HomeMy WebLinkAboutA007 - Letter of Credit , I ,
Firstar Bank Iowa, N.A.
FIR S.T1A.R
�rM
January 14, 2000
BENEFICIARY: APPLICANT:
CITY OF AMES ERBEN HUNZIKER, DONALD FURMAN,
515 CLARK AVENUE 105 S 16TH STREET
AMES, IA 50010 AMES, IA 50010
BENTWOOD SUBDIVISION,
4TH ADDITION
OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. 1194
GENTLEMEN/MADAM:
WE HEREBY ESTABLISH IN YOUR FAVOR, OUR IRREVOCABLE STANDBY LETTER
OF CREDIT FOR ACCOUNT OF THE APPLICANT BY ORDER OF FIRSTAR BANK N.A.,
405 MAIN STREET, AMES, IA 50010 NOT EXCEEDING A TOTAL AMOUNT OF
$29,000.00 U.S. DOLLARS (TWENTY NINE THOUSAND DOLLARS AND 00/100).
PAYMENT UNDER THIS LETTER OF CREDIT IS AVAILABLE BY YOUR DRAFT(S)AT
SIGHT ON FIRSTAR BANK, N.A., AMES, IA TO BE ACCOMPANIED BY THE
FOLLOWING DOCUMENTS:
1) BENEFICIARY'S STATEMENT SIGNED OR PURPORTING TO BE SIGNED BY OR
ON BEHALF OF BENEFICIARY CERTIFYING THAT "THE PUBLIC IMPROVEMENT
FOR BENTWOOD SUBDIVISION, 4TH ADDITION, AMES, STORY COUNTY, IOWA
HAVE NOT BEEN COMPLETED BEFORE JANUARY 14, 2001".
PARTIAL DRAWINGS ARE PERMITTED.
THE AMOUNT OF ANY DRAFT(S) DRAWN UNDER THIS CREDIT MUST BE
ENDORSED ON THE REVERSE OF THE ORIGINAL CREDIT. ALL DRAFTS MUST BE
MARKED "DRAWN UNDER FIRSTAR BANK, N.A. STANDBY LETTER OF CREDIT
NUMBER 1194 DATED JANUARY 14, 2000".
****CONTINUED ON NEXT PAGE****
405 Main Street 4 r r ROVED AS TO FORM
PO.Box 828
Ames,Iowa 50010-0828 r —
515,1232-B200 John R. Klaus
515/232-5865 FAX City Attornev
Firstar Bank Iowa, N.A.
PAGE 2
CANCELLATION OF LETTER OF CREDIT PRIOR TO EXPIRATION: THIS LETTER OF
CREDIT (AND AMENDMENTS, IF ANY) MUST BE RETURNED TO US FOR
CANCELLATION WITH A STATEMENT PURPORTEDLY SIGNED BY THE
BENEFICIARY STATING THAT THE LETTER OF CREDIT IS NO LONGER REQUIRED
AND IS BEING RETURNED TO THE ISSUING BANK FOR CANCELLATION.
WE HEREBY AGREE WITH YOU THAT DRAFTS DRAWN UNDER AND IN
COMPLIANCE WITH THE TERMS OF THIS CREDIT WILL BE DULY HONORED ON
PRESENTATION AND DELIVERY OF DOCUMENTS, AS SPECIFIED, TO FIRSTAR
BANK, N.A., 405 MAIN STREET, AMES, IA 50010 ATTN: JOHN T. RUSSELL IF
DRAWN AND PRESENTED AT THIS OFFICE ON OR BEFORE JANUARY 14, 2001.
THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR
DOCUMENTARY CREDITS (1993 REVISION), INTERNATIONAL CHAMBER OF
COMMERCE PUBLICATION NO. 500 (THE "UCP"), OR THE SUCCESSOR VERSION IN
EFFECT AT THE TIME OF ANY DRAWS.
VERY TRULY YOURS,
- ---------- --- - ------- - -- - --`.
JOHN T. RUSSELL STEVE KENT
MARKET PRESIDENT VICE PRESIDENT
WAeTO FUHM
i 4
Sohn R. Klaus
G.tv Attornev
City Clerk's Office
515 Clark Avenue,P. O.Box 811
Caring People Ames,IA 50010
QaaliW Progra,es Phone: 515-239-5105
F—t eplllllwl.Sm vice
Fax: 515-239-5142
January 18, 2000
TO WHOM IT MAY CONCERN:
I, Diane Voss, hereby certify that I have this date received from Erben Hunziker and Donald Furman,
an Irrevocable Standby Letter of Credit in the amount of$29,000.
Said instrument has been placed on file in the Ames City Clerk's Office, 515 Clark Avenue, for the
development of public improvements, specifically, street lights and asphalt surface, in the Bentwood
Subdivision, 4th Addition, City of Ames, Iowa.
By: C, dC1,r, ),'l_:'! t1�
Diane Voss
Title: City Clerk