Loading...
HomeMy WebLinkAboutJames Creek Landing r B ELIiZABETH A. NEVILLE,MMC may® �,� Town Hall,53095 Main Road TOWN CLERK P.O.Box 1179 CA Southold,New York 11971 REGISTRAR OF VITAL STATISTICS 0 ® Fax(631)765-6145 MARRIAGE OFFICER �� �a0�` Telephone(631)765-1800 RECORDS MANAGEMENT OFFICER www.southoldtownny.gov FREEDOM OF INFORMATION OFFICER OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD December 14, 2016 Mr. Alan Cardinale PO Box 77 Mattituck,NY 11952 Dear Mr. Cardinale: Congratulations. At the regular Town Board meeting held on December 6, 2016, the Town Board accepted the Southold Town Planning Board's recommended to accept the Irrevocable Letter of Credit in the amount of$103,540.00 for the James Creek Landing Subdivision. A certified copy of the resolution is enclosed. The Irrevocable Letter of Credit has been received by the Town Clerk's office. If you have any questions please contact the Planning Department. Very truly yours, m Lynda M Rudder Deputy Town Clerk Ens. cc: Planning Department Southold Town Board - Letter Board Meeting of December 6, 2016 RESOLUTION 2016-1068 Item# 5.17 .ADOPTED DOC ID: 12542 THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION NO. 2016-1068 WAS ADOPTED AT THE REGULAR MEETING OF THE SOUTHOLD TOWN BOARD ON DECEMBER 6, 2016: RESOLVED that the Town Board of the Town of Southold hereby accepts the Bridgehampton National Bank Irrevocable Letter of Credit# 17000503 in the amount of$103,540.00 for the proposed Standard Subdivision entitled"James Creek Landing", SCTM#1000-122-3-1.4, located at Main Road, approximately 280 feet South of New Suffolk Avenue, Mattituck, as recommended by the Southold Town Planning Board, subject to the approval of the Town Attorney. Elizabeth A. Neville Southold Town Clerk RESULT: ADOPTED [UNANIMOUS] MOVER: Robert Ghosio, Councilman SECONDER:Louisa P. Evans, Justice AYES: Dinizio Jr, Ruland, Doherty, Ghosio, Evans, Russell Generated December 7, 2016 Page 30 BNB September 30,2016 Town of Southold 53095 Main Road Southold, NY 11971 Re: Performance Bond Estimate Approval: Proposed Standard Subdivision James Creek Landing Subdivision Located on the west side of Main Road,approximately 280' south of New Suffolk Avenue,in Mattituck SCTM#'1000-122-3-1.4 Zoning District:R-80B Dear Sir; By order of our client Alan A.Cardinale, 10095 Main Road,Unit#4 Mattituck,New York 11952,we hereby establish our Irrevocable Letter of Credit No. 170000503in your favor up to an aggregate amount of One hundred and Three Thousand Five Hundred and Forty U.S. Dollars ($103,540.00)needed to subdivide a split-zoned parcel into five lots where Lot 1 =2 acres inclusive of a 1-acre Open Space Easement Area;Lot 2=2 acres inclusive of a 1.2 acres Open Space Easement Area;Lot 3=5.5 acres inclusive of a 1.3 acres Open Space Easement Area;and Lot 4=3.7 acres inclusive of a 1.7 acres Open Space Easement Area in the R-80 Zoning District.Lot 5= 1.8 acres inclusive of 0.3 acres of Open Space Easement Area and is located in the B Zoning District. This Letter of Credit shall be automatically r e n e w e d unless ninety (90) days written notice is given to the Town Clerk, Town Planning Board and Town Attorney's Office (via certified mail- return receipt)that The Bridgehampton National Bank will not renew the Letter of Credit. The Letter of Credit shall run for a minimum p e r i o d o f one year from the date of issue with automatic yearly renewal until project is completed. This Letter of Credit must be presented for payment by the beneficiary at our counters at 4 West Second Street, Riverhead,New York,no later than September 30,2017 and all drafts drawn there under must be negotiated on or before that date. Each draft must state it is"Drawn under Letter of Credit No. 170000503 of The Bridgehampton National Bank dated September 30,2016 and the amount endorsed on this Letter of Credit." Except as far as otherwise expressly stated herein, this Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision) International Chamber of Commerce Publications No.500. The Brid ampton National/Bank