HomeMy WebLinkAboutA006 - Irrevocable Standby Letter of Credit No. S103740 FIRS TA Firstar Bank Milwaukee, N.A. 1 l i r , TELEX TRT 191 178
777 East Wisconsin Avenue SWIFT: FWISUS44
P.0- Box 532
BANKMilwaukee, Wisconsin 53201 U.S.A. TELFFAX: (414) 765-6207
DECEMBER 04 , 1998
BENEFICIARY: APPLICANT:
CITY OF AMES HUNZIKER DEVELOPMENT CO LC
515 CLARK AVENUE 105 S 16TH STREET
AMES, IA 50010 AMES, IA 50010
HILLSIDE SUBDIVISION,
4TH ADDITION
OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. S103740
GENTLEMEN/MADAM:
WE HEREBY ESTABLISH IN YOUR FAVOR, OUR IRREVOCABLE STANDBY
LETTER OF CREDIT FOR ACCOUNT OF THE APPLICANT BY ORDER OF
FIRSTAR BANK IOWA, N.A. , 405 MAIN STREET, AMES, IA 50010
NOT EXCEEDING A TOTAL AMOUNT OF 54 , 500 . 00 U.S . DOLLARS (FIFTY
FOUR THOUSAND FIVE HUNDRED 00/100 U. S . DOLLARS) .
PAYMENT UNDER THIS LETTER OF CREDIT IS AVAILABLE BY YOUR
DRAFT( S) AT SIGHT ON FIRSTAR BANK MILWAUKEE, N.A. , MILWAUKEE, WI
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 HILLSIDE SUBDIVISION, 4TH ADDITION, AMES, STORY
COUNTY, IOWA HAVE NOT BEEN COMPLETED BEFORE DECEMBER 8, 1999" .
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 MILWAUKEE, N.A. STANDBY
LETTER OF CREDIT NUMBER S103740 DATED DECEMBER 04 , 1998" .
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FIRSA(� Firstar Bank Milwaukee, N.A. TELEX TRT 191178
�i- �R 777 East Wisconsin Avenue SWIFT: FWISUS44
P.O. Box 532
BANKMilwaukee, Wisconsin 63201 U.S.A. TELEFAX: (414) 765-6207
OUR REF. NO. S103740 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 MILWAUKEE, N.A. , LETTER OF CREDIT DEPARTMENT, P.O. BOX 532,
MILWAUKEE, WI 53201, OR TO FIRSTAR BANK IOWA, N.A. , 405 MAIN
STREET, AMES, IA 50010 ATTN: JOHN T. RUSSELL IF DRAWN AND
PRESENTED AT THIS OFFICE ON OR BEFORE DECEMBER 08, 1999 .
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,
AUTHOR ZED SIGNATURE AU ORIZED SIGNATUR
414 765-4203
414 765-5626
KB
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