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Home My WebLink AboutA007 - Irrevocable Letter of Credit No. s102931 dated October 30, 1997 Firstar Bank Milwaukee, N.A. TELEX TRT 191178 777 East Wisconsin Avenue P.O. Box 532 SWIFT: FWISUS44 BANKMilwaukee, Wisconsin 53201 U.S.A. TELEFAX: (414) 765-6207 OCTOBER 30, 1997 O BENEFICIARY: _ APPLICANT: 'CITY OF AMES HUNZIKER DEVELOPMENT CO: , LC ATTN: SANDY RYAN 105 S. 16TH STREET 515 CLARK AVENUE AMES, IA 50010 AMES, IA 50010 OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. S102931 PROJECT: PUBLIC IMPROVEMENTS - HILLSIDE SUBDIVISION 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. -AMES, 405 MAIN STREET, AMES, IA 50010 NOT EXCEEDING A TOTAL AMOUNT OF 20,000 . 00 U.S. DOLLARS (TWENTY THOUSAND 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: BENEFICIARY'S STATEMENT SIGNED OR PURPORTING TO BE SIGNED BY OR ON BEHALF OF BENEFICIARY CERTIFYING THAT 'STREET IMPROVEMENTS CALLED FOR BY THE AGREEMENT FOR PUBLIC IMPROVEMENTS FOR HILLSIDE SUBDIVISION, THIRD ADDITIONS, AMES, STORY COUNTY, IOWA HAVE NOT BEEN COMPLETED BEFORE OCTOBER 31, 1998. PARTIAL DRAWINGS ARE PERMITTED ****CONTINUED ON NEXT PAGE**** 1-2789B(949) 7 FIRSTAR 77 E r Ban Milwaukee, N.A. TELEX TRT 191178 7 East Wisconsin Avenue P.O. Box 532 SWIFT: FWISUS44 BANKMilwaukee, Wisconsin 53201 U.S.A. TELEFAX: (414) 765-6207 OUR REF. NO. S102931 PAGE 2 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 S102931 DATED OCTOBER 30, 1997" . 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. -AMES, 405, MAIN ST. , AMES, IA 50010, ATTENTION: MR. JOHN T. RUSSELL IF DRAWN AND PRESENTED ON OR BEFORE OCTOBER 31, 1998, OR ANY EXTENDED DATE AS PREVIOUSLY INDICATED. THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS ( 1993 REVISION) , INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 500. VERY TRULY YOURS, MARG GR ER KAY 9REMSER 414 765-5626 KB )-21898(949)