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Home My WebLink AboutFarmveu (2) JUDITH T. TERRY TOWN CLERK ~ .t:;"~ 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 (516) 765-1823 Telephone (516) 765-1800 OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION WAS ADOPTED BY THE SOUTHOLD TOWN BOARD AT A REGULAR MEETING HELD ON JANUARY 7, 1997: 'T1 > ::c ~ < m C RESOLVED that the Town Board of the Town of Southold hereby authorizes the release of the $40,000.00 bond being held as a guarantee for completion' of the roads and improvements in the major subdivision of Farmveu Associates at Mattituck, all in accordance with the recommendations of Engineering Inspector Richter and the Southold Town Planning Board. d,/.-#;;/ ~ ~~;err~ Southold Town Clerk January 8, 1997 .. . JUDITH T. TERRY TOWN CLERK REGISTRAR OF VITAL STATISTICS MARRIAGE OffiCER OFFICE OF THE TOWN CLERK TOWN OF SOUTIIOLD FAX TRANSMITTAL TO: FA li ....537- db~1 ANN NFSTOR FROM: DATE: BETTY NEVILLF '/111/07 Number of Pages (including cover): ~ If total transmittal is not received, please call (516)765-1800. COMMENTS: Town Hall. 53095 Main Road P.O. Box 1179 Southold. New York 11971 Fax (516) 765-1823 Telephone (516) 765-1800 / f 'i. W\ r ~i PURCHASER'S RECEIPT - RETAIN FOR YOUR RECORDS CASHIER'S CHECK 4728 50-6661214 PAYABLE TO FARHVEU ~G~T~ E G CJ -r I ~\f3 L. r~~~ (/t 97 \ n*51.11'S.1>'n 'J Fifll" ~ llllt I\uIldrM lIinetV Ugllt 67i101i un .1l, . .~.. '1 "2' 1 . Bridgehamptoo NatiOnal SOVTHOLD BRANCH Bank FEATHER HIll. MAIN ROAD SOlITHOLD, ~ 11971 NOTICE TO PURCHASER THE PURCHASE Of AN INDEMNITY BONO Will BE AEQUIREO 8EFQftE RNY OfFKIAl CHECK Of THIS SANK WILL BE REPlACED OA REFUNDED IN THE €VENT IT IS lOST, MlSPl.ACED Ol'l STOlEN MEMORANDUM FOR (;,{/ )~~- I llo102+ ':0 2 ~I,obbb 71: 05"'000 :10'" 211' ..----.--._~ OFANY lESS --_.._~.............,- ,. 'I"~ fO.OO 501024 14 ";-, .-.-...,"jW ,,' LEAVING WINDOW -'i,' ;;1~':'-1 J ::~::jJl! ":.""l-J '"'" 111' " 'd . :<11 '. '. ,.i\pton National Bank -Oil::.,- ~J _/ ,-,." ~ :'r: ~. -~.,~" I '. J . I ': ;:ft~ On_ thousand On_ hundred Nin_l~ Eight 67/100 **** I 4 ~Banri~k~~~~"t,~~~A~ -~.. Ii' ~ SOUTHOlO. NY 11971 . 50:024 ,~ 11'001,72811' 1:02~I,Obbb71: A-'C"..-...~_...~ '-:':~~~~;,-,"'":';Y_"'I'''i''''__'~_''''''''tii''M'~''' -.,'.. .,....,"~..<.,'::, ".,".. ""',:"""";"",,.'~ ~~,,'i,'I."-""""'.',_~,,'..:-..~~.._ CASHIER'S CHECK .-..",. ,:,:,.:.;;~ 472f1 , .:..: ~ .". ^, " 09 50-666121"- . 19~ ....'t ~ ", ...... PAY TOTHE FRRHVEU RSSOCIRTES ORDER OF ,~---.J $*ml.I911~6~~~j ....,~,~-::'~.:;-~..",;.....~..,~..~...~;.'._-..i'_.--......".".\\"'~~""""" ,..... '1-":,.n"""1: "~". .,"""''"''''''.'.'...... ,\\"'l~,.'~...~~-~_";;~... DO,a' NOTlCETOPUIKHASER y~~ TH~ PURCHASE Of AN INOEMPIlY 10M) U&11(';":'. AEQUlRED 8EfOAE NH OffICIAL CHlO( 01 na"'-, :~ IlANH WILL IE AEPlACED OR AEfI.NlS). THE-"'t ...." '.~ tJ:;1T IS LOST. MlSP\JICED OR src:uN. ~-.".~ ~ ,-,. /' " .' .~:l "", 05"'00030'" 211' .'. '.J" .~ ",. .to_ --~-":'~.. . ji T --.~-~-,~ \,!!l"'!~:-' '-';: ,,', ,'- -', . . , , . .:" '. I 10 . ~=~:.' _::~_~~JQ.ifU!,,<~-~ If{~Jrl~''\ "X ",,,,,,,,,,,.~q,,~,,,,,,,, I ~!""''1'H l~>_ / ., BY WHOM PAID CORRECTED D' (ff checked) r........,.~.."'" ' "'r:: \~,......o- 'I""';U' ',q'c'" "R?tl'~ "~'~'. ,; ,.; :J,:, ~ :. ".~~ '~~;:.i<''''''1+..,., ':lm' """.a~'~ , ~ , .. :' ., ";.}I', ;.." I', ;~f" : . ~ . 1'4.(" , ... ". ..c", ."~,,, "'" ,~, n ....,'. '.' ". f: ........ r.....Y. ;= ",.Jon -r:;' ..l--.r 'r:;._ ... --Ii . .,., ...';...~ "C.'".' ".,~,~~...fit.'.~,.; ''''?:i'.7C..... ~"Ji. :1 "Zll. "t>. 1~'" .{:.!' "" ~ ""'.!h~+- ""'..';; I '. . ... l\ I '., '. .... ~ . ... .. i - r- -. '- . - I ; '," ' ""~ ;""'~ ......i,.'" "<.: " ~,~,.,....ft: '., ... .c4 'J, ~~.:...q';.z~. 4'"t't;f.(_' ~~'__ ""'1\. :~"''"f1~h~.. . "~-.....,j ~.. - -, ~- "". - ~'",,"I~-.~ ..", I' -.... .>"~...} , ~~;5"d ,:- ~....,.. ..... ': -: ,,~., H',/ '(t..- . ":~-'~r~- '-p :!1;~-' ,l_,.,.~ ,-_<:T .k.t.:>..rn,#,gL -,.,. .~_':} PAYER'S RTN (OPTIONAL) 1 Interest income not included 3 Intere.st on U,S..;$avings' . in Box 3 Bonds and Treas: obligations jRIlit.u:'A{~prOrl .;iidt'HtAL nA,IK !'IAr' SfR€H P':OM ,<'II.~~iJO') l!I.d'(',l.fJl"tl'r~tb 'l'lV Tl.?)lZ" .. " Payer's i~nnti~~g number.,_, RecJpient:s identifyJngnumber lh~9'$~;t94 to.4" 14"'4550 ,h.l9J.ul :r;~' FORM 1099 INTEREST SUBSlTTUTE 'This is important tax Infonnatipn and is being furnished to the Internal 2 Early withdrawal penalty,.J Revenue Service. If you a.r8 required to file a return, a negligence penalty or other sanction may be imposed on you if .. ,J' '.l . this income is taxable and the IAS determines that it has not been reported. Keep thIs copy for your records. ...WI) TO WHOM PAID ~ 4 Federal income tax withheld .Ol) , ._J!~R~~. l..~~ S:~ ""'__. ~ '3~ .1t;., ",'" -. ... S6UTnO~D N' 11971 5 Foreign tax paid / .00 ..""t:';~a""'fIl-',~.::. :~, 6 Foreign country or U.S. possessjon J.... ~ Y.--..._.....',...,,~... "~- FORFEITURE ~LR"Cli4AL ?A3~dK ACCOUi'tf' !~5 t}~. Pr.:R$01ilAl SOU001060 $Z0006oS1 651."<) ,!,')47,.11 .00 ..00 FEDERAL TAX WITHHELD .00 .00. ------ -~- ~ - " , J7;,em(Jf,// ,.4srtJCI/trP5 \' . . . '. I;o -:P //-~oR/~.k. ...~,'\~r::,. ::'-'.,~~:~' ,!71./-1/L 4;~ ( 095! '7"V / '50' .. ,,,\ -"" .....,... ~. ,; Wt5'.er/~"j A:bL..J~:" '." ~. ,0,; . .' , ~;'1?~, ~.. rr ' 'i 5"9' #i4t41XiW ".'.. ..;~" 'L. ' ~~"."..' ""I~- -~",,$;':'~'I\::t'f:"'t;:..,~;~.'-';..~ ~~:,:,:::':~ ?-'i,- ,,,. "'~<c',^., == ..-"'.. :'::'~';f;~1~ . -~ ,~."Y' , ;~ 0:J~6t/d ~;<'?:~,.~, ,.' . -- ~ -,of, 'dJ ~. '" -~ 050000H160 ',AcCo'i>)tNumber 500001060 Bridgehampton National Bank A WERNER L RDEL JR C RICHRRD J CRON C FRRMVEU SUBDIVISION o BOX 1179 U SOUTHOLD NY 11971 N T H o L o E R ____.~_ .O_____n_._____ ____ _.___________.__.__.___ Bridgehampton National Bank Bridgehampton. Main Street. (516) 537-1000 Bridgehampton. Snake Hollow Rd. (516) 537-1200 Southampton · 425 County Rd. 39 · (516) 283-1286 East Hampton · 26 Park Place. (516) 324-8480 South aId · Feather Hill, Main Rd.. (516) 765-1500 Mattituck · Mattituck Plaza, Main Rd._ (516) 298-0190 ~ ", PURCHASER'S RECEIPT - RETAIN FOR YOUR RECORDS CASHIER'S CHECK PAYABLE TO F JlRHVEU ~~';}-~:'I T~~ hH~ U;;:J2 V\ii.t,!':i.JD,j un~ htlMt.t-n Ni'";';:;:f t.l~r,t fl' . Bridgehampton . n SOUTHOLD BRANCH BanNatiok aI FEATHER Hill, MAIN ROAD "'='" SOUTHOLD, NY 11971 I~'.:' ~ fj i::" L';' J1.1.1 TI/\ ! i 1---\ ! !/ '\ NOTICE TO PURCHASER THE PURCHASE OF AN INDEMNITY BOND WILL BE REQUIRED BEfORE ANI' OfFICIAL CHECK OF THIS BANK WilL BE REPLACED OR REFUNDED IN THE EVENTITISlOST,MISPlflCEDOASTOI.EN (~J " ;':1 4728 50-666/214 .,:J'" :kt.~'t,1~";:;.t"':'$ - 1:02~a.Obbb'i'l: 05"'000:10"'2"' FOR " "''\.~. MEMORANDUM ) }z-",,16-1 I ---~. ----.-.--- .. - ~----_....,.~ ...--- ", 0500001060 ACCOUNT NUM BE JOl "\ ) O....TI!: W1THDR....WAL O.~OIIT INT. REST 8AL....NCIl: T.LI,.I!IR ! A I ! 2 3 6/28/96 $50.5.7.11 $50,5.7.11 50102. 1 . 5 i 6 6/28/96 3.46 $50,550.57 50102. 5 i 7 7/31/96 lH.38 $50.66..95 501024 6 8 8/30/96 104.21 $50,769.16 501024 7 i . ,J . 9/30/96 107.91 $50.877.07 501024 8 I 0/31/96 108.1. $500985.21 501024 9 I I 10 101.37 $51,086.58 501024 10 i 1/29/96 11 2/31/96 ~112.09 $51,196.67 501024 11 I , 12 I PLEASE NOTI FY US OFANY ~_._- - ... -----~ t-.--- '--'- --------- ---- ---'''.--'-'''- CHANGE OF ADDRESS 13 ,. 01109/97 $51.198.67 $0.00 501024 H 15 16 17 18 ,. 20 21 22 23 , 2. " Iii'" i'" i . 'Ii.' ALWAYS VERIFY ENTRY BEFORE LEAVING WINDOW Bridgehampton National Bank _/ -"'?'"-:-~- .. ,-~......."':;.-i~;..:;,:;;;~.:::;O"'~(~"';;":~~i;,~..~~.,:;;;;;..~"!~,,_~.._~"Ii~'\\;"w_' "{=X;E.;;"'~"_~"'~.I\'-"~_~-:;~~_~~~-;;.;:;;:Y~"~..:.. I ~~ I ,< il PAY 6~6~~ OF FRRMVEl.,_ RSSOCIRTES__u______.., ': Fl f'ty One tr.cusand One nundred Ninety Eight 67/100 **** 1-- 1O.ii.~=_ .- ,~ ~Bank SOUTHOLD,NYl1971 150102>, ,I '. :h''\!'';::~-;;'e:''~c;;~'':-'~~':'!'~:::'"~~'''~~~S-1~'':'::.''''~~~~''''''::'_i'''It(Wm)__'~__~__~,~.::,~_~:..~... CASHIER'S CHECK 4728 ^' H 09 50-6661214 1997 I $***51.198;m "1 "" ......-..J NOTICE TO PUACHRSEfl THE PURCHASE OF AN 1N0EMNnV 80M> WIll BE AEQUIAED 8EfOAE ANY OFRCW. CHECK Of TIIS BANH WILL BE AEPlACED ~ AEfUNOEO IN THE t;:JTMIS~ - 11'00 lo '12811' 1:0 2 ~ loO b b b 'II: 05"'000 :IOU! 211' DOLLA"8- ..:~~ ^ .'.,:~;;' .. ~, "d GEORGE RITCHIE LATHAM, JR. BENNETT ORLOWSKI, JR. WILLIAM J. CREMERS KENNETH L. EDWARDS ~-,-j/ 9 ~ -,<, '\ PLANNING BOARD MEMBERS RICHARD G. WARD Chairman Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (516) 765-3136 Telephone (516) 765-1938 PLANNING BOARD OFFICE TOWN OF SOUTHOLD January 7, 1997 Judith T. Terry, Town Clerk Southold Town Hall Southold, NY 11971 RE: Approved major subdivision Farmveu Associates SCTM# 1000-121-3-2 Dear Mrs. Terry: The Planning Board reviewed the applicant's request to release the bond for roads and improvements in the above mentioned subdivision at the January 6, 1997, work session. The Planning Board recommends to the Town Board that the passbook in the amount of $48,000.00 be released. The roads and improvements have been completed in a satisfactory manner as noted in the December 19, 1996 report from James Richter and the December 20, 1996 report from Raymond Jacobs. The firewell has been tested by the Mattituck Fire Department and has been found to be within the Mattituck Fire District Firewell Specifications. Please contact this office if you have any questions regarding the above. enc. cc: James Richter ----- \ , Fax. (516) -765-1750 ~ , p~ JAMES A. RICHTER, R.A. RAYMOND L. JACOBS SUPERINTENDENT SOUTHOLD TOWN HIGHWAY DEPARTMENT ENGINEERING INSPECTOR PECONIC LANE, PECONIC, N.Y. Tel. (';,16) -"'i'b~,,'''::;O)O OFFICE OF THE ENGINEER TOWN OF SOUTH OLD December 19, 1996 Mr. Raymond L. Jacobs Superintendent - Southold Town Highway Peconic Lane, P.O. Box 178 Peconic, New York 11958 Re: FARMVEU SUBDIVISION Sound Ave. & Aldrich Lane, Mattituck, N.Y. SCTM #: 1000 - 121 - 03 - 02 Dear Ray: A final inspection has been requested for the above referenced subdivision. The placement of the asphalt wearing course was the last remaining construction item to be completed. Your report, dated 11/12/96, approved the asphalt work. The two additional outstanding items (Street Signs & Concrete Survey Monuments) have also been installed in a satisfactory manner. At this time, all required construction items have been completed. I hereby recommend the release of the bonds for FARMVEU in Mattituck. I cerely, J,me,li@ '. RAYMOND L. JACOBS Superintendent Highway Department Town of Southold Peconic Lane Peconic. N.Y. 11958 December 20. 1996 Southold Town Planning Board Town Hall 53095 Main Road Southold, New York 11971 Re: Final inspection - Farmveu Subdivision Sound Ave. & Aldrich La., Mattituck, N.Y. Dear Members: I have received a final inspection report for the above referenced project from the engineers office and I concur with his report. Ully, 7-~ Raymond L. Jacobs Superintendent of Highways ~ /)6 ,l-P (516) 765-3140 (516) 734-5211 FAX (516) 765-1750 cc: J. Richter --. Ii: n WI r Oi l!i U i.J I~ In d ;.1;;) fji:1 . !TlriI D ~ @ iJl !I n I! ~ ., i i "r. j Uu i-- I L.. _ , , f 2 3 i996 ---~.__...~..,-~-~ BACK PAGE 01 OF 02 C E R T I F I CAT E o F D E P 0 SIT T RAN S C RIP T S TAT E MEN T Account: 520006651 WERNER L ADEL JR RICHARD J CRON BOX 1179 FARMVEU SUBDIVISION SOUTHOLD NY 11971 CYCLE: 999 06/29/95 Thru 06/27/96 Balance Last Statement .00 Credits Debits Number 2 Amount 50,547.11 Number o Amount .00 Balance This Statement 50,547.11 --------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Description Debits Credits Date Balance -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- BALANCE FORWARD DEPOSIT INTEREST 06/29/95 48,000.00 06/29/95 2,547.11 06/27/96 .00 48,000.00 50,547.11 RCV C0949 BRlDGEHAMPTON NATIONAL BANK 54970 MAIN ROAD SOUTHOLD NY 11971 516-765-1500 TRUTH IN SAVINGS DISCLOSURE Terms following a lKJ apply only if checked. Ace!: PERSONAL PA5SBK Acet #: 500001060 Date: 06/28196 ~ The interest rate and annual percentage yield stated below are accurate as of the date printed above. If you would like more current rate and yield information please call us at This disclosure contains the rules which govern your deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular. We reserve the right to at any time require not les5 than SEVEN days notice in writing before any withdrawal from an interest bearing account. o FIXED RATE D The interest rate for your account is an annual percentage yield of this rate We will not decrease this rate unless we first give you at least 30 days notice in writing. 0.0000 % with %. We will pay o The interest rate and annual percentage yield for your account depend upon the applicable rate tier. We will pay these rates We will not decrease these rates unless we first give you at least 30 days notice in writing. IKJ VARIABLE RATE Ii(] The interest rate for your account is 2.5000 % with an annual percentage yield of 2.53 %. Your interest rate and annual percentage yield may change. D The interest rate and annual percentage yield for your account depend upon the applicable rate tier. The interest rate and annual percentage yield for these tiers may change. Determination of rate lKJ At our discretion, we may change the interest rate on your account. o The interest rate for your account o The fixed initial rate is not determined by this rule. o The initial interest rate on your account Subsequent rates Frequency of rate change ~ We may change the interest rate on your account DAILY o Your initial interest rate will not change ltl1992 Bankers Systems, Inc., St. Cloud. MN (1-800-397-2341) Form TSD 9/22193 We may change the interest rate on your account at that time and thereafter, Limitations on rate changes o The interest rate for your account will not by more than each D The interest rate will not be less than 0.0000 % or more than 0.0000 %. D The interest rate will not the interest rate initially disclosed to you. Minimum Balance Requirements !Xl To open the account. You must deposit at least $ 100.00 to open this account. ~ To avoid imposition of fees. To avoid the imposition of the must meet IKl A SERVICE you following requirements: of $ 5.00 will be imposed every MONTH if the balance in the account faits below $ 100.00 any day of the MONTH DA ~$ 000 will be imposed every if the average daily balance for the falls below $ 0.00 . The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is To avoid the imposition of the must meet DA you following requirements: of $ 0.00 will be imposed for transaction (withdrawal, check paid, automatic transfer or payment out of your account) if the balance in the account falls below $ any day of the 0.00 DA of $ 0.00 will be imposed for transaction (withdrawal, check paid, automatic transfer or payment out of your account) if the average daily balance for the falls below $ 0.00 . The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is KJ To obtain the annual percentage yield disclosed. KJ You must maintain a minimum balance of $ 100.00 in the account each day to obtain the disclosed annual percentage yield. D You must maintain a minimum average daily balance of $ 0.00 to obtain the disclosed annual percentage yield. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is (page 1 of 2) ", Compounding and Crediting lKl Frequency - Interest WilL compounded DAILY Interest will be ON THE LAST DAY OF EACH MONTH IKl Effect of closing an account - If you close your account before interest is credited, you WILL NOT receive the accrued interest. Balance Computation Method lKl Daily Balance Method. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. o Average Daily Balance Method. We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is Accrual of interest on noncash deposits D Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks) . IKl Interest begins to accrue ON THE BUSINESS DAY you deposit noncash items (for example, checks). Bankers Systems, Inc., St. Cloud, MN 11-BOO-397-2341) Form TSD 9f22/93 be Bonuses D You will as a bonus D You must maintain a minimum of $ 0.00 to obtain the bonus. D To earn the bonus, Transaction Limitations D The minimum amount you may deposit is $ 0.00 D The minimum amount you may withdraw is $ 0.00 D You may only make each transfers from your account by checks to third parties and The minimum withdrawal is $ D You may only make statement cycle. D You may only make_ATM your account each statement cycle. D You may only make preauthorized transfers your account each statement cycle. 0.00 deposits into your account each (page 2 of 2) YOU~ DEPOSIT ACCOUNT TERMS AND CONDITIONS AGREEMENT - These terms govern the operation of this account unless varied or supplemented in writing. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so that the singular includes the plural and the plural includes the singular. As used in this form, the words "we," "our, II or "us" mean the financial institution and the words "you" or "your" mean the account holder(s). This account may not be transferred or assigned without our written consent. Much of our relationship with our deposit customers is regulated by state and federal law, especially the law relating to negotiable instruments, the law regulating the methods of transferring property upon death and the rights of surviving spouses and dependents, the law pertaining to estate and other succession taxes, the law regarding electronic funds transfer, and the law regarding the availability of deposited funds. This body of law is too large and complex to be reproduced here. The purpose of this form is to: (1 )summarize the rules applicable to the more common transactions; (2)establish rules to govern transactions or circumstances which the law does not regulate; and (3)establish rules for certain events or transactions which the law already regulates but permits variation by agreement. We may permit some variations from this standard agreement, but any such variations must be agreed to in writing either on our signature card for the account or in some other written form. LIABILITY - Each of you agrees, for yourself land the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges that may be imposed. You authorize us to deduct these charges as accrued directly from the account balance. You also agree to pay additional reasonable charges we may impose for services you request which are not contemplated by this agreement. Each of you also agrees to be jointly and severally liable for any account deficit resulting from charges or overdrafts, whether caused by you or another authorized to withdraw from this account, and the costs we incur to collect the deficit including, to the extent permitted by law, our reasonable attorneys' fees. DEPOSITS - Any items, other than cash, accepted for deposit (including items drawn "on us") will be given provisional credit only until collection is final (and actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars). Subject to any other limitations, interest will be paid only on collected funds, unless otherwise provided by law. We are not responsible for transactions initiated by mail or outside depository until we actually record them. All transactions received after our "daily cut-off time" on a business day we are open, or received on a day in which we are not open for business, will be treated and recorded as if initiated on the next following business day that we are open. WITHDRAWALS - Unless otherwise clearly indicated on the account records, anyone of you who signs this form including authorized signers, may withdraw or transfer all or any part of the account balance at any time on forms approved by us. Each of you (until we receive written notice to the contrary) authorizes each other person signing this form to endorse any item payable to you or your order for deposit to this account or any other transaction with us. We may charge against your account a check, even though payment was made before the date of the check, unless you have given us written notice of the postdating. The fact that we may honor withdrawal requests which overdraw the finally collected account balance does not obligate us to do so, uniess required by law. Withdrawals will first be made from collected funds, and we may, unless prohibited by law or our written policy, refuse any withdrawal request against uncollected funds, even if our general practice is to the contrary. We reserve the right to refuse any withdrawal or transfer request which is attempted by any method not specifically permitted, which is for an amount less than any minimum withdrawal requirement, or which exceeds any frequency limitation. Even if we honor a nonconforming request, repeated abuse of the stated limitations (if any) may eventually force us to close this account. We will use the date a transaction is completed by us las opposed to the day you initiate it) to apply the frequency limitations. On interest-bearing accounts other than time deposits, we reserve the right to require at least seven days' written notice before any withdrawal or transfer. Withdrawals from a time deposit prior to maturity or prior to the expiration of any notice period may be restricted and may be subject to penalty. See your notice of penalties for early withdrawal. OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION - You intend these rules to apply to this account depending on the form of ownership and beneficiary designation, if any, specified on page 1. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds. Individual Account - is owned by one person. Joint Account - With Survivorship lAnd Not As Tenants In Common) - is owned by two or more persons. Deposits and any additions to the account are the property of the owners as joint tenants with right of survivorship. This means that we may release the entire account to any owner during the lifetime of all owners. We may honor withdrawal requests (including checks) from any owner during the lifetime of all owners. We may be required to release money in the account to satisfy a judgment against or other valid debt incurred by any owner. We may honor withdrawal requests (inciuding checks) from any surviving owner after the death of any owner, and may treat the account as the sole property of the surviving owner(s). Unless an owner directs us by written notice not to honor the withdrawal request (including checks) of an owner we will not be liable for doing so. After we receive such a notice, we may require the written authorization of any or all (page 2 of 3) @1983. 1990, 1991 Bankers Systems, Inc.. St. Cloud, MN (1-800-397-2341) Form MPSC-LAZ-NY 8f23/94 joint "ciwners for any further payments or deliveries. Joint Account - No Survivorship (As Tenants In Common) - is owned by two or more persons, but none of you intend (merely by opening this account) to create any right of survivorship in any other person. We encourage you to agree and tell us in writing of the percentage of the deposit contributed by each of you. This information will not, however, affect the "number of signatures" necessary for withdrawal. Convenience Account governed by New York Banking Law 678. See separate disclosure. Revocable Trust Account - If two or more of you create such an account, you own the account jointly with survivorship. Beneficiaries acquire the right to withdraw only if: (1) all persons creating the account die, and (2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, such beneficiaries will own this account in equal shares, without right of survivorship. Any such beneficiary may withdraw all or any part of the account balance. The person(s) creating this account type reserves the right to: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the deposit at any time. Corporate, Partnership, and other Organizational Accounts - We will usually require a separate authorization form designating the person permitted and conditions required for withdrawal from any account in the name of a legal entity such as a partnership, corporation, or other organization. We will honor such authorization according to its terms until it is amended or terminated in writing by the governing body of such organization. STOp.PA YMENTS - A stop-payment order must be given in the manner required by law, must be received in time to give us a reasonable opportunity to act on it, and must precisely identify the number, date and amount of the item, and the payee. We will honor a stop-payment request by the person who signed the particular item, and, by any other person, even though such other person did not sign the item, if such other person has an equal or greater right to withdraw from this account than the person who signed the item in question. A release of the stop-payment request may be made only by the person who initiated the stop-payment. AMENDMENTS AND TERMINATION - We may change any term of this agreement. Rules governing changes in interest rates have been provided separately. For other changes we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Notice from us to anyone of you is notice to all of you. STATEMENTS - You must examine your statement of account with "reasonable care and promptness." If you discover any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties you will bear the entire loss. Your loss could include items on the statement, or other items with unauthorized signatures or alterations by the same wrongdoer which we pay after the time for "reasonable care and promptness" expires and before we receive notice from you. You agree that the time that you have to examine the statement and report to us depends on the circumstances, but that such time will not, in any circumstance, exceed 14 days from when the statement is first made available to you. We lose these protections if you establish that we failed to exercise ordinary care in paying an item with an unauthorized signature or alteration. You further agree that if you fail to report any unauthorized signatures, alterations, forgeries or any other errors within 60 days of when we first make the statement available to you, you cannot assert a claim against us on any item in the statement. This 60 day limitation is without regard to whether we exercised ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section. DIRECT DEPOSITS - If, in connection with a direct deposit plan, we deposit any amount in this account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from this account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability. TEMPORARY ACCOUNT AGREEMENT - If this option is checked on the account records, this is a temporary account agreement. Each person who signs this signature card (except as indicated to the contrary on the account records) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time. SET-OFF - You each agree that we may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt owed to us now or in the future, by any of you having the right of withdrawal, to the extent of such persons' or legal entity's right to withdraw. If the debt arises from a note, "any due and payable debt" includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note. This right of set-off does not apply to this account if: (a) it is an Individual Retirement Account or other taxMdeferred retirement account, or (b) the debt is created by a consumer credit transaction under a credit card plan, or (c) the debtor's right of withdrawal arises only in a representative capacity, or (d) social security or supplemental security income payments are deposited directly into this account pursuant to an agreement with us which permits such direct deposit without presentation to you at the time of deposit. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of set-off. FACSIMILE SIGNATURES - You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signaturels) may have been affixed so long as they resemble the facsimile signature specimen on page 1 of this agreement, or that are filed separately with us, and contain the required number of signatures for this purpose. (page 3 of 3) @1983, 1990, 1991 Bankers Systems, Inc., St. Cloud, MN (1-800-397-2341) Form MPSC-lAZ-NY 8/23/94 . This Certificate WERNER L ADEL JR Certificate Number 520006651 Evidences A RICHARD J CRDN SSN/TIN S 104-34-4550 Deposit In The FARMVEU SUBDIVISION, Town of Southold PO BOX 1179 D/OiB Name(s) Of: 520006651 SOUTHOLD NY 11971 Account Number Date 06/29/1995 In The Amount Of Forty Eight thousand 01100 ._.. dollars $ 48,000.00 ACCOUNT TYPE AND TERMS - Only the boxes that are checked and the lines that are filled in apply. Term (Initial) 365 DAYS D Day Minimum Notice o Single Maturity IX) Automatically Renewable Maturity Date (First)_ 06/28/96 D Fixed Rate D Min. Balance Req. $ 0.00 Interest Rate (Initial) 5.1000 % DVariable Rate: Initial Index Rate % Maximum Rate % Compounded Daily Minimum Rate % First Adjustment Date Interest Calculated 365 I 365 Adjustment Frequency No. Endorsements Required For Withdrawal Rate Formula Interest Paid - At Maturity (a) IXI By Compounded 8RIDGEHAMPTON NATIONAL 8ANK (b) 0 By Deposit To Acet. No. 54970 MAIN ROAD SO~OLD NY.fJ971 516-765-1500 BY u / 1/ A 7","" GENERALLY: "We" and "us" means the financial institution. "Voul! and We may tenninate this account by written notice to you of our intention to do tryour" means the depositor(s). "Certificatell means both this original instrument so, mailed (or otherwise delivered in person) not less than 10 days before the as well as the deposit it shows. This certificate (and the account it represents) or termination date, and no interest will accrue after the termination date. minimum notice account may not be transferred or assigned without our prior SINGLE MATURITY: If the single mawrity box is checked, you should present written consent and is not negotiable. this certificate promptly at mawrity for payment. No interest will accrue on this VARIABLE INTEREST RATE: Your deposit will earn interest at the initial certificate after the maturity date. interest rate stated on this certificate to the first adjusnnent date. Then, and on AUTOMATIC RENEWALS: If the automatic renewal box is checked, this each succeeding adjustment date, the rate this certificate will earn is subject to be certificate will be automatically renewed after the stated maturity date for increased or decreased according to the formula described on this certificate. The successive terms, each equal to the original term. The interest rate will be the rate will remain the same between interest adjustment dates. same we offer on new certificates on the maturity date which have the same term, If the ~first adjustment date" is phrased in terms of "index change" this means minimum balance (if any) and other features as this original certificate. You may the first adjustment date and the rate adjustment frequency after the first call us on or shortly before the maturity date and we will tell you what the adjustment date are not regularly scheduled. In this case, the rate this certificate interest rate will be for the next renewal term. will earn will be adjusted any time the "index" changes. The automatic renewal of this certificate may be prevented if one of the The interest rate we will pay on this certificate will not, however, be greater following things happens: than the stated maximum rate (if any) or be less than the stated minimum rate (if (1) This certificate is personally presented for payment on a maturity date or any) regardless of changes in the index rate. within 10 days after the maturity date; COMPOUNDING: The compounding frequency and interest calculation method (2) We receive written notice from you before a maturity date of their will not change during the term of the certificate, regardless of adjustments to the intention to cash in this certificate; interest rate, until we give reasonable notice to you of such change. (3) Not less than 14 days before a maturity date we mail to you a written DEFINED