Deborah Orlowski Vice President MAILING ADDRESS: PLANNONALD ING BOARD MEMBERS ®�*0� SOUlisi�l So tx 1179 hold,eNY 11971 J. O Chair OFFICE LOCATION: WILLIAM J.CREMERS Town Hall Annex PIERCE RAFFERTY O a0� 54375 State Route 25 JAMES H.RICH III Ol� (cor. Main Rd. &Youngs Ave.) MARTIN H.SIDOR cou ,� Southold, NY Telephone: 631 765-1938 www.southoldtownny.gov PLANNING BOARD OFFICE TOWN OF SOUTHOLD RECEIVED November 9, 2016 NOV 1 4 2016 Southold Town Clerk Mr. Alan A. Cardinale P.O. Box 77 Mattituck, NY 11952 Re: Performance Guarantee of the Proposed Standard Subdivision James Creek Landing Located on the w/s/o Main Rd., approx. 280' s/o New Suffolk Ave., Mattituck SCTM#1000-122-3-1.4 Zoning Districts: R-80 & B Dear Mr. Cardinale: The Southold Town Planning Board, at a meeting held on Monday, November 7, 2016, adopted the following resolution: WHEREAS, this proposal is to subdivide a split-zoned parcel into five lots where Lot 1 = 89,257 sq. ft. inclusive of a 44,604 sq. ft. Open Space Easement Area; Lot 2 = 90,713 sq. ft. inclusive of a 50,351 sq. ft. Open Space Easement Area; Lot 3 = 237,667 sq. ft. inclusive of a 57,878 sq. ft. Open Space Easement Area; and Lot 4 = 159,987 sq. ft. inclusive of a 75,152 sq. ft. Open Space Easement Area in the R-80 Zoning District. Lot 5 = 77,747 sq. ft. inclusive of 14,596 sq. ft. of Open Space Easement Area and is located in the B Zoning District; and WHEREAS, on January 12, 2016, the Southold Town Board approved the Bond Estimate in the amount of$103,540.00; be it therefore RESOLVED, that the Southold Town Planning Board hereby accepts Bridgehampton National Bank Irrevocable Letter of Credit No 17000503 in the amount of ------ ---$103;540.00 and-recommends-the-same to the--Southold-Town-Board:-- -- James Creek Landing Page 2 November 9, 2016 If you have any questions regarding the above, please contact this office at 631-765- 1938. Very truly yours, I,—�--AL)Oj Donald J. Wilcenski Chairman cc: Elizabeth A. Neville, Town Clerk 0,051 BNB September 30,2016 Town of Southold 53095 Main Road Southold,NY 11971 Re: Performance Bond Estimate Approval:Proposed Standard Subdivision James Creek Landing Subdivision Located on the west side of Main Road,approximately 280' south of New Suffolk Avenue,in Mattituck SCTM# 1000-122-3-1.4 Zoning District:R-80B Dear Sir; By order of our client Alan A.Cardinale, 10095 Main Road,Unit#4 Mattituck,New York 11952,we hereby establish our Irrevocable Letter of Credit No. 170000503in your favor up to an aggregate amount of One hundred and Three Thousand Five Hundred and Forty U.S. Dollars ($103,540.00)needed to subdivide a split-zoned parcel into five lots where Lot 1 =2 acres inclusive of a 1-acre Open Space Easement Area;Lot 2=2 acres inclusive of a 1.2 acres Open Space Easement Area;Lot 3=5.5 acres inclusive of a 1.3 acres Open Space Easement Area; and Lot 4=3.7 acres inclusive of a 1.7 acres Open Space Easement Area in the R-80 Zoning District.Lot 5= 1.8 acres inclusive of 0.3 acres of Open Space Easement Area and is located in the B Zoning District. This Letter of Credit shall be automatically r e n e w e d unless ninety (90) days written notice is given to the Town Clerk, Town Planning Board and Town Attorney's Office (via certified mail- return receipt)that The Bridgehampton National Bank will not renew the Letter of Credit. The Letter of Credit shall run for a minimum p e r i o d o f one year from the date of issue with automatic yearly renewal until project is completed. This Letter of Credit must be presented for payment by the beneficiary at our counters at 4 West Second Street, Riverhead,New York,no later than September 30,2017 and all drafts drawn there under must be negotiated on or before that date. Each draft must state it is "Drawn under Letter of Credit No. 170000503 of The Bridgehampton National Bank dated September 30,2016 and the amount endorsed on this Letter of Credit." Except as far as otherwise expressly stated herein, this Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision) International Chamber of Commerce Publications