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Home My WebLink AboutKiewit Pacific 2005-10-28; Letter of Credit - CONFIDENTIALank® erica BANK OF AMERICA - CONFIDENTIAL DATE: MAY 3, 2006 IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER: 3081856 BENEFICIARY CITY OF UKIAH 300 SEMINARY RD. UKIAH, CA 95482-5400 APPLICANT KIEWIT PACIFIC 1000 KIEWIT PLAZA OMAHA NE 68131 PAGE: 1 AMOUNT NOT EXCEEDING USD 2,826,900.00 NOT EXCEEDING TWO MILLION EIGHT HUNDRED TWENTY SIX THOUSAND NINE HUNDRED AND 0011001S US DOLLARS EXPIRATION APRIL 28, 2007 AT OUR COUNTERS WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. 3081856 IN FAVOR OF CITY OF UKIAH FOR THE ACCOUNT OF KIEWIT PACIFIC. FOR AN AGGREGATE AMOUNT NOT TO EXCEED $2,826,900.00 USD (USD TWO MILLION EIGHT HUNDRED TWENTY SIX THOUSAND NINE HUNDRED AND 00/100) AVAILABLE AGAINST PRESENTATION OF YOUR DRAFTS(S) AT SIGHT DRAWN ON BANK OF AMERICA, N.A. ACCOMPANIED BY THE FOLLOWING: BENEFICIARY'S SIGNED STATEMENT CERTIFYING THAT "THE UNDERSIGNED, EACH BEING AN AUTHORIZED OFFICER OF THE CITY OF UKIAH HEREBY REPRESENT AND WARRANTS THAT THE AMOUNT OF THE ACCOMPANYING DRAFT REPRESENTS AND COVERS PAYMENT DUE TO THE BENEFICIARY BECAUSE KIEWIT PACIFIC IS IN DEFAULT UNDER THE UKIAH WASTE WATER TREATMENT PLANT PROJECT (CONSTRUCTION OF CLARIFIERS INFLUENT PUMPING STATION OPERATIONS BUILDING) DATED OCTOBER 28, 2005. THE CITY OF UKIAH HAS GIVEN KIEWIT PACIFIC 10 DAYS NOTICE OF THEIR INTENT TO DRAW BY COURIER OR CERTIFIED MAIL, RETURN RECEIPT, ON THIS LETTER OF CREDIT NO. 3081856." THE ORIGINAL LETTER OF CREDIT AND ANY DRAWING FOR ENDORSEMENT. THE ENDORSED WILL BE RETURNED TO THE AVAILABLE. AMENDMENTS, IF ANY, MUST ACCOMPANY ORIGINAL LETTER OF CREDIT, SO BENEFICIARY UNLESS NO AMOUNT REMAINS PARTIAL DRAWINGS ARE PERMITTED. IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT IS DEEMED TO BE AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ONE YEAR FROM THE EXPIRY DATE HEREOF, OR ANY FUTURE EXPIRATION DATE, UNLESS AT LEAST 60 DAYS ORIGINAL Bank of America, N.A. Trade Operations CAR-705-07-05 1000 W. Temple St., Los Angeles, CA 90012-15140 00-35-0201NSB 10-2005 Bank of America BANK OF AMERICA - CONFIDENTIAL PAGE: 2 THIS IS AN INTEGRAL PART OF LETTER OF CREDIT NUMBER: 3081856 PRIOR TO ANY EXPIRATION DATE WE NOTIFY YOU BY REGISTERED MAIL OR OVERNIGHT COURIER SERVICE THAT WE ELECT NOT TO CONSIDER THIS LETTER OF CREDIT RENEWED FOR ANY SUCH ADDITIONAL PERIOD. ALL DRAFTS DRAWN UNDER THIS CREDIT MUST CONTAIN THE CLAUSE "DRAWN UNDER BANK OF AMERICA, N.A. LETTER OF CREDIT NO. 3081856 DATED MAY 3, 2006." WE HEREBY ENGAGE WITH YOU THAT DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS LETTER OF CREDIT WILL BE DULY HONORED ON DUE PRESENTATION AND DELIVERY OF DOCUMENTS AS SPECIFIED TO BANK OF AMERICA, N.A., 1000 W. TEMPLE STREET, 7TH FLOOR, M/C CA9-705-07-05, LOS ANGELES, CA 90012. THIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE 1993 REVISION OF THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS OF THE INTERNATIONAL CHAMBER OF COMMERCE (PUBLICATION NO. 500). IF THIS CREDIT EXPIRES DURING AN INTERRUPTION OF BUSINESS AS DESCRIBED IN ARTICLE 17 OF SAID PUBLICATION 500, THE BANK HEREBY SPECIFICALLY AGREES TO EFFECT PAYMENT IF THIS CREDIT IS DRAWN AGAINST WITHIN 30 DAYS AFTER THE RESUMPTION OF BUSINESS. J A THORIZED SIGNATURE THIS DOCUMENT CONSISTS OF 2 PAGE(S). Bolivar Carrgn 10 ORIGINAL Bank of America, N.A. Trade Operations CA9-705-07-05 1000 W. Temple St., Los Angeles, CA 90012-15140 00-35-0201NSB 10-2005 ank fAmerica ® BANK OF AMERICA - CONFIDENTIAL DATE: MAY 3, 2006 IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER: 3081856 BENEFICIARY CITY OF UKIAH 300 SEMINARY RD. UKIAH, CA 95482-5400 APPLICANT KIEWIT PACIFIC 1000 KIEWIT PLAZA OMAHA NE 68131 PAGE: 1 AMOUNT NOT EXCEEDING USD 2,826,900.00 NOT EXCEEDING TWO MILLION EIGHT HUNDRED TWENTY SIX THOUSAND NINE HUNDRED AND 0011001S US DOLLARS EXPIRATION APRIL 28, 2007 AT OUR COUNTERS WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. 