Lawrence County AgendaPacket Proposed CC And BOA Meeting Agendas And Information Packets 2026-06-23
LOC For Hidden Pines Subdivision Increased To $682K
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Description
Stockman Bank of Montana issued Amendment #2 to Irrevocable Standby Letter of Credit No. 1090020856 for Security Storage & Properties LLC, increasing the credit to $682,165.30 effective June 23, 2026. The LOC secures completion of horizontal construction and infrastructure improvements in the Hidden Pines Subdivision through May 26, 2027.
Contract Details
Contract Amount
$682,165.30
Vendor
STOCKMAN BANK OF MONTANA
Agency
Lawrence County, SD
Contract Type
FINANCIAL_SERVICES
Document Date
June 23, 2026
Contract Term
Irrevocable Standby Letter of Credit effective June 23, 2026; satisfaction/expiration date May 26, 2027
Renewal Date
2027-05-26
Renewal Info
Letter of Credit may be reduced to a 15% warranty security upon satisfactory completion of improvements and remains valid up to one year from final approval of improvements or earlier official cancellation by Lawrence County; current satisfaction and expiration date is May 26, 2027.
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