No.500. The rid ampton National Ba�nk Deborah Orlowski Vice President PLANNING BOARD MEMBERS DONALD J. WILCENSKI Chair WILLIAM J. CREMERS PIERCE RAFFERTY JAMES H. RICH III MARTIN H. SIDOR January 13, 2015 Mr. Alan Cardinale P.O. Box 77 Mattituck, NY 11952 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 www. s o u th of d t ownny. gov RECEIVED Southold Town Clerk Re: Performance Bond Estimate Approval: Proposed Standard Subdivision James Creek Landing Located on the west side of Main Road, approximately 280' south of New Suffolk Avenue, in Mattituck SCTM#1000-122-3-1.4 Zoning District: R-80/13 Dear Mr. Cardinale: The Southold Town Planning Board adopted the following resolution at a meeting held on Monday, January 12, 2015: WHEREAS, this proposal is to subdivide a split -zoned parcel into five lots where Lot 1 = 2 acres inclusive of a 1 acre Open Space Easement Area; Lot 2 = 2 acres inclusive of a 1.2 acres Open Space Easement Area; Lot 3 = 5.5 acres inclusive of a 1.3 acres Open Space Easement Area; and Lot 4 = 3.7 acres inclusive of a 1.7 acres Open Space Easement Area in the R-80 Zoning District. Lot 5 = 1.8 acres inclusive of 0.3 acres of Open Space Easement Area and is located in the B Zoning District; and WHEREAS, on November 20, 2014, the Office of the Town Engineer submitted a Performance Bond Estimate for James Creek Landing in the amount of $118,540.00; and WHEREAS, on December 12, 2014, the Southold Town Highway Department approved the Performance Bond Estimate for James Creek Landing, dated November 20, 2014; and WHEREAS, on December 16, 2014, the Southold Town Planning Board accepted the Performance Bond Estimate for James Creek Landing in the amount of $118,540.00; and James Creek Landing P a c_e jL2 January 13, 2015 WHEREAS, on December 18, 2014, the Office of the Town Engineer submitted a revised Performance Bond Estimate in the amount of $103,540.00; and WHEREAS, on January 12, 2015, the Southold Town Planning Board reviewed and accepted the revised Performance Bond Estimate; be it therefore RESOLVED, that the Southold Town Planning Board hereby rescinds the acceptance of the Performance Bond Estimate for James Creek Landing in the amount of $118,540.00; and be it further RESOLVED, that the Southold Town Planning Board, in accordance with the Office of the Town Engineer's recommendation, hereby accepts the revised Performance Bond Estimate for James Creek Landing in the amount to $103,540.00 and recommends the same to the Southold Town Board. If you have any questions regarding the information contained in this resolution, please contact the Planning Board Office. Very truly yours, Donald J. Wilcenski Chairman Encl. cc: Elizabeth A. Neville, Town Clerk Engineering Office SCOTT A. RUSSELL SUPERVISOR TOWN HALL - 53095 MAIN ROAD Tel. (631) - 765 - 1560 Nt_l(._'H \1 I ('011 iti'u 1IA\'.")(Wj[It).( i? N)_J:" .. JAMES A. RICHTER, R.A. MICHAEL M. COLLINS, P.E. TOWN OF SOUTHOLD, NEW YORK 11971 Fax (631) 765 9015 . t. ... OFFICE OF THE ENGINEER TOWN OF SOUTHOLD BOND ESTIMATE JAMES CREEK LANDING SUBDIVISION State Route 25, Mattituck, New York, TOWN OF SOUTHOLD SCTM # 1000-122-03-1.4 DATE April 15, 2014 ITEM QUANTITY DESCRIPTION UNIT PRICE AMOUNT 1. JOB EROSION & SEDIMENT CONTROL - $ 2,500.00 2. 0.8 ACRE CLEARING & GRUBBING $ 4,000.00 3,200.00 3. 560 C.Y. ROUGH GRADING / SPIL STABALIZATION - UNCLASSIFIED EXCAVATION 5.00 2,800.00 4. 440 L.F. CONCRETE CURBING 16.00 7,040.00 DRAINAGE 5. 2 EACH 8' DIAMETER PRECAST CONCRETE (4' Deep) LEACHING POOL (With Cast Iron Grate & Frame) 3,000.00 6,000.00 6. 10 EACH 8' DIAMETER PRECAST CONCRETE (4' Deep) LEACHING POOL 2,500.00 25,000.00 7. 100 L.F. 15" DIAMETER DRAINAGE PIPE 25.00 2,500.00 8. 1,700 S.Y. FINE GRADING 1.50 2,550.00 SURFACING 9. 190 C.Y. 3/4" STONE BLEND or RCA BASE (4" Thick) 50.00 9,500.00 10. 120 TONS ASPHALT BINDER COURSE - (2 'h" Thick) 90.00 10,800.00 11. 80 TONS ASPHALT WEARING COURSE - (1 ''/z" Thick) 90.00 7,200.00 12. 1 EACH STREET LIGHTS 2,000.00 2,000.00 13. 16 EACH CONCRETE SURVEY MONUMENTS 100.00 1,600.00 14. 1 EACH AS -BUILT SURVEY - 6,000.00 15. 