DAY MINIMUM NOTICE ACCOUNT: If we have specified a notice of our intention to cash in this certificate on a maturity date. number of days and checked the minimum notice box, then this account has no YOUR DEPOSIT WILL NOT EARN INTEREST AFTER THE MATURITY definite maturity date. To withdraw all or any portion of the account balance DATE UNDER THIS CERTIFICATE (UNLESS IT IS RENEWED). without penalty, you must give us notice of your intention to withdraw funds from this account. We must actually receive the notice at least the minimum Endorsements (Sign only when requesting withdrawal): number of days stated above before you may make a withdrawal. Your notice may be in writing or by such other means as we may permit, and must specify x the amount and date of intended withdrawal. Interest will no longer accrue after the withdrawal date specified in your notice, on that portion of the account x balance then available for withdrawal. If any withdrawal reduces the account balance below the "minimum balance required," the remaining balance in the account will earn interest at the annual rate of % until the account balance again equals or exceeds the "minimum balance required." DAdditions: If checked, you may make additions to this account in an amount equal to or greater than $ 0.00 at any time. D Additions To Minimum Notice Accounts: An addition to a minimum notice account will not be permitted if at the time of the proposed addition, a request for withdrawal is pending which would, within the minimum notice period following the proposed addition, reduce the account balance below the minimum balance required. If this account has a minimum notice of at least seven and not more than 31 days, additional deposits must remain in this account for a period equal to at least the notice period before such funds may be withdrawn without the imposition of an early withdrawal penalty. D Additions to Single Maturity and Automatically Renewable Accounts (check one): D Your addition must remain on deposit for a period of time which is not less than the original term of this certificate. This means that your next (and each succeeding) maturity date will be the date which follows the date of the addition by a period of time equal to the original term of this account. o Your addition must remain on deposit for a period of time which is not less than the original term of this certificate. This means that the first (but not succeeding) maturity date for the addition will be the second regularly scheduled maturity date following the date of the addition. Thereafter, all funds on deposit for the period of time equal to at least the original term will have the same matunty date. D Your addition will not extend the maturity of all, or any portion, of the funds on deposit. Additions will earn interest from the date of deposit, and will mature at the same time as the first deposit. ~ 1982,1990 Bankers Systems, Inc., St. Cloud, MN (1-800.397-23411 Form 7f31CDlAZ-NY 4/12/93 (page 1 ot 1) 7/31 CERTIFICATE OF DEPOSIT e Bridgehampto. n , National - 1lank ",. I! J '7\ NAME..)f-I/1 /)( /A~ A I/-d'L (. u/'t.. ACCOUNT NUMBER _~ ~ 000 t:r;, s-/ DEPOSITS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL ACCOUNT DEPOSIT TICKET " j./. / ,- DATE fl >7 ,i't;,j o CHECKING - 40 c;::(cERTIFICATE OF DEPOSIT - 209 o STAJEMENT SAVINGS - 50 0 PASSBOOK SAVINGS - 50 o OTHER 0 MONEY MARKET - 40 CURRENCY COIN CHf:CKS /) <I h-d -J (j ll-,,- TOTAL FROM OTHER SIDE TOTAL LESS CASH RECEIVED NET DEPOSIT (j .1 /HIV - , -, YOUR DEPOSIT ACCOUNT TERMS AND CONDITIONS AGREEMENT - These terms govern the operation of this account unless varied or supplemented in writing. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so that the singular includes the plural and the p,lural includes the singular. As used in this form, the words "we," 'our," or "us" mean the financial institution and the words "you" or "your" mean the account holder(s). This account may not be transferred or assigned without our written consent. Much of our relationship with our deposit customers is regulated by state and tederal law, especially the law relating to negotiable instruments, the law regulating the methods of transferring property upon death and the rights of surviving spouses and dependents, the law pertaining to estate and other succession taxes, the law regarding electronic funds transfer. and the law regarding the availability of deposited funds. This body of law is too large and complex to be reproduced here. The purpose of this form is to: (1) summarize the rules applicable to the more common transactions; (2) establish rules to govern transactions or circumstances which the law does not regulate; and (3) establish rules for certain events or transactions which the law already regulates but permits variation by agreement. We may permit some variations from this standard agreement, but any such variations must be agreed to in writing either on our signature card for the account or in some other written form. LIABILITY - Each of you agrees, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges that may be imposed. You authorize us to deduct these charges as accrued directly from the account balance. You also agree to pay additional reasonable charges we may impose for services you request which are not contemplated by this agreement. Each of you also agrees to be jointly and severally liable for any account deficit resulting from char~es or overdrafts, whether caused by you or another authorized to WIthdraw from this account, and the costs we incur to collect the deficit including, to the extent permitted by law, our reasonable attorneys' fees. DEPOSITS . Any items, other than cash, accepted for deposit (including items drawn "on us") will be given provisional credit only until collection is final (and actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars). Subject to any other limitations, interest will be paid only on collected funds, unless otherwise provided by law. We are not responsible for transactions initiated by mail or outside depository until we actually record them. All transactions received after our "daily cut-off time" on a business day we are open, or received on a day in which we are not open for business, will be treated and recorded as if initiated on the next following business day that we are open. WITHDRAWALS. Unless otherwise clearly indicated on the account records, anyone of you who signs this form including authorized signers, may withdraw or transfer all or any part of the account balance at any time on forms approved by us. Each of you (until we receive written notice to the contrary) authorizes each other person signing this form to endorse any item payable to you or your order for deposit to this account or any other transaction with us. The fact that we may honor withdrawal requests which overdraw the finally collected account balance does not obligate us to do so, unless required by law. Withdrawals will first be made from collected funds, and we may, unless prohibited by law or our written policy, refuse any withdrawal request against uncollected funds, even if our general practice is to the contrary. We reserve the right to refuse any withdrawal or transfer request which is attempted by any method not specifically permitted, which is for an amount less than any minimum withdrawal reQuirement, or which exceeds any frequency limitation. Even if we honor a nonconforming request, repeated abuse of the stated limitations (if any) may eventually force us to close this account. We will use the date a transaction is completed by us (as opposed to the day you initiate it) to apply the frequency limitations. On interest.bearing accounts other than time deposits, we reSElrve the right to require at least seven days' written notice before any withdrawal or transfer. Withdrawals from a time deposit prior to maturity or prior to the expiration of any notice period may be restricted and may be subject to penalty. See your notice of penalties for early withdrawal. OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION - These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. Individual Account - is owned by one person. Joint Account ~ With Survivorship (And Not As Tenants In Common) - is owned by two or more persons. Deposits and any additions to the account are the property of the owners as joint tenants with right of survivorship. This means that we may release the entire account to any owner during the lifetime of all owners. We may honor withdrawal requests (including checks) from any owner during the lifetime of all owners. We may be required to release money in the account to satisfy a judgment against or other valid debt incurred by any owner. We may honor withdrawal requests (including checks) from any surviving owner after the death of any owner, and may treat the account as the sole property of the surviving owner(s). Unless an owner directs us by written notice not to honor the withdrawal request (including checks) of an owner we will not be liable for doing so. After we receive such a notice, we may require the written authorization of any or all joint owners for any further payments or deliveries. Joint Account - No Survivorship (As Tenants In Common) - is owned by two or more persons, but none of you intend (merely by opening this account) to create any right of survivorship in any other person. We encourage you to agree and tell us in writin9 of the percentage of the deposit contributed by each of you. This mformatlon will not, however, affect the "number of signatures" necessary for withdrawal. Convenience Account ~ governed by New York Banking Law 678. See separate disclosure. Revocable Trust Account - If two or more of you create such an account, you own the account jointly with survivorship. Beneficiaries acquire the right to withdraw only if: (1) all persons creating the account die, and (2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, such beneficiaries will own this account in equal shares, without right of survivorship. The person(s) creating this account type reserves the right to: (1) change beneficiaries, (2) chan~e account types, and (3) withdraw all or part of the deposit at any tIme. Corporate. Partnership, and other Oraanizatlonal Accounts ~ We will usually require a separate authorization form designating the person permitted and conditions required for withdrawal from any account in the name of a legal. entity such as a partnership, corporation, or other organization. We will honor such authorization according to its terms until it is amended or terminated in writing by the governing body of such organization. STOP-PAYMENTS - A stop.payment order must be given in the manner required by law, must be received in time to give us a reasonable opportunity to act on it, and must precisely identify the number, date and amount of the item, and the payee. We will honor a stop-payment request by the person who signed the particular item, and, by any other person, even though such other person did not sign the item, if such other person has an equal or greater right to withdraw from this account than the person who signed the item in question, A release of the stop.payment request may be made only by the person who initiated the stop.payment. AMENDMENTS AND TERMINATION - We may change any term of this agreement. Rules governing changes in interest rates have been provided separately. For other changes we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Notice from us to anyone of you is notice to all of you. STATEMENTS - If you do not notify us of an unauthorized signature or alteration within a reasonable time (not to exceed 14 days) after we send or make available to you your statement and items: (1) you cannot assert the unauthorized sIgnature or alteration against us, even if we are unable to show a loss due to your failure, and (2) you cannot assert any unauthorized signatures or alterations by the same wrongdoer on items paid by us after the reasonable time mentioned above elapses, but before we receive your notice. We lose these protections if we fail to exercise ordinary care in paying an item with an unauthorized signature or alteration, unless you do not notify us of the problem within 60 days of when we send or make available to you the statement and items. You must report any other problem (e.g., erroneous statement or passbook entry, missing signature, unauthorized endorsement, etc.) within this 60-day period or lose your right to assert the problem against us. DIRECT DEPOSITS - If, in connection with a direct deposit plan, we deposit any amount in this account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from this account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability. TEMPORARY ACCOUNT AGREEMENT - If this option is checked on the account records, this is a temporary account agreement. Each person who signs this signature card (except as indicated to the contrary on the account records) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time. SET-OFF - You each agree that we may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt owed to us now or in the future, by any of you having the right of withdrawal, to the extent of such persons' or legal entity's right to withdraw. If the debt arises from a note, "any due and payable debt" includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note. This right of set.off does not apply to this account if: (a) it is an Individual Retirement Account or other tax-deferred retirement account, or (b) the debt is created by a consumer credit transaction under a credit card plan, or (c) the debtor's right of withdrawal arises only in a representative capacity, or (d) social security or supplemental security income payments are deposited directly into this account pursuant to an agreement with us which permits such direct deposit without presentation to you at the time of deposit. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of set-off. FACSIMILE SIGNATURES - You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen on page 1 of this agreement, or that are filed separately with us, and contain the required number of signatures for this purpose. @1983,1990, 1991 Bankers Systems, Ine.. St. Cloud, MN (1-800-397-2341) Form MP5C-LAZ-NY 12f9f92 (/NIue 2 of 2) '\ BRIDGEHAMPTON NATIONAL BANK 54970 MAIN ROAD SOUTHOLD NY 11971 516.765.1500 TRUTH IN SAVINGS DISCLOSURE FOR TIME ACCOUNTS Terms following a IXl apply only if checked. Acet: 3650 PERSONAL Acet #: 520006651 Date: 06/29/95 IXI The interest rate and annual percentage yield stated below are accurate as of the date printed above. If you would like more current rate and yield information please call us at 516-765-1500 This disclosure contains the rules which govern your deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular. IXI FIXED RATE [iI The interest rate for your account is an annual percentage yield of 5.23 this rate_ o The interest rate and account depend upon the these rates 5.1000 % with %. We will pay annual percentage yield for your applicable rate tier. We will pay o VARIABLE RATE D The interest rate for your account is 0.0000 % with an annual percentage yield of %. Your interest rate and annual percentage yield may change. D The interest rate and annual percentage yield for your account depend upon the applicable rate tier. The interest rate and annual percentage yield for these tiers may change. Determination of rate D At our discretion, we may change the interest rate on your account. D The interest rate for your account D The fixed initial rate is not determined by this rule. D The initial interest rate on your account Subsequent rates Frequency of rate change D We may change the interest rate on your account_ D Your initial Interest rate will not change We may change the interest rate on your account at that time and thereafter. (11992 Bankers Systems, Inc., St. Cloud. MN (1-800-397-2341) Form T5D-TIME 11/16/92 Limitations on rate changes D The interest rate for your account will not by more than each D The interest rate will not be less than 0.0000 or more than 0.0000 %. D The interest rate will not % the interest rate initially disclosed to you. Compounding and Crediting [iI Frequencv. Interest WILL compounded DAILY Interest will be credited to your account AT MATURITY be D Effect of closing an account - If you close your account before interest is credited, you receive the accrued interest. Minimum Balance Requirements [i. To open the account. You must deposit at least $ 1.000.00 to open this account. Balance Computation Method [iI Daily Balance Method. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. D Average daily balance method. We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is Accrual of interest on noncash deposits D Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). IXIlnterest begins to accrue ON THE BUSINESS DAY ITEMS ARE DEPOSITED you deposit noncash items (for example, checks). Time requirements lXI Your account will mature on 06/28196 D Your account will mature in D Your account has no definite maturity date. To withdraw any or part of this deposit without penalty. we must receive at least written notice from you of your intention to make a withdrawal. The notice must specify the exact amount and date of the intended withdrawal. Interest will no longer accrue after the withdrawal date specified in your notice on the amount specified in your notice. We may terminate this account by mailing a notice to you of our intention to terminate at least ten days before the termination date. The date of intended withdrawal of the last funds in the account, or the termination date, is considered to be the maturity date. (page 1 of 2) ", Time Deposit Withdrawal Limitations o Principal: o Interest: IXIlnterest Timing: You can withdraw interest AT MATURITY !Xl Withdrawal of interest before maturity. percentage yield assumes interest will remain on maturity. A withdrawal will reduce earnings. The annual deposit until Early Withdrawal Penalty o The fee we impose will equal OWe impose a penalty of seven days interest made within the first six days after the if the withdrawal is deposit. o If you withdraw some of your funds before maturity, the interest rate for the remaining funds in your account will be_ 0.0000 % with an annual percentage yield of 0.00 %. IXIIF YOU WITHDRAW FUNDS PRIOR TO MATURITY, A PENALTY OF 90 DAYS COMPOUNDED INTEREST WILL BE IMPOSED o The interest rate we will use to calculate the interest forfeiture will be: . We will charge the penalty first against any interest then in the account, and any excess will be deducted from the amount you withdraw. o Minimum Balance Accounts. We reserve the right to treat any withdrawal which would reduce the balance remaining in the account below the required minimum initial deposit or minimum balance as a withdrawal of the entire account balance and calculate the amount of the penalty accordingly. o We will permit an early withdrawal without imposing this penalty if this is a Keogh account or if this is an I.R.A. account and the request for withdrawal is made within seven days of establishing the account. However, the amount of interest earned on the amount withdrawn will be forfeited. This forfeiture will only apply to a Keogh account if the withdrawal is made within the first six days after deposit. Additions to Account o You may make no more than deposits into your account each o You may only make deposits into your account o You may make unlimited deposits into your account. lXI You may not make any deposits into your account until maturity. o The minimum amount you can deposit is $ 0.00 o The maximum amount you can deposit is $ 0.00 iP 1992 Bankers Systems, Inc., St. Cloud, MN (1-800-397-2341) Form TSD-TIME 11/19/92 o Renewal Policy o Non-automatically renewable time accounts. This account will not renew automatically at maturity. If you do not renew the account, IXI Automatically renewable. This account will automatically renew at maturity. IX! You wilt have SEVEN days after the maturity date to withdraw funds without penalty. IX! This account will not renew if you withdraw the funds on the maturity date or if we receive written notice from you on or before the maturity date of your intention not to renew. o There is no grace period following the maturity of this account to withdraw funds without penalty. o We can prevent renewal if we mail notice to you at least days before maturity. RENEWAL TERMS fX] Each renewal term will be the same as the original term, beginning on the maturity date. Interest will be calculated on the same basis as during the original term. o Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will Bonuses o You will as a bonus o You must maintain a minimum of $ 0.00 to obtain the bonus. o To earn the bonus, o PRE-MATURITY NOTICE - Your account will mature on _ 06/28/96 . If the account renews, the new maturity date will be o The interest rate for the renewed account will be 0.0000 % with an annual percentage yield of %. o The interest rate and annual percentage yield have not yet been determined. They will be available on Please call interest rate account. to learn the and annual percentage yield for your new (page 2 of 2) ", cfJd 0500001060 AccountNumber 500001060 BridgehamptonNational Bank A WERNER LADEL JR C RICHARD J CRON C FARHVEU SUBDIVISION o BOX, :L179 U SOUTH OLD NY 11971 N T H o L D E R Bridgehampton . . National Bank Bridgehampton · Main Street. (516) 537-1000 Bridgehampton. Snake Hollow Rd. (516) 537-1200 Southampton · 425 County Rd. 39 . (516) 283-1286 East Hampton .'26 Park Place. (516) 324-8480 Southold. Feather Hill, Main Rd." (51(,) IGS-1S00 Mattituck" Mattituck Plaza, Main Rd"_(516) 298-0190 0500001060 ACCOUNT ''1 NUMBER -- , O....T. WITMOIIIAWAI. O.~O.IT INT.".ST .AI......NC. T....I.." A 2 3 6/28/96 $50.541.11 $50,541.11 501024 1 4 5 . 7 . . 10 11 12 PLEASE NOTI FY US OFANY - CHANGE OF ADDRESS 13 14 15 ,. 17 ,. " 20 21 1- 22 23 24 ALWAYS VERIFY ENTRY BEFORE LEAVING WINDOW Bridgehampton National Bank " BACK PAGE 01 OF 02 C E R T I F I CAT E o F D E P 0 SIT T RAN S C RIP T S TAT E MEN T WERNER L ADEL JR RICHARD J CRON BOX 1179 FARMVEU SUBDIVISION SOUTHOLD NY 11971 Account: 520006651 CYCLE: 999 06/29/95 Thru 06/27/96 Balance Last Statement .00 Credits Debits Number 2 Amount 50,547.11 Number o Amount .00 Balance This Statement 50,547.11 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Description Debits Credits Date Balance -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- BALANCE FORWARD DEPOSIT INTEREST 06/29/95 48,000.00 06/29/95 2,547.11 06/27/96 .00 48,000.00 50,547.11 RCV C0949 I!RIDGEHAMPTON NATIONAL BANK 54970 MAIN ROAD SOUTHOLD NY 11971 516-765-1500 TRUTH IN SAVINGS DISCLOSURE Terms following a ~ apply only if checked. Acet: PERSONAL PASSBK Acet #: 500001060 Date: 06/2Br96 !Kl The interest rate and annual percentage yield stated below are accurate as of the date printed above. If you would like more current rate and yield information please call us at This disclosure contains the rules which govern your deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular. We reserve the right to at any time require not less than SEVEN days notic~ in writing before any withdrawal from an interest bearing account. o FIXED RATE o The interest rate for your account is an annual percentage yield of this rate We will not decrease this rate unless we first give you at least 30 days notice in writing. 0.0000 % with %. We will pay D The interest rate and annual percentage yield for your account depend upon the applicable rate tier. We will pay these rates We will not decrease these rates unless we first give you at least 30 days notice in writing. !l(] VARIABLE RATE KJ The interest rate for your account is 2.5000 % with an annual percentage yield of 2.53 %. Your interest rate and annual percentage yield may change. D The interest rate and annual percentage yield for your account depend upon the applicable rate tier. The interest rate and annual percentage vield for these tiers may change. Determination of rate iKl At our discretion. we may change the interest rate on your account. o The interest rate for your account D The fixed initial rate is not determined by this rule. D The initial interest rate on your account Subsequent rates Frequency of rate change ~ We may change the interest rate on your account_ DAilY ~ Your initial interest rate will not change (Sl1992 Bankers Systems. Inc.. St. Cloud, MN {1-800-397-23411 Form TSD 9/22f93 We may change the interest rate on your account at that time and thereafter. Limitations on rate changes o The interest rate for your account will not by more than each o The interest rate will not be less than 0.0000 % or more than 0.0000 %, o The interest rate will not the interest rate initially disclosed to you. Minimum Balance Requirements !Xl To open the account. You must deposit at least $ 100.00 to open this account. IKl To avoid imposition of fees. To avoid the imposition of the must meet IKl A SERVICE you following requirements: of $ 5.00 will be imposed every MONTH if the balance in the account falls below $ 100.00 any day of the MONTH OA ~$ o~ will be imposed every if the average daily balance for the falls below $ 0.00 . The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is To avoid the imposition of the must meet OA you following requirements: of $ 0.00 will be imposed for transaction (withdrawal, check paid, automatic transfer or payment out of your account) if the balance in the account falls below $ any day of the 0.00 OA of $ 0.00 will be imposed for ____. transaction (withdrawal, check paid, automatic transfer or payment out of your account) if the average daily balance for the faits below $ 0.00 . The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is KJ To obtain the annual percentage yield disclosed. KJ You must maintain a minimum balance of $ 100.00 in the account each day to obtain the disclosed annual percentage yield. o You must maintain a minimum average daily balance of $ 0.00 to obtain the disclosed annual percentage yield. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is (page 1 of 2) Compounding and Crediting IKl Frequency - Interest WILL be compounded OAILY Interest will be ON THE LAST OAY OF EACH MONTH IKl Effect of closing an account ~ If you close your account before interest is credited. you WILL NOT receive the accrued interest. Balance Computation Method ~ Daily Balance Method. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. o A verage Daily Balance Method. We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividin.g that figure by the number of days in the period. The period we use is Accrual of interest on noncash deposits D Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example. checksl. IKllnterest begins to accrue ON THE BUSINESS DAY you deposit noncash items (for example. checks). !3ankers Systems. Inc.. St. Cloud. MN 11-800-397-234.11 Form TSD 9/22/93 Bonuses D You will as a bonus D You must maintain a minimum of $ 0.00 to obtain the bonus. o To earn the bonus, Transaction Limitations D The minimum amount you may deposit is $ 0.00 D The minimum amount you may withdraw is $ 0.00 D You may only make each transfers from your account by checks to third parties and The minimum withdrawal is $ D You may only make statement cycle. D You may only make A TM your account each statement cycle. 0.00 deposits into your account each o You may only make preauthorized transfers your account each statement cycle. (page 2 of 2) YO~~ DEPOSIT ACCOUNT TERMS AND CONDITIONS AGREEMENT - These terms govern the operation of this account unless varied or supplemented in writing. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so that the singular includes the plural and the plural includes the singular. As used in this form, the words "we," "our," or "us" mean the financial institution and the words "you" or "your" mean the account holder(s). This account may not be transferred or assigned without our written consent. Much of our relationship with our deposit customers is regulated by state and federal law, especially the law relating to negotiable instruments, the law regulating the methods of transferring property upon death and the rights of surviving spouses and dependents, the law pertaining to estate and other succession taxes, the law regarding electronic funds transfer, and the law regarding the availability of deposited funds. This body of law is too large and complex to be reproduced here. The purpose of this form is to: {1lsummarize the rules applicable to the more common transactions; (2lestablish rules to govern transactions or circumstances which the law does not regulate; and (3)establish rules for certain events or transactions which the law already regulates but permits variation by agreement. We may permit some variations from this standard agreement, but any such variations must be agreed to in writing either on our signature card for the account or in some other written form. LIABILITY - Each of you agrees, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges that may be imposed. You authorize us to deduct these charges as accrued directly from the account balance. You also agree to pay additional reasonable charges we may impose for services you request which are not contemplated by this agreement. Each of you also agrees to be jointly and severally liable for any account deficit resulting from charges or overdrafts, whether caused by you or another authorized to withdraw from this account, and the costs we incur to collect the deficit including, to the extent permitted by law, our reasonable attorneys' fees. DEPOSITS - Any items, other than cash, accepted for depOSit (including items drawn "on us") will be given provisional credit only until collection is final {and actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars}. Subject to any other limitations, interest will be paid only on collected funds, unless otherwise provided by law. We are not responsible for transactions initiated by mail or outside depository until we actually record them. All transactions received after our "daily cut-off time" on a business day we are open, or received on a day in which we are not open for business, will be treated and recorded as if initiated on the next following business day that we are open. WITHDRAWALS - Unless otherwise clearly indicated on the account records, anyone of you who signs this form including authorized signers, may withdraw or transfer all or any part of the account balance at any time on forms approved by us. Each of you (until we receive written notice to the contrary) authorizes each other person signing this form to endorse any item payable to you or your order for deposit to this account or any other transaction with us. We may charge against your account a check, even though payment was made before the date of the check, unless you have given us written notice of the postdating. The fact that we may honor withdrawal requests which overdraw the finally collected account balance does not obligate us to do so, unless required by law. Withdrawals will first be made from collected funds, and we may, unless prohibited by law or our written policy, refuse any withdrawal request against uncollected funds, even if our general practice is to the contrary. We reserve the right to refuse any withdrawal or transfer request which is attempted by any method not specifically permitted, which is for an amount less than any minimum withdrawal requirement, or which exceeds any frequency limitation. Even if we honor a nonconforming request, repeated abuse of the stated limitations lif any) may eventually force us to close this account. We will use the date a transaction is completed by us (as opposed to the day you initiate it) to apply the frequency limitations. On interest-bearing accounts other than time deposits, we reserve the right to require at least seven days' written notice before any withdrawal or transfer. Withdrawals from a time deposit prior to maturity or prior to the expiration of any notice period may be restricted and may be subject to penalty. See your notice of penalties for early withdrawal. OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION - You intend these rules to apply to this account depending on the form of ownership and beneficiary designation, if any, specified on page 1. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds. Individual Account - is owned by one person. Joint Account - With Survivorship (And Not As Tenants In Common) 4 is owned by two or more persons. Deposits and any additions to the account are the property of the owners as joint tenants with right of survivorship. This means that we may release the entire account to any owner during the lifetime of all owners. We may honor withdrawal requests (Including checks) from any owner during the lifetime of all owners. We may be required to release money in the account to satisfy a judgment against or other vaiid debt incurred by any owner. We may honor withdrawal requests (including checks) from any surviving owner after the death of any owner, and may treat the account as the sole property of the surviving owner(s). Unless an owner directs us by written notice not to honor the withdrawal request (including checks) of an owner we will not be liable for doing so. After we receive such a notice, we may require the written authorization of any or all {pagt120f3} @19B3. 1990. 1991 Bankers Svstems.lnc.. 51. Cloud, MN (1-800-397-23411 Form MPSC.LAZ-NY 8/23/94 joint'lowners for any further payments or deliveries. Joint Account - No Survivorship (As Tenants In Common) - is owned by two or more persons, but none of you intend Imerely by opening this account) to create any right of survivorship in any other person. We encourage you to agree and tell us in writing of the percentage of the deposit contributed by each of you. This information will not, however, affect the "number of signatures" necessary for withdrawal. Convenience Account governed by New York Banking law 678. See separate disclosure. Revocable Trust Account . If two or more of you create such an account, you own the account jointly with survivorship. Beneficiaries acquire the right to withdraw only if: (1) all persons creating the account die, and (2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, such beneficiaries will own this account in equal shares, without right of survivorship. Any such beneficiary may withdraw all or any part of 'the account balance. The person(s) creating this account type reserves the right to: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the deposit at any time. Corporata, Partnership, and other Organizational Accounts - We will usually require a separate authorization form designating the person permitted and conditions required for withdrawal from any account in the name of a legal entity such as a partnership, corporation, or other organization. We will honor such authorization according to its terms until it is amended or terminated in writing by the governing body of such organization. STOp.PA YMENTS - A stop-payment order must be given in the manner required by law, must be received in time to give us a reasonable opportunity to act on it, and must precisely identify the number, date and amount of the item, and the payee. We will honor a stop-payment request by the person who signed the particular item, and, by any other person, even though such other person did not sign the item, if such other person has an equal or greater right to withdraw from this account than the person who signed the item in question. A release of the stop-payment request may be made only by the person who initiated the stop-payment. AMENDMENTS AND TERMINATION - We may change any term of this agreement. Rules governing changes in interest rates have been provided separately. For other changes we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Notice from us to anyone of you is notice to all of you. STATEMENTS - You must examine your statement of account with "reasonable care and promptness." If you discover any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, jf you fail to do either of these duties you will bear the entire loss. Your loss could include items on the statement, or other items with unauthorized signatures or alterations by the same wrongdoer which we pay after the time for "reasonable care and promptness" expires and before we receive notice from you. You agree that the time that you have to examine the statement and report to us depends on the circumstances, but that such time will not, in any circumstance, exceed 14 days from when the statement is first made available to you. We lose these protections if you establish that we failed to exercise ordinary care in paying an item with an unauthorized signature or alteration. You further agree that if you fail to report any unauthorized signatures, alterations, forgeries or any other errors within 60 days of when we first make the statement available to you, you cannot assert a claim against us on any item in the statement. This 60 day limitation is without regard to whether we exercised ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section. DIRECT DEPOSITS - If, in connection with a direct deposit plan, we deposit any amount in this account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from this account or from any other account you have with us, without p"rior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability. TEMPORARY ACCOUNT AGREEMENT - If this option is checked on the account records, this is a temporary account agreement. Each person who signs this signature card (except as indicated to the contrary on the account records) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time. SET-OFF - You each agree that we may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt owed to us now or in the future, by any of you having the right of withdrawal, to the extent of such persons' or legal entity's right to withdraw. If the debt arises from a note, "any due and payable debt" includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note. This right of set-off does not apply to this account if: la) it is an Individual Retirement Account or other tax-deferred retirement account, or Ib) the debt is created by a consumer credit transaction under a credit card plan, or Ic) the debtor's right of withdrawal arises only in a representative capacity, or (d) social security or supplemental security income payments are deposited directly into this account pursuant to an agreement with us which permits such direct deposit without presentation to you at the time of deposit. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of set-off. FACSIMilE SIGNATURES - You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen on page 1 of this agreement. or that are filed separately with us, and contain the required number of signatures for this purpose. (fH/ge30(3) ~1983, 1990, 1991 Bankers Systems. Inc., 51. Cloud. MN (1.800-397-23411 Form MPSC-lAZ.NY 8J23/94 JUDITH T. TERRY TOWN CLERK Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (516) 765-1823 Telephone (516) 765-1800 REGISTRAR OF VITAL STATISTICS MARRIAGE OFFICER RECORDS MANAGEMENT OFFICER FREEDOM OF INFORMATION OFFICER OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD June 21, 1996 To: Melissa Spiro From: Judith Terry Re: Farmveu Ass iates Performance Guarantee Today I met with Ann Nestor, Bridgehampton National Bank, and made arrangements for closeout of the $48,000 Letter of Credit and transfer of the funds to a Passbook Savings Account on June 28, 1996. The transaction will take place on the 28th and Ann will deliver the passbook to me. ' ARI IJGEI,^MPTON NI\TIONI\L, BI\NK SAFEKEEP I NG RECEIP'1' CERT I F I CI\TI;:8 OF lJEPOSIT MATURITY DATE / /, (; /c; . {;' j-J! f / fc~ PI\SSBOOKtl{;' {! OO?t~-~ALANCE if /Y-t / ,IlIMBO CD II PENEWI\IJ OR CI\NCEl,LATION (CHECK ONE) 1\1 >111 'I' rONI\I, INSTRUCTIONS: ,l).1tl.!U (<c t Itll.dtl=~t.?f-U'-- --z; f~t.J..~ '&A..,.UtVr? , 4- ('TilER SAFEKEEPING ITEMS: 1'".sCRIPTION: IP.sTRUCTIONS: CIISTOMER SIGNATURE /;t::t-dd J.-::J~>7("Y- I IIOl,D IN SAFEKEEPING!' MAIL TO CU~rOMER ,J -~ ---~~- 8u-~tJX / . Vie! PLANNING BOARD MEMBERS RICHARD G. WARD Chairman GEORGE RITCHIE LATHAM, JR. BENNETT ORLOWSKI, JR. WILLIAM J. CREMERS KENNETH L. EDWARDS Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (516) 765-3136 Telephone (516) 765-1938 PLANNING BOARD OFFICE TOWN OF SOUTHOLD CERTiFIED MAil May 6, 1996 Richard J. Cron, Esq. P.O. Box 953 Cutchogue, NY 11935 Re: Performance Guarantee for Farmveu Associates, Mattituck, New York SCTM# 1000-121-3-2 Dear Mr. Cron: The performance guarantee for the subdivision of Farmveu Associates, (Account Number 520006651 with the Bridgehampton National Bankl is due to expire on June 28, 1996. Since the improvements have not been completed, you must extend the guarantee for at least another year. An extension of this guarantee must be submitted to this office before the expiration date. Due to the timing of the Town Board's meetings, if the extension is not received by Noon of June 21,1996, there will be a resolution before the Town Board at it's June 25, 1996 meeting to authorize the Town to draw on the letter of Credit If the extension is not received by Noon of June 27,1996. Please contact this office if you have any questions regarding the above. Sincerely, V, f:~r Planner cc: JUdy Terry ~~, ~ ~;~~~ ~.."",,,.......:,..,w.~,.<;.<r'''''_''''''''",,,,,c,,,,,,..,.,,.,,,,~_~,"_,~_...~,,,,,. ~ Bridgehampton National Bank 2488 Montauk Highway. P.O. Box 3005. Bridgehampton, New York 11932. (516) 537-1000. FAX (516) 537-2021 - Dear Depositor, Your Certificate of Deposit will be maturing within the next 30 days as indicated on the enclosed notice. Unless we are instructed otherwise, your certificate will be renewed at maturity. The interest rate and annual percentage yield have not yet been determined. They will be available on the maturity date. You may call your branch office to learn the interest rate and annual percentage yield for the renewal. We also have additional Certificates of Deposit with competitive rates and a variety of terms, all carrying the added security of FDIC Insurance. We at Bridgehampton National Bank value your business and look forward to serving your complete banking needs. Sincerely, D. 1- ~ Diane Reutershan Vice President Bridgehampton 537-1000 East Hampton 324-8480 Southampton 283-1286 Southold 765-1500 Mattiluck 298-0190 Montauk 668-6400 f e Bridgehampton C National (516) 537-1000 Bank 2488 Montauk Highway. Box 3005 Bridgehampton, NY 11932-3005 ~~~.::=~""->. 8~~:~.;~~:::i~~7~_:~' l~,,;r NOTICE ~:.):~I'R8"'flmUII=_ftl!:l~EW~.: - I ) I TERM 365 DAYS WERNER L ADEL JR RICHARD J CRON BOX 1179 FARMVEU SUBDIVISION SOUTHOLD NY 11971 CURRENT RATE 5.1000 ;( J - -. ". " BRIOGEHAMPTON NAME: 365 D PERSONAL CERTIFICATE NL/I"IBER: TAX 10 NUMBER: NOTICE OF APPROACHING RENEWAL OS/24/96 NATIONAL BANK -.. BRIDGEHAMPTClN, N. Y. 11932 WERNER L ADEL JR 52000665:1. 104 -34 --4550 YOUR CERTIFICATE WILL. MATURE ON 06/28/96. INTEREST WILL BE COMPOUNDED ON A DAILY BASIS. INTEREST WILL BE CREDITED TO YOUR CERTIFICATE AT MATURITY. THE CURRENT BALANCE OF YOUR 365 0 PERSONAL CERTIFICATE IS 48,000.00. IF THE CERTIFICATE RENEWS, THE NEW MATURITY DATE WILL BE 06/28/'37. THE INTEREST RATE AND ANNUAL. PERCENTAGE YIELD HAVE NOT YET BEEN DETERMINED. THEY WILL. BE AVAILABLE ON THE MATURITY DATE. YOU MAY CALL YOUR BRANCH OFFICE TO LEARN THE INTEREST RATE AND ANNUAL PERCENTAGE YIELD FOR THE RENEWAL. '- ", -'. ~g#- .)f~ cvnd if~ 1.J// -f/()() ~ 5&"~ 5/6' ~f 5ff""", ~~ 9..LJ. ~_ .95J 5&"~ .A:'<?J! //.9.15-tJtJ.J2 May 24,1996 Judith Terry, Town Clerk Town Hall, 53095 Main Road Southold, New York 11971 Re: Performance Guarantee/Farmveu Associates Account No. 520006651/Bridgehampton National Bank Expiration date- June 28,1996 Dear Mrs. Terry: This letter will confirm our telephone conversation of this date relative to the above captioned. In the light of the fact that Farmveu Associates intends to complete the remaining items of improvements under its performance guarantee this year, it is requested that upon the expiration date (6/28/96) of the existing Certificate of Deposit with the Bridge- hampton Bank, that such fund be maintained in a Saving Account with the same safeguards as to withdrawal as now exist. This will ensure ready access to the funds for payment of items as completed and approved without incurring withdrawal penalties. In order to satisy the requirements of the Planning Board we shall require a letter from the Bridgehampton Bank to the Planning Board certifying as to the foregoing arrangement of the performance guarantee for an additional year, unless sooner terminated upon the written approval of the Town Clerk and the Planning Board. please note that in accordance with the letter of the Planning Board dated May 6,1996, it is essential that the extension of the performance guarantee be received by that Board c/o Melissa Spiro, Planner no later than Noon of June 21,1996 I appreciate your attention to this matter and if there is anything further that you require, please do not hesitate to contact me. RJC:jc cc: Melissa Spiro, planner Ann Nestor, Vice-President Bridgehampton National Bank In The Amount Of Forty Eight thousand 0/100.... ACCOUNT TYPE AND TERMS - Only the boxes that are checked and the lines that are filled in apply. Term (Initial) 365 DAYS D Day Minimum Notice D Single Maturity Maturity Date (First) 06/28/96 DFixed Rale D Min. Baiance Req. $ Inlerest Rale (Initial) 5.1000 % D Variable Rale: Initiai Index Rale Compounded Daily Minimum Rate Interest Calculated 365 365 Adjustment Frequency No. Endorsements Required For Withdrawal Rate Fonnula Inlerest Paid At Maturity (a) IXl By Compounded (b) D By Deposit To Acct. No. I This Certificate Evidences A Deposit In The Name(s) Of: WERNER L ADEL JR RICHARD J CRON FARMVEU SUBDIVISION, PO BOX 1179 SOUTHOLD Town of Southold NY 11971 GENERALLY: "Well and "US" means the financial institution. "You" and "yourll means the depositor(s). "Certificate" means both this original instrument as well as the deposit it shows. This certificate (and the account it represents) or minimum notice account may not be transferred or assigned without our prior written consent and is not negotiable. VARIABLE INTEREST RATE: Your deposit will earn interest at the initial interest rate stated on this certificate to the first adjustment date. Then, and on each succeeding adjusunent date, the rate this cenificate will earn is subject to be increased or decreased according to the fonnula described on this certificate. The rate will remain the same between interest adjustment dates. If the "first adjustment dateW is phrased in terms of windex change" this means the first adjusunent date and the rate adjustment frequency after the first adjustment date are not regularly scheduled. In this case, the rate this certificate will earn will be adjusted any time the "index" changes. The interest rate we will pay on this certificate will not,. however, be greater than the stated maximum rate (if any) or be less than the stated minimum rate (if any) regardless of changes in the index rate. COMPOUNDING: The compounding frequency and interest calculation method will not change during the term of the certifICate, regardless of adjusunents to the interest rate, until we give reasonable notice to you of such change. DEFINED DAY MINlMUM NOTICE ACCOUNT: If we have specified a number of days and checked the minimum notice box, then this account has no definite maturity date. To withdraw aU or any portion of the account balance without penalty, you must give