HomeMy WebLinkAbout0000 Catkin Drive - Landscaping - 6/12/2003CITY OF SOUTH BURLINGTON
DEPARTMENT OF PLANNING & ZONING
575 DORSET STREET
SOUTH BURLINGTON, VERNIONT 05403
(802) 846-4106
FAX (802) 846-4101
June 11, 2003
Stephen R. Crampton, Esq.
Gravel and Shea
P. O. Box 369
Burlington, VT 05402-0369
Re: Phase II Landscaping Bond
Dear Mr. Crampton:
Enclosed please find a copy of Irrevocable Standby Letter of Credit No 10034 which the
City has been provided by IV1BL Associates, LLC. The Letter ensures the obligations of IVIBL
Associates, LLC to replace any dying or diseased landscaping in Phase II of Dorset Farms. The
Letter is for the 3-year period subsequent to the acceptance of the landscaping by the City which
occurred in August, 2002.
I —_.----
Very -y yours,
d�, r
Raymond Belair
June 5, 2003
City of South Burlington
575 Dorset Street
South Burlington, VT 05403
Re: Irrevocable Standby Letter of Credit #10034
MBL Associates, LLC
PO Box 4193
Burlington, VT 05402
Dear Beneficiary:
We hereby establish our Irrevocable Standby Letter of Credit
#10034 in favor of City of South Burlington for the account of
MBL Associates, LLC up to an aggregate amount of $12,750.00
available by your draft or drafts on us at sight accompanied by:
1.) the original Letter of Credit and all amendments, if
any,
2.) a written statement signed by an authorized officer of
City of South Burlington that these funds are due you under
the terms of your agreement with MBL Associates, LLC,
accompanied by
3.) a current secretary certificate or resolution from City
of South Burlington that the officer is authorized to sign
on behalf of City of South Burlington.
If your demand represents a partial drawing hereunder, we will
endorse the original credit and return same to you for possible
future claims. If, however, your demand represents a full
drawing, or if such drawing is presented on the day of the
relevant expiration date hereof, we will hold the original for
our files and remove same from circulation.
All drafts must be marked under Letter of Credit #10034.
Two Burlington Square P.O. Box 820 Burlington, Vermont 05402 802-658-4000 www.chittenden.com
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We engage with you that all drafts drawn under and in compliance
with the terms and conditions of this credit will be duly honored
on delivery of documents as specified if presented at this office
on or before August 16, 2005.
Except so far as otherwise expressly stated, this credit is
subject to the "International Standby Practices ISP 98 (1998
Revision), International Chamber of Commerce Publication #590"
Very truly yours,
Debra E. Cross
Vice President
Two Burlington Square P.O. Box 820 Burlington, Vermont 05402 802-658-4000 www.chittenden.com
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1
BENEFICIARY ACCEPTANCE
Chittenden Bank has this 5th day of June, 2003 caused
Delivered Letter of Credit #10034 to the Beneficiary,
South Burlington. This Letter of Credit is Issued on
MBL Associates, LLC.
City l' gton
By
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,D horized Agent
Date 6
to be Hand
City of
behalf of
Two Burlington Square P.O. Box 820 Burlington, Vermont 05402 802-658-4000 www.chittenden.com