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HomeMy WebLinkAboutLaurel Links Country Club ELIZABETH A. NEVILLE TOWN CLERK REGISTRAR OF VITAL STATISTICS MARRIAGE OFFICER RECORDS MANAGEMENT OFFICER FREEDOM OF INFORMATION OFFICER Town Hail, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (631) 765-6145 Telephone (631) 765-1800 southoldtown.northfork.net OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION NO. 49 OF 2005 WAS ADOPTED AT THE REGULAR MEETING OF THE SOUTHOLD TOWN BOARD ON FEBRUARY 1, 2005: RESOLVED that the Town Board of the Town of Southold hereby aooroves the letter of credit number 100294 in the amount of $100,000.00 of the Bank of Smithtown for the completion of improvements in the site plan construction for Laurel Links Country Club, Ltd. SCTM# 1000-125-3-13, 15, 17; 1000-125-4-21,24.1; & 1000-125-7~1 located at the north side of Main Road (State Road 25), Mattituck, New York, as rccommcnded by the Southold Town Planning Board and the Town Engineer, subject to the approval of the Town Attomey. Elizabeth A. Neville Southold Town Clerk RESOLUTION FEBRUARY t, 2006 V - 49 RESOLVED that the Town Board of the Town of Southold hereby auoroves the letter of credit number 100294 in the amount of $100.000.00 of the Bank of Smithtown for the completion of improvements in the site plan construction for Laurel Links Country Club, Ltd. SCTM# I000-125-3-13, 15, 17; I000-125-4-21,24.1; & 1000-126-7-1 located at the north side of Main Road (State Road 25), Mattituck, New York, as recommended by the Southold Town Planning Board and the Town Engineer, subject to the approval of the Town Attorney. PLANNING BOARD M~ JERILYN B. WOODHO~E C~ ~TH L. EDW~ GEORGE D. SOLOHON M3YI.ING ADDRESS: P.O. Box 1179 Southold, NY 11971 OFFICE LOCATION: Town Hall Annex 54375 State Route 25 (cor. Ma/n Rd. & Youngs Ave.) Southold, NY Telephone.' 681 765-1998 Fax: 631 76~-3136 PLANNING BOARD OFFICE TOWN OF SOUTHOLD February 1,2005 Elizabeth Neville, Town Clerk Town of $outhold P.O. Box 1179 Sduthold, N.Y. 11971 RE: Laurel Links, Ltd. Letter of Credit SCTM# 1000-125-3-13, 15, 17 & SCTM# 1000-125-4-21, 24.1 & SCTM# 1000-126-7-1 Dear Mrs. Neville: At its January 31, 2005 meetingj'[he Southold Town Planning Board accepted and agreed to send to the Town B(~rd the Bank of Smithtown's Irrevocable Standby Letter of Credit No. 100294 in the arflount of $100,000. dated January 26, 2005 on the Laurel Links, Ltd. site plan. The Bond Estimate indicates the pementage of construction items not completed to date and reflects the estimated cost of work remaining. It is the Planning Board's recommendation that the Town Board accept these items at its regularly scheduled meeting. Also enclosed is the Town Engineer's letter dated January 27, 2005. If you have any questions regarding the above, please contact this office. uly yours, Jerilyn B. Woodhouse Chairperson encs. BANKo SMITHTOWN Dedicated. To You. 100 Motor Parkway Sixth Floor, Suite 160 Hauppauge, LI, NY 11788 63~-360-g300 January 27,2005 Town of Southold Main Road Southold, New York IRREVOCABLE STANDBY LETTER OF CREDIT NO. 100294 Issue Date: Expiration Date: BENEFICIARY: SUBJECT: January27,2005 January 26,2006 Southold Town Board Town of Southold Main Road Southold, New York 11971 EEB - 1 Performance Bond, $100,000.00 Laurel Links Country Club, Inc. Laurel, New York 7005 Dear Board Members: By order and for the account Of our client, Laurel Links Country Club, Inc., with a mailing address at Post Office Box 307, Laurel, New York 11948, and in accordance with the resolution of the Southold Town Planning Board, we hereby establish this Irrevocable Letter of Credit No. 100294, in your favor for an amount up to, but not exceeding, the aggregate sum of One Hundred Thousand Dollars ($t00,000.00) effective immediately and expidng at our main office located at One East Main Street, Smithtown, New York on January 26, 2005. Funds under this Letter of Credit are available to you against your sight draft(s) signed by your authorized officer, drawn on us bearing the clause "Drawn under Letter of Credit No. 100294" accompanied by a written statement signed by the Chairperson of the Southold Planning Board to read as follows: "This drawing has been caused by the default of Laurel Links Country Club, Inc. or its failure to complete performance in order to receive a final certificate of occupancy for the facilities by the required date, of certain site improvements including landscaping, seeding, trailer removal, paving and drainage work as called out by resolution of the Southold Planning Board in the amount of