HomeMy WebLinkAboutPC88019 - 10/27/88 - Earl Brown Drive at Summit Drive1%W1 '%%�
PLANNING COMMISSION FILE CHECKLIST
�✓h`/9G
FILE INFORMATION File Purge Date'
Planning Commission Application No. d9019
PROPERTY INFORMATION
Zoning: CZ
PLAN REFERENCE
Note: If a plan was found in the file during the purge process, it was pulled for
consolidation of all plans. Identified below are the types of plans, if any, that were
consolidated.
• Site Plans 4/
• Building Plans
• Other:
FILE REFERENCE
Note: The following documents were purged when this project file became inactive. We
have recorded the information necessary to retrieve the documents.
Document Tvoe Date Range
Agenda Cover Sheet: Planning Commission
Minutes: Planning Commission
Minutes: City Council
Resolutions: Planning Commission
Resolutions: City Council
Ordinances: City Council
1111,68
Location
Agenda Book
City Vault
City Vault
City Vault
City Vault
City Vault
Historical Photographs: Planning Commission City Archieve
CITY OF BROOKLYN CENTER
PLANNING COMMISSION APPLICATIIN
Street Location of Property
Application No. 88019
Please Print Clearly or Type
Earle Brown Drive at Summit: Drive
Legal Description of Property (See attached)
Owner City County Cre4it Union - Thomas Nord, President
Address 302 S. 6th St., Minneapolis, MN 55415 Phone No. 348-2888
Applicant Buetow & Associates, Inc. - Architects
Address 2345 Rice St. #210, St.Paul, MN 55113 Phone No.
Type of Request: Rezoning Subd vision Approval
483-6701
Variance x Site & Bldg. Plan Approval
Special Use Permit Other:
Description of Request: Informational meeting with planning staff was held
September 28, 1988. We are looking to receive the above approval at the
October 27 olannina commission meeting.
The applicant requests processing of this application and agrees to pay to the City of
Brooklyn Center, within fifteen (15) days after mailing or delivery of the billing state-
ment, the actual costs incurred by the City for Engineering, Planning and Legal expenses
reasonably and necessarily required by the City for the processingiof the application.
Such costs shall be in addition to the application fee described herein. Withdrawal of
the application shall not relieve the applicant of the obligation to pay costs incurred
prior to withdrawal.
Fee $ 21^_o.00
BUETOW & ASSOCIATES, INC.
Applicants Signature
Receipt No. ^%�j �� Date: October 13, 1288
_ _ I
PLANNING COMMISSION RECOMMENDATION
Dates of P.C. Consideration:
Approved �_ Denied
L'_11_.-_—_ __—Jd J.4 --- .
this day of ( '
199r , subject to the
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4 - - - - - - - - - - - - -
CITY COUNCIL ACTION
Dates of Council Consideration:
Approved Denied this Z!��day of -_19 , �, with the following
amendment:
Lie
P/I Form No. 18 (over please)
CITY OF BROOKLYN CENTER, MINNESOTA
6301 Shingle Creek Parkway 55430
PROCEDURES AND REQUIREMENTS FOR FILING APPLICATION FOR SITE AND BUILDING
PLAN APPROVAL
Prior to submission of an application' for plan review and approval, prospective
applicants should arrange an informational meeting with the Planning Staff to discuss
preliminary plans and to become familiarized with applicable ordinance and policy
provisions.
Four (4) copies of the following documents and information shall be submitted, at least
14 days prior to the date of the regular Commission meeting, concurrent with fi ink the
application (required documents must be'consiste m wiLk 'uruid.6i.r anu policy provisions
before an application may be accepted):
V/1. A certified site survey drawing by a registered engineer or land surveyor
showing pertinent existing condition, accurately dimensioned.
