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HomeMy WebLinkAboutA026 - Reduction of Irrevocable Letter of Credit No. 10058178 to $79,000 r FIRST � rs ry AMERICAN BANK Member FDIC Equal Housing Lender August 28, 2002 City of Ames, Iowa 515 Clark Avenue Ames, IA 50010 IRREVOCABLE CREDIT NO: 10058178 Date: July 2, 2002 Amount: $285,500.00 Expiry: July 2, 2003 Applicant: The Reserve, L.C. AMENDMENT NUMBER ONE We hereby amend the above referenced Letter of Credit as follows: The amount is reduced from Two Hundred Eighty Five Thousand Five Hundred and no/100 US Dollars ($285,500.00) to an amount not exceeding a total of Seventy Nine Thousand and no/100 US Dollars ($79,000.00) All other terms and conditions remain unchanged. This amendment forms an intergral part of the Letter of Credit. Except as otherwise expressly stated, this credit is su>,ject to T Tniform Customs and Practices for Documentary Credits, 1993 Revision, ICC Publication No. 500. Yours truly, First American Bank By: Dean L. Peyton Senior Vice President 12333 University Avenue 7031 Douglas Avenue 4729 S.W.9th Street 2805 Beaver Avenue Clive,Iowa 50325 Urbandale,Iowa 50322 Des Moines,Iowa 50315 Des Moines,Iowa 50310 515-226-9998 Fax 515-"0-6999 515-237-5371 Fax 515-278-4767 515-237-5139 Fax 515-285-7241 515-237-5596 Fax 515-279-5077 1530 South Duff Avenue 520 Grand Avenue 120 North Main Ames,Iowa 50010 Ames,Iowa 50010 Roland,Iowa 50236 515-233-2033 Fax 515-956-3160 515-233-2290 Fax 515-233-4518 515-388-4331 Fax 515-388-4779 John C Joiner To: michael.hayes@hubbellrealty.com 08/08/2002 03:48 PM cc: srenaud@foxeng.com,Art L Barton/COA@COA, Diane R Voss/COA@COA Subject: Reserve bond Dear Mr. Hayes, I received your message requesting the new bond amount for The Reserve. The bond may be reduced to cover the following items and amounts. Street surface $43,500 Bike path $ 5,500 Street lights $30,000 TOTAL $79,000 Art Barton will write a certification letter for the base paving and curb and gutter. Please contact me if I can be of further assistance. nnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnAnnnnnn John C. Joiner, P.E. City of Ames Public Works Dept. 515 Clark Avenue Ames, Iowa 50010 Desk 515-239-5165 Fax 515-239-5404 � 7 John C Joiner To: Diane R Voss/COA@COA 08/09/2002 01:06 PM cc: Art L Barton/COA@COA Subject: The Reserve bond Diane, Mr. Hayes would like to get the certification and reduction of the LOC on the Council agenda for the 27th. He thought the bike path may also be completed by then. If so, I'll let you know and then the amount would be $73,500. 1 told him that you prepare the resolution but if there's anything you need him to do, please let me know. Thanks, John AAnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnAAAAnnnnnnnnnnnnnnnA John C. Joiner, P.E. City of Ames Public Works Dept. 515 Clark Avenue Ames, Iowa 50010 Desk 515-239-5165 Fax 515-239-5404 ----- Forwarded by John C Joiner/COA on 08/09/2002 12:59 PM ----- John C Joiner To: michael.hayes@hubbellrealty.com 08/08/2002 03:48 PM cc: srenaud@foxeng.com,Art L Barton/COA@COA, Diane R Voss/COA@COA Subject: The Reserve bond Dear Mr. Hayes, I received your message requesting the new bond amount for The Reserve. The bond may be reduced to cover the following items and amounts. Street surface $43,500 Bike path $ 5,500 Street lights $30,000 TOTAL $79,000 Art Barton will write a certification letter for the base paving and curb and gutter. Please contact me if I can be of further assistance. CA AAAAAAAAAAAAnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnA John C. Joiner, P.E. City of Ames Public Works Dept. 515 Clark Avenue Ames, Iowa 50010 Desk 515-239-5165 Fax 515-239-5404 1