up to $100,000.00.' · Founded 1910 BANKo SMIT H T Southold Planning Board page 2- January 27,2005 IRREVOCABLE STANDBY LETTER OF CREDIT NO. 100294, continued It is a condition of this Irrevocable Letter of Credit that it shall be deemed automatically extended without amendment for additional one year periods from the present, unless forty- five (45) days prior to any such date, we shall notify you in writing by ce;tiffed mail at the abOVe listed address that we elect not to consider this Letter of Credit renewed for any such additional pedods. This Letter of Credit sets forth in full the terms of our undertaking and such undertaking shall not in any way be modified, amended or amplified by reference to any document or instrument referred to herein or in which this Letter of Credit relates and any such reference shall not be deemed to incorporate herein by reference any document or instrument. Very truly yours, BANK O~7~ITHT7 By: ~_~~resident and Chief Lending OffiCer 2 · Founded 1910 · JOSHUA Y. HORTON SUPERVISOR TOWN HALL - 53095 MAI[lq ROAD Fax (516)-765-1366 JAMES A. RICHTER, R.A. ENGINEER TOWN OF SOUTFIOLD, NEW YORK 11971 T¢1.(516)- 765 -1560 OFFICE OF THE ENGINEER TOWN OF SOUTHOLD Jerilyn B. Woodhouse Chairperson - Planning Board Town Hall, 53095 Main Road Southold, New York 11971 Re~ January 27, 2005 Laurel Links Country Club Mattituck, New York SCTM #: 1000 - 125 - 03 - 13 Dear Mrs. Woodhouse: As per a request from your office, I have reviewed the developer's request for approval of site plan construction requirements for the above referenced project. The developer is in need of a Certificate of Occupancy for the overall facility. As per Mr. Verity, the building construction is virtually complete. However, Due to the fact that site plan construction has not yet been finished, the Building Department cannot issue a final C.O. In an effort to expedite or offer a solution to his dilemma, the developer has proposed the creation of a bond or letter of credit to guarantee the completion of the project as approved. Since the weather is currently the detarmining factor related t~-[imely completion of the project, his offer is not Considered an unreasonable request. I have revie,~ed this matter with Mr. Verity and he has agreed that a temporary C.O. Could be issued if a bond i~s posted. I have reviewed the Cost Schedule dated 1/26/05 supplied by the developer. The inComplete construction items required for Conclusion of the project, are, but should not be limited to, the items listed in the estimate as supplied by the developer. The total estimate of $100,000.00 should be more than adequate to Cover the costs of all incomplete construction items. At this time, one additional requirement should be considered. Barricades should be placed around all areas of the site where incomplete construction items may be considered hazardous. In addition, temporary signage may be necessary to control site access or indicate an appropriate traffic pattern that would also serve to protect the occupants of the site. If you have any questions regarding this review, please contact my office. cc: Michael J. Verity (Chief Building Inspector) Richter, P.A. Laurel Links Country Club Mrs. Jeriyln Wodhouse, Chairwomah Southold Town Planning Board Main Road Southold, NY 11971 January 26, 2005 Dear Jeff: Attached as Schedule A please find an itemized list of outstanding items and related costs remaining to complete the Laurel Links Country Club site plan as confirmed in your inspection January 10, 2005. As stated in both my January 10, 2005 and Januao' 20, 2005 letters, the Club would be willing to take out a performance bond/letter of credit in favor of the Town (in the amount of $100,000 per the schedule) to insure our completion of the remaining work in the time frames stated in the letters. Enclosed with this letter as well is a reduced copy of the section of the site plan showing the western area of the clubhouse parking lot that we would commit to using exclusively until the final top coat is applied. We would block off the area with the raised septic system lids to reduce any potentj.'al liability. We would mark off the one lid near the pool house steps as Well. The amount of available parking spaces in this area is more than sufficient to meet our needs until the paving is completed We are most hopeful that, upon the procurement of the bond (we would be happy to speak with Jamie Richter and/or Pat Fiunegan for the proper wording) and acceptance of the above described stipulation regarding use of the parking lot, the Planning Board will now be