HomeMy WebLinkAboutA013 - Irrevocable Letter of Credit No. 925 dated May 28, 1992 - $15,700 IRREVOCABLE LETTER OF CREDIT NO. 925 Dated: May 28, 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 Stone Brooke
Partnership, developer of Stone Brooke, 3rd Addition, Ames, Iowa up
to the aggregate amount of USD $15,700.00 (Fifteen 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 street and street lights for the
Stone Brooke, 3rd Addition, Ames, Iowa project have not been
completed to meet the plans and specifications approved by the
City of Ames before August 30, 1993.
Each draft must state that it is "Drawn under First National Bank
Letter of Credit No. 925 dated May 28, 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 August 30, 1993.
FIRST NATIONAL BANK
Ames, Iowa
B y:
Michael J. Fly , Vice,/President