This Release of Irrevocable Letter of Credit (the “Release”) is hereby presented by the Town Council of the Town of New Carlisle, St. Joseph County, Indiana (the “Council”) to , (the “Principal”), and , (the “Surety Company”) as of this______day of_________________, .
WHEREAS, Principal and Surety Company have posted an Irrevocable Letter of Credit, Letter of Credit No.________, in favor of the Town of New Carlisle (the “town”) as surety for the improvements, installations and lot improvements (the “Improvements”) required by the Town of New Carlisle Subdivision Control Ordinance (the “Subdivision Control Ordinance”), other applicable Ordinances of the town, and the Council for the subdivision known as (the “Subdivision”); and
WHEREAS, the town has approved a Completion Affidavit from the responsible design professional representing that all Improvements have been constructed and installed in compliance with all requirements, standards and specifications of the Subdivision Control Ordinance, other applicable ordinances of the town and the Council [Check all items to be covered by this Release]:
road base course | road intermediate course | ||
road surface course | street signs | ||
curbs | sidewalks | ||
sanitary sewer | water system | ||
storm drainage & retention | lot drainage | ||
erosion control | soil preservation | ||
survey monumentation | fencing | ||
debris and waste removal | grading and landscaping | ||
as-built drawings | electric system | ||
; and | |||
WHEREAS, the town has issued a Completion Affidavit indicating that the town has accepted the above indicated Improvements for maintenance, subject to the provision of all applicable maintenance bonds.
NOW, THEREFORE, the Irrevocable Letter of Credit issued for the above indicated Improvements is hereby released.
TOWN OF NEW CARLISLE
Approved this _________day of__________________, ________.
By: ____________________________________
Printed:_________________________________
Title:___________________________________
(Ord. 1223, Form E, passed 5-11-2010)