ORDER N0. ~7c7c LETTER OF CREDIT FOR CONSTRUCTION OF ROADS IN FALLING WATER, GCT #~ On this the `nth day of October C@@i, upon a motion made by Commissioner- Lets, seconded by Commissioner- Baldwin, the Court unanimously approved 6y a vote of 4-@-@, to accept replacement Letter- of Credit for- constr•~_iction of roads in Falling Water• Subdivision, F'r•ecinct 3. COMMISSIONERS' COURT AGENDA REQUEST _ PLEASE FURNISH ONE ORGINAL AND NINE COPIES OF THIS REQUEST AND DOCUMENTS TO BE REVIEWED BY THE COURT. MADE BY: Franklin Johnston, P.E. MEETING DATE: October 9.2001 OFFICE: Road & Bridge TIME PREFERRED: SUBJECT: (PLEASE BF. SPF,CIFICI Consider and accept Letter of Credit for Construction of Roads in Falling_Water Pct 3 EXECUTIVE SESSION REQUESTED: (PLEASE STATE REASON) NAME OF PERSON ADDRESSING THE COURT: Franklin Johnston, Dale Crenwelge ESTIMATED LENGTH OF PRESENTATION: 10 minutes IF PERSONNEL MATTER -NAME OF EMPLOYEE: Time for submitting this request for Court to assure that the matter is posted in accordance with Title 5, Chapter 551 and 552, government Code, is a follows: Meeting scheduled for Mondays: 5:00 P.M. previous Tuesday THiS REQUEST RECEIVED BY: THIS REQUEST RECEIVED ON: All Agenda Requests will be screened by the County Judge's Office to determine if adequate information has been prepared for the Court's formal consideration and action at time of Court Meetings. Your cooperation will be appreciated and contribute towazds your request being addressed at the eazliest opportunity. See Agenda Request Rule Adopted by Commissioners' Court. ._ SECURITY STATE BANK AND TRUST BRANCH OFFICE: P.O. BOX 220 • COMFORT, TEXAS ]8013 PHONE (830) 995-4488 JEFF GOLDMAN ~ I l SENIOR VICE PRESIDENTBRANCH MANAGER 1 ~- -~ •~ .. ~j ~ ' .~ ~. ,. , TO: COUNTY OF KERB FROM: SECURITY STATE BANKK & TRUST 4010 SAN ANTONIO HWY P.O. BOX 220 KERRVILLE, TEXAS 78028 COMFORT, TEXAS 78013 LETTER OF CREDIT NO #08005 Construction ofNew Roads, Streets, and Alleyways In Falling Water Subdivision A DEPOSIT ON BEHALF OF Crenwelg~ LLC. This is an irrevocable letter of credit issued to you the County of Kerr, Texas, at the request of Dale A Crenwelee, in accordance with Chapter 5, V.T.C.A., Texas Business and Commerce Code. This Bank promises to pay to the order of the Kerr County, Texas, upon presentation of a sight draft, any amount not exceeding the cumulative total of ($) 250 000.00 on or after October 10, 2001. This is not a notation credit, and Kerr County, Beneficiary shall be entitled to payment without the presentation of documents. In accordance with Section 5.106 if the Texas Business and Commerce Code, this letter of credit may be modified by the reduction of the total outstanding and unused amount of this credit, upon the execution and delivery to issuer of a sworn statement making demand by the County Engineer of Kerr County, or by anyone purporting to be his duly authorized agent, and presenting a document to that effect on Ken County letterhead. This letter of credit shall expire on October 10, 2002 IN WITNESS WHEREOF, the Issuer has caused this letter to be signed and attested by its duly ~'J 61 C-~ (83019W-7575 (5121264-9900 (91513883535 16.901066-dd00 16301095-2000 (83016935557 18301249-9292 19:701438~48d9