2. *An accurately scaled and dimensioned site plan indicating:
a) parking layouts and access provisions, including calculation of
ordinance parking requirements;
b) designations and locations of all proposed buildings and required
setback lines;
c) fences, walls or other screening, including heights and type
of material;
d) outside lighting provisions, type and location (foot carhdle strength
at property line must be calculated);
e) curbing (B612 curb and gutter is required). Indicate radius measurements;
f) building information, including: gross floor area, type of construction
and occupancy classification. _
3. *A landscape plan showing areas to be sodded or seeded, quantity, location,
size and species of trees and shrubbery. (Note: underground irrigation
is required in -all landscaped areas in commercial and industrial districts.
Plans must be so noted).
4. *Building floor plans, elevations, sections and specifications, including
materials proposed.
5. *Existing and proposed land elevations, drainage provisions, and utility
provisions, including the diameters of utility lines.
6. Additional drawings, plans or information deemed necessary by the Secretary.
*Must be prepared by a registered architect or person registered with the State
Board of Registration for Architects, Engineers, Landscape Architects and Land
Surveyors, and.said drawings/plans shall be so certified.
v
NOTE: Upon approval of plans by the Council and prior to issuance of permits,.a
Performance Agreement as to approved site improvements and a supporting
financial guarantee, in an amount to be determined by tFe City, are required.
Acceptable financial instruments include cash escrow; certificate of deposit;
and performance bond.
Copies of the Zoning Ordinance may be obtained from the Administrative Office.
Questions should be directed to the Planning and Inspection Department.
P/I Form No. 19
CITY OF BROOKLYN CENTER
PLANNING COMMISSION APPLICATIIN
Street Location of Property
Application No.
Please Print Clearly or Type
Earle Brown Drive at Summit Drive
Legal Description of Property (See attached)
88019
Owner
City
County
Credit Union - Thomas Nord, President
Address
302
S. 6thISt.,
Minneapolis, MN 55415 Phone No. 348-2888
Applicant
Buetow & Associates,
Inc. -
Architects
Address
2345 Rice St. #210,
St.Paul,
MN 55113
Type of Request: Rezoning
Variance
Special Use Permit
Description of Request:
Phone No.
Subd v4sion Approval
483-6701
x Site & Bldg. Plan Approval
Other:
Informational meeting with planning staff was held
September 28, 1988. We are looking to receive the above approval at the
October 27 planning commission meeting.
The applicant requests processing of this application and agrees to pay to the City of
Brooklyn Center, within fifteen (15) days after mailing or delivery of the billing state-
ment, the actual costs incurred by the City for Engineering, Planning and Legal expenses
reasonably and necessarily required by the City for the processing of the application.
Such costs shall be in addition to the application fee described herein., Withdrawal of
the application shall not relieve the applicant of the obligation to pay costs incurred
prior to withdrawal.
BUETOW & ASSOCIATES, INC.
Fee $ Applicants Signature
Receipt No. Date: October 13,_1988
Dates of P.C. Consideration:
i
Approved \_ Denied
PLANNING COMMISSION RECOMMENDATION
this day of 19 subject to the
CITY COUNCIL ACTION
Dates of Council Consideration:
Approved Denied this �'�day of --L9 ?e , with the following -
PP .� �
amendment:
Clerk
P/I Form No. 18 (over please)
Planning Commission Information Sheet
Application No. 88019
Applicant: Buetow and Associates, Inc.
Location: Earle Brown Drive, south of Learning Tree Day Care
Request: Site and Building Plan
Location/Use
The applicant requests site and building plan approval to construct an approximate
20,000 sq. ft. office building for the City -County Credit Union on the vacant parcel
of land between Park Nicollet Medical Clinic and the Learning Tree Day Care Center.
The parcel in question is zoned C2 and is bounded on the northeast by the Learning
Tree Day Care Center, on the southeast by Highway 100, on the southwest by Park
Nicollet Medical Clinic, and on the northwest by Earle Brown Drive. Financial
institutions and office buildings are permitted uses in the C2 zoning district.
