HomeMy WebLinkAboutA026 - Letter dated September 13, 2006 releasing Letter of Credit No. 0317 - City Clerk's Office
515 Clark Avenue,P.O.Box 811
Caring People Ames,IA 50010
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ErcepNoaal Service Phone: 515-239-5105
Fax: 515-239-5142
September 13, 2006
Nyemaster Law Firm
1416 Buckeye
Ames, Iowa 50010
Attention Deb Krauth
RE: Kinyon-Clark Subdivision
Dear Deb:
At their meeting of September 12, 2006, the Ames City Council passed Resolution 06-364
accepting completion of public improvements and releasing the financial security for the above-
named Subdivision. Enclosed is Irrevocable Letter of Credit No. 0317, which has been released.
Thank you for your assistance. If you have questions, please call.
Sincerely,
Diane Voss
City Clerk
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Enclosure
' FIRST
NATIONAL
BANKAMES
Issue Date: June 22, 2004
Irrevocable Letter of Credit No. 0317 RE: Kinyon-Clark Subdivision, 1s`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$158,000.00 U.S.Dollars. Irrevocable Letter of Credit No. 0317 will expire on
July 1, 200.5.
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,
Ann Martin,Vice President
Main Office University Office Cub Foods Office North Grand Office
405 5th Street 2330 Lincoln Way 3121 Grand Avenue 2406 Grand Avenue
Ames, IA 50010 Ames, IA 50014 Ames, IA 50010 Ames, IA 50010
515-232-5561 515-292-6157 515-233-3363 515-233-2400
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