HomeMy WebLinkAboutA016 - Irrevocable Letter of Credit No. 0317 dated November 3, 2003 - $483,752.00 sr FIRST �pT10Nq�
NATIONAL
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BANK AMES
7903 - 2003
Issue Date: November 3, 2003
Irrevocable Letter of Credit No. 0317 RE: Kinyon-Clark Subdivision, I"Addition
City of Ames
515 Clark
Ames,IA 50010
RE: R.Friedrich&Sons,Inc.
619 E. Lincoln Way
Ames, Iowa 50010
Gentlemen:
We hereby establish our Irrevocable Letter of Credit No. 0317 in favor of
City of Ames
515 Clark
Ames,Iowa 50010
For the account of: R. Friedrich&Sons, Inc.
619 E.Lincoln Way
Ames, Iowa 50010
In the amount of$483,752.00 U.S.Dollars. Irrevocable Letter of Credit No. 0317 will expire on
July 31,2004.
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. 0317.
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.
Sincerely,By' �LWA44--
.
Thomas H.Pohlman, President APPROVED
AS TO FORM
BY
wl John R.10m
City Attorney
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
sr FIRST 10Nq
NATIONAL
BANKAMES
7903 - Z0�3
FIRST NATIONAL BANK
Ames, Iowa
APPLICATION FOR LETTER OF CREDIT
Date: November 3, 2003 Amount: $483,752.00
Please establish an Irrevocable Letter of Credit in the Amount of$483,752.00 in favor of:
- - City of Ames -- — - ------- - -
515 Clark
Ames, Iowa 50010
From:
R. Friedrich& Sons, Inc.
(Kinyon-Clark Subdivision, lst Addition)
619 E. Lincoln Way
Ames, IA 50010
Such funds to be made available by Draft(s) on you at sight in the amount of$483,752.00
on or before July 31, 2004.
Applicant agrees that any demand for payment made under the Letter of Credit shall
constitute a demand loan to the undersigned at the then prevailing rate of interest, which
the undersigned agrees to.pay at maturity.
The Letter of Credit will expire on July 31, 2004 unless renewed or extended.
A fee of ($907.00) shall be charged upon issuance of this Letter of Credit.
Applicant:
R. Friedrich& Sons, Inc.
By:
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