1,600 S.Y. TOPSOIL & SEED 2.50 4,000.00 16. 3 EACH STREET SIGNS 200.00 600.00 17. 31 EACH STREET TREES 250.00 7,750.00 18. JOB MAINTENANCE & PROTECTION OF TRAFFIC 2,500.00 BOND ESTIMATE TOTAL $ 103,540.00 6% ADMINISTRATION FEE $ 6,212.40 PLANNING BOARD MEMBERS DONALD J. WILCENSKI Chair WILLIAM J. CREMERS PIERCE RAFFERTY JAMES H. RICH III MARTIN H. SIDOR December 16, 2014 ,oF so�ryo� h �y00UNTY,� 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 www. southoldtownny. gov R E C E I V Mr. Alan Cardinale Southold Town Cl,-rk P.O. Box 77 Mattituck, NY 11952 Re: Draft Bond Estimate Approval: Proposed Standard Subdivision James Creek Landing Located on the west side of Main Road, approximately 280' south of New Suffolk Avenue, in Mattituck SCTM#1000-122-3-1.4 Zoning District: R -80/B Dear Mr. Cardinale: The Southold Town Planning Board adopted the following resolution at a meeting held on Monday, December 15, 2014: WHEREAS, this proposal is to subdivide a split -zoned parcel into five lots where Lot 1 = 2 acres inclusive of a 1 acre Open Space Easement Area; Lot 2 = 2 acres inclusive of a 1.2 acres Open Space Easement Area; Lot 3 = 5.5 acres inclusive of a 1.3 acres Open Space Easement Area; and Lot 4 = 3.7 acres inclusive of a 1.7 acres Open Space Easement Area in the R-80 Zoning District. Lot 5 = 1.8 acres inclusive of 0.3 acres of Open Space Easement Area and is located in the B Zoning District; and WHEREAS, on November 20, 2014, the Office of the Town Engineer submitted a Draft Bond Estimate for James Creek Landing in the amount of $118,540.00; and WHEREAS on December 12, 2014, the Southold Town Highway Department approved the Draft Bond Estimate for James Creek Landing, dated November 20, 2014; be it therefore RESOLVED, that the Southold Town Planning Board hereby accepts the Draft Bond Estimate for James Creek Landing in the amount of $118,540.00 and recommends the same to the Southold Town Board. ames Creek Landing P ag e 12 December 15, 2014 If you have any questions regarding the information contained in this resolution, please contact the Planning Board Office. Very truly yours, r '- ot-aj-0 Donald J. Ncenski Chairman Encl. cc: Elizabeth A. Neville, Town Clerk SCOTT A. RUSSELL SUPERVISOR TOWN HALL - 53095 MAIN ROAD Tel. (63t)-765-1560 N•11CHAEL.0?LL[NSui:TOW�.SOI p�ExcO JAMES A. RICHTER, R.A. MICHAEL M. COLLINS, P.E. TOWN OF SOUTHOLD, NEW YORK 11971 0 Fax. (631)-765-9015 AJAMIF.R[CHTF -,- :T C)WN.S01JTH01-D.NY.[1S 41 -4 OFFICE OF THE ENGINEER TOWN OF SOUTHOLD NOV -2 012014 BOND ESTIMATE Southold Town JAMES CREEK LANDING SUBIIIVISION Planning Board State Route 25, Mattituck, New York, TOWN CCl� SOUTHOLD SCTM * 1000-122-03-1.4 DATE 6% ADMINISTRATION FEE $ 7,112.40 April 15, 2014 f ITEM QUANTITY DESCRIPTION UNIT PRICE AMOUNT 1. JOB EROSION & SEDIMENT CONTROL - $ 2,500.00 2. 0.8 ACRE CLEARING & GRUBBING $ 4,000.00 3,200.00 3. 560 C.Y. ROUGH GRADING / SPIL STABALIZATION - UNCLASSIFiED EXCAVATION 5.00 2,800.00 4. 440 L.F. CONCRETE CURBING 16.00 7,040.00 DRAINAGE 5. 2 EACH 8' DIAMETER PRECAST CONCRETE (4' Deep) LEACHING POOL (With Cast Iron Grate & Frame) 3,000.00 6,000.00 6. 10 EACH 8' DIAMETER PRECAST CONCRETE (4' Deep) LEACHING POOL 2,500.00 25,Q00.00 7. 100 L.F. 15" DIAMETER DRAINAGE PIPE 21.00 2,500.00.50 8. 1,700 S.Y. FINE GRADING 1 2,550.00 SURFACING 9. 190 C.Y. 3/4" STONE BLEND or RCA BASE (4" Thick) 50.00 9,500.00 10. 120 TONS ASPHALT BINDER COURSE - (2 W" Thick) 90.00 10,800.00 11. 80 TONS ASPHALT WEARING COURSE - (1 %" Thick) 90.00 7,200.00 12. 1 EACH STREET LIGHTS 2,000.00 2,000.00 13. 16 EACH CONCRETE SURVEY MONUMENTS 100.00 1,600.00 14. 1 EACH AS -BUILT SURVEY - 6,000.00 15. 1,600 S.Y. TOPSOIL & SEED 2.50 4,000.00 600.00 16. 3 EACH STREET SIGNS 200.00 17. 31 EACH STREET TREES 250.00 7,750.00 18.. 