able to give the approval requested by the Building Department so that our clubhouse Certificate of Occupancy can be issued. Please feel free to contact me if you have any questions. General Manager dAlq 2 7 2005 cc: LLCC Board of Directors P.O. Box 307 · Laurel, New York 11948-0307 · 631-298-1490 · Fax 631-298-8005 · www. laurellinks.com PLANNING BOARD MEMBERS JERILYN B. WOODHOUSE Chair wrI,T,! Ad%'~ J. CREMERS KENNETH L. EDWARDS MARTIN H. SIDOR GEORGE D. SOL01~0N PLANNING BOARD OFFICE TOWN OF SOUTHOLD MA~NG ADDRESS: P.O. Box 1179 Southold, NY 1197 1 O~'~BCE LOCATIOI~: Town Hall Annex 54375 State Route 25 (cor. Main Rd. & Youngs Ave.) Southold, NY Telephone: 631 765-1938 Fax: 631 765-3136 MEMORANDUM To: Lynda Bohn From: Bruno Semon, Senior Site Plan Reviewer(~ Date: January 27, 2005 Re: Laurel Links Country Club SC Tax MaD # 1000-125-3-13 E~osed ject. is a copy of a lett~and cost schedule regarding the above-referenced Would you please place this on the agenda for the next Town Board meeting. Thank you. enc. Laurel Links Country Club A. SITE PLAN COMPLETION COST SCHEDULE Indicating Value Of Work Remaining as of January 26, 2005 1. Landscaping- Shrubbery- Pool Fence Border $ 6,420.00 2. Landscaping- Shrubbery- Pool House Perimeter $ 3,350.00 3. Seeding/Sodding- Pool House areas $ 9,765.00 4. Seeding/Sodding- Ca~t Storage Building Border (north side) $ 1,450.00 5. Trailer Removal & Subsequent Seeding/Sodding/Landscaping $ 3,750.00 6. Asphalt Wearing Course- Parking Lot $ 50,000.00 7. Parking Lot Parking Space Striping $ 11,050.00 8. Replacement of Dead Shrubbery (Uoder Guaranty) N/C 9. Drainage Work, Fertilizer, Sprinkler System Repairs, Misc. $ 14.215.00 TOTAL $100,000.00 P.O. Box 307 · Laurel, New York 11948-0307 · 631-298-1490 · Fax 631-298-8005 · www.laurellinks.com ELIZABETH A. NEVILLE TOWN CLERK REGISTHAR OF VITAL STATISTICS MARRIAGE OFFICER RECORDS MANAGEMENT OFFICER FREEDOM OF INFORMATION OFFICER Town Hall, 53095 Main Road P.O. Box 1179 Southold;.New York 11971 Fax (631)765-6145 Telephone (631) 765-1800 southoldtown.northfork.net OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD Febmaryl0,2005 Joseph P. Pfaff Laur¢l LinksCountryClub Po Box 307 Laurel, NY 11948-0307 RE: Letter of Credit Dear Mr Pfaff: The Southold Town Board at its meeting held Tuesday, February 1, 2005, adopted a resolution accepting the letter of credit number 100294, in the mount of $100,000.00 of the Bank of Smithtown. A certified copy of this resolution is enclosed. Very truly yours, Elizabeth A. Neville Southold Town Clerk Encl lmb Mailing Address: £O. Box 1547 Riverhead, NY11901 CHARLES R. CUDDY ATTORNEY AT LAW 445 GR! FFING AVENUE RIVERHEAD, NEW YORK January 13, 2003 Vt.- TEL: (631) 369-8200 FAX: (631) 369-9060 E-mail: charles .cuddy@verizon. net Southold Town Planning Board Town Hall Main Road Southold, NY 11971 Re: Laurel Links Ltd. Dear Board Members: Enclosed is the original Letter of Credit from the Bank of Smithtown in the reduced amount of $144,625.00. This Letter of Credit expires at January 6, 2004, and replaces the Letter of Credit, dated April 24, 2002. Please note that the Letter of Credit is automatically extended for additional one (1) year periods, unless forty-five (45) days prior to the expiration date, the Bank notifies the Planning Board in writing that it will not renew the Letter of Credit. Please return the old Letter of Credit to this office in the envelope provided. Thank you. CRC:ik Enclosures Very truly yours, Charles R. Cuddy BANK SMITHTOWN Dedicated. To You. 100 Motor Parkway Sixth Floor, Suite 160 Hauppauge, LI, NY 11788 631-360-9300 January 27,2005 Town of $outhold Main Road Southold, New York IRREVOCABLE STANDBY LETTER OF CREDIT NO. 100294 Issu~ Date: Expiration Date: BENEFICIARY: SUBJECT: January 27,2005 January 26,2006 Southold Town Board Town of Southold Main Road $outhold, New York 11971 Performance Bond, $100,000.00 Laurel Links Country Club, Inc. Laurel, New York FEB - ~ 2005 Dear Board Members: By order and for the account of our client, Laurel Links Country Club, Inc., with a mailing address at Post Office Box 307, Laurel, New York 11948, and in accordance with the resolution of the Southold Town Planning Board, we hereby establish this Irrevocable Letter of Credit No. 100294, in your favor for an amount up to, but not exceeding, the aggregate sum of One Hundred Thousand Dollars ($100,000.00) effective immediately and expiring at our main office located at One East Main Street, Smithtown, New York on January 26, 2005. Funds under this Letter of Credit are available to you against your sight draft(s) signed by your authorized officer, drawn on us bearing the clause "Drawn under Letter of Credit No. 100294" accompanied by a written statement signed by the Chairperson of the Southold Planning Board to read as follows: "This drawing has been caused by the default of Laurel Links Country Club, Inc. or its failure to complete performance in order to receive a final certificate of occupancy for the facilities by the required date, of certain site improvements including landscaping, seeding, trailer removal, paving and drainage work as called out by resolution of the Southold Planning Board in the amount of up to $100,000.00." 