3081856 IN FAVOR OF CITY OF UKIAH FOR THE ACCOUNT OF KIEWIT PACIFIC. FOR AN AGGREGATE AMOUNT NOT TO EXCEED $2,826,900.00 USD (USD TWO MILLION EIGHT HUNDRED TWENTY SIX THOUSAND NINE HUNDRED AND 00/100) AVAILABLE AGAINST PRESENTATION OF YOUR DRAFTS(S) AT SIGHT DRAWN ON BANK OF AMERICA, N.A. ACCOMPANIED BY THE FOLLOWING: BENEFICIARY'S SIGNED STATEMENT CERTIFYING THAT "THE UNDERSIGNED, EACH BEING AN AUTHORIZED OFFICER OF THE CITY OF UKIAH HEREBY REPRESENT AND WARRANTS THAT THE AMOUNT OF THE ACCOMPANYING DRAFT REPRESENTS AND COVERS PAYMENT DUE TO THE BENEFICIARY BECAUSE KIEWIT PACIFIC IS IN DEFAULT UNDER THE UKIAH WASTE WATER TREATMENT PLANT PROJECT (CONSTRUCTION OF CLARIFIERS INFLUENT PUMPING STATION OPERATIONS BUILDING) DATED OCTOBER 28, 2005. THE CITY OF UKIAH HAS GIVEN KIEWIT PACIFIC 10 DAYS NOTICE OF THEIR INTENT TO DRAW BY COURIER OR CERTIFIED MAIL, RETURN RECEIPT, ON THIS LETTER OF CREDIT NO. 3081856." THE ORIGINAL LETTER OF CREDIT AND ANY DRAWING FOR ENDORSEMENT. THE ENDORSED WILL BE RETURNED TO THE AVAILABLE. PARTIAL DRAWINGS ARE PERMITTED. AMENDMENTS, IF ANY, MUST ACCOMPANY ORIGINAL LETTER OF CREDIT, SO BENEFICIARY UNLESS NO AMOUNT REMAINS Bank ®f America ®®i BANK OF AMERICA - CONFIDENTIAL PAGE: 2 THIS IS AN INTEGRAL PART OF LETTER OF CREDIT NUMBER: 3081856 PRIOR TO ANY EXPIRATION DATE WE NOTIFY YOU BY REGISTERED MAIL OR OVERNIGHT COURIER SERVICE THAT WE ELECT NOT TO CONSIDER THIS LETTER OF CREDIT RENEWED FOR ANY SUCH ADDITIONAL PERIOD. ALL DRAFTS DRAWN UNDER THIS CREDIT MUST CONTAIN THE CLAUSE "DRAWN UNDER BANK OF AMERICA, N.A. LETTER OF CREDIT NO. 3081856 DATED MAY 3, 2006." WE HEREBY ENGAGE WITH YOU THAT DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS LETTER OF CREDIT WILL BE DULY HONORED ON DUE PRESENTATION AND DELIVERY OF DOCUMENTS AS SPECIFIED TO BANK OF AMERICA, N.A., 1000 W. TEMPLE STREET, 7TH FLOOR, M/C CA9-705-07-05, LOS ANGELES, CA 90012. THIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE 1993 REVISION OF THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS OF THE INTERNATIONAL CHAMBER OF COMMERCE (PUBLICATION NO. 500). IF THIS CREDIT EXPIRES DURING AN INTERRUPTION OF BUSINESS AS DESCRIBED IN ARTICLE 17 OF SAID PUBLICATION 500, THE BANK HEREBY SPECIFICALLY AGREES TO EFFECT PAYMENT IF THIS CREDIT IS DRAWN AGAINST WITHIN 30 DAYS AFTER THE RESUMPTION OF BUSINESS. AUTHORIZED SIGNATURE THIS DOCUMENT CONSISTS OF 2 PAGE(S). ORIGINAL Bank of America, N.A. Trade Operations CA9-705-07-05 1000 W. Temple St., Los Angeles, CA 90012-15140 00-35-0201NSB 10-2005 C*NW II' ' T! I M CRY "X% Bank of America N.A. Trade Operations 1000 W. Temple Street Los Angeles, CA 90012 Ref: Irrevocable Standby Letter of Credit Number 3081856 Dear Sir/Madam, You are hereby authorized to cancel the above referenced Standby Letter of Credit as the work by the applicant, Kiewit Pacific, has been completed. Thank you for your assistance in this matter. Sincerely, ane Chambers City Manager 300 SEMINARY AVENUE UKIAH, CA 95482-5400 Phone# 707/463-6200 Fax# 707/463-6204 Web Address: www.cityofukiah.com