LC Reduction Letter 07-26-1600,
CITY OF July 26, 2016
CHANHASSEN
7700 Market Boulevard
PO Box 147
Wells Fargo Bank, N.A.
Chanhassen, MN 55317
Attn: U.S. Standby Trade Services
Fax: 952.227.1110
794 Davis Street, MAC A0283-023
Administration
San Leandro, CA 94577-6922
Phone: 952.227.1100
Fax: 952.227.1110
Re: Letter of Credit Release — SouthWest Village Townhomes
Fax: 952.227.1404
Planning Case No. 2013-19
Building Inspections
Senior Planner
Phone: 952.227.1180
Fax: 952.227.1190
To Whom It May Concern:
Engineering Please accept this letter as authorization to release Letter of Credit No. ISO 100005U
Phone: 952.227.1160 in full. Please send written acknowledgement of this reduction to the undersigned at
Fax. 952.227.1170 your earliest convenience.
Finance
Phone: 952.227.1140 If you have any questions or concerns, please contact me by email at
Fax: 952.227.1110 saljaffnkci.chanhassen.mn.us or at 952-227-1134.
Park & Recreation
Sincerely,
Phone: 9,52.227:1120
Fax: 952.227.1110
CITY OF CHANHAS
Recreation Center
2310 Coulter Boulevard
Phone: 952.227.1400
Fax: 952.227.1404
Sharmeen Al-Jaff
Senior Planner
Planning &
Natural Resources
Phone: 952.227.1130
SAJ.jp
Fax: 952.227.1110
Enclosure: Letter of Credit No. IS0100005U
Public Works
7901 Park Place ec: Mark Sonstegard, Ryland Homes
Phone: 952.227.1300 Len Simich, SouthWest Transit
Fax: 952.227.1310
Senior Center
Phone: 952.227.1125 g:\plan\2013 planning cases\2013-19 southwest village townhomes\lc release letter 07-26-16.doc
Fax: 952.227.1110
Website
www.ci.chanhassen.mn.us
Chanhassen is a Community for Life . Providing for Today and Planning for Tomorrow
Irrevocable Standby Letter Of Credit
Number: IS0100005 U
Issue Date: October 17, 2013
BENEFICIARY APPLICANT
CITY OF CHANHASSEN
7700 MARKET BOULEVARD
CHANHASSEN, MINNESOTA 55317
LET T ER OF CREDIT ISSUE AMOUNT
LADIES AND GENTLEMEN:
Wells Fargo Bank, N.A. ✓
U.S. Trade Services
Standby Letters of Credit
MAC Ao28g-o2g
794 Davis Street, 2nd Floor
San Leandro, CA94577-6922
Phone: 1(800) 798-2815 Option 1
E-1�1ai1: sftrade(R�wellsfnrgo.rom
THE RYLAND GROUP, INC.
3011 TOWNSGATE ROAD SUITE 200
WESTLAKE VILLAGE, CALIFORNIA 91361
US^v 9W,20o.14 EXPIR`i ^vATE OCTOBER 16, 2C14
WE HEREBY ISSUE, FOR THE ACCOUNT OF THE RYLAND GROUP, INC. AND IN YOUR FAVOR, OUR
IRREVOCABLE LETTER OF CREDIT IN THE AMOUNT OF $ 90,208.14, AVAILABLE TO YOU BY YOUR DRAFT
DRAWN ON SIGHT ON THE UNDERSIGNED BANK.
THE DRAFT MUST:
(A) BEAR THE CLAUSE, "DRAWN UNDER LETTER OF CREDIT NO. IS0100005U, DATED OCTOBER 17, 2013, OF
WELLS FARGO BANK, N.A.";
(B) BE SIGNED BY THE MAYOR OR CITY MANAGER OF THE CITY OF CHANHASSEN.
(C) BE PRESENTED FOR PAYMENT AT 794 DAVIS STREET,2ND FLOOR, SAN LEANDRO, CA 94577 ON OR
BEFORE 4:00 P.M. ON OCTOBER 16, 2014.
THIS LETTER OF CREDIT SHALL AUTOMATICALLY EXTEND FOR SUCCESSIVE ONE-YEAR TERMS UNLESS, AT
LEAST FORTY-FIVE (45) DAYS PRIOR TO THE NEXT ANNUAL EXTENSION DATE (WHICH SHALL BE OCTOBER
16TH OF EACH YEAR), THE BANK DELIVERS WRITTEN NOTICE TO THE CHANHASSEN CITY MANAGER THAT IT
ELECTS NOT TO EXTEND THIS LETTER OF CREDIT FOR AN ADDITIONAL TERM. WRITTEN NOTICE IS EFFECTIVE
WHEN SENT BY CERTIFIED MAIL, POSTAGE PREPAID, AND DEPOSITED IN THE U.S. MAIL OR BY OVERNIGHT
COURIER, AT LEAST FORTY-FIVE (45) DAYS PRIOR TO THE NEXT ANNUAL EXTENSION DATE ADDRESSED AS
FOLLOWS: CHANHASSEN CITY MANAGER, CHANHASSEN CITY HALL, 7700 MARKET BOULEVARD, P,O. BOX
147, CHANHASSEN, MN 55317, AND IS ACTUALLY RECEIVED BY THE CITY MANAGER AT LEAST THIRTY (30)
DAYS PRIOR TO THE EXTENSION DATE.