us notice of your intention to withdraw funds from this account. We must acmally receive the notice at least the minimum. number of days stated above before you may make a withdrawal. Your notice may be in writing or by such other means as we may pennit,. and must specify the amount and date of intended withdrawal. Interest will no longer accrue after the withdrawal date specified in your notice, on that portion of the account balance then available for withdrawal. Ceniticale Number 520006651 SSN/TIN S 104-34-4550 D/O/B AccQuntNumber 520006651 06/29/1995 48,000.00 Dale dollars $ !Xl Automatically Renewable 0.00 % Maximum Rate % First Adjusnnent Date % BY 516-765-1500 We may terminate this account by written notice to you of our intention to do so, mailed (or otherwise delivered in person) not less than 10 days before the termination date, and no interest will accrue after the termination date. SINGLE MAnJRITY: If the single maturity box is checked, you should present this cenificate promptly at mamrity for paymenL No interest will accrue on this certificate after the maturity date. AUTOMATIC RENEWALS: If the automatic renewal box is checked, this certificate will be automatically renewed after the stated maturity date for successive terms, each equal to the original term. The interest rate will be the same we offer on new certificates on the mamrity date which have the same tenn, minimum balance (if any) and other features as this original certificate. You may call us on or shortly before the mamrity date and we will tell you what the interest rate will be for the next renewal tenn. The automatic renewal of this certificate may be prevented if one of the following things happens: (1) This certificate is personally presented for payment on a maturity date or within 10 days after the marority date; (2) We receive written notice from you before a mamrity date of their intention to cash in this certificate: (3) Not less than 14 days before a marority date we mail to you a written notice of our intention to casb in this certificate on a maturity date. YOUR DEPOSIT WILL NOT EARN INTERESI' AFI'ER TIlE MATURITY DATE UNDER THIS CERTIFICATE (UNLESS IT IS RENEWED). Endorsements (Sign only when requesting withdrawal): x x If any withdrawal reduces the account balance below the "minimum balance required, W the remaining balance in the account will earn interest at the annual rate of % until the account balance again equals or exceeds the "minimum balance required." o Additions: If checked. you may make additions to this account in an amount equal to or greater than $ 0.00 at any time. D Additions To Minimmn Notice Accounts: An addition to a minimum notice account will not be permitted if at the time of the proposed addition, a request for withdrawal is pending which would, within the minimum notice period following the proposed addition, reduce the account balance below the minimum balance required. If this account has a minimum notice of at least seven and not more than 31 days, additional deposits must remain in this account for a period equal to at least the notice period before such funds may be withdrawn without the imposition of an early withdrawal penalty. DAdditions to Single Maturity and Automatically Renewable Accounts (check one): o Your addition must remain on deposit for a period of time which is not less than the original tenn of this certificate. This means that your next (and each succeeding) maturity date will be the date wbich follows the date of the addition by a period of time equal to the original tenn of this account. o Your addition must remain on deposit for a period of time which is not less than the original tenn of this certificate. This means that the first (but not succeeding) marority date for the addition will be the second regularly scheduled mamrity date following the date of the addition. Thereafter, all funds on deposit for the period of time equal to at least the original tenn will have the same marority date. D Your addition will not extend the marority of all, or any portion, of the funds on deposit. Additions will earn interest from the date of deposit, and will mamre at the same time as the first deposit. 10 1982. 1990 Bankers Systems, Inc., St. Cloud. MN {1-800-397-2341} Form 7131CDLAZ-NY 4112/93 (page 1 of 11 7/31 CERTIFICATE OF DEPOSIT /t!II1d.:M -J/~ t/ . yol1R DEPOSIT ACCOUNT TERMS AND CONDITIONS AGREEMENT - These terms govern the operation of this account unless varied or supplemented in writing. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so that the singular includes the plural and the p'lural includes the singular. As used in this form, the words "we," 'our," or "us" mean the financial institution and the words "you" or "your" mean the account holder(s). This account may not be transferred or assigned without our written consent. Much of our relationship with our deposit customers is regulated by state and federal law. especially the law relating to negotiable instruments, the law regulating the methods of transferring property upon death and the rights of surviving spouses and dependents, the law pertaining to estate and other succession taxes, the law regarding electronic funds transfer, and the law regarding the availability of deposited funds. This body of law is too large and complex to be reproduced here. The purpose of this form is to: (1) summarize the rules applicable to the more common transactions; (2) establish rules to govern transactions or circumstances which the law does not regulate; and {31 establish rules for certain events or transactions which the law already regulates but permits variation by agreement. We may permit some variations from this standard agreement, but any such variations must be agreed to in writing either on our signature card for the account or in some other written form. LIABILITY - Each of you agrees, for yourself (and the person or entity you represent if you sign as a rer.resentative of another) to the terms of this account and the schedu e of charges that may be imposed. You authorize us to deduct these charges as accrued directly from the account balance. You also agree to pay additional reasonable charges we may impose for services you request which are not contemplated by this agreement. Each of you also agrees to be jointly and severally liable for any account deficit resulting from charges or overdrafts, whether caused by you or another authorized to withdraw from this account, and the costs we incur to collect the deficit including, to the extent permitted by law, our reasonable attorneys' fees. DEPOSITS ~ Any items, other than cash, accepted for deposit (including items drawn "on us") will be given provIsional credit only until collection is final (and actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars). Subject to any other limitations, interest will be paid only on collected funds, unless otherwise provided by law. We are not responsible for transactions ini'tiated by mail or outside depository until we actually record them. All transactions received after our "daily cut~off time" on a business day we are open, or received on a day in which we are not open for business, will be treated and recorded as if initiated on the next following business day that we are open. WITHDRAWALS - Unless otherwise clearly indicated on the account records, anyone of you who signs this form including authorized signers, may withdraw or transfer all or any part of the account balance at any time on forms approved by us. Each of you (until we receive written notice to the contrary) authorizes each other person signing this form to endorse any item payable to you or your order for deposit to this account or any other transaction with us. The fact that we may honor withdrawal requests which overdraw the finally collected account balance does not obligate us to do so, unless required by law. Withdrawals will first be made from collected funds, and we may, unless prohibited by law or our written policy, refuse any withdrawal request against uncollected funds, even if our general practice is to the contrary. We reserve the right to refuse any withdrawal or transfer request which is attempted by any method not specifically permitted, which is for an amount less than any minimum withdrawal requirement, or which exceeds any frequency limitation. Even if we honor a nonconforming request, repeated abuse of the stated limitations (if any) may eventually force us to close this account. We will use the date a transaction is completed by us (as opposed to the day you initiate it) to apply the frequency limitations. On interest~bearing accounts other than time deposits, we reserve the right to require at least seven days' written notice before any withdrawal or transfer. Withdrawals from a time deposit prior to maturity or prior to the expiration of any notice period may be restricted and may be subject to penalty. See your notice of penalties for early withdrawal. OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION - These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. Individual Account - is owned by one person. Joint Account ~ With Survivorship (And Not As Tenants In Common) . is owned by two or more persons. Deposits and any additions to the account are the property of the owners as joint tenants with right of survivorship. This means that we may release the entire account to any owner during the lifetime of all owners. We may honor withdrawal requests (including checks) from any owner during the lifetime of all owners. We may be required to release money in the account to satisfy a judgment against or other valid debt incurred by any owner. We may honor withdrawal requests (inCluding checks) from any surviving owner after the death of any owner, and may treat the account as the sole property of the surviving owner(s). Unless an owner directs us by written notice not to honor the withdrawal request (including checks) of an owner we will not be liable for doing so. After we receive such a notice, we may require the written authorization of any or aU joint owners for any further payments or deliveries. Joint Account. No Survivorship (As Tenants In Common) - is owned by two or more persons, but none of you intend (merely by opening this account) to create any right of survivorship in any other person. We encourage you to agree and tell us in writin~ of the percentage of the deposit contributed by each of you. This InformatIon will not, however, affect the "number of signatures" necessary for withdrawal. Convenience Account . governed by New York Banking Law 678. See separate disclosure. Revocable Trust Account ~ If two or more of you create such an account, you own the account jointly with survivorship. 8eneficiaries acquire the right to withdraw only if: (1) all persons creating the account die, and f21 the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, such beneficiaries will own this account in equal shares, without right of survivorship. The person(sl creating this account type reserves the right to: (1) change beneficiaries, (2) chan!';le account types, and (3) withdraw all or part of the deposit at any tIme. Corporate. Partnership. and other Organizational Accounts - We will usually require a separate authorization form designating the person permitted and conditions required for withdrawal from any account in the name of a legal entity such as a partnership, corporation, or other organization. We will honor such authorization according to its terms until it is amended or terminated in writing by the governing body of such organization. STOP-PAYMENTS - A stop-payment order must be given in the manner required by law, must be received in time to give us a reasonable opportunity to act on it, and must precisely identify the number. date and amount of the item, and the payee. We will honor a stop~payment request by the person who signed the particular item, and, by any other person, even though such other person did not sign the item, if such other person has an equal or greater right to withdraw from this account than the person who signed the item in question. A release of the stop-payment request may be made only by the person who initiated the stop~payment. AMENDMENTS AND TERMINA TION ~ We may change any term of this agreement. Rules governing changes in interest rates have been provided separately. For other changes we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Notice from us to anyone of you is notice to all of you. 5T A TEMENTS ~ If you do not notify us of an unauthorized signature or alteration within a reasonable time (not to exceed 14 days) after we send or make available to you your statement and items: (1) you cannot assert the unauthorized sIgnature or alteration against us, even if we are unable to show a loss due to your failure, and (2) you cannot assert any unauthorized signatures or alterations by the same wrongdoer on items paid by us after the reasonable time mentioned above elapses, but before we receive your notice. We lose these protections if we fail to exercise ordinary care in paying an item with an unauthorized signature or alteration, unless you do not notify us of the problem within 60 days of when we send or make available to you the statement and items. You must report any other problem (e.g., erroneous statement or passbook entry, missing signature, unauthorized endorsement, etc.) within this 50-day period or lose your right to assert the problem against us. DIRECT DEPOSITS - If, in connection with a direct deposit plan, we deposit any amount in this account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from this account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability. TEMPORARY ACCOUNT AGREEMENT - If this option is checked on the account records, this is a temporary account agreement. Each person who signs this signature card (except as indicated to the contrary on the account records) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time. 5ET~OFF . You each agree that we may (without prior notice and when permitted by lawl set off the funds in this account against any due and payable debt owed to us now or in the future, by any of you having the right of withdrawal, to the extent of such persons' or legal entity's right to withdraw. If the debt arises from a note. "any due and payable debt" includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note. This right of set-off does not apply to this account if: (a) it is an Individual Retirement Account or other tax.deferred retirement account, or (bl the debt is created by a consumer credit transaction under a credit card plan, or (c) the debtor's right of withdrawal arises only in a representative capacity, or (dl social security or supplemental security income payments are deposited directly into this account pursuant to an agreement with us which permits such direct deposit without presentation to you at the time of deposit. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of set-off. FACSIMILE SIGNATURES - You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signature(sl may have been affixed so long as they resemble the facsimile signature specimen on page 1 of this agreement. or that arB filed separately with us, and contain the required number of signatures for this purpose. <tl1983, 1990, 1991 8~nkers Systems.lnc.. St. Cloud. MN 11-800-397-2341) Form MPSC-LAZ-NY 12/9/92 (page 2 of 2) BRIDGEHAMPTON NATIONAL BANK 54970 MAIN ROAD SOUTHOLD NY 11971 516-765-1500 TRUTH IN SAVINGS DISCLOSURE FOR TIME ACCOUNTS Terms following a Ii] apply only if checked. Acct: 365 0 PERSONAL Acct #: 520006651 Date: 06/29195 iii The interest rate and annual percentage yield stated below are accurate as of the date printed above. If you would like more current rate and yield information please call us at 516-765-1500 This disclosure contains the rules which govern your deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular. IX! FIXED RATE IXJ The interest rate for your account is an annual percentage yield of 5.23 this rate o The interest rate and account depend upon the these rates 5.1000 % wnh %. We will pay annual percentage yield for your applicable rate tier. We will pay o VARIABLE RATE o The interest rate for your account is 0.0000 % with an annual percentage yield of %. Your interest rate and annual percentage yield may change. o The interest rate and annual percentage yield for your account depend upon the applicable rate tier. The interest rate and annual percentage yield for these tiers may change. Determination of rate o At our discretion, we may change the interest rate on your account. o The interest rate for your account D The fixed initial rate is not determined by this rule. o The initial interest rate on your account Subsequent rates Frequency of rate change D We may change the interest rate on your account_ o Your initial interest rate will not change We may change the interest rate on your account at that time and thereafter. iO 1992 Bankers Systems, Inc.. St. Cloud. MN 11-800-397-23411 Form TSD-TIME 11(16/92 Umitations on rate changes D The interest rate for your account will not by more than each o The interest rate will not be less than 0.0000 or more than 0.0000 %. o The interest rate will not % the interest rate initially disclosed to you. Compounding and Crediting [if Frequency - Interest Will compounded DAILY Interest will be credited to your account AT MATURITY be o Effect of closing an account - If you close your account before interest is credited. you receive the accrued interest. Minimum Balance Requirements 5a To open the account. You must deposit at least $ 1.000.00 to open this account. Balance Computation Method iii Daily Balance Method. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. o A verage daily balance method. We use the average daily balance method to calculate interest on your account. This method applies a periodic rats to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is Accrual of interest on noncash deposits o Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checksl. !illnterest begins to accrue ON THE BUSINESS DAY ITEMS ARE DEPOSITED you deposit noncash items (for example, checks). Time requirements IX! Your account will mature on 06/28198 D Your account will mature in o Your account has no definite maturity date. To withdraw any or part of this deposit without penalty, we must receive at least written notice from you of your intention to make a withdrawal. The notice must specify the exact amount and date of the intended withdrawal. Interest will no longer accrue after the withdrawal date specified in your notice on the amount specified in your notice. We may terminate this account by mailing a notice to you of our intention to terminate at least ten days before the termination date. The date of intended withdrawal of the last funds in the account, or the termination date, is considered to be the maturity date. (page 1 of 2.1 Time Deposit Withdrawal Limitations o Principal: o Interest: IXIlnterest Timing: You can withdraw interest AT MATURITY 00 Withdrawal of interest before maturity. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. Eany Withdrawal Penalty o The fee we impose will equal Ow. impose a penalty of seven days interest made within the first six days after the if the withdrawal is deposit. o If you withdraw some of your funds before maturity, the interest rate for the remaining funds in your account will be_ 0.0000 % with an annual percentage yield of 0.00 %. lXIlFYOU WITHDRAW FUNDS PRIOR TO MATURITY, A PENALTY OF 90 DAYS COMPOUNDED INTEREST WIU BE IMPOSED o The interest rate we will use to calculate the interest forfeiture will be: , We will charge the penalty first against any interest then in the account, and any excess will be deducted from the amount you withdraw. o Minimum Balance Accounts. We reserve the right to treat any withdrawal which would reduce the balance remaining in the account below the required minimum initial deposit or minimum balance as a withdrawal of the entire account balance and calculate the amount of the penalty accordingly. o We will permit an early withdrawal without imposing this penalty if this is a Keogh account or if this is an l.R.A. account and the request for withdrawal is made within seven days of establishing the account. However, the amount of interest earned on the amount withdrawn will be forfeited. This forfeiture will only apply to a Keogh account if the withdrawal is made within the first six days after deposit. Additions to Account o You may make no more than deposits into your account each o You may only make deposits into your account o You may make unlimited deposits into your account. !Xl You may not make any deposits into your account until maturity. o The minimum amount you can deposit is $ 0.00 o The maximum amount you can deposit is $ 0.00 \0 1992 Bank.ers Systems, Inc., St. Cloud, MN (1-800-397-2341] Form TSD.TIME 11'19192 o Renewal Policy o NonMautomatically renewable time accounts. This account will not renew automatically at maturity. If you do not renew the account, iii Automatically renewable. This account will automatically renew at maturity. 1XI You will have SEVEN days after the maturity date to withdraw funds without penalty. 1XI This account will not renew if you withdraw the funds on the maturity date or if we receive written notice from you on or before the maturity date of your intention not to renew. o There is no grace period following the maturity of this account to withdraw funds without penalty. o We can prevent renewal if we mail notice to you at least days before maturity. RENEWAL TERMS 1XI Each renewal term will be the same as the original term, beginning on the maturity date. Interest will be calculated on the same basis as during the original term. o Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will Bonuses o You will as a bonus o You must maintain a minimum of $ 0.00 to obtain the bonus. o To earn the bonus, o PRE~MATURITY NOTICE M Your account will mature on_ 06128/98 . If the account renews, the new maturity date will be o The interest rate for the renewed account will be 0.0000 % with an annual percentage yield of %. o The interest rate and annual percentage yield have not yet been determined. They will be available on Please call interest rate account. to learn the and annual percentage yield for your new (page 2 of 2) , , JUDITH T. TERRY TOWN CLERK Town Hall, 53095 Main Road P.O. Box 1179 SouthoId, New York 11971 Fax (516) 765-1823 Telephone (516) 765-1800 . , , REGISTRAR OF VITAL STATISTICS MARRIAGE OFFICER RECORDS MANAGEMENT OFFICER FREEDOM OF INFORMATION OFFICER OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION WAS ADOPTED BY THE SOUTHOLD TOWN BOARD AT A REGULAR MEETING HELD ON JUNE 27. 1995: RESOLVED that the Town Board of the Town of Southold hereby authorizes the reduction of the bond amount for the manor subdivision of Farmveu Associates at Mattituck from $90,000 to $l!8, 000, all in accordance with the recommendation of the Southold Town Planning Board. d'.~.,.;/ ~ ~T. Ter~ry.tf Southold Town Clerk: June 28. 1995 .m1 - re",'Af ~ ,< ~Si,+ u:e<4>~, ' d,' e ", _. .,!l {;',-:}f' ~ ';"i>'"e3 < -', ,--'-', ",' ",j~", , NQ'" ::=- June 10, 1994 Town Board .''''"" . f h ld '~'1~12'''' ". ,. Town 0 Sout 0 ~,i-l.};S\)'f)l,r~~t,j}',',~ ,', Southold, New York '11971n . Re: performance.J:l9,~d$99 ,000 ,.00 , bd' ,. M,.im>f '''p' 'A . t " Su J.vJ.SJ.qPii"I~E'!lO~'.;':i ,i3,pilveu ssc)~J.i3, rS Town of Southol ~~ uf~olk County, New:York . ,. 'i,f ',h',_,,",J''''''4''"'-'' ".'" ~ ",-', v Letter of Cred :#M94457 ~ -~~1~' ,- , . . Board Members: ~" " Dear , "., 'f~' . t:;/;.~ ~:,~! ,";f ,"0;; ',;'i". '., '{~.' A' , W. '- "'1/' , ..~,:':: ,-{ '. :.~, :.',,<. - % ~;~ .;' ~ '..;::.> ,~~:," ~""<" ':~~ "~" '\ t~"'" .1>" I ',' ,:",,~,,:,,'\::~j.'~,-,i/ '", By order of Farmveu':.Associates, and for the account of same, we hereby establish thisi':rr~~vocable Letter of Credit 'in your favor up to the aggregate~'.j ~pt~:,of. Nin7ty Thous~~d Dollars, ~~~..~~(100 ($90 ,000.00) 'U ;~:J:R . ..",,:r;;Fi,i'i<rvaJ..;l.iil:Jle~;by:'rpur.i:~afts. ,at;iJ:,S:J.ght :.t accompanied by thf ,u/.al'1"etter of CredJ.t, and:,' I ,.',;...,.,:, . , . . , .' . .. A copy of a Re~ ion of the ,Town Board, purportedly certified by:t'J:~;t,erk;.: whici~"i~<;t,i?a,tee::: ,', '.' <'; -i::f~J PC"'~ ~,,;-,(:-:,:+<, ~';"~ :'; '," - ': ' . '~~\\.-; ," ~ Y," 1;" "Farmveu Associates,hafifailed to complete all' of the improvements to. be completed byF~rIrivell Associates with regard to a subdivision map.entitled "Farmveu",'i'heretofore approved by the Planning Board af the Town of Southold;On August 11, 1989 anqthat as a result of said failure, thE:!r,~;;t~~Kdue .and owing an amaunt equal to the face amount of our attach~~c,draft. We further certify that the amount drawn hereunder is::;~9,r,,,:the sole purpose of completing those items of improvements ,whJ.9n;;;were to have beep, completed by FaJ:'l!lveu Associates".' ' This Letter of Credit remains in force inSotlthold, New York and must be presented:~9F'ilp<3:yment,~t, .our couIlte~~;a);:;,~,.925, RO,\lte 25; Mattituck, N. Y. no~1!I'U:,ateI' than.auly 7, ',' 1995'and'a,l;1 draftJ3',qrawn thereunder must b~fii'~gotiatedon or;before,that;J::date.' Iil'is a condition of the Letter;j;ofCredit thaf"it will expire July 7, 1995. ,<' ' <;,~~i::': -'fi:~~i;;}i'illJ~Mi'~;j.\i~~':",~ ~,~"., ' ,,' i" >:" ,,'z';;~:i -<\.' ' Partial drawingsun,der;}:this !Jetter of Credit are permitted. ,. , "',"'," ":, , ., Each draft must state;.that it .is "prawn under Letter of Credit #M- 94457 of North Forlr: ,j3ank, gated': June 10, 1994" and the amount endorsed on this Lett I" o,f Cregit. ".'.,' '" , "'V:'s-h-;,h~;,,'-,,:,',<r'I(: ", ' ,:,,:~,p;/',/:;'\":_i::"\,~;!;,\:t'!:-';,' ,_."r-fl:;-:c ,,' ;' __' ,'<i:-.- '__'~~j ':"',' We hereby agree wit; . e"Dr~'wer~, end~rse~a;{d~:boA~t~fide bold;r~&6~;',:" drafl=s drawn under,',iin '9ompliance with the' terms of this Letter af Credit that SllC<' ill..be duly: honored upqn presentation to the draw,ee"::."t,>:,,}-,~,;-" 'h'i'{;dn:~~!}:"':'!~;<';;r~~,',>" ;}:0j~:'-: \;'~~it~":':,} , : ."tl,,,,,,"0ii""1'~'~' ;.I't'" ..~. ';'1 ' - "q-,( ::',;.'~"k;t ;.". !;fi1,''f5/~,\<;i'';t,'',;,,)Xt;.fh'iI:'\'? ;;,J~'/;-,"{:'f~l~rU' 1 i '",,' :,:, ;,~ '.1,~~"y'::<~~:,::"'."'::::~'~+.;,~0' ,J:,:<~,,;:f,,-:;'4':";':"'~":" Except so far' as ot ,erw e,expressly stated, this credit is subject to. the Uniform Customs ,and Practice for Documentary Credits (1983 Revision), International Chamber of Commerce Publication No. 400." . .:~r;~~~--;~r"::-+i,,;~::" ~";l'", , ,,' ,~b,_", '; "'__""'~"""+: ".,',<,'.: :'> .:,: ",'.~_ '<: ,'" ': Th1.s Letter o~ CI'eg.J.t,~";f,;<:pl,ac~~ ij-ng.~ s}lper~~qt?ElI~qI't~ Fork ,: Bank Letter of CredJ.t.# 30,,:J.n the same amount:~which;expJ.res auly 7; 1q9~ ' , ;,", ,I, ,ii, ~ _ ;!:. ,,",:; 'j;~ "'I.' " ,~, 1" ,,;,.; , ,,It ;:~'1' ';' '< >*?"," '."~'~~';i ,,,(c " ,~~''!~ ,.~,~ .'.' "<i': . J;~~". ,;&rlm'o~:m,@~ . ,t." M' \~ ,'" ~ . ~ ' . ':,,;;:~1.:~ , ... ,".' ~,.", , :: ""!!M1tt: , -p,' ,~:,:" '.. It:t~;i'- ' ~ ), ,1- ~ 'N'11-w, ,.',', ""Ye__,: ,"",,- ~ ~uw,~'cP18l'rU,~. "i~t ,'i'~~ ~;; ) /7 ~/ Richard G. Ward, Chairman George Ritchie Latham, Jr. Bennett Orlowski, Jr. Mar1< S. McDonald Kenneth L. Edwards Town Hall, 53095 Main Road P. O. Box 1179 Southold, New Yor1< 11971 Fax (516) 765-3136 Telephone (516) 765-1938 PLANNING BOARD MEMBERS PLANNING BOARD OFFICE TOWN OF SOUTHOLD TO: Judith T. Terry, Town Clerk Melissa Spiro, Planner ~ RECEIVED JUN 1 4 1995 FROM: DATE: June 13, 1995 SoutItold ToWn derle RE: Approved Major Subdivision Farmveu Associations SCTM# 1000-121-3-2 At a work session on June 12, 1995, the Planning Board reviewed a request from Richard J. Cron in regard to reducing the bond amount for the above mentioned subdivision. The Planning Board agreed to a reduction in the bond amount from the present $90,000.00 to the sum of $48,000.00. The $90,000.00 Letter of Credit is due to expire on July 7, 1995. The applicant has been advised that the revised Letter of Credit must be received by noon of June 26, 1995, or there will be a resolution before the Town Board at its June 27, 1995 meeting to authorize the Town to draw on the Letter of Credit if the extension is not received by Noon of July 5, 1995. Due to the timing of the Planning Board's meetings, it is not possible for the Board to adopt the reduced bond estimate by resolution prior to the expiration date. However, as mentioned above, the Planning Board has agreed to reducing the bond estimate from $90,000.00 to $48,000.00. enc. cc: James A. Richter, Engineering Inspector ;\\~~~'i;:i~J?;}:. ------ ....----- -.- ---- ----.- --------- __n____ ---~-~-- - ---~ "'.;' )~)J))))h,,~.~ ... .~ ~~' rv "~:i1~i:.y yours, ,k~ . ...).). .;.Ii: J:"j4{) .),'i 11(2 . .j (',il .); t!\ - ;) ~ -;' r- Richa~~'G. Heptig " E::~~~9'r\ Vice Presiden JI'l. \\\1 Jll'''lllllll'\ RGH/mcs IEOWIE @ J.tl " 1994 " JUDITH T. TERRY TOWN CLERK REGISTRAR OF VITAL STATISTICS MARRIAGE OFFICER RECORDSMANAGEMENTOF~CER FREEDOM OF INFORMATION OFFICER OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD Richard J. Cron, Esq. P.O. Box 953 Cutchogue, New York 11935 Dear Mr. Cron: June 20, 1994 Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (516) 765-1823 Telephone (516) 765-1801 I am in receipt of your new Performance Bond for "Farmveu Associates", .therefore, I am returning the one dated July 7, 1993. Enclosure Very truly yours, ~~ Judith T. Ter~ Southold Town Clerk ,..;.,~._~...._.. . Richard G. Ward, Chairman George Ritchie Latham, Jr. Bennett Orlowski, Jr. Mark S. McDonald Kenneth L. Edwards .,:/", ".i'tJ":";';\.i ..-;"\~ . . ::~; "?)t>, ." ...e~~l! --'-:~:::<::~:.:/; :.--- Town Hall, 53095 Main Road P. O. Box 1179 Southold, New York 11971 Fax (516) 765-3136 Telephone (516) 765-1938 PLANNING BOARD MEMBERS CERTIFIED MAIL PLANNING BOARD OFFICE TOWN OF SOUTHOLD June 2, 1994 Richard J. Cron Cron & Cron P.O. Box 953 Cutchogue, NY 11935 RECEIVED JUN 6 1994 Re: Performance Guarantee for Farmveu Associates Mattituck, New York SCTM#: 1000-121-3-2 Southold Town liAr. Dear Mr. Cron: The performance guarantee for the subdivision of Farmveu Associates (Irrevocable Letter of Credit # M93360 with North Fork Bank) is due to expire on July 7, 1994. Since the improvements have not been completed, you must extend the guarantee for at least another year. An extension of this guarantee must be submitted to this office before the expiration date. Due to the timing of the Town Board's meetings, if the extension is not received by Noon of June 27, 1994, there will be a resolution before the Town Board at its June 28, 1994 meeting to authorize the Town to draw on the Letter of Credit if the extension is not received by Noon of July 6,1994. ] f you have any questions, please contact the Planning Board Office. ~g:. Melissa Spir~ cc: Richard G. Heptig, Senior VP, North Fork Bank Judith T. Terry, Town Clerk Laury Dowd, Town Attorney f.., , '~ "] . , &-1t/,~.l.t4 .A~4 "" . , / . NORTH FORK BANK July 7, 1993 Town Board Town of Southold Southold, New York 11971 Re: Performance Bond $90,000.00 Subdivision Map of "Farmveu Associates" Town of Southold, Suffolk County, New York Letter of Credit - #M93360 Dear,Board,!,!embers: By order of Farmveu Associates, and for the account of same, we, hereby establish this Irrevocable Letter of Credit in your favor up to the aggregate amount of Ninety Thousand Dollars and NO/100 ($90,000.00) U. S. Dollars available by your drafts at sight accompanied by this Original Letter of Credit and: A copy of a Resolution of the Town Board, purportedly certified by the Town Clerk, which indicates: "Farmveu Associates has failed to complete all of the improvements to be completed by Farmveu Associates with regard to a subdivision map entitled "Farmveu", heretofore approved by the Planning Board of the Town of Southold on August 11, 1989 and that as a result of said failure, there is due and owing an amount equal to the face amount of our attached draft. We further certify that the amount drawn hereunder is for the sole purpose of completing those items ,;'::mm;of. improvements "which were to ,have been ,completed, l:>Y, , ,Farmveu i~;' ::Ass'ociates" ai) ;/ 'j' "',~' This Letter of Credit remains in force in Southold, New York and must be presented for payment at our counters at 9025 Route 25, Mattituck, N. Y. not later than July 7, 1994 and all drafts drawn thereunder must be negotiated on or before that date. It is a condition of the Letter of Credit that it will expire July 7, 1994. Partial drawing~under this Letter of Credit are permitted. Each draft must state that it is "Drawn under Letter of Credit #M- 93360 of North Fork Bank dated July 7, 1993" and the amount endorsed on this Letter of Credit. lJ' We hereby agree with the Drawers, endorses 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 honore, d, upon presentation ; .t',; to the drawee a ~>,iw1{i:t:1"~~,;:;" . ; +,,' E,;Ht: f~2:~,~;*' ~;,:" , Except so far as otherwise expressly stated,;'this:'Credit is subject a~f"', to the, Uniform Customs and Practice for Documentary'Credits (1983 ::H,' Revision), International Chamber of Commerce' Publication No. '400.'" , ~,~. -:: ';, { :: /" ;-' \ ~' ':t~ i;Ji:\ I"~ .; ~1;' i :'::~I,'/lery,truly yours, 'Jl;i~\tf:;~:~;~~ 'i'I~', "" serr:j,f'<:;Vice President ~,',\ ~!?:k13~/~~~ . ,,- ,-~ '?"Il :":1 \"\,, ' lll,iJlJ!!1111\t\" , " . 