1 · Founded 1910 · A BAN K SMIT H. / O . Southold Planning Board page 2- Janua~J 27,; )05 IRREVOCABLE STANDBY LETTER OF CREDIT NO. 100294, continued It is a condition of this irrevocable Letter of Credit that it shall be deemed automatically extended without amendment for additional one year pedods from the present, unless f ,try- five (45) days prior to any such date, we shall notify you in wdting by certified mail at th, above listed address that we elect not to consider this Letter of Credit renewed for any uch additional periods, This Letter of Credit sets forth in full the terms of our undertaking and such undertakin(, shall not in any way be modified, amended or amplified by reference to any document ~ r instrument referred to herein or in which this Letter of Credit relates and any such refeT ~nce shall not be deemed to incorporate herein by reference any document or instrument, Very truly yours, BANK O~/~ITHT~ and Chief Lending OffiCer 2 · Founded 1910 · Mailing Address: P.O. Box 1547 Riverhead, NY 11901 CHARLES R. CUDDY ATTORNEY AT LAW 445 GRIFF~NG AVENUE RIVERHEAD, NEW YORK January 13, 2003 TEL: (631) 369-8200 FAX: (631) 369-9O80 E-mail: charles.cuddy@verizon.net Southold Town Planning Board Town Hall Main Road Southold, NY 11971 Re: Laurel Links Ltd. Dear Board Members: Enclosed is the original Letter of Credit from the Bank of Smithtown in the reduced amount of $144,625.00. This Letter of Credit expires at January 6, 2004, and replaces the Letter of Credit, dated April 24, 2002. Please note that the Letter of Credit is automatically extended for additional one (1) year periods, unless forty-five (45) days prior to the expiration date, the Bank notifies the Planning Board in writing that it will not renew the Letter of Credit. Please return the old Letter of Credit to this office in the envelope provided. Thank you. CRC:ik Enclosures Very truly yours, Charles R. Cuddy January 7,2003 Town of Southold Main Road Southold, New York IRREVOCABLE STANDBY LETTER OF CREDIT NO. 100243 Issue Date: Expiration Date: January7,2003 January 6,2004 BENEFICIARY: Southold Planning Board Town of Southold Main Road Southold, New York 11971 SUBJECT: Performance Bond Final Map of Laurel Links Laurel, New York Dear Board Members: By order and for the account of our client, Laurel Links, Ltd., with a mailing address at Post Office Drawer A, Jamesport, New York 11947, and in accordance with the resolution of the Southold Town Board No. 840 of 2002, we hereby establish this Irrevocable Letter of Credit No. 100243, in your favor for an amount up to, but not exceeding, the aggregate sum of One Hundred and Forty-Four Thousand Six Hundred Twenty-five Dollars ($t44,625.00) effective immediately and expiring at our main office located at One East Main Street, Smithtown, New York on January 6, 2004. This letter of credit replaces our previously issued letter of credit number 100227, dated April 24, 2002. Funds under this Letter of Credit are available to you against your sight draft(s) signed by your authorized officer, drawn on us bearing the clause "Drawn under Letter of Credit No. 100243" accompanied by a written statement signed by the Chairperson of the Southold Planning Board to read as follows: "This drawing has been caused by the default of Laurel Links, Ltd. or its failure to complete performance by the required date, of certain site improvements for the final plat of the Map of Laurel Links as called out by resolution of the Southold Planning Board in the amount of $144,625.00." · Founded 1910, 1 'BANK SMITHTOWN Dedicated. To You. Southold Planning Board page 2- January7,2003 IRREVOCABLE STANDBY LETTER OF CREDIT NO. 100243, continued It is a condition of this Irrevocable Letter of Credit that it shall be deemed automatically extended without amendment for additional one year periods from the present, unless forty- five (45) days prior to any such date, we shall notify you in writing by certified mail at the above