HomeMy WebLinkAboutA001 - Irrevocable Letter of Credit #1177 dated June 6, 1994 Irrevocable Letter of Credit #1177 DATED: June 6, 1994
City of Ames, Iowa
515 Clark
Ames, IA 50010
Attn: City Clerk
We hereby authorize the City of Ames, Iowa to draw on Firstar Bank Ames, Ames,
Iowa 50010, for the account of Hunziker Development Co., L.C., up to the
aggregate amount of USD $55,300.00 (Fifty-five Thousand Three Hundred and
00/100 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
that the improvements as agreed to as condition for approval of Hillside
Subdivision, Ames, Iowa, have not been completed to meet the plans and
specifications of the City of Ames.
Each draft must state that it is "Drawn under Firstar Bank, Letter of Credit
No. 1177 Dated June 6, 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 December 6, 1994.
Except as otherwise stated herein, this Letter of Credit is subject to the Uniform
Customs and Practices for Documentary Credits per I.C.C. Publications No. 290
(1974 revision) and is subject to the provision of the Commercial Code of the State
of Iowa.
Sincerely,
FIRSTAR BANK AMES
i;
Richard M. Fischer 11ruce D. Greqnfield
Executive Vice President Vice President
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