Access/Parking
The site plan calls for two 24' wide access drives on Earle Brown Drive, an entrance
drive at the southwest corner of the site and an exit drive at the northwest corner of
the site. The building is approximately 5,000 sq. ft. per floor. The first floor
will primarily be a lobby for the credit union. As such, the parking requirement is
based on the retail parking formulas (11 spaces for the first 1,000 sq. ft. and 8
spaces for each additional 1,000 sq. ft.). For 5,000 sq. ft. the requirement is 43
spaces. The upper two floors and the basement are calculated at the general office
formula of one space per 200 sq. ft. of gross floor area. The parking requirement
for the basement, second and third floors (a total of 15,000 sq. ft. ) is 75 spaces.
The combined total is 118 spaces which is the precise total provided for on the
proposed site plan. Of these, three are handicapped spaces as required by state
regulation. Most of the parking is located in the main lot west of the building. A
smaller employee lot in the southern portion of the parcel is also provided.
Landscaping
The landscape plan calls for 282 landscape points on a 2.8 acre site - consistent
with the landscape point system. Plantings include 14 shade trees (2 Common
Hackberry, 4 Emerald Green Maple, 4 Northwood Red Maple, 2 Redmond Linden, and 2
Summit Ash), 19 coniferous trees (10 Black Hills Spruce, 9 Scotch Pine), and 56
shrubs (all Andorra Juniper). Rows of trees line the entrance and exit drives and
nine trees are scheduled for a large green area surrounding the building.
Greenstrip areas are generous - 15' adjacent to interior property lines and
approximately 30' adjacent to Earle Brown Drive. A 2' to 3' berm is proposed in the
greenstrip adjacent to Earle Brown Drive to provide screening of the parking lot
from the residential development (Earle Brown Commons) to the Wiest. Two required
trees have been eliminated from parking lot islands that have been tapered back to
allow for freer movement -of fire trucks. These trees should be relocated elsewhere
on the site - perhaps in the front greenstrip or around the employee lot which also
has no trees. Underground irrigation is noted on the plans.
Grading, Drainage, Utilities
The site is fairly flat. The proposed drainage pattern is basically from east to
west. Four catch basins are proposed, all west of the building, in or near the
entrance and exit drives. These catch basins and the roof drainage will be
connected by storm sewer which will drain into a 21" storm sewer line in Earle Brown
Drive. The utility plan calls for a 4" water line for domestic service and a
separate 6" diameter fire line to the building. There is an existing hydrant in the
10-27-88 -1-
Application No. 88019 continued,
Earle Brown Drive right-of-way. The Fire Chief is analyzing the possible need for
another hydrant to serve the site. A 4" diameter sanitary sewer line is proposed to
serve the building. Grades are shown on the landscape plan, not with the utilities.
A separate grading, drainage and utility plan should be submitted prior to City
Council consideration. Grades need to be altered to reflect a higher first floor
elevation. Also, drainage calculations must be submitted for the 5-year and 100-
year storm, again prior to City Council consideration.
Building
As mentioned earlier, the building to is be three stories and a basement level. The
second floor is to be rented out, at least at first, while the rest of the building is
occupied by the credit union. There are six (6) drive -up lanes on the east side of
the building, adjacent to Highway 100. The drive -up lanes are to be under a metal
canopy. The building itself is brick and reflective glass, a burgundy color. A
canopy is proposed over the main entrance walk. The plan also features a skylight
over the vestibule and front stairwell. The basement is to have separate lunch
rooms for smoking and non-smoking, an aerobics room, storage room and locker rooms.
Lighting/Trash
Lighting has not been greatly detailed on the site plan. Eight 25' high light posts
are indicated around the main traffic lanes on the site. One light post is proposed
for the employee lot. The plan indicates that light will be broadcast into the
property and that the illumination will not exceed one foot candle at the property
lines. This is far below the 10 foot candle limit in commercial zones (Section 35-
712) . A trash enclosure with a 6' high brick screen wall is proposed slightly north
of the northeast corner of the building.
