HomeMy WebLinkAboutA041 - Irrevocable Letter of Credit No. 0358 dated November 24, 2010 - $45,000 Sr FIRST p L E
NATIONAL
BANK DEC - 8 2010
AMES •ANKENY
Issue Date: November 24, 2010 CITY CLERK
CITY OF AM ES,IOWA
Irrevocable Letter of Credit No. 0358 RE:Natures Crossing
City of Ames
515 Clark
Ames,IA 50010
RE: Pinnacle Properties of Ames,L.C.
4503 Twain Circle Unit 301
Ames,Iowa 50014
Gentlemen, - - - - - - - -
We hereby establish our Irrevocable Letter of Credit No.0358 in favor of:
City of Ames
515 Clark
Ames, IA 50010
For the Account of:
- Pinnacle Properties of Ames,L.C.
4503 Twain Circle Unit 301
Ames,Iowa 50014
In the"amount of$45 000 00'U.S. Dollars. Irrevocable Letter of Credit No. 0358 will expire on
December 18, 2011.
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. 0358.
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`Bankof Ames: APP4RAVAK
EYDBy: CITY ATT
oel 9tilges,Vie resident
MAIN OFFICE UNIVERSITY OFFICE NORTH GRAND OFFICE CUB FOODS OFFICE ANKENY OFFICE
405 5th Street 2330 Lincoln Way 2406 Grand Avenue 3121 Grand Avenue 1205 N.Ankeny Blvd.
Ames, IA 50010 Ames,IA 50014 Ames,IA 50010 Ames, IA 50010 Ankeny,IA 50023
515-232-5561 515-292-6157 515-233-2400 515-233-3363 515-965-3969
Fax 515-232-5778 Fax 515-965-0125
Member FDIC W eu W . F N B a m e s . c 0 m 1Z LE M1