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 Ti, Is letter may not be withdrawn or reduced in any amount prior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
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Its s t! }
(Title)
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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 (�
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