Recommendation
Although the grading, drainage, and utility plans are disjointed and poorly drawn at
present, action on the proposal is possible, provided the applicant submits a
revised plan prior to City Council consideration. Approval is recommended,
subject to at least the following conditions:
1. Building plans are subject to review and approval by the Building
Official with respect to applicable codes prior to the issuance
of permits.
2. Grading, drainage, utility and berming plans are subject to
review and approval by the City Engineer, prior to the issuance of
permits.
3. A site performance agreement and supporting financial', guarantee
(in an amount to be determined by the City Manager) shall be
submitted prior to the issuance of permits.
4. Any outside trash disposal facilities and rooftop mechanical
equipment shall be appropriately screened from view.
5. The building is to be equipped with an automatic fire
extinguishing system to meet NFPA standards and shall be
connected to a central monitoring device in accordance with
Chapter 5 of the City Ordinances.
6. An underground irrigation system shall be installed in all
landscaped areas to facilitate site maintenance.
10-27-88 -2-
Application No. 88019 continued
7. Plan approval is exclusive of all signery which is subject to
Chapter 34 of the City Ordinances.
8. B612 curb and gutter shall be provided around all parking and
driving areas.
9. The applicant shall submit an as -built survey of the property,
improvements and utility service lines, prior to release of the
performance guarantee.
10. The property owner shall enter in an Easement and Agreement for
Maintenance and Inspection of Utility and Storm Drainage
Systems, prior to the issuance of permits.
11. The plans shall be revised prior to consideration by the City
Council to indicate the following:
a) Two additional Black Hills Spruce on the landscape plan.
b) A separate grading, drainage, and utility plan showing the
first floor elevation at 851' and also showing City utilities
(size and location) in Earle Brown Drive and indicating
drainage calculations for the 5-year and 100-year storms.
10-27-88 _3_
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December 19, 1990
Bryan Bennett, Vice President/Controller
City County Federal Credit Union
6010 Earle Brown Drive
Brooklyn Center, MN 55430
Dear Mr. Bennett:
This letter is to inform you that the Brooklyn Center City Council
released the entire remaining obligation of your performance
agreement at its regular meeting of October 15, 1990.
Enclosed please find a copy of the minutes of that meeting
pertaining to your project, and the financial instrument held by
the City to insure completion of approved site improvements.
Thank you for your cooperation in this matter.
Yours truly,
Gary Shallcross
Planner
GS:mll
c
MINUTES OF THE PROCEEDINGS OF THE CITY COUNCIL
OF THE CITY OF BROOKLYN CENTER IN THE COUNTY
OF HENNEPIN AND THE STATE OF MINNESOTA
REGULAR SESSION
OCTOBER 15, 1990
CITY HALL
CALL TO ORDER
The Brooklyn Center City Council met in regular session and was called to order
by Mayor Dean Nyquist at 7:02 p.m.
ROLL CALL
Mayor Dean Nyquist, Councilmembers Todd Paulson, Jerry Pedlar, and Philip Cohen.
Also present were City Manager Gerald Splinter, Director of Public Works Sy
Knapp, Finance Director Paul Holmlund, Director of Planning and Inspection Ron
Warren, City Attorney Charlie LeFevere, EDA Coordinator Brad Hoffman, City
Engineer Mark Maloney, and Administrative Aide Patti Page.
INVOCATION
The invocation was offered by Mayor Nyquist.
CONSENT AGENDA
Mayor Nyquist inquired if any Councilmembers requested any items removed from
the consent agenda. Councilmember Cohen requested items 8b and 12e be removed.
APPROVAL OF MINUTES - SEPTEMBER 24, 1110 - REGULAR SESSION
There was a motion by Councilmember Pedlar and seconded by Councilmember Paulson
to approve the minutes of the September 24, 1990, City Council meeting. The
motion passed unanimously.
PROCLAMATION
There was a motion by Councilmember Pedlar to approve the following
proclamation:
PROCLAMATION DECLARING OCTOBER 21-27, 1990, AS NATIONAL BUSINESS WOMEN'S WEEK
The motion for the adoption of the foregoing proclamation was duly seconded by
member Todd Paulson, and the motion passed.unanimously.
