NCC221319_NOT Closeout Documents_20240409

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DURHAM
COUNTY Engineering and •
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Environmental Services
SURETY RELEASE
October 31.,2023
Davidson Industrial Properties—78 TW LLC
1.11-1-I Reynolda Village
Winston Salem,NC 27106
Re: 78 TW Alexander Bioprocessing
.ICN No. 6321-11
Performance Bond #: 47869712629
RETURN RECEIPT REQUESTED
CERTIFIED MAIL# 7016 3010 0001 1338 5245
To Whom It May Concern,
An erosion control inspection performed on September 12, 2023 indicates that
the subject project is complete and all areas are permanently stabilized. Thereibre, the
pertorinance bond issued on November n9, 2019 in the amount of$58,480.00 is hereby
released.
Contact me at phone number 919-560-7364 i f you have any questions.
Sincerely,
7/ta: die &o dd au<
McKenzie Bradshaw
Stormwater Manager
Enclosure: Performance Bond
201 E.Main Street I Fifth Floor,Suite 561,Durham,North Carolina 27701
[phone] I dconc.gov
Equal Employment/Affirmative Action Employer

Pinnacle
IRREVOCABLE STANDBY LEER OF CREDIT NO.47E69712629 Credit Administration-Nashville
TT
150 3r3 Avenue South,Suite 900
Cate of issue:October 26,2021 Nashville,TN 37201
[phone]
Beneficiary: Applicant:
County of Durham Davidson industrial Proper ties-78 TW,LLC
Durham County Engineering Department 111--H Reynolda Village
r./o Sedimentation&Erosion Control Officer Winston-Salem,NC 271.06
201 E.Main Street,5"'Floor
Durham,NC 27701
Amount:$58,480.00 US Dollars
Durham County Job Control Number:6321--11
We hereby establish this Irrevocable Letter of Credit Number 47869712629 dated October 26,2021 in favor of the County
Durham at the request of the Applicant up to the aggregate sum of Fifty-Eight Thousand Four Hundred Eighty and 00/100ths
United States Dollars ($58,480.00) available by the Beneficiary's draft at sight drawn on: Pinnacle Bank, 150 3'd Avenue
South,Suite 900,Attn:teeter of Credit Department,Nashville,TN 37201 bearing the clause"Drawn under Irrevocable Letter
of Credit Number 47869712629 dated October 26,2021"and accompanied by the following documents:
(1) Beneficiary's statement signed by an authorized Sedimentation and Erosion Control Officer that the Applicant,
Davidson industrial Properties-78 TW,LLC,has failed to comply with the Durham County Sedimentation and
Erosion Control Ordinance at the TW Alexander Rioprocessing Building Project;and
(2) The Original of this Letter of Credit.
We hereby engage with you that all drafts at sight drawn under and in compliance with the terms of this Letter of Credit will
be fully honored by us when presented at this office on or before the expiration hereof or any of its extended periods.
This Letter of Credit shall expire on October 26, 2022 (one year from the date of issue) but will automatically renew for
consecutive one-year periods on the current or any future expiration date unless the Issuer provides the Beneficiary with
written notice at the above listed address of our intent to terminate the credit herein extended, which notice must be
provided at least forty-five(45)days prior to the expiration date of the original term hereof or any renewed one(1)year
period. Notice to Durham County that this Letter will expire prior to performance of the Applicant's obligations shall be
deemed a default by the Applicant.
Pursuant to the terms stated herein, the monies available under this irrevocable Letter of Credit may be claimed in part,
from time to time,or in the entirety.
Satisfaction of the payment of all monies by the Applicant as provided for in the Permit shaft be a release of all obligations
under this Letter of Credit.
This Letter of Credit shall be binding upon the parties hereto,their heirs,successors and assigns and shall be construed in
accordance with the laws of the State of North Carolina. All actions relating in any way to this contract shall be brought in
the General Court of Justice in the County of Durham and the State of North Carolina. This Letter of Credit is subject to
Uniform Customs and Practice for Documentary Credits(2007 Revision)International Chamber of Commerce Publication No.
600
Lt,
Michael Holshouser,SVP
Pinnacle Bank RECEIVED
Credit Administration-Nashville
150 3'4 Avenue South,Suite 900 OCT 2 9 2021
Nashville,TN 37201 p��
[phone] r ari urNanb'•�meIWO