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Enterprise
December 28, 2010 Bank
Town of North Andover
Attn.: Zoning Board of Appeals
120 Main Street
North Andover, MA 01845
RE: Irrevocable Standby Letter of Credit Number 19549.
Comprehensive Permit — Orchard Village Subdivision
off Turnpike Street and Chestnut Street
Dear Zoning Board Members:
JAN 3 2011 .9
ROARn OF APPFALS
By this document, Enterprise Bank and Trust (hereinafter "issuer") hereby issues this Irrevocable
Letter of Credit Number 19549 in the amount of One Hundred Thousand Dollars ($100,000) to
the Town of North Andover ("Town"), acting by and through its Zoning Board of Appeals
("Board") on behalf of Orchard Village LLC 44 Great Pond Road, Boxford, Massachusetts
01921 (hereinafter "Developer). This Irrevocable Letter of Credit is issued to guarantee
completion of the subdivision roadway and associated utility and infrastructure improvements in
accordance with a definitive subdivision plan entitled, "Definitive Subdivision Plan for Orchard
Village in North Andover, Mass." Prepared by Christiansen and Sergi, dated April 2, 2009, last
revised June 9, 2009 and filed with Land Registration Office of Land Court as Plan No 18083E
(the "Subdivision Plan"). Said subdivision concerns land located at Chestnut Street and Turnpike
Street, North Andover, MA -Tax Map 107C, Lots 18 & 112.
It is agreed and understood by the issuer of the Letter of Credit that if all improvements, as shown
on the Subdivision Plan guaranteed by this letter are not completed or substitute security under
G.L. c, 41, s. 8 1 U acceptable to the Board has not been provided by the Developer, by August 13,
2012 then this letter of credit may be called by notice of same given to the Bank by the Board and
without further action of the Board, Enterprise Bank and Trust shall forthwith forward a check in
the amount of One Hundred Thousand Dollars ($100,000) to the Treasurer of the Town of North
Andover. This letter of credit and any funds paid hereunder constitute the Developer's
performance guarantee under the Subdivision Control Law, Mass.Gen.Laws c. 41, s. 81U, and are
governed thereby.
We hereby agree with you that drafts drawn by notice given under and in compliance with the
above terms of this Letter of Credit will be duly honored if presented to the above-mentioned
Drawee bank until receipt of confirmation from the Board that all work has been completed in
accordance with said Comprehensive Permit. However, this Letter of Credit shall expire upon
sixty (60) days written notice thereof directed to the Town of North Andover's municipal Clerk
and Zoning Board of Appeals, provided that such written notice of expiration shall be given no
earlier than September 13, 2012 and this Letter of Credit shall expire no earlier than November
13, 2012.
8 High Street, Andover, MA 01810 • Phone: 978-623-3399 • Fax: 978-623-3334 • www.EnterpriseBanking.com
Page 2
Letter of Credit
Orchard Village LLC
Town of North Andover
Dated: December 28, 2010
PD�� , -.1/
M rle P. Hoyt, Senior Vice PrYsidcnt
I have read this Letter of Credit and agree to its terms.
V4 S\6
Obert A. Messina, Manager of Orchard
Village LLC and Individually
Alfrgd J. J&Tisi, Manager of Orchard
Village, LLC & Individually
Marylee Messina, President & Treasurer of
Messina Development Company, Inc &
Individually
JT v st nts, LLC, Alfred J. Torrisi-Manager
/e fifer a�
/Qf �e1eaS��
�rc�ia�✓�
Ciofolo, Angela
From: Brown, Gerald
Sent: Tuesday, January 04, 2011 1:41 PM
To: Ciofolo, Angela
Subject: FW: Orchard Village Letter of Credit attached.
Attachments: irrevocable letter of credit.pdf
gerakCA. Brown
Inspector of Buildings
Building Department
Town of North Andover
1600 Osgood Street
Building 20, South; Suite 2-36
North Andover, MA 01845
From: Carol McGravey fmailto:chm(@uf-law.coml
Sent: Monday, January 03, 20114:20 PM
To: Brown, Gerald
Subject: FW: Orchard Village Letter of Credit attached.
Gerry,
j ! ��
APPEALSBOARD OF
I have reviewed the attached letter of Credit and it is in the form that we approved and sent to the Zoning Board last
month. Atty. Borenstein will deliver the original to you. If you have any questions before issuing the Lot Release, please let
me know.
Carol McGravey
From: Don Borenstein [mailto:Don(&Ibllclaw.coml
Sent: Monday, January 03, 20119:50 AM
To: Carol McGravey
Cc: Brown, Gerald; RobtMessina(a)aol.com; Torrisi, Al
Subject: FW: Orchard Village Letter of Credit attached.
Carol,
I've attached a copy of the final, signed LOC from Enteprise Bank. As I think you know, the NA Building Inspector, Gerry
Brown, is holding the signed Form J Lot Release in escrow pending delivery to him of the original LOC. Can you review
the attached and confirm to Gerry that he's ok to take the original LOC in exchange for the Lot.Release? I'd like to go by
his office this week and do that (sooner the better for me). I'll get you recording info on the Lot Release as soon as
we register it. FYI, I believe the LOC is in the same form as you last reviewed by e-mail only on Enterprise letterhead,
with final formatting, etc.
Any questions, plese call. Thanks and happy new year!
1 Regards,
tater p rise
December 28, 2010 Bark
Town of North Andover D @ [E o W IF..— . 111,
Attn.: Zoning Board of Appeals120 Main Street [�,((
North Andover, MA 01845 JAN _ 4
BOAR® OF APPEALS
RE: Irrevocable Standby Letter of Credit Number 19549.