PERFORMANCE BOND RELEASE - CITY COUNTY CREDIT UNION 6010 EARLE BROWN DRIVE
There was a motion by Councilmember Pedlar and seconded by Councilmember Paulson
to approve a release of the performance bond for City County Credit Union at
6010 Earle Brown Drive. The motion passed unanimously.
MAYORAL APPOINTMENT
There was a motion by Councilmember Pedlar and seconded b} Councilmember Paulson
to approve the list of election judges submitted by tte City Clerk for the
November 6, 1990, general election. The motion passed unanimously.
FINAL PLAT APPROVAL - KORMAN ADDITION
There was a motion by Councilmember Pedlar and seconded by Councilmember Paulson
10/15/90 -1-
CITY OF BROOKLYN CENTER Council Meeting Date 10/15/90
Agenda Item Number
REQUEST FOR COUNCIL CONSIDERATION
******************************************************************************************
ITEM DESCRIPTION:
Performance Guarantee Release: City County Federal Credit Union
6010 Earle Brown Drive
DEPARTMENT APPRQ.VAL:
Signature - title Director of Planning and Inspection
MANAGER'S REVIEW/RECOMMENDATION:
No comments to supplement this report Comments below/attached
******************************************************************************************
SUMMARY EXPLANATION: (supplemental sheets attached �}
The following performance guarantee is recommended for release:
1. City County Federal Credit Union
6010 Earle Brown Drive
Planning Commission Application No. 88019
Amount of Guarantee - $85,000 cashier's check
Obligor - City County Federal Credit Union
All improvements have been installed in accordance with the
approved plan. An as -built survey has also been submitted.
Recommend total release.
Submitted by,
(�,:e�
Gary Shallcross
Planner
DEPARTMENT OF PLANNING AND INSPECTION
CITY OF BROOKLYN-CENTER
PERFORMANCE AGREEMENT
File No. 88019
This Agreement is entered into by City County Federal Credit Union hereinafter
called the Developer and the City of Brooklyn Center, a Municipal Corporation, under the laws
of the State of Minnesota, hereafter called the City.
THE WORK
The Developer has received approval of its Development Plans by the City Council of the
Ciiy 'purSuaiiL Lu CJLy Ordinances), subject to the execution of this Performance Agreement,
pursuant to the laity Council approval of November 7. 1988 and in accordance with said
Development Plans all of which are made a part hereof by reference. In consideration of such
approval, the Developer, its successors and assigns, does covenant and agree to perform the
work as set forth in the Development Plans, in the aforesaid Approval, and as hereinafter set
forth, upon the real estate described as follows: 6010 Earle Birown Drive
The Work shall consist of the improvements described in the Development Plans, in the
aforesaid Approval (to include any approved subsequent amendments)I and shall be in compliance
with all applicable Statutes, Codes and Ordinances of the City.
COMPLETION DATE
The undersigned Developer agrees that the said Work shall be completed in its entirety
on or before the 1st day of May 19 90 , and no extension of time shall be valid un-
less the same shall be approved in writing by the City Manager. Said extension of time shall
be valid whether approved by the City Manager before or after the completion date and failure
of the City to extend the time for completion or to exercise other remedies hereunder shall
in no way work a forfeiture of the City's rights hereunder, nor shall any extension of time
actually granted by the City Manager work any forfeiture of the City's rights hereunder. It
shall be the duty of the Developer to notify the City of completion of the Work at least 10
days prior to the Completion Date and to call for final inspection by employees of the City.
MAINTENANCE
The Performance Agreement, in its entirety, shall remain in full force and effect for a
period of one year after actual completion of the Work to determine that the useful life of
all Work performed hereunder meets the average standard for the particular industry, profession,
or material used in the performance of the work. Any work not meeting such standard shall not
be deemed complete hereunder. Notice of the date of Actual Completion shall be given to the
Developer by the Director of Planning and Inspection of the City.
