Irrevocable LOC No. 1480705 C w \ BOARD OF COUNTY COMMISSIONERS
County of Monroe Mayor Sylvia J.Murphy,District 5
x ' Mayor Pro Tern Danny L.Kolhage,District 1
The Florida Ke s :ems - Michelle Coldiront,District 2
y ', Heather Carruthers,District 3
David Rice,District 4
Robert B.Shillinger, County Attorney" Office of the County Attorney
Pedro J.Mercado,Assistant County Attorney** 1111 121h Street,Suite 408
Cynthia L.Hall,Assistant County Attorney** Key West,FL 33040
Christine Limbert-Barrows,Assistant County Attorney** (305)292-3470—Phone
Derek V.Howard,Assistant County Attorney** (305)292-3516—Fax
Steven T.Williams,Assistant County Attorney _
Peter Morris,Assistant County Attorney
Patricia Eables,Assistant County Attorney
Chris Ambrosio,Assistant County Attorney
Paunece Scull,Assistant County Attorney
**Board Certified in City,County&Local Govt.Law
MEMORANDUM
TO: Pam Hancock, Deputy Clerk
FROM: Kathy M. Peters, County Attorney's Office
RE: NEW IRREVOCABLE LETTER OF CREDIT NO. 1480705 dated 7/25/19
(Expiration Date: 7/25/2020) PURSUANT TO SEC. 23 OF THE AMENDED AND
RESTATED SOLID WASTE AND RECYCLING COLLECTION FRANCHISE
AGREEMENT: Marathon Garbage Services, Inc.: BOCC 5/21/14 (N-9)
DATE: July 19, 2019
Attached please the new original executed Irrevocable Letter of Credit No. 1480705 dated 7/25/19 which
was received by this office today pursuant to Section 23. of the Amended and Restated Solid Waste and
Recycling Collection Franchise Agreement with Marathon Garbage Services approved by the Board on
5/21/14 (N-9) for retention in official BOCC records. Please ensure these documents are also posted on
the Clerk's website with the Franchise Agreement.
N. COUNTY ADMINISTRATOR- CONTINUED
9. Approval to waive competitive bidding procedures and enter into an Amended and Restated Solid
Waste and Recycling Collection Franchise Agreement with Waste Management Inc. of Florida,
Marathon Garbage Services, Inc. and Keys Sanitary Services for residential and commercial
solid waste,yard waste and recycling collection services in an combined amount estimated at$71.1
Million over a ten year period.
KMP/
Enclosure: Original executed Irrevocable Letter of Credit No. 1480705 dated 7/25/19
ti
Peters-Katherine
From: Limbert-Christine
Sent: Friday,July 19, 2019 12:46 PM
To: Pam Hancock
Cc: Peters-Katherine; Sullivan-Cheryl
Subject: Letter of Credit for Marathon Garbage
Attachments: DOC185.pdf; FULLY EXECUTED N9 Franchise (collection) agreement MARATHON
GARBAGE 8 15 14.pdf
Good morning Pam,
Attached is the new Irrevocable Letter of credit for Marathon Garbage Service, Inc. issued by First State Bank.This is
required by our agreement with them (attached for reference).The letter of credit is provided in lieu of a performance
bond. We will be sending the original letter over to you for record retention purposes, but I wanted to give you a heads-
up that it is forthcoming. Please let me know if you have any questions or concerns.Thanks and have a great day.
xAPRIO-7 Christine M. Limbert-Barrows
.N\\t1 Asst.County Attorney
( -7 Monroe County Attorney's Office
k'1 1111 12th Street,Suite 408
G _5dc.i Key West,FL 33040
{ /,CEA-0" (305)292-3470
(305)292-3516(fax)
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FIRST STATE LANK
IRREVOCABLE LETTER OF CREDIT NO 1480705
July 25,2019
Applicant: Marathon Garbage Service, Inc.
4290 Overseas Highway
Marathon, Florida 33050
Beneficiary: Monroe County Solid Waste Management
Public Works Division
1100 Simonton Street, Room 2-231
Key West, FL 33040
Amount: $400,000.00 USD Expiration Date:July 25,2020
Dear Beneficiary:
We hereby establish our Irrevocable Letter of Credit No. 1480705 ("Letter of Credit")in your favor for the account of Marathon
Garbage Service, Inc. in the amount of four hundred thousand and 00/100 U.S. Dollars ($400,000.00) available at First State
Bank of the Florida Keys.
Your drafts will be accepted upon compliance of all terms below.
a) Each draft must bear on its face clause "Drawn Under Letter of Credit No. 1480705 dated July 25, 2019 of First State
Bank of the Florida Keys. .
b) The original of this Irrevocable Letter of Credit must accompany any draft.
c) Partial drawings are allowed hereunder.
We hereby agree with the Beneficiary, drawers, endorsers and bonafide holders of all drafts under an in accordance with the
terms of this Irrevocable Letter of Credit that they shall be honored on presentation in accordance with the terms of the
Irrevocable Letter of Credit. Requests for payments must be directed to First State Bank of the Florida Keys, 1201 Simonton
Street, Key West, Florida 33040 ATTN: Loan Servicing between the hours of 9:00am and 4:00pm Eastern Standard Time on or
before July 25,2020.This Irrevocable Letter of Credit it not assignable or transferable.
It is a condition of the Letter of Credit that it shall be deemed to be automatically extended without amendment for additional
periods of one (1)year from the expiration date hereof and any future expiration date unless at least thirty (30) days prior to
any expiration date,we shall notify you by registered mail or by any other receipted means that we elect not to consider this
letter of credit renewed for any such additional period,whereupon you may draw for the available amount under this letter of
credit by means of your sight draft(s),drawn upon us, mentioning our Letter of Credit Number.
This Letter of Credit sets forth the full terms of our undertaking, and such undertaking shall not in any way be modified or
amended by reference to any other document whatsoever.
This letter of credit is governed by the laws of the State of Florida. Except so far as otherwise expressly stated, and is subject
to the Rules on International Standby Practices—ISP 98, International Chamber of Commerce Publication No.590("ISP98"),and
to the extent not inconsistent with ISP 98, the Uniform Customs and Practice for Documentary Credits (1995 Revision),
International Chamber of Commerce,Publication No. 600.
Sincerely,
Jeff Smith,Senior Vice President,Senior Lender