Comprehensive Permit – Orchard Village Subdivision
off Turnpike Street and Chestnut Street
Dear Zoning Board Members:
By this document, Enterprise Bank and Trust (hereinafter "issuer") hereby issues this Irrevocable
Letter of Credit Number 19549 in the amount of One Hundred Thousand Dollars ($100,000) to
the Town of North Andover ("Town"), acting by and through its Zoning Board of Appeals
("Board") on behalf of Orchard Village LLC 44 Great Pond Road, Boxford, Massachusetts
01921 (hereinafter "Developer). This Irrevocable Letter of Credit is issued to guarantee
completion of the subdivision roadway and associated utility and infrastructure improvements in
accordance with a definitive subdivision plan entitled, "Definitive Subdivision Plan for Orchard
Village in North Andover, Mass." Prepared by Christiansen and Sergi, dated April 2, 2009, last
revised June 9, 2009 and filed with Land Registration Office of Land Court as Plan No 18083E
(the "Subdivision Plan"). Said subdivision concerns land located at Chestnut Street and Turnpike
Street, North Andover, MA Tax Map 107C, Lots 18 & 112.
It is agreed and understood by the issuer of the Letter of Credit that if all improvements, as shown
on the Subdivision Plan guaranteed by this letter are not completed or substitute security under
G.L. c, 41, s. 8 l acceptable to the Board has not been provided by the Developer, by August 13,
2012 then this letter of credit may be called by notice of same given to the Bank by the Board and
without further action of the Board, Enterprise Bank and Trust shall forthwith forward a check in
the amount of One Hundred Thousand Dollars ($100,000) to the Treasurer of the Town of North
Andover. This letter of credit and any funds paid hereunder constitute the Developer's
performance guarantee under the Subdivision Control Law, Mass.Gen.Laws c. 41, s. 81U, and are
governed thereby.
We hereby agree with you that drafts drawn by notice given under and in compliance with the
above terms of this Letter of Credit will be duly honored if presented to the above-mentioned
Drawee bank until receipt of confirmation from the Board that all work has been completed in
accordance with said Comprehensive Permit. However, this Letter of Credit shall expire upon
sixty (60) days written notice thereof directed to the Town of North Andover's municipal Clerk
and Zoning Board of Appeals, provided that such written notice of expiration shall be given no
earlier than September 13, 2012 and this Letter of Credit shall expire no earlier than November
13, 2012.
Page 2
Letter of Credit
Orchard Village LLC
Town of North Andover
Dated: December 28, 2010
LU&
M rle P. Hoyt, Senior Vice P sident
I have read this Letter of Credit and agree to its terms.
Obert 4AAjMMessinCaWt'0 Manager of Orchard
Village LLC and Individually
fr d rrisi, Manager of Orchard
Village, LLC & Individually
C-1 ry)"Qg�14" j0_ul6.
Marylee Messina, President & Treasurer of
Messina Development Company, Inc &
Individually
JT v st nts, LLC, Alfred J. Torrisi-Manager
11
Doc:102r424 01-10-2011
` ,JAN 19 2011 Essex North Land Court Resistry
BOARD OF APPEALS FORM J
LOT RELEASE FORM
The undersigned being a majority of the Zoning Board of Appeals of the Town of North
Andover, MA ("Board"), acting as the North Andover Planning Board in its capacity as
the Comprehensive Permit granting authority under G.L. c. 40B, §§ 21-23, hereby certify
that the requirements for work on the ground called for by the Comprehensive Permit
dated June 24, 2008, recorded in the Essex North District Registry of Deeds in Book
11427, Page 192, as affected by an Amendment to Comprehensive Permit dated
December 9, 2008, recorded in Book 11427, Page 214, and respectively registered as
Documents Nos. 101303 and 101304 on Certificate of Title 16291 and, as shown on a
Definitive Subdivision Plan entitled, "Definitive Subdivision Plan for Orchard Village in
North Andover, MA" prepared by Christiansen and Sergi, dated April 2, 2009, last
revised June 9, 2009, and filed with the Land Registration Office of the Land Court as
Plan No. 18083E ("Definitive Subdivision Plan"), have been completed to the
satisfaction of the Zoning Board of Appeals as to the following enumerated lots shown on
said Definitive Subdivision Plan, and that a performance guarantee satisfactory to the
Board, in the form of a letter of credit, has been posted by the developer with the Board
pursuant to Mass.Gen.Laws c. 41, s. 81U, and said lots are hereby released from the
restrictions as to sale and building specified thereon and released from the Form 1
Covenant dated August 13, 2009, registered as document number 99463 and as document
number 99465.
Lots designated on said Definitive Subdivision Plan and released hereby are as follows:
Lot g , Lot iii Lot _1-1 Lot II? , Lot z Z , Lot Z3 , and Lot Z5 .
1 hereby certify that lot numbers _5I _4TH j- z , •a 3 O.Vd 25 on said
Definitive Subdivision Plan do conform to layout as shown on said Definitive
Subdivision Plan.
6
RegisteredLand rveyor
ajority Of
The Zoning Board of Appeals
f The
- Town of
North Andover
-17
COMMONWEALTH OF MASSACHUSETTS
jS5x. County, ss: December1 , 2010
Then personally appeared Alp" Q. Wlr z' � who proved to me
through satisfactory evidence of identification, which was Q photographic identification
with signature issued by a federal or state governmental agency, ❑ oath or affirmation of
a credible witness, X personal knowledge of the undersigned, the above-named member
of the Zoning'Board of Appeals of the Town of North Andover, MA, and acknowledged
the foregoing instrument to be the free act and deed of said Zoning Board of Appeals
acting as the North Andover Planning Board in its capacity as the Comprehensive Permit
granting authority under G.L. c,40B, §§ 21-23, before me,
Notary Public:
My Commission Expires: t2,121zo1 tit
to