release. Partial drawings permitted. We hereby engage \vital CiraI Ne.i S e11G01'ye.rS 0,110 Cl(iI'1 'i'iC £ i"iOldel's il7at GrmfiLS arlCi/Oi' GQCtimei7%5 Gi'aW"17 Ill C011tot'llllty with the terms of this Letter of Credit will be duly honored upon presentation to First Interstate Bank, at the address shown above, on or before the expiry. Except so far as otherwise expressly stated, this Documentary Credit is subject to the Uniform Customs and Practice for documentary credits (1993 revision) International Chamber of Commerce Publication No. 500. ("UCP"). Sincerely Yours, First Interstate Bank Po Box 7130, Kalispell MT 59904 BY t'1 C,- M ri � Zo r` Its s t! } (Title) 13Y I Junin; Gainey Its ACKNOWLEDGEMENT State of 'r i) C; vt Gw'I-i�— ) County of 4� LaA �,1vcwoL , ) On this 7 ,�j � day of ; 61) j;' in the year (�� , before me, a Notary Public for the State of �%l.�Jy1 -; , personally appeared Marj DeZort and Tammy Grilley, known to me to be the person (s) who executed this letter of credit on behalf of the corporation therein named, and acknowledged to me that such corporation executed the same. oe Print Name: 1LY� VlGyt ivti ,. Notary Public for the State of 1OV��G' v2 Residing at My Commission Expires C i Z (� 1'7iiii;ij'11 itttiltl\\1ST