1 EACH FIRE WELL 15,000.00 15,000.00 19.1 JOB MAINTENANCE & 2,500-00 PROTECTION OF TRAFFIC - BOND ESTIMATE TOTAL $118,540.00 6% ADMINISTRATION FEE $ 7,112.40 V, Sabatino, Al, ndra K_ From: Orlando, Vincent Sent: Friday, December 12, 2014 9:49 AM To: Lanza, Heather Cc: Sabatino, Alyxandra K. Subject: RE: Bond Estimate reviews needed today! Good Morning Heather, After reviewing both site drainage plans for James Creek & Colony Pond, the associated Bond Estimates seem to be in order and appropriate. CSVinVFoEC71 cent Orlando Town of Southold 2 2014 Superintendent of Highways Office: 631-765-3140 vincent orlando -town southold.ny.us CONFIDENTIALITY NOTICE: This communication with its contents may contain confidential and/or legally privileged information. It is solely for the use of the intended recipient(s). Unauthorized interception, review, use or disclosure is prohibited and may violate applicable laws including the Electronic Communications Privacy Act. If you are not the intended recipient, please contact the sender and destroy all copies of the communication. From: Lanza, Heather Sent: Friday, December 12, 2014 8:41 AM To: Orlando, Vincent Subject: Bond Estimate reviews needed today! Importance: High V inny, We need your sign -off on the bond estimates today for Colony Pond and James Creek Subdivisions. Jamie has already reviewed them and OK'd them, but we need your sign -off. It can be a simple email. We have to get this in today so the Planning Board can approve them this month. Otherwise we'll have to tell the applicants they will be waiting another month for this step to be completed. We appreciate your help. Heather Heather Lanza, ,AICP Town Planning Director THE SUFFOLK COUNTY NATIONAL BANK © 1149 OLD COUNTRY ROAD•P.D. BOX 9000•RIVERHEAD, NEWYORK 11901 -9000•(516)727.2701 -FAX (516)727-5796 July 2, 1998 Town Board for the Town of Southold Southold, New York Re: Performance Bond - $78,780.00 Alan Cardinale Minor Subdivision SCTM 1000-122-3-1.4 Letter of Credit No. 980722 Dear Board Member: By order of Alan Cardinale, and for the account of same, we hereby establish this Irrevocable Letter of Credit in your favor up to an aggregate amount of Seventy Eight Thousand Seven Hundred Eighty and 00/100 ($78,780.00) U.S Dollars available by your drafts at sight accompanied by this original letter of credit. A copy of a resolution of the Town Board, reportedly certified by the Town Board, which indicates: "Alan Cardinale has failed to complete all of the improvements in connection with the subdivision map entitled "Alan Cardinale Subdivision" heretofore approved by the Planning Board of the Town of Southold, and that as a result of said failure, there is due and owing an amount equal to the face amount of our draft. Said resolution should also indicate that the amount drawn thereunder is for the sole purpose of completing those items of improvement which were to have been completed by Alan Cardinale." This Letter of Credit remains in force and must be presented for payment at our counters no later them July 22, 1999. All drafts drawn hereunder must be negotiated on or before that date. +. THE SUFFOLK COUNTY NATIONAL BANK © Page 2 Letter of Credit No. 980722 Each draft must state that it is "Drawn under Letter of Credit of The Suffolk County National Bank No. 980722 dated July 2, 1998". We hereby agree with the drawers, endorsers and bona fide holders of drafts drawn under and in compliance with the terms of this letter of credit that such drafts will be duly honored upon presentation to the drawee. Except as far as otherwise expressly stated herein, the Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision) International Chamber of Commerce Publications No. 500. This Letter of Credit supersedes our Letter of Credit No. 970722 dated June 16, 1997. The Suffolk County National Bank Peter M. Almasy� Vice President k THE SUFFOLK COUNTY NATIONAL BANK 6 WEST SECOND STREET • P.O. BOX 9000 • RIVERHEAD, NEW YORK 11901-9000 • (516) 727.2700 • FAX (516) 727-3210 June 16, 1997 Town Board for the Town of Southold Southold, New York Re: Performance Bond - $78,780.00 Alan Cardinale Minor Subdivision SCTM 1000-122-3-1.4 Letter of Credit No. 970722 Dear Board Member: By order of Alan Cardinale, and for the account of same, we hereby establish this Irrevocable Letter of Credit in your favor up to an aggregate amount of Seventy