FINANCIAL GUARANTEE
The Developer agrees to furnish the City with a Financial Guarantee in the form of a cash
escrow, a bond issued by an approved corporate surety licensed to � business in the State of
Minnesota and executed by the Developer as principal, or other Financial Guarantee as approved
by the City Manager of the City, in the amount of $85,000.00 . Such! Financial Guarantee shall
continue in full force and effect until the City Council shall havejby motion approved and
accepted all of the Work undertaken to be done, and shall thereby h6ve released the Surety
and/or Developer from any further liability; provided however, that;the City Council may by
motion .reduce the amount of the Financial Guarantee upon partial co pletion of the work, as
certified by the City Manager. Such Financial Guarantee shall be c nditioned upon the full
and faithful performance of all elements of this Agreement and upon compliance with all
applicable Statutes, Codes, and Ordinances of the City, and shall further be subject to the
following provisions which shall be deemed to be incorporated in such Financial Guarantee and
made a part thereof.
NOTICE
The City shall be required to give prior notice to the corporate surety and the Developer
of any default hereunder before proceeding to enforce such Financial Guarantee or before the
City undertakes any work for which the City will be reimbursed through the Financial Guarantee.
Within 10 days after such notice to it, the surety shall notify the City in writing of its in-
tention to enforce any rights it might have under this Performance Agreement or any Performance
Bond by stating in writing the manner in which the default will be cured and the time within
which such default will be cured, said time not to exceed 60 days unless approved by the City.
(over please)
REMEDIES FOR BREACH
At any time after the Completion date and any extensions thereof, or during the Maintenan(
Period, if any of the work is deemed incomplete, the City Council may proceed in any one or mo
of the following ways to enforce the undertakings herein set forth, and to collect any and all
overhead expenses incurred by the City in connection therewith, including but not limited to
engineering, legal, planning and litigation expenses, but the enumeration of the remedies here-
under shall be in addition to any other remedies available to the City.
1) Completion by the City. The City, after notice, may proceed to have the Work
done either by contract, by day labor, or by regular City forces, and neither
the Developer nor the Corporate Surety may question the manner of doing such
work or the letting of any such contracts for the doing of any such work.
Upon completion of such Work the Surety and/or the Developer shall promptly
pay the City the full cost thereof as aforesaid. In the event that the
FinanciAl r11ArAntPP iC in tha form of i+ ehall ho nn
defense by the Surety that the Ci.ty has not first made demand upon the
Developer, nor pursued its rights against the Developer.
2) Specific Performance. The City may in writing direct the Surety or the Developer
to cause the Work to be undertaken and completed within a specified reasonable
time. If the Surety and/or the Developer fails to cause the Work to be done
and completed in a manner and time acceptable to the City, the City may proceed
in an action for Specific Performance to require such work to be undertaken.
3) Deposit of Finacial Guarantee. In the event that the Financial Guarantee has
been submitted in the form of a Performance Bond, the City may demand that the
Surety deposit with the City a sum equal to the estimated cost of completing
the work, plus the City's estimated overhead expenses as defined herein, in-
cluding any other costs and damages for which the Surety may be liable hereunder,
but not exceeding the amount set forth on the face of the Performance Bond,
which money shall be deemed to be held by the City for the purpose of reimbursing
the City for any costs incurred in completing the Work ;as hereinbefore specified,
and the balance shall be returned to the Surety. This (money shall be deposited
with the City within 10 days after written demand therefor, and if the Surety
fails to make the required deposit within 10 days, the City shall have the right
to proceed against the Surety with whatever legal action is required to obtain
the deposit of such sum.
4) Funds on Deposit. In the event that the Financial Guarantee is in the form of
cash, certified check, or other arrangement making the Financial Guarantee im-
mediately accessible to the City, the City may, after notice to the Developer,
deposit the Financial Guarantee in its General Account. The City may then pro-
ceed to complete the Work, reimburse itself for the cost of completion as de-
fined hereunder, and return the balance to the Developer.
