HomeMy WebLinkAboutA022 - Letter dated February 26, 2008 releasing security with copies of Letter of Credit - Gly Clerk's Office
515 Clark Avenue,P. 0. Box 811
Caring People Ames IA 50010
Quality Programs
Exceptional Service Phone: 515-239-5105
Fax: 515-239-5142
February 26, 2008
Nyemaster Law Firm
1416 Buckeye, Suite 200
Ames, Iowa 50010
Attention Deb Krauth
RE: Somerset Subdivision, 21 st Addition
Dear Ms. Krauth:
At their meeting of February 26, 2008, the Ames City Council adopted a Resolution accepting
completion of public improvements for the above-named Subdivision. As a result, the Letter of
Credit filed as financial security has been released and is enclosed herewith.
Thank you for your past assistance.
Sincerely,
Diane Voss
City Clerk
/dry
Enclosure
Copy to: Chuck Winkleblack, Hunziker&Associates
-5r I T
Ay
ONAL
BANKAMES
Issue Date: February 23, 2007
Irrevocable Letter of Credit No. 0350 RE: Somerset 21S`Addition
City of Ames
515 Clark
Ames, IA 50010
RE: E.A. Hunziker Development, L.L.C.
105 S. 161h St.
Arneq., imim 50-010
Gentlemen:
We hereby establish our Irrevocable Letter of Credit No. 0350 in favor of
City of Ames
515 Clark
Ames, Iowa 50010
For the account of: E. A. Hunziker Development, L.L.C.
105 S. 16'' St.
Ames, Iowa 50010
In the amount of$45,000.00 U.S. Dollars. Irrevocable Letter of Credit No. 0350 will expire on
February 23, 2008.
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. 0350.
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: ,L17,
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
Fax 515-232-5778
Member FDIC www.FNBames.com Q
LENUEN
City Clerk's Mee
515 Clark Avenue,P. 0.Box 811
Caring People Ames,1A 50010
Qaaliry Programs
Exceptional Service Phone: 515-239-5105
Fax: 515-239-5142
February 27, 2007 - -TO WHOM IT MAY CONCERN:
I, Diane R. Voss, hereby certify that I have this date received from E &M Hunziker Development,
L.L.C., an Irrevocable Letter of Credit No. 0350 in the amount of$45,000.
Said instrument has been placed on file in the Ames City Clerk's Office, 515 Clark Avenue, for the
completion of public improvements,i.e.,asphalt surface paving and final fixture adjustment pertaining
to Somerset Subdivision, 2l't Addition, to the City of Ames, Iowa.
By:
Diane R. Voss
Title: City Clerk
t-= F I RST
NATIONAL
BANKAMES
Issue Date: June 9, 2006
Irrevocable Letter of Credit No. 0343 RE: Somerset 2 1"Addition
City of Ames
515 Clark
Ames, IA 50010
RE: E. A. Hunziker Development, L.L.C. $ 293,000.00 Paving
105 S. 16" St. 30,000.00 Lights
i:;es, Iowa 500-10
Gentlemen:
We hereby establish our Irrevocable Letter of Credit No. 0343 in favor of
City of Ames
515 Clark
Ames, Iowa 50010
For the account of: E. A. Hunziker Development, L.L.C.
105 S. 16" St.
Ames, Iowa 50010
In the amount of$323,000.00 U.S. Dollars. Irrevocable Letter of Credit No. 0343 will expire on
June 9,2007.
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. 0343.
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,
Thomas H. Pohlman 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
Fax 515-232-5778
Member FDIC wN/w.FNBames.COm
«�o
Memo
Legal Department
Caring People r�
Quality Programs
Exceptional Service L
JUN 1 2 2.00o
TO: Diane Voss, City Clerk
CITY CLERK
FROM: Doug Marek, City Attorney lla( � CITY OF AMES,IOWA
1_
DATE: June 10, 2006
SUBJECT: Irrevocable Letter of Credit No. 0343 —Somerset 21"Addition
I have reviewed the letter of credit from I't National Bank of Ames dated June 9,2006,and I approve
of its form and legality.
1 !
City Clerk's Office
515 Clark Avenue,P. O.Box 811
Caft P-pk Ames,IA 50010
QwepdonUry Seen Phone: 515-239-5105
Erceptianal Servict
Fax: 515-239-5142
June 9, 2006 --- —
TO WHOM IT MAY CONCERN:
I, Diane R. Voss, hereby certify that I have this date received from E & M Hunziker Development,
L.L.C., an Irrevocable Letter of Credit No. 0343 in the amount of$323,000.
Said instrument has been placed on file in the Ames City Clerk's Office, 515 Clark Avenue, for the
development of the public improvements: paving ($293,000) and street lights ($30,000)pertaining
to Somerset Subdivision, 21"Addition, to the City of Ames, Iowa.
Diane R. Voss
Title: Ci�Clerk