HomeMy WebLinkAboutA008 - Irrevocable Letter of Credit No. 939 dated September 10, 1993 FIRST NATIONAL BANK AMES, IOWA 50010
MAIN OFFICE BURNETT AND 5TH • 515/232-5561
UNIVERSITY OFFICE 2330 LINCOLNWAY • 515/292-6157
NORTH GRAND OFFICE 24TH AND GRAND • 515/233-3363u"'
SEP 13
September 10, 1993
N
CITY CLESIC
C iY OF A14E5, IO1,y,1
City of Ames, Iowa
5115 Clark
Ames, IA. 50010
IRREVOCABLE LETTER OF CREDIT NO. 939
Gentlemen:
We hereby establish our Irrevocable Standy Letter of Credit No. 939 in
your favor, for account of Valley East IV (hereinafter "Applicant") to the
extent of US $11 ,200.00 available by your sight draft(s) drawn on us.
All drafts drawn under this Irrevocable Standby Letter of Credit must be
marked "Drawn under First National Bank, Ames, Iowa Irrevocable Standby
Letter of Credit No. 939 dated September 10, 1993 (Issuance Date) ." We
hereby engage with you that drafts drawn under and in compliance with
the terms of this Letter of Credit will be duly honored if drawn and
negotiated on or before March 10, 1994, but will be automatically extended
for additional consecutive six-month term if you have not received by
Registered Mail notification of our intention not to renew 30 days prior to
the original expiration date and each subsequent expiration date.
This Letter of Credit is subject to the Uniform Customs and Practice for
Documentary Credits, 1983 Revision, International Chamber of Commerce
Publication No. 400.
FIRST NATIONAL BANK
Ames, Iowa
f �
Daniel L. Krieger
President