First Horizon Letter of Credit Fully Released for Take 5 Project

First Horizon Bank’s $328,944.00 letter of credit for the Take 5 Oil Change land development escrow has been fully released following the Township’s approval of Escrow Release #2 for $44,994.56. The financial guarantee now shifts to a separate maintenance bond for the 18‑month post-construction period.

Scope & details

The full contract record, as filed.

Contract amount

$328,944.00

Contract type

FINANCIAL_SERVICES

Renewal

Construction escrow letter of credit reduced to zero with second release; future obligation shifts to a separate maintenance bond rather than extending this instrument.

Document type

Agenda

Source document

Montgomery Township Board of Supervisors Agenda 2026-08-10

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Montgomery?

First Horizon Bank was awarded this financial services contract by Town of Montgomery, as recorded on August 10, 2026. The contract value is $328,944.00.

How much is the First Horizon Bank contract with Town of Montgomery worth?

The First Horizon Bank contract with Town of Montgomery is valued at $328,944.00, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record.

Where was this contract approved?

This contract appears in Montgomery Township Board of Supervisors Agenda 2026-08-10 (Agenda), dated August 10, 2026 from Town of Montgomery. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does First Horizon Bank hold?

First Horizon Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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