listed address that we elect not to consider this Letter of Credit renewed for any such additional periods. This Letter of Credit sets forth in full the terms of our undertaking and such undertaking shall not in any way be modified, amended or amplified by reference to any document or instrument referred to herein or in which this Letter of Credit relates and any such reference shall not be deemed to incorporate herein by reference any document or instrument. Very truly/~urs, BANK O~WN By: ERx~iceurttiv~c e President and Chief Lending Officer 2 · Founded 1910 · Dedicated. To You. Apd124, 2002 Town of Southold Main Road Southold, New York IRREVOCABLE STANDBY LETTER OF CREDIT NO. 100227 Issue Date: April 24, 2002 Expiration Date: November 6, 2002 BENEFICIARY: Southold Planning Board Town of Southold Main Road Southold, New York 11971 SUBJECT: Performance Bond Final Map of Laurel Links Laurel, New York Dear Board Members: By order and for the account of our client, Laurel Links, Ltd., with a mailing address at Post Office Drawer A, Jamesport, New York 11947, and in accordance with the resolution of the Southold Town Board No. 227 of 2002, we hereby establish this Irrevocable Letter of Credit No. 100227, in your favor for an amount up to, but not exceeding, the aggregate sum of Five Hundred Twenty-two Thousand Eight Hundred Twenty-five Dollars ($522,825.00) effective immediately and expiring at our main office located at One East Main Street, Smithtown, New York on November 6, 2002. This letter of credit replaces our previously issued letter of credit number 100214, dated November 6, 2001. Funds under this Letter of Credit are available to you against your sight draft(s) signed by your authorized officer, drawn on us bearing the clause "Drawn under Letter of Credit No. 100227" accompanied by a written statement signed by the Chairperson of the Southold Planning Board to read as follows: "This drawing has been caused by the default of Laurel Links, Ltd. or its failure to complete performance by the required date, of certain site improvements for the final plat of the Map of Laurel Links as called out by resolution of the Southold Planning Board in the amount of $522,825.00. · Founded 1910 Southold Planning Board page 2- April 24, 2002 It is a condition of this Irrevocable Letter of Credit that it shall be deemed automatically extended without amendment for additional one year periods from the present, unless forty- five (45) days prior to any such date, we shall notify you in writing by certified mail at the above listed address that we elect not to consider this Letter of Credit renewed for any such additional pedods. This Letter of Credit sets forth in full the terms of our undertaking and such undertaking shall not in any way be modified, amended or amplified by reference to any document or instrument referred to herein or in which this Letter of Credit relates and any such reference shall not be deemed to incorporate herein by reference any document or instrument. Very truly yours, BANK O/~MITHTOWN By: ~ Executi~,.._~ President and Chief Lending Officer 2 · Founded 1910 ° ELIZABETH A. NEVILLE TOWN CLERK REGISTRAR OF VITAL STATISTICS MARRIAGE OFFICER RECORDS MANAGEMENT OFFICER FREEDOM OF INFORMATION OFFICER Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (631) 765-6145 Telephone (631) 765-1800 southoldtown.northfork.net OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION NO. 840 OF 2002 WAS ADOPTED AT THE REGULAR MEETING OF THE SOUTHOLD TOWN BOARD ON DECEMBER 17, 2002: RESOLVED that the Town Board of the Town of Southold hereby authorizes the reduction of the oerformance bond for the maior subdivision of Laurel Links. Ltd. from $522,825.00 to $144~625.00, all in accordance with the recommendation of the Southold Town Planning Board, the Town Engineer, and the Superintendent of Highways, and subject to the approval of thc Town Attorney. Elizabeth A. Neville Southold Town Clerk ELIZABETH A. NEVILLE TOWN CLERK REGISTRAR OF VITAL STATISTICS MARRIAGE OFFICER RECORDS MANAGEMENT OFFICER FREEDOM OF INFORMATION OFFICER Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (631) 765-6145 Telephone (631) 765-1800 southoldtown.northfork.net OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION NO. 227 OF 2002 WAS ADOPTED AT THE REGULAR MEETING OF THE SOUTHOLD TOWN BOARD ON MARCH 26, 2002: RESOLVED that the Town Board of the Town of Southold hereby aooroves a reduction in the amount of the letter of credit no. 100214 drawn by the Bank of Smithtown on November 6, 2001, for imorovements to the Laurel Links, Ltd. maior subdivision