HomeMy WebLinkAboutA037 - Irrevocable Letter of Credit No. 0406 dated January 18, 2014 - $175,100 FIRST
NATIONAL
BANK
AMES•ANKENY
Issue Date: January 18,2014
Irrevocable Letter of Credit No. 0406 RE: South Fork Subdivision 2°a Addition, Outlot U
City of Ames
515 Clark
Ames, IA 50010
RE: Pinnacle Properties of Ames,L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
Gentlemen,
We hereby establish our Irrevocable Letter of Credit No.0406 in favor of.-
City of Ames
515 Clark
Ames, IA 50010
For the Account o£
Pinnacle Properties of Ames, L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
In the amount of$175,100.00 U.S. Dollars. Irrevocable Letter of Credit No. 0.406 will expire on
January 18, 2015.
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. 0406.
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 of Documentary Credit
(1993)Revision, International Chamber of Commerce Publication#400.
Sincerely,
First National Bank of Ames
J
e A. Thilges, Vice sident
MAIN OFFICE UNIVERSITY OFFICE NORTH GRAND OFFICE ANKENY OFFICE
405 5th Street 2330 Lincoln Way 2406 Grand Avenue 1205 N.Ankeny Blvd.
Ames,IA 50010 Ames,IA 50014 Ames,IA 50010 Ankeny,IA 50023
515-232-5561 515-292-6157 515-233-2400 515-965-3969
Fax 515-232-5778 Fax 515-965-0125
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