HomeMy WebLinkAboutA008 - Irrevocable Letter of Credit No. 917 dated March 17, 1992 IRREVOCABLE LETTER OF CREDIT NO. 917 Dated: March 17, 1992
City of Ames, Iowa
515 Clark
Ames, IA 50010
Attn: City Clerk
We hereby authorize the City of Ames, Iowa to draw on the First National
Bank, Ames, Iowa 50010, for the account of Dayton Park, Ltd., developer
of Valley East Subdivision, Ames, Iowa up to the aggregate amount of USD
$102,700.00 (One Hundred Two Thousand Seven Hundred and 00/100 United
States Dollars) available by your draft(s) at sight accompanied by the
following documents:
Signed statement of the Director of Planning and Housing of the City
of Ames, Iowa that the site improvements for the Valley East
Subdivision, Ames, Iowa project have not been completed to meet the
plans and specifications approved by the City of Ames before
June 19, 1992.
Each draft must state that is it "Drawn under First National Bank Letter
of Credit No. 917 dated March 19, 1992". 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 June 19,
1992.
FIRST NATIONAL BANK
Ames, Iowa
B y:
Daniel L. Krieger, Pr es' nt