located at Main Road Route 25, Mattituck, N.Y. described as SCTM # 1000-125-3-13, 15, 17; SCTM# 1000-125-4-21, 24.1; and SCTM # 1000-126-7-1, from $926,730.00 to $522,825.00, as recommended by the Southold Town Planning Board, Superintendent of Highways, and thc Town Engineer, all in accordance with the approval of thc Town Attorney. Elizabeth A. Neville Southold Town Clerk - Bank of Smithtown Founded 1910 ~ One East Main Street Smit~n, New York 11787-2823 Tel: (631) 360-9300 Fax: (631) 360-9410 IRREVOCABLE LETTER OF CREDIT NO. 100214 Issue Date: November 6, 2001 Expiration: November 6, 2002 Amount: $926,730.00 Beneficiary: Southold Planning Board Town of Southold Main Road Southold, New York 11971 Subject: Performance Bond Final Map of Laurel Links Laurel, New York Dear Board Members: By order and for the account of our client, Laurel Links, Ltd. with an address at P.O. Drawer A, Laurel, New York, we hereby establish this Irrevocable Letter of Credit No. 100214, in your favor for an amount up to, but not exceeding, the aggregate sum of Nine Hundred Twenty-Six Thousand Seven Hundred Thirty Dollars ($926,730.00) effective immediately and expiring at our main office located at One East Main Street, Smithtown, New York on November 6, 2002. Funds under this Letter of Credit are available to you against your sight draft(s) signed by your authorized officer, drawn on us beating the clause "Drawn under Credit No. 100214" accompanied by a written statement signed by the Chairperson of the Southold Planning Board to read as follows: "This drawing has been caused by the default of Laurel Links, Ltd or their failure to complete performance by the required date, of certain site improvements for the final plat of the Map of Laurel Links as called out by resolution of the Southold Planning Board in the amount of $926,730.00 It is a condition of this Irrevocable Letter of Credit that it shall be deemed automatically extended without amendment for additional one year periods from the present, unless forty-five (45) days prior to any such date, we shall notify you in writing by certified mail at the above listed address that we elect not to consider this Letter of Credit renewed for any such additional periods. Bank of Smithtown Founded 1910 This Letter of Credit sets forth in full the terms of our undertaking and such undertaking shall not in any way be modified, amended or amplified by referenced to any document or instrument referred to herein or in which this Letter of Credit is referred to or to which this Letter of Credit is referred to or to which this Letter of Credit relates and any such reference shall not be deemed to incorporate herein by reference any document or instrument. Except as otherwise expressly stated herein, this Irrevocable Letter of Credit is subject to the Uniform Customs and Practice for Commercial Documentary Credits (1993 Revision) I.C.C. Publication No. 500. Very truly yours, V - 840 RESOLUTION DECEMBER 17, 2002 RESOLVED that the Town Board of thc Town of Southold hereby authorizes the reduction of the oerformance bond for the major subdivision of Laurel Links. Ltd. from $522,825.00 to $144,625.00, all in accordance with the recommendation of the Southold Town Planning Board, the Town Engineer, and the Superintendem of Highways, and subject to the approval of the Town Attorney. Mailing Address: P.O. Box 1547 Riverhead, NY 11901 CHARLES R. CUDDY ATTORNEY AT LAW 445 GRI FFING AVENUE RIVERHEAD, NEW YORK November 26,2002 TEL: (631) 369-8~00 FAX: (631) ~-9~80 E-marl: charles.cudd¥@verizon.net Elizabeth A. Neville Town Clerk Southold Town Hall 53095 Route 25 P.O. Box 1179 Southold, NY 11971 Re: Peconic Landing at Southold, Inc. Laurel Links Country Club, Inc. RECEIVED I~0¥ 2 7 2002 Southold Town Clerk Dear Ms. Neville: Each of the above organizations has a performance bond. Each is the subject of a proposed reduction, which is substantial. The money, which will be released upon the reduction of the bond is critical to the funding of each project. In fact continuing payment of development costs for each project is based upon the release and reduction of the bond. Town Planner, Valerie Scopaz has written a letter indicating that in each instance the Planning Board, at its meeting of December 16, will recommend the bond reductions. Copies of these letters are enclosed. Would you please confirm that Resolutions will appear on December 17, 2002 of the Town Board calendar to effect the recommended bond reductions. Thank you. CRC:ik Enclosures Very truly yours, Mailing Address: EO. Box 1547 Riverhead, NY 11901 CHARLES