HomeMy WebLinkAboutA012 - Letter dated August 15 releasing letter of credit - $33,270 with copy of letter of credit and receipt City Clerk's Office
Caring People 515 Clark Avenue,P. O. Box 811
Quality Programs
Euepfioaal Service Ames,IA 50010
Phone: 515-239-5105
Fax: 515-239-5142
August 15, 1997
Kurt Kastendick, Vice President
Norwest Bank Iowa, N.A. --
3910 West Lincoln Way
Ames, IA 50014
Re: Irrevocable Standby Letter'of Credit
Public Improvements: Suncrest Subdivision
Dear Mr. Kastendick:
I have enclosed the Irrevocable Standby Letter of Credit in the amount of$33,270.00 dated
September 11, 1996, which has been on file in the City Clerk's Office as security for Suncrest
Subdivision public improvements. As this Letter of Credit expired August 8, 1997, and the
developers have filed a new security, Municipal Engineer Jerry Byg suggested I return this
document to you.
If you should have any questions regarding this release, please feel free to contact our office.
Thank you.
Sincerely,
Sandra L. Ryan
City Clerk
Enclosure
i
r
®�e�® Norwest Bank Iowa, N.A.
®ORW N ESr BANKS 3910 West Lincoln Way
a®®®ff Ames, Iowa 50014
®®� 1 5151268-6800
IRREVOCABLE STANDBY
LETTER OF CREDIT
September 11, 1996
Beneficiary: Account Party:
City of Ames Suncrest, L.C.
515 Clark Ave 100 Sixth Street
Ames, IA 50010 Ames, IA 50010
Amount: $33,270.00 Expiry Date: August 8, 1997
Norwest Bank Iowa,N.A. agrees to pay you on demand, at your above address and in
United States currency, the full amount listed, subject to presentment of the following:
• A letter addressed to the account party listing the delinquent amount due or notice of
non-performance.
• Partial drawings are-not permitted.
• This document is non-transferable.
This credit is subject to the Uniform Customs and Practice for Documentary Credits, the
International Chamber of Commerce Publication No. 500 (1993 Revision).
Sincerely,
Kurt Kastendick
Vice President
Q
jcvt yC Vco�- a--A
Date 11 I
TO WHOM IT MAY CONCERN:
I, hereby--certify'thi Ct-I-"have this--date-
received from �}'�`� C1f-1��/ a
in the amount of $ 0 C)V
1
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
\ �( public improvements in
Subdivision, City of Ames, Iowa.
CITY CLERK'S OFFI E
L
(Signature)
(Title)