Eight Thousand Seven Hundred Eight and 00/100 ($78,780.00) U.S.Dollars available by your drafts at sight accompanied by this original letter of credit.. A copy of a resolution of the Town Board, reportedly certified by the Town Board, which indicates: "Alan Cardinale has failed to complete all of the improvements in connection with the subdivision map entitled "Alan Cardinale Subdivision" heretofore approved by the Planning Board of the Town of Southold, and that as a result of said failure, there is due and owing an amount equal to the face amount of our draft. Said resolution should also indicate that the amount drawn hereunder is for the sole purpose of completing those items of improvement which were to have been completed by Alan Cardinale." This Letter of Credit remains in force and must be presented for payment at our counters no later than July 22, 1998. All drafts drawn hereunder must be negotiated on or before that date. Each draft must state that it "Drawn Under Letter of Credit of The Suffolk County National Bank" No. 970722 dated June 16, 1997 and this amount endorsed on this letter of credit. We hereby agree with the drawers, endorsers and bona fide holders of drafts drawn under and in compliance with the terms of this letter of credit that such drafts will be duly honored upon presentation to the drawee. Except as far as otherwise expressly stated herein, the Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision) International Chamber of Commerce Publications No. 500. THE SUFFOLK COUNTY NATIONAL BANK D ` Except as otherwise expressly stated herein, this letter of credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision) International Chamber of Commerce Publication No. 500, This Letter of Credit supersedes our Letter of Credit #960722 dated June 20, 1996. The Suffolk County National Bank &� Peter M. Almasy Vice President 1/ The Suffolk County National Bank PMA -mf 2 THE SUFFOLK COUNTY NATIONAL BANK 0 6 WEST SECOND STREET • P.O. BOX 9000 • RIVERHEAD, NEW YORK 11901-9000 • (516) 727-2700 • FAX (516) 727-3210 June 20, 1996 Town Board Town of Southold Southold, New York 11971 Re: Performance Bond - $ 78,780.00 Alan Cardinale Minor Subdivision SCTM 1000-122-3-1.4 Letter of Credit No. 960722 Dear Board Member: By order of Alan Cardinale, and for the account of same, we hereby establish this irrevocable letter of credit in your favor up to an aggregate amount of Seventy Eight Thousand Seven Hundred Eighty and 00/100 ($78,780.00) U.S. Dollars available by your drafts at sight accompanied by this original letter of credit. A copy of a resolution of the Town Board, reportedly certified by the Town Clerk, which indicates: - "Alan Cardinale has failed to complete all of the improvements in connection with the subdivision map entitled "Alan Cardinale Subdivision" heretofore approved by the Planning Board of the Town of Southold, and that as a result of said failure, there is due and owing an amount equal to the face amount of our draft. Said resolution should also indicate that the amount drawn hereunder is for the sole purpose of completing those items of improvement which were to have been completed by Alan Cardinale." This Letter of Credit remains in force and must be presented for payment at our counters no later then July 22, 1997. All drafts drawn hereunder must be negotiated on or before that date. Each draft must state that it "Drawn Under Letter of Credit of the Suffolk County National Bank" No. 960722, dated June 20, 1996 and this amount endorsed on this letter of credit. We hereby agree with the drawers, endorsers and bona fide holders of drafts drawn under and in compliance with the terms of this letter of credit that such drafts will be duly honored upon presentation to the drawee. �6, THE SUFFOLK COUNTY NATIONAL BANK 0 Letter of Credit No. 960722 Page 2 Except as otherwise expressly stated herein, this letter of credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision) International Chamber of Commerce Publication No. 500. This Letter of Credit supersedes our Letter of Credit #950722 