HomeMy WebLinkAboutEx 31 - Bank of Colorado LetterExhibit 31 1 Bank of Colorado Letter
Lake Springs Ranch
Filing 2 Final Plat Application
April 2018
rav Bank of Colorado
7 T H ERE ' S ONLY ONE
April 6, 2018
Garfield County—Community Development Department
108 8th St
Glenwood Springs, CO 81601
Mr, Pesnichak,
Mike and Macy Berkeley have indicated they will be applying for a land development loan and a
supporting letter of credit with Bank of Colorado for the development of Filing 2of Lake Springs Ranch
P.U.D.
They are longtime customers of Bank of Colorado and we are hoping to participate in this request. We
have discussed the request and this is a loan request that fits well within our guidelines.
This is not a commitment letter, as there has not been a formal request with regard to a final amount
needed, Further, any approvals by the Bank of Colorado will be subject to additional provisions; one of
the most notable will be an appraisal to determine the value of the lots within Filing 2. That said, if a
request is made to move forward with this loan, the Bank is inclined to act favorably upon this request
having taken into account their financial situation and strong credit rating. In fact, we look forward to a
request on this property from the Berkeley family.
It is my understanding that a letter is needed to comply with their Final Plat application process.
Accordingly, please accept this letter as notification that the Bank of Colorado is diligently working on
satisfying that reuirement.
Please do not hesitate to contact me if there any questions I can answer for you.
Cordially
Clayton Collier
Senior Vice President
EQUAL
LEUDER
Member FDIC
901 Grand Avenue
P.O. Box 520
• Glenwood Springs, CO 81602
ph: 970.945.7422
1200 Railroad Avenue
Rifle, CO 81650
ph: 970.625.1266
www.bankofcolorado.com
655 East Valley Road
Basalt, CO 81621
ph: 970.704.1144