THIS LETTER OF CREDIT SETS FORTH IN FULL OUR UNDERSTANDING WHICH SHALL NOT IN ANY WAY BE
MODIFIED, AMENDED, AMPLIFIED, OR LIMITED BY REFERENCE TO ANY DOCUMENT, INSTRUMENT, OR
AGREEMENT, WHETHER OR NOT REFERRED TO HEREIN.
Together we'll go far
Page 1 of 2
Each page of this document is an integral part
of this Irrevocable Standby Letter of Credit Number IS0100005U
THIS LETTER OF CREDIT IS NOT ASSIGNABLE. THIS IS NOT A NOTATION LETTER OF CREDIT. MORE THAN ONE
DRAW MAY BE MADE UNDER THIS LETTER OF CREDIT.
THIS LETTER OF CREDIT SHALL BE GOVERNED BY THE MOST RECENT REVISION OF THE UNIFORM CUSTOMS
AND PRACTICE FOR DOCUMENTARY CREDITS, INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION
NO. 600.
WE HEREBY AGREE THAT A DRAFT DRAWN UNDER AND IN COMPLIANCE WITH THIS LETTER OF CREDIT
SHALL BE DULY HONORED UPON PRESENTATION.
Very Truly Yours,
WELLSFA BANK, N.A.
By: - -
Authorized Signature
The original of the Letter of Credit contains an embossed seal over the Authorized Signature.
Please direct any written correspondence or inquiries regarding this Letter of Credit, always quoting our
reference number, to Wells Fargo Bank, National Association, Attn: U.S. Standby Trade Services
at either 794 Davis Street or 401 Linden Street
MAC A0283-023, MAC D4004-017,
San Leandro, CA 94577-6922 Winston-Salem, NC 27101
Phone inquiries regarding this credit should be directed to our Standby Customer Connection Professionals
1-800-798-2815 Option 1 1-800-776-3862 Option 2
(Hours of Operation: 8:00 a.m. PT to 5:00 p.m. PT) (Hours of Operation: 8:00 a.m. EST to 5:30 p.m. EST)
Together we'll go far
VI LI 113 111 cV Vl. J-1I—Y -LCI VI LI CV II IN un IIJCI JV IVVVVJV
Wells Fargo Bank, N.A.
U.S. Trade Ser -Ores
Standby Letters of Credit
794 Da\ -is Street, 2nd Floor
KA,C Ao283-023,
San Leandro, CA 94577-6922
Phone: 1(800) 798-2815 Option i
E -Mail: sftrade(a,wellsfargo.com
Amendment To
Irrevocable Standby Letter Of Credit
Amendment Number: 001
BENEFICIARY
CITY OF CHANHASSEN
7700 MARKET BOULEVARD
CHANHASSEN, MINNESOTA 55317
LADIES AND GENTLEMEN:
Amend Date : November 25, 2015
APPLICANT
THE RYLAND GROUP, INC.
3011 TOWNSGATE ROAD SUITE 200
WESTLAKE VILLAGE, CALIFORNIA 91361
AT THE REQUEST AND FOR THE ACCOUNT OF THE ABOVE REFERENCED APPLICANT, WE HEREBY AMEND OUR
IRREVOCABLE STANDBY LETTER OF CREDIT (THE "WELLS CREDIT") IN YOUR FAVOR AS FOLLOWS:
THE CURRENT AVAILABLE AMOUNT IS DECREASED BY USD 81,187.14 TO USD 9,021.00.
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.
THIS AMENDMENT IS TO BE ATTACHED TO THE ORIGINAL WELLS CREDIT AND IS AN INTEGRAL PART THEREOF.
Very Truly Yours,
WELLS FARGOr BANK, N.A.
Authorized Signature
The original of the tetter of Credit contains an embossed seal over the Authorized Signature.