PROCEDURES
A copy of this Performance Agreement shall be attached to the Corporate Surety Bond,
if any, and reference to this Performance Agreement shall be made in any such bond, but no
corporate surety shall assert as a defense to performance hereunder, any lack of reference
in the bond to this Performance Agreement.
The original and two copies of this Agreement, properly executed, together with the
appropriate Financial Guarantee shall be submitted to the City.
IN WITNESS WHEREOF, the Developer and the City have executed this Agreement this 9C,(
day of 19 S`� _.
Witn
Witness
Subscribed and Cr
rn to before me this
S� day of (e- 19 _L.
C
Zoning Official
czLe-1--1
P/I Form No. 23 Rev. 6-77
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PENALTY FOR EARLY WITHDRAWAL
PENALTY FOR EARLY WITHDRAWAL
Attention Depositor:
This Certificate of Deposit has a specified Maturity Data. You cannot withdraw any
principal from this Certificate before the original or any subsequent maturity date
without our consent. We can only give our consent to such early withdrawal at the
time the request is made. If we consent to such early withdrawal we must assess a
penalty unless one of the "Exceptions" listed below applies. This penalty will be
calculated as provided below:
❑ The penalty is an amount equal to the greater of 1) all Interest earned on the
amount withdrawn from the most recent of the date of deposit, date of maturity, or
date on which notice of withdrawal was given, or 2) all Interest that could have been
earned on the amount withdrawn during a period equal to one-half the maturity
period or the required notice period.
❑ The penalty is an amount equal to one month's Interest earned, or that could
have been earned, on the amount withdrawn at the nominal (simple Interest) rate be-
ing paid on the deposit, regardless of the length of time the funds withdrawn have
remained on deposit.
❑ The penalty is an amount equal to three month's interest earned, or that could
have been earned, on the amount withdrawn at the nominal (simple interest) rate be-
deIng on the deposit, regardless of the length of time the funds have remained on
Minimum Early Withdrawal Penalty: If a withdrawal is made within six (6) calendar
days following the date of deposit, or within six (6) calendar days following any
partial withdrawal made prior to the maturity date, such withdrawal will be subject
to a minimum penalty of seven (7) days' Interest on the amount withdrawn.
If the funds on deposit have not earned sufficient interest prior to the date of early
withdrawal, or If Interest has previously been withdrawn, the penalty will, to the ex-
tent necessary, be assessed against the principal of the account and will be
deducted from the amount requested to be withdrawn.
EXCEPTIONS
1) We must consent to your request and there is no penalty for early withdrawal if
any account owner dies or is declared Incompetent.
2) If this is an IRA or Keogh account and the request for withdrawal is made within
seven days of opening the account, we must consent to your request. In the event
such request is made, the penalty will be all of the Interest earned on the amount
withdrawn.
3) If this Is an IRA or Keogh account we will waive the penalty if you are at least 59%
years of age or are disabled at the time the request for withdrawal is made.
4) The withdrawal Is made because of the voluntary or involuntary liquidation of the
Credit Union.
OTHER APPLICABLE TERMS
CHANGES: This institution has the authority to change the rate of Interest, the
method of computing Interest and/or the terms of Interest payment. These changes
can only be made at the maturity date and only if written notice is sent to you at
least ten (10) days prior to the original or any subsequent maturity date. This notice
will be sent to the last known address of any of the depositors by first class mail.
Notice sent to any of the depositors will be considered notice to all depositors. We
must make any such changes if we are required to do so by applicable Federal law
or regulation.
JOINT CERTIFICATES: When the word "or" appears between two or more persons
named as Depositors, any living named Depositor may present this Certificate for
paygent.
When the conjunction "and" appears between their names, the Certificate shall
be payable only upon the signatures of all the depositors named or the Legal
Representative of any deceased depositor.
