HomeMy WebLinkAboutA012 - Letter of Credit dated October 26, 1994 - $34,350 A A k
AMES ROLAND
October 26, 1994 cR L ET)
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City of Ames, Iowa OCT 2 71994
515 Clark Street �yF�s=...
clay C.'.L€hK
Ames, IA 50010 cm of AP. s, 104
ATTN: City Clerk
We hereby authorize the City of Ames, Iowa to draw on American State Bank, 520 Grand Avenue,
Antes, Iowa 500 110, for the account of Everett W. Cocili ane, Marjorie L. Cochrane and Mortenson
II, A Limited Partnership, up to the aggregate amount of USD $34,350.00 (Thirty-Four Thousand
Three Hundred Fifty and no/100 United States Dollars) available by your draft(s) at sight
accompanied by the following documents:
Signed statement of the Director of Public Works of the City of Ames, Iowa the
streets and/or bike paths shown on the final plat of COCHRANE'S SECOND ADDITION
TO AMES, IOWA, and further described in an Agreement between Everett W. Cochrane,
Marjorie L. Cochrane and Mortenson II, A Limited Partnership, and the City of
Ames, Iowa dated October 18, 1994 for the construction of said improvements,
have not been installed to meet the plans and specification of the City of Ames before
February 1, 1996.
Each draft must state that it is "Drawn under American State Bank Letter of Credit No. 94-107
dated October 24, 1994". This credit and all documents specified must accompany the draft(s).
We hereby agree that all draft(s) drawn under and in compliance with the terms of this credit will be
duly honored on delivery of documents as specified if presented at this office in Ames, Iowa no later
than February 1, 1996.
Except so far as otherwise expressly stated, this Letter of Credit is subject to the "Uniform Customs
& Practice for Documentary Credits (1983 Revision), International Chamber of Commerce
Publication No. 400."
Dated this 26th day of October, 1994.
AMERICAN STATE BANK
B :
Y Y 4 CC
Richard C. Carter, Senior Vice President k rey C. fCrisman, First Vice President
SIXTH &GRAND • P.O. BOX 1747 • AMES, IA.50010-1747
PHONE(515) 233-2033
MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION
Date October 27, 1994
TO WHOM IT MAY CONCERN:
I, Sandra L. Ryan hereby certify that I have this date
received from Amarican Rtata Rank , a letter of Credit
No. 94-107 in the amount of $ 34,350.00
OR Surety Bond Number issued by
Company of ,
in the amount of $ which was placed on file
in the Ames City Clerk's office, 515 Clark Avenue for the development of
Streets and/or bike paths public improvements in
Cochrane's Second Addition Subdivision, City of Ames, Iowa.
CITY CLERK'S OFFICE
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(Signature)
(Title)