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Home My WebLink AboutColton Acres JPMORGAN CHASE BANK, N.A. TRADE&WORKING CAPITAL 10420 HIGHLAND MANOR DRIVE,FLOOR 3 TAMPA,FL 33610-9128 USA SWIFT:CHASUS33 To RECEIVED TOWN OF SOUTHOLD 53095 ROUTE 25, P.O. BOX 1179 SOUTHOLD, NY 11971 MAR 2 0 2026 Date :2Q Mar 2026 Subject:Acknowledgement of Auto Extension of Expiry Our Reference : NUSCGS037256 Soul cld Town Clerk Dear Sir/Madam, Standby LC Reference NUSCGS037256 Beneficiary TOWN OF SOUTHOLD 53095 ROUTE 25, P.O. BOX 1179 SOUTHOLD, NY 11971 Account Party 6500 MAIN RD EAST MARION LLC In accordance with the terms of the above referenced Standby Letter of Credit we hereby inform you that the Standby Letter of Credit, is now extended to 31-May-2027. All inquiries regarding this transaction may be directed to our Client Service Group quoting our reference NUSCGS037256 using the following contact details: Telephone Number: 1-800-634-1969 11 1 Email Address: gts.client.servioes@jpmchase.com Yours Faithfully, JPMorgan Chase Bank, N.A., Authorized Signature Tahir H Rana VP-Operations Manager Organized under the laws of U.S.A.with limited liability United States NUSCGS037256 20 Mar 2026 Page-1/1 RESOLUTION 2021-566 ADOPTED DOC ID: 17215 THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION NO. 2021=566 WAS ADOPTED AT THE REGULAR MEETING OF THE SOUTHOLD TOWN BOARD ON JULY 13, 2021: RESOLVED that the Town Board of the Town of Southold hereby accepts the Irrevocable Standby Letter of Credit(ISLC) issued by JP Morgan Chase Bank, N.A. in the amount of $182,859.50 for the Standard Subdivision entitled"Colton Acres", SCTM#1000-38.-1-1.8, located at 6500 Main Road,East Marion, as recommended by the Southold Town Planning Board, subject to the approval of the Town Attorney. Denis Noncarrow Southold Town Clerk RESULT: ADOPTED [UNANIMOUS] MOVER: Sarah E. Nappa, Councilwoman SECONDER:James Dinizio Jr, Councilman AYES: Nappa, Dinizio Jr, Doherty, Ghosio,Russell ABSENT: Louisa P. Evans V 4 JMORAN CHASE '�_E_ I�C ____ GLOBALLGR DE OPE AB ONS N.A. �' 10420 HIGHLAND MANOR DRIVE,FLOOR 04 JUN 2 4 2021 TAMPA,FL33610-9128 SWIFT:CHASUS33 Southold I own Planning Board CON Pt DATE : 18 Jun 2021 IRREVOCABLE STANDBY LETTER OF CREDIT REFERENCE NO.: NUSCGS037256 TO: TOWN OF SOUTHOLD 53095 ROUTE 25, P.O. BOX 1179 SOUTHOLD, NY 11971 DEAR SIR/MADAM, WE HEREBY ISSUE OUR IRREVOCABLE STANDBY LETTER OF CREDIT IN YOUR FAVOR. BENEFICIARY TOWN OF SOUTHOLD 53095 ROUTE 25, P.O. BOX 1179 SOUTHOLD, NY 11971 ACCOUNT PARTY 6500 MAIN RD EAST MARION LLC 6500 MAIN ROAD EAST MARION, NEW YORK, 11939 DATE OF EXPIRY 31-MAY-2022 PLACE OF EXPIRY OUR COUNTER AMOUNT USD 182,859.50 APPLICABLE RULE ISP LATEST VERSION WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. NUSCGS037256 IN YOUR FAVOR, ON BEHALF OF STEFAN Q SOLOVIEV, 2221 S ROOSEVELT ROAD 12, PORTALES, NEW MEXICO 88130 FOR ACCOUNT OF THE ABOVE-REFERENCED ACCOUNT PARTY. THIS LETTER OF CREDIT IS AVAILABLE WITH JPMORGAN CHASE BANK, N.A., FOR PAYMENT AGAINST PRESENTATION OF YOUR DRAFT DRAWN AT SIGHT ON US AND ACCOMPANIED BY THE DOCUMENTS SPECIFIED BELOW: 1. BENEFICIARY'S