R. CUDDY ATTORNEY AT LAW 445 GR1FFING AVENUE RIVERHEAD, NEW YORK November 22, 2002 TEL: (631) 369-~00 FAX: (6~1) 369-9~0 E-malh charles.cuddy@verizon.net RECEIVED Valerie Scopaz, AICP Town Planner Town Hall 53095 Main Road Southold, NY 11971 DEC 2 ,~., Re: Performance Bond Reduction for Laurel Links Country Club, Inc. Southold Town Clerk Dear Ms. Scopaz: According to your request, enclosed is a letter from Robert J. Anrig, Executive Vice President and Chief Lending Officer acknowledging that the Letter of Credit has being extended for Laurel Links Country Club, Inc. to November 6, 2003. CRC:ik Enclosures Very truly yours, NOV S 5 2~02 ~ Dedicated. To You. Robert J. Anrig Execulive Vice President and Chief Lending Officer One East Main Street Post O~ce Box 456 Smithtown, New York 11787-2823 main office: 631-360-9300 directdiah 631-360-9351 direct fax: 631-265-2384 November20,2002 Mr. ChadesR. Cuddy, Esq. 445 Gdffing Avenue Riverhead, NY 11901 Re: Laurel Links Country Club, Inc. Dear Mr. Cuddy, We am in receipt of your letter dated November 14, 2002. Please be advised that the letter of credit [in accordance with the last paragraph of the first page] automatically renews for one year periods unless cancelled by notice by the bank. Accordingly, the subject's letter of credit was renewed and now matures on November 6, 2003. When the requirements of the Town are reduced, it will be noted on our records. The line of credit for the club has a scheduled maturity date of May 18, 2002. Accordingly, no action for the construction line is required at this time either. We would appreciate a current status report on the facility as to the number of lots currently sold, in contract of sale with sale prices and available for sale with asking prices. If a closing schedule of the lots under contract is available, it would be appreciated. If I may be of any further assistance, please feel free to call me directly at 631-360-9351. · Founded 1910. December 17, 2002 Elizabeth A. Neville, Town Clerk Town of Southold P.O. Box 1179 Southold, NY 11971 RE: Laurel Links, Ltd. SCTM# 1000-125-3-13, 15, 17 & SCTM# 1000-125-4-21,24.1 & SCTM# 1000-126-7-1 Dear Ms, Neville: The following took place at a meeting of the Southold Town Planning Board on Monday, December 16, 2002: RESOLVED, to adopt the revised Bond Estimate in the amount of $144,625.00, dated October 30, 2002, for Laurel Links, Ltd. as determined by the Town Engineer, and recommend same to the Town Board,The revised Bond Estimate indicates the percentage of construction items completed to date and reflects the estimated cost of work remaining. Please contact this office if you have any questions regarding the above. Very truly yours; Bennett Orlowski, Jr. Chairman enc. VALERIE SCOPAZ, AICP TOWN PLANNER P.O. Box 1179 Town Hall, 53095 Main Road Southold, New York 11971~0959 Telephone (631) 765-1938 Fax (631) 765-3136 Valerie. Scop azC~town.southold.ny.us OFFICE OF THE TOWN PLANNER TOWN OF SOUTHOLD November 15, 2002 Charles Cuddy, Esq. 445 Grifflng Avenue Riverhead, New York, 11901 RE: Performance Bond Reduction for Laurel Links, Ltd. SCTM#1000-125-3-13,15,17; 1000-125-4-21,24.1; and 1000-126-7-1 Dear Mr. Cuddy: This is in response to your client's request for a reduction in the performance bond for the above-referenced project. The Planning Board has agreed to accept Mr. Richter's recommendation. If the Highway Superintendent agrees, this proposed reduction will be sent to the Town Board at our next public meeting in December. A copy of Mr. Richter's recommendation is attached for your convenience. On another note, the Letter of Credit from the Bank of Smithtown expired on November 6th. Please arrange for an extension of that Letter for the reduced bond amount. Very truly yours, Valerie Scopaz, AICP Town Planner encl. CC: James Richter, Town Engineer Peter Harris, Superintendent of Highways Elizabeth Neville, Town Clerk JOSHUA Y. HORTON SUPERVISOR TOWN HALL - 53095 MAIN ROAD Fax. (516)-765- 1366 JAMES A. RICHTER, R.A. ENGINEER TOWN OF SOUTHOLD, NEW YORK 11971 Te1.