MINIMUM BALANCE ACCOUNTS: For any time deposit account which requires a
minimum Initial deposit or a minimum balance, we reserve the right to treat any
withdrawal which would reduce the balance remaining in the account below such
minimum as a withdrawal of the entire account balance. Should such withdrawal
take place, any required penalty will be calculated according to the terms stated
above. This right Is in addition to any other conditions stated In this Certificate.
APPLICATION OF FEDERAL LAW: This Certificate Is Issued in accordance with and
regulated by all ap Ilcable Federal laws and regulations governing this institution
and the time deposits it accepts.
Attention Depositor:
This Certificate of Deposit has a specified Maturity Data. You cannot withdraw any
principal from this Certificate before the original or any subsequent maturity date
without our consent. We can only give our consent to such early withdrawal at the
time the request is made. If we consent to such early withdrawal we must assess a
penalty unless one of the "Exceptions" listed below applies. This penalty will be
calculated as provided below:
❑ The penalty Is an amount equal to the greater of 1) all interest earned on the
amount withdrawn from the most recent of the date of deposit, date of maturity, or
date on which notice of withdrawal was given, or 2) all interest that could have been
earned on the amount withdrawn during a period equal to one-half the maturity
period or the required notice period.
❑ The penalty is an amount equal to one month's Interest earned, or that could
have been earned, on the amount withdrawn at the nominal (simple interest) rate be-
ing paid on the deposit, regardless of the length of time the funds withdrawn have
remained on deposit.
❑ The penalty is an amount equal to three month's interest earned, or that could
have been earned, on the amount withdrawn at the nominal (simple interest) rate be-
ing paid on the deposit, regardless of the length of time the funds have remained on
deposit.
Minimum Early Withdrawal Penalt : If a withdrawal is made within six (6) calendar
days following the date of deposit, or within six (6) calendar days following any
partial withdrawal made prior to the maturity date, such withdrawal will be subject
to a minimum penalty of seven (7) days' Interest on the amount withdrawn.
If the funds on deposit have not earned sufficient Interest prior to the date of early
withdrawal, or if Interest has previously beenainst the withdrawn, the penalty will, to the ex-
tent from the amount requested to be withdraInciwn) of the account and will be
EXCEPTIONS
1) We must consent to your request and there is no penalty for early withdrawal If
an account owner dies or is declared Incompetent.
2) It this is an IRA or Keogh account and the request for withdrawal is made within
seven days of opening the account, we must consent to your request. In the event
such request Is made, the penalty will be all of the Interest earned on the amount
withdrawn.
3) If this is an IRA or Keogh account we will waive the penalty if you are at least 59
years of age or are disabled at the time the request for withdrawal is made.
4) The withdrawal is made because of the voluntary or Involuntary liquidation of the
Credit Union. OTHER APPLICABLE TERMS
CHANGES: This Institution has the authority to change the rate of Interest, the
method of computing interest and/or the terms of Interest payment. These changes
can only be made at the maturity date and only if written notice is sent to you at
least ten (10) days prior to the original or any subsequent maturity date. This notice
will be sent to the last known address of any of the depositors by first class mail.
Notice sent to any of the depositors will be considered notice to all depositors. We
must make any such changes If we are required to do so by applicable Federal law
or regulation.
more
hen the word "or"
O named as Depositors,TES:annamed y living named Depos
nai orrrmaytp present thisween two persons Certificate for
payment.
When the conjunction "and" appears between their names, the Certificate she
ll
be payable only upon the signatures of all the depositors named or the Legal
Representative of any deceased depositor.
MINIMUM BALANCE ACCOUNTS: For any time deposit account which requires a
minimum initial deposit or a minimum balance, we reserve the right to treat any
withdrawal which would reduce the balance remaining in the account below such
minimum as a withdrawal of the entire account balance. Should such withdrawal
take place, any required penalty will be calculated according to the terms stated
above. This right is In addition to any other conditions stated In this Certificate.
APPLICATION OF FEDERAL LAW: This Certificate Is Issued In accordance with and
regulated by all applicable Federal laws and regulations governing this Institution
and the time deposits It accepts.
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