1'.,- ,..,,' JUDITH T. TERRY TOWN CLERK REGISTRAR OF VITAL STATISTICS MARRIAGE OFFICER Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (516) 765-1823 Telephone (516) 765-180 I OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION WAS ADOPTED BY THE SOUTHOLD TOWN BOARD AT A REGULAR MEETNG HELD ON JULY 27. 1993: RESOLVED that the Town Board of the Town of Southold hereby accepts the $90.000 Letter of Credit submitted as a Performance Bond for the roads and improvements in the major subdivision of Farmveu Associates at Mattituck. all in accordance with the Town Board resolution of February 23. 1993 approving the amount as recommended by the Southold Town Planning Board and Engineering I nspector Richter, ~. Southold Town Clerk July 28. 1993 . '. . . , ,.... '.,,' ~g#-- !i1W?z.- ana! !i1W?z.- 1.!4-.5/tJCl ~ :if~ .5/6' ~/ ~if__ ~/~-- . . ~.A-:.u 'Y"dand ~ ~ ~~ 9>> !JJ_ !J.5.! :if~ A/c:!/ //!J.!.J-tJCl.!2 ff~ #k 4- ~-4-. .vm ':#4'~ ~tt.",tdJf...d Jf~ ~ .1.1.m/ July 14, 1993 RECEIVED JUL 1 4 1993 Mrs. Judith Terry Southold Town Clerk Southold Town Hall 53095 Main Road Southold, NY 11971 Southold Town 0..,1 Re: Farmveu Associates Subdivision North Fork Bank Letter of Credit #M93360-$90,OOO.00 Dear Mrs. Terry: Enclosed Bank in Southold herewith is original of letter of credit issued by North Fork the sum of $ 90,000.00 to the Town Board of the Town of relative to completion of subdivision improvements. It should be appreciated if this letter were submitted to the Town Board for their resolution of approval for the completion of remaining subdivision items. If any questions, please do not hesitate to contact me. RJC:af Enclosure Very truly yours, ~ Hand Delivered " , . . " JI,,' Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (516) 765-1823 Telephone (516) 765-1801 JUDITH T. TERRY TOWN CLERK REGISTRAR OF VITAL STATISTICS MARRIAGE OFFICER OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION WAS ADOPTED BY THE SOUTHOLD TOWN BOARD AT A REGULAR MEETING HELD ON FEBRUARY 23, 1993: RESOLVED that the Town Board of the Town of Southold hereby approves the amount of $90,000.00 as a revised bond amount for the roads and improvements in the major subdivision of Farmveu Associates at Mattituck, all in accordance with the recommendation of the Southold Town Planning Board and Engineering Inspector Richter; said revised amount amends the Town Board's resolution of May 20, 1992 approving the amount of $488,530.00, whereas the developer chose to proceed with the improvements in lieu of posting a performance guarantee, and Engineering Inspector Richter reports that the $90,000.00 reflects the improvements that have not been completed as of this date; inspection fee based upon the original estimate has been filed with the Town. ~~ Southold Town Clerk February 24, 1993 ,II ," ", t,. (' . PLANNING BOARD MEMBERS Bennett Orlowski, Jr., Chairman George Ritchie Latham. Jr. Richard G. Ward Mark S. McDonald Kenneth L. Edwards SCOTI L. HARRIS Supervisor Telephone (516) 765-1938 PLANNING BOARD OFFICE TOWN OF SOUTHOLD February 9, 1993 Town Hall. 53095 Main Road P.O. Box 1179 Southold. New York 11971 Fax (516) 765-1823 Judi t_h T. Terry Town Clerk Town of Southo1d Main Road Southo1d, NY 11971 RECEIVED FEB 9 1993 SouthoIIf T"..". n.... RE: Approved Major Subdivision Farmveu Associates SCTM~1000-121-3-2 Dear Mrs. Terry: The following resolution was adopted by the Southold Town Planning Board at a meeting held on Monday, February 8, 1993: BE IT RESOLVED to adopt the bond estimate 1993 and to recommend same to the Town Board. is in the amount of $90,000.00. dated February 1, The bond estimate The Planning Board approved the amount of $488,530.00 for a bond for roads and improvements in the major subdivision of Farmveu Associates on May 20, 1992. The applicant chose to proceed with the improvements in lieu of posting a performance guarantee. As stated in Mr. Richter's report, the $90,000.00 bond estimate reflects the improvements that have not been completed as of this date. An inspection fee based on the original bond estimate was filed with the Town. Please contact this office if you have any questions regarding the above. Sincerely, ~'ckvd AI VrMd' Richard G. Ward ~~ Chairman Encl.:. Bond estimate 763-3140 Stt6F1LE "".6 /"1-:5 JA.'t::s A. R!Clrr!3. ~IG:CNtD!.:'lG DlS!'ECrOR . ' . , . .' ."~'i,'~ , RAYMOND L. JACOBS SUPER!~!~mE)i! OF B!CU'"AYS .c OF!ICE OF 1""..E ~IGI:1EE:t 1'C"" OF SOUTEOLD 763-.3070 MR. RAYMOND L. Superintendent P.O. Box 178. PeconiC, New FEBRUARY I. 1993 JACOBS of Highways Peconic Lane York 11958 ~@~~w~~ ,=[8 - 2 [993 l~ -....'\ W Re: Farmveu Associates Sound Ave. . Aldrich Lane. Mattituck SCTM # 1000 - 121 - 03 ~ 02 SOUTHOLD "?,!i, PLANNING 80;,RO Dear Mr. Jacobs: The owners of the above referenced subdivision have requeste~ a reduction in the bond estimate to reflect the work that. has been completed as of this date. The Planning Board has aSked me to review the eetimate and verify the items that have not yet been completed. As you know. a Sond has not yet been POsted for project. Th0 original administration fee was paid by developer dnd the majority of the road construction was to completed prior to Obtaining a Bond fOl' the remaining work. outstandiog items liSted in the Bond estimate that h<lve not been Completed are as follows: this the be The yet ITEM 11 16. ASPHALT WEARING COURSE ITEM 11 19. STREET SIGNS ITEM ~ 20. CONCRETE SURVEY MONUMENTS ~ ITEM 11 21. STREET LIGHTS ITEM 11 22. DIRECT BURIAL CABLE rTEM # 23. FIRE WELLs TOTAL $ 38,400.00 .$ 2,OCO.00 $ l,6CO.oO $ 12,000.00 $ 6,000.00 $ 30,000.00 - $ 90,000.00 I have enclosed reference. If you have please Contact my office. d copy of the any questions Bond Estimate for YOur concerning this report, ~c: ri~l ~ (Gj ~ ~ W ~ ill FEB - I 1993 SOUTHOLO TOWN ~_II!'~~'.I(' ~ cerelii~ //--) / , ,,~4, '- .d: a~fs4.p Ri~~ , . . . , . .".., t, ( ..' , , -c ITEM 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. I a. 19. 20. 21. 22. 23. QUANTITY 7 ACRE 3.425 C;Y. 3,250 C.Y. 15,000 S.Y. 2 EA. 2 EA. I EA. 20 EA. 9 EA. 1 EA. 900 L.F. 10 C.Y. 7,400 L.F. 2,220 TONS 1,650 TONS 960 TONS 2.900 S.Y. 180 EA. 10 EA. 16 EA. 6 EA. 3,000 L.P. 3 EA. BOND BS'l'IHATB FOR PARKVIBU ASSOCIATES AT HATTITUCK, TOWN OF SOUTHOLD SCTH ~ 1000 - 120 - 03 - 08 MAY 4. 1992 DESCRIPTION UN!T PRICE CLEARING & GRUBBING TOPSOIL STRIPPING & STOCKP!LING UNCLASSIFIED EXCAVATION FINE GRADING CONCRETE HEADWALL BUBBLE B1,SIN DIP,,'USION WELL CATCH/LEACHING BASIN LEACHING POOLS MANHOLE 18"Dia. CMP RI P RAP, CONCRETE CURa 3/4' STONE BLEND BASE 2 1/2" ASPHALT BINDER COURSE I 112" ASPHALT WEARING COURSE TOPSOIL & SEED STREET TREES STREET SIGNS CONCRETE SURVEY MONU/'IENT STREET LIGHTS DIRECT BURIAL CABLE FIRE WELL $ 2.650.00 2.00 6.00 0.50 1,600.00 3,000.00 3,000.00 2,000.00 1,800.00 3,000.00 30.00 28.00 10.00 25.00 40.00 40.00 5.50 200.00 200.00 100.00 2,000.00 2.00 10,000.00 AMOUNT $ 13,550.00 6,850.00 1').500.00 '7,500.00 :1.200.00 6,000.00 :l,OOO.oo 40,000.00 16,200.00 3,000.00 2",000.00 280.00 H,ooo.oo 5:'.500.00 66,000.00 38,400.00 15,950.00 36,000.00 2,000.00 1,600.00 12,000.00 6,000.00 30,000.00 SUB-TOTAL $ 488,530.00 + 6% ADMINISTRATION FEE 29,312.00 TOTAL $517,842.00 PAGE L of L re'~ ill @ ill n ~J ~ ~U G'E8 ~ I :;93 -_..~-. rn SOUTHOLO TOWN PLANNING BO_RO . , ' ,- ~. '-"," . - !:/;;a' j!J;/1;a .1:fW?l/ and .1:f W?l/ 1.J//-5/00 ~ _~~ 5/6' January 22, 1993 ~ !?4ad 91J 9= .95.J 5;;'~ Jf/Cf/ //.9.J5.00.J2 ff~~4-~ -4-.. #25/ ~4.5'1'- !Jd~.A{,.d ./f~, ff~ JJ.9/i(J %.(;,<<I/' ."G';"" /~/ .'if",," * * ~.A:., '?!/od a...d ff~ !Jd- Richard G. Ward, Chairman Southold Town Planning Board Southold Town Hall 53095 Main Road P.O. Box 1179 Southold, NY 11971 RECEIVED "N 2 r "'" V 1"\ ".' ,;,_,,-/J '~'''''''') Re: Approved Major Subdivision Farmveu Associates Mattituck SCTM# 1000-121-3-2 Southel,; T __'"" rl~.I, Dear Mr. Ward: This instant date, I had occasion to speak with Holly, an employee of the Planning Board, relative to securing a revision in the bond estimate dated May 4, 1992, in tne above"-capti.oned subdivision. We would estimate that approximate]:! 82% of the improvements in the subdivision have been completed to date, with approval thereof by the Town's engineering inspector, .Tames A. Richter. This leaves approximately 18% of the improv~ments to be completed, totalling $90,000.00, for which we would reqnest a bond reduction to said sum. Pursuant to the bond estimate ,lated May 4, 1992, the following represents the items numbers, description, and cost of the items yet to be completed. ITEM DESCRIPTION AMOUNT 16. 19. 20. 2l. 22. 23. 1 1/2" ASPHALT WEARING COUR~m STREET SIGNS CONCRETE SURVEY MONUMENTS STREET LIGHTS DIRECT BURIAL CABLE FIRE WELLS $38,400.00 2,000.00 1,600.00 12,000.00 6,000.00 30,000.00 TOTAL $90,000.00 In the light of the fact that we would like to either post a performance bond or letter of crec!it with respect to the revised bond amount, we should appreciate a r"solution of the Planning Board to that effect together with a resolut.ion of the Town Board approving the reduction and revision of said bone:. .l' . ,,' ,'...,., .,....,f' . , .; Richard G. Ward, Chairman January 22, 1993 Page Two If there is anything further you Lay require, please do not hesitate to contact the undersigned. Thanking you for your cooperatic)'l and courtesies extended in t;1is matter. -- "'\ RJC:af cc: Southold Town Board ." of. ,., .. ,'" , ~ ~: " . . Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (516) 765-1823 Telephone (516) 765-1801 JUDITH T. TERRY TOWN CLERK REGISTRAR OF VtT AL STATISTICS MARRtAGE OFFICER OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION WAS ADOPTED BY THE SOUTHOLD TOWN BOARD AT A REGULAR MEETING HELD ON MAY 20, 1992: RESOLVED that the Town Board of the Town of Southold hereby approves the amount of $488,530.00 for a bond for roads and improvements in the major subdivision of Farmview Associates, with an administration fee of $29,312.00, all in accordance with the recommendation of the Southold Town Planning Board and Engineering Inspector Richter. ~~~ Judith T. Terry (/ Southold Town Clerk May 21, 1992 . . ..l t' J" . . , .. " '".f . . . SCOIT L. HARRIS Supervisor PLANNING BOARD MEMBERS Bennett Orlowski. Jr.. Chairman George Ritchie Latham. Jr. Richard G. Ward Mark S. McDonald Kenneth L. Edwards Town Hall. 53095 Main Road P.O. Box 1179 Southold. New York 11971 Telephone (516) 765-1938 PLANNING BOARD OFFICE TOWN OF SOUTHOLD May 18, 1992 Fax (516) 765-1823 lfaMD MAY 1 8 1992 Judith T. Terry Southold Town Clerk Main Road Southold, New York 11971 ScIlIll>olrf fa..... ,.... RE: Approved Major Subdivision Farmveu Associates SCTM* 1000-121-3 2 Dear Mrs. Terry: The following resolution was adopted by the Southold Town Planning Board at the meeting held on Monday, May 18, 1992: BE IT RESOLVED to adopt the bond estimate 1992, and to recommend same to the Town Board. estimate is in the amount of $488,530.00. with fee in the amount of $29,312.00. dated May 4, The bond an administration This subdivision was deemed to have been granted final plat approval pursuant to the provisions of Subdivision 4 of Section 276 of the Town Law on August 11, 1989. However, a bond estimate was not adopted by the Planning Board or Town Board, prior to the granting of the final approval. The subdivision improvements must be completed, or a Letter of Credit, Performance Bond, or cash must be submitted and accepted by the Town Board, in the amount of the above mentioned bond estimate, prior to the issuance of building permits for any of the lots in the subdivision. In either instance, the administration fee is required. Please contact this office if you have any questions regarding the above. Very truly yours, Be~~~~f'~ Chairman Encl. Bond Estimate .. ,..1'- . . , "-,',, '~"""" , " ~ I. .., RAYMOND L. JACOBS SUPERINTENDENT OF HIGHWAYS 765-3140 JAMES A. RICHTER ENGINEERING INSPECTOR 765-3070 OFFICE OF THE ENGINEER TOWN OF SOUTHOLD BOND ESTIMATE FOR FARMVIEU ASSOCIATES AT MATTITUCK, TOWN OF SOUTHOLD SCTM I 1000 - 120 - 03 - 08 MAY 4, 1992 ITEM QUANTITY DESCRIPTION UNIT PRICE AMOUNT 1. 7 ACRE CLEARING & GRUBBING $ 2,650.00 $ 18,550.00 2. 3,425 C.Y. TOPSOIL STRIPPING & STOCKPILING 2.00 6,850.00 3. 3,250 C.Y. UNCLASSIFIED EXCAVATION 6.00 19,500.00 4. 15,000 S.Y. FINE GRADING 0.50 7,500.00 5. 2 EA. CONCRETE HEADWALL 1,600.00 3,200.00 6. 2 EA. BUBBLE BASIN 3,000.00 6,000.00 7. 1 EA. DIFFUSION WELL 3,000.00 3,000.00 8. 20 EA. CATCH/LEACHING BASIN 2,000.00 40,000.00 9. 9 EA. LEACHING POOLS 1,800.00 16,200.00 10. 1 EA. MANHOLE 3,000.00 3,000.00 11. 900 L.F. 18"Dia. CMP 30.00 27,000.00 12. 10 C.Y. RIP, RAP, 28.00 280.00 13. 7,400 L.F. CONCRETE CURB 10.00 74,000.00 14. 2,220 TONS 3/4" STONE BLEND BASE 25.00 55,500.00 IS. 1,650 TONS 2 1/2" ASPHALT BINDER COURSE 40.00 66,000.00 16. 960 TONS 1 1/2" ASPHALT WEARING COURSE 40.00 38,400.00 17. 2,900 S.Y. TOPSOIL & SEED 5.50 15,950.00 18. 180 EA. STREET TREES 200.00 36,000.00 19. 10 EA. STREET SIGNS 200.00 2,000.00 20. 16 EA. CONCRETE SURVEY MONUMENT 100.00 1,600.00 21. 6 EA. STREET LIGHTS 2,000.00 12,000.00 22. 3,000 L.F. DIRECT BURIAL CABLE 2.00 6,000.00 23. 3 EA. FIRE WELL 10,000.00 30,000.00 SUB-TOTAL $ 488,530.00 + 6% ADMINISTRATION FEE 29,312.00 TOTAL $ 517,842.00 PAGE 1. of 1. Bridgehampton National Bank (516) 537-1000 2488 Montauk Hvvy.-Box 300S.Bridgehampton, N'{ 11932-3005 WERNE;R L ADEL JR RI~ J ~ON Bp~~:J,~9,.... .... ~r.~:88llit~i1:;;;n1~!;;~rAfh:iNtfYiht.,.;N;+ ,.J " 365 D PERSONAL CERTIFICATE: 520006651 fQJj 06/29/95 THRU 06/28/96 -- rM.\;j:J:i l * * * FIN A L S TAT E MEN T * * * -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 365 D PERSONAL CERTIFICATE 520006651 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DESCRIPTION DEBITS CREDITS DATE BALANCE CERTIFICATE ISSUED...................................... 06/29/95 DEPOSIT 48,000.00 06/29/95 INTEREST 2,547.11 06/27/96 CLOSING WITHDRAWAL 50,547.11 06/28/96 BALANCE THIS STATEMENT .................................. 06/28/96 THE DISCLOSURE PERIOD FOR THIS CERTIFICATE IS 06/29/95 THRU 06/27/96. 48,000.00 50,547.11 .00 .00 - - - - - - - - I N T ERE S T - - - - - - - - - - AVERAGE LEDGER BALANCE: INTEREST PAID THIS PERIOD: TAX IDENTIFICATION NUMBER: INTEREST PAID 1996: 48,000.00 2,547.11 104-34-4550 2,547.11 INTEREST EARNED: DAYS IN PERIOD: ANNUAL PERCENTAGE 2,547.11 365 YIELD EARNED: 5.31% NOT ICE: SEE REVERSE SIDE FOR IMPORTANT INFORMATION