WRITTEN STATEMENT SIGNED BY AN AUTHORIZED REPRESENTATIVE, SIGNED AS SUCH,AND READING EXACTLY AS FOLLOWS: "6500 MAIN RD EAST MARION, LLC ("OBLIGOR"), IS IN DEFAULT AS THE LLC HAS NOT COMPLIED WITH THE TERMS AND CONDITIONS OF A CERTAIN SOUTHOLD TOWN PLANNING BOARD RESOLUTION, ISSUED , APPROVING WITH CONDITIONS THE SUBDIVISION MAP OF COLTON ACRES,A 4.24 ACRE PARCEL, LOCATED WITHIN THE HAMLET OF EAST MARION, TOWN OF SOUTHOLD, COUNTY OF SUFFOLK,AND STATE OF NEW YORK, KNOWN AS SUFFOLK COUNTY TAX MAP NO. 1000-38-1-1.8), INTO THREE(3) LOTS.THEREFORE, PAYMENT UNDER THIS JPMORGAN CHASE BANK, N.A., LETTER OF CREDIT NO. NUSCGS037256 IS HEREBY DEMANDED". IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ADDITIONAL TWELVE (12) MONTH PERIODS FROM THE PRESENT OR EACH FUTURE EXPIRATION DATE, UNLESS AT LEAST NINETY(90)DAYS PRIOR TO THE CURRENT EXPIRY DATE WE SEND NOTICE IN WRITING TO THE SOUTHOLD TOWN CLERK AT 53095 ROUTE 25, P.O. BOX 1179, SOUTHOLD, NY 11971.AN ADDITIONAL COURTESY COPY OF NON-EXTENSION NOTICE WILL BE SENT TO Organized under the laws of U.S.A.with limited liability United States NUSCGS037256 18 Jun 2021 Page-1/2 I • l Continuation of our Reference NUSCGS037256 SOUTHOLD TOWN PLANNING BOARD AT 54375 ROUTE 25, P.O. BOX 1179, SOUTHOLD, NY 11971,AND SOUTHOLD TOWN ATTORNEY'S OFFICE AT 54375 ROUTE 25, P.O. BOX 1179, SOUTHOLD, NY 11971 (VIA CERTIFIED MAIL OR OVERNIGHT COURIER-RETURN RECEIPT), THAT WE ELECT NOT TO AUTOMATICALLY EXTEND THIS LETTER OF CREDIT FOR ANY ADDITIONAL PERIOD. SUCH ADDITIONAL NOTIFICATIONS ARE COURTESY NOTIFICATIONS AND OUR FAILURE TO SEND SUCH COURTESY NOTIFICATIONS WILL NOT CAUSE THIS LETTER OF CREDIT TO EXTEND FOR ANY ADDITIONAL PERIOD OF TIME. WE ENGAGE WITH YOU THAT DOCUMENTS DRAWN AND PRESENTED UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS LETTER OF CREDIT SHALL BE DULY HONORED IF PRESENTED AT OUR COUNTERS AT 10420 HIGHLAND MANOR DRIVE,4TH FLOOR,TAMPA, FLORIDA 33610 ATTN: STANDBY LETTER OF CREDIT DEPT. ON OR BEFORE THE EXPIRATION DATE.ALL PAYMENTS DUE HEREUNDER SHALL BE MADE BY WIRE TRANSFER TO THE BENEFICIARY'S ACCOUNT PER THEIR INSTRUCTIONS.ALL DOCUMENTS PRESENTED MUST BE IN ENGLISH. THIS LETTER OF CREDIT IS GOVERNED BY,AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,AND, EXCEPT AS OTHERWISE EXPRESSLY STATED HEREIN,TO THE INTERNATIONAL STANDBY PRACTICES, ICC PUBLICATION NO. 590 (THE"ISP98"),AND IN THE EVENT OF ANY CONFLICT ISP98 WILL CONTROL,WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.ANY DISPUTES ARISING FROM OR IN CONNECTION WITH THIS STANDBY LETTER OF CREDIT SHALL BE SUBJECT TO THE EXCLUSIVE JURISDICTION OF UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN. All inquiries regarding this transaction may be directed to our Client Service Group quoting our reference NUSCGS037256 using the following contact details: Telephone Number: 1-800-634-1969 Email Address: gts.client.services@jpmchase.com Yours Faithfully, JPMorgan Chase Bank, N.A., Yo Gj lt4, V'(— Authorized Signature Ruxandra Cravicenco ED-Operations Manager Organized under the laws of U.S.A.with limited liability United States NUSCGS037256 18 Jun 2021 Page-2/2