HomeMy WebLinkAboutA015 - Letter to Airport Road Developers dated December 24, 2003 4
City Clerk's Office
515 Clark Avenue,P. O. Box 811
map-ak Ames,IA 50010
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Fax: 515-239-5142
December 24, 2003
Airport Road Developers
P. O. Box 1742
Ames, Iowa 50010
RE: Airport Road Subdivision, 2nd Addition
Dear Sir/Madam:
At their meeting of December 23, 2003, the Ames City Council adopted a Resolution accepting
completion of the utilities and paving and releasing the financial security for the above-named
Subdivision. As a result, Irrevocable Letter of Credit No. 0316 in the amount of$66,894 is
enclosed.
Thank you for your assistance and cooperation.
Sincerely,
Diane Voss
City Clerk
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Enclosure
Copy to: Thomas H. Pohlman, First National Bank
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Issue Date: October 13,2003
Irrevocable Letter of Credit No. 0316 RE: Airport Road 2nd Addition
City of Ames
515 Clark
Ames, IA 50010
RE: Airport Road Developers
PO Box 1742
Ames, Iowa 50010
Gentlemen:
We hereby establish our Irrevocable Letter of Credit No. 0316 in favor of
City of Ames
515 Clark
Ames, Iowa 50010
For the account of: Airport Road Developers
PO Box 1742
Ames, Iowa 50010
In the amount of$66,894.00 U.S. Dollars. Irrevocable Letter of Credit No. 0316 will expire on
April 13,2004.
Drafts for payment must be accompanied by the following:
1. Copies of all invoices,which have remained unpaid for 60 days from invoice date.
2. Beneficiary's signed statement indicating that the invoices are unpaid.
3. Copy of this Irrevocable Letter of Credit No. 0316.
Partial payments are permitted.
We hereby agree that drafts drawn under and in compliance with the terms of this Letter of Credit
will be duly honored.
This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credit
(1993)Revision, International Chamber of Commerce Publication#400.
Sincer ly,
By-
Thomas H. Pohlman,President
APPROVED AS TO FORM
BY-, � ...__.
John R.Klaus
City Attomey
MAIN OFFICE UNIVERSITY OFFICE CUB FOODS OFFICE NORTH GRAND OFFICE
405 5th Street PO Box 607 Ames,IA 50010 2330 Lincoln Way Ames,IA 50014 3121 Grand Ames,IA 50010 2406 Grand Ames,IA 50010
515-232-5561 FAX 515-232-5778 515-292-6157 515-233-3363 515-233-2400
www.FNBames.com
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City Clerk's Office
515 Clark Avenue,P.0.Box 811
CwsP Ames,IA 50010
Prograw Phone: 515-239-5105
Servkv
Fax: 515-239-5142
TO WHOM IT MAY CONCERN:
I, Diane R. Voss, hereby certify that I have this date received from Airport Road Developers, an
Irrevocable Letter of Credit numbered 0316 in the amount of$66,894.
Said instrument has been placed on file in the Ames City Clerk's Office, 515 Clark Avenue, for the
development of the public improvements: streetlights($6,000),sanitary sewer($13,790),water main
($11,036), and streets($36,068),pertaining to Airport Road Subdivision,2nd Addition,to the City of
Ames, Iowa.
Diane R. Voss
Title: City Clerk