HomeMy WebLinkAboutA029 - Letter dated August 15, 2000 certifying release of letter of credit #0013 - $441,000 t
515 Clark Avenue,P. O.Box 811
Car i..gPeople Ames,IA 50010
Quality Programs Phone: 515-239-5105
Exrepr;oiwl Srrvire
Fax: 515-239-5142
August 15, 2000
TO WHOM IT MAY CONCERN:
I, Jill L. Ripperger,hereby certify that I have this date released to Ed Jacobson, Sr. Vice President, at
First National Bank Ames, Letter of Credit No. 0013 in the amount of$441,000.00.
Said instrument had been placed on file in the Ames City Clerk's Office, 515 Clark Avenue, for
paving improvements (Mortensen Road) in Dauntless Subdivision,Fourth Addition, City of Ames,
Iowa. Said letter of credit is to be replaced with a Money Market Account for the paving
improvements.
Bar IX 1)"h17-010 ill
_ J.
Jill L. Ripperger '
Title: Depufy City Clerk
Received
EDWARD C.JACOBSON
SENIOR VICE PRESIDENT
0
sr FIRST
NATIONAL
BANKAMES
Locally owned...working for you since 1903.
June 30, 2000
IRREVOCABLE LETTER OF CREDIT#0013
RE: Dauntless Subdivision, 4`h Addition— Street Improvements
CITY OF AMES
515 Clark
Ames, IA 50010
RE: Terra Firma, L.P.
2.07 Stanton Avenue
Ames, IA 50014
Gentlemen:
We hereby open our Irrevocable Letter of Credit#0013 in favor of:
CITY OF AMES
515 Clark
Ames, IA 50010
For the account of:
TERRA FIRMA, L.P.
207 Stanton Avenue
Ames, IA 50014
in the amount of $441,000.00 U.S. Dollars. Irrevocable Letter of Credit #0013 will expire on
December 31, 2000. .
Drafts for payment must be accompanied by the following:
1. Copies of all invoices which have remained unpaid for 60 days from invoice date.
2. Beneficiary's signed statement indicating that the invoices are unpaid.
3. Copy of this Irrevocable Letter of Credit#0013.
Partial payments are permitted.
We hereby agree that drafts drawn under and in compliance with the terms of this Letter of
Credit will be duly honored.
This letter of credit is subject to the Uniform Customs and Practices for Commercial
Documentary Credits (1983)Revision, International Chamber of Commerce Publication#400.
mcerely,
APPROVED AS TO FORM
-
E acobson John R.
KlObs
Sr. Vice President City Attorney
MAIN OFFICE UNIVERSITY OFFICE CUB FOODS OFFICE NORTH GRAND OFFICE
5th&Burnett PO Box 607 Ames,IA 50010 2330 Lincoln Way Ames,IA 50014 3121 Grand Ames,IA 50010 2406 Grand Ames,IA 50010
515-232-5561 FAX 515-232-5778 515-292-6157 515-233-3363 515-233-2400
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