dated July 22, 1995. Sincerely, eter M. Almasy Vice President The Suffolk County National Bank k THE SUFFOLK COUNTY NATIONAL BANK Commercial Loan Department P.O. Box 9000 Riverhead, New York 11901 June 20, 1996 Alan Cardinale P.O. Box 77 Mattituck, NY 11952 Re Letter of Credit No. 960722 Amount of Letter of Credit $ 78,780.00 Annual Fee @ 1.00o from 7/22/96 to 7/22/97 787.80 Due on Receipt Total Amount Due $ 787.80 L, STAND BY PROMISSORY NOTE FOR LETTER OF CREDIT $78,780.00 July 22, 1996 Alan Cardinale, after date above, I promise to pay the Suffolk County National Bank (the "Bank") or order at 6 West Second Street, Riverhead, New York, Seventy Eight Thousand Seven Hundred Eighty and 00/100 U.S. Dollars .at such time that the Suffolk County National Bank is called upon by Town of Southold to honor the Stand By Letter of Credit, or part thereof with interest at the prime rate as set by the Chase Manhattan Bank from time to time plus 1.00% from the date of payment of the Suffolk County National Bank to Town of Southold until such time said amount is fully paid. SECURITY To secure payment of the note, and all my other present and fu- ture debts to the Bank I give the Bank a security interest on all my property of any kind (including claims, accounts, physical property, securities and interests of whatever type) which the Bank now or later has in its possession or control. RIGHT TO DEMAND IMMEDIATE PAYMENT IN FULL If any of the following occur, the Bank may declare the total unpaid balance of this note due immediately: (a) failure to pay, when due, any amount payable on any of my debts to the Bank; (b) if any statement, representation or promise made here or elsewhere to the Bank shall be false or violated in any relevant respect; (c) my death or loss of my job or that of any cosigner of this note; (d) if I, or a guarantor or cosigner , becomes insolvent or bankrupt (however shown); (e) if the collateral is substantially damaged or destroyed or if the Bank deems the collateral unsafe or subject to risk; (f) if the Bank believes for any reason that any amounts due or to be due may not be paid; (g) if the Bank at any time believes the collateral is not sufficient security for this debt and I do not give the Bank more property as collateral or repay part of the debt as the Bank demands; (h) if any person who has recovered a judgement against me attempts to enforce it by legal proceedings. SALE OF SECURITY If I do not pay any amount when due under this note or under any of my other debts to the Bank, the Bank may sell any of my property at any price the Bank believes best, for cash or on credit, to anyone including the Bank itself, without notice to me, and apply the proceeds of the sale to pay any or all of my debts to the Bank. I will pay any costs involved in such sale or attempt to sell. If the buyer does not pay in full, I will assume this risk and my debts will be reduced only by the amount of the proceeds of the sale of the property. COST OF SUIT If the Bank sues me on this note, I will pay to the Bank its actual and reasonable attorneys fees if the matter is referred to an attorney who is not a salaried employee of the Bank. NO WAIVER No delay or failure by the Bank to take action _., ,.o:ajiection with this note will prevent the Bank from taking any action latet. NO ORAL CHANGES This note may not be changed, except in +•. -ing by the Bank. WHO IS BOUND "I" "me" and "my" refer to each signer of this note and each signer is bound separately. APPLICABLE LAWS This note will be governed by the laws of the State of New York and the laws of the United States as they affect National Banks. Alan Cardinale THE SUFFOLK COUNTY NATIONAL BANK 6 WEST SECOND STREET- P.O. BOX 9000• RIVERHEAD, NEWYORK 11901 -9000•(516)727 -2701 -FAX (516)727-5798 July 22, 1995 Town Board Town of Southold Southold, New York 11971 Re: Performance Bond - $78,780.00 Alan Cardinale Minor Subdivision SCTM 1000-122-3-1.4 Letter of Credit No. 950722 Dear Board Member: By order of Alan Cardinale, and for the account of same, we hereby establish this