1510 Page 1 of 2
Each page of this document is an integral part
of this 1 -revocable Standby Letter of Credit Number IS01MGM, Amendment Number 001
X_
Please direct any written correspondence or inquiries regarding this Letter of Credit, always quoting our
reference number, to Wells Fargo Bank, National Association, Attn: U.S. Standby Trade Services
at either 794 Davis Street, 2nd Floor
MAC A0283-023,
San Leandro, CA 94577-6922
or 401 N. Research Pkwy, 1 st Floor
MAC D4004-017,
WINSTON-SALEM, NC 27101-4157
Phone inquiries regarding this credit should be directed to our Standby Customer Connection Professionals
1-800-798-2815 Option 1 1-800-776-3862 Option 2
(Hours of Operation: 8:00 a.m. PT to 5:00 p.m. PT) (Hours of Operation: 8:00 a.m. EST to 5:30 p.m. EST)
Consent to Amendment 001 on Standby Letter of Credit No. IS0100005U is required to become effective.
Please date and sign belowand return a copy via e-mail to standbylc@wellsfargo.com or return an
original signed copy to our office located at either.
794 Davis Street, 2nd Floor or 401 N. Research Pkwy, 1 st Floor
MAC A0283-023, MAC D4004-017,
San Leandro, CA 94577-6922 WINSTON-SALEM, NC 27101-4157
or Fax to 415-296-8905. or Fax to 336-735-0950.
�i,( Amendment accepted in its entirety
Z3 ZZO 15
Date
F Amendment rejected in its entirety
Authorized Signaturees= ct YOFCHANHASSEN
aZ)22a_7_—_))3� '7C_)ft1 4-7WF
Telephone Number Printed Name of Authorized Signer
U1U
Page 2 of 2
Each page of this multipage document is an integral part
of this Irrevocable Standby Letter of Credit Number 1S0100005U , Amendment Number 001
Amendment To
Irrevocable Standby Letter Of Credit
Number:
Amendment Number:
Amend Date:
BENEFICIARY
CITY OF CHANHASSEN
7700 MARKET BOULEVARD
CHANHASSEN, MINNESOTA 55317
LADIES AND GENTLEMEN:
150100005 U
001
November 25, 2015
APPLICANT
Wells Fargo Bank, N.A.
U.S. Trade Services
Standbv Letters of Credit
794 DariS Street, 2nd Floor
K -AC A0283-0231
San Lemclro, CA94577-69 22
Phone; 1(800) 798-281; Option i
E -Mail: sftrtide(a>tivellsfargo.com
CETT' REGEI EDf�
SE
NOV 2015
CHANHASSEN Rt.ANNING QEPT
THE RYLAND GROUP, INC.
3011 TOWNSGATE ROAD SUITE 200
WESTLAKE VILLAGE, CALIFORNIA 91361
AT THE REQUEST AND FOR THE ACCOUNT OF THE ABOVE REFERENCED APPLICANT, WE HEREBY AMEND OUR
IRREVOCABLE STANDBY LETTER OF CREDIT (THE "WELLS CREDIT") IN YOUR FAVOR AS FOLLOWS:
THE CURRENT AVAILABLE AMOUNT IS DECREASED BY USD 81,187.14 TO USD 9,021.00.
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.
THIS AMENDMENT IS TO BE ATTACHED TO THE ORIGINAL WELLS CREDIT AND IS AN INTEGRAL PART THEREOF.
Very Truly Yours,
WELLS FARGO BANK, N.A.
`Authorized Signature
The original of the Letter of Credit contains an embossed seal over the Authorized Signature.
'Together we'11 go far
.. ..... ..3V 1.1TIC11UI11" It IV rmmr UV I
Please direct any written correspondence or inquiries regarding this Letter of Credit, always quoting our
reference number, to Wells Fargo Bank, National Association, Attn: U.S. Standby Trade Services
at either 794 Davis Street, 2nd Floor
MAC A0283-023,
San Leandro, CA 94577-6922
or 401 N. Research Pkwy, 1st Floor
MAC D4004-017,
WINSTON-SALEM, NC 27101-4157
Phone inquiries regarding this credit should be directed to our Standby Customer Connection Professionals
1-800-798-2815 Option 1 1-800-776-3862 Option 2
(Hours of Operation: 8:00 a.m. PT to 5:00 p.m. PT) (Hours of Operation: 8:00 a.m. EST to 5:30 p.m. EST)
Consent to Amendment 001 on Standby Letter of Credit No. IS0100005U is required to become effective.
Please date and sign below and return a copy via e-mail to standbylc@wellsfargo.com or return an
original signed copy to our office located at either.
794 Davis Street, 2nd Floor or 401 N. Research Pkwy, 1 st Floor
MAC A0283-023, MAC D4004-017,
San Leandro, CA 94577-6922 WINSTON-SALEM, NC 271 01-41 57
or Fax to 415-296-8905. or Fax to 336-735-0950.
"! Amendment accepted in its entirety
Date
Telephone Number
7 Amendment rejected in its entirety
Authorized Signature- CITY OFCHANHASSEN
Printed Name of Authorized Signer
Each page of this multipage document is an integral part
of this Irrevocable Standby Letter of Credit Number 150100005!!, Amendment Number 001
`i'ogether we'd go far