RELEASE OF IRREVOCABLE LETTER OF CREDIT
This Release of Irrevocable Letter of Credit (the “Release”) is hereby presented by the Director of the Town of Plainfield to (Name of Subdivider), (the “Principal”), and (Name of Bank or Agency), (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 Plainfield as surety for the improvements, installations and lot improvements (the “Improvements”) required by the Town of Plainfield Subdivision Control Ordinance (the “Subdivision Control Ordinance”), other applicable Ordinances of the Town of Plainfield, and the Town of Plainfield Plan Commission (the “Plan Commission”) for the subdivision known as (Name of Subdivision and Section #, if applicable) (the “Subdivision”); and
WHEREAS, the Town of Plainfield has received an Letter of Compliance 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 of Plainfield and the Plan Commission (Check all items to be covered by this Release):
[ ] | street base | [ ] | street binder |
[ ] | curbs | [ ] | sanitary sewer |
[ ] | storm drainage | [ ] | water system |
[ ] | street topcoat | [ ] | street signs |
[ ] | lot drainage | [ ] | monumentation |
[ ] | erosion control | [ ] | soil preservation |
[ ] | debris and waste removal | [ ] | fencing |
[ ] | [ ] | final grading and lawn preparation | |
[ ] | [ ] | ||
WHEREAS, the Town of Plainfield has issued a Completion Letter indicating that the Town of Plainfield has accepted the above indicated Improvements for maintenance.
NOW, THEREFORE, the Irrevocable Letter of Credit issued for the above indicated Improvements is hereby released.
TOWN OF PLAINFIELD
By:________________________________________
Printed:_____________________________________
Director, Department of Planning and Zoning
Town of Plainfield, Hendricks County, Indiana
(Ord. 22-97, passed - -1997; Ord. 28-2019, passed 10-28-2019; Ord. 04-2020, passed 2-10-2020)