HomeMy WebLinkAboutA016 - Letter releasing financial security dated July 14, 2005 - City Clerk's Office
515 Clark Avenue,P. 0.Box 811
cm9ngPeopk Ames,IA 50010
¢vau"Prog, Phone: 515-239-5105
Ewwdmal Service
Fax: 515-239-5142
July 14, 2005
Nyemaster Law Firm
1416 Buckeye, Ste. 200
Ames, Iowa 50010
Attention Deb Krauth
RE: Fountainview Subdivision
Dear Deb:
At their meeting of July 12, 2005, the Ames City Council passed Resolution 05-297 accepting
completion of public improvements and releasing the financial security for the above-named
Subdivision. Letter of Credit No. 0327 in the amount of$1,273,242 is being returned to you
herewith.
If you have questions,please contact me. Thank you for your assistance in this matter.
Sincerely,
C�a�
Diane Voss
City Clerk
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Enclosure
sr FIRST
NATIONAL
BANKAMES
Issue Date: September 10,2004
Irrevocable Letter of Credit No. 0327 RE: Fountain View
City of Ames
515 Clark
Ames, IA 50010
RE: Hunziker Land Development, LLC $869,380.00 Public Utilities
105 S. 16'h St. 378,862.00 Paving
Ames, Iowa 50010 25,000.00 Street Lights
Gentlemen:
We hereby establish our Irrevocable Letter of Credit No.0327 in favor of
City of Ames
515 Clark
Ames,Iowa 50010
For the account of: Hunziker Land Development, LLC
105 S. 16''St.
Ames, Iowa 50010
In the amount of$1,273,242.00 U.S. Dollars. Irrevocable Letter of Credit No. 0327 will expire
on September 10, 2005.
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.0327.
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, APPROVED AS TO FORM
By: OW4A fU BY
LThomas H.Pohlman,President Ahh R.
City Attorney
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
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