(516)-765- 1560 OFFICE OF THE ENGINEER TOWN OF SOUTHOLD October 30, 2002 Bennett Orlowski, Jr. Chairman - Planning Board Town Hall, 53095 Main Road Southold, NeW York 11971 Re: LAUREL LINKS - Bond Reduction Request SCTM #: 1000 - 125- 03 - 13 & Others Dear Mr. Orlowski: As per your request, I have reviewed the current bond for the above referenced project. The Engineers estimate of work completed to date as submitted bythe developeris considered accurate. I have enclosed a copy of this revised estimate for your use and recommend a reduction of the Bond. The New Bond amount should be $ 144,625.00. If you have any questions concerning this report, please contact my office. CC: Peter Harris (Superintendent of Highways) flnes A. Rich[er, R.A. $otRhold Town PLANNING BOARD MEMBERS BENNETT ORLOWSKI, JR. Chairman RICHARD CAGGIANO WILLIAM J. CREMERS KENNETH L. EDWARDS MARTIN SIDOR P.O. Box 1179 Town Hall, 53095 State Route 25 Southold, New York 11971-0959 Telephone (631) 765-1938 Fax (631) 765-3136 December 17, 2002 PLANNING BOARD OFFICE TOWN OF SOUTHOLD Elizabeth A. Neville, Town Clerk Town of Southold P.O. Box 1179 Southold, NY 11971 RE: Laurel Links, Ltd. SCTM# 1000-125-3-13, 15, 17 & SCTM# 1000-125-4-21, 24.1 & SCTM# 1000-126-7-1 Dear Ms. Neville: The following took place at a meeting of the Southold Town Planning Board on Monday, December 16, 2002: RESOLVED, to adopt the revised Bond Estimate in the amount of $144,625.00, dated October 30, 2002, for Laurel Links, Ltd. as determined by the Town Engineer, and recommend same to the Town Board. The revised Bond Estimate indicates the percentage of construction items completed to date and reflects the estimated cost of work remaining. Please contact this office if you have any questions regarding the above. Very truly yours, Bennett Orlowski, Chairman enc. PLANNING BOARD MEMBERS BENNETT ORLOWSKI, JR. Chairman RICHARD CAGGIANO WILLIAM J. CREMERS KENNETH L. EDWARDS MARTIN SIDOR P.O. Box 1179 Town Hall, 53095 State Route 25 Southold, New York 11971-0959 Telephone (631) 765-1938 Fax (631) 765-3136 December 17, 2002 PLANNING BOARD OFFICE TOWN OF SOUTHOLD Chades Cuddy, Esq. P.O. Box 1547 Riverhead, NY 11901 RE: Laurel Links, Ltd. SCTM# 1000-125-3-13, 15, 17 & SCTM# 1000-125-4-21, 24.1 & SCTM# 1000-126-7-1 Dear Mr. Cuddy: The following took place at a meeting of the Southold Town Planning Board on Monday, December 16, 2002: RESOLVED, to adopt the revised Bond Estimate in the amount of $144,625.00, dated October 30, 2002, for Laurel Links, Ltd. as determined by the Town Engineer, and recommend same to the Town Board. The revised Bond Estimate indicates the percentage of construction items completed to date and reflects the estimated cost of work remaining. Please contact this office if you have any questions regarding the above. Very truly yours, Bennett Orlowski, Chairman eric. JOSHUA Y. HORTON SUPERVISOR TOWN HALL - 53095 MAllq ROAD Fax (516)-765-1366 JAMES A. RICHTER, R.A. ENGINEER TOWN OF SOUTHOLD, NI~W YORK 11971 Te1.(516)-765-1560 OFFICE OF THE ENGINEER TOWN OF SOUTHOLD October 30, 2002 Bennett Orlowski, Jr. Chairman - Planning Board Town Hall, 53095 Main Road Southold, New York 11971 Re: LAUREL LINKS - Bond Reduction Request SCTM #: 1000 - 125 - 03 - 13 & Others Dear Mr. Orlowski: As per your request, I have reviewed the current bond for the above referenced project. The Engineers estimate of work completed to date as submitted by the developer is considered accurate. I have enclosed a copy of this revised estimate for your use and recommend a reduction of the Bond. The New Bond amount should be $ 144,625.00. If you have any questions concerning this report, please contact my office. CC: Peter Harris (Superintendent of Highways) 8outhold Town -j ' "P~kNNING BOARD MEMBERS JERILY~T B. WOODHOUSE Chair KENNETH L. EDWARDS MARTIN H. SIDOR GEORGE D. SOLOMON JOSEPH L. TOWNSEND PLANNING BOARD OFFICE TOWN OF SOUTHOLD MAILING ADDRESS: P.O. Box 1179 Southold, NY 11971 OFFICE LOCATION: Town Hall Annex 54375 State Route 25 (cor. Main Rd. & Youngs Ave.) Southold, NY Telephone: 631 765-1938 Fax: 631 765-3136 MEMORANDUM To: Elizabeth Neville, Town Clerk From: Jerilyn B. Woodhous Pe~:~ning Board Chairperson Date: February 14, 2006 Re: Laurel Links Country Club Located on the s/s/o SR 25 in Laurel, NY SCTM#'s 1000-125-3-13 & 125-4-24.23 Zone: AC The Southold Town Planning Board, at a meeting held on Monday, February 13, 2006, adopted the following resolution: WHEREAS, the applicant has an outstanding Letter of Credit No. 100294 in the amount of $100,000, as issued by the Bank of Smithtown, as a performance guarantee for the site plan known as Laurel Links Country Club; and WHEREAS, James Richter, the Town Engineer, performed a final inspection of the required improvements and has issued a letter of completion dated July 28, 2005; be it therefore RESOLVED, that the Southold Town Planning Board release the remaining $100,000 Letter of Credit No. 100294 issued by the Bank of Smithtown as a performance guarantee for improvements, and recommends same to the Town Board. If you have any questions regarding this, please contact this office.