HomeMy WebLinkAboutA045 - Letter dated November 13, 2013 releasing security / Letter of Credit No. 0358 eity e
caring People 515 Clark Avenue,P.O.TBox 811
Quality Programs Ames,IA 50010
Exceplional Service
Phone: 515-239-5105
Fax: 515-239-5142
November 13, 2013
First National Bank
405 - 5`h Street
Ames, Iowa 50010
Attention Joel A. Thilges, Vice-President
RE: Estates of Nature's Crossing Subdivision
Letter of Credit No. 0358
Dear Mr. Thilges:
At its meeting of November 12, 2013, the Ames City Council adopted Resolution No. 13-507
accepting completion of the public improvements required for the Estates of Nature's Crossing
Subdivision. Subsequent to that action, Irrevocable Letter of Credit No. 0358 has been released,
and same is enclosed herewith.
If you have questions, please call. Thank you.
Sincerely,
1
Diane Voss
City Clerk
/dry
Enclosure
FIRST
NATIONAL
BANK
AMES •ANKENY
Issue Date: December 14, 2012
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, 2013.
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 Bank of Ames
By:
oel A. Thilges,Vic esident
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
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