Irrevocable Letter of. Credit in your favor up to an aggregate amount of Seventy Eight Thousand Seven Hundred Eighty and 00/100 ($78,780.00) U.S. Dollars available by your drafts at sight accompanied by this original Letter of Credit. A copy of a resolution of the Town Board, certified by the Town Clerk, which indicates: "Alan Cardinale has failed to complete all of the improvements in connection with the subdivision map entitled "Alan Cardinale Subdivision" heretofore approved by the planning Board of the Town of Southold, and that as a result of said failure, there is due and owing an amount equal to the face ..cunt cf ..� dr�St. Said resolution shoilld a'ls. indicate that the amount drawn hereunder is for the sole purpose of completing those items of improvement which were to have been completed by Alan Cardinale." This Letter of Credit remains in force and must be presented for payment at our counters no later then July 22, 1996. All drafts drawn hereunder must be negotiated on or before that date. Each draft must state that it is "Drawn Under Letter of Credit of The Suffolk County National Bank" No. 950722 dated July 22, 1995 and this amount endorsed on this Letter of Credit. THE SUFFOLK COUNTY NATIONAL RANK Dt Letter of Credit No. 950722 Page Two we hereby agree with the drawers, endorsers and bona fide holders of drafts drawn under and in compliance with the terms of this Letter of Credit that such drafts will be duly honored upon presentation to the drawee. Except as otherwise expressly stated herein, this Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 :revision) International Chamber of Commerce Publication No. 400. This Letter of Credit replaces No. 940722. Sincerely, � P Ae*teM.LA10me;a!/`sy, V.P The Suffolk County National Bank 0® THE SUFFOLK COUNTY NATIONAL BANK 6 WEST SECOND STREET • P.O. BOX 269• RIVERHEAD. NEW YORK 11901-(516) 727-2701 • FAX (516) 727-3210 July 22, 1994 Town Board Town of Southold Southold, New York 11971 Re: Performance Bond - $ 78,780.00 Alan Cardinale Minor Subdivision SCTM 1000-122-3-1.4 Letter of Credit No. 940722 Dear Board Member: 646F P�r✓v01�'nt.0 JUL 2 6i 1994 S011THOLD TOWN PLANNING BOARD By order of Alan Cardinale, and for the account of same, we hereby establish this irrevocable letter of credit in your favor up to an aggregate amount of Seventy Eight Thousand Seven Hundred Eighty and 00/100 ($78,780.00) U.S. Dollars available by your drafts at sight accompanied by this original letter of credit. A purported copy of a resolution of the Town Board, reportedly certified by the Town Clerk, which indicates: "Alan Cardinale has failed to complete all of the improvements in connection with the subdivision map entitled "Alan Cardinale Subdivision" heretofore approved by the Planning Board of the Town of Southold, and that as a result of said failure, there is due and owing an amount equal to the face amount of our draft. Said resolution should also indicate that the amount drawn hereunder is for the sole purpose of completing those items of improvement which were to have been completed by Alan Cardinale." This letter of credit remains in force and must be presented for payment at our counters no later then July 23, 1995. All drafts drawn hereunder must be negotiated on or before that date. Each draft must state that it "Drawn Under Letter of Credit of the Suffolk County National Bank" No. 940722, dated July 22, 1994 and this amount endorsed on this letter of credit. We hereby agree with the drawers, endorsers and bona fide holders of drafts drawn under and in compliance with the terms of this letter of credit that such drafts will be duly honored upon presentation to the drawee. 0 THE SUFFOLK COUNTY NATIONAL HANK Letter of Creidt No. 940722 Page 2 Except as otherwise expressly stated herein, this letter of credit is subject to the Uniform Customs and Practice for Documentary Credits (1983 Revision) International Chamber of Commerce Publication No. 400. This Letter of Credit replaces #930723. Y omas qh �m homas K hlmann Sr. Vice Pr sident The Suffolk ounty National Bank